Investment Company; PFIC. For a period of five years after the Closing Date or, if later, the Option Closing Date, the Partnership will use its best reasonable efforts to ensure that (i) no Partnership Entity, nor any subsidiary thereof, shall become an "investment company" as defined in the 1940 Act, and (2) the Partnership shall not become a PFIC.
Appears in 2 contracts
Samples: Underwriting Agreement (Teekay Offshore Partners L.P.), Underwriting Agreement (Teekay LNG Partners L.P.)
Investment Company; PFIC. For a period of five years after the First Closing Date or, if later, the Option Closing Date, the Partnership Company will use its reasonable best reasonable efforts to ensure that (i) no Partnership Entity, neither the Company nor any subsidiary thereof, shall Subsidiary will become an "“investment company" ,” as defined in the 1940 Investment Company Act, or otherwise become subject to the Investment Company Act and (2ii) the Partnership shall Company will continue its operations in such a manner that it will not become a PFIC.
Appears in 2 contracts
Samples: Underwriting Agreement (Genco Shipping & Trading LTD), Underwriting Agreement (Aries Maritime Transport LTD)
Investment Company; PFIC. For a period of five years after the Closing Date or, if later, the Option Closing Date, the Partnership Company will use its best reasonable efforts to ensure that (i) no Partnership Company Entity, nor any subsidiary thereof, shall become an "“investment company" ” as defined in the 1940 Act, and (2) the Partnership Company shall not become a PFIC.
Appears in 1 contract
