<SEC-DOCUMENT>0001144204-16-122543.txt : 20160901
<SEC-HEADER>0001144204-16-122543.hdr.sgml : 20160901
<ACCEPTANCE-DATETIME>20160901170634
ACCESSION NUMBER:		0001144204-16-122543
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20160826
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160901
DATE AS OF CHANGE:		20160901

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CION Investment Corp
		CENTRAL INDEX KEY:			0001534254
		IRS NUMBER:				453058280
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00941
		FILM NUMBER:		161866399

	BUSINESS ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		212 - 418 - 4700

	MAIL ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	C&#298;ON Investment Corp
		DATE OF NAME CHANGE:	20111104
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v448161_8k.htm
<DESCRIPTION>8-K
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<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 3pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C.&nbsp;&nbsp;20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of Report</B> (Date of earliest
event reported):&nbsp;<B>September 1, 2016 </B>(August 26, 2016)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>C&#298;ON Investment Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;(Exact Name of
Registrant as Specified in Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maryland</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>000-54755</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>45-3058280</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or Other Jurisdiction of Incorporation)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 30%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>3 Park Avenue, 36th Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>New York, New York 10016</B></P></TD>
    <TD STYLE="width: 30%; text-align: center; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
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    <TD STYLE="width: 30%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-bottom: 1pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(212) 418-4700</B></FONT></TD>
    <TD STYLE="width: 30%; text-align: center; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant&rsquo;s telephone number, including area code)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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<TR>
    <TD STYLE="width: 30%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Not applicable</B></FONT></TD>
    <TD STYLE="width: 30%; text-align: center; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(Former name or former address, if changed since last report)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>Item
1.01. Entry Into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 26, 2016,
34<SUP>th</SUP> Street Funding, LLC (&ldquo;34<SUP>th</SUP> Street Funding&rdquo;), a newly-formed, wholly-owned, special purpose
financing subsidiary of C&#298;ON Investment Corporation (&ldquo;C&#298;ON&rdquo;), entered into a senior secured credit facility
(the &ldquo;JPM Credit Facility&rdquo;) with JPMorgan Chase Bank, National Association (&ldquo;JPM&rdquo;), as lender and administrative
agent, U.S. Bank National Association, as collateral agent, collateral administrator and securities intermediary, and C&#298;ON
Investment Management, LLC, C&#298;ON&rsquo;s investment adviser (&ldquo;CIM&rdquo;), as portfolio manager. The JPM Credit Facility
provides for delayed-draw borrowings in an aggregate principal amount of $150,000,000, of which $25,000,000 may be funded as a
revolving credit facility, each subject to compliance with a borrowing base. On August 26, 2016, 34<SUP>th</SUP> Street Funding
drew down $57,000,000 of borrowings under the JPM Credit Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">Advances
under the JPM Credit Facility bear interest at a floating rate equal to the three-month London Interbank Offered Rate, plus a
spread of 3.5% per year. Interest is payable quarterly in arrears.</FONT></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
advances under the JPM Credit Facility will mature, and all accrued and unpaid interest thereunder will be due and payable, by
no later than August 23, 2020. 34<SUP>th</SUP> Street Funding may prepay advances pursuant to the terms and conditions of the
loan and security agreement, subject to a 1% premium in certain circumstances</FONT>. In addition, 34<SUP>th</SUP> Street Funding
will be subject to a non-usage fee of 0.50% and 1.0% per year on the amount, if any, of the aggregate principal amount available
under the JPM Credit Facility that&nbsp;has not been borrowed during the period from the closing date and ending on, but excluding,
May 23, 2017 (the &ldquo;Ramp-Up Period&rdquo;) and from the termination of the Ramp-Up Period and ending on, but excluding, August
23, 2019, respectively. The non-usage fees, if any, are payable quarterly in arrears.<FONT STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif">34<SUP>th
</SUP>Street Funding incurred certain customary costs and expenses in connection with obtaining the JPM Credit Facility.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C&#298;ON
sold and/or contributed loans and other corporate debt securities (collectively, the &ldquo;Assets&rdquo;) to 34<SUP>th</SUP> Street
Funding on the closing date pursuant to a sale and contribution agreement in exchange for 100% of the membership interests of 34<SUP>th</SUP>
Street Funding, and will sell and/or contribute Assets to 34<SUP>th</SUP> Street Funding from time to time after the closing date
pursuant to a master participation agreement. 34<SUP>th</SUP> Street Funding&rsquo;s obligations to JPM under the JPM Credit Facility
are secured by a first priority security interest in all of the assets of 34<SUP>th</SUP> Street Funding, including its portfolio
of Assets.</FONT><FONT STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif">The obligations of 34<SUP>th</SUP>
Street Funding under the JPM Credit Facility are non-recourse to C&#298;ON, and C&#298;ON&rsquo;s exposure under the JPM Credit
Facility is limited to the value of C&#298;ON&rsquo;s investment in 34<SUP>th</SUP> Street Funding.</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">34<SUP>th</SUP> Street
Funding has appointed CIM to manage its portfolio of Assets pursuant to the terms of a portfolio management agreement. C&#298;ON
has agreed to guarantee to 34<SUP>th</SUP> Street Funding and JPM the performance obligations of CIM under the portfolio management
agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the JPM Credit Facility, 34<SUP>th</SUP> Street Funding has made certain representations and warranties and is required to comply
with various covenants, reporting requirements and other customary requirements for similar facilities. The JPM Credit Facility
contains customary events of default for similar financing transactions, including, without limitation: (a) the failure to make
any payment when due and thereafter, within one business day following the earlier of (i) 34<SUP>th</SUP> Street Funding becoming
aware of such failure; or (ii) notice of such default is provided by JPM; (b) the insolvency or bankruptcy of 34<SUP>th</SUP> Street
Funding, C&#298;ON, CIM or Apollo Investment Management, L.P. (&ldquo;AIM&rdquo;), C&#298;ON&rsquo;s investment sub-adviser; (c)
a change of control of 34<SUP>th</SUP> Street Funding shall have occurred; (d) CIM resigns or is terminated as portfolio manager
under the portfolio management agreement; (e) AIM or an affiliate thereof ceases to be C&#298;ON&rsquo;s investment sub-adviser;
and (f) the failure to satisfy the minimum net asset value of the Assets securing the JPM Credit Facility and such failure is not
cured within two business days. Upon the occurrence and during the continuation of an event of default, JPM may declare the outstanding
advances and all other obligations under the JPM Credit Facility immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing descriptions
of the JPM Credit Facility and related agreements as set forth in this Item&nbsp;1.01 are summaries only and are each qualified
in all respects by the provisions of such agreements, copies of which are attached hereto as Exhibits 10.1 through 10.5 and are
incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Item 2.03. Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The information in
Item 1.01 of this Current Report on Form&nbsp;8-K is incorporated by reference into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 9.01. Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.5in; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="text-indent: 0in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibits.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT NUMBER</B></FONT></TD>
    <TD STYLE="width: 1%; text-indent: 0in; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 84%; border-bottom: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DESCRIPTION</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan and Security Agreement, dated as of August 26, 2016, by and among 34<SUP>th</SUP> Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank National Association and C&#298;ON<B> </B>Investment Management, LLC</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale and Contribution Agreement, dated as of August 26, 2016, by and between 34<SUP>th</SUP> Street Funding, LLC and C&#298;ON<B> </B>Investment Corporation</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Master Participation Agreement, dated as of August 26, 2016, by and between 34<SUP>th</SUP> Street Funding, LLC and C&#298;ON<B> </B>Investment Corporation</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Portfolio Management Agreement, dated as of August 26, 2016, by and between 34<SUP>th</SUP> Street Funding, LLC and C&#298;ON<B> </B>Investment Management, LLC</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guarantee of C&#298;ON<B> </B>Investment Corporation dated as of August 26, 2016</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 47%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P></TD>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>C&#298;ON
Investment Corporation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;September 1, 2016</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: <U>/s/ Michael A. Reisner</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Co-President and Co-Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center; text-indent: -0.25in"><B>EXHIBIT
LIST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center; text-indent: -0.25in">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT NUMBER</B></FONT></TD>
    <TD STYLE="width: 2%; text-indent: 0in; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: Black 1pt solid; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DESCRIPTION</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan and Security Agreement, dated as of August 26, 2016, by and among 34<SUP>th</SUP> Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank National Association and C&#298;ON<B> </B>Investment Management, LLC</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale and Contribution Agreement, dated as of August 26, 2016, by and between 34<SUP>th</SUP> Street Funding, LLC and C&#298;ON<B> </B>Investment Corporation</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Master Participation Agreement, dated as of August 26, 2016, by and between 34<SUP>th</SUP> Street Funding, LLC and C&#298;ON<B> </B>Investment Corporation</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Portfolio Management Agreement, dated as of August 26, 2016, by and between 34<SUP>th</SUP> Street Funding, LLC and C&#298;ON<B> </B>Investment Management, LLC</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guarantee of C&#298;ON<B> </B>Investment Corporation dated as of August 26, 2016</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v448161_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION COPY<BR>
<BR>
</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%; border-top: Black 2.25pt double; border-bottom: Black 2.25pt double">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">LOAN AND SECURITY AGREEMENT</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">dated as of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">August 26, 2016</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">among</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">34th Street Funding, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The Lenders Party Hereto</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The Collateral Administrator, Collateral
        Agent and Securities Intermediary Party Hereto</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">as Administrative Agent</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="text-transform: uppercase">C&#298;ON
        Investment Management, LLC</font>,<br>
        as Portfolio Manager</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Table of Contents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 94%; text-align: right">&nbsp;</td>
    <td style="vertical-align: bottom; width: 6%; border-bottom: Black 1pt solid; text-align: center">Page</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE I</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">THE PORTFOLIO INVESTMENTS</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 1.01. Purchases of Portfolio Investments</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">17</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 1.02. Procedures for Purchases and Related Advances.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">18</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 1.03. Conditions to Purchases</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">18</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 1.04. Sales of Portfolio Investments</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">19</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 1.05. Certain Assumptions relating to Portfolio Investments.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">21</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 1.06. Deposits and Contributions by Parent.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">21</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE II</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">THE FINANCINGS</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 2.01. Financing Commitments</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">22</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 2.02. First Advance; Additional Advances</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">22</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 2.03. Advances; Use of Proceeds.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">22</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 2.04. Other Conditions to Advances</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">24</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE III</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-decoration: underline; text-align: center; text-transform: uppercase"><u>ADDITIONAL TERMS APPLICABLE TO THE FINANCINGS</u></td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 3.01. The Advances.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">25</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 3.02. Sub-Adviser</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">28</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 3.03. Taxes</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">29</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE IV</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">COLLECTIONS AND PAYMENTS</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 4.01. Interest Proceeds</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">32</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 4.02. Principal Proceeds</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">32</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 4.03. Principal and Interest Payments; Prepayments; Commitment Fee.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">33</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 4.04. Market Value Cure Account</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">34</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 4.05. Priority of Payments</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">35</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 4.06. Payments Generally</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">36</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 4.07. Termination or Reduction of Financing Commitments</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">36</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE V</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">[RESERVED]</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 5.01. [Reserved]</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">37</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE VI</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">REPRESENTATIONS, WARRANTIES AND COVENANTS</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 6.01. Representations and Warranties</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">37</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 6.02. Covenants of the Company and the Portfolio Manager</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">40</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 6.03. Amendments of Portfolio Investments, Etc.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">46</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; width: 94%; text-align: center; text-transform: uppercase">ARTICLE VII</td>
    <td style="vertical-align: bottom; width: 6%; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">EVENTS OF DEFAULT</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE VIII</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ACCOUNTS; COLLATERAL SECURITY</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 8.01. The Accounts; Agreement as to Control</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">49</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 8.02. Collateral Security; Pledge; Delivery</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">51</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE IX</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">THE AGENTS</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 9.01. Appointment of Administrative Agent and Collateral Agent</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">54</td></tr>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.875in; padding-left: 0.875in">SECTION 9.02. Additional Provisions Relating to the Collateral Agent, the Collateral Administrator and the Securities Intermediary.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">57</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">ARTICLE X</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">MISCELLANEOUS</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-align: center; text-transform: uppercase">&nbsp;</td>
    <td style="vertical-align: bottom; text-align: center; text-transform: uppercase">&nbsp;</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.01. Lenders' Representations; Non-Petition; Limited Recourse</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">60</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.02. Notices</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">61</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.03. No Waiver</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">61</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.04. Expenses; Indemnity; Damage Waiver; Right of Setoff</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">61</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.05. Amendments</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">62</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.06. Successors; Assignments</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">63</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.07. Governing Law; Submission to Jurisdiction; Etc.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">65</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.08. Interest Rate Limitation</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">65</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.09. PATRIOT Act</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">65</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.10. Counterparts</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">65</td></tr>
<TR STYLE="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.11. Headings</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">66</td></tr>
<TR STYLE="background-color: White">
    <td style="vertical-align: top; text-indent: 0in">SECTION 10.12. Acknowledgement and Consent to Bail-In of EEA Financial Institutions.</td>
    <td style="vertical-align: bottom; text-align: center; text-indent: 0in">66</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 14%; text-decoration: underline"><u>Schedules</u></td>
    <td style="width: 86%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>Schedule 1</td>
    <td>Transaction Schedule</td></tr>
<tr style="vertical-align: top">
    <td>Schedule 2</td>
    <td>Contents of Notice of Acquisition</td></tr>
<tr style="vertical-align: top">
    <td>Schedule 3</td>
    <td>Eligibility Criteria</td></tr>
<tr style="vertical-align: top">
    <td>Schedule 4</td>
    <td>Concentration Limitations</td></tr>
<tr style="vertical-align: top">
    <td>Schedule 5</td>
    <td>Portfolio Investments</td></tr>
<tr style="vertical-align: top">
    <td>Schedule 6</td>
    <td>Participation Interests</td></tr>
<tr style="vertical-align: top">
    <td>Schedule 7</td>
    <td>Moody's Industry Classifications</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-decoration: underline"><u>Exhibit</u></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>Exhibit A</td>
    <td>Form of Request for Advance</td></tr>
<tr style="vertical-align: top">
    <td>Exhibit B</td>
    <td>Form of Reports</td></tr>
<tr style="vertical-align: top">
    <td>Exhibit C</td>
    <td>Forms of U.S. Tax Compliance Certificates</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>LOAN AND SECURITY AGREEMENT</B> dated as
of August 26, 2016 (this &quot;<U>Agreement</U>&quot;) among 34th Street Funding, LLC, as borrower (the &quot;<U>Company</U>&quot;);
<FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC (the &quot;<U>Portfolio Manager</U>&quot;);
the Lenders party hereto; the Collateral Agent party hereto (in such capacity, the &quot;<U>Collateral Agent</U>&quot;); the Collateral
Administrator party hereto (in such capacity, the &quot;<U>Collateral Administrator</U>&quot;); the Securities Intermediary party
hereto (in such capacity, the &quot;<U>Securities Intermediary</U>&quot;); and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as administrative
agent for the Lenders hereunder (in such capacity, the &quot;<U>Administrative Agent</U>&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Company, a newly formed special purpose
vehicle wholly owned by <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Corp. (the &quot;<U>Parent</U>&quot;),
which is managed by the Portfolio Manager and sub-advised by Apollo Investment Management, L.P. (the &quot;<U>Sub-Adviser</U>&quot;),
wishes to accumulate certain corporate loans and other corporate debt securities (the &quot;<U>Portfolio Investments</U>&quot;),
all on and subject to the terms and conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Company and the Portfolio Manager have
entered into a Portfolio Management Agreement, dated as of the date hereof (the &quot;<U>Portfolio Management Agreement</U>&quot;),
pursuant to which the Portfolio Manager will perform certain investment management and administrative services on behalf of the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Furthermore, the Company intends to enter
into a Sale and Contribution Agreement (the &quot;<U>Sale Agreement</U>&quot;), dated on or about the date hereof, between the
Company and the Parent, pursuant to which the Company shall acquire certain Portfolio Investments listed on Schedule 5 hereto on
the date hereof and from time to time acquire additional Portfolio Investments from the Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Furthermore, the Company intends to acquire
Participation Interests with elevation in certain Portfolio Investments listed on Schedule 6 hereto pursuant to a Master Participation
Agreement (the &quot;<U>Master Participation Agreement</U>&quot;), dated on or about the date hereof, between the Company and Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">On and subject to the terms and conditions
set forth herein, JPMorgan Chase Bank, National Association (&quot;<U>JPMCB</U>&quot;) and its respective successors and permitted
assigns (together with JPMCB, the &quot;<U>Lenders</U>&quot;) have agreed to make advances to the Company (&quot;<U>Advances</U>&quot;)
hereunder to the extent specified on the transaction schedule attached as Schedule&nbsp;1 hereto (the &quot;<U>Transaction Schedule</U>&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Accordingly, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Certain Defined Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Accounts</U>&quot; has the meaning
set forth in Section 8.01(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Additional Distribution Date</U>&quot;
has the meaning set forth in Section 4.05.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Adjusted Applicable Margin</U>&quot;
means the stated Applicable Margin for Advances set forth on the Transaction Schedule plus 2% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Adverse Proceeding</U>&quot; means
any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation or arbitration (whether
or not purportedly on behalf of Company) at law or in equity, or before or by any Governmental Authority, whether pending, active
or, to the Company's or the Portfolio Manager's knowledge, threatened against or affecting the Company or the Portfolio Manager
or their respective property that would reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Affiliate</U>&quot; means, with respect
to any Person, any Person directly or indirectly controlling, controlled by, or under common control with, such former Person but,
which shall not, with respect to the Company, include the obligors under any Portfolio Investment. For the purposes of this definition,
control of a Person shall mean the power, direct or indirect, (i) to vote more than 50% of the securities having ordinary voting
power for the election of directors of any such Person or (ii) to direct or cause the direction of the management and policies
of such Person whether by contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Agent</U>&quot; has the meaning set
forth in Section 9.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Agent Business Day</U>&quot; means
any day on which commercial banks settle payments in each of New York City and the city in which the corporate trust office of
the Collateral Agent is located (which shall initially be Boston).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Amendment</U>&quot; has the meaning
set forth in Section 6.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Anti-Corruption Laws</U>&quot; means
all laws, rules, and regulations of any jurisdiction applicable to the Company from time to time concerning or relating to bribery
or corruption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Applicable Law</U>&quot; means, for
any Person, all existing and future laws, rules, regulations (including temporary and final income tax regulations), statutes,
treaties, codes, ordinances, permits, certificates, orders, licenses of and interpretations by any Governmental Authority applicable
to such Person and applicable judgments, decrees, injunctions, writs, awards or orders of any court, arbitrator or other administrative,
judicial, or quasi-judicial tribunal or agency of competent jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Base Rate</U>&quot; means, for any
day, a rate <I>per annum</I> equal to the greater of (a)&nbsp;the Prime Rate in effect on such day and (b)&nbsp;the Federal Funds
Effective Rate in effect on such day <U>plus</U>&nbsp;0.50%. Any change in the Base Rate due to a change in the Prime Rate or the
Federal Funds Effective Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal
Funds Effective Rate, respectively. In the event that the Base Rate is below zero at any time during the term of this Agreement,
it shall be deemed to be zero until it exceeds zero again.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Borrowing Base Test</U>&quot; means
a test that will be satisfied on any date of determination if the following is true:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><IMG SRC="tpg05.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>AR</I> = 45%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Business Day</U>&quot; means any
day on which commercial banks are open in each of New York City and the city in which the corporate trust office of the Collateral
Agent is located; <I>provided</I> that, with respect to any LIBOR related provisions herein, &quot;Business Day&quot; shall be
deemed to exclude any day on which banks are required or authorized to be closed in London, England.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Calculation Period</U>&quot; means
the quarterly period from and including the date on which the first Advance is made hereunder to but excluding the first Calculation
Period Start Date following the date of such Advance and each successive quarterly period from and including a Calculation Period
Start Date to but excluding the immediately succeeding Calculation Period Start Date (or, in the case of the last Calculation Period,
if the last Calculation Period does not end on the last calendar day of February, May, August or November, the period from and
including the related Calculation Period Start Date to but excluding the Maturity Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Calculation Period Start Date</U>&quot;
means the last calendar day of February, May, August or November of each year (or, if any such date is not a Business Day, the
immediately succeeding Business Day), commencing in November 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Change in Law</U>&quot; means the
occurrence, after the date of this Agreement, of any of the following: (a)&nbsp;the adoption or taking effect of any law, rule,
regulation or treaty, (b)&nbsp;any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation
or application thereof by any Governmental Authority or (c)&nbsp;the making or issuance of any request, rule, guideline or directive
(whether or not having the force of law) by any Governmental Authority; <I>provided</I> that all requests, rules, guidelines or
directives concerning liquidity and capital adequacy issued by any United States regulatory authority (i) under or in connection
with the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act and (ii) in connection with the implementation
of the recommendations of the Bank for International Settlements or the Basel Committee on Banking Regulations and Supervisory
Practices (or any successor or similar authority) shall be deemed to have occurred after the date of this Agreement for purposes
of this definition, regardless of the date adopted, issued, promulgated or implemented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Change of Control</U>&quot; means
an event or series of events by which (A) the Parent or its Affiliates, collectively, (i) shall cease to possess, directly or indirectly,
the right to elect or appoint (through contract, ownership of voting securities, or otherwise) managers that at all times have
a majority of the votes of the board of managers (or similar governing body) of the Company or to direct the management policies
and decisions of the Company or (ii) cease, directly or indirectly, to own and control legally and beneficially all of the equity
interests of the Company or (B) <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC or its Affiliates
shall cease to be the investment advisor of the Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Charges</U>&quot; has the meaning
set forth in Section 10.08.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Code</U>&quot; means the Internal
Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Collateral</U>&quot; has the meaning
set forth in Section 8.02(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Collateral Principal Amount</U>&quot;
means on any date of determination (A) the aggregate principal balance of the Portfolio, including the funded and unfunded balance
on any Delayed Funding Term Loan, as of such date<I> plus</I> (B) the amounts on deposit in the Accounts (including cash and Eligible
Investments) representing Principal Proceeds as of such date <I>minus</I> (C) the aggregate principal balance of all Ineligible
Investments as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Collection Account</U>&quot; has
the meaning set forth in Section 8.01(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Concentration Limitation Excess</U>&quot;
means, on any date of determination, without duplication, all or the portion of the principal amount of any Portfolio Investment
that exceeds any Concentration Limitation as of such date; <I>provided</I> that the Portfolio Manager shall select in its sole
discretion which Portfolio Investment(s) constitute part of the Concentration Limitation Excess; <I>provided</I> <I>further</I>
that with respect to any Delayed Funding Term Loan, the Portfolio Manager shall select any term Portfolio Investment from the same
obligor and/or any funded portion of the aggregate commitment amount of such Delayed Funding Term Loan before selecting any unfunded
portion of such aggregate commitment amount; <I>provided</I>, <I>further</I>, that, if the Portfolio Manager does not so select
any Portfolio Investment(s), the applicable portion of the Portfolio Investment(s) determined by the Administrative Agent shall
make up the Concentration Limitation Excess.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Concentration Limitations</U>&quot;
has the meaning set forth in Schedule 4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Connection Income Taxes</U>&quot;
means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or
branch profits Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Credit Risk Party</U>&quot; has the
meaning set forth in Article VII.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Custodial Account</U>&quot; has the
meaning set forth in Section 8.01(a)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Delayed Funding Term Loan</U>&quot;
means any Loan that (a) requires the holder thereof to make one or more future advances to the obligor under the underlying instruments
relating thereto, (b) specifies a maximum amount that can be borrowed on one or more fixed borrowing dates, and (c) does not permit
the re-borrowing of any amount previously repaid by the obligor thereunder; but any such Loan will be a Delayed Funding Term Loan
only until all commitments by the holders thereof to make advances to the obligor thereon expire or are terminated or reduced to
zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&quot;<U>Deliver</U>&quot;
has the meaning set forth in Section 8.02(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Designated Email Notification Address</U>&quot;
means &quot;CIONAgentNotices@iconinvestments.com&quot; with a copy to the Portfolio Manager at &quot;<FONT STYLE="font-family: Times New Roman, Times, Serif">CIONAgentNotices@iconinvestments.com</FONT>&quot;,
<I>provided</I> that, so long as no Event of Default shall have occurred and be continuing and no Market Value Event shall have
occurred, the Company may, upon at least five (5) Business Day's written notice to the Administrative Agent, the Collateral Administrator
and the Collateral Agent, designate any other email address as the Designated Email Notification Address.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Designated Independent Broker-Dealer</U>&quot;
means J.P. Morgan Securities LLC; <I>provided</I> that, so long as no Market Value Event shall have occurred and no Event of Default
shall have occurred and be continuing, the Portfolio Manager may, upon at least five (5) Business Day's written notice to the Administrative
Agent, the Collateral Administrator and the Collateral Agent, designate another Independent Broker-Dealer as the Designated Independent
Broker-Dealer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>EBITDA</U>&quot; means, with respect
to the last four full fiscal quarters with respect to any Portfolio Investment, the meaning of &quot;EBITDA&quot;, &quot;Adjusted
EBITDA&quot; or any comparable definition in the underlying instruments for each such Portfolio Investment, and in any case that
&quot;EBITDA&quot;, &quot;Adjusted EBITDA&quot; or such comparable definition is not defined in such underlying instruments, an
amount, for the obligor on such Portfolio Investment and any parent that is obligated pursuant to the underlying instruments for
such Portfolio Investment (determined on a consolidated basis without duplication in accordance with GAAP) equal to earnings from
continuing operations for such period <I>plus</I> (a)&nbsp;interest expense, (b)&nbsp;income taxes, (c)&nbsp;depreciation and amortization
for such four fiscal quarter period (to the extent deducted in determining earnings from continuing operations for such period),
(d)&nbsp;amortization of intangibles (including, but not limited to, goodwill, financing fees and other capitalized costs), other
non-cash charges and organization costs, (e)&nbsp;extraordinary losses, (f)&nbsp;one-time, non-recurring, unusual or non-cash charges
consistent with the applicable compliance statements and financial reporting packages provided by such obligor, and (g)&nbsp;any
other item the Portfolio Manager and the Administrative Agent mutually deem to be appropriate; <U>provided</U> that with respect
to any obligor for which four full fiscal quarters of economic data are not available, EBITDA shall be determined for such obligor
based on annualizing the economic data from the reporting periods actually available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Effective Date</U>&quot; has the
meaning set forth in Section 2.04.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Eligibility Criteria</U>&quot; has
the meaning set forth in Section 1.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Eligible Investments</U>&quot; has
the meaning set forth in Section 4.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>ERISA</U>&quot; means the United
States Employee Retirement Income Security Act of 1974, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>ERISA Affiliate</U>&quot; means any
trade or business (whether or not incorporated) under common control with the Company or the Parent, as applicable, within the
meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section
412, 430 or 431 of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>ERISA Event</U>&quot; means that
(1) any of the Company or the Parent has underlying assets which constitute &quot;plan assets&quot; within the Plan Asset Rules
or (2) any of the Company, the Parent or any ERISA Affiliate sponsors, maintains, contributes to, is required to contribute to
or has any material liability with respect to any Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Event of Default</U>&quot; has the
meaning set forth in Article VII.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Excess Funded Amount</U>&quot; means,
on any date of determination, the amount (if any) by which (x) the aggregate outstanding principal amount of the Advances on such
date exceeds (y) the Minimum Funding Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Excess Interest Proceeds</U>&quot;
means, at any time of determination, the excess of (1) amounts then on deposit in the Accounts representing Interest Proceeds over
(2) the sum of (x) the projected amount required to be paid pursuant to Section 4.05(b) on the next Interest Payment Date, the
next Additional Distribution Date or the Maturity Date, as applicable, and (y) the Expense Cap Amount applicable on the next Interest
Payment Date, in the case of clause (1) and clause (2)(x), as determined by the Company in good faith and in a commercially reasonable
manner and, in the case of clause (1), verified by the Collateral Agent and, in the case of clause (2)(x), verified by the Administrative
Agent (which verification shall be deemed to be given upon the written confirmation (or deemed confirmation) of the Administrative
Agent to a Permitted Distribution or Permitted Tax Distribution, as applicable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Excluded Taxes</U>&quot; means any
of the following Taxes imposed on or with respect to a Secured Party or required to be withheld or deducted from a payment to a
Secured Party, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes and branch profits Taxes,
in each case, (i) imposed as a result of such Secured Party being organized under the laws of, or having its principal office or,
in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision
thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts
payable to or for the account of such Lender with respect to an applicable interest in a Financing Commitment or Advance pursuant
to a law in effect on the date on which (i) such Lender acquires such interest in the Financing Commitment or Advance or (ii) such
Lender changes its lending office, except in each case to the extent that, pursuant to Section 3.03, amounts with respect to such
Taxes were payable either to such Lender's assignor immediately before such Lender became a party hereto or to such Lender immediately
before it changed its lending office, (c) Taxes attributable to such Secured Party's failure to comply with Section 3.03(f) and
(d) any U.S. federal withholding Taxes imposed under FATCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>FATCA</U>&quot; means Sections 1471
through 1474 of the Code as of the date of this Agreement (or any amended or successor version that is substantively comparable
and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any intergovernmental
agreements thereunder, similar or related non-U.S. law that corresponds to Sections 1471 to 1474 of the Code, any agreements entered
into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreement entered into in connection with the implementation
of such sections of the Code and any U.S. or non-U.S. fiscal or regulatory law, legislation, rules, guidance, notes or practices
adopted pursuant to such intergovernmental agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Federal Funds Effective Rate</U>&quot;
means, for any day, the rate per annum equal to the rates on overnight Federal funds transactions with members of the Federal Reserve
System (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time to
time), as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published
for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for
such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected
by it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Financing Commitment</U>&quot; means,
with respect to each Lender, the commitment of such Lender to provide Advances to the Company hereunder in an amount up to but
not exceeding the amount set forth opposite such Lender's name on the Transaction Schedule that is held by such Lender at such
time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Foreign Lender</U>&quot; means a
Lender that is not a U.S. Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>GAAP</U>&quot; means generally accepted
accounting principles in the effect from time to time in the United States, as applied from time to time by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Governmental Authority</U>&quot;
means the government of the United States of America or any other nation, or of any political subdivision thereof, whether state
or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national
bodies such as the European Union or the European Central Bank).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Indebtedness</U>&quot; as applied
to any Person, means, without duplication, as determined in accordance with GAAP, (i) all indebtedness of such Person for borrowed
money; (ii) all obligations of such Person evidenced by bonds, debentures, notes, deferrable securities or other similar instruments;
(iii) all obligations of such Person to pay the deferred purchase price of property or services, except trade accounts payable
and accrued expenses arising in the ordinary course of business; (iv) that portion of obligations with respect to capital leases
that is properly classified as a liability on a balance sheet; (v) all non-contingent obligations of such Person to reimburse or
prepay any bank or other Person in respect of amounts paid under a letter of credit, banker's acceptance or similar instrument;
(vi) all debt of others secured by a Lien on any asset of such Person, whether or not such debt is assumed by such Person; and
(vii) all debt, lease obligations or similar obligations to repay money of others guaranteed by such Person or for which such Person
acts as surety and other contingent obligations to purchase, to provide funds for payment, to supply funds to invest in any Person
or otherwise to assure a creditor against loss. Notwithstanding the foregoing, &quot;Indebtedness&quot; shall not include a commitment
arising in the ordinary course of business to purchase a future Portfolio Investment in accordance with the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Indemnified Person</U>&quot; has
the meaning specified in Section 5.03(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Indemnified Taxes</U>&quot; means
(a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the
Company under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Indemnitee</U>&quot; has the meaning
set forth in Section 10.04(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&quot;<U>Independent
Broker-Dealer</U>&quot; means any of the following (as such list may be revised from time to time by mutual agreement of the Company
and the Administrative Agent): Bank of America/Merrill Lynch, Barclays Bank, BMO Capital Markets, BNP Paribas, Citibank, Credit
Suisse, Deutsche Bank, Goldman Sachs, Jeffries, JPMorgan, Morgan Stanley, Nomura, RBC Capital Markets, UBS, Wells Fargo and any
Affiliate of any of the foregoing, but in no event including the Company or any Affiliate of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Ineligible Investment</U>&quot; means
any Portfolio Investment that fails, at any time, to satisfy the Eligibility Criteria; <I>provided</I>, that, with respect to any
Portfolio Investment for which the Administrative Agent has waived one or more of the criteria set forth on Schedule 3, the Eligibility
Criteria in respect of such Portfolio Investment shall be deemed not to include such waived criteria at any time after such waiver
and such Portfolio Investment shall not be considered an &quot;Ineligible Investment&quot; by reason of its failure to meet such
waived criteria; <I>provided</I>, <I>further</I>, that any Portfolio Investment (other than an Initial Portfolio Investment) which
has not been approved by the Administrative Agent pursuant to Section 1.02 on or prior to its Trade Date will be deemed to be an
Ineligible Investment until such later date (if any) on which such Portfolio Investment is so approved; <I>provided</I> <I>further</I>
that any Participation Interest granted under the Sale Agreement that has not been elevated to an absolute assignment on or prior
to the 30th calendar day following the Effective Date shall constitute an Ineligible Investment until the date on which such elevation
has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Initial Portfolio Investments</U>&quot;
means the Portfolio Investments listed in Schedule 5 and Schedule 6 on the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Interest Payment Date</U>&quot; has
the meaning set forth in Section 4.03(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Interest Proceeds</U>&quot; means
all payments of interest received in respect of the Portfolio Investments and Eligible Investments acquired with the proceeds of
Portfolio Investments (in each case other than accrued interest purchased using Principal Proceeds, but including proceeds received
from the sale of interest accrued after the date on which the Company acquired the related Portfolio Investment), all other payments
on the Eligible Investments acquired with the proceeds of Portfolio Investments (for the avoidance of doubt, such other payments
shall not include principal payments (including, without limitation, prepayments, repayments or sale proceeds) with respect to
Eligible Investments acquired with Principal Proceeds) and all payments of fees, dividends and other similar amounts received in
respect of the Portfolio Investments or deposited into any of the Accounts (including closing fees, commitment fees, facility fees,
late payment fees, amendment fees, waiver fees, prepayment fees and premiums, ticking fees, delayed compensation, customary syndication
or other up-front fees and customary administrative agency or similar fees);<I> provided</I>, <I>however</I>, that for the avoidance
of doubt, Interest Proceeds shall not include amounts or Eligible Investments in the MV Cure Account or the Unfunded Exposure Account
or, in neither case, any proceeds therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Investment</U>&quot; means (a) the
purchase of any debt or equity security of any other Person, or (b) the making of any loan or advance to any other Person, or (c)
becoming obligated with respect to a contingent obligation in respect of obligations of any other Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>IRS</U>&quot; means the United States
Internal Revenue Service or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Lender</U>&quot; has the meaning
set forth in Section 2.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Lender Participant</U>&quot; has
the meaning set forth in Section 10.06(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Liabilities</U>&quot; has the meaning
set forth in Section 5.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>LIBO Rate</U>&quot; means, for each
Calculation Period relating to an Advance, the rate appearing on the Reuters Screen at approximately 11:00 a.m., London time, two
(2) Business Days prior to the commencement of such Calculation Period, as the rate for U.S. dollar deposits with a maturity of
three months. If such rate is not available at such time for any reason, then the LIBO Rate for such Calculation Period shall be
equal to the rate that results from interpolating on a linear basis between (a) the rate appearing on the Reuters Screen for the
longest period available that is shorter than three months and (b) the rate appearing on the Reuters Screen that is the shortest
period available that is longer than three months. The LIBO Rate shall be determined by the Administrative Agent (and notified
in writing to the Collateral Administrator and the Portfolio Manager), and such determination shall be conclusive absent manifest
error. Notwithstanding anything in the foregoing to the contrary, if the LIBO Rate as calculated for any purpose under this Agreement
is below zero, the LIBO Rate will be deemed to be zero for such purpose until such time as it exceeds zero again.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Lien</U>&quot; means any security
interest, lien, charge, pledge, preference, equity or encumbrance of any kind, including tax liens, mechanics' liens and any liens
that attach by operation of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Loan</U><FONT STYLE="font-size: 10pt">&quot;</FONT>
means any obligation for the payment or repayment of borrowed money that is documented by a term loan agreement or other similar
credit agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Loan Documents</U>&quot; means this
Agreement, the Portfolio Management Agreement, the Performance Guarantee, the Master Participation Agreement and the Sale Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Margin Stock</U>&quot; has the meaning
provided such term in Regulation U of the Board of Governors of the Federal Reserve Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Market Value</U>&quot; means, on
any date of determination, (i) with respect to any Senior Secured Loan or Second Lien Loan, the average indicative bid-side price
determined by Markit Group Limited or LoanX, Inc. (or, if the Administrative Agent determines in its sole discretion that such
bid price is not available or is not indicative of the actual current market value, the market value of such Senior Secured Loan
or Second Lien Loan as determined by the Administrative Agent in good faith and in a commercially reasonable manner) and (ii) with
respect to any other Portfolio Investment, the market value of such Portfolio Investment as determined by the Administrative Agent
in good faith and in a commercially reasonable manner, in each case, expressed as a percentage of par.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">So long as no Market Value Event has occurred
or Event of Default has occurred and is continuing, the Portfolio Manager shall have the right to initiate a dispute of the Market
Value of certain Portfolio Investments as set forth below; <I>provided</I> that the Portfolio Manager provides the bid or valuation
set forth below no later than 12:00 p.m. New York City time on the Business Day immediately following the related date of determination.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the Portfolio Manager disputes the determination of Market Value with respect to any Portfolio Investment</FONT> whose Market Value
is not determined by the Administrative Agent using Markit Group Limited or LoanX, Inc.<FONT STYLE="font-family: Times New Roman, Times, Serif">,
the Portfolio Manager may, with respect to up to three such Portfolio Investments in each calendar quarter, engage a Nationally
Recognized Valuation Provider, at the expense of the Company, to provide a valuation of the applicable Portfolio Investments and
submit evidence of such valuation to the Administrative Agent. </FONT>With respect to any Portfolio Investment whose Market Value
is determined by the Administrative Agent using Markit Group Limited or LoanX, Inc., the Portfolio Manager may, at the expense
of the Company, obtain a written executable bid from an Independent Broker-Dealer for the full principal amount (or, in the case
of a Portfolio Investment with a par amount greater than $10,000,000, such executable bid shall be for at least two-thirds of the
par amount of such Portfolio Investment) of such Portfolio Investment and submit evidence of such bid to the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
market value of any Portfolio Investment determined in accordance with the immediately preceding paragraph will be the Market Value
for the applicable Portfolio Investment from and after (but not earlier than) the Business Day following receipt of notice of such
valuation by the Administrative Agent until</FONT> the Administrative Agent has made a good faith and commercially reasonable determination
that the Market Value of such Portfolio Investment has changed, in which case the Administrative Agent may determine another Market
Value (in accordance with the definition of Market Value).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Notwithstanding anything to the contrary herein,
(A) the Market Value for any Portfolio Investment shall not be greater than the par amount thereof, (B) the Market Value of any
Ineligible Investment shall be deemed to be zero and (C) the Administrative Agent shall be entitled to disregard as invalid any
bid submitted by the Portfolio Manager from any Independent Broker-Dealer if, in the Administrative Agent's good faith judgment:
(i) such Independent Broker-Dealer is ineligible to accept assignment or transfer of the relevant Portfolio Investment or portion
thereof, as applicable, substantially in accordance with the then-current market practice in the principal market for such Portfolio
Investment, as reasonably determined by the Administrative Agent; or (ii) such firm bid or such firm offer is not bona fide due
to the insolvency of the Independent Broker-Dealer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Administrative Agent shall notify the
Company, the Portfolio Manager and the Collateral Administrator in writing of the then-current Market Value of each Portfolio Investment
in the Portfolio no later than the 5th day of each calendar month or upon the reasonable request of the Portfolio Manager (but
no more frequently than three requests per calendar month). Any notification from the Administrative Agent to the Company that
the events set forth in clause (A)(i) of the definition of the term Market Value Event have occurred and are continuing shall be
accompanied by a written statement showing the then-current Market Value of each Portfolio Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Market Value Cure</U>&quot; means,
on any date of determination, (i) with the prior written consent of the Administrative Agent, the contribution by the Parent of
additional Portfolio Investments and the pledge and Delivery thereof by the Company to the Collateral Agent pursuant to the terms
hereof, (ii) the contribution by the Parent of cash to the Company and the pledge and Delivery thereof by the Company to the Collateral
Agent pursuant to the terms hereof (which amounts shall be deposited in the MV Cure Account), (iii) the prepayment by the Company
of an aggregate principal amount of Advances (together with accrued and unpaid interest thereon) or (iv) any combination of the
foregoing clauses (i), (ii) and (iii), in each case during the Market Value Cure Period, at the option of the Portfolio Manager
(subject to the consent of the Administrative Agent set forth in clause (i)), and in an amount such that the Net Asset Value exceeds
the product of (a) the Market Value Cure Trigger specified on the Transaction Schedule and (b) the Net Advances; <I>provided </I>that,
any Portfolio Investment contributed to the Company in connection with the foregoing must meet all of the applicable Eligibility
Criteria (unless otherwise consented to by the Administrative Agent) and the Concentration Limitations shall be satisfied after
such contribution. For the purposes of any request for consent of the Administrative Agent pursuant to clause (i) in the immediately
preceding sentence, if the Company notifies the Administrative Agent on the day on which the events set forth in clause (A)(i)
of the definition of the term Market Value Event has occurred and is continuing of its intention to contribute a Portfolio Investment
to the Company to cure such event and requests the related consent thereto, the Administrative Agent shall respond to such request
no later than one (1) Business Day after such notice is received. In connection with any Market Value Cure, a Portfolio Investment
shall be deemed to have been contributed to the Company if there has been a valid, binding and enforceable contract for the assignment
of such Portfolio Investment to the Company and, in the reasonable judgment of the Portfolio Manager, such assignment will settle,
in the case of a Loan, within fifteen (15) Business Days thereof and, in the case of any other Portfolio Investment, within four
(4) Business Days thereof. The Portfolio Manager shall use its commercially reasonable efforts to effect any such assignment within
such time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Market Value Cure Failure</U>&quot;
means the failure by the Company to effect a Market Value Cure as set forth in the definition of such term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Market Value Cure Period</U>&quot;
means the period commencing on the Business Day on which the Portfolio Manager receives notice from the Administrative Agent (which
if received after 2:00 p.m., New York City time, on any Business Day, shall be deemed to have been received on the next succeeding
Business Day) of the occurrence of the events set forth in clause (A)(i) of the definition of the term Market Value Event and ending
at (x) the close of business in New York two (2) Business Days thereafter or (y) such later date and time as may be agreed to by
the Administrative Agent in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Market Value Event</U>&quot; means
(A) the occurrence of both of the following events (i) the Administrative Agent shall have determined and notified the Portfolio
Manager in writing (with a copy to the Collateral Agent) as of any date that the Net Asset Value does not equal or exceed the product
of (a) the Market Value Trigger specified on the Transaction Schedule and (b) the Net Advances and (ii) a Market Value Cure Failure
or (B) if in connection with any Market Value Cure, a Portfolio Investment sold, contributed or deemed to have been contributed
to the Company shall fail to settle within (i) in the case of a Loan, fifteen (15) Business Days from the related Trade Date thereof
and (ii) in the case of any other Portfolio Investment, four (4) Business Days from the related Trade Date thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Material Adverse Effect</U>&quot;
means a material adverse effect on (a) the business, assets, operations or condition, financial or otherwise, of the Company or
the Portfolio Manager, taken as a whole, (b) the ability of the Company, the Parent or the Portfolio Manager to perform its obligations
under this Agreement or any of the other Loan Documents or (c) the rights or remedies available to the Administrative Agent or
the Lenders under this Agreement or any of the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Material Amendment</U>&quot; has
the meaning set forth in Section 10.06(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Maturity Date</U>&quot; means the
date that is the earliest of (1) the Scheduled Termination Date set forth on the Transaction Schedule, (2) the date on which the
Secured Obligations become due and payable upon the occurrence of an Event of Default under Article VII and the acceleration of
the Secured Obligations, (3) the date on which the principal amount of the Advances is irrevocably reduced to zero as a result
of one or more prepayments and the Financing Commitments are irrevocably terminated and (4) the date after a Market Value Event
on which all Portfolio Investments have been sold and the proceeds therefrom have been received by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Maximum Rate</U>&quot; has the meaning
set forth in Section 10.08.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Mezzanine Obligation</U>&quot; means
a Portfolio Investment which is unsecured, subordinated debt of a company that represents a claim on such company's assets which
is senior only to that of the equity securities of such company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Minimum Funding Amount</U>&quot;
means, on any date of determination, the amount set forth in the table below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Period Start Date</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Period End Date</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Minimum Funding Amount (U.S.$)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 33%; text-align: left">Effective Date</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: left">To and including, September, 30, 2016</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 30%; text-align: right">57,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">From and excluding September, 30, 2016</TD><TD>&nbsp;</TD>
    <TD>To and including March 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>From and excluding March 31, 2017</TD><TD>&nbsp;</TD>
    <TD>Last day of Reinvestment Period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>MV Cure Account</U>&quot; has the
meaning set forth in Section 8.01(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Nationally Recognized Valuation Provider</U>&quot;
means (i) Lincoln International LLC (f/k/a Lincoln Partners LLC), (ii) Valuation Research Corporation, (iii) Alvarez &amp; Marsal,
(iv) Duff &amp; Phelps Corp., (v) Murray Devine and (vi) Hilco Capital; <I>provided</I> that any independent entity providing professional
asset valuation services may be added to this definition by the Company (with the consent of the Administrative Agent) or added
to this definition by the Administrative Agent from time to time by notice thereof to the Company and the Portfolio Manager; <I>provided</I>,
<I>further</I>, that the Administrative Agent may remove any provider from this definition by written notice to the Company and
the Portfolio Manager so long as, after giving effect to such removal, there are at least three providers designated pursuant to
this definition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Net Advances</U>&quot; means the
principal amount of the outstanding Advances (inclusive of requisite Advances for any outstanding Purchase Commitments which have
traded but not settled) minus the amounts then on deposit in the Accounts (including cash and Eligible Investments) representing
Principal Proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Net Asset Value</U>&quot; means,
on any date of determination the sum of (A) the sum, with respect to each Portfolio Investment (both owned by the Company and in
respect of which there is an outstanding Purchase Commitment that has not settled) other than the unfunded commitment amount of
the Delayed Funding Term Loan, of the product of (x) the Market Value of such Portfolio Investment multiplied by (y) the funded
principal amount of such Portfolio Investment plus (B) the amounts then on deposit in the Unfunded Exposure Account (including
cash and Eligible Investments);<I> provided</I> that, for the avoidance of doubt, (1) the Concentration Limitation Excess, (2)
any Portfolio Investment for which a pending Purchase Commitment remains unsettled, as of such date of determination, for a period
longer than (x) in the case of a Loan, fifteen (15) Business Days from the related Trade Date thereof and (y) in the case of any
other Portfolio Investment, four (4) Business Days from the related Trade Date thereof and (3) any Ineligible Investments will
be excluded from the calculation of the Net Asset Value and assigned a value of zero for such purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Non-Call Period</U>&quot; means the
period beginning on, and including, the Effective Date and ending on, but excluding, August 23, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Notice of Acquisition</U>&quot; has
the meaning set forth in Section 1.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Other Connection Taxes</U>&quot;
means, with respect to any Secured Party, Taxes imposed as a result of a present or former connection between such Secured Party
and the jurisdiction imposing such Tax (other than connections arising from such Secured Party having executed, delivered, become
a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged
in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Advance or Loan Document).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Other Taxes</U>&quot; means all present
or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under,
or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to
an assignment (other than an assignment made pursuant to Section 3.01(f) relating to the replacement of Lenders).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Participant Register</U>&quot; has
the meaning specified in Section 10.06(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&quot;<U>Participation Interest</U>&quot;
means a participation interest in a Loan or a debt security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>PATRIOT Act</U>&quot; has the meaning
set forth in Section 2.04(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Performance Guarantee</U>&quot; means
the performance guarantee, dated as of the date hereof, issued by the Parent with respect to the Portfolio Manager's obligations
under the Portfolio Management Agreement and this Loan Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Permitted Distribution</U>&quot;
means, on any Business Day, distributions of Interest Proceeds (at the discretion of the Company) to the Parent (or other permitted
equity holders of the Company); <I>provided</I> that amounts may be distributed pursuant to this definition only to the extent
of available Excess Interest Proceeds and only so long as (i) no Event of Default has occurred and is continuing (or would occur
after giving effect to such Permitted Distribution), (ii) no Market Value Event shall have occurred (or would occur after giving
effect to such Permitted Distribution), (iii) the Borrowing Base Test is satisfied (and will be satisfied after giving effect to
such Permitted Distribution), (iv) the Company gives at least two (2) Business Days' prior written notice thereof to the Administrative
Agent, the Collateral Agent and the Collateral Administrator, (v) not more than three Permitted Distributions are made in any single
Calculation Period and (vi) the Administrative Agent confirms in writing (which may be by email) to the Collateral Agent and the
Collateral Administrator that the conditions to a Permitted Distribution set forth herein are satisfied; <I>provided</I> that,
if the Administrative Agent does not notify the Collateral Agent and the Collateral Administrator in writing (which may be by email)
that it does or does not confirm that such conditions are satisfied within two (2) Business Days following delivery of written
notice (which may be by email) of a proposed Permitted Distribution requesting such confirmation and addressed to each of the employees
of the Administrative Agent identified on Schedule 2 hereto (as modified by the Administrative Agent from time to time in writing),
the Administrative Agent will be deemed to have confirmed that such conditions are satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Permitted Lien</U>&quot; means any
of the following: (a) Liens for Taxes if such Taxes shall not at the time be due and payable or if a Person shall currently be
contesting the validity thereof in good faith by appropriate proceedings and with respect to which reserves in accordance with
GAAP have been provided on the books of such Person, (b) Liens imposed by law, such as materialmen's, warehousemen's, mechanics',
carriers', workmen's and repairmen's Liens and other similar Liens, arising by operation of law in the ordinary course of business
for sums that are not overdue or are being contested in good faith, (c) with respect to any collateral underlying a Portfolio Investment,
the Lien in favor of the Company and Liens permitted under the related underlying instruments, (d) as to agented Portfolio Investments,
Liens in favor of the agent on behalf of all the lenders of the related obligor, and (e) Liens granted pursuant to or by the Loan
Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Permitted PM Successor</U>&quot;
means an Affiliate of the Portfolio Manager that (i) utilizes principal personnel performing the duties required under the Loan
Documents who are substantially the same individuals who would have performed the duties required under the Loan Documents had
the assignment not occurred, (ii) has an ability to professionally and competently perform duties similar to those imposed on the
Portfolio Manager under the Loan Documents and (iii) is legally qualified to act as Portfolio Manager and whose appointment as
Portfolio Manager will not cause the Borrower to violate Applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Permitted Sub-Adviser Successor</U>&quot;
means an Affiliate of the Sub-Adviser that (i) utilizes principal personnel performing the duties required under the investment
sub-advisory agreement between the Parent and the Sub-Adviser who are substantially the same individuals who would have performed
the duties required under the investment sub-advisory agreement between the Parent and the Sub-Adviser had the assignment not occurred,
(ii) has an ability to professionally and competently perform duties similar to those imposed on the Sub-Adviser under the investment
sub-advisory agreement between the Parent and the Sub-Adviser and (iii) is legally qualified to act as Sub-Adviser and whose appointment
as Sub-Adviser will not cause the Borrower to violate Applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Permitted Tax Distribution</U>&quot;
means distributions to the Parent (from the Accounts or otherwise) to the extent required to allow the Parent to make sufficient
distributions to qualify as a regulated investment company, and to otherwise eliminate federal or state income or excise taxes
payable by the Parent in or with respect to any taxable year of the Parent (or any calendar year, as relevant); <I>provided</I>
that (A) the amount of any such payments made in or with respect to any such taxable year (or calendar year, as relevant) of the
Parent shall not exceed 115% of the amounts that the Company would have been required to distribute to the Parent to: (i) allow
the Company to satisfy the minimum distribution requirements that would be imposed by Section 852(a) of the Code (or any successor
thereto) to maintain its eligibility to be taxed as a regulated investment company for any such taxable year, (ii) reduce to zero
for any such taxable year the Company's liability for federal income taxes imposed on (x) its investment company taxable income
pursuant to Section 852(b)(1) of the Code (or any successor thereto), or (y) its net capital gain pursuant to Section 852(b)(3)
of the Code (or any successor thereto), and (iii) reduce to zero the Company's liability for federal excise taxes for any such
calendar year imposed pursuant to Section 4982 of the Code (or any successor thereto), in the case of each of (i), (ii) or (iii),
calculated assuming that the Company had qualified to be taxed as a regulated investment company under the Code and (B) amounts
may be distributed pursuant to this definition only from Excess Interest Proceeds and so long as (i) the Borrowing Base Test is
satisfied, (ii) the Company gives at least two (2) Business Days prior notice thereof to the Administrative Agent, the Collateral
Agent and the Collateral Administrator, (iii) if any such Permitted Tax Distributions are made after the occurrence and during
the continuance of an Event of Default, the amount of Permitted Tax Distributions made in any 90 calendar day period shall not
exceed U.S.$1,500,000 and (iv) the Administrative Agent confirms in writing (which may be by email) to the Collateral Agent and
the Collateral Administrator that the conditions to a Permitted Tax Distribution set forth herein are satisfied; <I>provided</I>
that, if the Administrative Agent does not notify the Collateral Agent and the Collateral Administrator in writing (which may be
by email) that it does or does not confirm that such conditions are satisfied within two (2) Business Days following delivery of
written notice (which may be by email) of a proposed Permitted Tax Distribution requesting such confirmation and addressed to each
of the employees of the Administrative Agent identified on Schedule 2 hereto (as modified by the Administrative Agent from time
to time in writing), the Administrative Agent will be deemed to have confirmed that such conditions are satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Person</U>&quot; means any natural
person, corporation, partnership, trust, limited liability company, association, Governmental Authority or unit, or any other entity,
whether acting in an individual, fiduciary or other capacity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Plan</U>&quot; means any &quot;employee
benefit plan&quot; (as such term is defined in Section 3(3) of ERISA) subject to Section 412 of the Code or Title IV of ERISA established
by the Company, the Parent or any ERISA Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Plan Asset Rules</U>&quot; means
the regulations issued by the United States Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29 of
the United States Code of Federal Regulations, as modified by Section 3(42) of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Portfolio</U>&quot; means all Portfolio
Investments Purchased hereunder and not otherwise sold or liquidated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Possessory Collateral</U>&quot; has
the meaning set forth in Section 8.02(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Prime Rate</U>&quot; means the rate
of interest <I>per annum</I> publicly announced from time to time by JPMCB as its prime rate in effect at its principal office
in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced
as being effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Principal Proceeds</U>&quot; means
(i) all amounts received with respect to the Portfolio Investments or any other Collateral, and all amounts otherwise on deposit
in the Accounts (including cash contributed to or deposited by the Company and Advances made pursuant to Section 2.03(e)), in each
case other than Interest Proceeds or amounts (or Eligible Investments) in the Unfunded Exposure Account (or any proceeds therefrom)
and (ii) all amounts received pursuant to the Performance Guarantee; <I>provided</I> that amounts received pursuant to the Performance
Guarantee shall only be used to repay Advances until all Secured Obligations have been paid in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Priority of Payments</U>&quot; has
the meaning set forth in Section 4.05.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Proceeding</U>&quot; has the meaning
set forth in Section 10.07(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Purchase</U>&quot; means each acquisition
of a Portfolio Investment hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Purchase Commitment</U>&quot; has
the meaning set forth in Section 1.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Ramp-Up Period</U>&quot; means the
period from and including the Effective Date to, but excluding, May 23, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Register</U>&quot; has the meaning
set forth in Section 10.06(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Reinvestment Period</U>&quot; means
the period beginning on, and including, the Effective Date and ending on, but excluding, the earliest of (i) August 23, 2019, (ii)
the date on which a Market Value Event occurs, (iii) the date on which the principal amount of the Advances is irrevocably reduced
to zero as a result of one or more prepayments and the Financing Commitments are irrevocably terminated and (iv) the date on which
an Event of Default occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Related Party</U>&quot; has the meaning
set forth in Section 9.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Repayment Event</U>&quot; means an
event that occurs on any date of determination if (i) during the 12 calendar months preceding such date of determination the Company
has properly delivered at least ten (10) Notices of Acquisition during such period, so long as each such Notice of Acquisition
contains and/or is accompanied by all information required pursuant to Section 1.02(b) and would otherwise have satisfied all conditions
set forth in this Agreement and (ii) the Administrative Agent has not approved at least 50% of the Notices of Acquisition properly
made during the 12 calendar months preceding such date of determination and which contain and/or are accompanied by such information
specified in clause (i) and would otherwise have satisfied all conditions set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Required Lenders</U>&quot; means
Lenders with respect to 50.1% or more of the sum of (i) the aggregate principal amount of the outstanding Advances <I>plus</I>
(ii) the aggregate undrawn amount of the outstanding Financing Commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Responsible Officer</U>&quot; means
with respect to the Collateral Agent or the Collateral Administrator or the Securities Intermediary, any officer of the Collateral
Agent customarily performing functions with respect to corporate trust matters and, with respect to a particular corporate trust
matter under this Agreement, any other officer to whom such matter is referred because of such officer's knowledge of and familiarity
with the particular subject in each case, having direct responsibility for the administration of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Restricted Payment</U>&quot; means
(i)&nbsp;any dividend or other distribution (including, without limitation, a distribution of non-cash assets), direct or indirect,
on account of any shares or other equity interests in the Company now or hereafter outstanding; (ii)&nbsp;any redemption, retirement,
sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, by the Company of any shares or other
equity interests in the Company now or hereafter outstanding; and (iii)&nbsp;any payment made to retire, or to obtain the surrender
of, any outstanding warrants, options or other rights to acquire shares or other equity interests in the Company now or hereafter
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Reuters Screen</U>&quot; means Reuters
Screen LIBOR 01 Page on the Bloomberg Financial Markets Commodities News (or on any successor or substitute page of such service,
or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page
of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates
applicable to U.S. dollar deposits in the London interbank market).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Revolving Loan</U>&quot; means any
Loan (other than a Delayed Funding Term Loan, but including funded and unfunded portions of revolving credit lines not backed by
cash and letter of credit facilities, unfunded commitments under specific facilities and other similar loans and investments) that
under the underlying instruments relating thereto may require one or more future advances to be made to the obligor by a creditor,
but any such Loan will be a Revolving Loan only until all commitments by the holders thereof to make advances to the obligor thereon
expire or are terminated or are irrevocably reduced to zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Sanctioned Country</U>&quot; means,
at any time, a country, region or territory which is itself the subject or target of any Sanctions (at the time of this Agreement,
Cuba, Iran, North Korea, Sudan, Syria and Crimea).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Sanctioned Person</U>&quot; means,
at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets
Control of the U.S. Department of the Treasury or the U.S. Department of State, or by the United Nations Security Council, the
European Union or any EU member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person
owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Sanctions</U>&quot; means economic
or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including
those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State,
or (b) the United Nations Security Council, the European Union or Her Majesty's Treasury of the United Kingdom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Second Lien Loan</U>&quot; means
a Loan (i) that is secured by a pledge of collateral, which security interest is validly perfected and second priority (subject
to liens for Senior Secured Loans and liens for Taxes or regulatory charges and any other liens permitted under the related underlying
instruments that are reasonable and customary for similar loans) under Applicable Law and (ii) the Portfolio Manager determines
in good faith that the value of the collateral securing the Loan (including based on enterprise value) on or about the time of
origination or acquisition by the Company equals or exceeds the outstanding principal balance thereof plus the aggregate outstanding
balances of all other loans of equal or higher seniority secured by the same collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Secured Party</U>&quot; has the meaning
set forth in Section 8.02(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Secured Obligation</U>&quot; has
the meaning set forth in Section 8.02(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Senior Secured Loan</U>&quot; means
any interest in a Loan, including any assignment of or participation in or other interest in a Loan, that (i) is not (and is not
expressly permitted by its terms to become) subordinate in right of payment to any obligation of the obligor in any bankruptcy,
reorganization, arrangement, insolvency, moratorium or liquidation proceedings (other than pursuant to a Permitted Working Capital
Lien and customary waterfall provisions contained in the applicable loan agreement), (ii) is secured by a pledge of collateral,
which security interest is (a) validly perfected and first priority under Applicable Law (subject to liens permitted under the
applicable credit agreement that are reasonable for similar loans, and liens accorded priority by law in favor of any Governmental
Authority) or (b)(1) validly perfected and second priority in the accounts, documents, instruments, chattel paper, letter-of-credit
rights, supporting obligations, deposit accounts, investments accounts and any other assets securing any Working Capital Revolver
under applicable law and proceeds of any of the foregoing (a first priority lien on such assets a &quot;<U>Permitted Working Capital
Lien</U>&quot;) and (2) validly perfected and first priority (subject to liens for Taxes or regulatory charges and any other liens
permitted under the related underlying instruments that are reasonable and customary for similar loans) in all other collateral
under Applicable Law, and (iii) the Portfolio Manager determines in good faith that the value of the collateral for such loan (including
based on enterprise value) on or about the time of acquisition equals or exceeds the outstanding principal balance of the loan
plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by a first priority Lien over the
same collateral. For the avoidance of doubt, debtor-in-possession loans shall constitute Senior Secured Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Settlement Date</U>&quot; has the
meaning set forth in Section 1.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Solvent</U>&quot; means, with respect
to any entity, that as of the date of determination, (a) the sum of such entity's debt (including contingent liabilities) does
not exceed the present fair value of such entity's present assets; (b) such entity's capital is not unreasonably small in relation
to its business as contemplated on the date of this Agreement; and (c) such entity has not incurred debts beyond its ability to
pay such debts as they become due (whether at maturity or otherwise). For purposes of this definition, the amount of any contingent
liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time,
represents the amount that can reasonably be expected to become an actual or matured liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Subsidiary</U>&quot; of a Person
means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the
shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned,
or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such
Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Taxes</U>&quot; means all present
or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges
imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Trade Date</U>&quot; has the meaning
set forth in Section 1.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>UCC</U>&quot; has the meaning set
forth in Section 8.01(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Unfunded Exposure Account</U>&quot;
has the meaning set forth in Section 8.01(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Unfunded Exposure Amount</U>&quot;
means, on any date of determination, with respect to any Delayed Funding Term Loan, an amount equal to the aggregate amount of
the unfunded commitments of the Company under such Delayed Funding Term Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Unfunded Exposure Shortfall</U>&quot;
means, on any date of determination following the last day of the Reinvestment Period, an amount equal to the greater of (x) 0
and (y) the Unfunded Exposure Amount <I>minus</I> the amounts on deposit in the Unfunded Exposure Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>U.S. Person</U>&quot; means any Person
that is a &quot;United States Person&quot; as defined in Section 7701(a)(30) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>U.S. Tax Compliance Certificate</U>&quot;
has the meaning set forth in Section 3.03(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Withholding Agent</U>&quot; means
the Company (or, to the extent the Company is a disregarded entity, its regarded owner) and the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Working Capital Revolver</U>&quot;
means a revolving lending facility secured by all or a portion of the current assets of the related obligor, which current assets
subject to such security interest do not constitute a material portion of the obligor's total assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE I<BR>
THE PORTFOLIO INVESTMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 1.01. <U>Purchases of Portfolio
Investments</U>. On the Effective Date, the Company may acquire the Initial Portfolio Investments from the Parent pursuant to the
Sale Agreement or the Master Participation Agreement, as applicable, subject to the conditions specified in this Agreement. From
time to time during the Reinvestment Period, the Company may Purchase additional Portfolio Investments, or request that Portfolio
Investments be Purchased for the Company's account, all on and subject to the terms and conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.3pt; text-indent: -112.3pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.3pt; text-indent: -112.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 1.02. <U>Procedures
for Purchases and Related Advances.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Timing
of Notices of Acquisition</U>. No later than three (3) Agent Business Days (or such shorter period as the Administrative Agent
may agree in its sole discretion) before the date on which the Company proposes that a binding commitment to acquire any Portfolio
Investment (other than an Initial Portfolio Investment) be made by it or for its account (a &quot;<U>Purchase Commitment</U>&quot;),
the Portfolio Manager, on behalf of the Company, shall deliver to the Administrative Agent a notice of acquisition (a &quot;<U>Notice
of Acquisition</U>&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contents
of Notices of Acquisition</U>. Each Notice of Acquisition shall consist of one or more electronic submissions to the Administrative
Agent (in such format and transmitted in such a manner as the Administrative Agent, the Portfolio Manager and the Company may reasonably
agree (which shall initially be the format and include the information regarding such Portfolio Investment identified on Schedule&nbsp;2)),
and shall be accompanied by such other information as the Administrative Agent may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Eligibility
of Portfolio Investments</U>. The Administrative Agent shall have the right, on behalf of all Lenders, to reasonably request additional
information regarding any proposed Portfolio Investment. The Administrative Agent shall notify the Portfolio Manager and the Company
(including via e-mail or other customary electronic messaging system) of its approval or failure to approve each Portfolio Investment
proposed to be acquired pursuant to a Notice of Acquisition (and, if approved, an initial determination of the Market Value for
such Portfolio Investment) no later than the fifth (5<SUP>th</SUP>) Agent Business Day succeeding the date on which it receives
such Notice of Acquisition and any information reasonably requested in connection therewith); <I>provided</I> that any Initial
Portfolio Investment shall be deemed to be approved by the Administrative Agent. Any Portfolio Investment so approved shall be
deemed to remain approved for a period of ten (10) Business Days. Notwithstanding anything to the contrary in this Section 1.02
or Section 1.03, the Company may acquire any Portfolio Investment, from time to time, pursuant to the Sale Agreement or, subject
to the conditions set forth in Section 1.03 otherwise, without the prior approval of the Administrative Agent; <I>provided,</I>
that any Portfolio Investment not so approved prior to its date of acquisition shall be deemed to be an Ineligible Investment until
such later date (if any) on which such Portfolio Investment is so approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 1.03. <U>Conditions to Purchases</U>.
No Purchase Commitment or Purchase shall be entered into unless each of the following conditions is satisfied (or waived as provided
below) as of the date on which such Purchase Commitment is entered into (such Portfolio Investment's &quot;<U>Trade Date</U>&quot;)
(and such Portfolio Investment shall not be Purchased, and any related Advance shall not be required to be made available to the
Company by the Lenders, unless each of the following conditions is satisfied or waived as of such Trade Date):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
information contained in the Notice of Acquisition accurately describes, in all material respects, such Portfolio Investment and,
unless waived by the Administrative Agent, such Portfolio Investment satisfies the eligibility criteria set forth in Schedule 3
(the &quot;<U>Eligibility Criteria</U>&quot;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;with
respect to a Purchase, the proposed Settlement Date for such Portfolio Investment is not later than (i) in the case of a Loan,
the date that is fifteen (15) Business Days after such Trade Date or (ii) in the case of any other Portfolio Investment, the date
that is four (4) Business Days after such Trade Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Market Value Event has occurred and no Event of Default or event that, with notice or lapse of time or both, would constitute an
Event of Default (a &quot;<U>Default</U>&quot;), in each case, has occurred and is continuing, and the Reinvestment Period has
not otherwise ended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;with
respect to any Purchase of a Portfolio Investment in connection with which an Affiliate of the Company acts as administrative agent
or in a similar capacity, the Administrative Agent shall have received evidence that an assignment and assumption agreement and/or
similar document required for the assignment and transfer of such Portfolio Investment has been signed by such Affiliate of the
Company in blank; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;after
giving pro forma effect to the Purchase of such Portfolio Investment and the related Advance (if any) or any other Advance requested
or outstanding hereunder and any repayment of Advances, each as contemplated on or prior to the Settlement Date for such Purchase:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Borrowing Base Test is satisfied;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Concentration Limitations (as defined on Schedule 4) shall be satisfied;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
aggregate principal balance of Advances then outstanding will not exceed the limit for Advances set forth in the Transaction Schedule;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a Purchase, the amount of such Advance (if any) shall be not less than U.S.$2,000,000; <I>provided</I> that the initial
Advance shall be not less than U.S.$57,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Administrative Agent, on behalf of the
Lenders, may waive any conditions to a Purchase Commitment or Purchase, as the case may be, specified above in this Section 1.03
by written notice thereof to the Company, the Collateral Administrator, the Portfolio Manager and the Collateral Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If the above conditions to a Purchase are
satisfied or waived, the Portfolio Manager shall determine, in consultation with the Administrative Agent and with notice to the
Lenders and the Collateral Administrator, the date on which such Purchase shall settle (the &quot;<U>Settlement Date</U>&quot;
for such Portfolio Investment) and any related Advance shall be provided, subject to Section 2.03. The Lenders shall not be relieved
of their obligation to provide Advances in respect of any Portfolio Investment for which the conditions to purchase set forth in
this Section 1.03 have been satisfied (or waived) as of the Trade Date therefor solely due to any failure of such Portfolio Investment
to settle on the Settlement Date proposed therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 1.04. <U>Sales of Portfolio Investments</U>.
The Company will not sell, transfer or otherwise dispose of any Portfolio Investment or any other asset without the prior consent
of the Administrative Agent (acting at the direction of the Required Lenders), except that, subject to Section 6.02(w), the Company
may sell any Portfolio Investment (including any Ineligible Investment) or other asset without prior notice to or consent from
the Administrative Agent so long as, (x) after giving effect thereto, no Market Value Event has occurred and no Default or Event
of Default has occurred and is continuing and (y) the sale of such asset by the Company shall be on an arm's-length basis at fair
market value and in accordance with the Portfolio Manager's standard market practices. In addition, within ten (10) Business Days
of any Delayed Funding Term Loan with an unfunded commitment becoming an Ineligible Investment, the Company shall either (a) subject
to clauses (x) and (y) in the immediately preceding sentence, sell such Delayed Funding Term Loan and shall pay to the purchaser
any amount payable in connection with such sale or (b) transfer such Delayed Funding Term Loan to the Seller and shall pay to the
Seller any amount payable in connection with such transfer (i.e. the negative Market Value of such Delayed Funding Term Loan) and
obtain from the Seller any positive Market Value of such Delayed Funding Term Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Notwithstanding anything in this Agreement
to the contrary (but subject to this Section 1.04): (i) following the occurrence and during the continuance of an Event of Default,
neither the Company nor the Portfolio Manager on its behalf shall have any right to cause the sale, transfer or other disposition
of a Portfolio Investment or any other asset (including, without limitation, the transfer of amounts on deposit in the Accounts)
without the prior written consent of the Administrative Agent (which consent may be granted or withheld in the sole discretion
of the Administrative Agent), (ii) following the occurrence of a Market Value Event, the Company shall use commercially reasonable
efforts to sell Portfolio Investments (individually or in lots, including a lot comprised of all of the Portfolio Investments)
at the sole direction of, and in the manner (including, without limitation, the time of sale, sale price, principal amount to be
sold and purchaser) required by the Administrative Agent (<I>provided</I> that the Administrative Agent shall only require sales
at the direction of the Required Lenders and at then-current fair market values and in accordance with the Administrative Agent's
standard market practices) and the proceeds from such sales shall be used to prepay the Advances outstanding hereunder and (iii)
following the occurrence of a Market Value Event, the Portfolio Manager shall have no right to act on behalf of, or otherwise direct,
the Company, the Administrative Agent, the Collateral Agent or any other Person in connection with a sale of Portfolio Investments
pursuant to any provision of this Agreement or the Portfolio Management Agreement except with the prior written consent of the
Administrative Agent (which may be by email). Any prepayments made pursuant to this paragraph shall automatically reduce the Financing
Commitments as provided in Section 4.07(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">In connection with any sale of Portfolio Investments
required by the Administrative Agent following the occurrence of a Market Value Event pursuant to clause (ii) of the immediately
preceding paragraph, the Administrative Agent or a designee of the Administrative Agent shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;notify
the Company at the Designated Email Notification Address of its intention to distribute bid solicitations regarding the sale of
such Portfolio Investments and promptly upon distribution of bid solicitations regarding the sale of such Portfolio Investments;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;direct
the Company to sell such Portfolio Investments to the Designated Independent Broker-Dealer if the Designated Independent Broker-Dealer
provides the highest bid in the case where bids are received in respect of the sale of such Portfolio Investments, it being understood
that if the Designated Independent Broker-Dealer provides a bid to the Administrative Agent that is the highest bona fide bid to
purchase a Portfolio Investment on a line-item basis where such Portfolio Investment is part of a pool of Portfolio Investments
for which there is a bona fide bid on a pool basis proposed to be accepted by the Administrative Agent (in its sole discretion),
then the Administrative Agent shall accept any such line-item bid only if such line-item bid (together with any other line-item
bids by the Designated Independent Broker-Dealer or any other bidder for other Portfolio Investments in such pool) is greater than
the bid on a pool basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">For purposes of this paragraph, the Administrative
Agent shall be entitled to disregard as invalid any bid submitted by the Designated Independent Broker-Dealer if, in the Administrative
Agent's judgment (acting reasonably):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Designated Independent Broker-Dealer is ineligible to accept assignment or transfer of the relevant Portfolio Investments or any
portion thereof, as applicable, substantially in accordance with the then-current market practice in the principal market for the
relevant Portfolio Investments; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Designated Independent Broker-Dealer would not, through the exercise of its commercially reasonable efforts, be able to obtain
any consent required under any agreement or instrument governing or otherwise relating to the relevant Portfolio Investments to
the assignment or transfer of the relevant Portfolio Investments or any portion thereof, as applicable, to it; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
bid is not bona fide, including, without limitation, due to (x) the insolvency of the Designated Independent Broker-Dealer or (y)
the inability, failure or refusal of the Designated Independent Broker-Dealer to settle the purchase of the relevant Portfolio
Investments or any portion thereof, as applicable, or otherwise settle transactions in the relevant market or perform its obligations
generally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">For the avoidance of doubt, the bid(s) provided
by the Designated Independent Broker-Dealer may be provided on behalf of the Company, the Portfolio Manager, any Affiliate of the
Portfolio Manager or any account or fund managed by the Portfolio or an Affiliate of the Portfolio Manager if so agreed between
the Designated Independent Broker-Dealer and any such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">In connection with any sale of a Portfolio
Investment directed by the Administrative Agent pursuant to this Section 1.04 and the application of the net proceeds thereof,
the Company hereby appoints the Administrative Agent as the Company's attorney-in-fact (it being understood that the Administrative
Agent shall not be deemed to have assumed any of the obligations of the Company by this appointment), with full authority in the
place and stead of the Company and in the name of the Company to effectuate the provisions of this Section 1.04 (including, without
limitation, the power to execute any instrument which the Administrative Agent or the Required Lenders may deem necessary or advisable
to accomplish the purposes of this Section 1.04 or any direction or notice to the Collateral Agent in respect to the application
of net proceeds of any such sales). None of the Administrative Agent, the Lenders, the Collateral Administrator, the Securities
Intermediary, the Collateral Agent nor any Affiliate of any thereof shall incur any liability to the Company, the Portfolio Manager
or any other Person in connection with any sale effected at the direction of the Administrative Agent in accordance with this Section
1.04, including, without limitation, as a result of the price obtained for any Portfolio Investment, the timing of any sale or
sales of Portfolio Investments or the notice or lack of notice provided to any Person in connection with any such sale, so long
as, in the case of the Administrative Agent only, any such sale does not violate applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 1.05. <U>Certain
Assumptions relating to Portfolio Investments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">For purposes of all calculations hereunder,
any Portfolio Investment for which the trade date in respect of a sale thereof by the Company has occurred, but the settlement
date for such sale has not occurred, shall be considered to be owned by the Company until such settlement date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 1.06. <U>Deposits
and Contributions by Parent.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notwithstanding any other provision of this Agreement, the Parent
may, from time to time in its sole discretion (x) make contributions of cash to the capital of the Company for deposit in any Account
or (y) make contributions of Portfolio Investments to the Company subject, in each case, to any limitations set forth in the Sale
Agreement or under the &quot;facts and assumptions&quot; section of the opinion of counsel relating to certain bankruptcy matters
provided by the Company to the Administrative Agent on the Effective Date. All such amounts contributed will be included as cash
or Portfolio Investments of the Company as provided hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE II<BR>
THE FINANCINGS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 2.01. <U>Financing Commitments</U>.
Subject to the terms and conditions set forth herein, only during the Reinvestment Period, each Lender hereby severally agrees
to make available to the Company Advances, in U.S. dollars, in an aggregate amount not exceeding such Lender's Financing Commitment
in accordance with the Transaction Schedule. The Financing Commitments shall terminate on the earliest of (a) the close of business
on the last day of the Reinvestment Period, (b) the Maturity Date and (c) the occurrence of a Market Value Event (or, if earlier,
the date of termination of the Financing Commitments pursuant to Article VII).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 2.02. <U>First Advance; Additional
Advances</U><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the satisfaction or waiver of the conditions set forth in Sections 2.03 and 2.04, each Lender as of the Effective Date agrees,
severally and not jointly, to make or cause to be made on the Effective Date, an advance in an aggregate principal amount equal
to $57,000,000 subject to the conditions set forth in this Agreement (the &quot;<U>First Advance</U>&quot;). Each Lender shall
make its portion of the First Advance available to the Company no later than 3:00 p.m. (New York City time) on the Effective Date
in accordance with the terms set forth in Section 3.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
any Business Day during the term of the Reinvestment Period, subject to the conditions set forth in this Agreement, the Company
may request, and the Lenders shall provide, additional Advances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 2.03. <U>Advances;
Use of Proceeds</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the satisfaction or waiver of the conditions to the Purchase of a Portfolio Investment set forth in Section 1.03 as of the related
Trade Date and, with respect to Sections 1.03(3) and (5), on the Settlement Date, the Lenders will make Advances available to the
Company on the related Settlement Date (or otherwise on the related specified borrowing date if no Portfolio Investment is being
acquired on such date) as provided herein. In the event that, on the Effective Date, the Company has acquired any Portfolio Investments
under the Sale Agreement that will not settle on the Effective Date, each Lender shall deposit its pro rata share of the portion
of the First Advance that will be used to pay the cash purchase price of each such Portfolio Investment in the Collection Account
as described above and, upon such deposit, such amounts so deposited will constitute Advances hereunder; <I>provided</I> that such
amounts may not be transferred from the Collection Account except to pay such cash purchase price on each related Settlement Date
upon satisfaction of the conditions set forth in this Section 2.03(a) (and will be repaid to the Lenders if any such settlement
does not occur as and to the extent set forth in this Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as expressly provided herein, the failure of any Lender to make any Advance required hereunder shall not relieve any other Lender
of its obligations hereunder. If any Lender shall fail to provide any Advance to the Company required hereunder, then the Administrative
Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative
Agent for the account of such Lender to satisfy such Lender's obligations hereunder until all such unsatisfied obligations are
fully paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to Section 2.03(e), the Company shall use the proceeds of the Advances received by it hereunder to purchase the Portfolio Investments
identified in the related Notice of Acquisition or to make advances to the obligor of Delayed Funding Term Loans in accordance
with the underlying instruments relating thereto, <I>provided</I> that, if the proceeds of an Advance are deposited in the Collection
Account as provided in Section 2.03(e) or Section 3.01 prior to or on the Settlement Date for any Portfolio Investment but the
Company is unable to Purchase such Portfolio Investment on the related Settlement Date, or if there are proceeds of such Advance
remaining after such Purchase or after deposit pursuant to Section 2.03(e), then, upon written notice from the Portfolio Manager
the Collateral Agent shall apply such proceeds (x) to purchase Portfolio Investments (including to fund unfunded Delayed Funding
Term Loans) prior to the next date on which funds must be applied pursuant to Section 4.05 or (y) as provided in Section 4.05.
The proceeds of the Advances shall not be used for any other purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any Advance, the Portfolio Manager shall, on behalf of the Company, submit a request substantially in the form of Exhibit
A to the Lenders and the Administrative Agent, with a copy to the Collateral Agent and the Collateral Administrator, not later
than 2:00 p.m. New York City time, one (1) Business Day prior to the Business Day specified as the date on which such Advance shall
be made and, upon receipt of such request, the Lenders shall make such Advances in accordance with the terms set forth in Section
3.01. Any requested Advance shall be in an amount such that, after giving effect thereto and the related purchase (if any) of the
applicable Portfolio Investment(s), the Borrowing Base Test is satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the aggregate principal amount of the outstanding Advances is less than the Minimum Funding Amount on any period start date specified
in the definition of the term Minimum Funding Amount, then the Portfolio Manager (on behalf of the Company) shall be deemed to
have requested an Advance on each such period start date such that, after the funding thereof, the aggregate principal amount of
the outstanding Advances is equal to the Minimum Funding Amount for such period start date. Unless an Event of Default shall have
occurred and is continuing or a Market Value Event shall have occurred as of such period start date, the Lenders shall make a corresponding
Advance in accordance with Article III on each such period start date (or, if either such date is not a Business Day, the next
succeeding Business Day) (with written notice to the Collateral Agent and Collateral Administrator by the Administrative Agent),
such that after the funding thereof, the aggregate principal amount of the outstanding Advances is equal to the Minimum Funding
Amount for such period start date. Advances funded pursuant to this Section 2.03(e) shall be deposited into the Collection Account
and shall be available to be applied, as directed by the Portfolio Manager on behalf of the Company, as provided herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
on any Business Day up to and including the second Business Day prior to the end of the Reinvestment Period, the Company has any
outstanding unfunded obligations to make future advances under any Delayed Funding Term Loan, then the Portfolio Manager, on behalf
of the Company, may request (and, to the extent the Company has any outstanding unfunded obligations to make future advances under
any Delayed Funding Term Loan on the second Business Day prior to the end of the Reinvestment Period, the Company shall be deemed
to have requested an Advance on such date), and the Lenders shall, subject to the satisfaction of Sections 1.03(3) and (5) on the
date of such request and the date of such Advance, make a corresponding Advance on the second Business Day following such request
(with written notice to the Collateral Agent and the Collateral Administrator by the Administrative Agent) in accordance with Article
III in amount equal to the least of (i) the aggregate amount of all such unfunded obligations, (ii) the Financing Commitments in
excess of the aggregate principal amount of the outstanding Advances and (iii) an amount such that the Borrowing Base Test is satisfied
after giving effect to such Advance; <I>provided</I> that with respect to any deemed request for an Advance on the second Business
Day prior to the end of the Reinvestment Period, if the Company provides evidence to the Administrative Agent that it has cash
from other sources that is available in accordance with the terms of this Agreement to make any such future advances in respect
of any Delayed Funding Term Loan, then the amount of any such Advance shall be reduced by the amount of such funds. After giving
effect to any Advance under this Section 2.03(f), the Company shall cause the proceeds of such Advance and cash from other sources
that is available in accordance with the terms of this Agreement in an amount equal to the aggregate amount of all unfunded obligations
remaining in respect of any Delayed Funding Term Loans to be deposited in the Unfunded Exposure Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limitation to clause (f) above, the Company shall not acquire any unfunded commitment under any Delayed Funding Term Loan unless,
on a pro forma basis after giving effect to such purchase, the Borrowing Base Test and item 5 of the Concentration Limitations
will each be satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 2.04. <U>Other Conditions to
Advances</U>. Notwithstanding anything to the contrary herein, the obligations of the Lenders to make Advances shall not become
effective until the date (the &quot;<U>Effective Date</U>&quot;) on which each of the following conditions is satisfied (or waived
by the Administrative Agent in its sole discretion):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Executed
Counterparts</U>. The Administrative Agent (or its counsel) shall have received from each party hereto either (i)&nbsp;a counterpart
of this Agreement signed on behalf of such party or (ii)&nbsp;written evidence reasonably satisfactory to the Administrative Agent
(which may include electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Loan
Documents</U>. The Administrative Agent (or its counsel) shall have received reasonably satisfactory evidence that the Loan Documents
have been executed and are in full force and effect, and that the initial sales and contributions contemplated by the Sale Agreement
and the Master Participation Agreement shall have been consummated in accordance with the terms thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Opinions</U>.
The Administrative Agent (or its counsel) shall have received one or more reasonably satisfactory written opinions of counsel for
the Company and the Parent, covering such matters relating to the transactions contemplated hereby and by the other Loan Documents
as the Administrative Agent shall reasonably request (including, without limitation, certain bankruptcy matters) in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate
Documents</U>. The Administrative Agent (or its counsel) shall have received such certificates of resolutions or other action,
incumbency certificates and/or other certificates of officers of the Company, the Parent and the Portfolio Manager as the Administrative
Agent may reasonably require evidencing the identity, authority and capacity of each officer thereof or other Person authorized
to act in connection with this Agreement and the other Loan Documents, and such other documents and certificates as the Administrative
Agent or its counsel may reasonably request relating to the organization, existence and good standing of the Company, the Parent
and the Portfolio Manager and any other legal matters relating to the Company, the Parent, the Portfolio Manager, this Agreement
or the transactions contemplated hereby, all in form and substance satisfactory to the Administrative Agent and its counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Fees, Etc</U>. The Administrative Agent, the Lenders, the Collateral Agent, the Collateral Administrator and the Securities
Intermediary shall have received all fees and other amounts due and payable by the Company in connection herewith on or prior to
the Effective Date, including the fee payable pursuant to Section 4.03(e) and, to the extent invoiced at least two (2) Business
Days prior to the Effective Date, reimbursement or payment of all reasonable and documented out-of-pocket expenses (including legal
fees and expenses; <I>provided</I> that the amount of such legal fees and expenses, the payment of which is required by this Section
2.04(e), shall not exceed $250,000 and any such fees and expenses in excess of $250,000 shall not be payable by the Company, the
Portfolio Manager or any of their respective affiliates) required to be reimbursed or paid by the Company hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Patriot
Act, Etc.</U> To the extent requested by the Administrative Agent or any Lender, the Administrative Agent or such Lender, as the
case may be, shall have received all documentation and other information required by regulatory authorities under the USA&nbsp;PATRIOT
Act (Title&nbsp;III of Pub.&nbsp;L. 107-56 (signed into law October 26,&nbsp;2001)) (the &quot;<U>PATRIOT Act</U>&quot;) and other
applicable &quot;know your customer&quot; and anti-money laundering rules and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Filings</U>.
Copies of proper financing statements, as may be necessary or, in the opinion of the Administrative Agent, desirable under the
UCC of all appropriate jurisdictions or any comparable law to perfect the security interest of the Collateral Agent on behalf of
the Secured Parties in all Collateral in which an interest may be pledged hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Acknowledgements</U>. The Administrative Agent shall have received (i) UCC searches indicating that there are no effective lien
notices or comparable documents that name the Company as debtor and that are filed in the jurisdiction in which the Company is
organized, (ii) a UCC lien search indicating that there are no effective lien notices or comparable documents that name the Parent
as debtor which cover any of the Portfolio Investments and (iii) such other searches that the Administrative Agent deems necessary
or appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Documents</U>. Such other documents as the Administrative Agent may reasonably require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE III<BR>
<U>ADDITIONAL TERMS APPLICABLE TO THE FINANCINGS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 3.01. <U>The Advances.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Making
the Advances</U>. If the Lenders are required to make an Advance to the Company as provided in Section 2.03, then each Lender shall
make such Advance on the proposed date thereof by wire transfer of immediately available funds to the Collateral Agent for deposit
to the Collection Account. Each Lender at its option may make any Advance by causing any domestic or foreign branch or Affiliate
of such Lender to make such Advance, <I>provided</I> that any exercise of such option shall not affect the obligation of the Company
to repay such Advance in accordance with the terms of this Agreement. Subject to the terms and conditions set forth herein, the
Company may, during the Reinvestment Period, borrow and prepay Advances. Once drawn, Advances may not be reborrowed except to the
extent set forth in Paragraph 1 of the Transaction Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Interest
on the Advances</U>. The outstanding principal amount of each Advance shall bear interest (from and including the date on which
such Advance is made to but excluding the Maturity Date or, if earlier, the date on which such Advance is repaid) at a per annum
rate equal to the LIBO Rate for each Calculation Period in effect <I>plus</I> the Applicable Margin for Advances set forth on the
Transaction Schedule; <I>provided</I> that, following the occurrence and during the continuance of an Event of Default, all outstanding
Advances and any unpaid interest thereon shall bear interest (from and including the date of such Event of Default to but excluding
the Maturity Date or, if earlier, the date on which such Advance is repaid) at a per annum rate equal to the LIBO Rate for each
Calculation Period in effect <I>plus </I>the Adjusted Applicable Margin.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence
of the Advances</U>. Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness
of the Company to such Lender resulting from each Advance made by such Lender, including the amounts of principal and interest
payable and paid to such Lender from time to time hereunder. The Administrative Agent shall maintain accounts in which it shall
record (1)&nbsp;the amount of each Advance made hereunder, (2)&nbsp;the amount of any principal or interest due and payable or
to become due and payable from the Company to each Lender hereunder and (3)&nbsp;the amount of any sum received by the Administrative
Agent hereunder for the account of the Lenders and each Lender's share thereof. The entries made in the accounts maintained pursuant
to this paragraph&nbsp;(c) shall be <I>prima facie</I> evidence of the existence and amounts of the obligations recorded therein,
<I>provided</I> that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall
not in any manner affect the obligation of the Company to repay the Advances in accordance with the terms of this Agreement; <I>provided
further</I> that in the event of a conflict between the accounts of a Lender and the accounts of the Administrative Agent, the
accounts of the Administrative Agent shall control in the absence of manifest error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Any Lender may request that Advances made
by it be evidenced by a promissory note. In such event, the Company shall prepare, execute and deliver to such Lender a promissory
note payable to the order of such Lender (or, if a registered note is requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed).
Thereafter, the Advances evidenced by such promissory note and interest thereon shall at all times be represented by one or more
promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note,
to such payee and its registered assigns).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Pro
Rata Treatment</U>. Except as otherwise provided herein, all borrowings of, and payments in respect of, the Advances shall be made
on a <I>pro rata</I> basis by or to the Lenders in accordance with their respective portions of the Financing Commitments in respect
of Advances made or held by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Illegality</U>.
Notwithstanding any other provision of this Agreement, if any Lender or the Administrative Agent shall notify the Company that
the adoption of any law, rule or regulation, or any change therein or any change in the interpretation or administration thereof
by any Governmental Authority charged with the interpretation or administration thereof, makes it unlawful, or any Governmental
Authority asserts that it is unlawful, for a Lender or the Administrative Agent to perform its obligations hereunder to fund or
maintain Advances hereunder, then (1) the obligation of such Lender or the Administrative Agent hereunder shall immediately be
suspended until such time as such Lender or the Administrative Agent determines (in its sole discretion) that such performance
is again lawful, (2) at the request of the Company, such Lender or the Administrative Agent, as applicable, shall use reasonable
efforts (which will not require such party to incur a loss, other than immaterial, incidental expenses), until such time as the
Advances are required to be prepaid as required under clause (3) below, to transfer all of its rights and obligations under this
Agreement to another of its offices, branches or Affiliates with respect to which such performance would not be unlawful, and (3)
if such Lender or the Administrative Agent is unable to effect a transfer under clause (2), then any outstanding Advances of such
Lender shall be promptly paid in full by the Company (together with all accrued interest and other amounts owing hereunder) but
not later than the earlier of (x) if the Company requests such Lender or the Administrative Agent to take the actions set forth
in clause (2) above, 20 calendar days after the date on which such Lender the Administrative Agent notifies the Company in writing
that it is unable to transfer its rights and obligations under this Agreement as specified in such clause (2) and (y) such date
as shall be mandated by law; <I>provided </I>that, to the extent that and only for so long as any such adoption or change makes
it unlawful for the Advances to bear interest by reference to the LIBO Rate, then the foregoing clauses (1) through (3) shall not
apply and the Advances shall bear interest (from and after the last day of the Calculation Period ending immediately after such
adoption or change) at a per annum rate equal to the Base Rate <I>plus</I> the Applicable Margin for Advances set forth on the
Transaction Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Increased
Costs</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Change in Law shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(A) impose, modify or deem applicable
any reserve, special deposit, liquidity or similar requirement (including any compulsory loan requirement, insurance charge or
other assessment) against assets of, deposits with or for the account of, or credit extended by, any Lender;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(B) impose on any Lender or the
London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or Advances made by such
Lender; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(C) subject any Lender or the Administrative
Agent to any Taxes (other than (x) Indemnified Taxes, (y) Taxes described in clauses (b) through (d) of the definition of Excluded
Taxes and (z) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its
deposits, reserves, other liabilities or capital attributable thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">and the result of any of the foregoing
shall be to increase the cost to such Lender or the Administrative Agent of making, continuing, converting or maintaining any Advance
or to reduce the amount of any sum received or receivable by such Lender or the Administrative Agent hereunder (whether of principal,
interest or otherwise), then, upon request by such Lender or the Administrative Agent, the Company will pay to such Lender or the
Administrative Agent, as the case may be, such additional amount or amounts as will compensate such Lender or the Administrative
Agent, as the case may be, for such additional costs incurred or reduction suffered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii) If any Lender determines
that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return
on such Lender's capital or on the capital of such Lender's holding company, if any, as a consequence of this Agreement or the
Advances made by such Lender to a level below that which such Lender or such Lender's holding company could have achieved but for
such Change in Law (taking into consideration such Lender's policies and the policies of such Lender's holding company with respect
to capital adequacy and liquidity) by an amount deemed by such Lender to be material (which demand shall be accompanied by a statement
setting forth the basis for such demand), then from time to time the Company will pay to such Lender such additional amount or
amounts as will compensate such Lender or such Lender's holding company for any such reduction suffered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii) A certificate of a Lender
setting forth the amount or amounts necessary to compensate such Lender or its holding company, as the case may be, as specified
in paragraph&nbsp;(i) or (ii)&nbsp;of this Section&nbsp;3.01(f) shall be delivered to the Company and shall be conclusive absent
manifest error. The Company shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Failure
or delay on the part of any Lender to demand compensation pursuant to this Section&nbsp;3.01(f) shall not constitute a waiver of
such Lender's right to demand such compensation; <I>provided</I> that the Company shall not be required to compensate a Lender
pursuant to this Section&nbsp;3.01(f) for any increased costs or reductions incurred more than 180 days prior to the date that
such Lender notifies the Company of the Change in Law giving rise to such increased costs or reductions and of such Lender's intention
to claim compensation therefor; <I>provided</I> <I>further</I> that, if the Change in Law giving rise to such increased costs or
reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender agrees that it will take such commercially reasonable actions as the Company may reasonably request that will avoid the
need to pay, or reduce the amount of, any increased amounts referred to in this Section 3.01(f); <I>provided</I> that no Lender
shall be obligated to take any actions that would, in the reasonable opinion of such Lender, be disadvantageous to such Lender
(including, without limitation, due to a loss of money). In no event will the Company be responsible for increased amounts referred
to in this Section 3.01(f) which relates to any other entities to which any Lender provides financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Lender (A) provides notice of unlawfulness or requests compensation under clause (e) above or this clause (f) or (B) defaults
in its obligation to make Advances hereunder, then the Company may, at its sole expense and effort, upon written notice to such
Lender and the Administrative Agent, (i) prepay the Advances on a pro rata basis in accordance with Section 4.03(c)(i) or (ii)
require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in,
and consents required by, Section 10.06), all of its interests, rights and obligations under this Agreement and the related transaction
documents to an assignee identified by the Company that shall assume such obligations (whereupon such Lender shall be obligated
to so assign), <I>provided</I> that (x) such Lender shall have received payment of an amount equal to the outstanding principal
of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder through the date of such
assignment and (y) a Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a
waiver by such Lender or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to
apply. No prepayment fee that may otherwise be due hereunder shall be payable to a defaulting Lender in connection with any such
prepayment or assignment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Set-off or counterclaim</U>. Subject to Section 3.03, all payments to be made hereunder by the Company in respect of the Advances
shall be made without set-off or counterclaim and in such amounts as may be necessary in order that every such payment (after deduction
or withholding for or on account of any present or future taxes, levies, imposts, duties or other charges of whatever nature imposed
by the jurisdiction in which the Company is organized or any political subdivision or taxing authority therein or thereof) shall
not be less than the amounts otherwise specified to be paid under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 3.02. <U>Sub-Adviser</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the Company or the Portfolio Manager
request in writing that the Administrative Agent consent to an assignment of the obligations of the Sub-Adviser under the investment
sub-advisory agreement between the Parent and the Sub-Adviser to a Person other than a Permitted Sub-Adviser Successor, the Administrative
Agent shall use commercially reasonable efforts to respond to such request within ten (10) Business Days following its receipt
of such request. The Administrative Agent shall have no liability for any failure to respond to any such request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 3.03. <U>Taxes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments
Free of Taxes</U>. All payments to be made hereunder by the Company in respect of the Advances shall be made without deduction
or withholding for any Taxes, except as required by applicable law (including FATCA). If any applicable law (as determined in the
good faith discretion of the Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding
Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full
amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified
Tax, then the sum payable by the applicable Withholding Agent shall be increased as necessary so that after such deduction or withholding
has been made (including such deductions and withholdings applicable to additional sums payable under this Section) the applicable
Lender receives an amount equal to the sum it would have received had no such deduction or withholding been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Other Taxes by the Company</U>. The Company shall timely pay to the relevant Governmental Authority in accordance with applicable
law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
by the Company</U>. The Company shall indemnify each Lender, within 10 days after demand therefor, for the full amount of any Indemnified
Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid
by such Lender or required to be withheld or deducted from a payment to such Lender and any reasonable expenses arising therefrom
or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to the Company by a Lender (with a copy to the
Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest
error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
by the Lenders</U>. Each Lender shall indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified
Taxes attributable to such Lender (but only to the extent that the Company has not already indemnified the Administrative Agent
for such Indemnified Taxes and without limiting the obligation of the Company to do so), (ii) any Taxes attributable to such Lender's
failure to comply with the provisions of 10.06 relating to the maintenance of a Participant Register and (iii) any Excluded Taxes
attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document,
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed
or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any
Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative
Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by
the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph
(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence
of Payments</U>. As soon as practicable after any payment of Taxes by the Company to a Governmental Authority pursuant to this
Section 3.03, the Company shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Status
of Secured Parties</U>. (i) Any Secured Party that is entitled to an exemption from or reduction of withholding Tax with respect
to payments made under any Loan Document shall deliver to the Company and the Administrative Agent, at the time or times reasonably
requested by the Company or the Administrative Agent, such properly completed and executed documentation reasonably requested by
the Company or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.
In addition, any Lender, if reasonably requested by the Company or the Administrative Agent, shall deliver such other documentation
prescribed by applicable law or reasonably requested by the Company or the Administrative Agent as will enable the Company or the
Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.
Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation
(other than such documentation set forth in Section 3.03(f) (ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the
Lender's reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost
or expense or would materially prejudice the legal or commercial position of such Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii) Without limiting the generality of the
foregoing,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(A) any Lender that is a U.S. Person shall
deliver to the Company and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), an executed IRS Form
W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(B) any Foreign Lender shall deliver to the
Company and the Administrative Agent (in such number of copies as shall be reasonably requested by the recipient) on or prior to
the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Company or the Administrative Agent, but only if the Foreign Lender is legally entitled to do so), whichever of
the following is applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(i) in the case of a Foreign Lender
claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under
any Loan Document, an executed IRS Form W-8BEN, IRS Form W-8BEN-E or applicable successor form establishing an exemption from,
or reduction of, U.S. federal withholding Tax pursuant to the &quot;interest&quot; article of such tax treaty and (y) with respect
to any other applicable payments under any Loan Document, an IRS Form W-8BEN or IRS Form W-8BEN-E or any applicable successor form
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the &quot;business profits&quot; or &quot;other
income&quot; article of such tax treaty;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(ii) an executed IRS Form W-8ECI;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(iii) in the case of a Foreign Lender
claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially
in the form of Exhibit C-1 to the effect that such Foreign Lender is not a &quot;bank&quot; within the meaning of Section 881(c)(3)(A)
of the Code, is not a &quot;10 percent shareholder&quot; of the Company within the meaning of Section 881(c)(3)(B) of the Code,
and is not a &quot;controlled foreign corporation&quot; described in Section 881(c)(3)(C) of the Code (a &quot;<U>U.S. Tax Compliance
Certificate</U>&quot;) and (y) an executed IRS Form W-8BEN, IRS Form W-8BEN-E or applicable successor form; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">(iv) to the extent a Foreign Lender
is not the beneficial owner, an executed IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E or
applicable successor form, a U.S. Tax Compliance Certificate substantially in the form of Exhibit C-2 or Exhibit C-3, IRS Form
W-9, and/or other certification documents from each beneficial owner, as applicable; <I>provided</I> that if the Foreign Lender
is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption,
such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit C-4 on behalf of each such
direct and indirect partner;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(C) any Foreign Lender shall, to the extent
it is legally entitled to do so, deliver to the Company and the Administrative Agent (in such number of copies as shall be reasonably
requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from
time to time thereafter upon the reasonable request of the Company or the Administrative Agent), executed originals of any other
form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed,
together with such supplementary documentation as may be prescribed by applicable law to permit the Company or the Administrative
Agent to determine the withholding or deduction required to be made; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(D) if a payment made to a Lender under any
Loan Document would be subject to withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting
requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver
to the Company and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested
by the Company or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section
1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Company or the Administrative Agent
as may be necessary for the Company and the Administrative Agent to comply with their obligations under FATCA and to determine
that such Lender has complied with such Lender's obligations under FATCA or to determine the amount to deduct and withhold from
such payment. Solely for purposes of this clause (D), &quot;FATCA&quot; shall include any amendments made to FATCA after the date
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Lender agrees that if any form or certification
it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or
promptly notify the Company and the Administrative Agent in writing of its legal inability to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(E) The Administrative Agent shall deliver
to the Company an electronic copy of a duly completed and executed IRS Form W-9 upon becoming a party under this Agreement. The
Administrative Agent represents to the Company that it is a &quot;U.S. person&quot; and a &quot;financial institution&quot; within
the meaning of Treasury Regulations Section 1.1441-1 and a &quot;U.S. financial institution&quot; within the meaning of Treasury
Regulations Section 1.1471-3T and that it will comply with its obligations to withhold under Section 1441 and FATCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Treatment
of Certain Refunds</U>. If any party determines, in its sole discretion exercised in good faith, that it has received a refund
of any Taxes as to which it has been indemnified pursuant to this Section 3.03 (including by the payment of additional amounts
pursuant to this Section 3.03), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of
indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses
(including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant
Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount
to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable
net after-Tax position than the indemnified party would have been in if the indemnification payments or additional amounts giving
rise to such refund had never been paid. This paragraph shall not be construed to require any indemnified party to make available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other
Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival</U>.
Each party's obligations under this Section 3.03 shall survive the resignation or replacement of the Administrative Agent or any
assignment of rights by, or the replacement of, a Lender, the termination of the Advances, and the repayment, satisfaction or discharge
of all obligations under any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE IV<BR>
COLLECTIONS AND PAYMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 4.01. <U>Interest Proceeds</U>.
The Company shall notify the obligor with respect to each Portfolio Investment to remit all amounts that constitute Interest Proceeds
to the Collection Account. To the extent Interest Proceeds are received other than by deposit into the Collection Account, the
Company shall cause all Interest Proceeds on the Portfolio Investments to be deposited in the Collection Account or remitted to
the Collateral Agent, and the Collateral Agent shall credit (or cause to be credited) to the Collection Account all Interest Proceeds
received by it immediately upon receipt thereof in accordance with the written direction of the Portfolio Manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Interest Proceeds shall be retained in the
Collection Account and invested (and reinvested) at the written direction of the Company (or the Portfolio Manager on its behalf)
delivered to the Collateral Agent in dollar-denominated high-grade investments selected by the Portfolio Manager (unless an Event
of Default has occurred and is continuing or a Market Value Event has occurred, in which case, selected by the Administrative Agent)
(&quot;<U>Eligible Investments</U>&quot;). Eligible Investments shall mature no later than the end of the then-current Calculation
Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Interest Proceeds on deposit in the Collection
Account shall be withdrawn by the Collateral Agent at the written direction of the Company or the Portfolio Manager on its behalf
(subject to Section 8.01(b)) and applied (i) to make payments in accordance with this Agreement or (ii) to make Permitted Distributions
or Permitted Tax Distributions in accordance with Section 6.02(t) and the definition of such term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.3pt; text-indent: -112.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 4.02. <U>Principal Proceeds</U>.
The Company shall notify the obligor with respect to each Portfolio Investment to remit all amounts that constitute Principal Proceeds
to the Collection Account. To the extent Principal Proceeds are received other than by deposit into the Collection Account, the
Company shall cause all Principal Proceeds received on the Portfolio Investments to be deposited in the Collection Account or remitted
to the Collateral Agent, and the Collateral Agent shall credit (or cause to be credited) to the Collection Account all Principal
Proceeds received by it immediately upon receipt thereof in accordance with the written direction of the Portfolio Manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">All Principal Proceeds shall be retained in
the Collection Account and invested at the written direction of the Administrative Agent in overnight Eligible Investments selected
by the Portfolio Manager (unless an Event of Default has occurred and is continuing or a Market Value Event has occurred, in which
case, selected by the Administrative Agent). All investment income on such Eligible Investments shall constitute Interest Proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Principal Proceeds on deposit in the Collection
Account shall be withdrawn by the Collateral Agent at the written direction of the Company or the Portfolio Manager on its behalf
(subject to Section 8.01(b)) and applied (i) to make payments in accordance with this Agreement, (ii) towards the purchase price
of Portfolio Investments purchased in accordance with this Agreement or (iii) to be deposited into the Unfunded Exposure Account
in accordance with this Agreement, in each case with prior notice to the Administrative Agent. For the avoidance of doubt, Principal
Proceeds received in connection with the sale of any Portfolio Investment pursuant to Section 1.04 following a Market Value Event
shall be used to prepay Advances as set forth therein at the written direction of the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 4.03. <U>Principal and Interest
Payments; Prepayments; Commitment Fee.</U><FONT STYLE="font-size: 10pt"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) The Company shall pay the unpaid principal
amount of the Advances (together with accrued interest thereon) to the Administrative Agent for the account of each Lender on the
Maturity Date in accordance with the Priority of Payments and any and all cash in the Accounts shall be applied to the satisfaction
of the Secured Obligations on the Maturity Date and on each Additional Distribution Date in accordance with the Priority of Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) Accrued interest on the Advances shall
be payable in arrears on each Interest Payment Date, each Additional Distribution Date and on the Maturity Date in accordance with
the Priority of Payments; <I>provided</I> that (i)&nbsp;interest accrued pursuant to the proviso to Section 3.01(b) shall be payable
on demand and (ii)&nbsp;in the event of any repayment or prepayment of any Advances, accrued interest on the principal amount repaid
or prepaid shall be payable on the date of such repayment or prepayment. &quot;<U>Interest Payment Date</U>&quot; means the 5th
Business Day after the last day of each Calculation Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(c)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the requirements of this Section 4.03(c), the Company shall have the right from time to time to prepay outstanding Advances
in whole or in part (A) on any Business Day that JPMorgan Chase Bank, National Association ceases to act as Administrative Agent
or JPMorgan Chase Bank, National Associate or its Affiliate ceases to be the sole Required Lender, (B) in connection with a Market
Value Cure, (C) subject to the payment of the premium described in clause (ii) below, up to but not more than three times during
any Calculation Period, (D) upon the occurrence of a Repayment Event or (E) following (1) notice from a Lender of unlawfulness
or a request from a Lender of compensation, in each case, as provided in Section 3.01(e) or (f) or (2) a default by a Lender in
its obligation to make Advances hereunder; <I>provided</I> that, the Company may not prepay any outstanding Advances pursuant to
Section 4.03(c)(i)(C) during the Non-Call Period in an amount that would cause the aggregate outstanding principal amount of the
Advances to be below the Minimum Funding Amount; <I>provided</I>, <I>further</I>, that the Company may not prepay outstanding Advances
pursuant to Section 4.03(c)(i)(E)(2) if such default is not continuing on the date of prepayment specified by the Company pursuant
to the immediately succeeding sentence. The Company shall notify the Administrative Agent, the Collateral Agent and the Collateral
Administrator by electronic mail of an executed document (attached as a .pdf or similar file) of any prepayment pursuant to Section
4.03(c)(i)(A), Section 4.03(c)(i)(C), Section 4.03(c)(i)(D) of Section 4.03(c)(i)(E) not later than 2:00&nbsp;p.m., New&nbsp;York&nbsp;City
time, two (2) Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment
date and the principal amount of the Advances to be prepaid. Promptly following receipt of any such notice, the Administrative
Agent shall advise the Lenders of the contents thereof. Except in connection with a Market Value Cure, each partial prepayment
of outstanding Advances shall be in an amount not less than U.S.$2,000,000 (or, if less, the remaining outstanding principal amount
of an Advance). Prepayments shall be accompanied by accrued and unpaid interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
prepayment or commitment reduction pursuant to Section 4.03(c)(i)(C) and Section 4.07(a) that is made after the Non-Call Period
and during the Reinvestment Period, whether in full or in part, shall be accompanied by a premium equal to 1% of the principal
amount of such prepayment or commitment reduction;<I> provided</I> that no such premium shall be payable with respect to any prepayment
(or portion thereof) that does not exceed the Excess Funded Amount. No other prepayment or repayment of Secured Obligations or
any commitment reduction hereunder shall be subject to any premium.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) The Company agrees to pay to the Administrative
Agent, for the account of each Lender (other than a Lender that has defaulted in its obligation to make Advances hereunder), a
commitment fee in accordance with the Priority of Payments which shall accrue at 1.00% per annum (or, during the Ramp-Up Period,
0.50% per annum) on the average daily unused amount of the Financing Commitment of such Lender during the period from and including
the date of this Agreement to but excluding the last day of the Reinvestment Period. Accrued commitment fees shall be payable in
arrears on each Interest Payment Date, and on the date on which the Financing Commitments terminate. All commitment fees shall
be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first
day but excluding the last day).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e) The Company agrees to pay the Administrative
Agent on the date of this Agreement, for the ratable account of each Lender, an upfront fee on the date hereof in an aggregate
amount equal to U.S.$1,500,000. Once paid, such fees or any part thereof shall not be refundable under any circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f) Without limiting Section 4.03(c), the
Company shall have the obligation from time to time to prepay outstanding Advances in whole or in part on any date with proceeds
from sales of Portfolio Investments directed by the Administrative Agent pursuant to Section 1.04. Prepayments shall be accompanied
by accrued and unpaid interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 4.04. <U>Market Value
Cure Account</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company shall cause all cash received by it in connection with an Market Value Cure to be deposited in the MV Cure Account or remitted
to the Collateral Agent, and the Collateral Agent shall credit to the MV Cure Account such amounts received by it (and identified
in writing as such) immediately upon receipt thereof. Prior to the Maturity Date, all cash amounts in the MV Cure Account shall
be invested in overnight Eligible Investments at the written direction of the Administrative Agent (as directed by the Required
Lenders). All amounts contributed to the Company by Parent in connection with an Market Value Cure shall be paid free and clear
of any right of chargeback or other equitable claim.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Amounts
on deposit in the MV Cure Account may be withdrawn by the Collateral Agent at the written direction of the Company or the Portfolio
Manager on its behalf (subject to Section 8.01(b)) and remitted to the Company with three (3) Business Days</FONT>'<FONT STYLE="font-size: 10pt">
prior notice to the Administrative Agent (or, following the occurrence and during the continuance of an Event of Default and the
declaration of the Advances then outstanding to be due and payable pursuant to Article VII or following the occurrence of a Market
Value Event, to the Lenders for prepayment of Advances and reduction of Financing Commitment); <I>provided </I>that the Company
may not direct any withdrawal from the MV Cure Account if the Borrowing Base Test is not satisfied (or would not be satisfied after
such withdrawal); <I>provided further</I> that the Administrative Agent confirms in writing (which may be by email) to the Collateral
Agent that the conditions to a withdrawal from the MV Cure Account set forth herein are satisfied; <I>provided</I>, <I>further</I>
that if the Administrative Agent does not notify the Collateral Agent in writing (which may be by email) that it does or does not
confirm that such conditions are satisfied within two (2) Business Days following delivery of written notice (which may be by email)
of a proposed withdrawal from the MV Cure Account requesting such confirmation and addressed to each of the employees of the Administrative
Agent identified on Schedule 2 hereto (as modified by the Administrative Agent from time to time in writing), the Administrative
Agent will be deemed to have confirmed that such conditions are satisfied. Upon the receipt of the Administrative Agent's confirmation
in accordance with the immediately preceding sentence, the Collateral Agent shall cause the amounts specified in the direction
of the Company or the Portfolio Manager on its behalf to be withdrawn and remitted as specified in such direction into the accounts
designated by the Company or the Portfolio Manager on its behalf on the next Agent Business Day after receipt of the Administrative
Agent's confirmation in accordance with the immediately preceding sentence. Neither the Collateral Agent nor the Securities Intermediary
shall have any obligation to determine whether the Borrowing Base Test is satisfied.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION
4.05.&nbsp;&nbsp;<U> Priority of Payments</U> On (w) each Interest Payment Date, (x) the Maturity Date, (y) any date after the occurrence
of a Market Value Event and (z) any date after the Maturity Date following an Event of Default and the declaration of the Secured
Obligations as due and payable (each date set forth in clauses (y) and (z) above, an &quot;<U>Additional Distribution Date</U>&quot;),
the Collateral Agent shall distribute all amounts in the Collection Account in the following order of priority (the &quot;<U>Priority
of Payments</U>&quot;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Using
Interest Proceeds to pay (i) first, amounts due or payable to the Collateral Agent, the Collateral Administrator and the Securities
Intermediary hereunder (including fees, out-of-pocket expenses and indemnities and fees and expenses of counsel), (ii) any other
accrued and unpaid fees and out-of-pocket expenses (other than the commitment fee payable to the Lenders, but including Lender
indemnities) due hereunder and under the Sale Agreement and the Master Participation Agreement (other than such amounts payable
to the Portfolio Manager) and (iii) any accrued and unpaid fees and out-of-pocket expenses (including indemnities) payable to the
Portfolio Manager hereunder and under the Portfolio Management Agreement, up to a maximum amount under this clause (a) of U.S.$100,000
on each Interest Payment Date and U.S.$250,000 on each Additional Distribution Date and the Maturity Date (the &quot;<U>Expense
Cap Amount</U>&quot;) (in the case of any Additional Distribution Date or the Maturity Date, after giving effect to all payments
of such amounts on any other Additional Distribution Date or Interest Payment Date occurring in the same calendar quarter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Using
Interest Proceeds to pay interest due in respect of the Advances and commitment fees payable to the Lenders (pro rata based on
amounts due);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Using
Interest Proceeds or Principal Proceeds to pay (i) on each Interest Payment Date, all prepayments of the Advances permitted or
required under this Agreement (including any applicable premium) and (ii) on the Maturity Date (and, if applicable, any Additional
Distribution Date), principal of the Advances until the Advances are paid in full;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the end of the Reinvestment Period, at the direction of the Portfolio Manager, to fund the Unfunded Exposure Account using Principal
Proceeds up to the Unfunded Exposure Amounts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
pay all amounts set forth in clause (a) above not paid due to the limitation set forth therein using Interest Proceeds and, on
the Maturity Date and any Additional Distribution Date, Principal Proceeds;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
make any Permitted Distributions using Interest Proceeds or Permitted Tax Distributions using Excess Interest Proceeds each as
directed pursuant to this Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
On any Interest Payment Date other than the Maturity Date, to deposit any remaining Principal Proceeds into the Collection Account
as Principal Proceeds and any remaining Interest Proceeds into the Collection Account as Interest Proceeds and (ii) on the Maturity
Date and any Additional Distribution Date, any remaining amounts to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 4.06. <U>Payments Generally</U>.
All payments to the Lenders or the Administrative Agent shall be made to the Administrative Agent at the account designated in
writing to the Company and the Collateral Agent for further distribution by the Administrative Agent (if applicable). The Administrative
Agent shall give written notice to the Collateral Agent and the Collateral Administrator (on which the Collateral Agent and the
Collateral Administrator may conclusively rely) and the Portfolio Manager of the calculation of amounts payable to the Lenders
in respect of the Advances and the amounts payable to the Portfolio Manager. At least two (2) Business Days prior to each Interest
Payment Date, the Administrative Agent shall deliver an invoice to the Portfolio Manager, the Collateral Agent and the Collateral
Administrator in respect of the interest due on such Interest Payment Date. All payments not made to the Administrative Agent for
distribution to the Lenders shall be made as directed in writing by the Administrative Agent. Subject to Section 3.03 hereof, all
payments by the Company hereunder shall be made without setoff or counterclaim. All payments hereunder shall be made in U.S. dollars.
All interest hereunder shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days
elapsed (including the first day but excluding the last day).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 4.07. <U>Termination or Reduction
of Financing Commitments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) After the Non-Call Period, the Company
shall be entitled at its option, subject to the payment of the premium described in Section 4.03(c)(ii), and upon three (3) Business
Days' prior written notice to the Administrative Agent (with a copy to the Collateral Agent and the Collateral Administrator) to
either (i) terminate the Financing Commitments in whole upon payment in full of all Advances, all accrued and unpaid interest,
all applicable premium and all other Secured Obligations (other than unmatured contingent indemnification and reimbursement obligations)
or (ii) reduce in part the portion of the Financing Commitments that exceeds the sum of the outstanding Advances. In addition,
the Financing Commitments shall be reduced by the amount of any prepayment of Advances pursuant to Section 4.03(c)(i)(C) that exceeds
the Excess Funded Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) If (1) JPMorgan Chase Bank, National Association
ceases to act as Administrative Agent or JPMorgan Chase Bank, National Associate or its Affiliate ceases to be the sole Required
Lender or (2) a Lender (x) has provided notice of unlawfulness or a request for compensation, in each case, as provided in Section
3.01(e) or (f) or (y) has defaulted in its obligation to make Advances hereunder, the Company shall be entitled at its option,
upon three (3) Business Days' prior written notice to the Administrative Agent (with a copy to the Collateral Agent and the Collateral
Administrator) to either (i) terminate the Financing Commitments in whole upon payment in full of all Advances, all accrued and
unpaid interest, all applicable premium and all other Secured Obligations (other than unmatured contingent indemnification and
reimbursement obligations) or (ii) reduce in part the portion of the Financing Commitments that exceeds the sum of the outstanding
Advances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) The Financing Commitments shall be automatically
reduced on the date of any prepayment made in accordance with the definition of &quot;Market Value Cure&quot; in an amount equal
to the amount of such prepayment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) The Financing Commitments shall be irrevocably
reduced by all amounts that are used to prepay or repay Advances following the occurrence of a Market Value Event or an Event of
Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e) All unused Financing Commitments as of
the last day of the Reinvestment Period shall automatically be terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f) The Financing Commitments shall be irrevocably
reduced by the amount of any repayment or prepayment of Advances following the last day of the Reinvestment Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Notwithstanding anything else in this Section
4.07 to the contrary, each reduction of Financing Commitments pursuant to this Section 4.07 shall be deemed to apply, first, to
the portion of the Financing Commitments that may not be reborrowed until all such Financing Commitments have been reduced to zero
and, second, to the portion of the Financing Commitments that may be reborrowed pursuant to Section 3.01(a) until all such Financing
Commitments have been reduced to zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE V<BR>
[RESERVED]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in; text-indent: -1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 5.01. <U>[Reserved]</U><FONT STYLE="font-size: 10pt">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE VI<BR>
REPRESENTATIONS, WARRANTIES AND COVENANTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 6.01. <U>Representations and
Warranties</U>. The Company (and, with respect to clauses (a) through (e), (l), (o), (t) through (w) and (aa), the Portfolio Manager)
represents to the other parties hereto solely with respect to itself that as of the date hereof and each Trade Date (or as of such
other date as maybe expressly set forth below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
is duly organized or incorporated, as the case may be, and validly existing under the laws of the jurisdiction of its organization
or incorporation and has all requisite power and authority to execute, deliver and perform this Agreement and each other Loan Document
to which it is or may become a party and to consummate the transactions herein and therein contemplated;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
execution, delivery and performance of this Agreement and each such other Loan Document, and the consummation of the transactions
contemplated herein and therein have been duly authorized by it and this Agreement and each other Loan Document to which it is
or may become a party constitutes its legal, valid and binding obligation enforceable against it in accordance with its terms (subject
to (A) bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors' rights generally and
(B) equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in
a proceeding in equity or at law);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
execution, delivery and performance of this Agreement and each other Loan Document to which it is or may become a party and the
consummation of such transactions do not conflict with the provisions of its governing instruments and will not violate in any
material way any provisions of Applicable Law or regulation or any applicable order of any court or regulatory body and will not
result in the material breach of, or constitute a default, or require any consent, under any material agreement, instrument or
document to which it is a party or by which it or any of its property may be bound or affected;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
is not subject to any Adverse Proceeding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
has obtained all consents and authorizations (including all required consents and authorizations of any Governmental Authority)
that are necessary or advisable to be obtained by it in connection with the execution, delivery and performance of this Agreement
and each other Loan Document to which it is or may become a party and each such consent and authorization is in full force and
effect except where the failure to do so would not reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
is not required to register as an &quot;investment company&quot; as defined in the Investment Company Act of 1940, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
has not issued any securities that are or are required to be registered under the Securities Act of 1933, as amended, and it is
not a reporting company under the Securities Exchange Act of 1934, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company has no Indebtedness other than (i) Indebtedness incurred under the terms of the Loan Documents and (ii) Indebtedness incurred
pursuant to certain ordinary business expenses arising pursuant to the transactions contemplated by this Agreement and the other
Loan Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)
it does not have underlying assets which constitute &quot;plan assets&quot; within the Plan Asset Rules; and (y) neither it nor
any ERISA Affiliate has within the last six years sponsored, maintained, contributed to, or been required to contribute to and
does not have any liability with respect to any Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as
of the date of this Agreement it is, and after giving effect to any Advance it will be, Solvent and it is not entering into this
Agreement or any other Loan Document or consummating any transaction contemplated hereby or thereby with any intent to hinder,
delay or defraud any of its creditors;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
is not in default under any other contract to which it is a party except where such default would not reasonably be expected to
have a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
has complied with all Applicable Laws, judgments, agreements with governmental authorities, decrees and orders with respect to
its business and properties and the Portfolio, except where noncompliance would not reasonably be expected to have a Material Adverse
Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it
does not have any Subsidiaries or own any Investments in any Person other than the Portfolio Investments or Investments (i) constituting
Eligible Investments (as measured at their time of acquisition), (ii) acquired by the Company with the approval of the Administrative
Agent, or (iii) those the Company shall have acquired or received as a distribution in connection with a workout, bankruptcy, foreclosure,
restructuring or similar process or proceeding involving a Portfolio Investment or any issuer thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(n) (x) it has disclosed to the Administrative
Agent all agreements, instruments and corporate or other restrictions to which it is subject, and all other matters actually known
to it that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect and (y) no information
(other than projections, forward-looking information, general economic data, industry information or information relating to third
parties) heretofore furnished by or on behalf of the Company in writing to the Administrative Agent or any Lender in connection
with this Agreement or any transaction contemplated hereby (after taking into account all updates, modifications and supplements
to such information) contains (or, to the extent any such information was furnished by a third party, to the Company's knowledge
contains), when taken as a whole, as of its delivery date, any material misstatement of fact or omits to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
of the conditions to the acquisition of the Portfolio Investments specified in Section 1.03 have been satisfied or waived;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company has timely filed all Tax returns required by Applicable Law to have been filed by it; all such Tax returns are true and
correct in all material respects; and the Company has paid or withheld (as applicable) all Taxes owing or required to be withheld
by it (if any), except any such Taxes which are being contested in good faith by appropriate proceedings and (i) for which adequate
reserves shall have been set aside in accordance with GAAP on its books and records and (ii) in the case of a Tax which has or
may become a Lien against any of the Collateral, such contest proceedings conclusively operate to stay the sale of any portion
of the Collateral to satisfy such Taxes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company is and will be treated as a disregarded entity or partnership for U.S. federal income tax purposes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company is and will be wholly owned by the Parent, which is a U.S. Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prior
to the date hereof, the Company has not engaged in any business operations or activities other than as an ownership entity for
Portfolio Investments and similar loan or debt obligations and activities incidental thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;neither
it nor any of its Affiliates is (i) a country, territory, organization, person or entity named on an Office of Foreign Asset Control
(OFAC) list; (ii) a Person that resides or has a place of business in a country or territory named on such lists or which is designated
as a &quot;Non-Cooperative Jurisdiction&quot; by the Financial Action Task Force on Money Laundering, or whose subscription funds
are transferred from or through such a jurisdiction; (iii) a &quot;Foreign Shell Bank&quot; within the meaning of the PATRIOT Act,
i.e., a foreign bank that does not have a physical presence in any country and that is not affiliated with a bank that has a physical
presence and an acceptable level of regulation and supervision; or (iv) a person or entity that resides in or is organized under
the laws of a jurisdiction designated by the United States Secretary of the Treasury under Sections 311 or 312 of the PATRIOT Act
as warranting special measures due to money laundering concerns. It is in compliance with all applicable OFAC rules and regulations
and also in compliance with all applicable provisions of the PATRIOT Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company has implemented and maintains in effect policies and procedures designed to ensure compliance by the Company, its agents
and their respective directors, managers, officers and employees (as applicable) with Anti-Corruption Laws and applicable Sanctions,
and the Company and its officers and, to its knowledge, its directors, members and agents are in compliance with Anti-Corruption
Laws and applicable Sanctions in all material respects and are not knowingly engaged in any activity that would reasonably be expected
to result in the Company being designated as a Sanctioned Person. None of (i) the Company or its officers or (ii) to the knowledge
of the Company, any director, manager or agent of the Company that will act in any capacity in connection with or benefit from
the credit facility established hereby, is a Sanctioned Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Loan Documents represent all of the material agreements between the Portfolio Manager and the Parent, on the one hand, and the
Company, on the other. The Company has good and marketable title to all Portfolio Investments and other Collateral free of any
Liens (other than Liens in favor of the Secured Parties pursuant to the Loan Documents, Permitted Liens and inchoate liens arising
by operation of law) and no effective financing statement (other than with respect to Permitted Liens) or other instrument similar
in effect naming or purportedly naming the Company as debtor and covering all or any part of the Collateral is on file in any recording
office, except such as may have been filed in favor of the Collateral Agent as &quot;Secured Party&quot; pursuant hereto, as necessary
or advisable in connection with the Sale Agreement or which has been terminated;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company is not relying on any advice (whether written or oral) of any Lender, the Administrative Agent or any of their Affiliates
in connection with this Agreement, the other Loan Documents or the transactions contemplated hereby or thereby and the Company
has its own advisors in connection therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
are no judgments for Taxes with respect to the Company and no claim is being asserted with respect to the Taxes of the Company
except to the extent that any such claim is being contested in compliance with clause (p) above;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;upon
the making of each Advance, the Collateral Agent, for the benefit of the Secured Parties, will have acquired a perfected, first
priority and valid security interest (except, as to priority, for any Permitted Liens) in the Collateral acquired with the proceeds
of such Advance, free and clear of any adverse claim (other than Permitted Liens) or restrictions on transferability, to the extent
(as to perfection and priority) that a security interest in said Collateral may be perfected under the applicable UCC;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Parent has elected to be treated a business development corporation for purposes of the Investment Company Act of 1940, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager is registered as an investment adviser under the Investment Advisers Act of 1940, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
ERISA Event has occurred; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
proceeds of the Advances will be used by the Company only in accordance with the provisions of this Agreement. No part of the proceeds
of any Advance will be used by the Company to purchase or carry any Margin Stock or to extend credit to others for the purpose
of purchasing or carrying Margin Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 6.02. <U>Covenants of the Company
and the Portfolio Manager</U>. The Company (and, with respect to clauses (e), (g)(C), (k), (n), (o) and (gg), the Portfolio Manager):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
at all times: (i) maintain at least one independent manager or director (who is in the business of serving as an independent manager
or director); (ii) maintain its own separate books and records and bank accounts; (iii) hold itself out to the public and all other
Persons as a legal entity separate from any other Person; (iv) have a board of managers separate from that of any other Person;
(v) file its own Tax returns, except to the extent that the Company is treated as a &quot;disregarded entity&quot; for Tax purposes
and is not required to file any Tax returns under Applicable Law, and pay any Taxes so required to be paid under Applicable Law,
except for those Taxes being contested in good faith by appropriate proceedings and in respect of which the Company has established
proper reserves on its books in accordance with GAAP; (vi) not commingle its assets with assets of any other Person; (vii) conduct
its business in its own name and comply with all organizational formalities to maintain its separate existence; (viii) maintain
separate financial statements; (ix) pay its own liabilities only out of its own funds; (x) maintain an arm's length relationship
with the Parent and each of its other Affiliates; (xi) not hold out its credit or assets as being available to satisfy the obligations
of others; (xii) allocate fairly and reasonably any overhead expenses that are shared with an Affiliate, including for shared office
space; (xiii) use separate stationery, invoices and checks; (xiv) except as expressly permitted by this Agreement, not pledge its
assets as security for the obligations of any other Person; (xv) correct any known misunderstanding regarding its separate identity;
(xvi) maintain adequate capital in light of its contemplated business purpose, transactions and liabilities and pay its operating
expenses and liabilities from its own assets; (xvii) not acquire the obligations or any securities of its Affiliates; (xviii) cause
the managers, officers, agents and other representatives of the Company to act at all times with respect to the Company consistently
and in furtherance of the foregoing and in the best interests of the Company; and (xix) maintain at least one special member, who,
upon the dissolution of the sole member or the withdrawal or the disassociation of the sole member from the Company, shall immediately
become the member of the Company in accordance with its organizational documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not (i) engage, directly or indirectly, in any business, other than the actions required or permitted to be performed under the
preceding clause (a), including, other than with respect to any warrants received in connection with a Portfolio Investment, controlling
the decisions or actions respecting the daily business or affairs of any other Person except as otherwise permitted hereunder (which,
for the avoidance of doubt, shall not prohibit the Company from taking, or refraining to take, any action under or with respect
to a Portfolio Investment); (ii) fail to be Solvent; (iii) release, sell, transfer, convey or assign any Portfolio Investment unless
in accordance with the Loan Documents; (iv) except for contributions of cash or assets to the Company or capital distributions
not prohibited under the terms and conditions of this Agreement and properly reflected on the books and records of the Company,
enter into any transaction with an Affiliate of the Company except on commercially reasonable terms similar to those available
to unaffiliated parties in an arm's-length transaction; (v) identify itself as a department or division of any other Person; or
(vi) own any asset or property other than the Collateral and the related assets and incidental personal property necessary for
the ownership or operation of these assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
take all actions consistent with and shall not take any action contrary to the &quot;Facts and Assumptions&quot; sections in the
opinions of counsel to the Borrower, dated the date hereof, relating to certain true sale and non-consolidation matters;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not create, incur, assume or suffer to exist any Indebtedness other than (i) Indebtedness incurred under the terms of the Loan
Documents and (ii) Indebtedness incurred pursuant to certain ordinary business expenses arising pursuant to the transactions contemplated
by this Agreement and the other Loan Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
comply with all Anti-Corruption Laws and applicable Sanctions and shall maintain in effect and enforce policies and procedures
designed to ensure compliance by the Company and its directors, managers, officers and agents with Anti-Corruption Laws and applicable
Sanctions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not, without the prior written consent of the Administrative Agent to the extent such consent is required therein, amend any of
its constituent documents or any document to which it is a party in any manner that would reasonably be expected to adversely affect
the Lenders in any material respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not (A) permit the validity or effectiveness of this Agreement or any grant hereunder to be impaired, or permit the Lien of this
Agreement to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants
or obligations with respect to this Agreement or the Advances, except as may be expressly permitted hereby, (B) permit any Lien
(including any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever or
otherwise, other than the lien of this Agreement) to be created on or extend to or otherwise arise upon or burden the Collateral
or any part thereof, any interest therein or the proceeds thereof, in each case, other than Permitted Liens, or (C) take any action
that would cause the Lien of this Agreement not to constitute a valid perfected security interest in the Collateral that is of
first priority, free of any adverse claim or the legal equivalent thereof, as applicable, except as may be expressly permitted
hereby (or in connection with a disposition of Collateral required hereby);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not, without the prior consent of the Administrative Agent (acting at the direction of the Required Lenders), which consent may
be withheld in the sole and absolute discretion of the Required Lenders, enter into any hedge agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not change its name, identity or corporate structure in any manner that would make any financing statement or continuation statement
filed by the Company (or by the Collateral Agent on behalf of the Company) in accordance with subsection (a) above materially misleading
or change its jurisdiction of organization, unless the Company shall have given the Administrative Agent and the Collateral Agent
at least 30 days prior written notice thereof, and shall promptly file, or authorize the filing of, appropriate amendments to all
previously filed financing statements and continuation statements (and shall provide a copy of such amendments to the Collateral
Agent and Administrative Agent together with written confirmation to the effect that all appropriate amendments or other documents
in respect of previously filed statements have been filed);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
do or cause to be done all things reasonably necessary to (i) preserve and keep in full force and effect its existence as a limited
liability company and take all reasonable action to maintain its rights, franchises, licenses and permits material to its business
in the jurisdiction of its formation and (ii) qualify and remain qualified as a limited liability company in good standing in each
jurisdiction where such qualification is material to its business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
comply with all Applicable Law (whether statutory, regulatory or otherwise), except where the failure to do so, individually or
in the aggregate, would not reasonably be expected to result in a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not merge into or consolidate with any Person or dissolve, terminate or liquidate in whole or in part, in each case, without the
prior written consent of the Administrative Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
for Investments permitted by Section 6.02(u)(C) and without the prior written consent of the Administrative Agent, shall not form,
or cause to be formed, any Subsidiaries; or make or suffer to exist any loans or advances to, or extend any credit to, or make
any investments (by way of transfer of property, contributions to capital, purchase of stock or securities or evidences of indebtedness,
acquisition of the business or assets, or otherwise) in, any Affiliate or any other Person except investments as otherwise permitted
herein and pursuant to the other Loan Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
ensure that (i) its affairs are conducted so that its underlying assets do not constitute &quot;plan assets&quot; within the meaning
of the Plan Asset Rules, and (ii) neither it nor any ERISA Affiliate sponsors, maintains, contributes to or is required to contribute
to or has any liability with respect to any Plan;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
for the security interest granted hereunder and as otherwise permitted hereunder, shall not sell, pledge, assign or transfer to
any other Person, or grant, create, incur, assume or suffer to exist any Lien on the Collateral or any interest therein (other
than Liens in favor of the Secured Parties pursuant to the Loan Documents and Permitted Liens), and the Company shall defend the
right, title, and interest of the Collateral Agent (for the benefit of the Secured Parties) and the Lenders in and to the Collateral
against all claims of third parties claiming through or under the Company (other than Liens in favor of the Secured Parties pursuant
to the Loan Documents and Permitted Liens);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
promptly furnish to the Administrative Agent, and the Administrative Agent shall furnish to the Lenders, copies of the following
financial statements, reports and information with respect to the Parent and it consolidated Subsidiaries (in each case, to the
extent prepared by the Parent):&nbsp; (i) as soon as available, but in any event within 120 days after the end of each fiscal year
of the Parent, a copy of the audited consolidated balance sheet of the Parent and its consolidated Subsidiaries (which shall include
an indication of the assets owned by the Company) as at the end of such year, the related consolidated statements of income for
such year and the related consolidated statements of changes in net assets and of cash flows for such year, setting forth in each
case in comparative form the figures for the previous year; <I>provided</I>, that the financial statements required to be delivered
pursuant to this clause (i) which are made available via EDGAR, or any successor system of the Securities Exchange Commission,
in the Parent's annual report on Form 10-K, shall be deemed delivered to the Administrative Agent on the date such documents are
made so available; (ii) as soon as available and in any event within 45 days after the end of each fiscal quarter of each fiscal
year (other than the last fiscal quarter of each fiscal year), an unaudited consolidated balance sheet of the Parent and its consolidated
Subsidiaries (which shall include an indication of the assets owned by the Company) as of the end of such fiscal quarter and including
the prior comparable period (if any), and the unaudited consolidated statements of income of the Parent and its consolidated Subsidiaries
for such fiscal quarter and for the period commencing at the end of the previous fiscal year and ending with the end of such fiscal
quarter, and the unaudited consolidated statements of cash flows of the Parent and its consolidated Subsidiaries for the period
commencing at the end of the previous fiscal year and ending with the end of such fiscal quarter; <I>provided</I>, that the financial
statements required to be delivered pursuant to this clause (ii) which are made available via EDGAR, or any successor system of
the Securities Exchange Commission, in Parent's quarterly report on Form 10-Q, shall be deemed delivered to the Administrative
Agent on the date such documents are made so available; and (iii) from time to time, such other information or documents (financial
or otherwise) as the Administrative Agent or the Required Lenders may reasonably request;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
pay or discharge or cause to be paid or discharged, before the same shall become delinquent, all Taxes levied or imposed upon the
Company or upon the income, profits or property of the Company; <I>provided</I> that the Company shall not be required to pay or
discharge or cause to be paid or discharged any such Tax the amount, applicability or validity of which is being contested in good
faith by appropriate proceedings and (i) for which disputed amounts adequate reserves in accordance with GAAP have been made and
(ii) in the case of a Tax which has or may become a Lien against any of the Collateral, such contest proceedings conclusively operate
to stay the sale of any portion of the Collateral to satisfy such Taxes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
permit representatives of the Administrative Agent at any time and from time to time as the Administrative Agent shall reasonably
request (A) to inspect and make copies of and abstracts from its records relating to the Portfolio Investments and (B) to visit
its properties in connection with the collection, processing or managing of the Portfolio Investments for the purpose of examining
such records, and to discuss matters relating to the Portfolio Investments or such Person's performance under this Agreement and
the other Loan Documents with any officer or employee or auditor (if any) of such Person having knowledge of such matters. The
Company agrees to render to the Administrative Agent such clerical and other assistance as may be reasonably requested with regard
to the foregoing; <I>provided</I> that such assistance shall not interfere in any material respect with the Company's or the Portfolio
Manager's business and operations. So long as no Event of Default has occurred and is continuing and no Market Value Event has
occurred, such visits and inspections shall occur only (i) upon five (5) Business Days' prior written notice, (ii) during normal
business hours and (iii) no more than once in any calendar year. Following the occurrence of a Market Value Event or following
the occurrence and during the continuance of an Event of Default, there shall be no limit on the timing or number of such inspections
and only one (1) Business Day' prior notice will be required before any inspection<I> provided</I> that any such inspection must
occur during normal business hours;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not use any part of the proceeds of any Advance, whether directly or indirectly, for any purpose that entails a violation of any
of the regulations of the Board of Governors of the Federal Reserve System of the United States of America, including Regulations
T, U and X;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not make any Restricted Payments without the prior written consent of the Administrative Agent; <I>provided</I> that the Company
may make Permitted Distributions on any Business Day in accordance with the definition of the term &quot;Permitted Distribution&quot;
and Permitted Tax Distributions on any Business Day in accordance with the definition of the term &quot;Permitted Tax Distribution&quot;;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not make or hold any Investments, except the Portfolio Investments or Investments (A) constituting Eligible Investments (measured
at the time of acquisition), (B) that have been consented to by the Administrative Agent or (C) those the Company shall have acquired
or received as a distribution in connection with a workout, bankruptcy, foreclosure, restructuring or similar process or proceeding
involving a Portfolio Investment or any issuer thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not request any Advance, and the Company shall not directly, or to the knowledge of the Company, indirectly, use, and shall procure
that its agents shall not directly, or to the knowledge of the Company, indirectly, use, the proceeds of any Advance (A) in furtherance
of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person
in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or
transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (C) in any manner that would result in the violation
of any Sanctions applicable to any party hereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
than pursuant to the Sale Agreement, shall not transfer to any of its Affiliates any Portfolio Investment purchased from any of
its Affiliates (other than sales to Affiliates conducted on terms and conditions consistent with those of an arm's length transaction
and at fair market value);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
post on a password protected website maintained by the Portfolio Manager to which the Administrative Agent will have access or
deliver via email to the Administrative Agent, with respect to each obligor in respect of a Portfolio Investment, within five (5)
Business Days of the receipt thereof by the Company or the Portfolio Manager, without duplication of any other reporting requirements
set forth in this Agreement or any other Loan Document, any management discussion and analysis provided by such obligor and any
financial reporting packages with respect to such obligor and with respect to each Portfolio Investment for such obligor (including
any attached or included information, statements and calculations). The Company shall cause the Portfolio Manager to provide such
other information as the Administrative Agent may reasonably request with respect to any Portfolio Investment or obligor (to the
extent reasonably available to the Portfolio Manager);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not elect to be classified as other than a disregarded entity or partnership for U.S. federal income tax purposes, nor shall the
Company take any other action or actions that would cause it to be classified, taxed or treated as a corporation or publicly traded
partnership taxable as a corporation for U.S. federal income tax purposes (including transferring interests in the Company on or
through an established securities market or secondary market (or the substantial equivalent thereof), within the meaning of Section
7704(b) of the Code (and Treasury regulations thereunder);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
only have partners or owners that are treated as U.S. Persons or that are disregarded entities owned by a U.S. Person and shall
not recognize the transfer of any interest in the Company that constitutes equity for U.S. federal income tax purposes to a person
that is not a U.S. Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
from time to time execute and deliver all such supplements and amendments hereto and all such financing statements, continuation
statements, instruments of further assurance and other instruments, and shall take such other action, in each case, as may be reasonably
necessary to secure the rights and remedies of the Secured Parties hereunder and to grant more effectively all or any portion of
the Collateral, maintain or preserve the security interest (and the priority thereof) of this Agreement or to carry out more effectively
the purposes hereof, perfect, publish notice of or protect the validity of any grant made or to be made by this Agreement, preserve
and defend title to the Collateral and the rights therein of the Collateral Agent and the Secured Parties in the Collateral and
the Collateral Agent against the claims of all persons and parties, pay any and all Taxes levied or assessed upon all or any part
of the Collateral and use its commercially reasonable efforts to minimize Taxes and any other costs arising in connection with
its activities or give, execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or
other papers that may be necessary or desirable to create, preserve, perfect or validate the security interest granted pursuant
to this Agreement or to enable the Collateral Agent to exercise and enforce its rights hereunder with respect to such pledge and
security interest, and hereby authorizes the Collateral Agent to file a UCC financing statement listing 'all assets of the debtor'
(or substantially similar language) in the collateral description of such financing statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
use all commercially reasonable efforts to elevate all Participation Interests granted under the Master Participation Agreement
to absolute assignments within the applicable then-current standard settlement timeframes set forth in LSTA guidelines;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not hire any employees;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(dd)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not maintain any bank accounts or securities accounts other than the Accounts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ee)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
as otherwise expressly permitted herein, shall not cancel or terminate any of the underlying instruments in respect of a Portfolio
Investment to which it is party or beneficiary (in any capacity), or consent to or accept any cancellation or termination of any
of such agreements unless (in each case) the Administrative Agent shall have consented thereto in writing in its sole discretion;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ff)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not make or incur any capital expenditures except as reasonably required to perform its functions in accordance with this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(gg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
not act on behalf of, a country, territory, entity or individual of prohibited countries, territories, entities and individuals
listed on, among other places, the OFAC website, and none of the Company, the Portfolio Manager or any of their respective Affiliates,
owners, directors or officers is a natural person or entity with whom dealings with U.S. persons or persons under the jurisdiction
of the United States are prohibited under any OFAC regulation or other applicable federal law or acting on behalf of such a Person
or entity. The Company does not own and will not acquire, and the Portfolio Manager will not cause the Company to own or acquire,
any security issued by, or interest in, any country, territory, or entity whose direct ownership by U.S. persons or persons under
the jurisdiction of the U.S. would be or is prohibited under any OFAC regulation or other applicable federal law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(hh)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall
give notice to the Administrative Agent and the Collateral Agent promptly in writing upon the occurrence of any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Adverse Proceeding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Default or Event of Default; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
adverse claim asserted against the Collateral Agent's Lien over any of the Portfolio Investments, the Accounts or any other Collateral
or the interests of the Secured Parties with respect to the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 6.03. <U>Amendments of Portfolio
Investments, Etc.</U> If the Company or the Portfolio Manager receives any notice or other communication concerning any amendment,
supplement, consent, waiver or other modification of any Portfolio Investment or any related underlying instrument or rights thereunder
(each, an &quot;<U>Amendment</U>&quot;) with respect to any Portfolio Investment or any related underlying instrument, or makes
any affirmative determination to exercise or refrain from exercising any rights or remedies thereunder, it will give prompt (and
in any event, not later than three (3) Business Days') notice thereof to the Administrative Agent (with a copy to the Collateral
Agent); <I>provided</I> that the Company or the Portfolio Manager, as applicable, shall not be required to give prior notice of
an Amendment to the Administrative Agent unless an Event of Default has occurred and is continuing or a Market Value Event has
occurred if such Amendment is not material. In any such event, the Company shall exercise all voting and other powers of ownership
relating to such Amendment or the exercise of such rights or remedies as the Portfolio Manager shall deem appropriate under the
circumstances. If an Event of Default has occurred and is continuing or a Market Value Event has occurred, the Company will exercise
all voting and other powers of ownership as the Administrative Agent (acting at the direction of the Required Lenders) shall instruct
(it being understood that if the terms of the related underlying instrument expressly prohibit or restrict any such rights given
to the Administrative Agent, then such right shall be limited to the extent necessary so that such prohibition or restriction is
not violated). In any such case, following the Company's receipt thereof, the Company shall promptly provide to the Administrative
Agent copies of all executed amendments to underlying instruments, executed waiver or consent forms or other documents executed
or delivered in connection with any Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE VII<BR>
EVENTS OF DEFAULT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If any of the following events (each an &quot;<U>Event
of Default</U>&quot;) shall occur:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company shall fail to pay any amount owing by it in respect of the Secured Obligations (whether for principal, interest, fees or
other amounts) when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment
thereof or otherwise and, solely in the case of amounts other than principal and interest, such failure continues for a period
of one (1) Business Day following the earlier of (x) the Company becoming aware of such failure or (y) receipt of written notice
by the Company and the Portfolio Manager of such failure;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
representation or warranty made or deemed made by or on behalf of the Company, the Portfolio Manager or the Parent (collectively,
the &quot;<U>Credit Risk Parties</U>&quot;) herein or in any Loan Document or any amendment or modification thereof or waiver thereunder,
or in any report, certificate, or other document (other than projections, forward-looking information, general economic data, industry
information or information relating to third parties) furnished pursuant hereto or in connection herewith or any amendment or modification
thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made (it being understood
that the failure of a Portfolio Investment to satisfy the Eligibility Criteria after the date of its purchase shall not constitute
a failure) and if such failure is capable of being remedied, such failure shall continue for a period of 30 days following the
earlier of (i) receipt by such Credit Risk Party of written notice of such inaccuracy from the Administrative Agent and (ii) an
officer of such Credit Risk Party becoming aware of such inaccuracy;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(c)(A) the Company shall fail
to observe or perform any covenant, condition or agreement contained in Section 6.02(a)(i) through (vii), (xi), (xiv) or (xix),
(b)(i) through (iv), (d), (f), (h), (i), (l), (m), (o), (t), (v), (w) or (cc) or (B) any Credit Risk Party shall fail to observe
or perform any other covenant, condition or agreement contained herein (it being understood that the failure of a Portfolio Investment
to satisfy the Eligibility Criteria after the date of its purchase shall not constitute such a failure) or in any other Loan Document
and, in the case of this clause (B), if such failure is capable of being remedied, such failure shall continue for a period of
30 days following the earlier of (i) receipt by such Credit Risk Party of written notice of such failure from the Administrative
Agent and (ii) an officer of such Credit Risk Party becoming aware of such failure;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(d) an involuntary proceeding
shall be commenced or an involuntary petition shall be filed seeking (i)&nbsp;liquidation, reorganization or other relief in respect
of any Credit Risk Party or the Sub-Adviser or its debts, or of a substantial part of its assets, under any Federal, state or foreign
bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii)&nbsp;the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for any Credit Risk Party or the Sub-Adviser or for a substantial part
of its assets, and, in any such case, such proceeding or petition shall continue undismissed for thirty (30)&nbsp;days or an order
or decree approving or ordering any of the foregoing shall be entered;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(e) any Credit Risk Party or the
Sub-Adviser shall (i)&nbsp;voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other
relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii)&nbsp;consent
to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (d)
of this Article, (iii)&nbsp;apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator
or similar official for such Credit Risk Party or the Sub-Adviser or for a substantial part of its assets, (iv)&nbsp;file an answer
admitting the material allegations of a petition filed against it in any such proceeding, (v)&nbsp;make a general assignment for
the benefit of creditors or (vi)&nbsp;take any action for the purpose of effecting any of the foregoing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(f) any Credit Risk Party or the
Sub-Adviser shall become unable, admit in writing its inability or fail generally to pay its debts as they become due;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(g) the passing of a resolution
by the equity holders of the Company in respect of the winding up on a voluntary basis of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(h) any final judgments or orders
(not subject to appeal or otherwise non-appealable) by one or more courts of competent jurisdiction for the payment of money in
an aggregate amount in excess of U.S.$1,000,000 (after giving effect to insurance, if any, available with respect thereto) shall
be rendered against the Company, and the same shall remain unsatisfied, unvacated, unbonded or unstayed for a period of thirty
(30) days after the date on which the right to appeal has expired;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i) an ERISA Event occurs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(j) a Change of Control occurs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(k) the Company, shall become
required to register as an &quot;investment company&quot; within the meaning of the Investment Company Act of 1940, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(l) (x) the Portfolio Manager
resigns or is terminated as Portfolio Manager under the Portfolio Management Agreement or (y) the Portfolio Manager assigns any
of its obligations or duties as Portfolio Manager under this Agreement or the Portfolio Management Agreement to a person other
than a Permitted PM Successor and the Administrative Agent has not consented to the assignee thereunder within ten (10) Business
Days of receipt of notice of such assignment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(m) the Net Asset Value is less
than the product of (1) the Net Advances multiplied by (2) 156.25% and such deficit is not remedied within two (2) Business Days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(n) (x) the Sub-Adviser or an
Affiliate of the Sub-Adviser meeting the criteria specified in the investment sub-advisory agreement between the Parent and the
Sub-Adviser as in effect on the Effective Date resigns or is terminated as the investment sub-advisor of the Parent or (y) the
obligations of the Sub-Adviser under such investment sub-advisory agreement are assigned to a person other than a Permitted Sub-Adviser
Successor and the Administrative Agent has not consented to the assignee thereunder within ten (10) Business Days of receipt of
notice of such assignment; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(o) (i) failure of the Company
to fund the Unfunded Exposure Account when required in accordance with Section 2.03(f) other than in the case that any Lender fails
to make the Advance required in accordance with Section 2.03(f) or (ii) failure of the Company to satisfy its obligations in respect
of unfunded obligations with respect to any Delayed Funding Term Loan (including the payment of any amount in connection with the
sale thereof to the extent required under this Agreement); provided that the failure of the Company to undertake any action set
forth in this clause (o) is not remedied within two (2) Business Days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">then, and in every such event (other than an event with respect
to the Company described in clause (d) or (e) of this Article), and at any time thereafter in each case during the continuance
of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Company, take either
or both of the following actions, at the same or different times:&nbsp;&nbsp;(i)&nbsp;terminate the Financing Commitments, and
thereupon the Financing Commitments shall terminate immediately, and (ii)&nbsp;declare all of the Secured Obligations then outstanding
to be due and payable in whole (or in part, in which case any Secured Obligations not so declared to be due and payable may thereafter
be declared to be due and payable), and thereupon the Secured Obligations so declared to be due and payable, together with accrued
interest thereon and all fees and other obligations of the Company accrued hereunder, shall become due and payable immediately,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Company; and in case of
any event with respect to the Company described in clause (d) or (e) of this Article, the Financing Commitments shall automatically
terminate and all Secured Obligations then outstanding, together with accrued interest thereon and all fees and other obligations
of the Company accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice
of any kind, all of which are hereby waived by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE VIII<BR>
ACCOUNTS; COLLATERAL SECURITY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 8.01. <U>The Accounts; Agreement
as to Control</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <U>Establishment and Maintenance of Accounts</U>.
The Company hereby appoints U.S. Bank National Association as Securities Intermediary and has directed and the Securities Intermediary
hereby acknowledges that it has established (1) an account designated as the &quot;<U>Custodial Account</U>&quot;, (2) an account
designated as the &quot;<U>Collection Account</U>&quot;, (3) an account designated as the &quot;<U>MV Cure Account</U>&quot; and
(4) an account designated as the &quot;Unfunded Exposure Account&quot; (the Unfunded Exposure Account, together with the Collection
Account, the Custodial Account, the MV Cure Account and any successor accounts established in connection with the resignation or
removal of the Securities Intermediary, the &quot;Accounts&quot;), and the account numbers for the Accounts are set forth on the
Transaction Schedule. The Securities Intermediary agrees to maintain each of the Accounts as a securities intermediary in the name
of the Company subject to the lien of the Collateral Agent under this Agreement and (y) agrees not to change the name or account
number of any Account without the prior consent of the Collateral Agent. The Securities Intermediary hereby certifies that it is
a bank or trust company that in the ordinary course of business maintains securities accounts for others and in that capacity has
established the Accounts in the name of the Company. For administrative purposes the Securities Intermediary may establish a subaccount
of the Collection Account for the purpose of holding Interest Proceeds and a subaccount of the Collection Account for the purpose
of holding Principal Proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <U>Collateral Agent in Control of Securities
Accounts</U>. Each of the parties hereto hereby agrees that (1) each Account shall be deemed to be a &quot;securities account&quot;
(within the meaning of Section 8-501(a) of the Uniform Commercial Code in effect in the State of New York (the &quot;<U>UCC</U>&quot;)),
(2) all property credited to any Account shall be treated as a financial asset for purposes of Article 8 of the UCC and (3)&nbsp;except
as otherwise expressly provided herein, the Collateral Agent will be exclusively entitled to exercise the rights that comprise
each financial asset credited to each Account. Subject to the immediately succeeding two sentences, the Securities Intermediary
will (i) act on entitlement orders or other instructions with respect to the Accounts originated by the Portfolio Manager on behalf
of the Company without the further consent of the Collateral Agent or any other Person and (ii) act on entitlement orders or other
instructions with respect to the Accounts originated by the Collateral Agent without the further consent of the Company, the Portfolio
Manager or any other Person. In the event of a conflict between an entitlement order or instruction originated by the Collateral
Agent and an entitlement order or instruction originated by the Portfolio Manager, the entitlement order originated by the Collateral
Agent shall govern. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, following the Securities'
Intermediary's receipt of a notice regarding the occurrence and during the continuance of an Event of Default and following the
occurrence of any Market Value Event, the Securities Intermediary shall act solely on entitlement orders and other instructions
with respect to the Accounts originated by the Collateral Agent without the consent of any other Person and shall not accept any
entitlement order or other instruction from the Portfolio Manager. The parties hereto agree that the Collateral Agent, for the
benefit of the Secured Parties, shall have control over each Account. The only permitted withdrawals from the Accounts shall be
in accordance with the provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <U>Subordination of Lien, Etc.</U> If
the Securities Intermediary has or subsequently obtains by agreement, operation of law or otherwise a security interest in any
Account or any security entitlement credited thereto, the Securities Intermediary hereby agrees that such security interest shall
be subordinate to the security interest of the Collateral Agent. The property credited to any Account will not be subject to deduction,
set-off, banker's lien, or any other right in favor of any Person other than the Collateral Agent (except that the Securities Intermediary
may set-off (1) all amounts due to the Securities Intermediary in respect of its reasonable fees and expenses for the routine maintenance
and operation of the Accounts, and (2)&nbsp;the face amount of any checks which have been credited to any Account but are subsequently
returned unpaid because of uncollected or insufficient funds).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) <U>Property Registered, Indorsed, etc.
to Securities Intermediary</U>. All securities or other property represented by a promissory note or an instrument underlying any
financial assets credited to any Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities
Intermediary in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no
case will any financial asset credited to any Account be registered in the name of the Company, payable to the order of the Company
or specially indorsed to the Company except to the extent the foregoing have been specially indorsed to the Securities Intermediary
or in blank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e) <U>Jurisdiction; Governing Law of Accounts</U>.
The establishment and maintenance of each Account and all interests, duties and obligations related thereto shall be governed by
the law of the State of New York and the &quot;securities intermediary's jurisdiction&quot; (within the meaning of Section 8-110
of the UCC) shall be the State of New York. Terms used in this Section 8.01 without definition have the meanings given to them
in the UCC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f) <U>No Duties</U>. The parties hereto acknowledge
and agree that the Securities Intermediary shall not have any additional duties under this Agreement other than those expressly
set forth in this Section 8.01, and the Securities Intermediary shall satisfy those duties expressly set forth in this Section
8.01 so long as it acts without gross negligence or willful misconduct. Without limiting the generality of the foregoing, the Securities
Intermediary shall not be subject to any fiduciary or other implied duties, and the Securities Intermediary shall not have any
duty to take any discretionary action or exercise any discretionary powers. The Securities Intermediary shall be subject to all
of the rights, protections and immunities given to the Collateral Agent hereunder, including indemnities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g) <U>Investment of Funds on Deposit in the
Unfunded Exposure Account</U>. All amounts on deposit in the Unfunded Exposure Account shall be invested (and reinvested) at the
written direction of the Company (or the Portfolio Manager on its behalf) delivered to the Collateral Agent in Eligible Investments;
<I>provided</I> that, following the occurrence and during the continuance of an Event of Default or following a Market Value Event,
all amounts on deposit in the Unfunded Exposure Account shall be invested, reinvested and otherwise disposed of at the written
direction of the Administrative Agent delivered to the Collateral Agent in accordance with the terms hereof, including the Priority
of Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h) <U>Unfunded Exposure Account</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amounts
may be deposited into the Unfunded Exposure Account from time to time (x) in accordance with Section 4.05, (y) as set forth in
Section 2.03(f) or (z) to the extent constituting capital contributions made to the Company, as directed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While
no Event of Default has occurred and is continuing and no Market Value Event has occurred and subject to satisfaction of the Borrowing
Base Test (after giving effect to such release), the Portfolio Manager may direct, by means of an instruction in writing to the
Securities Intermediary (with a copy to the Collateral Agent and the Collateral Administrator), the release of funds on deposit
in the Unfunded Exposure Account (i) for the purpose of funding the Company's unfunded commitments with respect to Delayed Funding
Term Loans or for deposit into the Collection Account and (ii) so long as no Unfunded Exposure Shortfall exists or would exist
after giving effect to the withdrawal. Following the occurrence and during the continuance of an Event of Default and the declaration
of the Secured Obligations then outstanding to be due and payable pursuant to Article VII or following the occurrence of a Market
Value Event, at the written direction of the Administrative Agent (with a copy to the Collateral Agent and the Collateral Administrator),
the Securities Intermediary shall transfer all amounts in the Unfunded Exposure Account to the Collection Account to be applied
pursuant to Section 4.05. Upon the direction of the Company by means of an instruction in writing to the Securities Intermediary
(with a copy to the Collateral Administrator, the Collateral Agent and the Administrative Agent), any amounts on deposit in the
Unfunded Exposure Account in excess of outstanding funding obligations of the Company shall be released to the Collection Account
to prepay the outstanding Advances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 8.02. <U>Collateral Security;
Pledge; Delivery</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <U>Grant of Security Interest</U>. As
collateral security for the prompt payment in full when due of all the Company's obligations to the Agents, the Collateral Administrator,
the Securities Intermediary and the Lenders (collectively, the &quot;<U>Secured Parties</U>&quot;) under this Agreement (collectively,
the &quot;<U>Secured Obligations</U>&quot;), the Company hereby pledges to the Collateral Agent and grants a continuing security
interest in favor of the Collateral Agent in all of the Company's right, title and interest in, to and under (in each case, whether
now owned or existing, or hereafter acquired or arising) all accounts, payment intangibles, general intangibles, chattel paper,
electronic chattel paper, instruments, deposit accounts, letter-of-credit rights, investment property, and any and all other property
of any type or nature owned by it (all of the property described in this clause (a) being collectively referred to herein as &quot;<U>Collateral</U>&quot;),
including, without limitation: (1) each Portfolio Investment, (2) all of the Company's interests in the Accounts and all investments,
obligations and other property from time to time credited thereto, (3) the Sale Agreement, the Master Participation Agreement,
the Portfolio Management Agreement and the Performance Guarantee and all rights related to each of the foregoing, (4) all other
property of the Company and (5) all proceeds thereof, all accessions to and substitutions and replacements for, any of the foregoing,
and all rents, profits and products of any thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <U>Delivery and Other Perfection</U>.
In furtherance of the collateral arrangements contemplated herein, the Company shall (1) Deliver to the Collateral Agent the Collateral
hereunder as and when acquired by the Company; (2) if any of the securities, monies or other property pledged by the Company hereunder
are received by the Company, forthwith take such action as is necessary to ensure the Collateral Agent's continuing perfected security
interest in such Collateral (including Delivering such securities, monies or other property to the Collateral Agent); and (3) upon
the reasonable request of the Administrative Agent, deliver to the Administrative Agent, the Lenders and the Collateral Agent,
at the expense of the Company, legal opinions from the Company's counsel or other counsel reasonably acceptable to the Administrative
Agent and the Lenders, as to the perfection and priority of the Collateral Agent's security interest in any of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<U>Deliver</U>&quot; (and its correlative
forms) means the taking of the following steps by the Company or the Portfolio Manager:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1) in the case of Portfolio Investments
and Eligible Investments and amounts on deposit in the MV Cure Account, by (x) causing the Securities Intermediary to indicate
by book entry that a financial asset comprised thereof has been credited to the applicable Account and (y) causing the Securities
Intermediary to agree that it will comply with entitlement orders originated by the Collateral Agent with respect to each such
security entitlement without further consent by the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2) in the case of each general
intangible, by notifying the obligor thereunder of the security interest of the Collateral Agent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(3) in the case of Portfolio Investments
consisting of money or instruments (the &quot;<U>Possessory Collateral</U>&quot;) that do not constitute a financial asset forming
the basis of a security entitlement delivered to the Collateral Agent pursuant to clause (1) above, by causing (x) the Collateral
Agent to obtain possession of such Possessory Collateral in the State of New York or the Commonwealth of Massachusetts, or (y)
a Person other than the Company and a securities intermediary (A)(I) to obtain possession of such Possessory Collateral in the
State of New York or the Commonwealth of Massachusetts, and (II) to then authenticate a record acknowledging that it holds possession
of such Possessory Collateral for the benefit of the Collateral Agent or (B)(I) to authenticate a record acknowledging that it
will take possession of such Possessory Collateral for the benefit of the Collateral Agent and (II) to then acquire possession
of such Possessory Collateral in the State of New York or the Commonwealth of Massachusetts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(4) in the case of any account
which constitutes a &quot;deposit account&quot; under Article 9 of the UCC, by causing the Securities Intermediary to continuously
identify in its books and records the security interest of the Collateral Agent in such account and, except as may be expressly
provided herein to the contrary, establishing dominion and control over such account in favor of the Collateral Agent; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(5) in all cases, by filing or
causing the filing of a financing statement with respect to such Collateral with the Delaware Secretary of State.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <U>Remedies, Etc.</U> During the period
in which an Event of Default shall have occurred and be continuing and the Advances then outstanding shall have been declared due
and payable in accordance with Article VII, the Collateral Agent shall (but only if and to the extent directed in writing by the
Required Lenders, with a copy to the Company and the Portfolio Manager) do any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1) Exercise in respect of the
Collateral, in addition to other rights and remedies provided for herein or otherwise available to it, all the rights and remedies
of a secured party under the UCC (whether or not the UCC applies to the affected Collateral) and also may, without notice except
as specified below, sell the Collateral or any part thereof in one or more parcels at public or private sale, at any of the Collateral
Agent's or its designee's offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Collateral
Agent or a designee of the Collateral Agent (acting at the direction of the Required Lenders) may deem commercially reasonable.
The Company agrees that, to the extent notice of sale shall be required by law, at least ten (10) calendar days' prior notice to
the Company of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable
notification. The Collateral Agent shall not be obligated to make any sale of the Collateral regardless of notice of sale having
been given. The Collateral Agent or its designee may adjourn any public or private sale from time to time by announcement at the
time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2) Transfer all or any part of
the Collateral into the name of the Collateral Agent or a nominee thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(3) Enforce collection of any
of the Collateral by suit or otherwise, and surrender, release or exchange all or any part thereof, or compromise or extend or
renew for any period (whether or not longer than the original period) any obligations of any nature of any party with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(4) Endorse any checks, drafts,
or other writings in the Company's name to allow collection of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(5) Take control of any proceeds
of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(6) Execute (in the name, place
and stead of any of the Company) endorsements, assignments, stock powers and other instruments of conveyance or transfer with respect
to all or any of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(7) Perform such other acts as
may be reasonably required to do to protect the Collateral Agent's rights and interest hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">In connection with any sale of the Collateral,
or any part thereof, pursuant to this clause (c), the Portfolio Manager and its Affiliates may enter one or more bids through the
Designated Independent Broker-Dealer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) <U>Compliance with Restrictions</U>. The
Company and the Portfolio Manager agree that in any sale of any of the Collateral, the Collateral Agent or its designee are hereby
authorized to comply with any limitation or restriction in connection with such sale as it may be advised by counsel in writing
is necessary in order to avoid any violation of applicable law (including compliance with such procedures as may restrict the number
of prospective bidders and purchasers, require that such prospective bidders and purchasers have certain qualifications, and restrict
such prospective bidders and purchasers to Persons who will represent and agree that they are purchasing for their own account
for investment and not with a view to the distribution or resale of such Collateral), or in order to obtain any required approval
of the sale or of the purchaser by any governmental regulatory authority or official, and the Company and the Portfolio Manager
further agree that such compliance shall not, in and of itself, result in such sale being considered or deemed not to have been
made in a commercially reasonable manner, nor shall the Collateral Agent be liable or accountable to the Company or the Portfolio
Manager for any discount allowed by the reason of the fact that such Collateral is sold in good faith compliance with any such
limitation or restriction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e) <U>Private Sale</U>. The Collateral Agent
shall incur no liability as a result of a sale of the Collateral, or any part thereof, at any private sale pursuant to clause (c)
above conducted in a commercially reasonable manner. The Company and the Portfolio Manager hereby waive any claims against each
Agent and Lender arising by reason of the fact that the price at which the Collateral may have been sold at such a private sale
was less than the price which might have been obtained at a public sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f) <U>Collateral Agent Appointed Attorney-in-Fact</U>.
The Company hereby appoints the Collateral Agent as the Company's attorney-in-fact (it being understood that the Collateral Agent
shall not be deemed to have assumed any of the obligations of the Company by this appointment), with full authority in the place
and stead of the Company and in the name of the Company, from time to time in the Collateral Agent's discretion (exercised at the
written direction of the Administrative Agent or the Required Lenders, as the case may be), after the occurrence and during the
continuation of an Event of Default, to take any action and to execute any instrument which the Administrative Agent or the Required
Lenders may deem necessary or advisable to accomplish the purposes of this Agreement. The Company hereby acknowledges, consents
and agrees that the power of attorney granted pursuant to this clause is irrevocable during the term of this Agreement and is coupled
with an interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g) <U>Further Assurances</U>. The Company
covenants and agrees that, from time to time upon the request of the Collateral Agent (as directed by the Administrative Agent),
the Company will execute and deliver such further documents, and do such other acts and things as the Collateral Agent (as directed
by the Administrative Agent) may reasonably request in order fully to effect the purposes of this Agreement and to protect and
preserve the priority and validity of the security interest granted hereunder or to enable the Collateral Agent to exercise and
enforce its rights and remedies hereunder with respect to any Collateral; <I>provided</I> that no such document may alter the rights
and protections afforded to the Company or the Portfolio Manager herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h) <U>Termination</U>. Upon the payment in
full of all Secured Obligations and termination of the Financing Commitments, the security interest granted herein shall automatically
(and without further action by any party) terminate and all rights to the Collateral shall revert to the Company. Upon any such
termination, the Collateral Agent will, at the Company's sole expense, deliver to the Company, or cause the Securities Intermediary
to deliver, without any representations, warranties or recourse of any kind whatsoever, all certificates and instruments representing
or evidencing all of the Collateral held by the Securities Intermediary hereunder, and execute and deliver to the Company or its
nominee such documents as the Company shall reasonably request to evidence such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE IX<BR>
THE AGENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 9.01. <U>Appointment of Administrative
Agent and Collateral Agent</U>. Each of the Lenders hereby irrevocably appoints each of the Administrative Agent and the Collateral
Agent (each, an &quot;<U>Agent</U>&quot; and collectively, the &quot;<U>Agents</U>&quot;) as its agent and authorizes such Agents
to take such actions on its behalf and to exercise such powers as are delegated to such Agent by the terms hereof, together with
such actions and powers as are reasonably incidental thereto. Anything contained herein to the contrary notwithstanding, each Agent
and each Lender hereby agree that no Lender shall have any right individually to realize upon any of the Collateral hereunder,
it being understood and agreed that all powers, rights and remedies hereunder with respect to the Collateral shall be exercised
solely by the Collateral Agent for the benefit of the Secured Parties at the direction of the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each financial institution serving as an Agent
hereunder shall have the same rights and powers in its capacity as a Lender (if applicable) as any other Lender and may exercise
the same as though it were not an Agent, and such financial institution and its Affiliates may accept deposits from, lend money
to and generally engage in any kind of business with the Company as if it were not an Agent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">No Agent, the Collateral Administrator or
the Securities Intermediary shall have any duties or obligations except those expressly set forth herein. Without limiting the
generality of the foregoing, (a)&nbsp;no Agent shall be subject to any fiduciary or other implied duties, regardless of whether
a Default has occurred and is continuing, (b)&nbsp;no Agent shall have any duty to take any discretionary action or exercise any
discretionary powers, except that the foregoing shall not limit any duty expressly set forth in this Agreement to include such
rights and powers expressly contemplated hereby that such Agent is required to exercise as directed in writing by (i) in the case
of the Collateral Agent (A) in respect of the exercise of remedies under Section 8.02(c), the Required Lenders, or (B) in all other
cases, the Administrative Agent or (ii) in the case of any Agent, the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary under the circumstances as provided herein), and (c) except as expressly set forth herein, no Agent
shall have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Company that
is communicated to or obtained by the financial institution serving in the capacity of such Agent or any of its Affiliates in any
capacity. No Agent shall be liable for any action taken or not taken by it in the absence of its own gross negligence or willful
misconduct or with the consent or at the request or direction of the Administrative Agent (in the case of the Collateral Administrator,
the Collateral Agent and the Securities Intermediary only) or the Required Lenders (or such other number or percentage of the Lenders
that shall be permitted herein to direct such action or forbearance). None of the Collateral Agent, the Collateral Administrator
or the Securities Intermediary shall be deemed to have knowledge of any Default, Event of Default, Market Value Event or failure
of the Borrowing Base Test unless and until a Responsible Officer has received written notice thereof from the Company, a Lender
or the Administrative Agent. None of the Collateral Agent, the Collateral Administrator, the Securities Intermediary or the Administrative
Agent shall be responsible for or have any duty to ascertain or inquire into (i)&nbsp;any statement, warranty or representation
made in or in connection with this Agreement, (ii)&nbsp;the contents of any certificate, report or other document delivered hereunder
or in connection herewith, (iii)&nbsp;the performance or observance of any of the covenants, agreements or other terms or conditions
set forth herein, (iv)&nbsp;the validity, enforceability, effectiveness, genuineness, value or sufficiency of this Agreement, any
other agreement, instrument or document or the Collateral, or (v)&nbsp;the satisfaction of any condition set forth herein, other
than to confirm receipt of items expressly required to be delivered to such Agent. None of the Collateral Agent, the Collateral
Administrator, the Securities Intermediary or the Administrative Agent shall be required to risk or expend its own funds in connection
with the performance of its obligations hereunder if it reasonably believes it will not receive reimbursement therefor hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Agent shall be entitled to rely upon,
and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, direction,
opinion, document or other writing believed by it to be genuine and to have been signed or sent by the proper person. Each Agent
also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper person, and shall
not incur any liability for relying thereon. Each Agent may consult with legal counsel (who may be counsel for the Company), independent
accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">In the event the Collateral Agent, the Collateral
Administrator or the Securities Intermediary shall receive conflicting instruction from the Administrative Agent and the Required
Lenders, the instruction of the Required Lenders shall govern. None of the Collateral Administrator, the Collateral Agent and the
Securities Intermediary shall have any duties or obligations under or in respect of any other agreement (including any agreement
that may be referenced herein) to which it is not a party. The grant of any permissive right or power to the Collateral Agent hereunder
shall not be construed to impose a duty to act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">It is expressly acknowledged and agreed that
none of the Collateral Administrator , the Securities Intermediary and the Collateral Agent shall be responsible for, and shall
not be under any duty to monitor or determine, compliance with the Eligibility Criteria (Schedule 3), the conditions to any purchase
of sale of Collateral , the Borrowing Base Test or the Concentration Limitations (Schedule 4) in any instance, to determine if
the conditions of &quot;Deliver&quot; have been satisfied or otherwise to monitor or determine compliance by any other Person with
the requirements of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Agent may perform any and all its duties
and exercise its rights and powers by or through any one or more sub-agents appointed by it. No Agent shall be responsible for
any misconduct or negligence on the part of any sub-agent or attorney appointed by such Agent with due care. Each Agent and any
such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Affiliates and the
respective directors, officers, employees, agents and advisors of such Person and its Affiliates (the &quot;<U>Related Parties</U>&quot;)
for such Agent. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties
of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the
credit facilities provided for herein as well as activities as Administrative Agent or Collateral Agent, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Subject to the appointment and acceptance
of a successor as provided in this paragraph, each of the Collateral Administrator, the Collateral Agent, the Securities Intermediary
and the Administrative Agent may resign at any time upon 30 days' notice to each other agent, the Lenders, the Portfolio Manager
and the Company. Upon any such resignation, the Required Lenders shall have the right to appoint a successor. If no successor shall
have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30)&nbsp;days after the
retiring Collateral Administrator, Collateral Agent, Securities Intermediary or Administrative Agent, as applicable, gives notice
of its resignation, then the Administrative Agent may, on behalf of the Lenders, appoint a successor which shall be a financial
institution with an office in New York, New York, or an Affiliate of any such financial institution. If no successor shall have
been so appointed by the Administrative Agent and shall have accepted such appointment within sixty (60) days after the retiring
agent gives notice of its resignation, such agent may petition a court of competent jurisdiction for the appointment of a successor.
Upon the acceptance of its appointment as Collateral Administrator, Securities Intermediary, Administrative Agent or Collateral
Agent, as the case may be, hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring agent, and the retiring agent shall be discharged from its duties and obligations hereunder.
After the retiring agent's resignation hereunder, the provisions of this Article and Sections&nbsp;5.03 and 10.04 shall continue
in effect for the benefit of such retiring agent, its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while it was acting as Collateral Administrator, Securities Intermediary, Administrative
Agent or Collateral Agent, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Subject to the appointment and acceptance
of a successor as provided in this paragraph, each of the Collateral Administrator, the Collateral Agent and the Securities Intermediary
may be removed at any time with 30 days' notice by the Company (with the written consent of the Administrative Agent), with notice
to the Collateral Administrator, the Collateral Agent, the Securities Intermediary, the Lenders and the Portfolio Manager. Upon
any such removal, the Company shall have the right (with the written consent of the Administrative Agent) to appoint a successor
to the Collateral Agent, the Collateral Administrator and/or the Securities Intermediary, as applicable. If no successor to any
such Person shall have been so appointed by the Company and shall have accepted such appointment within thirty (30)&nbsp;days after
such notice of removal, then the Administrative Agent may appoint a successor which shall be a financial institution with an office
in New York, New York, or an Affiliate of any such financial institution. Upon the acceptance of its appointment as Collateral
Administrator, Securities Intermediary or Collateral Agent, as the case may be, hereunder by a successor, such successor shall
succeed to and become vested with all the rights, powers, privileges and duties of the removed agent, and the removed agent shall
be discharged from its duties and obligations hereunder. After the removed agent's removal hereunder, the provisions of this Article
and Sections&nbsp;5.03 and 10.04 shall continue in effect for the benefit of such removed agent, its sub-agents and their respective
Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Collateral Administrator,
Securities Intermediary or Collateral Agent, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Upon the request of the Company or the Administrative
Agent or the successor agent, such retiring or removed agent shall, upon payment of its fees, expenses, indemnities and charges
(including the reasonable fees and expenses of counsel) then due hereunder and unpaid, execute and deliver an instrument transferring
to such successor agent all the rights, powers and trusts of the retiring or removed agent, and shall duly assign, transfer and
deliver to such successor agent all property and money held by such retiring or removed agent hereunder. Upon request of any such
successor agent, the Company and the Administrative Agent shall execute any and all instruments for more fully and certainly vesting
in and confirming to such successor agent all such rights, powers and trusts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Lender acknowledges that it has, independently
and without reliance upon any Agent or any other Lender and based on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently
and without reliance upon any Agent or any other Lender and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any related
agreement or any document furnished hereunder or thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Anything in this Agreement notwithstanding,
in no event shall any Agent, the Collateral Administrator or the Securities Intermediary be liable for special, punitive, indirect
or consequential loss or damage of any kind whatsoever (including lost profits), even if such Agent, the Collateral Administrator
or the Securities Intermediary, as the case may be, has been advised of such loss or damage and regardless of the form of action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Agent, the Collateral Administrator and
the Securities Intermediary shall not be liable for any error of judgment made in good faith by an officer or officers of such
Agent, the Collateral Administrator or the Securities Intermediary, unless it shall be conclusively determined by a court of competent
jurisdiction that such Agent, the Collateral Administrator or the Securities Intermediary was grossly negligent in ascertaining
the pertinent facts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Agent, the Collateral Administrator and
the Securities Intermediary shall not be responsible for the accuracy or content of any certificate, statement, direction or opinion
furnished to it in connection with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Each Agent, the Collateral Administrator and
the Securities Intermediary shall not be bound to make any investigation into the facts stated in any resolution, certificate,
statement, instrument, opinion, report, consent, order, approval, bond or other document or have any responsibility for filing
or recording any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection
of any security interest or lien granted to it hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">No Agent, the Collateral Administrator or
the Securities Intermediary shall be responsible for delays or failures in performance resulting from acts beyond its control.
Such acts include but are not limited to acts of God, strikes, lockouts, riots and acts of war. In connection with any payment,
the Collateral Agent, the Collateral Administrator and the Securities Intermediary are entitled to rely conclusively on any instructions
provided to them by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The rights, protections and immunities given
to the Agents in this Section 9.01 shall likewise be available and applicable to the Securities Intermediary and the Collateral
Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 9.02. <U>Additional Provisions Relating
to the Collateral Agent, the Collateral Administrator and the Securities Intermediary.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <U>Collateral Agent May Perform</U>. The
Collateral Agent shall from time to time take such action (at the written direction of the Administrative Agent or the Required
Lenders) for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, <I>provided</I>
that the Collateral Agent shall have no obligation to take any such action in the absence of such direction and shall have no obligation
to comply with any such direction if it reasonably believes that the same (1) is contrary to applicable law or (2) is reasonably
likely to subject the Collateral Agent to any loss, liability, cost or expense, unless the Administrative Agent or the Required
Lenders, as the case may be, issuing such instruction provide indemnity or security satisfactory to the Collateral Agent for payment
of same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">With respect to actions which are incidental
to the actions specifically delegated to the Collateral Agent hereunder, the Collateral Agent shall not be required to take any
such incidental action hereunder, but shall be required to act or to refrain from acting (and shall be fully protected in acting
or refraining from acting) upon the written direction of the Administrative Agent; <I>provided</I> that the Collateral Agent shall
not be required to take any action hereunder at the request of the Administrative Agent, the Required Lenders or otherwise if the
taking of such action, in the determination of the Collateral Agent, (1) is contrary to applicable law or (2) is reasonably likely
to subject the Collateral Agent to any loss, liability, cost or expense, unless the Administrative Agent or the Required Lenders,
as the case may be, issuing such instruction provide indemnity or security satisfactory to the Collateral Agent for payment of
same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If, in performing its duties under this Agreement,
the Collateral Agent is required to decide between alternative courses of action, the Collateral Agent may request written instructions
from the Administrative Agent as to the course of action desired by it. If the Collateral Agent does not receive such instructions
within five (5) Business Days after it has requested them, the Collateral Agent may, but shall be under no duty to, take or refrain
from taking any such courses of action and shall have no liability in connection therewith except as otherwise provided in this
Agreement. The Collateral Agent shall act in accordance with instructions received after such five (5) Business Day period except
to the extent it has already, in good faith, taken or committed itself to take, action inconsistent with such instructions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <U>Reasonable Care</U>. The Collateral
Agent is required to exercise reasonable care in the custody and preservation of any of the Collateral in its possession, <I>provided</I>
that the Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any of the Collateral
if it takes such action for that purpose as the Company reasonably requests at times other than upon the occurrence and during
the continuance of any Event of Default (and upon the occurrence and during the continuance of any Event of Default, the Collateral
Agent shall be deemed to have exercised reasonable care in its custody and preservation of any of the Collateral if it takes such
action for that purpose as the Administrative Agent reasonably requests), but failure of the Collateral Agent to comply with any
such request at any time shall not in itself be deemed a failure to exercise reasonable care. The Collateral Agent will not be
responsible for filing any financing or continuation statements or recording any documents or instruments in any public office
at any time or times or otherwise perfecting or maintaining the perfection of any liens thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <U>Collateral Agent Not Liable</U>. Except
to the extent arising from the gross negligence or willful misconduct of the Collateral Agent, the Collateral Agent shall not be
liable by reason of its compliance with the terms of this Agreement with respect to (1) the investment of funds held thereunder
in Eligible Investments (other than for losses attributable to the Collateral Agent's failure to make payments on investments issued
by the Collateral Agent, in its commercial capacity as principal obligor and not as collateral agent, in accordance with their
terms) or (2)&nbsp;losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity. It is
expressly agreed and acknowledged that the Collateral Agent is not guaranteeing performance of or assuming any liability for the
obligations of the other parties hereto or any parties to the Portfolio Investments or other Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) <U>Certain Rights and Obligations of the
Collateral Agent</U>. Without further consent or authorization from any Lenders, the Collateral Agent may execute any documents
or instruments necessary to release any lien encumbering any item of Collateral that is the subject of a sale or other disposition
of assets permitted by this Agreement or as otherwise permitted or required hereunder or to which the Required Lenders have otherwise
consented. Anything contained herein to the contrary notwithstanding, in the event of a foreclosure by the Collateral Agent on
any of the Collateral pursuant to a public or private sale, any Agent or Lender may be the purchaser of any or all of such Collateral
at any such sale and the Collateral Agent, as agent for and representative of the Lenders (but not any Lender in its individual
capacity unless the Required Lenders shall otherwise agree), shall be entitled, for the purpose of bidding and making settlement
or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of
the Secured Obligations as a credit on account of the purchase price for any collateral payable by the purchaser at such sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e) <U>Collateral Agent, Securities Intermediary
and Collateral Administrator Fees and Expenses</U>. The Company agrees to pay to the Collateral Agent, the Securities Intermediary
and the Collateral Administrator such fees as the Administrative Agent, the Collateral Agent, the Securities Intermediary, the
Collateral Administrator and the Portfolio Manager, may agree in writing, subject to the Priority of Payments. The Company further
agrees to pay to the Collateral Agent, the Securities Intermediary and the Collateral Administrator, or reimburse the Collateral
Agent, the Securities Intermediary and the Collateral Administrator for paying, reasonable and documented out-of-pocket expenses,
including attorney's fees, in connection with this Agreement and the transactions contemplated hereby, subject to the Priority
of Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f) <U>Execution by the Collateral Agent,
the Collateral Administrator and the Securities Intermediary</U>. The Collateral Agent, the Collateral Administrator and the Securities
Intermediary are executing this Agreement solely in their capacity as Collateral Agent, Collateral Administrator and Securities
Intermediary hereunder and in no event shall have any obligation to make any Advance, provide any Advance or perform any obligation
of the Administrative Agent or the Lenders hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g) <U>Reports by the Collateral Administrator</U>.
The Company hereby appoints U.S. Bank National Association as Collateral Administrator and directs the Collateral Administrator
to prepare the reports substantially in the form attached hereto as Exhibit B.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h) <U>Information Provided to Collateral
Agent, Collateral Administrator and Securities Intermediary</U>. Without limiting the generality of any terms of this Section,
the Collateral Agent, the Collateral Administrator and the Securities Intermediary shall not have liability for any failure, inability
or unwillingness on the part of the Portfolio Manager, the Administrative Agent, the Company or the Required Lenders to provide
accurate and complete information on a timely basis to the Collateral Agent, the Collateral Administrator or the Securities Intermediary,
as applicable, or otherwise on the part of any such party to comply with the terms of this Agreement, and shall have no liability
for any inaccuracy or error in the performance or observance on the Collateral Agent's, Collateral Administrator's or the Securities
Intermediary's, as applicable, part of any of its duties hereunder that is caused by or results from any such inaccurate, incomplete
or untimely information received by it, or other failure on the part of any such other party to comply with the terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i) <U>Instructions to Collateral Agent, Collateral
Administrator and Securities Intermediary</U>. The Collateral Agent, Collateral Administrator and Securities Intermediary (each
in their respective capacities) agree to accept and act upon instructions or directions pursuant to this Agreement or any other
related transaction document sent by unsecured email, facsimile transmission or other similar unsecured electronic methods, provided,
however, that any Person providing such instructions or directions shall provide to the Collateral Agent, the Collateral Administrator
or the Securities Intermediary, as applicable, an incumbency certificate listing authorized officers designated to provide such
instructions or directions, which incumbency certificate shall be amended whenever a person is added or deleted from the listing.
If such person elects to give the Collateral Agent, the Collateral Administrator or the Securities Intermediary, as applicable,
email or facsimile instructions (or instructions by a similar electronic method) and the Collateral Agent, the Collateral Administrator
or the Securities Intermediary, as applicable, in its discretion elects to act upon such instructions, the Collateral Agent's,
the Collateral Administrator's or the Securities Intermediary's, as applicable, reasonable understanding of such instructions shall
be deemed controlling. The Collateral Agent, the Collateral Administrator and the Securities Intermediary (each in their respective
capacities) shall not be liable for any losses, costs or expenses arising directly or indirectly from their reliance upon and compliance
with its reasonable understanding of such instructions notwithstanding such instructions conflicting with or being inconsistent
with a subsequent written instruction. Any person providing such instructions or directions agrees to assume all risks arising
out of the use of such electronic methods to submit instructions and directions to the Collateral Agent, the Collateral Administrator
or the Securities Intermediary, including without limitation the risk of the Collateral Agent, the Collateral Administrator or
the Securities Intermediary, as applicable, acting on unauthorized instructions, and the risk of interception and misuse by third
parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j) <U>Anti-Terrorism, Anti-Money Laundering</U>.
To help fight the funding of terrorism and money laundering activities, the Collateral Agent will obtain, verify and record information
that identifies individuals or entities that establish a relationship or open an account with the Collateral Agent, the Collateral
Administrator or the Securities Intermediary, as applicable. The Collateral Agent will ask for the name, address, tax identification
number and other information that will allow the Collateral Agent to identify the individual or entity who is establishing the
relationship or opening the account. The Collateral Agent may also ask for formation documents such as articles of incorporation,
an offering memorandum or other identifying documents to be provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE X<BR>
MISCELLANEOUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.01. <U>Lenders' Representations;
Non-Petition; Limited Recourse</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) Each Lender represents that it is a &quot;qualified
purchaser&quot; within the meaning of Section 2(a)(51) of the Investment Company Act of 1940, as amended</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) Each of the Collateral Agent, the Securities
Intermediary, the Collateral Administrator and the Portfolio Manager hereby agrees not to commence, or join in the commencement
of, any proceedings in any jurisdiction for the bankruptcy, winding-up or liquidation of the Company or any similar proceedings,
in each case prior to the date that is one year and one day (or if longer, any applicable preference period plus one day) after
the payment in full of all amounts owing to the parties hereto. The foregoing restrictions are a material inducement for the parties
hereto to enter into this Agreement and are an essential term of this Agreement. The Administrative Agent or the Company may seek
and obtain specific performance of such restrictions (including injunctive relief), including, without limitation, in any bankruptcy,
winding-up, liquidation or similar proceedings. The Company shall promptly object to the institution of any bankruptcy, winding-up,
liquidation or similar proceedings against it and take all necessary or advisable steps to cause the dismissal of any such proceeding;
provided that such obligation shall be subject to the availability of funds therefor. Nothing in this Section 10.01 shall limit
the right of any party hereto to file any claim or otherwise take any action with respect to any proceeding of the type described
in this Section that was instituted by the Company or against the Company by any Person other than a party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) Notwithstanding any other provision of
this Agreement, no recourse under any obligation, covenant or agreement of the Company or the Portfolio Manager contained in this
Agreement shall be had against any incorporator, stockholder, partner, officer, director, member, manager, employee or agent of
the Company, the Portfolio Manager or any of their respective Affiliates (solely by virtue of such capacity) by the enforcement
of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and
understood that this Agreement is solely a corporate obligation of the Company and (with respect to the express obligations of
the Portfolio Manager hereunder) the Portfolio Manager and that no personal liability whatever shall attach to or be incurred by
any incorporator, stockholder, officer, director, member, manager, employee or agent of the Company, the Portfolio Manager or any
of their respective Affiliates (solely by virtue of such capacity) or any of them under or by reason of any of the obligations,
covenants or agreements of the Company or the Portfolio Manager contained in this Agreement, or implied therefrom, and that any
and all personal liability for breaches by the Company or the Portfolio Manager of any of such obligations, covenants or agreements,
either at common law or at equity, or by statute, rule or regulation, of every such incorporator, stockholder, officer, director,
member, manager, employee or agent is hereby expressly waived as a condition of and in consideration for the execution of this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.02. <U>Notices</U>. All notices
and other communications in respect hereof (including, without limitation, any modifications hereof, or requests, waivers or consents
hereunder) to be given or made by a party hereto shall be in writing (including by electronic mail or other electronic messaging
system of .pdf or other similar files) to the other parties hereto at the addresses for notices specified on the Transaction Schedule
(or, as to any such party, at such other address as shall be designated by such party in a notice to each other party hereto).
All such notices and other communications shall be deemed to have been duly given when (a) transmitted by facsimile, (b) personally
delivered, (c) in the case of a mailed notice, upon receipt, or (d) in the case of notices and communications transmitted by electronic
mail or any other electronic messaging system, upon delivery, in each case given or addressed as aforesaid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.03. <U>No Waiver</U>. No failure
on the part of any party hereto to exercise and no delay in exercising, and no course of dealing with respect to, any right, power
or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power
or privilege under this Agreement preclude any other or further exercise thereof or the exercise of any other right, power or privilege.
The remedies provided herein are cumulative and not exclusive of any remedies provided by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.04. <U>Expenses; Indemnity;
Damage Waiver; Right of Setoff</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) The Company shall pay (1) all fees and
reasonable and documented out-of-pocket expenses incurred by the Agents, the Collateral Administrator, the Securities Intermediary
and their Related Parties, including the reasonable and documented fees, charges and disbursements of outside counsel for each
Agent, the Collateral Administrator and the Securities Intermediary, and such other local counsel as required for the Agents, the
Collateral Administrator and the Securities Intermediary, collectively, in connection with the preparation and administration of
this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether
or not the transactions contemplated hereby or thereby shall be consummated) and (2) all reasonable and documented out-of-pocket
expenses incurred by the Agents, the Collateral Administrator, the Securities Intermediary and the Lenders, including the fees,
charges and disbursements of outside counsel for each Agent, the Collateral Administrator, the Securities Intermediary and such
other local counsel as required for all of them, in connection herewith, including the enforcement or protection of their rights
in connection with this Agreement or any other Loan Document, including their rights under this Section, or in connection with
the Advances provided by them hereunder, including all such reasonable and documented out-of-pocket expenses incurred during any
workout, restructuring or negotiations in respect of such Advances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) The Company shall indemnify the Agents,
the Collateral Administrator, the Securities Intermediary, the Lenders and each Related Party of any of the foregoing persons (each
such person being called an &quot;<U>Indemnitee</U>&quot;), against, and hold each Indemnitee harmless from, any and all losses,
claims, damages, liabilities and related expenses, including the fees, charges and disbursements of outside counsel for each Indemnitee
and such other local counsel as required for any Indemnitees, incurred by or asserted against any Indemnitee arising out of, in
connection with, or as a result of (1)&nbsp;the execution or delivery of this Agreement or any other Loan Document or any agreement
or instrument contemplated thereby, the performance by the parties thereto of their respective obligations (including, without
limitation, any breach of any representation or warranty made by the Company or the Portfolio Manager hereunder or thereunder (for
the avoidance of doubt, after giving effect to any limitation included in any such representation or warranty relating to materiality
or causing a Material Adverse Effect)) or the exercise of the parties thereto of their respective rights or the consummation of
the transactions contemplated hereby or thereby, (2)&nbsp;any Advance or the use of the proceeds therefrom, or (3) any actual or
prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or
any other theory and regardless of whether any Indemnitee is a party thereto or is pursuing or defending any such action; <I>provided</I>
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities
or related expenses (i) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted
from the gross negligence, fraud, reckless disregard or willful misconduct of such Indemnitee or (ii) with respect to the Lenders,
relate to the performance of the Portfolio Investments. This Section 10.04(b) shall not apply with respect to Taxes other than
any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) To the extent permitted by Applicable
Law, neither the Company nor any Indemnitee shall assert, and each hereby waives, any claim against the Company or any Indemnitee,
as applicable, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual
damages) arising out of, in connection with, or as a result of, this Agreement or any agreement, instrument or transaction contemplated
hereby, any Advance or the use of the proceeds thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) If an Event of Default shall have occurred
and be continuing and the Advances then outstanding shall have been declared due and payable in accordance with Article VII, each
Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law,
to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other
obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Company against any of and
all the obligations of the Company now or hereafter existing under this Agreement held by such Lender, irrespective of whether
or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of
each Lender under this clause (d) are in addition to other rights and remedies (including other rights of setoff) which such Lender
may have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.05. <U>Amendments</U>. No
amendment, modification or waiver in respect of this Agreement will be effective unless in writing (including, without limitation,
a writing evidenced by a facsimile transmission or electronic mail) and executed by each of the Company, the Agents, the Collateral
Administrator, the Securities Intermediary the Required Lenders and the Portfolio Manager; <I>provided</I>, <I>however</I>, that
any amendment to this Agreement that the Administrative Agent determines in its commercially reasonable judgment is necessary to
effectuate the purposes of Section 1.04 hereof following the occurrence of a Market Value Event and which would not result in an
increase or decrease in the rights, duties or liabilities of the Portfolio Manager shall not be required to be executed by the
Portfolio Manager (other than any amendment or modification to the third through fifth paragraph of Section 1.04, which shall require
the written consent of the Portfolio Manager); <I>provided</I>, <I>further</I>, that the Administrative Agent may waive any of
the Eligibility Criteria and the requirements set forth in Schedule 3 or Schedule 4 in its sole discretion; <I>provided</I>, <I>further</I>,
that none of the Collateral Agent, the Collateral Administrator or the Securities Intermediary shall be required to execute any
amendment that affects its rights, duties, protections or immunities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.06. <U>Successors; Assignments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except
that the Company may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent
of the Portfolio Manager, the Administrative Agent and each Lender (and any attempted assignment or transfer by the Company without
such consent shall be null and void). If the Company or the Portfolio Manager request in writing that the Administrative Agent
consent to an assignment of the obligations of the Portfolio Manager hereunder or under the Portfolio Management Agreement, the
Administrative Agent shall use commercially reasonable efforts to respond to such request within ten (10) Business Days following
its receipt of such request. The Administrative Agent shall have no liability for any failure to respond to any such request. Except
as expressly set forth herein, nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person any
legal or equitable right, remedy or claim under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) Subject to the conditions set forth below,
any Lender may assign to any other Person, all or a portion of its rights and obligations under this Agreement (including all or
a portion of its Financing Commitment and the Advances at the time owing to it) with the prior written consent (such consent not
to be unreasonably withheld) of the Administrative Agent; <I>provided</I> that no consent of the Administrative Agent shall be
required for an assignment of any Financing Commitment to an assignee that is a Lender (or any Affiliate thereof) with a Financing
Commitment immediately prior to giving effect to such assignment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Assignments shall be subject to the following
additional conditions: (A) each partial assignment shall be made as an assignment of a proportionate part of all the assigning
Lender's rights and obligations under this Agreement and (B) the parties to each assignment shall execute and deliver to the Administrative
Agent an assignment and assumption agreement in form and substance acceptable to the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Subject to acceptance and recording thereof
below, from and after the effective date specified in each assignment and assumption the assignee thereunder shall be a party hereto
and, to the extent of the interest assigned by such assignment and assumption, have the rights and obligations of a Lender under
this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such assignment and assumption,
be released from its obligations under this Agreement (and, in the case of an assignment and assumption covering all of the assigning
Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto as a Lender but shall continue
to be entitled to the benefits of Sections 5.03 and&nbsp;10.04).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Administrative Agent, acting for this
purpose as an agent of the Company, shall maintain at one of its offices a copy of each assignment and assumption delivered to
it and a register for the recordation of the names and addresses of the Lenders, and the Financing Commitment of, and principal
amount of the Advances owing to, each Lender pursuant to the terms hereof from time to time (the &quot;<U>Register</U>&quot;).
The entries in the Register shall be conclusive absent manifest error, and the parties hereto shall treat each Person whose name
is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. The Register shall be available for inspection by the Company, any Lender (with respect to its own interests)
and the Portfolio Manager, at any reasonable time and from time to time upon reasonable prior notice. Upon its receipt of a duly
completed assignment and assumption executed by an assigning Lender and an assignee, the Administrative Agent shall accept such
assignment and assumption and record the information contained therein in the Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) Any Lender may, without the consent of
the Company or the Administrative Agent, sell participations to one or more banks or other entities (a &quot;<U>Lender Participant</U>&quot;)
in all or a portion of such Lender's rights and obligations under this Agreement (including all or a portion of its Financing Commitment
and the Advances owing to it); <I>provided</I> that (1)&nbsp;such Lender's obligations under this Agreement shall remain unchanged,
(2)&nbsp;such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (3)&nbsp;the
Company, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's
rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification
or waiver of any provision of this Agreement; <I>provided</I> that such agreement or instrument may provide that such Lender will
not, without the consent of the Lender Participant, agree to any Material Amendment that affects such Lender Participant. As used
herein, &quot;<U>Material Amendment</U>&quot; means any amendment, modification or supplement to this Agreement that (i) increases
the Financing Commitment of any Lender, (ii) reduces the principal amount of any Advance or reduces the rate of interest thereon,
or reduces any fees payable hereunder, (iii) postpones the scheduled date of payment of the principal amount of any Advance, or
any interest thereon, or any other amounts payable hereunder, or reduces the amount of, waives or excuses any such payment, or
postpones the scheduled date of expiration of any Financing Commitment, (iv) changes any provision in a manner that would alter
the pro rata sharing of payments required hereby, or (v) changes any of the provisions of this Section or the definition of &quot;Required
Lenders&quot; or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any
rights hereunder or make any determination or grant any consent hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender that sells a participation shall, acting solely for this purpose as an agent of the Company, maintain a register on which
it enters the name and address of each Lender Participant and the principal amounts (and stated interest) of each Lender Participant's
interest in the Advances or other obligations under this Agreement (the &quot;<U>Participant Register</U>&quot;); <I>provided</I>
that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of
any Lender Participant or any information relating to a Lender Participant's interest in any commitments, loans, letters of credit
or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish
that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United
States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender
shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes
of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity
as Administrative Agent) shall have no responsibility for maintaining a Participant Register. The Company agrees that each Participant
shall be entitled to the benefits of Sections 3.01(e)<I> </I>and 3.03 (subject to the requirements and limitations therein, including
the requirements under Section 3.03(f) (it being understood that the documentation required under Section 3.03(f) shall be delivered
to the Lender that sells the participation)) to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to paragraph (d) of this Section; <U>provided</U> that such Participant (A) agrees to be subject to the provisions of
Section 3.01(f) relating to replacement of Lenders as if it were an assignee under paragraph (b) of this Section 10.06; and (B)
shall not be entitled to receive any greater payment under Sections 3.01(e)<I> </I>and 3.03, with respect to any participation,
than the Lender that sells the participation would have been entitled to receive, except to the extent such entitlement to receive
a greater payment results from a Change in Law that occurs after the Lender or the Participant acquired the applicable participation.
Each Lender that sells a participation agrees, at the Company's request and expense, to use reasonable efforts to cooperate with
the Company to effectuate the replacement of Lenders provisions set forth in Section 3.01(f) with respect to any Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.07. <U>Governing Law; Submission
to Jurisdiction; Etc.</U><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <U>Governing Law</U>. This Agreement will
be governed by and construed in accordance with the law of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <U>Submission to Jurisdiction</U>. With
respect to any suit, action or proceedings relating to this Agreement (collectively, &quot;<U>Proceedings</U>&quot;), each party
hereto irrevocably (i)&nbsp;submits to the non-exclusive jurisdiction of the courts of the State of New York and the United States
District Court located in the Borough of Manhattan in New York City and (ii)&nbsp;waives any objection which it may have at any
time to the laying of venue of any Proceedings brought in any such court, waives any claim that such Proceedings have been brought
in an inconvenient forum and further waives the right to object, with respect to such Proceedings, that such court does not have
any jurisdiction over such party. Nothing in this Agreement precludes any party hereto from bringing Proceedings in any other jurisdiction,
nor will the bringing of Proceedings in any one or more jurisdictions preclude the bringing of Proceedings in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <U>Waiver of Jury Trial</U>. EACH OF THE
PARTIES HERETO AND THE ADMINISTRATIVE AGENT ON BEHALF OF THE FINANCING PROVIDERS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION
10.08. <U>Interest Rate Limitation</U> Notwithstanding anything herein to the contrary, if at any time the interest rate
applicable to any Advance, together with all fees, charges and other amounts which are treated as interest on such Advance
under Applicable Law (collectively the &quot;<U>Charges</U>&quot;), shall exceed the maximum lawful rate (the
&quot;<U>Maximum Rate</U>&quot;) which may be contracted for, charged, taken, received or reserved by the Lender holding such
Advance in accordance with Applicable Law, the rate of interest payable in respect of such Advance hereunder, together with
all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and
Charges that would have been payable in respect of such Advance but were not payable as a result of the operation of this
Section 10.08&nbsp;shall be cumulated and the interest and Charges payable to such Lender in respect of other Advances or
periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest
thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION
10.09. <U>PATRIOT Act</U> Each Lender and Agent that is subject to the requirements of the PATRIOT Act hereby notifies the
Company that pursuant to the requirements of the PATRIOT Act, it is required to obtain, verify and record information that
identifies the Company, which information includes the name and address of the Company and other information that will allow
such Lender or Agent to identify the Company in accordance with the PATRIOT Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.10. <U>Counterparts</U>. This
Agreement may be executed in any number of counterparts by facsimile or other written form of communication, each of which shall
be deemed to be an original as against the party whose signature appears thereon, and all of which shall together constitute one
and the same instrument.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.11. <U>Headings</U>. Article
and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement
and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -112.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 1in">SECTION 10.12. <U>Acknowledgement and
Consent to Bail-In of EEA Financial Institutions.</U> Notwithstanding anything to the contrary in this Agreement or in any other
agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender
that is an EEA Financial Institution arising under this Agreement may be subject to the Write-Down and Conversion Powers of an
EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a) the application of any Write-Down and
Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender
that is an EEA Financial Institution; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b) the effects of any Bail-In Action on
any such liability, including, if applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(1) a reduction in full or in part or cancellation
of any such liability;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(2) a conversion of all, or a portion of, such liability
into shares or other instruments of ownership in such EEA Financial Institution, its parent entity, or a bridge institution that
may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it
in lieu of any rights with respect to any such liability under this Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(3) the variation of the terms of such liability in
connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As used herein:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;<U>Bail-In Action</U>&quot; means
the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of
an EEA Financial Institution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;<U>Bail-In Legislation</U>&quot; means,
with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council
of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;<U>EEA Financial Institution</U>&quot;
means (a) any institution established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority,
(b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition,
or (c) any institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or
(b) of this definition and is subject to consolidated supervision with its parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;<U>EEA Member Country</U>&quot; means
any of the member states of the European Union, Iceland, Liechtenstein, and Norway.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;<U>EEA Resolution Authority</U>&quot;
means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country
(including any delegee) having responsibility for the resolution of any EEA Financial Institution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;<U>EU Bail-In Legislation Schedule</U>&quot;
means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from
time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&quot;<U>Write-Down and Conversion Powers</U>&quot;
means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from
time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described
in the EU Bail-In Legislation Schedule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>IN WITNESS WHEREOF</B>, the parties hereto
have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">34TH STREET FUNDING, LLC, as Company</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 3%">By</td>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid"><i>/s/ Michael A. Reisner</i></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Michael A. Reisner</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Co-President and Co-CEO</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2"><font style="text-transform: uppercase">C&#298;ON investment management, llc</font>, as Portfolio Manager</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By</td>
    <TD STYLE="border-bottom: Black 1pt solid"><i>/s/ Michael A. Reisner</i></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Michael A. Reisner</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Co-President and Co-CEO</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 3%">By</td>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%"><i>/s/ Louis Cerrotta</i></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Louis Cerrotta</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Executive Director</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">U.S. BANK NATIONAL ASSOCIATION, as Collateral Agent</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 3%">By</td>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%"><i>/s/ Gayle Filomia</i></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Gayle Filomia</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Vice President</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">U.S. BANK NATIONAL ASSOCIATION, as Securities Intermediary</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By</td>
    <TD STYLE="border-bottom: Black 1pt solid"><i>/s/ Gayle Filomia</i></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Gayle Filomia</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Vice President</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">U.S. BANK NATIONAL ASSOCIATION, as Collateral Administrator</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By</td>
    <TD STYLE="border-bottom: Black 1pt solid"><i>/s/ Gayle Filomia</i></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Gayle Filomia</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Vice President</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2"><U>The Lenders</U></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Lender</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By</td>
    <TD STYLE="border-bottom: Black 1pt solid"><i>/s/ Louis Cerrotta</i></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name: Louis Cerrotta</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title: Executive Director</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">SCHEDULE 1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Transaction Schedule</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 5%"><b>1.</b></td>
    <td style="width: 32%"><b>Lenders</b></td>
    <td style="width: 36%">&nbsp;</td>
    <td style="width: 27%"><b>Financing Commitment</b></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>Lender:</td>
    <TD STYLE="padding-right: 0.1in">JPMorgan Chase Bank, National Association</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S.$150,000,000, as reduced from time to time pursuant to Section
        4.07, available as follows:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Up to U.S.$125,000,000 may be funded as term Advances in accordance
        with the terms hereof; and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Up to U.S.$25,000,000 may be funded as revolving Advances in
        accordance with the terms hereof</P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 5%"><b>2.</b></td>
    <TD STYLE="width: 44%"><b>Scheduled Termination Date</b>:</td>
    <TD STYLE="width: 51%">August 23, 2020</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD><b>3.</b></td>
    <TD><b>Interest Rates</b></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Applicable Margin for Advances:</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to interest based on the LIBO Rate, 3.50% per annum
        (subject to increase in accordance with Section 3.01(b)).</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to interest based on the Base Rate, 3.50% per annum
        (subject to increase in accordance with Section 3.01(b)).</P></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD><b>4.</b></td>
    <TD><b>Account Numbers</b></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Custodial Account:</td>
    <TD>[*]&nbsp;&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Collection Account:</td>
    <TD>[*]&nbsp;&nbsp;&nbsp;&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>MV Cure Account:</td>
    <TD>[*]&nbsp;&nbsp;&nbsp;&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Unfunded Exposure Account:</td>
    <TD>[*]&nbsp;&nbsp;&nbsp;&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD><b>5.</b></td>
    <TD><b>Market Value Trigger</b>:</td>
    <TD>178.6%</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD><b>6.</b></td>
    <TD><b>Market Value Cure Trigger</b></td>
    <TD>192.3%</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD><b>7</b>.</td>
    <TD><b>Purchases of Restricted Securities</b></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Notwithstanding anything herein to the contrary, no Portfolio Investment may constitute, at the time of initial purchase, a Restricted Security.&nbsp;&nbsp;As used herein, &quot;<u>Restricted Security</u>&quot; means any security that forms part of a new issue of publicly or privately issued securities (a)&nbsp;with respect to which an Affiliate of any Lender that is a &quot;broker&quot; or a &quot;dealer&quot;, within the meaning of the Securities Exchange Act of 1934, participated in the distribution as a member of a selling syndicate or group within 30 days of the proposed purchase by the Company and (b)&nbsp;which the Company proposes to purchase from any such Affiliate of any Lender.&nbsp;&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td colspan="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><u>Addresses for Notices</u></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <td style="width: 26%"><b>The Company</b>:</td>
    <td style="width: 32%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">34th Street Funding, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3 Park Avenue, 36th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016<br>
        </P></td>
    <td style="width: 42%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Credit Team</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: <font style="font-family: Times New Roman, Times, Serif">CIONAgentNotices@iconinvestments.com</font></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><b>The Portfolio Manager</b>:</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="text-transform: uppercase">C&#298;ON</font> Investment
        Management, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3 Park Avenue, 36th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10016<br>
        </P></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Keith Franz</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: Kfranz@iconinvestments.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><b>The Administrative Agent</b>:</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o JPMorgan Services Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">500 Stanton Christiana Rd., 3rd Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newark, Delaware 19713</P></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Ryan Hanks</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: (302) 634-2030</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>with a copy to</u></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">383 Madison Ave.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10179</P></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Louis Cerrotta</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: 212-622-7092</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">louis.cerrotta@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">larry.w.wise@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ji.Han@jpmchase.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ruchira.patel@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jason.E.Adler@jpmchase.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Allison.Shapiro@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ravi.d.Sarawgi@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Arthur.Flynn@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ct.financing.requests@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">de_custom_business@jpmorgan.com</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jacob.s.pollack@jpmorgan.com&nbsp;</P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><b>The Collateral Agent</b>:</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bank National Association</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street, 3rd Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Gayle Filomia</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: 671-603-6499</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: <font style="font-size: 10pt"><u>gayle.filomia@usbank.com</u></font></P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><b>The Securities Intermediary</b>:</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bank National Association</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street, 3rd Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Gayle Filomia</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: 671-603-6499</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: <font style="font-size: 10pt"><u>gayle.filomia@usbank.com</u></font></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 26%"><b>The Collateral Administrator</b>:</td>
    <td style="width: 32%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bank National Association</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street, 3rd Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P></td>
    <td style="width: 42%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Gayle Filomia</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: 671-603-6499</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: <font style="font-size: 10pt"><u>gayle.filomia@usbank.com</u></font></P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><b>JPMCB</b>:</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o JPMorgan Services Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">500 Stanton Christiana Rd., 3rd Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newark, Delaware 19713</P></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Robert Nichols</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Facsimile: (302) 634-1092</P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><u>with a copy to</u>:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">383 Madison Ave.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10179</P></td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Louis Cerrotta</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: 212-622-7092</P></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><b>Each other Lender</b>:</td>
    <td>The address (or facsimile number or electronic mail address) provided by it to the Administrative Agent.</td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">SCHEDULE 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Contents of Notices of Acquisition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Notice of Acquisition shall include the following information
for the related Portfolio Investment(s):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Administrative Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o JPMorgan Services Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">500 Stanton Christiana Rd., 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Ryan Hanks</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 6%"><font style="font-size: 10pt">Email:</font></td>
    <TD STYLE="width: 94%"><font style="font-size: 10pt">ryan.j.hanks@jpmorgan.com</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Administrative Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">383 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10179</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Louis Cerrotta</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 6%">Email:</td>
    <TD STYLE="width: 94%">louis.cerrotta@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>larry.w.wise@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Ji.Han@jpmchase.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>ruchira.patel@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Jason.E.Adler@jpmchase.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Allison.Shapiro@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Ravi.d.Sarawgi@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Arthur.Flynn@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>ct.financing.requests@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>de_custom_business@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Jacob.s.pollack@jpmorgan.com</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Lender</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o JPMorgan Services Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">500 Stanton Christiana Rd., 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newark, Delaware 19713</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Ryan Hanks</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bank National Association, , as Collateral Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bank National Association, as Collateral Administrator</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Reference is hereby made to the Loan and
Security Agreement, dated as of August 26, 2016 (as amended, the &quot;<U>Agreement</U>&quot;), among 34th Street Funding, LLC,
as borrower (the &quot;<U>Company</U>&quot;), JPMorgan Chase Bank, National Association, as administrative agent (the &quot;<U>Administrative
Agent</U>&quot;), <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC, as portfolio manager (the
&quot;<U>Portfolio Manager</U>&quot;), the lenders party thereto and the collateral agent and securities intermediary party thereto.
Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given such terms in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Agreement, the Portfolio
Manager hereby [requests approval for the Company to acquire][notifies the Administrative Agent of the Company's intention to acquire]
the following Portfolio Investment(s):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<tr style="vertical-align: top; background-color: #CCCCCC">
    <TD NOWRAP STYLE="width: 7%; border: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Obligor</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Identifier<br>
    (LoanX)</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Tranche</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Type&nbsp;(1st<br>
    lien,&nbsp;2nd<br>
    lien)</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Notional</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Maturity<br>
    Date</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Fixed</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Spread</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">LIBOR<br>
    Floor</FONT></td>
    <TD NOWRAP STYLE="width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Price</FONT></td>
    <TD NOWRAP STYLE="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Moody's&nbsp;Industry<br>
    Classification<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT></FONT></td>
    <TD NOWRAP STYLE="width: 19%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">Proposed<br>
    Settlement&nbsp;Date</FONT></td></tr>
<TR STYLE="vertical-align: top; font-size: 8pt">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td></tr>
<TR STYLE="vertical-align: top; font-size: 8pt">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 2pt; font-size: 8pt; padding-right: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To the extent available, we have included
herewith (1) the material underlying instruments (including the collateral and security documents) relating to each such Portfolio
Investment, (2) audited financial statement for the previous most recently ended three years of the obligor of each such Portfolio
Investment, (3) quarterly statements for the previous most recently ended eight fiscal quarters of the obligor of each such Portfolio
Investment, (4) any appraisal or valuation reports conducted by third parties in connection with the proposed investment by the
Company, (5) applicable &quot;proof of existence&quot; details (if requested by the Administrative Agent) and (6) the ratio of
indebtedness to EBITDA as calculated by the Portfolio Manager. The Portfolio Manager acknowledges that it will provide such other
information from time to time reasonably requested by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>
Per Schedule 7 of the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We hereby certify that all conditions to
the Purchase of such Portfolio Investment(s) set forth in Section 1.03 of the Agreement are satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Very truly yours,</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2"><font style="text-transform: uppercase">C&#298;ON INvestment Management, LLC</font>, as Portfolio Manager</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 3%">By</td>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name:</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title:</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">SCHEDULE 3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Eligibility Criteria</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD>Such obligation is a Loan or a debt security and is
not a Synthetic Security, a Zero-Coupon Security, a Structured Finance Obligation, a Participation Interest (other than Initial
Portfolio Investments), a Revolving Loan, a Mezzanine Obligation (or, for the avoidance of doubt, any other unsecured obligation
of an obligor) or a Letter of Credit.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD>Except in the case of a Delayed Funding Term Loan,
such obligation does not require the making of any future advance or payment by the Company to the issuer thereof or any related
counterparty.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD>Such obligation is eligible to be entered into by,
sold or assigned to the Company and pledged to the Collateral Agent.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD>Such obligation is denominated and payable in U.S.
dollars and purchased at a price that is at least 80% of the par amount of such obligation.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD>Such obligation is issued by a company organized in
an Eligible Jurisdiction.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">6.</TD><TD>It is an obligation upon which no payments are subject
to deduction or withholding for or on account of any withholding Taxes imposed by any jurisdiction unless the related obligor
is required to make &quot;gross-up&quot; payments that cover the full amount of any such withholding Taxes (subject to customary
conditions to such payments which the Company (or the Portfolio Manager on behalf of the Company) in its good faith reasonable
judgment expects to be satisfied); <I>provided</I> that this clause 6 shall not apply to commitment fees and other similar fees
associated with a Delayed Funding Term Loan.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">7.</TD><TD>Such obligation is not subject to an event of default
(as defined in the underlying instruments for such obligation) in accordance with its terms (including the terms of its underlying
instruments after giving effect to any grace and/or cure period set forth in the related loan agreement, but not to exceed five
(5) days) and no Indebtedness of the obligor thereon ranking <I>pari passu</I> with or senior to such obligation is in default
with respect to the payment of principal or interest for which the lenders for such <I>pari passu</I> Indebtedness have elected
to accelerate such Indebtedness, which such default would trigger a default under the related loan agreement (after giving effect
to any grace and/or cure period set forth in the related loan agreement, but not to exceed five (5) days) (a &quot;<U>Defaulted
Obligation</U>&quot;).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">8.</TD><TD>The timely repayment of such obligation is not subject
to non-credit-related risk as determined by the Portfolio Manager in its good faith and reasonable judgment.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">9.</TD><TD>It is not at the time of purchase or commitment to
purchase the subject of an offer other than an offer pursuant to the terms of which the offeror offers to acquire a debt obligation
in exchange for consideration consisting solely of cash in an amount equal to or greater than the full face amount of such debt
obligation plus any accrued and unpaid interest.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">10.</TD><TD>Such obligation is not an equity security and does
not provide, on the date of acquisition, for conversion or exchange at any time over its life into an equity security.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">11.</TD><TD>Such obligation provides for periodic payments of
interest thereon in cash at least semi-annually.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">12.</TD><TD>Such obligation will not cause the Company to be required
to register as an investment company under the Investment Company Act of 1940, as amended.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following capitalized terms used in
this Schedule 3 shall have the meanings set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&quot;<U>Eligible Jurisdictions</U>&quot;
means the United States and Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&quot;<U>Letter
of Credit</U>&quot; means a</FONT> facility whereby (i) a fronting bank (&quot;LOC Agent Bank&quot;) issues or will issue a letter
of credit (&quot;LC&quot;) for or on behalf of a borrower pursuant to an underlying instrument, (ii) if the LC is drawn upon, and
the borrower does not reimburse the LOC Agent Bank, the lender/participant is obligated to fund its portion of the facility and
(iii) the LOC Agent Bank passes on (in whole or in part) the fees and any other amounts it receives for providing the LC to the
lender/participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&quot;<U>Structured Finance Obligation</U>&quot;
means any obligation issued by a special purpose vehicle and secured directly by, referenced to, or representing ownership of,
a pool of receivables or other financial assets of any obligor, including collateralized debt obligations and mortgage-backed securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&quot;<U>Synthetic
Security</U>&quot; means a security or swap transaction, other than a participation interest or a letter of credit, that has payments
associated with either payments of interest on and/or principal of a reference obligation or the credit performance of a reference
obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&quot;<U>Zero-Coupon Security</U>&quot;
means any debt security that by its terms (a) does not bear interest for all or part of the remaining period that it is outstanding
or (b) pays interest only at its stated maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">SCHEDULE 4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Concentration Limitations</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The &quot;<U>Concentration Limitations</U>&quot; shall be satisfied
on any date of determination if, in the aggregate, the Portfolio Investments owned (or in relation to a proposed purchase of a
Portfolio Investment, proposed to be owned) by the Company comply with all the requirements set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD>Not more than U.S.$16,670,000 aggregate funded principal
amount and Unfunded Exposure Amount, collateralized or uncollateralized, of Portfolio Investments may be issued by a single obligor
and its affiliates; <I>provided</I> that Portfolio Investments issued by up to two obligors and their respective affiliates may
constitute up to an aggregate funded principal amount and Unfunded Exposure Amount, collateralized or uncollateralized, equal
to U.S.$25,000,000.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD>Not less than 50% of the Collateral Principal Amount
may consist of cash, Eligible Investments representing Principal Proceeds and Senior Secured Loans (funded and unfunded).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD>Not more than 20% of the Collateral Principal Amount
may consist of Portfolio Investments (funded and unfunded) whose obligors are organized in Canada.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD>Not more than 20% of the Collateral Principal Amount
may consist of Portfolio Investments (funded and unfunded) that are issued by obligors that belong to the same Moody's Industry
Classification. <FONT STYLE="font-family: Times New Roman, Times, Serif">As used herein, &quot;<U>Moody's Industry Classifications</U>&quot;
means the industry classifications set forth in Schedule 7 hereto, as such industry classifications shall be updated at the option
of the Portfolio Manager (with the consent of the Administrative Agent) if Moody's publishes revised industry classifications.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD>The Unfunded Exposure Amount, collateralized or uncollateralized,
shall not exceed 5% of the Collateral Principal Amount.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SCHEDULE 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Portfolio Investments</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[RESERVED]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">SCHEDULE 6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Participation Interests</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[RESERVED]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">SCHEDULE 7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD NOWRAP COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">Moody's Industry Classifications</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 25%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Industry</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Code</P></td>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 73%; text-align: left; vertical-align: bottom; border-bottom: Black 1pt solid">Description</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">1</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Aerospace &amp; Defense</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">2</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Automotive</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">3</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Banking, Finance, Insurance &amp; Real Estate</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">4</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Beverage, Food &amp; Tobacco</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">5</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Capital Equipment</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">6</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Chemicals, Plastics &amp; Rubber</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">7</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Construction &amp; Building</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">8</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Consumer goods:&nbsp; Durable</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">9</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Consumer goods:&nbsp; Non-durable</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">10</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Containers, Packaging &amp; Glass</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">11</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Energy:&nbsp; Electricity</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">12</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Energy:&nbsp; Oil &amp; Gas</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">13</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Environmental Industries</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">14</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Forest Products &amp; Paper</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">15</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Healthcare &amp; Pharmaceuticals</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">16</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>High Tech Industries</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">17</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Hotel, Gaming &amp; Leisure</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">18</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Media: Advertising, Printing &amp; Publishing</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">19</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Media:&nbsp; Broadcasting &amp; Subscription</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">20</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Media:&nbsp; Diversified &amp; Production</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">21</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Metals &amp; Mining</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">22</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Retail</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">23</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Services:&nbsp; Business</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">24</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Services:&nbsp; Consumer</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">25</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Sovereign &amp; Public Finance</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">26</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Telecommunications</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">27</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Transportation:&nbsp; Cargo</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">28</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Transportation:&nbsp; Consumer</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">29</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Utilities:&nbsp; Electric</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">30</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Utilities:&nbsp; Oil &amp; Gas</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">31</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Utilities:&nbsp; Water</td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="text-align: right">32</td>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Wholesale</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXHIBIT A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form of Request for Advance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Administrative Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o JPMorgan Services Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">500 Stanton Christiana Rd., 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Ryan Hanks</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Administrative Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">383 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10179</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Louis Cerrotta</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 6%">Email:</td>
    <TD STYLE="width: 94%">louis.cerrotta@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>larry.w.wise@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Ji.Han@jpmchase.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>ruchira.patel@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Jason.E.Adler@jpmchase.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Allison.Shapiro@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Ravi.d.Sarawgi@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Arthur.Flynn@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>ct.financing.requests@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>de_custom_business@jpmorgan.com</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Jacob.s.pollack@jpmorgan.com</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JPMorgan Chase Bank, National Association,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as Lender</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o JPMorgan Services Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">500 Stanton Christiana Rd., 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newark, Delaware 19713</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Robert Nichols</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bank National Association, , as Collateral Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bank National Association, as Collateral Administrator</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Boston, Massachusetts 02110</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Reference is hereby made to the Loan and Security
Agreement, dated as of August 26, 2016 (as amended, the &quot;<U>Agreement</U>&quot;), among 34th Street Funding, LLC, as borrower
(the &quot;<U>Company</U>&quot;), JPMorgan Chase Bank, National Association, as administrative agent (the &quot;<U>Administrative
Agent</U>&quot;), <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC, as portfolio manager (the
&quot;<U>Portfolio Manager</U>&quot;), the lenders party thereto, and the collateral agent and securities intermediary party thereto.
Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given such terms in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Pursuant to the Agreement, you are hereby
notified of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby requests an Advance under Section 2.03 of the Agreement to be funded on [____________].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
aggregate amount of the Advance requested hereby is U.S.$[_________].<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
proposed purchases (if any) relating to this request are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid">Security</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid">Par</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid">Price</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 31%; border-bottom: Black 1pt solid">Purchased Interest (if any)</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">We hereby certify that all conditions to
the Purchase of such Portfolio Investment(s) set forth in Section 1.03 of the Agreement have been satisfied or waived as of the
related Trade Date (and shall be satisfied or waived as of the related Settlement Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Very truly yours,</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">34th Street Funding, LLC</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 3%">By</td>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Name:</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="2">Title:</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT>
Note: The requested Financing shall be in an amount such that, after giving effect thereto and the related purchase of the applicable
Portfolio Investment(s), the Borrowing Base Test is satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXHIBIT B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form of Reports</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[RESERVED]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXHIBIT C</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORMS OF U.S. TAX COMPLIANCE CERTIFICATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT C-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>U.S. TAX COMPLIANCE CERTIFICATE</B><BR>
<B>(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is hereby
made to the Loan and Security Agreement dated as of August 26, 2016 (as amended, restated, replaced, supplemented or otherwise
modified from time to time, the &quot;<B><U>Loan and Security Agreement</U></B>&quot;), among 34th Street Funding, LLC, as borrower
(the &quot;<U>Company</U>&quot;); <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC (the &quot;<U>Portfolio
Manager</U>&quot;); the Lenders party hereto; the Collateral Agent party hereto (in such capacity, the &quot;<U>Collateral Agent</U>&quot;);
the Collateral Administrator party hereto (in such capacity, the &quot;<U>Collateral Administrator</U>&quot;); the Securities Intermediary
party hereto (in such capacity, the &quot;<U>Securities Intermediary</U>&quot;); and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
as administrative agent for the Lenders hereunder (in such capacity, the &quot;<U>Administrative Agent</U>&quot;). Capitalized
terms used but not defined herein shall have the meanings given to them in the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the provisions
of <U>Section 3.03(f)(ii)</U> of the Loan and Security Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the Advance(s) in respect of which it is providing this certificate, (ii) it is not a &quot;bank&quot;
within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a &quot;10 percent shareholder&quot; of the Company within
the meaning of Section 881(c)(3)(B) of the Code, and (iv) it is not a &quot;controlled foreign corporation&quot; related to the
Company as described in Section 881(c)(3)(C) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned has
furnished Administrative Agent and the Company with a certificate of its non-U.S. Person status on IRS Form W-8BEN or W-8BEN-E
(or an applicable successor form). By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform Administrative Agent and the Company, and (2) the undersigned
shall have at all times furnished Administrative Agent and the Company with a properly completed and currently effective certificate
in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td colspan="2">[NAME OF LENDER]</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 4%">By:</td>
    <TD STYLE="width: 36%; border-bottom: Black 1pt solid">&nbsp;</td>
    <TD STYLE="width: 60%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Name:</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: ________ __, 20[ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT C-2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>U.S. TAX COMPLIANCE CERTIFICATE</B><BR>
<B>(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax</B><BR>
<B>Purposes)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is hereby
made to the Loan and Security Agreement dated as of August 26, 2016 (as amended, restated, replaced, supplemented or otherwise
modified from time to time, the &quot;<B><U>Loan and Security Agreement</U></B>&quot;), among 34th Street Funding, LLC, as borrower
(the &quot;<U>Company</U>&quot;); <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC (the &quot;<U>Portfolio
Manager</U>&quot;); the Lenders party hereto; the Collateral Agent party hereto (in such capacity, the &quot;<U>Collateral Agent</U>&quot;);
the Collateral Administrator party hereto (in such capacity, the &quot;<U>Collateral Administrator</U>&quot;); the Securities Intermediary
party hereto (in such capacity, the &quot;<U>Securities Intermediary</U>&quot;); and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
as administrative agent for the Lenders hereunder (in such capacity, the &quot;<U>Administrative Agent</U>&quot;). Capitalized
terms used but not defined herein shall have the meanings given to them in the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the provisions
of <U>Section 3.03(f)(ii)</U> of the Loan and Security Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a &quot;bank&quot;
within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a &quot;10 percent shareholder&quot; of the Company within
the meaning of Section 881(c)(3)(B) of the Code, and (iv) it is not a &quot;controlled foreign corporation&quot; related to the
Company as described in Section 881(c)(3)(C) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned has
furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8ECI, W-8BEN or W-8BEN-E (or
an applicable successor form). By executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all
times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which
each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td colspan="2">[NAME OF PARTICIPANT]</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 4%">By:</td>
    <TD STYLE="border-bottom: Black 1pt solid; width: 36%">&nbsp;</td>
    <TD STYLE="width: 60%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Name:</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: ________ __, 20[ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT C-3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>U.S. TAX COMPLIANCE CERTIFICATE</B><BR>
<B>(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is hereby
made to the Loan and Security Agreement dated as of August 26, 2016 (as amended, restated, replaced, supplemented or otherwise
modified from time to time, the &quot;<B><U>Loan and Security Agreement</U></B>&quot;), among 34th Street Funding, LLC, as borrower
(the &quot;<U>Company</U>&quot;); <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC (the &quot;<U>Portfolio
Manager</U>&quot;); the Lenders party hereto; the Collateral Agent party hereto (in such capacity, the &quot;<U>Collateral Agent</U>&quot;);
the Collateral Administrator party hereto (in such capacity, the &quot;<U>Collateral Administrator</U>&quot;); the Securities Intermediary
party hereto (in such capacity, the &quot;<U>Securities Intermediary</U>&quot;); and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
as administrative agent for the Lenders hereunder (in such capacity, the &quot;<U>Administrative Agent</U>&quot;). Capitalized
terms used but not defined herein shall have the meanings given to them in the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the provisions
of <U>Section 3.03(f)(ii)</U> of the Loan and Security Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are
the sole beneficial owners of such participation, (iii) with respect to such participation, neither the undersigned nor any of
its direct or indirect partners/members is a &quot;bank&quot; extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect
partners/members is a &quot;10 percent shareholder&quot; of the Company within the meaning of Section 881(c)(3)(B) the Code, and
(v) none of its direct or indirect partners/members is a &quot;controlled foreign corporation&quot; related to the Company as described
in Section 881(c)(3)(C) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned has
furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members
that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E (or an applicable successor form), or (ii)
an IRS Form W-8IMY accompanied by an IRS Form W-8ECI, W-8BEN or W-8BEN-E (or an applicable successor form) from each of such partner's/member's
beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that
(1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender, and (2) the
undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either
the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td colspan="2">[NAME OF PARTICIPANT]</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 4%">By:</td>
    <TD STYLE="border-bottom: Black 1pt solid; width: 36%">&nbsp;</td>
    <TD STYLE="width: 60%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Name:</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: ________ __, 20[ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT C-4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>U.S. TAX COMPLIANCE CERTIFICATE</B><BR>
<B>(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is hereby
made to the Loan and Security Agreement dated as of August 26, 2016 (as amended, restated, replaced, supplemented or otherwise
modified from time to time, the &quot;<B><U>Loan and Security Agreement</U></B>&quot;), among 34th Street Funding, LLC, as borrower
(the &quot;<U>Company</U>&quot;); <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC (the &quot;<U>Portfolio
Manager</U>&quot;); the Lenders party hereto; the Collateral Agent party hereto (in such capacity, the &quot;<U>Collateral Agent</U>&quot;);
the Collateral Administrator party hereto (in such capacity, the &quot;<U>Collateral Administrator</U>&quot;); the Securities Intermediary
party hereto (in such capacity, the &quot;<U>Securities Intermediary</U>&quot;); and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
as administrative agent for the Lenders hereunder (in such capacity, the &quot;<U>Administrative Agent</U>&quot;). Capitalized
terms used but not defined herein shall have the meanings given to them in the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the provisions
of <U>Section 3.03(f)(ii)</U> of the Loan and Security Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the Advance(s) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are
the sole beneficial owners of such Advance(s), (iii) with respect to the extension of credit pursuant to the Loan and Security
Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a &quot;bank&quot;
extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a &quot;10 percent shareholder&quot;
of the Company within the meaning of Section 881(c)(3)(B) of the Code, and (v) none of its direct or indirect partners/members
is a &quot;controlled foreign corporation&quot; related to the Company as described in Section 881(c)(3)(C) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned has
furnished Administrative Agent and the Company with IRS Form W-8IMY accompanied by one of the following forms from each of its
partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E (or an applicable successor
form), or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8ECI, W-8BEN or W-8BEN-E (or an applicable successor form) from
each of such partner's/member's beneficial owners that is claiming the portfolio interest exemption. By executing this certificate,
the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform
Administrative Agent and the Company, and (2) the undersigned shall have at all times furnished Administrative Agent and the Company
with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to
the undersigned, or in either of the two calendar years preceding such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td colspan="2" style="text-align: justify">[NAME OF LENDER]</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td colspan="2" style="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 4%">By:</td>
    <TD STYLE="border-bottom: Black 1pt solid; width: 36%">&nbsp;</td>
    <TD STYLE="width: 60%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Name:</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: ________ __, 20[ ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v448161_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-weight: normal">EXECUTION
VERSION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated August 26,&nbsp;2016</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Sale and Contribution Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">between</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>34TH STREET FUNDING, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">as the Transferee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>C&#298;ON INVESTMENT CORPORATION,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">as the Transferor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Table of Contents</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top"><B>&nbsp;</B></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><B>Page</B></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="text-transform: uppercase">Article I DEFINITIONS</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="text-transform: uppercase">2</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; width: 15%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 75%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 1.01</TD>
    <TD STYLE="vertical-align: top">General</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 1.02</TD>
    <TD STYLE="vertical-align: top">Specific Terms</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 1.03</TD>
    <TD STYLE="vertical-align: top">Other Terms</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 1.04</TD>
    <TD STYLE="vertical-align: top">Computation of Time Periods</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 1.05</TD>
    <TD STYLE="vertical-align: top">Certain References</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="text-transform: uppercase">Article II TRANSFERS OF THE PORTFOLIO INVESTMENTS</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="text-transform: uppercase">3</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 2.01</TD>
    <TD STYLE="vertical-align: top">Contribution of Portfolio Investments on the Initial Transfer Date</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 2.02</TD>
    <TD STYLE="vertical-align: top">Transfer of Portfolio Investments on Subsequent Transfer Date</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 2.03</TD>
    <TD STYLE="vertical-align: top">Nature of the Transfers</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="text-transform: uppercase">Article III CONDITIONS OF TRANSFER</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="text-transform: uppercase">5</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 3.01</TD>
    <TD STYLE="vertical-align: top">Conditions Precedent to Effectiveness</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 3.02</TD>
    <TD STYLE="vertical-align: top">Conditions to all Transfers</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="text-transform: uppercase">Article IV REPRESENTATIONS AND WARRANTIES</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="text-transform: uppercase">6</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.01</TD>
    <TD STYLE="vertical-align: top">Representations and Warranties of the Transferor</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.02</TD>
    <TD STYLE="vertical-align: top">Representations and Warranties of the Transferee</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="text-transform: uppercase">Article V Covenants of Transferee</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="text-transform: uppercase">10</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 5.01</TD>
    <TD STYLE="vertical-align: top">Affirmative Covenants</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 5.02</TD>
    <TD STYLE="vertical-align: top">Negative Covenants of the Transferor</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="text-transform: uppercase">Article VI Indemnification</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="text-transform: uppercase">12</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="text-transform: uppercase">Article VII MISCELLANEOUS</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="text-transform: uppercase">12</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.01</TD>
    <TD STYLE="vertical-align: top">Amendments; Limited Agency</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.02</TD>
    <TD STYLE="vertical-align: top">Waivers; Cumulative Remedies</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.03</TD>
    <TD STYLE="vertical-align: top">Notices</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.04</TD>
    <TD STYLE="vertical-align: top">Severability of Provisions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.05</TD>
    <TD STYLE="vertical-align: top">Governing Law; Jury Waiver</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.06</TD>
    <TD STYLE="vertical-align: top">Counterparts</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.07</TD>
    <TD STYLE="vertical-align: top">Bankruptcy Non-Petition and Limited Recourse; Claims</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.08</TD>
    <TD STYLE="vertical-align: top">Binding Effect; Assignability</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.09</TD>
    <TD STYLE="vertical-align: top">Headings and Exhibits</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.10</TD>
    <TD STYLE="vertical-align: top">Further Assurances</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">14</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-transform: uppercase; text-indent: -63pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-transform: uppercase; text-indent: -63pt">SCHEDULES
AND EXHIBITS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">Schedule 4.01(h)</TD>
    <TD STYLE="width: 3%">&mdash;</TD>
    <TD STYLE="width: 82%">Location of Records, Name of Transferor and Jurisdiction of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exhibit A</TD>
    <TD>&mdash;</TD>
    <TD>Form of Assignment</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SALE AND CONTRIBUTION AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS SALE AND CONTRIBUTION
AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;) is entered into as of August 26, 2016, by and between C&#298;ON INVESTMENT CORPORATION,
a Maryland corporation (the &ldquo;<U>Transferor</U>&rdquo;) and 34TH STREET FUNDING, LLC, a Delaware limited liability company
(the &ldquo;<U>Transferee</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>WITNESSETH</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, as of the
date hereof, all of the limited liability company interests in the Transferee remain unissued;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, on the date
hereof, the Transferor and the Transferee have entered into that certain &ldquo;LSTA Master Participation Agreement,&rdquo; together
with the &ldquo;LSTA Standard Terms and Conditions for Participation Agreement for Par/Near Par Trades,&rdquo; each published by
The Loan Syndications and Trading Association as of April 24, 2014 (the &ldquo;<U>Master Participation Agreement</U>&rdquo;), pursuant
to which the Transferee will purchase an undivided 100% participation interest in and to the Loans, the Commitments (if any) and
the Transferred Rights (each as defined in the Master Participation Agreement) (collectively, the &ldquo;<U>Initial Transferred
Assets</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in exchange
for one hundred percent (100%) of the Common Membership Interest of the Transferee and the cash purchase price specified for the
Initial Transferred Assets under the Master Participation Agreement, the Transferor desires to contribute, transfer, bargain, grant,
assign or otherwise convey to the Transferee all of the Transferor&rsquo;s right, title, interest in, to and under the Initial
Transferred Assets, on the terms and subject to the conditions provided herein and under the Master Participation Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Transferee
desires to accept as a capital contribution all of the Transferor&rsquo;s right, title, interest in, to and under the Initial Portfolio
Investments, on the terms and subject to the conditions provided herein, and intends to assume all of the Transferor&rsquo;s obligations
under the Initial Portfolio Investments upon elevation thereof to full assignment as provided in the Master Participation Agreement
and to issue one hundred percent (100%) of its Common Membership Interest to the Transferor in consideration thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, from time
to time after the date hereof, the Transferor may contribute, transfer, bargain, grant, assign or otherwise convey to the Transferee
all of the Transferor&rsquo;s right, title, interest in, to and under Portfolio Investments (other than the Initial Portfolio Investments)
on the terms and subject to the conditions provided herein; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Transferor
will derive substantial direct and indirect benefit from the Contribution under this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the premises and the mutual agreements hereinafter contained, and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the Transferee and the Transferor, intending to be legally bound, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>DEFINITIONS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U></B>.
The specific terms defined in this Article include the plural as well as the singular. Words herein importing a gender include
the other gender. References herein to &ldquo;writing&rdquo; include printing, typing, lithography and other means of reproducing
words in visible form. References to agreements and other contractual instruments include all subsequent amendments thereto or
changes therein entered into in accordance with their respective terms and not prohibited by this Agreement or the Loan and Security
Agreement (as hereinafter defined). References herein to Persons include their successors and assigns permitted hereunder or under
the Loan and Security Agreement. The terms &ldquo;include&rdquo; or &ldquo;including&rdquo; mean &ldquo;include without limitation&rdquo;
or &ldquo;including without limitation.&rdquo; The words &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo;
and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision,
and Article, Section, Schedule and Exhibit references, unless otherwise specified, refer to Articles and Sections of and Schedules
and Exhibits to this Agreement. References to any applicable law means such applicable law as amended, modified, codified, replaced
or reenacted, in whole or in part, and in effect from time to time, including rules and regulations promulgated thereunder, and
reference to any Section or other provision of any applicable law means that provision of such applicable law from time to time
in effect and constituting the substantive amendment, modification, codification, replacement or reenactment of such Section or
other provision. Capitalized terms used herein but not defined herein shall have the respective meanings assigned to such terms
in the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Specific
Terms</U></B>. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall
have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Assigned
Agreement</U>&rdquo; means the loan agreement, note, indenture or similar agreement pursuant to which a Portfolio Investment is
incurred or issued by the obligor thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Assignment
Agreement</U>&rdquo; means an agreement by and between the Transferor and the Transferee, substantially in the form of <U>Exhibit
A</U> attached hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Agreement</U>&rdquo;
means this Sale and Contribution Agreement, as the same may be amended, restated, waived, supplemented and/or otherwise modified
from time to time hereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Contribution</U>&rdquo;
has the meaning specified in <U>Section 2.01(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&quot;<U>Initial Portfolio
Investments</U>&quot; means the Portfolio Investments included in the Initial Transferred Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Initial Transferred
Assets</U>&rdquo; has the meaning specified in the recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Loan and
Security Agreement</U>&rdquo; means that certain Loan and Security Agreement, dated as of August 26, 2016, among the Transferee,
CION Investment Management, LLC, as portfolio manager, the Lenders party thereto, U.S. Bank National Association, as the Collateral
Agent, U.S. Bank National Association, as the Collateral Administrator, U.S. Bank National Association, as the Securities Intermediary
and JPMorgan Chase Bank, National Association, as administrative agent for the Lenders thereunder, as amended, restated, supplemented
and/or otherwise modified from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Portfolio
Investment</U>&rdquo; means each loan or other corporate debt security incurred under an Assigned Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Portfolio
Investment Property</U>&rdquo; means, with respect to each Portfolio Investment (i) all monies due and to become due thereunder
and all amounts received with respect thereto on and after the date hereof, (ii) the interest of the Transferor in the security
interests (if any) granted by the obligor under the related Assigned Agreement, (iii) any promissory note evidencing the obligations
of the obligor under such Assigned Agreement, (iv) all rights relating thereto under the related Assigned Agreement now existing
and hereafter arising from time to time, (v) all guarantees, insurance, letters of credit and other agreement or arrangement of
whatever character from time to time supporting or securing payment of such Portfolio Investment and (vi) all proceeds (including
whatever is received upon the sale, exchange, collection or other disposition of the foregoing and all &ldquo;proceeds&rdquo; as
defined in Section 9-102(a)(64) of the UCC as in effect in the State of New York).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Purchase
Price</U>&rdquo; has the meaning specified in <U>Section 2.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transfer</U>&rdquo;
means any assignment, contribution, conveyance or other transfer of Portfolio Investments by the Transferor to the Transferee pursuant
to the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transfer
Date</U>&rdquo; means any Business Day on which any Portfolio Investment is acquired by the Transferee pursuant to the terms of
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transferor
Material Adverse Effect</U>&rdquo; means a material adverse effect on (a) the business, assets, operations or condition, financial
or otherwise, of the Transferor and its subsidiaries taken as a whole, (b) the ability of the Transferor to perform its obligations
hereunder, (c) the Transferee&rsquo;s title to the Transferred Assets or (d) the validity or enforceability of any Transferred
Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Transferred
Assets</U>&rdquo; means the Initial Transferred Assets Transferred to the Transferee on the date hereof and the Portfolio Investments
and related Portfolio Investment Property Transferred to the Transferee on each Transfer Date thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Terms</U></B>. All accounting terms used but not specifically defined herein shall be construed in accordance with GAAP. All terms
used in Article 9 of the UCC in the State of New York, and used but not specifically defined herein, are used herein as defined
in such Article 9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Computation
of Time Periods</U></B>. Unless otherwise stated in this Agreement, in the computation of a period of time from a specified date
to later specified date, the word &ldquo;from&rdquo; means &ldquo;from and including&rdquo; and the words &ldquo;to&rdquo; and
&ldquo;until&rdquo; each mean &ldquo;to but excluding.&rdquo; Reference to days or days without further qualification means calendar
days. Reference to any time means New York, New York time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
References</U></B>. All references to the principal balance of a Portfolio Investment as of a Transfer Date shall refer to the
close of business on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>TRANSFERS
OF THE PORTFOLIO INVESTMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contribution
of Portfolio Investments on the Initial Transfer Date</U></B>. (a) The Transferor hereby (i)&nbsp;irrevocably contributes, transfers,
grants, bargains, assigns, conveys and delivers all of its right, title and interest in, to and under the Initial Portfolio Investments
and the related Portfolio Investment Property to the Transferee, absolutely and not as collateral security, without recourse,
except as expressly provided herein, as a capital contribution to the Transferee, and the Transferee hereby acquires, accepts
and receives all of the Transferor&rsquo;s right, title and interest in, to and under the Initial Portfolio Investments and the
related Portfolio Investment Property and (ii)&nbsp;vests in the Transferee all powers and rights of the Transferor over the Initial
Portfolio Investments and the related Portfolio Investment Property to have and to hold the same unto the Transferee and its successors
and assigns forever (the actions described in the foregoing <U>clauses (i)</U> and <U>(ii)</U>, collectively, the &ldquo;<U>Contribution</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
exchange for the Contribution, the Transferee hereby absolutely, irrevocably and unconditionally issues and delivers to the Transferor
one hundred percent (100%) of the Common Membership Interest in the Transferee (the &ldquo;<U>Equity Issuance</U>&rdquo;). The
Transferor hereby accepts the Equity Issuance. Following the Equity Issuance, the Transferor shall hold one hundred percent (100%)
of the Transferee&rsquo;s Common Membership Interest and the Transferee shall be a direct subsidiary of the Transferor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
of Portfolio Investments on Subsequent Transfer Date</U></B>. (a) Subject to the terms
and conditions hereof, from time to time the Transferor may Transfer (without recourse except as expressly provided herein) to
the Transferee on any Transfer Date designated by the Transferor and agreed to by the Transferee, the Portfolio Interests designated
by the Transferor, together with all of the Transferor&rsquo;s right, title and interest in and to the Portfolio Investment Property
with respect to such Portfolio Investment, and the Transferee agrees to purchase or accept as a capital contribution, as applicable,
all such Portfolio Investments and Portfolio Investment Property, and to assume the obligations, acknowledgments, liabilities,
duties and burdens of the Transferor under the Assigned Agreements relating to such Portfolio Investments, on each Transfer Date.
Each Transfer shall be evidenced by an Assignment Agreement including Schedule I thereto listing the Portfolio Investments subject
to such Transfer and the Transferor and the Transferee shall execute and deliver an Assignment Agreement on or before each Transfer
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Portfolio Investments being transferred to the Transferee on each Transfer Date shall be identified on Schedule I to the Assignment
Agreement entered into in connection with such Transfer Date. The &ldquo;<U>Purchase Price</U>&rdquo; of all Portfolio Investments
Transferred after the date hereof shall be equal to the fair market value thereof as agreed upon from time to time by the Transferor
and the Transferee. In consideration for each Transfer of Portfolio Investments after the date hereof, the Transferee shall pay
to the Transferor on the Transfer Date for such Portfolio Investments the cash portion of the Purchase Price therefor in dollars
in immediately available funds. All payments by the Transferee under this <U>Section 2.02(b)</U> shall be effected by means of
a wire transfer not later than 3:00 p.m. (New York time) on the day when due to the account notified to the Transferee by the Transferor
from time to time. Any portion of the Purchase Price not paid in cash shall be deemed to constitute a capital contribution to the
equity of the Transferee and a corresponding increase to the capital account of the Transferor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
and after each Transfer Date hereunder and upon payment of the Purchase Price therefor, the Transferee shall own the Portfolio
Investments Transferred by the Transferor to the Transferee on such Transfer Date, and the Transferor shall not take any action
inconsistent with such ownership and shall not claim any ownership interest in such Portfolio Investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the Transfer by the Transferee of any Portfolio Investment as contemplated by this Agreement, the Transferor further
agrees that it shall, at its own expense, indicate clearly and unambiguously in its computer files on or prior to each Transfer
Date, and in its financial statements, that such Portfolio Investment has been transferred by the Transferee in accordance with
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor shall take such action and execute and file all documents as requested by the Transferee from time to time hereafter
that may be reasonably necessary or appropriate to carry out the purpose and intent of this Agreement and to effect and perfect
the contribution, transfer, grant, bargain, assignment or conveyance contemplated herein and ensure that the Transferee owns and
has an enforceable interest in or right to use, enforce, and collect damages, income and proceeds in connection with, as the case
may be, the Transferred Assets or, solely if <U>Section 2.03</U> hereof is applicable, an enforceable security interest in the
Transferred Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Nature
of the Transfers</U></B>. It is the express intent of the parties hereto that the Transfer of any Portfolio Investment and the
related Portfolio Investment Property by the Transferor to the Transferee hereunder be, and be treated for all purposes (other
than for accounting and tax purposes) as an absolute sale or contribution, as applicable, by the Transferor (free and clear of
any Lien, security interest, charge or encumbrance other than Permitted Liens) to the Transferee. It is, further, not the intention
of the parties that such Transfer be deemed a pledge of any such Portfolio Investment and the related Portfolio Investment Property
by the Transferor to the Transferee to secure a debt or other obligation of the Transferor. However, in the event that, notwithstanding
the intent of the parties, any such Portfolio Investment and the related Portfolio Investment Property is held to continue to
be property of the Transferor, then the parties hereto agree that: (i) this Agreement shall also be deemed to be, and hereby is,
a &ldquo;security agreement&rdquo; within the meaning of Article 9 of the UCC; (ii) the transfer of any such Portfolio Investment
and the related Portfolio Investment Property provided for in this Agreement shall be deemed to be a grant by the Transferor to
the Transferee of a first priority security interest (subject only to Permitted Liens) in all of the Transferor&rsquo;s right,
title and interest in and to such Portfolio Investment and the related Portfolio Investment Property and all proceeds of the conversion,
voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including, without limitation,
all amounts from time to time held or invested in any Account, whether in the form of cash, instruments, securities or other property,
to secure the prompt and complete payment of a debt deemed to have been incurred by the Transferor in the ordinary course of business
of the Transferor and the Transferee; (iii) the possession by the Transferee (or the Collateral Agent, for the benefit of the
Secured Parties) of such Portfolio Investment and such other Portfolio Investment Property as constitute instruments, money, negotiable
documents or chattel paper shall be, subject to clause (iv), for purposes of perfecting the security interest pursuant to the
UCC; and (iv) acknowledgements from Persons holding such property shall be deemed acknowledgements from custodians, bailees or
agents (as applicable) of the Transferee for the purpose of perfecting such security interest under applicable law. The parties
further agree in such event that any assignment of the interest of the Transferee pursuant to any provision hereof shall also
be deemed to be an assignment of any security interest created pursuant to the terms of this Agreement. Each of the Transferor
and the Transferee shall, to the extent consistent with this Agreement and the other Loan Documents, take such actions as may
be necessary to ensure that, if this Agreement were deemed to create a security interest in any Portfolio Investment, such security
interest would be deemed to be a perfected security interest of first priority (subject only to Permitted Liens) under applicable
law and will be maintained as such throughout the term of this Agreement. The Transferee shall have, in addition to the rights
and remedies which it may have under this Agreement, all other rights and remedies provided to a secured creditor under the UCC
and other applicable law, which rights and remedies shall be cumulative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
III<BR>
<BR>
CONDITIONS OF TRANSFER</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent to Effectiveness</U></B>. The effectiveness of this Agreement shall be subject to satisfaction of each of the following
conditions precedent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement;
Other Documents</U>. This Agreement or counterparts hereof shall have been duly executed by, and delivered to, the Transferor and
the Transferee, and the Transferee shall have received such documents, instruments, agreements and legal opinions as the Transferee
shall reasonably request in connection with the transactions contemplated by this Agreement, each in form and substance reasonably
satisfactory to the Transferee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Laws</U>. The Transferor shall be in compliance with all applicable foreign, federal, state and local laws and regulations,
except to the extent that the failure to so comply, individually or in the aggregate, could not reasonably be expected to have
a Transferor Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>UCC
Financing Statements</U>. The Transferee shall have received evidence reasonably satisfactory to it of the filing of a UCC-1 financing
statement with the Secretary of State of the State of Maryland naming the Transferor as debtor and the Transferee as secured party
in a manner sufficient to perfect the Transferee&rsquo;s ownership interest in the Portfolio Investments and Portfolio Investment
Property with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
to all Transfers</U></B>. Each Transfer by the Transferor hereunder shall be subject to satisfaction of the following further
conditions precedent on the Transfer Date therefor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
representations and warranties of the Transferor contained herein shall be true and correct in all material respects as of such
Transfer Date, both before and after giving effect to such Transfer and to the application of the Purchase Price therefor, except
to the extent that any such representation or warranty expressly relates to an earlier date (in which case it shall be true and
correct in all material respects as of such earlier date); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor and the Transferee shall have executed and delivered an Assignment Agreement, including Schedule I thereto listing the
Portfolio Investments subject to such Transfer, on or before such Transfer Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The acceptance by the Transferor of the
Purchase Price for any Transferred Portfolio Investment on any Transfer Date shall be deemed to constitute, as of any such Transfer
Date, a representation and warranty by the Transferor that the conditions in this <U>Section 3.02</U> have been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
IV<BR>
<BR>
REPRESENTATIONS AND WARRANTIES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties of the Transferor</U></B>. The Transferor makes the following representations and warranties, on which the Transferee
relies in acquiring each Portfolio Investment hereunder. As of the Closing Date and each Transfer Date (unless a specific date
is specified below), the Transferor represents and warrants to the Transferee for the benefit of the Transferee and each of its
successors and assigns that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization
and Good Standing</U>. The Transferor has been duly organized and is validly existing and in good standing as corporation, incorporated
in Maryland, with all requisite corporate power and authority to own or lease its properties and to conduct its business as such
business is presently conducted, and had at all relevant times, and now has, all necessary power, authority and legal right to
acquire and own each Portfolio Investment and to Transfer such Portfolio Investment and the related Portfolio Investment Property
to the Transferee hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Due
Qualification</U>. The Transferor is duly qualified to do business and has obtained all necessary licenses and approvals, in all
jurisdictions in which the ownership or lease of its property or the conduct of its business requires such qualification, licenses
and/or approvals except where the failure to do so would not reasonably be expected to have a Transferor Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Power
and Authority; Due Authorization; Execution and Delivery</U>. The Transferor (i) has all necessary corporate power, authority and
legal right to (a) execute and deliver this Agreement and each Assignment and (b) carry out the terms of this Agreement and each
Assignment Agreement and (ii) has duly authorized by all necessary corporate action the execution, delivery and performance of
this Agreement and each Assignment Agreement and the Transfer of each Portfolio Investment on the terms and conditions herein provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Valid
Conveyance; Binding Obligations</U>. This Agreement and each Assignment will be duly executed and delivered by the Transferor,
and this Agreement, together with the applicable Assignment in each case, other than for accounting and tax purposes, shall effect
valid Transfers of each Portfolio Investment, enforceable against the Transferor, and this Agreement and each Assignment shall
constitute legal, valid and binding obligations of the Transferor enforceable against the Transferor in accordance with their respective
terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws and all other applicable
liquidation, conservatorship, moratorium, rearrangement, receivership, suspension of payments, or similar debtor relief laws from
time to time in effect affecting the rights of creditors generally and general principles of equity (whether such enforceability
is considered in a suit at law or in equity).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Violation</U>. The execution, delivery and performance of this Agreement, each Assignment and all other agreements and instruments
executed and delivered or to be executed and delivered by the Transferor pursuant hereto in connection with the Transfer of any
Portfolio Investment will not (i) conflict with, result in any breach of any of the terms and provisions of, or constitute (with
or without notice or lapse of time or both) a default under, the Transferor&rsquo;s organizational documentation or any, material
contractual obligation of the Transferor, (ii) result in the creation or imposition of any Lien (other than Permitted Liens) upon
any of the Transferor&rsquo;s properties pursuant to the terms of any such contractual obligation, other than this Agreement, or
(iii) violate any applicable law except where any violation would not reasonably be expected to have a Transferor Material Adverse
Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Litigation</U>.
No litigation or administrative proceeding of or before any court, tribunal or governmental body is currently pending, or to the
knowledge of the Transferor threatened, against the Transferor or any of its properties or with respect to this Agreement or the
other Loan Documents to which it is a party that, if adversely determined, would in the reasonable judgment of the Transferor be
expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>All
Consents Required</U>. All approvals, authorizations, consents, orders, licenses or other actions of any Person or of any Governmental
Authority (if any) required for the due execution, delivery, performance, validity or enforceability of this Agreement or any Assignment
to which the Transferor is a party have been obtained, except where the failure to obtain any such approval, authorization, consent,
order, license or action would not reasonably be expected to have a Transferor Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>State
of Organization, Etc</U>. As of the date hereof, the Transferor&rsquo;s jurisdiction of organization and the locations of its records
concerning the Transferred Assets are set forth in <U>Schedule 4.01(h)</U>, which <U>Schedule 4.01(h)</U> shall be updated, without
the requirement for consent by any Person, to update all information with respect to the Transferor set forth therein. During the
prior five years, except as set forth in <U>Schedule 4.01(h)</U>, the Transferor has not been known as or used any corporate, fictitious
or trade name.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bulk
Sales</U>. The execution, delivery and performance of this Agreement and the transactions contemplated hereby do not require compliance
with any &ldquo;bulk sales&rdquo; act or similar law by the Transferor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Solvency</U>.
The Transferor is not the subject of any bankruptcy proceedings. The Transferor is solvent and will not become insolvent after
giving effect to the transactions contemplated by this Agreement and the other Loan Documents. The Transferor, after giving effect
to the transactions contemplated by this Agreement and the other Loan Documents, will have an adequate amount of capital to conduct
its business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Laws</U>. The Transferor has complied in all material respects with all applicable law to which it may be subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Taxes</U>.
The Transferor has filed or caused to be filed all tax returns that are required to be filed by it (subject to any extensions to
file properly obtained by the same). The Transferor has paid or made adequate provisions for the payment of all Taxes and all assessments
made against it or any of its property (other than any amount of Tax the validity of which is currently being contested in good
faith by appropriate proceedings and with respect to which reserves in accordance with GAAP have been provided on the books of
the Transferor), and no tax lien has been filed and, to the Transferor&rsquo;s knowledge, no claim is being asserted, with respect
to any such Tax, assessment or other charge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignments</U>.
The information regarding each Portfolio Investment identified in Schedule I to an Assignment Agreement is true, correct and complete
in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Liens</U>.
The Liens granted to the Transferee pursuant to <U>Section&nbsp;2.03</U> by the Transferor are fully perfected first priority Liens
in and to the Transferred Portfolio Investments and the Portfolio Investment Property with respect thereto, subject only to Permitted
Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Company Act</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor has elected to be treated as a business development corporation for purposes of the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor is a &ldquo;qualified purchaser&rdquo; within the meaning of Section 2(a)(51) of the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Portfolio
Investments</U>. With respect to each Transferred Portfolio Investment Transferred by the Transferor, as of the Transfer Date with
respect to such Portfolio Investment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;immediately
prior to its Transfer to the Transferee, such Portfolio Investment and the Portfolio Investment Property with respect thereto was
owned by the Transferor free and clear of any adverse claim (other than Permitted Liens and any Lien that will automatically be
released upon its Transfer to the Transferee), and the Transferor has had at all relevant times the full right, power and authority
to Transfer and pledge its interest therein as contemplated under this Agreement and, upon such Transfer, the Transferee will acquire
a valid and perfected security interest in, and sole record and beneficial ownership interest in, such Portfolio Investment and
the Portfolio Investment Property with respect thereto free and clear of any adverse claim and, following such Transfer, such Portfolio
Investment and the Portfolio Investment Property with respect thereto will not be subject to any adverse claim as a result of any
action or inaction on the part of the Transferor;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transfer of each such Portfolio Investment and the Portfolio Investment Property with respect thereto pursuant to this Agreement
and the applicable Assignment Agreement constitutes a valid Transfer to the Transferee of all right, title and interest of the
Transferor in and to such Portfolio Investment and the Portfolio Investment Property with respect thereto, which interest is perfected
and of first priority under applicable law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor has no knowledge of any fact (including any defaults by the obligor thereunder on any other Portfolio Investment) that
would cause it, or should have caused it, to expect that any payments on such Portfolio Investment will not be paid in full when
due or that is reasonably likely to cause or result in any other Material Adverse Effect with respect to such Portfolio Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ERISA</U>.
No notice of a Lien arising under Title IV of ERISA has been filed under Section 6323(a) of the Internal Revenue Code of 1986,
as amended (or any successor provision) against, or otherwise affecting, the assets of the Transferor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Value
Given</U>. The Transferor has received reasonably equivalent value from the Transferee in exchange for the Transfer of such Portfolio
Investment Transferred hereunder. No such Transfer has been made for or on account of an antecedent debt owed by the Transferor
and no such transfer is or may be voidable or subject to avoidance under any bankruptcy, insolvency, reorganization, or other similar
laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties of the Transferee</U></B>. The Transferee makes the following representations and warranties, on which the Transferor
relies in selling each Portfolio Investment to the Transferee hereunder. As of the Closing Date and each Transfer, the Transferee
represents and warrants to the Transferor for the benefit of the Transferor and each of its successors and assigns that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization
and Good Standing</U>. The Transferee has been duly organized and is validly existing and in good standing as a limited liability
company in Delaware, with the power and authority to own or lease its properties and to conduct its business as such properties
are currently owned and such business is currently conducted, and had at all relevant times, and has, all necessary power, authority
and legal right to acquire and own each Portfolio investment and the related Portfolio Investment Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Due
Qualification</U>. The Transferee is duly qualified to do business and has obtained all necessary licenses and approvals in all
jurisdictions in which the ownership or lease of its property or the conduct of its business requires such qualification, licenses
and/or approvals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Power
and Authority; Due Authorization; Execution and Delivery</U>. The Transferee (i) has all necessary corporate power, authority and
legal right to (a) execute and deliver this Agreement and the other Loan Documents to which it is a party and (b) carry out the
terms of this Agreement and the other Loan Documents to which it is a party and (ii) has duly authorized by all necessary corporate
action the execution, delivery and performance of this Agreement and the other Loan Documents to which it is a party and the Transfer
of each Portfolio Investment on the terms and conditions herein provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>All
Consents Required</U>. All approvals, authorizations, consents, orders, licenses or other actions of any Person or of any Governmental
Authority (if any) required for the due execution, delivery, performance, validity or enforceability of this Agreement or any Assignment
Agreement to which the Transferee is a party have been obtained, except where the failure to obtain any such approval, authorization,
consent, order, license or other action would not reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Obligation</U>. This Agreement and each other Loan Document to which the Transferee is a party constitute legal, valid and binding
obligations of the Transferee, enforceable against the Transferee in accordance with its respective terms, except as enforceability
may be limited by bankruptcy, insolvency, reorganization, or other similar laws and all other applicable liquidation, conservatorship,
moratorium, rearrangement, receivership, suspension of payments, or similar debtor relief laws from time to time in effect affecting
the rights of creditors generally and general principles of equity (whether such enforceability is considered in a suit at law
or in equity).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Violation</U>. The consummation of the transactions contemplated by this Agreement, each Assignment and the other Loan Documents
to which it is a party and the fulfillment of the terms hereof and thereof will not (i) conflict with, result in any breach of
any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, the Transferee&rsquo;s
limited liability company agreement or any material contractual obligation of the Transferee, (ii) result in the creation or imposition
of any Lien (other than Permitted Liens) upon any of the Transferee&rsquo;s properties pursuant to the terms of any such contractual
obligation, other than this Agreement, or (iii) violate any applicable law, except where any violation would not reasonably be
expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Value
Given</U>. The Transferee has given reasonably equivalent value to the Transferor in exchange for the Transfer of such Portfolio
Investment. No such Transfer has been made for or on account of an antecedent debt owed by the Transferor and no such transfer
is or may be voidable or subject to avoidance under any bankruptcy, insolvency, reorganization, or other similar laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Litigation</U>.
There are no legal, governmental or regulatory proceedings pending to which the Transferee is a party or to which any of its property
is subject, which if determined adversely to the Transferee would individually or in the aggregate have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Law</U>. The Transferee has complied in all material respects with all applicable law to which it may be subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
V<BR>
<BR>
Covenants of Transferee</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Affirmative
Covenants</U></B>. The Transferor hereby covenants and agrees that, unless otherwise consented to by the Transferee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Offices
and Records</U>. The Transferor shall maintain its jurisdiction of incorporation, principal place of business and the office at
which it keeps the records concerning the Transferred Assets at the respective locations specified in <U>Schedule 4.01(h)</U> or,
upon thirty (30)&nbsp;days prior written notice to the Transferee, at such other location in a jurisdiction where all action required
to be taken pursuant to <U>Section 7.10</U> shall have been taken with respect to the Transferred Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment</U>.
The Transferor agrees that the Transferee may pledge all of its right, title and interest in, to and under the Transferred Portfolio
Investments, the Portfolio Investment Property with respect thereto and this Agreement to the Collateral Agent pursuant to the
Loan and Security Agreement for the benefit of the Secured Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Separate
Identity</U>. The Transferor shall take all actions required to maintain the Transferee&rsquo;s status as a separate legal entity,
including (i) not holding the Transferee out to third parties as other than an entity with assets and liabilities distinct from
the Transferor and the Transferor&rsquo;s subsidiaries, (ii) not holding itself out to be responsible for the indebtedness of the
Transferee or, other than by reason of owning common membership interests in the Transferee, for any decisions or actions relating
to the Transferee, (iii) taking such other actions as are necessary on its part to ensure that all procedures required by its certificate
of incorporation and by-laws or its certificate of formation and limited liability company agreement, as applicable, and the Transferee&rsquo;s
certificate of formation and limited liability company agreement are duly and validly taken, (iv) keeping correct and complete
records and books of account and minutes and (v) not acting in any manner that could foreseeably mislead others with respect to
the Transferee&rsquo;s separate identity. In addition to the foregoing, the Transferor and the Transferee shall take such actions
as shall be required in order that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor shall maintain records and books of account separate from those of the Transferee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
resolutions, agreements and other instruments underlying the transactions described in this Agreement shall be continuously maintained
by the Transferor as official records;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor shall maintain an arm&rsquo;s-length relationship with the Transferee and shall not hold itself out as being liable
for the Indebtedness of the Transferee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor shall keep its assets and liabilities wholly separate from those of the Transferee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor shall not mislead third parties by conducting or appearing to conduct business on behalf of the Transferee or expressly
or impliedly representing or suggesting that the Transferor is liable or responsible for the indebtedness of the Transferee or
that the assets of the Transferor are available to pay the creditors of the Transferee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor shall at all times limit its transactions with the Transferee only to those expressly permitted under this Agreement
or under any Loan Document; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transferor shall comply with (and cause to be true and correct) each of the facts and assumptions relating to the Transferor and
the Transferee contained in the &ldquo;no substantive consolidation&rdquo; opinion of White &amp; Case LLC delivered on the Closing
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Protection
of Title</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor shall file such financing statements, or cause to be filed such continuation and other statements, all in such manner
and in such places as may be required by law fully to perfect and preserve the Transfer hereunder to the Transferee of the Transferred
Portfolio Investments and Portfolio Investment Property with respect thereto and in the proceeds thereof. The Transferor shall
deliver, or cause to be delivered, to the Transferee file stamped copies of, or filing receipts for, any document filed as provided
above, as soon as available following such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 1.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor shall not change its jurisdiction of incorporation or formation, as applicable, name, identity or corporate or limited
liability company structure, as applicable, in any manner that would, could or might make any financing statement or continuation
statement or continuation statement filed by the Transferor in accordance with this Agreement seriously misleading within the meaning
of Section 9-506(b) of the UCC, unless it shall have given the Transferee at least thirty (30)&nbsp;days prior written notice thereof
and shall file such financing statements or amendments as may be necessary to continue the perfection of the Collateral Agent&rsquo;s
interest in all Transferred Portfolio Investments and Portfolio Investment Property with respect thereto Transferred hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Computer
Files Marked</U>. The Transferor shall, at its own expense, on or prior to each Transfer Date, indicate in its computer files created
in connection with the Transferred Portfolio Investments and Portfolio Investment Property with respect thereto for such Transfer
Date that such Transferred Portfolio Investments and Portfolio Investment Property have been Transferred to the Transferee pursuant
to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor will direct any agent, administrative agent or obligor for any Portfolio Investment included in the Transferred Portfolio
Investments to remit all payments and collections with respect to such Portfolio Investment following the applicable Transfer Date
directly to the Collection Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor acknowledges that all proceeds received by it or its Affiliates after the applicable Transfer Date with respect to the
Transferred Portfolio Investments Transferred to the Transferee are held and shall be held in trust for the benefit of the Transferee
and its assignees until deposited into the Collection Account as required in the Loan and Security Agreement. The Transferor promptly
shall remit to the Transferee or the Transferee's designee any payment or any other sums relating to, or otherwise payable on account
of, the Transferred Portfolio Investments that the Transferor receives after the applicable Transfer Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Negative
Covenants of the Transferor</U></B>. The Transferor covenants and agrees that, without the prior written consent of the Transferee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sale
of Assets</U>. The Transferor shall not Transfer (by operation of law or otherwise) or otherwise dispose of any Transferred Portfolio
Investments or Portfolio Investment Property with respect thereto, except as otherwise expressly permitted by this Agreement or
any other Loan Document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Liens</U>.
After the Transfer by the Transferor of any Transferred Portfolio Investment and the Portfolio Investment Property with respect
thereto, the Transferor shall not create, incur, assume or permit to exist any adverse claim on or with respect to such Transferred
Portfolio Investment or the Portfolio Investment Property with respect thereto, except for Permitted Liens.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Modifications
of Portfolio Investments or Assigned Agreements</U>. The Transferor shall not extend, amend, forgive, discharge, compromise, cancel
or otherwise modify the terms of any Transferred Portfolio Investment or amend, modify or waive any payment term or condition of
any Assigned Agreement as it applies to any outstanding Transferred Portfolio Investment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sale
Characterization</U>. The Transferor shall not make statements or disclosures or prepare any financial statements for any purpose,
including for reporting or accounting purposes, that shall account for the transactions contemplated by this Agreement in any manner
other than as a true sale and/or absolute assignment of its full right, title and ownership interest in such Transferred Portfolio
Investment and the Portfolio Investment Property with respect thereto to the Transferee; <U>provided</U>, <U>however</U>, that
nothing contained herein shall preclude its financial statements from being consolidated with those of the Transferee to the extent
required by GAAP.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
VI<BR>
<BR>
Indemnification</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Without limiting any
other rights which any such Person may have hereunder or under applicable law, the Transferor agrees to indemnify the Transferee
and all officers, directors, shareholders, controlling persons, employees and agents of any of the foregoing (each of the foregoing
Persons being individually called an &ldquo;<U>Indemnified Party</U>&rdquo;) from and against all claims, losses, penalties, fines,
forfeitures, related costs and judgments and other costs, fees and reasonable expenses (including reasonable attorneys&rsquo; fees
and expenses) that such Indemnified Party may incur as a result of (i) the failure of the Transferor to perform its obligations
under this Agreement or (ii) the breach by the Transferor of any representation under <U>Section 4.01(p)</U> this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Article
VII<BR>
<BR>
MISCELLANEOUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments;
Limited Agency</U></B>. No amendment, waiver or other modification of any provision of this Agreement shall be effective unless
signed by the Transferee and the Transferor and consented to in writing by the Administrative Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waivers;
Cumulative Remedies</U></B>. No failure or delay on the part of the Transferee (or any assignee thereof) or the Transferor in
exercising any power, right, privilege or remedy under this Agreement shall operate as a waiver thereof, nor shall any single
or partial exercise of any such power, right, privilege or remedy preclude any other or future exercise thereof or the exercise
of any other power, right, privilege or remedy. The powers, rights, privileges and remedies herein provided are cumulative and
not exhaustive of any powers, rights, privileges and remedies provided by law. Any waiver of this Agreement shall be effective
only in the specific instance and for the specific purpose for which it is given.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U></B>.
All demands, notices and other communications hereunder shall, unless otherwise stated herein, be in writing (which shall include
facsimile communication and communication by e-mail) and faxed, e-mailed or delivered, to each party hereto, at its address set
forth under its name on the signature pages hereto or at such other address as shall be designated by such party in a written
notice to the other parties hereto. Notices and communications by facsimile and e-mail shall be effective when sent (and shall
be followed by hard copy sent by regular mail), and notices and communications sent by other means shall be effective when received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability
of Provisions</U></B>. If any one or more of the covenants, provisions or terms of this Agreement shall be for any reason whatsoever
held invalid, then such covenants, provisions or terms shall be deemed severable from the remaining covenants, provisions or terms
of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law; Jury Waiver</U></B>. THIS AGREEMENT SHALL, IN ACCORDANCE WITH SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE
OF NEW YORK, BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO WAIVES, TO THE FULLEST EXTENT PERMITTED
BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION ARISING DIRECTLY OR INDIRECTLY OUT OF, UNDER OR
IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREUNDER.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U></B>.
For the purpose of facilitating the execution of this Agreement and for other purposes, this Agreement may be executed simultaneously
in any number of counterparts, each of which counterparts shall be deemed to be an original, and all of which counterparts shall
constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile
or e-mail in portable document format (.pdf) shall be effective as delivery of a manually executed counterpart of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bankruptcy
Non-Petition and Limited Recourse; Claims</U></B>. The Transferor hereby agrees that it will not institute against, or join any
other Person in instituting against, the Transferee any bankruptcy, winding up, reorganization, arrangement, insolvency, moratorium
or liquidation Proceedings, or other Proceedings under U.S. federal or state bankruptcy or similar laws so long as there shall
not have elapsed one year and one day (or such longer preference period as shall then be in effect and one day) after the payment
in full of all amounts owing under the Loan and Security Agreement. In addition, neither party hereto shall have any recourse
for any amounts payable or any other obligations arising under this Agreement against any officer, member, director, employee,
partner, Affiliate or security holder of the other party or any of its successors or assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Effect; Assignability</U></B>. (a) This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Transferor acknowledges that the Collateral Agent is the beneficiary of a collateral assignment of this Agreement pursuant to Section
8.02 of the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Administrative Agent shall be an express third-party beneficiary of <U>Section 7.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings
and Exhibits</U></B>. The headings herein are for purposes of references only and shall not otherwise affect the meaning or interpretation
of any provision hereof. The schedules and exhibits attached hereto and referred to herein shall constitute a part of this Agreement
and are incorporated into this Agreement for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 7.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Assurances</U></B>. The Transferor shall, at its sole cost and expense, promptly and duly execute and deliver any and all further
instruments and documents and take such further actions that may be necessary or desirable or that the Transferee may request
to carry out more effectively the provisions and purposes of this Agreement or to obtain the full benefits of this Agreement and
of the rights and powers herein granted, including (i) securing all consents and approvals necessary or appropriate for the assignment
to or for the benefit of the Transferee of any Transferred Portfolio Investment and the Portfolio Investment Property with respect
thereto, (ii) perfecting, protecting, preserving, continuing and maintaining fully the purchase by, and the assignments, security
interests and other Liens granted or purported to be granted to, the Transferee under this Agreement (including the filing any
financing or continuation statements under the UCC with respect to the ownership interests or Liens granted hereunder) and (iii)
enabling the Transferee to exercise or enforce its rights under this Agreement. The Transferor hereby authorizes the Transferee
to file any such financing or continuation statements. A carbon, photographic or other reproduction of this Agreement or of any
notice or financing statement covering the Transferred Portfolio Investments or any part thereof and the Portfolio Investment
Property with respect thereto shall be sufficient as a notice or financing statement where permitted by law. If any amount payable
under or in connection with any of the Transferred Portfolio Investments or Portfolio Investment Property with respect thereto
is or shall become evidenced by any instrument, such instrument, other than checks and notes received in the ordinary course of
business, shall be duly endorsed in a manner satisfactory to the Transferee immediately upon the Transferor&rsquo;s receipt thereof
and promptly delivered to or at the direction of the Collateral Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature pages to follow.</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties have caused this Agreement to be duly executed by their respective officers as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>34TH STREET FUNDING, LLC,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as the Transferee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I>/s/ Michael A. Reisner</I></FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Michael A. Reisner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: Co-President and Co-CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">34th Street Funding, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3 Park Avenue, 36th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attention: Credit Team</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email: CIONAgentNotices@iconinvestments.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>C&#298;ON INVESTMENT CORPORATION,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as the Transferor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><I>/s/
    Michael A. Reisner</I></FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Michael A. Reisner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: Co-President and Co-CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">C&#298;ON Investment Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3 Park Avenue, 36th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attention: Keith Franz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email: kfranz@iconinvestments.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 18 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>SCHEDULE 4.01(h)</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>LOCATION OF RECORDS, NAME OF TRANSFEROR<BR>
AND JURISDICTION OF ORGANIZATION</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Locations of Records</U>:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Bank National
Association</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Steven Garrett</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1719 Range Way</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Florence, SC 29501</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Names</U>:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">C&#298;ON Investment
Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">3.</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 5.4pt; padding-left: 0in; font-size: 10pt; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Jurisdiction of Formation</U>:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in">Maryland</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>EXHIBIT A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>FORM OF ASSIGNMENT AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS ASSIGNMENT AGREEMENT
(this &ldquo;<U>Assignment Agreement</U>&rdquo;) is entered into as of __________, ____, by and between C&#298;ON INVESTMENT CORPORATION
(the &ldquo;<U>Transferor</U>&rdquo;) and 34TH STREET FUNDING, LLC (the &ldquo;<U>Transferee</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">We
refer to that certain Sale and Contribution Agreement, dated as of August 26, 2016 (as amended, modified or supplemented from time
to time, the &ldquo;<U>Sale and Contribution Agreement</U>&rdquo;), by and between the Transferor and the Transferee. All of the
terms, covenants and conditions of the Sale and Contribution Agreement are hereby made a part of this Assignment Agreement and
are deemed incorporated herein in full. Unless otherwise defined herein, capitalized terms or matters of construction defined or
established in the Sale and Contribution Agreement shall be applied herein as defined or established therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">For
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Transferor hereby Transfers to
the Transferee, without recourse, except as provided in the Sale and Contribution Agreement, all of the Transferor&rsquo;s right,
title and interest in, to and under all Portfolio Investments identified on <U>Schedule I</U> hereto as &ldquo;Transferred Portfolio
Investments&rdquo; as of the Transfer Date of _______ and the Portfolio Investment Property with respect thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Portfolio Investments being transferred by this Assignment Agreement have an aggregate principal balance as of the Transfer Date
of $______ for a Purchase Price of $______.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Subject
to the terms and conditions of the Sale and Contribution Agreement, the Transferor hereby covenants and agrees to Transfer, execute
and deliver, or cause to be signed, executed and delivered, and to do or make, or cause to be done or made, upon request of the
Transferee and at the Transferor&rsquo;s expense, any and all agreements, instruments, papers, deeds, acts or things, supplemental,
confirmatory or otherwise, as may be reasonably required by the Transferee for the purpose of or in connection with acquiring or
more effectively vesting in the Transferee or evidencing the vesting in the Transferee of the property, rights, title and interests
of the Transferor in the Portfolio Investments Transferred hereunder or intended to be Transferred hereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Wherever
possible, each provision of this Assignment Agreement shall be interpreted in such a manner as to be effective and valid under
applicable law; <U>provided</U>, <U>however</U>, that, if any provision of this Assignment Agreement shall be prohibited by or
invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Assignment Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><B>THIS
ASSIGNMENT AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
foregoing Transfer does not constitute and is not intended to result in any assumption by the Transferee of any obligation of the
undersigned to any other Person under any Assigned Agreement or otherwise in connection with the Transferred Portfolio Investments
and Portfolio Investment Property with respect thereto described above or any agreement or instrument relating to any of them.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


<!-- Field: Page; Sequence: 20; Options: NewSection; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Transferee and the Transferor intend that the transactions contemplated by this Assignment Agreement shall be treated as a sale,
assignment, transfer and conveyance by the Transferor of the Transferred Portfolio Investments and Portfolio Investment Property
described above and not a lending transaction. If this Assignment Agreement does not constitute a valid sale, assignment, transfer
and conveyance of all right, title and interest of, in, to and under the Transferred Portfolio Investments and Portfolio Investment
Property described above despite the intent of the parties hereto, the Transferor hereby grants a first priority &ldquo;security
interest&rdquo; (as defined in the UCC as in effect in the State of New York) in the Transferred Portfolio Investments and Portfolio
Investment Property and all proceeds thereof to the Transferee, and the parties agree that this Assignment Agreement shall constitute
a security agreement under the UCC in effect in New York. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">This
Assignment Agreement is made pursuant to and based upon the representations, warranties and agreements on the part of the undersigned
contained in the Sale and Contribution Agreement and is to be governed by the Sale and Contribution Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 21; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, the
parties have caused this Assignment Agreement to be executed by their respective officers thereunto duly authorized, as of the
day and year first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%; text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>C&#298;ON INVESTMENT CORPORATION</B>,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; font-size: 10pt"><FONT STYLE="font-size: 10pt">as Transferor</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 229.7pt; text-indent: -13.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 229.7pt; text-indent: -13.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 50%; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>34TH STREET FUNDING, LLC</B>,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">as Transferee</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 229.7pt; text-indent: -13.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 229.7pt; text-indent: -13.7pt">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 229.7pt; text-indent: -13.7pt"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>SCHEDULE I TO EXHIBIT A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SEE ATTACHED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I><U>34TH STREET FUNDING, LLC</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Issuer</B></P></TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Asset</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Principal<BR> Balance</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Libor<BR> Spread</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Stated<BR> Maturity</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">S&amp;P<BR> Rating</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Moody&rsquo;s<BR> Rating</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">S&amp;P Industry</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Moody&rsquo;s Industry</TD><TD NOWRAP STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Delayed<BR> Draw /<BR> Revolver<BR> Funded %</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">[&#9679;]%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">[&#9679;]</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
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    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
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    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
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    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD></TR>
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    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">Total:</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">[&#9679;]</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
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    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>v448161_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<HEAD>
     <TITLE></TITLE>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MASTER PARTICIPATION AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TRANSACTION SPECIFIC TERMS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS MASTER PARTICIPATION AGREEMENT is
dated as of the Agreement Date and entered into by and between Seller and Buyer to govern the purchase and sale of the Participation
in the Loans, the Commitments (if any) and the other Transferred Rights, in accordance with the terms, conditions and agreements
set forth in the LSTA Standard Terms and Conditions for Participations for Par/Near Par Trades, published as of April 24, 2014
(the &ldquo;<U>Standard Terms</U>&rdquo;) and attached hereto as Schedule II. The Standard Terms are incorporated herein by reference
without any modification whatsoever except as otherwise agreed herein by the Parties and as specifically supplemented and modified
by the terms and elections set forth in the Transaction Summary and Sections A through I below (the &ldquo;<U>Transaction Specific
Terms</U>&rdquo;). The Standard Terms and the Transaction Specific Terms together constitute a single integrated Participation
Agreement for each trade set forth on Schedule I, and the Agreement with respect to each such trade shall have the same effect
as if a separate Participation Agreement had been entered into separately for such trade. Each such trade shall constitute a separate
and distinct &ldquo;Transaction.&rdquo; With respect to each Transaction, the Parties agree to be bound by the Standard Terms and
the Transaction Specific Terms set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>TRANSACTION SUMMARY</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.3in">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Trade Date:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">As set forth for each Transaction in Schedule I</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Agreement Date:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">August 26, 2016</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Seller:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">C&#298;ON INVESTMENT CORPORATION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Buyer:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt; text-transform: uppercase">34<SUP>TH</SUP> STREET FUNDING, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Aggregate Purchase Amount:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt; text-transform: uppercase">$131,357,804</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Credit Agreement:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>As set forth for each Transaction in Schedule I</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Borrower:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>As set forth for each Transaction in Schedule I</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Individual Purchase Amount(s):</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>As set forth for each Transaction in Schedule I</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Tranche(s):</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>As set forth for each Transaction in Schedule I</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">CUSIP or LoanXID Number(s), if available:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>As set forth for each Transaction in Schedule I</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; font-weight: bold"><FONT STYLE="font-size: 10pt">Delivery of Credit Documents:</FONT></TD>
    <TD STYLE="width: 4%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 14%; font-weight: bold"><FONT STYLE="font-size: 10pt">Yes</FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="width: 34%; font-weight: bold"><FONT STYLE="font-size: 10pt">No </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Netting Arrangements:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Yes</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Set-Off Applicable:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Yes</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Collateral Annex Applicable:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Yes</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Elevation:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Yes</FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">No </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Non-U.S. $ assets:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Yes</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Delayed Funding Term Loans:</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">Yes</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>DEFINITIONS</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized terms used in this Master Participation
Agreement shall have the respective meanings ascribed thereto in Section 1 of the Standard Terms, as supplemented by Section A
of the Transaction Specific Terms and as otherwise may be provided in other provisions of this Agreement. Terms defined in the
applicable Credit Agreement and not otherwise defined in this Agreement shall have the same meanings (with respect to the applicable
Transaction) as in such Credit Agreement. Except as otherwise expressly set forth herein, each reference herein to &ldquo;the Agreement,&rdquo;
&ldquo;this Agreement,&rdquo; &ldquo;herein,&rdquo; &ldquo;hereunder&rdquo; or &ldquo;hereof&rdquo; shall be deemed a reference
to this Agreement (as it relates separately to each Transaction). If there is any inconsistency between the Transaction Specific
Terms and the Standard Terms, the Transaction Specific Terms shall govern and control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Copyright &copy; LSTA 2008.
All rights reserved</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: teal">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Agent</U>&rdquo; has the meaning
set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Assignment</U>&rdquo; has the
meaning set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Buyer Purchase Price</U>&rdquo;
select one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;not
applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;means
the purchase price payable by Buyer to Original Buyer pursuant to the Netting Letter (this applies if there are three (3) parties
involved in the netting arrangement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;means
the purchase price payable by Buyer to Penultimate Buyer pursuant to the Netting Letter (this applies if there are four (4) or
more parties involved in the netting arrangement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Commitments</U>&rdquo; has the
meaning set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Elevation Required Consents</U>&rdquo;
has the meaning set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Elevation Transfer Fee</U>&rdquo;
has the meaning set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Loans</U>&rdquo; has the meaning
set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Netting Letter</U>&rdquo;
select one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;not
applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;means
that certain Multilateral Netting Agreement in the form currently published by the LSTA dated on or as of the Agreement Date among
Seller, Buyer [and] [,] Original Buyer [, Penultimate Buyer] and [describe any other parties to the Netting Letter]].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Original Buyer</U>&rdquo; select
one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;not
applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;means
[specify original buyer in the netting arrangement].</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Participation Required Consents</U>&rdquo;
has the meaning set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Participation Transfer Fee</U>&rdquo;
means the transfer fee (if any) set forth in Section E.1 payable to Seller in connection with the assignment by Buyer of all or
any portion of the Participation, subject to Section 10.1 of the Standard Terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Penultimate Buyer</U>&rdquo;
select one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;not
applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;none
(&ldquo;none&rdquo; is applicable if there are only three (3) parties involved in the netting arrangement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;means
[_________].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Seller Purchase Price</U>&rdquo;
select one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;not
applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;means
the purchase price payable by Original Buyer to Seller pursuant to the Netting Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Unfunded Commitments</U>&rdquo;
has the meaning set forth<FONT STYLE="font-size: 10pt"> in Schedule I for each Transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>SECTION
5 (BUYER&rsquo;S REPRESENTATIONS AND WARRANTIES)</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If &ldquo;Yes&rdquo; is specified opposite
&ldquo;Delivery of Credit Documents&rdquo; in the Transaction Summary, Buyer represents and warrants that it (i) was not a Lender
on the Trade Date and (ii) requested copies of the Credit Documents from Seller on or prior to the Trade Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>SECTION
8 (DISTRIBUTIONS; INTEREST AND FEES; PAYMENTS; COMMITMENT REDUCTIONS)</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>C.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Section
8.3 (<U>Wire Instructions</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Buyer&rsquo;s Wire Instructions</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bank: U.S. Bank N.A.<BR>
ABA No.: [*]<BR>
Acct.: [*]<BR>
Acct. No.: [*]<BR>
Ref.: [*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Seller&rsquo;s Wire Instructions</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bank: JP Morgan Chase Bank, N.A.<BR>
ABA No.: [*]<BR>
Acct.: [*]<BR>
Acct. [*]<BR>
Ref.: [*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>C.2</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.7 (<U>Set-Off</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If &ldquo;Yes&rdquo; is specified opposite &ldquo;Set-Off&rdquo;
in the Transaction Summary, clause (i) of the proviso to the second sentence of Section 8.7 shall apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>SECTION
9 (NOTICES; RECORDS)</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Buyer&rsquo;s Address for Notices and Delivery</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">34<SUP>th</SUP> Street Funding, LLC<BR>
3 Park Avenue, 36th Floor<BR>
New York, New York 10016<BR>
Attn: Credit Team<BR>
Email: CIONAgentNotices@iconinvestments.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Seller&rsquo;s Address for Notices and Delivery</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">C&#298;ON Investment Corporation<BR>
3 Park Avenue, 36th Floor<BR>
New York, New York 10016<BR>
Attn: Credit Team<BR>
Email: CIONAgentNotices@iconinvestments.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>SECTION
10 (FURTHER TRANSFERS)</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>E.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Select
one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-family: Wingdings">x</FONT></TD><TD STYLE="text-align: justify">There is no Participation Transfer Fee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">There is a Participation Transfer Fee, in the amount of $/&pound;/&euro;_________.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>E.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If an Affiliate
of Buyer that is a buyer under a participation agreement with Seller entered into as of the same day as this Agreement makes a
Pre-Elevation Transfer (whether or not such transfer is so defined under such participation agreement) of loans and commitments
(if any) under the Credit Documents subject to such participation agreement on the same day as Buyer, on substantially similar
documents and to the same Entity as Buyer:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buyer
and such Affiliate(s) of Buyer shall pay only one Participation Transfer Fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buyer
and each such Affiliate of Buyer shall pay a separate Participation Transfer Fee in respect of each such Pre-Elevation Transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-family: Wingdings">x</FONT></TD><TD STYLE="text-align: justify">Not applicable (there is no Participation Transfer Fee).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>E.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Section
10.1 Right of Buyer to sell subparticipations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-family: Wingdings">x</FONT></TD><TD STYLE="text-align: justify">Buyer may sell subparticipations in respect of the Transferred Rights without Seller&rsquo;s prior
consent. Section 10.1(b) of the Standard Terms will apply.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Buyer may not sell subparticipations in respect of the Transferred Rights without Seller&rsquo;s
prior consent. Section 10.1(b) of the Standard Terms will not apply.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>SECTION
11 (VOTING)</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>F.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>&ldquo;<U>Voting</U>&rdquo;
select one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;Buyer
shall have voting rights with respect to the Transferred Rights, subject to Section 11.1(a) of the Standard Terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Buyer
shall have no voting rights in respect of the Transferred Rights, subject to Section 11.1(b) of the Standard Terms, except with
respect to the following matters: ________________________________________________________________________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>F.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>For purposes
of determining the Majority Holders or Majority Claims Holders pursuant to Section 11.1(a) of the Standard Terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;the
interests or claims held by Seller for its own account shall be counted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;the
interests or claims held by Seller for its own account shall not be counted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="text-underline-style: double"><U>AND</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;the
interests or claims held by Affiliates of Seller shall be counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;the
interests or claims held by Affiliates of Seller shall not be counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>G.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>SECTION
15 (ELEVATION)</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>G.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Select
one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
is no Elevation Transfer Fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Elevation Transfer Fee shall be paid as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;The
</FONT>Elevation Transfer Fee shall be paid by Seller to the Agent and Buyer shall reimburse Seller in an amount equal to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;one-half
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;[other
relevant fraction or percentage] _____ thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT>Each
Elevation Transfer Fee shall be paid by Buyer to the Agent and Seller shall reimburse Buyer in an amount equal to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;one-half
thereof (which amount may be pre-funded on the date hereof through a credit to the Purchase Price with respect to each Transaction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;[other
relevant fraction or percentage] _____ thereof.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>G.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If &ldquo;No&rdquo;
is specified opposite &ldquo;Elevation&rdquo; in the Transaction Summary, then select one:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Elevation shall be permitted unless requested by Seller and otherwise subject to Section 15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Subject to Section 15, Seller may at any time request an Elevation and Buyer may request an Elevation
only in the following circumstances: ________________________________________</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">_____________________________________________________________________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>H.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION
28 (JUDGMENT CURRENCY)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The exchange rate used
for the conversion of amounts in any currency other than the Contractual Currency into amounts in the Contractual Currency shall
be determined by reference to quotations from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&#9;Seller,
or if Seller does not quote a rate of exchange on such currency, by a known dealer in such currency designated by Seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT>&#9;Buyer,
or if Buyer does not quote a rate of exchange on such currency, by a known dealer in such currency designated by Buyer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&#9;[name
of dealer], or if [name of same dealer as in first blank in this sentence] does not quote a rate of exchange on such currency,
by a known dealer in such currency designated by the mutual agreement of the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: uppercase"><U>SECTION
31 (FURTHER PROVISIONS)</U></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Representations
of Seller</U>. In addition to the representations and warranties of Seller set forth in Section 4 of the Standard Terms, Seller
hereby makes the representations and warranties set forth on Schedule IV hereto to Buyer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Further
Transfers</U>. Section 10.1(a) of the Standard Terms is hereby amended and restated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&ldquo;Buyer
may make a Pre-Elevation Transfer without the prior consent of Seller; <U>provided</U>, <U>however</U>, that no Pre-Elevation Transfer
shall be effective unless (i) such Pre-Elevation Transfer does not violate any applicable law or regulation or cause Seller to
violate or be in breach of any provision of any Transaction Document, (ii) the transferee in such Pre-Elevation Transfer (the &ldquo;<U>Transferee</U>&rdquo;)
makes to Buyer for the benefit of Seller substantially each of the representations, warranties and covenants set forth in Sections
5.1, 8.1(c) and 18.3, and (iii) the Transferee either (A) is organized under the laws of the United States or any State thereof
or (B) has (1) represented to Seller that under applicable law and treaties no taxes will be required to be withheld by Seller
with respect to any payments to be made to such Transferee in respect of the Transferred Rights and (2) shall have furnished to
Seller such forms, certifications, statements and other documents as Seller has reasonably requested or may reasonably request
from time to time to evidence the Transferee's exemption from the withholding of any tax imposed by any jurisdiction or to enable
Seller to comply with any applicable laws or regulations relating thereto.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Elevation</U>.
Section 15 of the Standard Terms is hereby amended and restated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">If (i) &ldquo;Yes&rdquo;
is specified opposite &ldquo;Elevation&rdquo; in the Transaction Summary, upon the request of either Party, or (ii) &ldquo;No&rdquo;
is specified opposite &ldquo;Elevation&rdquo; in the Transaction Summary, upon the request of the Party entitled to request an
Elevation pursuant to Section G.2 of the Transaction Specific Terms and, in the case of a request by Buyer, upon satisfaction of
the conditions set forth in Section G.2 of the Transaction Specific Terms, and, in each case, subject to the terms and provisions
of the Credit Documents and any applicable law or regulation, each Party agrees to use commercially reasonable efforts and to take
such actions as are necessary (including obtaining all Elevation Required Consents (if any)), as soon as reasonably practicable,
to cause Buyer or any actual or prospective transferee or subparticipant with respect to all or any portion of the Participation
(any such Entity or Buyer, a &ldquo;<U>Permitted Assignee</U>&rdquo;) to become a Lender under the Credit Agreement with respect
to all or any part of the Transferred Rights (an &ldquo;<U>Elevation</U>&rdquo;; and the date on which such Permitted Assignee
becomes a Lender under the Credit Agreement, the &ldquo;<U>Elevation Date</U>&rdquo;); <U>provided</U> that, (x) if any Funding
Advance or other fees or amounts shall then be due and payable or any other obligations are due and owing to Seller by Buyer, Buyer
may not request an Elevation, and (y) if an Elevation would contravene any law, rule, order or regulation applicable to either
Party, the other Party may not request an Elevation. Upon the Elevation Date, to the extent of such Elevation, (i) Buyer shall
assume all of the Assumed Obligations, (ii) Seller shall have no further responsibility in respect of such Assumed Obligations
and (iii) this Agreement shall terminate except as provided in the last sentence of Section 16. Notwithstanding the foregoing,
the occurrence of an Elevation shall not affect (a) each Party&rsquo;s rights or obligations under this Agreement, (b) the indemnities
set forth in Section 6, in each case arising on or before the Elevation Date, including, without limitation, any rights or obligations
relating to a Party&rsquo;s breach of any of its representations, warranties, covenants or agreements hereunder, (c) Seller's obligation
to deliver to Buyer any Distributions (whether received before, on or after the Elevation Date) pursuant to Section 8 of this Agreement
or (d) either Party&rsquo;s right to reimbursement of Agent Expenses pursuant to Section 7.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Grant
of Security</U>. To secure its obligations under this Agreement, Seller hereby pledges, assigns and grants to Buyer a continuing
security interest in, lien on and right of set-off against, all of its right, title and interest (if any), whether now owned or
hereafter acquired, in, to and under each Loan and the Transferred Rights subject to this Agreement and all proceeds thereof whether
now existing or hereafter arising (collectively, the &ldquo;<U>Collateral</U>&rdquo;). Seller hereby represents that (x) the creation
and perfection of the forgoing security interests by Seller are within its corporate powers and have been duly authorized by all
necessary corporate and, if required, stockholder action; and (y) the foregoing security interests constitute valid and (subject
to the filing of a financing statement in accordance with the Uniform Commercial Code as in effect in Maryland (in the form attached
hereto as Schedule III) in the office of the Maryland Department of Assessments &amp; Taxation) perfected first priority security
interests in the Collateral securing the Seller&rsquo;s obligations under this Agreement. Notwithstanding the foregoing grant,
Seller acknowledges and agrees that it has not retained any beneficial or equitable interest in the Loans that are being transferred
to Buyer pursuant to and are the subject of this Agreement. Each party hereto hereby acknowledges and consents to the pledge and
grant of a security interest in all of Buyer&rsquo;s right, title and interest in and to the Collateral and this Agreement by
Buyer to U.S. Bank National Association (&ldquo;<U>USB</U>&rdquo;), as collateral agent under that certain loan and security agreement
(the &ldquo;<U>Loan and Security Agreement</U>&rdquo;), dated August 26, 2016, among Buyer, the lenders party thereto, C&#298;ON
Investment Management, LLC, as portfolio manager, JPMorgan Chase Bank, National Association, as administrative agent and USB collateral
administrator, collateral agent and securities intermediary, for the benefit of the secured parties thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>I.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Events of Default; Remedies</U>.
Upon (i) the failure of Seller to comply with or perform any material agreement or obligation to be complied with or performed
by Seller in accordance with this Agreement, which failure has not been cured within five Business Days (or two Business Days after
the due date thereof for a failure to deliver Distributions) of Seller having been so notified by Buyer; (ii) a representation
made or repeated or deemed to have been made or repeated by Seller in this Agreement proves to have been incorrect or misleading
in any material respect; (iii)&nbsp;Seller (1) becomes insolvent or is unable to pay its debts as they become due; (2) makes a
general assignment, arrangement or composition with or for the benefit of its creditors; (3) institutes or has instituted against
it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other
similar law affecting creditors&rsquo; rights, or a petition is presented for its winding-up or liquidation, and, in the case of
any such proceeding or petition instituted or presented against it, such proceeding or petition (A) results in a judgment of insolvency
or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is not dismissed,
discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof; (4) has a resolution passed
for its winding-up, official management or liquidation; (5) seeks or becomes subject to the appointment of an administrator, provisional
liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets;
(6) has a secured party (other than the Buyer) take possession of all or substantially all its assets or has a distress, execution,
attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and
such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within
30 days thereafter; (7) causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction,
has an analogous effect to any of the events specified in clauses (1) through (6); or (8) takes any action in furtherance of, or
indicating its consent to, approval of, or acquiescence in, any of the foregoing acts; or (iv) Seller disaffirms, disclaims, repudiates
or rejects, in whole or in part, or challenges the validity of, its pledge of Collateral or its other obligations hereunder (any
of the foregoing, an &ldquo;<U>Event of Default</U>&rdquo;), Buyer may exercise (or cause its agents or co-agents, if any, to exercise)
any or all of the remedies available to it (or to such agents or co-agents) under this Agreement or applicable law. Without limiting
the generality of the foregoing, if an Event of Default shall have occurred and be continuing, Buyer may exercise, in addition
to all other rights and remedies given by law or this Agreement, all the rights and remedies of a secured party under the UCC (whether
or not in effect in the jurisdiction where such rights are exercised and whether or not the UCC applies to the affected Collateral)
with respect to any Collateral. Seller agrees that it will execute and deliver such documents and take such other action as is
necessary in order that any such sale or other disposition may be made in compliance with law. Notwithstanding the continuation
of any Event of Default hereunder, Buyer shall not have the right to cause Seller to repurchase any Loan or to otherwise retroactively
adjust any of the terms of transfer solely as a result of the performance of the Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Covenant
to Maintain Existence</U>. Seller hereby agrees to not wind-up, liquidate or dissolve at any time prior to the termination of this
Agreement in accordance with Section 15 and/or Section 16 of the Standard Terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Covenants
of the Seller</U>. The Seller hereby agrees: (i) not to consent to or otherwise cause the Seller to wind-up, liquidate or dissolve
at any time prior to the termination of this Agreement in accordance with Section 15 and/or Section 16 of the Standard Terms; and
(iv) to manage its rights related to record ownership of the Loans, the Commitments and the Transferred Rights in a manner consistent
with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Limited
Recourse of Seller Against Buyer</U>. Notwithstanding anything herein to the contrary, the parties acknowledge and agree that the
rights of recourse of Seller against Buyer shall be limited to the remaining amounts from time to time available and comprising
the assets of Buyer (other than the ordinary share capital and the transaction fee charged by Buyer) having satisfied or provided
for all other prior ranking liabilities of Buyer. Accordingly, Seller shall have no claim or recourse against Buyer in respect
of any amount which is or remains unsatisfied after the application of the funds comprising such assets of Buyer and/or representing
the proceeds of realization thereof and any remaining obligation to pay any further unsatisfied amounts shall be extinguished.
No recourse shall be had for the payment of any amount owing to Seller against any officer, member, director, employee, security
holder or incorporator of Buyer or its successors or assigns. No action may be brought against any officer, member, director, employee,
security holder or incorporator of Buyer personally. Seller agrees that it will not petition a court, or take any action or commence
any proceedings for the liquidation or the winding-up of Buyer or any other bankruptcy or insolvency proceedings with respect to
Buyer until one year and one day (or, if longer, the preference period then in effect) after the later of the termination of this
Agreement or the date on which the final payment has been made in respect of the Buyer&rsquo;s rated securities. This Section shall
survive termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>I.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Limited
Recourse of Buyer Against Seller</U>. No recourse shall be had for the payment of any amount owing to Buyer against any officer,
member, director, employee, security holder or incorporator of Seller or its successors or assigns. No action may be brought against
any officer, member, director, employee, security holder or incorporator of Seller personally. This Section shall survive termination
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>IN WITNESS WHEREOF</B>,
Seller and Buyer have executed this Agreement by their duly authorized officers or representatives as of the Agreement Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"><B>&nbsp;&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><B>SELLER</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>C&#298;ON INVESTMENT CORPORATION </B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">By:</TD>
    <TD STYLE="width: 46%; text-indent: 0in; border-bottom: Black 1pt solid"><I>/s/ Michael A. Reisner</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name: Michael A. Reisner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title: Co-President and Co-CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><B>BUYER</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>34TH STREET FUNDING, LLC</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">By:</TD>
    <TD STYLE="width: 46%; text-indent: 0in; border-bottom: Black 1pt solid"><I>/s/ Michael A. Reisner</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name: Michael A. Reisner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title: Co-President and Co-CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;<B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ANNEX TO PARTICIPATION AGREEMENT FOR
PAR/NEAR PAR TRADES<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The amount of any PIK
Interest that accreted to the principal amount of the Loans on or after the Trade Date but on or prior to the Settlement Date with
respect to each Transaction is set forth in Schedule I.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in"><B>SCHEDULE
I &ndash; TRANSACTION DETAILS FOR EACH PARTICIPATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Reserved]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">Schedule <!-- Field: Sequence; Type: UpperRoman; Name: PageNo -->I<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Schedule II &ndash;
Standard Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Reserved]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">Schedule <!-- Field: Sequence; Type: UpperRoman; Name: PageNo -->II<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Schedule III &ndash;
Form of UCC-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Reserved]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">Schedule <!-- Field: Sequence; Type: UpperRoman; Name: PageNo -->III<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>Schedule IV &ndash;
Representations and Warranties of Seller</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">Seller represents and warrants
to Buyer (as of the Settlement Date and, where specifically indicated, the Agreement Date) that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: left; text-indent: 0in">(a)</TD>
    <TD STYLE="width: 93%; text-align: justify; text-indent: 0in">Seller has not and will not grant any charge, pledge or lien or other security interest in any Loan or Participation subject to this Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(b)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">The Purchase Price paid by Buyer to Seller for the Participation represents the fair market value of such assets as of the date of determination thereof.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(c)</TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Seller will account for
        each transfer as a sale of (a) in the case of the Assignments, all right, title and interest in the related Loans and (b) in the
        case of the Participation, a beneficial interest in the related Loans and Transferred Rights, under U.S. generally accepted accounting
        principles.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(d)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">(i) Seller has not instituted, and Seller does not have pending against it, a proceeding seeking a judgment of its insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors&rsquo; rights; and Seller does not have a petition presented for its winding-up or liquidation; (ii) Seller has not and will not sell the Participation or otherwise transfer an interest in the Loans in contemplation thereof or to prevent the application of its assets in the manner described in the Bankruptcy Code or any other applicable insolvency law, and (iii) Seller is not selling the Participation to Buyer with an intent to hinder or delay payment to or defraud the creditors of Seller.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(e)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">There are no agreements, arrangements or understandings, written or otherwise, with respect to the Loans or the Transferred Rights, other than the Transaction Documents and this Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(f)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">Seller does not have the right under this Agreement, nor will Seller attempt in any way, to take any unilateral action to modify or alter the terms of any transfer of the Loans and Transferred Rights subsequent to the Settlement Date.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(g)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">No provision exists whereby the Purchase Price will be modified subsequent to the Settlement Date.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(h)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">There are no guarantees, keep-well arrangements, collateral security or other arrangements involving Seller which have the effect of a recourse provision against Seller with respect to the Transaction.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(i)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">Seller will not take any action inconsistent with Buyer&rsquo;s ownership of the Participation or, upon Elevation, the Loans. If a third party, including a potential purchaser of the Loans, should inquire, Seller will disclose that the Participation has been sold to Buyer and will claim no ownership interest in such assets.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(j)</TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On the date hereof and after
        giving effect to the Transaction, Seller is solvent, and has adequate capital or assets to carry on its business.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(k)</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">The sale of the Loans by participation pursuant to this Agreement constitutes an arm&rsquo;s length secondary market transaction customary for syndicated leveraged loans.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0in">(l)</TD>
    <TD STYLE="text-align: justify">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Seller acknowledges that
        it has no right to any surplus and is not liable for any deficiencies with respect to the Loans or the Distributions received thereunder.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P></TD></TR>
</TABLE>


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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>v448161_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION VERSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated August 26, 2016</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Portfolio Management Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">between</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">34th Street Funding, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">a Delaware limited liability company</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">C&#298;ON Investment Management, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">a Delaware limited liability company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Table of Contents</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 82%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; text-align: right"><FONT STYLE="font-size: 10pt"><B>Page</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 1</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">General Duties of the Portfolio Manager</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 2</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Duties and Obligations of the Portfolio Manager with Respect to the Administration of the Company</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 3</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Authority to Bind the Company; No Joint Venture</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 4</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Limitations Relating to Portfolio Investments</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 5</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Brokerage</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 6</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Compensation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 7</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 8</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Services to Other Companies or Accounts; Conflicts of Interest</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 9</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Duty of Care and Loyalty; Exculpation of Liability</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 10</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Indemnification</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 11</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Term of Agreement; Events Affecting the Portfolio Manager; Survival of Certain Terms; Delegation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 12</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Power of Attorney; Further Assurances</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 13</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Amendment of this Agreement; Assignment</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 14</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Notices</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 15</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Binding Nature of Agreement; Successors and Assigns</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 16</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Entire Agreement</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 17</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Costs and Expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 18</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Books and Records</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 19</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Titles Not to Affect Interpretation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 20</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Provisions Separable</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 21</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Governing Law</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 22</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Execution in Counterparts</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 23</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Third Party Rights; Benefits of Agreement</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 24</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Representations and Warranties of the Portfolio Manager</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 25</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Conflict with the Loan and Security Agreement</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 26</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Subordination</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Section 27</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">No Proceedings</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
</TABLE>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PORTFOLIO MANAGEMENT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Portfolio Management
Agreement (the &ldquo;<U>Agreement</U>&rdquo;), dated as of August 26, 2016, is made by and between <B>34TH STREET FUNDING, LLC
</B>(the &ldquo;<U>Company</U>&rdquo;), a Delaware limited liability company, and <B>C&#298;ON INVESTMENT MANAGEMENT, LLC </B>(the
&ldquo;<U>Portfolio Manager</U>&rdquo;), a Delaware limited liability company. Reference is made to that certain Loan and Security
Agreement, dated as of the date hereof, among the Company, the Portfolio Manager, the lenders party thereto (the &ldquo;<U>Lenders</U>&rdquo;),
JPMorgan Chase Bank, National Association, as administrative agent (the &ldquo;<U>Administrative</U> <U>Agent</U>&rdquo;), U.S.
Bank National Association (&ldquo;<U>USB</U>&rdquo;), as collateral agent (in such capacity, the &ldquo;<U>Collateral Agent</U>&rdquo;),
USB, as collateral administrator (in such capacity, the &ldquo;<U>Collateral Administrator</U>&rdquo;) and USB, as securities intermediary
(in such capacity, the &ldquo;<U>Securities Intermediary</U>&rdquo;) (as the same may be amended from time to time, the &ldquo;<U>Loan
and Security Agreement</U>&rdquo;). Unless otherwise specified, capitalized terms used but not otherwise defined in this Agreement
shall have the meanings given to them in the Loan and Security Agreement or if not defined therein, shall have the meanings given
to them in the Amended and Restated Limited Liability Company Agreement of the Company dated as of the date hereof (as the same
may be amended from time to time, the &ldquo;<U>Operating Agreement</U>&rdquo;). References herein to the Loan and Security Agreement
shall be applicable solely while it is in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General
Duties of the Portfolio Manager</U>. Subject to the direction and control of the Company and subject to and in accordance with
the terms of the Loan and Security Agreement, the Operating Agreement, the policies adopted or approved by the Company and the
terms of this Agreement, the Portfolio Manager agrees to (x) supervise and direct the investment and reinvestment of the Portfolio
Investments, manage, service, administer and make collections on the Portfolio Investments and perform its duties set forth herein,
and shall perform on behalf of the Company those investment and leverage-related duties and functions of the Company as shall
be assigned to the Company or the Portfolio Manager in the Loan and Security Agreement or as delegated from time to time to the
Portfolio Manager by the Company and (y) comply with all covenants and restrictions with respect to the investment activities
imposed on the Company under the Loan and Security Agreement. The Portfolio Manager shall endeavor to comply in all material respects
with all applicable federal and state laws and regulations. Subject to the foregoing, the other provisions of this Agreement and
the terms of the Loan and Security Agreement, the Portfolio Manager is hereby appointed as the Company&rsquo;s agent and attorney-in-fact
with authority to negotiate, execute and deliver all documents and agreements on behalf of the Company and to do or take all related
acts, with the power of substitution, to acquire, dispose of or otherwise take action with respect to or affecting the Portfolio
Investments, including, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;identifying
and originating Portfolio Investments to be purchased by the Company, selecting the dates for such purchases, and purchasing or
directing the purchase of such Portfolio Investments on behalf of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;identifying
Portfolio Investments owned by the Company to be sold by the Company, selecting the dates for such sales, and selling such Portfolio
Investments on behalf of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;negotiating
and entering into, on behalf of the Company, documentation providing for the purchase and sale of Portfolio Investments, including
without limitation, confidentiality agreements and commitment letters;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;structuring
the terms of, and negotiating, entering into and/or consenting to, on behalf of the Company, documentation relating to Portfolio
Investments to be purchased, held, exchanged or sold by the Company, including any amendments, modifications or supplements with
respect to such documentation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;exercising,
on behalf of the Company, rights and remedies associated with Portfolio Investments, including without limitation, rights to petition
to place an obligor or issuer in bankruptcy proceedings, to vote to accelerate the maturity of a Portfolio Investment, to waive
any default, including a payment default, with respect to a Portfolio Investment and to take any other action which the Portfolio
Manager deems necessary or appropriate in its discretion in connection with any restructuring, reorganization or other similar
transaction involving an obligor or issuer with respect to a Portfolio Investment, including without limitation, initiating and
pursuing litigation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;responding
to any offer in respect of Portfolio Investments by tendering the affected Portfolio Investments, declining such offer, or taking
such other actions as the Portfolio Manager may determine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;exercising
all voting, consent and similar rights of the Company on its behalf and advising the Company with respect to matters concerning
the Portfolio Investments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;advising
and assisting the Company with respect to the valuation and rating of the Portfolio Investments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;retaining
legal counsel and other professionals (such as financial advisers) to assist in the structuring, negotiation, documentation, administration
and modification and restructuring of Portfolio Investments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;directing,
or causing to be directed, all obligors to pay Interest Proceeds and Principal Proceeds (collectively, &ldquo;<FONT STYLE="color: black"><U>Collections</U></FONT>&rdquo;)
directly to the appropriate Account, depositing all Collections received directly by it into the appropriate Account promptly upon
receipt thereof and, promptly after receipt, into the appropriate Account, identifying all Collections received by it as Interest
Proceeds or Principal Proceeds. If notwithstanding the foregoing the Portfolio Manager at any time thereafter receives any Collections
or any other proceeds of any Portfolio Investments constituting Interest Proceeds or Principal Proceeds, the Portfolio Manager
shall direct or cause to be directed, the related obligor to make such payments to the Accounts and shall promptly, after receipt
thereof, deposit or cause to be deposited all such amounts into the appropriate Account;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;cooperating
with the Collateral Agent in connection with the preparation of the reports set forth in Exhibit B of the Loan and Security Agreement
and any supplement thereto and (i) supplying any information maintained by it that the Collateral Agent may from time to time reasonably
request with respect to the Collateral and reasonably needs to complete the reports, calculations and certificates required to
be prepared by the Collateral Agent hereunder or required to permit the Collateral Agent to perform its obligations hereunder,
and (ii) reviewing and verifying the contents of the aforesaid reports, instructions, statements and certificates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;causing
the Company to pay, perform and discharge or cause to be paid, performed and discharged promptly all (i) all federal, state, county,
city, municipal, local, foreign or other governmental taxes; (ii) all levies, assessments, charges, or claims of any governmental
entity or any claims of statutory lienholders, the nonpayment of which could give rise by operation of law to a Lien on the Portfolio
Investments or any other property of the Company and (iii) any such taxes, levies, assessment, charges or claims which constitute
a lien or encumbrance on any property of the Company (collectively, &ldquo;<FONT STYLE="color: black"><U>Charges</U></FONT>&rdquo;)
payable by it, except where the failure to so pay, discharge or otherwise satisfy such Charge would not, individually or in the
aggregate, be expected to have a Material Adverse Effect; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the Portfolio Manager&rsquo;s discretion, performing such actions on behalf of the Company as permitted in the Loan and Security
Agreement and making such determinations as necessary (in the Portfolio Manager&rsquo;s discretion) to carry out the Company&rsquo;s
business under the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In performing its duties
hereunder, the Portfolio Manager shall seek to maximize the value of the Collateral for the benefit of the Company, taking into
account the investment criteria and limitations set forth herein and in the Loan and Security Agreement; <U>provided</U>, that
the Portfolio Manager shall not be responsible if such objectives are not achieved so long as the Portfolio Manager performs its
duties under this Agreement and the Loan and Security Agreement in the manner provided for herein and therein. In no event whatsoever
shall there be recourse to the Portfolio Manager or any of its Affiliates for any amounts payable on the Advances or the other
payment obligations of the Company under the Loan and Security Agreement or any of the other documents executed and delivered by
the Company in connection with the transactions contemplated by the Loan and Security Agreement. For the avoidance of doubt, the
Portfolio Manager does not guarantee the performance of any obligations of any other Person under any Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duties
and Obligations of the Portfolio Manager with Respect to the Administration of the Company</U>. To the extent requested by the
Company, the Portfolio Manager agrees to provide the following administrative services:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;maintain
or oversee the maintenance of the books and records of the Company and maintain (or oversee maintenance by other persons) such
other books and records required by law or for the proper operation of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
the extent prepared or filed by the Company, oversee the preparation and filing, and in all events review and ensure the timely
filing, of all federal, state and local income Tax returns required to be filed by the Company and any other required Tax returns
or reports;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;review
the appropriateness of and arrange for payment of the Company&rsquo;s expenses;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prepare
for review and approval by officers and other authorized persons of the Company (collectively, the &ldquo;<FONT STYLE="color: black"><U>Authorized
Signatories</U></FONT>&rdquo;) financial information for the Company&rsquo;s financial statements (if the Company prepares separate
financial statements) and such other reports, forms and filings, as may be mutually agreed upon or as may be required by law or
the Loan and Security Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prepare
reports relating to the business and affairs of the Company as may be mutually agreed upon and not otherwise prepared by others;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
recommendations to the Company concerning the performance and fees of any of the Company&rsquo;s service providers as the Company
may reasonably request or deem appropriate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;oversee
and review calculations of fees paid to the Company&rsquo;s service providers;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;consult
with the Authorized Signatories, and the Company&rsquo;s independent accountants, legal counsel, custodian and other service providers
in establishing the accounting policies of the Company and monitor financial accounting services;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;determine
the amounts available for distribution as dividends and distributions to be paid by the Company to Parent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prepare
such information and reports as may be required under the Loan and Security Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provide
such assistance to the Company&rsquo;s custodian, counsel, auditors and other service providers as generally may be required to
properly carry on the business and operations of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;respond
to, or refer to the Company&rsquo;s officers or Authorized Signatories, inquiries relating to the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;supervise
any other aspects of the Company&rsquo;s administration as may be agreed to by the Company and the Portfolio Manager; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provide
notices, from time to time, required to be provided by the Company under the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All services are to
be furnished through the medium of any officers, Authorized Signatories or employees of the Portfolio Manager or its affiliates
as the Portfolio Manager deems appropriate in order to fulfill its obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company shall,
upon demand, reimburse the Portfolio Manager or its affiliates for all out-of-pocket expenses incurred by them in connection with
the performance of the administrative services described in this <U>Section 2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authority
to Bind the Company; No Joint Venture</U>. (a)&nbsp;&nbsp;Except as provided in or pursuant to <U>Section 1</U>, 4 and <U>12</U>
hereof, the Portfolio Manager shall have no authority to bind or obligate the Company. All acts of the Portfolio Manager (other
than as provided in the Loan and Security Agreement, the Operating Agreement or in <U>Section 1</U> or <U>Section 12</U> hereof
with respect to any Portfolio Investment) shall require the Company&rsquo;s consent and approval to bind the Company. Nothing
in this Agreement shall be deemed to create a joint venture or partnership between the parties with respect to the arrangements
set forth in this Agreement. For all purposes hereof, the Portfolio Manager shall be deemed to be an independent contractor and,
unless otherwise provided herein or specifically authorized by the Company from time to time, shall have no authority to act for
or represent the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Portfolio Manager shall act in conformity with the written instructions and directions of the Company delivered in accordance with
the terms and conditions hereof, except to the extent that authority has been delegated to the Portfolio Manager pursuant to the
terms of this Agreement or the Operating Agreement. Subject to the Fiduciary duty of the Member, the Company agrees that it shall
not permit any amendment to the Operating Agreement that materially affects the rights or duties of the Portfolio Manager to become
effective unless the Portfolio Manager has been given prior written notice of such amendment and has consented thereto in writing.
The Portfolio Manager may, with respect to the affairs of the Company, consult with such legal counsel, accountants and other advisors
as may be selected by the Portfolio Manager. The Portfolio Manager shall be fully protected, to the extent permitted by Applicable
Law, in acting or failing to act hereunder if such action or inaction is taken or not taken in good faith by the Portfolio Manager
in accordance with the advice or opinion of such counsel, accountants or other advisors. The Portfolio Manager shall be fully protected
in relying upon any writing signed in the appropriate manner with respect to any instruction, direction or approval of the Company
and may also rely on opinions of the Portfolio Manager&rsquo;s counsel with respect to such instructions, directions and approvals.
The Portfolio Manager shall also be fully protected when acting upon any instrument, certificate or other writing the Portfolio
Manager believes in good faith to be genuine and to be signed or presented by the proper person or persons. The Portfolio Manager
shall be under no duty to make any investigation or inquiry as to any statement contained in any such writing and may accept the
same as conclusive evidence of the truth and accuracy of the statements therein contained if the Portfolio Manager in good faith
believes the same to be genuine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
Relating to Portfolio Investments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Portfolio
Investments</U></FONT>. Except as otherwise provided in this <U>Section 4</U> and subject to the requirements of the Loan and Security
Agreement, the Operating Agreement and Applicable Law, the Portfolio Manager may cause the Company (which term shall include, for
all purposes relating to the purchase and sale of Portfolio Investments and the duties and obligations of the Portfolio Manager
set forth in <U>Section 1</U> hereof, the Company and its consolidated subsidiaries, if any) from time to time to purchase Portfolio
Investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Transaction,
Director, Consulting, Advisory, Closing and Break- up Fees</U></FONT>. The Company shall receive its pro-rata share, measured by
the amount invested or proposed to be invested by the Company in any Portfolio Investment, of any transaction, director, consulting,
advisory, closing and break-up fees, or similar fees (&ldquo;<FONT STYLE="color: black"><U>Additional</U></FONT><U> <FONT STYLE="color: black">Fees</FONT></U>&rdquo;)
payable with respect to any Portfolio Investment. Notwithstanding anything herein or in the Operating Agreement to the contrary,
to the extent that any Additional Fees with respect to the Company&rsquo;s share of such Investment are paid to the Portfolio Manager
or any of its Affiliates, the Portfolio Manager shall deposit such amounts, or cause such amounts to be deposited, into the Collection
Account for application as Interest Proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Other
Agreements of the Portfolio Manager</U></FONT>. The Portfolio Manager agrees to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager shall cause any purchase or sale of any Portfolio Investment to be conducted on terms and conditions no less
favorable to the Company than those available on an arm&rsquo;s length basis;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager shall provide to the Collateral Administrator all reports, data and other information (including, without limitation,
any letters of representations) that the Collateral Administrator may reasonably request in connection with its duties under the
Loan and Security Agreement, to the extent reasonably available to the Portfolio Manager; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager shall notify the Company of any change in control of the Portfolio Manager within a reasonable time after such
change in control occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Other
Obligations of the Portfolio Manager</U></FONT>. Subject to the terms of the Loan and Security Agreement and to <U>Section 9</U>
and <U>Section 10</U> hereof, the Portfolio Manager shall use commercially reasonable efforts to ensure that no action is taken
by it, and shall not willfully or in a grossly negligent manner take any action which would (a) materially adversely affect the
status of the Company for purposes of U.S. federal or state law or any other law which, in the Portfolio Manager&rsquo;s good faith
judgment, is applicable to the Company, (b) not be permitted by the Company&rsquo;s organizational documents, (c) violate any law,
rule or regulation of any governmental body or agency having jurisdiction over the Company, including, without limitation, actions
which would violate any U.S. federal, state or other applicable securities law the violation of which would adversely affect, in
any material respect, any Lender, the business, operations, assets or financial condition of the Company, or the ability of the
Portfolio Manager to perform its obligations hereunder and the Loan and Security Agreement, (d) require registration of the Company
as an &ldquo;investment company&rdquo; under the Investment Company Act of 1940, as amended, (e) adversely affect the Administrative
Agent in any material respect, (f) result in the Company violating the terms of the Loan and Security Agreement, (g) adversely
affect the interests of the Secured Parties in the pool of Collateral in any material respect (other than actions permitted hereunder
or under the Loan and Security Agreement) or (h) cause (i) the Company to take any action or make an election to classify itself
as an association taxable as a corporation for federal, state or any applicable tax purposes or (ii) otherwise cause adverse tax
consequences to the Company, it being understood that, in all circumstances, in connection with the foregoing, the Portfolio Manager
shall not be required to make any independent investigation of any facts or laws not otherwise known to it in connection with its
obligations under this Agreement and the Loan and Security Agreement or the conduct of its business generally. In addition, the
Portfolio Manager need not take such action unless arrangements satisfactory to it are made to insure or indemnify the Portfolio
Manager from any liability it may incur as a result of such action. The Portfolio Manager and its Affiliates and their respective
members, managers, directors, officers, stockholders, employees and agents shall not be liable to the Company, the Administrative
Agent, any Secured Party or any other Person except as provided in <U>Section 9</U> and <U>Section 10</U>. The Portfolio Manager
covenants that it shall comply in all material respects with Applicable Laws and regulations relating to its performance under
this Agreement. Notwithstanding anything contained in this Agreement to the contrary, any indemnification of the Portfolio Manager
provided for in this <U>Section 4</U> shall be payable by the Company in accordance with the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Brokerage</U>.
The Portfolio Manager shall use commercially reasonable efforts to effect all purchases and sales of securities in a manner consistent
with the principles of best execution. Subject to the objective of obtaining the best execution, the Portfolio Manager may, in
the allocation of business, take into consideration all factors that it deems relevant, including, without limitation, the price,
the size of the transaction, the nature of the market for the security, the amount of the commission, the amount of any assignment
or transaction fees, the timing of the transaction taking into account market prices and trends, the reputation, experience and
financial stability of the broker or dealer involved, the quality of service rendered by the broker or dealer in other transactions
and other research and other brokerage services furnished to the Portfolio Manager or its Affiliates by brokers and dealers, in
connection with the duties of the Portfolio Manager hereunder or otherwise, in each case in compliance with Section 28(e) of the
Securities Exchange Act of 1934, as amended. In this regard, the Portfolio Manager may effect transactions which cause the Company
to pay a commission in excess of a commission which another broker or other intermediary would have charged; <U>provided</U>,
<U>however</U>, that the Portfolio Manager shall have first determined that such commission is reasonable in relation to the value
of the brokerage or research services performed by that broker or other intermediary or that the Company is the sole beneficiary
of the services provided. Such brokerage services may be used by the Portfolio Manager or its Affiliates in connection with its
other advisory activities or investment operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation</U>.
The Company agrees to pay to the Portfolio Manager on each Interest Payment Date, each Additional Distribution Date and the Maturity
Date, and the Portfolio Manager agrees to accept as compensation for all services rendered by the Portfolio Manager as such, to
the extent not waived or deferred, an amount as agreed to by the Company and the Portfolio Manager, from time to time, not to
exceed, with respect to each Calculation Period, 0.50% per annum <U>multiplied by</U> the daily average aggregate principal amount
of the Portfolio Investments during such Calculation Period (the &ldquo;<U>Management Fee</U>&rdquo;). The Management Fee will
be calculated on the basis of a calendar year consisting of 360 days and the actual number of days elapsed. The Portfolio Manager
may waive the Management Fee payable in respect of any Calculation Period in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>.
Other than as set forth below, the Company will be responsible for paying all of its expenses. On behalf of the Company, the Portfolio
Manager may advance payment of any expenses, and the Company shall, upon request, reimburse the Portfolio Manager therefor within
30 days following written request from the Portfolio Manager. Nothing in this <U>Section 7</U> shall limit the ability of the
Portfolio Manager to be reimbursed by any Person other than the Company (including issuers or obligors of securities, instruments
or obligations owned by the Company) for out-of-pocket expenses incurred by the Portfolio Manager in connection with the performance
of services hereunder. The Portfolio Manager shall maintain complete and accurate records with respect to costs and expenses and
shall furnish the Company with receipts or other written vouchers with respect thereto upon request of the Company. The Company
shall bear the reasonable costs and expenses of all audits and inspections permitted by Section 6.02 of the Loan and Security
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Services
to Other Companies or Accounts; Conflicts of Interest</U>. (a)&nbsp;&nbsp;The Portfolio Manager and its Affiliates, employees
or associates are in no way prohibited from, and intend to, spend substantial business time in connection with other businesses
or activities, including, but not limited to, managing investments, advising or managing entities whose investment objectives
are the same as or overlap with those of the Company, participating in actual or potential investments of the Company, providing
consulting, merger and acquisition, structuring or financial advisory services, including with respect to actual, contemplated
or potential investments of the Company, or acting as a director, officer or creditors&rsquo; committee member of, advisor to,
or participant in, any corporation, company, trust or other business entity. The Portfolio Manager and its Affiliates may, and
expect to, receive fees or other compensation from third parties for any of these activities unrelated to the Company, which fees
will be for the benefit of their own account and not the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the Portfolio Manager and its Affiliates may manage other investment vehicles and separate accounts (&ldquo;<FONT STYLE="color: black"><U>Other
Accounts</U></FONT>&rdquo;) that invest in assets eligible for purchase by the Company. The Company may have the ability, under
certain circumstances, to take certain actions that would have an adverse effect on Other Accounts. In these circumstances, the
Portfolio Manager and its affiliated persons will act in a manner believed to be equitable to the Company and such Other Accounts,
including co-investment in accordance with applicable laws, including the conditions of any exemptive relief obtained by the Company
and the Portfolio Manager. The allocation of investment opportunities among the Company and Other Accounts will be made in good
faith pursuant to the Portfolio Manager&rsquo;s written allocation policies. The Portfolio Manager may combine purchase or sale
orders on behalf of the Company with orders for Other Accounts, and allocate the assets so purchased or sold among such accounts
in an equitable manner. The Company may invest in portfolio companies in which Other Accounts have or are concurrently making the
same investment or a different investment <FONT STYLE="color: black"><I>(e.g.,</I></FONT> an investment that is junior to the Company&rsquo;s
investment). In such situations, the Company and the Other Accounts may potentially have conflicting interests. If any matter arises
that the Portfolio Manager determines in its good faith judgment constitutes an actual conflict of interest, the Portfolio Manager
may take such actions as may be necessary or appropriate to ameliorate the conflict. These actions may include, by way of example
and without limitation, disposing of the asset giving rise to the conflict of interest, appointing an independent fiduciary, or
delegating decisions relating to the asset giving rise to the conflict of interest to a subcommittee of the Portfolio Manager.
The Portfolio Manager shall have no liability arising out of such potential or actual conflicts of interest; <FONT STYLE="color: black"><U>provided</U>,</FONT>
that nothing in this <U>Section 8(b)</U> shall be construed as altering the duties of the Portfolio Manager as set forth in this
Agreement or any other Loan Document or the requirements of any law, rule, or regulation applicable to the Portfolio Manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
purchase or disposition of a Portfolio Investment shall be made on terms no less favorable to the Company than those available
on an arm&rsquo;s length basis. Any purchase or disposition of a Portfolio Investment effected on behalf of the Company with the
Portfolio Manager or any Affiliate thereof will be effected in accordance with all applicable laws and on terms as favorable to
the Company as would be the case if such Person were not so affiliated.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duty
of Care and Loyalty; Exculpation of Liability</U>. The Portfolio Manager shall exercise its discretion and authority in accordance
with Applicable Law, the terms of the Loan Documents, all customary and usual servicing practices for loans similar to the Portfolio
Investments and (i) with reasonable care, using a degree of skill and diligence not less than that with which the Company or Portfolio
Manager, as applicable, services and administers loans for its own account or for the account of its Affiliates having similar
lending objectives and restrictions, and (ii) to the extent not inconsistent with clause (i), in a manner consistent with the
customary standards, policies and procedures followed by institutional managers of national standing relating to assets of the
nature and character of the Portfolio Investments and without regard to any relationship that the Portfolio Manager or any Affiliate
thereof may have with any underlying obligor or any Affiliate of an obligor. The Portfolio Manager assumes no responsibility under
this Agreement or any other Loan Document other than to render the services called for hereunder and under the terms thereunder,
subject to the standard of conduct described in the next succeeding sentence, and shall not be responsible for (i) any action
of the Company or the Collateral Agent in following or declining to follow any advice, recommendation or direction of the Portfolio
Manager or (ii) any action taken or omitted to be taken by the Portfolio Manager at the express direction of the Company, the
Collateral Agent, the Administrative Agent, any Lender or any Secured Party or any other Person entitled under the Loan and Security
Agreement to give direction to the Portfolio Manager. The Portfolio Manager and its Affiliates and their respective principals,
partners, members, stockholders, directors, managers, managing directors, officers, employees and agents shall not be liable to
the Company, the Collateral Agent, the Administrative Agent, any Lender or any Secured Party or any other Person for any Losses
(as defined below) incurred, or for any decrease in the value of the Portfolio Investments, as a result of the actions taken or
recommended, or for any omissions (including any failure to act if such action would be prohibited by the Loan Documents or this
Agreement), by the Portfolio Manager or its Affiliates or their respective principals, partners, members, stockholders, directors,
managers, managing directors, officers, employees or agents under this Agreement or any Loan Document, except by reason of acts
or omissions which constitute bad faith, willful misconduct or gross negligence in the performance of, or reckless disregard with
respect to, its obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.
(a) To the fullest extent permitted by Applicable Law, the Company
shall be held harmless and indemnified by the Portfolio Manager against any claims, demands, costs, liabilities and expenses,
including amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and counsel fees incurred by the
Company (&ldquo;<FONT STYLE="color: black"><U>Losses</U></FONT>&rdquo;) in connection with the defense or disposition of any action,
suit or other proceeding, whether civil or criminal, before any court or administrative or investigative body in which the Company
may be or may have been involved as a party or otherwise or with which the Company may be or may have been threatened, while acting
in connection with the establishment, management or operations of the Company or the management of the Portfolio Investments,
<FONT STYLE="color: black"><U>provided</U>,</FONT> <FONT STYLE="color: black"><U>however</U>,</FONT> to the fullest extent permitted
by Applicable Law, that the Company shall not be indemnified hereunder if there has been a determination by a final decision on
the merits by a court or other body of competent jurisdiction before whom the issue of entitlement to indemnification was brought
that such Losses have been primarily attributable to the Company&rsquo;s willful misfeasance, bad faith, gross negligence in performance,
or reckless disregard, of its obligations; <FONT STYLE="color: black"><U>provided</U> <U>further</U>,</FONT> that the Portfolio
Manager will not be required to indemnify the Company with respect to any Losses (i) arising out of an action or claim brought
against the Company by the Portfolio Manager or its Affiliates, or (ii) resulting from the performance or non-performance of the
Portfolio Investments. In no event shall the Portfolio Manager be liable for any consequential, punitive, exculpatory or treble
damages or lost profits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indemnification under
this <U>Section 10(a)</U> shall survive the termination of this Agreement and shall include reasonable fees and expenses of counsel
and expenses of litigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 45pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 45pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the fullest extent permitted by Applicable Law, each of the Portfolio Manager, and its Affiliates, or any officer, director, member,
manager, employee, stockholder, assign, representative or agent of any such Person (each an &ldquo;<U>Indemnified Person</U>,&rdquo;
and collectively, the &ldquo;<U>Indemnified Persons</U>&rdquo;) shall be held harmless and indemnified by the Company (the &ldquo;<U>Indemnifying
Party</U>&rdquo;) (solely out of the Portfolio Investments and in accordance with the Loan and Security Agreement, and not (solely
for the purposes of this Agreement) out of the separate assets of the Parent) against any claims, demands, costs, liabilities and
expenses, including amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and counsel fees incurred
by such Indemnified Person in connection with the defense or disposition of any action, suit or other proceeding, whether civil
or criminal, before any court or administrative or investigative body in which such Indemnified Person may be or may have been
involved as a party or otherwise (other than as authorized by the directors of the Parent, as the plaintiff or complainant) or
with which such Indemnified Person may be or may have been threatened, while acting in such Person&rsquo;s capacity as an Indemnified
Person in connection with the establishment, management or operations of the Company or the management of the Portfolio Investments,
provided, however, that an Indemnified Person shall not be indemnified hereunder if and to the extent resulting from such Indemnified
Person&rsquo;s bad faith, fraud, willful misfeasance, gross negligence or reckless disregard; provided further, that the Company
will not be required to indemnify the Indemnified Persons with respect to any Losses (i) arising out of an action or claim brought
against any Indemnified Person by the Company or its Affiliates, or (ii) resulting from the performance or non-performance of the
Portfolio Investments. Any payments pursuant to <U>Section 10<FONT STYLE="color: black">(b)(i)</FONT></U> while the Loan and Security
Agreement is in effect will be paid solely in accordance with the Loan and Security Agreement (subject to the availability of funds
and to the conditions set forth in the Loan and Security Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
rights accruing to the Company or any Indemnified Person under these provisions shall not exclude any other right to which the
Company or such Indemnified Person may be lawfully entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Indemnified Person (other than the Portfolio Manager) shall, in the performance of its duties, be fully and completely justified
and protected with regard to any act or any failure to act resulting from reliance in good faith upon the books of account or other
records of the Company, upon an opinion of counsel, or upon reports made to the Company by any of the Company&rsquo;s officers
or employees or by any advisor, administrator, manager, distributor, selected dealer, accountant, appraiser or other expert or
consultant selected with reasonable care by the directors of the Parent, officers or employees of the Company, regardless of whether
such counsel or other person may also be a director of the Parent. The Portfolio Manager shall, in the performance of its duties,
be fully and completely justified and protected with regard to any act or any failure to act resulting from reliance in good faith
upon any books of account or other records of the Company that were prepared by an agent or other third party, upon an opinion
of counsel, or upon reports made to the Company by any advisor, administrator, manager, distributor, selected dealer, accountant,
appraiser or other expert or consultant selected with reasonable care by the directors of the Parent, officers or employees of
the Company, regardless of whether such counsel or other person may also be a director of the Parent. The Company shall, in the
performance of its duties, be fully and completely justified and protected with regard to any act or any failure to act resulting
from reliance in good faith upon its books of account or other records of the Company prepared by a third party; <U>provided</U>
such third party is an advisor, administrator, manager, distributor, selected dealer, accountant, appraiser or other expert or
consultant selected by the Company with reasonable care.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any Indemnified Person shall, without the prior written consent of the Portfolio Manager or the Indemnifying Party,
as applicable, which consent shall not be unreasonably withheld or delayed, settle or compromise any claim giving rise to a claim
for indemnity hereunder, or permit a default or consent to the entry of any judgment in respect thereof, unless such settlement,
compromise or consent includes, as an unconditional term thereof, the giving by the claimant to the Portfolio Manager or the Indemnifying
Party, as applicable, of a release from liability substantially equivalent to the release given by the claimant to the Company
or such Indemnified Person in respect of such claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the Company or any Indemnified Person waives its right to indemnification hereunder, the Portfolio Manager or the
Indemnifying Party, as applicable, shall not be entitled to appoint counsel to represent the Company or such Indemnified Person
nor shall the Portfolio Manager or the Indemnifying Party, as applicable, reimburse the Company or such Indemnified Person for
any costs of counsel to the Company or such Indemnified Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Term
of Agreement; Events Affecting the Portfolio Manager; Survival of Certain Terms; Delegation</U>. (a)&nbsp;&nbsp;This Agreement
shall become effective as of the date hereof and, unless sooner terminated by the Company or the Portfolio Manager as provided
herein, shall continue in effect during the existence of the Company. Notwithstanding the foregoing, this Agreement may be terminated
by the Company without the payment of any penalty, upon the occurrence of a &ldquo;cause&rdquo; event. A &ldquo;cause&rdquo; event
for purposes of this <U>Section 11(a)</U> shall have occurred by reason of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
conviction (or plea of no contest) for a felony of the Portfolio Manager;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
conviction (or plea of no contest) for a felony of an officer or a member of the board of directors of the Portfolio Manager, if
the employment or other affiliation of such Person so convicted is not terminated by the Portfolio Manager within 30 days of such
conviction and the Parent votes thereafter to invoke this termination provision;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager or an officer or a member of the board of directors of the Portfolio Manager has engaged in gross negligence
or willful misconduct with respect to the Company that has resulted in a material adverse effect on the Company or the Portfolio
Investments, or has committed a knowing material violation of securities laws, each as determined by a final decision of a court
or binding arbitration decision unless, in the case of such natural persons, their employment or other affiliation with the Portfolio
Manager is terminated or suspended within 30 days after discovery by the Portfolio Manager;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager shall willfully violate or breach any material provision of this Agreement or the Loan and Security Agreement
applicable to it;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager shall violate or breach any provision of this Agreement or any term of the Loan and Security Agreement applicable
to it (including, but not limited to, any breach of a material representation, warranty or certification of the Portfolio Manager
hereunder or thereunder, but other than as covered in <U>Section 11(a)(iv)</U>, and it being understood that the failure of the
Borrowing Base Test or any Eligibility Criteria or the occurrence of a Market Value Event is not a violation or breach, other than
a willful violation or breach of the Eligibility Criteria at the time of the acquisition of any Portfolio Investment), which violation
or breach (1) has a material adverse effect on the Lenders and (2) if capable of being cured, is not cured within 30 days of the
Portfolio Manager becoming aware of, or its receiving notice from the Company or the Administrative Agent of, such violation or
breach, or, if such violation or breach is not capable of being cured within 30 days but is capable of being cured in a longer
period, it fails to cure such violation or breach within the period in which a reasonably prudent person could cure such violation
or breach, but in no event greater than 60 days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Portfolio Manager is wound up or dissolved or there is appointed over it or a substantial part of its assets a receiver, administrator,
administrative receiver, trustee or similar officer; or the Portfolio Manager (i) ceases to be able to, or admits in writing its
inability to, pay its debts as they become due and payable, or makes a general assignment for the benefit of, or enters into any
composition or arrangement with, its creditors generally; (ii) applies for or consents (by admission of material allegations of
a petition or otherwise) to the appointment of a receiver, trustee, assignee, custodian, liquidator or sequestrator (or other similar
official) of the Portfolio Manager or of any substantial part of its properties or assets, or authorizes such an application or
consent, or proceedings seeking such appointment are commenced without such authorization, consent or application against the Portfolio
Manager and continue undismissed for 60 days; (iii) authorizes or files a voluntary petition in bankruptcy, or applies for or consents
(by admission of material allegations of a petition or otherwise) to the application of any bankruptcy, reorganization, arrangement,
readjustment of debt, insolvency or dissolution, or authorizes such application or consent, or proceedings to such end are instituted
against the Portfolio Manager without such authorization, application or consent and are approved as properly instituted and remain
undismissed for 60 days or result in adjudication of bankruptcy or insolvency; or (iv) permits or suffers all or any substantial
part of its properties or assets to be sequestered or attached by court order and the order remains undismissed for 60 days; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
occurrence of any event specified in clause (a) of the definition of Event of Default in the Loan and Security Agreement which
default is primarily the result of any act or omission of the Portfolio Manager resulting from a breach of its duties under this
Agreement or under the Loan and Security Agreement (but not as a result of any default of any Collateral Obligation).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Portfolio Manager
shall promptly provide written notice to the Member upon the occurrence of a &ldquo;cause&rdquo; event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything herein to the contrary, <U>Section 7</U><FONT STYLE="color: black">,</FONT> <U>Section 9</U> and <U>Section 10</U> of
this Agreement shall survive any termination hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
and after the effective date of termination of this Agreement, the Portfolio Manager and its Affiliates shall not be entitled to
compensation for further services hereunder, but shall be paid all compensation and reimbursement of expenses accrued to the date
of termination. Upon such termination and upon request by the Borrower, the Portfolio Manager shall deliver as directed copies
of all documents, books, records and other information prepared and maintained by or on behalf of the Company with respect to an
Portfolio Investment (&ldquo;<FONT STYLE="color: black"><U>Records</U></FONT>&rdquo;) within five Business Days after demand therefor
and a computer tape or diskette (or any other means of electronic transmission acceptable to the successor portfolio manager) containing
as of the close of business on the date of demand all of the data maintained by the Portfolio Manager in computer format in connection
with managing the Portfolio Investments. The Portfolio Manager agrees to use reasonable efforts to cooperate with any successor
portfolio manager in the transfer of its responsibilities hereunder, and will, among other things, provide upon receipt of a written
request by such successor portfolio manager any information available to it regarding any Portfolio Investments. The Portfolio
Manager agrees that, notwithstanding any termination, it will reasonably cooperate in any proceeding arising in connection with
this Agreement, the Loan and Security Agreement or any Portfolio Investment (excluding any such proceeding in which claims are
asserted against the Portfolio Manager or any Affiliate of the Portfolio Manager) upon receipt of appropriate indemnification in
accordance with <U>Section 10</U> and expense reimbursement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
a successor portfolio manager has commenced investment management activities in the place of <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT>
Investment Management, LLC, <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC shall not resign
as Portfolio Manager hereunder. Notwithstanding anything contained herein to the contrary and to the extent permitted by Applicable
Law without causing the Portfolio Manager to have liability, the resignation of the Portfolio Manager shall not become effective
until an entity approved by the Company and the Member and shall have assumed the responsibilities and obligations of the Portfolio
Manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the avoidance of doubt, none of the Administrative Agent nor any Lender shall have the right to remove the Portfolio Manager under
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Power
of Attorney; Further Assurances</U>. In addition to the power of attorney granted to the Portfolio Manager in <U>Section 1</U>
of this Agreement, the Company hereby makes, constitutes and appoints the Portfolio Manager, with full power of substitution,
as its true and lawful agent and attorney-in-fact, with full power and authority in its name, place and stead, in accordance with
the terms of this Agreement (a) to sign, execute, certify, swear to, acknowledge, deliver, file, receive and record any and all
documents which the Portfolio Manager reasonably deems necessary or appropriate in connection with its investment management duties
under this Agreement and (b) to (i) subject to any policies adopted by the Parent or the Company with respect thereto, exercise
in its discretion any voting or consent rights associated with any securities, instruments or obligations included in the Company&rsquo;s
assets, (ii) execute proxies, waivers, consents and other instruments with respect to such securities, instruments or obligations,
(iii) endorse, transfer or deliver such securities, instruments and obligations and (iv) participate in or consent (or decline
to consent) to any modification, work-out, restructuring, bankruptcy proceeding, class action, plan of reorganization, merger,
combination, consolidation, liquidation or similar plan or transaction with regard to such securities, instruments and obligations.
To the extent permitted by Applicable Law, this grant of power of attorney is irrevocable and coupled with an interest, and it
shall survive and not be affected by the subsequent dissolution or bankruptcy of the Company; <U>provided</U> that this grant
of power of attorney will expire, and the Portfolio Manager will cease to have any power to act as the Company&rsquo;s attorney-in-fact,
upon termination of this Agreement in accordance with its terms. The Company shall execute and deliver to the Portfolio Manager
all such other powers of attorney, proxies, dividend and other orders, and all such instruments, as the Portfolio Manager may
reasonably request for the purpose of enabling the Portfolio Manager to exercise the rights and powers which it is entitled to
exercise pursuant to this Agreement. Each of the Portfolio Manager and the Company shall take such other actions, and furnish
such certificates, opinions and other documents, as may be reasonably requested by the other party hereto in order to effectuate
the purposes of this Agreement and to facilitate compliance with applicable laws and regulations and the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
of this Agreement; Assignment</U>. (a) No provision of this Agreement
may be amended, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against which
enforcement of the amendment, waiver, discharge or termination is sought and with the prior written consent of the Administrative
Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Neither the failure nor
any delay on the part of any party hereto to exercise any right, remedy, power or privilege under this Agreement shall operate
as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further
exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege
with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence.
No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Portfolio Manager may not, directly or indirectly, assign all or any part of its rights and duties under this Agreement to any
Person without the prior consent of the Company; <U>provided</U>, <U>however</U>, that the no such consent shall be required in
connection with (x) an assignment of the role of Portfolio Manager to an Affiliate of <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT>
Investment Management, LLC or (y) a merger of <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Management, LLC
with another business development company sponsored by <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT> Investment Corp.
or other fundamental change transaction the result of which effectively combines the ownership and/or assets of <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT>
Investment Management, LLC and a business development company sponsored by <FONT STYLE="text-transform: uppercase">C&#298;ON</FONT>
Investment Corp., or merges or consolidates their respective collateral advisors or sub-advisors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
Unless expressly provided otherwise herein, any notice, request, direction, demand or other communication required or permitted
under this Agreement shall be in writing and shall be deemed to have been duly given, made and received if sent by hand or by
overnight courier, when personally delivered, if sent by telecopier, when receipt is confirmed by telephone, or if sent by registered
or certified mail, postage prepaid, return receipt requested, when actually received if addressed as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">34th Street Funding, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">3 Park Avenue, 36th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">Attention: Credit Team</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">Email: CIONAgentNotices@iconinvestments.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
to the Portfolio Manager:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="text-transform: uppercase">C&#298;ON</FONT>
Investment Management, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">3 Park Avenue, 36th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left">New York, New York 10016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Attention: Keith Franz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">Email: Kfranz@iconinvestments.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
to the Administrative Agent, the Collateral Agent, the Collateral Administrator or any Lender under the Loan and Security Agreement,
as provided in the Loan and Security Agreement, as may be amended therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Either party to this Agreement may alter
the address to which communications or copies are to be sent to it by giving notice of such change of address in conformity with
the provisions of this <U>Section 14</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Nature of Agreement; Successors and Assigns</U>. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns as provided herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. This Agreement contains the entire agreement and understanding between the parties hereto with respect to the subject
matter hereof, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or
implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. The express terms hereof control
and supersede any course of performance or usage of the trade inconsistent with any of the terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs
and Expenses</U>. The costs and expenses (including the fees and disbursements of counsel and accountants) incurred in connection
with the negotiation, preparation and execution of this Agreement, and all matters incident thereto, shall be borne by each party
hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Books
and Records</U>. In compliance with the requirements of Rule 31a-3 under the Investment Company Act of 1940, as amended, the Portfolio
Manager hereby agrees that all records which it maintains for the Company are the property of the Company and further agrees to
surrender promptly to the Company any such records upon the Company&rsquo;s request. The Portfolio Manager further agrees to preserve
for the periods prescribed by Rule 31a-2 under the Investment Company Act of 1940, as amended the records maintained by it in
its capacity as Portfolio Manager that are required to be maintained by Rule 31a-1 under the Investment Company Act of 1940, as
amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Titles
Not to Affect Interpretation</U>. The titles of sections contained in this Agreement are for convenience only, and they neither
form a part of this Agreement nor are they to be used in the construction or interpretation hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Provisions
Separable</U>. The provisions of this Agreement are independent of and separable from each other, and, to the extent permitted
by Applicable Law, no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason
any other or others of them may be invalid or unenforceable in whole or in part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Execution
in Counterparts</U>. This Agreement may be executed in separate counterparts, each of which shall be an original and all of which
taken together shall constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third
Party Rights; Benefits of Agreement</U>. Other than as set forth in this <U>Section 23</U>, none of the provisions of this Agreement
shall be for the benefit of or enforceable by any creditor of the Company or by any creditor of the Member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Portfolio Manager
hereby acknowledges that (a) the Collateral Agent is the beneficiary of a collateral assignment of this Agreement pursuant to Section
8.02 of the Loan and Security Agreement and (b) the Administrative Agent shall be an express third party beneficiary of <U>Sections
1</U>, <U>2</U>, <U>4</U>, <U>9</U>, <U>10</U>, <U>13</U>, <U>23</U>, <U>24</U>, <U>25</U>, <U>26</U> and <U>27</U>, subject, in
the case of clause (a), to each of the limitations, restrictions and conditions set forth in the Loan and Security Agreement with
respect to the collateral assignment of this Agreement, and for the avoidance of doubt, excluding any right of the Company to replace
or terminate the Portfolio Manager; <U>provided</U> that, such collateral assignment and such third party beneficiary rights shall
automatically terminate upon the irrevocable payment in full of the Secured Obligations (other than contingent indemnity obligations
as to which no claim has been made) and the termination of the Financing Commitments in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties of the Portfolio Manager</U>. The Portfolio Manager represents, warrants and covenants as of the Effective Date
and each Trade Date (and such other date as may be expressly set forth below) as to itself:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Due
Qualification</U></FONT>. It is duly qualified to do business as a Delaware limited liability company in good standing and has
obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would have a Material Adverse Effect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Investment
Company Status</U></FONT>. It is not required to be registered as an &ldquo;investment company&rdquo; within the meaning of the
Investment Company Act of 1940, as amended;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Information
True and Correct</U></FONT>. All information heretofore or hereafter furnished by or on behalf of the Portfolio Manager in writing
to any Lender, the Collateral Agent, the Collateral Administrator or the Administrative Agent in connection with this Agreement
or any transaction contemplated hereby (including for use in any Notice of Acquisition delivered under the Loan and Security Agreement)
is and will be (when taken as a whole) true, complete and correct in all material respects as of the date furnished; <U>provided</U>
that, to the extent any such information was furnished to the Portfolio Manager by an un-Affiliated third part, such information
is as of its delivery date true, complete and correct in all material respects to the knowledge of the Portfolio Manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Eligibility
of Portfolio Investments</U></FONT>. As of the Trade Date and Settlement Date for each Portfolio Investment purchased, such Portfolio
Investment meets all of the applicable Eligibility Criteria (unless otherwise consented to by the Administrative Agent) and, except
as otherwise permitted under the Loan and Security Agreement, the Concentration Limitations shall be satisfied (unless otherwise
consented to by the Administrative Agent).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Collections</U></FONT>.
The Portfolio Manager acknowledges that all amounts received by it or its Affiliates with respect to the Collateral are held and
shall be held in trust for the benefit of the Secured Parties until deposited into the Collection Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black"><U>Allocation
of Charges</U></FONT>. There is not any agreement or understanding between the Portfolio Manager and the Company (other than as
expressly set forth herein or as consented to by the Administrative Agent), providing for the allocation or sharing of obligations
to make payments or otherwise in respect of any Taxes, fees, assessments or other governmental charges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conflict
with the Loan and Security Agreement</U>. In the event that this Agreement requires any action to be taken with respect to any
matter and the Loan and Security Agreement requires that a different action be taken with respect to such matter, and such actions
are mutually exclusive, the provisions of the Loan and Security Agreement in respect thereof shall control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subordination</U>.
The Portfolio Manager agrees that the payment of all amounts to which it is entitled pursuant to this Agreement shall be subordinated
to the extent set forth in, and the Portfolio Manager agrees to be bound by the provisions of, the Loan and Security Agreement
(including, without limitation, the Priority of Payments).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section 27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Proceedings</U>. The Portfolio Manager hereby agrees that it will not institute against the Company, or join any other Person
in instituting against the Company, any insolvency proceeding (namely, any proceeding of the type referred to in clause (d) or
(e) of the definition of Event of Default) so long as any Advances or other amounts due from the Company under the Loan Documents
shall be outstanding or there shall not have elapsed one year plus one day since the last day on which any such Advances or other
amounts shall be outstanding. The foregoing shall not limit the Portfolio Manager&rsquo;s right to file any claim in or otherwise
take any action with respect to any insolvency proceeding that was instituted by any Person other than the Portfolio Manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>IN WITNESS WHEREOF</B>, the parties hereto
have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">34TH STREET FUNDING, LLC, as Company</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By</TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><I>/s/ Michael A. Reisner</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Michael A. Reisner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: Co-President and Co-CEO</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="text-transform: uppercase">C&#298;ON investment management, llc</FONT>, as Portfolio Manager</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><I>/s/ Michael A. Reisner</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Michael A. Reisner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: Co-President and Co-CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>v448161_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">GUARANTEE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">C&#298;ON INVESTMENT CORPORATION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">C&#298;ON INVESTMENT
CORPORATION, a Maryland corporation, hereby agrees to unconditionally and irrevocably guarantee (this &ldquo;<U>Guarantee</U>&rdquo;)
to (a) 34th Street Funding, LLC, a Delaware limited liability company (&ldquo;<U>34th Street Funding</U>&rdquo;), and to each assignee
and pledgee of 34th Street Funding and (b) JPMorgan Chase Bank, National Association, in its capacity as administrative agent (in
such capacity, the &ldquo;<U>Administrative Agent</U>&rdquo; and, together with 34<SUP>th</SUP> Street Funding, the &ldquo;<U>Guaranteed
Parties</U>&rdquo;) under that certain loan and security agreement, dated as of August 26, 2016 (the &ldquo;<U>Loan and Security
Agreement</U>&rdquo;), by and among 34th Street Funding, as borrower, C&#298;ON Investment Management, LLC (&ldquo;<U>CIM</U>&rdquo;),
as portfolio manager, the lenders party thereto, the Administrative Agent and U.S. Bank National Association (&ldquo;<U>USB</U>&rdquo;),
as collateral agent (in such capacity, the &ldquo;<U>Collateral Agent</U>&rdquo;), as collateral administrator and as securities
intermediary, the due and punctual payment and performance of all covenants, agreements, indemnities and other obligations (collectively,
the &ldquo;<U>Guaranteed Obligations</U>&rdquo;) of CIM under the Portfolio Management Agreement, dated as of August 26, 2016 (as
may be further amended, modified or supplemented from time to time, the &ldquo;<U>Portfolio Management Agreement</U>&rdquo;), by
and between 34th Street Funding and CIM. This Guarantee is an irrevocable, absolute, unconditional and continuing guarantee of
the full and punctual performance of all Guaranteed Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The undersigned hereby
waives any presentment, demand of payment, protest and notice of nonpayment, dishonor or protest thereof or of any exchange, sale,
surrender, release or any other notice or demand to which the undersigned may otherwise be entitled. The undersigned shall not
be exonerated or discharged from liability hereunder by any time or grace period given to CIM or by any other indulgence or concession
granted to CIM, including, without limitation, any such period, indulgence or concession whatsoever affecting or preventing a recovery
of any of the Guaranteed Obligations that, but for this provision, might operate to exonerate or discharge the undersigned, from
its obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The undersigned further
agrees that its liabilities hereunder shall be irrevocable and unconditional and in no way be affected, impaired, released, reduced
or discharged by reason of the occurrence of any of the following, although without further notice to or consent of the undersigned,
(i) any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership or trusteeship
affecting CIM or the undersigned; (ii) any claim, defense or right of set-off of CIM, the undersigned or any other person may have
against the Guaranteed Parties; or (iii) any other circumstances that might otherwise constitute a defense available to, or a discharge
of, CIM or the undersigned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Notice of acceptance
of this Guarantee and of the incurring of any or all of the Guaranteed Obligations is hereby waived by the undersigned, and this
Guarantee and all of the terms and provisions hereof shall immediately be binding upon the undersigned from the date of the execution
of this Guarantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Guaranteed Parties
may enforce the undersigned&rsquo;s obligations hereunder without in any way first pursuing or exhausting any other rights or remedies
which the Guaranteed Parties may have against CIM or against any other person, firm or corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If demand shall have
been made for payment or performance of any of the Guaranteed Obligations hereunder or if an event resulting in any of the Guaranteed
Obligations becoming payable or performable shall at any time have occurred and the Guaranteed Obligations becoming payable or
performable shall at such time be prevented by reason of the pendency against CIM of a case or proceeding under any bankruptcy
or insolvency law, the undersigned agrees that, for purposes of this Guarantee and its obligations hereunder, the Guaranteed Obligations
shall be deemed to have become payable or performable and the undersigned shall forthwith pay or perform the Guaranteed Obligations,
without any further notice or demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The undersigned expressly
waives any and all rights of subrogation, reimbursement, contribution, exoneration and indemnity (contractual, statutory or otherwise)
arising from the existence or performance of this Guarantee and the undersigned irrevocably waives any right to enforce any remedy
that the Guaranteed Parties now have or may hereafter have against CIM, or any other person, and waives any benefit of, and any
right to participate in, any security now or hereafter held by the Guaranteed Parties, in each case, until such time as the Guaranteed
Obligations have been finally and indefeasibly paid in full in cash to the Guaranteed Parties. The provisions of this paragraph
shall survive the termination and payment in full of the Guaranteed Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THE UNDERSIGNED HEREBY
WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY HERETO OR BENEFICIARY HEREOF ON ANY MATTER
WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS GUARANTEE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS GUARANTEE AND ALL
RIGHTS, OBLIGATIONS AND LIABILITIES ARISING HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAWS OF THE STATE OF
NEW YORK.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The undersigned hereby
irrevocably submits to the non-exclusive jurisdiction of the courts of the State of New York and of the United States District
Court for the Southern District of New York in any action or proceeding brought against it under this Guarantee or under any document
delivered by it in connection herewith or called for by the Portfolio Management Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">No delay on the part
of its exercise of, or the failure to exercise, any right or remedy shall be deemed a waiver of any obligation of the undersigned
or right of the Guaranteed Parties. This Guarantee may be modified, and the Guaranteed Parties&rsquo; rights hereunder waived,
only by agreement in writing signed by each Guaranteed Party and the undersigned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This Guarantee shall
inure to the benefit of the Guaranteed Parties and their respective successors and permitted assigns, and shall bind the successors
and assigns of the undersigned. The undersigned hereby acknowledges that the Collateral Agent is the beneficiary of a collateral
assignment of this Guarantee pursuant to Section 8.02 of the Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This Guarantee may not
be assigned by the undersigned without the prior written consent of each Guaranteed Party. Upon any assignment to, and assumption
by, an assignee of the undersigned&rsquo;s obligations hereunder in accordance with the foregoing sentence, the undersigned shall
be released with immediate effect from any and all of its obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, this
Guarantee has been duly executed by the undersigned this 26<SUP>th</SUP> day of August, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">C&#298;ON INVESTMENT CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 5%; text-indent: 0in">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; text-indent: 0in"><I>/s/ Michael A. Reisner</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Name: Michael A. Reisner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title: Co-President and Co-CEO</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="margin: 0"></P>

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