Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 121

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 121
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 (“Covered Person”) shall be indemnified by the Trust or the appropriate Series to the fullest extent permitted
by law against liability and against all expenses reasonably incurred or paid by him in connection with any claim, action, suit or proceeding
in which he becomes involved as a party or otherwise by virtue of his being or having been a Covered Person and against amounts paid or
incurred by him in the settlement thereof; and

(ii) as used herein,
the words “claim,” “action,” “suit,” or “proceeding” shall apply to all claims, actions,
suits or proceedings (civil, criminal, administrative, investigative, arbitration or other, including appeals), actual or threatened,
and the words “liability” and “expenses” shall include, without limitation, attorneys’ fees, costs, judgments,
amounts paid in settlement, fines, penalties and other liabilities.

(b) No indemnification shall
be provided hereunder to a Covered Person:

(i) who shall have been
adjudicated by a court or body before which the proceeding was brought (A) to be liable to the Trust or its Shareholders by reason of
willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office, or (B) not
to have acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the Trust;
or

(ii) in the event of
a settlement, unless there has been a determination that such Covered Person did not engage in willful misfeasance, bad faith, gross negligence
or reckless disregard of the duties involved in the conduct of his office; (A) by the court or other body approving the settlement; (B)
by at least a majority of those Trustees who are neither Interested Persons of the Trust nor are parties to the matter based upon a review
of readily available facts (as opposed to a full trial-type inquiry); (C) by written opinion of independent legal counsel based upon a
review of readily available facts (as opposed to a full trial-type inquiry) or (D) by a vote of a majority of the Outstanding Shares entitled
to vote (excluding any Outstanding Shares owned of record or beneficially by such individual).

(c) The rights of indemnification
herein provided may be insured against by policies maintained by the Trust, shall be severable, shall not be exclusive of or affect any
other rights to which any Covered Person may now or hereafter be