Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 69

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 69
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 denominated payments may be exchanged
for payments denominated in foreign currencies, and payments tied to the price of one security, index, reference rate, currency or other
instrument may be exchanged for payments tied to the price of a different security, index, reference rate, currency or other instrument.
Swap contracts are typically individually negotiated and structured to provide exposure to a variety of particular types of investments
or market factors. Swap contracts can take many different forms and are known by a variety of names. To the extent consistent with the
Fund’s investment objectives and policies, the Fund is not limited to any particular form or variety of swap contract. The Fund
may utilize swaps to increase or decrease their exposure to the underlying instrument, reference rate, foreign currency, market index
or other asset. The Fund may also enter into related derivative instruments including caps, floors and collars.

Interest Rate Swaps, Caps, Floors and Collars.
Interest rate swaps consist of an agreement between two parties to exchange their respective commitments to pay or receive interest (e.g.,
an exchange of floating rate payments for fixed rate payments). Interest rate swaps are generally entered into on a net basis.

The Fund may also buy or sell interest rate
caps, floors and collars. The purchase of an interest rate cap entitles the purchaser, to the extent that a specified index exceeds a
predetermined interest rate, to receive payments of interest on a specified notional amount from the party selling the interest rate
cap. The purchase of an interest rate floor entitles the purchaser, to the extent that a specified index falls below a predetermined
interest rate, to receive payments of interest on a specified notional amount from the party selling the interest rate floor. A collar
is a combination of a cap and a floor that preserves a certain return within a predetermined range of interest rate of values. Caps,
floors and collars may be less liquid that other types of swaps.

Index Swaps. An index swap consists
of an agreement between two parties in which a party exchanges a cash flow based on a notional amount of a reference index for a cash
flow based on a different index or on another specified instrument or reference rate. Index swaps are generally entered into on a net
basis.

Currency Swaps. A currency swap consists
of an agreement between two parties to exchange cash flows on a notional amount of two or more currencies based on the relative value
differential among them, such as exchanging a right to receive a payment in foreign currency for the right to receive U