<SEC-DOCUMENT>0001999371-25-003702.txt : 20250402
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<ACCEPTANCE-DATETIME>20250402172029
ACCESSION NUMBER:		0001999371-25-003702
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20250402
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20250402
DATE AS OF CHANGE:		20250402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GDL FUND
		CENTRAL INDEX KEY:			0001378701
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21969
		FILM NUMBER:		25806153

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		914-921-5100

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gabelli Global Deal Fund
		DATE OF NAME CHANGE:	20061019
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>UNITED STATES<br/>
SECURITIES AND EXCHANGE COMMISSION<br/>
Washington, D.C. 20549</b></p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>CURRENT REPORT<br/>
Pursuant to Section&#160;13 or 15(d)<br/>
of the Securities Exchange Act of 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported) <b><span id="xdx_90E_edei--DocumentPeriodEndDate_c20250402__20250402_zP9A2lt227A2"><ix:nonNumeric contextRef="AsOf2025-04-02" format="ixt:datemonthdayyearen" id="Fact000011" name="dei:DocumentPeriodEndDate">April 2, 2025</ix:nonNumeric></span> (March 18, 2025)</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 227.4pt 0 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrants telephone number, including area code <b><span id="xdx_907_edei--CityAreaCode_c20250402__20250402_z53VafHG8ARj"><ix:nonNumeric contextRef="AsOf2025-04-02" id="Fact000020" name="dei:CityAreaCode">(800)</ix:nonNumeric></span> <span id="xdx_908_edei--LocalPhoneNumber_c20250402__20250402_zKUhBncFIZAd"><ix:nonNumeric contextRef="AsOf2025-04-02" id="Fact000021" name="dei:LocalPhoneNumber">422-3554</ix:nonNumeric></span></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since last
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 227.4pt 0 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">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: 0">&#160;</p>

<p style="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><span id="xdx_90C_edei--WrittenCommunications_c20250402__20250402_zssHcqkHtmke"><ix:nonNumeric contextRef="AsOf2025-04-02" format="ixt:booleanfalse" id="Fact000022" name="dei:WrittenCommunications">&#9744;</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;Written
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<p style="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><span id="xdx_90C_edei--SolicitingMaterial_c20250402__20250402_zGHUPZ6Jdb8h"><ix:nonNumeric contextRef="AsOf2025-04-02" format="ixt:booleanfalse" id="Fact000023" name="dei:SolicitingMaterial">&#9744;</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;Soliciting
material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></p>

<p style="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><span id="xdx_903_edei--PreCommencementTenderOffer_c20250402__20250402_zE3qKlMq8Cej"><ix:nonNumeric contextRef="AsOf2025-04-02" format="ixt:booleanfalse" id="Fact000024" name="dei:PreCommencementTenderOffer">&#9744;</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;Pre-commencement
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<p style="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><span id="xdx_902_edei--PreCommencementIssuerTenderOffer_c20250402__20250402_zh89qBUHRtQ1"><ix:nonNumeric contextRef="AsOf2025-04-02" format="ixt:booleanfalse" id="Fact000025" name="dei:PreCommencementIssuerTenderOffer">&#9744;</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;Pre-commencement
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_90B_edei--EntityEmergingGrowthCompany_c20250402__20250402_zJguX7HtX9Wj"><ix:nonNumeric contextRef="AsOf2025-04-02" format="ixt:booleanfalse" id="Fact000029" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;Emerging
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with new
or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</span><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>


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<td style="width: 0"/><td style="width: 1in"><b>Item 3.02.</b></td><td><b>Unregistered Sale of Equity Securities</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 26, 2025, the GDL Fund
(the &#8220;Fund&#8221;) issued and sold 255,000 shares of its 5.20% Series G Cumulative Preferred Shares (the &#8220;Series G Preferred
Shares&#8221;) at a price equal to the $10.00 liquidation preference per share to qualified purchasers in a transaction exempt from registration
under Section 4(a)(2) of the Securities Act of 1933. The Fund received net proceeds of approximately $2,500,000 in connection with the
transaction.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 31, 2025, the Fund
issued and sold 40,000 Series G Preferred Shares at a price equal to the $10.00 liquidation preference plus $0.007 accrued dividends
per share to qualified purchasers in a transaction exempt from registration under Section 4(a)(2) of the Securities Act of 1933. The Fund received net
proceeds of approximately $380,000 in connection with the transaction.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Following the transactions, the Fund has outstanding 295,000 Series G Preferred Shares and
3,205,000 Seres G Preferred Shares remain available to be issued pursuant to the Statement of Preferences of Series G Cumulative Preferred
Shares (the &#8220;Series G Statement of Preferences&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Holders of Series G Preferred
Shares shall be entitled to receive, when, as and if authorized by, or under authority granted by, the Board of Trustees of the Fund (the
&#8220;Board&#8221;) and declared by the Fund, out of funds legally available therefor, cumulative cash dividends and distributions at
the rate of 5.20% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months) of the $10 per share liquidation
preference on the Series G Preferred Shares. Dividends and distributions on Series G Preferred Shares will accumulate from the date of
their original issue.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Series G Preferred Shares
are fully paid and non-assessable and have no preemptive, exchange or conversion rights. Any Series G Preferred Shares purchased or redeemed
by the Fund will, after such purchase or redemption, have the status of authorized but unissued common shares. The Board may by resolution
classify or reclassify any authorized and unissued Series G Preferred Shares from time to time by setting or changing the preferences,
conversion or other rights, voting powers, restrictions, limitations as to dividends and distributions, qualifications or terms or conditions
of redemption of such shares. So long as any Series G Preferred Shares are outstanding, the Fund may not, without the affirmative vote
of the holders of a majority (as defined in the Investment Company Act of 1940 (the &#8220;1940 Act&#8221;)) of the Fund&#8217;s preferred
shares outstanding at the time, voting separately as one class, amend, alter or repeal the provisions of the Series G Statement of Preferences
so as to in the aggregate materially and adversely affect the rights and preferences of any preferred shares of the Fund. To the extent
permitted under the 1940 Act, in the event that more than one series of the Fund&#8217;s preferred shares are outstanding, the Fund will
not effect any of the actions set forth in the preceding sentence which in the aggregate materially and adversely affects the rights and
preferences for a series of preferred shares differently than such rights and preferences for any other series of preferred shares without
the affirmative vote of the holders of at least a majority (as defined in the 1940 Act) of the Fund&#8217;s preferred shares outstanding
of each series materially and adversely affected (each such materially and adversely affected series voting separately as a class to the
extent its rights are affected differently). The holders of the Series G Preferred Shares will have exclusive voting rights on any amendment
to the Governing Documents (as defined below) that would alter only the contract rights of the Series G Preferred Shares. The holders
of the Series G Preferred Shares are not entitled to vote on any matter that affects the rights or interests of only one or more other
series of the Fund&#8217;s preferred shares. Unless a higher percentage is required under the Governing Documents or applicable provisions
of Delaware law or the 1940 Act, the affirmative vote of the holders of a majority (as defined in the 1940 Act) of the outstanding preferred
shares, including Series G Preferred Shares, voting together as a single class, will be required to approve any plan of reorganization
materially and adversely affecting the Fund&#8217;s preferred shares or any action requiring a vote of security holders under Section
13(a) of the 1940 Act. The class vote of holders of the Fund&#8217;s preferred shares described above will in each case be in addition
to a separate vote of the requisite percentage of common shares and preferred shares, including Series G Preferred Shares, voting together
as a single class, necessary to authorize the action in question. As used herein, &#8220;Governing Documents&#8221; means the Fund&#8217;s
Agreement and Declaration of Trust and Amended and Restated By-Laws, together with any amendments or supplements thereto, including any
Statement of Preferences establishing a series of preferred shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The description of the Series
G Preferred Shares herein is qualified in its entirety by reference to the copy of the Series G Statement of Preferences filed herewith
as Exhibit 3.1.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"/><td style="width: 1in"><b>Item 5.03.</b></td><td><b>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 18, 2025, the Fund adopted the Series G
Statement of Preferences establishing and fixing the rights and preferences of the Series G Preferred Shares. The Series G Statement of
Preferences authorizes 3,500,000 Series G Preferred Shares, liquidation preference $10.00 per share. A copy of the Series G Statement
of Preferences is filed herewith as Exhibit 3.1 and incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>



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<td style="width: 0"/><td style="width: 1in"><b>Item 9.01</b></td><td><b>Financial Statements and Exhibits </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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    <td style="width: 6%; padding-right: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Exhibits</span></i></span></td>
    <td style="width: 81%; padding-right: -0.5in">&#160;</td>
    <td style="width: 7%; padding-right: -0.5in">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="padding-right: -0.5in">&#160;</td>
    <td style="padding-right: -0.5in">&#160;</td>
    <td style="padding-right: -0.5in">&#160;</td>
    <td style="padding-right: -0.5in">&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td style="padding-right: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex3_1.htm">3.1</a></span></td>
    <td style="padding-right: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex3_1.htm">Statement of Preferences of Series G Cumulative Preferred Shares</a></span></td>
    <td style="padding-right: -0.5in">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>


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<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>SIGNATURE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 23pt">Pursuant to the requirements of the Securities Exchange
Act of 1934, 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: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <td style="vertical-align: top; padding-right: 2.8pt">&#160;</td></tr>
  <tr>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
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  <tr>
    <td style="vertical-align: top; width: 26%; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    April 2, 2025</span></td>
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    <td style="vertical-align: bottom; width: 5%; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John C. Ball</span></td>
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  <tr>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</span></td>
    <td style="vertical-align: bottom; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">John C. Ball</span></td>
    <td style="vertical-align: top; padding-right: 0.8pt">&#160;</td></tr>
  <tr>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td style="vertical-align: bottom; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Treasurer</span></td>
    <td style="vertical-align: top; padding-right: 0.8pt">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
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<DESCRIPTION>STATEMENT OF PREFERENCES OF SERIES G CUMULATIVE PREFERRED SHARES
<TEXT>
<HTML>
<HEAD>
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<!-- Field: Rule-Page --><div style="margin: 0; width: 100%"><div style="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 10pt; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal"><a href="gdl-8k_040225.htm">The GDL Fund 8-K</a></font></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: right"><B>Exhibit 3.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>The GDL
Fund</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>STATEMENT OF PREFERENCES<BR>
OF<BR>
SERIES G CUMULATIVE TERM PREFERRED SHARES </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The GDL Fund, a Delaware statutory trust (the
&ldquo;<U>Trust</U>&rdquo;), hereby certifies that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">FIRST: The Board of Trustees of the Trust (the
&ldquo;<U>Board of Trustees</U>&rdquo;), at a meeting duly convened and held on February&nbsp;28, 2008 and November&nbsp;19, 2008, pursuant
to authority expressly vested in it by Article&nbsp;III of the Amended and Restated Agreement and Declaration of Trust, adopted resolutions
classifying an unlimited amount of shares as authorized but unissued preferred shares of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">SECOND: The Board of Trustees, at a meeting
duly convened and held on February 13, 2025, approved the designation, issuance and sale by the Trust of up to $35,000,000 in liquidation
preference of Series G Cumulative Term Preferred Shares, par value $0.001 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">THIRD: The pricing committee of the Board of
Trustees (the &ldquo;<U>Pricing Committee</U>&rdquo;), at a meeting duly convened and held on February 13, 2025, approved the issuance
and sale by the Trust of up to 3,500,000 shares of Series G Cumulative Term Preferred Shares, par value $0.001 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">FOURTH: The preferences, rights, voting powers,
restrictions, limitations as to dividends and distributions, qualifications, and terms and conditions of redemption of the Trust&rsquo;s
Series G Cumulative Term Preferred Shares, par value $0.001&nbsp;per share, as set by the Board of Trustees and the Pricing Committee,
are as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Series G Cumulative Term Preferred Shares:
A series of 3,500,000 preferred shares, par value $0.001&nbsp;per share, liquidation preference $10&nbsp;per share, is hereby designated
&ldquo;Series G Cumulative Term Preferred Shares&rdquo; (the &ldquo;<U>Series G Preferred Shares</U>&rdquo;). Each Series G Preferred
Share may be issued on a date to be determined by the Board of Trustees or its delegatees and as are set forth in this Statement of Preferences;
and shall have such other preferences, rights, voting powers, restrictions, limitations as to dividends and distributions, qualifications
and terms and conditions of redemption, in addition to those required by applicable law or set forth in the Governing Documents applicable
to preferred shares of the Trust (&ldquo;<U>Preferred Shares</U>&rdquo;), as are set forth in this Statement of Preferences. The Series
G Preferred Shares shall constitute a separate series of Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">FIFTH: This Statement of Preferences sets forth
the rights, powers, preferences and privileges of the holders of the Series G Preferred Shares and the provisions set forth herein shall
operate either as additions to or modifications of the rights, powers, preferences and privileges of the holders of the Series G Preferred
Shares under the Declaration (as defined herein), as the context may require. To the extent the provisions set forth herein conflict with
the provisions of the Declaration with respect to any such rights, powers, preferences and privileges, this Statement of Preferences shall
control. Except as contemplated by the immediately preceding sentence, the Declaration shall control as to the Trust generally and the
rights, powers, preferences and privileges of the other shareholders of the Trust.</P>

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

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

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


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Unless the context or use indicates another
or different meaning or intent, each of the following terms when used in this Statement of Preferences shall have the meaning ascribed
to it below, whether such term is used in the singular or plural and regardless of tense:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>1940 Act</U>&rdquo; means the Investment
Company Act of 1940, as amended, or any successor statute.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Adviser</U>&rdquo; means Gabelli
Funds, LLC, a New York limited liability company, or such other Person as shall be serving as the investment adviser of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Asset Coverage</U>&rdquo; means asset
coverage, as determined in accordance with Section&nbsp;18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior
securities of the Trust which are stock, including all Outstanding Series G Preferred Shares (or such other asset coverage as may in the
future be specified in or under the 1940 Act as the minimum asset coverage for senior securities which are stock of a closed-end investment
company as a condition of declaring dividends on its common stock), determined on the basis of values calculated as of a time within 48&nbsp;hours
(not including Saturdays, Sundays or holidays) next preceding the time of such determination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Board of Trustees</U>&rdquo; means
the Board of Trustees of the Trust or any duly authorized committee thereof as permitted by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Business Day</U>&rdquo; means a day
on which the New York Stock Exchange is open for trading and that is neither a Saturday nor a Sunday.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>By-Laws</U>&rdquo; means the Amended
and Restated By-Laws of the Trust, as amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Common Shares</U>&rdquo; means the
common shares of beneficial interest, par value $0.001&nbsp;per share, of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Date of Original Issue</U>&rdquo;
means March 26, 2025 with respect to the Series G Preferred Shares, and for the purposes of this Statement of Preferences shall have a
correlative meaning with respect to any other class or series of Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Declaration</U>&rdquo; means the
Agreement and Declaration of Trust of the Trust, dated as of November&nbsp;3, 2006, as amended, supplemented or restated from time to
time (including by this Statement of Preferences or by way of any other supplement or Statement of Preferences authorizing or creating
a class of shares of beneficial interest in the Trust).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Deposit Assets</U>&rdquo; means cash,
Short-Term Money Market Instruments and U.S.&nbsp;Government Obligations. Each Deposit Asset shall be deemed to have a value equal to
its principal or face amount payable at maturity plus any interest payable thereon after delivery of such Deposit Asset but only if payable
on or prior to the applicable payment date in advance of which the relevant deposit is made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Dividend-Disbursing Agent</U>&rdquo;
means, with respect to the Series G Preferred Shares, Equiniti Trust Company, LLC and its successors or any other dividend-disbursing
agent appointed by the Trust and, with respect to any other class or series of Preferred Shares, the Person appointed by the Trust as
dividend-disbursing or paying agent with respect to such class or series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Dividend Payment Date</U>&rdquo;
means with respect to the Series G Preferred Shares, any date on which dividends and distributions declared by, or under authority granted
by, the Board of Trustees thereon are payable pursuant to the provisions of paragraph&nbsp;2(a) of Part&nbsp;II of this Statement of Preferences
and shall for the purposes of this Statement of Preferences have a correlative meaning with respect to any other class or series of Preferred
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Dividend Period</U>&rdquo; shall
have the meaning set forth in paragraph&nbsp;2(a) of Part&nbsp;II hereof, and for the purposes of this Statement of Preferences shall
have a correlative meaning with respect to any other class or series of Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Governing Documents</U>&rdquo; means
the Declaration and the By-Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Liquidation Preference</U>&rdquo;
shall, with respect to the Series G Preferred Shares, have the meaning set forth in paragraph&nbsp;3(a) of Part&nbsp;II hereof, and for
the purposes of this Statement of Preferences shall have a correlative meaning with respect to any other class or series of Preferred
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Notice of Redemption</U>&rdquo; shall
have the meaning set forth in paragraph&nbsp;4(d)(i) of Part&nbsp;II hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Outstanding</U>&rdquo; means, as
of any date, Preferred Shares theretofore issued by the Trust except:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;any such Preferred Shares theretofore
redeemed, repurchased, cancelled or otherwise reacquired by the Trust or delivered to the Trust for redemption, repurchase, cancellation
or other acquisition by the Trust;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b)&nbsp;any such Preferred Share as to which
a Notice of Redemption shall have been given and for whose payment at the redemption thereof Deposit Assets in the necessary amount are
held by the Trust in trust for, or have been irrevocably deposited with the relevant disbursing agent for payment to, the holder of such
share pursuant to this Statement of Preferences with respect thereto; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(d)&nbsp;any such Preferred Share in exchange
for or in lieu of which other shares have been issued and delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Notwithstanding the foregoing, for purposes
of voting rights (including the determination of the number of shares required to constitute a quorum), any Preferred Shares as to which
the Trust or any subsidiary of the Trust is the holder will be disregarded and deemed not Outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Person</U>&rdquo; means and includes
an individual, a partnership, the Trust, a trust, a corporation, a limited liability company, an unincorporated association, a joint venture
or other entity or a government or any agency or political subdivision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Preferred Shares</U>&rdquo; means
all series of the preferred shares, par value $0.001&nbsp;per share, of the Trust, and includes the Series G Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Record Date</U>&rdquo; shall have
the meaning set forth in paragraph&nbsp;2(a) of Part&nbsp;II hereof, and for the purposes of this Statement of Preferences shall have
a correlative meaning with respect to any other class or series of Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Redemption&nbsp;Price</U>&rdquo;
has the meaning set forth in paragraph&nbsp;4(a) of Part&nbsp;II hereof, and for the purposes of this Statement of Preferences shall have
a correlative meaning with respect to any other class or series of Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Series G Preferred Shares</U>&rdquo;
means the Series G Cumulative Term Preferred Shares, par value $0.001&nbsp;per share, of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&ldquo;<U>Series G Asset Coverage Cure Date</U>&rdquo;
means, with respect to the failure by the Trust to maintain Asset Coverage (as required by paragraph&nbsp;6(a)(i) of Part&nbsp;II hereof)
as of the last Business Day of each March, June, September and December of each year, 60&nbsp;days following such Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;<U>Short-Term Money Market Instruments</U>&rdquo;
means the following types of instruments if, on the date of purchase or other acquisition thereof by the Trust, the remaining term to
maturity thereof is not in excess of 180 days:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 6%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 89%; text-align: justify"><FONT STYLE="font-size: 10pt">commercial paper rated A-1 if such commercial paper matures in 30 days or A-1+ if such commercial paper matures in over 30 days; </FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">demand or time deposits in, and banker&rsquo;s acceptances and certificates of deposit of (A) a depository institution or trust company incorporated under the laws of the United States of America or any state thereof or the District of Columbia or (B) a United States branch office or agency of a foreign depository institution (provided that such branch office or agency is subject to banking regulation under the laws of the United States, any state thereof or the District of Columbia);</FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">overnight funds; and </FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">U.S. Government Obligations.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;<U>Trust</U>&rdquo; means The GDL Fund, a Delaware
statutory trust.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;<U>U.S. Government Obligations</U>&rdquo; means
direct obligations of the United States or obligations issued by its agencies or instrumentalities that are entitled to the full faith
and credit of the United States and that, other than United States Treasury Bills, provide for the periodic payment of interest and the
full payment of principal at maturity or call for redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&ldquo;<U>Voting Period</U>&rdquo; shall have
the meaning set forth in paragraph&nbsp;5(b) of Part&nbsp;II hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>SERIES G CUMULATIVE TERM PREFERRED SHARES
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">1. Number of Shares; Ranking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;The initial number of authorized Shares
constituting the Series G Preferred Shares to be issued is 3,500,000. No fractional Series G Preferred Shares shall be issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b) Series G Preferred Shares which at any
time have been redeemed or purchased by the Trust shall, after such redemption or purchase, have the status of authorized but unissued
Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(c) The Series G Preferred Shares shall rank
on a parity with any other series of Preferred Shares as to the payment of dividends, distributions and liquidation preference to which
such Shares are entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(d) No holder of Series G Preferred Shares
shall have, solely by reason of being such a holder, any preemptive or other right to acquire, purchase or subscribe for any Preferred
Shares or Common Shares or other securities of the Trust which it may hereafter issue or sell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">2. Dividends and Distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;Holders of Series G Preferred Shares
shall be entitled to receive, when, as and if declared by, or under authority granted by, the Board of Trustees, out of funds legally
available therefor, cumulative cash dividends and distributions, calculated separately for each dividend period, payable semiannually
on March&nbsp;26&nbsp;and September&nbsp;26 in each year (each a &ldquo;<U>Dividend Payment Date</U>&rdquo;) commencing on the Dividend
Payment Date following the Date of Original Issue (if any Dividend Payment Date is not a Business Day, then on the next succeeding Business
Day), and computed on the basis of a 360-day year consisting of twelve 30-day months, of the Liquidation Preference on the Series G Preferred
Shares. As used herein, each period beginning on and including a Dividend Payment Date (or beginning on the Date of Original Issue, in
the case of the first dividend period after the issuance of such Series G Preferred Shares) and ending on but excluding the next succeeding
Dividend Payment Date is referred to as a &ldquo;Dividend Period.&rdquo; Dividends will be paid at an annualized rate of 5.20% based on
the Liquidation Preference of the Series G Preferred Shares. Dividends and distributions will be payable to holders of record of Series
G Preferred Shares as they appear on the share register of the Trust at the close of business on the fifth Business Day preceding the
Dividend Payment Date (each, a &ldquo;<U>Record Date</U>&rdquo;) in preference to dividends and distributions on Common Shares and any
other capital shares of the Trust ranking junior to the Series G Preferred Shares in payment of dividends and distributions. Dividends
and distributions on Series G Preferred Shares that were originally issued on the Date of Original Issue shall accumulate from the Date
of Original Issue. Dividends and distributions on all other Series G Preferred Shares shall accumulate from (i) the date on which such
shares are originally issued if such date is a Dividend Payment Date, (ii) the immediately preceding Dividend Payment Date if the date
on which such shares are originally issued is other than a Dividend Payment Date and is on or before a Record Date or (iii) the immediately
following Dividend Payment Date if the date on which such shares are originally issued is during the period between a Record Date and
a Dividend Payment Date. Dividends and distributions on account of arrears for any past Dividend Period or in connection with the redemption
of Series G Preferred Shares may be declared and paid at any time, without reference to any Dividend Payment Date, to holders of record
on such date not exceeding 30&nbsp;days preceding the payment date thereof as shall be fixed by the Board of Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b)&nbsp;(i)&nbsp;No full dividends or distributions
shall be declared or paid on Series G Preferred Shares for any Dividend Period or part thereof unless full cumulative dividends and distributions
due through the most recent Dividend Payment Dates therefor for all series of Preferred Shares ranking on a parity with the Series G Preferred
Shares as to the payment of dividends and distributions have been or contemporaneously are declared and paid through the most recent Dividend
Payment Dates therefor. If full cumulative dividends and distributions due have not been paid on all such Outstanding Preferred Shares,
any dividends and distributions being paid on such Preferred Shares (including the Series G Preferred Shares) will be paid as nearly pro
rata as possible in proportion to the respective amounts of dividends and distributions accumulated but unpaid on each such series of
Preferred Shares on the relevant Dividend Payment Date. No holders of Series G Preferred Shares shall be entitled to any dividends or
distributions, whether payable in cash, property or shares, in excess of full cumulative dividends and distributions as provided in this
paragraph&nbsp;2(b)(i) on Series G Preferred Shares. No interest or sum of money in lieu of interest shall be payable in respect of any
dividend payments on any Series G Preferred Shares that may be in arrears.</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(ii)&nbsp;For so long as Series G Preferred
Shares are Outstanding, the Trust shall not pay any dividend or other distribution (other than a dividend or distribution paid in Common
Shares, or options, warrants or rights to subscribe for or purchase Common Shares or other shares, if any, ranking junior to the Series
G Preferred Shares as to payment of dividends and the distribution of assets upon liquidation) in respect of the Common Shares or any
other shares of the Trust ranking junior to the Series G Preferred Shares as to the payment of dividends and the distribution of assets
upon liquidation, or call for redemption, redeem, purchase or otherwise acquire for consideration any Common Shares or any other shares
of the Trust ranking junior to the Series G Preferred Shares as to the payment of dividends and the distribution of assets upon liquidation
(except by conversion into or exchange for shares of the Trust ranking junior to the Series G Preferred Shares as to payment of dividends
and the distribution of assets upon liquidation), unless, in each case, (A)&nbsp;immediately thereafter, the Trust shall have Asset Coverage,
(B)&nbsp;all cumulative dividends and distributions on all Series G Preferred Shares due on or prior to the date of the transaction have
been declared and paid (or shall have been declared and sufficient funds for the payment thereof deposited with the applicable Dividend-Disbursing
Agent) and (C)&nbsp;the Trust has redeemed the full number of Series G Preferred Shares to be redeemed mandatorily pursuant to any provision
contained herein for mandatory redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(iii)&nbsp;Any dividend payment made on the
Series G Preferred Shares shall first be credited against the dividends and distributions accumulated with respect to the earliest Dividend
Period for which dividends and distributions have not been paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(c) Not later than the Business Day immediately
preceding each Dividend Payment Date, the Trust shall deposit with the Dividend-Disbursing Agent Deposit Assets having an initial combined
value sufficient to pay the dividends and distributions that are payable on such Dividend Payment Date, which Deposit Assets shall mature
(if such assets constitute debt securities or time deposits) on or prior to such Dividend Payment Date. The Trust may direct the Dividend-Disbursing
Agent with respect to the investment of any such Deposit Assets, provided that such investment consists exclusively of Deposit Assets
and provided further that the proceeds of any such investment will be available at the opening of business on such Dividend Payment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">3. Liquidation Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;In the event of any liquidation, dissolution
or winding up of the affairs of the Trust, whether voluntary or involuntary, the holders of Series G Preferred Shares shall be entitled
to receive out of the assets of the Trust available for distribution to shareholders, after satisfying claims of creditors but before
any distribution or payment shall be made in respect of the Common Shares or any other shares of the Trust ranking junior to the Series
G Preferred Shares as to liquidation payments, a liquidation distribution in the amount of $10&nbsp;per share (the &ldquo;<U>Liquidation
Preference</U>&rdquo;), plus an amount equal to all unpaid dividends and distributions accumulated to and including the date fixed for
such distribution or payment (whether or not earned or declared by the Trust, but excluding interest thereon), and such holders shall
be entitled to no further participation in any distribution or payment in connection with any such liquidation, dissolution or winding
up of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b) If, upon any liquidation, dissolution or
winding up of the affairs of the Trust, whether voluntary or involuntary, the assets of the Trust available for distribution among the
holders of all Outstanding Series G Preferred Shares, and any other Outstanding class or series of Preferred Shares ranking on a parity
with the Series G Preferred Shares as to payment upon liquidation, shall be insufficient to permit the payment in full to such holders
of Series G Preferred Shares of the Liquidation Preference plus accumulated and unpaid dividends and distributions and the amounts due
upon liquidation with respect to such other Preferred Shares, then such available assets shall be distributed among the holders of Series
G Preferred Shares and such other Preferred Shares ratably in proportion to the respective preferential liquidation amounts to which they
are entitled. Notwithstanding any other provision of this Statement of Preferences, Series G Preferred Shares submitted for redemption
pursuant to paragraph&nbsp;4(c) hereof will remain subject to the foregoing liquidation terms until the applicable redemption date. Unless
and until the Liquidation Preference plus accumulated and unpaid dividends and distributions has been paid in full to the holders of Series
G Preferred Shares, no dividends or distributions will be made to holders of the Common Shares or any other shares of the Trust ranking
junior to the Series G Preferred Shares as to liquidation.</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">4. Redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Series G Preferred Shares shall be redeemed
by the Trust as provided below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;Mandatory Redemptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Trust is required to redeem the Series
G Preferred Shares on March 26, 2027 at a price equal to the Liquidation Preference plus accumulated but unpaid dividends and distributions
(whether or not earned or declared by the Trust) to, but not including, the date of redemption (the &ldquo;<U>Redemption Price</U>&rdquo;).
If the Trust is required to redeem any Preferred Shares (which may include Series G Preferred Shares) prior to March 26, 2027 pursuant
to paragraph&nbsp;6(b) of Part&nbsp;II hereof, then the Trust shall, to the extent permitted by the 1940 Act and Delaware law, by the
close of business on such Series G Asset Coverage Cure Date, fix a redemption date and proceed to redeem shares as set forth in paragraph&nbsp;4(d)
hereof. On such redemption date, the Trust shall redeem, out of funds legally available therefor, (i) the number of Preferred Shares,
which, to the extent permitted by the 1940 Act and Delaware law, at the option of the Trust may include any proportion of Series G Preferred
Shares or any other series of Preferred Shares, equal to the minimum number of shares the redemption of which, if such redemption had
occurred immediately prior to the opening of business on such Series G Asset Coverage Cure Date, would have resulted in the Trust having
Asset Coverage immediately prior to the opening of business on such Series G Asset Coverage Cure Date or (ii) if such Asset Coverage cannot
be so restored, all of the Outstanding Series G Preferred Shares, at a price equal to the Redemption Price. In the event that Preferred
Shares are redeemed pursuant to paragraph&nbsp;6(b) Part&nbsp;II hereof, the Trust may, but is not required to, redeem an additional number
of Series G Preferred Shares pursuant to this paragraph&nbsp;4(a) which, when aggregated with other Preferred Shares redeemed by the Trust,
permits the Trust to have with respect to the Preferred Shares (including the Series G Preferred Shares) remaining Outstanding after such
redemption Asset Coverage of as much as 220%. In the event that all of the Series G Preferred Shares then Outstanding are required to
be redeemed pursuant to paragraph&nbsp;6 of Part&nbsp;II hereof, the Trust shall redeem such shares at the Redemption&nbsp;Price and proceed
to do so as set forth in paragraph&nbsp;4(d) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b)&nbsp;Optional Redemptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Trust may redeem the Series G Preferred
Shares in whole or in part on March 26, 2026. The Series G Preferred Shares are not otherwise subject to optional redemption by the Trust
unless such redemption is necessary, in the judgment of the Board of Trustees, to maintain the Trust&rsquo;s status as a regulated investment
company under Subchapter M of the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(c) Holder Put Options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Trust will redeem all or any part of the
Series G Preferred Shares that holders have properly tendered for redemption during the 60-day period prior to March 26, 2026 at the Redemption
Price per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(d)&nbsp;Procedures for Redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(i)&nbsp;If the Trust shall determine or be
required to redeem Series G Preferred Shares pursuant to paragraph&nbsp;4(a) or paragraph&nbsp;4(b) of this Part&nbsp;II, it shall mail
a written notice of redemption (&ldquo;<U>Notice of Redemption</U>&rdquo;) with respect to such redemption by first class mail, postage
prepaid, to each holder of the shares to be redeemed at such holder&rsquo;s address as the same appears on the share register of the Trust
on the close of business on such date as the Board of Trustees or its delegatee may determine, which date shall not be earlier than the
second Business Day prior to the date upon which such Notice of Redemption is mailed to the holders of Series G Preferred Shares. Each
such Notice of Redemption shall state: (A)&nbsp;the redemption date as established by the Board of Trustees or its delegatee; (B)&nbsp;the
number or percentage of Series G Preferred Shares to be redeemed; (C)&nbsp;the CUSIP number(s) of such shares; (D)&nbsp;the Redemption&nbsp;Price
(specifying the amount of accumulated dividends and distributions to be included therein); (E)&nbsp;the place or places where the certificate(s)
for such shares (properly endorsed or assigned for transfer, if the Board of Trustees or its delegatee shall so require and the Notice
of Redemption shall so state), if any, are to be surrendered for payment in respect of such redemption; (F)&nbsp;that dividends and distributions
on the shares to be redeemed will cease to accrue on such redemption date; (G)&nbsp;the provisions of this paragraph&nbsp;4 under which
such redemption is made; and (H)&nbsp;in the case of a redemption pursuant to paragraph&nbsp;4(b), any conditions precedent to such redemption.
If fewer than all Series G Preferred Shares held by any holder are to be redeemed, the Notice of Redemption mailed to such holder also
shall specify the number or percentage of shares to be redeemed from such holder. No defect in the Notice of Redemption or the mailing
thereof shall affect the validity of the redemption proceedings, except as required by applicable law. The Notice of Redemption shall
be mailed to the holders of Series G Preferred Shares to be redeemed not fewer than 15 days nor more than 40 days prior to the date fixed
for redemption; provided, however, that shorter notice may be given in the case of a redemption pursuant to paragraph&nbsp;4(a).</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(ii)&nbsp;If the Trust shall give a Notice
of Redemption, then by the close of business on the Business Day preceding the redemption date specified in the Notice of Redemption (so
long as any conditions precedent to such redemption have been met) or, if the Dividend-Disbursing Agent so agrees, another date not later
than the redemption date, the Trust shall (A)&nbsp;deposit with the Dividend-Disbursing Agent Deposit Assets that shall mature (if such
assets constitute debt securities or time deposits) on or prior to such redemption date having an initial combined value sufficient to
effect the redemption of the Series G Preferred Shares to be redeemed and (B)&nbsp;give the Dividend-Disbursing Agent irrevocable instructions
and authority to pay the Redemption&nbsp;Price to the holders of the Series G Preferred Shares called for redemption on the redemption
date. The Trust may direct the Dividend-Disbursing Agent with respect to the investment of any Deposit Assets so deposited provided that
the proceeds of any such investment will be available at the opening of business on such redemption date. Upon the date of such deposit
(unless the Trust shall default in making payment of the Redemption&nbsp;Price), all rights of the holders of the Series G Preferred Shares
so called for redemption shall cease and terminate except the right of the holders thereof to receive the Redemption&nbsp;Price thereof
and such shares shall no longer be deemed Outstanding for any purpose. The Trust shall be entitled to receive, promptly after the date
fixed for redemption, any cash in excess of the aggregate Redemption Price of the Series G Preferred Shares called for redemption on such
date and any remaining Deposit Assets. Any assets so deposited that are unclaimed at the end of two years from such redemption date shall,
to the extent permitted by law, be repaid to the Trust, after which the holders of the Series G Preferred Shares so called for redemption
shall look only to the Trust for payment of the Redemption&nbsp;Price thereof. The Trust shall be entitled to receive, from time to time
after the date fixed for redemption, any interest on the Deposit Assets so deposited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(iii)&nbsp;On or after the redemption date,
each holder of Series G Preferred Shares that are subject to redemption shall surrender such shares to the Trust as instructed in the
Notice of Redemption and shall then be entitled to receive the cash Redemption&nbsp;Price, without interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(iv)&nbsp;In the case of any redemption of
less than all of the Series G Preferred Shares pursuant to this Statement of Preferences, such redemption shall be made pro rata from
each holder of Series G Preferred Shares in accordance with the respective number of shares held by each such holder on the record date
for such redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(v)&nbsp;Notwithstanding the other provisions
of this paragraph&nbsp;4, the Trust shall not redeem any Series G Preferred Shares unless all accumulated and unpaid dividends and distributions
on all Outstanding Series G Preferred Shares and other Preferred Shares ranking on a parity with the Series G Preferred Shares with respect
to dividends and distributions for all applicable past Dividend Periods (whether or not earned or declared by the Trust) shall have been
or are contemporaneously paid or declared and Deposit Assets for the payment of such dividends and distributions shall have been deposited
with the Dividend-Disbursing Agent as set forth in paragraph&nbsp;2(c) of Part&nbsp;II hereof, provided, however, that the foregoing shall
not prevent the purchase or acquisition of Outstanding Preferred Shares pursuant to the successful completion of an otherwise lawful purchase
or exchange offer made on the same terms to holders of all Outstanding Series G Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">If the Trust shall not have funds legally available
for the redemption of, or is otherwise unable to redeem, all the Series G Preferred Shares or other Preferred Shares designated to be
redeemed on any redemption date, the Trust shall redeem on such redemption date the number of Series G Preferred Shares and other Preferred
Shares so designated as it shall have legally available funds, or is otherwise able, to redeem ratably on the basis of the Redemption&nbsp;Price
from each holder whose shares are to be redeemed, and the remainder of the Series G Preferred Shares and other Preferred Shares designated
to be redeemed shall be redeemed on the earliest practicable date on which the Trust shall have funds legally available for the redemption
of, or is otherwise able to redeem, such shares upon Notice of Redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">5.&nbsp;Voting Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;General.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Except as otherwise provided in the Governing
Documents or a resolution of the Board of Trustees, or as required by applicable law, holders of Series G Preferred Shares shall have
no power to vote on any matter except matters submitted to a vote of the Common Shares. In any matter submitted to a vote of the holders
of the Common Shares, each holder of Series G Preferred Shares shall be entitled to one vote for each Series G Preferred Share held and
the holders of the Outstanding Preferred Shares, including Series G Preferred Shares, and the Common Shares shall vote together as a single
class; provided, however, that the holders of the Outstanding Preferred Shares, including Series G Preferred Shares, shall be entitled,
as a separate class, to the exclusion of the holders of all other securities and classes of capital shares of the Trust, to elect two
of the Trust&rsquo;s trustees. Subject to paragraph&nbsp;5(b) of Part&nbsp;II hereof, the holders of the outstanding capital shares of
the Trust, including the holders of the Outstanding Preferred Shares, including the Series G Preferred Shares, voting as a single class,
shall elect the balance of the trustees.</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b)&nbsp;Right to Elect Majority of Board of
Trustees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">During any period in which any one or more
of the conditions described below shall exist (such period being referred to herein as a &ldquo;<U>Voting Period</U>&rdquo;), the number
of trustees constituting the Board of Trustees shall be automatically increased by the smallest number that, when added to the two trustees
elected exclusively by the holders of Preferred Shares pursuant to paragraph&nbsp;5(a) above, would constitute a majority of the Board
of Trustees as so increased by such smallest number; and the holders of Preferred Shares shall be entitled, voting separately as one class
(to the exclusion of the holders of all other securities and classes of shares of the Trust), to elect such smallest number of additional
trustees, together with the two trustees that such holders are in any event entitled to elect pursuant to paragraph&nbsp;5(a) above. The
Trust and the Board of Trustees shall take all necessary action, including amending the By-Laws, to effect an increase in the number of
trustees as described in the preceding sentence. A Voting Period shall commence:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(i)&nbsp;if at any time accumulated dividends
and distributions (whether or not earned or declared, and whether or not funds are then legally available in an amount sufficient therefor)
on the Outstanding Series G Preferred Shares equal to at least two full years&rsquo; dividends and distributions shall be due and unpaid
and sufficient Deposit Assets shall not have been deposited with the Dividend-Disbursing Agent for the payment of such accumulated dividends
and distributions;&nbsp;or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(ii)&nbsp;if at any time holders of any other
Preferred Shares are entitled to elect a majority of the trustees of the Trust under the 1940 Act or Statement of Preferences creating
such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Upon the termination of a Voting Period, the
voting rights described in this paragraph&nbsp;5(b) shall cease, subject always, however, to the reverting of such voting rights in the
holders of Preferred Shares upon the further occurrence of any of the events described in this paragraph&nbsp;5(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(c)&nbsp;Voting Procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(i)&nbsp;As soon as practicable after the accrual
of any right of the holders of Preferred Shares to elect additional trustees as described in paragraph&nbsp;5(b) above, the Trust shall
call a special meeting of such holders and shall mail a notice of such special meeting to such holders, such meeting to be held not less
than 10 nor more than 20&nbsp;days after the date of mailing of such notice. If the Trust fails to send such notice or if the Trust does
not call such a special meeting, it may be called by any such holder on like notice. The record date for determining the holders entitled
to notice of and to vote at such special meeting shall be the close of business on the day on which such notice is mailed or such other
date as the Board of Trustees shall determine. At any such special meeting and at each meeting held during a Voting Period, such holders
of Preferred Shares, voting together as a class (to the exclusion of the holders of all other securities and classes of capital shares
of the Trust), shall be entitled to elect the number of trustees prescribed in paragraph&nbsp;5(b) above on a one-vote-per-share basis.
At any such meeting, or adjournment thereof in the absence of a quorum, a majority of such holders present in person or by proxy shall
have the power to adjourn the meeting without notice, other than by an announcement at the meeting, to a date not more than 120&nbsp;days
after the original record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(ii)&nbsp;For purposes of determining any rights
of the holders of Series G Preferred Shares to vote on any matter or the number of shares required to constitute a quorum, whether such
right is created by this Statement of Preferences, by the other provisions of the Governing Documents, by statute or otherwise, any Series
G Preferred Share which is not Outstanding shall not be counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(iii)&nbsp;The terms of office of all persons
who are trustees of the Trust at the time of a special meeting of holders of Preferred Shares, including Series G Preferred Shares, to
elect trustees, shall continue following such meeting, notwithstanding the election at such meeting by such holders of the number of trustees
that they are entitled to elect, and the persons so elected by such holders, together with the two incumbent trustees elected by the holders
of Preferred Shares, including Series G Preferred Shares, and the remaining incumbent trustees elected by the holders of the Common Shares
and Preferred Shares, shall constitute the duly elected trustees of the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(iv)&nbsp;Upon the expiration of a Voting Period,
the terms of office of the additional trustees elected by the holders of Preferred Shares pursuant to paragraph&nbsp;5(b) above shall
expire at the earliest time permitted by law and the remaining trustees shall constitute the trustees of the Trust and the voting rights
of such holders of Preferred Shares, including Series G Preferred Shares, to elect additional trustees pursuant to paragraph&nbsp;5(b)
above shall cease, subject to the provisions of the last sentence of paragraph&nbsp;5(b). Upon the expiration of the terms of the trustees
elected by the holders of Preferred Shares pursuant to paragraph&nbsp;5(b) above, the number of trustees shall be automatically reduced
to the number and composition of trustees on the Board immediately preceding such Voting Period.</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(e)&nbsp;Exclusive Remedy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Unless otherwise required by law, the holders
of Series G Preferred Shares shall not have any rights or preferences other than those specifically set forth herein. The holders of Series
G Preferred Shares shall have no preemptive rights or rights to cumulative voting. In the event that the Trust fails to pay any dividends
and distributions on the Series G Preferred Shares, or fails to complete any voluntary or mandatory redemption, the exclusive remedy of
the holders shall be the right to vote for trustees pursuant to the provisions of this paragraph&nbsp;5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">6.&nbsp;Coverage Tests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;Determination of Compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">For so long as any Series G Preferred Shares
are Outstanding, the Trust shall make the following determinations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(i)&nbsp;Asset Coverage. The Trust shall have
Asset Coverage as of the last Business Day of each March, June, September and December of each year in which any Series G Preferred Shares
are Outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b)&nbsp;Failure to Meet Asset Coverage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">If the Trust fails to have Asset Coverage as
provided in paragraph&nbsp;6(a)(i) hereof and such failure is not cured as of the Series G Asset Coverage Cure Date, (i)&nbsp;the Trust
shall give a Notice of Redemption as described in paragraph&nbsp;4 of Part&nbsp;II hereof with respect to the redemption of a sufficient
number of Preferred Shares, which at the Trust&rsquo;s determination (to the extent permitted by the 1940 Act and Delaware law) may include
any proportion of Series G Preferred Shares, to enable it to meet the requirements of paragraph&nbsp;6(a)(i) above, and, at the Trust&rsquo;s
discretion, such additional number of Series G Preferred Shares or other Preferred Shares in order that the Trust have Asset Coverage
with respect to the Series G Preferred Shares and any other Preferred Shares remaining Outstanding after such redemption as great as 220%,
and (ii)&nbsp;deposit with the Dividend-Disbursing Agent Deposit Assets having an initial combined value sufficient to effect the redemption
of the Series G Preferred Shares or other Preferred Shares to be redeemed, as contemplated by paragraph&nbsp;4 of Part&nbsp;II hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(c)&nbsp;Status of Shares&nbsp;Called for Redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">For purposes of determining whether the requirements
of paragraph&nbsp;6(a)(i) hereof are satisfied, (i)&nbsp;no Series G Preferred Share shall be deemed to be Outstanding for purposes of
any computation if, prior to or concurrently with such determination, sufficient Deposit Assets to pay the full Redemption&nbsp;Price
for such share shall have been deposited in trust with the Dividend-Disbursing Agent (or applicable paying agent) and the requisite Notice
of Redemption shall have been given, and (ii)&nbsp;such Deposit Assets deposited with the Dividend-Disbursing Agent (or paying agent)
shall not be included.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">7.&nbsp;Limitation on Incurrence of Additional
Indebtedness and Issuance of Additional Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;So long as any Series G Preferred
Shares are Outstanding and the Trust is permitted to issue indebtedness under its fundamental investment restrictions, the Trust may issue
and sell one or more series of a class of senior securities of the Trust representing indebtedness under Section&nbsp;18 of the 1940 Act
and/or otherwise create or incur indebtedness, provided that, immediately after giving effect to the incurrence of such indebtedness and
to its receipt and application of the proceeds thereof, the Trust shall have an &ldquo;asset coverage&rdquo; for all senior securities
representing indebtedness, as defined in Section&nbsp;18(h) of the 1940 Act, of at least 300% of the amount of all indebtedness of the
Trust then Outstanding and no such additional indebtedness shall have any preference or priority over any other indebtedness of the Trust
upon the distribution of the assets of the Trust or in respect of the payment of interest. Any possible liability resulting from lending
and/or borrowing portfolio securities, entering into reverse repurchase agreements, entering into futures contracts and writing options
or the use of any other financial instrument that may have the effect of creating leverage but is not considered a senior security representing
indebtedness under the 1940 Act, to the extent such transactions are made in accordance with the investment restrictions of the Trust
then in effect, shall not be considered to be indebtedness limited by this paragraph&nbsp;7(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b)&nbsp;So long as any Series G Preferred
Shares are Outstanding, the Trust may issue and sell shares of one or more other series of Preferred Shares constituting a series of a
class of senior securities of the Trust representing stock under Section&nbsp;18 of the 1940 Act in addition to the Series G Preferred
Shares and other Preferred Shares then Outstanding, provided that (i)&nbsp;the Trust shall, immediately after giving effect to the issuance
of such additional Preferred Shares and to its receipt and application of the proceeds thereof, including, without limitation, to the
redemption of Preferred Shares for which a Notice of Redemption&nbsp;has been mailed prior to such issuance, have an &ldquo;asset coverage&rdquo;
for all senior securities which are stock, as defined in Section&nbsp;18(h) of the 1940 Act, of at least 200% of the sum of the Liquidation
Preference of the Series G Preferred Shares and all other Preferred Shares then Outstanding, and (ii)&nbsp;no such additional Preferred
Shares shall have any preference or priority over any other Preferred Shares upon liquidation or the distribution of the assets of the
Trust or in respect of the payment of dividends.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">8. Treatment of Series G Preferred Shares for
Tax Purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Unless otherwise required by law, the holders
of the Series G Preferred Shares shall treat Series G Preferred Shares as equity of the Trust for all U.S. federal, local and other income
tax purposes.</P>




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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>ABILITY OF THE BOARD OF TRUSTEES TO MODIFY
</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(a)&nbsp;So long as any Series G Preferred
Shares are Outstanding, the Trust shall not amend, alter or repeal the provisions of this Statement of Preferences so as to in the aggregate
materially and adversely affect the rights and preferences set forth in any Statement of Preferences, including those of the Series G
Preferred Shares, without the affirmative vote of the holders of a majority (as defined in the 1940 Act) of the Preferred Shares Outstanding
at the time and present and voting on such matter, voting separately as one class. To the extent permitted under the 1940 Act, in the
event that more than one series of Preferred Shares is Outstanding, the Trust shall not effect any of the actions set forth in the preceding
sentence which in the aggregate materially and adversely affects the rights and preferences set forth in the Statement of Preferences
for a series of Preferred Shares differently than such rights and preferences for any other series of Preferred Shares without the affirmative
vote of the holders of at least a majority of the Preferred Shares Outstanding and present and voting on such matter of each series materially
and adversely affected (each such materially and adversely affected series voting separately as a class to the extent its rights are affected
differently). The holders of the Series G Preferred Shares shall not be entitled to vote on any matter that affects the rights or interests
of only one or more other series of Preferred Shares. Unless a higher percentage is required under the Governing Documents or applicable
provisions of the Delaware Statutory Trust Act or the 1940 Act, the affirmative vote of the holders of a majority of the Outstanding Preferred
Shares, including Series G Preferred Shares, voting together as a single class, will be required to approve any plan of reorganization
adversely affecting the Preferred Shares or any action requiring a vote of security holders under Section&nbsp;13(a) of the 1940 Act.
For purposes of this paragraph&nbsp;1(a) of Part&nbsp;III, the phrase &ldquo;vote of the holders of a majority of the Outstanding Preferred
Shares&rdquo; or series or series thereof (or any like phrase) shall mean, in accordance with Section&nbsp;2(a)(42) of the 1940 Act, the
vote, at the annual or a special meeting of the shareholders of the Trust duly called (i) of 67 percent or more of the Preferred Shares
or series thereof present at such meeting, if the holders of more than 50 percent of the Outstanding Preferred Shares or series thereof
are present or represented by proxy; or (ii) of more than 50 percent of the Outstanding Preferred Shares or series thereof, whichever
is less. The class vote of holders of Preferred Shares described above will in each case be in addition to a separate vote of the requisite
percentage of Common Shares and Preferred Shares, including Series G Preferred Shares, voting together as a single class, necessary to
authorize the action in question. An increase in the number of authorized Preferred Shares pursuant to the Governing Documents or the
issuance of additional shares of any series of Preferred Shares (including Series G Preferred Shares) pursuant to the Governing Documents
shall not in and of itself be considered to materially and adversely affect the rights and preferences of Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">(b) Notwithstanding the provisions of this
Part&nbsp;III, to the extent permitted by law, the Board of Trustees or its delegatee, without the vote of the holders of the Series G
Preferred Shares or any other capital shares of the Trust, may amend the provisions of this Statement of Preferences to resolve any inconsistency
or ambiguity or to remedy any formal defect so long as the amendment does not in the aggregate adversely affect the rights and preferences
of the Series G Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">2. No Modification of Other Series of Preferred
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Nothing contained in this Statement of Preferences
creating the Series G Preferred Shares shall be understood to modify the rights, obligations or privileges of any other series of the
Trust&rsquo;s Preferred Shares Outstanding. To the extent permitted by law, the Board of Trustees, without the vote of the holders of
the Series G Preferred Shares or any other shares of the Trust, may amend the provisions of this Statement of Preferences to resolve any
inconsistency or ambiguity or to remedy any formal defect so as to negate the effect of any such modification of the rights, obligations
or privileges of any other series of the Trust&rsquo;s Preferred Shares Outstanding, so long as the amendment does not in the aggregate
adversely affect the rights and preferences of the Series G Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</P>

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

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">IN WITNESS WHEREOF, The GDL Fund has caused this Statement of Preferences
to be signed in its name and on its behalf by a duly authorized officer, who acknowledges said instrument to be the statutory trust act
of the Trust, and states that, to the best of such officer&rsquo;s knowledge, information and belief under penalty of perjury, the matters
and facts herein set forth with respect to approval are true in all material respects, as of March 18, 2025.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ John C. Ball</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 10pt">John C. Ball</FONT></TD>
    <TD STYLE="width: 27%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">President and Treasurer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 35%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Peter Goldstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 86%"><FONT STYLE="font-size: 10pt">Peter Goldstein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Secretary and Vice President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>[GDL Series G Statement of Preferences Signature
Page</I>]</P>

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

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>gdl-20250402.xsd
<DESCRIPTION>XBRL SCHEMA FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
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    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +6spw7xRiXhun8uCbn1MSaeHabP9w5dzmelBtm93HXlaXyAlB793KCKo5ahWsa4G -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2024" xmlns:us-gaap="http://fasb.org/us-gaap/2024" xmlns:srt="http://fasb.org/srt/2024" xmlns:srt-types="http://fasb.org/srt-types/2024" xmlns:GDL="http://gabelli.com/20250402" elementFormDefault="qualified" targetNamespace="http://gabelli.com/20250402">
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          <link:usedOn>link:calculationLink</link:usedOn>
          <link:usedOn>link:definitionLink</link:usedOn>
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    <import namespace="http://xbrl.sec.gov/dei/2024" schemaLocation="https://xbrl.sec.gov/dei/2024/dei-2024.xsd" />
    <import namespace="http://fasb.org/us-gaap/2024" schemaLocation="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd" />
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    <import namespace="http://xbrl.sec.gov/country/2024" schemaLocation="https://xbrl.sec.gov/country/2024/country-2024.xsd" />
    <import namespace="http://fasb.org/srt/2024" schemaLocation="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd" />
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</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>4
<FILENAME>gdl-20250402_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
<XBRL>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>gdl-20250402_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Apr. 02, 2025</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Apr.  02,  2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">811-21969<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">The GDL Fund<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001378701<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">20-8195443<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">One Corporate Center<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Rye<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10580-1422<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(800)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">422-3554<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Shares of Beneficial Interest<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">GDL<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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