Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 122

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 122
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 entitled, and shall inure to the benefit of the heirs, executors and
administrators of a Covered Person.

(d) To the maximum extent
permitted by applicable law, expenses in connection with the preparation and presentation of a defense to any claim, action, suit or proceeding
of the character described in subsection (a) of this Section may be paid by the Trust or applicable Series from time to time prior
to final disposition thereof upon receipt of an undertaking by or on behalf of such Covered Person that such amount will be paid over
by him to the Trust or applicable Series if it is ultimately determined that he is not entitled to indemnification under this Section;
provided, however, that either (i) such Covered Person shall have provided appropriate security for such undertaking, (ii) the Trust is
insured against losses arising out of any such advance payments or (iii) either a majority of a quorum of the Trustees who are neither
Interested Persons of the Trust nor parties to the matter, or independent legal counsel in a written opinion, shall have determined, based
upon a review of readily available facts (as opposed to a full trial-type inquiry) that there is reason to believe that such Covered Person
will not be disqualified from indemnification under this Section. Independent counsel retained for the purpose of rendering an opinion
regarding advancement of expenses and/or a majority of a quorum of the Trustees who are neither Interested Persons of the Trust nor parties
to the matter, may proceed under a rebuttable presumption that the Covered Person has not engaged in willful misfeasance, bad faith, gross
negligence or reckless disregard of the Covered Person’s duties to the Trust and were based on the Covered Person’s determination
that those actions were in the best interests of the Trust and its Shareholders; provided that the Covered Person is not an Interested
Person (or is an Interested Person solely by reason of being an officer of the Trust).

(e) Any repeal or modification
of this Article IV by the Shareholders, or adoption or modification of any other provision of the Declaration or By-Laws inconsistent
with this Article, shall be prospective only, to the extent that such repeal, or modification would, if applied retrospectively, adversely
affect any limitation on the liability of any Covered Person or indemnification available to any Covered Person with respect to any act
or omission which occurred prior to such repeal, modification or adoption. Any such repeal or modification by the Shareholders shall require
a vote of at least two-thirds of