Common use of Maintenance of Effective Leverage Ratio Clause in Contracts

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p), the Purchaser may calculate, for purposes of Section 11(b)(ii)(A)(y) of the Articles Supplementary, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser so long as the Purchaser or its affiliates hold VMTP Shares in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles Supplementary. In connection with calculating the Effective Leverage Ratio, the Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 11(b)(ii)(A)(y2.5(b)(ii)(A)(y) of the Articles Supplementary, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser so long as the Purchaser or its affiliates hold VMTP Shares in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles Supplementary. In connection with calculating the Effective Leverage Ratio, the Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), the Purchaser may shall have the right to calculate, for purposes of Section 11(b)(ii)(A)(y2.5(b)(ii)(A)(y) of the Articles SupplementaryArticles, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer Fund on the most recent date that information was properly provided by the Issuer Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser Xxxxx Fargo so long as the Purchaser or its affiliates hold Xxxxx Fargo holds 2018 VMTP Shares Shares, in such instances shall be binding on the IssuerFund. If required, the Issuer Fund shall restore the Effective Leverage Ratio as provided in the Articles SupplementaryArticles. In connection with calculating the Effective Leverage Ratio, the Issuer's Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer Fund under each Derivative Contract determined in accordance with the Issuer's Fund’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections Section 6.1(o) and 6.1(p), the Purchaser may calculate, for purposes of Section 11(b)(ii)(A)(y) of the Articles Supplementary, shall calculate the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections Section 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser so long as the Purchaser or its affiliates hold VMTP Shares in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles Supplementary. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio set out in Section 2.4(d) of the Articles Supplementary. In connection with calculating the Effective Leverage Ratio, the Issuer's ’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's ’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p)) of this Agreement, the Purchaser Purchasers may calculate, for purposes of Section 11(b)(ii)(A)(y2.4(d) of the Articles SupplementaryStatement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser BAPFC so long as the Purchaser or its affiliates hold BAPFC holds 2019 VMTP Shares Shares, and otherwise, as calculated by Blue Ridge so long as Blue Ridge holds 2019 VMTP Shares, in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles SupplementaryStatement. In connection with calculating the Effective Leverage Ratio, the Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p)) of this Agreement, the Purchaser may calculate, for purposes of Section 11(b)(ii)(A)(y2.4(d) of the Articles Supplementary, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser so long as the Purchaser or its affiliates hold VMTP Shares in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles Supplementary. In connection with calculating the Effective Leverage Ratio, the Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p), the Purchaser may calculate, for purposes of Section 11(b)(ii)(A)(y) of the Articles Supplementary, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser so long as the Purchaser or its affiliates hold VMTP Shares in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles Supplementary. In connection with calculating the Effective Leverage Ratio, the Issuer's ’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's ’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p), the Purchaser may shall calculate, for purposes of Section 11(b)(ii)(A)(y2.5(b)(ii)(A)(y) of the Articles SupplementaryStatement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser so long as the Purchaser or its affiliates hold VMTP Shares in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles SupplementaryStatement. In connection with calculating the Effective Leverage Ratio, the Issuer's ’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's ’s valuation policies.

Maintenance of Effective Leverage Ratio. For so long as the Issuer fails to provide the information required under Sections 6.1(o) and 6.1(p), the Purchaser may calculate, for purposes of Section 11(b)(ii)(A)(y2.5(b)(ii)(A)(y) of the Articles Supplementary, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Issuer on the most recent date that information was properly provided by the Issuer pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by the Purchaser BAPFC so long as the Purchaser or its affiliates hold BAPFC holds 2019 VMTP Shares Shares, in such instances shall be binding on the Issuer. If required, the Issuer shall restore the Effective Leverage Ratio as provided in the Articles Supplementary. In connection with calculating the Effective Leverage Ratio, the Issuer's total assets and accrued liabilities shall reflect the positive or negative net obligations of the Issuer under each Derivative Contract determined in accordance with the Issuer's valuation policies.