Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 124

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 124
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 the order of the Trustees or of said officer, employee or agent. Every obligation, contract, instrument,
certificate, Share, other security of the Trust or a Series thereof or undertaking, and every other act or thing whatsoever executed in
connection with the Trust shall be conclusively presumed to have been executed or done by the executors thereof only in their capacity
as Trustees under this Declaration or in their capacity as officers, employees or agents of the Trust or a Series thereof. Every written
obligation, contract, instrument, certificate, Share, other security of the Trust or a Series thereof or undertaking made or issued by
the Trustees may recite that the same is executed or made by them not individually, but as Trustees under the Declaration, and that the
obligations of the Trust or a Series thereof under any such instrument are not binding upon any of the Trustees or Shareholders individually,
but bind only the Trust Property or the Trust Property of the applicable Series, and may contain any further recital which they may deem
appropriate, but the omission of such recital shall not operate to bind the Trustees individually. The Trustees may maintain insurance
for the protection of the Trust Property or the Trust Property of the applicable Series, its Shareholders, Trustees, officers, employees
and agents in such amount as the Trustees shall deem adequate to cover possible tort liability, and such other insurance as the Trustees
in their sole judgment shall deem advisable.

Section 7. Reliance on Experts, Etc. Each Trustee, officer or employee of the Trust or a Series thereof shall, in the performance of his duties, powers
and discretions hereunder be fully and completely justified and protected with regard to any act or any failure to act resulting from
reliance in good faith upon the books of account or other records of the Trust or a Series thereof, upon an opinion of counsel, or upon
reports made to the Trust or a Series thereof by any of its officers or employees or by the Investment Adviser, the Administrator, the
Distributor, the Principal Underwriter, Transfer Agent, selected dealers, accountants, appraisers or other experts or consultants selected
with reasonable care by the Trustees, officers or employees of the Trust, regardless of whether such counsel or expert may also be a Trustee.

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

Section 18 of the Investment
Management Agreement between Registrant and Cushing Asset Management, LP provides as follows:

18. Limitation of Liability of the Fund and the