Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of the Fund to make any payment permitted by this Agreement upon receipt of any proper authorization required by this Agreement for such payments by the Fund. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the Fund's account with the Bank, or for any other reason) this Agreement deems any such overdraft or related indebtedness, a loan made by the Bank to the Fund payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Fund shall provide the Bank with agreed upon compensating balances. The Fund agrees that the Bank shall have a continuing lien and security interest to the extent of any overdraft or indebtedness, in and to any property at any time held by it for the Fund's benefit or in which the Fund has an interest and which is then in the Bank's possession or control (or in the possession or control of any third party acting on the Bank's behalf). The Fund authorizes the Bank, in its sole discretion, at any time to charge any overdraft or indebtedness, together with interest due thereon against any balance of account standing to the credit of the Fund on the Bank's books.
Advances by Bank. 14. Termination.........................................................
Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of the Fund to make any payment permitted by this Agreement upon receipt of Proper Instructions as required by this Agreement for such payments by the Fund. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the Fund's account with the Bank, or for any other reason) any such related indebtedness shall be deemed a loan made by the Bank to the Fund payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Fund shall provide the Bank with agreed-upon compensating balances. The Fund authorizes the Bank, in its sole discretion, at any time to charge any overdraft or indebtedness, together with interest due thereon, against any balance of account standing to the credit of the Fund on the Bank's books.
Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of any Portfolio of the Trust to make any payment permitted by this Agreement upon receipt of any Proper Instructions from the Portfolio authorizing such payments. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the Portfolio's account with the Bank, or for any other reason) any such overdraft or related indebtedness shall be deemed a loan made by the Bank to the Portfolio payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Portfolio shall provide the Bank with agreed upon compensating balances. The Portfolio agrees that the Bank shall have a continuing lien and security interest to the extent of any overdraft or indebtedness, in and to any property at any time held by it for the Portfolio's benefit or in which the Portfolio has an interest and which is then in the Bank's possession or control (or in the possession or control of any third party acting on the Bank's behalf). The Portfolio authorizes the Bank, in its sole discretion, at any time to charge any overdraft of indebtedness, together with interest due thereon against any balance of account standing to the credit of the Portfolio on the Bank's books.
Advances by Bank. The Bank may, in its sole discretion, advance ---------------- funds on behalf of a Master Portfolio to make any payment permitted by this Agreement upon receipt of any proper authorization required by this Agreement for such payments. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of a Master Portfolio's account with the Bank, or for any other reason) this Agreement deems any such overdraft or related indebtedness, a loan made by the Bank to the Master Portfolio payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Master Portfolio shall provide the Bank with agreed upon compensating balances. The Trust agrees that the Bank shall have a continuing lien and security interest to the extent of any overdraft or indebtedness, in and to any property at any time held by it for a Master Portfolio's benefit or in which the Master Portfolio has an interest and which is then in the Bank's possession or control (or in the possession or control of any third party acting on the Bank's behalf). The Trust authorizes the Bank, in its sole discretion, at any time to charge any overdraft or indebtedness, together with interest due thereon against any balance of account standing to the credit of a Master Portfolio on the Bank's books.
Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of any Fund to make any payment permitted by this Agreement upon receipt of any proper authorization required by this Agreement for such payments by the Fund. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the Fund’s account with the Bank, or for any other reason) this Agreement deems any such or related indebtedness, a loan made by the Bank to such Fund payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Trust shall provide the Bank with agreed upon compensating balances. Provided, however, that any such payment or payments by the Bank shall only be deemed a loan made by the Bank to a Fund to the extent such payment or payments do not exceed 10% of the value (taken at the lower of cost or current value) of such Fund’s total assets (not including the amount borrowed) at the time such payment or payments are made, and are made to facilitate the meeting of redemption requests which might otherwise require the untimely disposition of portfolio investments or for extraordinary or emergency purposes. To secure any such payments deemed to be loans in accordance with the foregoing, the Trust hereby grants to the Bank a security interest in and pledges to the Bank securities held by the Bank on behalf of the Fund on whose behalf such payments were made, in an amount not to exceed the lesser of the dollar amount deemed to constitute a loan or ten percent of such Fund’s total assets (taken at cost), the specific securities to be designated in writing from time to time by the Trust or the Manager; and provided, further, that (1) if from time to time neither the Trust nor the Manager shall have designated in writing specific securities in an amount at least equal to the lesser of the dollar amount deemed to constitute a loan or ten percent of the particular Fund’s total assets, or (2) if as a result of the delivery by the Bank out of its custody, pursuant to Proper Instructions, of any securities previously so designated, the remaining amount of securities so designated shall be less than the lesser of the dollar amount deemed to constitute a loan or ten percent of such Fund’s total assets, then the Bank shall have a security interest in the securities of such Fund, in an amount that, taken together with amounts of securities from time to time designated in writing by the Trust or the Manager that...
Advances by Bank. In the event the Borrower shall fail to maintain, or cause to be maintained, (i) the full insurance coverage required pursuant to Section 4.3 or (ii) the Collateral in good repair and good operating condition, the Bank may (but shall be under no obligation to), after 10 days written notice to the Borrower and the Issuer and the failure of the Borrower to obtain the required insurance or to commence (and complete with due diligence) the making of the required repairs, renewals and replacements, contract for the required policies of insurance and pay the premiums on the same or make any required repairs, renewals and replacements; and the Borrower agrees to reimburse the Bank to the extent of the amounts so advanced with interest thereon at a rate per annum equal to the Reimbursement Rate or the maximum rate permitted by law, whichever is lower, from the date of advance to the date of reimbursement. Any amounts so advanced by the Bank shall become an additional obligation of the Borrower secured by the Security Instruments.
Advances by Bank. 16 14.7 Property of the Fund and Confidentiality..........17 14.8 Relief............................................18
Advances by Bank. Pledgor shall reimburse the Bank for all reasonable advances made by the Bank in performing any actions on behalf of the Pledgor pursuant to this Pledge Agreement, including, without limitation, all amounts paid by the Bank (a) to discharge EXHIBIT 10.3 - continued taxes, levies, liens and/or security interests against the Pledged Shares, and/or (b) in connection with the exercise by the Bank of its rights and remedies hereunder. All such advances made by the Bank shall bear interest at the rate set forth in the Note as applicable to overdue principal and/or accrued interest on the Note, and all such advances and all interest thereon shall be secured by this Pledge Agreement with the same priority as the Note, to the fullest extent permitted by applicable law, and shall be due and payable in full to the Bank upon demand by the Bank at any time in its sole and absolute discretion.
Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of the Fund to make any payment permitted by this Agreement upon receipt of any proper authorization required by this Agreement for such payments by the Fund. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the Fund's account with the Bank, or for any other reason) this Agreement deems any such or related indebtedness, a loan made by the Bank to the Fund payable on demand and bearing interest at the rate set forth in writing by the Bank concurrently herewith (as amended from time to time) unless the Fund shall provide the Bank with agreed upon compensating balances. The Fund agrees that the Bank shall have a continuing lien and security interest on the assets of the Fund to the extent of any overdraft, provided that in no event shall the amount of such lien exceed the lesser of (i) the amount of such overdraft or (ii) 10% of the Fund's gross assets on the date of such overdraft, and provided further that to the extent consistent with the foregoing, the Bank will comply with any Proper Instructions indicating which Portfolio securities and/or which account of the Fund shall be subject to such lien. If such overdraft is not repaid within a reasonable period of time, the Bank shall have the right to exercise any rights it may have as a lienholder or secured party.
