Company: ECC-PD
Filing Date: 2025-02-04
Form Type: 40-APP/A
Source: 0001104659-25-008762
Chunk: 5

Company: Eagle Point Credit Co Inc.
Filing Date: 2025-02-04
Form: 40-APP/A
Chunk 5
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 acquired such securities in the Co-Investment Transaction. For the avoidance of doubt, any such transfer from          
 an Affiliated Fund to an Affiliated Fund CLO will be treated as a Disposition and completed pursuant to terms and conditions of the        
 Application, though Applicants note that the Regulated Funds would be prohibited from participating in such Disposition by Section         
 17(a)(2) or Section 57(a)(2) of the Act, as applicable. The participation by any Affiliated Fund CLO in any such Co-Investment Transaction 
 will remain subject to the Order.                                                                                                          |
| 8 | Section 2(a)(48) defines a BDC to be any closed-end investment company that operates for the purpose                                       
 of making investments in securities described in Section 55(a)(1) through 55(a)(3) and makes available significant managerial assistance   
 with respect to the issuers of such securities.                                                                                            |

<div align='center'>3</div>

“Board-Established Criteria” means criteria that the Board of a Regulated Fund may establish from time to time to describe the characteristics
of Potential Co-Investment Transactions regarding which the Adviser to such Regulated Fund should be notified under Condition 1. The
Board-Established Criteria will be consistent with the Regulated Fund’s Objectives and Strategies (defined below). If no Board-Established
Criteria are in effect, then the Regulated Fund’s Adviser will be notified of all Potential Co-Investment Transactions that fall
within the Regulated Fund’s then-current Objectives and Strategies. Board-Established Criteria will be objective and testable,
meaning that they will be based on observable information, such as industry/sector of the issuer, minimum EBITDA of the issuer, asset
class of the investment opportunity or required commitment size, and not on characteristics that involve a discretionary assessment.
The Adviser to the Regulated Fund may from time to time recommend criteria for the Board’s consideration, but Board-Established
Criteria will only become effective if approved by a majority of the Independent Directors (defined below). The Independent Directors
of a Regulated Fund may at any time rescind, suspend or qualify their approval of any Board-Established Criteria, though the Applicants
anticipate that, under normal circumstances, the Board would not modify these criteria more often than quarterly.

“Close Affiliate”
means the Advisers, the Regulated Funds, the Affiliated Funds and any other person described in Section 57