Company: ECC-PD
Filing Date: 2025-02-04
Form Type: 40-APP/A
Source: 0001104659-25-008762
Chunk: 16

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-02-04
Form: 40-APP/A
Chunk 16
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 transaction (unless it is executed in compliance with the Prior Order).

As a result, the Regulated
Funds and Affiliated Funds are limited in the types of transactions in which they can participate with each other, and in the absence
of the requested relief the Regulated Funds would be required to forego certain transactions that would be beneficial to investors in
the Regulated Funds. Thus, the Applicants are seeking the relief requested by the Application for certain initial investments, Follow-On
Investments, and Dispositions as described below.

The Applicants discuss the
need for the requested relief in greater detail in Section III.C. below. The Applicants represent that the Existing Advisers have
established rigorous processes for ensuring compliance with the Order and for allocating initial investment opportunities, opportunities
for subsequent investments in an issuer and dispositions of securities holdings reasonably designed to treat all clients fairly and equitably.
As discussed below, these processes will be extended and modified in a manner reasonably designed to ensure that the additional transactions
permitted under the Order will both (i) be fair and equitable to the Regulated Funds and the Affiliated Funds and (ii) comply
with the Conditions contained in the Order.

<div align='center'>10</div>

1. The Investment Process

The investment process consists
of three stages: (i) the identification and consideration of investment opportunities (including follow-on investment opportunities);
(ii) order placement and allocation; and (iii) consideration by each applicable Regulated Fund’s Board when a Potential
Co-Investment Transaction is being considered by one or more Regulated Funds, as provided by the Order.

(a). Identification and Consideration of Investment Opportunities

The Advisers are organized
and managed such that investment committees (or designated individuals or portfolio managers in lieu of investment committees, as applicable)
(collectively, “Investment Committees”)13
conduct investment review processes and approve specific investment decisions.

Opportunities for Potential
Co-Investment Transactions may arise when the investment advisory personnel of an Adviser become aware of investment opportunities that
may be appropriate for one or more Regulated Funds and/or one or more Affiliated Funds. If the requested Order is granted, the Advisers
will establish, maintain, and implement policies and procedures reasonably designed to ensure that, when such opportunities arise, the
Advisers to the relevant Regulated Funds are promptly notified and receive the same information about the opportunity as any other Advisers
considering the opportunity for their clients. In particular, consistent with Condition 1, if a Potential