SBA Matters. The Company shall have executed and delivered to each Purchaser that is a licensed Small Business Investment Company a Size Status Declaration on SBA Form 480, an Assurance of Compliance on SBA Form 652 and an SBA Certification in the form provided to the Company, and shall have provided to each such Purchaser information necessary for the preparation of a Portfolio Financing Report on SBA Form 1031.
SBA Matters. Each Loan Party will, and will cause each of its Subsidiaries to: (a) upon the request of any Lender that is a Small Business Investment Company (as defined in the SBIA), repay such Lender’s Term Loan in full (including the applicable prepayment fee), in immediately available funds, in the event that any Borrower or any other Loan Party changes the nature of its business within one year after the Closing Date (or, if applicable, any later borrowing date hereunder) in a manner that would cause such Lender to have provided funds any Borrower or any other Loan Party pursuant to this Agreement or any other Loan Document in violation of 13 C.F.R. §§ 107.700-107.760 (as amended from time to time); (b) upon the request of any Lender that is a Small Business Investment Company or the SBA, (i) submit to such Lender and/or the SBA timely and accurate compliance reports at such times and in such form and containing such information as the SBA may determine to be necessary to enable the SBA to ascertain whether each Borrower and each other Loan Party have complied or are complying with 13 C.F.R. Part 112 (“Part 112”), (ii) submit to such Lender such information as may be necessary to enable such Lender to meet its reporting requirements under Part 112, and (iii) permit the SBA to have access with advance written notice and during normal business hours to such of its books, records, accounts and other sources of information, and its facilities as may be pertinent to ascertain compliance with Part 112. Where any information required of any Borrower or any other Loan Party is in the exclusive possession of any other agency, institution or Person and such agency, institution or Person shall fail or refuse to furnish this information, each Borrower and each other Loan Party shall so certify in its report and shall set forth what efforts it has made to obtain this information; and (c) upon any Lender’s request, take any and all actions required to permit any Lender to comply with SBIA and applicable law, in the event such Lender is restricted or prohibited from holding Term Loans or Qualified Equity Interests in any Loan Party or any Affiliate thereof as a result of any noncompliance thereunder.
SBA Matters. Unless (i) Rand shall have received the SBA Approval or (ii) the SBA has provided confirmation to Rand that no approval from the SBA is required, in a manner that would allow the SBA Debentures to remain outstanding in accordance with their respective terms, Rand shall have delivered evidence to East of the payoff of, or the escrowing of funds in an amount sufficient to payoff, the SBA Debentures in accordance with SBA regulations.
SBA Matters. Each of Holdings and each Borrower acknowledges that Brightwood Capital SBIC I, LP is, and certain other Lenders may from time to time be or become, a Small Business Investment Company (as defined in the SBIA), subject to the rules and regulations contained in and promulgated under the SBIA. As of the Closing Date, each of Holdings and each Borrower, together with its “affiliates” (for purposes of this paragraph only, as that term is defined in Title 13, Code of Federal Regulations, §121.103), is a Small Business Concern (as defined in the SBIA). Neither Holdings nor any of its Subsidiaries presently engages in, and shall not hereafter engage in, any activities for which a Small Business Concern is prohibited from engaging in under the SBIA, nor shall any such Person use directly or indirectly the proceeds of the Term Loans for any purpose for which a Small Business Investment Company is prohibited from providing funds by the SBIA. The representations made by Holdings and each Borrower in the SBA forms delivered on the Closing Date pursuant to Section 5.13 (or such later date of delivery) shall be deemed to be representations made by Holdings and each Borrower as of the Closing Date (or such later date) under this Section 4.34.
SBA Matters. The Company acknowledges that Investor has informed the Company that it is a Federal licensee or sub-licensee under the Small Business Investment Act ("SBIA") and a participant in the Small Business Investment Company ("SBIC") program of the United States Small Business Administration ("SBA") and, as such, in its business and investment activities is required to comply with the SBIA and all regulations, advice, direction and guidance applicable to SBIC's. In addition, such laws and regulations also require certain practices on the part of the companies in which Investor makes investments, including but not limited to those requirements specifically enumerated in this Agreement. So long as Investor holds any securities of the Company:
(A) The Company will not change the nature of its business activity in a manner that would cause a violation of Sections 107.720 and/or 107.760(b) of Title 13 of the
SBA Matters. The Company acknowledges that certain of the Investors are Small Business Investment Companies (as defined in the SBIA), subject to the rules and regulations contained in and promulgated under the SBIA. The Company, together with its “affiliates” (for purposes of this paragraph only, as that term is defined in Title 13, Code of Federal Regulations, §121.103), constitute a Small Business Concern (as defined in the SBIA). No Company Party presently engages in, and shall not hereafter engage in, any activities for which a Small Business Concern is prohibited from engaging in under 13 C.F.R §107.720, nor shall any Company Party use directly or indirectly the proceeds of the Preferred Stock or the Warrant for any purpose for which a Small Business Investment Company is prohibited from providing funds by the SBIA. The representations made by the Company in the SBA forms delivered pursuant to Section 3.1(a) shall be deemed to be representations made by the Company under this Section 4.24.
SBA Matters. Check box whether or not Investor is a Small Business Investment Company, and therefore, Schedule B applies Yes [X], No [ ] 4 <PAGE> Section 11. Section 4(k)(4) (A) through (G)
SBA Matters. The Company is a "small business concern" within the ----------- meaning of the federal Small Business Investment Act of 1958, as amended, and the regulations thereunder (the "Small Business Investment Act"), and Part 121 ----------------------------- of Title 13 of the United States Code of Federal Regulations ("CFR") by virtue --- of having net worth of less than $18,000,000 as of the end of its last fiscal year and average net income (after federal taxes) for its last two fiscal years of less than $6,000,000. The information set forth on SBA Forms 480, 652 and 1031 previously furnished by the Company to the Investors that are SBICs is complete and correct in all material respects.
SBA Matters. Upon the request of the Second Lien Administrative Agent or any Second Lien Lender under Section 2.13(g) of the Second Lien Credit Agreement, the Borrower shall repay the Secured Obligations in full, in immediately available funds, in the event that the Borrower or any of its Subsidiaries (or any other Loan Party) changes the nature of its business within one (1) year after the Closing Date in a manner that would cause the Second Lien Administrative Agent or any Second Lien Lender to have provided funds to the Borrower pursuant to the Second Lien Credit Agreement in violation of 13 C.F.R. §§107.700-107.760 (as amended from time to time); provided, however, if the Administrative Agent receives evidence reasonably satisfactory to it that the SBA has approved the request of the Second Lien Administrative Agent or such Second Lien Lender to retain its notes and investment under the Second Lien Credit Facility, the Borrower shall not be required to make any payment pursuant to this Section 2.13(i). All such proceeds shall be paid and applied in accordance with Sections 2.13(g) and (h).
SBA Matters. (a) The Company acknowledges that CVC is a federally licensed SBIC under the SBIC Act. The information regarding the Company and its affiliates set forth in SBA Form 480, Form 652 and Parts A and B of Form 1031 delivered at the Closing is accurate and complete in all material respects. Copies of such forms shall have been completed by the Company and delivered to CVC at the closing. Neither the Company nor any Subsidiary presently engages in, or shall hereafter engage in, any activities, nor shall the Company or any Subsidiary use the proceeds of the Financing directly or indirectly for any purpose, for which an SBIC is prohibited from providing funds by SBIC Regulations (including 13 CFR Section 107.720).
