Document:

Description of securities

 Exhibit 4.1 

DESCRIPTION OF SECURITIES 

Capitalized terms used but not defined herein have the meaning ascribed to them in the annual report on Form
10-K to which this Description of Securities is an exhibit (the “Annual Report”). 
 Description of our
Units 
 Limited Liability Company Units 

Under the terms of the LLC Agreement, we retained the right to issue our Units during the Closing Period, which ended on January 14, 2019.

 Unitholders are entitled to one vote for each Unit held on all matters submitted to a vote of Unitholders and do not have cumulative
voting rights. Accordingly, subject to the rights of any outstanding Preferred Units, holders of a majority of the Units entitled to vote in any election of directors may elect all of the directors standing for election. Any Units held by the
Adviser shall be voted by or on behalf of the Adviser in the same proportion as the Units not held by the Adviser are voted. Unitholders are entitled to receive proportionately any dividends declared by the board of directors, subject to any
preferential dividend rights of outstanding Preferred Units. Upon our liquidation, dissolution or winding up, the Unitholders will be entitled to receive ratably our net assets available after the payment of all debts and other liabilities and will
be subject to the prior rights of any outstanding Preferred Units. Unitholders have no redemption or preemptive rights. The rights, preferences and privileges of Unitholders are subject to the rights of the holders of any series of Preferred Units
that we may designate and issue in the future. 
 Preferred Units 

Under the terms of the LLC Agreement, our board of directors is authorized to issue Preferred Units in one or more series without Unitholder
approval. Prior to the issuance of Preferred Units of each series, our board of directors is required by the LLC Agreement to set the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to distributions,
qualifications and terms or conditions of redemption for each series. The 1940 Act as currently in force limits our flexibility as certain rights and preferences of the Preferred Units require, among other things: (i) immediately after issuance
and before any distribution is made with respect to Units, we must meet a coverage ratio of total assets to total senior securities, which include all of our borrowings and Preferred Units, of at least 200% (or 150% as described in the Annual Report
under “—New Legislation Permitting Additional Leverage”); and (ii) the holders of Preferred Units, if any are issued, must be entitled as a class to elect two directors at all times and to elect a majority of the directors if and
for so long as dividends on the Preferred Units are unpaid in an amount equal to two full years of dividends on the Preferred Units. 

Transfer and Resale Restrictions 

Unitholders may not sell, assign, transfer or otherwise dispose of (a “Transfer”) any Units unless (i) we and, if required by
our lending arrangements, our lenders give consent, such consent by us not to be unreasonably withheld, and (ii) the Transfer is made in accordance with applicable securities laws. No Transfer will be effectuated except by registration of the
Transfer on our books. Each transferee must agree to be bound by these restrictions and all other obligations as a Unitholder. There is currently no market for the Units, and there can be no assurance that a market for the Units will develop in the
future. 
 Delaware Law and Certain Limited Liability Company Agreement Provisions 

Organization and Duration 

We were formed on May 23, 2017, and will remain in existence until dissolved in accordance with our LLC Agreement or pursuant to Delaware
law. 
 Purpose 

Under the LLC Agreement, we are permitted to engage in any lawful act or activity for which limited liability companies may be formed under the
laws of the State of Delaware and we have all the powers available to us as a limited liability company formed under the laws of the State of Delaware. 

 Agreement to be Bound by the LLC Agreement; Power of Attorney 

By subscribing for the Units, investors will be admitted as a member of the Company and will be deemed to have agreed to be bound by the terms
of the LLC Agreement. Pursuant to the LLC Agreement, each Unitholder and each person who acquires Units from a Unitholder grants to certain of our officers (and, if appointed, a liquidator) a power of attorney to, among other things, execute and
file documents required for our qualification, continuance or dissolution. The power of attorney also grants our board of directors the authority to make certain amendments to, and to make consents and waivers under and in accordance with, the LLC
Agreement. 
 Capital Call Mechanics 

From time to time in its discretion, the Adviser may draw down all or any portion of the Undrawn Commitment with respect to each Unit upon at
least ten business days’ prior written notice to the Unitholders. The Undrawn Commitment per Unit will equal $100 reduced by the Original Issuance Price and any amounts that have already been contributed (or deemed contributed) with respect to
such Unit; provided, that, (a) the Undrawn Commitment of a Unit will not be reduced for any Earnings Balancing Contributions or Late-Closer Contributions made by a Unitholder, (b) the Undrawn Commitment will be increased for certain
distributions attributable to True-Up Contributions (as described in “Item 1. Business—The Private Offering—Closing Period” in the Annual Report), (c) the Undrawn
Commitment will be increased for distributions of any amounts that were contributed in anticipation of a potential portfolio investment that the Company did not consummate within 90 days of the contribution date and (d) the Undrawn Commitment
will be increased for any Recallable Amount. 
 Each capital call will be issued in the amount per Unit specified by us, and such amount
will be applicable to all Units outstanding as of the date such capital call is due to be contributed to us; provided, that, in connection with the issuance of any new Units, the amount to be contributed as payment for such newly issued Units will
be determined in accordance with “Item 1. Business—The Private Offering—Closing Period” in the Annual Report. 

During the Commitment Period, the Adviser may issue capital calls for any permitted Company purpose. After the expiration of the Commitment
Period, Unitholders will be released from any further obligation with respect to their Undrawn Commitments, except to the extent necessary to: (i) cover our expenses, liabilities (including the repayment of any indebtedness) and obligations or
reserves therefor, including, without limitation, indemnification obligations, Management Fees and Incentive Fees, (ii) complete investments by the Company in transactions that were significantly in process as of the end of the Commitment
Period and as to which the Company and the prospective portfolio company have commenced, in good faith, negotiating the terms of the investment and which the Adviser reasonably expects to be consummated prior to the date that is 90 days after the
date of the expiration of the Commitment Period, and (iii) effect follow-on investments in existing portfolio companies up to an aggregate maximum of 10% of aggregate Commitments. 

In addition to making contributions of its Undrawn Commitments, a Unitholder may be required to
re-contribute amounts previously distributed to it with respect to its Units, equal to (a) such Unitholder’s share of all portfolio investments that are repaid to the Company, or otherwise recouped
by the Company, and distributed to the Unitholder, in whole or in part, during or after the Commitment period, reduced by (b) all re-contributions made by such Unitholder. For the avoidance of doubt, if
the amount of any deemed contribution or deemed distribution is disregarded, the sum of total contributions and re-contributions, minus any distributions, will not exceed a Unitholder’s Commitment. 

Action by Unitholders 

Under the LLC Agreement, Unitholder action can be taken only at an annual or special meeting of Unitholders or by written consent in lieu of a
meeting by Unitholders representing at least the number of Units required to approve the matter in question. The LLC Agreement provides that with respect to an annual or special meeting of Unitholders, nominations of persons for election to the
board of directors and the proposal of business to be considered by Unitholders may be made only pursuant to our notice of the meeting, as determined by our board of directors. 

Amendment of the Limited Liability Company Agreement; No Approval by Unitholders 

Except as otherwise provided in the LLC Agreement, the terms and provisions of the LLC Agreement may be amended (which term includes any
waiver, modification, or deletion of the LLC Agreement) during or after the term of the Company, with the prior written consent of (i) in the case of an amendment not affecting the rights of the Preferred Unitholders, a majority in interest of
the Unitholders, (ii) in the case of an amendment not affecting the rights of a Unitholder (including rights or protections with respect to tax consequences of Unitholders), a majority in interest of the Preferred Unitholders, and (iii) in
case of an amendment affecting the 

 
rights (including rights or protections with respect to tax consequences of Unitholders) of both the Unitholders and the Preferred Unitholders, a majority in interest of the Unitholders and a
majority in interest of the Preferred Unitholders. Notwithstanding the immediately preceding sentence, amendments in connection with a Reorganization and certain other limited amendments, as set forth in the LLC Agreement, may be made with the
consent of the board of directors and without the need to seek the consent of any Unitholder. 
 Default Provisions 

Pursuant to the LLC Agreement, if a Unitholder fails to make a capital contribution when due, interest will accrue at the Default Rate on the
outstanding unpaid balance of such capital contribution. The “Default Rate” with respect to any period will be the lesser of (a) a variable rate equal to the prime rate of interest (as reported in The Wall Street Journal)
during such period plus 6% or (b) the highest interest rate for such period permitted by applicable law. The Company, in its discretion, may waive the requirement to pay interest, in whole or in part. 

In addition, if any Unitholder fails to make a capital contribution when due, and has also failed to make such payment on or before the date
that is seven business days after the Company has given written notice to such Unitholder of such Unitholder’s failure to make such contribution, then the Company may, in its discretion, and subject to applicable law, take any actions available
under the LLC Agreement or at law or at equity, which may include causing such defaulting Unitholder to forfeit a significant portion of its Units or to transfer its Units to a third party for a price that is less than the net asset value of such
Units. 
 Merger, Sale or Other Disposition of Assets 

The board of directors may, without the approval of holders of our outstanding Units, cause us to, among other things, sell, exchange or
otherwise dispose of all or substantially all of our assets in a single transaction or a series of related transactions, or approve on our behalf the sale, exchange or other disposition of all or substantially all of our assets. The board of
directors may also cause the sale of all or substantially all of our assets under a foreclosure or other realization without Unitholder approval. Unitholders are not entitled to dissenters’ rights of appraisal under the LLC Agreement or
applicable Delaware law in the event of a merger or consolidation, a sale of all or substantially all of our assets or any other similar transaction or event. 

Term of the Company 

Under the terms of the LLC Agreement, our term will expire on the sixth anniversary of the Initial Closing Date, April 13, 2024; provided,
that, it may be extended by our board of directors for two additional one-year periods upon written notice to the members at least 90 days prior to the expiration of the term or the end of the first one-year period, as the case may be, and, thereafter, for additional one-year periods with the consent of Unitholders holding 66 2/3% of our outstanding Units. 

The Company shall be dissolved (i) upon the expiration of its term (as such term may be extended pursuant to the preceding paragraph),
(ii) upon the determination by our board of directors in its sole discretion to dissolve the Company because it has determined that there is a substantial likelihood that due to a change in the text, application or interpretation of the
provisions of the U.S. federal securities laws (including the Securities Act, the 1940 Act and the Advisers Act) or the provisions of the United States Employee Retirement Income Security Act of 1974, as amended (“ERISA”) (including the
applicable regulations of the U.S. Department of Labor included within 29 C.F.R. section 2510.3-101, as modified by Section 3(42) of ERISA and otherwise from time to time), the Code, or any other
applicable statute, regulation, case law, administrative ruling or other similar authority (including changes that result in the Company being taxable as a corporation or association under U.S. federal income tax law), the Company cannot operate
effectively in the manner contemplated herein, (iii) if there are no Unitholders, unless the business of the Company is continued in accordance with the LLC Agreement or applicable law, or (iv) upon the entry of a decree of judicial
dissolution under applicable law. 
 Notwithstanding the foregoing, if the Company becomes the Public Fund or the Extension Fund, its term
will continue as will be more fully described at the time of the Reorganization. 
 Books and Reports 

We are required to keep appropriate books of our business at our principal offices. The books will be maintained for both tax and financial
reporting purposes on an accrual basis in accordance with U.S. generally accepted accounting principles (“GAAP”). For tax and financial reporting purposes, our fiscal year is a calendar year ending December 31, unless otherwise
required by the Code or permitted by law. 

 Indemnification of Directors and Officers. 

Limitation on Liability of Directors and Officers; Indemnification and Advance of Expenses 

Under the LLC Agreement, we will fully indemnify any person who was or is involved in any actual or threatened action, suit or proceeding by
reason of the fact that such person is or was one of our directors or officers. So long as we are regulated under the 1940 Act, the above indemnification and limitation of liability is limited by the 1940 Act or by any valid rule, regulation or
order of the SEC thereunder. The 1940 Act provides, among other things, that a company may not indemnify any director or officer against liability to it or its security holders to which he or she might otherwise be subject by reason of his or her
willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office unless a determination is made by final decision of a court, by vote of a majority of a quorum of directors who are
disinterested, non-party directors or by independent legal counsel that the liability for which indemnification is sought did not arise out of the foregoing conduct. In addition, we have obtained liability
insurance for our officers and directors. 
 Under the Advisory Agreement, we may, to the extent permitted by applicable law, in the
discretion of our board of directors, indemnify the Adviser and certain of its affiliates, as described under “Item 1. Business—Investment Management and Advisory Agreement” in the Annual Report. 

Conflict with 1940 Act 
 The LLC Agreement
provides that, if and to the extent that any provision of the law of the State of New York or any provision of the LLC Agreement conflicts with any applicable provisions of the 1940 Act, the applicable provision of the 1940 Act will control.Exhibit 4.2

 

DESCRIPTION OF SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF
THE SECURITIES

EXCHANGE ACT OF 1934

 

As of December 31,
2019, Audax Credit BDC Inc. (“we,” “our,” or the “Company”) had one class of securities registered
under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock, par value $0.001 per share (the “Common
Stock”). Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Annual Report on Form
10-K to which this Description of Securities is attached as an exhibit (the “Form 10-K”).

 

The following description
is based on relevant portions of the Delaware General Corporation Law (the “DGCL”), our certificate of incorporation
and our bylaws. This summary is a description of the material terms of, and is qualified in its entirety by, our certificate of
incorporation and bylaws, each of which is incorporated by reference as an exhibit to the Form 10-K, and may not contain all of
the information that is important to you. We refer you to the DGCL and our certificate of incorporation and bylaws for a more detailed
description of the provisions summarized below.

 

Our authorized stock
consists of 100,000,000 shares of Common Stock. There are no outstanding options or warrants to purchase our stock. No Common
Stock has been authorized for issuance under any equity compensation plans. Under Delaware law, our stockholders generally are
not personally liable for our debts or obligations. Under our certificate of incorporation, our Board of Directors is authorized
to classify and reclassify any unissued shares of stock into other classes or series of stock without obtaining stockholder approval.

 

Common Stock

 

All shares of our
Common Stock have equal rights as to earnings, assets, dividends and other distributions and voting and, when they are
issued, will be duly authorized, validly issued, fully paid and nonassessable. Distributions may be paid to the holders of
our Common Stock if, as and when authorized by our Board of Directors and declared by us out of legally available funds.
Shares of our Common Stock have no preemptive, exchange, conversion or redemption rights and are freely transferable, except
when their transfer is restricted by federal and state securities laws or by contract. In the event of our liquidation,
dissolution or winding up, each share of our Common Stock would be entitled to share ratably in all of our assets that are
legally available for distribution after we pay all debts and other liabilities and subject to any preferential rights of
holders of our preferred stock, if any preferred stock is authorized and outstanding at such time. Each share of our Common
Stock is entitled to one vote on all matters submitted to a vote of stockholders, including the election of directors. Except
as provided with respect to any other class or series of stock, the holders of our Common Stock possess exclusive voting
power. There is no cumulative voting in the election of directors, which means that holders of a majority of the outstanding
shares of Common Stock can elect all of our directors, and holders of less than a majority of such shares are not able to
elect any directors. In the event that any investor in our Shares is subject to Section 12(d) of the Investment Company Act
of 1940, as amended (the “1940 Act”), such investor will either (1) seek instructions from its security holders
with regard to the voting of all proxies with respect to any stockholder vote and will vote such proxies in accordance with
such instructions of its security holders or (2) vote the Shares held by such investor in the same proportion as the vote of
all other holders of the Common Stock.

 

     

     

    

 

 

Provisions of the DGCL and Our Certificate
of Incorporation and Bylaws

 

Limitation on Liability of Directors
and Officers; Indemnification and Advance of Expenses

 

The indemnification
of our officers and directors is governed by Section 145 of the DGCL, and our certificate of incorporation and bylaws. Subsection
(a) of DGCL Section 145 empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party
to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other
than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action,
suit or proceeding if (1) such person acted in good faith, (2) in a manner such person reasonably believed to be in or not opposed
to the best interests of the corporation and (3) with respect to any criminal action or proceeding, such person had no reasonable
cause to believe the person’s conduct was unlawful.

  

Subsection (b) of DGCL
Section 145 empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact
that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise
against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection with the defense
or settlement of such action or suit if such person acted in good faith and in a manner the person reasonably believed to be in,
or not opposed to, the best interests of the corporation, and except that no indemnification may be made in respect of any claim,
issue or matter as to which such person has been adjudged to be liable to the corporation unless and only to the extent that the
Delaware Court of Chancery or the court in which such action or suit was brought determines upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity
for such expenses which the Court of Chancery or such other court deems proper.

 

     

     

    

 

DGCL Section 145
further provides that to the extent that a present or former director or officer is successful, on the merits or otherwise,
in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any
claim, issue or matter therein, such person will be indemnified against expenses (including attorneys’ fees) actually
and reasonably incurred by such person in connection with such action, suit or proceeding. In all cases in which
indemnification is permitted under subsections (a) and (b) of Section 145 (unless ordered by a court), it will be made by the
corporation only as authorized in the specific case upon a determination that indemnification of the present or former
director, officer, employee or agent is proper in the circumstances because the applicable standard of conduct has been met
by the party to be indemnified. Such determination must be made, with respect to a person who is a director or officer at the
time of such determination, (1) by a majority vote of the directors who are not parties to such action, suit or proceeding,
even though less than a quorum, (2) by a committee of such directors designated by majority vote of such directors, even
though less than a quorum, (3) if there are no such directors, or if such directors so direct, by independent legal counsel
in a written opinion or (4) by the stockholders. The statute authorizes the corporation to pay expenses incurred by an
officer or director in advance of the final disposition of a proceeding upon receipt of an undertaking by or on behalf of the
director or officer to repay such amount if it is ultimately determined that such person is not entitled to be indemnified by
the corporation as authorized. DGCL Section 145 also provides that indemnification and advancement of expenses permitted
under such Section are not to be exclusive of any other rights to which those seeking indemnification or advancement of
expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. DGCL
Section 145 also authorizes the corporation to purchase and maintain liability insurance on behalf of its directors,
officers, employees and agents regardless of whether the corporation would have the statutory power to indemnify such persons
against the liabilities insured.

 

Our certificate of
incorporation provides that our directors will not be liable to us or our stockholders for monetary damages for breach of fiduciary
duty as a director to the fullest extent permitted by the current DGCL or as the DGCL may hereafter be amended. DGCL Section 102(b)(7)
provides that the personal liability of a director to a corporation or its stockholders for breach of fiduciary duty as a director
may be eliminated except for liability (1) for any breach of the director’s duty of loyalty to the corporation or its stockholders,
(2) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) under Section
174 of the DGCL, relating to unlawful payment of dividends or unlawful stock purchases or redemption of stock or (4) for any transaction
from which the director derives an improper personal benefit.

 

Our bylaws provide
for the indemnification of any person to the fullest extent permitted, and in the manner provided, by the current DGCL or as the
DGCL may hereafter be amended. In addition, we have entered into indemnification agreements with each of our directors and officers
in order to effect the foregoing except to the extent that such indemnification would exceed the limitations on indemnification
under Section 17(h) of the 1940 Act.

 

Election of Directors

 

Our certificate of
incorporation and bylaws provide that the election of a director by stockholders requires the affirmative vote of the holders of
a majority of the votes cast by stockholders present in person or by proxy at an annual or special meeting of stockholders duly
called for such purpose and entitled to vote thereat. Under our certificate of incorporation, our Board of Directors may amend
the bylaws to alter the vote required to elect directors.

 

     

     

    

 

Number of Directors; Vacancies

 

Our certificate of
incorporation provides that the number of directors will be set only by the Board of Directors in accordance with our bylaws.
Our bylaws provide that a majority of our entire Board of Directors may at any time increase or decrease the number of
directors. However, unless our bylaws are amended, the number of directors may never be less than four (4) nor more than ten
(10). Under the DGCL, directors may be removed with or without cause by the holders of a majority of the shares then entitled
to vote at an election of directors. However, under our certificate of incorporation and bylaws, any vacancy on the Board of
Directors, whether resulting from an enlargement of the Board of Directors or stockholder vote, may be filled only by an
affirmative vote of a majority of the remaining directors then in office. The limitations on the ability of our stockholders
to fill vacancies on the Board of Directors could make it more difficult for a third-party to acquire, or discourage a
third-party from seeking to acquire, control of us.

 

Action by Stockholders

 

Under our certificate
of incorporation, stockholder action can be taken only at an annual or special meeting of stockholders or by unanimous written
consent in lieu of a meeting. This may have the effect of delaying consideration of a stockholder proposal until the next annual
meeting.

 

Advance Notice Provisions for Stockholder
Nominations and Stockholder Proposals

 

Our bylaws provide
that with respect to an annual meeting of stockholders, nominations of persons for election to the Board of Directors and the proposal
of business to be considered by stockholders may be made only (1) by or at the direction of the Board of Directors, (2) pursuant
to a notice of meeting or (3) by a stockholder who is entitled to vote at the meeting and who has complied with the advance notice
procedures of the bylaws. Nominations of persons for election to the Board of Directors at a special meeting may be made only (1)
by or at the direction of the Board of Directors or (2) so long as the Board of Directors has determined that directors will be
elected at such special meeting, by a stockholder who is entitled to vote at the meeting and who has complied with the advance
notice provisions of the bylaws.

 

The purpose of requiring
stockholders to give us advance notice of nominations and other business is to afford our Board of Directors a meaningful opportunity
to consider the qualifications of the proposed nominees and the advisability of any other proposed business and, to the extent
deemed necessary or desirable by our Board of Directors, to inform stockholders and make recommendations about such qualifications
or business, as well as to provide a more orderly procedure for conducting meetings of stockholders. Although our bylaws do not
give our Board of Directors any power to disapprove stockholder nominations for the election of directors or proposals recommending
certain action, they may have the effect of precluding a contest for the election of directors or the consideration of stockholder
proposals if proper procedures are not followed and of discouraging or deterring a third party from conducting a solicitation of
proxies to elect its own slate of directors or to approve its own proposal without regard to whether consideration of such nominees
or proposals might be harmful or beneficial to us and our stockholders.

 

     

     

    

 

Stockholder Meetings

 

Our bylaws provide
that any action required or permitted to be taken by stockholders at an annual meeting or special meeting of stockholders may
only be taken if it is properly brought before such meeting and our certificate of incorporation provides that, in lieu of
such a meeting, any such action may be taken by the unanimous written consent of our stockholders. Our certificate of
incorporation and bylaws also provide that, except as otherwise required by law, special meetings of the stockholders can
only be called by the Chairman of the Board of Directors, our Chief Executive Officer or the Board of Directors. In addition,
our bylaws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of
stockholders, including proposed nominations of candidates for election to the Board of Directors. Stockholders at an annual
meeting may only consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at
the direction of the Board of Directors, or by a stockholder of record on the record date for the meeting who is entitled to
vote at the meeting and who has delivered to the Secretary of the Company timely written notice in proper form of the
stockholder’s intention to bring such business before the meeting. These provisions could have the effect of delaying
stockholder actions that are favored by the holders of a majority of our outstanding voting securities until the next
stockholder meeting.

 

Calling of Special Meetings of Stockholders

 

Our certificate of
incorporation and bylaws provide that special meetings of stockholders may only be called by the Chairman of the Board of Directors,
our Chief Executive Officer or the Board of Directors.

  

Conflict with 1940 Act

 

Our bylaws provide
that, if and to the extent that any provision of the DGCL or any provision of our certificate of incorporation or bylaws conflicts
with any provision of the 1940 Act, the applicable provision of the 1940 Act will control.

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