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.ubermenu-target{ border:none; box-shadow:none; } .ubermenu-responsive .ubermenu-item.ubermenu-has-submenu-flyout{ position:static; } .ubermenu-responsive.ubermenu-sub-indicators .ubermenu-submenu-type-flyout .ubermenu-has-submenu-drop > .ubermenu-target:after{ content:"\f107"; } .ubermenu-responsive .ubermenu-nav .ubermenu-item .ubermenu-submenu.ubermenu-submenu-drop{ width:100%; min-width:100%; max-width:100%; top:auto; left:0 !important; } .ubermenu-responsive.ubermenu-has-border .ubermenu-nav .ubermenu-item .ubermenu-submenu.ubermenu-submenu-drop{ left: -1px !important; /* For borders */ } .ubermenu-responsive .ubermenu-submenu.ubermenu-submenu-type-mega > .ubermenu-item.ubermenu-column{ min-height:0; border-left:none; float:left; /* override left/center/right content alignment */ display:block; } .ubermenu-responsive .ubermenu-item.ubermenu-active > .ubermenu-submenu.ubermenu-submenu-type-mega{ max-height:none; height:auto;/*prevent overflow scrolling since android is still finicky*/ overflow:visible; } .ubermenu-responsive.ubermenu-transition-slide .ubermenu-item.ubermenu-in-transition > .ubermenu-submenu-drop{ max-height:1000px; /* because of slide transition */ } .ubermenu .ubermenu-submenu-type-flyout .ubermenu-submenu-type-mega{ min-height:0; } .ubermenu.ubermenu-responsive .ubermenu-column, .ubermenu.ubermenu-responsive .ubermenu-column-auto{ min-width:50%; } .ubermenu.ubermenu-responsive .ubermenu-autoclear > .ubermenu-column{ clear:none; } .ubermenu.ubermenu-responsive .ubermenu-column:nth-of-type(2n+1){ clear:both; } .ubermenu.ubermenu-responsive .ubermenu-submenu-retractor-top:not(.ubermenu-submenu-retractor-top-2) .ubermenu-column:nth-of-type(2n+1){ clear:none; } .ubermenu.ubermenu-responsive .ubermenu-submenu-retractor-top:not(.ubermenu-submenu-retractor-top-2) .ubermenu-column:nth-of-type(2n+2){ clear:both; } .ubermenu.ubermenu-responsive .ubermenu-tabs, .ubermenu.ubermenu-responsive .ubermenu-tabs-group, .ubermenu.ubermenu-responsive .ubermenu-tab, .ubermenu.ubermenu-responsive .ubermenu-tab-content-panel{ /** TABS SHOULD BE 100% ACCORDION */ width:100%; min-width:100%; max-width:100%; left:0; } .ubermenu.ubermenu-responsive .ubermenu-tabs, .ubermenu.ubermenu-responsive .ubermenu-tab-content-panel{ min-height:0 !important;/* Override Inline Style from JS */ } .ubermenu.ubermenu-responsive .ubermenu-tabs{ z-index:15; } .ubermenu.ubermenu-responsive .ubermenu-tab-content-panel{ z-index:20; } /* Tab Layering */ .ubermenu-responsive .ubermenu-tab{ position:relative; } .ubermenu-responsive .ubermenu-tab.ubermenu-active{ position:relative; z-index:20; } .ubermenu-responsive .ubermenu-tab > .ubermenu-target{ border-width:0 0 1px 0; } .ubermenu-responsive.ubermenu-sub-indicators .ubermenu-tabs > .ubermenu-tabs-group > .ubermenu-tab.ubermenu-has-submenu-drop > .ubermenu-target:after{ content:"\f107"; } .ubermenu-responsive .ubermenu-tabs > .ubermenu-tabs-group > .ubermenu-tab > .ubermenu-tab-content-panel{ top:auto; border-width:1px; } .ubermenu-responsive .ubermenu-tab-layout-bottom > .ubermenu-tabs-group{ /*position:relative;*/ } .ubermenu-reponsive .ubermenu-item-level-0 > .ubermenu-submenu-type-stack{ /* Top Level Stack Columns */ position:relative; } .ubermenu-responsive .ubermenu-submenu-type-stack .ubermenu-column, .ubermenu-responsive .ubermenu-submenu-type-stack .ubermenu-column-auto{ /* Stack Columns */ width:100%; max-width:100%; } .ubermenu-responsive .ubermenu-item-mini{ /* Mini items */ min-width:0; width:auto; float:left; clear:none !important; } .ubermenu-responsive .ubermenu-item.ubermenu-item-mini > a.ubermenu-target{ padding-left:20px; padding-right:20px; } .ubermenu-responsive .ubermenu-item.ubermenu-hide-mobile{ /* Hiding items */ display:none !important; } .ubermenu-responsive.ubermenu-hide-bkgs .ubermenu-submenu.ubermenu-submenu-bkg-img{ /** Hide Background Images in Submenu */ background-image:none; } .ubermenu.ubermenu-responsive .ubermenu-item-level-0.ubermenu-item-mini{ min-width:0; width:auto; } .ubermenu-vertical .ubermenu-item.ubermenu-item-level-0{ width:100%; } .ubermenu-vertical.ubermenu-sub-indicators .ubermenu-item-level-0.ubermenu-item-has-children > .ubermenu-target:after{ content:'\f107'; } .ubermenu-vertical .ubermenu-item.ubermenu-item-level-0.ubermenu-relative.ubermenu-active > .ubermenu-submenu-drop.ubermenu-submenu-align-vertical_parent_item{ top:auto; } .ubermenu-responsive-toggle{ display:block; } } @media screen and (max-width: 480px){ .ubermenu.ubermenu-responsive .ubermenu-item-level-0{ width:100%; } .ubermenu.ubermenu-responsive .ubermenu-column, .ubermenu.ubermenu-responsive .ubermenu-column-auto{ min-width:100%; } } /** UberMenu Custom Menu Styles (Customizer) **/ /* main */ .ubermenu-main { background-color:#000000; background:-webkit-gradient(linear,left top,left bottom,from(#000000),to(#000000)); background:-webkit-linear-gradient(top,#000000,#000000); background:-moz-linear-gradient(top,#000000,#000000); 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class="ubermenu-item ubermenu-item-type-post_type ubermenu-item-object-page ubermenu-item-65 ubermenu-item-level-0 ubermenu-column ubermenu-column-auto"><a class="ubermenu-target ubermenu-item-layout-default ubermenu-item-layout-text_only" href="https://web.archive.org/web/20210720163114/https://www.arescotx.com/contact-us/" tabindex="0"><span class="ubermenu-target-title ubermenu-target-text">Contact</span></a></li></ul></nav>  </div> </div> </div> </div> <div id="rotatortwo"> <div class="container"> <div class="row"> <div class="col-md-12 margintoptwo"> <h1>What is a QIB?</h1> </div> </div> </div> </div> <script type="text/javascript"> var imgCount = 8; var dir = 'https://web.archive.org/web/20210720163114/https://www.arescotx.com/bgimages/'; var randomCount = Math.round(Math.random() * (imgCount - 1)) + 1; var images = new Array images[1] = "01.jpg", images[2] = "02.jpg", images[3] = "03.jpg", images[4] = "04.jpg", images[5] = "05.jpg", images[6] = "06.jpg", images[7] = "07.jpg", images[8] = "08.jpg", document.getElementById("rotatortwo").style.backgroundImage = "url(" + dir + images[randomCount] + ")"; </script> <div class="container content"> <div class="row"> <div class="col-lg-12 col-md-12" style="margin-top:18px;"> <h2 dir="ltr">Qualified Institutional Buyer Definition</h2> <p dir="ltr">Qualified Institutional Buyer (“QIB”) shall mean:</p> <ol> <li> <p dir="ltr">i. Any of the following entities, acting for its own account or the accounts of other qualified institutional buyers, that in the aggregate owns and invests on a discretionary basis at least $100 million in securities of issuers that are not affiliated with the entity:</p> <ol> <li> <p dir="ltr">A. Any insurance company as defined in section 2(a)(13) of the Act;</p> </li> </ol> </li> <li> <p dir="ltr">Note: A purchase by an insurance company for one or more of its separate accounts, as defined by section 2(a)(37) of the Investment Company Act of 1940 (the “Investment Company Act”), which are neither registered under section 8 of the Investment Company Act nor required to be so registered, shall be deemed to be a purchase for the account of such insurance company.</p> <ol> <li> <p dir="ltr">B. Any investment company registered under the Investment Company Act or any business development company as defined in section 2(a)(48) of that Act;</p> </li> <li> <p dir="ltr">C. Any 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;</p> </li> <li> <p dir="ltr">D. Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees;</p> </li> <li> <p dir="ltr">E. Any employee benefit plan within the meaning of title I of the Employee Retirement Income Security Act of 1974;</p> </li> <li> <p dir="ltr">F. Any trust fund whose trustee is a bank or trust company and whose participants are exclusively plans of the types identified in paragraph (a)(1)(i)(D) or (E) of this section, except trust funds that include as participants individual retirement accounts or H.R. 10 plans.</p> </li> <li> <p dir="ltr">G. Any business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940;</p> </li> <li> <p dir="ltr">H. Any organization described in section 501(c) (3) of the Internal Revenue Code, corporation (other than a bank as defined in section 3(a)(2) of the Act or a savings and loan association or other institution referenced in section 3(a)(5)(A) of the Act or a foreign bank or savings and loan association or equivalent institution), partnership, or Massachusetts or similar business trust; and</p> </li> </ol> </li> </ol> <ol> <li style="list-style-type: none;"> <ol> <li> <p dir="ltr">I. Any investment adviser registered under the Investment Advisers Act.</p> </li> </ol> </li> <li> <p dir="ltr">ii. Any dealer registered pursuant to section 15 of the Exchange Act, acting for its own account or the accounts of other qualified institutional buyers, that in the aggregate owns and invests on a discretionary basis at least $10 million of securities of issuers that are not affiliated with the dealer, Provided, That securities constituting the whole or a part of an unsold allotment to or subscription by a dealer as a participant in a public offering shall not be deemed to be owned by such dealer;</p> </li> <li> <p dir="ltr">iii. Any dealer registered pursuant to section 15 of the Exchange Act acting in a riskless principal transaction on behalf of a qualified institutional buyer;</p> </li> </ol> <p dir="ltr"> <section class="sc_fs_faq sc_card"> <div> <h2>What is a QIB? QIB Definition</h2> <div> <figure> <a href="https://web.archive.org/web/20210720163114/https://www.arescotx.com/wp-content/uploads/what-is-a-qib-01.jpg" title="What is a QIB? Qualified Institutional Buyer Definition"> <img src="https://web.archive.org/web/20210720163114im_/https://www.arescotx.com/wp-content/uploads/what-is-a-qib-01.jpg" alt="What is a QIB? Qualified Institutional Buyer Definition"/> </a> <meta content="https://www.arescotx.com/wp-content/uploads/what-is-a-qib-01.jpg"> <meta content="400"> <meta content="235"> </figure> <p> A QIB, Qualified Institutional Buyer, must be either a domestic or foreign institution. Individuals, by definition cannot be a QIB regardless of wealth. Read more… </p> </div> </div> </section> <script type="application/ld+json"> { "@context": "https://web.archive.org/web/20210720163114/https://schema.org", "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "What is a QIB? QIB Definition", "acceptedAnswer": { "@type": "Answer", "text": " A QIB, Qualified Institutional Buyer, must be either a domestic or foreign institution. Individuals, by definition cannot be a QIB regardless of wealth. Read more… " , "image" : { "@type" : "ImageObject", "contentUrl" : "https://web.archive.org/web/20210720163114/https://www.arescotx.com/wp-content/uploads/what-is-a-qib-01.jpg" } } } ] } </script> <p dir="ltr">Note: A registered dealer may act as agent, on a non-discretionary basis, in a transaction with a qualified institutional buyer without itself having to be a qualified institutional buyer.</p> <ol> <li> <p dir="ltr">iv. Any investment company registered under the Investment Company Act, acting for its own account or for the accounts of other qualified institutional buyers, that is part of a family of investment companies which own in the aggregate at least $100 million in securities of issuers, other than issuers that are affiliated with the investment company or are part of such family of investment companies. Family of investment companies means any two or more investment companies registered under the Investment Company Act, except for a unit investment trust whose assets consist solely of shares of one or more registered investment companies, that have the same investment adviser (or, in the case of unit investment trusts, the same depositor), Provided That, for purposes of this section:</p> <ol> <li> <p dir="ltr">A. Each series of a series company (as defined in Rule 18f-2 under the Investment Company Act ) shall be deemed to be a separate investment company; and</p> </li> <li> <p dir="ltr">B. Investment companies shall be deemed to have the same adviser (or depositor) if their advisers (or depositors) are majority-owned subsidiaries of the same parent, or if one investment company’s adviser (or depositor) is a majority-owned subsidiary of the other investment company’s adviser (or depositor);</p> </li> </ol> </li> <li> <p dir="ltr">v. Any entity, all of the equity owners of which are qualified institutional buyers, acting for its own account or the accounts of other qualified institutional buyers; and</p> </li> <li> <p dir="ltr">vi. Any bank as defined in section 3(a)(2) of the Act, any savings and loan association or other institution as referenced in section 3(a)(5)(A) of the Act, or any foreign bank or savings and loan association or equivalent institution, acting for its own account or the accounts of other qualified institutional buyers, that in the aggregate owns and invests on a discretionary basis at least $100 million in securities of issuers that are not affiliated with it and that has an audited net worth of at least $25 million as demonstrated in its latest annual financial statements, as of a date not more than 16 months preceding the date of sale under the Rule in the case of a U.S. bank or savings and loan association, and not more than 18 months preceding such date of sale for a foreign bank or savings and loan association or equivalent institution.</p> </li> </ol> <p><span style="color: #ff0000;"><strong>RELATED >></strong></span> <a href="https://web.archive.org/web/20210720163114/https://www.arescotx.com/request-more-information-on-oil-investment-opportunities/">Oil Investment Opportunities Info Request</a></p> <p><span style="color: #ff0000;"><strong>RELATED >></strong></span> <a href="https://web.archive.org/web/20210720163114/http://www.txoilinvestments.com/">Oil Investment – Gulf Coast</a></p> <p><span style="color: #ff0000;"><strong>RELATED >></strong></span> <a href="https://web.archive.org/web/20210720163114/https://www.arescotx.com/category/texas-oil-and-gas-investing/">Texas Oil and Gas Investing News</a></p> <p><span style="color: #ff0000;"><strong>RELATED >></strong></span> <a href="https://web.archive.org/web/20210720163114/https://www.arescotx.com/permian-basin-oil-producers/">Private Equity Finding Permian Basin Oil Producers</a></p> </div> </div> </div> <div id="footer"> <div class="container"> <div class="row" id="newdisclaimer"> <div class="col-md-12"> <p>This is not an offer to sell nor solicitation of an offer to buy any security. 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