Common use of Maintenance of Effective Leverage Ratio Clause in Contracts

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n), the Purchaser may calculate, for purposes of Section 2.6(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m) and 6.1(n) and the Market Values of securities determined by the third-party pricing service which provided the Market Values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m) and 6.1(n). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n), the Purchaser Purchasers may calculate, for purposes of Section 2.6(b)(ii)(A)(22.5(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m) and 6.1(n) and the Market Values of securities determined by the third-party pricing service which provided the Market Values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m) and 6.1(n). The Effective Leverage Ratio as calculated by the Purchaser Purchasers in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.5(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(m6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the FundIssuer’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the FundIssuer’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may Banc of America shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser Banc of America in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may Purchasers shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser Purchasers in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.4(c) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(mSections 6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund Issuer fails to provide the information required under Sections 6.1(m)and 6.1(n)6.1(o) and 6.1(p) of this Agreement, the Purchaser may calculate, for purposes of Section 2.6(b)(ii)(A)(22.4(d) of the StatementArticles Supplementary, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund Issuer on the most recent date that information was properly provided by the Fund Issuer pursuant to the requirements of Section 6.1(m6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the FundIssuer. If required, the Fund Issuer shall restore the Effective Leverage Ratio as provided in the StatementArticles Supplementary. In connection with calculating the Effective Leverage Ratio, the FundIssuer’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the FundIssuer’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.4(c) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(mSections 6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s 's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s 's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(m) and 6.1(n), the Purchaser may calculate, for purposes of Section 2.6(b)(ii)(A)(2) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m) and 6.1(n) and the Market Values of securities determined by the third-party pricing service which provided the Market Values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m) and 6.1(n). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the FundIssuer’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund Issuer under each Derivative Contract determined in accordance with the FundIssuer’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser Banc of America may calculate, for purposes of Section 2.6(b)(ii)(A)(22.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(mSections 6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser Banc of America in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.3(c) of the StatementNotice, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values of securities determined by the third-party pricing service which that provided the such Market Values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as and if so calculated by the Purchaser in such instances shall be binding on the Fund. If requiredrequired based on such calculations, the Fund shall restore the Effective Leverage Ratio as provided in Section 2.4(b)(ii) of the StatementNotice. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Fund fails to provide the information required under Sections 6.1(m)and 6.1(n6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 2.6(b)(ii)(A)(22.4(c) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(m6.1(o) and 6.1(n6.1(p) and the Market Values market values of securities determined by the third-party pricing service which provided the Market Values market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(m6.1(o) and 6.1(n6.1(p). The Effective Leverage Ratio as calculated by the Purchaser in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.