What is an exemptive order?

Exemptive orders are similar to no-action letters in that they provide a green light from the SEC to move forward on a new initiative. However, exemptive orders apply only to the situation for which they are granted. No-action letters can be relied upon by other firms as precedent.

What is a 12d3 security?

Rule 12d3-1 prohibits a registered investment company (such as a mutual fund, ETF, or UIT) from acquiring • more than 5% of the value of its total assets in the securities of an issuer. more than 10% of the outstanding principal amount of the debt securities of an issuer.

What does exemptive mean?

Definition of exemptive : relating to, securing, or providing exemption.

What is exemptive relief?

exemptive relief means any approval, decision, declaration, designation, determination, exemption, extension, order, ruling, permission, recognition, revocation, waiver or other relief sought under securities legislation or securities directions; Sample 1. Sample 2.

What is an affiliated issuer?

Affiliated Issuer means an entity that is an issuer of Securities that is Client’s affiliate.

What are affiliated transactions?

Affiliate Transactions is defined in Section 5.18. Affiliate Transactions means any Contract or other arrangement between or among the Seller on the one hand, and any of any Affiliate of any of them, on the other hand.

What is an affiliated director?

Affiliated Directors means those Directors who are not Independent Directors. Affiliated Directors means those directors of the Company who are employed by the Sponsor or one of its direct or indirect subsidiaries.

What is an affiliated fund?

Affiliated Fund means, with respect to any specified Person, a private equity investment fund that is an Affiliate of such Person or that is advised by the same investment adviser as such Person or by an Affiliate of such investment adviser.