Fundamental Policies. The Borrower will not (a) make or maintain any investment other than as permitted by the ICA and the Fundamental Policies or (b) amend or otherwise modify the Fundamental Policies.
Fundamental Policies. Attached hereto as Exhibit A is a list of the individual investment restrictions of each respective Series of the Trust which shall be "fundamental policies" of that Series. Each Sub-Trust's "fundamental policies" may not be changed without approval by a "majority vote of the outstanding voting securities" of such Series as that term is defined in the Investment Company Act of 1940.
Fundamental Policies. The Borrower will not (a) make or maintain any investment other than as permitted by (i) the Fundamental Policies, in each case (A) for more than 10 Business Days after the date the Borrower has knowledge of the making or maintaining of any such non-permitted Investments or (B) if the making or maintaining at any time of any such non-permitted Investment is with respect to Investments constituting (individually or in the aggregate) 2.5% or more of Total Net Assets, for more than 10 Business Days after the date of the making or maintaining of any such non-permitted Investment and (ii) the ICA or (b) amend or otherwise modify the Fundamental Policies.
Fundamental Policies. (i) Any breach by PMF of any of the Fundamental Policies if such breach would reasonably be expected to have a Material Adverse Effect and such failure shall not be rectified or cured to Lender’s satisfaction within thirty (30) days after notice thereof by Lender to Borrower; provided, however, that if PMF has commenced its actions to cure such breach to Lender’s satisfaction and is diligently prosecuting the cure to completion, Lender shall not declare an Event of Default hereunder unless it determines, in its reasonable discretion, that the failure to cure within such thirty (30) day period shall cause a Material Adverse Effect or (ii) within 90 days after the Closing Date, the board of directors (or similar governing body) of the PMF does not have a sufficient number of directors appointed by Borrower that have the voting power, collectively, to prevent any amendment or modification to the Fundamental Policies;
Fundamental Policies. Investment Objective: The Borrower’s investment objective is to provide stockholders with high current income and such preservation of capital as is consistent with investment in a diversified, leveraged portfolio consisting primarily of floating rate debt securities and instruments.
Fundamental Policies. Investment Objective: The primary investment objective of the Borrower is to seek to provide current income by investing primarily in a diversified portfolio of U.S. companies' debt instruments, including corporate loans, which are rated in the lower rating categories of the established rating services (Baa or lower by Xxxxx'x or BBB or lower by S&P) or unrated debt instruments which are in the judgment of the Investment Adviser of equivalent quality. Such investments generally involve greater volatility of price and risks to principal and income than securities in the higher rating categories. As a secondary objective, the Borrower will seek capital appreciation.
Fundamental Policies. Investment Objective: The primary investment objective of the Borrower is to provide stockholders with current income. The secondary investment objective of the Borrower is to provide stockholders with capital appreciation.
