Common use of Special Purpose Status Clause in Contracts

Special Purpose Status. The Borrower has not engaged in any activities since its organization (other than those incidental to its incorporation and other appropriate steps and arrangements for the payment of fees to, and director’s and officer’s insurance for, the Directors, the authorization and issuance of the Loans, the execution of the Related Documents to which it is a party and the activities referred to in or contemplated by such agreements), and the Borrower has not paid any dividends or other distributions since its organization.

Special Purpose Status. The Borrower has not engaged in any activities since its organization (other than those incidental to its incorporation and other appropriate steps and arrangements for the payment of fees to, and director’s and officer’s insurance for, the Directors, the authorization and issuance of the LoansLoans and the Class E Securities, the execution of the Related Documents to which it is a party and the activities referred to in or contemplated by such agreements), and the Borrower has not paid any dividends or other distributions since its organization.

Special Purpose Status. The Borrower has not engaged in any activities since its organization (other than those incidental to its incorporation organization, the transactions contemplated by the Loan Documents and other appropriate steps and arrangements for the payment of fees to, and director’s and officer’s insurance for, the Directors, the authorization its directors and issuance of the Loansofficers, the execution of the Related Loan Documents to which it is a party and the activities referred to in or contemplated by such agreementsthe Loan Documents), and the Borrower has not paid any dividends or other distributions since its organization.