RIC Compliance Sample Clauses

The RIC Compliance clause ensures that a company or entity maintains its status as a Regulated Investment Company (RIC) under applicable tax laws. This clause typically requires the entity to adhere to specific income, asset, and distribution requirements set forth by tax authorities, such as the Internal Revenue Service in the United States. For example, it may obligate the company to distribute a certain percentage of its income to shareholders or limit investments in non-qualifying assets. The core function of this clause is to preserve favorable tax treatment for the entity and its investors by mandating ongoing compliance with RIC regulations.
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RIC Compliance. The Company qualifies, and intends to continue to operate its business so as to continue to qualify, as a “regulated investment company” (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company also intends to direct the investment of the proceeds received by it from the sale of the Notes in such a manner as to comply with the requirements of Subchapter M of the Code.
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RIC Compliance. Since [—], 2010, the Company has been organized and operated, and currently is organized and operated, in conformance with the requirements to be taxed as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”).
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RIC Compliance. Members acknowledge that the GECC Member is taxable as a RIC under Subchapter M of the Code and, in furtherance thereof, may direct that any Business of the Company to be restructured (including through the use of one or more entities treated as corporations for U.S. federal income tax purposes) if GECC Member reasonably determines (including via notice from the Company) that the Company has derived or is likely to derive income from such Business that is non-qualifying for purposes of Section 851(b)(2) of the Code. In the event that the Company derives any income that is non-qualifying for purposes of Section 851(b)(2) of the Code as a result of a Business, the Administrative Agent shall notify GECC Member within sixty (60) days thereof.
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RIC Compliance. Each of Equus and MVC is in compliance with requirements applicable to RICs under the Code, including relevant rules and Treasury Regulations promulgated thereunder.
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Related to RIC Compliance

  • FERPA Compliance In connection with all FERPA Records that Contractor may create, receive or maintain on behalf of University pursuant to the Underlying Agreement, Contractor is designated as a University Official with a legitimate educational interest in and with respect to such FERPA Records, only to the extent to which Contractor (a) is required to create, receive or maintain FERPA Records to carry out the Underlying Agreement, and (b) understands and agrees to all of the following terms and conditions without reservation:

  • CEQA Compliance The District has complied with all assessment requirements imposed upon it by the California Environmental Quality Act (Public Resource Code Section 21000 et seq. (“CEQA”) in connection with the Project, and no further environmental review of the Project is necessary pursuant to CEQA before the construction of the Project may commence.

  • FCPA Compliance The Company has not and, to the Company’s actual knowledge, none of its employees or agents at any time during the last five years have (i) made any unlawful contribution to any candidate for foreign office, or failed to disclose fully any contribution in violation of law, or (ii) made any payment to any federal or state governmental officer or official, or other person charged with similar public or quasi-public duties, other than payments required or permitted by the laws of the United States or any jurisdiction thereof.

  • OSHA Compliance To the extent applicable to the services to be performed under this Agreement, Contractor represents and warrants, that all articles and services furnished under this Agreement meet or exceed the safety standards established and promulgated under the Federal Occupational Safety and Health Law (Public Law 91-596) and its regulations in effect or proposed as of the date of this Agreement.

  • CRA Compliance Neither Buyer nor any Buyer Subsidiary has received any notice of non-compliance with the applicable provisions of the CRA and the regulations promulgated thereunder. As of the date hereof, Buyer’s and each Buyer Subsidiary’s most recent examination rating under the CRA was “satisfactory” or better. Buyer knows of no fact or circumstance or set of facts or circumstances which would be reasonably likely to cause Buyer or any Buyer Subsidiary to receive any notice of non-compliance with such provisions of the CRA or cause the CRA rating of Buyer or any Buyer Subsidiary to decrease below the “satisfactory” level.