Company: ECC-PD
Filing Date: 2025-02-04
Form Type: 40-APP/A
Source: 0001104659-25-008762
Chunk: 48

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-02-04
Form: 40-APP/A
Chunk 48
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 that controls the BDC Downstream Fund will prepare the report for the relevant Independent Party.

(d). The Independent Directors (including the non-interested members of each Independent Party) will consider at least annually whether continued participation in new and existing Co-Investment Transactions is in the Regulated Fund’s best interests.

11. Record Keeping

Each Regulated Fund will
maintain the records required by Section 57(f)(3) of the Act as if each of the Regulated Funds were a BDC and each of the investments
permitted under these Conditions were approved by the Required Majority under Section 57(f).

12. Director Independence

No Independent Director (including
the non-interested members of any Independent Party) of a Regulated Fund will also be a director, general partner, managing member or
principal, or otherwise be an “affiliated person” (as defined in the Act) of any Affiliated Fund.

13. Expenses

The expenses, if any, associated
with acquiring, holding or disposing of any securities acquired in a Co-Investment Transaction (including, without limitation, the expenses
of the distribution of any such securities registered for sale under the Securities Act) will, to the extent not payable by the Advisers
under their respective advisory agreements with the Regulated Funds and the Affiliated Funds, be shared by the Regulated Funds and the
participating Affiliated Funds in proportion to the relative amounts of the securities held or being acquired or disposed of, as the
case may be.

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14. Transaction Fees 36

Any transaction fee (including
break-up, structuring, monitoring or commitment fees but excluding brokerage or underwriting compensation permitted by Section 17(e) or
57(k)) received in connection with any Co-Investment Transaction will be distributed to the participants on a pro rata basis based on
the amounts they invested or committed, as the case may be, in such Co-Investment Transaction. If any transaction fee is to be held by
an Adviser pending consummation of the transaction, the fee will be deposited into an account maintained by the Adviser at a bank or
banks having the qualifications prescribed in Section 26(a)(1), and the account will earn a competitive rate of interest that will
also be divided pro rata among the participants. None of the Advisers, the Affiliated Funds, the other Regulated Funds or any affiliated
person of the Affiliated Funds or the Regulated Funds will receive any additional compensation