Common use of Classification of the Company as Corporation for Tax Purposes Clause in Contracts

Classification of the Company as Corporation for Tax Purposes. (a) The Company has made or will make an initial entity election to be classified as an association that is taxable as a corporation for U.S. federal income tax purposes effective on or prior to the Initial Drawdown Date and shall maintain such classification. (b) The Company will use reasonable best efforts to qualify as a BDC and a RIC no later than (i) the first calendar year in which the Company anticipates it will have significant amounts of net income and (ii) prior to the making of any distributions to the Members. (c) Once the Company has elected RIC status, the Board will use reasonable best efforts to maintain the Company’s status as a RIC.

Classification of the Company as Corporation for Tax Purposes. (ai) The Company has made or will make intends to file an initial entity election with the Internal Revenue Service to cause it to be classified as an association that is taxable as a corporation for U.S. federal income tax purposes effective on or prior to the Initial Drawdown Date and shall maintain such classificationdate on which the Company has more than one Member. (bii) The Company will use reasonable best efforts to qualify as a BDC and a RIC no later than (i) the first calendar year in which the Company anticipates it will have significant amounts of net income and (ii) prior to the making of any distributions to the Membersincome. (ciii) Once the Company has elected RIC status, the Board will use reasonable best efforts to maintain the Company’s status as a RIC.