Common use of BORROWING RESTRICTIONS Clause in Contracts

BORROWING RESTRICTIONS. 10.4.1 Subject to any statutory requirements for the time being in force and the terms and conditions herein contained the Management Company may, at any time with the approval of Trustee make arrangements with Banks or other financial institutions for borrowing for the account of the Trust for meeting redemption requests. Provided, that the charges payable to such Bank or financial institution are not higher than the normal Bank charges. 10.4.2 Provided further that the maximum borrowing for the account of the Trust shall not exceed 15% (fifteen percent) of the total Net Asset Value of Fund at the time of borrowing and shall be repayable within a period of ninety (90) days but if subsequent to such borrowing, the Net Assets have 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. 10.4.3 For the purpose of securing any such borrowing the Trustee may on the 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 to be secured by such mortgage, charge or pledge shall not exceed the limit provided in the Regulations. 10.4.4 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 on account of the Trust 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 any borrowings. 10.4.5 The Trustee or the Management Company shall not incur any liability by reason of any loss to the Trust or any loss that a Unit Holder 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 RESTRICTIONS. 10.4.1 ‌ 20.1 Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained the Management Company Trustee may, at any time at the request of the Management Company, concur with the approval of Trustee make Management Company in making and varying arrangements with Banks or other financial Financial institutions or Collective Investment Schemes, for borrowing by the Trustee for the account of the Trust Trust. Provided that the borrowing shall not be resorted to, without the prior approval of the Trustee and only for meeting redemption requestsrequests and such borrowing shall not exceed fifteen per cent or such other limit as may be specified by the Commission of the total Net Asset Value of the Scheme at any time and shall be repayable within a period of ninety days as under the Regulations. Provided, Provided further that the charges payable to such Bank or financial institution are not higher than the normal Bank bank charges. 10.4.2 . Provided further that the maximum borrowing for the account of the Trust shall not exceed 15% (fifteen percent) of the total Net Asset Value of Fund at limit provided in the time of borrowing and shall be repayable within a period of ninety (90) days Regulations but if subsequent to such borrowing, the Net Assets have reduced as a result of depreciation in the market value of the Trust Fund Property or redemption of Units, the Management Company shall not be under any obligation to reduce such borrowing. 10.4.3 20.2 For the purpose of securing any such borrowing the Trustee may on the instruction of the Management Company; Company mortgage, charge or pledge in any manner all or any part of the Trust Property, Fund Property provided that the aggregate amount to be secured by such mortgage, charge or pledge shall not exceed the limit provided in the Regulations. 10.4.4 20.3 Neither the Trustee nor the Management Company shall be required to issue any guarantee guarantees or provide security over their own assets for securing such borrowings on account of the Trust from Banks banks and financial institutionsFinancial Institutions. The Trustee or the Management Company shall not in any manner be liable in their personal capacities for repayment of any borrowingssuch loans or advances. 10.4.5 20.4 The Trustee or the Management Company shall not incur any liability by reason of any loss to the Trust or any loss that a Unit Holder may suffer by reason of any depletion in the Net Asset Value that may result from any borrowing arrangement made hereunder in good faithhereunder.

BORROWING RESTRICTIONS. 10.4.1 19.1 Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained contained, the Management Company may, at any time with the approval of Trustee make arrangements with Banks or other financial institutions for may arrange borrowing for the account of the Trust Scheme, by the Trustee, from Banks or financial institutions. The borrowing, however, shall not be resorted to, except for meeting the redemption requestsrequests and shall be repayable within a period of ninety days or such time as may be prescribed under the NBFC Regulations from time to time. Provided, that the The charges payable to such Bank or financial institution are s h o u l d not be higher than the normal Bank bank charges. 10.4.2 . Provided further that the maximum borrowing for the account of the Trust shall not exceed 15% (fifteen percent) of the total Net Asset Value of Fund at limit provided in the time of borrowing and shall be repayable within a period of ninety (90) days Regulations but if subsequent to such borrowing, the Net Assets have reduced as a result of depreciation in the market value of the Trust Fund Property or redemption of Units, the Management Company shall not be under any obligation to reduce such borrowing. 10.4.3 19.2 For the purpose of securing any such borrowing the Trustee may on the w r i t t e n instruction of the Management Company; Company mortgage, create charge or pledge in any manner all or any part of the Trust Property, Fund Property provided that the aggregate amount to be secured by such mortgage, charge or pledge shall not exceed the limit provided in the Regulations. 10.4.4 19.3 Neither the Trustee nor the Management Company shall be required to issue any guarantee guarantees or provide security over their own assets for securing such borrowings on account of the Trust from Banks banks and financial institutionsFinancial Institutions. The Trustee or the Management Company shall not in any manner be liable in their personal capacities for repayment of any borrowingssuch loans or advances. 10.4.5 19.4 The Trustee or the Management Company shall not incur any liability by reason of any loss to the Trust or any loss that a Unit Holder may suffer by reason of any depletion in the Net Asset Value that may result from any borrowing arrangement made hereunder in good faith.