Margin Regulations. Neither the Borrower nor any of its Subsidiaries is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than twenty-five percent (25%) of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated basis) subject to the provisions of [Section 7.01] or [Section 7.05] or subject to any restriction contained in any agreement or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(e)] will be margin stock.

No Borrower nor any of its Subsidiaries is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than twenty-five percent (25%)25% of the value of the assets (either of the applicable Borrower only or of the Borrower​ and its Subsidiaries on a Consolidatedconsolidated basis) subject to the provisions of [Section 7.01] or [Section 7.05]02] or subject to any restriction contained in any agreement or instrument between theany Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(e)] will be margin stock.

Margin Regulations.Regulations; Investment Company Act. Neither the Borrower nor any of its Subsidiaries is engaged orand neither Borrower will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U)U issued by the FRBFederal Reserve Board), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than twenty-five percent (25%)25% of the value of the assets (either of theeither Borrower only or of theeither Borrower and its respective Subsidiaries on a Consolidatedconsolidated basis) subject to the provisions of [Section 7.01] or [Section 7.05] or subject to any restriction contained in any agreement or instrument between theeither Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(e)] will be margin stock.

Margin Regulations. Neither the Borrower nor any of its SubsidiariesThe ​ is not engaged orand will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U)U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.stock or refunding indebtedness originally incurred for such purpose, in each case in violation of, or for a purpose which violates, or would be inconsistent with, Regulation T, U or X of the FRB. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than twenty-five percent (25%)25% of the value of the assets (either of the Borrower​ only or of the Borrower​ and its Subsidiaries on a Consolidated basis) subject to the provisions of [Section 7.01] or [Section 7.05] or subject to any restriction contained in any agreement or instrument between the Borrower or any of its Subsidiaries​ and any Lender​ or any Affiliate of any Lender​ relating to Indebtedness and within the scope of [Section 8.01(e)] will be margin stock.

SECTION # Regulation U. Neither the Borrower nor any of its SubsidiariesSubsidiary is engaged or will engage, principallyprincipally, or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing or carrying margin stock. Following the applicationMargin Stock. Margin Stock constitutes less than 25% of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than twenty-five percent (25%) of the value of theconsolidated assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated basis) subject to the provisions of [Section 7.01] or [Section 7.05] orwhich are subject to any restriction contained in any agreementlimitation on sale or instrument between the Borrowerpledge or any other restriction hereunder. No part of its Subsidiaries and any Lender or any Affiliatethe proceeds of any Lender relating to Indebtedness and within the scope of [Section 8.01(e)]Loan will be margin stock.used to purchase or carry any Margin Stock in violation of Regulation U or for any other purpose that entails a violation of Regulation U.

No Credit Party or Subsidiary is engaged ornor will it engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U)U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.stock in violation of Applicable Law. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than twenty-five percent (25%) of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated basis)consolidated basis subject to the provisions of [Section 7.01]9.1] or [Section 7.05]9.5] or subject to any restriction contained in any agreement or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(10.1(e)] will be margin stock.

No Credit Party or Subsidiary is engaged ornor will it engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U)U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.stock in violation of Applicable Law. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than twenty-five percent (25%) of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated basis)consolidated basis subject to the provisions of [Section 7.01]9.1] or [Section 7.05]9.5] or subject to any restriction contained in any agreement or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(10.1(e)] will be margin stock.

Section # Margin Regulations. NeitherStock. None of the Borrower noror any of its SubsidiariesRestricted Subsidiary is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U),carrying, or extending credit for the purpose of purchasing or carryingcarrying, margin stock. Followingstock (within the applicationmeaning of Regulation U issued by the Board), and no proceeds of each Borrowingany Loan or drawing under eachany Letter of Credit, not more than twenty-five percent (25%) of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated basis) subject to the provisions of [Section 7.01] or [Section 7.05] or subject to any restriction contained in any agreement or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(e)]Credit will be used to purchase or carry any margin stock.stock or to extend credit to others for the purpose of purchasing or carrying any margin stock in violation of Regulation U or Regulation X issued by the Board and all official rulings and interpretations thereunder or thereof.

SECTION # Margin Regulations. Neither the BorrowerStock. No Credit Party nor any of its SubsidiariesSubsidiary thereof is engaged or will engage, principally or as one of its important activities,activities in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of “purchasing” or “carrying” any “margin stock” (as each such term is defined or used, directly or indirectly, in Regulation U of the Board of Governors of the Federal Reserve System). No part of the proceeds of any of the Loans or Letters of Credit will be used for purchasing or carrying margin stock.stock or for any purpose which violates, or which would be inconsistent with, the provisions of Regulation T, U or X of such Board of Governors. Following the application of the proceeds of each Borrowing or drawing under each LetterExtension of Credit, not more than twenty-five percent (25%) of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated basis) subject to the provisions of [Section 7.01]9.2] or [Section 7.05] or subject to any restriction contained in any agreement or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(e)]9.5] will be margin stock.“margin stock”.

Regulation U. The Borrower nor any of its Subsidiaries is not engaged orand will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U),Margin Stock, or extending credit for the purpose of purchasing or carrying margin stock.Margin Stock, and no part of the proceeds of any Advance hereunder will be used to buy or carry any Margin Stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit,Advance, not more than twenty-five percent (25%)25% of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidatedconsolidated basis) subject to the provisions of [Section 7.01] or [Section 7.05] or subject to any restriction contained in any agreement or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of [Section 8.01(e)] will be margin stock.Margin Stock.