Investment Activities. (a) The Advisor will direct the investment of the Portfolio's assets on a discretionary basis in accordance with applicable law and the investment objectives, policies and restrictions set forth in the then-current Prospectus and Statement of Additional Information relating to the Portfolio contained in its Registration Statement under the Investment Company Act of 1940 and the Securities Act of 1933, as amended; in accordance with the investment objectives, policies and restrictions from time to time prescribed by the Board of Trustees of the Trust (the "Board"), and communicated by the Manager to the Advisor and; subject to such further reasonable limitations as the Manager may from time to time impose by written notice to the Advisor. The Advisor hereby acknowledges that it has carefully reviewed the Prospectus, Statement of Additional Information, Declaration of Trust and By-laws, if any, of the Trust and it agrees that it will make investments solely for the purpose of achieving the stated investment objectives of the Portfolio.
Investment Activities. No officer or director of the Corporation, including any officer or director who also serves as a director, officer or employee of any entity that provides investment advisory services or as a member of the investment committee of any such entity, shall be obligated to offer to the Corporation the opportunity to participate in any business or investing activity or venture that is presented to such person other than in his or her capacity as an officer or director of the Corporation. ARTICLE V
Investment Activities. The Partner agrees that, so long as he is a Controlling Partner, he will not pursue or otherwise seek to develop any investment opportunities under active consideration by any of the Carlyle Companies, and, for the period of three years after he has ceased to be a Controlling Partner, he will not pursue or otherwise seek to develop any investment opportunities under active consideration by any of the Carlyle Companies at the time he ceased to be a Controlling Partner.
Investment Activities. The Company acknowledges that certain of the Investors and their affiliates, members, equity holders, director representatives, partners, employees, agents and other related persons are engaged in the business of investing in private and public companies in a wide range of industries, including the industry segment in which the Company operates (the “Company Industry Segment”). Accordingly, the Company and the Investors acknowledge and agree that a Covered Person shall:
Investment Activities. The Company and Executive acknowledge that Executive is an investor in the BEAGLE, UNIMAK, REBECCA IRENE and CAPE HORN that operate in fisheries under the jurisdiction of the North Pacific Fishery Management Council. The parties further acknowledge that under certain circumstances a conflict could arise between the best interests of the Company and the best interests of Executive's investments. The parties agree that Executive may maintain but not increase his investments in the above-named vessels without the prior written approval of the Board of Directors (which approval shall not be unreasonably withheld), and that, in the event of a conflict, Executive shall owe his undivided loyalty to furthering the best interests of the Company.
Investment Activities. 1. Within the framework of its investment activities, the Bank shall finance projects and programmes, provided always that priority shall be given to those envisaged by international and inter-governmental agreements of the member states; provide guarantees, including bank guarantees, and letters of comfort; and hold interest in authorised capital of other organisations.
Investment Activities. The investment portfolio, an important component of Andover's diversified asset structure, is a source of earnings in the form of interest and dividends, provides for diversification and is a source of liquidity. Overall, the portfolio, comprised of mortgage-backed securities, corporate bonds, U.S. Treasury and federal agency securities and short-term investments, represented 21.4% of total assets, or $282.6 million as of December 31, 1997. 12 Overall, in 1997, the total investment portfolio produced interest and dividend income of $19.9 million as compared with $19.3 million in 1996 due to the restructuring referred to below. The investment portfolio and the sale of loans generated net gains on sales, redemptions and the marking of certain securities to market of $422,000 in 1997, as compared to net losses of $265,000 in 1996. Included in the $265,000 loss for 1996 was the loss resulting from the balance sheet restructuring in the third quarter of 1996 whereby the Company restructured its balance sheet by selling $40 million of low yielding securities at a loss of $870,000. The majority of these securities were then replaced with similar securities at higher yields during the fourth quarter of 1996.. For additional information on investments, see Notes 1 and 3 to the "Consolidated Financial Statements" and Item 7, "Management's Discussion and Analysis -- Results of Operations -- Financial Condition -- Investments". DEPOSITS AND OTHER SOURCES OF FUNDS The Banks' major sources of funds are deposits, borrowings, principal payments on loans and mortgage-backed securities, and maturities of investments. Borrowings are generally used to fund long-term assets and short-term liquidity requirements or to manage interest rate risk. Total deposits amounted to $947.0 million at December 31, 1997. The Bank is a member of the Federal Home Loan Bank of Boston ("FHLB") and is authorized to borrow funds to meet withdrawals of savings deposits or to expand the loan or investment portfolios. These borrowings are subject to collateral requirements and borrowing limitations. The Banks also have available various other sources of funds, including secured borrowings, federal funds lines of credit from commercial banks and reverse repurchase agreements from brokerage firms, FHLMC and FNMA. In addition, the Banks have established overnight repurchase agreements with several corporate customers. The Banks may also obtain funds from the Federal Reserve Bank of Boston by pledging ce...