Common use of Compliance with Prospectus Clause in Contracts

Compliance with Prospectus. Such Borrower will at all times comply in all material respects with the investment objectives, limitations, and policies set forth in its Prospectus and Statement of Additional Information, and will not make any investment, loan, advance, or extension of credit inconsistent with those investment objectives, limitations, and policies. Such Borrower will not permit its investment objective or any fundamental policy or its diversified status (if it is diversified) to be changed from those in effect on the Effective Date (or, with respect to each Additional Fund which becomes a Fund hereunder, on the date such Additional Fund becomes a Fund hereunder) and reflected in its Prospectus and Statement of Additional Information delivered to Lenders on the Effective Date (or, with respect to each Additional Fund, on the date such Additional Fund becomes a Fund hereunder) without written notice to Agents and Lenders at least 30 days prior to the date of such proposed investment objective or any fundamental policy becoming effective. Upon receipt of such notice, Required Lenders may reduce the Borrowing Limit for any affected Borrower.

Appears in 4 contracts

Samples: Credit Agreement (Usaa Tax Exempt Fund Inc), Credit Agreement (Usaa State Tax Free Trust), Credit Agreement (Usaa Mutual Fund Inc)

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