Common use of Collateral Security for Loans Clause in Contracts

Collateral Security for Loans. (a) As a condition precedent to making any Loan to any Borrower or continuing any Loan made to any Borrower, the Borrower covenants and agrees that in the event that (i) the Borrower’s outstanding borrowings from all sources immediately after the Loan would exceed 10% of its total assets, (ii) the Borrower’s outstanding borrowings from all sources exceed 10% of the Borrower’s total assets for any reason (such as a decline in net asset value or because of shareholder redemptions), or (iii) the Borrower has Outstanding Secured Borrowings, within one (1) Business Day (except as required by Section 3.11(b) below), the Borrower will

Collateral Security for Loans. (a) As a condition precedent to making any Loan to any Borrower or continuing any Loan made to any Borrower, the Borrower covenants and agrees that in the event that (i) the Borrower’s 's outstanding borrowings from all sources immediately after the Loan would exceed 10% of its total assets, (ii) the Borrower’s 's outstanding borrowings from all sources exceed 10% of the Borrower’s 's total assets for any reason (such as a decline in net asset value or because of shareholder redemptions), or (iii) the Borrower has Outstanding Secured Borrowings, within one (1) Business Day (except as required by Section 3.11(b) below), the Borrower will

Collateral Security for Loans. (a) As a condition precedent to making any Loan to any Borrower or continuing any Loan made to any Borrower, the Borrower covenants and agrees that in the event that (i) the Borrower’s outstanding borrowings from all sources immediately after the Loan would exceed 10% of its total assets, (ii) the Borrower’s outstanding borrowings from all sources exceed 10% of the Borrower’s total assets for any reason (such as a decline in net asset value or because of shareholder redemptions), or (iii) the Borrower has Outstanding Secured Borrowings, within one (1) Business Day (except as required by Section 3.11(b) below), the Borrower willwill (i) repay all its outstanding Loans;

Collateral Security for Loans. (a) As a condition precedent to making any Loan to any Borrower or continuing any Loan made to any Borrower, the Borrower covenants and agrees that in the event that (i) the Borrower’s 's outstanding borrowings from all sources immediately after the Loan would exceed 10% of its total assets, (ii) the Borrower’s Xxxxxxxx's outstanding borrowings from all sources exceed 10% of the Borrower’s 's total assets for any reason (such as a decline in net asset value or because of shareholder redemptions), or (iii) the Borrower has Outstanding Secured Borrowings, within one (1) Business Day (except as required by Section 3.11(b) below), the Borrower will

Collateral Security for Loans. (a) As a condition precedent to making any Loan to any Borrower or continuing any Loan Xxxx made to any Borrower, the Borrower covenants and agrees that in the event that (i) the Borrower’s 's outstanding borrowings from all sources immediately after the Loan would exceed 10% of its total assets, (ii) the Borrower’s 's outstanding borrowings from all sources exceed 10% of the Borrower’s 's total assets for any reason (such as a decline in net asset value or because of shareholder redemptions), or (iii) the Borrower has Outstanding Secured Borrowings, within one (1) Business Day (except as required by Section 3.11(b) below), the Borrower will