Common use of Business Development Company Clause in Contracts

Business Development Company. Prior to the initial Effective Date, the Company will file Form N-54A – Notification of Election to be Subject to Sections 55 through 65 of the Investment Company Act of 1940 filed Pursuant to Section 54(a) of the Act (the Notification of Election”) with the Commission, pursuant to which the Company will elect to be treated as a BDC. Except as otherwise provided for in this Agreement, the Company will not withdraw such Notification of Election or take any action to cause the Commission to order such Notification of Election to be withdrawn. Such Notification of Election, when filed with the Commission (i) will contain all statements required to be stated therein in accordance with, and will comply in all material respects with the requirements of, the Investment Company Act and (ii) will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein not misleading. The Company will use its best efforts to maintain its status as a BDC; provided, however, the Company may change the nature of its business so as to cease to be, or to withdraw its election as a BDC, in compliance with the requirements of Section 58 of the Investment Company Act.

Business Development Company. Prior to the initial Effective Date, the The Company will file filed a Form N-54A – Notification of Election to be Subject to Sections 55 through 65 of the Investment Company Act of 1940 filed Pursuant to Section 54(a) of the Act (the “Notification of Election”) with the Commission, pursuant to which the Company will elect elected to be treated as a BDC. Except as otherwise provided for in this Agreement, the Company will not withdraw such Notification of Election or take any action to cause the Commission to order such Notification of Election to be withdrawn. Such Notification of Election, when filed with the Commission (i) will contain contained all statements required to be stated therein in accordance with, and will comply complied in all material respects with the requirements of, the Investment Company Act and (ii) will did not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein not misleading. The Company will use its best efforts to maintain its status as a BDC; provided, however, the Company may change the nature of its business so as to cease to be, or to withdraw its election as a BDC, in compliance with the requirements of Section 58 of the Investment Company Act.