Repurchase Agreements. With respect to all agreements pursuant to which the Company or any of its Subsidiaries has purchased securities subject to an agreement to resell, if any, the Company or any of its Subsidiaries, as the case may be, has a valid, perfected first lien or security interest in the government securities or other collateral securing the repurchase agreement, and, as of the date hereof, the value of such collateral equals or exceeds the amount of the debt secured thereby.
Repurchase Agreements. The Fund can acquire securities subject to repurchase agreements. It may do so for liquidity purposes to meet anticipated redemptions of Fund shares, or pending the investment of the proceeds from sales of Fund shares, or pending the settlement of portfolio securities transactions, or for temporary defensive purposes, as described below. In a repurchase transaction, the Fund buys a security from, and simultaneously resells it to, an approved vendor for delivery on an agreed-upon future date. The resale price exceeds the purchase price by an amount that reflects an agreed-upon interest rate effective for the period during which the repurchase agreement is in effect. Approved vendors include U.S. commercial banks, U.S. branches of foreign banks, or broker-dealers that have been designated as primary dealers in government securities. They must meet credit requirements set by the Manager from time to time. The majority of these transactions run from day to day, and delivery pursuant to the resale typically occurs within one to five days of the purchase. Repurchase agreements having a maturity beyond seven days are subject to the Fund's limits on holding illiquid investments. The Fund will not enter into a repurchase agreement that causes more than 10% of its net assets to be subject to repurchase agreements having a maturity beyond seven days. There is no limit on the amount of the Fund's net assets that may be subject to repurchase agreements having maturities of seven days or less. Repurchase agreements, considered "loans" under the Investment Company Act, are collateralized by the underlying security. The Fund's repurchase agreements require that at all times while the repurchase agreement is in effect, the value of the collateral must equal or exceed the repurchase price to fully collateralize the repayment obligation. However, if the vendor fails to pay the resale price on the delivery date, the Fund may incur costs in disposing of the collateral and may experience losses if there is any delay in its ability to do so. The Manager will impose creditworthiness requirements to confirm that the vendor is financially sound and will continuously monitor the collateral's value.
Repurchase Agreements. Municipal Obligations;
Repurchase Agreements. Where stated in Annex A in respect of the relevant Sub-Fund, the Management Company may, for efficient portfolio management purposes only, enter on behalf of such Sub-Fund into repurchase agreements or reverse repurchase agreements, provided that the counterparty is an Eligible Counterparty and that the ability of the Sub-Fund to meet redemption requests is in no way impaired as a result of such transaction. Repurchase agreements are a type of securities lending transaction in which one party sells a security to the other party with a simultaneous agreement to repurchase the security at a fixed future date at a stipulated price reflecting a market rate of interest unrelated to the coupon rate of the securities. A reverse repurchase agreement is a transaction whereby a Sub-Fund purchases securities from a counterparty and simultaneously commits to resell the securities to the counterparty at an agreed upon date and price.
Repurchase Agreements. Where stated in Annex A, the Management Company on behalf of a Sub-Fund may enter into repurchase arrangements. Accordingly, the Sub-Fund will bear a risk of loss in the event that the other party to the transaction defaults on its obligation and the Sub-Fund is delayed or prevented from exercising its rights to dispose of the underlying securities. The Sub-Fund will, in particular, be subject to the risk of a possible decline in the value of the underlying securities during the period in which the Sub- Fund seeks to assert its right to them, the risk of incurring expenses associated with asserting those rights and the risk of losing all or a part of the income from the agreement. Collateral Risk. Collateral or margin may be passed by the relevant Sub-Fund to a counterparty or broker in respect of OTC derivative transactions or Securities Financing Transactions. Assets deposited as collateral or margin with brokers may not be held in segregated accounts by the brokers and may therefore become available to the creditors of such brokers in the event of their insolvency or bankruptcy. Where collateral is posted to a counterparty or broker by way of title transfer, the collateral may be re-used by such counterparty or broker for their own purpose, thus exposing the relevant Sub-Fund to additional risk. Total Return Swaps. In respect of Total Return Swaps, if the volatility or expectation of volatility of the reference asset(s) varies, the market value of the financial instruments may be adversely affected. The
Repurchase Agreements. Upon receipt of payment in connection with any repurchase agreement entered into by the Fund related to the securities being held;
Repurchase Agreements. The underlying collateral (of at least 102%) shall consist of US Government obligations and/or government agency securities. Investments in repurchase agreements may not exceed 3 days.
Repurchase Agreements. In connection with transactions in repurchase agreements, a bank as custodian for the Fund takes possession of the underlying securities, the value of which equals or exceeds the principal amount of the repurchase transaction, including accrued interest. To the extent that any repurchase transaction exceeds one business day, the value of the collateral is marked-to-market on a daily basis to determine the adequacy of the collateral. In the event of default on the obligation to repurchase, the Fund has the right to liquidate the collateral and apply the proceeds in satisfaction of the obligation. To the extent that proceeds from the sale of the underlying securities are less than the repurchase price under the agreement, the Fund may incur a loss. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral or proceeds may be subject to legal proceedings.
Repurchase Agreements. The Surviving Partnership hereby covenants and agrees that it will, on or prior to the Effective Date, enter into an agreement with each of the partners of the Merged Partnership other than Cash Conversion Holders and Dissenting Partners whereby the Surviving Partnership agrees that:
(a) Upon the written request of any such partner, the Surviving Partnership will purchase any or all of the Units held by such partner at a purchase price per Unit equal to the Effective Date Price (as defined in Section 3.3(c) above). The written notice must be received by the Surviving Partnership on or before the date which is one hundred eighty (180) days after the Effective Date.
(b) Upon the written request of any such partner which is made (i) after the date which is one hundred eighty (180) days after the Effective Date and (ii) on or before the date which is the later of (A) the last day of any holding period (which holding period shall not, in any event, exceed one year after the Effective Date) during which, in order to comply with the requirements of the SEC, such partners are not permitted to convert Units into shares of common stock of HME and (B) the date on which the SEC declares effective the Registration Statement required to be filed with the SEC pursuant to Section 5.11 hereof, the Surviving Partnership will purchase any or all of the Units held by such partner at a purchase price per Unit equal to the average of the daily market price for the ten (10) consecutive trading days immediately preceding the date of such partner's request of the shares of common stock of HME.
Repurchase Agreements. With respect to all agreements pursuant to which Seller or any Seller Subsidiary has purchased securities subject to an agreement to resell, if any, Seller or such Seller Subsidiary, as the case may be, has a valid, perfected first lien or security interest in or evidence of ownership in book entry form of the government securities or other collateral securing the repurchase agreements, and the value of such collateral equals or exceeds the amount of the debt secured thereby.
