Common use of Absence of Violation or Default Clause in Contracts

Absence of Violation or Default. The Manager is not (i) in violation of organizational documents or (ii) in default under any agreement, indenture or instrument, except for such defaults that have not and could not result in a Manager Material Adverse Effect.

Absence of Violation or Default. The Each Manager is not (i) in violation of certificate of formation, its operating agreement or other organizational documents or (ii) in default under any agreement, indenture or instrument, except for where such defaults that violation or default would reasonably be expected to have not and could not result in a Manager Material Adverse EffectEffect on either Manager’s ability to function as an investment manager or sub-adviser, as applicable, or perform its obligations under the Investment Management Agreement or Portfolio Management Agreement.

Absence of Violation or Default. The Each Manager is not (i) in violation of certificate of formation, its operating agreement or other organizational documents or (ii) in default under any agreement, indenture or instrument, except for where such defaults that violation or default would reasonably be expected to have not and could not result in a Manager Material Adverse EffectEffect on either Manager's ability to function as an investment manager or sub-adviser, as applicable, or perform its obligations under the Investment Management Agreement or Portfolio Management Agreement.

Absence of Violation or Default. The Manager is not (i) in violation of its organizational documents or (ii) in default under any agreement, indenture or instrument, except for where such defaults that violation or default would reasonably be expected to have not a material adverse effect on the ability of the Manager to perform its obligations under the Investment Advisory and could not result in a Manager Material Adverse EffectBusiness Management Agreement, the Additional Compensation Agreement and the Structuring Fee Agreements.

Absence of Violation or Default. The Manager is not (i) in violation of its organizational documents or (ii) in default under any agreement, indenture or instrument, except for where such defaults that violation or default would reasonably be expected to have not and could not result in a Manager Material Adverse EffectEffect on the ability of the Manager to perform its obligations under the Investment Management Agreement, the ML Structuring Fee Agreement and the Structuring Fee Agreements.

Absence of Violation or Default. The Manager is not (i) in violation of its organizational documents or (ii) in default under any agreement, indenture or instrument, except for where such defaults that violation or default would reasonably be expected to have not and could not result in a material adverse effect on the ability of the Manager Material Adverse Effectto perform its obligations under the Investment Management Agreement.