SBIC Clause Samples

The SBIC (Small Business Investment Company) clause defines the rights and obligations of parties when an investor in a company is an SBIC, a type of investment fund licensed by the U.S. Small Business Administration. This clause typically outlines compliance requirements with federal regulations, such as restrictions on the use of proceeds, reporting obligations, and limitations on certain business activities to maintain the company's eligibility for SBIC investment. Its core function is to ensure that both the company and its investors adhere to the specific legal and regulatory framework governing SBICs, thereby protecting the investment and maintaining compliance with federal law.
SBIC. The Buyer is a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.
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SBIC. Lender has received a license from the U.S. Small Business Administration (“SBA”) to extend loans as a small business investment company (“SBIC”) pursuant to the Small Business Investment Act of 1958, as amended, and the associated regulations (collectively, the “SBIC Act”). Portions of the loan to Borrower will be made under the SBA license and the SBIC Act. This letter outlines various responsibilities of Lender and Borrower associated with an SBA loan.
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SBIC. BL is, and has been since the date of its incorporation, a qualified "7 (a) lender under the Small Business Administration Act and is in compliance with all conditions or requirements imposed by the SBA or any other applicable Governmental Authority with respect to its status thereof, including, without limitation, all conditions and requirements imposed under the Small Business Administration Act and the SBA Regulations promulgated thereunder.
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SBIC. Borrower is, and has been since the date of its incorporation, a qualified SBIC. Borrower is in compliance with all conditions or requirements imposed by the SBA or any other applicable Governmental Authority with respect to its status as a SBIC including, without limitation, all conditions and requirements imposed under the SBI Act and the SBA Regulations promulgated thereunder.
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SBIC. (a) If the Partnership becomes an SBIC, the Partnership shall not be required to take any action or refrain from any action that may be necessary for the Partnership to maintain its status as an SBIC if the General Partner, in its sole discretion, determines that it would be desirable for the Partnership to cease being an SBIC. (b) In order to permit the Partnership to become an SBIC, the General Partner shall have the authority, without obtaining the approval of any Limited Partners, to amend this Agreement to the extent necessary to comply with any applicable SBIC Regulations or to obtain SBA approval of the Partnership's Application to become an SBIC, including any of the following matters: the dissolution and/or reorganization of the Partnership, the removal of the General Partner, the rights of any transferee of or successor to the General Partner and the indemnification of the General Partner. However, (i) the General Partner shall not have the authority to amend any of the Sections included in Article 3 herein or Section
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SBIC. The Borrower is a duly licensed small business investment company authorized by the SBA under the SBIC Regulations. The Borrower is in good standing with the SBA and is not subject to any restriction, letter agreement, probation or other special condition respecting Borrower's eligibility, qualification or operation as a small business investment company.
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SBIC 
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Related to SBIC

  • Investment Management If and to the extent requested by the Advisor, the Sub-Advisor shall, subject to the supervision of the Advisor, manage all or a portion of the investments of the Portfolio in accordance with the investment objective, policies and limitations provided in the Portfolio's Prospectus or other governing instruments, as amended from time to time, the Investment Company Act of 1940 (the "1940 Act") and rules thereunder, as amended from time to time, and such other limitations as the Trust or Advisor may impose with respect to the Portfolio by notice to the Sub-Advisor. With respect to the portion of the investments of the Portfolio under its management, the Sub-Advisor is authorized to make investment decisions on behalf of the Portfolio with regard to any stock, bond, other security or investment instrument, and to place orders for the purchase and sale of such securities through such broker-dealers as the Sub-Advisor may select. The Sub-Advisor may also be authorized, but only to the extent such duties are delegated in writing by the Advisor, to provide additional investment management services to the Portfolio, including but not limited to services such as managing foreign currency investments, purchasing and selling or writing futures and options contracts, borrowing money or lending securities on behalf of the Portfolio. All investment management and any other activities of the Sub-Advisor shall at all times be subject to the control and direction of the Advisor and the Trust's Board of Trustees.

  • Investment Advisory Services The Adviser undertakes to act as investment adviser of the Portfolio and shall, subject to the supervision of the Fund's Board of Trustees, direct the investments of the Portfolio in accordance with the investment objective, policies and limitations as provided in the Portfolio's Prospectus or other governing instruments, as amended from time to time, the Investment Company Act of 1940 and rules thereunder, as amended from time to time (the "1940 Act"), and such other limitations as the Portfolio may impose by notice in writing to the Adviser. The Adviser shall also furnish for the use of the Portfolio office space and all necessary office facilities, equipment and personnel for servicing the investments of the Portfolio; and shall pay the salaries and fees of all officers of the Fund, of all Trustees of the Fund who are "interested persons" of the Fund or of the Adviser and of all personnel of the Fund or the Adviser performing services relating to research, statistical and investment activities. The Adviser is authorized, in its discretion and without prior consultation with the Portfolio, to buy, sell, lend and otherwise trade in any stocks, bonds and other securities and investment instruments on behalf of the Portfolio. The investment policies and all other actions of the Portfolio are and shall at all times be subject to the control and direction of the Fund's Board of Trustees.

  • Special Situations ▇▇▇▇▇▇▇ BENEFICIARY agrees to inform AGENCY within one (1) business day of any circumstances or events which may reasonably be considered to jeopardize its capability to continue to meet its obligations under the terms of this Agreement. Incidents may include, but are not limited to, those resulting in injury, media coverage or public reaction that may have an impact on the AGENCY’S or GRANTEE BENEFICIARY’S ability to protect and serve its participants, or other significant effect on the AGENCY or GRANTEE BENEFICIARY. Incidents shall be reported to the designated AGENCY contact below by phone or email only. Incident report information shall not include any identifying information of the participant.

  • Management Company The UCITS and its Sub-Funds are managed by the Management Company, in accordance with this Unit Trust Agreement for the account, and in the sole interest, of the Unitholders. In accordance with the applicable laws and regulations and this Unit Trust Agreement, the Management Company is entitled to dispose of the assets of the UCITS / Sub-Funds and to exercise any and all rights thereunder.

  • Investment Advisor The Buyer is an investment advisor registered under the Investment Advisors Act of 1940.