Compliance with Investment Company Act. The business and other activities of the Borrower and its Subsidiaries, including the making of the Loans hereunder, the application of the proceeds and repayment thereof by the Borrower and the consummation of the Transactions contemplated by the Loan Documents do not result in a violation or breach in any material respect of the provisions of the Investment Company Act or any rules, regulations or orders issued by the Securities and Exchange Commission thereunder, in each case that are applicable to the Borrower and its Subsidiaries.
Compliance with Investment Company Act. The business and other activities of the Borrower and its Subsidiaries do not result in a violation or breach of the provisions of the Investment Company Act or any rules, regulations or orders issued by the SEC thereunder, except where such breaches or violations, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.
Compliance with Investment Company Act. The Trust is not required to be registered as an "investment company" under the Investment Company Act.
Compliance with Investment Company Act. The Manager shall use commercially reasonable efforts to ensure that the Company is not treated as an “investment company” within the meaning of the Investment Company Act of 1940. Without limiting the generality of the preceding sentence, the Manager shall use commercially reasonable efforts to ensure that the Company satisfies the safe harbor set forth in 17 CFR §270.3a-1. P a g e | 9
Compliance with Investment Company Act. The Board of Directors shall use commercially reasonable efforts to ensure that the Company is not treated as an “investment company” within the meaning of the Investment Company Act of 1940. Among other things (i) the Board of Directors shall use commercially reasonable efforts to ensure that at least ninety five percent (95%) of the assets of the Company will consist of mortgages and other liens on and interests in real estate; (ii) for each loan originated by the Company, the Board of Directors must have a reasonable belief, supported by appraisals or other evidence of value, that the entire amount of the loan is secured by a lien on real estate; and (iii) in the event the Company purchases (as opposed to originates) any loans (A) the Board of Directors shall form a reasonable believe that one hundred percent (100%) of the acquisition cost of the loan is secured by real estate at the time of purchase, for at least ninety five percent (95%) of such purchased loans; (B) no fewer than ninety five percent (95%) of the mortgage loans purchased by the Company, by value, will include a written indication in the historic file that the loan was one hundred percent (100%) secured by real estate at the time of origination; and (C) the Company will not purchase any mortgage loan where there is written indication in the historic file that the loan was not one hundred percent (100%) secured by real estate at the time of origination.
Compliance with Investment Company Act. Except as may be provided in a Future Supplemental Indenture, for the benefit of the Holders of the Notes but no other series of Securities under the Indenture, whether now or hereafter issued and Outstanding, Article Ten of the Base Indenture shall be amended by adding the following new Section 10.08 thereto, each as set forth below:
Compliance with Investment Company Act. The actions of the Bank as securities lending agent on behalf of the Lender, shall at all times comply with the applicable provisions of the Investment Company Act of 1940, as amended (the “1940 Act”). Securities Lending Agrmt 4 July 2012
Compliance with Investment Company Act. The Company and the Partnership are familiar with the Investment Company Act of 1940, as amended, as the rules and regulations thereunder, and have in the past conducted their affairs, and will in the future conduct their affairs, in such a manner so as to ensure that the Company and the Partnership will not be an "investment company" or an entity "controlled" by an "investment company" within the meaning of the Investment Company Act of 1940, as amended.
Compliance with Investment Company Act. MBIA represents and warrants as of the date hereof that it is not an open-end investment company, closed-end investment company, unit investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and covenants that it will not take any action if such action would cause MBIA to be in violation of the Investment Company Act at any time prior to payment in full of the Notes.
Compliance with Investment Company Act. For so long as theThe Borrower is regulated as a BDCshall not become an “investment company” as defined in, or subject to regulation under, the Investment Company Act, the Borrower shall comply with (i) Section 18 of the Investment Company Act, as made applicable to BDCs pursuant to Section 61 of the Investment Company Act and (ii) all other requirements of the Investment Company Act applicable to BDCs, unless with respect to clause (ii), the failure to comply therewith would not reasonably be expected to result in a Material Adverse Event. The Borrower will give the Agent twenty (20) LEGAL_US_E # 171549701.1171549701.5