BORROWING AND LENDING. The Trustee is specifically authorized to lend Trust funds to any borrower, on any terms deemed advisable, and to change the terms of these loans at any time and for any reason. This authorization includes the power to extend loans beyond maturity with or without renewal and without regard to the existence or value of any security, and to facilitate payment, to change the interest rate, to consent to the modification of any guarantee, and to forgive loans in their entirety. The Trustee is further granted all powers necessary to borrow whatever money the Trustee deems desirable for any Trust on any terms from any lender, and to mortgage, pledge or otherwise encumber as security any assets of the borrowing Trust.
BORROWING AND LENDING. (a) Lending will take place in accordance with a first in first out principle, as per clause 4.4(d)(iii).
BORROWING AND LENDING. As a general rule the AIF shall not be permitted to employ leverage for investment purposes. In exceptional cases and whenever necessary in the best interests of the investors, however, the AIF may take out short-term loans up to a maximum of 20% of its most recent net asset value, in particular to cover short-term liquidity shortfalls and to meet pending redemption ap- plications. The limit must be observed when the loan is taken out and may subsequently in- crease during the loan's lifetime as a result of fluctuations in the value of the AIF's assets. If when determining the NAV it becomes evident that the maximum lending limit has been ex- ceeded as a result of fluctuations in the value of the AIF's assets, appropriate measures to reduce it shall be formulated. Responsibility for concluding loan agreements on behalf of the AIF shall rest with the AIFM. The final decision on whether to take out loans rests with the AIFM, with due consideration of the interests of the external Investment Manager, if any, the purpose of the borrowing, the way in which such loans are to be secured and the repayment modalities when they fall due. The assets of the AIF (e.g. holdings of physical gold) must not be pledged except by way of securing the borrowings permitted under Section 3.5.1.1, for transactions involving derivative financial instruments (where allowed) and for investments involving the mandatory contractual pledge of assets in favour of the contracting partner or a third party.
BORROWING AND LENDING. Borrowing from or lending to employees, customers or suppliers.
BORROWING AND LENDING. Except for loans from its parent corporation, the Seller has not, as either lender or borrower, entered into any Contract relating to lines of credit, loans or other extensions of credit or agreements therefor of any kind. A copy of each of such Contract has been furnished to the Buyer.
BORROWING AND LENDING. To borrow or raise money for the purpose of the Trust Fund in such amount, and upon such terms and conditions, as the Trustee shall deem advisable; and, for any sum so borrowed, to issue promissory notes as Trustee, and to secure the repayment thereof by pledging all, or any part of, the Trust Fund, except for segregated accounts; and no person lending money to the Trustee shall be bound to see to the application of the money lent or to inquire into the validity, expediency or propriety of any such borrowing.
BORROWING AND LENDING. The Investment Manager shall not (i) lend to a third party investments or documents of title evidencing title to investments or property of IMRF or the Fund, or (ii) borrow funds on behalf of the Fund or IMRF or commit the Fund or IMRF to borrow funds, unless otherwise permitted by IMRF in writing, and provided such lending is in compliance with applicable laws.
BORROWING AND LENDING. To borrow or to raise money for the purposes of the Fund in such amounts, and upon such terms and conditions, as the Trustees shall deem advisable; and, for any sum so borrowed, to issue promissory notes as Trustees, and to secure the repayment thereof by pledging all, or any part, of the Fund. No person lending money to the Fund shall be bound to see to the application of the money lent or to inquire into the validity, expediency, or propriety of any such borrowing. Sums borrowed may be borrowed from any source not prohibited by law.
BORROWING AND LENDING
