Common use of Exchange Act Compliance; Regulations T, U and X Clause in Contracts

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including the use of Proceeds from the sale of any item in the Collateral) will violate or result in a violation of Section 7 of the Exchange Act or Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own or intend to carry or purchase, and no proceeds from the Advances will be used to carry or purchase, any "margin stock" within the meaning of Regulation U or to extend "purpose credit" within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions Transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale of any item in the CollateralPurchased Items) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of X. Neither the Board of Governors of Seller nor the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own Guarantor owns or intend intends to carry or purchase, and no proceeds from the Advances Transactions will be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale pledge of any item in the Collateral) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own or intend to carry or purchase, and no proceeds from the Advances will be used to carry or purchase, any "margin stock" Margin Stock or to extend “purpose credit” within the meaning of Regulation U or U. No proceeds from the Advances will be used to extend "purpose credit" within purchase Loans from a broker-dealer Affiliate of any Lender identified in writing to the meaning of Regulation U.Borrower.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including the use of Proceeds the proceeds from the sale of any item in the Collateral) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own or intend to carry or purchase, and no proceeds from the Advances will be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions Transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale of any item in the CollateralPurchased Assets) will violate or result in a violation of Section 7 of the Exchange Act 1934 Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of X. Neither Seller nor the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own Guarantor owns or intend intends to carry or purchase, and no proceeds from the Advances Transactions will be used to carry or purchase, any "margin stock" within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including the use of Proceeds from the sale of any item in the CollateralCollateral Portfolio) will violate or result in a violation of Section 7 of the Exchange Act or Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own No Loan Party owns or intend intends to carry or purchase, and no proceeds from the Advances will not be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions Transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale of any item in the CollateralPurchased Securities) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. X. The Borrower Seller does not own or intend to carry or purchase, and no proceeds from the Advances Transactions will be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale Conveyance of any item in the CollateralTransferred Assets) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own or intend to carry or purchase, and no No proceeds from the Advances Conveyance of the Transferred Assets will be used to carry or purchase, any "margin stock" within the meaning of Regulation U Margin Stock or to extend "“purpose credit" ” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale pledge of any item in the Collateral) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own or intend to carry or purchase, and no proceeds from the Advances will be used to carry or purchase, any "margin stock" Margin Stock or to extend “purpose credit” within the meaning of Regulation U or U. No proceeds from the Advances will be used to extend "purpose credit" within purchase Loans from a broker-dealer Affiliate of any Xxxxxx identified in writing to the meaning of Regulation U.Borrower.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale of any item in the CollateralPurchased Items) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of X. Neither the Board of Governors of Seller nor the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own Guarantor owns or intend intends to carry or purchase, and no proceeds from the Advances Transactions will be used to carry or purchase, any "margin stock" within the meaning of Regulation U or to extend "purpose credit" within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including the use of the Proceeds from the sale of any item in the Collateral) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own or intend to carry or purchase, and no proceeds from the Advances will be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.U. The representations and warranties in Section 4.1(m) shall survive the termination of this Agreement and such representations and warranties may not be waived by any party hereto.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including the use of Proceeds the proceeds from the sale Loan and the pledge of any item in the Collateral) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including Regulations T, U and X of the Board of Governors of the Federal Reserve SystemBoard, 12 C.F.R., Chapter II. The Borrower does not own or intend to carry or purchase, and no proceeds from the Advances Loan will be used to carry or purchase, any "margin stock" “Margin Stock” within the meaning of Regulation U or to extend "purpose credit" “Purchase Credit” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale of any item in the CollateralPurchased Items) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of X. Neither the Board of Governors of Seller nor the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not Guarantors own or intend to carry or purchase, and no proceeds from the Advances Transactions will be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.U. The Seller is not subject to any Applicable Law that purports to restrict or regulate its ability to borrow money.

Exchange Act Compliance; Regulations T, U and X. None of the transactions Transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale of any item in the CollateralPurchased Assets) will violate or result in a violation of Section 7 of the Exchange Act 1934 Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X X. None of Seller or the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own Guarantor owns or intend intends to carry or purchase, and no proceeds from the Advances Transactions will be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.

Exchange Act Compliance; Regulations T, U and X. None of the transactions contemplated herein or in the other Transaction Documents (including including, without limitation, the use of Proceeds the proceeds from the sale of any item in the CollateralPurchased Items) will violate or result in a violation of Section 7 of the Exchange Act Act, or any regulations issued pursuant thereto, including, without limitation, Regulations T, U and X of X. Neither the Board of Governors of Seller nor the Federal Reserve System, 12 C.F.R., Chapter II. The Borrower does not own Guarantor owns or intend intends to carry or purchase, and no proceeds from the Advances Transactions will be used to carry or purchase, any "“margin stock" ” within the meaning of Regulation U or to extend "“purpose credit" ” within the meaning of Regulation U.