Document:

EX-10.2

 Exhibit 10.2 

ADMINISTRATION AGREEMENT 

This Agreement (“Agreement”) is made as of [•], 2021 by and between Kayne DL 2021, Inc, a Delaware corporation
(the “Company”), and KA Credit Advisors II, LLC, a Delaware limited liability company (the “Administrator”). 

W I T N E S S E T H: 

WHEREAS, the Company is a newly organized closed-end management investment fund that intends to elect
to be treated as a business development company (“BDC”) under the Investment Company Act of 1940 (the “Investment Company Act”); 

WHEREAS, the Company desires to retain the Administrator to provide administrative services to the Company in the manner and on the terms
hereinafter set forth; and 
 WHEREAS, the Administrator is willing to provide administrative services to the Company on the terms and
conditions hereafter set forth. 
 NOW, THEREFORE, in consideration of the premises and the covenants hereinafter contained and for other
good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Company and the Administrator hereby agree as follows: 

1. Duties of the Administrator 

(a) Engagement of Administrator. The Company hereby retains the Administrator to act as administrator of the Company, and to furnish or
arrange for others to furnish the administrative services, personnel and facilities described below, subject to review by and the overall control of the Board of Directors of the Company (the “Board”), for the period and on
the terms and conditions set forth in this Agreement. The Administrator hereby accepts such retention and agrees during such period to render, or arrange for the rendering of, such services and to assume the obligations herein set forth subject to
the reimbursement of costs and expenses provided for below. The Administrator, and any others with whom the Administrator subcontracts to provide the services set forth herein, shall for all purposes herein be deemed to be independent contractors of
the Company and shall, unless otherwise expressly provided or authorized herein or in another contract with the Company, have no authority to act for or represent the Company in any way or otherwise be deemed agents of the Company. 

(b) Services. The Administrator shall perform (or oversee, or arrange for, the performance of) the administrative services necessary for
the operation of the Company. Without limiting the generality of the foregoing, the Administrator shall provide the Company with office facilities, equipment, clerical, bookkeeping, compliance, and record keeping services at such facilities and such
other services as the Administrator, subject to review by the Board, shall from time to time determine to be necessary or useful to perform its obligations under this Agreement. The Administrator shall also, on behalf of the Company, conduct
relations with custodians, depositories, transfer agents, dividend disbursing agents, other stockholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks, and other persons in any
other capacity deemed by the Administrator to be necessary or desirable. The Administrator shall make reports to the Board of its performance of its obligations 

 
hereunder and shall furnish advice and recommendations with respect to such other aspects of the business and affairs of the Company as it shall determine to be desirable; provided,
however, nothing herein shall be construed to require the Administrator to, and the Administrator shall not, provide any advice or recommendation relating to the securities and other assets that the Company should purchase, retain or sell or
provide any other investment advisory services to the Company pursuant to this Agreement. The Administrator shall be responsible for the financial and other records that the Company is required to maintain, and under the Investment Company Act,
shall prepare, print and disseminate reports to stockholders, and reports and other materials filed with the Securities and Exchange Commission (the “SEC”). In addition, the Administrator shall assist the Company in
determining and publishing the Company’s net asset value, overseeing the preparation and filing of the Company’s tax returns, and generally overseeing the payment of the Company’s expenses and the performance of administrative and
professional services rendered to the Company by others. 
 (c) For the avoidance of any doubt, the parties agree that the Administrator is
authorized to enter into such sub-administration agreements as the Administrator may determine to be necessary or desirable in order to carry out the services set forth in paragraph 1(b) of this Agreement.

 2. Records 
 The Administrator
agrees to maintain and keep all books, accounts and other records of the Company that relate to activities performed by the Administrator hereunder and shall maintain and keep such books, accounts and records in accordance with the Investment
Company Act. In compliance with the requirements of Rule 31a-3 under the Investment Company Act, the Administrator agrees that all records which it maintains for the Company shall at all times remain the
property of the Company, shall be readily accessible during normal business hours, and shall be promptly surrendered upon the termination of this Agreement or otherwise on written request. The Administrator further agrees that all records which it
maintains for the Company pursuant to Rule 31a-1 under the Investment Company Act shall be preserved for the periods prescribed by Rule 31a-2 under the Investment
Company Act unless any such records are earlier surrendered as provided above. Records shall be surrendered in usable machine-readable form. The Administrator shall have the right to retain copies of such records subject to observance of its
confidentiality obligations under this Agreement. 
 3. Confidentiality 

The parties hereto agree that each shall treat confidentially all information provided by each party to the other regarding its business and
operations. All confidential information provided by a party hereto, including nonpublic personal information (regulated pursuant to Regulation S-P), shall be used by any other party hereto solely for the
purpose of rendering services pursuant to this Agreement and, except as may be required in carrying out this Agreement, shall not be disclosed to any third party, without the prior consent of such providing party. The foregoing shall not be
applicable to any information that is publicly available when provided or thereafter becomes publicly available other than through a breach of this Agreement, or that is required to be disclosed by any regulatory authority, any authority or legal
counsel of the parties hereto, by judicial or administrative process, or otherwise by applicable law or regulation. 

  
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 4. Compensation; Allocation of Costs and Expenses 

(a) In full consideration for the provision of the services provided by the Administrator under this Agreement, the parties acknowledge that
there shall be no separate fee paid in connection with the services provided, notwithstanding that the Company shall reimburse the Administrator, monthly, for all expenses of the Company incurred by the Administrator as well as the actual cost of
goods and services used for the Company and obtained by the Administrator from entities not Affiliated with the Company. The Administrator may also be reimbursed for the administrative services necessary for the prudent operation of the Company
performed by it on behalf of the Company; provided, however, the reimbursement shall be an amount equal to the Administrator’s actual cost; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets,
revenues, time records or other method conforming with generally accepted accounting principles. 
 (b) The Company shall bear all costs and
expenses that are incurred in its operation, administration and in the execution of its transactions and are not specifically assumed by KA Credit Advisors II, LLC (the “Adviser”) pursuant to that certain Investment Advisory
Agreement, dated as of [•], 2021 (the “Investment Advisory Agreement”), by and between the Company and the Adviser. Costs and expenses to be borne by the Company include, but are not limited to, those relating to: the
Company’s initial organization costs and operating costs incurred prior to the filing of its election to be treated as a BDC, provided however, the Company shall not bear more than $500,000 in organizational expenses incurred prior to its
election to be treated as a BDC; the costs associated with any offerings of the Company’s securities; calculating individual asset values and the Company’s net asset value (including the cost and expenses of any third-party valuation
services); out-of-pocket expenses, including travel expenses, incurred by the Adviser, or members of its investment team, or payable to third parties, performing due
diligence on prospective portfolio companies and, if necessary, enforcing the Company’s rights; the management fee payable under the Investment Advisory Agreement; certain costs and expenses relating to distributions paid by the Company;
administration fees payable under this Agreement and any sub-administration agreements, including related expenses; debt service and other costs of borrowings or other financing arrangements; and the allocated
costs incurred by the Adviser in providing managerial assistance to those portfolio companies that request it; amounts payable to third parties relating to, or associated with, making or holding investments; transfer agent and custodial fees; costs
of hedging; commissions and other compensation payable to brokers or dealers; federal and state registration fees; U.S. federal, state and local taxes; independent director fees and expenses; provided, however, that if the Company incurs more
than $200,000 in director fees and expenses annually, the Adviser shall reimburse the Company for the portion of such fees that exceed $200,000 (the “Board Expense Cap”); provided further that the Adviser and the Initial
Investors (as defined in the Company’s registration statement, as such may be amended from time to time) shall renegotiate in good faith a revised amount of the Board Expense Cap if either (i) the Company’s stockholders give notice
for purposes of proposing a stockholder director nominee and such nominee is elected as a new director of the Company, as provided in the Company’s bylaws, or (ii) the Company’s stockholders exercise their right to remove a director,
and such director is 

  
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removed as a director of the Company, as provided in the Company’s bylaws; costs of preparing financial statements and maintaining books and records; costs of preparing tax returns; costs of
compliance with the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes-Oxley”); attestation costs and costs of filing reports or other documents with the SEC (or other regulatory bodies) and other reporting and compliance
costs, including registration and listing fees, and the compensation of professionals responsible for the preparation or review of the foregoing; the costs of any reports, proxy statements or other notices to the Company’s stockholders
(including printing and mailing costs), the costs of any stockholders’ meetings and the compensation of investor relations personnel responsible for the preparation of the foregoing and related matters; the costs of specialty and custom
software expense for monitoring risk, compliance and overall investments; the Company’s fidelity bond; all costs associated with setting up special purpose vehicles; directors and officers/errors and omissions liability insurance, and any other
insurance premiums; indemnification payments; direct fees and expenses associated with independent audits, agency, consulting and legal costs; and all other expenses incurred by either the Administrator or the Company in connection with
administering the Company’s business, including payments under this Agreement for administrative services that shall be based upon the Company’s allocable portion of expenses incurred by the Administrator in performing its administrative
obligations under this Agreement, including, but not limited to third-party fees and expenses associated with performing compliance functions, and any external audit staff, to the extent external audit performs a role in the Company’s internal
control assessments. The presence of an item in or its absence from the foregoing list, on the one hand, and the list of Company expenses set forth in Section 2(b) of Investment Advisory Agreement, on the other, shall in no way be construed to
limit the responsibility of the Company for such expense under either Agreement. 
 For avoidance of doubt, it is agreed and understood that, from time to
time, the Administrator or its affiliates may pay amounts or bear costs properly constituting Company expenses as set forth herein or otherwise and that the Company shall reimburse the Administrator or its affiliates for all such costs and expenses
that have been paid by the Administrator or its affiliates on behalf of the Company. 
 5. Limitation of Liability of the Administrator;
Indemnification 
 (a) The Administrator (and its officers, managers, partners, agents, employees, controlling persons, members, and
any other person or entity affiliated with the Administrator or the Adviser to the extent that it is providing services for or otherwise acting on behalf of the Administrator, Adviser or the Company) shall not be liable to the Company for any action
taken or omitted to be taken by the Administrator or such other person in connection with the performance of any of the Administrator’s duties or obligations under this Agreement or otherwise as administrator for the Company, and the Company
shall indemnify, defend and protect the Administrator (and its officers, managers, partners, agents, employees, controlling persons, members, and any other person or entity affiliated with the Administrator or the Adviser, each of whom shall be
deemed a third party beneficiary hereof) (each, individually, an “Indemnified Party” and collectively, the “Indemnified Parties”) and hold each of them harmless from and against all expenses
(including reasonable attorneys’ fees), judgments, fines and amounts paid in settlement (“Losses”) actually and reasonably incurred by any of them in or by reason of any pending, threatened or completed action, suit,
investigation or other proceeding 

  
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(including an action or suit by or in the right of the Company or its security holders) arising out of or otherwise based upon the performance in good faith of any of the Administrator’s
duties or obligations under this Agreement or otherwise as administrator for the Company to the extent such Losses are not fully reimbursed by insurance and otherwise to the fullest extent such indemnification would not be inconsistent with the
Company’s organizational documents, the 1940 Act, the laws of the State of Delaware and other applicable law. 
 (b) For any claims
indemnified by the Company under Section 5(a) above, to the fullest extent permitted by and subject to the applicable conditions of law, the Company shall promptly pay expenses (including legal fees and expenses) incurred by any Indemnified
Party in appearing at, participating in or defending any action, suit, claim, demand or proceeding in advance of the final disposition of such action, suit, claim, demand or proceeding, including appeals, within 30 days after receipt by the Company
of a statement or statements from the Indemnified Party requesting such advance or advances from time to time. Each Indemnified Party hereby undertakes to repay any amounts advanced on its behalf (without interest) to the extent that it is
ultimately determined that the Indemnified Party is not entitled under this Agreement to be indemnified by the Company. Such undertaking shall be unsecured and without regard to the Indemnified Parties’ ultimate entitlement to
indemnification under the other provisions of this Agreement. No other form of undertaking shall be required of the Indemnified Parties other than the execution of this Agreement.

(c) Notwithstanding the above provisions of Section 5 of this Agreement, nothing contained herein shall protect or be deemed to protect
the Indemnified Parties against or entitle or be deemed to entitle the Indemnified Parties to indemnification in respect of, any liability to the Company or its security holders to which the Indemnified Parties would otherwise be subject by reason
of willful misfeasance, bad faith or negligence in the performance of the Administrator’s duties or by reason of the reckless disregard of the Administrator’s duties and obligations under this Agreement (to the extent applicable, as the
same shall be determined in accordance with the Investment Company Act and any interpretations or guidance by the SEC or its staff thereunder). In addition, notwithstanding any of the foregoing to the contrary, the foregoing provisions shall not be
construed so as to provide for the indemnification of any Indemnified Party for any liability (including liability under federal securities laws which, under certain circumstances, impose liability even on persons that act in good faith), to the
extent (but only to the extent) that such indemnification would be in violation of applicable law, but shall be construed so as to effectuate the foregoing provisions to the fullest extent permitted by law. 

6. Activities of the Administrator 

The services of the Administrator to the Company are not to be deemed to be exclusive, and the Administrator and each affiliate is free to
render services to others. It is understood that directors, officers, employees and stockholders of the Company are or may become interested in the Administrator and its affiliates, as directors, officers, members, managers, employees, partners,
stockholders or otherwise, and that the Administrator and directors, officers, members, managers, employees, partners and stockholders of the Administrator and its affiliates are or may become similarly interested in the Company as stockholders or
otherwise. 

  
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 7. Duration and Termination of this Agreement 

(a) This Agreement shall become effective as of the first date above written. The provisions of Section 5 of this Agreement shall remain
in full force and effect, and the Administrator shall remain entitled to the benefits thereof, notwithstanding any termination of this Agreement. Further, notwithstanding the termination or expiration of this Agreement as aforesaid, the
Administrator shall be entitled to any amounts owed under Section 4 through the date of termination or expiration, and Section 3 and Section 9 shall continue in force and effect following such termination. This Agreement shall
continue in effect for two years from the date hereof, and thereafter shall continue automatically for successive annual periods, provided, that, such continuance is specifically approved at least annually by: 

(i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company; and 

(ii) the vote of a majority of the members of the Company’s Board who are not parties to this Agreement or “interested persons”
(as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party, in accordance with the requirements of the Investment Company Act. 

(b) The Agreement may be terminated at any time, without the payment of any penalty, upon 60 days’ written notice, by the vote of a
majority of the outstanding voting securities of the Company, or by the vote of the Board or by the Administrator. 
 (c) This Agreement may
not be assigned by a party without the consent of the other party; provided, however, that the rights and obligations of the Company under this Agreement shall not be deemed to be assigned to a newly formed entity in the event of the
merger of the Company into, or conveyance of all of the assets of the Company to, such newly formed entity; provided further, however, that the sole purpose of that merger or conveyance is to effect a mere change in the
Company’s legal form into another limited liability entity. 
 8. Amendments of this Agreement  

This Agreement may be amended pursuant to a written instrument by mutual consent of the parties. 

9. Governing Law 
 This Agreement
shall be construed in accordance with laws of the State of Delaware. For so long as the Company is regulated as a business development company under the Investment Company Act, this Agreement shall also be construed in accordance with the applicable
provisions of the Investment Company Act. In such case, to the extent the applicable laws of the State of Delaware or any of the provisions herein conflict with the provisions of the Investment Company Act, the latter shall control. 

10. Entire Agreement 
 This
Agreement contains the entire agreement of the parties and supersedes all prior agreements, understandings and arrangements with respect to the subject matter hereof. 

  
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 11. Notices 

Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its
principal office. 
 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the
date first above written. 
  

			
	KAYNE DL 2021, INC
		
	By:	 	  

		 	Name: Terry A. Hart
		 	Title: Chief Financial Officer
	
	KA CREDIT ADVISORS II, LLC
		
	By:	 	  

		 	Name: Jarvis V. Hollingsworth
		 	Title: Authorized Signatory

 [Signature Page to Administration Agreement]EX-10.3

 Exhibit 10.3 

TRADEMARK LICENSE AGREEMENT 

This TRADEMARK LICENSE AGREEMENT (“Agreement”) is effective as of the [•] day of [•], 2021 (“Effective
Date”) between Kayne Anderson Capital Advisors, L.P. (“Licensor”), and Kayne DL 2021, Inc., a Delaware corporation (“Licensee”). 

WHEREAS, Licensor is the owner of all rights to the trademark “Kayne Anderson” and the “Kayne Anderson” design
(collectively, the “Brand”); 
 WHEREAS, Licensee is a non-diversified, closed-end management investment company that intends to elect to be treated as a business development company under the Investment Company Act of 1940, as amended (together with the rules promulgated thereunder)
(the “Licensee Business”); 
 WHEREAS, in connection with Licensee’s public filings, requests for information from
state and federal regulators, offering materials and advertising materials, and press releases, Licensee desires to state in such materials that investment advisory services are being provided by Licensor to Licensee (collectively,
“Permitted Activity”); and 
 WHEREAS, Licensor is willing to permit Licensee to use the Brand for Permitted Activity,
subject to the terms and conditions herein. 
 NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants
contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Grant of Rights; Sublicensing. 

Section 1.1. License Grant. Subject to the terms and conditions herein, Licensor hereby grants to Licensee a non-exclusive, non-transferable, and non-sublicensable license to Licensee for the use of the Brand solely for Permitted Activity. 

Section 1.2. Sublicensing. Licensee may sublicense its rights under Section 1.1 solely to a current or future wholly owned
subsidiary of Licensee, and then only with the prior written consent of Licensor (which shall not be unreasonably withheld), provided that any such sublicense shall terminate automatically, with no need for written notice to the sublicensee, if
(a) such entity ceases to be a wholly owned subsidiary of Licensee, (b) this Agreement terminates for any reason or (c) such sublicensee materially breaches its sublicense in a manner that harms the Brand and does not cure same within
15 days after notice from Licensor or Licensee. Licensee shall notify Licensor promptly after becoming aware that any sublicensee has breached its sublicense and shall ensure that all sublicenses provide (i) for the foregoing termination rights
of Licensor and (ii) obligations for Licensee with respect to the Brand that are consistent with those of Licensee herein. Any act or omission by a sublicensee that would breach this Agreement if committed by Licensee shall constitute a breach
of this Agreement by Licensee. 

 2. Ownership. Licensee acknowledges and agrees that, as
between the parties, Licensor is the sole owner of all right, title and interest in and to the Brand. Licensee agrees not to do anything inconsistent with such ownership, including (i) filing to register any trademark or service mark containing
the Brand or (ii) directly or indirectly challenging, contesting or otherwise disputing the validity, enforceability or Licensor’s ownership of the Brand (and the associated goodwill), including without limitation, in any claim,
allegation, action, demand, proceeding or suit (“Action”) regarding enforcement of this Agreement or involving any third party. The parties intend that any and all goodwill in the Brand arising from Licensee’s or any applicable
sublicensees’ Permitted Activity shall inure solely to the benefit of Licensor. Notwithstanding the foregoing, in the event that Licensee or any sublicensee is deemed to own any rights in the Brand, Licensee hereby irrevocably assigns (or shall
cause such sublicensees to assign), without further consideration, such rights to Licensor together with all goodwill associated therewith. 

3. Use of the Permitted Activity. 

Section 3.1. Quality Control. Licensee’s Permitted Activity shall be in a manner consistent with Licensor’s high
standards of and reputation for quality, and in accordance with good trademark practice wherever any of the same are used. Licensee shall not take any action that could reasonably be expected to harm the Brand or the goodwill associated therewith.
Licensee shall use with the Brand any applicable trademark notices as may be requested by Licensor or required under applicable laws, regulations, stock exchange and other rules (“Laws”) and reputable industry practice. 

Section 3.2. Prior Written Approval. Prior to using the Brand in any manner, Licensee shall submit all proposed uses to Licensor
for prior written approval. 
 Section 3.3. Compliance with Laws. Licensee shall, at its sole expense, comply at all times with
all applicable Laws and reputable industry practice pertaining to the Licensee Business and Permitted Activity. 
 4.
Termination. 
 Section 4.1. Term. The term of this Agreement commences on the Effective Date and continues in
perpetuity, unless termination occurs pursuant to Sections 4.2 through 4.4. 
 Section 4.2. Termination for Convenience.
Licensor reserves the right to terminate this Agreement immediately upon written notice for any reason, including if the usage of the Brand is not in compliance with the standards and policies. 

Section 4.3. Termination for Breach. If either party materially breaches one or more of its obligations hereunder, the other party
may terminate this Agreement, effective upon written notice, if the breaching party does not cure such breach within 15 days after written notice thereof (or any mutually agreed extension). Licensor may terminate this Agreement immediately,
effective upon written notice, if (i) Licensee attempts to violate Section 8 or (ii) a sublicensee materially breaches its sublicense in a manner that harms the Brand, and (a) such sublicensee does not cure same within 15 days
after notice from Licensor or Licensee or (b) Licensee does not terminate such sublicense within 15 days after notice from Licensor. 

  
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 Section 4.4. Termination of Advisory Agreement. This Agreement shall terminate
automatically without notice and immediately (a) if KA Credit Advisors II, LLC or another affiliate of Licensor is no longer acting as the investment adviser (any such entity, the “Advisor”) to Licensee under the Investment
Advisory Agreement (as the same may be amended, modified or otherwise restated, the “Investment Advisory Agreement”), or a similar agreement, or (b) the Advisor is no longer an affiliate of Licensor. Further, Licensor may
terminate this Agreement, effective upon written notice, at any time after 30 days from the date that Licensee notifies Licensor that the Investment Advisory Agreement has terminated or is not being renewed. The term “affiliate” as used
herein shall have the meaning given to such term in the Investment Advisory Agreement. 
 Section 4.5. Effect of Termination;
Survival. Upon termination of this Agreement for any reason, (a) Licensee shall immediately, except as required by applicable Law, (i) cease all use of the Permitted Activity; and (b) the parties shall cooperate so as to best
preserve the value of the Brand. Section 2, this Section 4.5, and Sections 6.2, 6.3, 7 and 9 shall survive termination of this Agreement. 

5. Infringement. Licensee shall notify Licensor promptly after it becomes aware of any actual or threatened
infringement, imitation, dilution, misappropriation or other unauthorized use or conduct in derogation (“Infringement”) of the Brand. Licensor shall have the sole right to bring any Action to remedy the foregoing, and Licensee shall
cooperate with Licensor in same, at Licensor’s expense. 
 6. Representations and Warranties; Limitations. 

Section 6.1. Each party represents and warrants to the other party that: 

(a) This Agreement is a legal, valid and binding obligation of the warranting party, enforceable against such party in accordance with its
terms, subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to the effect of general principles of
equity (regardless of whether enforcement is considered in a proceeding at law or in equity); 
 (b) The warranting party is not subject to
any judgment, order, injunction, decree or award that would interfere with its performance of any of its obligations hereunder; and 
 (c)
The warranting party has full power and authority to enter into and perform its obligations under this Agreement in accordance with its terms. 

Section 6.2. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 6.1, LICENSOR MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH
RESPECT TO THIS AGREEMENT AND THE BRAND, AND EXPRESSLY DISCLAIMS ALL SUCH REPRESENTATIONS AND WARRANTIES, INCLUDING ANY WITH RESPECT TO TITLE, NON-INFRINGEMENT, MERCHANTABILITY, VALUE, RELIABILITY OR FITNESS
FOR USE. LICENSEE’S USE OF THE PERMITTED ACTIVITY IS SOLELY ON AN “AS-IS” BASIS. 

  
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 Section 6.3. EXCEPT WITH RESPECT TO LICENSEE’S INDEMNIFICATION OBLIGATIONS UNDER
SECTION 7, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR SPECIAL, INDIRECT, CONSEQUENTIAL, EXEMPLARY, PUNITIVE OR INCIDENTAL DAMAGES (INCLUDING LOST PROFITS OR GOODWILL, BUSINESS INTERRUPTION AND THE LIKE) RELATING TO THIS AGREEMENT, EVEN IF
IT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 
 7. Indemnification. 

Section 7.1. Indemnity by Licensee. Licensee will defend at its expense, indemnify and hold harmless Licensor and its affiliates
and its and their respective directors, officers, employees, shareholders, investors, agents and representatives from any losses, liabilities, obligations, damages, awards, settlements, judgments, fees, costs or expenses (including reasonable
attorneys’ fees and costs of suit) arising out of or relating to any third-party Action against any of them that arises out of or relates to (i) any breach by Licensee of this Agreement or its warranties, representations, covenants and
undertakings hereunder, (ii) Licensee’s operation of the Licensee Business or (iii) any claim that Licensee’s use of the Brand, other than as explicitly authorized by this Agreement, Infringes the rights of a third party. 

Section 7.2. Indemnification Procedure. Licensor will promptly notify Licensee in writing of any indemnified claim and promptly as
practicable tender its defense to Licensee. Any delay in such notice or tender will not relieve Licensee from its obligations to the extent it is not prejudiced thereby. Licensor will cooperate with Licensee at Licensee’s expense in the defense
of any indemnified claim. Licensee may not settle any indemnified claim without Licensor’s prior written consent in Licensor’s sole discretion. Licensor may participate in its defense of an indemnified claim with counsel of its own choice
at its own expense. 
 8. Assignments. Licensee may not assign, transfer, pledge, mortgage or otherwise
encumber this Agreement or its right to use the Brand (or assume this Agreement in bankruptcy), in whole or in part, without the prior written consent of Licensor in its sole discretion, except for an assignment outside of bankruptcy to a successor
organization that is solely the result of a name change by Licensee. For the avoidance of doubt, a merger, change of control, reorganization or sale of all or substantially all of the stock of Licensee shall be deemed an “assignment”
requiring the above consent, regardless of whether Licensee is the surviving entity or whether such transaction constitutes an assignment under applicable law. Licensee acknowledges that its identity is a material condition that induced Licensor to
enter into this Agreement. Any attempted action in violation of the foregoing shall be null and void ab initio and of no force or effect, and shall result in immediate termination of this Agreement. In the event of a permitted assignment
hereunder, this Agreement shall be binding upon and inure to the benefit of the parties and their respective permitted assigns. 
 9.
Miscellaneous. 
 Section 9.1. Notice. Any notices herein shall be deemed to have been duly given if
(i) delivered or delivered by facsimile, when received, (ii) sent by U.S. Express Mail or recognized overnight courier, on the following business day or (iii) delivered by electronic mail, when received: 

  
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	 LICENSOR:
  

Kayne Anderson Capital Advisors, L.P. 
 811 Main Street

14th Floor
 Houston, TX 77002

Attention: Jarvis V. Hollingsworth
	  	 LICENSEE:
  

Kayne DL 2021, Inc.
 811 Main Street

14th Floor
 Houston, TX 77002

Attention: Jarvis V. Hollingsworth

 Section 9.2. Integration. This Agreement contains the entire agreement among the parties with
respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings (including, without limitation, any prior agreements between Licensee and Licensor), with respect thereto. 

Section 9.3. Amendments. Neither this Agreement, nor any terms hereof, may be amended except in an instrument in writing executed
by the parties. 
 Section 9.4. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK. EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN NEW YORK CITY FOR THE PURPOSE OF ANY ACTION RELATING TO OR ARISING OUT OF
THIS AGREEMENT. 
 Section 9.5. Waiver of Jury Trial. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION RELATING TO OR ARISING OUT OF THIS AGREEMENT. LICENSEE AGREES THAT LICENSOR WOULD BE IRREPARABLY HARMED BY ANY BREACH OF THIS AGREEMENT BY
LICENSEE THAT HARMS THE BRAND, AND THAT LICENSOR MAY (IN ADDITION TO ITS OTHER RIGHTS AND REMEDIES HEREIN) SEEK TEMPORARY, PRELIMINARY OR PERMANENT INJUNCTIVE RELIEF (INCLUDING SPECIFIC PERFORMANCE) TO ENJOIN OR PREVENT ANY SUCH BREACH, WITHOUT
POSTING BOND OR OTHER SECURITY. 
 Section 9.6. No Waiver; Cumulative Remedies. No failure or delay by a party to exercise any
right hereunder, in whole or in part, shall operate as a waiver thereof. The parties’ rights and remedies herein are cumulative and not exclusive of any other rights and remedies provided by applicable Law. 

Section 9.7. Costs and Expenses. Each party shall bear its own costs and expenses (including the fees and disbursements of
counsel) incurred in connection with the negotiations and preparation of this Agreement. 
 Section 9.8. Section Headings. The
section headings in this Agreement are for convenience only and shall not affect its interpretation. This Agreement shall be construed as if it were drafted jointly by the parties. 

  
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 Section 9.9. Counterparts. This Agreement may be executed in counterparts. PDF
or facsimile signatures shall serve as originals to bind the parties to the Agreement. 
 Section 9.10. Severability. Any
provision of this Agreement that is held to be invalid or unenforceable shall not invalidate or render unenforceable any other provision hereof. 

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 IN WITNESS WHEREOF, each of the parties has executed this Agreement as of the date first
written above. 
  

					
	KAYNE DL 2021, Inc.
	a Delaware limited liability company
		
	By:	 	  

		 	Name:	 	James C. Baker
		 	Title:	 	President
	
	KAYNE ANDERSON CAPITAL ADVISORS, L.P.
		
	By:	 	  

		 	Name:	 	Jarvis V. Hollingsworth
		 	Title:	 	Authorized Signatory

 [Signature Page to License Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]