Common use of Investment Period Clause in Contracts

Investment Period. The investment period of the Company (the “Investment Period”) shall begin upon the commencement of the operations of the Company and continue until the earliest of the following: (i) the dissolution of the Company pursuant to Section 7.1, (ii) the termination of the Investment Period by a majority-in-interest of the Members, upon no less than sixty (60) days’ advance written notice to the Board and the Investment Adviser, (iii) the termination of the Investment Period by the Board, upon no less than sixty (60) days’ advance written notice to the Members (or such shorter notice as may be and only to the extent required or advisable to comply with applicable law and regulation), following a recommendation of the Investment Adviser that such termination is required or advisable to comply with applicable law or regulation, and (iv) the termination of the Investment Period by the Investment Adviser in accordance with Section 3.5.1(j). Following the termination of the Investment Period, the Company will have the right to issue drawdowns with respect to any Commitment only: (a) to pay, and/or establish reserves for, actual or anticipated Company Expenses, whether incurred before or after the end of the Investment Period; (b) to fulfill legally binding investment commitments made in writing by the Private Credit Investment Committee prior to the termination of the Investment Period; (c) to make investments deemed necessary for or advantageous to complying with RIC qualification requirements and the Investment Company Act; (d) subject to Section 4.5.1, to engage in currency hedging transactions with respect to any loans in currencies other than U.S. dollars; or (e) to make additional investments in or relating to existing Portfolio Companies for purposes of preserving or protecting such Portfolio Companies or the investment therein (“Follow-on Investments”); provided that the Company will not, without the consent of a majority-in-interest of the Members, invest more than 20% of the Company Value in Follow-on Investments following the termination of the Investment Period (excluding any Follow-on Investments made pursuant to Section 8.5), measured at the time the relevant Follow-on Investment is made (each of (b)-(e), an “Additional Investment”). In addition, following the termination of the Investment Period, the Company will not make any new Investments (other than Short-Term Investments) other than Additional Investments. Upon the termination of the Investment Period, the Company will provide the Members with a list of any Additional Investments described in clause (b) of this Section 6.1.2.