Company: PDCC
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001398344-25-005419
Chunk: 31

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-03-11
Form: N-CSR
Chunk 31
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 time to time, the Company may be
a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s
rights under contracts. While the outcome of these legal proceedings cannot be predicted with certainty, the Company does not expect these
proceedings will have a material effect upon its financial condition or results of operations.

9. DIRECTORS’ FEES

Directors who are not affiliated with the Advisor
and its affiliates received, as a group, fees of $190,164 from the Fund during the year ended December 31, 2024. Directors fees in the
Fund’s Statement of Operations are shown as $190,164 and no deferred amounts as of the year ended December 31, 2024. Certain directors
and officers of the fund are also officers of the Adviser, such directors and officers are not compensated by the Fund.

10. INDEMNIFICATIONS

Under the Company’s organizational documents,
its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Company.
In addition, during the normal course of business, the Company enters into contracts containing a variety of representations which provide
general indemnifications. The Company’s maximum exposure under these agreements cannot be known; however, the Company expects any
risk of loss to be remote.

11. ASSET COVERAGE

Under the provisions of the 1940 Act, the Company
is permitted to issue senior securities, including debt securities and preferred stock, and borrow from banks or other financial institutions,
provided that the Company satisfies certain asset coverage requirements.

With respect to senior securities that are stocks,
such as the Preferred Stock, the Company is required to have asset coverage of at least 200%, as measured at the time of issuance of any
such senior securities that are stocks and calculated as the ratio of the Company’s total assets, less all liabilities and indebtedness
not represented by senior securities, over the aggregate amount of the Company’s outstanding senior securities representing indebtedness
plus the aggregate liquidation preference of any outstanding shares of senior securities that are stocks.

With respect to senior securities representing indebtedness,
such as any bank borrowings (other than temporary borrowings as defined under the 1940 Act), the Company is required to have asset coverage
of at least 300%, as measured at the time of borrowing and calculated as the ratio of the Company’s total assets, less all liabilities
and indebtedness not represented by senior securities, over the aggregate amount of the Company’s