Allocation and Reallocation of Fund's Assets Sample Clauses

Allocation and Reallocation of Fund's Assets. (a) The "Maximum Equity Component" on any Exchange Business Day, as a percentage of the Fund's Total NAV, means the smallest Equity Limit for a Class of Shares, determined in accordance with the formula set forth below: Equity Limit for a Class of Shares = ((NAV Per Share - PV)/NAV Per Share)/Cushion, in each case with respect to that Class (or zero in the event that the Equity Limit for a Class of Shares is less than 0.025; provided, that the Equity Limit for a Class of Shares shall not exceed 100% at any time); where,
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Allocation and Reallocation of Fund's Assets. (a) The “
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Allocation and Reallocation of Fund's Assets. (a) Subject to a one-time election of the Adviser set forth in Section 3.3(f), the “Maximum Equity Component” on any Exchange Business Day, as a percentage of the Total Assets of the Fund, means the Equity Limit for all Classes of Shares, expressed as a percentage, determined in accordance with the formula set forth below: Equity Limit for all Classes of Shares = (Lowest NAV Per Share – Highest Floor)/Lowest NAV Per Share) * Multiple (or zero in the event that the Equity Limit for all Classes of Shares is less than ____); provided that the Equity Limit for all Classes of Shares shall not exceed ______________ where, Highest Floor = the sum of the following amounts, calculated for each future Semi-Annual Distribution and the Maturity Distribution: (i) the Adjusted Discount Factor for each such Payment Date; multiplied by (ii) the highest Protected Amount Per Share of any of the four Classes of Shares for each Payment Date; Lowest NAV = the lowest NAV Per Share of any of the four Classes of Shares. Per Share where, Adjusted
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Allocation and Reallocation of Fund's Assets. (a) The "Maximum Equity Component" on any Exchange Business Day, as a percentage of the Total NAV of the Fund, means the Equity Limit for all Classes of Shares, determined in accordance with the formula set forth below: Equity Limit for all Classes of Shares = ((Lowest NAV Per Share - Highest Floor)/Lowest NAV Per Share)*Multiple (or zero in the event that the Equity Limit for all Classes of Shares is less than 0.025; provided, that the Equity Limit for all Classes of Shares shall not exceed 100% at any time); where, Highest Floor = the product of (i) the Adjusted Discount Factor and (ii) the highest Protected Amount Per Share of any of the four Classes of Shares; Lowest NAV = the lowest NAV Per Share of any of the four Classes of Shares. Per Share where, Adjusted Discount Factor = with respect to each Class of Shares, means the following quotient as determined by the Calculation Agent in a commercially reasonable manner and communicated to the Adviser prior to 9:00 a.m. (Eastern time) on each Exchange Business Day (and if not so communicated, the Adjusted Discount Factor last communicated to the Adviser by the Calculation Agent): (i) the present value discount factor representing the theoretical price, expressed as a percentage of par, of a theoretical zero coupon bond maturing on the Maturity Date, the yield of which is consistent with the Benchmark Yield Curve as of the date of determination and (ii) an amount, based on the Fee Factor and the time (in years) remaining to the Maturity Date, determined by the Calculation Agent as follows: [OBJECT OMITTED] Fee Factor = 0.0205 Multiple = the lesser of (1) the applicable number set forth in the sector concentration table attached hereto as Schedule 2; (2) the applicable number set forth in the single name concentration table attached hereto as Schedule 3; (3) the applicable number set forth in the Volatility table attached hereto as Schedule 4; (4) the applicable number set forth in the Implied Volatility table attached hereto as Schedule 5; (5) the applicable number set forth in the liquidity table attached hereto as Schedule 6 or (6) such other amount as may be determined by the Warranty Provider in accordance with Sections 3.3(c), 3.4(d) and 4.1(c). t = the time, in years, remaining until the Maturity Date.
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Allocation and Reallocation of Fund's Assets. (a) The "Maximum Equity Component" on any Exchange Business Day, as a percentage of the Total NAV of the Fund, means the Equity Limit for all Classes of Shares, determined in accordance with the formula set forth below: Equity Limit for all Classes of Shares = ((Lowest NAV Per Share - Highest Floor)/Lowest NAV Per Share)*Multiple (or zero in the event that the Equity Limit for all Classes of Shares is less than 0.025; provided, that the Equity Limit for all Classes of Shares shall not exceed 100% at any time); where, Highest Floor = the product of (i) the Adjusted Discount Factor and (ii) the highest Protected Amount Per Share of any of the four Classes of Shares;
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Related to Allocation and Reallocation of Fund's Assets

  • Allocation of CDSCS (1) CDSCS RELATED TO THE REDEMPTION OF COMMISSION SHARES OTHER THAN OMNIBUS SHARES: CDSCs in respect of the redemption of Commission Shares which are not Omnibus Shares shall be allocated to PSI or Successor Distributor depending upon whether the related redeemed Commission Share is attributable to PSI or Successor Distributor, as the case may be, in accordance with Part I above.

  • Investment of Funds in the Collection Account and the Distribution Account (a) The Master Servicer may direct any depository institution maintaining the Collection Account (for purposes of this Section 3.12, an "Investment Account"), and the Trustee, in its individual capacity, may direct any depository institution maintaining the Distribution Account (for purposes of this Section 3.12, also an "Investment Account"), to invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee shall:

  • Allocation and Application of Collections Any provisions of Article 4 of the Base Indenture and the Series 2000-1 Supplement which allocate and apply Collections shall continue to apply irrespective of the issuance of the Series 1998-1 Notes. Sections 4.1 through 4.5 of the Base Indenture shall be read in their entirety as provided in the Base Indenture, provided that for purposes of the Series 1998-1 Notes, clauses (c), (d) and (e) of Section 4.2 of the Base Indenture shall be modified as permitted by Section 11.1(f) of the Base Indenture and shall read as follows:

  • Investment of Funds in the Collection Account The Servicer may direct any depository institution which holds the Collection Account to invest the funds in the Collection Account in one or more Permitted Investments bearing interest. All such Permitted Investments shall be held to maturity, unless payable on demand. In the event amounts on deposit in the Collection Account are at any time invested in a Permitted Investment payable on demand, the Servicer shall:

  • Investment of Amounts in Special Payments Account Any amounts on deposit in the Special Payments Account prior to the distribution thereof pursuant to Section 2.4(b) or (c) shall be invested in accordance with Section 2.2(b). Investment Earnings on such investments shall be distributed in accordance with Section 2.4(b) or (c), as the case may be.

  • Collections and Allocations (a) The Borrower or the Servicer on behalf of the Borrower shall promptly (but in no event later than two (2) Business Days after the receipt thereof) identify any Collections received by it as being on account of Interest Collections or Principal Collections and deposit all such Interest Collections or Principal Collections received directly by it into the Collection Account. The Servicer on behalf of the Borrower shall make such deposits or payments on the date indicated by wire transfer, in immediately available funds.

  • Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts (a) Each Master Servicer shall establish and maintain one or more segregated accounts (“Servicing Accounts”), in which all Escrow Payments received by it with respect to any Serviced Mortgage Loans or Serviced Pari Passu Companion Loan, shall be deposited and retained, separate and apart from its own funds. Subject to any terms of the related Mortgage Loan Documents that specify the nature of the account in which Escrow Payments shall be held, each Servicing Account shall be an Eligible Account. As and to the extent consistent with the Servicing Standard, applicable law and the related Mortgage Loan Documents, the applicable Master Servicer may make withdrawals from the Servicing Accounts maintained by it, and may apply Escrow Payments held therein with respect to any Serviced Mortgage Loan or Serviced Pari Passu Companion Loan (together with interest earned thereon), only as follows: (i) to effect the payment of real estate taxes, assessments, insurance premiums (including, premiums on any Environmental Insurance Policy), ground rents (if applicable) and comparable items in respect of the related Mortgaged Property; (ii) to reimburse the applicable Master Servicer, the applicable Special Servicer or the Trustee, as applicable, for any unreimbursed Servicing Advances made thereby with respect to such Mortgage Loan or Serviced Pari Passu Companion Loan to cover any of the items described in the immediately preceding clause (i); (iii) to refund to the related Borrower any sums as may be determined to be overages; (iv) to pay interest or other income, if required and as described below, to the related Borrower on balances in the Servicing Account (or, if and to the extent not payable to the related Borrower to pay such interest or other income (up to the amount of any Net Investment Earnings in respect of such Servicing Account for each Collection Period) to the applicable Master Servicer); (v) disburse Insurance Proceeds if required to be applied to the repair or restoration of the related Mortgaged Property, (vi) after an event of default, to pay the principal of, accrued interest on and any other amounts payable with respect to such Mortgage Loan or Serviced Pari Passu Companion Loan; (vii) to withdraw amounts deposited in the Servicing Account in error; or (viii) to clear and terminate the Servicing Account at the termination of this Agreement in accordance with Section 9.01. The applicable Master Servicer shall pay or cause to be paid to the related Borrowers interest and other income, if any, earned on the investment of funds in Servicing Accounts maintained thereby, if and to the extent required by law or the terms of the related Mortgage Loan Documents. If a Master Servicer shall deposit in a Servicing Account maintained by it any amount not required to be deposited therein, it may at any time withdraw such amount from such Servicing Account, any provision herein to the contrary notwithstanding. Promptly after any Escrow Payments are received by the applicable Special Servicer from the Borrower under any Serviced Mortgage Loan or Serviced Pari Passu Companion Loan, and in any event within one Business Day after any such receipt, such Special Servicer shall remit such Escrow Payments to the applicable Master Servicer for deposit in the applicable Servicing Account(s).

  • Collection of Funds Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Indenture Trustee under this Indenture and the Sale and Servicing Agreement. The Indenture Trustee will apply the funds and other property received by it, and will make deposits to, and distributions from, the Bank Accounts, under this Indenture and the Sale and Servicing Agreement.

  • Collection and Allocation of Receivable Payments The Servicer shall make reasonable efforts to collect all payments called for under the Receivables as and when the same shall become due and shall follow its Servicing Procedures. The Servicer shall allocate collections between principal and interest in accordance with its Servicing Procedures. Without limiting the generality of the preceding or Section 4.1, the Servicer may grant extensions, rebates, refunds, deferrals, amendments, modifications or adjustments on a Receivable (regardless of whether or not the Receivable is a 180-Day Receivable, subject only to the following proviso) in accordance with its Servicing Procedures; provided, however, that if a Receivable is not a 180-Day Receivable and the Servicer (i) extends the date for final payment by the Obligor of any Receivable beyond the Final Scheduled Maturity Date or (ii) reduces the APR of a Receivable or reduces the aggregate amount of the Scheduled Payments due on any Receivable other than as required by applicable law (including the order of a court of competent jurisdiction), the Servicer may make such modifications to a Receivable but it shall promptly purchase the Receivable from the Issuing Entity in accordance with Section 4.6 (a “Modification Purchase Event”); provided, further, that the Servicer shall not make a modification described in the preceding clause (i) or (ii) that would trigger a Modification Purchase Event for the sole purpose of purchasing a Receivable from the Issuing Entity. The Servicer may, in accordance with its Servicing Procedures, waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable. Subject to the proviso of the third sentence of this Section 4.2, the Servicer and its Affiliates may engage in any marketing practice or promotion or any sale of any products, goods or services to Obligors with respect to the Receivables so long as such practices, promotions or sales are offered to obligors of comparable equipment receivables serviced by the Servicer for itself or others, whether or not such practices, promotions or sales might result in a decrease in the aggregate amount of payments on the Receivables, prepayments or faster or slower timing of the payment of the Receivables. The Servicer and its Affiliates may also sell insurance or debt cancellation products, including products which result in the cancellation of some or all of the amount of a Receivable upon the death or disability of an Obligor or any casualty with respect to the Financed Equipment. Notwithstanding anything in this Agreement to the contrary, the Servicer and its Affiliates may refinance any Receivable and deposit an amount equal to the Purchase Amount for such Receivable into the Collection Account. The receivable created by such refinancing shall not be property of the Issuing Entity, and related Financed Equipment and any part of the Receivables Files and other CNHCR Assets related to such Receivable shall be released to the Servicer or its Affiliate and shall no longer be subject to the terms hereof or the Indenture; provided further, that any security interests in favor of the Issuing Entity or the Indenture Trustee hereunder or under the Indenture in the related Financed Equipment and any other CNHCR Assets related to such Receivable shall be deemed released upon such deposit. The parties hereto intend that the Servicer and its Affiliates will not refinance a Receivable pursuant to this Section 4.2 in order to provide direct or indirect assurance to the Depositor, the Indenture Trustee, the Trustee, the Noteholders, or the Certificateholder, as applicable, against loss by reason of the bankruptcy or insolvency (or other credit condition) of, or default by, the Obligor on, or the uncollectability of, any Receivable.

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

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