Borrowing and Indebtedness Clause Samples
Borrowing and Indebtedness. The Board shall not borrow money or incur indebtedness, whether or not the proceeds thereof are intended to be used to purchase Permitted Investments or Investment Property, except as a temporary measure to facilitate the transfer of funds to the Participant that might otherwise require unscheduled dispositions of portfolio investments, but only to the extent permitted by law. No such indebtedness shall have a maturity later than that necessary to avoid the unscheduled disposition of portfolio investments.
Borrowing and Indebtedness. The Trustees
Borrowing and Indebtedness. The Trustees shall not incur indebtedness on behalf of the Trust, or authorize the Trust to borrow money or incur indebtedness, except as expressly provided in Section 5.2(b) of this Trust Agreement.
Borrowing and Indebtedness. The Commission shall not have the power to borrow money or incur indebtedness on behalf of the Fund, or authorize the Fund to borrow money or incur indebtedness, except as provided in clause (iv) of Section 4.2 of this Agreement, but only if and to the extent permitted by Law.
Borrowing and Indebtedness. The Trustees shall not have the power to borrow money on behalf of the Trust.
Borrowing and Indebtedness. The Trustees shall not have the power to borrow money or incur indebtedness on behalf of the Trust, or authorize the Trust to borrow money or incur indebtedness.