<SEC-DOCUMENT>0001379785-17-000032.txt : 20170301
<SEC-HEADER>0001379785-17-000032.hdr.sgml : 20170301
<ACCEPTANCE-DATETIME>20170301160135
ACCESSION NUMBER:		0001379785-17-000032
CONFORMED SUBMISSION TYPE:	POS EX
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20170301
DATE AS OF CHANGE:		20170301
EFFECTIVENESS DATE:		20170301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Triangle Capital CORP
		CENTRAL INDEX KEY:			0001379785
		IRS NUMBER:				061798488
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS EX
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-199102
		FILM NUMBER:		17654022

	BUSINESS ADDRESS:	
		STREET 1:		3700 GLENWOOD AVENUE
		STREET 2:		SUITE 530
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27612
		BUSINESS PHONE:		9197194770

	MAIL ADDRESS:	
		STREET 1:		3700 GLENWOOD AVENUE
		STREET 2:		SUITE 530
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27612
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS EX
<SEQUENCE>1
<FILENAME>posexfeb2017stockoffering.htm
<DESCRIPTION>POS EX
<TEXT>
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<div><a name="s77F0523D25DC4B1C73EB805A2B779A1A"></a></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">As filed with the Securities and Exchange Commission on March 1, 2017</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Securities Act File No.&#160;333-199102</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;"><hr></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Washington, D.C. 20549</font></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;_________________________</font></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">Form&#160;N-2</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">REGISTRATION STATEMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">UNDER</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">THE SECURITIES ACT OF 1933</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:62.109375%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:92%;"></td><td style="width:4%;"></td><td style="width:4%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Pre-Effective Amendment No.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Post-Effective Amendment No.&#160;7</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#253;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">_______________________</font></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:24pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:24pt;font-weight:bold;">TRIANGLE CAPITAL CORPORATION</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Exact Name of Registrant as Specified in Charter)</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">______________________</font></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">3700 Glenwood Avenue, Suite&#160;530</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Raleigh, North Carolina 27612</font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Address of Principal Executive Officers)</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Registrant&#8217;s Telephone Number, Including Area Code:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(919)&#160;719-4770</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">E. Ashton Poole</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Chief Executive Officer</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">3700 Glenwood Avenue, Suite&#160;530</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Raleigh, North Carolina 27612</font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Name and Address of Agent For Service)</font></div><div style="line-height:120%;padding-top:5px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">______________________&#160;</font></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Copies to:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Steven B. Boehm,&#160;Esq.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Harry S. Pangas,&#160;Esq.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Payam Siadatpour, Esq.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Eversheds Sutherland (US) LLP</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">700 Sixth Street, NW, Suite 700</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Washington, DC 20001-3980</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Tel: (202)&#160;383-0100 Fax: (202)&#160;637-3593</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">______________________</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Approximate Date of Proposed Public Offering:</font><font style="font-family:inherit;font-size:10pt;">&#32;From time to time after the effective date of the Registration Statement.</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If any securities being registered on this form will be offered on a delayed or continuous basis in reliance on Rule&#160;415 under the Securities Act of 1933, other than securities offered in connection with a dividend reinvestment plan, check the following box.&#160;&#160;</font><font style="font-family:Wingdings;font-size:10pt;">&#253;</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;"><hr></div><div><br></div><hr style="page-break-after:always"><div><a name="s8C8A299C46C144967177805A2B9D99D5"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXPLANATORY NOTE</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Post-Effective Amendment No.&#160;7 to the Registration Statement on Form N-2 (File No.&#160;333-199102) of Triangle Capital Corporation is being filed pursuant to Rule 462(d) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), solely for the purpose of adding additional exhibits to such Registration Statement. Accordingly, this Post-Effective Amendment No.&#160;7 consists only of a facing page, this explanatory note and Part&#160;C of the Registration Statement on Form N-2. This Post-Effective Amendment No.&#160;7 does not change the form of prospectus relating to the Registration Statement on Form N-2 previously filed with the Securities and Exchange Commission ("SEC") and declared effective on April 18, 2016. Pursuant to Rule 462(d) under the Securities Act, this Post-Effective Amendment No.&#160;7 shall become effective immediately upon filing with the SEC.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></div><hr style="page-break-after:always"><div><a name="s1893582C1C4E0F5271DE805A2BC9A585"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PART C</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Information</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;25. Financial Statements and Exhibits.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:67px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:43px;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Statements</font></div></td></tr></table><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following financial statements of the Registrant are included in Part&#160;A of this Registration Statement:</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Audited Consolidated Financial Statements</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:95%;"></td><td style="width:5%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Page</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#sAFAED1F69783914A3FCC805A4B3E57E0"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Reports of Independent Registered Public Accounting Firm</font></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-1</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#s4D4351D046A53B323546805A4B4CDC2A"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Consolidated Balance Sheets as of December&#160;31, 2015 and 2014</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-3</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#s12C6C171668D70B604C6805A4B54D952"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Consolidated Statements of Operations for the years ended December&#160;31, 2015, 2014 and 2013</font></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-4</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#s45D708E25D3753807F2E805A4B5C3DD6"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Consolidated Statements of Changes in Net Assets for the years ended December&#160;31, 2015, 2014 and 2013</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-5</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#s7967FD1079D43FBFA0A7805A4B640A3C"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Consolidated Statements of Cash Flows for the years ended December&#160;31, 2015, 2014 and 2013</font></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-6</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#s5BC675958E31AEB2D987805A4B72A801"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Consolidated Schedule of Investments as of December&#160;31, 2015</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-7</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#sB266E1503D7723685752805A4B7ACDCC"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Consolidated Schedule of Investments as of December&#160;31, 2014</font></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-14</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#sBC9F443A0923C89F2B84805A4B824C6D"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Notes to Financial Statements</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-21</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#s3966DC6F0E58059C4082805A4B8A6309"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Report of Independent Registered Public Accounting Firm</font></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-43</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;" href="#sF6B841BC8A8EAA3D1BD7805A4B920E62"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Schedule of Investments in and Advances to Affiliates</font></a><font style="font-family:inherit;font-size:10pt;">&#160;for the Year Ended December 31, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F-44</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:67px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:43px;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Exhibits</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:7%;"></td><td style="width:93%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles of Amendment and Restatement of the Registrant (Incorporated by reference to Exhibit&#160;(a)(3) to the Registrant's Registration Statement on Form&#160;N-2/N-5, File No.&#160;333-138418, filed on December&#160;29, 2006)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fifth Amended and Restated Bylaws of the Registrant (Incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K, filed on November 9, 2015)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Common Stock Certificate (Incorporated by reference to Exhibit (d)&#160;to the Registrant's Post-Effective Amendment No.&#160;1 to the Registration Statement on Form&#160;N-2/N-5, File No.&#160;333-138418, filed on February&#160;15, 2007)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Subscription Certificate**</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(3)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Subscription Agent Agreement**</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(4)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Warrant Agreement**</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(5)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indenture, dated March 2, 2012 between the Registrant and the Bank of New York Mellon Trust Company, N.A. (Incorporated by reference to Exhibit (d)(5)&#160;to the Registrant's Post-Effective Amendment No.&#160;2 to the Registration Statement on Form&#160;N-2, File No.&#160;333-175160, filed on March 2, 2012)</font></div></td></tr></table></div><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:7%;"></td><td style="width:93%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(6)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Second Supplemental Indenture, dated October 19, 2012 between the Registrant and the Bank of New York Mellon Trust Company, N.A. (Incorporated by reference to Exhibit 4.1 to the Registrant&#8217;s Current Report on Form 8-K, filed on October&#160;19, 2012)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(7)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of 6.375% Senior Note due 2022 (Contained in the Second Supplemental Indenture filed as Exhibit 4.1 to the Registrant&#8217;s Current Report on Form 8-K, filed on October 19, 2012 and incorporated herein by reference)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(8)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Third Supplemental Indenture, dated February 6, 2015 between the Registrant and the Bank of New York Mellon Trust Company, N.A. (Incorporated by reference to Exhibit (d)(12) to the Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-2, filed on February 6, 2015)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(9)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of 6.375% Note due 2022 (Contained in the Third Supplemental Indenture filed as Exhibit (d)(12) to the Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-2, filed on February 6, 2015)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(10)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Preferred Stock Certificate**</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d)(11)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Statement of Eligibility on Form T-1 of The Bank of New York Mellon Trust Company, N.A. with respect to the indenture dated as of March 2, 2012***</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(e)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dividend Reinvestment Plan (Incorporated by reference to Exhibit&#160;4.2 to the Registrant&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2007, filed on March&#160;12, 2008)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(f)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Agreement to Furnish Certain Instruments (Incorporated by reference to Exhibit 4.19 to the Registrant&#8217;s Annual Report on Form 10-K for the year ended December 31, 2008, filed on February 25, 2009)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(g)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-1</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:7%;"></td><td style="width:93%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(h)(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Underwriting Agreement dated February 28, 2017 by and among Triangle Capital Corporation and the Underwriters named therein*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(h)(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Underwriting Agreement for Debt**</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i)(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Triangle Capital Corporation Non-employee Director Restricted Share Award Agreement (Incorporated by reference to Exhibit 10.2 to the Registrant&#8217;s Current Report on Form 8-K, filed on May 9, 2008)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i)(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Triangle Capital Corporation Executive Officer Restricted Share Award Agreement (Incorporated by reference to Exhibit 10.3 to the Registrant&#8217;s Annual Report on Form 10-K for the year ended December 31, 2010, filed on March 9, 2011)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i)(3)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Triangle Capital Corporation Amended and Restated Executive Deferred Compensation Plan (Incorporated by reference to Exhibit 10.2 to the Registrant&#8217;s Quarterly Report on Form 10-Q for the period ended September 30, 2016, filed on November 2, 2016)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i)(4)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Triangle Capital Corporation 2012 Cash Incentive Plan (Incorporated by reference to Exhibit 10.1 to the Registrant&#8217;s Current Report on Form 8-K, filed on May 2, 2012)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i)(5)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Triangle Capital Corporation Amended and Restated 2007 Equity Incentive Plan (Incorporated by reference to Exhibit&#160;10.1 to the Registrant&#8217;s Quarterly Report on Form 10-Q for the period ended September 30, 2016, filed on November 2, 2016)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(i)(6)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Agreement between Brent P.W. Burgess and the Registrant (Incorporated by reference to Exhibit 10.1 to the Registrant&#8217;s Current Report on Form 8-K, filed on October 18, 2016)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(j)(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Custody Agreement between the Registrant and Branch Banking and Trust Company dated June 20, 2014***</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(j)(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Custody Services Agreement between the Registrant and Fifth Third Bank dated January 6, 2012 (Incorporated by reference to Exhibit (j)(4) to Post-Effective Amendment No. 2 to the Registration Statement on Form N-2, File No. 333-175160, filed on March 2, 2012)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(k)(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock Transfer Agency Agreement between the Registrant and Computershare, Inc. (as successor to The Bank of New York) (Incorporated by reference to Exhibit 10.11 to the Registrant&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2007, filed on March&#160;12, 2008)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(k)(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Office Lease Agreement between 3700 Glenwood LLC and Triangle Capital Corporation dated March&#160;27, 2008 (Incorporated by reference to Exhibit&#160;(k)(6) to Pre-Effective Amendment No.&#160;1 to the Registration Statement on Form&#160;N-2, File No.&#160;333-151930, filed on August&#160;13, 2008)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(k)(3)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">First Amendment to Office Lease Agreement between the Registrant and 3700 Glenwood LLC, dated August 29, 2013 (Incorporated by reference to Exhibit 10.17 to the Registrant&#8217;s Annual Report on Form 10-K filed on February 26, 2014)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(k)(4)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Second Amendment to Office Lease Agreement between 3700 Glenwood LLC and Triangle Capital Corporation dated November 13, 2013 (Incorporated by reference to Exhibit 10.18 to the Registrant&#8217;s Annual Report on Form 10-K filed on February 26, 2014)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(k)(5)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Third Amended and Restated Credit Agreement, among the Registrant, Branch Banking and Trust Company, Fifth Third Bank, Morgan Stanley Bank, N.A., ING Capital LLC, Bank of North Carolina, Everbank Commercial Finance, Inc., First Tennessee Bank National Association, Newbridge Bank, Yadkin Bank, CommunityOne Bank, NA, Park Sterling Bank, Paragon Commercial Bank, Raymond James Bank, N.A. and Stifel Bank &amp; Trust, dated May 4, 2015 (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on May 6, 2015)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(k)(6)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Second Amended and Restated General Security Agreement between the Registrant, ARC Industries Holdings, Inc., Brantley Holdings, Inc., Energy Hardware Holdings, Inc., Minco Holdings, Inc., Peaden Holdings, Inc., Technology Crops Holdings, Inc. and Branch Banking and Trust Company dated May 4, 2015 (Incorporated by reference to Exhibit 10.3 to the Registrant&#8217;s Current Report on Form 8-K, filed on May 6, 2015)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(k)(7)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Second Amended and Restated Equity Pledge Agreement between the Registrant, ARC Industries Holdings, Inc., Brantley Holdings, Inc., Energy Hardware Holdings, Inc., Minco Holdings, Inc., Peaden Holdings, Inc. Technology Crops Holdings, Inc. and Branch Banking and Trust Company dated May 4, 2015 (Incorporated by reference to Exhibit 10.2 to the Registrant&#8217;s Current Report on Form 8-K, filed on May 6, 2015)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(l)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Opinion and Consent of Counsel*</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(m)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(n)(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consent of Ernst&#160;&amp; Young LLP, the independent registered public accounting firm for Registrant***</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(n)(2)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Report of Ernst&#160;&amp; Young LLP regarding the senior security table contained herein***</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(n)(3)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consent of Duff &amp; Phelps, LLC***</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(o)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(p)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Subscription and Investment Letter Agreement between the Registrant and Garland S. Tucker&#160;III (Incorporated by reference to Exhibit&#160;(p) to the Registration Statement on Form&#160;N-2/N-5, File&#160;No.&#160;333-138418, filed November&#160;3, 2006)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(q)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:7%;"></td><td style="width:93%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(r)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Triangle Capital Corporation Code of Business Conduct and Ethics (Incorporated by reference to Exhibit&#160;14.1 to the Registrant&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2010, filed on March&#160;9, 2011)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(s)(1)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Power of Attorney (Filed with this Registration Statement on February 4, 2016)</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Computation of Ratio of Earnings to Fixed Charges***</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.2</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of Preliminary Prospectus Supplement for Notes Offerings***</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Filed Herewith</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">**</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To be filed in a subsequent amendment.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">***</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Previously filed as an exhibit to this Registration Statement.</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-3</font></div></div><hr style="page-break-after:always"><div><a name="s2EE2BF746A0F74C7981E805A2BF56183"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;26. Marketing Arrangements.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The information contained under the heading &#8220;Plan of Distribution&#8221; on this Registration Statement is incorporated herein by reference and any information concerning any underwriters will be contained in the accompanying prospectus supplement.</font></div><div><a name="sF24AE4153D83F5F55E26805A28DBE9BB"></a></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;27. Other Expenses of Issuance and Distribution.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:15%;"></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SEC registration fee</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">58,100</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York Stock Exchange additional listing fee</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">200,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FINRA fee</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,500</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounting fees and expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Legal fees and expenses</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">500,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Printing and engraving</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">300,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Miscellaneous fees and expenses</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,000</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,218,600</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:58.3984375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:7%;"></td><td style="width:93%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Estimated for filing purposes.</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All of the expenses set forth above shall be borne by the Registrant.</font></div><div style="line-height:120%;padding-top:12px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="s9AE278D23216394313DF805A2C3E4EB6"></a></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;28. Persons Controlled By or Under Common Control.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Triangle Mezzanine Fund&#160;LLLP, a North Carolina limited liability limited partnership and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Triangle Mezzanine Fund II LP, a Delaware limited partnership and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Triangle Mezzanine Fund III LP, a Delaware limited partnership and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Triangle GP, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Triangle GP, LLC, a North Carolina limited liability company and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ARC Industries Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Brantley Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DCWV Acquisition Corporation, a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Emerald Waste Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Energy Hardware Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minco Holdings, Inc., a Delaware Corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Peaden Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SRC Worldwide, Inc., a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:40px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:16px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Technology Crops Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of the Registrant</font></div></td></tr></table><div style="line-height:120%;padding-top:12px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, Triangle Capital Corporation may be deemed to control certain portfolio companies. For a more detailed discussion of these entities, see &#8220;Portfolio Companies&#8221; in the prospectus.</font></div><div><a name="sBA05DF30812D9B382753805A2C7177D7"></a></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;29. Number of Holders of Securities.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table sets forth the number of record holders of the Registrant&#8217;s securities as of March 1, 2017:</font><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:81%;"></td><td style="width:18%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Title of Class</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number&#160;of</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Record</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Holders</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Common stock, $0.001 par value</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">61</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.375% Notes due (December) 2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.375% Notes due (March) 2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-4</font></div></div><hr style="page-break-after:always"><div><a name="s4986B799E44CC0EDF484805A2C95D24E"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;30. Indemnification.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Maryland law permits a Maryland corporation to include in its charter a provision limiting the liability of its directors and officers to the corporation and its stockholders for money damages except for liability resulting from (a)&#160;actual receipt of an improper benefit or profit in money, property or services or (b)&#160;active and deliberate dishonesty established by a final judgment as being material to the cause of action. Our charter contains such a provision that eliminates directors&#8217; and officers&#8217; liability to the maximum extent permitted by Maryland law, subject to the requirements of the 1940 Act.</font></div><div style="line-height:120%;padding-top:12px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our charter authorizes us, to the maximum extent permitted by Maryland law and subject to the requirements of the 1940 Act, to indemnify any present or former director or officer or any individual who, while a director or officer and at our request, serves or has served another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise as a director, officer, partner or trustee, from and against any claim or liability to which such person may become subject or which such person may incur by reason of his or her service in any such capacity, except with respect to any matter as to which he or she is finally adjudicated in any proceeding not to have acted in good faith in the reasonable belief that his or her action was in our best interest.</font></div><div style="line-height:120%;padding-top:12px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our bylaws obligate us, to the maximum extent permitted by Maryland law and subject to the requirements of the 1940 Act, to indemnify any present or former director or officer or any individual who, while a director or officer and at our request, serves or has served another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise as a director, officer, partner or trustee and who is made, or threatened to be made, a party to the proceeding by reason of his or her service in any such capacity from and against any claim or liability to which that person may become subject or which that person may incur by reason of his or her service in any such capacity. Our bylaws also require us, to the maximum extent permitted by Maryland law, without requiring a preliminary determination of the ultimate entitlement to indemnification, to pay or reimburse reasonable expenses incurred by any such indemnified person in advance of the final disposition of a proceeding.</font></div><div style="line-height:120%;padding-top:12px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Maryland law requires a corporation (unless its charter provides otherwise, which our charter does not) to indemnify a director or officer who has been successful in the defense of any proceeding to which he or she is made, or threatened to be made, a party by reason of his or her service in that capacity. Maryland law permits a corporation to indemnify its present and former directors and officers, among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to which they may be made, or threatened to be made, a party by reason of their service in those or other capacities unless it is established that (a)&#160;the act or omission of the director or officer was material to the matter giving rise to the proceeding and (1)&#160;was committed in bad faith or (2)&#160;was the result of active and deliberate dishonesty, (b)&#160;the director or officer actually received an improper personal benefit in money, property or services or (c)&#160;in the case of any criminal proceeding, the director or officer had reasonable cause to believe that the act or omission was unlawful. However, under Maryland law, a Maryland corporation may not indemnify for an adverse judgment in a suit by or in the right of the corporation or for a judgment of liability on the basis that a personal benefit was improperly received, unless in either case a court orders indemnification, and then only for expenses. In addition, Maryland law permits a corporation to advance reasonable expenses to a director or officer upon the corporation&#8217;s receipt of (a)&#160;a written affirmation by the director or officer of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification by the corporation and (b)&#160;a written undertaking by him or her or on his or her behalf to repay the amount paid or reimbursed by the corporation if it is ultimately determined that the standard of conduct was not met.</font></div><div style="line-height:120%;padding-top:12px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Registrant has obtained primary and excess insurance policies insuring our directors and officers against some liabilities they may incur in their capacity as directors and officers. Under such policies, the insurer, on the Registrant&#8217;s behalf, may also pay amounts for which the Registrant has granted indemnification to the directors or officers.</font></div><div><a name="s662A00F376198DB615B4805A2CC3A0E7"></a></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;31.</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Business and Other Connections of Investment Adviser.</font></div><div style="line-height:120%;padding-top:6px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><div><a name="s6C83BD516A3D7401D670805A2CE676EC"></a></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;32.</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Location of Accounts and Records.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All accounts, books and other documents required to be maintained by Section&#160;31(a) of the Investment Company Act of 1940, and the rules thereunder are maintained at the Registrant&#8217;s offices at 3700 Glenwood Avenue, Suite&#160;530, Raleigh, North Carolina 27612.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-5</font></div></div><hr style="page-break-after:always"><div><a name="s6F20414C112C5B29B06B805A2D189A50"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;33.</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Management Services.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not applicable.</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="s1892E7DA1AE1D2FC53A0805A2D3A98CF"></a></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;34.</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Undertakings.</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.&#160;We hereby undertake to suspend any offering of shares until the prospectus or prospectus supplement is amended if: (1)&#160;subsequent to the effective date of this registration statement, our net asset value declines more than 10 percent from our net asset value as of the effective date of this registration statement; or (2)&#160;our net asset value increases to an amount greater than our net proceeds (if applicable) as stated in the prospectus or prospectus supplement.</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.&#160;We hereby undertake:</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a.&#160;To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</font></div><div style="line-height:120%;padding-top:6px;text-indent:97px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1)&#160;To include any prospectus required by Section&#160;10(a)(3) of the 1933&#160;Act;</font></div><div style="line-height:120%;padding-top:6px;text-indent:97px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2)&#160;To reflect in the prospectus or prospectus supplement any facts or events after the effective date of this registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration statement;&#160;and</font></div><div style="line-height:120%;padding-top:6px;text-indent:97px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3)&#160;To include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">b.&#160;For the purpose of determining any liability under the 1933&#160;Act, that each such post-effective amendment to this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of those securities at that time shall be deemed to be the initial </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">bona fide</font><font style="font-family:inherit;font-size:10pt;">&#32;offering thereof.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">c.&#160;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">d. For the purpose of determining liability under the 1933&#160;Act to any purchaser, that if we are subject to Rule&#160;430C under the 1933&#160;Act: Each prospectus filed pursuant to Rule&#160;497(b), (c), (d)&#160;or (e)&#160;under the 1933&#160;Act as part of this registration statement relating to an offering shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Provided, however</font><font style="font-family:inherit;font-size:10pt;">, that no statement made in a registration statement or prospectus or prospectus supplement that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">e. For the purpose of determining liability of the Registrant under the 1933&#160;Act to any purchaser in the initial distribution of securities, that if the securities are offered or sold to such purchaser by means of any of the following communications, we will be a seller to the purchaser and will be considered to offer or sell such securities to the purchaser:</font></div><div style="line-height:120%;padding-top:6px;text-indent:97px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1)&#160;any preliminary prospectus or prospectus or prospectus supplement of us relating to the offering required to be filed pursuant to Rule&#160;497 under the 1933&#160;Act;</font></div><div style="line-height:120%;padding-top:6px;text-indent:97px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2)&#160;the portion of any advertisement pursuant to Rule&#160;482 under the 1933&#160;Act relating to the offering containing material information about us or our securities provided by or on behalf of us;&#160;and</font></div><div style="line-height:120%;padding-top:6px;text-indent:97px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3)&#160;any other communication that is an offer in the offering made by us to the purchaser.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">f. To file a post-effective amendment to the registration statement, and to suspend any offers or sales pursuant to the registration statement until such post-effective amendment has been declared effective under the 1933 Act, in the event the shares of the Registrant are trading below its net asset value and either (i)&#160;the Registrant receives, or has been advised by its independent registered accounting firm that it will receive, an audit report reflecting substantial doubt regarding the Registrant&#8217;s ability to continue as a going concern; or (ii)&#160;the Registrant has concluded that a material adverse change has occurred in its financial position or results of operations that has caused the financial statements and other disclosures on the basis of which the offering would be made to be materially misleading.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">g. In the event that the securities being registered are to be offered to existing shareholders pursuant to warrants or rights, and any securities not taken by shareholders are to be reoffered to the public, to supplement the prospectus, after the expiration of the subscription period, to set forth the results of the subscription offer, the transactions by underwriters during the subscription period, the amount of unsubscribed securities to be purchased by underwriters, and the terms of any subsequent reoffering thereof; and further, if any public offering by the underwriters of the securities being registered is to be made on </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-6</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">terms differing from those set forth on the cover page of the prospectus, to file a post-effective amendment to set forth the terms of such offering.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">h. To file a post-effective amendment containing a prospectus pursuant to Section&#160;8(c) of the Securities Act prior to any offering by the Company pursuant to the issuance of any units or rights to subscribe for shares below net asset value.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">i. 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To file, at the time of each offering of securities, appropriate legal opinions by post-effective amendment to the registration statement.</font></div><div style="line-height:120%;padding-top:6px;text-indent:65px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-7</font></div></div><hr style="page-break-after:always"><div><a name="sBF50710A686CD8772FBE805A2D6ACF45"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:24px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Act of 1933, the Registrant has duly caused this Post-Effective Amendment No. 7 to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Raleigh, and state of North Carolina, on March 1, 2017.</font><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:6%;"></td><td style="width:16%;"></td><td style="width:11%;"></td><td style="width:3%;"></td><td style="width:64%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="5" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">TRIANGLE CAPITAL CORPORATION</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ E. Ashton Poole</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Name:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">E. 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style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ E. 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Ashton Poole</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Steven C. Lilly</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chief Financial Officer,</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Secretary and Director</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Principal Financial Officer)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 1, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Steven C. 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Robert Knox, Jr.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td rowspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Controller (Principal Accounting Officer)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 1, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C. 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Goldstein</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Mark F. Mulhern</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 1, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mark F. Mulhern</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td rowspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 1, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Simon B. Rich, Jr.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td rowspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 1, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Sherwood H. Smith, Jr.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">*</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td rowspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Director</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 1, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mark M. 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Lilly</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 1, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Steven C. Lilly,<br>Attorney-in-fact</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">C-9</font></div></div>	</body>
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<DOCUMENT>
<TYPE>EX-99.(H)(1)
<SEQUENCE>2
<FILENAME>exhibith1ua20170228.htm
<DESCRIPTION>EXHIBIT 99.(H)(1)
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		<title>Exhibit</title>
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<div><a name="s5CBDB48400D47440E5E5805A298546E5"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit (h)(1)</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">TRIANGLE CAPITAL CORPORATION</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">7,000,000 Shares of Common Stock</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">UNDERWRITING AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">February 28, 2017</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Morgan Stanley &amp; Co. LLC</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">As Representative of the Underwriters</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">listed on Schedule A hereto</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1585 Broadway</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">New York, NY 10036</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Triangle Capital Corporation, a corporation established under the laws of Maryland (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), confirms its agreement with Morgan Stanley &amp; Co. LLC (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Morgan Stanley</font><font style="font-family:inherit;font-size:11pt;">&#8221;) as representative of the Underwriters named in Schedule A hereto (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Underwriters</font><font style="font-family:inherit;font-size:11pt;">,&#8221; which term shall also include any underwriter substituted as hereinafter provided in Section 9 hereof), with respect to the issue and sale by the Company of a total of 7,000,000 shares of common stock, par value $0.001 per share (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Initial Securities</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and the purchase by the Underwriters, acting severally and not jointly, of the respective numbers of Initial Securities set forth in said </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:11pt;">&#32;hereto, and with respect to the grant by the Company to the Underwriters, acting severally and not jointly, of the option described in Section 2(b) hereof to purchase up to 1,050,000 additional shares (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Optional Securities</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  The Initial Securities and Option Securities are hereinafter called, collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Securities</font><font style="font-family:inherit;font-size:11pt;">.&#8221; Certain terms used in this Agreement are defined in Section 16 hereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company understands that the Underwriters propose to make a public offering of the Securities as soon as the Underwriters deem advisable after this Agreement has been executed and delivered.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company owns (i) 99.9% of the limited partnership interests in Triangle Mezzanine Fund&#160;LLLP, a limited liability limited partnership established under the laws of North Carolina (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Fund&#160;I</font><font style="font-family:inherit;font-size:11pt;">&#8221;), (ii) 100% of the limited partnership interests in Triangle Mezzanine Fund II LP, a Delaware limited partnership (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Fund II</font><font style="font-family:inherit;font-size:11pt;">&#8221; ), (iii) 100% of the limited partnership interests in Triangle Mezzanine Fund III LP, a Delaware limited partnership (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Fund III</font><font style="font-family:inherit;font-size:11pt;">,&#8221; and together with Fund I and Fund II, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Funds</font><font style="font-family:inherit;font-size:11pt;">&#8221;), (iv) 100% of the equity interests of New Triangle GP, LLC, a North Carolina limited liability company and the general partner of Fund I (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">GP I</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and (v) 100% of the equity interests of New Triangle GP, LLC, a Delaware limited liability company and the general partner of Fund II and Fund III (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">GP II</font><font style="font-family:inherit;font-size:11pt;">,&#8221; and together with GP I, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">General Partners</font><font style="font-family:inherit;font-size:11pt;">&#8221;). The Company, the Funds and the General Partners are hereinafter referred to collectively as the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Triangle Entities</font><font style="font-family:inherit;font-size:11pt;">.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company has prepared and filed, pursuant to the 1933 Act, with the Commission a registration statement on Form N-2 (File number 333-199102), which registers the offer and sale of common stock, preferred stock, warrants, subscription rights, debt securities and units of the Company to be issued from time to time by the Company, including the Securities.  The Company filed a Form N-54A &#8220;Notification of Election to be Subject to Sections 55 through 65 of the 1940 Act Filed Pursuant to Section 54(a) of the 1940 Act&#8221; (File number 814-00733) with the Commission on November 3, 2006, under the 1940 Act.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The registration statement, as amended, initially filed with the Commission on October 1, 2014, including the exhibits and schedules thereto, at the time it initially became effective on January 14, 2015, and as thereafter amended by post-effective amendments No. 1 through 5 filed with the Commission on February 6, 2015, April 27, 2015, June 22, 2015, February&#160;4, 2016 and March 30, 2016, which post-effective amendments became effective on April 18, 2016, and as thereafter amended by post-effective amendment No. 6 filed with the Commission on July 27, 2016 solely for the purpose of adding additional exhibits to the registration statement, and including any </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">information contained in a prospectus subsequently filed with the Commission pursuant to Rule 497 under the 1933 Act with respect to the offer, issuance and/or sale of the Securities and deemed to be a part of the registration statement at the time of effectiveness pursuant to Rule 430C under the 1933 Act, and also including any Rule 462(b) Registration Statement filed pursuant to Rule 462(b) under the 1933 Act, is hereinafter referred to as the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Registration Statement</font><font style="font-family:inherit;font-size:11pt;">.&#8221; The prospectus, dated as of April 18, 2016 included in the Registration Statement at the time it became effective on April 18, 2016 is hereinafter referred to as the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Base Prospectus</font><font style="font-family:inherit;font-size:11pt;">.&#8221; The Base Prospectus, together with the preliminary prospectus supplement, dated February&#160;27, 2017, filed with the Commission pursuant to Rule 497 under the 1933 Act, is hereinafter referred to as the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Preliminary Prospectus</font><font style="font-family:inherit;font-size:11pt;">.&#8221; The Base Prospectus, together with the prospectus supplement to be filed with the Commission pursuant to Rule 497 and used to confirm sales of the Securities, is hereinafter referred to as the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Prospectus</font><font style="font-family:inherit;font-size:11pt;">.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Preliminary Prospectus, together with the information set forth on </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule&#160;B</font><font style="font-family:inherit;font-size:11pt;">&#32;hereto (which information the Underwriters have informed the Company is being conveyed orally by the Underwriters to prospective purchasers at or prior to the Underwriters&#8217; confirmation of sales of the Securities in the public offering) is hereinafter referred to as the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Disclosure Package</font><font style="font-family:inherit;font-size:11pt;">.&#8221;</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:8px;text-align:left;text-indent:24px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:72px;">Section 1.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Representations and Warranties</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Representations and Warranties by the Company</font><font style="font-family:inherit;font-size:11pt;">.  The Company represents and warrants to each Underwriter as of the date hereof, as of the Applicable Time, as of the Closing Time referred to in Section 2(c) hereof, and as of each Option Closing Time (if any) referred to in Section 2(b) hereof, and agrees with each Underwriter, as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(1)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Compliance with Registration Requirements</font><font style="font-family:inherit;font-size:11pt;">.  (i)  The Securities have been duly registered under the 1933 Act pursuant to the Registration Statement.  The Company meets the requirements for use of Form N-2 under the 1933 Act.  The Registration Statement has become effective under the 1933 Act, and no stop order suspending the effectiveness of the Registration Statement or the use of the Preliminary Prospectus or the Prospectus has been issued, and no proceedings for any such purpose, have been instituted or are pending or, to any Triangle Entity&#8217;s knowledge, are contemplated by the Commission, and any request on the part of the Commission for additional information with respect thereto has been complied with. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(ii)</font><font style="font-family:inherit;font-size:11pt;">At the respective times the Registration Statement, and any subsequent post-effective amendment thereto, became effective, at the Closing Time and as of each Option Closing Time (if any), the Registration Statement, and all amendments and supplements thereto, complied and will comply in all material respects with the requirements of the 1933 Act and the 1940 Act, and did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading.  Neither the Prospectus nor any amendment or supplement thereto, as of its date, at the time the Prospectus or any such amendment or supplement was issued, at the Closing Time and as of each Option Closing Time (if any), included or will include any untrue statement of a material fact or omitted or will omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.  The representations and warranties in this subsection shall not apply to statements in or omissions from the Registration Statement or Prospectus made in reliance upon and in conformity with information furnished to the Company by or on behalf of any Underwriter for use in the Registration Statement or Prospectus, it being understood and agreed that the only such information furnished to the Company in writing by the Underwriters consists of the information described in Section 6(b) hereof.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(iii)</font><font style="font-family:inherit;font-size:11pt;">The Disclosure Package as of the Applicable Time does not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.  The preceding sentence does not apply to statements in or omissions from the Disclosure Package based upon and in conformity with information relating to any Underwriter furnished to the Company in writing by any Underwriter or its representative expressly for use therein, it being understood and agreed that the only such information furnished by the Underwriters to the Company consists of the information described in Section 6(b) hereof.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(iv)</font><font style="font-family:inherit;font-size:11pt;">The Preliminary Prospectus when first filed under Rule 497 and as of its date complied in all material respects with the 1933 Act, and when filed by electronic transmission pursuant to </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">EDGAR (except as may be permitted by Regulation S-T under the 1933 Act), was substantially identical to the copy thereof delivered to the Underwriters for use in connection with this offering.  The Prospectus when first filed under Rule 497 and as of its date will comply in all material respects with the 1933 Act, and when filed by electronic transmission pursuant to EDGAR (except as may be permitted by Regulation S-T under the 1933 Act), will be substantially identical to the copy thereof delivered to the Underwriters for use in connection with this offering.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(v)</font><font style="font-family:inherit;font-size:11pt;">The Company&#8217;s registration statement on Form 8-A under the 1934 Act is effective.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(2)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Independent Registered Public Accounting Firm</font><font style="font-family:inherit;font-size:11pt;">.  Ernst &amp; Young LLP, who audited the financial statements and supporting schedules, if any, included in the Registration Statement, the Preliminary Prospectus and the Prospectus is an independent registered public accounting firm as required by all applicable provisions of the 1933 Act and the 1934 Act and the rules and regulations of the Public Company Accounting Oversight Board.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(3)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Financial Statements</font><font style="font-family:inherit;font-size:11pt;">.  The consolidated financial statements of the Company included in the Registration Statement, the Preliminary Prospectus and the Prospectus, together with the related schedules (if any) and notes thereto, present fairly the consolidated financial position of the Company at the dates indicated and the consolidated results of operations and consolidated cash flows of the Company for the periods specified; and all such financial statements have been prepared in conformity with GAAP applied on a consistent basis throughout the periods involved and comply with all applicable accounting requirements under the 1933 Act and the 1940 Act, except as may be expressly stated in the related notes thereto.  No other financial statements or supporting schedules are required to be included in the Registration Statement, the Preliminary Prospectus or the Prospectus.  The other financial and statistical information and data included in the Registration Statement, the Preliminary Prospectus and the Prospectus are accurately derived from such consolidated financial statements and the books and records of the Company and have been compiled on a basis consistent with the consolidated financial statements included in the Registration Statement, the Preliminary Prospectus and the Prospectus.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(4)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Expense Summary</font><font style="font-family:inherit;font-size:11pt;">.  The information set forth in the Registration Statement, the Preliminary Prospectus and the Prospectus in the Fee and Expenses Table has been prepared in accordance with the requirements of Form N-2 and to the extent estimated or projected, such estimates or projections are reasonably believed to be attainable and reasonably based.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(5)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">No Material Adverse Change</font><font style="font-family:inherit;font-size:11pt;">.  Since the respective dates as of which information is given in the Disclosure Package and the Prospectus, except as otherwise stated or contemplated therein, there has not been (i) any Material Adverse Effect or any development that could reasonably be expected to result in a Material Adverse Effect, (ii) any transaction entered into by any Triangle Entity that is material with respect to such Triangle Entity other than in the ordinary course of its business as described in the Preliminary Prospectus and the Prospectus, (iii) any liability or obligation, direct, indirect or contingent (including any off-balance sheet obligations), incurred by any Triangle Entity, that is material to such Triangle Entity and (iv) any dividend or distribution of any kind declared, paid or made by any Triangle Entity on any class of its capital shares, except for regular distributions paid or declared by the Company to its stockholders consistent with past practice or any other distributions described in the Disclosure Package and the Prospectus.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(6)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Good Standing</font><font style="font-family:inherit;font-size:11pt;">.  (i)  The Company has been duly incorporated, is validly existing as a corporation under the laws of Maryland and is in good standing under the laws of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Prospectus, and to enter into and perform its obligations under this Agreement and the Material Agreements (as hereinafter defined); and the Company is duly qualified to transact business and is in good standing under the laws of each jurisdiction which requires such qualification, except for such jurisdictions where failure to so qualify or to be in good standing would not, individually or in the aggregate, result in a Material Adverse Effect.  The Articles of Incorporation of the Company, as amended to date, are in full force and effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(ii)</font><font style="font-family:inherit;font-size:11pt;">Fund I has been duly organized, is validly existing as a limited liability limited partnership under the laws of North Carolina, and is in good standing under the laws of North Carolina, as amended, and the provisions of the North Carolina Revised Uniform Limited Partnership Act, as amended, with full </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Prospectus, and to enter into and perform its obligations under the Material Agreements to which it is a party. Each of Fund II and Fund III has been duly organized, is validly existing as a limited partnership under the laws of Delaware, and is in good standing under the laws of Delaware, as amended, and the provisions of the Delaware Revised Uniform Limited Partnership Act, as amended, with full power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Prospectus, and to enter into and perform its obligations under the Material Agreements to which it is a party. Each of the Funds is duly qualified to transact business and is in good standing under the laws of each jurisdiction which requires such qualification, except for such jurisdictions where failure to so qualify or to be in good standing would not, individually or in the aggregate, result in a Material Adverse Effect.  The Limited Partnership Agreement of each Fund, as amended to date, is in full force and effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(iii)</font><font style="font-family:inherit;font-size:11pt;">Each of GP I and GP II has been duly organized, is validly existing as a limited liability company and is in good standing under the laws of North Carolina and Delaware, respectively, with full power and authority to own, lease and operate its properties and to conduct its business as described in the Preliminary Prospectus and the Prospectus; and each General Partner is duly qualified to transact business and is in good standing under the laws of each jurisdiction which requires such qualification, except for such jurisdictions where the failure to qualify or to be in good standing would not, individually or in the aggregate, result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(7)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Subsidiaries; Portfolio Companies</font><font style="font-family:inherit;font-size:11pt;">.  The Company does not own, directly or indirectly, any shares of stock or any other equity or long-term debt securities of any corporation or other entity other than (i) 99.9% of the equity interests of Fund I, 100.0% of the equity interests in each of Fund II and Fund III and 100% of the equity interests of each of the General Partners, (ii) except for investments in shares of stock or other equity of long-term debt securities made subsequent to December&#160;31, 2016 in the aggregate amount of $65,000,000, those corporations and other entities described in the Company&#8217;s Schedules of Investments, as included in the Preliminary Prospectus and the Prospectus (each such corporation and/or other entity, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Portfolio Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and (iii) as disclosed in Exhibit 21.1 to the Company&#8217;s annual report on Form 10-K, as filed with the Commission on February 22, 2017. The Company or the Funds, as applicable, have duly authorized and executed enforceable agreements with respect to the investments listed in the Company&#8217;s Schedules of Investments, as included in the Preliminary Prospectus and the Prospectus.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(8)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Business Development Company Status</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Company and Fund I has duly elected to be regulated as a business development company (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">BDC</font><font style="font-family:inherit;font-size:11pt;">&#8221;) under the 1940 Act and has filed with the Commission, pursuant to Section 54(a) of the 1940 Act, a duly completed and executed Form N-54A (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">BDC Election</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  At the time each such BDC Election was filed with the Commission, it (i) contained all statements required to be stated therein in accordance with, and complied in all material respects with the requirements of, the 1940 Act, and (ii) did not include any untrue statement of material fact or omit to state a material fact necessary to make the statements therein not misleading.  Neither the Company nor Fund I has filed with the Commission any notice of withdrawal of such BDC Election pursuant to Section 54(c) of the 1940 Act.  Each BDC Election remains in full force and effect and, to the Company&#8217;s knowledge, no order of suspension or revocation of such election under the 1940 Act has been issued or proceedings therefore initiated or threatened by the Commission.  Neither Fund II nor Fund III is required to register as an investment company under the 1940 Act.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(9)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Officers and Directors</font><font style="font-family:inherit;font-size:11pt;">.  Except as disclosed in the Preliminary Prospectus and the Prospectus, no person is serving or acting as an officer, director or investment advisor of any Triangle Entity except in accordance with the applicable provisions of the 1940 Act.  Except as disclosed in the Registration Statement, the Preliminary Prospectus and the Prospectus, no director of any Triangle Entity is (i) an &#8220;interested person&#8221; (as defined in the 1940 Act) of such Triangle Entity or (ii) an &#8220;affiliated person&#8221; (as defined in the 1940 Act) of any Underwriter.  The Company has a majority of &#8220;independent&#8221; directors as required by the 1934 Act and the rules and regulations of the New York Stock Exchange.  For purposes of this Section 1(a)(9), the Company shall be entitled to reasonably rely on representations from such officers and directors.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(10)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Capitalization</font><font style="font-family:inherit;font-size:11pt;">.  The authorized, issued and outstanding capital stock of the Company is as set forth in the Preliminary Prospectus and in the Prospectus.  All issued and outstanding shares of common stock of the Company have been duly authorized and validly issued and are fully paid and non-assessable </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">(except as described in the Registration Statement, the Preliminary Prospectus and the Prospectus) and have been offered and sold or exchanged in compliance with all applicable laws (including, without limitation, federal and state securities laws); none of the outstanding shares of common stock of the Company were issued in violation of the preemptive or other similar rights of any securityholder of the Company.  All issued and outstanding interests of the Funds are owned directly or through a wholly owned subsidiary by the Company, free and clear of all liens, security interests, encumbrances, equities or claims.  No shares of preferred stock of the Company have been designated, offered, sold or issued, and no shares of preferred stock are currently outstanding.  The description of the Company&#8217;s equity incentive plans or arrangements, if any, and the awards or other rights granted thereunder, set forth in the Preliminary Prospectus and the Prospectus accurately and fairly presents the information required to be shown with respect to such plans, arrangements, awards and rights.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(11)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Authorization and Description of Securities</font><font style="font-family:inherit;font-size:11pt;">.  The Securities to be sold pursuant to this Agreement have been duly authorized by the Board of Directors of the Company and such Securities, when issued and delivered by the Company pursuant to this Agreement against payment of the consideration set forth herein, will be validly issued and fully paid and non-assessable.  The Securities conform in all material respects to all statements relating thereto contained in the Registration Statement, the Preliminary Prospectus and the Prospectus and such descriptions conform to the rights set forth in the instruments defining the same, to the extent such rights are set forth; and the issuance of the Securities is not subject to the preemptive or other similar rights of any securityholder of the Company.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(12)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Material Agreements</font><font style="font-family:inherit;font-size:11pt;">.  Each agreement required to be described in the Preliminary Prospectus and the Prospectus has been filed with the Commission (each such agreement, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Material Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221; and collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Material Agreements</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and attached or incorporated by reference as an exhibit to the Registration Statement and has been accurately and fully described in all material respects; provided, however, that the Company will file this Agreement, and incorporate by reference the Agreement between Brent P.W. Burgess and the Company, filed with the Commission on October&#160;18, 2016 as Exhibit 10.1 to the Company&#8217;s current report on Form 8-K,  the Company&#8217;s Amended and Restated 2007 Equity Incentive Plan, filed with the Commission on November 2, 2016 as Exhibit 10.1 to the Company&#8217;s quarterly report on Form 10-Q, and the Company&#8217;s Amended and Restated Executive Deferred Compensation Plan, filed with the Commission on November 2, 2016 as Exhibit 10.2 to the Company&#8217;s quarterly report on Form 10-Q, in a post-effective amendment to the Registration Statement pursuant to Rule 462(d).  No Triangle Entity has sent or received notice of, or otherwise communicated or received communication with respect to, termination of any Material Agreement, nor has any such termination been threatened by any person.  No Triangle Entity is a party to any employment agreements.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(13)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Power and Authority</font><font style="font-family:inherit;font-size:11pt;">.  The Company has full power and authority to execute, deliver and perform this Agreement.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(14)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Authorization of Agreements</font><font style="font-family:inherit;font-size:11pt;">.  This Agreement and the Material Agreements have each been duly authorized by all requisite action on the part of any Triangle Entity that is a party thereto, executed and delivered by such Triangle Entity, as of the dates noted therein, and complies in all material respects with all applicable provisions of the 1940 Act.  Assuming due authorization, execution and delivery by the other parties thereto, each such agreement constitutes a valid and binding agreement of such Triangle Entity, enforceable in accordance with its terms, except as rights to indemnity and contribution hereunder and thereunder may be limited by federal or state securities laws or principles of public policy and subject to the qualification that the enforceability of such Triangle Entity&#8217;s obligations hereunder and thereunder may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws relating to or affecting creditors&#8217; rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(15)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Defaults and Conflicts</font><font style="font-family:inherit;font-size:11pt;">.  No Triangle Entity is (i) in violation of its Organizational Documents, each as amended from time to time, (ii) in breach or default in the performance or observance of any obligation or the terms of any indenture, contract, lease, mortgage, note agreement, loan or credit agreement or other agreement, obligation, condition, covenant or instrument to which it is a party or by which it may be bound or to which its property or assets is subject (collectively, &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Agreements and Instruments</font><font style="font-family:inherit;font-size:11pt;">&#8221;) or (iii) in violation of any law, ordinance, administrative or governmental rule or regulation applicable to such Triangle Entity or of any decree of the Commission, any state securities commission, any foreign securities commission, any </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">national securities exchange, any arbitrator, any court or any other governmental, regulatory, self-regulatory or administrative agency or any official having jurisdiction over such Triangle Entity, except, with respect to clauses (ii) or (iii), to the extent that such breaches, defaults or violations would not, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(16)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Non-Contravention</font><font style="font-family:inherit;font-size:11pt;">.  The execution, delivery and performance of this Agreement, the consummation of the transactions contemplated herein and in the Registration Statement, the Preliminary Prospectus and the Prospectus (including the issuance and sale of the Securities and the use of the proceeds from the sale of the Securities as described in the Preliminary Prospectus and the Prospectus under the caption &#8220;Use of Proceeds&#8221;), and compliance by the Company with its obligations hereunder have been duly authorized by all necessary corporate action and do not and will not, whether with or without the giving of notice or passage of time or both, (i) conflict with or constitute a breach of, or default or Repayment Event (as defined herein) under, the Agreements and Instruments or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of any Triangle Entity pursuant to the terms of the Agreements and Instruments (except to the extent that such breaches, defaults or creations or impositions would not, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect), (ii) result in any violation of the provisions of the Organizational Documents of any Triangle Entity, in each case as amended from time to time, or (iii) result in any violation of any statute, law, rule, regulation, filing, judgment, order, injunction, writ or decree applicable to any Triangle Entity or any of its assets, properties or operations (except to the extent that such violations would not, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect).  As used herein, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Repayment Event</font><font style="font-family:inherit;font-size:11pt;">&#8221; means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder&#8217;s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by a Triangle Entity, as applicable.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(17)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Proceedings</font><font style="font-family:inherit;font-size:11pt;">.  There is no action, suit, proceeding, inquiry or investigation before or brought by any court or governmental, regulatory or self-regulatory agency or body, domestic or foreign, now pending, or, to the Company&#8217;s knowledge, threatened, against or affecting any Triangle Entity that is required to be disclosed in the Registration Statement, Preliminary Prospectus or the Prospectus (other than as disclosed therein), or that could reasonably be expected to result in a Material Adverse Effect, or that could reasonably be expected to materially and adversely affect the consummation of the transactions contemplated in this Agreement or the performance by the Company or any other Triangle Entity of its obligations under this Agreement or the Material Agreements, as applicable.  The aggregate of all pending legal or governmental proceedings to which any of the Triangle Entities is a party or of which any of their respective property or assets is the subject that are not described in the Registration Statement, Preliminary Prospectus or the Prospectus, including ordinary routine litigation incidental to the business of the Triangle Entities, could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(18)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Accuracy of Descriptions and Exhibits</font><font style="font-family:inherit;font-size:11pt;">.  The statements set forth under the headings &#8220;Capitalization,&#8221; &#8220;Risk Factors,&#8221; &#8220;Business Development Company and Regulated Investment Company Elections,&#8221; &#8220;Description of Our Capital Stock,&#8221; &#8220;Regulation&#8221; and &#8220;Material U.S. Federal Income Tax Considerations&#8221; in the Preliminary Prospectus and the Prospectus, and in Item 30 of the Registration Statement, insofar as such statements purport to summarize certain provisions of the 1940 Act, Maryland law, the SBA Regulations, the shares of common stock, the Company&#8217;s Organizational Documents, United States federal income tax law and regulations or legal conclusions with respect thereto, fairly and accurately summarize such provisions in all material respects; all descriptions in the Registration Statement, the Preliminary Prospectus and the Prospectus of any Triangle Entity documents are accurate in all material respects.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(19)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Further Requirements</font><font style="font-family:inherit;font-size:11pt;">.  No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any court or governmental authority or agency, domestic or foreign is necessary or required for the performance by the Company of its obligations under this Agreement in connection with the offering, issuance, sale or delivery of the Securities hereunder, or the consummation of the transactions contemplated by this Agreement, except such as have been already obtained under the 1933 Act, the 1940 Act and the 1934 Act, or as may be required under the rules and regulations of the Financial Industry Regulatory Authority, Inc. (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">FINRA</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the New York Stock Exchange or state securities laws.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(20)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Possession of Licenses and Permits</font><font style="font-family:inherit;font-size:11pt;">.  Each Triangle Entity has such valid and current licenses, permits, approvals, consents and authorizations of governmental or regulatory authorities (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">permits</font><font style="font-family:inherit;font-size:11pt;">&#8221;) as are necessary to own its property and to conduct its business in the manner described in the Preliminary Prospectus and the Prospectus, and no Triangle Entity has received any notice of proceedings relating to the revocation or modification of, or non-compliance with, any permits, and no event has occurred which allows or, after notice or lapse of time, would allow, revocation, modification or termination thereof or result in any other material impairment of the rights of any Triangle Entities under any such permit, subject in each case to such qualification as may be set forth in the Preliminary Prospectus and the Prospectus.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(21)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Small Business Investment Company Status</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Funds is licensed to operate as a Small Business Investment Company (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">SBIC</font><font style="font-family:inherit;font-size:11pt;">&#8221;) by the SBA.  Each of the Funds&#8217; respective SBIC license is in good standing with the SBA and no adverse regulatory findings contained in any examinations reports prepared by the SBA regarding either of the Funds are outstanding or unresolved.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(22)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">SBA Debentures</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Funds is eligible to sell securities guaranteed by the SBA in the amounts and on the terms described in the Preliminary Prospectus and the Prospectus.  Neither Fund I, Fund II nor Fund III is in default under the terms of any debenture which it has issued to the SBA for guaranty by the SBA or any other material monetary obligation.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(23)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Possession of Intellectual Property</font><font style="font-family:inherit;font-size:11pt;">.  The Triangle Entities own or possess, or can acquire on reasonable terms, adequate patents, patent rights, licenses, inventions, copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other intellectual property (collectively, &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Intellectual Property</font><font style="font-family:inherit;font-size:11pt;">&#8221;) necessary to carry on their business as described in the Preliminary Prospectus and the Prospectus.  The expected expiration of any of rights to such Intellectual Property would not result in a Material Adverse Effect.  The Triangle Entities have not received any notice or are not otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or circumstances which would render any Intellectual Property invalid or inadequate to protect the interest of the Triangle Entities therein, and which infringement or conflict (if the subject of any unfavorable decision, ruling or finding) or invalidity or inadequacy, individually or in the aggregate, would result in a Material Adverse Effect.  None of the Intellectual Property employed by the Triangle Entities has been obtained or is being used by the Triangle Entities in violation of any contractual obligation binding on any of the Triangle Entities or any of their respective officers, directors or employees or otherwise in violation of the rights of any person.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(24)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Distribution of Written Offering Material</font><font style="font-family:inherit;font-size:11pt;">.  The Company has not distributed and will not distribute any written offering material in connection with the offering and sale of the Securities other than the Preliminary Prospectus and the Prospectus, and such materials as may be approved by the Underwriters and comply with the requirements of Rule 482 under the 1933 Act.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(25)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Registration Rights</font><font style="font-family:inherit;font-size:11pt;">.  Except as disclosed in the Preliminary Prospectus and the Prospectus, there are no persons with registration rights or other similar rights to have any securities (debt, equity or otherwise) (i) registered pursuant to the Registration Statement or included in the offering contemplated by this Agreement or (ii) otherwise registered by the Triangle Entities under the 1933 Act or the 1940 Act.  There are no persons with &#8220;tag-along rights&#8221; or other similar rights to have any securities (debt or equity) included in the offering contemplated by this Agreement or sold in connection with the sale of Securities by the Company pursuant to this Agreement.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(26)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">New York Stock Exchange</font><font style="font-family:inherit;font-size:11pt;">.  The common stock of the Company is registered pursuant to Section 12(b) of the 1934 Act and is listed on the New York Stock Exchange.  The Company has taken no action designed to, or likely to have the effect of, terminating the registration of the common stock of the Company under the 1934 Act or delisting the common stock of the Company from the New York Stock Exchange, nor has the Company received any notification that the Commission or the New York Stock Exchange is contemplating terminating such registration or listing.  The Company has continued to satisfy, in all material respects, all New York Stock Exchange listing requirements.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(27)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">FINRA Matters</font><font style="font-family:inherit;font-size:11pt;">.  All of the information provided to the Underwriters or to counsel for the Underwriters by the Company and its officers and directors in connection with letters, filings or other supplemental information provided to FINRA pursuant to FINRA&#8217;s conduct rules is true, complete and correct.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(28)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Tax Returns</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Triangle Entities has filed all material tax returns that are required to be filed and have paid all taxes required to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing is due and payable, except for any such tax, assessment, fine or penalty that is currently being contested in good faith by appropriate actions and except for such taxes, assessments, fines or penalties the nonpayment of which would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.  The Company has made adequate charges, accruals and reserves in the applicable financial statements referred to in the Preliminary Prospectus and the Prospectus in respect of all federal, state and foreign income and franchise taxes for all periods as to which the tax liability of any of the Triangle Entities has not been finally determined.  The Company is not aware of any tax deficiency that has been or might be asserted or threatened against any Triangle Entities that could result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(29)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Partnership Tax</font><font style="font-family:inherit;font-size:11pt;">.  At all times from the date of its formation until February 21, 2007, Fund I was treated as a partnership for federal income tax purposes, and not as an association or publicly traded partnership taxable as a corporation.  As of and at all times from February&#160;22, 2007, Fund I has been a disregarded entity for federal income tax purposes.  As of and at all times from December 15, 2009, Fund II has been a disregarded entity for federal income tax purposes. As of and at all times from March 26, 2012, Fund III has been a disregarded entity for federal income tax purposes.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(30)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Subchapter M</font><font style="font-family:inherit;font-size:11pt;">.  The Company qualified to be treated as a regulated investment company (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">RIC</font><font style="font-family:inherit;font-size:11pt;">&#8221;) under Subchapter M of the Code for its taxable year ended December 31, 2013, and the Company is in compliance with the requirements of the Code necessary to continue to qualify as a RIC under the Code.  The Company intends to direct the investment of the net proceeds of the offering of the Securities and continue to conduct its activities in such a manner as to comply with the requirements of Subchapter M of the Code.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(31)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Insurance</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Company and Fund I maintain a joint directors and officers/errors and omissions insurance policy and fidelity bond that complies with the requirements of Rule 17g-1 under the 1940 Act.  Each Triangle Entity and its subsidiaries are insured for reasonable amounts by such insurance companies and in such amounts as are prudent and customary in the businesses in which they are engaged.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(32)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Accounting Controls and Disclosure Controls</font><font style="font-family:inherit;font-size:11pt;">.  (i)  Each of the Company (together with its subsidiaries) and Fund I maintains a system of internal control over financial reporting (as such term is defined in the rules and regulations promulgated under the 1934 Act) sufficient to provide reasonable assurances that (A) transactions are executed in accordance with management&#8217;s general or specific authorizations and with the investment objectives, policies and restrictions of the Company and Fund I, as applicable, and the applicable requirements of the 1940 Act and the Code; (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability and to maintain compliance with the applicable books and records requirements under the 1940 Act; (C) access to assets is permitted only in accordance with management&#8217;s general or specific authorization; and (D) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.  The Company&#8217;s auditors and the Audit Committee of the Board of Directors have been advised of (1) any known significant deficiencies in the design or operation of internal controls that could adversely affect the ability to record, process, summarize, and report financial data and (2) any known fraud, whether or not material, that involves management or other employees who have a role in the Company&#8217;s and the Fund&#8217;s respective internal control over financial reporting; and such deficiencies or fraud will not result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(ii)</font><font style="font-family:inherit;font-size:11pt;">Each of the Company and Fund I&#8217;s internal control over financial reporting is effective and neither the Company nor Fund I is aware of any material weakness in their internal control over financial reporting.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(iii)</font><font style="font-family:inherit;font-size:11pt;">The Company has established and maintains disclosure controls and procedures (as such term is defined in the rules and regulations promulgated under the 1934 Act), which are designed to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the Company&#8217;s principal executive officer and its principal financial officer by others within those </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">entities, particularly during the periods in which the periodic reports required under the 1934 Act are being prepared, and such disclosure controls and procedures are effective to perform the functions for which they were established.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(33)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Compliance with the Sarbanes-Oxley Act</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Company and Fund I is in compliance with the applicable provisions of the Sarbanes-Oxley Act and the rules and regulations promulgated in connection therewith, including Sections 302 and 906 related to certifications and Section 404.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(34)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Compliance with Laws</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Company and Fund I (i) has adopted and implemented written policies and procedures reasonably designed to prevent violation of the Federal Securities Laws (as that term is defined in Rule 38a-1 under the 1940 Act) by the Company or Fund I, as applicable, (ii) is conducting its business in compliance with all laws, rules, regulations, decisions, directives and orders except for such failure to comply which would not reasonably be expected to result in a Material Adverse Effect and (iii) is conducting its business in compliance in all material respects with the requirements of the SBA and the 1940 Act.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(35)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Investment Adviser Status</font><font style="font-family:inherit;font-size:11pt;">.  No Triangle Entity is currently subject to registration as an investment adviser under the Investment Advisers Act of 1940, as amended.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(36)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Stabilization</font><font style="font-family:inherit;font-size:11pt;">.  No Triangle Entity has taken nor after the date hereof will take, directly or indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities, and no Triangle Entity is aware of any such action taken or to be taken by any affiliates of such Triangle Entity.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(37)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Statistical, Demographic or Market-Related Data</font><font style="font-family:inherit;font-size:11pt;">.  Any statistical, demographic or market-related data included in the Registration Statement, the Preliminary Prospectus or the Prospectus is based on or derived from sources that the Company believes to be reliable and accurate and all such data included in the Registration Statement, the Preliminary Prospectus or the Prospectus accurately reflects the materials upon which it is based or from which it was derived.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(38)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Advertisements</font><font style="font-family:inherit;font-size:11pt;">.  All advertising, sales literature or other promotional material (including &#8220;prospectus wrappers,&#8221; &#8220;broker kits,&#8221; &#8220;road show slides&#8221; and &#8220;road show scripts&#8221;), whether in printed or electronic form, authorized in writing by or prepared by or at the direction of the Company for use in connection with the offering and sale of the Securities (collectively, &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">sales material</font><font style="font-family:inherit;font-size:11pt;">&#8221;) complied and comply in all material respects with the applicable requirements of the 1933 Act, the 1940 Act and the rules and interpretations of FINRA.  No sales material contained or contains an untrue statement of a material fact or omitted or omits to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(39)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Undisclosed Payments</font><font style="font-family:inherit;font-size:11pt;">.  Neither any Triangle Entity nor, to the Company&#8217;s knowledge, any employee or agent of any Triangle Entity has made any payment of funds of any Triangle Entity or received or retained any funds, which payment, receipt or retention of funds is of a character required to be disclosed in the Preliminary Prospectus or the Prospectus.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(40)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Investments</font><font style="font-family:inherit;font-size:11pt;">.  Except for those limitations of general application provided in the 1940 Act, the SBA Regulations and the Code, there are no material restrictions, limitations or regulations with respect to the ability of the Company or the Funds to invest their assets as described in the Preliminary Prospectus or the Prospectus.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(41)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">No Material Relationships with the Underwriters</font><font style="font-family:inherit;font-size:11pt;">.  Except as disclosed in the Preliminary Prospectus or the Prospectus, none of the Triangle Entities has any material lending or other relationship with a bank or lending institution affiliated with any of the Underwriters.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(42)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Lock-Up Agreements</font><font style="font-family:inherit;font-size:11pt;">.  The Company has obtained for the benefit of the Underwriters the agreement (a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Lock-Up Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), in the form set forth as </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule&#160;C</font><font style="font-family:inherit;font-size:11pt;">&#32;hereto, from all directors and executive officers of each of the Triangle Entities.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(43)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Payment of Dividends</font><font style="font-family:inherit;font-size:11pt;">.  None of the Triangle Entities or their respective subsidiaries is currently prohibited, directly or indirectly, from paying any dividends, from making any other </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">distribution on its capital stock or securities, from repaying any loans or advances or from transferring any of its property or assets, except as described in Preliminary Prospectus and the Prospectus and as may be limited by the 1940 Act or SBA Regulations of general applicability.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(44)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Environmental</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Triangle Entities (i) is in compliance with any and all applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants with respect to any property owned, leased, managed or operated by any Triangle Entity (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Environmental Laws</font><font style="font-family:inherit;font-size:11pt;">&#8221;), (ii) has received and is in compliance with all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses and (iii) has not received notice of any actual or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except where such non-compliance with Environmental Laws, failure to receive required permits, licenses or other approvals, or liability would not, individually or in the aggregate, result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(45)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">ERISA</font><font style="font-family:inherit;font-size:11pt;">.  Each of the Triangle Entities and its subsidiaries are in compliance in all material respects with all currently applicable provisions of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (herein called &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">ERISA</font><font style="font-family:inherit;font-size:11pt;">&#8221;).  No &#8220;reportable event&#8221; (as defined in ERISA) has occurred with respect to any &#8220;pension plan&#8221; (as defined in Section 3(2) ERISA) for which such Triangle Entity or any subsidiary would have any liability.  Such Triangle Entity and its subsidiaries have not incurred and do not expect to incur liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any &#8220;pension plan&#8221; or (ii) Sections 412 or 4971 of the Code.  Each &#8220;pension plan&#8221; for which any Triangle Entity or any subsidiary would have any liability that is intended to be qualified under Section 401(a) of the Code is so qualified and nothing has occurred, whether by action or by failure to act, that would reasonably be expected to cause the loss of such qualification.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(46)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Anti-Money Laundering</font><font style="font-family:inherit;font-size:11pt;">.  The operations of the Triangle Entities are and have been conducted at all times in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where any Triangle Entity conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Anti-Money Laundering Laws</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving any Triangle Entity with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(47)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Foreign Corrupt Practices Act Compliance</font><font style="font-family:inherit;font-size:11pt;">.  None of the Triangle Entities, or, to the knowledge of the Company, any director, officer, partner, manager, agent, employee, representative or affiliate of any Triangle Entity, has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything else of value, directly or indirectly, to any &#8220;government official&#8221; (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) to influence official action or secure an improper advantage; and each Triangle Entity has conducted its business in compliance with applicable anti-corruption laws and has instituted and maintain and will continue to maintain policies and procedures designed to promote and achieve compliance with such laws and with the representation and warranty contained herein.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(48)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">No Brokers or Finders</font><font style="font-family:inherit;font-size:11pt;">.  There is no broker, finder or other party that is entitled to receive from the Company or the Funds any brokerage or finder&#8217;s fee or other fee or commission as a result of any transactions contemplated by this Agreement, other than as contemplated herein.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(49)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">FINRA Affiliations</font><font style="font-family:inherit;font-size:11pt;">.  To the knowledge of the Company, there are no affiliations or associations (as such terms are defined by FINRA&#8217;s rules and regulations) between any member of FINRA and any of the Company&#8217;s directors and officers, except for Sherwood Smith, Mark M. Gambill and Benjamin S. Goldstein, </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">as previously disclosed to the Underwriters.  For purposes of this Section 1(a)(49), the Company shall be entitled to reasonably rely on representations from such officers and directors.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(50)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">OFAC</font><font style="font-family:inherit;font-size:11pt;">.  (i) None of the Triangle Entities or any of their subsidiaries or, to the knowledge of the Company, director, officer, partner, manager, agent, employee, representative or affiliate of any Triangle Entity, is an individual or entity (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Person</font><font style="font-family:inherit;font-size:11pt;">&#8221;) that is, or is owned or controlled by a Person that is:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(A)</font><font style="font-family:inherit;font-size:11pt;">the subject of any sanctions administered or enforced by the U.S. Department of Treasury&#8217;s Office of Foreign Assets Control (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">OFAC</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the United Nations Security Council (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">UNSC</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the European Union (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">EU</font><font style="font-family:inherit;font-size:11pt;">&#8221;), Her Majesty&#8217;s Treasury (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">HMT</font><font style="font-family:inherit;font-size:11pt;">&#8221;), or other relevant sanctions authority (collectively, &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Sanctions</font><font style="font-family:inherit;font-size:11pt;">&#8221;), or</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(B)</font><font style="font-family:inherit;font-size:11pt;">located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria).</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:156px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:36px;">(ii)</font><font style="font-family:inherit;font-size:11pt;">The Company will not, directly or indirectly, use the proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(A)</font><font style="font-family:inherit;font-size:11pt;">to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:192px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(B)</font><font style="font-family:inherit;font-size:11pt;">in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:156px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:36px;">(iii)</font><font style="font-family:inherit;font-size:11pt;">None of the Triangle Entities have knowingly engaged in, are now knowingly engaged in, and will engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Officers&#8217; Certificates</font><font style="font-family:inherit;font-size:11pt;">.  Any certificate signed by any officer of the Company and delivered to the Underwriters or to counsel for the Underwriters shall be deemed a representation and warranty by the Company to each Underwriter as to the matters covered thereby.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 2.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Sale and Delivery to Underwriters; Closing</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Initial Securities</font><font style="font-family:inherit;font-size:11pt;">.  On the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company agrees to sell to each Underwriter, severally and not jointly, and each Underwriter, severally and not jointly, agrees to purchase from the Company, at a purchase price of $18.90 per share (representing a public offering price of $19.50 per share, less an underwriting discount of $0.60 per share) (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Purchase Price</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the amount of Initial Securities set forth in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:11pt;">&#32;opposite such Underwriter&#8217;s name, plus any additional number of Initial Securities which such Underwriter may become obligated to purchase pursuant to the provisions of Section 9 hereof.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Optional Securities</font><font style="font-family:inherit;font-size:11pt;">.  Subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Company hereby grants an option to the several Underwriters to purchase, severally and not jointly, up to 1,050,000 Optional Securities at the Purchase Price (less the per share amount or value, as applicable, of any dividend or other distribution declared by the Company, the record date of which occurs during the period from the Closing Time through the Option Closing Time (as defined below) with respect thereto).  Said option may be exercised in whole or in part at any time and from time to time on or before the 30th day after the date of the Prospectus upon notice by the Underwriters to the Company setting forth the number of shares of the Optional Securities as to which the several Underwriters are exercising the option and the settlement time and date.  The number of Optional Securities to be purchased by each Underwriter shall be the same percentage of the total number of shares of the Optional Securities to be purchased by the several Underwriters as such Underwriter is purchasing of the Initial Securities, plus any additional number of Optional Securities which such Underwriter may become obligated to purchase pursuant to the provisions of Section 9 hereof, subject to such adjustments as you in your absolute discretion shall make to eliminate any fractional shares.  Any such time and date of delivery (an &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Option Closing Time</font><font style="font-family:inherit;font-size:11pt;">&#8221;) shall be determined by you, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(c)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Payment</font><font style="font-family:inherit;font-size:11pt;">.  Payment of the Purchase Price for, and delivery of certificates, if any, for the Initial Securities shall be made at the offices of Morrison &amp; Foerster LLP, 250 West 55th Street, New York, New York 10019 or at such other place as shall be agreed upon by the Underwriters and the Company, at 10:00 a.m. (Eastern time) on March 3, 2017 (unless postponed in accordance with the provisions of Section 9), or such other time not later than ten business days after such date as shall be agreed upon by the Underwriters and the Company (such time and date of payment and delivery being herein called &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Closing Time</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In addition, in the event that any or all of the Optional Securities are purchased by the Underwriters, payment of the Purchase Price for, and delivery of certificates, if any, for, such Optional Securities shall be made at the above-mentioned offices, or at such other place as shall be agreed upon by the Underwriters and the Company, on each Option Closing Time as specified in the notice from the Underwriters to the Company.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Delivery of the Securities shall be made to the Underwriters for the respective accounts of the several Underwriters against payment by the several Underwriters of the Purchase Price thereof to or upon the order of the Company by wire transfer payable in same-day funds to an account designated by the Company.  Delivery of the Initial Securities and the Optional Securities shall be made through the facilities of The Depository Trust Company, unless the Underwriters shall otherwise instruct.  Morgan Stanley, individually and not as a representative of the Underwriters, may (but shall not be obligated to) make payment of the Purchase Price for the Initial Securities or the Optional Securities, if any, to be purchased by any Underwriter whose funds have not been received by the Closing Time or the relevant Option Closing Time, as the case may be, but such payment shall not relieve such Underwriter from its obligations hereunder.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(d)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Denominations; Registration</font><font style="font-family:inherit;font-size:11pt;">.  Certificates for the Initial Securities and the Optional Securities, if any, shall be in such denominations and registered in such names as the Underwriters may request in writing at least one full business day before the Closing Time or the relevant Option Closing Time, as the case may be.  The certificates, if any, for the Initial Securities and the Optional Securities, if any, will be made available for examination and packaging by the Underwriters in New York, New York not later than noon (Eastern time) on the business day prior to the Closing Time or the relevant Option Closing Time, as the case may be.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 3.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Covenants of the Company</font><font style="font-family:inherit;font-size:11pt;">.  The Company covenants with each Underwriter as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Compliance with Securities Regulations and Commission Requests</font><font style="font-family:inherit;font-size:11pt;">.  The Company, subject to Section 3(a)(ii), will comply with the requirements of the 1933 Act, including Rule 430C thereunder, and will notify the Underwriters immediately, and confirm the notice in writing, (i) when any post-effective amendment to the Registration Statement shall become effective, the Prospectus or any amendment or supplement thereto shall have been filed, or any amendment or supplement to the Preliminary Prospectus shall have been filed, (ii) of the receipt of any comments from the Commission, (iii) of any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Preliminary Prospectus or the Prospectus or for additional information, (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any order preventing or suspending the use of the Preliminary Prospectus or the Prospectus, or of the suspension of the qualification of the Securities for offering or sale in any jurisdiction, or of the initiation or threatening of any proceedings for any of such purposes, and (v) if the Company becomes the subject of a proceeding under Section 8A of the 1933 Act in connection with the offering of the Securities.  The Company will promptly effect the filings required by Rule 497 and will take such steps as they deem necessary to ascertain promptly whether the form of prospectus transmitted for filing under Rule 497 was received for filing by the Commission and, in the event that it was not, it will promptly file such prospectus.  The Company will make every reasonable effort to prevent the issuance of any stop order, or order of suspension or revocation of registration, and, if any such stop order or order of suspension or revocation of registration is issued, to obtain the lifting or withdrawal thereof at the earliest possible moment.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Filing of Amendments</font><font style="font-family:inherit;font-size:11pt;">.  The Company will give the Underwriters notice of its intention to file or prepare any amendment to the Registration Statement (including any Rule 462(b) Registration Statement) or any amendment, supplement or revision to either the prospectus included in the Registration Statement at the time it became effective or to the Preliminary Prospectus or the Prospectus or will furnish the Underwriters with copies of any such documents within a reasonable amount of time prior to such proposed filing or use, as the case may be, </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">and will not file or use any such document to which the Underwriters or counsel for the Underwriters shall reasonably object.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(c)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Delivery of Registration Statements</font><font style="font-family:inherit;font-size:11pt;">.  At the request of the Underwriters, the Company will furnish or deliver to the Underwriters and counsel for the Underwriters, without charge, signed copies of the Registration Statement as originally filed and of each amendment thereto (including exhibits filed therewith or incorporated by reference therein) and signed copies of all consents and certificates of experts, and will also deliver to the Underwriters, without charge, a conformed copy of the Registration Statement as originally filed and of each amendment thereto (without exhibits) for each of the Underwriters, during the time period when the Underwriters are required to deliver the Prospectus.  The copies of the Registration Statement and each amendment thereto furnished to the Underwriters will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(d)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Delivery of Prospectuses</font><font style="font-family:inherit;font-size:11pt;">.  The Company has delivered to each Underwriter, without charge, as many copies of the Preliminary Prospectus as such Underwriter reasonably requested, and the Company hereby consents to the use of such copies for purposes permitted by the 1933 Act.  The Company will furnish to each Underwriter, without charge, during the period when the Prospectus is required to be delivered under the 1933 Act or the 1934 Act, such number of copies of any amendments or supplements to the Preliminary Prospectus prepared on or after the date of this Agreement and the Prospectus (and any amendments or supplements thereto) as such Underwriter may reasonably request.  The Preliminary Prospectus and the Prospectus and any amendments or supplements thereto furnished to the Underwriters is or will be, as the case may be, identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(e)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Continued Compliance with Securities Laws</font><font style="font-family:inherit;font-size:11pt;">.  The Company will comply, and will cause Fund I to comply, with the 1933 Act and the 1940 Act (including the requirements for qualification as a BDC) so as to permit the completion of the distribution of the Securities as contemplated in this Agreement and in the Preliminary Prospectus and the Prospectus.  If at any time when the Prospectus is required by the 1933 Act to be delivered in connection with sales of the Securities (including, without limitation, pursuant to Rule 172), any event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for the Underwriters or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the Prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or if it shall be necessary, in the opinion of such counsel, at any such time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the 1933 Act or the 1940 Act, the Company will promptly prepare and file with the Commission, subject to Section 3(b) hereof, such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the Company will furnish to the Underwriters such number of copies of such amendment or supplement as the Underwriters may reasonably request.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(f)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendments or Supplements to the Disclosure Package</font><font style="font-family:inherit;font-size:11pt;">.  If there occurs an event or development as a result of which the Disclosure Package would include an untrue statement of a material fact or would omit to state a material fact necessary in order to make the statements therein, in light of the circumstances then prevailing, not misleading, the Company will promptly notify the Underwriters so that any use of the Disclosure Package may cease until it is amended or supplemented (at the sole cost and expense of the Company).</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(g)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Blue Sky Qualifications</font><font style="font-family:inherit;font-size:11pt;">.  The Company will use its best efforts, in cooperation with the Underwriters, to qualify the Securities for offering and sale under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Underwriters may designate and to maintain such qualifications in effect so long as required for the distribution of the Securities; </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:11pt;">, </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:11pt;">, that the foregoing shall not apply to the extent that the securities are &#8220;covered securities&#8221; that are exempt from state regulation pursuant to Section 18 of the 1933 Act.  Notwithstanding the foregoing, the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(h)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Rule 158</font><font style="font-family:inherit;font-size:11pt;">.  The Company will timely file such reports pursuant to the 1934 Act as are necessary in order to make generally available to their securityholders as soon as practicable an earnings statement for the purposes of, and to provide to the Underwriters the benefits contemplated by, the last paragraph of Section 11(a) of the 1933 Act.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(i)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Use of Proceeds</font><font style="font-family:inherit;font-size:11pt;">.  The Company will use the net proceeds received by it from the sale of the Securities in the manner specified in the Preliminary Prospectus and the Prospectus under &#8220;Use of Proceeds.&#8221; The proceeds will not be used by any Triangle Entity to purchase, hold or carry margin securities as defined in, or in violation of, Board of Governors of the Federal Reserve System Regulations T, U or X.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(j)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Listing</font><font style="font-family:inherit;font-size:11pt;">.  The Company will use its reasonable best efforts to cause the Securities to be duly authorized for listing by the New York Stock Exchange prior to the date the Securities are issued.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(k)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Restriction on Sale of Securities</font><font style="font-family:inherit;font-size:11pt;">.  During the period beginning from the date hereof and continuing to and including the date 30 days from the date of the Prospectus (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Lock-Up Period</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the Company will not, and will cause each of the other Triangle Entities to not, without the prior written consent of Morgan Stanley, (A) directly or indirectly, offer, pledge, sell, contract to sell, sell any option, rights or warrant to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of common stock of the Company or any securities convertible into or exercisable or exchangeable for common stock of the Company or file any registration statement under the 1933 Act with respect to any of the foregoing or (B) enter into any swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of the common stock of the Company, whether any such swap or transaction described in clause (A) or (B) above is to be settled by delivery of common stock of the Company or such other securities, in cash or otherwise.  The restrictions in this Section shall not apply to (i) the Securities to be sold hereunder or (ii) common stock issued or, for avoidance of doubt, purchased in the open market pursuant to the Company&#8217;s dividend reinvestment plan as described in the Disclosure Package or in connection with grants awarded under the Company&#8217; Amended and Restated 2007 Equity Incentive Plan, in each case in the ordinary course consistent with past practice.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(l)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Reporting Requirements</font><font style="font-family:inherit;font-size:11pt;">.  The Company, during the period when the Prospectus is required to be delivered under the 1933 Act or the 1934 Act, will file, and will cause Fund I to file, all documents required to be filed with the Commission pursuant to the 1933 Act, the 1940 Act or the 1934 Act within the time periods required by the 1933 Act, the 1940 Act, the 1934 Act and the rules and regulations of the Commission thereunder.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(m)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Entity Taxation</font><font style="font-family:inherit;font-size:11pt;">.  The Company will use its best efforts to comply with the requirements of Subchapter M of the Code to continue to qualify as a RIC under the Code.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(n)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Stabilization</font><font style="font-family:inherit;font-size:11pt;">.  The Company will not take, and will cause each of the other Triangle Entities to not take, directly or indirectly, any action designed to cause or result in, or that would constitute or may reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(o)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Continued Compliance with SBA Requirements</font><font style="font-family:inherit;font-size:11pt;">.  The Company will use its best efforts to cause each of the Funds to continue to comply with the requirements of the SBA and meet their obligations as SBICs licensed by the SBA.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 4.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Payment of Expenses</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Expenses</font><font style="font-family:inherit;font-size:11pt;">.  The Company will pay all expenses incident to the performance of its obligations under this Agreement, including (i) the preparation, printing (or reproduction) and filing with the Commission of the Registration Statement (including financial statements and exhibits), each Preliminary Prospectus and the Prospectus, and each amendment or supplement (as applicable) to any of them, (ii) the printing (or reproduction) and delivery to the Underwriters (including postage, air freight charges and charges for counting and packaging) of such copies of the Registration Statement (including financial statements and exhibits), each Preliminary Prospectus and the Prospectus, and each amendment or supplement (as applicable) to any of them, as may be reasonably requested for use in connection with the offering, purchase, sale, issuance or delivery of the Securities, and such other documents as may be required in connection therewith, (iii) the preparation, issuance and delivery of any certificates for the Securities to the Underwriters, including any stock or other transfer taxes and any </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">stamp or other duties payable upon the sale, issuance or delivery of the Securities to the Underwriters, (iv) the fees and disbursements of Company&#8217;s Counsel (as hereinafter defined), the independent registered public accounting firm and any other advisors to the Company, (v) the qualification of the Securities under securities laws in accordance with the provisions of Section 3(g) hereof, including filing fees and fees in connection with the preparation of any Blue Sky Survey and any supplements thereto, (vi) the preparation, printing and delivery to the Underwriters of copies of any Blue Sky Survey and any supplements thereto, (vii) the fees and expenses of the transfer agent and registrar for the Securities, (viii) the filing fees of the Commission and any state agency with respect to the Securities, (ix) the fees and expenses incurred in connection with the listing of the Securities on the New York Stock Exchange, (x) the filing fees incident to any required review by FINRA, and (xi) all other Company costs and expenses incident to the performance by the Company of its obligations hereunder.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Termination of Agreement</font><font style="font-family:inherit;font-size:11pt;">.  If this Agreement is terminated by the Underwriters in accordance with the provisions of Section 5 or Section 8(a) hereof, the Company agrees that it shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 5.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Conditions of Underwriters&#8217; Obligations</font><font style="font-family:inherit;font-size:11pt;">.  The obligations of the several Underwriters hereunder shall be subject to the accuracy of the representations and warranties of the Company contained in Section 1 hereof as of the Applicable Time, the Closing Time and any Option Closing Time pursuant to Section 2 hereof, to the accuracy of the statements of the Company made in any certificates delivered pursuant to the provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Effectiveness of Registration Statement</font><font style="font-family:inherit;font-size:11pt;">.  The Registration Statement, including any Rule 462(b) Registration Statement, shall be effective and at the Closing Time (or the applicable Option Closing Time, as the case may be) no stop order suspending the effectiveness of the Registration Statement shall have been issued under the 1933 Act, no notice or order objecting to its use shall have been issued, no proceedings with respect to either shall have been initiated or, to the knowledge of the Company, Company&#8217;s Counsel and counsel to the Underwriters, threatened by the Commission, and any request on the part of the Commission for additional information shall have been complied or waived with to the reasonable satisfaction of counsel to the Underwriters.  The Prospectus containing the Rule 430C Information shall have been filed with the Commission in accordance with Rule 497.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Opinions of Triangle Entities&#8217; Counsel</font><font style="font-family:inherit;font-size:11pt;">.  At the Closing Time, the Underwriters shall have received the favorable opinions, dated as of the Closing Time, of Eversheds Sutherland (US) LLP and Pepper Hamilton LLP, special counsel with regard to SBA-related matters (collectively, &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Company&#8217;s Counsel</font><font style="font-family:inherit;font-size:11pt;">&#8221;), in form and substance satisfactory to counsel for the Underwriters, together with signed or reproduced copies of such letters for each of the other Underwriters, to such further effect as counsel to the Underwriters may reasonably request.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(c)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Opinion of Counsel for the Underwriters</font><font style="font-family:inherit;font-size:11pt;">.  At the Closing Time, the Underwriters shall have received the favorable opinion, dated as of the Closing Time, of Morrison &amp; Foerster LLP, counsel for the Underwriters.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(d)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Closing Certificates</font><font style="font-family:inherit;font-size:11pt;">.  At the Closing Time, there shall not have been, since the date hereof or since the respective dates as of which information is given in the Preliminary Prospectus or the Prospectus (exclusive of any amendments or supplements thereto subsequent to the date of this Agreement), any event that would have a Material Adverse Effect, and, at the Closing Time, the Underwriters shall have received certificates of the Chief Financial Officer or Chief Accounting Officer of the Company, dated as of the Closing Time, to the effect that (i) there has been no such Material Adverse Effect, (ii) the representations and warranties of the Company in this Agreement are true and correct with the same force and effect as though expressly made at and as of the Closing Time, (iii) the Company has complied with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to this Agreement at or prior to the Closing Time, and (iv) no stop order suspending the effectiveness of the Registration Statement, or order of suspension or revocation of registration, has been issued and no proceedings for any such purpose have been instituted or are pending or, to the Company&#8217;s knowledge, threatened by the Commission.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(e)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Independent Registered Public Accounting Firm&#8217;s Comfort Letter</font><font style="font-family:inherit;font-size:11pt;">.  At the time of the execution of this Agreement, the Underwriters shall have received from Ernst &amp; Young LLP a letter dated such date, in form and substance satisfactory to the Underwriters, together with signed or reproduced copies of such letter for each of the other Underwriters, containing statements and information of the type ordinarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements and certain financial information contained in the Registration Statement, the Preliminary Prospectus and the Prospectus.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(f)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Bring-down Comfort Letter</font><font style="font-family:inherit;font-size:11pt;">.  At the Closing Time, the Underwriters shall have received from Ernst &amp; Young LLP a letter dated as of the Closing Time, in form and substance satisfactory to the Underwriters, to the effect that they reaffirm the statements made in the letter furnished pursuant to subsection (e) of this Section, except that the specified date referred to shall be a date not more than three business days prior to the Closing Time.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(g)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Approval of Listing</font><font style="font-family:inherit;font-size:11pt;">.  At the Closing Time, the Securities shall have been approved for listing on the New York Stock Exchange, subject only to official notice of issuance.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(h)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">No Objection</font><font style="font-family:inherit;font-size:11pt;">.  FINRA shall have confirmed in writing that it has raised no objection with respect to the fairness and reasonableness of the underwriting terms and arrangements.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(i)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Lock-Up Agreements</font><font style="font-family:inherit;font-size:11pt;">.  At the time of the execution of this Agreement, the Company shall have procured for the benefit of the Underwriters lock-up agreements, in the form of </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule&#160;C</font><font style="font-family:inherit;font-size:11pt;">&#32;attached hereto, from all directors and executive officers of each of the Triangle Entities.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(j)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Conditions to Purchase of Optional Securities</font><font style="font-family:inherit;font-size:11pt;">.  In the event that the Underwriters exercise their option provided in Section 2(b) hereof to purchase all or any portion of the Optional Securities, the obligations of the several Underwriters to purchase the applicable Optional Securities shall be subject to the conditions specified in the introductory paragraph of this Section 5 and to the further condition that, at the applicable Option Closing Time, the Underwriters shall have received:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(1)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Closing Certificates</font><font style="font-family:inherit;font-size:11pt;">.  Certificates, dated such Option Closing Time, to the effect set forth in Section 5(d) hereof, and signed by the Chief Financial Officer or Chief Accounting Officer of the Company, except that the references in such certificate to the Closing Time shall be changed to refer to such Option Closing Time.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(2)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Opinions of Triangle Entities&#8217; Counsel</font><font style="font-family:inherit;font-size:11pt;">.  The favorable opinions of Company&#8217;s Counsel, in form and substance satisfactory to counsel for the Underwriters, dated such Option Closing Time, relating to the Optional Securities to be purchased on such Option Closing Time and otherwise to the same effect as the opinion required by Section 5(b) hereof.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(3)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Opinion of Counsel for the Underwriters</font><font style="font-family:inherit;font-size:11pt;">.  The favorable opinion of Morrison &amp; Foerster LLP, counsel for the Underwriters, dated such Option Closing Time, relating to the Optional Securities to be purchased on such Option Closing Time and otherwise to the same effect as the opinion required by Section 5(c) hereof.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:144px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(4)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Bring-down Comfort Letter</font><font style="font-family:inherit;font-size:11pt;">.  A letter from Ernst &amp; Young LLP, in form and substance satisfactory to the Underwriters and dated such Option Closing Time, substantially in the same form and substance as the letter furnished to the Underwriters pursuant to Section 5(f) hereof, except that the &#8220;specified date&#8221; in the letter furnished pursuant to this paragraph shall be a date not more than five days prior to such Option Closing Time.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(k)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Additional Documents</font><font style="font-family:inherit;font-size:11pt;">.  At the Closing Time and at each Option Closing Time, counsel for the Underwriters shall have been furnished with such documents and opinions as they may require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement; and all proceedings taken by the Company in connection with the issuance and sale of the Securities as herein contemplated, and in connection with the other transactions contemplated by this Agreement, shall be satisfactory in form and substance to the Underwriters and counsel for the Underwriters.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(l)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Delivery of Documents</font><font style="font-family:inherit;font-size:11pt;">.  The documents required to be delivered by this Section 5 shall be delivered at the office of Morrison &amp; Foerster LLP, 250 West 55th Street, New York, New York 10019, on the Closing Time and at each Option Closing Time.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(m)</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Termination of Agreement</font><font style="font-family:inherit;font-size:11pt;">.  If any condition specified in this Section 5 shall not have been fulfilled when and as required to be fulfilled, this Agreement, or, in the case of any condition to the purchase of Optional Securities, on an Option Closing Time which is after the Closing Time, the obligations of the several Underwriters to purchase the relevant Optional Securities, may be terminated by the Underwriters by notice to the Company at any time at or prior to the Closing Time or such Option Closing Time, as the case may be, and such termination shall be without liability of any party to any other party except as provided in Section 4 and except that Sections 1, 6, 7 and 11 shall survive any such termination and remain in full force and effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 6.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Indemnity and Contribution</font><font style="font-family:inherit;font-size:11pt;">.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;">The Company agrees to indemnify and hold harmless each Underwriter, its partners, directors, officers and employees, and each person, if any, who controls any Underwriter within the meaning of either Section 15 of the 1933 Act or Section 20 of the 1934 Act and each affiliate of any Underwriter within the meaning of Rule 405 under the 1933 Act who has participated or alleged to have participated in the distribution of the Securities from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Disclosure Package or any amendment or supplement thereto, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the 1933 Act, any &#8220;road show&#8221; as defined in Rule 433(h) under the 1933 Act (a &#8220;road show&#8221;), or the Prospectus or any amendment or supplement thereto, or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;">Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors, its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the 1933 Act or Section 20 of the 1934 Act to the same extent as the foregoing indemnity from the Company to such Underwriter, but only with reference to information relating to such Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement, any preliminary prospectus, the Disclosure Package, road show, or the Prospectus or any amendment or supplement thereto.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(c)</font><font style="font-family:inherit;font-size:11pt;">In case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 6(a) or 6(b), such person (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">indemnified party</font><font style="font-family:inherit;font-size:11pt;">&#8221;) shall promptly notify the person against whom such indemnity may be sought (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">indemnifying party</font><font style="font-family:inherit;font-size:11pt;">&#8221;) in writing and the indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding.  In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.  It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified parties and that all such fees and expenses shall be reimbursed as they are incurred.  Such firm shall be designated in writing by Morgan Stanley, in the case of parties indemnified pursuant to Section 6, and by the Company, in the case of parties indemnified pursuant to Section 6(b).  The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment.  Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement.  No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(d)</font><font style="font-family:inherit;font-size:11pt;">To the extent the indemnification provided for in Section 6(a) or 6(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other hand from the offering of the Securities pursuant to this Agreement or (ii) if the allocation provided by clause 6(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause 6(d)(i) above but also the relative fault of the Company on the one hand and of the Underwriters on the other hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations.  The relative benefits received by the Company on the one hand and the Underwriters on the other hand in connection with the offering of the Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the net proceeds from the offering of the Securities (before deducting expenses) received by the Company and the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover of the Prospectus, bear to the aggregate initial public offering price of the Securities as set forth on the cover.  The relative fault of the Company on the one hand and the Underwriters on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriters and the parties&#8217; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.  The Underwriters&#8217; respective obligations to contribute pursuant to this Section 6 are several in proportion to the respective number of Securities they have purchased hereunder, and not joint.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(e)</font><font style="font-family:inherit;font-size:11pt;">The Company and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 6 were determined by </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">pro rata</font><font style="font-family:inherit;font-size:11pt;">&#32;allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 6(d).  The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 6(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating, preparing or defending any such action or claim.  Notwithstanding the provisions of this Section 6, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission.  No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.  No person shall be entitled to indemnification hereunder in contravention of Section 17(i) of the 1940 Act.  The remedies provided for in this Section 6 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 7.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Representations, Warranties and Agreements to Survive Delivery</font><font style="font-family:inherit;font-size:11pt;">.  All representations, warranties and covenants contained in this Agreement or in certificates of officers of the Company submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">behalf of any Underwriter, any person controlling any Underwriter or any affiliate of any Underwriter or by or on behalf of the Company, its officers or directors or any person controlling the Company, and shall survive the acceptance of and payment for any of the Securities.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 8.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Termination of Agreement</font><font style="font-family:inherit;font-size:11pt;">.  (a)  The Underwriters may terminate this Agreement, by notice to the Company, at any time on or prior to the Closing Time (and, if any Optional Securities are to be purchased on an Option Closing Time which occurs after the Closing Time, the Underwriters may terminate their obligations to purchase such Optional Securities, by notice to the Company, at any time on or prior to such Option Closing Time) (i) if there has been, since the respective dates as of which information is given in the Preliminary Prospectus or the Prospectus, any Material Adverse Effect, or (ii) if there has occurred any material adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof, any calamity or crisis, any acts of terrorism, or any change or development involving a prospective change in national or international political, financial or economic conditions, in each case the effect of which is so material and adverse as to make it, in the judgment of the Underwriters, impracticable or inadvisable to market the Securities or to enforce contracts for the sale of the Securities, or (iii) if trading in any securities of the Company has been suspended or materially limited by the Commission or the New York Stock Exchange, or if trading generally on the NYSE MKT LLC, the New York Stock Exchange or in the Nasdaq Global Market has been suspended or materially limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by any of said exchanges or by such system or by order of the Commission, FINRA or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or clearance services in the United States, or (iv) if a banking moratorium has been declared by either Federal or New York authorities.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:144px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(b)&#160;&#160;&#160;&#160;If this Agreement is terminated pursuant to this Section 8, such termination shall be without liability of any party to any other party except as provided in Section 4 hereof, and provided further that Sections 1, 4, 6, 7, 11, 14 and 17 hereof shall survive such termination and remain in full force and effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 9.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Default by One or More of the Underwriters</font><font style="font-family:inherit;font-size:11pt;">.  If one or more of the Underwriters shall fail at the Closing Time or an Option Closing Time to purchase the Securities which it or they are obligated to purchase under this Agreement (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Defaulted Securities</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the remaining Underwriters shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Underwriters, or any other underwriters, to purchase all of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the Underwriters shall not have completed such arrangements within such 24-hour period, then:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;">if the number of Defaulted Securities does not exceed 10% of the number of Securities to be purchased on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective underwriting obligations hereunder bear to the underwriting obligations of all non-defaulting Underwriters; or</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;">if the number of Defaulted Securities exceeds 10% of the number of Securities to be purchased on such date, this Agreement or, with respect to any Option Closing Time which occurs after the Closing Time, the obligation of the Underwriters to purchase and of the Company to sell the Optional Securities to be purchased and sold on such Option Closing Time, shall terminate without liability on the part of any non-defaulting Underwriter.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">No action taken pursuant to this Section 9 shall relieve any defaulting Underwriter from liability in respect of its default.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In the event of any such default which does not result in a termination of this Agreement or, in the case of an Option Closing Time which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Optional Securities, as the case may be, either the Underwriters or the Company shall have the right to postpone the Closing Time or the relevant Option Closing Time, as the case may be, for a period not exceeding seven days in order to effect any required changes in the Registration Statement or Prospectus or in any other documents or arrangements.  As used herein, the term &#8220;Underwriter&#8221; includes any person substituted for an Underwriter under this Section 9.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 10.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Notices</font><font style="font-family:inherit;font-size:11pt;">.  All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:48px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">telecommunication.  Notices to the Underwriters shall be directed to Morgan Stanley &amp; Co. LLC, 1585 Broadway, New York, NY 10036, Attention: Equity Syndicate Desk, with a copy to the Legal Department, and with a copy to Morrison &amp; Foerster LLP, 250 West 55th Street, New York, New York 10019,, Attention: Anna T. Pinedo, Esq.; notices to the Company shall be directed to them at 3700 Glenwood Avenue Suite 530, Raleigh, NC 27612, Attention: Steven C. Lilly, with a copy to Eversheds Sutherland (US) LLP, 700 6th Street, NW, Suite 700, Washington, DC 20001, Attention: Steven B. Boehm, Esq.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 11.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Parties</font><font style="font-family:inherit;font-size:11pt;">.  This Agreement shall inure to the benefit of and be binding upon the Underwriters, the Company and their respective successors.  Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than the Underwriters, the Company and their respective successors and the controlling persons and directors, officers, members, shareholders and trustees referred to in Section 6 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained, whether as third-party beneficiaries or otherwise.  This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of the Underwriters, the Company and their respective successors, and, solely for purposes of Section 6, their respective controlling persons and officers, directors, shareholders and trustees, and their heirs and legal representatives, and for the benefit of no other person, firm or corporation.  No purchaser of Securities from any Underwriter shall be deemed to be a successor by reason merely of such purchase.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 12.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:11pt;">.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS FORMED AND TO BE PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES OR RULES THEREOF, TO THE EXTENT SUCH PRINCIPLES WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 13.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Submission to Jurisdiction</font><font style="font-family:inherit;font-size:11pt;">.  Each of the parties hereto irrevocably agrees that any suit, action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby may be instituted in any United States federal and New York State courts located in the City of New York, irrevocably waives, to the fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such proceeding; and irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding brought in such a court and waives any other requirements of or objections to personal jurisdiction with respect thereto.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 14.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Waiver of Jury Trial</font><font style="font-family:inherit;font-size:11pt;">.  The Company and the Underwriters hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 15.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Effect of Headings</font><font style="font-family:inherit;font-size:11pt;">.  The Section and Schedule headings herein are for convenience only and shall not affect the construction hereof.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 16.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:11pt;">.  As used in this Agreement, the following terms have the respective meanings set forth below:</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">1933 Act</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">1934 Act</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">1940 Act</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Applicable Time</font><font style="font-family:inherit;font-size:11pt;">&#8221; means 8:00 a.m. (New York City time) on February 28, 2017 or such other time as agreed by the Company and the Underwriters; provided that if, subsequent to the date of this Agreement, the Company and the Underwriters have determined that the Disclosure Package included an untrue statement of material fact or omitted a statement of material fact necessary to make the information therein not misleading, and have agreed, in connection with the public offering of the Securities, to provide an opportunity to purchasers to </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">terminate their old contracts and enter into new contracts, then &#8220;Applicable Time&#8221; will refer to the information available to purchasers at the time of entry into the first such new contract.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Articles of Incorporation</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Articles of Incorporation of Triangle Capital Corporation dated as of October 10, 2006, as amended on November 29, 2006.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Code</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Internal Revenue Code of 1986, as amended.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Commission</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Securities and Exchange Commission.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">EDGAR</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Commission&#8217;s Electronic Data Gathering, Analysis and Retrieval System or Interactive Data Electronic Applications system, as the case may be.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">GAAP</font><font style="font-family:inherit;font-size:11pt;">&#8221; means United States generally accepted accounting principles.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Material Adverse Effect</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a material adverse change in the condition, financial or otherwise, or in the earnings, net asset value, business affairs or business prospects of the Triangle Entities, considered as a whole, whether or not arising in the ordinary course of business.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">New York Stock Exchange</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the New York Stock Exchange, Inc.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Organizational Documents</font><font style="font-family:inherit;font-size:11pt;">&#8221; means (a) in the case of a corporation, its charter and bylaws; (b) in the case of a limited or general partnership, its partnership certificate, certificate of formation or similar organizational document and its partnership agreement; (c) in the case of a limited liability company, its articles of organization, certificate of formation or similar organizational documents and its operating agreement, corporation agreement, membership agreement or other similar agreement; (d) in the case of a trust, its certificate of trust, certificate of formation or similar organizational document and its trust agreement or other similar agreement; and (e) in the case of any other entity, the organizational and governing documents of such entity.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Rule 172</font><font style="font-family:inherit;font-size:11pt;">,&#8221; &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Rule 497</font><font style="font-family:inherit;font-size:11pt;">,&#8221; &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Rule 430C</font><font style="font-family:inherit;font-size:11pt;">,&#8221; &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Rule 462(b)</font><font style="font-family:inherit;font-size:11pt;">,&#8221; and &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Rule 462(d)</font><font style="font-family:inherit;font-size:11pt;">&#8221; refer to such rules under the 1933 Act.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Rule 430C Information</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the information included in the Preliminary Prospectus and the Prospectus that was omitted from the Registration Statement at the time it became effective but that is deemed to be a part of and included in the Registration Statement pursuant to Rule 430C.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Rule 462(b) Registration Statement</font><font style="font-family:inherit;font-size:11pt;">&#8221; means a registration statement filed by the Company pursuant to Rule 462(b) for the purpose of registering any of the Securities under the 1933 Act, including the Rule 430C Information.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Sarbanes-Oxley Act</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or implementing the provisions thereof.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">SBA</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the U.S. Small Business Administration.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">SBA Regulations</font><font style="font-family:inherit;font-size:11pt;">&#8221; means the Small Business Investment Act of 1958 and the regulations promulgated thereunder.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">All references in this Agreement to the Registration Statement, any Rule 462(b) Registration Statement, the Preliminary Prospectus, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Whenever the words &#8220;include,&#8221; &#8220;includes&#8221; or &#8220;including&#8221; are used in this Agreement, they are deemed to be followed by the words &#8220;without limitation.&#8221;</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 17.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Absence of Fiduciary Relationship</font><font style="font-family:inherit;font-size:11pt;">.  The Company acknowledges and agrees that:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:11pt;">each of the Underwriters is acting solely as an underwriter in connection with the public offering of the Securities and no Underwriter has assumed or will assume a fiduciary, advisory or agency relationship in favor of the Company, no fiduciary, advisory or agency relationship has been or will be created between the Underwriters and the Company in respect of the offering and any of the transactions contemplated by this Agreement (irrespective of whether or not any of the Underwriters has advised or is currently advising the Company on other matters) and none of the Underwriters has any obligation to the Company with respect to the </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;"><font style="font-family:inherit;font-size:11pt;">offering and the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement;</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(b)</font><font style="font-family:inherit;font-size:11pt;">the purchase and sale of the Securities pursuant to this Agreement, including the determination of the public offering price of the Securities and any related discounts and commissions, and the price to be paid by the Underwriters for the Securities, is an arm&#8217;s-length commercial transaction between the Company, on the one hand, and the several Underwriters, on the other hand;</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(c)</font><font style="font-family:inherit;font-size:11pt;">it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions contemplated by this Agreement;</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(d)</font><font style="font-family:inherit;font-size:11pt;">in connection with the offering and each transaction contemplated by this Agreement and the process leading to such transactions, each Underwriter is and has been acting solely as principal and not as fiduciary, advisor or agent of the Company or any of their respective affiliates, stockholders, creditors, employees or any other party;</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(e)</font><font style="font-family:inherit;font-size:11pt;">none of the Underwriters has provided any legal, accounting, regulatory or tax advice with respect to the offering and the transactions contemplated by this Agreement and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate;</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(f)</font><font style="font-family:inherit;font-size:11pt;">the Underwriters and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Company, and that none of the Underwriters has any obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:96px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">(g)</font><font style="font-family:inherit;font-size:11pt;">it waives, to the fullest extent permitted by law, any claims it may have against any of the Underwriters for breach of fiduciary duty or alleged breach of fiduciary duty and agrees that none of the Underwriters shall have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 18.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Counterparts</font><font style="font-family:inherit;font-size:11pt;">.  This Agreement may be signed in any number of counterparts, each of which shall be deemed an original, and when taken together shall constitute one and the same instrument.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:8px;text-align:left;text-indent:48px;"><font style="padding-bottom:8px;text-align:left;font-family:inherit;font-size:10pt;padding-right:96px;">Section 19.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Complete Agreement</font><font style="font-family:inherit;font-size:11pt;">.  This Agreement (including the Schedules hereto and the Lock-Up Agreements) represents the complete understanding and agreement of the parties and supersedes all prior agreements and understandings (whether written or oral) between the Company and the Underwriters with respect to the subject matter hereof.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">If the foregoing is in accordance with your understanding of our agreement, please sign and return to us a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement among the Underwriters and the Company in accordance with its terms.</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">[</font><font style="font-family:inherit;font-size:11pt;font-style:italic;">remainder of page intentionally left blank</font><font style="font-family:inherit;font-size:11pt;">]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Very truly yours,</font></div><div style="line-height:120%;padding-bottom:32px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">TRIANGLE CAPITAL CORPORATION</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:  </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;/s/ E. Ashton Poole</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Name:</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">E. Ashton Poole</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:336px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:288px;"><font style="font-family:inherit;font-size:11pt;">Title:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Chief Executive Officer and President</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">CONFIRMED AND ACCEPTED, as of the date first above written:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:32px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">MORGAN STANLEY &amp; CO. LLC</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By: &#160;&#160;&#160;&#160;\s\ Michael Occi </font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Name:</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;Michael Occi</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Title:</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;Executive Director</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SCHEDULE A</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.6171875%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:85%;"></td><td style="width:15%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Name of Underwriter</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">No. of Initial Securities</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Morgan Stanley &amp; Co. LLC</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,750,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Merrill Lynch, Pierce, Fenner &amp; Smith </font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Incorporated </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,260,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Keefe, Bruyette &amp; Woods, Inc.  </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,225,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wells Fargo Securities, LLC</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">840,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Robert W. Baird &amp; Co. Incorporated</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">700,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Janney Montgomery Scott LLC </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">420,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BB&amp;T Capital Markets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">245,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JMP Securities LLC</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">210,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Hilliard, W.L. Lyons, LLC</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">140,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wunderlich Securities, Inc.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">140,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fifth Third Securities, Inc.</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70,000</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,000,000</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SCHEDULE B</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">PRICE-RELATED INFORMATION</font></div><div style="line-height:120%;padding-bottom:24px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">TRIANGLE CAPITAL CORPORATION</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Public offering price:  $19.50 per share</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Underwriting discounts and commissions:  $0.60 per share</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Proceeds (before expenses) to the Company: $18.90 per share</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Shares offered:  7,000,000</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Option to Purchase Additional Shares:  1,050,000</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SCHEDULE C</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">FORM OF LOCK-UP AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">TRIANGLE CAPITAL CORPORATION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">February 28, 2017</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Morgan Stanley &amp; Co. LLC</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">c/o Morgan Stanley &amp; Co. LLC</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">1585 Broadway</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">New York, NY 10036</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Re: Lock-Up Agreement for shares of Triangle Capital Corporation</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The undersigned understands that Morgan Stanley &amp; Co. LLC (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Morgan Stanley</font><font style="font-family:inherit;font-size:11pt;">&#8221;) proposes to enter into an Underwriting Agreement (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Underwriting Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) with Triangle Capital Corporation, a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), providing for the public offering (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Public Offering</font><font style="font-family:inherit;font-size:11pt;">&#8221;) of 7,000,000 shares (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Shares</font><font style="font-family:inherit;font-size:11pt;">&#8221;) of common stock, par value $0.001 per share, of the Company (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Common Stock</font><font style="font-family:inherit;font-size:11pt;">&#8221;). Morgan Stanley is acting as representative of the several underwriters named in </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:11pt;">&#32;to the Underwriting Agreement (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Underwriters</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">To induce the Underwriters that may participate in the Public Offering to continue their efforts in connection with the Public Offering, the undersigned hereby agrees that, without the prior written consent of Morgan Stanley on behalf of the Underwriters, it will not, during the period commencing on the date hereof and ending 30 days after the date of the final prospectus relating to the Public Offering (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Prospectus</font><font style="font-family:inherit;font-size:11pt;">&#8221;), (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock beneficially owned (as such term is used in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Exchange Act</font><font style="font-family:inherit;font-size:11pt;">&#8221;)), by the undersigned or any other securities so owned convertible into or exercisable or exchangeable for Common Stock or (2) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise.  The foregoing sentence shall not apply to (a) transactions relating to shares of Common Stock or other securities acquired in open market transactions after the completion of the Public Offering, </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that no filing under Section 16(a) of the Exchange Act shall be required or shall be voluntarily made in connection with subsequent sales of Common Stock or other securities acquired in such open market transactions; or (b) transfers of shares of Common Stock or any security convertible into Common Stock as a bona fide gift; or (c) distributions of shares of Common Stock or any security convertible into Common Stock to limited partners or stockholders of the undersigned, </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that in the case of any transfer or distribution pursuant to clause (b) or (c), (i) each donee or distributee shall sign and deliver a lock-up letter substantially in the form of this letter and (ii) no filing under Section 16(a) of the Exchange Act, reporting a reduction in beneficial ownership of shares of Common Stock, shall be required or shall be voluntarily made during the restricted period referred to in the foregoing sentence; or (d) the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Common Stock, </font><font style="font-family:inherit;font-size:11pt;font-style:italic;">provided</font><font style="font-family:inherit;font-size:11pt;">&#32;that such plan does not provide for the transfer of Common Stock during the restricted period and no public announcement or filing under the Exchange Act regarding the establishment of such plan shall be required of or voluntarily made by or on behalf of the undersigned or the Company; or (e) Common Stock, withheld by, or transferred to the Company under any Restricted Stock Award Agreement for purposes of covering any tax withholding obligations on behalf of the undersigned, as permitted under the Company's Amended and Restated 2007 Equity Incentive Plan; or (f) the issuance of shares of Common Stock issuable under the Company's dividend reinvestment plan.  In addition, the undersigned agrees that, without the prior written consent of Morgan Stanley on behalf of the Underwriters, it will not, during the period </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">commencing on the date hereof and ending 30 days after the date of the Prospectus, make any demand for or exercise any right with respect to, the registration of any shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock.  The undersigned also agrees and consents to the entry of stop transfer instructions with the Company's transfer agent and registrar against the transfer of the undersigned's shares of Common Stock except in compliance with the foregoing restrictions.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The undersigned understands that the Company and the Underwriters are relying upon this agreement in proceeding toward consummation of the Public Offering.  The undersigned further understands that this agreement is irrevocable and shall be binding upon the undersigned's heirs, legal representatives, successors and assigns.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Whether or not the Public Offering actually occurs depends on a number of factors, including market conditions.  Any Public Offering will only be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Underwriters.  It is understood that, if (l) the Company notifies the undersigned that it does not intend to proceed with the Public Offering, (2) the registration statement filed with the Securities and Exchange Commission with respect to the Public Offering is withdrawn, or (3) for any reason the Underwriting Agreement shall terminate or be terminated prior to payment for and delivery of the Shares to be sold thereunder, the undersigned will be released from its obligations under this Agreement.</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">[Remainder of Page Intentionally Left Blank]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:48px;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Very truly yours,</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Name)</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">(Title)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font 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style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">[Signature page to Lock-Up Agreement]</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29</font></div></div>	</body>
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<TYPE>EX-99.(L)
<SEQUENCE>3
<FILENAME>exhibitlsabopinion20170301.htm
<DESCRIPTION>EXHIBIT 99.(L)
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		<title>Exhibit</title>
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<div><a name="s3FCFFF38A3F52BFF8F61805A2ACECB7D"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit (l)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">[Letterhead of Eversheds Sutherland (US) LLP]</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:24px;padding-top:32px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:24px;padding-top:32px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">March 1, 2017</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Triangle Capital Corporation </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3700 Glenwood Avenue, Suite 530</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Raleigh, North Carolina  27612</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:14px;padding-top:14px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">We have acted as counsel to Triangle Capital Corporation, a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), in connection with the registration statement on Form&#160;N-2 (File No.&#160;333-199102) (as amended as of the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Registration Statement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) filed by the Company with the Securities and Exchange Commission (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Commission</font><font style="font-family:inherit;font-size:12pt;">&#8221;) under the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Securities Act</font><font style="font-family:inherit;font-size:12pt;">&#8221;), previously declared effective by the Commission, relating to the public offering of securities of the Company that may be offered by the Company from time to time as set forth in the prospectus dated April&#160;18, 2016 which was included in Post-Effective Amendment No.&#160;5 to the Registration Statement, and which forms a part of the Registration Statement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Prospectus</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and as may be set forth from time to time in one or more supplements to the Prospectus. This opinion letter is rendered in connection with the public offering of 7,000,000 shares of common stock of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;), plus 1,050,000 shares issuable by the Company to cover the underwriters&#8217; option to purchase additional shares, as described in the Prospectus and a prospectus supplement dated February 28, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Prospectus Supplement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).&#160;All of the Shares are to be sold by the Company as described in the Registration Statement and related Prospectus and Prospectus Supplement.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Shares are to be sold by the Company pursuant to an underwriting agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Underwriting Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of February 28, 2017, by and between the Company and Morgan Stanley &amp; Co. LLC, which is being filed as Exhibit&#160;(h)(1) to the Company&#8217;s Post-Effective Amendment No.&#160;7 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Post-Effective Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to the Registration Statement, to be filed with the Commission on the date hereof.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">As counsel to the Company, we have participated in the preparation of the Registration Statement, the Prospectus and the Prospectus Supplement and have examined the originals or copies of the following:</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Articles of Amendment and Restatement of the Company, certified as of the date hereof by an officer of the Company;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Fifth Amended and Restated Bylaws of the Company, certified as of the date hereof by an officer of the Company;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; A Certificate of Good Standing with respect to the Company issued by the State Department of Assessments and Taxation of the State of Maryland as of a recent date; and</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; The resolutions of the board of directors of the Company relating to, among other things, (a)&#160;the authorization and approval of the preparation and filing of the Registration Statement, and (b)&#160;the authorization, issuance, offer and sale of the Shares pursuant to the Underwriting Agreement, the Registration Statement, the Prospectus and the Prospectus Supplement, certified as of the date hereof by an officer of the Company.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">With respect to such examination and our opinion expressed herein, we have assumed, without any independent investigation or verification, (i)&#160;the genuineness of all signatures on all documents submitted to us for examination, (ii)&#160;the legal capacity of all natural persons, (iii)&#160;the authenticity of all documents submitted to us as originals, (iv)&#160;the conformity to original documents of all documents submitted to us as conformed or reproduced copies and the authenticity of the originals of such copied documents, and (v)&#160;that all certificates issued by public officials have been properly issued. We also have assumed without independent investigation or verification the accuracy and completeness of all corporate records made available to us by the Company.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">As to certain matters of fact relevant to the opinions in this opinion letter, we have relied up certificates and/or representations of officers of the Company. We have also relied on certificates and confirmations of public officials. We have not independently established the facts, or in the case of certificates or confirmations of public officials, the other statements, so relied upon.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This opinion letter is limited to the effect of the General Corporation Law of the State of Maryland, as in effect on the date hereof, and we express no opinion as to the applicability or effect of any other laws of such jurisdiction or the laws of any other jurisdictions. Without limiting the preceding sentence, we express no opinion as to any state securities or broker dealer laws or regulations thereunder relating to the offer, issuance and sale of the Shares. This opinion letter has been prepared, and should be interpreted, in accordance with customary practice followed in the preparation of opinion letters by lawyers who regularly give, and such customary practice followed by lawyers who on behalf of their clients regularly advise opinion recipients regarding, opinion letters of this kind.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Based upon and subject to the limitations, exceptions, qualifications and assumptions set forth in this opinion letter, we are of the opinion that the Shares have been duly authorized and, when issued and paid for in accordance with the terms of the Underwriting Agreement, the Shares will be validly issued, fully paid and nonassessable.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The opinions expressed in this opinion letter (a) are strictly limited to the matters stated in this opinion letter, and without limiting the foregoing, no other opinions are to be implied and (b) are only as of the date of this opinion letter, and we are under no obligation, and do not undertake, to advise the addressee of this opinion letter or any other person or entity either of any change of law or fact that occurs, or of any fact that comes to our </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">attention, after the date of this opinion letter, even though such change or such fact may affect the legal analysis or a legal conclusion in this opinion letter.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">We hereby consent to the filing of this opinion as an exhibit to the Post-Effective Amendment and to the reference to our firm in the &#8220;Legal Matters&#8221; section in the Prospectus Supplement.&#160;We do not admit by giving this consent that we are in the category of persons whose consent is required under Section&#160;7 of the Securities Act.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Very truly yours,</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Eversheds Sutherland (US) LLP</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:14px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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