|
|
1.
|
A
copy of the current Joint Fidelity Bond of the Funds;
and
|
|
|
2.
|
A
copy of the resolutions of the Board of Trustees of each Fund,
adopted by
a majority of the members of the Board of each Fund who are not
"interested persons", approving the form and the amount of the
bond.
|
|
|
3.
|
A
copy of the Joint insured Bond Agreement among Advent Claymore
Convertible
Securities and Income Fund, Advent/Claymore Enhanced Growth
& Income Fund and Advent/Claymore Global Securities & Income
Fund.
|
|
By
and on behalf of Advent Claymore
Convertible
Securities and Income Fund
|
||
| /s/ Rodd Baxter | ||
|
Name:
Rodd Baxter
|
||
|
Title: Secretary
|
||
|
By
and on behalf of Advent/Claymore
Enhanced
Growth & Income Fund
|
||
| /s/ Rodd Baxter | ||
|
Name:
Rodd Baxter
|
||
|
Title:
Secretary
|
||
|
By
and on behalf of Advent/Claymore
Global
Convertible Securities & Income Fund
|
||
| /s/ Rodd Baxter | ||
|
Name:
Rodd Baxter
|
||
|
Title: Secretary
|
||
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
From
and after the
time this rider becomes effective the Insured under the attached
bond
are:
|
|
2.
|
The
first named
Insured shall act for itself and for each and all of the Insured
for all
the purposes of the attached bond.
|
|
3.
|
Knowledge
possessed
or discovery made by any Insured or by any partner or officer thereof
shall for all the purposes of the attached bond constitute knowledge
or
discovery by all the Insured.
|
|
4.
|
If,
prior to the
termination of the attached bond in its entirety, the attached bond
is
terminated as to any Insured, there shall be no liability for any
loss
sustained by such Insured unless discovered before the time such
termination as to such Insured becomes
effective.
|
|
5.
|
The
liability of the
Underwriter for loss or losses sustained by any or all of the Insured
shall not exceed the amount for which the Underwriter would be liable
had
all such loss or losses been sustained by any one of the Insured.
Payment
by the Underwriter to the first named Insured of loss sustained by
any
Insured shall fully release the Underwriter on account of such
loss.
|
|
6.
|
If
the first named
Insured ceases for any reason to be covered under the attached bond,
then
the Insured next named shall thereafter be considered as the first
named
Insured for all the purposes of the attached
bond.
|
|
By
|
|||
|
Authorized
Representative
|
|
DECLARATIONS
|
BOND
NO.
490PB1533
|
||||||||||
|
Item
1. Name of Insured (herein called
Insured):
|
|||||||||||
|
ADVENT
CLAYMORE
CONVERTIBLE
|
|||||||||||
|
Principal
Address:
|
|||||||||||
|
1065
Avenue of the
Americas
|
|||||||||||
|
New
York, NY 10018
|
|||||||||||
|
Item
2.
|
Bond
Period from
12:01 a.m. on 04/30/07 to 12:01 a.m. on 04/30/2008 the effective
date of
the termination or cancellation of the bond, standard time at the
Principal Address as to each of said dates.
|
||||||||||
|
Item
3.
|
Limit
of
Liability
|
||||||||||
|
Subject
to Sections
9, 10, and 12 hereof:
|
|||||||||||
|
Limit
of
Liability
|
Deductible
Amount
|
||||||||||
|
Insuring
Agreement A
- FIDELITY
|
$3,
000, 000
|
$25,000
|
|||||||||
|
Insuring
Agreement B
- AUDIT EXPENSE
|
$25,000
|
$NIL
|
|||||||||
|
Insuring
Agreement C
- PREMISES
|
$3,000,000
|
$25,000
|
|||||||||
|
Insuring
Agreement D
- TRANSIT
|
$3,000,000
|
$25,000
|
|||||||||
|
Insuring
Agreement E
- FORGERY OR ALTERATION
|
$3,000,000
|
$25,000
|
|||||||||
|
Insuring
Agreement F
- SECURITIES
|
$3,000,000
|
$25,000
|
|||||||||
|
Insuring
Agreement G
- COUNTERFEIT CURRENCY
|
$3,000,000
|
$25,000
|
|||||||||
|
Insuring
Agreement H
- STOP PAYMENT
|
$25,000
|
$5,000
|
|||||||||
|
Insuring
Agreement I
- UNCOLLECTIBLE ITEMS OF DEPOSIT
|
$25,000
|
$10,000
|
|||||||||
|
OPTIONAL
COVERAGES
ADDED BY RIDER:
|
|||||||||||
|
– INSURING
AGREEMENT J – COMPUTER SYSTEMS
|
$3,000,000
|
$25,000
|
|||||||||
|
– INSURING
AGREEMENT K – UNAUTHORIZED SIGNATURES
|
$25,000
|
$5,000
|
|||||||||
|
– INSURING
AGREEMENT L – VOICE–INITIATED TRANSACTIONS
|
$3,000,000
|
$25,000
|
|||||||||
|
– INSURING
AGREEMENT M – TELEFACIMILE TRANSACTIONS
|
$3,000,000
|
$25,000
|
|||||||||
|
If
"Not Covered" is
inserted above opposite any specified Insuring Agreement or Coverage,
such
Insuring Agreement or Coverage and any other reference thereto in
this
bond shall be deemed to be deleted therefrom.
|
|||||||||||
|
Item
4.
|
Offices
or Premises
Covered - Offices acquired or established subsequent to the effective
date
of this bond are covered according to the terms of General Agreement
A.
All the Insured's offices or premises in existence at the time this
bond
becomes effective are covered under this bond except the offices
or
premises located as follows: N/A
|
||||||||||
|
Item
5.
|
The
liability of the
Underwriter is subject to the terms of the following endorsements
or
riders attached hereto:
|
||||||||||
|
ICB001
Rev. 7/04,
ICB010 Ed. 7/04, ICB011 Ed. 7/04,
|
|||||||||||
|
ICB012
Ed. 7/04,
ICB013 Ed. 7/04, ICB014 Ed. 7/04,
|
|||||||||||
|
ICB015
Ed. 7/04,
ICB016 Ed. 7/04, ICB026 Ed. 7/04
|
|||||||||||
|
Item
6.
|
The
Insured by the acceptance of this bond gives notice to the Underwriter
terminating or canceling prior bonds or policy(ies) No.(s) 490PB0745
such
termination or cancellation to be effective as of the time this bond
becomes effective.
|
||||||||||
|
IN
WITNESS WHEREOF, the Company has caused this bond to be signed by
its
President and Secretary and countersigned by a duly authorized
representative of the Company.
|
|||||||||||
|
ST.
PAUL
FIRE AND MARINE INSURANCE COMPANY
|
|||||||||||
|
Countersigned:
|
|||||||||||
|
Authorized
Representative
|
Countersigned
At
|
||||||||||
|
/s/
Illegible
|
/s/
Illegible
|
||||||||||
|
Secretary
|
President
|
||||||||||
|
Countersignature
Date
|
|||||||||||
|
(A)
|
FIDELITY
|
|
|
(a)
|
to
cause the Insured
to sustain such loss; and
|
|
|
(b)
|
to
obtain financial
benefit for the Employee, or for any other Person or organization
intended
by the Employee to receive such benefit, other than salaries, commissions,
fees, bonuses, promotions', awards, profit sharing, pensions or other
employee benefits earned in the normal course of
employment.
|
|
(B)
|
AUDIT
EXPENSE
|
|
(C)
|
ON
PREMISES
|
|
|
(1)
|
loss
of or damage to
furnishings, fixtures, stationery, supplies or equipment, within
any of
the Insured's offices covered under this bond caused by Larceny or
theft
in, or by burglary, robbery or hold-up of, such office, or attempt
thereat, or by vandalism or malicious mischief;
or
|
|
|
(2)
|
loss
through damage
to any such office by Larceny or theft in, or by burglary, robbery
or
hold-up of, such office, or attempt thereat, or to the interior of
any
such office by vandalism or malicious mischief provided, in any event,
that the Insured is the owner of such offices, furnishings, fixtures,
stationery, supplies or equipment or is legally liable for such loss
or
damage always excepting, however, all loss or damage through
fire.
|
|
(D)
|
IN
TRANSIT
|
|
(E)
|
FORGERY
OR
ALTERATION
|
|
|
(1)
|
any
bills of
exchange, checks, drafts, acceptances, certificates of deposit, promissory
notes, or other written promises, orders or directions to pay sums
certain
in money, due bills, money orders, warrants, orders upon public
treasuries, letters of credit; or
|
|
|
(2)
|
other
written
instructions, advices or applications directed to the Insured, authorizing
or acknowledging the transfer, payment, delivery or receipt of funds
or
Property, which instructions, advices or applications purport to
have been
signed or endorsed by any:
|
|
|
(a)
|
customer
of the
Insured, or
|
|
|
(b)
|
shareholder
or
subscriber to shares, whether certificated or uncertificated, of
any
investment Company, or
|
|
|
(c)
|
financial
or banking
institution or stockbroker,
|
|
|
(3)
|
withdrawal
orders or
receipts for the withdrawal of funds or Property, or receipts or
certificates of deposit for Property and bearing the name of the
Insured
as issuer, or of another Investment Company for which the Insured
acts as
agent;
|
|
(F)
|
SECURITIES
|
|
|
(1)
|
through
the
Insured's having, in good faith and in the course of business, whether
for
its own account or for the account of others, in any representative,
fiduciary, agency or any other capacity, either gratuitously or otherwise,
purchased or otherwise acquired, accepted or received, or sold or
delivered, or given any value, extended any credit or assumed any
liability, on the faith of, or otherwise acted upon, any securities,
documents or other written instruments which prove to have
been:
|
|
|
(a)
|
counterfeited,
or
|
|
|
(b)
|
forged
as to the
signature of any maker, drawer, issuer, endorser, assignor, lessee,
transfer agent or registrar, acceptor, surety or guarantor or as
to the
signature of any person signing in any other capacity,
or
|
|
|
(c)
|
raised
or otherwise
altered, or lost, or
|
|
|
(2)
|
through
the
Insured’s having, in good faith and in the course of business, guaranteed
in writing or witnessed any signatures whether for valuable consideration
or not and whether or not such guaranteeing or witnessing is ultra
vires
the Insured, upon any transfers, assignments, bills of sale, powers
of
attorney, guarantees, endorsements or other obligations upon or in
connection with any securities, documents or other written instruments
and
which pass or purport to pass title to such securities, documents
or other
written instruments; excluding losses caused by Forgery or alteration
of,
on or in those instruments covered under Insuring Agreement (E)
hereof.
|
|
(G)
|
COUNTERFEIT
CURRENCY
|
|
(H)
|
STOP
PAYMENT
|
|
(I)
|
UNCOLLECTIBLE
ITEMS
OF DEPOSIT
|
|
A.
|
ADDITIONAL
OFFICES
OR EMPLOYEES - CONSOLIDATION OR MERGER
NOTICE
|
|
|
(1)
|
If
the Insured
shall, while this bond is in force, establish any additional office
or
offices, such offices shall be automatically covered hereunder from
the
dates of their establishment, respectively. No notice to the Underwriter
of an increase during any premium period in the number of offices
or in
the number of Employees at any of the offices covered hereunder need
be
given and no additional premium need be paid for the remainder of
such
premium period.
|
|
|
(2)
|
If
an Investment
Company, named as Insured herein, shall, while this bond is in force,
merge or consolidate with, or purchase the assets of another institution,
coverage for such acquisition shall apply automatically from the
date of
acquisition. The Insured shall notify the Underwriter of such acquisition
within 60 days of said date, and an additional premium shall be computed
only if such acquisition involves additional offices or
employees.
|
|
B.
|
WARRANTY
|
|
C.
|
COURT
COSTS AND
ATTORNEYS' FEES
|
|
|
(1)
|
an
Employee admits
to being guilty of any dishonest or fraudulent act(s), including
Larceny
or Embezzlement; or
|
|
|
(2)
|
an
Employee is
adjudicated to be guilty of any dishonest or fraudulent act(s), including
Larceny or Embezzlement;
|
|
|
(3)
|
in
the absence of
(1) or (2) above an arbitration panel agrees, after a review of an
agreed
statement of facts, that an Employee would be found guilty of dishonesty
if such Employee were prosecuted.
|
|
D.
|
FORMER
EMPLOYEE
|
|
SECTION
1.
|
DEFINITIONS
|
|
(a)
|
"Employee"
means:
|
|
|
(1)
|
any
of the Insured's
officers, partners, or employees,
and
|
|
|
(2)
|
any
of the officers
or employees of any predecessor of the Insured whose principal assets
are
acquired by the Insured by consolidation or merger with, or purchase
of
assets or capital stock of, such predecessor,
and
|
|
|
(3)
|
attorneys
retained
by the Insured to perform legal services for the Insured and the
employees
of such attorneys while such attorneys or employees of such attorneys
are
performing such services for the Insured,
and
|
|
|
(4)
|
guest
students
pursuing their studies or duties in any of the Insured's offices,
and
|
|
|
(5)
|
directors
or
trustees of the Insured, the investment advisor, underwriter
(distributor), transfer agent, or shareholder accounting record keeper,
or
administrator authorized by written agreement to keep financial and/or
other required records, but only while performing acts coming within
the
scope of the usual duties of an officer or employee or while acting
as a
member of any committee duly elected or appointed to examine or audit
or
have custody of or access to the Property of the Insured,
and
|
|
|
(6)
|
any
individual or
individuals assigned to perform the usual duties of an employee within
the
premises of the Insured, by contract, or by any agency furnishing
temporary personnel on a contingent or part-time basis,
and
|
|
|
(7)
|
each
natural person,
partnership or corporation authorized by written agreement with the
Insured to perform services as electronic data processor of checks
or
other accounting records of the Insured, but excluding any such processor
who acts as transfer agent or in any other agency capacity in issuing
checks, drafts or securities for the Insured, unless included under
sub-section (9) hereof, and
|
|
|
(8)
|
those
persons so
designated in Section 15, Central Handling of Securities,
and
|
|
|
(9)
|
any
officer,
partner, or Employee of:
|
|
|
(a)
|
an
investment
advisor,
|
|
|
(b)
|
an
underwriter
(distributor),
|
|
|
(c)
|
a
transfer agent or
shareholder accounting record-keeper,
or
|
|
|
(d)
|
an
administrator
authorized by written agreement to keep financial and/or other required
records,
|
|
(b)
|
"Property"
means
money (i.e. currency, coin, bank notes, Federal Reserve notes), postage
and revenue stamps, U.S. Savings Stamps, bullion, precious metals
of all
kinds and in any form and articles made therefrom, jewelry, watches,
necklaces, bracelets, gems, precious and semi-precious stones, bonds,
securities, evidences of debts, debentures, scrip, certificates,
interim
receipts, warrants, rights, puts, calls, straddles, spreads, transfers,
coupons, drafts, bills of exchange, acceptances, notes, checks, withdrawal
orders, money orders, warehouse receipts, bills of lading, conditional
sales contracts, abstracts of title, insurance policies, deeds, mortgages
under real estate and/or chattels and upon interests therein, and
assignments of such policies, mortgages and instruments, and other
valuable papers, including books of account and other records used
by the
Insured in the conduct of its business, and all other instruments
similar
to or in the nature of the foregoing including Electronic Representations
of such instruments enumerated above (but excluding all data processing
records) in which the Insured has an interest or in which the Insured
acquired or should have acquired an interest by reason of a predecessor's
declared financial condition at the time of the Insured's consolidation
or
merger with, or purchase of the principal assets of, such predecessor
or
which are held by the Insured for any purpose or in any capacity
and
whether so held gratuitously or not and whether or not the Insured
is
liable therefor.
|
|
(c)
|
"Forgery"
means the
signing of the name of another with intent to deceive; it does not
include
the signing of oht. own name with or without authority, in any capacity,
for any purpose.
|
|
(d)
|
"Larceny
and
Embezzlement" as it applies to any named Insured means those acts
as set
forth in Section 37 of the Investment Company Act of
1940.
|
|
(e)
|
"Items
of Deposit"
means any one or more checks and drafts. Items of Deposit shall not
be
deemed uncollectible until the Insured's collection procedures have
failed.
|
|
SECTION
2.
|
EXCLUSIONS
THIS
BOND, DOES NOT COVER:
|
|
(a)
|
loss
effected
directly or indirectly by means of forgery or alteration of, on or
in any
instrument, except when covered by Insuring Agreement (A), (E), (F)
or
(G).
|
|
(b)
|
loss
due to riot or
civil commotion outside the United States of America and Canada;
or loss
due to military, naval or usurped power, war or insurrection unless
such
loss occurs in transit in the circumstances recited in Insuring Agreement
(D), and unless, when such transit was initiated, there was no knowledge
of such riot, civil commotion, military, naval or usurped power,
war or
insurrection on the part of any person acting for the Insured in
initiating such transit.
|
|
(c)
|
loss,
in time of
peace or war, directly or indirectly caused by or resulting from
the
effects of nuclear fission or fusion or radioactivity; provided,
however,
that this paragraph shall not apply to loss resulting from industrial
uses
of nuclear energy.
|
|
(d)
|
loss
resulting from
any wrongful act or acts of any person who is a member of the Board
of
Directors of the Insured or a member of any equivalent body by whatsoever
name known unless such person is also an Employee or an elected official,
partial owner or partner of the Insured in some other capacity, nor,
in
any event, loss resulting from the act or acts of any person while
acting
in the capacity of a member of such Board or equivalent
body.
|
|
(e)
|
loss
resulting from
the complete or partial non-payment of, or default upon, any loan
or
transaction, in the nature of, or amounting to, a loan made by or
obtained
from the Insured or any of its partners, directors or Employees,
whether
authorized or unauthorized and whether procured in good faith or
through
trick, artifice fraud or false pretenses unless such loss is covered
under
Insuring Agreement (A), (E) or (F).
|
|
(f)
|
loss
resulting from
any violation by the Insured or by any
Employee:
|
|
|
(1)
|
of
law regulating
(a) the issuance, purchase or sale of securities, (b) securities
transactions upon Security Exchanges or over the counter market,
(c)
Investment Companies, or (d) Investment Advisors,
or
|
|
|
(2)
|
of
any rule or
regulation made pursuant to any such
law.
|
|
(g)
|
loss
of Property or
loss of privileges through the misplacement or loss of Property as
set
forth in Insuring Agreement (C) or (D) while the Property is in the
custody of any armored motor vehicle company, unless such loss shall
be in
excess of the amount recovered or received by the Insured under (a)
the
Insured's contract with said armored motor vehicle company, (b) insurance
carried by said armored motor vehicle company for the benefit of
users of
its service, and (c) all other insurance and indemnity in force in
whatsoever form carried by or for the benefit of users of said armored
motor vehicle company's service, and then this bond shall cover only
such
excess.
|
|
(h)
|
potential
income,
including but not limited to interest and dividends, not realized
by the
Insured because of a loss covered under this bond, except as included
under Insuring Agreement (I).
|
|
(i)
|
all
damages of any
type for which the Insured is legally liable, except direct compensatory
damages arising from a loss covered under this
bond.
|
|
(j)
|
loss
through the
surrender of Property away from an office of the Insured as a result
of a
threat:
|
|
|
(1)
|
to
do bodily harm to
any person, except loss of Property in transit in the custody of
any
person acting as messenger provided that when such transit was initiated
there was no knowledge by the Insured of any such threat,
or
|
|
|
(2)
|
to
do damage to the
premises or Property of the Insured, except when covered under Insuring
Agreement (A).
|
|
(k)
|
all
costs, fees and
other expenses incurred by the Insured in establishing the existence
of or
amount of loss covered under this bond unless such indemnity is provided
for under Insuring Agreement (B).
|
|
(1)
|
loss
resulting from
payments made or withdrawals from the account of a customer of the
Insured, shareholder or subscriber to shares involving funds erroneously
credited to such account, unless such payments are made to or withdrawn
by
such depositors or representative of such person, who is within the
premises of the drawee bank of the Insured or within the office of
the
Insured at the time of such payment or withdrawal or unless such
payment
is covered under Insuring Agreement
(A).
|
|
(m)
|
any
loss resulting
from Uncollectible Items of Deposit which are drawn from a financial
institution outside the fifty states of the United States of America,
District of Columbia, and territories and possessions of the United
States
of America, and Canada.
|
|
SECTION
3.
|
ASSIGNMENT
OF
RIGHTS
|
|
SECTION
4.
|
LOSS
- NOTICE -
PROOF - LEGAL PROCEEDINGS
|
|
|
(a)
|
becomes
aware of
facts, or
|
|
|
(b)
|
receives
written
notice of an actual or potential claim by a third party which alleges
that
the Insured is liable under
circumstances,
|
|
SECTION
5.
|
VALUATION
OF
PROPERTY
|
|
SECTION
6.
|
VALUATION
OF
PREMISES AND FURNISHINGS
|
|
SECTION
7.
|
LOST
SECURITIES
|
|
SECTION
8.
|
SALVAGE
|
|
SECTION
9.
|
NON-REDUCTION
AND
NON-ACCUMULATION OF LIABILITY AND TOTAL
LIABILITY
|
|
|
(a)
|
any
one act of
burglary, robbery or holdup, or attempt thereat, in which no Partner
or
Employee is concerned or implicated shall be deemed to be one loss,
or
|
|
|
(b)
|
any
one
unintentional or negligent act on the part of any other person resulting
in damage to or destruction or misplacement of Property, shall be
deemed
to be one loss, or
|
|
|
(c)
|
all
wrongful acts,
other than those specified in (a) above, of any one person shall
be deemed
to be one loss, or
|
|
|
(d)
|
all
wrongful acts,
other than those specified in (a) above, of one or more persons (which
dishonest act(s) or act(s) of Larceny or Embezzlement include, but
are not
limited to, the failure of an Employee to report such acts of others)
whose dishonest act or acts intentionally or unintentionally, knowingly
or
unknowingly, directly or indirectly, aid or aids in any way, or permits
the continuation of, the dishonest act or acts of any other person
or
persons shall be deemed to be one loss with the act or acts of the
persons
aided, or
|
|
|
(e)
|
any
one casualty or
event other than those specified in (a), (b), (c) or (d) preceding,
shall
be deemed to be one loss, and
|
|
SECTION
10.
|
LIMIT
OF
LIABILITY
|
|
SECTION
11.
|
OTHER
INSURANCE
|
|
SECTION
12.
|
DEDUCTIBLE
|
|
SECTION
13.
|
TERMINATION
|
|
|
This
Bond shall
terminate:
|
|
|
(a)
|
as
to any Employee
as soon as any partner, officer or supervisory Employee of the Insured,
who is not in collusion with such Employee, shall learn of any dishonest
or fraudulent act(s), including Larceny or Embezzlement on the part
of
such Employee without prejudice to the loss of any Property then
in
transit in the custody of such Employee (see Section 16(d)),
or
|
|
|
(b)
|
as
to any Employee
60 days after receipt by each Insured and by the Securities and Exchange
Commission of a written notice from the Underwriter of its desire
to
terminate this bond as to such Employee,
or
|
|
|
(c)
|
as
to any person,
who is a partner, officer or employee of any Electronic Data Processor
covered under this bond, from and after the time that the Insured
or any
partner or officer thereof not in collusion with such person shall
have
knowledge or information that such person has committed any dishonest
or
fraudulent act(s), including Larceny or Embezzlement in the service
of the
Insured or otherwise, whether such act be committed before or after
the
time this bond is effective.
|
|
SECTION
14.
|
RIGHTS
AFTER
TERMINATION OR CANCELLATION
|
|
|
(a)
|
on
the effective
date of any other insurance obtained by the Insured, its successor
in
business or any other party, replacing in whole or in part the insurance
afforded by this bond, whether or not such other insurance provides
coverage for loss sustained prior to its effective date,
or
|
|
|
(b)
|
upon
take over of
the Insured's business by any State or Federal official or agency,
or by
any receiver or liquidator, acting or appointed for this purpose
without
the necessity of the Underwriter giving notice of such termination.
In the
event that such additional period of time is terminated, as provided
above, the Underwriter shall refund any unearned
premium.
|
|
SECTION
15.
|
CENTRAL
HANDLING OF
SECURITIES
|
|
SECTION
16.
|
ADDITIONAL
COMPANIES
INCLUDED AS INSURED
|
|
|
(a)
|
the
total liability
of the Underwriter hereunder for loss or losses sustained by any
one or
more or all of them shall not exceed the limit for which the Underwriter
would be liable hereunder if all such loss were sustained by any
one of
them;
|
|
|
(b)
|
the
one first named
herein shall be deemed authorized to make, adjust and receive and
enforce
payment of all claims hereunder and shall be deemed to be the agent
of the
others for such purposes and for the giving or receiving of any notice
required or permitted to be given by the terms hereof, provided that
the
Underwriter shall furnish each named Investment Company with a copy
of the
bond and with any amendment thereto, together with a copy of each
formal
filing of the settlement of each such claim prior to the execution
of such
settlement;
|
|
|
(c)
|
the
Underwriter
shall not be responsible for the proper application of any payment
made
hereunder to said first named
Insured;
|
|
|
(d)
|
knowledge
possessed
or discovery made by any partner, officer of supervisory Employee
of any
Insured shall for the purposes of Section 4 and Section 13 of this
bond
constitute knowledge or discovery by all the Insured;
and
|
|
|
(e)
|
if
the first named
Insured ceases for any reason to be covered under this bond, then
the
Insured next named shall thereafter be considered as the first, named
Insured for the purposes of this
bond.
|
|
SECTION
17.
|
NOTICE
AND CHANGE OF
CONTROL
|
|
|
(a)
|
the
names of the
transferors and transferees (or the names of the beneficial owners
if the
voting securities are requested in another name),
and
|
|
|
(b)
|
the
total number of
voting securities owned by the transferors and the transferees (or
the
beneficial owners), both immediately before and after the transfer,
and
|
|
|
(c)
|
the
total number of
outstanding voting securities.
|
|
SECTION
18.
|
CHANGE
OR
MODIFICATION
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
From
and after the
time this rider becomes effective the Insured under the attached
bond
are:
|
|
|
—
Advent
Claymore Enhanced Growth & Income
Fund
|
|
2.
|
The
first named
Insured shall act for itself and for each and all of the Insured
for all
the purposes of the attached bond.
|
|
3.
|
Knowledge
possessed
or discovery made by any Insured or by any partner or officer thereof
shall for all the purposes of the attached bond constitute knowledge
or
discovery by all the Insured.
|
|
4.
|
If,
prior to the
termination of the attached bond in its entirety, the attached bond
is
terminated as to any Insured, there shall be no liability for any
loss
sustained by such Insured unless discovered before the time such
termination as to such Insured becomes
effective.
|
|
5.
|
The
liability of the
Underwriter for loss or losses sustained by any or all of the Insured
shall not exceed the amount for which the Underwriter would be liable
had
all such loss or losses been sustained by any one of the Insured.
Payment
by the Underwriter to the first named Insured of loss sustained by
any
Insured shall fully release the Underwriter on account of such
loss.
|
|
6.
|
If
the first named
Insured ceases for any reason to be covered under the attached bond,
then
the Insured next named shall thereafter be considered as the first
named
Insured for all the purposes of the attached
bond.
|
|
By
|
|||
|
Authorized
Representative
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
The
attached bond is
amended by adding an additional Insuring Agreement as
follows:
|
|
|
Loss
resulting
directly from a fraudulent
|
|
|
(1)
|
entry
of data into,
or
|
|
|
(2)
|
change
of data
elements or program within a Computer System listed in the SCHEDULE
below,
provided the fraudulent entry or change
causes
|
|
|
(a)
|
Property
to be
transferred, paid or delivered,
|
|
|
(b)
|
an
account of the
Insured, or of its customer, to be added, deleted, debited or credited,
or
|
|
|
(c)
|
an
unauthorized
account or a fictitious account to be debited or credited, and provided
further, the fraudulent entry or change is made or caused by an individual
acting with the manifest intent to
|
|
|
(i)
|
cause
the Insured to
sustain a loss, and
|
|
|
(ii)
|
obtain
financial
benefit for that individual or for other persons intended by that
individual to receive financial
benefit.
|
|
2.
|
As
used in this
Rider, Computer System means
|
|
|
(a)
|
computers
with
related peripheral components, including storage components, wherever
located,
|
|
|
(b)
|
systems
and
applications software,
|
|
|
(c)
|
terminal
devices,
and
|
|
|
(d)
|
related
communication networks
|
|
3.
|
In
addition to the
exclusions in the attached bond, the following exclusions are applicable
to this Insuring Agreement:
|
|
|
(a)
|
loss
resulting
directly or indirectly from the theft of confidential information,
material or data; and
|
|
|
(b)
|
loss
resulting
directly or indirectly from entries or changes made by an individual
authorized to have access to a Computer System who acts in good faith
on
instructions, unless such instructions are given to that individual
by a
software contractor (or by a partner, officer or employee thereof)
authorized by the Insured to design, develop, prepare, supply, service,
write or implement programs for the insured's Computer
System.
|
|
4.
|
The
following
portions of the attached bond are not applicable to this
Rider:
|
|
|
(a)
|
the
portion
preceding the Insuring Agreements which reads "at any time but discovered
during the Bond Period";
|
|
|
(b)
|
Section
9
NONREDUCTION AND NON-ACCUMULATION OF LIABILITY of the Conditions
and
Limitations; and
|
|
|
(c)
|
Section
10 LIMIT OF
LIABILITY of the Conditions and
Limitations.
|
|
5.
|
The
coverage
afforded by this Rider applies only to loss discovered by the Insured
during the period this Rider is in
force.
|
|
6.
|
All
loss or series
of losses involving the fraudulent activity of one individual, or
involving fraudulent activity, in which one individual is implicated,
whether or not that individual is specifically identified, shall
be
treated as one loss. A series of losses involving unidentified individuals
but arising from the same method of operation may be deemed by the
Underwriter to involve the same individual and in that event shall
be
treated as one loss.
|
|
7.
|
The
Limit of
Liability for the coverage provided by this Rider shall be Three
Million
Dollars ($3,000, 000 ), it being understood, however, that such liability
shall be a part of and not in addition to the Limit of Liability
stated in
Item 3 of the Declarations of the attached bond or any amendment
thereof.
|
|
8.
|
The
Underwriter
shall be liable hereunder for the amount by which one loss exceeds
the
Deductible Amount applicable to the attached bond, but not in excess
of
the Limit of Liability stated
above.
|
|
9.
|
If
any loss is
covered under this Insuring Agreement and any other Insuring Agreement
or
Coverage, the maximum amount payable for such loss shall not exceed
the
largest amount available under any one Insuring Agreement or
Coverage.
|
|
10.
|
Coverage
under this
Rider shall terminate upon termination or cancellation of the bond
to
which this Rider is attached. Coverage under this Rider may also
be
terminated or canceled without canceling the bond as an
entirety
|
|
|
(a)
|
60
days after
receipt by the Insured of written notice from the Underwriter of
its
desire to terminate or cancel coverage under this Rider,
or
|
|
|
(b)
|
immediately
upon
receipt by the Underwriter of a written request from the Insured
to
terminate or cancel coverage under this
Rider.
|
|
By
|
|||
|
Authorized
Representative
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
The
attached bond is
amended by inserting an additional Insuring Agreement as
follows:
|
|
|
(A)
|
Loss
resulting
directly from the Insured having accepted, paid or cashed any check
or
withdrawal order, draft, made or drawn on a customer's account which
bears
the signature or endorsement of one other than a person whose name
and
signature is on the application on file with the Insured as a signatory
on
such account.
|
|
|
(B)
|
It
shall be a
condition precedent to the Insured's right of recovery under this
Rider
that the Insured shall have on file signatures of all persons who
are
authorized signatories on such
account.
|
|
2.
|
The
total liability
of the Underwriter under Insuring Agreement K is limited to the sum
of
Twenty Five Thousand Dollars ($25,000 ), it being understood, however,
that such liability shall be part of and not in addition to the Limit
of
Liability stated in Item 3 of the Declarations of the attached bond
or
amendment thereof.
|
|
3.
|
With
respect to
coverage afforded under this Rider, the Deductible Amount shall be
Five
Thousand Dollars ($5,000).
|
|
By
|
|||
|
Authorized
Representative
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
The
attached Bond is
amended by adding an additional Insuring Agreement as
follows:
|
|
2.
|
Definitions
The following terms used in this Insuring Agreement shall have the
following meanings:
|
|
|
a.
|
"Telefacsimile
System" means a system of transmitting and reproducing fixed graphic
material (as, for example, printing) by means of signals transmitted
over
telephone lines.
|
|
|
b.
|
"Telefacsimile
Transaction" means any Fax Redemption, Fax Election, Fax Exchange,
or Fax
Purchase.
|
|
|
c.
|
"Fax
Redemption"
means any redemption of shares issued by an Investment Company which
is
requested through a Telefacsimile
System.
|
|
|
d.
|
"Fax
Election" means
any election concerning dividend options available to Fund shareholders
which is requested through a Telefacsimile
System.
|
|
|
e.
|
"Fax
Exchange" means
any exchange of shares in a registered account of one Fund into shares
in
an identically registered account of another Fund in the same complex
pursuant to exchange privileges of the two Funds, which exchange
is
requested through a Telefacsimile
System.
|
|
|
f.
|
"Fax
Purchase" means
any purchase of shares issued by an Investment Company which is requested
through a Telefacsimile System.
|
|
|
g.
|
"Designated
Fax
Procedures" means the following
procedures:
|
|
|
(I)
|
Retention: All
Telefacsimile Transaction requests shall be retained for at least
six (6)
months. Requests shall be capable of being retrieved and
produced in legible form within a reasonable time after retrieval
is
requested.
|
|
|
(2)
|
Identity
Test: The identity of the sender in any request for a Telefacsimile
Transaction shall be tested before executing that Telefacsimile
Transaction, either by requiring the sender to include on the face
of the
request a unique identification number or to include key specific
account
information. Requests of Dealers must be on company letterhead and
be
signed by an authorized representative. Transactions by occasional
users
are to be verified by telephone
confirmation.
|
|
|
(3)
|
Contents:
A
Telefacsimile Transaction shall not be executed unless the request
for
such Telefacsimile Transaction is dated and purports to have been
signed
by (a) any shareholder or subscriber to shares issued by a Fund,
or (b)
any financial or banking institution or
stockbroker.
|
|
|
(4)
|
Written
Confirmation: A written confirmation of each Telefacsimile Transaction
shall be sent to the shareholder(s) to whose account such Telefacsimile
Transaction relates, at the record address, by the end of the Insured's
next regular processing cycle, but no later than five (5) business
days
following such Telefacsimile
Transaction.
|
|
|
i.
|
"Designated"
means
or refers to a written designation signed by a shareholder of record
of a
Fund, either in such shareholder's initial application for the purchase
of
Fund shares, with or without a Signature Guarantee, or in another
document
with a Signature Guarantee.
|
|
|
j.
|
"Signature
Guarantee" means a written guarantee of a signature, which guarantee
is
made by an Eligible Guarantor Institution as defined in Rule 17Ad-15(a)(2)
under the Securities Exchange Act of
1934.
|
|
3.
|
Exclusions.
It is further understood and agreed that this Insuring Agreement
shall not
cover:
|
|
|
a.
|
Any
loss covered
under Insuring Agreement A, "Fidelity," of this Bond;
and
|
|
|
b.
|
Any
loss resulting
from:
|
|
|
(1)
|
Any
Fax Redemption,
where the proceeds of such redemption were requested to be paid or
made
payable to other than (a) the shareholder of record, or (b) a person
Designated in the initial application or in writing at least one
(1) day
prior to such redemption to receive redemption proceeds, or (c) a
bank
account Designated in the initial application or in writing at least
one
(1) day prior to such redemption to receive redemption proceeds;
or
|
|
|
(2)
|
Any
Fax Redemption
of Fund shares which had been improperly credited to a shareholder's
account, where such shareholder (a) did not cause, directly or indirectly,
such shares to be credited to such account, and (b) directly or indirectly
received any proceeds or other benefit from such redemption;
or
|
|
|
(3)
|
Any
Fax Redemption
from any account, where the proceeds of such redemption were requested
to
be sent to any address other than the record address or another address
for such account which was designated (a) over the telephone or by
telefacsimile at least fifteen (15) days prior to such redemption,
or (b)
in the initial application or in writing at least one (1) day prior
to
such redemption; or
|
|
|
(4)
|
The
intentional
failure to adhere to one or more Designated Fax Procedures;
or
|
|
|
(5)
|
The
failure to pay
for shares attempted to be
purchased.
|
|
4.
|
The
Single Loss
Limit of Liability under Insuring Agreement M is limited to the sum
of
Three Million Dollars ($3,000,000 ) it being understood,
however, that such liability shall be part of and not in addition
to the
Limit of Liability stated in Item 3 of the Declarations of the attached
Bond or amendments thereof.
|
|
5.
|
With
respect to
coverage afforded under this Rider the applicable Single loss Deductible
Amount is Twenty Five Thousand Dollars
($25,000).
|
|
By
|
|||
|
Authorized
Representative
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
The
attached bond is
amended by inserting an additional Insuring Agreement as
follows:
|
|
2.
|
Definitions.
The following terms used in this Insuring Agreement shall have the
following meanings:
|
|
|
a.
|
"Voice-initiated
Transaction" means any Voice-initiated Redemption, Voice-initiated
Election, Voice-initiated Exchange, or Voice-initiated
Purchase.
|
|
|
b.
|
"Voice-initiated
Redemption" means any redemption of shares issued by an Investment
Company
which is requested by voice over the
telephone.
|
|
|
c.
|
"Voice-initiated
Election" means any election concerning dividend options available
to Fund
shareholders which is requested by voice over the
telephone.
|
|
|
d.
|
"Voice-initiated
Exchange" means any exchange of shares in a registered account of
one Fund
into shares in an identically registered account of another Fund
in the
same complex pursuant to exchange privileges of the two Funds, which
exchange is requested by voice over the
telephone.
|
|
|
e.
|
"Voice-initiated
Purchase" means any purchase of shares issued by an Investment Company
which is requested by voice over the
telephone.
|
|
|
f.
|
"Designated
Procedures" means the following
procedures:
|
|
|
(1)
|
Recordings:
All Voice-initiated Transaction requests shall be recorded, and the
recordings shall be retained for at least six (6) months. Information
contained on the recordings shall be capable of being retrieved and
produced within a reasonable time after retrieval of specific information
is requested, at a success rate of no less than
85%.
|
|
|
(2)
|
Identity
Test. The identity of the caller in any request for a
Voice-initiated Redemption shall be tested before executing that
Voice-initiated Redemption, either by requesting the caller to state
a
unique identification number or to furnish key specific account
information.
|
|
|
(3)
|
Written
Confirmation. A written confirmation of each Voice-initiated
Transaction and of each change of the record address of a Fund shareholder
requested by voice over the telephone shall be mailed to the
shareholder(s) to whose account such Voice-initiated Transaction
or change
of address relates, at the original record address (and, in the case
of
such change of address, at the changed record address) by the end
of the
Insured's next regular processing cycle, but no later than five (5)
business days following such Voice-initiated Transaction or change
of
address.
|
|
|
g.
|
"Investment
Company"
or "Fund" means an investment company registered under the Investment
Company Act of 1940.
|
|
|
h.
|
"Officially
Designated" means or refers to a written designation signed by a
shareholder of record of a Fund, either in such shareholder's initial
application for the purchase of Fund shares, with or without a Signature
Guarantee, or in another document with a Signature
Guarantee.
|
|
|
i.
|
"Signature
Guarantee" means a written guarantee of a signature, which guarantee
is
made by a financial or banking institution whose deposits are insured
by
the Federal Deposit Insurance Corporation or by a broker which is
a member
of any national securities exchange registered under the Securities
Exchange Act of 1934.
|
|
3.
|
Exclusions.
It is further understood and agreed that this Insuring Agreement
shall not
cover:
|
|
|
a.
|
Any
loss covered
under Insuring Agreement A, "Fidelity, " of this Bond;
and
|
|
|
b.
|
Any
loss resulting
from:
|
|
|
(1)
|
Any
Voice-initiated
Redemption, where the proceeds of such redemption were requested
to be
paid or made payable to other than (a) the shareholder of record,
or (b) a
person Officially Designated to receive redemption proceeds, or (c)
a bank
account Officially Designated to receive redemption proceeds;
or
|
|
|
(2)
|
Any
Voice-initiated
Redemption of Fund shares which had been improperly credited to a
shareholder's account, where such shareholder (a) did not cause,
directly
or indirectly, such shares to be credited to such account, and (b)
directly or indirectly received any proceeds or other benefit from
such
redemption; or
|
|
|
(3)
|
Any
Voice-initiated
Redemption from any account, where the proceeds of such redemption
were
requested to be sent (a) to any address other than the record address
for
such account, or (b) to a record address for such account which was
either
(i) designated over the telephone fewer than thirty (30) days prior
to
such redemption, or (ii) designated in writing less than on (1) day
prior
to such redemption; or
|
|
|
(4)
|
The
intentional
failure to adhere to one or more Designated Procedures;
or
|
|
|
(5)
|
The
failure to pay
for shares attempted to be purchased;
or
|
|
|
(6)
|
Any
Voice-initiated
Transaction requested by voice over the telephone and received by
an
automated system which receives and converts such request to executable
instructions.
|
|
4.
|
The
total liability
of the Underwriter under Insuring Agreement L is limited to the sum
of
Three Million Dollars ($3,000,000), it being understood,
however, that such liability shall be part of and not in addition
to the
Limit of Liability stated in Item 3 of the Declarations of the attached
bond or amendment thereof.
|
|
5.
|
With
respect to
coverage afforded under this Rider the applicable Deductible Amount
is
Twenty Five Thousand Dollars
($25 ,
000).
|
|
By
|
|||
|
Authorized
Representative
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
Sub-section
7 of
Section 1(a) in the Definition of Employee, is deleted and replaced
by the
following:
|
|
|
(7)
|
"each
natural
person, partnership or corporation authorized by written agreement
with
the Insured to perform services as electronic data processor of
checks or other accounting records of the Insured (does not include
the
creating, preparing, modifying or maintaining the Insured's computer
software or programs), but excluding any such processor who acts
as
transfer agent or in any other agency capacity in issuing checks,
drafts
or securities for the Insured, unless included under sub-section
(9)
hereof, and"
|
|
By
|
|||
|
Authorized
Representative
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
Section
1,
Definitions, under General Agreements is amended to include the following
paragraph:
|
|
|
(f)
|
Investment
Company
means an investment company registered under the Investment Company
Act of
1940 and as listed under the names of Insureds on the
Declarations.
|
|
By
|
|||
|
Authorized
Representative
|
|
ENDORSEMENT
OR RIDER
NO.
|
||||
|
THIS
ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY
|
||||
|
The
following
spaces preceded by an (*) need not be completed if this endorsement
or
rider and the Bond or Policy have the same inception
date.
|
||||
|
ATTACHED
TO AND
FORMING
|
DATE
ENDORSEMENT
OR
|
* EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
|
||
|
PART
OF BOND OR
POLICY NO.
|
RIDER
EXECUTED
|
12:01
A.M. STANDARD
TIME AS
|
||
|
SPECIFIED
IN THE
BOND OR POLICY
|
||||
|
490PB1533
|
05/02/07
|
04/30/07
|
||
|
*
ISSUED
TO
|
||||
|
ADVENT
CLAYMORE CONVERTIBLE
|
||||
|
1.
|
Section
2,
Exclusions, under General Agreements, is amended to include the following
sub-sections:
|
|
|
(n)
|
loss
from the use of
credit, debit, charge, access, convenience, identification, cash
management or other cards, whether such cards were issued or purport
to
have been issued by the Insured or by anyone else, unless such loss
is
otherwise covered under Insuring Agreement
A.
|
|
|
(o)
|
the
underwriter
shall not be liable under the attached bond for loss due to liability
imposed upon the Insured as a result of the unlawful disclosure of
non-public material information by the Insured or any Employee, or
as a
result of any Employee acting upon such information, whether authorized
or
unauthorized.
|
|
By
|
|||
|
Authorized
Representative
|