DURATION LIMITS Clause Samples
DURATION LIMITS. (a) 70-day maximum weighted average maturity for the entire Collateral Account (using the reset period for floating rate assets) (b) 270-day maximum maturity for commercial paper (c) 397-day maximum maturity for (i) fixed rate investments and (ii) floating rate investments that reset quarterly or more frequently (d) 20% minimum invested in overnight maturities
DURATION LIMITS. 3.1. The duration of the portfolio shall be consistent with the cash needs of Granite.
3.2. All working capital investments are limited to an average maturity of one year from date of settlement.
3.3. Any investment with maturities longer than one year must be invested in instruments issued, guaranteed, or insured by the U.S. Government or any of its Agencies, Municipal Bonds, and/or Corporate Bonds as specified in the Investment Matrix for Working Capital and Escrow Portfolios guidance document.
3.4. The average maturity of the escrow portfolio and escrow deposit agreements shall not exceed five years.