Common use of RIC Status Clause in Contracts

RIC Status. To elect to be taxable as a RIC within the meaning of Section 851(a) of the Code commencing with its taxable year ending December 31, 2014 by timely filing its 2014 U.S. federal income tax return as a RIC on Internal Revenue Service Form 1120-RIC, and to use its best efforts to maintain such qualification and election in effect for each taxable year during which it is a BDC under the 1940 Act.

RIC Status. To elect to be taxable as a RIC within the meaning of Section 851(a) of the Code commencing with its taxable year ending ended December 31, 2014 by timely filing its 2014 U.S. federal income tax return as a RIC on Internal Revenue Service Form 1120-RIC, and to use its best efforts to maintain such qualification and election in effect for each taxable year during which it is a BDC under the 1940 Act.