Common use of Maximum Net Loss Clause in Contracts

Maximum Net Loss. No Borrower shall, as of the last day of any twelve calendar month period, permit its Net Asset Value (after giving effect to adjustments for any redemptions or subscriptions made during such period) to decrease by more than 15% of such Borrower’s Net Asset Value as of the day immediately preceding the first day of such twelve calendar month period.

Maximum Net Loss. No Borrower shall, as of the last day of any twelve each calendar month periodmonth, permit its Net Asset Value (after giving effect to adjustments for any redemptions or subscriptions made during the twelve month period ending on such periodcalendar month) to decrease by more than 15% of from the such Borrower’s Net Asset Value as of the day immediately preceding the first last day of such twelve the corresponding month from the preceding calendar month periodyear.

Maximum Net Loss. No The Borrower shallshall not, as of the last day of any twelve each calendar month periodmonth, permit its Net Asset Value (after giving effect to adjustments for any redemptions or subscriptions made during the twelve month period ending on such periodcalendar month) to decrease by more than 15% of such from the Borrower’s Net Asset Value as of the day immediately preceding the first last day of such twelve the corresponding month from the preceding calendar month periodyear.