Eligible ETFs definition

Eligible ETFs any reasonably diversified exchange-traded funds that the Borrower requests be considered an “Eligible ETF” for purposes hereof, subject to the consent of the Administrative Agent to such exchange-traded fund being considered an “Eligible ETF” (such consent not to be unreasonably withheld or delayed). For the avoidance of doubt, neither leveraged exchange-traded funds nor synthetic exchange-traded funds (other than Qualified Synthetic ETFs) shall constitute “Eligible ETFs”.
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Eligible ETFs means any Financial Instrument (other than a Non-Eligible ETF) which is a share in an exchange traded fund which:
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Eligible ETFs has the meaning given to it in paragraph 18.6(a) of Part I of Schedule 6 (Borrowing Base).
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Examples of Eligible ETFs in a sentence

  • Second, aligning Eligible Short Term-Asset maturities with principal cash flows from Eligible Bonds and Eligible ETFs in the SMCCF Investment Sub-Account in order to cover periodic prepayments of Secondary Market Facility Loans.

  • The Manager shall not purchase any Eligible Bonds or Eligible ETFs if, after giving effect to such purchase: The SMCCF Equity Usage exceeds the Total UST Equity Allocated to the Facility.

  • The Manager may select as an intermediary any brokerage firm that (i) is not an Affiliate of the Manager and (ii) for any purchase of Eligible Bonds and Eligible ETFs, that is also an Eligible Seller (as defined in the Investment Guidelines).

  • The Manager will cease purchasing Eligible Bonds and Eligible ETFs no later than September 30, 2020, unless otherwise instructed by the Company following an extension of the Facility in accordance with the Term Sheet.

  • In the event that the Manager receives notice seeking any consent, vote or other action in connection with Eligible Bonds or Eligible ETFs in the portfolio, it shall act in accordance with Section 2.5, consult with the Company regarding the matter and provide a recommendation to the Company with respect thereto; provided, that the Manager shall act in accordance with any direction from the Company.

  • The Manager will purchase Eligible Bonds and Eligible ETFs in accordance with the pricing guidelines set forth in the Term Sheet.

  • The Manager shall obtain approval from the Company prior to including any ETF on the list of Eligible ETFs with more than 1% of par value of their holdings, based on the most recent disclosure of holdings, allocated to bonds of issuers that to the Manager’s actual knowledge based on publicly available information are in bankruptcy or in payment default.

  • For the avoidance of doubt, there is no overlapping constraint in aggregate issuer exposure across Eligible ETFs and Eligible Bonds.

  • Periodically, but no less frequently than monthly, the Manager shall provide a list of Eligible ETFs to the Company, which will be based on these Investment Guidelines and any other criteria that the Company may apply, including, but not limited to, the size of the ETF and the composition of its holdings.

  • The Company may direct the Manager to remove any ETF from the list of Eligible ETFs if such ETF appears on the ETF Default Report defined in Exhibit A-2.