Maximum Equity Component definition

Maximum Equity Component has the meaning given in Section 3.3(a).
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Maximum Equity Component on any Exchange Business Day, as a percentage of the Total Assets of the Fund, means the Equity Limit for all Classes of Shares, expressed as a percentage, determined in accordance with the formula set forth below: Equity Limit for all Classes of Shares =(Lowest NAV Per Share – Highest Floor)/Lowest NAV Per Share)*Multiple (or zero in the event that the Equity Limit for all Classes of Shares is less than 0.025); provided that the Equity Limit for all Classes of Shares shall not exceed 130% at any time; where, Highest Floor = the product of (i) the Adjusted Discount Factor and (ii) the highest Protected Amount Per Share of any of the four Classes of Shares; Lowest NAV = the lowest NAV Per Share of any of the four Classes of Shares. Per Share where, Adjusted Discount Factor = with respect to each Class of Shares, means the following quotient as determined by the Calculation Agent in a commercially reasonable manner and communicated to the Adviser prior to 9:00 a.m. (Eastern time) on each Exchange Business Day (and if not so communicated, the Adjusted Discount Factor last communicated to the Adviser by the Calculation Agent): (i) the present value discount factor representing the theoretical price, expressed as a percentage of par, of a theoretical zero coupon bond maturing on the Maturity Date, the yield of which is consistent with the Benchmark Yield Curve as of the date of determination; over (ii) an amount, based on the Fee Factor and the time (in years) remaining to the Maturity Date, determined by the Calculation Agent as follows: Fee Factor =0.0200 Multiple = __ t = the time, in years, remaining until the Maturity Date.
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Maximum Equity Component has the meaning given in SECTION 3.3(A).
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Examples of Maximum Equity Component in a sentence

  • All determinations or calculations of any Maximum Equity Component, Adjusted Discount Factor, Shortfall Amount, Aggregate Shortfall Amount, Floor Shortfall and Additional Floor Shortfall and any other determination or calculations the Calculation Agent is permitted or required to make under this Agreement shall for purposes of this Agreement be final, binding and unchallengeable absent manifest error.

  • Such notification shall be provided by the Warranty Provider or the Calculation Agent and shall specify the adjusted Multiple and the Maximum Equity Component recalculated using such adjusted Multiple as determined by the Calculation Agent in its sole discretion and based on the other information contained in the latest Daily Report received by the Warranty Provider and/or the Calculation Agent from the Adviser pursuant to Section 3.4(a).

  • All ----------------------------------------------------------- determinations or calculations of any Maximum Equity Component, Adjusted Discount Factor, Shortfall Amount, Aggregate Shortfall Amount, Floor Shortfall and Additional Floor Shortfall and any other determination or calculations the Calculation Agent is permitted or required to make under this Agreement shall for purposes of this Agreement be final, binding and unchallengeable absent manifest error.


More Definitions of Maximum Equity Component

Maximum Equity Component on any Exchange Business Day, as a percentage of the Total Assets of the Fund, means the Equity Limit for all Classes of Shares, expressed as a percentage, determined in accordance with the formula set forth below: Equity Limit for all Classes of Shares =(Lowest NAV Per Share – Highest Floor)/Lowest NAV Per Share)*Multiple (or zero in the event that the Equity Limit for all Classes of Shares is less than 0.025); provided that the Equity Limit for all Classes of Shares shall not exceed 130% at any time; where, Highest Floor = the product of (i) the Adjusted Discount Factor and (ii) the highest Protected Amount Per Share of any of the four Classes of Shares; Lowest NAV = the lowest NAV Per Share of any of the four Classes of Shares. Per Share where, Adjusted
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