Finally, the company mentioned that borrowings under the credit facility are subject to different covenants such as the leverage restrictions contained in the Investment Company Act of 1940
, as amended, as long as the company's asset coverage ratio under the credit facility is not less than 150%.
Issuer: Runway Growth Credit Fund Inc., a Maryland corporation that has elected to be regulated as a business development company under the Investment company Act of 1940
The fund is a diversified, closed-end management investment company, registered under the Investment Company Act of 1940
, as amended.
Solar Capital announced that effective August 2, 2018, its Board of Directors including all Independent Directors, and based on the recommendation of its investment advisor, Solar Capital Partners, approved the reduction in the asset coverage requirement under of the Investment Company Act of 1940
as allowed under the Small Business Credit Availability Act.
The Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940
. The Funds primary objective is to provide a high level of current income from interest, dividends and option premiums, and it invests primarily in securities of companies principally engaged in the natural resources and gold industries.
Grohowski, who will start at IAA in March, is currently an associate general counsel with the Investment Company Institute (ICI), with primary responsibility for a wide range of issues arising under the Investment Advisers Act of 1940 and the Investment Company Act of 1940
. He previously led the ICI's International Affairs department.
The company president, Rob Thummel, said, 'The weak performance of MLPs and Canadian Royalty and Income Trusts in October and November required that we sell some investments and pay down leverage to comply with the coverage ratios as mandated by the Investment Company Act of 1940
and our loan documents.
Such partnership would be an investment company under Section 3(a)(1)(A) of the Investment Company Act of 1940
(1940 Act), but for an exemption under Section 3(c)(1) or (7) of the 1940 Act (i.e., the company holds itself out as being primarily engaged in the business of investing, reinvesting or wading in securities and meets the 1940 Act's requirements, notwithstanding the rules requiring (1) 100 minimum beneficial owners and (2) qualified purchasers).
Such a put makes the notes 2a-7 securities under the Investment Company Act of 1940
, eligible for investment by money market funds.
It covers the Securities Act of 1933 and the Securities Exchange Act of 1934, including selected rules and forms; selected provisions of Regulations S-K and S-X; Regulations M and M-A; selected provisions of Regulation ATS; Regulations AC, FD, and G; selected provisions of the Rules of Practice and Investigations; selected release of Staff Accounting Bulletins; the Sarbanes-Oxley Act of 2002; selected provisions of the Investment Advisers Act of 1940 and the Advisers Act Rules; and selected provisions of the Investment Company Act of 1940
and the Investment Company Act Rules.
Registrants may voluntarily furnish XBRL data in an exhibit to specified EDGAR filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940
. This program begins with the 2004 calendar year-end reporting season.
Federal regulators enforce, among other statutes, the Investment Company Act of 1940
and Investment Advisers Act of 1940.