Common use of Certain Other Restrictions Clause in Contracts

Certain Other Restrictions. For so long as any shares of RP are outstanding, (a) the Trust will not, unless it has received written confirmation from Xxxxx'x and S&P that any such action would not impair the ratings then assigned by Xxxxx'x and S&P to shares of RP engage in any one or more of the following transactions: (i) borrow money if the RP Basic Maintenance Amount would not be satisfied after giving effect to such borrowing; or (ii) borrow, in the aggregate, money in excess of the lesser of $10,000,000 or the product of the number of shares of RP and Other RP outstanding multiplied by $10,000 or 10% of the total assets of the Trust; or (iii) borrow any money except for the purpose of clearing portfolio transactions; or (iv) lend portfolio securities; (b) the Trust shall not buy or sell futures contracts or write put or call options except in accordance with the guidelines established and revised, from time to time, by each of Xxxxx'x and S&P; and (c) For purposes of Xxxxx'x and S&P rating of the shares of RP, the Trust shall give to Xxxxx'x and S&P prompt written notice of: (i) any material change to the Declaration of Trust or Article XII of the By-laws; (ii) any failure to declare or pay any dividend on the shares of RP; (iii) any mandatory or optional redemption of the shares of RP (iv) any assumption of control of the Board of Trustees by the Holders of shares of RP pursuant to Section 6(b); (v) in the event the Trust shall not be a party to a pricing services agreement and dealer quotes on assets are not available; (vi) in the event that the Applicable Dividend Rate equals or exceeds 95% of "AA" Composite Commercial Paper Rate; (vii) a change in dividend period; (viii) any person owning more than 5% of Trust's Common Shares; (ix) a change in Internal Revenue Service rules on Gross-up Dividends relating to the operation of the Trust; and (x) a change in pricing service.

Certain Other Restrictions. (a) For so long as any shares of RP are outstanding, (a) , the Trust will not, unless it has received written confirmation from Xxxxx'x and Moodx'x xxx S&P that any such action would not impair the ratings then assigned by Xxxxx'x and Moodx'x xxx S&P to any shares of RP RP, engage in any one or more of the following transactions: (i) borrow any money if except as may be necessary for the RP Basic Maintenance Amount would clearance of purchases and sales of portfolio securities and which borrowings shall be repaid within 60 days and not be satisfied extended or renewed (provided that no such borrowing will be permitted unless the Trust, after giving effect to such borrowing; or, maintains Moodx'x Xxxgible Assets and S&P Eligible Assets at least equal to the RP Basic Maintenance Amount); (ii) borrow, in the aggregate, money in excess of the lesser of $10,000,000 or the product of the number of shares of RP and Other RP outstanding multiplied by $10,000 or 10% of the total assets of the Trust; or (iii) borrow any money except for the purpose of clearing portfolio transactions; or (iv) lend portfolio securities; (iii) designate a new Pricing Service; (iv) engage in short sales; (v) merge or consolidate with any other entity; (vi) engage in reverse repurchase agreements; or (vii) issue a class or series of shares of beneficial interest ranking prior to or on a parity with the RP with respect to payment of dividends or the distribution of assets on liquidation. (b) the Trust shall not buy or sell futures contracts or write put or call options except in accordance with the guidelines established and revised, from time to time, by each of Xxxxx'x and S&P; and (c) For purposes of Xxxxx'x and S&P rating of the so long as any shares of RPRP are rated by Moodx'x xx S&P, the Trust shall give to Xxxxx'x and S&P Moodx'x xx S&P, as the case may be, prompt written notice of: of the following circumstances: (i) any material change to the Declaration of Trust or Article XII 12 of the By-laws; Bylaws; (ii) any failure to declare or pay any dividend on the shares of RP; ; (iii) any mandatory or optional redemption of the shares of RP RP; (iv) any assumption of control of the Board of Trustees by the Holders of shares of RP pursuant to Section 6(b); ) of this Part I of Section 12.1; (v) in the event the Trust shall not be a party to a pricing services agreement and dealer quotes on assets are not available; ; (vi) in the event that the Applicable Dividend Rate equals or exceeds 95% of "AA" Composite Commercial Paper the applicable Reference Rate; ; (vii) a change in dividend period; (viii) any person owning of record more than 5% of the Trust's Common Shares; ; (ixviii) a change in Internal Revenue Service rules on Gross-up Additional Dividends relating to the operation of the Trust; and and (xix) a change in pricing servicePutnxx Xxxestment Management, Inc. is no longer the Trust's investment manager.

Certain Other Restrictions. (a) For so long as any shares of RP are outstanding, (a) , the Trust will not, unless it has received written confirmation from Xxxxx'x Moody's and S&P that any such action would not impair the ratings then assigned by Xxxxx'x Moody's and S&P to any shares of RP RP, engage in any one or more of the following transactions: (i) borrow any money if except as may be necessary for the RP Basic Maintenance Amount would clearance of purchases and sales of portfolio securities and which borrowings shall be repaid within 60 days and not be satisfied extended or renewed (provided that no such borrowing will be permitted unless the Trust, after giving effect to such borrowing; or, maintains Moody's Eligible Assets and S&P Eligible Assets at least equal to the RP Basic Maintenance Amount); (ii) borrow, in the aggregate, money in excess of the lesser of $10,000,000 or the product of the number of shares of RP and Other RP outstanding multiplied by $10,000 or 10% of the total assets of the Trust; or (iii) borrow any money except for the purpose of clearing portfolio transactions; or (iv) lend portfolio securities; (iii) designate a new Pricing Service; (iv) engage in short sales; (v) merge or consolidate with any other entity; (vi) engage in reverse repurchase agreements; or (vii) issue a class or series of shares of beneficial interest ranking prior to or on a parity with the RP with respect to payment of dividends or the distribution of assets on liquidation. (b) the Trust shall not buy or sell futures contracts or write put or call options except in accordance with the guidelines established and revised, from time to time, by each of Xxxxx'x and S&P; and (c) For purposes of Xxxxx'x and S&P rating of the so long as any shares of RPRP are rated by Moody's or S&P, the Trust shall give to Xxxxx'x and S&P Moody's or S&P, as the case may be, prompt written notice of: of the following circumstances: (i) any material change to the Declaration of Trust or Article XII 12 of the By-laws; Bylaws; (ii) any failure to declare or pay any dividend on the shares of RP; ; (iii) any mandatory or optional redemption of the shares of RP RP; (iv) any assumption of control of the Board of Trustees by the Holders of shares of RP pursuant to Section 6(b); ) of this Part I of Section 12.1; (v) in the event the Trust shall not be a party to a pricing services agreement and dealer quotes on assets are not available; ; (vi) in the event that the Applicable Dividend Rate equals or exceeds 95% of "AA" Composite Commercial Paper the applicable Reference Rate; ; (vii) a change in dividend period; (viii) any person owning of record more than 5% of the Trust's Common Shares; ; (ixviii) a change in Internal Revenue Service rules on Gross-up Additional Dividends relating to the operation of the Trust; and and (xix) a change in pricing serviceXxxxxx Investment Management, Inc. is no longer the Trust's investment manager.

Certain Other Restrictions. (a) For so long as any shares of RP are outstanding, (a) , the Trust will not, unless it has received written confirmation from Xxxxx'x Moody's and S&P that any such action would not impair the ratings then assigned xxxx xxsigned by Xxxxx'x Moody's and S&P to any shares of RP RP, engage in any one or more of the following xxx xxxlowing transactions: (i) borrow any money if except as may be necessary for the RP Basic Maintenance Amount would clearance of purchases and sales of portfolio securities and which borrowings shall be repaid within 60 days and not be satisfied extended or renewed (provided that no such borrowing will be permitted unless the Trust, after giving effect to such borrowing; or, maintains Moody's Eligible Assets and S&P Eligiblx Xxxxxs at least equal to the RP Basic Maintenance Amount); (ii) borrow, in the aggregate, money in excess of the lesser of $10,000,000 or the product of the number of shares of RP and Other RP outstanding multiplied by $10,000 or 10% of the total assets of the Trust; or (iii) borrow any money except for the purpose of clearing portfolio transactions; or (iv) lend portfolio securities; (iii) designate a new Pricing Service; (iv) engage in short sales; (v) merge or consolidate with any other entity; (vi) engage in reverse repurchase agreements; or (vii) issue a class or series of shares of beneficial interest ranking prior to or on a parity with the RP with respect to payment of dividends or the distribution of assets on liquidation. (b) the Trust shall not buy or sell futures contracts or write put or call options except in accordance with the guidelines established and revised, from time to time, by each of Xxxxx'x and S&P; and (c) For purposes of Xxxxx'x and S&P rating of the so long as any shares of RPRP are rated by Moody's or S&P, the Trust shall give to Xxxxx'x and S&P Moody's or S&P, as the casx xxx xe, prompt written notice of: of the fxxxxxxxg circumstances: (i) any material change to the Declaration of Trust or Article XII 12 of the By-laws; Bylaws; (ii) any failure to declare or pay any dividend on the shares of RP; ; (iii) any mandatory or optional redemption of the shares of RP RP; (iv) any assumption of control of the Board of Trustees by the Holders of shares of RP pursuant to Section 6(b); ) of this Part I of Section 12.1; (v) in the event the Trust shall not be a party to a pricing services agreement and dealer quotes on assets are not available; ; (vi) in the event that the Applicable Dividend Rate equals or exceeds 95% of "AA" Composite Commercial Paper the applicable Reference Rate; ; (vii) a change in dividend period; (viii) any person owning of record more than 5% of the Trust's Common Shares; ; (ixviii) a change in Internal Revenue Service rules on Gross-up Additional Dividends relating to the operation of the Trust; and and (xix) a change in pricing servicePutnam Investment Management, Inc. is no longer the Trust's investment manager.

Certain Other Restrictions. (a) For so long as any shares of RP are outstanding, (a) , the Trust will not, unless it has received written confirmation from Xxxxx'x Moodys and S&P that any such action would not impair the ratings then assigned by Xxxxx'x Moodys and S&P to any shares of RP RP, engage in any one or more of the following transactions: : (i) borrow any money if except as may be necessary for the RP Basic Maintenance Amount would clearance of purchases and sales of portfolio securities and which borrowings shall be repaid within 60 days and not be satisfied extended or renewed (provided that no such borrowing will be permitted unless the Trust, after giving effect to such borrowing, maintains Moodys Eligible Assets and S&P Eligible Assets at least equal to the RP Basic Maintenance Amount); or (ii) borrow, in the aggregate, money in excess of the lesser of $10,000,000 or the product of the number of shares of RP and Other RP outstanding multiplied by $10,000 or 10% of the total assets of the Trust; or (iii) borrow any money except for the purpose of clearing portfolio transactions; or (iv) lend portfolio securities;; (iii) designate a new Pricing Service; (iv) engage in short sales; (v) merge or consolidate with any other entity; (vi) engage in reverse repurchase agreements; or (vii) issue a class or series of shares of beneficial interest ranking prior to or on a parity with the RP with respect to payment of dividends or the distribution of assets on liquidation. (b) the Trust shall not buy or sell futures contracts or write put or call options except in accordance with the guidelines established and revised, from time to time, by each of Xxxxx'x and S&P; and (c) For purposes of Xxxxx'x and S&P rating of the so long as any shares of RPRP are rated by Moodys or S&P, the Trust shall give to Xxxxx'x and S&P Moodys or S&P, as the case may be, prompt written notice ofof the following circumstances: (i) any material change to the Declaration of Trust or Article XII 12 of the By-lawsBylaws; (ii) any failure to declare or pay any dividend on the shares of RP; (iii) any mandatory or optional redemption of the shares of RP RP; (iv) any assumption of control of the Board of Trustees by the Holders of shares of RP pursuant to Section 6(b)) of this Part I of Section 12.1; (v) in the event the Trust shall not be a party to a pricing services agreement and dealer quotes on assets are not available; (vi) in the event that the Applicable Dividend Rate equals or exceeds 95% of "AA" Composite Commercial Paper the applicable Reference Rate; (vii) a change in dividend period; (viii) any person owning of record more than 5% of Trust's the Trusts Common Shares; (ixviii) a change in Internal Revenue Service rules on Gross-up Additional Dividends relating to the operation of the Trust; and (xix) a change in pricing serviceXxxxxx Investment Management, Inc. is no longer the Trusts investment manager.

Certain Other Restrictions. For so long as any shares of RP are outstanding, (a) the Trust will not, unless it has received written confirmation from Xxxxx'x and S&P that any such action would not impair the ratings then assigned by Xxxxx'x and S&P to shares of RP engage in any one or more of the following transactions: (i) borrow money if the RP Basic Maintenance Amount would not be satisfied after giving effect to such borrowing; or (ii) borrow, in the aggregate, money in excess of the lesser of $10,000,000 or the product of the number of shares of RP and Other RP outstanding multiplied by $10,000 or 10% of the total assets of the Trust; or (iii) borrow any money except for the purpose of clearing portfolio transactions; or (iv) lend portfolio securities; (b) the Trust shall not buy or sell futures contracts or write put or call options except in accordance with the guidelines established and revised, from time to time, by each of Xxxxx'x and S&P; and (c) For purposes of Xxxxx'x and S&P rating of the shares of RP, the Trust shall give to Xxxxx'x and S&P prompt written notice of: (i) any material change to the Declaration of Trust or Article XII of the By-laws; (ii) any failure to declare or pay any dividend on the shares of RP; (iii) any mandatory or optional redemption of the shares of RP (iv) any assumption of control of the Board of Trustees by the Holders of shares of RP pursuant to Section 6(b); (v) in the event the Trust shall not be a party to a pricing services agreement and dealer quotes on assets are not available; (vi) in the event that the Applicable Dividend Rate equals or exceeds 95% of "AA" Composite Commercial Paper Rate; (vii) a change in dividend period; (viii) any person owning more than 5% of Trust's Common Shares; (ix) a change in Internal Revenue Service rules on Gross-up Dividends relating to the operation of the Trust; and (x) a change in pricing service.. 37