Asset Coverage Cure Date definition

Asset Coverage Cure Date means, with respect to the failure by the Fund to maintain Asset Coverage as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is thirty (30) calendar days following such Business Day.

Asset Coverage Cure Date means, with respect to the failure by the Corporation to maintain Asset Coverage as of the close of business on the last Business Day of a Calendar Quarter (as required by Section 2.4(a)), the date that is thirty (30) calendar days following the Filing Date with respect to such Calendar Quarter.

Asset Coverage Cure Date means, with respect to the failure by the Corporation to maintain the Asset Coverage (as required by paragraph 5(a)(i) of Article II hereof) as of the last Business Day of each March, June, September and December of each year, 60 calendar days following such Business Day.

Examples of Asset Coverage Cure Date in a sentence

• In addition, the Corporation will deliver to the persons specified in the preceding sentence an Auditor's Certificate regarding the accuracy of the calculations made by the Corporation on each Preferred Shares Basic Maintenance Certificate and 1940 Act Preferred Shares Asset Coverage Certificate delivered in relation to an Asset Coverage Cure Date within ten days after the relevant Asset Coverage Cure Date.

• If an Accountant's Certificate delivered with respect to an Asset Coverage Cure Date shows an error was made in the Company's report with respect to such Asset Coverage Cure Date, the calculation or determination made by the Company's independent accountants will be conclusive and binding on the Company with respect to such reports.

• Such 1940 Act Preferred Shares Asset Coverage Certificate shall be delivered in the case of clause (i) on the Date of Original Issue and in the case of clause (ii) on or before the seventh Business Day after the relevant Valuation Date or the Asset Coverage Cure Date.

• Such Preferred Shares Basic Maintenance Certificate will be delivered in the case of clause (i)(A) on the Date of Original Issue and in the case of all other clauses above on or before the seventh Business Day after the relevant Valuation Date or Asset Coverage Cure Date.

• In the event that a Preferred Shares Basic Maintenance Certificate, a 1940 Act Preferred Shares Asset Coverage Certificate or an applicable Auditor's Certificate with respect to an Asset Coverage Cure Date is not delivered within the time periods specified herein, the Corporation will be deemed to have failed to meet the Preferred Shares Basic Maintenance Amount Test or the 1940 Preferred Shares Asset Coverage, as the case may be, as of the related Valuation Date.

More Definitions of Asset Coverage Cure Date

Asset Coverage Cure Date means, with respect to the failure by the Trust to maintain Asset Coverage of at least 225% as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is seven (7) Business Days following such Business Day.

Asset Coverage Cure Date has the meaning set forth in Section 3(a)(iii).

Asset Coverage Cure Date means, with respect to the failure by the Fund to maintain Asset Coverage of the Term Preferred Shares of at least 225% as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is thirty (30) calendar days following such Business Day.

Asset Coverage Cure Date means, with respect to the failure by the Corporation to satisfy the MRP Shares Asset Coverage Test on the last day of any month, the date that is thirty (30) calendar days following such date.

Asset Coverage Cure Date means, with respect to the failure by the Corporation to have Asset Coverage at the time specified in Section 2.4(a), the date that is ninety (90) calendar days following the date of such failure.

Asset Coverage Cure Date means the fifth Business Day following any related Asset Coverage Evaluation Date.

Asset Coverage Cure Date means, with respect to the failure by the Fund to maintain Asset Coverage of the Term Preferred Shares of at least 225% as of the close of business on each Business Day (as required by Section 2.4(a)), the date that is ten (10) Business Days following the close of business on such Business Day. "Asset Coverage Redemption Price" shall have the meaning set forth in Section 2.5(b)(ii). "Board of Trustees" means the Board of Trustees of the Fund or any duly authorized committee thereof as permitted by applicable law. "Business Day" means any day (i) other than a day on which commercial banks in The City of New York, New York are required or authorized by law or executive order to close and (ii) on which the New York Stock Exchange is not closed. "By-Laws" means the By-Laws of the Fund as amended from time to time. "Code" means the Internal Revenue Code of 1986, as amended. "Common Shares" means the Shares (as defined in the Declaration) that do not have priority over any other class or series of Shares as to distributions of assets or payments of dividends. "Concentration Limit" means, with respect to the investments of the Fund in all issuers in a consolidated group of corporations or other entities in accordance with GAAP, 5% of the Market Value of the Fund's assets, provided that, with respect to up to five (5) such issuers, 7% of the Market Value of the Fund's assets. "Corrective Action" means, for the purpose of allowing the Fund to comply with the Asset Coverage requirements set forth in Section 2.4(a), (i) an Irrevocable Deposit to fund the redemption of Preferred Shares; (ii) the repayment of indebtedness of the Fund; (iii) corrective trades involving Fund assets; or (iv) any combination of the actions described in clauses (i) through (iii) of this definition. "Custodian" means a bank, as defined in Section 2(a)(5) of the 1940 Act, that has the qualifications prescribed in paragraph 1 of Section 26(a) of the 1940 Act, or such other entity as shall be providing custodian services to the Fund as permitted by the 1940 Act or any rule, regulation, or order thereunder, and shall include, as appropriate, any similarly qualified sub-custodian duly appointed by the Custodian. "Custodian Agreement" means any Custodian Agreement by and between the Custodian and the Fund. "Date of Original Issue" means, with respect to any Series, the date specified as the Date of Original Issue for such Series in the Appendix hereto relating to such Series. "Declaration" shall h...