Common use of Investment Company Act; Investments Clause in Contracts

Investment Company Act; Investments. The Company has been advised concerning the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the rules and regulations thereunder and has in the past conducted, and intends in the future to conduct, its affairs in such a manner as to ensure that it will not become an “investment company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act and such rules and regulations. The Company is not, nor will the Company become upon the sale of the Units and the application of the proceeds therefrom as described in the Registration Statement, the sale Preliminary Prospectus and the Prospectus under the caption “Use of Proceeds”, an “investment company” or a person controlled by an “investment company” within the meaning of the Investment Company Act. No more than 45% of the “value” (as defined in Section 2(a)(41) of the Investment Company Act) of the Company’s total assets (exclusive of cash items and “Government Securities” (as defined in Section 2(a)(16) of the Investment Company Act) consist of, and no more than 45% of the Company’s net income after taxes is derived from, securities other than the Government Securities.

Investment Company Act; Investments. The Company has been advised concerning the Investment Company Act of 1940, as amended (the “"Investment Company Act”"), and the rules and regulations thereunder and has in the past conducted, and intends in the future to conduct, its affairs in such a manner as to ensure that it will not become an “"investment company” " or a company “"controlled” " by an “"investment company” " within the meaning of the Investment Company Act and such rules and regulations. The Company is not, nor will the Company become upon the sale of the Units and the application of the proceeds therefrom therefore as described in the Registration Statement, the sale Preliminary Prospectus and the Prospectus under the caption “"Use of Proceeds”", an “"investment company” " or a person controlled by an “"investment company” " within the meaning of the Investment Company Act. No more than 45% of the “"value” " (as defined in Section 2(a)(41) of the Investment Company Act) of the Company’s 's total assets (exclusive of cash items and “"Government Securities” " (as defined in Section 2(a)(16) of the Investment Company Act) consist of, and no more than 45% of the Company’s 's net income after taxes is derived from, securities other than the Government Securities.