Common use of Asset Coverage Requirements Clause in Contracts

Asset Coverage Requirements. At the Closing Time, the Fund will furnish to the Underwriter a report showing compliance with the asset coverage requirements of the 1940 Act and the asset coverage requirements of the Securities (as calculated in accordance with the Statement and as described in the Prospectus) as of the Closing Time in form and substance satisfactory to the Underwriter. Such report shall be prepared on a pro forma basis assuming the receipt of the net proceeds from the sale of the Securities and the application of such net proceeds as set forth under “Use of Proceeds” in the prospectus supplement, dated November 21, 2016, included in the Prospectus.