Company: OXLCZ
Filing Date: 2025-05-20
Form Type: N-CSR
Source: 0001213900-25-045605
Chunk: 28

Company: Oxford Lane Capital Corp.
Filing Date: 2025-05-20
Form: N-CSR
Chunk 28
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 plus the amortization of cost of the Fund’s CLO equity fee notes of approximately $2.5 million. A reduction to cost value is not made for CLO warehouse investments. (2)Totals may not sum due to rounding. There were no transfers in or out of Level 3 during the year ended March 31, 2025.

42 OXFORD LANE CAPITAL CORP.
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2025 NOTE 4. RELATED PARTY TRANSACTIONS Investment Advisory Agreement Effective September 9, 2010, the Fund entered into the Investment Advisory Agreement with Oxford Lane Management, a registered investment adviser under the Advisers Act. Oxford Funds is the managing member of Oxford Lane Management and serves as the administrator of the Fund. Pursuant to the Investment Advisory Agreement, the Fund has agreed to pay Oxford Lane Management a fee for advisory and management services consisting of two components — a base management fee (the “Management Fee”) and an incentive fee (the “Incentive Fee”). The Management Fee is calculated at an annual rate of 2.00% of the Fund’s gross assets. For services rendered under the Investment Advisory Agreement, the Management Fee is payable quarterly in arrears. The Management Fee is calculated based on the average value of the Fund’s gross assets, at the end of the two most recently completed calendar quarters, and appropriately adjusted for any share issuances or repurchases during the current calendar quarter. The Management Fee for any partial month or quarter will be appropriately pro -rated. For the year ended March 31, 2025, the Fund recognized an expense of approximately $44.6 million. At March 31, 2025, the Fund had a Management Fee payable of approximately $13.3 million. The Incentive Fee is calculated and payable quarterly in arrears based on the pre -incentivefee net investment income for the immediately preceding calendar quarter. For this purpose, pre -incentivefee net investment income means income from securitization vehicles and investments, interest income from debt investments and any other income (including any other fees, such as commitment, origination, structuring, diligence and consulting fees or other fees that are received from an investment) accrued during the calendar quarter, minus the Fund’s operating expenses for the quarter (including the Management Fee, expenses payable under the Administration Agreement to Oxford Funds, and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the In