“Global Tranche LC Exposure” means, at any time, the sum of # the aggregate undrawn Dollar Amount of all outstanding Global Tranche Letters of Credit at such time plus # the aggregate Dollar Amount of all LC Disbursements in respect of Global Tranche Letters of Credit that have not yet been reimbursed by or on behalf of ​ at such time. The Global Tranche LC Exposure of any Global Tranche Lender at any time shall be its Global Tranche Percentage of the total Global Tranche LC Exposure at such time.

Pax Global Environmental Markets Fund Pax Global Opportunities Fund

Title: Director Global RE Title: VP Global Planning and Logistics

SECTION #0a. Commitments. (a) Global Tranche Commitments. Subject to the terms and conditions set forth herein, each Global Tranche Lender agrees to make Global Tranche Revolving Loans denominated in US Dollars, Euro, Canadian Dollars or other Alternative Currencies to the Global Tranche Borrowers from time to time during the Availability Period in principal amounts at any time outstanding that will not result in # the Aggregate Global Tranche Revolving Credit Exposure exceeding the aggregate Global Tranche Commitments, # the Global Tranche Revolving Credit Exposure of any Lender exceeding its Global Tranche Commitment or # the portion of the Aggregate Revolving Credit Exposure attributable to Loans made to and Letters of Credit issued for the accounts of Borrowing Subsidiaries that are Foreign Subsidiaries exceeding US$400,000,000. Within the foregoing limits and subject to the terms and conditions set forth herein, the Global Tranche Borrowers may borrow, prepay and reborrow Global Tranche Revolving Loans.

at a sub-line of business (e.g., Global Corporate and Investment Banking, FICC Trading) or division (e.g., Global Rates, Global Credit and Special Situations) within Global Banking and Markets, if you are a manager within the applicable sub-line of business or division; or

“Aggregate Global Tranche Revolving Credit Exposure” means the sum of the Global Tranche Revolving Credit Exposures of all the Global Tranche Lenders; provided, that for purposes of this definition, in determining the Global Tranche Revolving Credit Exposure of the Lender that is the Swingline Lender, the Swingline Exposure of such Lender shall be deemed to equal its Global Tranche Percentage of all outstanding Swingline Loans.

“Global Tranche Revolving Loans” means Loans made by the Global Tranche Lenders pursuant to [Section 2.01(a)].

“GRI Standard” means the Global Reporting Initiative Sustainability Reporting Standards (2016) published by the Global Reporting Initiative.

S&P: S&P Global Ratings, a division of S&P Global Inc., and any successor thereto.

“S&P” means S&P Global Ratings, a subsidiary of the S&P Global, Inc., and any successor