Collateral Requirements. The Collateral Requirements in relation to all positions held in the accounts established pursuant to the 40 Act Financing Agreements (the “Positions”) shall be the greater of: (a) the sum of (i) aggregate product of (x) the Collateral Percentage applicable to such Positions and (y) the Current Market Value of such respective Positions, (b) the sum of the collateral requirements of such Positions as per Regulation T of the Board of Governors of the Federal Reserve System, as amended from time to time; (c) the sum of the collateral requirements of such Positions as per New York Stock Exchange Rule 431, as amended from time to time; or (d) the Portfolio Margin Floor.
Appears in 2 contracts
Sources: Committed Facility Agreement (Muzinich BDC, Inc.), Committed Facility Agreement (Muzinich BDC, Inc.)
Collateral Requirements. The Collateral Requirements in relation to all positions held in the accounts established pursuant to the 40 Act Financing Agreements (the “"Positions”") shall be the greater of:
(a) the sum of (i) aggregate product of (x) the Collateral Percentage applicable to such Positions and (y) the Current Market Value of such respective Positions,;
(b) the sum of the collateral requirements of such Positions as per Regulation T of the Board of Governors of the Federal Reserve System, as amended from time to time;
(c) the sum of the collateral requirements of such Positions as per New York Stock Exchange Rule 431, as amended from time to time; or
(d) 50% of the Portfolio Margin FloorGross Market Value.
Appears in 1 contract
Collateral Requirements. The Collateral Requirements in relation to all positions held in the accounts established pursuant to the 40 Act Financing Agreements (the “Positions”"POSITIONS") shall be the greater greatest of:
(a) the sum of (i) aggregate product of (x) the Collateral Percentage applicable to such Positions and (y) the Current Market Value of such respective Positions,;
(b) the sum of the collateral requirements of such Positions as per Regulation T of the Board of Governors of the Federal Reserve System, as amended from time to time;
(c) the sum of the collateral requirements of such Positions as per New York Stock Exchange Rule 431, as amended from time to time; or
(d) 40% of the Portfolio Margin FloorGross Market Value.
Appears in 1 contract
Sources: Committed Facility Agreement (First Trust Strategic High Income Fund Ii)
Collateral Requirements. The Collateral Requirements in relation to all positions held in the accounts established pursuant to the 40 Act Financing Agreements (the “Positions”) shall be the greater greatest of:
(a) the sum of (i) aggregate product of (x) the Collateral Percentage applicable to such Positions and (y) the Current Market Value of such respective Positions,;
(b) the sum of the collateral requirements of such Positions as per Regulation T of the Board of Governors of the Federal Reserve System, as amended from time to time;
(c) the sum of the collateral requirements of such Positions as per New York Stock Exchange Rule 431, as amended from time to time; or
(d) 50% of the Portfolio Margin FloorGross Market Value.
Appears in 1 contract
Sources: Committed Facility Agreement (Reaves Utility Income Fund)
Collateral Requirements. The Collateral Requirements in relation to all positions held in the accounts established pursuant to the 40 Act Financing Agreements (the “Positions”) shall be the greater of:
(a) the sum of (i) aggregate product of (x) the Collateral Percentage applicable to such Positions and (y) the Current Market Value of such respective Positions,;
(b) the sum of the collateral requirements of such Positions as per Regulation T of the Board of Governors of the Federal Reserve System, as amended from time to time;
(c) the sum of the collateral requirements of such Positions as per New York Stock Exchange Rule 431, as amended from time to time; or
(d) 50% of the Portfolio Margin FloorGross Market Value.
Appears in 1 contract
Sources: Committed Facility Agreement (Fiduciary/Claymore MLP Opportunity Fund)