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Common use of Close-out Clause in Contracts

Close-out. Upon the Close-out of any Contract, the Close-out Amount for such Contract shall be due. If, however, Applicable Law would stay or otherwise impair the enforcement of the provisions of this Agreement or any Contract upon the occurrence of an insolvency related Close-out or Event of Default, then Close-out shall automatically occur immediately prior to the occurrence of such insolvency related Close-out or Event of Default.

Appears in 42 contracts

Samples: u.s. Pb Agreement (Muzinich BDC, Inc.), u.s. Pb Agreement (FS Global Credit Opportunities Fund), BNPP Ny Lending Agreement (Highland Global Allocation Fund)

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Close-out. Upon the Close-out of any Contract, the Close-out Amount for such Contract shall be due. due and payable by the relevant party thereto.. If, however, Applicable Law would stay or otherwise impair the enforcement of the provisions of this Agreement or any Contract upon the occurrence of an insolvency related Close-out or Event of Default, then Close-out shall automatically occur immediately prior to the occurrence of such insolvency related Close-out or Event of Default.

Appears in 2 contracts

Samples: u.s. Pb Agreement (Fiduciary/Claymore Energy Infrastructure Fund), u.s. Pb Agreement (Guggenheim Strategic Opportunities Fund)

Close-out. Upon the Close-out of any Contract, the Close-out Amount for such Contract shall be due. If, however, Applicable Law would stay or otherwise impair the enforcement of the provisions of this Agreement or any Contract upon the occurrence of an insolvency related Close-out or Event of Default, then Close-out shall automatically occur immediately prior to the occurrence of such insolvency related Close-out Closeout or Event of Default.

Appears in 1 contract

Samples: u.s. Pb Agreement (DNP Select Income Fund Inc)

Close-out. Upon the Close-out of any Contract, the Close-out Amount for such Contract shall be due. If, however, . Applicable Law would stay or otherwise impair the enforcement of the provisions of this Agreement or any Contract upon the occurrence of an insolvency related Close-out or Event of Default, then Close-out shall automatically occur immediately prior to the occurrence of such insolvency related Close-out or Event of Default.

Appears in 1 contract

Samples: u.s. Pb Agreement (Claymore/Guggenheim Strategic Opportunities Fund)

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Close-out. Upon the Close-out of any Contract, . the Close-out Amount for such Contract shall be duedue and payable by the relevant party thereto. If, however, . Applicable Law would stay or otherwise impair the enforcement of the provisions of this Agreement or any Contract upon the occurrence of an insolvency related Close-out or Event of Default, then Close-out shall automatically occur immediately prior to the occurrence of such insolvency related Close-out or Event of Default.

Appears in 1 contract

Samples: u.s. Pb Agreement (Guggenheim Credit Allocation Fund)

Close-out. Upon the Close-out of any Contract, the Close-out Amount for such Contract shall be duedue and payable by the relevant party thereto. If, however, Applicable Law would stay or otherwise impair the enforcement of the provisions of this Agreement or any Contract upon the occurrence of an insolvency related Close-out or Event of Default, then Close-out shall automatically occur immediately prior to the occurrence of such insolvency related Close-out or Event of Default.

Appears in 1 contract

Samples: u.s. Pb Agreement (Guggenheim Credit Allocation Fund)

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