Common use of HPS Managed Assets Clause in Contracts

HPS Managed Assets. For purposes of this Agreement, “HPS Managed Assets” includes capital, retained earnings and premium that are (i) not needed to support regulatory capital, regulatory collateral requirements or client underwriting collateral requirements, (ii) eligible for investment in non-investment grade investments even if such capital, retained earnings or premium are needed to support regulatory capital, regulatory collateral requirements or client underwriting collateral requirements or (iii) otherwise mutually agreed. For the avoidance of doubt, it is the intention of the parties hereto that all assets that are eligible for investment in non-investment grade investments will constitute the HPS Managed Assets and the Company undertakes to not take any action meant to circumvent such intent.