Company: ECC-PD
Filing Date: 2025-04-30
Form Type: 40-APP/A
Source: 0001104659-25-042630
Chunk: 11

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-04-30
Form: 40-APP/A
Chunk 11
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in which the fund is a participant without first obtaining an order from the SEC.

Section 57(a)(4), in relevant part, prohibits
any person related to a business development company in the manner described in Section 57(b), acting as principal, from knowingly
effecting any transaction in which the business development company is a joint or a joint and several participant with such persons in
contravention of such rules as the Commission may prescribe for the purpose of limiting or preventing participation by the business
development company on a basis less advantageous than that of such person. Section 57(i) provides that, until the SEC prescribes
rules under Section 57(a), the SEC’s rules under Section 17(d) applicable to registered closed-end investment
companies will be deemed to apply to persons subject to the prohibitions of Section 57(a). Because the SEC has not adopted any rules under
Section 57(a), Rule 17d-1 applies to persons subject to the prohibitions of Section 57(a).

Rule 17d-1(b) provides, in relevant
part, that in passing upon applications under the rule, the Commission will consider whether the participation of a registered investment
company in a joint enterprise, joint arrangement or profit-sharing plan on the basis proposed is consistent with the provisions, policies
and purposes of the 1940 Act and the extent to which such participation is on a basis different from or less advantageous than that of
other participants.

| 12 | In the future,                                                                                                                           
 an Affiliated Entity that is not a Regulated Fund may register as a closed-end management investment company or elect to be regulated    
 as a BDC under the 1940 Act and, if so, will be considered a Regulated Fund for purposes of this application.                            |
| 13 | Rule 17d-1(c) defines a “[j]oint enterprise or other joint arrangement                                                                   
 or profit-sharing plan” to include, in relevant part, “any written or oral plan, contract, authorization or arrangement or               
 any practice or understanding concerning an enterprise or undertaking whereby a registered investment company … and any affiliated       
 person of or principal underwriter for such registered company, or any affiliated person of such a person or principal underwriter, have 
 a joint or a joint and several participation, or share in the profits of such enterprise or undertaking ….”                              |

| 10 |

| B. | Need for Relief |

Each Regulated Fund may be deemed to be an affiliated
person of each other Reg