Common use of Maintenance of Effective Leverage Ratio Clause in Contracts

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall calculate, for purposes of Section 2.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(n) and 6.1(o) and 6.1(p), Xxxxx Fargo shall the Purchaser may calculate, for purposes of Section 2.5(b)(ii)(A)(y2.6(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(n) and 6.1(o) and 6.1(p) and the market values Market Values of securities determined by the third-party pricing service which provided the market values Market Values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(n) and 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the Fund’s Issuer's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo the Purchaser shall calculate, for purposes of Section 2.5(b)(ii)(A)(y2.3(c) of the StatementNotice, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values Market Values of securities determined by the third-party pricing service which that provided the market values such Market Values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as and if so calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the Fund. If requiredrequired based on such calculations, the Fund shall restore the Effective Leverage Ratio as provided in Section 2.4(b)(ii) of the StatementNotice. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, Ratio set out in Section 2.4(d) of the StatementNotice. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo the Purchaser shall calculate, for purposes of Section 2.5(b)(ii)(A)(y2.2(c) of the StatementSupplement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values Market Values of securities determined by the third-party pricing service which that provided the market values such Market Values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as and if so calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the Fund. If requiredrequired based on such calculations, the Fund shall restore the Effective Leverage Ratio as provided in Section 2.3(c)(ii) of the StatementSupplement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, Ratio set out in Section 2.4(d2.2(d) of the StatementSupplement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall calculate, for purposes of Section 2.5(b)(ii)(A)(y2.5(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(o6.1(m) and 6.1(p6.1(n), Xxxxx Fargo shall the Purchaser may calculate, for purposes of Section 2.5(b)(ii)(A)(y2.6(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o6.1(m) and 6.1(p6.1(n) and the market values Market Values of securities determined by the third-party pricing service which provided the market values Market Values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(o6.1(m) and 6.1(p6.1(n). The Effective Leverage Ratio as calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the Fund’s Issuer's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall may calculate, for purposes of Section 2.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section Sections 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo so long as Xxxxx Fargo holds AMTP Shares in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall calculate, for purposes of Section 2.5(b)(ii)(A)(y2.6(b)(ii)(A)(2) of the StatementArticles, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the StatementArticles. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the StatementArticles. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall calculate, for purposes of Section 2.5(b)(ii)(A)(y2.6(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo the Purchasers shall calculate, for purposes of Section 2.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo WFMCS so long as WFMCS holds New VMTP Shares, and otherwise, as calculated by WFNA so long as WFNA holds New VMTP Shares, in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo BAPFC shall calculate, for purposes of Section 2.5(b)(ii)(A)(y2.6(b)(ii)(A)(2) of the StatementArticles, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo BAPFC in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the StatementArticles. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the StatementArticles. In connection with calculating the Effective Leverage Ratio, the Fund’s 's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s 's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall the Purchasers may calculate, for purposes of Section 2.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section Sections 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo WFMCS so long as WFMCS holds AMTP Shares, and otherwise, as calculated by WFNA so long as WFNA holds AMTP Shares, in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(o6.1(m) and 6.1(p6.1(n), Xxxxx Fargo shall the Purchaser may calculate, for purposes of Section 2.5(b)(ii)(A)(y2.5(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o6.1(m) and 6.1(p6.1(n) and the market values Market Values of securities determined by the third-party pricing service which provided the market values Market Values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(o6.1(m) and 6.1(p6.1(n). The Effective Leverage Ratio as calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the Fund’s Issuer's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(o6.1(m) and 6.1(p6.1(n), Xxxxx Fargo shall the Purchaser may calculate, for purposes of Section 2.5(b)(ii)(A)(y2.6(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o6.1(m) and 6.1(p6.1(n) and the market values Market Values of securities determined by the third-party pricing service which provided the market values Market Values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(o6.1(m) and 6.1(p6.1(n). The Effective Leverage Ratio as calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the FundIssuer’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the FundIssuer’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo the Purchaser shall calculate, for purposes of Section 2.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any the Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the FundIssuer’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the FundIssuer’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p6.1(m)and 6.1(n), Xxxxx Fargo shall the Purchaser may calculate, for purposes of Section 2.5(b)(ii)(A)(y2.6(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o6.1(m) and 6.1(p6.1(n) and the market values Market Values of securities determined by the third-party pricing service which provided the market values Market Values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o6.1(m) and 6.1(p6.1(n). The Effective Leverage Ratio as calculated by Xxxxx Fargo the Purchaser in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall calculate, for purposes of Section 2.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the FundIssuer’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the FundIssuer’s valuation policies.