Common use of BORROWING AND BORROWING RESTRICTIONS Clause in Contracts

BORROWING AND BORROWING RESTRICTIONS. 6.6.1 Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Management Company may arrange borrowing for account of the Scheme, with the approval of the Trustee, from Banks, Financial Institutions or non-banking finance companies. The borrowing, however, shall not be resorted to, except for meeting the redemption requests and shall be repayable within a period of ninety days and such borrowing shall not exceed fifteen per cent of the Net Asset of the Scheme at the time of borrowing or such other limits as specified by the Commission Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Trustee may, subject to written approval of the Management Company, concur with the Management Company make varying arrangements with Banks or other financial institutions for borrowing by the Trustee for the account(s) of the Scheme provided that borrowing shall not be resorted to, except for meeting redemption request. 1 6.6.2 The charges payable to any bank or financial institution against borrowings on account of the Scheme as permissible under Clause 6.4.1 above, shall not be higher than the normal prevailing bank charges or normal market rates. 6.6.3 The maximum borrowing for the account of the Trust shall not exceed fifteen per cent of the total Net Assets Value of the Scheme or such other limit as may be provided in the Rules or Regulations1. If subsequent to such borrowing, the Net Assets are reduced as a result of depreciation in the market value of the Trust Property or redemption of Units, the Management Company shall not be under any obligation to reduce such borrowing. 6.6.4 Neither the Trustee, nor the Management Company shall be required to issue any guarantee or provide security over their own assets for securing such borrowings from banks and financial institutions. The Trustee or the Management Company shall not in any manner be liable in their personal capacities for repayment of such loans or advances. 6.6.5 1For the purposes of securing any such borrowing the Trustee may upon instruction of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force.For the purposes of securing any such borrowing the Trustee may with the approval of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force. 1 6.6.6 Neither the Trustee nor the Management Company shall incur any liability by reason of any loss to the Trust or any loss that a Unit Holder(s) may suffer by reason of any depletion in the Net Asset Value that may result from any borrowing arrangement made hereunder in good faith.

BORROWING AND BORROWING RESTRICTIONS. 6.6.1 10.1 Subject to any statutory requirements for the time being in force and to the terms and conditions contained herein containedthe Trustee may, at any time at the request of the Management Company may arrange Company, make arrangements with Banks or other Financial Institutions for borrowing by the Trustee for account the account(s) of the Scheme, provided that borrowing shall not be resorted, except for meeting redemption requests. 10.2 The Trustee shall ensure that the borrowing limitations set out in the regulations and constitutive documents and the conditions under which the Scheme has been authorised are complied with. The Management Company on account of the Scheme managed by it shall not borrow, except with the approval of the Trustee, from Banks, Financial Institutions or non-banking finance companies. The borrowing, however, shall not be resorted to, except for meeting the redemption requests and shall be repayable within a period of ninety days request and such borrowing shall not exceed fifteen per cent of the total Net Asset Value of the Scheme at the time of borrowing or such other limits as specified by the Commission Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Trustee may, subject to written approval shall be repayable within a period of the Management Company, concur with the Management Company make varying arrangements with Banks or other financial institutions for borrowing by the Trustee for the account(s) of the Scheme provided that borrowing shall not be resorted to, except for meeting redemption request. 1 6.6.2 The charges payable to any bank or financial institution against borrowings on account of the Scheme as permissible under Clause 6.4.1 above, shall not be higher than the normal prevailing bank charges or normal market rates. 6.6.3 The maximum borrowing for the account of the Trust shall not exceed fifteen per cent of the total Net Assets Value of the Scheme ninety days or such other limit as may be provided in the Rules or Regulations1Regulations. The financing documents shall be executed by the Trustee on behalf of the Fund. If subsequent to such borrowing, the Net Assets are reduced as a result of depreciation in the market value of the Trust Property or redemption of Units, the Management Company shall not be under any obligation to reduce such borrowing. 6.6.4 10.3 The charges payable to any Bank or Financial Institution by the Trust against such borrowings on account of the Scheme as permissible under Clause 10.1 above, shall not be higher than the normal prevailing bank charges or normal market rates. 10.4 Neither the Trustee, nor the Management Company shall be required to issue any guarantee or provide security over their own assets for securing such borrowings from banks and financial institutions. The Trustee or the Management Company or their officers shall not in any manner be liable in their personal capacities for repayment of such loans or advances. 6.6.5 1For the purposes of securing any such borrowing the Trustee may upon instruction of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force.10.5 For the purposes of securing any such borrowing the Trustee may with the approval of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules Regulations and/or any law for the time being in force. 1. 6.6.6 10.6 Neither the Trustee Trustee, nor the Management Company shall incur any liability by reason of any loss to the Trust or any loss that a Unit Holder(s) may suffer by reason of any 37 Substituted vide 1st Supplemental Trust Deed dated September 30, 2010. The substituted clause (existing Sub-Clause 9.4.10, now renumbered as Sub Clause 9.4.9) read as follows; depletion in the Net Asset Value that may result from any borrowing arrangement made hereunder in good faith.

BORROWING AND BORROWING RESTRICTIONS. 6.6.1 11.1 Subject to any statutory requirements for the time being in force and to the terms and conditions contained herein contained, the Management Company may arrange make arrangements with Banks or other Financial Institutions for borrowing by the Trustee for account the account(s) of the Scheme, provided that borrowing shall not be resorted, except for meeting redemption requests. 11.2 The Trustee shall ensure that the borrowing limitations set out in the regulations and constitutive documents and the conditions under which the Scheme has been authorised are complied with. The Management Company on account of the Scheme managed by it shall not borrow, except with the approval of the Trustee, from Banks, Financial Institutions or non-banking finance companies. The borrowing, however, shall not be resorted to, except for meeting the redemption requests and shall be repayable within a period of ninety days request and such borrowing shall not exceed fifteen per cent of the total Net Asset Value of the Scheme at the time of borrowing or such other limits as specified by the Commission Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Trustee may, subject to written approval shall be repayable within a period of the Management Company, concur with the Management Company make varying arrangements with Banks or other financial institutions for borrowing by the Trustee for the account(s) of the Scheme provided that borrowing shall not be resorted to, except for meeting redemption request. 1 6.6.2 The charges payable to any bank or financial institution against borrowings on account of the Scheme as permissible under Clause 6.4.1 above, shall not be higher than the normal prevailing bank charges or normal market rates. 6.6.3 The maximum borrowing for the account of the Trust shall not exceed fifteen per cent of the total Net Assets Value of the Scheme ninety days or such other limit as may be provided in the Rules or Regulations1Regulations. The financing documents shall be executed by the Trustee on behalf of the Fund and at the cost of the Fund. If subsequent to such borrowing, the Net Assets are reduced as a result of depreciation in the market value of the Trust Property or redemption of Units, the Management Company shall not be under any obligation to reduce such borrowing. 6.6.4 11.3 The charges payable to any Bank or Financial Institution by the Trust against such borrowings on account of the Scheme as permissible under Clause 11.1 above shall not be higher than the normal prevailing bank charges or normal market rates. 11.4 Neither the Trustee, nor the Management Company shall be required to issue any guarantee or provide security over their own assets for securing such borrowings from banks and financial institutions. The Trustee or the Management Company or their officers shall not in any manner be liable in their personal capacities for repayment of such loans or advances. 6.6.5 1For the purposes of securing any such borrowing the Trustee may upon instruction of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force.11.5 For the purposes of securing any such borrowing the Trustee may with the written approval of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules Regulations and/or any law for the time being in force. 1. 6.6.6 11.6 Neither the Trustee Trustee, nor the Management Company shall incur any liability by reason of any loss to the Trust or any loss that a Unit Holder(s) may suffer by reason of any depletion in the Net Asset Value that may result from any borrowing arrangement made hereunder in good faith.

BORROWING AND BORROWING RESTRICTIONS. 6.6.1 Subject 6.4.1 1Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Trustee may, subject to written approval of the Management Company, concur with the Management Company make varying arrangements with Banks or other financial institutions for borrowing by the Trustee for the account(s) of the Scheme provided that borrowing shall not be resorted to, except for meeting redemption request. 6.4.1 1Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Management Company may arrange borrowing for account of the Scheme, with the approval of the Trustee, from Banks, Financial Institutions or non-banking finance companies. The borrowing, however, shall not be resorted to, except for meeting the redemption requests and shall be repayable within a period of ninety days and such borrowing shall not exceed fifteen per cent of the Net Asset of the Scheme at the time of borrowing or such other limits as specified by the Commission Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Trustee may, subject to written approval of the Management Company, concur with the Management Company make varying arrangements with Banks or other financial institutions for borrowing by the Trustee for the account(s) of the Scheme provided that borrowing shall not be resorted to, except for meeting redemption request. 1Commission. 6.6.2 6.4.2 The charges payable to any bank or financial institution against borrowings on account of the Scheme as permissible under Clause 6.4.1 above, shall not be higher than the normal prevailing bank charges or normal market rates. 6.6.3 6.4.3 The maximum borrowing for the account of the Trust shall not exceed fifteen per cent of the total Net Assets Value of the Scheme or such other limit as may be provided in the Rules Rules1Rules or Regulations1Regulations. If subsequent to such borrowing, the Net Assets are reduced as a result of depreciation in the market value of the Trust Property or redemption of Units, the Management Company shall not be under any obligation to reduce such borrowing. 6.6.4 6.4.4 Neither the Trustee, nor the Management Company shall be required to issue any guarantee or provide security over their own assets for securing such borrowings from banks and financial institutions. The Trustee or the Management Company shall not in any manner be liable in their personal capacities for repayment of such loans or advances. 6.6.5 6.4.5 1For the purposes of securing any such borrowing the Trustee may upon instruction of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force.For the purposes of securing any such borrowing the Trustee may with the approval of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force. 1 6.6.6 Neither the Trustee nor the Management Company shall incur any liability by reason of any loss to the Trust or any loss that a Unit Holder(s) may suffer by reason of any depletion in the Net Asset Value that may result from any borrowing arrangement made hereunder in good faith.

BORROWING AND BORROWING RESTRICTIONS. 6.6.1 Subject to any statutory requirements for the time being in force and to the terms And conditions herein contained, the trustee may ,subject to written approval of the management company, concur with the management company make varying arrangements with banks or other financial institution for borrowing by the trustee for the account (s) of the scheme provided that borrowing shall not be restored to ,except for meeting redemption request. 6.6.1 Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Management Company may arrange borrowing for account of the Scheme, with the approval of the Trustee, from Banks, Financial Institutions or non-banking finance companies. The borrowing, however, shall not be resorted to, except for meeting the redemption requests and shall be repayable within a period of ninety days and such borrowing shall not exceed fifteen per cent of the Net Asset of the Scheme at the time of borrowing or such other limits as specified by the Commission Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Trustee may, subject to written approval of the Management Company, concur with the Management Company make varying arrangements with Banks or other financial institutions for borrowing by the Trustee for the account(s) of the Scheme provided that borrowing shall not be resorted to, except for meeting redemption request. 1 6.6.2 The charges payable to any bank or financial institution against borrowings on account of the Scheme as permissible under Clause 6.4.1 above, shall not be higher than the normal prevailing bank charges or normal market rates. 6.6.3 The maximum borrowing for the account of the Trust shall not exceed fifteen per cent of the total Net Assets Value of the Scheme or such other limit as may be provided in the Rules or Regulations1.atRegulations1. At any time, and shall be repayable within a period of ninety (90)days . If subsequent to such borrowing, the Net Assets are reduced as a result of depreciation in the market value of the Trust Property or redemption of Units, the Management Company shall not be under any obligation to reduce such borrowing. 6.6.4 Neither the Trustee, nor the Management Company shall be required to issue any guarantee or provide security over their own assets for securing such borrowings from banks and financial institutions. The Trustee or the Management Company shall not in any manner be liable in their personal capacities for repayment of such loans or advances. 6.6.5 1For For the purposes of securing any such borrowing the Trustee may upon instruction of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force.For the purposes of securing any such borrowing the Trustee may with the approval of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property provided that the aggregate amount secured by such mortgage, charge or pledge shall not exceed the limits provided under the Rules and/or any law for the time being in force. 1 6.6.6 Neither the Trustee nor the Management Company shall incur any liability by reason of any loss to the Trust or any loss that a Unit Holder(s) may suffer by reason of any depletion in the Net Asset Value that may result from any borrowing arrangement made hereunder in good faith.