Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 83

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 83
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 a RIC for its fiscal year ending November 30, 2018, and thereafter.

In order to qualify to be taxed
as a RIC, the Fund must, among other things: (i) derive in each taxable year at least 90% of its gross income from the following sources,
which are referred herein as “Qualifying Income”: (a) dividends, interest (including tax-exempt interest), payments with respect
to certain securities loans, gains from the sale or other disposition of stock, securities, or foreign currencies, or other income (including,
but not limited to, gain from options, futures and forward contracts) derived with respect to its business of investing in such stock,
securities or currencies and (b) net income derived from interests in certain publicly traded partnerships that are treated as partnerships
for U.S. federal income tax purposes and derive less than 90% of their gross income from the items described in clause (a) above
(each a “Qualified Publicly Traded Partnership”), which includes most MLPs; and (ii) diversify its holdings so that, at the
end of each quarter of each taxable year (a) at least 50% of the value of the Fund’s total assets is represented by cash and cash
items, U.S. government securities, the securities of other RICs and other securities, with such other securities limited, in respect of
any one issuer, to an amount not greater than 5% of the value of the Fund’s total assets and not more than 10% of the outstanding
voting securities of such issuer and (b) not more than 25% of the value of the Fund’s total assets is invested in the securities
of (I) any one issuer (other than U.S. government securities and the securities of other RICs), (II) any two or more issuers (other than
RICs) that the Fund controls and that are determined to be engaged in the same business or similar or related trades or businesses or
(III) any one or more Qualified Publicly Traded Partnerships. The Fund may generate certain income that might not qualify as good income
for purposes of the 90% annual gross income requirement described above. The Fund will monitor the Fund’s transactions to endeavor
to prevent the Fund’s disqualification as a RIC.

Income from the Fund’s
investments in equity interests of partnerships that are not Qualified Publicly Traded Partnerships (if any) will be Qualifying