Series B Asset Coverage Cure Date definition

Series B Asset Coverage Cure Date means, with respect to the failure by the Trust to maintain Asset Coverage (as required by paragraph 6(a)(i) of Part II hereof) as of the last Business Day of each March, June, September and December of each year, 49 days following such Business Day.
Sample 1Sample 2Sample 3
Series B Asset Coverage Cure Date means, with respect to the failure by the Trust to maintain Asset Coverage (as required by paragraph 9(a)(i)(A) of Part I of this Statement of Preferences) as of an applicable Quarterly Valuation Date, 10 Business Days following such Quarterly Valuation Date, and shall, for the purposes of this Statement of Preferences, have a correlative meaning with respect to any other class or series of Preferred Shares.
Sample 1Sample 2Sample 3
Series B Asset Coverage Cure Date means, with respect to the failure by the Trust to maintain Asset Coverage (as required by paragraph 6(a)(i) of Part II hereof) as of the last Business Day of each month, the shorter of (i) the Business Day immediately prior to the declaration of a dividend or distribution on Common Shares, or (ii) the Business Day immediately prior to a notice of offer to repurchase Common Shares, including pursuant to Rule 23c-3 under the 1940 Act.
Sample 1Sample 2

Examples of Series B Asset Coverage Cure Date in a sentence

  • The Trust shall deliver to each Rating Agency an "Asset Coverage Certificate" which sets forth the determination of paragraph 9(a)(i)(A) above (1) as of the Date of Original Issue and, thereafter, (2) as of (x) each Quarterly Valuation Date and (y) a Business Day on or before any Series B Asset Coverage Cure Date following a failure to meet Asset Coverage.

  • The Trust shall deliver to each Rating Agency an “Asset Coverage Certificate” which sets forth the determination of paragraph 9(a)(i)(A) above (1) as of the Date of Original Issue and, thereafter, (2) as of (x) each Quarterly Valuation Date and (y) a Business Day on or before any Series B Asset Coverage Cure Date following a failure to meet Asset Coverage.

  • Mandatory Redemptions.If the Trust is required to redeem any Preferred Shares (which may include Series B Preferred Shares) pursuant to paragraph 6(b) of Part II hereof, then the Trust shall, to the extent permitted by the 1940 Act and Delaware law, by the close of business on such Series B Asset Coverage Cure Date, fix a redemption date and proceed to redeem shares as set forth in paragraph 4(d) hereof.

  • If the Fund is required to redeem any Preferred Shares (which may include Series B Preferred Shares) pursuant to paragraphs 6(b) or 6(c) of Part II hereof, then the Fund shall, to the extent permitted by the 1940 Act and Delaware law, by the close of business on such Series B Asset Coverage Cure Date or Basic Maintenance Amount Cure Date (herein collectively referred to as a “Cure Date”), as the case may be, fix a redemption date and proceed to redeem shares as set forth in paragraph 4(c) hereof.

Related to Series B Asset Coverage Cure Date

  • Asset Coverage means asset coverage, as determined in accordance with Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Trust which are stock, including all Outstanding Series B Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities which are stock of a closed-end investment company as a condition of declaring dividends on its common stock), determined on the basis of values calculated as of a time within 48 hours (not including Saturdays, Sundays or holidays) next preceding the time of such determination.

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.