Portfolio Limitations Sample Clauses

Portfolio Limitations. During the period on and after the Closing Date and prior to the Effective Date, the Borrower will use the proceeds from the Loans and the Preferred Stock to purchase Fund Investments and for other uses permitted pursuant to Section 5.20. Such Fund Investments will from and after the Effective Date satisfy the Portfolio Limitations as of any trade date with respect to such Fund Investment or, if any Portfolio Limitation is not satisfied on any such date after the Effective Date, the relevant requirements thereof must be maintained or improved after giving effect to such purchase. Section 6.1.2
Sample 1
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Portfolio Limitations. Advance rate applicable to that portion of a direct investment in any specific security (other than Cash, Cash Equivalents or other government securities and Diversified Capital Markets Funds) exceeding 12% of net assets (“NAV”) of the Borrower, as disclosed in its most recent consolidated statement of assets and liabilities, will be 0% of advance rate (as specified in Annex II) otherwise applicable. Advance rate applicable to that portion of a direct investment in any specific industry (determined, for example, by reference to NAICS Codes) exceeding 25% of NAV will be 0%. For purposes hereof, concentration limitations for Portfolio Investments in private equity funds shall be determined in reference to the underlying portfolio investments of such funds and industry concentration limitations shall not apply. VALUATION CRITERIA Investments by the Obligors shall be valued as follows: · Quoted Investments (other than funds noted below) — to be valued monthly · Average bid prices of two approved dealers for public and 144A securities · Administrative Agent-approved exchange closing price · Administrative Agent-approved pricing service (including LPC for bank loans) provided, that it is agreed that Bloomberg Information Service is an Administrative Agent-approved quotation and pricing service · Unquoted Investments (other than funds noted below) — to be valued quarterly · Duff & Xxxxxx (or any nationally recognized valuation firm as may be approved by a majority of the independent directors of KPE General Partner) shall assist the Board of Directors of the Managing Investment Partner in determining the value or the methodology for determining value of unquoted investments, in accordance with the Borrower’s existing valuation procedures · Refreshed valuations for monthly compliance reports are not necessary, i.e. no requirement for external valuation for unquoted investments more often than quarterly; if an unquoted investment is acquired during a fiscal quarter, such investment shall have a value equal to the investment’s cost until the end of quarter valuation · Funds — net asset value · Valuation for Borrowing Base for each Tranche to be based on existing valuation procedures that require external valuation firms to confirm that the internal valuations are not unreasonable, provided that if the Borrower fails to determine the value of any investment, the value of such investment will be deemed to be zero. · All valuations shall be on a settlement date basis a...
Sample 1

Related to Portfolio Limitations

  • Trust Limitations This Agreement is executed by the Trust with respect to the Fund and the obligations hereunder are not binding on any of the trustees, officers or shareholders of the Trust individually, but are binding only on the Fund and the assets and property of the Fund.

  • Exceptions to Limitations Conversions to Alternate Base Rate Loans shall be permitted in the case of clauses (i) and (ii) of Section 2.1(b) above, in each case, unless the Administrative Agent has otherwise accelerated the Obligations or exercised other rights that terminate the Commitments under Section 10.2.

  • Investment Limitations If the Custodian has otherwise complied with the terms and conditions of this Agreement in performing its duties generally, and more particularly in connection with the purchase, sale or exchange of securities made by or for a Portfolio, the Custodian shall not be liable to the applicable Fund and such Fund agrees to indemnify the Custodian and its nominees, for any loss, damage or expense suffered or incurred by the Custodian and its nominees arising out of any violation of any investment or other limitation to which such Fund is subject.

  • Specific Limitations No Member shall have the right or power to: (a) withdraw or reduce such Member’s Capital Contribution except as a result of the dissolution of the Company or as otherwise provided by law or in this Agreement; (b) make voluntary Capital Contributions or to contribute any property to the Company other than cash; (c) bring an action for partition against the Company or any Company assets; (d) cause the termination and dissolution of the Company, except as set forth in this Agreement; or (e) upon the Distribution of its Capital Contribution require that property other than cash be distributed in return for its Capital Contribution. Each Member hereby irrevocably waives any such rights.

  • Loss Limitation Losses allocated pursuant to Section 3.2 of this Agreement shall not exceed the maximum amount of Losses that can be allocated without causing any Unit Holder to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. In the event some but not all of the Unit Holders would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section 3.2 of this Agreement, the limitation set forth in this Section 3.5 shall be applied on a Unit Holder by Unit Holder basis and Losses not allocable to any Unit Holder as a result of such limitation shall be allocated to the other Unit Holders in accordance with the positive balances in such Unit Holder’s Capital Accounts so as to allocate the maximum permissible Losses to each Unit Holder under Section 1.704-1(b)(2)(ii)(d) of the Regulations.

  • DIVERSIFICATION AND RELATED LIMITATIONS 6.1. The Trust and MFS represent and warrant that each Portfolio of the Trust will meet the diversification requirements of Section 817 (h) (1) of the Code and Treas. Reg. 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts, as they may be amended from time to time (and any revenue rulings, revenue procedures, notices, and other published announcements of the Internal Revenue Service interpreting these sections), as if those requirements applied directly to each such Portfolio.

  • Warranty Limitations The warranties in Sections 6.1.1 and -------------------- 6.1.2 shall not apply to FreeStyle Products that have been modified or altered in any manner by anyone other than by or on behalf of TheraSense, or to defects caused (i) through no fault of TheraSense during shipment to or from Nipro; (ii) by the use or operation in an application or environment other than that intended or recommended by TheraSense; (iii) by service by anyone other than employees of, or persons approved in writing by, TheraSense; (iv) by accident, negligence, misuse, other than normal electrical stress, or other causes other than normal use; or (v) by storage, usage or handling in any manner inconsistent with the FreeStyle Products label provided by TheraSense. Replacement FreeStyle Products supplied under this warranty shall carry only the unexpired portion of the original warranty. TheraSense shall not be liable for misbranding with respect to any product labeling or package insert text provided or used by Nipro, or any translation thereof and TheraSense shall not be liable for any adulteration or failure to meet the Product Specifications due to handling or packaging of the FreeStyle Products by Nipro, its Affiliates, its Subdistributors or agents.

  • Regulatory Limitations Notwithstanding any other provision of this Agreement, neither Buyer, Buyer Bank, Seller, nor Seller Bank shall be obligated to make, and Executive shall have no right to receive, any payment under this Agreement which would violate any law, regulation, or regulatory order applicable to Buyer, Buyer Bank, Seller, or Seller Bank, as applicable, at the time such payment is due, including, without limitation, Section 1828(k)(1) of Title 12 of the United States Code and any regulation or order thereunder of the Federal Deposit Insurance Corporation.

  • Indenture; Limitations The Company issued the Notes under an Indenture dated as of July 26, 2000 (the "Indenture"), between the Company and The Bank of New York, trustee (the "Trustee"). Capitalized terms herein are used as defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture shall control. The Notes are general unsecured obligations of the Company. The Company may, subject to Article Four of the Indenture and applicable law, issue additional Notes under the Indenture.

  • Review Process Limitations The Asset Representations Reviewer will have no obligation:

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