The Portfolio. The investment objectives and any restrictions on the types of investments and markets in which transactions may be affected are prescribed in applicable laws (see Paragraph 2 of the Agreement) and are set-out in the Funds' Prospectuses and the Statements of Additional Information or as notified to and accepted by the Sub-Advisor in accordance with the terms of the Agreement.
The Portfolio. The investment objectives and any restrictions on the types of investments and markets in which transactions may be affected are prescribed in applicable laws (see Clause 2 of the Agreement) and are set-out in each prospectus for Class Y, Class K, Class A, B, C shares (the "Prospectus") and the Statement of Additional Information or as notified to and accepted by the Sub-Advisor in accordance with the terms of the Agreement.
The Portfolio. The decision by any prospective holder of Notes to invest in such Notes should be based, among other things (including, without limitation, the identity of the Collateral Manager), on the Eligibility Criteria (and Reinvestment Criteria, when applicable) which each Collateral Obligation is required to satisfy, as disclosed in this Offering Circular, and on the Portfolio Profile Tests, Collateral Quality Tests, Coverage Tests and Target Par Amount that the Portfolio is required to satisfy as at the Effective Date (other than in respect of (i) the Class F Par Value Test, which is required to be satisfied on any Determination Date following the expiry of the Reinvestment Period and (ii) the Interest Coverage Tests, which are required to be satisfied on and after the Determination Date immediately preceding the second Payment Date) and in each case (save as described herein) thereafter. This Offering Circular does not contain any information regarding the individual Collateral Obligations on which the Notes will be secured from time to time. Purchasers of any of the Notes will not have an opportunity to evaluate for themselves the relevant economic, financial and other information regarding the investments to be made by the Issuer and, accordingly, will be dependent upon the judgement and ability of the Collateral Manager in acquiring investments for purchase on behalf of the Issuer over time. No assurance can be given that the Issuer will be successful in obtaining suitable investments or that, if such investments are made, the objectives of the Issuer will be achieved. Neither the Issuer nor the Placement Agent has made any investigation into the Obligors of the Collateral Obligations. The value of the Portfolio may fluctuate from time to time (as a result of substitution or otherwise) and none of the Issuer, the Trustee, the Placement Agent, the Custodian, the Collateral Manager, the Collateral Administrator, any Hedge Counterparty, or any of their Affiliates are under any obligation to maintain the value of the Collateral Obligations at any particular level. None of the Issuer, the Trustee, the Custodian, the Collateral Manager, the Collateral Administrator, any Hedge Counterparty, the Placement Agent or any of their Affiliates has any liability to the Noteholders as to the amount or value of, or any decrease in the value of, the Collateral Obligations from time to time. Furthermore, pursuant to the Collateral Management and Administration Agreement, the Co...
The Portfolio. The Portfolio assumes and shall pay or cause to be paid all other expenses of the Portfolio (except for the expenses paid by FAM Distributors, Inc. (the "Distributor")), including, without limitation: organizational costs, redemption expenses, expenses of portfolio transactions, expenses of registering shares under federal and state securities laws, pricing costs (including the daily calculation of net asset value), expenses of printing stockholder reports, stock certificates (if any), prospectuses and statements of additional information, Securities and Exchange Commission fees, interest, taxes, custodian and transfer agency fees, fees and actual out-of-pocket expenses of Directors who are not affiliated persons of the Investment Adviser, fees for legal and auditing services, litigation expenses, costs of printing proxies and other expenses related to stockholder meetings, and other expenses properly payable by the Portfolio. It is also understood that the Portfolio shall reimburse the Investment Adviser for its costs, if any, in providing accounting services to the Portfolio. The Distributor will pay certain of the expenses of the Portfolio incurred in connection with the continuous offering of Portfolio shares.