Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 167

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 167
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2/3% of the holders of the shares of Preferred Stock outstanding at the time, voting as a separate class, file a voluntary application for relief under federal bankruptcy law or any similar application under state law for so long as we are solvent and do not foresee becoming insolvent.

Except as otherwise permitted by the terms of the Articles Supplementary, so long as any shares of any series of Preferred Stock are outstanding, we will not, without the affirmative vote or consent of the holders of at least two-thirds of shares of Preferred Stock of such series, voting as a separate class, amend, alter or repeal the provisions of the Articles Supplementary relating to such series, whether by merger, consolidation or otherwise, so as to materially and adversely affect any preference, right or power of the Preferred Stock of such series or the holders thereof; provided, however, that (i) a change in our capitalization as described under the heading “- Issuance of Additional Preferred Stock” will not be considered to materially and adversely affect the rights and preferences of Preferred Stock of such series, and (ii) a division of a share of Preferred Stock will be deemed to affect such preferences, rights or powers only if the terms of such division materially and adversely affect the holders of Preferred Stock of such series, provided, however, that no amendment, alteration or repeal of our obligation to (x) pay the Term Redemption Price on the Term Redemption Date for a series, or (y) accumulate dividends at the Fixed Dividend Rate (plus the Default Rate, if applicable) for a Series shall be effected without, in each case, the prior unanimous vote or consent of the holders of such series of Preferred Stock. For purposes of the foregoing, no matter shall be deemed to adversely affect any preference, right or power of a share of Preferred Stock of such series or the holder thereof unless such matter (i) alters or abolishes any preference, right or power of such series of Preferred Stock, or (ii) creates, alters or abolishes any right in respect of redemption of such series of Preferred Stock.

The affirmative vote of the holders of at least a “majority of outstanding Preferred Stock” voting as a separate class, will be required (i) to approve any plan of “reorganization” (as such term is defined in Section 2(a)(33) of the 1940 Act) adversely affecting such shares of Preferred Stock or (ii) any action requiring a vote of stockholders pursuant to Section 13(a) of the 1940 Act. For purposes of