Common use of Disinterested Managers Clause in Contracts

Disinterested Managers. Subject to the requirements of the Investment Company Act, at any time that the Company shall have in effect an election to be treated as a business development company under the Investment Company Act, then at least a majority of the members of the Board of Managers shall be Disinterested Managers. If at any time the number of Disinterested Managers is less than a majority, action shall be taken pursuant to Section 4.1 or Section 4.4 to restore the number of Disinterested Managers to at least a majority.

Disinterested Managers. Subject to the requirements of the Investment Company Act, at any time that the Company shall have in effect an election to be treated as a business development company under the Investment Company Act, then at least a majority of the members of the Board of Managers shall be Disinterested Managers. If at any time the number of Disinterested Managers is less than a majority, action shall be taken pursuant to Section 4.1 or Section 4.4 to restore the number of Disinterested Managers to at least a majority.

Disinterested Managers. Subject to the requirements of the Investment Company Act, at any time that the Company shall have in effect an election to be treated as a business development company under the Investment Company Act, then at least a majority of the members of the Board of Managers shall be Disinterested Managers. If at any time the number of Disinterested Managers Manag ers is less than a majority, action shall be taken pursuant to Section 4.1 or Section 4.4 to restore the number of Disinterested Managers to at least a majority.