Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 33

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 33
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, on file with the SEC for
the full text of these provisions.

In addition, as a Delaware statutory
trust, the Fund is subject to the Control Share Statute contained in Subchapter III of the DSTA, which became automatically applicable
to listed closed-end funds, such as the Fund, upon its Effective Date of August 1, 2022. The Control Share Statute provides that
an acquirer of shares above a series of voting power thresholds has no voting rights under the DSTA or the governing documents of the
Fund with respect to shares acquired in excess of that threshold (i.e., the “control shares”) unless approved by shareholders.
See “Certain Provisions of Delaware Law, the Declaration of Trust and By-Laws—Delaware Control Share Statute.”

<div align='center'>CERTAIN
PROVISIONS OF DELAWARE LAW, THE DECLARATION OF TRUST
AND BY-LAWS</div>

Classified Board of Trustees

The Board of Trustees is divided
into two classes of trustees serving staggered two-year terms. Upon expiration of their current terms, Trustees of each class will be
elected to serve for two-year terms and until their successors are duly elected and qualified or the Fund terminates, and each year one
class of Trustees will be elected by the shareholders. A classified board may render a change in control of the Fund or removal of the
Fund’s incumbent management more difficult. The Fund believes, however, that the longer time required to elect a majority of a classified
Board of Trustees will help to ensure the continuity and stability of its management and policies.

Election of Trustees

The Declaration of Trust provides
that the affirmative vote of the holders of a plurality of the outstanding shares entitled to vote in the election of Trustees will be
required to elect a Trustee.

Number of Trustees; Vacancies;
Removal

The Declaration of Trust provides
that the number of Trustees will be set by the Board of Trustees. The Declaration of Trust provides that a majority of the Fund’s
Trustees then in office may at any time increase or decrease the number of Trustees provided there will be at least one Trustee. As soon
as any such Trustee has accepted his appointment in writing, the trust estate will vest in the new Trustee, together with the continuing
Trustees, without any further act or conveyance, and he will be deemed a Trustee thereunder. The Trustees’ power of appointment
is subject to Section 16(a) of the 1940 Act