Qualification as a Regulated Investment Company. The Company will use its commercially reasonable best efforts to qualify for and elect to be treated as a “regulated investment company” under Subchapter M of the Code for its taxable year ending December 31, [ ], and to maintain such qualification and election in effect for each full fiscal year during which it is a business development company under the Investment Company Act; provided however, that at the discretion of the Company’s board of directors, it may elect not to be so treated.
Qualification as a Regulated Investment Company. The Company will use its reasonable efforts to comply with the applicable requirements to be treated as a “regulated investment company” (“RIC”) under Subchapter M of the Code; provided however, that at the discretion of the Company’s board of directors, it may elect not to be so treated.
Qualification as a Regulated Investment Company. The Company intends to elect to be treated, for federal income tax purposes, as a regulated investment company (a “RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company intends to satisfy the requirements for qualification and taxation as a RIC under Subchapter M of the Code as of the end of its taxable year ending on December 31, 2017. The Company is in compliance with the requirements of the Code necessary to continue to qualify as a RIC for its current taxable year. The Company’s current and proposed method of operation, including the investment of the net proceeds of the Offering, will allow the Company to continue to qualify and be taxed as a RIC under Subchapter M of the Code.
Qualification as a Regulated Investment Company. The Company will, (i) during a period of at least 12 months from the Expiration Date, use its commercially reasonable efforts to maintain its status as a BDC under the Investment Company Act; provided, however, the Company may cease to be, or withdraw its election as a BDC under the Investment Company Act, with the approval of its board of directors and a vote of its stockholders as required by Section 58 of the Investment Company Act, or a successor provision and (ii) use its commercially reasonable efforts to maintain its qualification as a RIC under the Subchapter M of Code for each taxable year during which it is a BDC under the Investment Company Act.
