Diversification and Concentration Sample Clauses

Diversification and Concentration. Direct obligations of the U.S. Government are exempt from all diversification limits in these guidelines. · Obligations of each of the U.S. government agencies are limited to no more than 10% of the Collateral Account per issuer. This concentration limit does not apply to U.S. government agencies received as collateral for repurchase agreements. · Repurchase agreements are limited to the lesser of 25% or $250 million of the Collateral Account per counterparty, provided that such limit shall never be less than $1 million per counterparty. · Assets that are not U.S. Government Securities, Agency Debt, Agency RMBS, US Government Money Market Funds, or Repurchase Agreements are limited to no more than 70% of the Collateral Account. · Investments in Designated Funds are limited to no more than 5% of the Collateral Account in any one Designated Fund and 10% of the Collateral Account in aggregate for all Designated Funds combined. · Commercial Paper is limited to the greater of 3% or $1 million per issuer, and is limited to no more than 30% of the Collateral Account. · The Funds will provide and amend from time to time a list of prohibited programs, such as ones with only one dealer. · Notes, bonds, and other debt obligations are limited to the greater of 3% or $1 million per issuer, and is limited to no more than 30% of the Collateral Account. · Certificates of Deposit, time deposits, and other bank obligations are limited to the greater of 3% or $1 million per issuer, and is limited to no more than 50% of the Collateral Account. · Asset-Backed Commercial Paper is limited to the greater of 3% or $1 million per issuer, and is limited to no more than 30% of the Collateral Account. · Weighted Average Life (WAL) of the portfolio is limited to 120 days. For purposes of such calculation investments in Designated Funds shall have a life of 1 day. WAL is based on final maturity. · Weighted Average Maturity (WAM) is limited to 60 days. For purposes of such calculation investments in Designated Funds shall have a life of 1 day. WAM is based on the shorter of final maturity or days to reset for floating obligations. · Target 20% of the portfolio to overnight maturities. For purposes of this calculation investments in Designated Fund shall be an overnight maturity. · Illiquid Assets are not permitted. These are defined as repurchase agreements with a maturity greater than 99 days and time deposits having a maturity greater than 7 days. Repurchase agreements with a maturity ...
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Related to Diversification and Concentration

  • Diversification 6.1. The Fund will at all times invest money from the Contracts in such a manner as to ensure that the Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

  • DIVERSIFICATION AND RELATED LIMITATIONS 6.1. The Trust and MFS represent and warrant that each Portfolio of the Trust will meet the diversification requirements of Section 817 (h) (1) of the Code and Treas. Reg. 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts, as they may be amended from time to time (and any revenue rulings, revenue procedures, notices, and other published announcements of the Internal Revenue Service interpreting these sections), as if those requirements applied directly to each such Portfolio. 6.2. The Trust and MFS represent that each Portfolio will elect to be qualified as a Regulated Investment Company under Subchapter M of the Code and that they will maintain such qualification (under Subchapter M or any successor or similar provision).

  • Portfolio Valuation and Diversification Etc Risk Factor Ratings;

  • Commingling and Investment The Trustee is expressly authorized in its discretion: (a) To transfer from time to time any or all of the assets of the Fund to any common, commingled, or collective trust fund created by the Trustee in which the Fund is eligible to participate, subject to all of the provisions thereof, to be commingled with the assets of other trusts participating therein; and (b) To purchase shares in any investment company registered under the Investment Company Act of 1940, 15 U.S.C. 80a-1 et seq., including one which may be created, managed, underwritten, or to which investment advice is rendered or the shares of which are sold by the Trustee. The Trustee may vote such shares in its discretion.

  • STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO In performing the responsibilities delegated to it, the Foreign Custody Manager agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.

  • Portfolios The Target Portfolio and Acquiring Portfolio covenant and agree to dispose of certain assets prior to the Closing Date, but only if and to the extent necessary, so that at Closing, when the Assets are added to the Acquiring Portfolio’s portfolio, the resulting portfolio will meet the Acquiring Portfolio’s investment objective, policies and restrictions, as set forth in the Acquiring Portfolio’s Prospectus, a copy of which has been delivered to the Target Portfolio. Notwithstanding the foregoing, nothing herein will require the Target Portfolio to dispose of any portion of the Assets if, in the reasonable judgment of the Target Portfolio’s Directors or investment adviser, such disposition would create more than an insignificant risk that the Reorganization would not be treated as a “reorganization” described in Section 368(a) of the Code.

  • IRANIAN ENERGY SECTOR DIVESTMENT In accordance with Section 2879-c of the Public Authorities Law, by signing this contract, each person and each person signing on behalf of any other party certifies, and in the case of a joint bid or partnership each party thereto certifies as to its own organization, under penalty of perjury, that to the best of its knowledge and belief that each person is not on the list created pursuant to paragraph (b) of subdivision 3 of Section 165-a of the State Finance Law (See xxxxx://xxx.xx.xxx/iran-divestment-act-2012).

  • Commingling The Seller shall not, and shall not permit any of its Affiliates to, deposit or permit the deposit of any funds that do not constitute Collections of any Loan Asset into the Interest Collection Subaccount or the Principal Collection Subaccount.

  • Master Feeder Structure If permitted by the 1940 Act, the Board of Trustees, by vote of a majority of the Trustees, and without a Shareholder vote, may cause the Trust or any one or more Series to convert to a master feeder structure (a structure in which a feeder fund invests all of its assets in a master fund, rather than making investments in securities directly) and thereby cause existing Series of the Trust to either become feeders in a master fund, or to become master funds in which other funds are feeders.

  • CLASSIFICATION AND WAGES 29.01 (a) Schedule “A” hereto headed Classification and Wages is hereby made part of this Agreement.

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