Common use of Notice and Manner of Borrowings Clause in Contracts

Notice and Manner of Borrowings. Subject to the terms and conditions hereof, the Bank will make revolving loans to a Borrower under the Committed Line (each such loan, a "Loan") not to exceed in the aggregate outstanding at any time to any one Borrower the least of (a) $10,000,000, (b) when combined with the aggregate principal amount of all loans outstanding at such time to such Borrower under the Uncommitted Secured Redemption Facility, if any, the least of (i) the current Borrowing Base of such Borrower, (ii) 20% times (A) the value of the total assets of such Borrower less (B) such Borrower’s total liabilities (other than Indebtedness for Borrowed money), less (C) the value of any assets of such Borrower pledged to, or otherwise segregated for the benefit of a party other than the Bank and in connection with a liability not reflected in the calculation of such Borrower’s total liabilities, and (iii) the maximum amount which such Borrower is permitted to borrow at any time or in the aggregate pursuant to its Prospectus, the Investment Company Act or any registration made thereunder, any vote of the shareholders of such Borrower, any agreement of such Borrower with any foreign, federal, state or local securities division to which such Borrower is subject, any other applicable agreement or document to which such Borrower is a party or any law, rule or regulation applicable to such Borrower (the least of (b)(i), (b)(ii), and (b)(iii), the “Maximum Individual Borrower Limit”). Notwithstanding the foregoing, at no time shall the aggregate outstanding amount of all Loans to all Borrowers hereunder exceed $10,000,000 (the "Committed Line Amount"). Each request for a Loan hereunder or repayment thereof shall be made in an amount equal to or exceeding $10,000, unless such transaction is a full repayment of all outstanding borrowings to a Borrower. At the time of a borrowing request, the relevant Borrower shall deliver (a) a completed loan request in the form of Exhibit B attached hereto, (b) a completed current Borrowing Base Certificate in the form of Exhibit C attached hereto, (c) a completed Collateral Notice in the form of Exhibit A to the applicable Security Agreement to which such Borrower is a party, and (d) to the extent required by Regulation U of the Board of Governors of the Federal Reserve System in connection with the requested Loan, an amended purpose statement on Form FR U-1 and/or current list of Collateral, as required by the Bank, such documents in each case to be received by the Bank not later than (i) 3:00 P.M. Boston time on the Business Day on which such Loan is to be made in the case of Overnight Rate Loans, as defined below; and (ii) 12:00 P.M. Boston time on the third Business Day prior to the Business Day on which such Loan is to be made, continued, or converted in the case of LIBOR Rate Loans, as defined below. On the date a Loan is to be made, the Bank shall make available such Loan amount (y) promptly after receipt of notice in the case Overnight Rate Loans; and (z) not later than 3:00 P.M. in the case of LIBOR Rate Loans. Each Loan request hereunder shall be deemed to be a confirmation by such Borrower that no Default has occurred and is continuing hereunder with respect to such Borrower, that the representations and warranties of the Borrower described below remain true and correct and that no borrowing limitations applicable to the Borrower will be exceeded after giving effect to the requested Loan, each of which shall be a precondition to the making of any Loan hereunder.

Notice and Manner of Borrowings. Subject to the terms and conditions hereof, the Bank will make revolving loans to a Borrower under the Committed Line (each such loan, a "Loan") not to exceed in the aggregate outstanding at any time with respect to any one Borrower the least of (a) $10,000,0009,000,000, (b) when combined with the aggregate principal amount of all loans outstanding at such time to such Borrower under the Uncommitted Secured Redemption Facility, if any, the least of (i) the current Borrowing Base of such Borrowerthe Borrower for which a Loan is extended, (iic) 20% times (A) of the value of the total assets of such the Borrower for which a Loan is extended less (B) such Borrower’s 's total liabilities not represented by senior securities (other than Indebtedness for Borrowed moneyas defined in the Investment Company Act), less (C) the value of any assets of such the Borrower pledged to, or otherwise segregated for the benefit of a party other than the Bank and in connection with a liability not reflected in the calculation of such the Borrower’s 's total liabilities, ; and (iiid) the maximum amount which such the Borrower for which a Loan is made is permitted to borrow at any time or in the aggregate pursuant to its the Prospectus, the Investment Company Act or any registration made thereunder, any vote of the shareholders of such the Borrower, any agreement of such the Borrower with any foreign, federal, state or local securities division to which such the Borrower is subject, any other applicable agreement or document to which such the Borrower is a party or any law, rule or regulation applicable to such the Borrower (the least of (b)(ia), (b)(iib), (c), and (b)(iii), d) the “"Maximum Individual Borrower Limit”Facility Amount"). Notwithstanding the foregoing, at no time shall the aggregate outstanding amount of all Loans to all Borrowers hereunder exceed $10,000,000 9,000,000 (the "Committed Line Amount"). Each request for a Loan hereunder or repayment thereof shall be made in an amount equal to or exceeding $10,000, unless such transaction is a full repayment of all outstanding borrowings to a the Borrower. At the time of a borrowing request, the relevant Borrower shall deliver (a) a completed loan request in the form of Exhibit B attached hereto, (b) and a completed current Borrowing Base Certificate in the form of Exhibit C C, each attached hereto, (c) a completed Collateral Notice in the form of Exhibit A to the applicable Security Agreement to which such Borrower is a party, and (d) to the extent required by Regulation U of the Board of Governors of the Federal Reserve System in connection with the requested Loan, an amended purpose statement on Form FR U-1 and/or current list of Collateral, as required by the Bank, such documents in each case to be received by the Bank not later than (ia) 3:00 P.M. Boston time on the Business Day on which such Loan is to be made in the case of Overnight Federal Funds Rate Loans, as defined below; and (iib) 12:00 P.M. Boston time on the third Business Day prior to the Business Day on which such Loan is to be made, continued, or converted in the case of LIBOR Rate Loans, as defined below. On the date a Loan is to be made, the Bank shall make available such Loan amount (ya) promptly after receipt of notice in the case Overnight Federal Funds Rate Loans; and (zb) not later than 3:00 P.M. in the case of LIBOR Rate Loans. Each Loan request hereunder shall be deemed to be a confirmation by such Borrower that no Default has occurred and is continuing hereunder with respect to such Borrower, that the representations and warranties of the Borrower described below remain true and correct and that no borrowing limitations applicable to the Borrower will be exceeded after giving effect to the requested Loan, each of which shall be a precondition to the making of any Loan hereunder.. Midas Family of Funds As of July 18, 2003

Notice and Manner of Borrowings. Subject to the terms and conditions hereof, the Bank will make revolving loans to a Borrower under the Committed Line (each such loan, a "Loan") not to exceed in the aggregate outstanding at any time to any one Borrower the least of (a) $10,000,000, (b) when combined with the aggregate principal amount of all loans outstanding at such time to such Borrower under the Uncommitted Secured Redemption Facility, if any, the least of (i) the current Borrowing Base of such Borrower, (ii) 20% times (A) the value of the total assets of such Borrower less (B) such Borrower’s 's total liabilities (other than Indebtedness for Borrowed money), less (C) the value of any assets of such Borrower pledged to, or otherwise segregated for the benefit of a party other than the Bank and in connection with a liability not reflected in the calculation of such Borrower’s 's total liabilities, and (iii) the maximum amount which such Borrower is permitted to borrow at any time or in the aggregate pursuant to its Prospectus, the Investment Company Act or any registration made thereunder, any vote of the shareholders of such Borrower, any agreement of such Borrower with any foreign, federal, state or local securities division to which such Borrower is subject, any other applicable agreement or document to which such Borrower is a party or any law, rule or regulation applicable to such Borrower (the least of (b)(i), (b)(ii), and (b)(iii), the “"Maximum Individual Borrower Limit”"). Notwithstanding the foregoing, at no time shall the aggregate outstanding amount of all Loans to all Borrowers hereunder exceed $10,000,000 (the "Committed Line Amount"). Each request for a Loan hereunder or repayment thereof shall be made in an amount equal to or exceeding $10,000, unless such transaction is a full repayment of all outstanding borrowings to a Borrower. At the time of a borrowing request, the relevant Borrower shall deliver (a) a completed loan request in the form of Exhibit B attached hereto, (b) a completed current Borrowing Base Certificate in the form of Exhibit C attached hereto, (c) a completed Collateral Notice in the form of Exhibit A to the applicable Security Agreement to which such Borrower is a party, and (d) to the extent required by Regulation U of the Board of Governors of the Federal Reserve System in connection with the requested Loan, an amended purpose statement on Form FR U-1 and/or current list of Collateral, as required by the Bank, such documents in each case to be received by the Bank not later than (i) 3:00 P.M. Boston time on the Business Day on which such Loan is to be made in the case of Overnight Rate Loans, as defined below; and (ii) 12:00 P.M. Boston time on the third Business Day prior to the Business Day on which such Loan is to be made, continued, or converted in the case of LIBOR Rate Loans, as defined below. On the date a Loan is to be made, the Bank shall make available such Loan amount (y) promptly after receipt of notice in the case Overnight Rate Loans; and (z) not later than 3:00 P.M. in the case of LIBOR Rate Loans. Each Loan request hereunder shall be deemed to be a confirmation by such Borrower that no Default has occurred and is continuing hereunder with respect to such Borrower, that the representations and warranties of the Borrower described below remain true and correct and that no borrowing limitations applicable to the Borrower will be exceeded after giving effect to the requested Loan, each of which shall be a precondition to the making of any Loan hereunder.