Borrowing Limits. These limits are (1) l0% for net asset value when borrowing for any general purpose; and (2) 25% of net asset value when borrowing as a temporary measure to facilitate redemptions. Net asset value of a portfolio is the market value of all investments or assets owned less outstanding liabilities of the portfolio at the time that any new or additional borrowing is undertaken. These guidelines are that:
Appears in 2 contracts
Sources: Fund Participation Agreement (USL Separate Account RS), Fund Participation Agreement (USL Separate Account RS)