Rule 3a-7 Clause Samples
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Rule 3a-7. Each of the Receivables is an “eligible asset” within the meaning of Rule 3a-7(b)(1) of the Investment Company Act of 1940, as amended.
Rule 3a-7. Notwithstanding anything in this Section 2.07, the Borrower shall not, and the Servicer shall not on the Borrower’s behalf, purchase, sell or substitute any Loan Asset with the primary purpose of recognizing gain or decreasing losses on such Loan Asset or in any manner that would cause the Borrower not to be in compliance with the requirements of Rule 3a-7 under the 1940 Act.