<SEC-DOCUMENT>0001752724-20-003475.txt : 20200113
<SEC-HEADER>0001752724-20-003475.hdr.sgml : 20200113
<ACCEPTANCE-DATETIME>20200113100148
ACCESSION NUMBER:		0001752724-20-003475
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20191031
FILED AS OF DATE:		20200113
DATE AS OF CHANGE:		20200113
EFFECTIVENESS DATE:		20200113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABERDEEN ASIA-PACIFIC INCOME FUND INC
		CENTRAL INDEX KEY:			0000790500
		IRS NUMBER:				133334183
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04611
		FILM NUMBER:		20523068

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN ASIA PACIFIC INCOME FUND INC
		DATE OF NAME CHANGE:	20010531

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEN ASIA-PACIFIC INCOME FUND INC
		DATE OF NAME CHANGE:	20010531

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST AUSTRALIA PRIME INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CEN
<SEQUENCE>1
<FILENAME>primary_doc.xml
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          <officeName>State Street Bank and Trust Company</officeName>
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          <admin>
            <adminName>Aberdeen Standard Investments Inc.</adminName>
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        <aggregateCommission>620.81</aggregateCommission>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
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      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Other</description>
          <securityClassTitle>Series A Senior Secured Notes Due June 12, 2020</securityClassTitle>
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            <commonStock commonStockExchange="N/A" commonStockTickerSymbol="N/A"/>
          </commonStocks>
          <otherSecurityDescription>Senior Secured Notes</otherSecurityDescription>
        </securityRelatedItem>
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          <description>Other</description>
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          <otherSecurityDescription>Senior Secured Notes</otherSecurityDescription>
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          <securityClassTitle>ABERDEEN ASIA-PACIFIC INCOME FUND INC</securityClassTitle>
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          <securityClassTitle>Series D Senior Secured Notes due August 10, 2032</securityClassTitle>
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          </commonStocks>
          <otherSecurityDescription>Senior Secured Notes</otherSecurityDescription>
        </securityRelatedItem>
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          <securityClassTitle>Series C Senior Secured Notes due February 8, 2032</securityClassTitle>
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          </commonStocks>
          <otherSecurityDescription>Senior Secured Notes</otherSecurityDescription>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>Series A Mandatorily Redeemable Preferred Stock</securityClassTitle>
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          </commonStocks>
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      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <repurchaseSecurities isRepurchaseSecurity="Y">
        <repurchaseSecurityType>Common stock</repurchaseSecurityType>
      </repurchaseSecurities>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>0.8</managementFee>
      <netOperatingExpenses>2.84</netOperatingExpenses>
      <marketPricePerShare>4.25000000</marketPricePerShare>
      <netAssetValuePerShare>4.88</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isInstDefiningRights>true</isInstDefiningRights>
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    <signature registrantSignedName="ABERDEEN ASIA-PACIFIC INCOME FUND INC" signedDate="2020-01-10" signature="Sharon Ferrari" title="Senior Manager"/>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>NCEN_4541064949733622.txt
<TEXT>

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of
Aberdeen Asia-Pacific Income Fund, Inc.:

In planning and performing our audit of the financial statements of
Aberdeen Asia-Pacific Income Fund, Inc. (the "Fund") as of and
for the year ended October 31, 2019, in accordance with the
standards of the Public Company Accounting Oversight Board
(United States), we considered the Fund's internal control over
financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-CEN, but not for
the purpose of expressing an opinion on the effectiveness of the
Fund's internal control over financial reporting. Accordingly, we
express no such opinion.
Management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. A company's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A
company's internal control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made
only in accordance with authorizations of management and
directors of the Fund and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company's assets that could
have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are
subject to the risk that controls may become inadequate because
of changes in conditions, or that the degree of compliance with
policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a
material misstatement of the Fund's annual or interim financial
statements will not be prevented or detected on a timely basis.
Our consideration of the Fund's internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control that might be material weaknesses under
standards established by the Public Company Accounting
Oversight Board (United States). However, we noted no
deficiencies in the Fund's internal control over financial reporting
and its operation, including controls over safeguarding securities
that we consider to be a material weakness as defined above as
of October 31, 2019.
This report is intended solely for the information and use of
management and the Board of Directors of Aberdeen Asia-Pacific
Income Fund, Inc. and the Securities and Exchange Commission
and is not intended to be and should not be used by anyone other
than these specified parties.

KPMG LLP
Philadelphia, Pennsylvania
December 27, 2019



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INST DEFINING RIGHTS
<SEQUENCE>3
<FILENAME>NCEN_4701375936239996.htm
<TEXT>
<html>

<head>
<meta content="text/html; charset=utf-8" />




&nbsp;</head>

<body link=blue vlink="#954F72"><a name="page_1"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<div style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;"><p align=right style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;text-align:right;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Exhibit
G.1.b.ii</font></p>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">FORM OF</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Aberdeen Asia-Pacific Income Fund, Inc. </font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">$100,000,000 3.73%
Series E Senior Secured Notes due June 19, 2034</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">_____________</font></p>

<p align=center style="margin:0in;margin-bottom:7.0pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Note Purchase Agreement</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">_____________</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Dated as of June 19,
2019</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in;margin-bottom:.0001pt;padding:0in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

</div>









<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font style=""><font face=Times lang=EN-US style="font-size:9.0pt;line-height:11.0pt;">note purchase agreement (FAX) 4836-3733-3140 v63 (002).doc</font></font><font style=""></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style=""><font face=Times lang=EN-US style="font-size:9.0pt;line-height:11.0pt;">4293189</font></font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
<a name="page_2"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p align=center style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:center;text-justify:inter-ideograph;"><font style="font-variant:small-caps;"><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Table of Contents</font></b></font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Heading&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Page</font></font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Authorization of Notes......................................................................... 1</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sale and Purchase of Notes;
Security for the Notes...................... 2</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;2.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sale and Purchase of Notes................................................................... 2</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 2.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Security for the Notes............................................................................ 2</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Closing....................................................................................................... 2</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Conditions to Closing............................................................................. 3</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Representations and Warranties............................................................ 3</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Performance; No Default....................................................................... 3</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Compliance Certificates......................................................................... 3</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Opinions of Counsel.............................................................................. 3</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Purchase Permitted by
Applicable Law, Etc......................................... 3</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sale of Other Notes............................................................................... 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payment of Special Counsel Fees.......................................................... 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Private Placement Number.................................................................... 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Changes in Corporate Structure............................................................. 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Funding Instructions.............................................................................. 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 4.11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rating of Notes..................................................................................... 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financing Agreements........................................................................... 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 4.13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Lien Perfection...................................................................................... 4</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Proceedings and Documents................................................................. 5</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Representations and
Warranties of the Fund................................... 5</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Organization and Power........................................................................ 5</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Authority and Execution and
Binding Agreement............................... 5</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Disclosure; No Material Adverse
Change............................................. 5</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Subsidiaries...................................................................................... 6</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Condition............................................................................... 6</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Conflict; Compliance....................................................................... 6</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Approvals and Consents........................................................................ 7</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Litigation............................................................................................... 7</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Taxes...................................................................................................... 7</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Property................................................................................................. 7</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Licenses, Permits, Etc............................................................................ 8</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Compliance with ERISA....................................................................... 8</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Private Offering by the Fund................................................................ 8</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Use of Proceeds; Margin
Regulations................................................... 8</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Existing Indebtedness........................................................................... 9</font></p>


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<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  Foreign
Assets Control Regulations, Etc.............................................. 9</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Investment Company Status................................................................ 10</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Ranking of Obligations........................................................................ 10</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 5.19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Security Interests................................................................................. 10</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.20.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Material Agreements............................................................................ 11</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Representations of the
Purchasers.................................................. 11</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;6.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Purchase for Investment...................................................................... 11</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;6.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Source of Funds................................................................................... 11</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Information as to the Fund................................................................. 13</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial and Business
Information.................................................... 13</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Officer&#8217;s
Certificate............................................................................. 16</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Visitation............................................................................................. 16</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section 7.4. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Electronic
Delivery.............................................................................. 17</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payment and Prepayment of the
Notes............................................. 18</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Maturity............................................................................................... 18</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Optional Prepayments with Make&#8209;Whole
Amount and Special Optional Prepayments......................................................................................... 18</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 8.2.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Optional Prepayments of the Notes
with Make-Whole Amount........ 18</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 8.2.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Special Optional Prepayments............................................................. 18</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 8.2.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Prepayments of Notes One Month Prior
to Maturity at Par................ 19</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.2.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Optional Prepayment during
Extended 10-Day Period...................... 19</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 8.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Allocation of Partial Prepayments....................................................... 20</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Maturity; Surrender, Status,
Etc.......................................................... 20</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Purchase of Notes................................................................................ 20</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Make&#8209;Whole Amount.......................................................................... 20</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 8.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payments Due on Non-Business Days................................................ 22</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Affirmative Covenants........................................................................ 22</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Compliance with Law.......................................................................... 22</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Insurance.............................................................................................. 23</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Maintenance of Properties................................................................... 23</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payment of Taxes................................................................................ 23</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Corporate Existence, Etc..................................................................... 23</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Books and Records.............................................................................. 23</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Asset Coverage.................................................................................... 24</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 9.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Current Rating on the Notes................................................................ 24</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Ranking of Obligations........................................................................ 24</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Maintenance of Status......................................................................... 24</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">2</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


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<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Negative
Covenants.............................................................................. 24</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transactions with Affiliates................................................................. 24</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fundamental Changes......................................................................... 24</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Terrorism Sanctions Regulations......................................................... 25</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Restricted Payments;</font><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> </font></b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Fundamental
Policies; Amendments and Changes............................................................................................................. 25</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 10.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Subsidiaries.................................................................................... 25</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Liens.................................................................................................... 25</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Indebtedness; Senior Securities........................................................... 26</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Investment........................................................................................... 27</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Events of Default.................................................................................. 27</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Remedies on
Default, Etc.................................................................... 31</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Acceleration......................................................................................... 31</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other Remedies................................................................................... 31</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rescission............................................................................................ 31</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Waivers or Election of
Remedies, Expenses, Etc.......................... 32</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Registration; Exchange;
Substitution of Notes............................. 32</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Registration of Notes........................................................................... 32</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transfer and Exchange of Notes......................................................... 32</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Replacement of Notes......................................................................... 33</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payments on Notes................................................................................ 34</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Place of Payment................................................................................. 34</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payment by Wire Transfer................................................................... 34</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; FATCA Information............................................................................ 34</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Expenses, Etc.......................................................................................... 35</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;15.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Transaction
Expenses........................................................................... 35</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section 15.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Certain Taxes....................................................................................... 35</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;15.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Survival................................................................................................ 35</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Survival of Representations
and Warranties; Entire Agreement 36</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Amendment and Waiver....................................................................... 36</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Requirements....................................................................................... 36</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Solicitation of Holders of Notes.......................................................... 36</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Binding Effect,
Etc............................................................................. 37</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Notes Held
by Fund, Etc..................................................................... 37</font></p>


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<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notices..................................................................................................... 37</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Reproduction of Documents............................................................... 38</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;20.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Confidential Information................................................................... 38</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;21.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Substitution of Purchaser.................................................................. 39</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:6.0pt;margin-left:1.5in;margin-right:63.35pt;margin-top:14.0pt;text-indent:-1.5in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Miscellaneous........................................................................................ 40</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Successors and Assigns....................................................................... 40</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Accounting Terms................................................................................ 40</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Severability.......................................................................................... 41</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Construction, Etc................................................................................. 41</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Counterparts........................................................................................ 41</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Governing
Law.................................................................................... 41</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Jurisdiction and Process; Waiver
of Jury Trial..................................... 41</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 22.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rounding............................................................................................. 42</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 22.9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Times of Day....................................................................................... 42</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.75in;margin-right:63.35pt;margin-top:0in;text-indent:-99.0pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule A</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Information
Relating to Purchasers</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> B&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Defined
Terms</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> 5.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212;
&#160;&#160;&#160;&#160; Disclosure Materials</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> 5.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212;
&#160;&#160;&#160;&#160; Financial Statements</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> 5.15&#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Existing
Indebtedness</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> 5.19&#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Security
Interests</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.75in;text-indent:-1.75in;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> 10.8&#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Additional
Investment Restrictions</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.75in;text-indent:-1.75in;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.75in;text-indent:-1.75in;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Exhibit </font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Form of $100,000,000
3.73% Series E Senior Secured Notes due June 19, 2034</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.75in;text-indent:-1.75in;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.75in;text-indent:-1.75in;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Exhibit 2.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8212;&#160;&#160;&#160;&#160;&#160; Form of
Security Agreement</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.75in;text-indent:-1.75in;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Exhibit 2.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8212;&#160;&#160;&#160;&#160;&#160; Form of Intercreditor
Agreement</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Exhibit </font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">4.4(a) &#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Form
of Opinion of respective Special Counsel to the Fund</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Exhibit </font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">4.4(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212;&#160;&#160;&#160;&#160;&#160; Form
of Opinion of Special Counsel to the Purchasers</font></p>









<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">4</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
<a name="page_6"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="font-variant:small-caps;margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;font-weight:normal;line-height:14.0pt;">Aberdeen Asia-Pacific Income Fund, Inc.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;font-weight:normal;line-height:14.0pt;">C/O Aberdeen Standard
Investments Inc.<br>
1735 Market Street, 32nd Floor<br>
Philadelphia, PA&#160; 19103</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">$100,000,000 3.73% Series
E Senior Secured Notes due June 19, 2034</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Dated as of June 19,
2019</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">To
Each of The Purchasers Listed in</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Schedule A Hereto</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Ladies and Gentlemen:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Aberdeen Asia-Pacific
Income Fund, Inc.</font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">, a Maryland corporation (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Fund&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">), agrees
with each of the Purchasers as follows:</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Authorization of Notes<a name="_Toc519145323"></a><a name="_Toc519148600"></a><a name="_Toc519148684"></a><a name="_Toc519149050"></a><a name="_Toc519149156"></a><a name="_Toc519149322"></a><a name="_Toc519149405"></a><a name="_Toc65959595"></a><a name="_Toc126306043"></a><a name="_Toc7191076"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Description of Notes</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund
will authorize the issue and sale of $100,000,000 aggregate principal amount of
its 3.73% Series E Senior Secured Notes due June 19, 2034 (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Notes,&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
such term to include any such notes issued in substitution therefore pursuant
to Section 13).&#160; The Notes shall be substantially in the form set out in
Exhibit&nbsp;1.&#160; Certain capitalized and other terms used in this Agreement are
defined in Schedule&nbsp;B and, for purposes of this Agreement, the rules of
construction set forth in Section 22.4 shall govern; and references to a
&#8220;Schedule&#8221; or an &#8220;Exhibit&#8221; are, unless otherwise specified, to a Schedule or an
Exhibit attached to this Agreement.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Notes shall bear interest from the date of issuance at
a fixed rate equal to 3.73% per annum payable semiannually on the 19th day of
each June and December in each year (commencing December 19, 2019) and at
maturity and shall bear interest on overdue principal (including any overdue
required or optional prepayment of principal) and premium, if any, and (to the
extent legally enforceable) on any overdue installment of interest at the
Default Rate until paid.&#160; Interest shall be subject to adjustment in accordance
with Section&nbsp;1(b) below.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Interest on the Notes shall be computed on the basis of a
360&#8209;day year of twelve 30&#8209;day months.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(b)&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Adjustment Period</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
Without limiting the provisions of Section 9.8, in addition to all other
amounts due and payable hereunder and under the Notes, the interest rate of the
Notes (including any Default Rate applicable thereto) shall be increased by an
amount equal to 1.00% per annum during any Adjustment Period.</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">5</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
<a name="page_7"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sale and
Purchase of Notes; Security for the Notes<a name="_Toc7191077"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;2.1.&#160;&#160;&#160;&#160; Sale and Purchase of
Notes<a name="_Toc7191078"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Subject to the terms and
conditions of this Agreement, the Fund will issue and sell to each Purchaser
and each Purchaser will purchase from the Fund, at the Closing provided for in
Section&nbsp;3, Notes in the principal amount specified opposite such
Purchaser&#8217;s name in Schedule A at the purchase price of 100% of the principal
amount thereof.&#160; The Purchasers&#8217; obligations hereunder are several and not
joint obligations and no Purchaser shall have any liability to any Person for
the performance or non&#8209;performance of any obligation by any other
Purchaser hereunder.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 2.2.&#160;&#160;&#160;&#160; Security for the Notes<a name="_Toc195014184"></a><a name="_Toc197072100"></a><a name="_Toc7191079"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Notes will be secured by an Amended and Restated Security Agreement dated
as of June&nbsp;12, 2013 and signed by a Responsible Officer on behalf of the
Fund in favor of the Secured Parties (as defined therein which includes the
holders of Notes) (as the same may be amended, restated, supplemented or
otherwise modified from time to time in accordance with this Agreement and the
other Financing Agreements, the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Security Agreement&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">), in substantially
the form attached hereto as Exhibit&nbsp;2.2.&#160; The Security Agreement creates
and will create a first priority Lien on and security interest in the
Collateral described therein subject to Permitted Liens.&#160; For the purposes of
the Security Agreement, the Notes and all debts, liabilities, obligations,
covenants and duties of the Fund arising under any Financing Agreement or otherwise
with respect to the Notes, whether direct or indirect (including those acquired
by assumption), absolute or contingent, due or to become due, now existing or
hereafter arising, including expenses, principal amounts, Make-Whole Amount and
including interest and fees that accrue after the commencement by or against
the Fund of any proceeding under any bankruptcy insolvency, reorganization,
moratorium or other similar laws of any jurisdiction naming the Fund as the
debtor in such proceeding, regardless of whether such interest and fees are
allowed claims in such proceeding, and any other unpaid amounts (including in
respect of fees, expenses, indemnification and reimbursement) owing from the
Fund with respect to any Notes shall constitute &#8220;Obligations&#8221;.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Closing<a name="_Toc519145325"></a><a name="_Toc519148602"></a><a name="_Toc519148686"></a><a name="_Toc519149052"></a><a name="_Toc519149158"></a><a name="_Toc519149324"></a><a name="_Toc519149407"></a><a name="_Toc65959597"></a><a name="_Toc126306045"></a><a name="_Toc7191080"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The sale and purchase of the Notes to be purchased by each
Purchaser shall occur at the offices of Chapman and Cutler LLP, 111&nbsp;West
Monroe Street, Chicago, Illinois 60603&#8209;4080, at 10:00&nbsp;a.m., Chicago
time, at a closing (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Closing&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">) on June 19, 2019 or on such other
Business Day thereafter on or prior to June 20, 2019 as may be agreed upon by
the Fund and the Purchasers.&#160; At the Closing, the Fund will deliver or cause to
be delivered to each Purchaser the Notes to be purchased by such Purchaser in
the form of a single Note to be so purchased (or such greater number of Notes
in denominations of at least $250,000 as such Purchaser may request) dated the
date of the Closing and registered in such Purchaser&#8217;s name (or in the name of
its nominee), against delivery by such Purchaser to the Fund of immediately
available funds in the amount of the purchase price therefor by wire transfer
of immediately available funds for the account of the Fund to State Street Bank
and Trust Co. Boston, BIC:&nbsp;SBOSUS33, ABA#&nbsp; 011000028, Beneficiary
Account Number: 23628803, Beneficiary Name:&nbsp; ABERDEEN ASIA-PACIFIC INC
FUND, 197C. &#160;If at the Closing the Fund shall fail to tender such Notes to any
Purchaser as provided above in this Section&nbsp;3, or any of the conditions
specified in Section&nbsp;4 shall not have been fulfilled to such Purchaser&#8217;s
satisfaction, such Purchaser shall, at its election, be
relieved of all further obligations under this Agreement, without thereby
waiving any rights such Purchaser may have by reason of such failure or
nonfulfillment.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">6</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Conditions to Closing<a name="_Toc519145326"></a><a name="_Toc519148603"></a><a name="_Toc519148687"></a><a name="_Toc519149053"></a><a name="_Toc519149159"></a><a name="_Toc519149325"></a><a name="_Toc519149408"></a><a name="_Toc65959598"></a><a name="_Toc126306046"></a><a name="_Toc7191081"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Each Purchaser&#8217;s obligation to purchase and pay for the
Notes to be sold to such Purchaser at the Closing is subject to the fulfillment
to such Purchaser&#8217;s satisfaction, prior to or at the Closing, of the following
conditions:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.1.&#160;&#160;&#160;&#160; Representations and
Warranties<a name="_Toc519145327"></a><a name="_Toc519148604"></a><a name="_Toc519148688"></a><a name="_Toc519149054"></a><a name="_Toc519149160"></a><a name="_Toc519149326"></a><a name="_Toc519149409"></a><a name="_Toc65959599"></a><a name="_Toc126306047"></a><a name="_Toc7191082"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The representations
and warranties of the Fund in each Financing Agreement shall be correct in all
material respects when made and at the time of the Closing.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.2.&#160;&#160;&#160;&#160; Performance; No Default<a name="_Toc519145328"></a><a name="_Toc519148605"></a><a name="_Toc519148689"></a><a name="_Toc519149055"></a><a name="_Toc519149161"></a><a name="_Toc519149327"></a><a name="_Toc519149410"></a><a name="_Toc65959600"></a><a name="_Toc126306048"></a><a name="_Toc7191083"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund shall have performed and complied with
all agreements and conditions contained in each Financing Agreement required to
be performed or complied with by it prior to or at the Closing.&#160; Before and
after giving effect to the issue and sale of the Notes (and the application of
the proceeds thereof as contemplated by Section&nbsp;5.14) no Default or Event
of Default shall have occurred and be continuing.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.3.&#160;&#160;&#160;&#160; Compliance
Certificates<a name="_Toc126306049"></a><a name="_Toc7191084"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Officer&#8217;s
Certificate</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund shall have delivered to such Purchaser an Officer&#8217;s
Certificate, dated the date of the Closing, certifying that the conditions
specified in Sections 4.1, 4.2 and 4.9 have been fulfilled.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Secretary&#8217;s Certificate</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The
Fund shall have delivered to such Purchaser a certificate of its Secretary or
Assistant Secretary, dated the date of the Closing, certifying as to (i) the
resolutions attached thereto and other corporate proceedings relating to the
authorization, execution and delivery of each Financing Agreement and (ii) the
Fund&#8217;s organizational documents as then in effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.4.&#160;&#160;&#160;&#160; Opinions of Counsel<a name="_Toc65959602"></a><a name="_Toc126306050"></a><a name="_Toc7191085"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
Such Purchaser shall have received opinions in form and substance satisfactory
to such Purchaser, dated the date of the Closing (a) from </font><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Willkie Farr &amp; Gallagher&nbsp;LLP</font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">, counsel for
the Fund and from Venable LLP, special Maryland counsel to the Fund, together
covering the matters set forth in Exhibit&nbsp;4.4(a) and covering such other
matters incident to the transactions contemplated hereby as such Purchaser or
its counsel may reasonably request (and the Fund hereby instructs its counsel
to deliver such opinions to the Purchasers) and (b)&nbsp;from Chapman and
Cutler LLP, the Purchasers&#8217; special counsel in connection with such
transactions, substantially in the form set forth in Exhibit 4.4(b) and
covering such other matters incident to such transactions as such Purchaser may
reasonably request.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.5.&#160;&#160;&#160;&#160; Purchase Permitted by
Applicable Law, Etc<a name="_Toc65959603"></a><a name="_Toc126306051"></a><a name="_Toc7191086"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
On the date of the Closing such Purchaser&#8217;s purchase of Notes shall (a)&nbsp;be
permitted by the laws and regulations of each jurisdiction to which such
Purchaser is subject, without recourse to provisions (such as
section&nbsp;1405(a)(8) of the New&nbsp;York Insurance Law) permitting limited
investments by insurance companies without restriction as to the character of
the particular investment, (b)&nbsp;not violate any applicable
law or regulation (including, without limitation, Regulation T, U or X of the
Board of Governors of the Federal Reserve System) and (c)&nbsp;not subject such
Purchaser to any tax, penalty or liability under or pursuant to any applicable
law or regulation, which law or regulation was not in effect on the date
hereof. </font><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;</font></b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">If requested by such Purchaser, such Purchaser shall have
received an Officer&#8217;s Certificate certifying as to such matters of fact as such
Purchaser may reasonably specify to enable such Purchaser to determine whether
such purchase is so permitted.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">7</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.6.&#160;&#160;&#160;&#160; Sale of Other Notes<a name="_Toc7191087"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Contemporaneously with the Closing, the Fund
shall sell to each other Purchaser, and each other Purchaser shall purchase the
Notes to be purchased by it at the Closing as specified in Schedule A.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.7.&#160;&#160;&#160;&#160; Payment of Special
Counsel Fees<a name="_Toc65959605"></a><a name="_Toc126306052"></a><a name="_Toc7191088"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
Without limiting the provisions of Section&nbsp;15.1, the Fund shall have paid
on or before the Closing the fees, charges and disbursements of the Purchasers&#8217;
special counsel referred to in Section&nbsp;4.4 to the extent reflected in a
statement of such counsel rendered to the Fund at least three Business Days
prior to the Closing.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.8.&#160;&#160;&#160;&#160; Private Placement
Number<a name="_Toc519148606"></a><a name="_Toc519148690"></a><a name="_Toc519149056"></a><a name="_Toc519149162"></a><a name="_Toc519149328"></a><a name="_Toc519149411"></a><a name="_Toc65959606"></a><a name="_Toc126306053"></a><a name="_Toc7191089"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; A private placement number issued by Standard
&amp; Poor&#8217;s CUSIP Service Bureau (in cooperation with the SVO) shall have been
obtained for the Notes.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.9.&#160;&#160;&#160;&#160; Changes in Corporate
Structure<a name="_Toc519148607"></a><a name="_Toc519148691"></a><a name="_Toc519149057"></a><a name="_Toc519149163"></a><a name="_Toc519149329"></a><a name="_Toc519149412"></a><a name="_Toc65959607"></a><a name="_Toc126306054"></a><a name="_Toc7191090"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund shall not have changed its jurisdiction
of incorporation or organization, as applicable, or been a party to any merger
or consolidation or succeeded to all or any substantial part of the liabilities
of any other entity, at any time following the date of the most recent
financial statements referred to in Schedule 5.5.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.10.&#160;&#160;&#160;&#160; Funding Instructions<a name="_Toc65959608"></a><a name="_Toc126306055"></a><a name="_Toc7191091"></a>.&#160;
</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">At least three Business Days prior to the date of the Closing, each
Purchaser shall have received written instructions signed by a Responsible
Officer on letterhead of the Fund confirming the information specified in
Section&nbsp;3 including (i)&nbsp;the name and address of the transferee bank,
(ii)&nbsp;such transferee bank&#8217;s ABA number and (iii)&nbsp;the account name and
number into which the purchase price for the Notes is to be deposited.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 4.11.&#160;&#160;&#160;&#160; Rating of Notes<a name="_Toc126306056"></a><a name="_Toc7191092"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Notes shall have been
given a rating of not less than AAA by Fitch on or prior to the date of
issuance thereof (which evidence shall include the information required by
Section 9.8).&#160; </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.12.&#160;&#160;&#160;&#160; Financing Agreements<a name="_Toc7191093"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; The Financing Agreements (i)&nbsp;shall
have been duly executed and delivered by the parties thereto, (ii)&nbsp;shall
be in full force and effect and (iii)&nbsp;the Purchasers shall have received
true, correct and complete copies of each thereof. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 4.13.&#160;&#160;&#160;&#160; Lien Perfection<a name="_Toc7191094"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">. The Fund shall have delivered to such Purchasers (i)
Uniform Commercial Code, federal tax and judgment lien search reports with
respect to each applicable public office where Liens would customarily be filed
against the Fund disclosing that there are no effective Liens of record in such
official&#8217;s office covering the Fund or any asset or property thereof other than
Permitted Liens and (ii) evidence that duly completed Uniform Commercial Code
financing statements shall have been duly filed (or arrangements therefor acceptable to the Purchasers have been made) in such
office or offices as may be necessary to perfect the holders of Notes&#8217; Liens in
and to such Collateral that can be perfected by filing financing statements.</font></p>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;4.14.&#160;&#160;&#160;&#160; Proceedings and
Documents<a name="_Toc519148608"></a><a name="_Toc519148692"></a><a name="_Toc519149058"></a><a name="_Toc519149164"></a><a name="_Toc519149330"></a><a name="_Toc519149413"></a><a name="_Toc65959609"></a><a name="_Toc126306058"></a><a name="_Toc7191095"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; All corporate and other proceedings in connection
with the transactions contemplated by the Financing Agreements and all
documents and instruments incident to such transactions shall be satisfactory
to such Purchaser and its special counsel, and such Purchaser and its special
counsel shall have received all such counterpart originals or certified or
other copies of such documents as such Purchaser or such special counsel may
reasonably request and shall receive such information as may be reasonably
necessary to complete any Holder Forms.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Representations and Warranties of
the Fund<a name="_Toc519148609"></a><a name="_Toc519148693"></a><a name="_Toc519149059"></a><a name="_Toc519149165"></a><a name="_Toc519149331"></a><a name="_Toc519149414"></a><a name="_Toc65959610"></a><a name="_Toc126306059"></a><a name="_Toc7191096"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Fund represents and warrants to each Purchaser that:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.1.&#160;&#160;&#160;&#160; <a name="_Toc352582204"></a>Organization
and Power<a name="_Toc519148610"></a><a name="_Toc519148694"></a><a name="_Toc519149060"></a><a name="_Toc519149166"></a><a name="_Toc519149332"></a><a name="_Toc519149415"></a><a name="_Toc65959611"></a><a name="_Toc126306060"></a><a name="_Toc7191097"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund (i)&nbsp;is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its organization
and (ii)&nbsp;is duly qualified to do business and in good standing in each
jurisdiction in which the failure to be so qualified could reasonably be
expected to have a Material Adverse Effect. The Fund has all requisite power
and authority to own its property and to carry on its business as now
conducted.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.2.&#160;&#160;&#160;&#160; <a name="_Toc352582205"></a>Authority
and Execution and Binding Agreement<a name="_Toc519148611"></a><a name="_Toc519148695"></a><a name="_Toc519149061"></a><a name="_Toc519149167"></a><a name="_Toc519149333"></a><a name="_Toc519149416"></a><a name="_Toc65959612"></a><a name="_Toc126306061"></a><a name="_Toc7191098"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund has full legal power and authority to enter into, execute, deliver and
perform the terms of the Financing Agreements, all of which have been duly
authorized by all proper and necessary corporate action, and the Fund is in
full compliance with its Organization Documents.&#160; The Fund has duly executed
and delivered the Financing Agreements to which it is a party.&#160; The Financing
Agreements constitute the valid and legally binding obligations of the Fund to
the extent it is a party thereto, enforceable in accordance with their
respective terms, except as such enforceability may be limited by
(i)&nbsp;applicable bankruptcy, insolvency, reorganization, moratorium or other
similar laws affecting the enforcement of creditors&#8217; rights generally and
(ii)&nbsp;general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.3.&#160;&#160;&#160;&#160; Disclosure; No Material
Adverse Change<a name="_Toc519148612"></a><a name="_Toc519148696"></a><a name="_Toc519149062"></a><a name="_Toc519149168"></a><a name="_Toc519149334"></a><a name="_Toc519149417"></a><a name="_Toc65959613"></a><a name="_Toc126306062"></a><a name="_Toc7191099"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
(a)&nbsp;The Fund, through its agent, Bank of America Merrill Lynch, has
delivered to each Purchaser a copy of the Investor Presentation dated April
2019, (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Presentation&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">), relating to the transactions contemplated
hereby.&#160; The Presentation fairly describes, in all material respects, the
general nature of the business and principal properties of the Fund.&#160; This
Agreement, the Presentation, the financial statements listed in Schedule 5.5
and the documents, certificates or other writings delivered to the Purchasers
by or on behalf of the Fund prior to May 24, 2019 in connection with the transactions
contemplated hereby and identified in Schedule&nbsp;5.3 (this Agreement, the
Presentation and such documents, certificates or other writings and such
financial statements delivered to each Purchaser being referred to,
collectively, as the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Disclosure Documents&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">), taken as a whole, do not
contain any untrue statement of a material fact or to the best of the Fund&#8217;s
knowledge omit to state any material fact necessary to make the statements
therein not misleading in light of the circumstances
under which they were made.&#160; Except as disclosed in the Disclosure Documents,
since October 31, 2018, there has been no change in the financial condition,
operations, business or properties of the Fund except changes that,
individually or in the aggregate, would not reasonably be expected to have a
Material Adverse Effect.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">9</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; Since the Measurement Date, the Fund
has conducted its business only in the ordinary course and there has been no
material adverse change in the business, assets or condition, financial (other than
fluctuations in the value of the Fund&#8217;s portfolio securities) or otherwise, of
the Fund, other than redemptions permitted under Section&nbsp;10.4(a), that,
immediately after giving effect thereto, would (individually or in the
aggregate) not cause a Default.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.4.&#160;&#160;&#160;&#160; No Subsidiaries<a name="_Toc519148613"></a><a name="_Toc519148697"></a><a name="_Toc519149063"></a><a name="_Toc519149169"></a><a name="_Toc519149335"></a><a name="_Toc519149418"></a><a name="_Toc65959614"></a><a name="_Toc126306063"></a><a name="_Toc7191100"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund has no Subsidiaries as of the date of Closing.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.5.&#160;&#160;&#160;&#160; Financial Condition<a name="_Toc65959615"></a><a name="_Toc126306064"></a><a name="_Toc7191101"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The statement of assets and liabilities of the Fund as of the Measurement Date
and the related statements of operations and changes in net assets for the
fiscal year then ended, copies of which, certified by independent public
accountants, have heretofore been delivered to each Purchaser and are listed in
Schedule&nbsp;5.5, fairly present, in all material respects, the financial
position of the Fund as of such date and the results of its operations for such
period in conformity with Applicable Accounting Principles.&#160; The Fund does not
have any Material liabilities that are not disclosed in the Disclosure
Documents. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.6.&#160;&#160;&#160;&#160; No Conflict; Compliance<a name="_Toc126306065"></a><a name="_Toc7191102"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; (a)&nbsp;The Fund
is not in default under any mortgage, indenture, contract, agreement, judgment,
decree or order to which it is a party or by which it or any of its property is
bound, which defaults, taken as a whole, could reasonably be expected to have a
Material Adverse Effect.&#160; The execution, delivery or carrying out by the Fund
of the terms of the Financing Agreements, the Notes hereunder, and the use by
the Fund of the proceeds thereof in accordance with the terms hereof (i) will
not (x) violate any statutes or regulations, including the 1940 Act, of any Governmental
Authority applicable to the Fund, or (y) constitute a default under, conflict
with, require any consent under (other than consents which have been obtained),
or result in the creation or imposition of, or obligation to create, any Lien
(other than pursuant to the Security Agreement) upon the property of the Fund
pursuant to the terms of any such mortgage, indenture, contract, agreement,
judgment, decree or order, which defaults, conflicts and consents, if not
obtained, could reasonably be expected to have a Material Adverse Effect, and
(ii) are not inconsistent with the Fundamental Policies or the Organization
Documents.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; The Fund is not in default with
respect to any judgment, order, writ, injunction, decree or decision of any
Governmental Authority, which default could reasonably be expected to have a
Material Adverse Effect.&#160; The Fund is complying with all applicable statutes
and regulations, including the 1940&nbsp;Act and the Securities Act, of all
Governmental Authorities, a violation of which could reasonably be expected to
have a Material Adverse Effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.7.&#160;&#160;&#160;&#160; Approvals and Consents<a name="_Toc7191103"></a><a name="_Toc519148616"></a><a name="_Toc519148700"></a><a name="_Toc519149066"></a><a name="_Toc519149172"></a><a name="_Toc519149338"></a><a name="_Toc519149421"></a><a name="_Toc65959617"></a><a name="_Toc126306066"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
No consent, authorization or approval of, filing (other than the filing of each
financing statement in the form attached to the Security Agreement in the
office indicated on such financing statement) with, notice to, or exemption by,
the holders of any securities issued by the Fund, any
Governmental Authority or any other Person is required to authorize, or is
required in connection with, the execution and delivery by the Fund of, and the
performance by the Fund of its obligations under, the Financing Agreements is
required as a condition to the validity or enforceability of the Financing
Agreements with respect to or against the Fund or its property or assets.&#160; No
provision of any applicable treaty, statute, law (including any applicable
usury or similar law), rule or regulation of any Governmental Authority will
prevent the execution and delivery by the Fund or performance by the Fund of
its obligations under, or affect the validity with respect to or against the
Fund of the Financing Agreements.</font></p>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.8.&#160;&#160;&#160;&#160; Litigation<a name="_Toc126306067"></a><a name="_Toc7191104"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;&#160; There are no
actions, suits or proceedings at law or in equity or by or before any
Governmental Authority (whether purportedly on behalf of the Fund) pending or,
to the knowledge of the Fund, threatened against it, or maintained by it, that
may affect the property or rights of the Fund, which (i)&nbsp;could reasonably
be expected to have a Material Adverse Effect, (ii)&nbsp;call into question the
validity or enforceability of, or otherwise seek to invalidate, any Financing
Agreement, or (iii)&nbsp;might, individually or in the aggregate, materially
adversely affect any of the transactions contemplated by any Financing
Agreement.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.9.&#160;&#160;&#160;&#160; Taxes<a name="_Toc519148618"></a><a name="_Toc519148702"></a><a name="_Toc519149068"></a><a name="_Toc519149174"></a><a name="_Toc519149340"></a><a name="_Toc519149423"></a><a name="_Toc65959619"></a><a name="_Toc126306068"></a><a name="_Toc7191105"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund has filed or caused to be filed all tax returns required to be filed
and has paid, or has made adequate provision for the payment of, all Taxes
shown to be due and payable on said returns or in any assessments made against
it (other than those being contested in good faith and by appropriate
proceedings diligently conducted, and for which adequate reserves have been set
aside in accordance with Applicable Accounting Principles) which, if not so
filed or paid, could reasonably be expected to result in a Material Adverse
Effect, and no tax Liens (other than those permitted by Section&nbsp;10.6(b)</font><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">)
</font></b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">have been filed against the Fund or any of its property.&#160; The charges,
accruals and reserves on the books of the Fund with respect to all federal,
state, local and other Taxes are adequate, and the Fund knows of no unpaid
assessment which is due and payable against it or any claims being asserted
against it which could reasonably be expected to have a Material Adverse
Effect, except such thereof as are being contested in good faith and by
appropriate proceedings diligently conducted, and for which adequate reserves
have been set aside in accordance with Applicable Accounting Principles.&#160; The
U.S. federal income tax liabilities of the Fund have been finally determined
(whether by reason of completed audits or the statute of limitations having
run) for all fiscal years up to and including the fiscal year ended October&nbsp;31,
2017.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.10.&#160;&#160;&#160;&#160; Property<a name="_Toc519148619"></a><a name="_Toc519148703"></a><a name="_Toc519149069"></a><a name="_Toc519149175"></a><a name="_Toc519149341"></a><a name="_Toc519149424"></a><a name="_Toc65959620"></a><a name="_Toc126306069"></a><a name="_Toc7191106"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
(a) The Fund has good and marketable title to all of its property with respect
to which the absence of such marketable title could reasonably be expected to
result in a Material Adverse Effect, subject to no Liens other than Permitted
Liens.&#160; All Material leases are valid and subsisting and are in full force and
effect in all material respects. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; The Security Agreement creates a Lien
upon the items and types of Collateral described therein in which a security
interest may be created under Article 9 of the applicable Uniform Commercial
Code (&#8220;</font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">UCC</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8221;) (the &#8220;</font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Article 9 Collateral</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8221;) owned by the Fund
(subject to Permitted Liens (and subject to the Intercreditor Agreement)) and
the Fund has not assigned, pledged, sold or otherwise conveyed any interest in
the Collateral other than as permitted by the Financing Agreements.</font></p>


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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.11.&#160;&#160;&#160;&#160; Licenses,
Permits, Etc<a name="_Toc519148620"></a><a name="_Toc519148704"></a><a name="_Toc519149070"></a><a name="_Toc519149176"></a><a name="_Toc519149342"></a><a name="_Toc519149425"></a><a name="_Toc65959621"></a><a name="_Toc126306070"></a><a name="_Toc7191107"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund owns or possesses all licenses, permits,
franchises, authorizations, patents, copyrights, proprietary software, service
marks, trademarks and trade names, or rights thereto, that individually or in
the aggregate are Material, without known conflict with the rights of others,
except for those conflicts that, individually or in the aggregate, would not
have a Material Adverse Effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.12.&#160;&#160;&#160;&#160; Compliance with ERISA<a name="_Toc519148621"></a><a name="_Toc519148705"></a><a name="_Toc519149071"></a><a name="_Toc519149177"></a><a name="_Toc519149343"></a><a name="_Toc519149426"></a><a name="_Toc65959622"></a><a name="_Toc126306071"></a><a name="_Toc7191108"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
Neither the Fund nor any ERISA Affiliate maintains, contributes to or is
obligated to maintain or contribute to, or has, at any time in the past six
years, maintained, contributed to or been obligated to maintain or contribute
to, any employee benefit plan which is subject to Title&nbsp;I or Title&nbsp;IV
of ERISA or Section 4975 of the Code.&#160; Neither the Fund nor any ERISA Affiliate
is, or has ever been at any time within the past six years, a &#8220;party in
interest&#8221; (as defined in section&nbsp;3(14) of ERISA) or a &#8220;disqualified
person&#8221; (as defined in Section&nbsp;4975 of the Code) with respect to any such
plan.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.13.&#160;&#160;&#160;&#160; Private Offering by the
Fund<a name="_Toc519148622"></a><a name="_Toc519148706"></a><a name="_Toc519149072"></a><a name="_Toc519149178"></a><a name="_Toc519149344"></a><a name="_Toc519149427"></a><a name="_Toc65959623"></a><a name="_Toc126306072"></a><a name="_Toc7191109"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Neither the Fund nor anyone acting on its behalf
has offered the Notes or any similar Securities for sale to, or solicited any
offer to buy the Notes or any similar Securities from, or otherwise approached
or negotiated in respect thereof with, more than 10 Persons, all of which were
Institutional Investors, including the Purchasers, each of which has been
offered the Notes or similar Securities at a private sale for investment.&#160;
Neither the Fund nor anyone acting on its behalf has taken, or will take, any action
that would subject the issuance or sale of the Notes to the registration
requirements of section 5 of the Securities Act or to the registration
requirements of any securities or blue sky laws of any applicable jurisdiction</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.14.&#160;&#160;&#160;&#160; Use of Proceeds; Margin
Regulations<a name="_Toc519148623"></a><a name="_Toc519148707"></a><a name="_Toc519149073"></a><a name="_Toc519149179"></a><a name="_Toc519149345"></a><a name="_Toc519149428"></a><a name="_Toc65959624"></a><a name="_Toc126306073"></a><a name="_Toc7191110"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund will apply the proceeds of the sale of the Notes as permitted under
the 1940 Act including for the refinancing of existing Indebtedness, making new
portfolio investments and for general corporate purposes. &#160;No part of the
proceeds from the sale of the Notes hereunder will be used, directly or
indirectly, for the purpose of buying or carrying any margin stock within the
meaning of Regulation&nbsp;U of the Board of Governors of the Federal Reserve
System (12 CFR 221), or for the purpose of buying or carrying or trading in any
Securities under such circumstances as to involve the Fund in a violation of
Regulation&nbsp;X of said Board (12 CFR 224) or to involve any broker or dealer
in a violation of Regulation&nbsp;T of said Board (12 CFR 220).&#160; Margin stock
does not constitute any of the value of the consolidated assets of the Fund and
its Subsidiaries and the Fund does not have any present intention that margin stock
will constitute any of the value of such assets. &#160;As used in this Section, the
terms </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;margin stock&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> and </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;purpose of buying or carrying&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> shall
have the meanings assigned to them in said Regulation&nbsp;U.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.15.&#160;&#160;&#160;&#160; Existing Indebtedness<a name="_Toc519148624"></a><a name="_Toc519148708"></a><a name="_Toc519149074"></a><a name="_Toc519149180"></a><a name="_Toc519149346"></a><a name="_Toc519149429"></a><a name="_Toc65959625"></a><a name="_Toc126306074"></a><a name="_Toc7191111"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
(a)&nbsp;Except as described therein, Schedule 5.15 sets forth a complete and
correct list of all outstanding Indebtedness of the Fund as of June 19, 2019</font><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
</font></b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(including a description of the obligors and obligees, principal amount
outstanding and collateral therefor, if any, and Guarantee thereof, if any),
since which date there has been no material change in the amounts, interest
rates, sinking funds, installment payments or maturities of the Indebtedness of
the Fund.&#160; The Fund is not in default and no waiver of default is currently in
effect, in the payment of any principal or interest on any Indebtedness of the
Fund and no event or condition exists with respect to any Indebtedness of the
Fund the outstanding principal amount of which exceeds
$5,000,000 that would permit (or that with notice or the lapse of time, or
both, would permit) one or more Persons to cause such Indebtedness to become
due and payable before its stated maturity or before its regularly scheduled
dates of payment. </font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">12</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; Except as permitted by the Security
Agreement (which, for the avoidance of doubt, permits Permitted Liens), the
Fund has not agreed or consented to cause or permit in the future (upon the
happening of a contingency or otherwise) any of its property, whether now owned
or hereafter acquired, to be subject to a Lien. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160; The Fund is not a party to, or
otherwise subject to any provision contained in, any instrument evidencing
Indebtedness of the Fund, any agreement relating thereto or any other agreement
or statute (including, but not limited to, its charter or other organizational
document) which limits the amount of, or otherwise imposes restrictions on the
incurring of, Indebtedness of the Fund, except for the 1940 Act, state
securities laws to the extent applicable, Fundamental Policies, the
Organization Documents or as specifically indicated in Schedule&nbsp;5.15.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.16.&#160;&#160;&#160;&#160; Foreign Assets Control
Regulations, Etc<a name="_Toc519148625"></a><a name="_Toc519148709"></a><a name="_Toc519149075"></a><a name="_Toc519149181"></a><a name="_Toc519149347"></a><a name="_Toc519149430"></a><a name="_Toc65959626"></a><a name="_Toc126306075"></a><a name="_Toc7191112"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
(a)&#160; Neither the Fund nor any Controlled Entity (i) is a Blocked Person, (ii)
has been notified that its name appears or may in the future appear on a State
Sanctions List or (iii) is a target of sanctions that have been imposed by the
United Nations, Canada or the European Union.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; Neither the Fund nor any Controlled
Entity (i) has violated, been found in violation of, or been charged or
convicted under, any applicable U.S. Economic Sanctions Laws, Canadian Economic
Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws or (ii) to
the Fund&#8217;s knowledge, is under investigation by any Governmental Authority for
possible violation of any U.S. Economic Sanctions Laws, Canadian Economic
Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160; No part of the proceeds from the sale
of the Notes hereunder:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160; constitutes or will constitute
funds obtained on behalf of any Blocked Person or will otherwise be used by the
Fund or any Controlled Entity, directly or indirectly, (A) in connection with
any investment in, or any transactions or dealings with, any Blocked Person,
(B) for any purpose that would cause any Purchaser to be in violation of any
U.S. Economic Sanctions Laws or Canadian Economic Sanctions Laws, or (C)
otherwise in violation of any U.S. Economic Sanctions Laws or Canadian Economic
Sanctions Laws;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160;&#160;&#160;&#160;&#160; will be used, directly or
indirectly, in violation of, or cause any Purchaser to be in violation of, any
applicable Anti-Money Laundering Laws; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iii)&#160;&#160;&#160;&#160;&#160; will be used, directly or
indirectly, for the purpose of making any improper payments, including bribes,
to any Governmental Official or commercial counterparty in order to obtain,
retain or direct business or obtain any improper advantage, in each case which
would be in violation of, or cause any Purchaser to be in violation of, any
applicable Anti-Corruption Laws.</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">13</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
<a name="page_15"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160; The Fund has
established procedures and controls which it reasonably believes are adequately
designed (and otherwise comply with applicable law) to prevent violation by the
Fund and each Controlled Entity of all applicable U.S. Economic Sanctions Laws,
Canadian Economic Sanctions Laws, Anti-Money Laundering Laws and
Anti-Corruption Laws.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.17.&#160;&#160;&#160;&#160; Investment Company
Status<a name="_Toc519148626"></a><a name="_Toc519148710"></a><a name="_Toc519149076"></a><a name="_Toc519149182"></a><a name="_Toc519149348"></a><a name="_Toc519149431"></a><a name="_Toc65959627"></a><a name="_Toc126306076"></a><a name="_Toc7191113"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; </font><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The
Fund has the following status (&#8220;</font><i><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Status</font></i><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8221;): (i)&nbsp;it qualifies as a
Regulated Investment Company, (ii)&nbsp;it is a &#8220;registered investment company&#8221;
within the meaning of Section 8 of the 1940 Act, (iii)&nbsp;it is a &#8220;closed-end
company&#8221; and a &#8220;non-diversified company&#8221; in each case within the meaning of
Section 5 of the 1940 Act, (iv)&nbsp;it is neither an &#8220;affiliate&#8221; (within the
meaning of Section 23A of the Federal Reserve Act, as amended) of, nor an &#8220;affiliated
person&#8221; (as defined in Section&nbsp;2(a)(3) of the 1940 Act) of, any Purchaser,
and (v)&nbsp;it is in compliance with its Organization Documents. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The
Fund is not subject to any statute, rule, regulation or organizational or
offering document which prohibits or limits the incurrence of Indebtedness
under the Financing Agreements, except for the limitations set forth in the
1940 Act, state securities laws to the extent applicable, Fundamental Policies
and the Organization Documents.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The
Fund has not issued any of its securities in violation of any Federal or State
securities laws applicable thereto, except to the extent that any such
violation could not reasonably be expected to have a Material Adverse Effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The
Fund is not subject to the Public Utility Holding Company Act of 2005, the ICC
Termination Act of 1995, or the Federal Power Act.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.18.&#160;&#160;&#160;&#160; Ranking of Obligations<a name="_Toc65959628"></a><a name="_Toc126306077"></a><a name="_Toc7191114"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund&#8217;s payment obligations under the Financing Agreements shall at all
times rank senior to all unsecured and unsubordinated Indebtedness and senior
to any Preferred Stock issued by the Fund and at least </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">pari passu</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">,
without preference or priority, with all other secured Indebtedness (including
the Indebtedness under the Credit Agreement, the 2013 Notes, the 2017A Notes
and the 2017B Notes).</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 5.19.&#160;&#160;&#160;&#160; Security Interests<a name="_Toc195014222"></a><a name="_Toc197072139"></a><a name="_Toc7191115"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;&#160;
On the date of the Closing, (a) all necessary and appropriate financing
statements are in appropriate form for filing so that, once filed with the
offices described in Schedule&nbsp;5.19, the Lien granted under the Security
Agreement will constitute a perfected Lien (subject to Permitted Liens (and
subject to the Intercreditor Agreement)) on all right, title and interest of
the Fund in the Article 9 Collateral that may be perfected by filing, (b) </font><font face=times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">the Lien granted
under the Security Agreement will constitute a perfected Lien (subject to
Permitted Liens </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(and subject to the Intercreditor Agreement)</font><font face=times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">) on all right,
title and interest of the Fund in the Collateral that is subject thereto to the
extent such Lien may be perfected by control of the Collateral Agent, and (c)</font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
the Security Agreement creates in favor of the Collateral Agent, for the
ratable benefit of the holders of the Notes, a legal, valid and enforceable
security interest in all right, title and interest of the Fund in the Article 9
Collateral (subject to Permitted Liens (and subject to the Intercreditor
Agreement)).</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;5.20.&#160;&#160;&#160;&#160; Material Agreements<a name="_Toc7191116"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Custody Agreement is in full force and
effect in all material respects.&#160; All agreements between the Fund and Aberdeen
Standard Investments Australia Limited or Aberdeen
Standard Investments (Asia) Limited are in full force and effect, except to the
extent that failure of any such agreement to be in full force and effect could
not reasonably be expected to have a Material Adverse Effect.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">14</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Representations of the Purchasers<a name="_Toc519148627"></a><a name="_Toc519148711"></a><a name="_Toc519149077"></a><a name="_Toc519149183"></a><a name="_Toc519149349"></a><a name="_Toc519149432"></a><a name="_Toc65959629"></a><a name="_Toc126306078"></a><a name="_Toc7191117"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;6.1.&#160;&#160;&#160;&#160; Purchase for Investment<a name="_Toc7191118"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; (a)&nbsp;Each Purchaser severally represents
that it is purchasing the Notes for its own account or for one or more separate
accounts maintained by such Purchaser or for the account of one or more pension
or trust funds and not with a view to the distribution thereof, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
that the disposition of such Purchaser&#8217;s or their property shall at all times
be within such Purchaser&#8217;s or their control.&#160; Each Purchaser understands that
the Notes have not been registered under the Securities Act and may be resold
only if registered pursuant to the provisions of the Securities Act or if an
exemption from registration is available, except under circumstances where
neither such registration nor such an exemption is required by law, and that
the Fund is not required to register the Notes.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; Each Purchaser (and any account which
is a separate legal entity contemplated in Section&nbsp;6.1(a)) is an
&#8220;accredited investor&#8221; as defined in Rule&nbsp;501(a) promulgated under the
Securities Act.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section 6.2.&#160;&#160;&#160;&#160; &#160; Source of Funds<a name="_Toc494522709"></a><a name="_Toc104017509"></a><a name="_Toc108525444"></a><a name="_Toc7191119"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Each Purchaser severally represents that at least
one of the following statements is an accurate representation as to each source
of funds (a </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Source&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">) to be used by such Purchaser to pay the purchase
price of the Notes to be purchased by such Purchaser hereunder:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; the
Source is an &#8220;insurance company general account&#8221; (as the term is defined in the
United States Department of Labor&#8217;s Prohibited Transaction Exemption (</font><i><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;PTE&#8221;</font></i><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">)
95&#8209;60) in respect of which the reserves and liabilities (as defined by
the annual statement for life insurance companies approved by the NAIC (the </font><i><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;NAIC
Annual Statement&#8221;</font></i><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">)) for the general account contract(s) held by or on
behalf of any employee benefit plan together with the amount of the reserves and
liabilities for the general account contract(s) held by or on behalf of any
other employee benefit plans maintained by the same employer (or affiliate
thereof as defined in PTE 95&#8209;60) or by the same employee organization in
the general account do not exceed 10% of the total reserves and liabilities of
the general account (exclusive of separate account liabilities) plus surplus as
set forth in the NAIC Annual Statement filed with such Purchaser&#8217;s state of
domicile; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; the
Source is a separate account that is maintained solely in connection with such
Purchaser&#8217;s fixed contractual obligations under which the amounts payable, or
credited, to any employee benefit plan (or its related trust) that has any
interest in such separate account (or to any participant or beneficiary of such
plan (including any annuitant)) are not affected in any manner by the
investment performance of the separate account; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160;&#160; the
Source is either (i)&nbsp;an insurance company pooled separate account, within
the meaning of PTE 90&#8209;1 or (ii)&nbsp;a bank collective investment fund,
within the meaning of the PTE 91&#8209;38 and, except
as disclosed by such Purchaser to the Fund in writing pursuant to this
clause&nbsp;(c), no employee benefit plan or group of plans maintained by the
same employer or employee organization beneficially owns more than 10% of all
assets allocated to such pooled separate account or collective investment fund;
or</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">15</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160;&#160; </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">the
Source constitutes assets of an &#8220;investment fund&#8221; (within the meaning of Part
VI of PTE 84-14 (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;QPAM Exemption&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">)) managed by a &#8220;qualified
professional asset manager&#8221; or &#8220;QPAM&#8221; (within the meaning of Part VI of the
QPAM Exemption), no employee benefit plan&#8217;s assets that are managed by the QPAM
in such investment fund, when combined with the assets of all other employee
benefit plans established or maintained by the same employer or by an affiliate
(within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or
by the same employee organization and managed by such QPAM, represent more than
20% of the total client assets managed by such QPAM, the conditions of Part
I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a person
controlling or controlled by the QPAM maintains an ownership interest in the
Fund that would cause the QPAM and the Fund to be &#8220;related&#8221; within the meaning
of Part VI(h) of the QPAM Exemption and (i) the identity of such QPAM and (ii)
the names of any employee benefit plans whose assets in the investment fund,
when combined with the assets of all other employee benefit plans established
or maintained by the same employer or by an affiliate (within the meaning of
Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee
organization, represent 10% or more of the assets of such investment fund, have
been disclosed to the Fund in writing pursuant to this clause (d)</font><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(e)&#160;&#160;&#160;&#160;&#160; the
Source constitutes assets of a &#8220;plan(s)&#8221; (within the meaning of Part IV(h) of
PTE 96-23 (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;INHAM Exemption&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">)) managed by an &#8220;in-house asset
manager&#8221; or &#8220;INHAM&#8221; (within the meaning of Part IV(a) of the INHAM Exemption),
the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied,
neither the INHAM nor a Person controlling or controlled by the INHAM (applying
the definition of &#8220;control&#8221; in Part IV(d)(3) of the INHAM Exemption) owns a 10%
or more interest in the Fund and (i) the identity of such INHAM and (ii) the
name(s) of the employee benefit plan(s) whose assets constitute the Source have
been disclosed to the Fund in writing pursuant to this clause (e); or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (f)&#160;&#160;&#160;&#160;&#160; the
Source is a governmental plan; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (g)&#160;&#160;&#160;&#160;&#160; the
Source is one or more employee benefit plans, or a separate account or trust
fund comprised of one or more employee benefit plans, each of which has been
identified to the Fund in writing pursuant to this clause (g); or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (h)&#160;&#160;&#160;&#160;&#160; the
Source does not include assets of any employee benefit plan, other than a plan
exempt from the coverage of ERISA.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">As used in this Section 6.2,
the terms &#8220;employee benefit plan,&#8221; &#8220;governmental plan,&#8221; and &#8220;separate account&#8221;
shall have the respective meanings assigned to such terms in section 3 of
ERISA. </font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">16</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
<a name="page_18"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Information
as to the Fund<a name="_Toc519148630"></a><a name="_Toc519148714"></a><a name="_Toc519149080"></a><a name="_Toc519149186"></a><a name="_Toc519149352"></a><a name="_Toc519149435"></a><a name="_Toc65959632"></a><a name="_Toc126306079"></a><a name="_Toc7191120"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.1.&#160;&#160;&#160;&#160; Financial
and Business Information<a name="_Toc519148631"></a><a name="_Toc519148715"></a><a name="_Toc519149081"></a><a name="_Toc519149187"></a><a name="_Toc519149353"></a><a name="_Toc519149436"></a><a name="_Toc65959633"></a><a name="_Toc126306080"></a><a name="_Toc7191121"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund shall deliver or cause to be delivered to each holder of Notes that is
an Institutional Investor:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Semi-Annual Statements</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212;
within 90 days (or such shorter period as is the earlier of (x) 15&nbsp;days
greater than the period applicable to the filing of the Fund&#8217;s semi-annual
report on Form N-CSR (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Form N-CSR&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">) with the SEC regardless of
whether the Fund is subject to the filing requirements thereof and (y) the date
by which such financial statements are required to be delivered under any
Material Credit Facility or the date on which such corresponding financial
statements are delivered under any Material Credit Facility if such delivery
occurs earlier than such required delivery date) after the end of each semi-annual
fiscal period in each fiscal year of the Fund (other than the last semi-annual
fiscal period of each such fiscal year), duplicate copies of,</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:27.0pt;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; an
unaudited balance sheet of the Fund, as at the end of such semi&#8209;annual
fiscal period, and</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160;&#160;&#160;&#160;&#160; unaudited statements of
operations and changes in net assets of the Fund, for the portion of the fiscal
year ending with such semi-annual fiscal period,</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">setting forth in each case in comparative form the
figures for the corresponding period in the previous fiscal year, all in
reasonable detail, prepared in accordance with Applicable Accounting Principles
applicable to semi-annual financial statements generally, and certified by a
Senior Financial Officer as fairly presenting, in all material respects, the financial
position of the Fund and its results of operations and cash flows, subject to
changes resulting from year&#8209;end adjustments;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Annual Statements</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212; within
90 days (or such shorter period as is the earlier of (x) 15&nbsp;days greater
than the period applicable to the filing of the Fund&#8217;s Annual Report on
Form&nbsp;N-CSR with the SEC regardless of whether the Fund is subject to the
filing requirements thereof and (y) the date by which such financial statements
are required to be delivered under any Material Credit Facility or the date on
which such corresponding financial statements are delivered under any Material
Credit Facility if such delivery occurs earlier than such required delivery
date) after the end of each fiscal period in each fiscal year of the Fund,
duplicate copies of,</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160; a balance sheet and schedule of
investments of the Fund, as at the end of such year, and</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160;&#160;&#160;&#160;&#160; statements of operations and
changes in net assets of the Fund, for such year,</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">setting forth in each case in comparative form the figures
for the corresponding periods in the previous fiscal year, all in reasonable
detail, prepared in accordance with Applicable Accounting Principles, and
accompanied by an opinion thereon of independent public accountants
of recognized national standing, which opinion shall state that such financial
statements present fairly, in all material respects, the financial position of
the Fund and its results of operations and have been prepared in conformity
with Applicable Accounting Principles, and that the examination of such
accountants in connection with such financial statements has been made in
accordance with generally accepted auditing standards, and that such audit
provides a reasonable basis for such opinion in the circumstances;</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">17</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">SEC and Other Reports</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212;
promptly upon their becoming available:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160; one copy of each semi-annual or
annual financial statement, each regular or periodic report sent to the Fund&#8217;s
stockholders, each notice sent to the Fund&#8217;s stockholders, each proxy statement
and similar document filed with the SEC, each registration statement that shall
have become effective (without exhibits except as expressly requested by such
holder) and each final prospectus and all amendments thereto filed by the Fund
with the SEC; and</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160;&#160;&#160;&#160;&#160; if requested by a holder of
Notes, each financial statement, report or notice sent by the Fund to its
principal lending banks as a whole (excluding information sent to such banks in
the ordinary course of administration of a bank facility, such as information relating
to pricing and borrowing availability) or to any NRSRO;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Notice of Default or Event of
Default</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212; promptly, and in any event within five days after a Responsible
Officer becomes aware of the existence of any Default or Event of Default, a
written notice sent in accordance with Section 18 specifying the nature and
period of existence thereof and what action the Fund is taking or proposes to
take with respect thereto;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (e)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">ERISA Matters</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212; promptly,
and in any event within five days after a Responsible Officer becomes aware of
any of the following, a written notice setting forth the nature thereof and the
action, if any, that the Fund or an ERISA Affiliate proposes to take with
respect thereto:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160; with respect to any Plan, any
reportable event, as defined in section&nbsp;4043(c) of ERISA and the
regulations thereunder, for which notice thereof has not been waived pursuant
to such regulations as in effect on the date hereof; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160;&#160;&#160;&#160;&#160; the taking by the PBGC of steps
to institute, or the threatening by the PBGC of the institution of, proceedings
under section&nbsp;4042 of ERISA for the termination of, or the appointment of
a trustee to administer, any Plan, or the receipt by the Fund or any ERISA
Affiliate of a notice from a Multiemployer Plan that such action has been taken
by the PBGC with respect to such Multiemployer Plan; or</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">18</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iii)&#160;&#160;&#160;&#160;&#160; any
event, transaction or condition that could result in the incurrence of any
liability by the Fund or any ERISA Affiliate pursuant to Title I or IV of ERISA
or the penalty or excise tax provisions of the Code relating to employee
benefit plans, or in the imposition of any Lien on any of the rights,
properties or assets of the Fund or any ERISA Affiliate pursuant to Title I or
IV of ERISA or such penalty or excise tax provisions, if such liability or
Lien, taken together with any other such liabilities or Liens then existing,
would reasonably be expected to have a Material Adverse Effect; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iv)&#160;&#160;&#160;&#160;&#160; receipt of notice of the
imposition of a Material financial penalty (which for this purpose shall mean
any tax, penalty or other liability, whether by way of indemnity or otherwise)
with respect to one or more Non-U.S. Plans;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (f)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Resignation or Replacement of
Auditors</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212; within 10 days following the date on which the Fund&#8217;s auditors
resign or the Fund elects to change auditors, as the case may be, notification
thereof (which shall hereby be satisfied by delivery of the Fund&#8217;s next annual
or semi-annual report, the filing of the Fund&#8217;s next Form N&#8209;SAR, the
filing of a Form 8&#8209;k or the filing of a comparable filing, so long as
such filing contains the information that would have been included in the
notification and is made public on the SEC&#8217;s EDGAR website or the Fund&#8217;s
website, whether or not such filing is filed within the 10 days following the
date on which the Fund&#8217;s auditor resigns), together with such further
information as the Required Holders may request; and</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (g)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Compliance Certification</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212;
as of and within twenty (20) Business Days after each Valuation Date, a
certificate of a Senior Financial Officer setting forth the information
(including detailed calculations) required in order to establish whether the
Fund was in compliance with the requirements of Section 9.7 (including, where
applicable, the calculations of the maximum or minimum amount, ratio or
percentage); and&#160; </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (h)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Requested Information</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212;
with reasonable promptness, such other&#160; data and information relating to the
business, operations, affairs, financial condition, assets or properties of the
Fund (including, without limitation, actual copies of the semi-annual and
annual reports of the Fund) or relating to the ability of the Fund to perform
its obligations under each Financing Agreement and under the Notes as from time
to time may be reasonably requested in writing by such holder of Notes
(including any such information as may be reasonably necessary to complete any
Holder Forms).</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.2.&#160;&#160;&#160;&#160; Officer&#8217;s Certificate<a name="_Toc519148632"></a><a name="_Toc519148716"></a><a name="_Toc519149082"></a><a name="_Toc519149188"></a><a name="_Toc519149354"></a><a name="_Toc519149437"></a><a name="_Toc65959634"></a><a name="_Toc126306081"></a><a name="_Toc7191122"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
Each set of financial statements delivered to a holder of Notes pursuant to
Section 7.1(a) or Section&nbsp;7.1(b) shall be accompanied by a certificate of
a Senior Financial Officer setting forth (delivered in the same format as such
financial statements):</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Covenant Compliance </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8212; the
information (including detailed calculations) required in order to establish
whether the Fund was in compliance with the requirements of Sections&nbsp;9.7
and 11(o) during the semi-annual or annual period covered by the statements
then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum
amount, ratio or percentage, as the case may be, permissible under the terms of
such Sections, and the calculation of the amount, ratio or percentage then in
existence). In the event that the Fund has made an election to measure any
financial liability using fair value (which election is being disregarded for
purposes of determining compliance with this Agreement pursuant to Section
22.2) as to the period covered by any such financial statement, such Senior
Financial Officer&#8217;s certificate as to such period shall include a
reconciliation from GAAP with respect to such election; and</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">19</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Event of Default</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212;
certifying that such Senior Financial Officer has reviewed the relevant terms
hereof and has made, or caused to be made, under his or her supervision, a
review of the transactions and conditions of the Fund from the beginning of the
semi&#8209;annual or annual period covered by the statements then being
furnished to the date of the certificate and that such review shall not have
disclosed the existence during such period of any condition or event that
constitutes a Default or an Event of Default or, if any such condition or event
existed or exists, specifying the nature and period of existence thereof and
what action the Fund shall have taken or proposes to take with respect thereto.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;7.3.&#160;&#160;&#160;&#160; Visitation<a name="_Toc519148633"></a><a name="_Toc519148717"></a><a name="_Toc519149083"></a><a name="_Toc519149189"></a><a name="_Toc519149355"></a><a name="_Toc519149438"></a><a name="_Toc65959635"></a><a name="_Toc126306082"></a><a name="_Toc7191123"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund shall permit the representatives of each holder of Notes that is an
Institutional Investor:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">No Default</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212; if no Default
or Event of Default then exists, at the expense of such holder and upon
reasonable prior notice to the Fund, to visit the principal executive office of
the Fund, to discuss the affairs, finances and accounts of the Fund with the Fund&#8217;s
officers, and, with the consent of the Fund (which consent will not be
unreasonably withheld) to visit the other offices and properties of the Fund,&#160;
all at such reasonable times and as often as may be reasonably requested in
writing; and</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Default</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> &#8212; if a Default or
Event of Default then exists, at the expense of the Fund to visit and inspect
any of the offices or properties of the Fund, to examine all their respective
books of account, records, reports and other papers, to make copies and extracts
therefrom, and to discuss their respective affairs, finances and accounts with
their respective officers and independent public accountants (and by this
provision the Fund authorizes said accountants to discuss the affairs, finances
and accounts of the Fund), all at such times and as often as may be requested.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 7.4.&#160;&#160;&#160;&#160; Electronic Delivery<a name="_Toc448499186"></a><a name="_Toc7191124"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Financial
statements, opinions of independent certified public accountants, other
information and Officer&#8217;s Certificates that are required to be delivered by the
Fund pursuant to Sections 7.1(a), (b) or (c) and Section 7.2 shall be deemed to
have been delivered if the Fund satisfies any of the following requirements
with respect thereto:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; such financial statements
satisfying the requirements of Section 7.1(a) or (b) and related Officer&#8217;s
Certificate satisfying the requirements of Section 7.2 and any other
information required under Section 7.1(c) are delivered to each holder of a
Note by e-mail at the e-mail address set forth in such
holder&#8217;s Schedule A or as communicated from time to time in a separate writing
delivered to the Fund; </font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">20</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; the Fund shall have timely filed
such Form&nbsp;N-CSR, satisfying the requirements of Section 7.1(a) or Section
7.1(b), as the case may be, with the SEC on EDGAR and shall have made such form
and the related Officer&#8217;s Certificate satisfying the requirements of Section
7.2 available on its home page on the internet in downloadable, printable form,
which is located at http://aberdeenfax.com as of the date of this Agreement; </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160;&#160; such financial statements
satisfying the requirements of Section 7.1(a) or Section 7.1(b) and related
Officer&#8217;s Certificate(s) satisfying the requirements of Section 7.2 and any
other information required under Section 7.1(c) are timely posted by or on
behalf of the Fund on IntraLinks or on any other similar website to which each
holder of Notes has free access in downloadable, printable form; or </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160;&#160; the Fund shall have timely filed
any of the items referred to in Section 7.1(c) with the SEC on EDGAR and shall
have made such items available on its home page on the internet or on
IntraLinks or on any other similar website to which each holder of Notes has
free access in downloadable, printable form;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided however,</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that in no case shall access to
such financial statements, other information and Officer&#8217;s Certificates be
conditioned upon any waiver or other agreement or consent (other than
confidentiality provisions consistent with Section 20 of this Agreement); </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided
further</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">, that in the case of any of clauses (b), (c) or (d), the Fund shall
have given each holder of a Note prior written notice, which may be by e-mail
or in accordance with Section 18, of such posting or filing in connection with
each delivery, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided further,</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that upon request of any holder to
receive paper copies of such forms, financial statements, other information and
Officer&#8217;s Certificates or to receive them by e-mail, the Fund will promptly
e-mail them or deliver such paper copies, as the case may be, to such holder.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:auto;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payment
and Prepayment of the Notes<a name="_Toc519148634"></a><a name="_Toc519148718"></a><a name="_Toc519149084"></a><a name="_Toc519149190"></a><a name="_Toc519149356"></a><a name="_Toc519149439"></a><a name="_Toc65959636"></a><a name="_Toc126306083"></a><a name="_Toc7191125"></a></font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.1.&#160;&#160;&#160;&#160; Maturity and Payment<a name="_Toc7191126"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; As provided therein, the entire unpaid
principal balance of the Notes shall be due and payable on the Maturity Date.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.2.&#160;&#160;&#160;&#160; Optional Prepayments
with Make&#8209;Whole Amount and Special Optional Prepayments<a name="_Toc7191127"></a>.</font></i></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; Section 8.2.1.&#160;&#160;&#160;&#160; Optional Prepayments of the
Notes with Make-Whole Amount<a name="_Toc7191128"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund may, at its option, in accordance with
the provisions of this Section&nbsp;8.2.1 and to the extent prepayment of the
Notes (specifically including the applicable Make&#8209;Whole Amount and
accrued interest on the Notes) is permitted under the 1940 Act and Maryland
law, upon notice as provided below, prepay at any time all, or from time to
time any part of, the Notes in an amount not less than 5% of the aggregate
principal amount of the Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so
prepaid, together with interest accrued thereon to the date of such prepayment,
and the Make&#8209;Whole Amount determined for the prepayment date with respect
to such principal amount.&#160; The Fund will give each holder of the Notes written
notice of each optional prepayment under this Section&nbsp;8.2.1 not less than
12&nbsp;days (or 7&nbsp;days in the case of any notice of prepayment in
connection with a prepayment to cure any Default under Section&nbsp;9.7(a) or
9.7(b), or both) and not more than 75&nbsp;days prior to the date fixed for
such prepayment.&#160; Each such notice shall specify such date on which the
prepayment is scheduled to occur (which shall be a Business Day), the aggregate
principal amount of the Notes to be prepaid on such date, the principal amount
of each Note held by such holder to be prepaid (determined in accordance with
Section&nbsp;8.3), and the interest to be paid on the prepayment date with
respect to such principal amount being prepaid, and shall be accompanied by a
certificate of a Senior Financial Officer as to the estimated Make&#8209;Whole
Amount due in connection with such prepayment (calculated as if the date of
such notice were the date of the prepayment), setting forth the details of such
computation.&#160; Two Business Days prior to such prepayment date, the Fund shall
deliver to each holder of Notes a certificate of a Senior Financial Officer
specifying the calculation of such Make&#8209;Whole Amount as of the specified
prepayment date.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">21</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; Section 8.2.2.&#160;&#160;&#160;&#160; Special Optional Prepayments<a name="_Toc7191129"></a>.&#160; </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">If the 1940 Act Senior Notes Asset
Coverage is less than or equal to 325%, for any five&nbsp;(5) Business Days
within a ten (10) Business Day period determined on the basis of values
calculated as of a time within 48 hours (not including Sundays or holidays)
next preceding the time of such determination within the ten (10) Business Day
period, the Fund may, at its option, and to the extent prepayment of the Notes
(specifically including the applicable Make&#8209;Whole Amount (referred to
below) and accrued interest on the Notes) in accordance with the provisions of
this Section&nbsp;8.2.2 is permitted under the 1940 Act and Maryland law, upon
notice as provided below, prepay all or any part of the Notes at 100% of the
principal amount so prepaid, together with interest accrued thereon to the date
of such prepayment, and the Make&#8209;Whole Amount (referred to below)
determined for the prepayment date with respect to such principal amount.&#160;
Notwithstanding anything to the contrary set forth herein, the Make-Whole
Amount for the Notes prepaid pursuant to this Section&nbsp;8.2.2 shall be equal
to two percent (2%) of the principal amount so prepaid; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided, however, </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">that
(a)&nbsp;the principal amount of Notes to be prepaid pursuant to this
Section&nbsp;8.2.2 shall at no time exceed an amount which results in a 1940
Act Senior Note Asset Coverage of more than 340% pro forma for such prepayment,
determined on the basis of values calculated as of a time within 48 hours (not
including Sundays or holidays) next preceding the time of such determination,
(b)</font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">immediately after giving effect to such prepayment, the
aggregate amount of Indebtedness for borrowed money of the Fund shall be less
than the aggregate amount of Indebtedness for borrowed money of the Fund
immediately prior to such prepayment by the amount of Notes so prepaid and (c)&nbsp;the
Fund may not borrow under its revolving credit facility immediately prior to
such prepayment for the purpose of financing such prepayment.&#160; The Fund will
give each holder of the Notes being prepaid pursuant to this Section&nbsp;8.2.2
written notice of each optional prepayment under this Section&nbsp;8.2.2 not
less than 12&nbsp;days and not more than 75&nbsp;days prior to the date fixed
for such prepayment.&#160; Each such notice shall specify such date on which the
prepayment is scheduled to occur (which shall be a Business Day), the aggregate
principal amount of the Notes to be prepaid on such date, the principal amount
of each Note held by such holder to be prepaid (determined in accordance with
Section&nbsp;8.3), and the interest to be paid on the
prepayment date with respect to such principal amount being prepaid, and the
Make&#8209;Whole Amount due in connection with such prepayment.</font></p>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.2.3.&#160;&#160;&#160;&#160; Prepayments of Notes One
Month Prior to Maturity at Par<a name="_Toc7191130"></a>. </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;Notwithstanding anything contained herein
to&#160; the contrary, so long as no Default or Event of Default exists, the Fund
may, at its option, upon notice as provided below redeem all of the Notes on or
after the date which is 30 days prior to Maturity Date of the Notes at 100% of
the principal amount of such Notes, together with interest on such Notes
accrued to the date of prepayment and without any Make&#8209;Whole Amount.&#160; The
Fund will give each holder of Notes subject to such redemption written notice of
each optional prepayment under this Section&nbsp;8.2.3 not less than
12&nbsp;days and not more than 75&nbsp;days prior to the date fixed for such
prepayment.&#160; Each such notice shall specify such date on which the prepayment
is scheduled to occur (which shall be a Business Day), the aggregate principal
amount of each Note to be prepaid on such date and the interest to be paid on
the prepayment date.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.2.4.&#160;&#160;&#160;&#160; Optional Prepayment
during Extended 10-Day Period<a name="_Toc7191131"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund may, upon notice as required below,
prepay Notes to cure a Default under Section 11(d) (consisting solely of a
Default under Section&nbsp;9.7(a) or 9.7(b) or both), at 100% of the principal
amount so prepaid, together with interest accrued thereon to the date of such
prepayment, and the Make-Whole Amount (referred to below) determined for such
prepayment date with respect to the principal amount.&#160; The Fund will give each
holder of Notes written notice of each prepayment under this Section&nbsp;8.2.4
prior to the end of the Initial 30-Day Period.&#160; Such notice shall specify such
date on which the prepayment is scheduled to occur (which shall be a Business
Day) prior to the end of the Extended 10-Day Period, the aggregate principal
amount of Notes to be prepaid, the principal amount of Notes held by such
holder to be prepaid, and the interest and Make&#8209;Whole Amount (referred to
below).&#160; In the event the Fund makes any partial prepayment of Notes and any
other Senior Securities Representing Indebtedness to cure any Default under
Section&nbsp;11(d) during the Extended 10-Day Period, the principal amount of
Notes and any other Senior Securities Representing Indebtedness to be prepaid
shall be&#160; allocated among all of the Notes and other Senior Securities
Representing Indebtedness at the time outstanding in proportion, as nearly as
practicable, to the respective unpaid principal amounts thereof not theretofore
called for prepayment.&#160; Notwithstanding anything to the contrary set forth
herein, the Make-Whole Amount for the Notes prepaid during the Extended 10 Day
Period shall be equal to one percent (1%) of the principal amount so repaid; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided,
however,</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that the amount of Notes and the other Senior Securities
Representing Indebtedness to be repaid during the Extended 10-Day Period shall
at no time exceed an amount necessary for the Fund to be in pro forma
compliance with Section&nbsp;9.7 after giving effect to such repayment.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section 8.3.&#160;&#160;&#160;&#160; Allocation of Partial
Prepayments<a name="_Toc118881271"></a><a name="_Toc7191132"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
In the case of each partial prepayment of the Notes pursuant to
Section&nbsp;8.2.1, 8.2.2 or 8.2.4, the principal amount of the Notes to be
prepaid shall be allocated among all of the Notes at the time outstanding in
proportion, as nearly as practicable, to the respective unpaid principal
amounts thereof not theretofore called for prepayment.&#160; </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.4.&#160;&#160;&#160;&#160; Maturity; Surrender,
Status, Etc<a name="_Toc519148638"></a><a name="_Toc519148722"></a><a name="_Toc519149088"></a><a name="_Toc519149194"></a><a name="_Toc519149360"></a><a name="_Toc519149443"></a><a name="_Toc65959640"></a><a name="_Toc118881272"></a><a name="_Toc7191133"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
In the case of each prepayment of Notes pursuant to this Section&nbsp;8, the
principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such
prepayment, together with interest on such principal amount accrued to such
date and the applicable Make&#8209;Whole Amount, if any.&#160; From and after such
date, unless the Fund shall fail to pay such principal amount when so due and
payable, together with the interest and Make&#8209;Whole Amount, if any, as
aforesaid, interest on such principal amount shall cease to accrue.&#160; Any Note
paid or prepaid in full shall be surrendered to the Fund and cancelled and
shall not be reissued, and no Note shall be issued in lieu of any prepaid
principal amount of any Note.</font></p>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.5.&#160;&#160;&#160;&#160; Purchase of Notes<a name="_Toc519148639"></a><a name="_Toc519148723"></a><a name="_Toc519149089"></a><a name="_Toc519149195"></a><a name="_Toc519149361"></a><a name="_Toc519149444"></a><a name="_Toc65959641"></a><a name="_Toc118881273"></a><a name="_Toc7191134"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund will not and will not permit any Affiliate to purchase, redeem, prepay
or otherwise acquire, directly or indirectly, any of the outstanding Notes
except (a)&nbsp;upon the payment or prepayment of the Notes in accordance with
the terms of this Agreement and the Notes or (b)&nbsp;pursuant to an offer to
purchase made by the Fund or an Affiliate pro rata to the holders of all of the
Notes at the time outstanding upon the same terms and conditions with respect
to the Notes.&#160; Any such offer shall provide each holder with sufficient
information to enable it to make an informed decision with respect to such
offer, and shall remain open for at least 20 Business Days.&#160; If the holders of
more than 50% of the principal amount of the Notes, then outstanding accept
such offer, the Fund shall promptly notify the remaining holders of such fact
and the expiration date for the acceptance by holders of Notes of such offer
shall be extended by the number of days necessary to give each such remaining
holder at least 10 Business Days from its receipt of such notice to accept such
offer.&#160; The Fund will promptly cancel all Notes acquired by it or any Affiliate
pursuant to any payment, prepayment or purchase of Notes pursuant to this
Agreement and no Notes may be issued in substitution or exchange for any such
Notes. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;8.6.&#160;&#160;&#160;&#160; Make&#8209;Whole Amount<a name="_Toc7191135"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Make&#8209;Whole Amount&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> means (except
as specified in Sections 8.2.2 and 8.2.4) with respect to any Note, an amount
equal to the excess, if any, of the Discounted Value of the Remaining Scheduled
Payments with respect to the Called Principal of such Note over the amount of
such Called Principal, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that the Make&#8209;Whole Amount may in
no event be less than zero. </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">For the purposes of determining the Make&#8209;Whole
Amount, the following terms have the following meanings:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Called Principal&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
means, with respect to any Note, the principal of such Note that is to be
prepaid pursuant to Section&nbsp;8.2.1 or has become or is declared to be
immediately due and payable pursuant to Section&nbsp;12.1, as the context
requires.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Discounted Value&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
means, with respect to the Called Principal of any Note, the amount obtained by
discounting all Remaining Scheduled Payments with respect to such Called
Principal from their respective scheduled due dates to the Settlement Date with
respect to such Called Principal, in accordance with accepted financial practice
and at a discount factor (applied on the same periodic basis as that on which
interest on the Notes is payable) equal to the Reinvestment Yield with respect
to such Called Principal.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Reinvestment Yield&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
means, with respect to the Called Principal of any Note, the sum of (a) .50%
plus (b) the yield to maturity implied by the &#8220;Ask Yield(s)&#8221; reported as of
10:00 a.m. (New York City time) on the second Business Day preceding the
Settlement Date with respect to such Called Principal, on the display
designated as &#8220;Page PX1&#8221; (or such other display as may
replace Page PX1) on Bloomberg Financial Markets for the most recently issued
actively traded on-the-run U.S. Treasury securities </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(&#8220;Reported&#8221;)</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> having
a maturity equal to the Remaining Average Life of such Called Principal as of
such Settlement Date.&#160; If there are no such U.S. Treasury securities Reported
having a maturity equal to such Remaining Average Life, then such implied yield
to maturity will be determined by (i)&nbsp;converting U.S. Treasury bill
quotations to bond equivalent yields in accordance with accepted financial
practice and (ii)&nbsp;interpolating linearly between the &#8220;Ask Yields&#8221; Reported
for the applicable most recently issued actively traded on-the-run U.S.
Treasury securities with the maturities (1)&nbsp;closest to and greater than
such Remaining Average Life and (2)&nbsp;closest to and less than such
Remaining Average Life.&#160; The Reinvestment Yield shall be rounded to the number
of decimal places as appears in the interest rate of the applicable Note.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">24</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">If such yields are not Reported or
the yields Reported as of such time are not ascertainable (including by way of
interpolation), then </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Reinvestment Yield&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> means, with respect to the
Called Principal of any Note, the sum of (x) .50% plus (y) the yield to
maturity implied by the U.S. Treasury constant maturity yields reported, for
the latest day for which such yields have been so reported as of the second
Business Day preceding the Settlement Date with respect to such Called
Principal, in Federal Reserve Statistical Release H.15 (or any comparable
successor publication) for the U.S. Treasury constant maturity having a term
equal to the Remaining Average Life of such Called Principal as of such
Settlement Date.&#160; If there is no such U.S. Treasury constant maturity having a
term equal to such Remaining Average Life, such implied yield to maturity will
be determined by interpolating linearly between (1) the U.S. Treasury constant
maturity so reported with the term closest to and greater than such Remaining
Average Life and (2)&nbsp;the U.S. Treasury constant maturity so reported with
the term closest to and less than such Remaining Average Life.&#160; The
Reinvestment Yield shall be rounded to the number of decimal places as appears
in the interest rate of the applicable Note.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#8220;Remaining Average Life&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
means, with respect to any Called Principal, the number of years obtained by
dividing (i)&nbsp;such Called Principal into (ii)&nbsp;the sum of the products
obtained by multiplying (a)&nbsp;the principal component of each Remaining
Scheduled Payment with respect to such Called Principal by (b)&nbsp;the number
of years, computed on the basis of a 360-day year comprised of twelve 30-day
months and calculated to two decimal places, that will elapse between the
Settlement Date with respect to such Called Principal and the scheduled due
date of such Remaining Scheduled Payment.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Remaining Scheduled
Payments&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> means, with respect to the Called Principal of any Note, all
payments of such Called Principal and interest thereon that would be due after
the Settlement Date with respect to such Called Principal if no payment of such
Called Principal were made prior to its scheduled due date, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
that if such Settlement Date is not a date on which interest payments are due
to be made under the Notes, then the amount of the next succeeding scheduled
interest payment will be reduced by the amount of interest accrued to such
Settlement Date and required to be paid on such Settlement Date pursuant to
Section&nbsp;8.2.1 or Section&nbsp;12.1.</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">25</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Settlement
Date&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> means, with respect to the Called Principal of any Note, the date on
which such Called Principal is to be prepaid pursuant to Section&nbsp;8.2.1 or
has become or is declared to be immediately due and payable pursuant to
Section&nbsp;12.1, as the context requires.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"> <i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section
8.7.&#160;&#160;&#160;&#160;&#160; Payments Due on Non-Business Days<a name="_Toc485788789"></a><a name="_Toc6475919"></a><a name="_Toc448499194"></a><a name="_Toc7191136"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; Anything in this Agreement or the Notes to
the contrary notwithstanding, (x) except as set forth in clause (y), any
payment of interest on any Note that is due on a date that is not a Business
Day shall be made on the next succeeding Business Day without including the
additional days elapsed in the computation of the interest payable on such next
succeeding Business Day; and (y) any payment of principal of or Make-Whole Amount
on any Note (including principal due on the Maturity Date of such Note) that is
due on a date that is not a Business Day shall be made on the next succeeding
Business Day and shall include the additional days elapsed in the computation
of interest payable on such next succeeding Business Day.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Affirmative Covenants<a name="_Toc519148641"></a><a name="_Toc519148725"></a><a name="_Toc519149091"></a><a name="_Toc519149197"></a><a name="_Toc519149363"></a><a name="_Toc519149446"></a><a name="_Toc65959645"></a><a name="_Toc126306090"></a><a name="_Toc7191137"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Fund covenants that so
long as any of the Notes are outstanding:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.1.&#160;&#160;&#160;&#160; Compliance with Law<a name="_Toc519148642"></a><a name="_Toc519148726"></a><a name="_Toc519149092"></a><a name="_Toc519149198"></a><a name="_Toc519149364"></a><a name="_Toc519149447"></a><a name="_Toc65959646"></a><a name="_Toc126306091"></a><a name="_Toc7191138"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
Without limiting Section&nbsp;10.3, the Fund will comply with all laws,
ordinances or governmental rules or regulations to which it is subject,
including, without limitation, ERISA, Environmental Laws, the USA PATRIOT Act
and the other laws and regulations that are referred to in Section&nbsp;5.16,
and will obtain and maintain in effect all licenses, certificates, permits,
franchises and other governmental authorizations necessary to the ownership of
its properties or to the conduct of its businesses, in each case to the extent
necessary to ensure that non&#8209;compliance with such laws, ordinances or
governmental rules or regulations or failures to obtain or maintain in effect
such licenses, certificates, permits, franchises and other governmental
authorizations would not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect, except such thereof as shall be
contested in good faith and by appropriate proceedings diligently conducted by
or on behalf of the Fund; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that such reserve or other applicable
provision as shall be required in accordance with Applicable Accounting
Principles shall have been made therefor.&#160; Without limiting the foregoing, the
Fund shall remain in material compliance, at all times with the 1940 Act,
including, but not limited to, all leverage provisions specified in the 1940
Act.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section&nbsp;9.2.&#160;&#160;&#160;&#160; Insurance<a name="_Toc7191139"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will maintain, with financially sound
and reputable insurers, insurance with respect to its properties and businesses
against such casualties and contingencies, of such types, on such terms and in
such amounts (including deductibles, co&#8209;insurance and self&#8209;insurance,
if adequate reserves are maintained with respect thereto) as is customary in
the case of entities of established reputations engaged in the same or a
similar business and similarly situated.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.3.&#160;&#160;&#160;&#160; Maintenance of
Properties<a name="_Toc519145330"></a><a name="_Toc519148644"></a><a name="_Toc519148728"></a><a name="_Toc519149094"></a><a name="_Toc519149200"></a><a name="_Toc519149366"></a><a name="_Toc519149449"></a><a name="_Toc65959648"></a><a name="_Toc126306093"></a><a name="_Toc7191140"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will
maintain and keep, or cause to be maintained and kept, its properties in good
repair, working order and condition (other than ordinary wear and tear), so
that the business carried on in connection therewith may be properly conducted
at all times, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that this Section shall not prevent the Fund from
discontinuing the operation and the maintenance of any
of its properties if such discontinuance is desirable in the conduct of its
business and the Fund has concluded that such discontinuance would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">26</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.4.&#160;&#160;&#160;&#160; Payment of Taxes<a name="_Toc519145331"></a><a name="_Toc519148645"></a><a name="_Toc519148729"></a><a name="_Toc519149095"></a><a name="_Toc519149201"></a><a name="_Toc519149367"></a><a name="_Toc519149450"></a><a name="_Toc65959649"></a><a name="_Toc126306094"></a><a name="_Toc7191141"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will file all income tax or similar tax
returns required to be filed in any jurisdiction and to pay and discharge all
taxes shown to be due and payable on such returns and all other taxes,
assessments, governmental charges, or levies payable by it, to the extent the
same have become due and payable and before they have become delinquent, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
that the Fund need not file any such tax return or pay any such tax,
assessment, charge or levy if (i)&nbsp;the amount, applicability or validity
thereof is contested by the Fund on a timely basis in good faith and in
appropriate proceedings, and the Fund has established adequate reserves
therefor in accordance with Applicable Accounting Principles on the books of
the Fund or (ii)&nbsp;the failure to file any such tax returns or the
nonpayment of any such taxes, assessments, charges and levies would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.5.&#160;&#160;&#160;&#160; Corporate Existence,
Etc<a name="_Toc519145332"></a><a name="_Toc519148646"></a><a name="_Toc519148730"></a><a name="_Toc519149096"></a><a name="_Toc519149202"></a><a name="_Toc519149368"></a><a name="_Toc519149451"></a><a name="_Toc65959650"></a><a name="_Toc126306095"></a><a name="_Toc7191142"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will at all
times preserve and keep in full force and effect its corporate existence and
the Fund will at all times preserve and keep in full force and effect all
rights and franchises of the Fund unless, in the good faith judgment of the
Fund, the termination of or failure to preserve and keep in full force and
effect such corporate existence, right or franchise would not, individually or
in the aggregate, have a Material Adverse Effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.6.&#160;&#160;&#160;&#160; Books and Records<a name="_Toc65959651"></a><a name="_Toc126306096"></a><a name="_Toc7191143"></a>.&#160;
</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Fund will maintain proper books of record and account in conformity with
Applicable Accounting Principles and all applicable requirements of any
Governmental Authority having legal or regulatory jurisdiction over the Fund.&#160;
The Fund will keep books, records and accounts which, in reasonable detail,
accurately reflect all transactions and dispositions of assets.&#160; The Fund has
devised a system of internal accounting controls sufficient to provide
reasonable assurances that their respective books, records, and accounts
accurately reflect all transactions and dispositions of assets and the Fund
will continue to maintain such system.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.7.&#160;&#160;&#160;&#160; Asset Coverage<a name="_Toc59767193"></a><a name="_Toc65959652"></a><a name="_Toc126306097"></a><a name="_Toc225910674"></a><a name="_Toc7191144"></a>.&#160; </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(a)&nbsp;The
Fund shall maintain, as of the last Business Day of each month, the 1940 Act
Asset Coverage. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; The Fund shall satisfy, as of each
Valuation Date, the Basic Maintenance Test.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 9.8.&#160;&#160;&#160;&#160; Current Rating on the Notes<a name="_Toc126306098"></a><a name="_Toc7191145"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund shall at
all times maintain a current rating given by a NRSRO of at least Investment
Grade with respect to the Notes and shall not at any time have any rating given
by a NRSRO of less than Investment Grade with respect to the Notes.&#160; Evidence
of such rating (or any change thereto) shall (a)&nbsp;be delivered by the
Company to the holders of the Notes (i)&nbsp;at least annually (commencing on
or about June 2020 and on or about each anniversary thereafter) and (ii)&nbsp;promptly
upon any change in such rating, (b)&nbsp;set forth the rating for such Notes,
(c)&nbsp;refer to the Private Placement Number issued by Standard &amp; Poor&#8217;s
CUSIP Bureau Service in respect of such Notes, (d)&nbsp;state that the rating
addresses the likelihood of payment of both the principal and interest of such
Notes (which requirement shall be deemed satisfied if
the evidence of such rating is silent as to the likelihood of payment of both
principal and interest and does not otherwise include any indication to the
contrary) and (e)&nbsp;not include any prohibition against sharing such
evidence with the SVO or any other regulatory authority having jurisdiction over
the holders of the Notes.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">27</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;9.9.&#160;&#160;&#160;&#160; Ranking of Obligations<a name="_Toc126306100"></a><a name="_Toc200521673"></a><a name="_Toc7191146"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160;
The Fund&#8217;s payment obligations under the Financing Agreements shall at all
times rank senior to all unsecured and unsubordinated Indebtedness and senior
to any mandatorily redeemable Preferred Stock issued by the Fund and at least </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">pari
passu</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">, without preference or priority, with all other secured Indebtedness.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section&nbsp;9.10.&#160;&#160;&#160;&#160; Maintenance of Status<a name="_Toc126306101"></a><a name="_Toc7191147"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will
maintain at all times its Status.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:auto;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Negative
Covenants<a name="_Toc519145333"></a><a name="_Toc519148647"></a><a name="_Toc519148731"></a><a name="_Toc519149097"></a><a name="_Toc519149203"></a><a name="_Toc519149369"></a><a name="_Toc519149452"></a><a name="_Toc65959654"></a><a name="_Toc126306102"></a><a name="_Toc7191148"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Fund covenants that so long as any of the Notes are
outstanding:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.1.&#160;&#160;&#160;&#160; Transactions with
Affiliates<a name="_Toc519145334"></a><a name="_Toc519148648"></a><a name="_Toc519148732"></a><a name="_Toc519149098"></a><a name="_Toc519149204"></a><a name="_Toc519149370"></a><a name="_Toc519149453"></a><a name="_Toc65959655"></a><a name="_Toc126306103"></a><a name="_Toc7191149"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will not
enter into directly or indirectly any material transaction or material group of
related transactions (including without limitation the purchase, lease, sale or
exchange of properties of any kind or the rendering of any service) with any
Affiliate, except pursuant to the reasonable requirements of the Fund&#8217;s
business and upon fair and reasonable terms no less favorable to the Fund than
would be obtainable in a comparable arm&#8217;s&#8209;length transaction with a
Person not an Affiliate and in compliance in all material respects with the
1940 Act.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.2.&#160;&#160;&#160;&#160; Fundamental Changes<a name="_Toc519145335"></a><a name="_Toc519148649"></a><a name="_Toc519148733"></a><a name="_Toc519149099"></a><a name="_Toc519149205"></a><a name="_Toc519149371"></a><a name="_Toc519149454"></a><a name="_Toc65959656"></a><a name="_Toc126306104"></a><a name="_Toc7191150"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will not (a) consolidate or merge into
or with any Person, or (b) in any single transaction or series of related
transactions, sell, lease or otherwise transfer, directly or indirectly, all or
substantially all of its property.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.3.&#160;&#160;&#160;&#160; Terrorism Sanctions
Regulations<a name="_Toc65959658"></a><a name="_Toc126306105"></a><a name="_Toc7191151"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;
The Fund will not, and will not permit any Controlled Entity to (a)&nbsp;become
(including by virtue of being owned or controlled by a Blocked Person), own or
control a Blocked Person or (b) directly or indirectly have any investment in
or engage in any dealing or transaction (including any investment, dealing or
transaction involving the proceeds of the Notes) with any Person if such
investment, dealing or transaction (i) would cause any holder or any affiliate
of such holder to be in violation of, or subject to sanctions under, any law or
regulation applicable to such holder, or (ii) is prohibited by or subject to
sanctions under any U.S. Economic Sanctions Laws or Canadian Economic Sanctions
Laws.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.4.&#160;&#160;&#160;&#160; Restricted Payments;
Fundamental Policies; Amendments and Changes<a name="_Toc59767201"></a><a name="_Toc65959659"></a><a name="_Toc126306106"></a><a name="_Toc7191152"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; (a)&nbsp;The Fund will not declare or pay,
or allow to be declared or paid, any dividend, distribution or similar payment
in respect of, or redeem any of, its shares if, immediately before or after
giving effect thereto, an Event of Default shall or would exist, except to the
extent required in order to qualify as a Regulated Investment Company and to
otherwise minimize or eliminate federal or state income taxes payable by the
Fund.&#160; Notwithstanding the foregoing, the Fund will not declare or pay, or
allow to be paid, any dividend, distribution or similar payment in respect of or redeem its shares if immediately before or after
giving effect thereto, a Default shall or would exist under
Section&nbsp;9.7(a).</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">28</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; The Fund will not (i) make or maintain
any investment other than as permitted by the 1940 Act or (ii) amend or
otherwise modify the Fundamental Policies.&#160; </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160; The Fund will not amend or otherwise
modify its Organization Documents or the Custody Agreement, in each case in any
way which would adversely affect the rights or remedies of the holders of Notes
under the Financing Agreements.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160; The Fund will not change its fiscal
year if such change would have a Material Adverse Effect.&#160; Subject to Section 22.3,
the Fund will not change or permit any change in the accounting principles
applied to it, except as required by Applicable Accounting Principles, if such
change would have a Material Adverse Effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 10.5.&#160;&#160;&#160;&#160; No Subsidiaries<a name="_Toc126306107"></a><a name="_Toc7191153"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will not at any
time have any Subsidiaries.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.6.&#160;&#160;&#160;&#160; Liens<a name="_Toc7191154"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will not create, incur, assume or suffer
to exist any Lien upon any of its property or assets, whether now owned or
hereafter acquired, except:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; Liens in respect of Indebtedness
permitted under Section&nbsp;10.7(a)(ii) and (iii);</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; Liens for Taxes, assessments or
similar charges incurred in the ordinary course of business which are not
delinquent or which are being contested in good faith and by appropriate
proceedings diligently conducted, and for which adequate reserves have been set
aside in accordance with Applicable Accounting Principles, provided that
enforcement of such Liens is stayed pending such contest;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160;&#160; Liens imposed by law created in
the ordinary course of business for amounts not yet due or which are being
contested in good faith and by appropriate proceedings diligently conducted,
and for which adequate reserves have been set aside in accordance with
Applicable Accounting Principles, provided that enforcement of such Liens is
stayed pending such contest;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160;&#160; Liens arising out of judgments or
decrees affecting the property attributable to the Fund which are being
contested in good faith and by appropriate proceedings diligently conducted,
and for which adequate reserves have been set aside in accordance with
Applicable Accounting Principles, provided that enforcement thereof is stayed
pending such contest;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (e)&#160;&#160;&#160;&#160;&#160; Liens in respect of obligations
arising from any (i)&nbsp;repurchase, reverse repurchase or securities lending
agreement, (ii)&nbsp;option contract, futures contract, forward contract, (iii)&nbsp;contract
for the delayed delivery of securities, or (iv)&nbsp;Hedging Agreement,
provided that each such obligation is incurred in the ordinary course of
business and in accordance with the Fundamental Policies;</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">29</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (f)&#160;&#160;&#160;&#160;&#160; Liens
created or arising out of the Financing Agreements (other than Liens securing
any Permitted Additional Debt and Liens arising under the Custody Agreement); </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (g)&#160;&#160;&#160;&#160;&#160; Liens arising in the ordinary
course of business under the Custody Agreement, to the extent permitted by the
Control Agreement; and </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (h)&#160;&#160;&#160;&#160;&#160; Liens securing Permitted
Additional Debt permitted under Section&nbsp;10.7(a)(iv); provided that such
Liens (i)&nbsp;are pari passu with the Liens securing the obligations under
this Agreement, (ii)&nbsp;do not extend to any property or assets other than
the Collateral and (iii)&nbsp;are subject to an Intercreditor Agreement.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.7.&#160;&#160;&#160;&#160; Indebtedness; Senior
Securities<a name="_Toc7191155"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; The Fund will not:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; create, incur, assume or suffer
to exist any liability for Indebtedness, except (i) Indebtedness under the Financing
Agreements (other than Indebtedness under the Custody Agreement), (ii)
Indebtedness (other than any Permitted Additional Debt and any other Indebtedness
for borrowed money or Indebtedness evidenced by or otherwise in respect of
bonds, debentures, notes or similar instruments), provided that (A) such
Indebtedness is incurred in the ordinary course of business, (B) such
Indebtedness is permitted to be incurred in accordance with the Fundamental
Policies, and (C) immediately after giving effect thereto and any simultaneous
repayment of any other Indebtedness, no Default would occur or be continuing,
(iii) Indebtedness to the Custodian (1) incurred for the purposes of clearing
and settling purchases and sales of securities, or (2) up to an aggregate
amount not to exceed $10,000,000 at any one time outstanding under this clause
(2), (I) for temporary or emergency purposes or (II) related to any foreign
exchange transactions, or (iv) Permitted Additional Debt; provided that both
before and immediately after any such Permitted Additional Debt is incurred, no
Default or Event of Default shall have occurred and be continuing; and</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160;  issue, sell, create, incur,
assume or suffer to exist any Senior Security, except (i) Senior Securities
Representing Indebtedness otherwise permitted hereunder and (ii) preferred Equity
Interests in connection with any Equity Issuance; provided that (A) both before
and immediately after any such Equity Issuance, no Default or Event of Default
shall have occurred and be continuing, and (B) such Equity Issuance is not otherwise
prohibited hereunder.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;10.8.&#160;&#160;&#160;&#160; Investment<a name="_Toc7191156"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; </font><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(a)&nbsp;</font><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Fund will not purchase,
acquire, or otherwise have exposure (including pursuant to any Derivative
Agreement) to, any Investment, other than Permitted Investments, </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">in each
case, for more than 30 days after the date the Fund has knowledge of the
purchase of, acquisition of, or other exposure with respect to any such
prohibited Investment.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; Other than as permitted by the Fund&#8217;s
Additional Investment Restrictions, the Fund will not enter into or otherwise
acquire or hold any Derivative except to mitigate or hedge a risk, such as
volatility in applicable interest rates or currency exchange rates, inherent in
an Investment held by the Fund in its portfolio.&#160; In
no event shall the Fund enter into or otherwise acquire or hold any Derivative
for the purpose of creating or continuing leverage.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">30</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160; [Reserved.]</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160; [Reserved.]</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (e)&#160;&#160;&#160;&#160; The Fund will not allow the value of
all Excluded Collateral to exceed 10% of Total Net Assets at any time.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (f)&#160;&#160;&#160;&#160; The Fund will not at any time (i)&nbsp;make
or maintain any Investment that is inconsistent with the Additional Investment
Restrictions, or (ii)&nbsp;maintain any Investment (other than Asset-backed
Securities held by the Fund on the date of Closing) previously made by the Fund
if, at such time, the Fund would be prohibited by the Additional Investment
Restrictions from making such Investment, in each case for more than 30 days
after the date the Fund has knowledge of the making or maintaining&#160; of any such
prohibited Investments. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (g)&#160;&#160;&#160;&#160; The Fund will not enter into or
maintain any derivative, repo, reverse repo or other similar transaction unless
(i)&nbsp;the collateral, if any, received or receivable by the Fund in
connection therewith is solely in the form of cash or short-term U.S. treasury
securities, and (ii)&nbsp;each counterparty thereto has a minimum senior
unsecured unenhanced long term debt rating of at least A- by S&amp;P (or the
equivalent rating of another independent rating agency (other than Moody&#8217;s) if
not so rated by S&amp;P) and at least A3 by Moody&#8217;s (or the equivalent rating
of another independent rating agency (other than S&amp;P) if not so rated by
Moody&#8217;s).</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:auto;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;11.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Events
of Default<a name="_Toc519145336"></a><a name="_Toc519148650"></a><a name="_Toc519148734"></a><a name="_Toc519149100"></a><a name="_Toc519149206"></a><a name="_Toc519149372"></a><a name="_Toc519149455"></a><a name="_Toc65959660"></a><a name="_Toc126306110"></a><a name="_Toc7191157"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">An </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Event of Default&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> shall exist if any of the
following conditions or events shall occur and be continuing:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; the Fund defaults in the payment
of any principal or Make&#8209;Whole Amount, if any, on any Note when the same
becomes due and payable, whether at maturity or at a date fixed for prepayment
or by declaration or otherwise; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; the Fund defaults in the payment
of any interest on any Note for more than five Business Days after the same
becomes due and payable; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160;&#160; the Fund defaults in the
performance of or compliance with any term contained in Section 7.1(d),
Section&nbsp;7.1(f), Section&nbsp;7.2, Section 10.8(a) or Section 10.8(f); or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160;&#160; the Fund defaults in the
performance of or compliance with any term contained in Section&nbsp;9.7, 10.4,
10.6, 10.7, 10.8(b) or 10.8(g) and such default is not remedied within
30&nbsp;days, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided,</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that in the case of any such default under
Section&nbsp;9.7, such 30&#8209;day period (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Initial 30&#8209;Day
Period&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">) shall be extended by an additional 10&#8209;day period (the </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Extended
10-Day Period&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">) if the Fund shall have given notice prior to the end of such Initial 30&#8209;Day Period of an
optional prepayment of such principal amount of Notes pursuant to Section&nbsp;8.2.4
and any other Senior Securities which, when consummated, shall be sufficient to
cure such default); or</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">31</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (e)&#160;&#160;&#160;&#160;&#160; the Fund defaults in the
performance of or compliance with&nbsp;any term contained herein or in the
Financing Agreements (other than those referred to in Sections&nbsp;11(a), (b),
(c) and (d)) and such default is not remedied within 30 days after the earlier
of (i)&nbsp;a Responsible Officer obtaining actual knowledge of such default
and (ii)&nbsp;the Fund receiving written notice of such default from any holder
of a Note (any such written notice to be identified as a &#8220;notice of default&#8221;
and to refer specifically to this Section&nbsp;11(e)); or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (f)&#160;&#160;&#160;&#160;&#160; any representation or warranty
made in writing by or on behalf of the Fund or by any officer of the Fund in
any Financing Agreement or in any writing furnished in connection with the
transactions contemplated hereby proves to have been false or incorrect in any
material respect on the date as of which made; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (g)&#160;&#160;&#160;&#160;&#160; (i) the Fund is in default (as
principal or as guarantor or other surety) in the payment of any principal of
or premium or make&#8209;whole amount or interest under the 2013 Notes, the
2017A Notes, the 2017B Notes, the Term Credit Agreement, the Revolving Credit
Agreement or on any Material Indebtedness beyond any period of grace provided
with respect thereto, or (ii)&nbsp;the Fund is in default in the performance of
or compliance with any term under the 2013 Notes, the 2017A Notes, the 2017B
Notes, the Term Credit Agreement, the Revolving Credit Agreement or any evidence
of any Material Indebtedness or of any mortgage, indenture or other agreement
relating thereto or any other condition exists, and as a consequence of such
default or condition such Indebtedness has become, or has been declared (or one
or more Persons are entitled to declare such Indebtedness to be) due and
payable before its stated maturity or before its regularly scheduled dates of
payment; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (h)&#160;&#160;&#160;&#160;&#160; the Fund (i)&nbsp;is generally
not paying, or admits in writing its inability to pay, its debts as they become
due, (ii)&nbsp;files, or consents by answer or otherwise to the filing against
it of, a petition for relief or reorganization or arrangement or any other
petition in bankruptcy, for liquidation or to take advantage of any bankruptcy,
insolvency, reorganization, moratorium or other similar law of any
jurisdiction, (iii)&nbsp;makes an assignment for the benefit of its creditors,
(iv)&nbsp;consents to the appointment of a custodian, receiver, trustee or
other officer with similar powers with respect to it or with respect to any
substantial part of its property, (v)&nbsp;is adjudicated as insolvent or to be
liquidated, or (vi)&nbsp;takes corporate action for the purpose of any of the
foregoing; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160; a court or other Governmental
Authority of competent jurisdiction enters an order appointing, without consent
by the Fund, a custodian, receiver, trustee or other officer with similar
powers with respect to it or with respect to any substantial part of its
property, or constituting an order for relief or approving a petition for
relief or reorganization or any other petition in bankruptcy or for liquidation
or to take advantage of any bankruptcy or insolvency law of any jurisdiction,
or ordering the dissolution, winding&#8209;up or
liquidation of the Fund, or any such petition shall be filed against the Fund
and such petition shall not be dismissed within 60 days; or</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">32</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (j)&#160;&#160;&#160;&#160;&#160; any event occurs with respect to
the Fund which under the laws of any jurisdiction is analogous to any of the
events described in Section&nbsp;11(h) or Section 11(i), </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that the
applicable grace period, if any, which shall apply shall be the one applicable
to the relevant proceeding which most closely corresponds to the proceeding
described in Section 11(h) or Section 11(i); or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (k)&#160;&#160;&#160;&#160;&#160; one or more final judgments or
orders for the payment of money aggregating in excess of the Threshold Amount
are rendered against the Fund and which judgments are not, within 60 days after
entry thereof, bonded, discharged or stayed pending appeal, or are not
discharged within 60 days after the expiration of such stay; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (l)&#160;&#160;&#160;&#160;&#160; (1) the investment manager for
the Fund shall fail to be Aberdeen Standard Investments (Asia) Limited, a
Singapore corporation, or an Affiliate thereof, (2)&nbsp;the investment adviser
for the Fund shall fail to be Aberdeen Standard Investments Australia Limited,
a New South Wales, Australia corporation, or an Affiliate thereof, (3)&nbsp;the
custodian for all of the assets of the Fund shall fail to be State Street Bank
and Trust Company, or an Affiliate thereof, or any successor thereto agreed to
in writing by Required Holders in their sole and absolute discretion, (4) the
sole administrator for the Fund shall fail to be Aberdeen Asset Management,
Inc., or an Affiliate thereof, or any successor thereto agreed to in writing by
Required Holders in their sole and absolute discretion, or (5) the independent
auditors for the Fund shall fail to be reasonably acceptable to Required
Holders; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (m)&#160;&#160;&#160;&#160;&#160; either of Aberdeen Standard
Investments (Asia) Limited, a Singapore corporation, or Aberdeen Standard
Investments Australia Limited, a New South Wales, Australia corporation, shall
fail to be directly or indirectly owned or controlled by Aberdeen Asset
Management PLC; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (n)&#160;&#160;&#160;&#160;&#160; the Fund&#8217;s shares shall be
suspended from trading on NYSE MKT for more than two consecutive days upon
which trading in shares generally occurs on such exchange, or shall be
delisted; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (o)&#160;&#160;&#160;&#160;&#160; if, pursuant to
Section&nbsp;18(a)(1)(c)(ii) of the 1940 Act, on the last business day of each
of twenty-four consecutive calendar months the Notes shall have an asset
coverage (as defined in Section 18(h) of the 1940 Act) of less than 100%; or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (p)&#160;&#160;&#160;&#160;&#160; at any time it is or becomes
unlawful for the Fund to perform or comply with any or all of its obligations
under any of the Financing Agreements or, except as a result of a sale or other
transfer of any asset in accordance with the terms of the Financing Agreements,
any Lien on any of the Collateral having a fair market value in excess of
$1,000,000 purported to be created by any Financing Agreement ceases to be or
is not a valid and perfected Lien to the extent and with the priority
contemplated hereby or thereby or any Financing Agreement shall cease to be in
full force and effect, including, without limitation,
as a result of a determination by any Governmental Authority or court that the
Financing Agreement is invalid, void or unenforceable in any material respect
or the Fund shall contest, repudiate or deny the validity or enforceability of
any Financing Agreement; or</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">33</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (q)&#160;&#160;&#160;&#160;&#160; if (i)&nbsp;any Plan, if
applicable, shall fail to satisfy the minimum funding standards of ERISA or the
Code for any plan year or part thereof or a waiver of such standards or
extension of any amortization period is sought or granted under
section&nbsp;412 of the Code, (ii) a notice of intent to terminate&nbsp;any
Plan shall have been or is reasonably expected to be filed with the PBGC or the
PBGC shall have instituted proceedings under ERISA section 4042 to terminate or
appoint a trustee to administer any Plan or the PBGC shall have notified the
Fund or any ERISA Affiliate that a Plan may become a subject of any such
proceedings, (iii)&nbsp;the aggregate &#8220;amount of unfunded benefit liabilities&#8221;
(within the meaning of section 4001(a)(18) of ERISA) under all Plans,
determined in accordance with Title IV of ERISA, shall exceed the Threshold
Amount, (iv)&nbsp;the aggregate present value of accrued benefit liabilities
under all funded Non-U.S. Plans exceeds the aggregate current value of the
assets of such Non-U.S. Plans allocable to such liabilities, (v)&nbsp;the Fund
or any ERISA Affiliate shall have incurred or is reasonably expected to incur
any liability pursuant to Title I or IV of ERISA or the penalty or excise tax
provisions of the Code relating to employee benefit plans, (vi)&nbsp;the Fund
or any ERISA Affiliate withdraws from any Multiemployer Plan, (vii)&nbsp;the
Fund establishes or amends any employee welfare benefit plan that provides
post-employment welfare benefits in a manner that would increase the liability
of the Fund thereunder, or (viii) the Fund fails to administer or maintain a
Non-U.S. Plan in compliance with the requirements of any and all applicable
laws, statutes, rules, regulations or court orders or any Non-U.S. Plan is
involuntarily terminated or wound up, or (ix) the Fund becomes subject to the
imposition of a financial penalty (which for this purpose shall mean any tax,
penalty or other liability, whether by way of indemnity or otherwise) with
respect to one or more Non-U.S. Plans; and any such event or events described
in clauses (i) through (ix) above, either individually or together with any
other such event or events, could reasonably be expected to have a Material
Adverse Effect.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">As used in Section&nbsp;11(q), the terms </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;employee
benefit plan&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> and </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;employee welfare benefit plan&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> shall have the
respective meanings assigned to such terms in section&nbsp;3 of ERISA.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Remedies on Default,
Etc<a name="_Toc519145337"></a><a name="_Toc519148651"></a><a name="_Toc519148735"></a><a name="_Toc519149101"></a><a name="_Toc519149207"></a><a name="_Toc519149373"></a><a name="_Toc519149456"></a><a name="_Toc65959661"></a><a name="_Toc126306111"></a><a name="_Toc7191158"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.1.&#160;&#160;&#160;&#160; Acceleration<a name="_Toc519145338"></a><a name="_Toc519148652"></a><a name="_Toc519148736"></a><a name="_Toc519149102"></a><a name="_Toc519149208"></a><a name="_Toc519149374"></a><a name="_Toc519149457"></a><a name="_Toc65959662"></a><a name="_Toc126306112"></a><a name="_Toc7191159"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; (a)&nbsp;If an Event of Default with respect to
the Fund described in Section&nbsp;11(h), (i) or (j) (other than an Event of
Default described in clause&nbsp;(i) of Section&nbsp;11(h) or described in
clause (vi) of Section&nbsp;11(h) by virtue of the fact that such clause
encompasses clause&nbsp;(i) of Section&nbsp;11(h)) has occurred, all the Notes
then outstanding shall automatically become immediately due and payable.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; If any other Event of Default has
occurred and is continuing, the Required Holders may at any time at its or
their option, by notice or notices to the Fund, declare all the Notes then
outstanding to be immediately due and payable.</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">34</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
<a name="page_36"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160; If any Event
of Default described in Section&nbsp;11(a) or (b) has occurred and is
continuing, any holder or holders of Notes at the time outstanding affected by
such Event of Default may at any time, at its or their option, by notice or
notices to the Fund, declare all the Notes held by it or them to be immediately
due and payable.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Upon any Notes becoming due and payable under this
Section&nbsp;12.1, whether automatically or by declaration, such Notes will
forthwith mature and the entire unpaid principal amount of such Notes, plus (x)
all accrued and unpaid interest thereon (including, but not limited to,
interest accrued thereon at the Default Rate) and (y) the Make&#8209;Whole
Amount, determined in respect of such principal amount (to the full extent
permitted by applicable law) shall all be immediately due and payable, in each
and every case without presentment, demand, protest or further notice, all of
which are hereby waived.&#160; The Fund acknowledges, and the parties hereto agree,
that each holder of a Note has the right to maintain its investment in the
Notes free from repayment by the Fund (except as herein specifically provided
for) and that the provision for payment of a Make&#8209;Whole Amount, in the
event that the Notes are prepaid or are accelerated as a result of an Event of
Default, is intended to provide compensation for the deprivation of such right
under such circumstances.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.2.&#160;&#160;&#160;&#160; Other Remedies<a name="_Toc519145339"></a><a name="_Toc519148653"></a><a name="_Toc519148737"></a><a name="_Toc519149103"></a><a name="_Toc519149209"></a><a name="_Toc519149375"></a><a name="_Toc519149458"></a><a name="_Toc65959663"></a><a name="_Toc126306113"></a><a name="_Toc7191160"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; If any Default or Event of Default has occurred
and is continuing, and irrespective of whether any Notes have become or have
been declared immediately due and payable under Section&nbsp;12.1, the holder
of any Note at the time outstanding may proceed to protect and enforce the
rights of such holder by an action at law, suit in equity or other appropriate
proceeding, whether for the specific performance of any agreement contained
herein or in any Note, or for an injunction against a violation of any of the
terms hereof or thereof, or in aid of the exercise of any power granted hereby
or thereby or by law or otherwise.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.3.&#160;&#160;&#160;&#160; Rescission<a name="_Toc519145340"></a><a name="_Toc519148654"></a><a name="_Toc519148738"></a><a name="_Toc519149104"></a><a name="_Toc519149210"></a><a name="_Toc519149376"></a><a name="_Toc519149459"></a><a name="_Toc65959664"></a><a name="_Toc126306114"></a><a name="_Toc7191161"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; At any time after any Notes have been declared
due and payable pursuant to Section&nbsp;12.1(b) or (c), the Required Holders,
by written notice to the Fund, may rescind and annul any such declaration and
its consequences if (a)&nbsp;the Fund has paid all overdue interest on the
Notes, all principal of and Make&#8209;Whole Amount, if any, on any Notes that
are due and payable and are unpaid other than by reason of such declaration,
and all interest on such overdue principal, Make&#8209;Whole Amount, if any,
and (to the extent permitted by applicable law) any overdue interest in respect
of the Notes, at the Default Rate, (b)&nbsp;neither the Fund nor any other
Person shall have paid any amounts which have become due solely by reason of
such declaration, (c)&nbsp;all Events of Default and Defaults, other than non&#8209;payment
of amounts that have become due solely by reason of such declaration, have been
cured or have been waived pursuant to Section&nbsp;17, and (d)&nbsp;no judgment
or decree has been entered for the payment of any monies due pursuant hereto or
to the Notes.&#160; No rescission and annulment under this Section&nbsp;12.3 will
extend to or affect any subsequent Event of Default or Default or impair any
right consequent thereon.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;12.4.&#160;&#160;&#160;&#160; No Waivers or Election
of Remedies, Expenses, Etc<a name="_Toc519145341"></a><a name="_Toc519148655"></a><a name="_Toc519148739"></a><a name="_Toc519149105"></a><a name="_Toc519149211"></a><a name="_Toc519149377"></a><a name="_Toc519149460"></a><a name="_Toc65959665"></a><a name="_Toc126306115"></a><a name="_Toc7191162"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; No course of dealing and no delay on the part of
any holder of any Note in exercising any right, power or remedy shall operate
as a waiver thereof or otherwise prejudice such holder&#8217;s rights, powers or
remedies.&#160; No right, power or remedy conferred by this Agreement or by any Note
upon any holder thereof shall be exclusive of any other right, power or remedy
referred to herein or therein or now or hereafter
available at law, in equity, by statute or otherwise.&#160; Without limiting the
obligations of the Fund under Section&nbsp;15, the Fund will pay to the holder
of each Note on demand such further amount as shall be sufficient to cover all
costs and expenses of such holder incurred in any enforcement or collection
under this Section&nbsp;12, including, without limitation, reasonable
attorneys&#8217; fees, expenses and disbursements.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">35</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Registration; Exchange; Substitution
of Notes<a name="_Toc519145342"></a><a name="_Toc519148656"></a><a name="_Toc519148740"></a><a name="_Toc519149106"></a><a name="_Toc519149212"></a><a name="_Toc519149378"></a><a name="_Toc519149461"></a><a name="_Toc65959666"></a><a name="_Toc126306116"></a><a name="_Toc7191163"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.1.&#160;&#160;&#160;&#160; Registration of Notes<a name="_Toc519145343"></a><a name="_Toc519148657"></a><a name="_Toc519148741"></a><a name="_Toc519149107"></a><a name="_Toc519149213"></a><a name="_Toc519149379"></a><a name="_Toc519149462"></a><a name="_Toc65959667"></a><a name="_Toc126306117"></a><a name="_Toc7191164"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund shall keep at its principal executive
office a register for the registration and registration of transfers of Notes.&#160;
The name and address of each holder of one or more Notes, each transfer thereof
and the name and address of each transferee of one or more Notes shall be
registered in such register.&#160; If any holder of one or more Notes is a nominee,
then (a) the name and address of the beneficial owner of such Note or Notes
shall also be registered in such register as an owner and holder thereof and
(b) at any such beneficial owner&#8217;s option, either such beneficial owner or its
nominee may execute any amendment, waiver or consent pursuant to this
Agreement.&#160; Prior to due presentment for registration of transfer, the Person
in whose name any Note shall be registered shall be deemed and treated as the
owner and holder thereof for all purposes hereof, and the Fund shall not be
affected by any notice or knowledge to the contrary.&#160; The Fund shall give to
any holder of a Note that is an Institutional Investor promptly upon request
therefor, a complete and correct copy of the names and addresses of all
registered holders of Notes.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.2.&#160;&#160;&#160;&#160; Transfer and Exchange of
Notes<a name="_Toc519145344"></a><a name="_Toc519148658"></a><a name="_Toc519148742"></a><a name="_Toc519149108"></a><a name="_Toc519149214"></a><a name="_Toc519149380"></a><a name="_Toc519149463"></a><a name="_Toc65959668"></a><a name="_Toc126306118"></a><a name="_Toc7191165"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; (a)&nbsp;Upon
surrender of any Note to the Fund at the address and to the attention of the
designated officer (all as specified in Section&nbsp;18(iii)), for registration
of transfer or exchange (and in the case of a surrender for registration of
transfer accompanied by a written instrument of transfer duly executed by the
registered holder of such Note or such holder&#8217;s attorney duly authorized in
writing and accompanied by the relevant name, address and other information for
notices of each transferee of such Note or part thereof along with any form,
certificates, or other evidence with respect to tax matters that the Fund may
reasonably require pursuant to this Section&nbsp;13.2), within ten Business
Days thereafter, the Fund shall execute and deliver, at the Fund&#8217;s expense
(except as provided below), one or more new Notes (as requested by the holder
thereof) in exchange therefor, in an aggregate principal amount equal to the
unpaid principal amount of the surrendered Note.&#160; Each such new Note shall be
payable to such Person as such holder may request and shall be substantially in
the form of Exhibit&nbsp;1.&#160; Each such new Note shall be dated and bear
interest from the date to which interest shall have been paid on the
surrendered Note or dated the date of the surrendered Note if no interest shall
have been paid thereon.&#160; The Fund may require payment of a sum sufficient to
cover any stamp tax or governmental charge imposed in respect of any such
transfer of Notes.&#160; Notes shall not be transferred in denominations of less
than $250,000, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that if necessary to enable the registration of
transfer by a holder of its entire holding of Notes, one Note may be in a
denomination of less than $250,000.&#160; Any transferee, by its acceptance of a
Note registered in its name (or the name of its nominee), shall be deemed to
have made the representation set forth in Section 6.2.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; Each holder of a Note shall provide
the Fund with a properly completed and signed Tax Certification (as defined
below).&#160; In the case of a Person that is a &#8220;United States person&#8221; within the meaning of Section&nbsp;7701(a)(30) of the
Code, an original Internal Revenue Service (</font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;IRS&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">) Form W&#8209;9 (or
applicable successor form) shall be provided.&#160; In the case of a Person that is
not a &#8220;United States person&#8221; within the meaning of Section&nbsp;7701(a)(30) of
the Code (a </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;foreign person&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">), an original IRS Form W&#8209;8ECI, W&#8209;8IMY,
W&#8209;8EXP or W&#8209;8BEN (or applicable successor form), along with any
required attachments, shall be provided.&#160; As used herein, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;Tax Certification&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
shall mean an IRS Form W&#8209;9 or W&#8209;8, as described above.&#160; A new
original IRS Form W&#8209;8, indicating the relevant account number (or such
other information or forms as required by applicable law) must be completed,
signed and provided by each foreign person to, and received by, the Fund either
by the date that is five Business Days prior to December 31 of the calendar
year inclusive of the third anniversary of the date listed on the previously
provided from or as otherwise required by applicable law.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">36</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;13.3.&#160;&#160;&#160;&#160; Replacement of Notes<a name="_Toc519145345"></a><a name="_Toc519148659"></a><a name="_Toc519148743"></a><a name="_Toc519149109"></a><a name="_Toc519149215"></a><a name="_Toc519149381"></a><a name="_Toc519149464"></a><a name="_Toc65959669"></a><a name="_Toc126306119"></a><a name="_Toc7191166"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Upon receipt by the Fund at the address and to
the attention of the designated officer (all as specified in
Section&nbsp;18(iii)) of evidence reasonably satisfactory to it of the ownership
of and the loss, theft, destruction or mutilation of any Note (which evidence
shall be, in the case of an Institutional Investor, notice from such
Institutional Investor of such ownership and such loss, theft, destruction or
mutilation), and</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160; in the case of loss, theft or
destruction, of indemnity reasonably satisfactory to it (</font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">that
if the holder of such Note is, or is a nominee for, an original Purchaser or
another holder of a Note with a minimum net worth of at least $50,000,000 or a
Qualified Institutional Buyer, such Person&#8217;s own unsecured agreement of
indemnity shall be deemed to be satisfactory), or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160; in the case of mutilation, upon
surrender and cancellation thereof,</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">within ten Business Days thereafter, the Fund at its own
expense shall execute and deliver, in lieu thereof, a new Note, dated and
bearing interest from the date to which interest shall have been paid on such
lost, stolen, destroyed or mutilated Note or dated the date of such lost,
stolen, destroyed or mutilated Note if no interest shall have been paid
thereon.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Payments on Notes<a name="_Toc519145346"></a><a name="_Toc519148660"></a><a name="_Toc519148744"></a><a name="_Toc519149110"></a><a name="_Toc519149216"></a><a name="_Toc519149382"></a><a name="_Toc519149465"></a><a name="_Toc65959670"></a><a name="_Toc126306120"></a><a name="_Toc7191167"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.1.&#160;&#160;&#160;&#160; Place of Payment<a name="_Toc519145347"></a><a name="_Toc519148661"></a><a name="_Toc519148745"></a><a name="_Toc519149111"></a><a name="_Toc519149217"></a><a name="_Toc519149383"></a><a name="_Toc519149466"></a><a name="_Toc65959671"></a><a name="_Toc126306121"></a><a name="_Toc7191168"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Subject to Section&nbsp;14.2, payments of
principal, Make&#8209;Whole Amount, if any, and interest becoming due and
payable on the Notes shall be made in New York, New York at the principal
office of Bank of New York, N.A.&#160; The Fund may at any time, by notice to each
holder of a Note, change the place of payment of the Notes so long as such
place of payment shall be either the principal office of the Fund in such
jurisdiction or the principal office of a bank or trust company in such
jurisdiction.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.2.&#160;&#160;&#160;&#160; Payment by Wire Transfer<a name="_Toc519145348"></a><a name="_Toc519148662"></a><a name="_Toc519148746"></a><a name="_Toc519149112"></a><a name="_Toc519149218"></a><a name="_Toc519149384"></a><a name="_Toc519149467"></a><a name="_Toc65959672"></a><a name="_Toc126306122"></a><a name="_Toc7191169"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; So long as any Purchaser or its nominee shall be
the holder of any Note, and notwithstanding anything contained in
Section&nbsp;14.1 or in such Note to the contrary, the Fund will pay all sums
becoming due on such Note for principal, Make&#8209;Whole Amount, if any,
interest and all other amounts becoming due hereunder by the method and at the
address specified for such purpose below such Purchaser&#8217;s name in the Schedule
A, or by such other method or at such other address as such Purchaser shall have
from time to time specified to the Fund in writing for
such purpose, without the presentation or surrender of such Note or the making
of any notation thereon, except that upon written request of the Fund made
concurrently with or reasonably promptly after payment or prepayment in full of
any Note, such Purchaser shall surrender such Note for cancellation, reasonably
promptly after any such request, to the Fund at its principal executive office
or at the place of payment most recently designated by the Fund pursuant to
Section&nbsp;14.1.&#160; Prior to any sale or other disposition of any Note held by
a Purchaser or its nominee, such Purchaser will, at its election, either
endorse thereon the amount of principal paid thereon and the last date to which
interest has been paid thereon or surrender such Note to the Fund in exchange
for a new Note or Notes pursuant to Section&nbsp;13.2.&#160; The Fund will afford
the benefits of this Section&nbsp;14.2 to any Institutional Investor that is
the direct or indirect transferee of any Note purchased by a Purchaser under
this Agreement and that has made the same agreement relating to such Note as
the Purchasers have made in this Section&nbsp;14.2.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">37</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;14.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160; FATCA
Information<a name="_Toc435780526"></a><a name="_Toc448499224"></a><a name="_Toc7191170"></a>.&#160; </font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">By acceptance of any Note, the holder of
such Note agrees that such holder will with reasonable promptness duly complete
and deliver to the Fund, or to such other Person as may be reasonably requested
by the Fund, from time to time (a) in the case of any such holder that is a
United States Person, such holder&#8217;s United States tax identification number or
other Forms reasonably requested by the Fund necessary to establish such
holder&#8217;s status as a United States Person under FATCA and as may otherwise be
necessary for the Fund to comply with its obligations under FATCA and (b) in
the case of any such holder that is not a United States Person, such
documentation prescribed by applicable law (including as prescribed by section
1471(b)(3)(C)(i) of the Code) and such additional documentation as may be
necessary for the Fund to comply with its obligations under FATCA and to
determine that such holder has complied with such holder&#8217;s obligations under
FATCA or to determine the amount (if any) to deduct and withhold from any such
payment made to such holder.&#160; Nothing in this Section 14.3 shall require any
holder to provide information that is confidential or proprietary to such
holder unless the Fund is required to obtain such information under FATCA and,
in such event, the Fund shall treat any such information it receives as
confidential.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;15.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Expenses, Etc<a name="_Toc519145349"></a><a name="_Toc519148663"></a><a name="_Toc519148747"></a><a name="_Toc519149113"></a><a name="_Toc519149219"></a><a name="_Toc519149385"></a><a name="_Toc519149468"></a><a name="_Toc65959673"></a><a name="_Toc126306124"></a><a name="_Toc7191171"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;15.1.&#160;&#160;&#160;&#160; Transaction
Expenses<a name="_Toc519145350"></a><a name="_Toc519148664"></a><a name="_Toc519148748"></a><a name="_Toc519149114"></a><a name="_Toc519149220"></a><a name="_Toc519149386"></a><a name="_Toc519149469"></a><a name="_Toc65959674"></a><a name="_Toc126306125"></a><a name="_Toc7191172"></a></font></i><font face=Times lang=FR style="font-size:12.0pt;line-height:14.0pt;">.&#160; </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Whether or not the
transactions contemplated hereby are consummated, the Fund will pay all costs
and expenses (including reasonable attorneys&#8217; fees of a special counsel and, if
reasonably required by the Required Holders, local or other counsel) incurred
by the Purchasers and each other holder of a Note in connection with such
transactions and in connection with any amendments, waivers or consents under
or in respect of any Financing Agreements (whether or not such amendment,
waiver or consent becomes effective), including, without limitation:&#160; (a)&nbsp;the
costs and expenses incurred in enforcing or defending (or determining whether
or how to enforce or defend) any rights under any Financing Agreements or in
responding to any subpoena or other legal process or informal investigative
demand issued in connection with any Financing Agreements, or by reason of
being a holder of any Note, (b)&nbsp;the costs and expenses, including
financial advisors&#8217; fees, incurred in connection with the insolvency or
bankruptcy of the Fund or in connection with any work&#8209;out or restructuring
of the transactions contemplated the Financing Agreements and by the Notes and
(c)&nbsp;the costs and expenses incurred in connection with the initial filing
of this Agreement and all related documents and
financial information with the SVO, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that such costs and
expenses under this clause&nbsp;(c) shall not exceed $3,500.&#160; </font><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">If required by the NAIC, the Fund
shall obtain and maintain at its own cost and expense a Legal Entity Identifier</font><font color=black face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> (LEI).</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">38</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:45.0pt;text-justify:inter-ideograph;"> <font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Fund will pay, and will
save each Purchaser and each other holder of a Note harmless from, (i) all
claims in respect of any fees, costs or expenses if any, of brokers and finders
(other than those, if any, retained by a Purchaser or other holder in
connection with its purchase of the Notes), (ii) any and all wire transfer fees
that any bank or other financial institution deducts from any payment under
such Note to such holder or otherwise charges to a holder of a Note with
respect to a payment under such Note </font><font face="times new roman" lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">and
(iii) any judgment, liability, claim, order, decree, fine, penalty, cost, fee,
expense (including reasonable attorneys&#8217; fees and expenses) or obligation
resulting from the consummation of the transactions contemplated hereby,
including the use of the proceeds of the Notes by the Fund</font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><b><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 15.2.&#160;&#160;&#160;&#160; Certain Taxes<a name="_Toc433039890"></a><a name="_Toc435780529"></a><a name="_Toc448499227"></a><a name="_Toc7191173"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; The Fund agrees to pay all stamp,
documentary or similar taxes or fees which may be payable in respect of the
execution and delivery or the enforcement of the Financing Agreements or the
execution and delivery (but not the transfer) or the enforcement of any of the
Notes in the United States or any other jurisdiction where the Fund has assets
or of any amendment of, or waiver or consent under or with respect to the
Financing Agreements and to pay any value added tax due and payable in respect
of reimbursement of costs and expenses by the Fund pursuant to this Section 15,
and will save each holder of a Note to the extent permitted by applicable law
harmless against any loss or liability resulting from nonpayment or delay in
payment of any such tax or fee required to be paid by the Fund hereunder.&#160;&#160;&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;15.3.&#160;&#160;&#160;&#160; Survival<a name="_Toc519145351"></a><a name="_Toc519148665"></a><a name="_Toc519148749"></a><a name="_Toc519149115"></a><a name="_Toc519149221"></a><a name="_Toc519149387"></a><a name="_Toc519149470"></a><a name="_Toc65959675"></a><a name="_Toc126306126"></a><a name="_Toc7191174"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The obligations of the Fund under this
Section&nbsp;15 will survive the payment or transfer of any Note, the
enforcement, amendment or waiver of any provision of any Financing Agreement,
and the termination of this Agreement.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;16.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Survival of Representations and
Warranties; Entire Agreement<a name="_Toc519145352"></a><a name="_Toc519148666"></a><a name="_Toc519148750"></a><a name="_Toc519149116"></a><a name="_Toc519149222"></a><a name="_Toc519149388"></a><a name="_Toc519149471"></a><a name="_Toc65959676"></a><a name="_Toc126306127"></a><a name="_Toc7191175"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">All representations and warranties contained herein shall
survive the execution and delivery of the Financing Agreements, the purchase or
transfer by any Purchaser of any Note or portion thereof or interest therein
and the payment of any Note, and may be relied upon by any subsequent holder of
a Note, regardless of any investigation made at any time by or on behalf of
such Purchaser or any other holder of a Note.&#160; All statements contained in any
certificate or other instrument delivered by or on behalf of the Fund pursuant
to the Financing Agreements shall be deemed representations and warranties of
the Fund under this Agreement.&#160; Subject to the preceding sentence, the
Financing Agreements embody the entire agreement and understanding between each
Purchaser and the Fund and supersede all prior agreements and understandings
relating to the subject matter hereof.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Amendment and Waiver<a name="_Toc519145353"></a><a name="_Toc519148667"></a><a name="_Toc519148751"></a><a name="_Toc519149117"></a><a name="_Toc519149223"></a><a name="_Toc519149389"></a><a name="_Toc519149472"></a><a name="_Toc65959677"></a><a name="_Toc126306128"></a><a name="_Toc7191176"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.1.&#160;&#160;&#160;&#160; Requirements<a name="_Toc519145354"></a><a name="_Toc519148668"></a><a name="_Toc519148752"></a><a name="_Toc519149118"></a><a name="_Toc519149224"></a><a name="_Toc519149390"></a><a name="_Toc519149473"></a><a name="_Toc65959678"></a><a name="_Toc126306129"></a><a name="_Toc7191177"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; (a)&nbsp;This Agreement and the Notes may be
amended, and the observance of any term hereof or of the Notes may be waived
(either retroactively or prospectively), with (and
only with) the written consent of the Fund and the Required Holders, except
that (a)&nbsp;no amendment or waiver of any of the provisions of
Section&nbsp;1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used
therein), will be effective as to any Purchaser unless consented to by such
Purchaser in writing, and (b)&nbsp;no such amendment or waiver may, without the
written consent of the holder of each Note at the time outstanding affected
thereby, (i)&nbsp;subject to the provisions of Section&nbsp;12 relating to
acceleration or rescission, change the amount or time of any prepayment or
payment of principal of, or reduce the rate or change the time of payment or
method of computation of interest or of the Make&#8209;Whole Amount on, the
Notes, (ii)&nbsp;change the percentage of the principal amount of the Notes the
holders of which are required to consent to any such amendment or waiver, or
(iii)&nbsp;amend any of Section&nbsp;8, 11(a), 11(b), 12, 17 or 20.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">39</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The Financing Agreements (other than this Agreement and the
Notes) may be amended in the manner described in each such document.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.2.&#160;&#160;&#160;&#160; Solicitation
of Holders of Notes<a name="_Toc519145355"></a><a name="_Toc519148669"></a><a name="_Toc519148753"></a><a name="_Toc519149119"></a><a name="_Toc519149225"></a><a name="_Toc519149391"></a><a name="_Toc519149474"></a><a name="_Toc65959679"></a><a name="_Toc126306130"></a><a name="_Toc7191178"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Solicitation</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will
provide each holder of the Notes (irrespective of the amount of Notes then
owned by it) with sufficient information, sufficiently far in advance of the
date a decision is required, to enable such holder to make an informed and
considered decision with respect to any proposed amendment, waiver or consent
in respect of any of the provisions hereof or of the Notes.&#160; The Fund will
deliver executed or true and correct copies of each amendment, waiver or
consent effected pursuant to the provisions of this Section&nbsp;17 to each
holder of outstanding Notes promptly following the date on which it is executed
and delivered by, or receives the consent or approval of, the requisite holders
of Notes.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Payment</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; The Fund will not
directly or indirectly pay or cause to be paid any remuneration, whether by way
of supplemental or additional interest, fee or otherwise, or grant any security
or provide other credit support, to any holder of Notes as consideration for or
as an inducement to the entering into by any holder of Notes or any waiver or
amendment of any of the terms and provisions hereof or of the Notes or other
Financing Agreements unless such remuneration is concurrently paid, or security
is concurrently granted or other credit support concurrently provided, on the
same terms, ratably to each holder of Notes then outstanding even if such
holder did not consent to such waiver or amendment.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Consent in Contemplation of
Transfer.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; Any consent made pursuant to this Section&nbsp;17.2 by the
holder of any Note that has transferred or has agreed to transfer such Note to
the Fund or any Affiliate of the Fund or (iii) </font><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">any
other Person in connection with, or in anticipation of, such other Person
acquiring, making a tender offer for or merging with the Fund and/or any of its
Affiliates</font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">, in each case in connection with such consent, shall be void
and of no force or effect except solely as to such holder, and any amendments
effected or waivers granted or to be effected or granted that would not have
been or would not be so effected or granted but for such consent (and the
consents of all other holders of Notes that were acquired under the same or
similar conditions) shall be void and of no force or effect except solely as to
such holder.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.3.&#160;&#160;&#160;&#160; Binding Effect, Etc<a name="_Toc519145356"></a><a name="_Toc519148670"></a><a name="_Toc519148754"></a><a name="_Toc519149120"></a><a name="_Toc519149226"></a><a name="_Toc519149392"></a><a name="_Toc519149475"></a><a name="_Toc65959680"></a><a name="_Toc126306131"></a><a name="_Toc7191179"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Any amendment or waiver consented to as provided
in this Section&nbsp;17 applies equally to all holders of Notes and is binding
upon them and upon each future holder of any Note and
upon the Fund without regard to whether such Note has been marked to indicate
such amendment or waiver.&#160; No such amendment or waiver will extend to or affect
any obligation, covenant, agreement, Default or Event of Default not expressly
amended or waived or impair any right consequent thereon.&#160; No course of dealing
between the Fund and the holder of any Note nor any delay in exercising any
rights hereunder or under any Note shall operate as a waiver of any rights of
any holder of such Note.&#160; As used herein, the term </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8220;this Agreement&#8221;</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> and
references thereto shall mean this Agreement as it may from time to time be
amended or supplemented.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">40</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;17.4.&#160;&#160;&#160;&#160; Notes Held by Fund, Etc<a name="_Toc519145357"></a><a name="_Toc519148671"></a><a name="_Toc519148755"></a><a name="_Toc519149121"></a><a name="_Toc519149227"></a><a name="_Toc519149393"></a><a name="_Toc519149476"></a><a name="_Toc65959681"></a><a name="_Toc126306132"></a><a name="_Toc7191180"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Solely for the purpose of determining whether the
holders of the requisite percentage of the aggregate principal amount of Notes
then outstanding approved or consented to any amendment, waiver or consent to
be given under this Agreement or the Notes, or have directed the taking of any
action provided herein or in the Notes to be taken upon the direction of the
holders of a specified percentage of the aggregate principal amount of Notes
then outstanding, Notes directly or indirectly owned by the Fund or any of its
Affiliates shall be deemed not to be outstanding.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;18.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notices<a name="_Toc519145358"></a><a name="_Toc519148672"></a><a name="_Toc519148756"></a><a name="_Toc519149122"></a><a name="_Toc519149228"></a><a name="_Toc519149394"></a><a name="_Toc519149477"></a><a name="_Toc65959682"></a><a name="_Toc126306133"></a><a name="_Toc7191181"></a>. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Except to the extent otherwise provided in Section 7.4, all
notices and communications provided for hereunder shall be in writing and sent
(a)&nbsp;by telecopy if the sender on the same day sends a confirming copy of
such notice by a recognized overnight delivery service (charges prepaid), or
(b)&nbsp;by registered or certified mail with return receipt requested (postage
prepaid), or (c)&nbsp;by a recognized overnight delivery service (with charges
prepaid).&#160; Any such notice must be sent:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160; if to any Purchaser or its
nominee, to such Purchaser or nominee at the address specified for such
communications in Schedule A, or at such other address as such Purchaser or
nominee shall have specified to the Fund in writing,</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160;&#160;&#160;&#160;&#160; if to any other holder of any
Note, to such holder at such address as such other holder shall have specified
to the Fund in writing, or</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iii)&#160;&#160;&#160;&#160;&#160; if to the Fund, to the Fund at
its address set forth at the beginning hereof to the attention of Alan Goodson,
or at such other address as the Fund shall have specified to the holder of each
Note in writing. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Except as otherwise provided in Sections&nbsp;7.1 and 7.2,
notices under this Section 18 will be deemed given only when actually received.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;19.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Reproduction of Documents<a name="_Toc519145359"></a><a name="_Toc519148673"></a><a name="_Toc519148757"></a><a name="_Toc519149123"></a><a name="_Toc519149229"></a><a name="_Toc519149395"></a><a name="_Toc519149478"></a><a name="_Toc65959683"></a><a name="_Toc126306134"></a><a name="_Toc7191182"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">This Agreement and all documents relating thereto,
including, without limitation, (a)&nbsp;consents, waivers and modifications
that may hereafter be executed, (b)&nbsp;documents received by any Purchaser at
the Closing (except the Notes themselves), and (c)&nbsp;financial statements,
certificates and other information previously or hereafter furnished to any
Purchaser, may be reproduced by such Purchaser by any
photographic, photostatic, electronic, digital, or other similar process and
such Purchaser may destroy any original document so reproduced.&#160; The Fund agrees
and stipulates that, to the extent permitted by applicable law, any such
reproduction shall be admissible in evidence as the original itself in any
judicial or administrative proceeding (whether or not the original is in
existence and whether or not such reproduction was made by such Purchaser in
the regular course of business) and any enlargement, facsimile or further
reproduction of such reproduction shall likewise be admissible in evidence.&#160;
This Section&nbsp;19 shall not prohibit the Fund or any other holder of Notes
from contesting any such reproduction to the same extent that it could contest
the original, or from introducing evidence to demonstrate the inaccuracy of any
such reproduction.</font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">41</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;20.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Confidential Information<a name="_Toc519145360"></a><a name="_Toc519148674"></a><a name="_Toc519148758"></a><a name="_Toc519149124"></a><a name="_Toc519149230"></a><a name="_Toc519149396"></a><a name="_Toc519149479"></a><a name="_Toc65959684"></a><a name="_Toc126306135"></a><a name="_Toc7191183"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">For the purposes of this Section&nbsp;20, &#8220;Confidential
Information&#8221; means information delivered to any Purchaser by or on behalf of
the Fund in connection with the transactions contemplated by or otherwise
pursuant to this Agreement that is proprietary in nature and that was clearly
marked or labeled or otherwise adequately identified when received by such
Purchaser as being confidential information of the Fund, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that
such term does not include information that (a)&nbsp;was publicly known or
otherwise known to such Purchaser prior to the time of such disclosure,
(b)&nbsp;subsequently becomes publicly known through no act or omission by such
Purchaser or any person acting on such Purchaser&#8217;s behalf, (c)&nbsp;otherwise
becomes known to such Purchaser other than through disclosure by the Fund or
(d)&nbsp;constitutes financial statements delivered to such Purchaser under
Section&nbsp;7.1 that are otherwise publicly available.&#160; Each Purchaser will
maintain the confidentiality of such Confidential Information in accordance
with procedures adopted by such Purchaser in good faith to protect confidential
information of third parties delivered to such Purchaser, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> that
such Purchaser may deliver or disclose Confidential Information to (i)&nbsp;its
directors, trustees, officers, employees, agents, service providers, attorneys
and affiliates (to the extent such disclosure reasonably relates to the
administration of the investment represented by its Notes), (ii)&nbsp;its
auditors, financial advisors and other professional advisors who agree to hold
confidential the Confidential Information substantially in accordance with the
terms of this Section&nbsp;20, (iii)&nbsp;any other holder of any Note,
(iv)&nbsp;any Institutional Investor to which it sells or offers to sell such
Note or any part thereof or any participation therein (if such Person has
agreed in writing prior to its receipt of such Confidential Information to be
bound by the provisions of this Section&nbsp;20), (v)&nbsp;any Person from
which it offers to purchase any security of the Fund (if such Person has agreed
in writing prior to its receipt of such Confidential Information to be bound by
the provisions of this Section&nbsp;20), (vi)&nbsp;any federal or state
regulatory authority having jurisdiction over such Purchaser, (vii)&nbsp;the
NAIC or the SVO or, in each case, any similar organization, or any nationally
recognized rating agency that requires access to information about such
Purchaser&#8217;s investment portfolio, or (viii)&nbsp;any other Person to which such
delivery or disclosure may be necessary or appropriate (w)&nbsp;to effect
compliance with any law, rule, regulation or order applicable to such
Purchaser, (x)&nbsp;in response to any subpoena or other legal process,
(y)&nbsp;in connection with any litigation to which such Purchaser is a party
or (z)&nbsp;if an Event of Default has occurred and is continuing, to the
extent such Purchaser may reasonably determine such delivery and disclosure to
be necessary or appropriate in the enforcement or for the protection of the
rights and remedies under such Purchaser&#8217;s Notes and this Agreement.&#160; Each
holder of a Note, by its acceptance of a Note, will be
deemed to have agreed to be bound by and to be entitled to the benefits of this
Section&nbsp;20 as though it were a party to this Agreement.&#160; On reasonable
request by the Fund in connection with the delivery to any holder of a Note of
information required to be delivered to such holder under this Agreement or
requested by such holder (other than a holder that is a party to this Agreement
or its nominee), such holder will enter into an agreement with the Fund
embodying the provisions of this Section&nbsp;20.&#160; </font></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">42</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">In the event that as a condition to receiving access to
information relating to the Fund in connection with the transactions
contemplated by or otherwise pursuant to this Agreement, any Purchaser or
holder of a Note is required to agree to a confidentiality undertaking (whether
through IntraLinks, another secure website, a secure virtual workspace or
otherwise) which is different from this Section 20, this Section 20 shall not
be amended thereby and, as between such Purchaser or such holder and the Fund,
this Section 20 shall supersede any such other confidentiality undertaking.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;21.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Substitution of Purchaser<a name="_Toc519145361"></a><a name="_Toc519148675"></a><a name="_Toc519148759"></a><a name="_Toc519149125"></a><a name="_Toc519149231"></a><a name="_Toc519149397"></a><a name="_Toc519149480"></a><a name="_Toc65959685"></a><a name="_Toc126306136"></a><a name="_Toc7191184"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Each Purchaser shall have the right to substitute any one
of its Affiliates or another Purchaser or any one of such other Purchaser&#8217;s
Affiliates (a &#8220;</font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Substitute Purchaser</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#8221;) as the purchaser of the Notes that
it has agreed to purchase hereunder, by written notice to the Fund, which
notice shall be signed by both such Purchaser and such Substitute Purchaser,
shall contain such Substitute Purchaser&#8217;s agreement to be bound by this
Agreement and shall contain a confirmation by such Substitute Purchaser of the
accuracy with respect to it of the representations set forth in Section 6.&#160;
Upon receipt of such notice, any reference to such Purchaser in this Agreement
(other than in this Section 21), shall be deemed to refer to such Substitute
Purchaser in lieu of such original Purchaser.&#160; In the event that such
Substitute Purchaser is so substituted as a Purchaser hereunder and such
Substitute Purchaser thereafter transfers to such original Purchaser all of the
Notes then held by such Substitute Purchaser, upon receipt by the Fund of notice
of such transfer, any reference to such Substitute Purchaser as a &#8220;Purchaser&#8221;
in this Agreement (other than in this Section 21), shall no longer be deemed to
refer to such Substitute Purchaser, but shall refer to such original Purchaser,
and such original Purchaser shall again have all the rights of an original
holder of the Notes under this Agreement.</font></p>

<p style="font-variant:small-caps;margin:0in;margin-bottom:0in;margin-left:84.95pt;margin-right:0in;margin-top:16.0pt;page-break-after:avoid;text-indent:-84.95pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Miscellaneous<a name="_Toc519145362"></a><a name="_Toc519148676"></a><a name="_Toc519148760"></a><a name="_Toc519149126"></a><a name="_Toc519149232"></a><a name="_Toc519149398"></a><a name="_Toc519149481"></a><a name="_Toc65959686"></a><a name="_Toc126306137"></a><a name="_Toc7191185"></a>.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.1.&#160;&#160;&#160;&#160; Successors and Assigns<a name="_Toc519145363"></a><a name="_Toc519148677"></a><a name="_Toc519148761"></a><a name="_Toc519149127"></a><a name="_Toc519149233"></a><a name="_Toc519149399"></a><a name="_Toc519149482"></a><a name="_Toc65959687"></a><a name="_Toc126306138"></a><a name="_Toc7191186"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; All covenants and other agreements contained in
this Agreement by or on behalf of any of the parties hereto bind and inure to
the benefit of their respective successors and assigns (including any
subsequent holder of a Note) whether so expressed or not, except that, subject
to Section 10.2, the Fund may not assign or otherwise transfer any of its
rights or obligations hereunder or under the Notes without the prior written
consent of each holder.&#160; Nothing in this Agreement, expressed or implied, shall
be construed to confer upon any Person (other than the parties hereto and their
respective successors and assigns permitted hereby) any legal or equitable
right, remedy or claim under or by reason of this Agreement.&#160; </font></p>


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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.2.&#160;&#160;&#160;&#160; Accounting
Terms<a name="_Toc65959689"></a><a name="_Toc126306140"></a><a name="_Toc7191187"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160; All accounting terms used herein which are
not expressly defined in this Agreement have the meanings respectively given to
them in accordance with Applicable Accounting Principles.&#160; Except as otherwise
specifically provided herein, (i)&nbsp;all computations made pursuant to this
Agreement shall be made in accordance with Applicable Accounting Principles,
and (ii)&nbsp;all financial statements shall be prepared in accordance with
Applicable Accounting Principles.&#160; </font><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">For purposes of
determining compliance with the financial covenants contained in this Agreement
</font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(including Section 9, Section 10 and the definition of &#8220;Indebtedness&#8221;)</font><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">, any election by the Fund to measure an item of
Indebtedness using fair value </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">(as permitted by Financial Accounting
Standards Board Accounting Standards Codification Topic No. 825-10-25 &#8211; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Fair
Value Option,</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> International Accounting Standard 39 &#8211; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Financial
Instruments: Recognition and Measurement</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"> or any similar accounting
standard) </font><font color=black face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">shall be disregarded and such determination
shall be made as if such election had not been </font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">made.&#160; If at any time any
change in Applicable Accounting Principles would affect the computation of any
financial ratio or requirement set forth in this Agreement and (i) the Fund
notifies the holders of Notes that the Fund objects to determining compliance
with such financial ratio or requirement on the basis of Applicable Accounting
Principles in effect immediately after such change becomes effective or (ii)
the Required Holders so object, then the Fund&#8217;s compliance with such ratio or
requirement shall be determined on the basis of Applicable Accounting
Principles in effect immediately before such change becomes effective, until
either such notice is withdrawn by the Fund or the Required Holders, as the
case may be, or the Fund and the Required Holders otherwise agree, </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">provided</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">
that upon such a change in Applicable Accounting Principles which affects the
Fund&#8217;s ability to comply with such financial ratio or requirement, the Fund
shall cause to be delivered to the holders a reconciliation statement for each
set of financial statements delivered pursuant to Section&nbsp;7.1(a) or 7.1(b)
setting forth in reasonable detail the effect of such change in Applicable
Accounting Principles and such reconciliation statement shall be certified by a
Senior Financial Officer of the Fund with respect to any fiscal half&#8209;year
period and by auditors of the Fund with respect to any annual fiscal period.&#160;
Except as otherwise expressly provided herein, the computation of financial
ratios and requirements set forth in this Agreement shall be consistent with
the Fund&#8217;s financial statements required to be delivered hereunder. </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.3.&#160;&#160;&#160;&#160; Severability<a name="_Toc519145365"></a><a name="_Toc519148679"></a><a name="_Toc519148763"></a><a name="_Toc519149129"></a><a name="_Toc519149235"></a><a name="_Toc519149401"></a><a name="_Toc519149484"></a><a name="_Toc65959690"></a><a name="_Toc126306141"></a><a name="_Toc7191188"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall (to the full extent permitted by
law) not invalidate or render unenforceable such provision in any other
jurisdiction.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.4.&#160;&#160;&#160;&#160; Construction, Etc<a name="_Toc519145366"></a><a name="_Toc519148680"></a><a name="_Toc519148764"></a><a name="_Toc519149130"></a><a name="_Toc519149236"></a><a name="_Toc519149402"></a><a name="_Toc519149485"></a><a name="_Toc65959691"></a><a name="_Toc126306142"></a><a name="_Toc7191189"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Each covenant contained herein shall be construed
(absent express provision to the contrary) as being independent of each other
covenant contained herein, so that compliance with any one covenant shall not
(absent such an express contrary provision) be deemed to excuse compliance with
any other covenant.&#160; Where any provision herein refers to action to be taken by
any Person, or which such Person is prohibited from taking, such provision
shall be applicable whether such action is taken directly or indirectly by such
Person.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Defined terms herein shall apply equally to the singular
and plural forms of the terms defined.&#160; Whenever the context may require, any
pronoun shall include the corresponding masculine,
feminine and neuter forms.&#160; The words &#8220;include,&#8221; &#8220;includes&#8221; and &#8220;including&#8221;
shall be deemed to be followed by the phrase &#8220;without limitation.&#8221;&#160; The word
&#8220;will&#8221; shall be construed to have the same meaning and effect as the word
&#8220;shall.&#8221;&#160; Unless the context requires otherwise (a)&nbsp;any definition of or
reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from
time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein)
and, for purposes of the Notes, shall also include any such notes issued in
substitution therefor pursuant to Section 13, (b)&nbsp;subject to Section 22.1,
any reference herein to any Person shall be construed to include such Person&#8217;s
successors and assigns, (c)&nbsp;the words &#8220;herein,&#8221; &#8220;hereof&#8221; and &#8220;hereunder,&#8221;
and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (d)&nbsp;all
references herein to Sections and Schedules shall be construed to refer to
Sections of, and Schedules to, this Agreement, and (e)&nbsp;any reference to
any law or regulation herein shall, unless otherwise specified, refer to such
law or regulation as amended, modified or supplemented from time to time.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">44</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.5.&#160;&#160;&#160;&#160; Counterparts<a name="_Toc519145367"></a><a name="_Toc519148681"></a><a name="_Toc519148765"></a><a name="_Toc519149131"></a><a name="_Toc519149237"></a><a name="_Toc519149403"></a><a name="_Toc519149486"></a><a name="_Toc65959692"></a><a name="_Toc126306143"></a><a name="_Toc7191190"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; This Agreement may be executed in any number of
counterparts, each of which shall be an original but all of which together
shall constitute one instrument.&#160; Each counterpart may consist of a number of
copies hereof, each signed by less than all, but together signed by all, of the
parties hereto.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.6.&#160;&#160;&#160;&#160; Governing Law<a name="_Toc519145368"></a><a name="_Toc519148682"></a><a name="_Toc519148766"></a><a name="_Toc519149132"></a><a name="_Toc519149238"></a><a name="_Toc519149404"></a><a name="_Toc519149487"></a><a name="_Toc65959693"></a><a name="_Toc126306144"></a><a name="_Toc7191191"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; This Agreement shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the law of
the State of New&nbsp;York excluding choice&#8209;of&#8209;law principles of
the law of such State that would permit the application of the laws of a
jurisdiction other than such State.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section&nbsp;22.7.&#160;&#160;&#160;&#160; Jurisdiction and
Process; Waiver of Jury Trial<a name="_Toc65959694"></a><a name="_Toc126306145"></a><a name="_Toc7191192"></a>.</font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;
(a)&nbsp;The Fund irrevocably submits to the non&#8209;exclusive jurisdiction
of any New&nbsp;York state or federal court sitting in the Borough of Manhattan,
The City of New&nbsp;York, over any suit, action or proceeding arising out of
or relating to this Agreement or the Notes.&#160; To the fullest extent permitted by
applicable law, the Fund irrevocably waives and agrees not to assert, by way of
motion, as a defense or otherwise, any claim that it is not subject to the
jurisdiction of any such court, any objection that it may now or hereafter have
to the laying of the venue of any such suit, action or proceeding brought in
any such court and any claim that any such suit, action or proceeding brought
in any such court has been brought in an inconvenient forum.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)  The Fund agrees, to the fullest extent
permitted by applicable law, that a final judgment in any suit, action or
proceeding of the nature referred to in Section 22.7(a) brought in any such
court shall be conclusive and binding upon it subject to rights of appeal, as
the case may be, and may be enforced in the courts of the United States of
America or the State of New York (or any other courts to the jurisdiction of
which it or any of its assets is or may be subject) by a suit upon such
judgment.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160; The Fund consents to process being
served by or on behalf of any holder of Notes in any suit, action or proceeding
of the nature referred to in Section&nbsp;22.7(a) by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail),
postage prepaid, return receipt requested, to it at
its address specified in Section&nbsp;18 or at such other address of which such
holder shall then have been notified pursuant to said Section.&#160; The Fund agrees
that such service upon receipt (i)&nbsp;shall be deemed in every respect
effective service of process upon it in any such suit, action or proceeding and
(ii)&nbsp;shall, to the fullest extent permitted by applicable law, be taken
and held to be valid personal service upon and personal delivery to it.&#160; Notices
hereunder shall be conclusively presumed received as evidenced by a delivery
receipt furnished by the United States Postal Service or any reputable
commercial delivery service.</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">45</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)&#160;&#160;&#160;&#160; Nothing in this Section&nbsp;22.7
shall affect the right of any holder of a Note to serve process in any manner
permitted by law, or limit any right that the holders of any of the Notes may
have to bring proceedings against the Fund in the courts of any appropriate
jurisdiction or to enforce in any lawful manner a judgment obtained in one
jurisdiction in any other jurisdiction.</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (e)&#160;&#160;&#160;&#160; </font><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">The
parties hereto hereby waive trial by jury in any action brought on or with
respect to this Agreement, the Notes or any other document executed in
connection herewith or therewith.</font></font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 22.8.&#160;&#160;&#160;&#160; Rounding<a name="_Toc7191193"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Any financial ratios required to be maintained by the
Fund pursuant to this Agreement shall be calculated by dividing the appropriate
component by the other component, carrying the result to one place more than
the number of places by which such ratio is expressed herein and rounding the
result up or down to the nearest number (with a rounding up if there is no
nearest number).</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:14.0pt;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Section 22.9.&#160;&#160;&#160;&#160; Times of Day<a name="_Toc7191194"></a></font></i><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">.&#160; Unless otherwise specified, all references herein to times of
day shall be references to Eastern time (daylight savings or standard, as
applicable).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">*&#160;&#160;&#160;
*&#160;&#160;&#160; *&#160;&#160;&#160; *&#160;&#160;&#160; *</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">46</font><font style="display:none;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;"></font></font><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">-</font></p>


</DIV>
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<font lang=EN-US>If
you are in agreement with the foregoing, please sign the form of agreement on a
counterpart of this Agreement and return it to the Fund, whereupon this
Agreement shall become a binding agreement between you and the Fund.

</font><p style="margin:0in;margin-bottom:0in;margin-left:245.5pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:245.5pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Very truly yours,</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:245.5pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:245.5pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font style="font-variant:small-caps;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">Aberdeen
Asia-Pacific Income Fund, Inc.</font></font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:245.5pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:245.5pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:245.5pt;margin-right:0in;margin-top:0in;page-break-after:avoid;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">By ____________________________________ </font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:256.3pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160; Name:</font></p>

<p style="margin:0in;margin-bottom:0in;margin-left:256.3pt;margin-right:0in;margin-top:0in;text-indent:-11.5pt;"><font face=Times lang=EN-US style="font-size:12.0pt;line-height:14.0pt;">&#160;&#160;&#160; Title: </font></p>

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<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>4
<FILENAME>NCEN_4543653978221452.txt
<TEXT>
Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Directors of
Aberdeen Asia-Pacific Income Fund, Inc.:

Opinion on the Financial Statements
We have audited the accompanying statement of assets and
liabilities of Aberdeen Asia-Pacific Income Fund, Inc. (the
Fund), including the portfolio of investments, as of October 31,
2019, the related statement of operations and cash flows for
the year then ended, the statements of changes in net assets
for each of the years in the two-year period then ended, and
the related notes (collectively, the financial statements) and
the financial highlights for each of the years in the five-year
period then ended. In our opinion, the financial statements and
financial highlights present fairly, in all material respects, the
financial position of the Fund as of October 31, 2019, the
results of its operations and its cash flows for the year then
ended, the changes in its net assets for each of the years in
the two-year period then ended, and the financial highlights for
each of the years in the five-year period then ended, in
conformity with U.S. generally accepted accounting principles.

Basis for Opinion
These financial statements and financial highlights are the
responsibility of the Fund's management. Our responsibility is
to express an opinion on these financial statements and
financial highlights based on our audits. We are a public
accounting firm registered with the Public Company
Accounting Oversight Board (United States) (PCAOB) and are
required to be independent with respect to the Fund in
accordance with the U.S. federal securities laws and the
applicable rules and regulations of the Securities and
Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of
the PCAOB. Those standards require that we plan and
perform the audit to obtain reasonable assurance about
whether the financial statements and financial highlights are
free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks
of material misstatement of the financial statements and
financial highlights, whether due to error or fraud, and
performing procedures that respond to those risks. Such
procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the financial
statements and financial highlights. Such procedures also
included confirmation of securities owned as of October 31,
2019, by correspondence with the custodian, brokers, or by
other appropriate auditing procedures when replies from
brokers were not received. Our audits also included evaluating
the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation
of the financial statements and financial highlights. We believe
that our audits provide a reasonable basis for our opinion.

/s/ kpmg
We have served as the auditor of one or more Aberdeen
investment companies since 2009.
Philadelphia, Pennsylvania
December 27, 2019


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