Common use of Credit Quality Clause in Contracts

Credit Quality. As of the Effective Date, the Fund shall invest at least 80% of its Managed Assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Xxxxx’x, or Fitch) or, if they are unrated, are judged by the Sub-Adviser to be of comparable quality. The Fund may invest up to 20% of its Managed Assets in municipal securities rated below investment quality or judged by the Sub-Adviser to be of comparable quality, of which up to 10% of its Managed Assets may be rated below B-/B3 or of comparable quality.

Credit Quality. As of the Effective Date, the Fund shall invest has invested at least 80% of its Managed Assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Xxxxx’x, or Fitch) or, if they are unrated, are judged by the Sub-Adviser to be of comparable quality. The Fund may invest has invested up to 20% of its Managed Assets in municipal securities rated below investment quality or judged by the Sub-Adviser to be of comparable quality, of which up to 10% of its Managed Assets may be have been rated below B-/B3 or of comparable quality.

Credit Quality. As of the Effective Date, the Fund shall invest at least 80% of its Managed Assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Xxxxx’xXxxxx'x, or Fitch) or, if they are unrated, are judged by the Sub-Adviser to be of comparable quality. The Fund may invest up to 20% of its Managed Assets in municipal securities rated below investment quality or judged by the Sub-Adviser to be of comparable quality, of which up to 10% of its Managed Assets may be rated below B-/B3 or of comparable quality.

Credit Quality. As of the Effective Date, the Fund shall invest has invested at least 80% of its Managed Assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Xxxxx’xXxxxx'x, or Fitch) or, if they are unrated, are judged by the Sub-Adviser to be of comparable quality. The Fund may invest has invested up to 20% of its Managed Assets in municipal securities rated below investment quality or judged by the Sub-Adviser to be of comparable quality, of which up to 10% of its Managed Assets may be have been rated below B-/B3 or of comparable quality.