Common use of Investment Advisers Act Clause in Contracts

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the duties set forth in the Management Agreement as described and disclosed in the Registration Statement, the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (“Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Final Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Registration Statement, Management Agreement and the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement and as described in the Registration Statement, the Pricing General Disclosure Package and the Final Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus; and the Manager is not registered and is not required to register as an investment adviser under the Advisers Act.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Investment Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the duties set forth in the Management Agreement as described and disclosed in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus. Any certificate signed by any officer of the Manager and delivered to the Representatives or counsel for the Underwriters in connection with the offering of the Securities shall be deemed a representation and warranty by the Manager, as to matters covered thereby, to each Underwriter.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as contemplated by the Management Agreement and as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Management Agreement, the Registration Statement, the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement and as described in the Registration Statement, the Pricing Disclosure Package Statement and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package Statement and the Prospectus; and the Manager is not registered and is not required to register as an investment adviser under the Advisers Act.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Investment Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and or regulations thereunder, promulgated thereunder from performing its obligations acting under the Management Agreement as described in contemplated by the Registration Statement, the Pricing Disclosure Package and the Prospectus; and the Manager is conducting its investment advisory operations as an investment adviser registered under the Investment Advisers Act of 1940, as amended, in reliance on the registration of Kohlberg Kravis Xxxxxxx & Co. (Fixed Income) LLC.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Management Agreement, the Registration Statement, the Pricing General Disclosure Package and the Prospectus. Any certificate signed by or on behalf of the Manager and delivered to the Sales Agent or to counsel for the Sales Agent shall be deemed to be a representation and warranty by the Manager to the Sales Agent as to the matters covered thereby.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Investment Advisors Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and or regulations thereunder, promulgated thereunder from performing its obligations acting under the Management Agreement as described in contemplated by the Registration Statement, the Pricing Disclosure Package and the Prospectus; and the Manager is conducting its investment advisory operations as an investment adviser registered under the Investment Advisers Act of 1940, as amended, in reliance on the registration of KKR Asset Management LLC.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Management Agreement, the Registration Statement, the Pricing General Disclosure Package and the Final Prospectus. Any certificate signed by or on behalf of the Manager and delivered to the Representatives or to counsel for the Underwriters shall be deemed to be a representation and warranty by the Manager to the Underwriters as to the matters covered thereby.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the duties set forth in the Management Agreement as described and disclosed in the Registration StatementProspectus. Any certificate signed by any officer or other authorized signatory of the Manager and delivered to the Agent or to counsel for the Agent shall be deemed a representation and warranty by the Manager, as to matters covered thereby, to the Pricing Disclosure Package and the ProspectusAgent.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus; and the Manager is not registered and is not required to register as an investment adviser under the Advisers Act.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Investment Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the duties set forth in the Management Agreement as described and disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus. Any certificate signed by any officer of the Manager and delivered to the Representatives or counsel for the Underwriters in connection with the offering of the Securities shall be deemed a representation and warranty by the Manager, as to matters covered thereby, to each Underwriter.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus; the Manager filed a Form ADV (the “Manager Form ADV”) with the Commission on February 23, 2012, which Manager Form ADV was declared effective by the Commission on March 30, 2012.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus; and the Manager filed its most recent Form ADV (the “Manager Form ADV”) with the Commission on March 31, 2014.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package Time of Sale Information and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus; and the Manager filed Form ADV (the “Manager Form ADV”) with the Commission on February 23, 2012. As of the date hereof, the Manager Form ADV has not yet been declared effective by the Commission.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Investment Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the duties set forth in the Management Agreement as described and disclosed in the Registration Statement, the Pricing Disclosure Package Statement and the Prospectus. Any certificate signed by an officer of the Manager and delivered to FBR or to counsel for FBR pursuant to this Agreement shall be deemed to be a representation and warranty by the Manager to FBR as to the matters set forth therein.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, Preliminary Offering Memorandum and the Pricing Disclosure Package and the ProspectusPackage.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the duties set forth in the Management Agreement as described and disclosed in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus. Any certificate signed by any officer of the Manager and delivered to the Representatives or counsel for the Underwriters in connection with the offering of the Securities shall be deemed a representation and warranty by the Manager, as to matters covered thereby, to each Underwriter.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package Statement and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the "Advisers Act"), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus; and the Manager is not registered and is not required to register as an investment adviser under the Advisers Act.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the "Advisers Act"), or the rules and regulations thereunder, from performing its obligations acting under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package and contemplated by the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Investment Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the duties set forth in the Management Agreement as described and disclosed in the Registration Statement, the Pricing Disclosure Package Statement and the Prospectus. Any certificate signed by an officer of the Manager and delivered to MLV or to counsel for MLV pursuant to this Agreement shall be deemed to be a representation and warranty by the Manager to MLV as to the matters set forth therein.

Investment Advisers Act. The duties of the Manager is set forth in the Management Agreement and disclosed in the Registration Statement and the Prospectus are not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Management Agreement, the Registration Statement, the Pricing General Disclosure Package and the Final Prospectus. Any certificate signed by or on behalf of the Manager and delivered to the Representative or to counsel for the Underwriters shall be deemed to be a representation and warranty by the Manager to the Underwriters as to the matters covered thereby.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Management Agreement, the Registration Statement, the Pricing Disclosure Package Statement and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Management Agreement, the Registration Statement, the Pricing General Disclosure Package and the Final Prospectus. Any certificate signed by or on behalf of the Manager and delivered to the Representative or to counsel for the Underwriters shall be deemed to be a representation and warranty by the Company to the Underwriters as to the matters covered thereby.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the "Advisers Act"), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in contemplated by the Registration Statement, the Pricing Disclosure Package Management Agreement and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the ProspectusFinal Prospectus and is otherwise in compliance with the Advisers Act and the rules and regulations promulgated thereunder.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amendedamended (the “Advisers Act”), or the rules and regulations thereunder, from performing its obligations under the Management Agreement as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus.

Investment Advisers Act. The Manager is not prohibited by the Investment Advisers Act of 1940, as amended, or the rules and regulations thereunder, from performing its obligations under the Management Agreement Agreement, dated as of February 23, 2012, by and between the Company and the Manager, as described in the Registration Statement, the Pricing General Disclosure Package and the Prospectus.