Company: ECC-PD
Filing Date: 2025-02-04
Form Type: 40-APP/A
Source: 0001104659-25-008762
Chunk: 44

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-02-04
Form: 40-APP/A
Chunk 44
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 A) the proposed participation of each Regulated Fund and each Affiliated Fund in such investment is proportionate to its outstanding investments in the issuer or the security at issue, as appropriate, 35immediately preceding the Follow-On Investment; and (B) the Board of the Regulated Fund has approved as being in the best interests of the Regulated Fund the ability to participate in Follow-On Investments on a pro rata basis (as described in greater detail in this Application); or

(ii) it is a Non-Negotiated Follow-On Investment.

| 34 | In determining whether a holding is “immaterial” for purposes of the Order,                                                            
 the Required Majority will consider whether the nature and extent of the interest in the transaction or arrangement is sufficiently    
 small that a reasonable person would not believe that the interest affected the determination of whether to enter into the transaction 
 or arrangement or the terms of the transaction or arrangement.                                                                         |

| 35 | To the extent that a Follow-On Investment opportunity is in a security or arises in respect                                                   
 of a security held by the participating Regulated Funds and Affiliated Funds, proportionality will be measured by each participating          
 Regulated Fund’s and Affiliated Fund’s outstanding investment in the security in question immediately preceding the Follow-On                 
 Investment using the most recent available valuation thereof. To the extent that a Follow-On Investment opportunity relates to an opportunity 
 to invest in a security that is not in respect of any security held by any of the participating Regulated Funds or Affiliated Funds,          
 proportionality will be measured by each participating Regulated Fund’s and Affiliated Fund’s outstanding investment in                       
 the issuer immediately preceding the Follow-On Investment using the most recent available valuation thereof.                                  |

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(c). Standard Board Approval. In all other cases, the Adviser will provide its written recommendation as to the Regulated Fund’s participation to the Eligible Directors and the Regulated Fund will participate in such Follow-On Investment solely to the extent that a Required Majority makes the determinations set forth in Condition 2(c). If the only previous Co-Investment Transaction with respect to the issuer was an Enhanced Review Disposition the Eligible Directors must complete this review of the proposed Follow-On Investment both on a stand-alone basis and together with the Pre-Boarding Investments in relation to the total economic exposure and other terms of the investment.

(d). Allocation. If, with respect to any such Follow-On Investment:

(i) the amount of the opportunity proposed to be made available to any Reg