Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 58

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 58
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provided that in either event the continuance must also be approved by a majority of the Independent Trustees, by vote cast in person
at a meeting called for the purpose of voting on such approval.

The Investment Management Agreement
may be terminated at any time, without the payment of any penalty, upon 60 days’ written notice by either party. The Fund may terminate
by action of the Board of Trustees or by a vote of a majority of the Fund’s outstanding voting securities (accompanied by appropriate
notice), and the Investment Management Agreement will terminate automatically upon its assignment (as defined in the 1940 act and the
rules thereunder). The Investment Management Agreement may also be terminated, at any time, without payment of any penalty, by the Board
of Trustees or by vote of a majority of outstanding voting securities, in the event that it is established by a court of competent jurisdiction
that the Investment Adviser or any principal, officer or employee of the Investment Adviser has taken any action that results in a breach
of the covenants of the Investment Adviser set out in the Investment Management Agreement. The Investment Management Agreement will provide
that the Investment Adviser will not be liable for any loss sustained by reason of the purchase, sale or retention of any security, whether
or not such purchase, sale or retention will have been based upon the investigation and research made by any other individual, firm or
corporation, if such recommendation will have been selected with due care and in good faith, except loss resulting from willful misfeasance,
bad faith or gross negligence on the part of the Investment Adviser in performance of its obligations and duties, or by reason of its
reckless disregard of its obligations and duties under the Investment Management Agreement.

<div align='center'>S-5</div>

Pursuant to the Investment Management
Agreement, the Investment Adviser is responsible for managing the portfolio of the Fund in accordance with its stated investment objective
and policies, makes investment decisions for the Fund, placing orders to purchase and sell securities on behalf of the Fund and managing
the other business and affairs of the Fund, all subject to the supervision and direction of the Fund’s Board of Trustees. Although
the Investment Adviser intends to devote such time and effort to the business of the Fund as is reasonably necessary to perform its duties
to the Fund, the services of the Investment Adviser are not exclusive, and the Investment Adviser provides similar services to other clients
and may engage in other activities.

P