MATURITY GUIDELINES. 1. FIXED RATE INSTRUMENTS: shall have a Final Maturity at the time of purchase that does not exceed 12 months.
MATURITY GUIDELINES. 1. FIXED RATE INSTRUMENTS: shall have a Final Maturity at the time of purchase that does not exceed 397 days.
2. FLOATING RATE INSTRUMENTS: U.S. Government Securities shall have a Final Maturity that does not exceed 397 days.
MATURITY GUIDELINES. Fixed Rate Instruments and Floating Rate Instruments (including U.S. Government Securities) shall have a Final Maturity6 equal to 5 business days or fewer from the settlement date of the trade.
MATURITY GUIDELINES. ● All Approved Investments will have a maturity of the next business day. Bank may utilize an alternative trading system DBVX ATS (“DBVX”) for certain repurchase transactions. DBVX is registered with the SEC and operated by BNY Mellon Capital Markets, LLC, a SEC-registered broker-dealer. DBVX and BNY Mellon Capital Markets, LLC are affiliates of The Bank of New York Mellon. More information can be found at: xxxxx://xxx.xxxxxxxxx.xxx/us/en/what-we-do/markets/dbvx.jsp Agreed to and Approved by Agreed to and Approved by HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. ACTING SOLELY ON BEHALF OF EACH OF ITS ADVISED FUNDS IDENTIFIED ON ATTACHMENT 1 HERETO SEVERALLY AND NOT JOINTLY By: /s/ Xxxxx Xxxxxxxxxx (Signature) Name: Xxxxx Xxxxxxxxxx Title: Treasurer NEXPOINT ADVISORS, L.P. ACTING SOLELY ON BEHALF OF EACH OF ITS ADVISED FUNDS IDENTIFIED ON ATTACHMENT 1 HERETO SEVERALLY AND NOT JOINTLY By: /s/ Xxxxx Xxxxxxxxxx (Signature) Name: Xxxxx Xxxxxxxxxx Title: Treasurer THE BANK OF NEW YORK MELLON By: /s/ Xxxx Xxxx (Signature) Name: Xxxx Xxxx Title: Director, Securities Finance By: /s/ Xxxxx X. Xxx (Signature) Name: Xxxxx X. Xxx Title: Director, Securities Finance THE BANK OF NEW YORK MELLON and (“Bank”) and HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. (“HCMFA”) and NEXPOINT ADVISORS, L.P. (“NexPoint”, and together with HCMFA, the “Client”), each acting solely on behalf of each of their respective advised funds identified on Attachment 1 hereto, as amended, modified or supplemented from time to time (each a “Lender” and collectively the “Lenders”) The following is the list of Borrowers in the Program referred to in the Agreement, as of the date of the Agreement.
MATURITY GUIDELINES. 1. Fixed rate instruments: shall have a Final Maturity at the time of purchase that does not exceed 2 years.
2. Floating rate instruments: U.S. Government Securities shall have a Final Maturity that does not exceed 5 years, while all other floating rate instruments shall have a Final Maturity that does not exceed 3 years.
MATURITY GUIDELINES. Approved Investments will have a maximum final maturity of 3 years from settlement date. In the case of asset-backed securities, a maximum weighted average life (WAL) of 3 years from settlement date will apply. • The weighted average maturity of Approved Investments in the Cash Collateral Account (based on the shorter of final maturity or days to reset for floating rate obligations) shall not exceed 90 days.
MATURITY GUIDELINES. 1. Fixed rate instruments: shall have a Final Maturity at the time of purchase that does not exceed 12 months.
MATURITY GUIDELINES. Time Deposits = Overnight Only. However, on occasion where affected by legal holiday or with the prior consent of MSDWIM, Chase, on behalf of the Account, may purchase time deposits with a maximum maturity not to exceed 4 business days. - Term Repurchase Agreements = No Greater than 7 days - All other instruments must have a Final Maturity at the time of purchase that does not exceed 397 days Final Maturity, for purposes of these guidelines, means the earliest of (i) the date noted on the face of the instrument as the date on which the principal amount must be paid, (ii) in the case of an instrument with an unconditional put or unconditional demand feature, the date on which the principal amount of the instrument can be recovered by demand, or (iii) in the case of a variable rate instrument, the principal amount of which, in accordance with its terms, must unconditionally be paid in 397 calendar days or less shall be deemed to have a maturity equal to the earlier of the period remaining until the next readjustment of the interest rate or the period remaining until the principal amount can be recovered through demand, (iv) in the case of a variable rate instrument, the principal amount of which is scheduled to be paid in more than 397 calendar days, that is subject to a demand feature, shall be deemed to have a maturity equal to the longer of the period remaining until the next readjustment of the interest rate or the period remaining until the principal amount can be recovered through demand, (v) a floating rate security, the principal amount of which, in accordance with its terms, must unconditionally be paid in 397 calendar days or less shall be deemed to have a maturity of one day, (vi) a floating rate security, the principal amount of which is scheduled to be paid in more than 397 calendar days, that is subject to a demand feature, shall be deemed to have a maturity equal to the period remaining until the principal amount can be recovered through demand. - A repurchase agreement shall be deemed to have a maturity equal to the period remaining until the date on which the repurchase of the underlying securities is scheduled to occur, or, where no date is specified, but the agreement is subject to a demand, the notice period applicable to a demand for the repurchase of the securities. The maximum weighted average days to maturity, for all investments made by Chase on behalf of the Account, may not exceed 90 days.
MATURITY GUIDELINES. 1. Fixed rate instruments must have a Final Maturity at the time of purchase that does not exceed 2 years.
2. Floating rate instruments which are U.S. Government Securities must have a Final Maturity that does not exceed 5 years and all other floating rate instruments must have a Final Maturity that does not exceed 2 years.
3. Final Maturity for purposes of these guidelines means the earliest of (i) the date noted on the face of the instrument as the date on which the principal amount must be paid, (ii) in the case of an instrument with an unconditional put or unconditional demand feature, the date on which the principal amount of the instrument can be recovered by demand, or (iii) in the case of a floating rate instrument, the next readjustment of the interest rate, provided that, if the maturity of a floating rate instrument is determined by reference to an unconditional put or unconditional demand feature, the period remaining between adjustments of the interest rate must not exceed the period specified in paragraph F.1. A floating rate instrument shall be deemed to have a maturity equal to the period remaining until the next readjustment of the interest rate, for purposes of calculating days to maturity of the instrument and the portfolio's weighted average maturity.
4. A repurchase agreement shall be deemed to have a maturity equal to the period remaining until the date on which the repurchase of the underlying securities is scheduled to occur, or, where no date is specified, but the agreement is subject to a demand, the notice period applicable to a demand for the repurchase of the securities.
5. Adjustable rate mortgages will have a maturity equal to the period remaining until the last principal payment is required by the terms of the underlying obligation to be paid.
6. The Fund's maximum weighted average days to maturity may not exceed 120.
MATURITY GUIDELINES. All Approved Investments will have a maturity of the next business day. The following is the list of Borrowers in the Program referred to in Section 1 (entitled Appointment of Lending Agent) of the Securities Lending Authorization dated December 29, 2016, by and between The Bank of New York Mellon, as Lending Agent, and Chou America Mutual Funds, as Client.
