Xxxxxxx Rule. The Issuer is structured not to be a “covered fund” under the regulations adopted to implement Section 619 of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act, commonly known as the “Xxxxxxx Rule.”
Xxxxxxx Rule. The Trust is structured not to be a “covered fund” under the regulations adopted to implement Section 619 of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act, commonly known as the “Xxxxxxx Rule.”
Xxxxxxx Rule. To the best of the Borrower’s knowledge and belief, the Advances do not constitute an “ownership interest” in the Borrower for purposes of the Xxxxxxx Rule.
Xxxxxxx Rule. The Issuing Entity is not, and solely after giving effect to the offering and sale of the Notes and the application of the proceeds thereof will not be, a “covered fund” for purposes of regulations adopted under Section 13 of the Bank Holding Company Act of 1956, as amended, commonly known as the “Xxxxxxx Rule”; and
Xxxxxxx Rule. The transactions contemplated by this Agreement and the other Facility Documents do not result in any Lender or the Administrative Agent holding an “ownership interest” in a “covered fund” for purposes of the Xxxxxxx Rule.
Xxxxxxx Rule. An opinion that the Issuer is not a “covered fund” for purposes of the Xxxxxxx Rule, based on its current interpretations.
Xxxxxxx Rule. Based on the advice of counsel, the Advances do not constitute an “ownership interest” in the Borrower for purposes of the Xxxxxxx Rule.
Xxxxxxx Rule. Boston Private and its Subsidiaries do not engage in “proprietary trading” (as defined in 12 U.S.C. § 1851 and the regulations promulgated by the Federal Reserve Board in connection therewith (the “Xxxxxxx Rule”)) or hold any ownership interest in or sponsor any “covered fund” (as defined in the Xxxxxxx Rule).
Xxxxxxx Rule. The Issuer is not now, and immediately following the issuance of the Notes and the application of the proceeds thereof will not be, a “covered fund” for purposes of the regulations adopted under Section 13 of the Bank Holding Company Act of 1956, as amended, commonly known as the “Xxxxxxx Rule”. In reaching this conclusion, the Issuer has relied primarily on the determination that (i) the Issuer may rely on the exclusion from the definition of “investment company” set forth in Rule 3a-7 under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and accordingly, (ii) the Issuer may rely on the exclusion from the definition of a “covered fund” under the Xxxxxxx Rule of an issuer that may rely on an exclusion or exemption from the definition of “investment company” under the Investment Company Act other than the exclusions contained in Sections 3(c)(1) and 3(c)(7) of that Act.
Xxxxxxx Rule. The Subscriber represents and warrants that the Subscriber either (i) is not a “banking entity” as such term is defined under Section 619 of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act (the “Xxxxxxx Rule”) or (ii) qualifies for an exclusion, an exemption and/or other relief under the Xxxxxxx Rule with respect to the ownership of interests in the Partnership, based on the currently available and currently effective published regulatory guidance. The Subscriber acknowledges and agrees that it shall not be entitled to withdraw, in whole or in part, from the Partnership as a result of the Subscriber at any time failing to qualify for an exclusion, an exemption and/or other relief under the Xxxxxxx Rule.
