Company: ECC-PD
Filing Date: 2025-02-04
Form Type: 40-APP/A
Source: 0001104659-25-008762
Chunk: 36

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-02-04
Form: 40-APP/A
Chunk 36
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because, among other matters, (i) the Regulated Fund should be able to participate in a larger number and greater variety of transactions;
(ii) the Regulated Fund should be able to participate in larger transactions; (iii) the Regulated Fund should be able to participate
in all opportunities approved by a Required Majority or otherwise permissible under the Order rather than risk underperformance through
rotational allocation of opportunities among the Regulated Funds; (iv) the Regulated Fund and any other Regulated Funds participating
in the proposed investment should have greater bargaining power, more control over the investment and less need to bring in other external
investors or structure investments to satisfy the different needs of external investors; (v) the Regulated Fund should be able to
obtain greater attention and better deal flow from investment bankers and others who act as sources of investments; and (vi) the
Conditions are fair to the Regulated Funds and their shareholders.

B. Protective Representations and Conditions

The Conditions ensure that
the proposed Co-Investment Transactions are consistent with the protection of each Regulated Fund’s shareholders and with the purposes
intended by the policies and provisions of the Act. Specifically, the Conditions incorporate the following critical protections: (i) all
Regulated Funds participating in the Co-Investment Transactions will invest at the same time (except that, subject to the limitations
in the Conditions, the settlement date for an Affiliated Fund in a Co-Investment Transaction may occur up to ten business days after
the settlement date for the Regulated Fund, and vice versa), for the same price and with the same terms, conditions, class, registration
rights and any other rights, so that none of them receives terms more favorable than any other; (ii) a Required Majority of each
Regulated Fund must approve various investment decisions (not including transactions completed on a pro rata basis pursuant to Conditions
6(c)(i) and 8(b)(i) or otherwise not requiring Board approval) with respect to such Regulated Fund in accordance with the Conditions;
and (iii) the Regulated Funds are required to retain and maintain certain records.

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The Applicants believe that
participation by the Regulated Funds in Pro Rata Follow-On Investments and Pro Rata Dispositions, as provided in Conditions 6(c)(i) and
8(b)(i), is consistent with the provisions, policies and purposes of the Act and will not be made on a basis different from or less advantageous