Common use of Equity Investments Clause in Contracts

Equity Investments. At the direction of the Chief Executive Officer of the Company, Authorized Individuals are permitted to purchase up to $25 million in aggregate of the capital stock, or equivalent, in a non-affiliated company. Amounts in excess of $25 million in aggregate require approval by the Board of Directors. Without further approval of the Board of Directors, the Chief Executive Officer may direct authorized individuals to sell or otherwise dispose of investments in non-affiliated companies.

Equity Investments. At the direction of the Chief Executive Officer of the CompanyBorrower, Authorized Individuals are permitted to purchase up to $25 million in aggregate of the capital stock, or equivalent, in a non-affiliated companyBorrower. Amounts in excess of $25 million in aggregate require approval by the Board of Directors. Without further approval of the Board of Directors, the Chief Executive Officer may direct authorized individuals to sell or otherwise dispose of investments in non-affiliated companies.