Where HD Faculty™ seeks to establish a credit facility, the term of the Line of Credit requested shall be for the period of three (3) years to five (5) from establishment, and renewable on an annual basis thereafter, subject to performance.

Notwithstanding, HD Faculty™ or its nominee, until maturity, shall collect, use, invest and reinvest, and deal with collateral, or security, or cause to be used, collected, invested and reinvested and deal with the collateral in the ordinary course of the business, under the guidance of the Portfolio Manager, only in a manner consistent with the provisions of the covenant, and the applicable securities regulations.