Common use of Regulation T Clause in Contracts

Regulation T. None of the Purchase Price for any Purchased Securities will be used either directly or indirectly to acquire any security, as that term is defined in Regulation T of the Regulations of the Board of Governors of the Federal Reserve System, and the Seller has not taken any action that might cause any Transaction to violate any regulation of the Federal Reserve Board.

Regulation T. None of the Purchase Price for any Purchased Securities ------------ will be used either directly or indirectly to acquire any security, as that term is defined in Regulation T of the Regulations of the Board of Governors of the Federal Reserve System, and the Seller has not taken any action that might cause any Transaction to violate any regulation of the Federal Reserve Board.

Regulation T. None of the Purchase Price for any Purchased ------------- Securities will be used either directly or indirectly to acquire any security, as that term is defined in Regulation T of the Regulations of the Board of Governors of the Federal Reserve System, and the Seller has not taken any action that might cause any Transaction to violate any regulation of the Federal Reserve Board.;