Company: PNNT
Filing Date: 2025-12-17
Form Type: 40-APP
Source: 0001193125-25-322955
Chunk: 12

Company: PENNANTPARK INVESTMENT CORP
Filing Date: 2025-12-17
Form: 40-APP
Chunk 12
---
 in approximate proportion to its then-current holdings. 3. Related Expenses. Any expenses associated with acquiring, holding or disposing of any securities acquired in a Co-InvestmentTransaction, to the extent not borne by the Adviser(s), will be shared among the Participants in proportion to the relative amounts of the securities being acquired, held or disposed of, as the case may be. 15 4. No Remuneration. Any transaction fee 16(including break-up,structuring, monitoring or commitment fees but excluding broker’s fees contemplated by section 17(e) or 57(k) of the 1940 Act, as applicable), received by an Adviser and/or a Participant in connection with a Co-InvestmentTransaction will be distributed to the Participants on a pro rata basis based on the amounts they invested or committed, as the case may be, in such Co-InvestmentTransaction. If any transaction fee is to be held by an Adviser pending consummation of the transaction, the fee will be deposited into an account maintained by the Adviser at a bank or banks having the qualifications prescribed in section 26(a)(1) of the 1940 Act, and the account will earn a competitive rate of interest that will also be divided pro rata among the Participants based on the amount they invest in such Co-InvestmentTransaction. No Affiliated Entity, Regulated Fund, or any of their affiliated persons will accept any compensation, remuneration or financial benefit in connection with a Regulated Fund’s participation in a Co-InvestmentTransaction, except: (i) to the extent permitted by Section 17(e) or 57(k) of the 1940 Act; (ii) as a result of either being a Participant in the Co-InvestmentTransaction or holding an interest in the securities issued by one of the Participants; or (iii) in the case of an Adviser, investment advisory compensation paid in accordance with investment advisory agreement(s) with the Regulated Fund(s) or Affiliated Entity(ies). 5. Co-InvestmentPolicies. Each Adviser (and each Affiliated Entity that is not advised by an Adviser) will adopt and implement policies and procedures reasonably designed to ensure that: (i) opportunities to participate in Co-InvestmentTransactions are allocated in a manner that is fair and equitable to every Regulated Fund; and (ii) the Adviser negotiating the Co-InvestmentTransaction considers the interest in the Transaction of any participating Regulated Fund (the “ Co-InvestmentPolicies”). Each Adviser