Common use of Election to be Treated as a Business Development Company Clause in Contracts

Election to be Treated as a Business Development Company. The Company has duly elected to be regulated by the Commission as a business development company under the Investment Company Act, such election is effective and has not withdrawn that election, and the Commission has not ordered that such election be withdrawn nor to the best of the Company’s knowledge have proceedings to effectuate such withdrawal been initiated or threatened by the Commission; the operations of the Company are in compliance with the provisions of the Investment Company Act applicable to business development companies and the rules and regulations of the Commission thereunder applicable to business development companies, except where such non-compliance would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect;

Election to be Treated as a Business Development Company. The Company has duly elected to be regulated by the Commission as a business development company under the Investment Company Act, such election is effective and the Company has not withdrawn that election, and the Commission has not ordered that such election be withdrawn nor to the best of the Company’s knowledge have proceedings to effectuate such withdrawal been initiated or threatened by the Commission; the operations of the Company are in compliance with the provisions of the Investment Company Act applicable to business development companies and the rules and regulations of the Commission thereunder applicable to business development companies, except where such non-compliance would not, individually or in the aggregate, not reasonably be expected to result in a Material Adverse Effect;