Common use of Lending and borrowing Clause in Contracts

Lending and borrowing. 9.1. Subject to the Investment Policy of a Series and as provided in this Clause 10, investments comprised in the Portfolio of a Series and documents of title and certificates evidencing title to such investments and other property acquired under this Agreement may not be lent to a third party nor may money be borrowed on the Client’s or a Series’ behalf against the security of such investments, documents and property. 9.2. Subject to the Investment Policy of a Series, an overdraft facility or line of credit may be established on behalf of each Series and may be used as a temporary measure for the extraordinary or emergency needs of each Series. 9.3. Subject to the Investment Policy of a Series and to the temporary borrowing facility provided for in 10.2 above, the Manager may not commit the Client or a Series to supplement the monies in the Portfolio of a Series either by borrowing on its behalf or by committing it to a contract the performance of which may require them to supplement the Portfolio of such Series.

Lending and borrowing. 9.110.1. Subject to the Investment Policy of a Series and as provided in this Clause 10, investments comprised in the Portfolio of a Series and documents of title and certificates evidencing title to such investments and other property acquired under this Agreement may not be lent to a third party nor may money be borrowed on the Client’s or a Series’ behalf against the security of such investments, documents and property. 9.210.2. Subject to the Investment Policy of a Series, an overdraft facility or line of credit may be established on behalf of each Series and may be used as a temporary measure for the extraordinary or emergency needs of each Series. 9.310.3. Subject to the Investment Policy of a Series and to the temporary borrowing facility provided for in 10.2 above, the Manager may not commit the Client or a Series to supplement the monies in the Portfolio of a Series either by borrowing on its behalf or by committing it to a contract the performance of which may require them to supplement the Portfolio of such Series.

Lending and borrowing. 9.1. 10.1 Subject to the Investment Policy of a Series and as provided in this Clause 10, investments comprised in the Portfolio of a Series and documents of title and certificates evidencing title to such investments and other property acquired under this Agreement may not be lent to a third party nor may money be borrowed on the Client’s 's or a Series’ ' behalf against the security of such investments, documents and property. 9.2. 10.2 Subject to the Investment Policy of a Series, an overdraft facility or line of credit may be established on behalf of each Series and may be used as a temporary measure for the extraordinary or emergency needs of each Series. 9.3. 10.3 Subject to the Investment Policy of a Series and to the temporary borrowing facility provided for in 10.2 above, the Manager may not commit the Client or a Series to supplement the monies in the Portfolio of a Series either by borrowing on its behalf or by committing it to a contract the performance of which may require them to supplement the Portfolio of such Series.

Lending and borrowing. 9.1. 10.1 Subject to the Investment Policy of a Series and as provided in this Clause 10, investments comprised in the Portfolio of a Series and documents of title and certificates evidencing title to such investments and other property acquired under this Agreement may not be lent to a third party nor may money be borrowed on the Client’s Company's or a Series’ ' behalf against the security of such investments, documents and property. 9.2. 10.2 Subject to the Investment Policy of a Series, an overdraft facility or line of credit may be established on behalf of each Series and may be used as a temporary measure for the extraordinary or emergency needs of each Series. 9.3. 10.3 Subject to the Investment Policy of a Series and to the temporary borrowing facility provided for in 10.2 above, the Manager may not commit the Client Company or a Series to supplement the monies in the Portfolio of a the Series either by borrowing on its behalf or by committing it to a contract the performance of which may require them to supplement the Portfolio of such Series.