RIC Status under the Code; Investment Company Act. (a) The Initial Borrower has elected to be treated as a “regulated investment company” within the meaning of the Code and shall at all times hereafter maintain its status as a “regulated investment company” and be taxed as such within the meaning of the Code, and shall at all times maintain its status as a “business development company” under the Investment Company Act.
Appears in 3 contracts
Samples: Credit Agreement (AGTB Private BDC), Revolving Credit Agreement (Franklin BSP Capital Corp), Revolving Credit Agreement (Franklin BSP Capital Corp)
RIC Status under the Code; Investment Company Act. (a) The Each of Initial Borrower has elected and Feeder Fund A will elect to be treated as a “regulated investment company” within the meaning of the Code commencing with the first taxable year in which investors are issued equity interests in the Initial Borrower and shall Feeder Fund A and, subject to applicable grace periods set forth in the Code, will at all times hereafter thereafter maintain its status as a “regulated investment company” and be taxed as such within the meaning of the Code, and shall will at all times maintain its status as a “business development company” under the Investment Company Act.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Stellus Private Credit BDC)