Company: ECC-PD
Filing Date: 2025-02-04
Form Type: 40-APP/A
Source: 0001104659-25-008762
Chunk: 23

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-02-04
Form: 40-APP/A
Chunk 23
---
ulated Funds and Affiliated Funds may rely on the Order to make such Follow-On Investment subject to the requirements
of Condition 9. These enhanced review requirements constitute an “onboarding process” whereby Regulated Funds and Affiliated
Funds may utilize the Order to participate in Co-Investment Transactions even though they already hold Pre-Boarding Investments. For
a given issuer, the participating Regulated Funds and Affiliated Funds need to comply with these requirements only for the first Co-Investment
Transaction. Subsequent Co-Investment Transactions with respect to the issuer will be governed by Condition 8 under the standard review
process.

4. Dispositions

The Regulated Funds and Affiliated
Funds may be presented with opportunities to sell, exchange or otherwise dispose of securities in a transaction that would be prohibited
by Rule 17d-1 or Section 57(a)(4), as applicable. If the Order is granted, such Dispositions will be made in a manner that,
over time, is fair and equitable to all of the Regulated Funds and Affiliated Funds and in accordance with procedures set forth in the
proposed Conditions to the Order and discussed below.

The Order would divide these
Dispositions into two categories: (i) if the Regulated Funds and Affiliated Funds holding investments in the issuer have previously
participated in a Co-Investment Transaction with respect to the issuer and continue to hold any securities acquired in a Co-Investment
Transaction for such issuer, then the terms and approval of the Disposition (hereinafter referred to as “Standard Review Dispositions”)
would be subject to the process discussed in Section III.A.4.a. below and governed by Condition 6; and (ii) if the Regulated
Funds and Affiliated Funds have not previously participated in a Co-Investment Transaction with respect to the issuer, then the terms
and approval of the Disposition (hereinafter referred to as “Enhanced Review Dispositions”) would be subject to the same
“onboarding process” discussed in Section III.A.4.b. below, and governed by Condition 7.

<div align='center'>15</div>

(a). Standard Review Dispositions

A Regulated Fund may participate
in a Standard Review Disposition either with the approval of the Required Majority using the standard procedures required under Condition
6(d) or, where certain additional requirements are met, without Board approval under Condition 6(c).

A Regulated Fund may participate
in a Standard Review Disposition without obtaining