Net Asset Event. Client's Net Asset Value on any Business Day has declined by (i) 20% or more from Client's Net Asset Value on the last Business Day of the immediately preceding calendar month; (ii) 30% or more from Client's Net Asset Value on the last Business Day of the third calendar month immediately preceding such Business Day; or (iii) 40% or more from Client's Net Asset Value on the last Business Day in the same month in the immediately preceding calendar year (each a "Net Asset Event"); or
Appears in 3 contracts
Samples: Credit Agreement for Margin Financing (RiverNorth Flexible Municipal Income Fund, Inc.), Credit Agreement for Margin Financing (RiverNorth Opportunistic Municipal Income Fund, Inc.), Credit Agreement for Margin Financing (RiverNorth Managed Duration Municipal Income Fund, Inc.)
Net Asset Event. Client's ’s Net Asset Value on any at the last Business Day of any calendar month has declined by (i) 2030% or more from Client's ’s Net Asset Value on the last Business Day of the immediately preceding calendar month; (ii) 3040% or more from Client's ’s Net Asset Value on the last Business Day of the third calendar month immediately preceding such Business Day; or (iii) 4050% or more from Client's ’s Net Asset Value on the last Business Day in the same month in the immediately preceding calendar year (each a "“Net Asset Event"”); or
Appears in 2 contracts
Samples: Credit Agreement for Margin Financing (Rivernorth Opportunities Fund, Inc.), Credit Agreement (Rivernorth Opportunities Fund, Inc.)
