Document:

Exhibit 10.2

   

  ADMINISTRATION
        AGREEMENT 

   

  BETWEEN
      

   

  OHA
        SENIOR PRIVATE LENDING FUND (U) LLC

   

  AND
      

   

  OHA
        PRIVATE CREDIT ADVISORS II, L.P.

   

  This
      Agreement (“Agreement”) is made as of November 16, 2022 by and between OHA Senior Private Lending Fund (U)
      LLC, a Delaware limited liability company (the “Fund”), and OHA Private Credit Advisors II, L.P., a Delaware
      limited partnership (the “Administrator”).

   

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

   

  WHEREAS,
      the Fund desires to retain the Administrator to provide administrative services to the Fund in the manner and on the terms hereinafter
      set forth; and

   

  WHEREAS,
      the Administrator is willing to provide administrative services to the Fund 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 Fund and the Administrator hereby agree as follows:

   

  1.
        Duties of the Administrator. 

   

  (a)
      Employment of Administrator. The Fund hereby retains the Administrator to act as administrator of the Fund, 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 Managers of the Fund (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 shall, for all purposes herein, be deemed to be an independent contractor
      and shall, unless otherwise expressly provided or authorized herein, have no authority to act for or represent the Fund in any
      way or otherwise be deemed an agent of the Fund pursuant to this agreement.

   

  (b)
      Services. The Administrator shall perform (or oversee, or arrange for, the performance of) the administrative and compliance
      services necessary for the operation of the Fund, including, but not limited to, maintaining financial records, filing of the
      Fund’s tax returns, overseeing the calculation of the Fund’s net asset value, compliance monitoring (including diligence
      and oversight of the Fund’s other service providers), preparing reports to the Fund’s shareholders and reports filed
      with the Securities and Exchange Commission (the “SEC”) and other regulators, preparing materials and coordinating
      meetings of the Board, managing the payment of expenses, the payment and receipt of funds for investments and the performance
      of administrative and professional services rendered by others, providing office space, equipment and office services, 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 Fund, conduct relations with sub-administrators,
      custodians, depositories, depositaries, transfer agents, dividend disbursing agents, other shareholder servicing agents, accountants,
      attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other
      capacity deemed to be necessary or desirable in fulfilling its administrative duties. The Administrator shall make reports to
      the Board of its performance of its obligations hereunder and furnish advice and recommendations with respect to such other aspects
      of the business and affairs of the Fund as it shall determine to be desirable; provided that nothing herein shall be construed
      to require the Administrator to, and the Administrator shall not, in its capacity as Administrator pursuant to this Agreement,
      provide any advice or recommendation relating to the securities and other assets that the Fund should purchase, retain or sell
      or any other investment advisory services to the Fund. OHA Private Credit Advisors II, L.P., in its capacity as both the Fund’s
      investment adviser (the “Adviser”) and the Administrator, may provide on the Fund’s behalf significant
      managerial assistance to those portfolio companies that request such assistance. For the avoidance of any doubt, the parties agree
      that the Administrator is authorized to enter into and anticipates entering into sub-administration agreements as the Administrator
      determines necessary in order to carry out the services set forth in this paragraph, subject to the prior approval of the Board.

  
     

    
      

    

  

  2.
        Records. The Administrator agrees to maintain and keep all books, accounts and other records of the Fund that relate
      to activities performed by the Administrator hereunder and will maintain and keep such books, accounts and records in accordance
      with the Investment Company Act. The Administrator may delegate the foregoing responsibility to a third party with the consent
      of the Board, subject to the oversight of the Administrator and the Fund. In compliance with the requirements of Rule 31a-3
      under the Investment Company Act, the Administrator agrees that all records which it or its delegate maintains for the Fund shall
      at all times remain the property of the Fund, shall be readily accessible during normal business hours, and shall be promptly
      surrendered upon the termination of the Agreement or otherwise on written request. The Administrator further agrees that all records
      which it or its delegate maintains for the Fund pursuant to Rule 31a-1 under the Investment Company Act will 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 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.

   

  4.
        Compensation; Allocation of Costs and Expenses. In full consideration of the provision of the services of the Administrator,
      the Fund shall reimburse the Administrator for the reasonable costs and expenses incurred by the Administrator in performing its
      obligations, including the Fund’s allocable portion of the reasonable costs and expenses of providing personnel and facilities
      hereunder, except as otherwise provided herein and in that certain Investment Advisory Agreement, by and between the Fund and
      the Adviser, as amended from time to time (the “Advisory Agreement”).

  
     

    
      

    

  

  Except
      as specifically provided below, all investment professionals and staff of the Adviser, when and to the extent engaged in providing
      investment advisory services to the Fund, and the base compensation, bonus and benefits, rent, utilities, insurance, payroll taxes,
      bonuses, employee benefits, furnishings, telecommunications and certain information services and certain office expenses, including
      office supplies and equipment and other similar expenses and the other routine overhead expenses, of such personnel allocable
      to such services, (individually and collectively, “Overhead”) will be provided and paid for by the Adviser.
      The Fund will bear all other reasonable costs and expenses of its operations, administration and transactions, including, but
      not limited to:

   

  (a)
      investment advisory fees, including management fees and incentive fees, to the Adviser, pursuant to the Advisory Agreement;

   

  (b)
      the Fund’s allocable portion of Overhead and other expenses incurred by the Administrator in performing its administrative
      obligations under the Administration Agreement, including but not limited to: (i) the Fund’s chief compliance officer, chief
      financial officer, chief operating officer and their respective staffs; (ii) investor relations, legal, operations, treasury and
      any other non-investment professionals at the Administrator that perform duties for the Fund; and (iii) any personnel of OHA or
      any of its Affiliates (as defined below) providing non-investment related services to the Fund; and

   

  (c)
      all other expenses of the Fund’s operations, administrations and transactions including, without limitation, those relating
      to:

   

  (i)
      organization and offering fees, costs and expenses associated with this offering (including legal, accounting (including expenses
      of in-house legal, accounting, tax and other professionals of the Adviser, inclusive of their allocated Overhead), printing, mailing,
      subscription processing and filing fees costs and expenses (including “blue sky” laws and regulations) and other offering
      fees costs and expenses, including fees, costs and expenses associated with technology integration between the Fund’s systems
      and those of participating intermediaries, diligence expenses of participating intermediaries, fees, costs and expenses in connection
      with preparing the preparation of the Fund’s governing documents, offering memoranda, sales materials and other marketing
      expenses, design and website fees, costs and expenses, fees, costs and expenses of the Fund’s transfer agent, fees, costs
      and expenses to attend retail seminars sponsored by participating intermediaries and fees, costs, expenses and reimbursements
      for travel, meals, accommodations, entertainment and other similar expenses related to meetings or events with prospective investors,
      intermediaries, registered investment advisors or financial or other advisors;

   

  (ii)
      all taxes, fees, costs, and expenses, retainers and/or other payments of accountants, legal counsel, advisors (including tax advisors),
      administrators, auditors (including, for the avoidance of doubt, the Fund’s financial audit, and with respect to any additional
      auditing required under The Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment
      Fund Managers and any applicable legislation implemented by an EEA member state in connection with such Directive (the “AIFMD”)),
      investment bankers, administrative agents, paying agents, depositaries, custodians, trustees, sub-custodians, consultants (including
      individuals consulted through expert network consulting firms), engineers, senior advisors, industry experts, operating partners,
      deal sourcers (including personnel dedicated to but not employed by the Adviser), and other professionals (including, for the
      avoidance of doubt, the costs and charges allocable with respect to the provision of internal legal, tax, accounting, technology,
      portfolio reconciliation, portfolio compliance and reporting or other services or that are otherwise related to the implementation,
      maintenance and supervision of the procedures relating to the books and records of the Fund and any personnel related thereto,
      inclusive of their allocated Overhead (including secondees and temporary personnel or consultants that may be engaged on short-
      or long-term arrangements) as deemed appropriate by the Administrator, with the oversight of the Board, where such internal personnel
      perform services that would be paid by the Fund if outside service providers provided the same services); fees, costs, and expenses
      herein include (x) fees, costs and expenses for time spent by its in-house attorneys and tax advisors that provide legal advice
      and/or services to the Fund or its portfolio companies on matters related to potential or actual investments and transactions
      and the ongoing operations of the Fund and (y) fees, costs and expenses incurred to provide administrative and accounting services
      to the Fund or its portfolio companies, and fees, costs, expenses and charges incurred directly by the Fund or its Affiliates
      in connection such services (including Overhead related thereto), in each case, (I) that are specifically charged or specifically
      allocated or attributed by the Administrator, with the oversight of the Board, to the Fund or its portfolio companies and (II)
      provided that any such amounts shall not be greater than what would be paid to an unaffiliated third party for substantially similar
      advice and/or services of the same skill and expertise, in accordance with the Adviser’s expense allocation policy);

  
     

    
      

    

  

  (iii)
      all fees, costs, expenses of calculating the Fund’s NAV, including the cost of any third-party valuation services;

   

  (iv)
      all fees, costs, expenses of effecting any sales of the shares of the Fund and other securities;

   

  (v)
      any fees, costs, expenses payable under any managing dealer and selected intermediary agreements, if any;

   

  (vi)
      all interest and fees, costs and expenses arising out of all borrowings, guarantees and other financings or derivative transactions
      (including interest, fees and related legal expenses) made or entered into by the Fund, including, but not limited to, the arranging
      thereof and related legal expenses;

   

  (vii)
      all fees, costs and expenses of any loan servicers and other service providers and of any custodians, lenders, investment banks
      and other financing sources;

   

  (viii)
      all fees, costs and expenses incurred in connection with the formation or maintenance of entities or vehicles to hold the Fund’s
      assets for tax or other purposes;

   

  (ix)
      all fees, costs and expenses of derivatives and hedging;

   

  (x)
      all fees, costs and expenses, including travel, entertainment, lodging and meal expenses, incurred by the Adviser, or members
      of its investment team, or payable to third parties, in evaluating, developing, negotiating, structuring and performing due diligence
      on prospective portfolio companies, including such expenses related to potential investments that were not consummated, and, if
      necessary, enforcing the Fund’s rights;

   

  (xi)
      all fees, costs and expenses (including the allocable portions of Overhead and out-of-pocket expenses such as travel expenses)
      or an appropriate portion thereof of employees of the Adviser to the extent such expenses relate to attendance at meetings of
      the Board or any committees thereof;

   

  (xii)
      all fees, costs and expenses, if any, incurred by or on behalf of the Fund in developing, negotiating and structuring prospective
      or potential investments that are not ultimately made, including, without limitation any legal, tax, administrative, accounting,
      travel, meals, accommodations and entertainment, advisory, consulting and printing expenses, reverse termination fees and any
      liquidated damages, commitment fees that become payable in connection with any proposed investment that is not ultimately made,
      forfeited deposits or similar payments;

   

  (xiii)
      all allocated fees, costs and expenses incurred by the Administrator in providing managerial assistance to those portfolio companies
      that request it;

  
     

    
      

    

  

  (xiv)
      all brokerage fees, costs and expenses, hedging fees, costs and expenses, prime brokerage fees, costs and expenses, custodial
      fees, costs and expenses, agent bank and other bank service fees, costs and expenses; private placement fees, costs and expenses,
      commissions, appraisal fees, commitment fees and underwriting fees, costs and expenses; fees, costs and expenses of any lenders,
      investment banks and other financing sources, and other investment costs, fees and expenses actually incurred in connection with
      evaluating, making, holding, settling, clearing, monitoring or disposing of actual investments (including, without limitation,
      travel, meals, accommodations and entertainment expenses and any expenses related to attending trade association and/or industry
      meetings, conferences or similar meetings, any costs or expenses relating to currency conversion in the case of investments denominated
      in a currency other than U.S. dollars) and expenses arising out of trade settlements (including any delayed compensation expenses);

   

  (xv)
      investment fees, costs and expenses, including all fees, costs and expenses incurred in sourcing, evaluating, developing, negotiating,
      structuring, trading (including trading errors), settling, monitoring and holding prospective or actual investments or investment
      strategies including, without limitation, any financing, legal, filing, auditing, tax, accounting, compliance, loan administration,
      travel, meals, accommodations and entertainment, advisory, consulting, engineering, data-related and other professional fees,
      costs and expenses in connection therewith (to the extent the Adviser is not reimbursed by a prospective or actual issuer of the
      applicable investment or other third parties or capitalized as part of the acquisition price of the transaction) and any fees,
      costs and expenses related to the organization or maintenance of any vehicle through which the Fund directly or indirectly participates
      in the acquisition, holding and/or disposition of investments or which otherwise facilitate the Fund’s investment activities,
      including without limitation any travel and accommodations expenses related to such vehicle and the salary and benefits of any
      personnel (including personnel of the Adviser or its Affiliates) and/or in connection with the maintenance and operation of such
      vehicle, or other overhead expenses (including any fees, costs and expenses associated with the leasing of office space (which
      may be made with one or more Affiliates of the Adviser as lessor in connection therewith));

   

  (xvi)
      all transfer agent, dividend agent and custodial fees, costs and expenses;

   

  (xvii)
      all federal and state registration fees, franchise fees, any stock exchange listing fees and fees payable to rating agencies;

   

  (xviii)
      independent Board members’ fees and expenses including travel, entertainment, lodging and meal expenses, and any legal counsel
      or other advisors retained by, or at the discretion or for the benefit of, the independent Board members;

   

  (xix)
      costs of preparing financial statements and maintaining books and records, costs of Sarbanes-Oxley Act of 2002 compliance and
      attestation and costs of preparing and filing reports or other documents with the SEC, Financial Industry Regulatory Authority,
      U.S. Commodity Futures Trading Commission (“CFTC”) and other regulatory bodies and other reporting and compliance
      costs, including registration and exchange listing and the costs associated with reporting and compliance obligations under the
      Investment Company Act and any other applicable federal and state securities laws, and the compensation of professionals responsible
      for the foregoing;

   

  (xx)
      all fees, costs and expenses associated with the preparation and issuance of the Fund’s periodic reports and related statements
      (e.g., financial statements and tax returns) and other internal and third-party printing (including a flat service fee), publishing
      (including time spent performing such printing and publishing services) and reporting-related expenses (including other notices
      and communications) in respect of the Fund and its activities (including internal expenses, charges and/or related costs incurred,
      charged or specifically attributed or allocated by the Fund or the Adviser or its Affiliates in connection with such provision
      of services thereby);

  
     

    
      

    

  

  (xxi)
      all fees, costs and expenses of any reports, proxy statements or other notices to members (including printing and mailing costs)
      and the costs of Board member meetings;

   

  (xxii)
      all proxy voting fees, costs and expenses;

   

  (xxiii)
      all fees, costs and expenses associated with an exchange listing (to the extent applicable);

   

  (xxiv)
      any and all taxes and/or tax-related interest, fees or other governmental charges (including any penalties incurred where the
      Adviser lacks sufficient information from third parties to file a timely and complete tax return) levied against the Fund and
      all fees, costs and expenses incurred in connection with any tax audit, investigation, litigation, settlement or review of the
      Fund and the amount of any judgments, fines, remediation or settlements paid in connection therewith;

   

  (xxv)
      all fees, costs and expenses of any litigation, arbitration or audit involving the Fund any vehicle or its portfolio companies
      and the amount of any judgments, assessments fines, remediations or settlements paid in connection therewith, Board members and
      officers, liability or other insurance (including costs of title insurance) and indemnification (including advancement of any
      fees, costs or expenses to persons entitled to indemnification) or extraordinary expense or liability relating to the affairs
      of the Fund;

   

  (xxvi)
      all fees, costs and expenses associated with the Fund’s information, obtaining and maintaining technology (including any
      and all fees, costs and expenses of any investment, books and records, portfolio compliance and reporting systems such as “Wall
      Street Office,” “Everest” (Allvue), “Trinity” and similar systems and services, including consultant,
      software licensing, data management and recovery services fees and any tools, programs, subscriptions or other systems providing
      market data, analytical, database, news or third-party research or information services and the costs of any related professional
      service providers), third party or proprietary hardware/software, data-related communication, market data and research (including
      news and quotation equipment and services and including costs allocated by the Adviser’s or its Affiliates’ internal
      and third-party research group (which are generally based on time spent, assets under management, usage rates, proportionate holdings
      or a combination thereof or other reasonable methods determined by the Administrator) and expenses and fees (including compensation
      costs) charged or specifically attributed or allocated by Adviser and/or its Affiliates for data-related services provided to
      the Fund and/or its portfolio companies (including in connection with prospective investments), each including expenses, charges,
      fees and/or related costs of an internal nature; reporting costs (which includes notices and other communications and internally
      allocated charges), and dues and expenses incurred in connection with membership in industry or trade organizations;

   

  (xxvii)
      all fees, costs and expenses of specialty and custom software for monitoring risk, compliance and the overall portfolio, including
      any development costs incurred prior to the filing of the Fund’s election to be treated as a BDC;

   

  (xxviii)
      all fees, costs and expenses associated with individual or group investors in the Fund;

   

  (xxix)
      all insurance fees, costs and expenses (including fidelity bond, Board members and officers errors and omissions liability insurance
      and other insurance premiums incurred for the benefit of the Adviser);

  
     

    
      

    

  

  (xxx)
      all fees, costs and expenses of winding up and liquidating the Fund’s assets;

   

  (xxxi)
      all fees, costs and expenses related to compliance-related matters (such as developing and implementing specific policies and
      procedures in order to comply with certain regulatory requirements) and regulatory filings; notices or disclosures related to
      the Fund’s activities (including, without limitation, expenses relating to the preparation and filing of filings required
      under the Securities Act, TIC Form SLT filings, Internal Revenue Service filings under FATCA and FBAR reporting requirements applicable
      to the Fund or reports to be filed with the CFTC, reports, disclosures, filings and notifications prepared in connection with
      the laws and/or regulations of jurisdictions in which the Fund engages in activities, including any notices, reports and/or filings
      required under the AIFMD, European Securities and Markets Authority and any related regulations, and other regulatory filings,
      notices or disclosures of the Adviser relating to the Fund and its Affiliates relating to the Fund, and their activities) and/or
      other regulatory filings, notices or disclosures of the Adviser and its Affiliates relating to the Fund including those pursuant
      to applicable disclosure laws and expenses relating to FOIA requests, but excluding, for the avoidance of doubt, any expenses
      incurred for general compliance and regulatory matters that are not related to the Fund and its activities;

   

  (xxxii)
      all fees, costs and expenses (including travel) in connection with the diligence and oversight of the Fund’s service providers;

   

  (xxxiii)
      all fees, costs and expenses, including travel, meals, accommodations, entertainment and other similar expenses, incurred by the
      Adviser or its Affiliates for meetings with existing investors and any intermediaries, registered investment advisors, financial
      and other advisors representing such existing investors; and

   

  (xxxiv)
      all other all fees, costs and expenses incurred by the Administrator in connection with administering the Fund’s business.

   

  From
      time to time, the Administrator or its Affiliates may pay third-party providers of goods or services. The Fund will reimburse
      the Administrator or its Affiliates thereof for any such amounts paid on the Fund’s behalf. From time to time, the Administrator
      may defer or waive fees and/or rights to be reimbursed for expenses.

   

  Costs
      and expenses of OHA Private Credit Advisors II, L.P., in its capacity as both the Administrator and the Adviser, that are eligible
      for reimbursement by the Fund will be reasonably allocated to the Fund on the basis of time spent, assets under management, usage
      rates, proportionate holdings, a combination thereof or other reasonable methods determined by the Administrator.

   

  5.
        Limitation of Liability. To the fullest extent permitted by law, none of the Administrator and its respective directors,
      trustees, officers, equityholders or members (and their equityholders or members, including the owners of their equityholders
      or members), agents, employees, controlling persons (as determined under the 1940 Act (“Controlling Persons”)), any
      other person or entity Affiliated with the Administrator (including each of their respective directors, trustees, officers, equityholders
      or members (and their equityholders or members, including the owners of their equityholders or members), agents, employees or
      Controlling Persons) and any other person or entity acting on behalf of, the Administrator (each, a “Protected Person”)
      shall be liable to the Fund or any member for (a) any action taken or omitted to be taken, or alleged to be taken or omitted to
      be taken, by a Protected Person or any other person with respect to the Fund, including any negligent act or failure to act, except
      for any liability resulting from such Protected Person’s own fraud, willful malfeasance or gross negligence or (b) losses
      due to the negligence of brokers or other agents of the Fund unless such Protected Person was responsible for the selection of
      such broker or other agent and such Protected Person acted in such selection with fraud, willful malfeasance or gross negligence.
      For purposes of this Agreement, “Affiliate” or “Affiliated” or any derivation thereof means with respect
      to any individual, corporation, partnership, trust, joint venture, limited liability company or other entity or association (“Person”):
      (a) any Person directly or indirectly owning, controlling, or holding, with the power to vote, 25% or more of the outstanding
      voting securities of such other Person; (b) any Person 25% or more of whose outstanding voting securities are directly or indirectly
      owned, controlled or held, with the power to vote, by such other Person; (c) any Person directly or indirectly controlling, controlled
      by or under common control with such other Person; (d) any executive officer, director, trustee or general partner of such other
      Person; or (e) any legal entity for which such Person acts as an executive officer, director, trustee or general partner.

  
     

    
      

    

  

  Each
      Protected Person may consult with counsel and accountants in respect of Fund affairs (including interpretations of this Agreement)
      and shall be fully protected and justified in any action or inaction that is taken or omitted in good faith, in reliance upon
      and in accordance with the advice or opinion of such counsel or accountants selected without fraud, willful malfeasance or gross
      negligence. In determining whether a Protected Person acted with the requisite degree of care, such Protected Person shall be
      entitled to rely on written or oral reports, opinions, certificates and other statements of the officers, directors, employees,
      consultants, attorneys, accountants and professional advisors of the Fund and the Adviser, selected without fraud, willful malfeasance
      or gross negligence; provided, that such counsel or accountants were provided with all facts known by the Fund or the Administrator
      (and believed to be material) in connection with the advice being sought.

   

  (a)
      Indemnification. To the fullest extent permitted by law, the Fund shall indemnify, hold harmless, protect and defend each
      Protected Person from and against any and all losses, claims, damages, costs, liabilities and/or actions, suits or proceedings
      (whether civil, criminal, administrative or investigative and whether such action, suit or proceeding is brought or initiated
      by the Fund or a third party), including legal fees or other expenses incurred in investigating or defending against any such
      losses (including trade error losses), claims, damages, costs, liabilities or actions, suits or proceedings, and any amounts expended
      in settlement of any claims approved by the Fund and/or the Administrator (as applicable) (collectively, “Liabilities”)
      to which any Protected Person may become subject:

   

  (i)
      by reason of any act or omission or alleged act or omission (even if negligent) performed or omitted to be performed on behalf
      of the Fund, the Administrator and/or any of their respective Affiliates or otherwise in connection with the business of the Fund
      or its investment activities;

   

  (ii)
      by reason of the fact that such Protected Person is or was acting (or omitting to act) in connection with the business of the
      Fund or its administrative activities or its Administrator in any capacity or that it is or was serving at the request of the
      Fund as a direct or indirect partner, stockholder, member, director, officer, employee, manager, trustee, specified agent and/or
      legal representative of any Person, including any Subsidiary or any Issuer; or

   

  (iii)
      by reason of any other act or omission or alleged act or omission (even if negligent) arising out of or in connection with the
      activities of the Fund;

   

  unless,
      in each case, such Liability (x) was determined by a court of competent jurisdiction to have resulted from such Protected Person’s
      own fraud, willful malfeasance or gross negligence or (y) results from claims or proceedings arising solely out of internal disputes
      between or among direct or indirect partners of the Administrator. In addition, the Fund may indemnify and hold harmless other
      service providers of the Fund on the same or similar (or other) terms as those described herein with respect to Protected Persons.

  
     

    
      

    

  

  (b)
      Reimbursement of Expenses. The Fund shall promptly reimburse each Protected Person (upon receipt of an undertaking by or
      on behalf of such Protected Person to repay such amount if it shall ultimately be determined that he or she is not entitled to
      be indemnified by the Fund as authorized in this Section 5(b), or as may otherwise be required by the Investment Company Act)
      the attorneys’ fees and other fees, costs and expenses (as incurred to the extent permitted by the Investment Company Act)
      of each Protected Person in connection with investigating, preparing to defend or defending any claim, lawsuit, action or other
      proceeding relating to any Liabilities for which such Protected Person may be indemnified pursuant to this Section 5(b); provided,
      that, if it is determined by a court of competent jurisdiction that such Protected Person is not entitled to the indemnification
      provided by this Section 5(b), then such Protected Person shall repay such reimbursed or advanced amounts to the Fund; provided,
      further, that the advancement of reasonable legal or other expenses (as incurred) provided by this Section 5(b) shall not be permitted
      if the related claim, lawsuit or other proceeding has been brought forth by a Majority-In-Interest (as defined in the Fund’s
      limited liability company agreement, as amended from time to time). Notwithstanding the foregoing or any other provision herein,
      in the event that it is finally judicially determined (including by way of another applicable court of competent jurisdiction
      overturning a prior decision of a court of first instance) that a Protected Person did not engage in the conduct described in
      the final paragraph of Section 5(a), then the exculpation, indemnification, advancement and reimbursement terms described in the
      introduction of Section 5 and this Section 5(b) (including such Protected Person’s entitlement to indemnification and reimbursement)
      shall be applied and determined based solely on such final judicial determination.

   

  (c)
      Survival and Limitation of Protection.

   

  (i)
      The provisions of this Section 5(a) shall continue to afford protection to each Protected Person regardless of whether such Protected
      Person remains in the position or capacity pursuant to which such Protected Person became entitled to indemnification under this
      Section 5(a) and regardless of any subsequent amendment to this Agreement; provided, that no such amendment shall reduce or restrict
      the extent to which these indemnification provisions apply to actions taken or omissions made prior to the date of such amendment.

   

  (ii)
      The rights of indemnification provided in this Section 5(a) shall be in addition to any rights to which a Protected Person may
      otherwise be entitled by contract or as a matter of law, and shall extend to each of such Protected Person’s heirs, successors
      and assigns.

   

  6.
        Activities of the Administrator. The services of the Administrator to the Fund 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 board members, officers,
      employees and shareholders of the Fund are or may become interested in the Administrator and its Affiliates, as board members,
      officers, members, managers, employees, partners, shareholders or otherwise, and that the Administrator and board members, officers,
      members, managers, employees, partners and shareholders of the Administrator and its Affiliates are or may become similarly interested
      in the Fund as shareholders or otherwise.

   

  7.
        Duration and Termination. 

   

  (a)
      This Agreement shall become effective as of the date first written above. This Agreement may be terminated at any time, without
      the payment of any penalty, on 60 days’ written notice, by the Fund or by the Administrator. 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 5 shall continue in force and effect and apply to the Administrator and its representatives as and to the extent
      applicable.

  
     

    
      

    

  

  (b)
      This Agreement shall continue in effect for two (2) years from the date hereof, or to the extent consistent with the requirements
      of the Investment Company Act, from the date of the Fund’s election to be regulated as a BDC under the Investment Company
      Act, 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 Outstanding Voting Securities (as
      defined below) and (ii) the vote of a majority of the Fund’s Board members 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. A “Majority of Outstanding Voting Securities”
      means the lesser of (i) 67 percent or more of the outstanding voting securities of the Fund present at a meeting of the members
      of the Fund, if the holders of more than 50 percent of the outstanding voting securities of the Fund are present or represented
      by proxy at such meeting; or (ii) more than 50 percent of the outstanding voting securities of the Fund.

   

  (c)
      This Agreement will automatically terminate in the event of its “assignment” (as such term is defined for purposes
      of Section 15(a)(4) of the Investment Company Act).

   

  (d)
      The Administrator shall promptly upon termination of this Agreement:

   

  (i)
      deliver to the Board a full accounting, including a statement showing all payments collected by it and a statement of all money
      held by it, covering the period following the date of the last accounting furnished to the Board;

   

  (ii)
      deliver to the Board all assets and documents of the Fund then in custody of the Administrator; and

   

  (iii)
      cooperate with the Fund to provide an orderly transition of services.

   

  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 governed, construed and interpreted in accordance with the laws of the State
      of New York, provided, however, that nothing herein shall be construed as being inconsistent with the Investment
      Company Act.

   

  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.

   

  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.

   

  12.
        Compliance with Law. The Administrator covenants and agrees that its activities shall at all times comply in all respects
      with all applicable federal and state laws, rules and regulations governing its operations and investments, except to the extent
      that any such noncompliance would not have, and would not reasonably be expected to have, a material adverse effect on the ability
      of the Administrator to operate is business and to fulfill its obligations under this Agreement.

   

  12.
        Representations and Warranties.

   

  The
      Administrator hereby represents and warrants to and agrees with the Fund that as of the date of this Agreement:

   

  (a)
      the Administrator is a limited partnership duly formed and validly existing under the laws of the State of Delaware and has all
      requisite limited partnership power and authority to carry on its business as currently conducted and as proposed to be conducted
      pursuant to this Agreement;

   

  (b)
      the Administrator is duly qualified to transact business in every jurisdiction in which the character of the business conducted
      by it makes such qualification necessary, except where the failure to be so qualified would not have a material adverse effect
      on the business operations or financial condition of the Administrator;

   

  (c)
      the execution and delivery of this Agreement by the Administrator has been authorized by all necessary action on behalf of the
      Administrator, and is a legal, valid and binding agreement of the Administrator, enforceable against the Administrator in accordance
      with its terms;

  
     

    
      

    

  

  (d)
      to its knowledge, the execution and delivery of this Agreement by the Administrator and the performance of its obligations hereunder
      will not conflict with or result in any material violation or default under any provision of the limited partnership agreement
      of the Administrator or any other material agreement or instrument to which the Administrator is a party, or by which it or any
      of its properties are bound, or any material order, writ, permit, franchise, judgment, decree, statute, rule or regulation applicable
      to the Administrator or its businesses or properties, except where such conflict, violation or default would not have a material
      adverse effect on the Administrator’s management of the Fund’s assets, or require the Administrator to make any material
      filing or registration with, or obtain any material approval, authorization, license or consent of, any court or governmental
      department, agency or authority or self-regulatory authority or any party to an agreement that has not already been duly and validly
      obtained, except where the failure to make such filing or registration or to obtain such approval, authorization, license or consent
      would not have a material adverse effect on the Administrator’s management of the Fund’s assets; and

   

  (e)
      the Administrator is registered as an investment adviser with the SEC under the Advisers Act.

   

  [Signature
        Page Follows]

  
     

    
      

    

  

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

   

  	OHA SENIOR PRIVATE LENDING FUND (U) LLC 	 
	 	 	 
	By:	/s/ Gerard Waldt Jr.

        	 
	Name:	Gerard Waldt Jr.

        	 
	Title:	Chief Financial Officer

        	 
	 	 	 
	OHA PRIVATE CREDIT ADVISORS II, L.P. 	 
	 	 	 
	By:	/s/ Gregory S. Rubin

        	 
	Name:	Gregory S. Rubin

        	 
	Title:	Vice President and SecretaryExhibit
        10.3 

   

  

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  OHA
        SENIOR PRIVATE LENDING FUND (U) LLC

   

  Limited
        Liability Company Interest

   

  

  
  
     

  

  
  

   

  SUBSCRIPTION

   

  BOOKLET

   

  

  
  
     

  

  
   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  OHA
        SENIOR PRIVATE LENDING FUND (U) LLC

   

  

  
  
     

  

  
  

      SUBSCRIPTION CHECKLIST

    

   

  

  
  
     

  

  
  

   

  Please
          read this checklist after completing the attached Subscription Booklet of

      OHA Senior Private Lending Fund (U) LLC (the “Subscription Booklet”).

   

  	 
	Before submitting the Subscription Booklet, please confirm completion of the following tasks:
	 
	 ☐	Have you filled in
            the name of the investor and subscription amount on the first page of the Subscription Agreement in Part 1 of the Subscription Booklet?
	 	 
	 ☐	Have you completed the Investor
            Questionnaire in Part 2 of the Subscription Booklet?
	 	 
	 ☐	Have you completed the Investor
            Data Sheet in Part 3 of the Subscription Booklet?
	 	 
	 ☐	Have you signed and dated the
            signature page in Part 4 of the Subscription Booklet?
	 	 
	 ☐	Have you completed, signed,
            dated and attached an Internal Revenue Service (“IRS”) Form W-9, as described in Part 6 of the Subscription Booklet?
	 	 
	 ☐	Have you completed, signed and
            dated the Anti-Money Laundering Questionnaire in Part 7 of the Subscription Booklet?
	 	 
	 ☐	Have you collected the
            applicable investor back-up documents described in Part 7 of the Subscription Booklet?
	 	 
	 ☐	If applicable, have you
            completed, signed and dated the Certification of Intermediaries in Part 7 of the Subscription Booklet?
	 	 

   

  
     

    
      

    

  

   

  OHA
        SENIOR PRIVATE LENDING FUND (U) LLC

   

  

  
  
     

  

  
  

    SUBSCRIPTION INSTRUCTIONS

  

  

  

  
  
     

  

  
    

  This
      subscription booklet (the “Subscription Booklet”) relates to the offering of a limited liability company interest
      (an “Interest”) in OHA Senior Private Lending Fund (U) LLC, a Delaware limited liability company (the “Company”
      or the “Fund”). This Subscription Booklet contains all of the materials necessary for you to subscribe for
      the Interest. Prior to completing such materials, you should read the Company’s Form 10 Registration Statement filed with
      the Securities and Exchange Commission (“SEC”), the Amended and Restated Limited Liability Company Agreement
      (as amended, modified and/or restated from time to time, the “LLC Agreement”), and the Investment Advisory
      Agreement entered into between the Company and OHA Private Credit Advisors II, L.P., a Delaware limited partnership (the “Advisor”).

   

  You
      may apply to become a Member of the Company by taking the following steps:

   

  1.           Read the subscription
      agreement of the Company (the “Subscription Agreement”) (Part 1).

   

  2.           Fill in the name of the
      investor and the amount of the Capital Commitment (as defined herein) on the first page of the Subscription
      Agreement (Part 1).

   

  3.           Complete the Investor
      Questionnaire (Part 2). For investors that are nominee, custodial or other similar accounts,
      Part 2 of this Subscription Booklet must be completed on behalf of the underlying investor(s) and such nominee
      / custodial or other similar account in its capacity as nominee, custodian or other similar party for the underlying investor(s).
      If responses to questions in Part 2 differ between the nominee / custodial or other similar account in its capacity
      as nominee, custodian or other similar party and the underlying investor(s), please contact OHA Private Credit Advisors II, L.P.
      whose contact information is set forth below.

   

  4.           Complete the Investor
      Data Sheet (the investor must provide all information regarding its identity, including its name and tax
      identification number or social security number and all contact information) (Part 3).

   

  5.           Complete, sign and date
      the signature page (which evidences your agreement to be bound by the terms and conditions of both the
      Subscription Agreement and the LLC Agreement) (Part 4).

   

  6.           Read the Privacy Notice
      of the Company and related parties (Part 5).

   

  7.           As a “U.S. person” for
      U.S. federal income tax purposes, complete, sign and date Internal Revenue Service (“IRS”)
      Form W-9 “Request for Taxpayer Identification Number and Certification” in accordance with the instructions accompanying
      such form (Part 6).

   

  8.           Complete, sign and date
      the Anti-Money Laundering Questionnaire and provide the requested back-up documentation (Part 7).

   

  
    3

    
      

    

  

   

  

  9.           If applicable,
      complete, sign and date the Certification of Intermediaries (included in Part 7).

   

  10.         Please email the entire
      Subscription Booklet (including any unmarked pages) and appropriate back-up documentation to:

   

  State
      Street Global Services | Transfer Agency 

  		Emails:	
          nwalch@statestreet.com

        

  altopsta@statestreet.com

   

  With
      a copy to:

   

  ClientServices.IR@oakhilladvisors.com

   

  (please
      encrypt before sending)

   

  11.          If your subscription is
      accepted by the Company (in whole or in part), then a fully executed copy of the Subscription Booklet
      shall be returned to you.

   

  12.          Questions regarding the
      subscription documents should be directed to:

   

  State
      Street Global Services | Transfer Agency 

  		Emails:	
          nwalch@statestreet.com

        

  altopsta@statestreet.com

   

  With
      a copy to:

   

  ClientServices.IR@oakhilladvisors.com

   

  
    4

    
      

    

  

   

  

  PART
      1

   

  
    5

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  OHA
        SENIOR PRIVATE LENDING FUND (U) LLC

   

  

    

  
  
     

  

  
  
      Full Name of Investor

   

  

  
  
     

  

  
  Capital Commitment

   

  OHA
      Senior Private Lending Fund (U) LLC

      c/o OHA Private Credit Advisors II, L.P.

      1 Vanderbilt Avenue, 16th Floor

      New York, NY 10017

   

  Ladies
      and Gentlemen:

   

  This
      subscription agreement (together with the Investor Questionnaire and the Investor Data Sheet, collectively referred to herein
      as this “Subscription Agreement”) is made by and among OHA Senior Private Lending Fund (U) LLC, a Delaware
      limited liability company (the “Company”), OHA Private Credit Advisors II, L.P., a Delaware limited partnership
      and the adviser of the Company (the “Advisor”), and the undersigned individual or entity (the “Investor”)
      who is hereby applying to become a member of the Company (a “Member”), on the terms and conditions set forth
      in (a) this Subscription Agreement, (b) the amended and restated limited liability company agreement of the Company (as amended,
      modified and/or restated from time to time, the “LLC Agreement”), (c) the Investment Advisory Agreement, between
      the Company and the Advisor (as amended, modified and/or restated from time to time, the “Investment Advisory Agreement”),
      and (d) the Company’s Form 10 Registration Statement filed with the Securities and Exchange Commission (“SEC”)
      (the “Form 10”, together with this Subscription Agreement, the LLC Agreement and the Investment Advisory Agreement,
      the “Fund Documents”), copies of which have been furnished to the Investor (including by way of furnishing
      such documents to an electronic data room or internet website to which the Investor has been granted access). Capitalized terms
      used but not defined in this Subscription Agreement have the meanings set forth in the LLC Agreement.

   

  Except
      as otherwise indicated, all references herein to “$” or “dollars” are to U.S. dollars.

   

  I.            SUBSCRIPTION
        AGREEMENT

   

  The
      Investor hereby irrevocably subscribes for a limited liability company interest in the Company (an “Interest”)
      with a capital commitment (the “Capital Commitment”) in the amount set forth above and on the Investor’s
      signature page hereof (subject to reduction as provided below). The Interest shall not be deemed to be sold or issued to, or owned
      by, the Investor (and the Investor’s subscription for the Interest, in whole or in part, shall not be deemed finally accepted)
      until the Investor is admitted as a Member to the Company. The Investor acknowledges and agrees that the Advisor reserves the
      right, in its discretion, to admit the Investor as a Member to the Company on the date of any closing of the Company (each such
      date of admission, a “Closing Date”) and that the Advisor reserves the right, in its discretion, to reject
      this subscription for the Interest, in whole or in part, at any time prior to any Closing Date, notwithstanding execution by or
      on behalf of the Investor of the signature page hereof or notice from the Advisor of its conditional acceptance of the Investor’s
      subscription for the Interest. If this subscription is rejected in full, or in the event the Closing Date applicable to the Investor
      does not occur (in which event this subscription shall be deemed to be rejected), this Subscription Agreement shall thereafter
      have no force or effect; provided, that, notwithstanding the foregoing, if a portion of the Investor’s Capital
      Commitment is not accepted as of a Closing Date for any purpose set forth in the LLC Agreement or as otherwise agreed with the
      Investor (while the remaining portion of the Investor’s Capital Commitment is accepted as of such Closing Date), then such
      portion of such Capital Commitment that was not accepted shall remain part of the Investor’s irrevocable subscription pursuant
      to this Subscription Agreement (which shall remain in full force and effect) until the earlier of (I) the Final Closing (with
      respect to the portion, if any, not accepted by the Advisor) and (II) the date on which the Advisor notifies the Investor in writing
      that such portion of its Capital Commitment that was not accepted will not be accepted by the Company as of any subsequent Closing
      Date. During such period, the Advisor may, in its discretion, as of one or more subsequent Closing Dates and with prior written
      notice to the Investor, accept all or any part of the portion of the Investor’s Capital Commitment that previously was not
      accepted, in each case, in a manner consistent with the LLC Agreement. The accepted amount of the Investor’s Capital Commitment
      with respect to a Closing Date shall be the amount set forth on the Advisor’s signature page hereto applicable to such Closing
      Date. As of any applicable subsequent Closing Date that the Advisor accepts all or any part of the portion of the Investor’s
      Capital Commitment that previously was not accepted, the total accepted amount of the Investor’s Capital Commitment shall
      be the amount set forth on the Advisor’s most recent additional signature page hereto. The Investor agrees to be bound by
      the terms of the LLC Agreement and specifically confirms and agrees to the appointment of the Advisor as the Investor’s
      attorney-in-fact under the provisions of and in accordance with the terms of the LLC Agreement.

   

  
    1

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  II.         REPRESENTATIONS
        AND WARRANTIES

   

  A.          Representations and
        Warranties of the Investor. The Investor hereby represents and warrants to, and agrees with, the Advisor
      and the Company that the following statements are true as of the date hereof and shall be true as of each Closing Date applicable
      to the Investor and as of each date on which the Investor makes any Capital Contributions or additional Capital Commitments to
      the Company:

   

  1.            The Investor’s
      Interest is being acquired by the Investor, either for the Investor’s own account or as an agent, a
      representative, an intermediary, or a nominee for another Person, solely for investment and not with a view to resale, distribution,
      assignment or transfer of all or a portion thereof.

   

  2.            a.             The
      Investor acknowledges that: (i) the offering and sale of the Interest have not been and will not be registered
      under the U.S. Securities Act of 1933, as amended from time to time (the “Securities Act”), and are
      being made in reliance upon U.S. federal and state exemptions for transactions not involving a public offering.

   

  b.            The Investor
      represents and warrants that: (i) it is an “accredited investor” (as defined in Regulation D promulgated
      under the Securities Act); (ii) it is a “qualified purchaser” (as defined in Section 2(a)(51)(A) of the Investment
      Company Act and the regulations issued thereunder); and (iii) the Investor will not engage in hedging transactions involving the
      Interest unless in compliance with the Securities Act and other applicable U.S. and/or non-U.S. securities laws. The Investor
      agrees that it will not take any action that could have an adverse effect on the availability of the exemption from registration
      provided by Regulation D promulgated under the Securities Act with respect to the offer and sale of the Interest.

   

  c.            The information
      relating to the Investor set forth in the Investor Questionnaire, the Investor Data Sheet and the Anti-Money Laundering
      Questionnaire attached hereto and forming a part of this Subscription Agreement is complete and accurate.

   

  3.            In connection with
      the purchase of the Interest, the Investor represents and warrants that: (a) it meets all suitability standards
      imposed on it by applicable law; and (b) the Investor is not structured or operated for the purpose or as a means of circumventing
      the provisions of the Investment Company Act.

   

  
    2

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  4.            The Investor has
      been furnished with, and has carefully read, the Fund Documents and has been given the opportunity to (a) ask
      questions of, and receive answers from, the Advisor or any of its Affiliates concerning the terms and conditions of the offering
      of the Interest and other matters pertaining to an investment in the Company and (b) obtain any additional information necessary
      to evaluate the merits and risks of an investment in the Company that the Advisor can acquire without unreasonable effort or expense.
      In considering a subscription for the Interest, the Investor has evaluated for itself the risks and merits of such investment
      and is able to bear the economic risk of such investment, including a complete loss of capital, and in addition has not relied
      upon any representations made by, or other information (whether oral or written) furnished by or on behalf of, the Company, the
      Advisor or any director, officer, employee, agent or Affiliate of such Persons, other than as set forth in the Fund Documents.
      The Investor has carefully considered and has, to the extent it believes necessary, discussed with legal, tax, accounting and
      financial advisors the suitability of an investment in the Company in light of its particular tax and financial situation, and
      has determined that the Interest being subscribed for hereunder is a suitable investment for the Investor.

   

  5.            The Investor (either
      alone or together with any advisors retained by the Investor in connection with evaluating the merits and
      risks of prospective investments) has sufficient knowledge and experience in financial and business matters so as to be capable
      of evaluating the merits and risks of purchasing the Interest, including the risks set forth in the Form 10, and is able to bear
      the economic risk of such investment, including a complete loss of capital.

   

  6.            The Investor, if it
      is a corporation, limited liability company, trust, partnership or other entity, is duly organized, validly
      existing and in good standing under the laws of its jurisdiction of organization, and the execution, delivery and performance
      by the Investor of this Subscription Agreement and the execution of the LLC Agreement on behalf of the Investor and the performance
      of the Investor’s duties and obligations thereunder are within the Investor’s corporate or other powers, as applicable,
      have been duly authorized by all necessary corporate or other action on its behalf, require no action by or in respect of, or
      filing with, any governmental body, agency or official (except as disclosed in writing to the Advisor), and do not and shall not
      result in a breach of any of the terms, conditions or provisions of, or constitute a default under, any provision of any charter,
      by-laws, trust agreement, indenture, mortgage, deed of trust, credit, note or evidence of indebtedness, or any lease or other
      agreement, or any license, permit, franchise or certificate, regulation, law, judgment, order, writ, injunction or decree to which
      the Investor is a party or by which the Investor or any of its properties is bound. This Subscription Agreement and the LLC Agreement
      have been duly executed and delivered by, or on behalf of, the Investor and constitute valid and binding agreements of the Investor,
      enforceable against the Investor in accordance with their terms, except as enforceability may be limited by applicable bankruptcy,
      insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general
      equitable principles (whether enforcement is sought by proceedings in equity or at law).

   

  7.            If the Investor is a
      natural person, the execution, delivery and performance by the Investor of this Subscription Agreement and
      the execution of the LLC Agreement on behalf of the Investor and the performance of the Investor’s duties and obligations
      thereunder are within the Investor’s legal right, power and capacity, require no action by or in respect of, or filing with,
      any governmental body, agency, or official (except as disclosed in writing to the Advisor), and do not and shall not result in
      a breach of any of the terms, conditions or provisions of, or constitute a default under, any provision of applicable law or regulation
      or of any judgment, order, writ, injunction or decree or any agreement or other instrument to which the Investor is a party or
      by which the Investor or any of the Investor’s properties is bound. This Subscription Agreement and the LLC Agreement have
      been duly executed and delivered by, or on behalf of, the Investor and constitute valid and binding agreements of the Investor,
      enforceable against the Investor in accordance with their terms, except as enforceability may be limited by applicable bankruptcy,
      insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general
      equitable principles (whether enforcement is sought by proceedings in equity or at law).

   

  
    3

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  8.            The Investor is not
      a defined contribution plan (such as a plan qualified under Section 401(a) of the U.S. Internal Revenue
      Code of 1986, as amended from time to time (the “Code”)) or a partnership or other investment vehicle
      (a) in which its partners or participants have or shall have any discretion to determine whether or how much of the Investor’s
      assets are invested in any investment made or to be made by the Investor or (b) that is otherwise an entity managed to facilitate
      the individual decisions of its beneficial owners to invest in the Company.

   

  9.            If the Investor is,
      or is acting (directly or indirectly) on behalf of, a Benefit Plan Investor (as defined in the Investor Questionnaire),
      the Investor represents that: (a) assuming that the assets of the Company are not “plan assets” for purposes of the
      U.S. Employee Retirement Income Security Act of 1974, as amended from time to time (“ERISA”), the purchase,
      holding and disposition of the Interest by the Investor will not result in a prohibited transaction under Section 406 of
      ERISA or Section 4975 of the Code for which an exemption is not available; (b) neither the Investor nor any fiduciary or
      other person acting on the Investor’s behalf has solicited or received from the Advisor or any of their respective directors,
      officers, members, partners, employees, agents, principals, or Affiliates (collectively, “Designated Persons”),
      any evaluation or other investment advice on any basis in respect of the advisability of a subscription for the Interest in light
      of the Plan’s (as defined below) assets, cash needs, investment policies or strategy, overall portfolio composition or plan
      for diversification of assets or is relying on or has relied on any Designated Person for any such advice; and (c) no Designated
      Person is a “fiduciary” of the Investor within the meaning of Section 3(21) of ERISA or Section 4975(e)(3) of the
      Code (either with respect to the Investor’s decision to purchase the Interest, to maintain its investment in the Interest,
      to dispose of the Interest, or otherwise).

   

  10.          If the Investor is,
      or is acting (directly or indirectly) on behalf of, a governmental pension plan, a non-electing church plan,
      a non–U.S pension plan, or any other employee benefit plan, arrangement, or account that is subject to any U.S. federal,
      non–U.S., state, or local laws or regulations that are substantially similar to ERISA, including Section 406 of ERISA, or
      any other provision thereof or any regulation promulgated thereunder, or Section 4975 of the Code (collectively, “Similar
        Laws”), the Investor represents that: (a) the purchase, holding and disposition of the Interest by the Investor shall
      not result in a violation of any Similar Laws for which an exemption is not available; (b) neither the Investor nor any fiduciary
      or other person acting on the Investor’s behalf has solicited or received from any Designated Person any evaluation or other
      investment advice on any basis in respect of the advisability of a subscription for the Interest in light of the Plan’s
      assets, cash needs, investment policies or strategy, overall portfolio composition or plan for diversification of assets or is
      relying on or has relied on any Designated Person for any such advice; and (c) the Investor’s investment in the Company
      will not subject the Company or the Advisor to Similar Laws or cause the assets of the Company to be treated as the assets of
      such Investor for purposes of Similar Laws.

   

  11.          If the Investor is,
      or is acting (directly or indirectly) on behalf of, a Benefit Plan Investor or a plan subject to Similar Laws
      (in each case, a “Plan”), then: (a) the decision to invest in the Company was made by a fiduciary (within
      the meaning of Section 3(21) of ERISA or Section 4975(e)(3) of the Code, or under applicable Similar Laws) of the Plan (the “Fiduciary”),
      and such Fiduciary and each person who receives advice of any character from any Designated Person in connection with the Investor’s
      investment in the Company, if any, (i) is independent of and unrelated to the Designated Persons; (ii) is responsible for exercising
      independent judgment in evaluating the investment in the Company; (iii) is duly authorized to make such an investment decision;
      (iv) is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment
      strategies, including the Plan’s investment in the Company; (v) understands that none of the Designated Persons is undertaking
      or has undertaken to provide investment advice (whether impartial or otherwise), or to give advice in a fiduciary capacity, to
      the Plan in connection with the Plan’s purchase, holding, or disposition of the Interest, or otherwise; (vi) understands
      that none of the Designated Persons receives a fee or other compensation from the Investor or the Fiduciary for the provision
      of investment advice in connection with the Investor’s decision to purchase, hold or dispose of the Interest; and (vii)
      understands that none of the Designated Persons (1) has exercised any investment discretion or control with respect to the Plan’s
      purchase of the Interest, (2) has authority or responsibility to give, or has given, individualized investment advice with respect
      to the Plan’s decision to purchase the Interest, or (3) is the employer maintaining or contributing to such Plan; (b) the
      Fiduciary has taken into consideration its fiduciary duties under ERISA or any applicable Similar Laws, including the diversification
      requirements of Section 404(a)(1)(C) of ERISA (if applicable), in authorizing the Plan’s investment in the Company and has
      concluded that such investment is prudent; and (c) the Plan’s subscription to invest in the Company and the purchase of
      the Interest is in accordance with the terms of the Plan’s governing instruments and complies with all applicable requirements
      of ERISA, the Code and Similar Laws.

   

  
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  12.          If the Investor
      constitutes a partnership, grantor trust or S-corporation for U.S. federal income tax purposes,
      there is no beneficial owner of the Investor, substantially all of the value of whose interest in the Investor is attributable
      to the Investor’s Interest (direct or indirect) within the meaning of Treasury Regulation Section 1.7704-1(h)(3).

   

  13.          The Investor was
      offered the Interest in the state or other jurisdiction identified in Part 1 of the Investor Data Sheet under
      the heading “Principal Place of Business or Address of Investor” and the Investor intends that the securities laws
      of such state or other jurisdiction shall govern the Investor’s subscription for the Interest.

   

  14.          The Investor is not
      subscribing for the Interest as a result of or subsequent to (a) any advertisement, article, notice or
      other communication published in any newspaper, magazine or similar medium or broadcast over radio, television or the Internet
      or (b) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising.

   

  15.          Any Capital
      Contributions made by the Investor to the Company shall not directly or indirectly be derived from activities that
      may contravene applicable laws and regulations, including anti-money laundering, counter-terrorist and prevention of proliferation
      financing laws and regulations. The Investor is in compliance in all material respects with anti-money laundering, counter-terrorist
      financing and prevention of proliferation financing laws and regulations applicable to it.

   

  16.          The rules and
      regulations administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”),
      the U.K. Her Majesty’s Treasury (“HMT”), the United Nations Security Council Committee, the Ministry
      of Finance Japan, and the European Union prohibit, among other things, the engagement in transactions with, and the provision
      of services to, certain countries, territories, entities and individuals (collectively, the “Sanctions Lists”
      and, where applicable to countries and territories, the “Sanctioned Countries”). The Sanctions List(s) are
      publicly available. In addition, the programs administered by OFAC (“OFAC Programs”) prohibit dealing with
      individuals or entities in certain countries regardless of whether such individuals or entities appear on the OFAC lists. The
      Investor represents and warrants that, to the best of its knowledge (after due inquiry), none of: (a) the Investor; (b) any Person
      controlling or controlled by the Investor; (c) if the Investor is a privately held entity, any Person having a beneficial interest
      in the Investor; (d) if the Investor (and its beneficial owners) is not the beneficial owner of all of the Interest, any Person
      having a beneficial interest in the Interest; or (e) any Person for whom the Investor is acting as agent or nominee in connection
      with this investment in the Interest is a country, territory, individual or entity named on any Sanctions List, or is a person
      or entity located, organized or resident in any Sanctioned Country or otherwise prohibited under the OFAC Programs.

   

  Please
      be advised that the Company may not accept the Investor’s subscription for the Interest if it cannot make the representations
      set forth in the preceding paragraph. In addition, if the Investor can no longer make the representations set forth in the preceding
      paragraph, the Company, the Company’s administrator, if applicable, and/or the Advisor may require the withdrawal of the
      Investor or take such other action as may be required under applicable law or permitted hereunder including, without limitation,
      those set forth in Section III.9 below.

   

  
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  17.          The Investor
      represents and warrants that (A) it has conducted due diligence and based on such due diligence reasonably believes
      that none of: (a) the Investor or any of the directors or senior individuals responsible for the Investor’s operations;
      (b) any Person having a beneficial interest in the Investor; (c) if the Investor (and its beneficial owners) is not the beneficial
      owner of all of the Interest, any Person having a beneficial interest in the Interest; or (d) any Person for whom the Investor
      is acting as agent or nominee in connection with this investment in the Interest is, or has in the last 12 months been, a senior
      political figure1 or any immediate family member2 or close associate3 of a current senior
      political figure, or a politically exposed person4 or any family member5 or close associate6
      of a politically exposed person; and (B) if the representations in sub-paragraphs (A) (a) to (d) above cannot be made by
      the Investor, the Investor has notified the Advisor of the specific relevant political connections in writing, with a reference
      to this paragraph.

   

  18.          The
      Investor (or any beneficial owner of the Investor) is not located, organized, or operating in a country or territory, and is not
      an entity, that (a) has been designated as non-cooperative with international anti-money laundering and counter-terrorist financing
      principles or procedures by an intergovernmental group or organization, such as the Financial Action Task Force, of which each
      of the United States and the United Kingdom is a member, (b) has been designated by the European Union as a high-risk third country
      for the purposes of the pan-European Money Laundering Directive (as amended) or has been designated by HMT as a high risk third
      country for the purposes of the UK Money Laundering Regulations (as amended). If required by the Investor, the relevant European
      Union and HMT high risk third country lists can be obtained from the Advisor upon request, (c) is the subject of an advisory issued
      by the Financial Crimes Enforcement Network of the U.S. Treasury Department or (d) has been designated by the Secretary of the
      Treasury under Section 311 of the USA PATRIOT Act as warranting special measures due to money laundering concerns. If the representations
      in sub-paragraphs (a) to (d) above cannot be made by the Investor, the Investor has notified the Advisor in writing of the specific
      relevant facts with a reference to this paragraph. If the Investor is a non-U.S. banking institution (a “Non-U.S. Bank”)
      or if the Investor receives deposits from, makes payments on behalf of, or handles other financial transactions related to a Non-U.S.
      Bank, the Investor represents and warrants to the Company that: (i) the Non-U.S. Bank has a fixed address, other than solely
      an electronic address, in a country in which the Non-U.S. Bank is authorized to conduct banking activities; (ii) the Non-U.S.
      Bank employs one or more individuals on a full-time basis; (iii) the Non-U.S. Bank maintains operating records related to
      its banking activities; (iv) the Non-U.S. Bank is subject to inspection by the banking authority that licensed the Non-U.S. Bank
      to conduct banking activities; and (v) the Non-U.S. Bank does not provide banking services to any other Non-U.S. Bank that
      does not have a physical presence in any country and that is not a regulated affiliate.

   

  
  
     

  

  
  

  	1	A “senior political figure” is defined as a person who is or has been entrusted with a prominent public function in the executive
            (including regional governments in federalized systems and devolved administrations), legislative, administrative, foreign service (including ambassadors and charge d’affaires), military (including high-ranking officers in the armed forces) or
            judicial branches of a government (whether elected or not), a senior official of a major political party (being a political party that has some representation in a national or supranational parliament or similar legislative body), a senior
            executive of a government-owned corporation, members of courts of auditors or the board of a central bank. A “senior political figure” also includes the directors, deputy directors and members of the board or equivalent of international public
            organizations. In addition, a “senior political figure” includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior political figure.

   

  	2	“Immediate family” of a senior political figure typically includes the political figure’s parents, siblings, spouse (or person
            considered to be equivalent to a spouse), children (and their spouses or persons considered to be equivalent to a spouse) and in-laws.

   

  	3	A “close associate” of a senior political figure is a person who is widely and publicly known to maintain an unusually close
            relationship with the senior political figure, and includes a person who is in a position to conduct substantial financial transactions on behalf of the senior political figure. A “close associate” also includes persons who are known to have
            joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a senior political figure and natural persons who have sole beneficial ownership of a legal entity or legal arrangement that is
            known to have been set up for the de facto benefit of a senior political figure.

   

  	4	A “politically exposed person” is defined under Cayman Islands law as (a) a person who is or has been entrusted with prominent public
            functions by a foreign country, for example a Head of State or of government, senior politician, senior government, judicial or military official, senior executive of a state owned corporation, and important political party official; (b) a
            person who is or has been entrusted domestically with prominent public functions, for example a Head of State or of government, senior politician, senior government, judicial or military official, senior executives of a state owned corporation
            and important political party official; and (c) a person who is or has been entrusted with a prominent function by an international organisation like a member of senior management, such as a director, a deputy director and a member of the board
            or equivalent functions.

   

  	5	A “family member” of a politically exposed person includes the spouse, parent, sibling or child of a politically exposed person.

   

  	6	A “close associate” of a politically exposed person means any natural person who is known to hold the ownership or control of a legal
            instrument or person jointly with a politically exposed person, or who maintains some other kind of close business or personal relationship with a politically exposed person, or who holds the ownership or control of a legal instrument or person
            which is known to have been established to the benefit of a politically exposed person.

   

  
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  19.          In connection with
      the subscription for an Interest, neither the Investor nor any representative or agent of the Investor, any
      person holding an interest in the Investor, or any other person acting for or on the Investor’s behalf, has offered, paid,
      promised to pay, authorized the payment of, been offered, been promised, or received any money or anything of value, whether directly
      or indirectly, to or from any person, including any Government Official7, political party, candidate for public office,
      or employee of a public international organization, nor provided or promised anything of value to any other person while knowing
      that all or a portion of that thing of value would be or was reasonably likely to be offered, given, or promised, directly or
      indirectly, to or from any person for the purpose of improperly influencing any official act or decision, including any act or
      decision of a Government Official, political party, candidate for public office, or employee of a public international organization,
      to obtain or retain business, or to secure an improper advantage. In addition, neither the Investor nor any representative or
      agent of the Investor, any person holding an interest in the Investor, or any other person acting for or on the Investor’s
      behalf in connection with the Investor’s subscription for an Interest has violated any applicable anti-corruption laws,
      including, without limitation, the U.S. Foreign Corrupt Practices Act and the Cayman Islands Anti-Corruption Act, has violated
      any applicable anti-money laundering, counter-terrorist financing or prevention of proliferation financing laws or regulations
      or otherwise has made, offered, sought, provided or received any bribe, payoff, influence payment, kickback, or other unlawful
      payment or improper advantage.

   

  20.          The Investor
      represents that either: (a)(i) it is subscribing for the Interest for its own account, risk and beneficial interest,
      (ii) it is not acting as a trustee, agent, representative, intermediary, nominee, swap counterparty or in any similar capacity
      for any other person, and (iii) no other person will have a beneficial or economic interest in the Interest subscribed for by
      the Investor; or (b) if the Investor is an intermediary investing in the Company in its own name on behalf of other investors,
      which may include, without limitation, an introducing firm, an asset aggregator, a nominee, a trustee, an agent, a representative,
      a fund-of-funds, a swap counterparty or any other pooled or intermediary investment vehicle (each, an “Intermediary”),
      the Investor represents that it is subscribing for the Interest as a record owner in its capacity as an Intermediary on behalf
      of one or more investors (“Underlying Investors”), and agrees that the representations, warranties and covenants
      made in this Subscription Agreement are made by it on behalf of itself and the Underlying Investors. If the Investor is an
        Intermediary, the Investor must complete the Certification of Intermediaries (included as Appendix B to Part 7 of
        this Subscription Booklet). The Investor further represents and warrants that (x) it has obtained and recorded evidence of
      the identity of the Underlying Investors and their source of funds and it will make available such evidence, if requested to do
      so by the Company and (y) it has all requisite power and authority from the Underlying Investors to execute and perform the obligations
      under this Subscription Agreement. The Investor agrees that it shall indemnify and hold harmless each Protected Person for any
      and all Liabilities resulting from the Investor’s or the Underlying Investor’s misrepresentations or misstatements
      contained herein, or the assertion of the Investor’s lack of proper authorization from an Underlying Investor to enter into
      this Subscription Agreement and/or to perform the obligations hereunder.

   

  

  
  
     

  

  
  

  	7	“Government Official” means any officer or employee of a department, agency, or instrumentality of any government, whether national,
            regional, provincial, state, municipal, or local, including state-owned or state-controlled entities and enterprises.

   

  
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  21.          The Investor
      represents that, with respect to the Investor and any other person who, through the Investor’s ownership, would
      be deemed to beneficially own (as defined under Rule 13d-3 promulgated under the U.S. Securities and Exchange Act of 1934, as
      amended from time to time (the “Exchange Act”)) 20% or more of the Company’s outstanding voting equity
      securities, calculated on the basis of voting power (the Investor and any such beneficial owner, each a “Covered Person”),
      none of the events or conditions described in Rule 506(d) under Regulation D promulgated under the Securities Act (each, a “Rule
        506(d) Event”) has occurred or is true as of the date hereof. The Investor shall promptly provide written notice to
      the Company in the event that, after the date hereof, with respect to a Covered Person, a Rule 506(d) Event does occur or becomes
      true or the Investor becomes aware of a Rule 506(d) Event that has occurred or has become true. The Investor further agrees that
      upon notification by the Company, the Investor and, if applicable, its beneficial owners shall promptly complete and return to
      the Company such information or forms as the Advisor reasonably requests so that the Company may satisfy any conditions or requirements
      of Rule 506(d) of Regulation D promulgated under the Securities Act that the Advisor determines to be applicable to the Company.

   

  22.          The Investor agrees
      that, upon the request of the Company, it will immediately provide such information as the Company (or the
      Advisor and/or any of their respective Affiliates) requires to satisfy applicable anti-money laundering, counter-terrorist financing,
      prevention of proliferation financing and sanctions laws and regulations, including, without limitation, the Investor’s
      anti-money laundering, counter-terrorist financing, prevention of proliferation financing and sanctions-compliance policies and
      procedures, background documentation relating to its directors, trustees, settlors and beneficial owners, and audited financial
      statements, if any.

   

  23.          This Subscription
      Agreement is not transferable or assignable by the Investor.

   

  24.          Unless the Investor
      indicates otherwise in the Investor Data Sheet, neither the Investor nor any Affiliate of the Investor is
      (a) a “bank holding company” as that term is defined in Section 2(a) of the BHC Act (as defined below) or otherwise
      subject to the regulation and supervision pursuant to the BHC Act, or (b) a “banking entity” as defined in subsection
      1851(h)(1) of the Volcker Rule, 12 U.S.C. § 1851. For purposes of this representation and warranty, “BHC Act”
      shall mean the U.S. Bank Holding Company Act of 1956, as amended from time to time or any successor statute thereto, and shall
      include the rules, regulations and interpretations issued by the U.S. Federal Reserve Board. For the avoidance of doubt, a Non-U.S.
      Bank organized and operating solely outside of the U.S., with no insured depository institution subsidiary or affiliate or commercial
      lending subsidiary, branch or agency located in the U.S., is not subject to the Volcker Rule.

   

  25.          The Investor shall
      not take any action to present a petition or application or commence any case, proceeding, proposal or other
      action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization,
      arrangement in the nature of insolvency proceedings, adjustment, winding up, liquidation, dissolution, composition or analogous
      relief with respect to the Company or the debts of the Company.

   

  26.          The Investor
      represents that no beneficial owner of the Investor holds their interest in the Investor in the form of bearer shares,
      bearer share warrants or equivalent instruments.

   

  27.          The Investor agrees
      that the representations, warranties and background information (including anti-money laundering, counter-terrorist
      financing, prevention of proliferation financing and sanctions-compliance information) made or provided herein or pursuant to
      this Subscription Agreement shall be deemed to be reaffirmed by the Investor at any time the Investor purchases or otherwise acquires
      an additional Interest (or makes a Capital Contribution to the Company) and such purchase or acquisition (or Capital Contribution)
      shall be evidence of such reaffirmation, and if any of such representations or warranties made, or background information provided,
      ceases to be true, the Investor shall promptly notify the Advisor of the facts pertaining to such changed circumstances.

   

  
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  28.          If the Investor is a
      “charitable remainder trust” within the meaning of Section 664 of the Code, the Investor has
      advised the Advisor in writing of such fact on or prior to the date hereof and the Investor acknowledges that it understands the
      risks, including specifically the tax risks, if any, associated with its investment in the Company.

   

  B.           Representations and
        Warranties of the Company and the Advisor. The Company and the Advisor hereby represent and warrant
      to the Investor that:

   

  1.            The Company is duly
      organized and validly existing as a limited liability company under the laws of the State of Delaware and
      has all requisite power and authority to carry on its business as now conducted and as proposed to be conducted as described in
      the Fund Documents. The Advisor is duly organized and validly existing as a limited partnership under the laws of the State of
      Delaware and has all requisite power and authority to act as the Advisor of the Company and to carry out the terms of this Subscription
      Agreement and the LLC Agreement.

   

  2.            The execution and
      delivery of this Subscription Agreement has been authorized by all necessary action on behalf of the Company,
      and does not and shall not result in a breach of any of the terms, conditions or provisions of, or constitute a default under,
      any provision of any limited liability company agreement, partnership agreement, charter, by-laws, trust agreement, indenture,
      mortgage, deed of trust, credit, note or evidence of indebtedness, or any lease or other agreement, or any license, permit, franchise
      or certificate, regulation, law, order, writ, injunction, order or decree to which the Company is subject, and this Subscription
      Agreement is a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms,
      except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
      the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings
      in equity or at law).

   

  3.            Neither the Company
      nor anyone acting on its behalf has taken or shall take any action that would subject the issuance and sale
      of the Investor’s Interest to the registration requirements of the Securities Act or any state securities laws.

   

  4.            Assuming the
      accuracy of the representations and warranties of the Members, the Company is not required to register as an “investment
      company” under the Investment Company Act.

   

  III.              
      UNDERSTANDINGS

   

  The
      Investor hereby understands, acknowledges and agrees with the Company and the Advisor as follows:

   

  1.            The Investor agrees
      to provide promptly such information and execute and deliver such documents as may be necessary to comply
      with any and all laws and regulations to which the Company or any of its Affiliates may be subject, including information relevant
      to a determination of whether the Investor: (a) is not a U.S. person (as defined in Regulation S promulgated under the Securities
      Act); and (b) is a “Non-United States person” (as defined in Rule 4.7 of the U.S. Commodity Exchange Act of 1936,
      as amended from time to time (the “CEA”)).

   

  2.            The Interest has not
      been approved, disapproved or recommended by the SEC or by any other U.S. federal, state or non-U.S. securities
      commission or regulatory authority, and none of the foregoing authorities has confirmed the accuracy or determined the adequacy
      of the Fund Documents or the offering of the Investor’s Interest. Any representation to the contrary is a criminal offense.

   

  
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  3.            The Investor’s
      Interest is a speculative investment and involves a high degree of risk. There is no public market for the
      Investor’s Interest, and no such public or other market is expected to develop. The transferability of the Investor’s
      Interest is substantially restricted both by the terms of the LLC Agreement and applicable law. The Investor has no right to require
      its Interest or other interests in the Company to be registered under the Securities Act. The Investor shall not be able
      to receive the benefit of the provisions of Rule 144 or 144A adopted by the SEC under the Securities Act with respect
      to the resale of its Interest. Accordingly, it may not be possible for the Investor to liquidate its investment in the Company.

   

  4.            In making an
      investment decision, the Investor must rely on its own examination of the Fund Documents and the terms of the offering,
      including the merits and risks involved.

   

  5.            The Investor
      acknowledges that pursuant to the LLC Agreement, each Protected Person is entitled to be indemnified out of the assets
      of the Fund against any and all Liabilities, except with respect to any Liability for which such Protected Person is not entitled
      to indemnification as expressly set forth in the LLC Agreement.

   

  6.            If any provision of
      this Subscription Agreement is invalid or unenforceable under any applicable law, then such provision shall
      be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such applicable
      law. Any provision hereof which may be held invalid or unenforceable under any applicable law shall not affect the validity or
      enforceability of any other provisions hereof, and to this extent the provisions hereof, shall be severable.

   

  7.            The Investor
      understands and agrees that in order to ensure compliance under applicable anti-money laundering, counter-terrorist
      financing, prevention of proliferation financing and sanctions laws and regulations, the Advisor may require a detailed verification
      of the identity, beneficial ownership and source of funds of a Person acquiring the Interest and the source of its investment
      funds, and the Advisor reserves the right to request such information as is necessary to verify the foregoing. In the event of
      delay or failure by the Investor to produce any information required for verification or other anti-money laundering, counter-terrorist
      financing, prevention of proliferation financing or sanctions-compliance purposes, the Advisor and/or its Affiliates may refuse
      to accept the Investor’s subscription until proper information has been provided and, if the Investor’s subscription
      has already been accepted, may refuse to pay any monies which may otherwise be payable by the Company to the Investor until proper
      information has been provided.

   

  8.            The Investor
      covenants and agrees that it shall provide the Advisor, at any time during the term of the Company, with such information
      as the Advisor and/or its respective Affiliates determine to be necessary or appropriate to (a) verify compliance with the
      anti-money laundering, counter-terrorist financing, prevention of proliferation financing and sanctions laws and regulations of
      any applicable jurisdiction or (b) respond to requests for information concerning the identity, beneficial ownership and source
      of funds of the Investor from any Governmental Authority, self-regulatory organization or financial institution in connection
      with the Company’s, the Advisor’s and their respective Affiliates’ anti-money laundering, counter-terrorist
      financing, prevention of proliferation financing and sanctions compliance procedures. In the event of delay or failure by the
      Investor to produce any such information, the Advisor may refuse to pay any monies which may otherwise be payable by the Company
      to the Investor until proper information has been provided.

   

  9.            The Investor
      understands and agrees that if any of the representations and warranties set forth in Section II.(A)(15), (16), (17),
      (18) or (19) ceases to be true or if the Company no longer reasonably believes that it has satisfactory evidence as to their truth,
      notwithstanding any other agreement to the contrary, the Company may be obligated to freeze the Investor’s investment, which
      may include prohibiting Capital Contributions and/or distributions, segregating the assets constituting the Investor’s investment
      in accordance with applicable regulations and/or the immediate involuntary withdrawal of the Investor’s investment in the
      Company, and the Company may also be required to, or consider it advisable to, report any prohibited transaction and remedial
      action and to disclose the Investor’s identity to OFAC or other applicable governmental or regulatory authorities. If the
      Advisor is required (or considers it advisable) to take any of the foregoing actions, the Investor understands and agrees that
      it shall have no claim against any Protected Person for any form of damages as a result of any of the foregoing actions.

   

  
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  10.          The Investor
      acknowledges, agrees and understands that, pursuant to the rules of the Financial Industry Regulatory Authority,
      Inc. (“FINRA”), the Advisor may restrict the participation of certain Members that are proscribed from participating
      in the purchase of “new issues,” as such term is defined by the rules of FINRA, due to the status of such Members
      as “restricted persons” under FINRA’s “new issues” rules and may request additional information
      be provided from the Investor in this regard in order to make such determination.

   

  11.          The Investor hereby
      acknowledges that under current law if it does not, or is unable to, furnish an executed IRS Form W-9 (with
      certification under penalties of perjury) and if the Company is treated as engaged in any trade or business within the United
      States for purposes of Section 864 of the Code, the amount realized (or deemed realized) upon any transfer (or deemed transfer)
      of the Investor’s Interest may be subject to U.S. federal withholding at the rate of 10%.

   

  12.          The Investor
      acknowledges and agrees that, if the Investor is a “disregarded entity” within the meaning of U.S. Treasury
      Regulation Section 301.7701-2(c) or a grantor trust, then the person treated for U.S. federal income tax purposes as the owner
      of its Interest is subject to the transfer restrictions with respect to any indirect transfer of its Interest, as set forth in
      the Form 10, the LLC Agreement and this Subscription Agreement, as if it had owned the Investor’s Interest directly. For
      these purposes, without limitation to the foregoing, (a) a transfer by the person treated for U.S. federal income tax purposes
      as the owner of the Investor’s Interest and (b) a change in the U.S. federal tax status of any person, which is treated
      as a transfer for U.S. federal income tax purposes of the assets of the Investor, are transfers of the Investor’s Interest
      that are subject to the restrictions on transfers of the Investor’s Interest and are prohibited, except as set forth in
      the LLC Agreement and this Subscription Agreement.

   

  IV.               
      GRANT OF POWER OF ATTORNEY

   

  1.            The Investor hereby
      constitutes and appoints the Advisor irrevocably as its true and lawful agent and attorney-in-fact, in its
      name, place and stead (a) to execute and deliver the LLC Agreement on the Investor’s behalf on the Closing Date applicable
      to the Investor, and (b) to make, execute, sign and file any statement in respect of an amendment or termination of the Company’s
      registered particulars set out therein as required by law, and all such other instruments, documents and certificates as may from
      time to time be required by the laws of the United States of America, the State of Delaware, the State of New York or any other
      state or other relevant jurisdiction in which the Company shall determine to conduct activities or to do business, or any political
      subdivision or agency thereof, to effectuate, implement, continue or terminate the valid existence of the Company.

   

  2.            The foregoing grant
      of authority is a special power of attorney coupled with an interest in favor of the Advisor and as such shall
      (a) survive the dissolution, termination or bankruptcy of the Investor or the transfer of all or any portion of the Investor’s
      Interest and (b) extend to the Investor’s successors, assigns and legal representatives.

   

  V.                 
      INDEMNIFICATION

   

  1.            Except to the extent
      prohibited by applicable law, the Investor shall indemnify and hold harmless the Protected Persons from and
      against any and all Liabilities based upon, resulting from or otherwise in respect of (a) any actual or alleged misrepresentation
      or misstatement of facts, or omission to represent or state facts, by or on behalf of the Investor concerning the Investor, the
      Investor’s suitability or authority to invest or the Investor’s financial position in connection with the offering
      and sale of the Investor’s Interest, including, without limitation, any such misrepresentation, misstatement or omission
      contained in or accompanying the Investor Questionnaire, the Investor Data Sheet or the Anti-Money Laundering Questionnaire submitted
      by or on behalf of the Investor and forming a part of this Subscription Agreement, (b) any action, suit or proceeding instituted
      by or on behalf of the Investor which is not resolved by final judgment against such Protected Persons or (c) the breach
      of any of the Investor’s representations, warranties, covenants or agreements set forth in this Subscription Agreement.
      The Investor shall promptly reimburse (and/or advance to) each Protected Person attorneys’ fees and other fees, costs and
      expenses (as incurred) in connection with investigating, preparing to defend or defending any claim, lawsuit, action or other
      proceeding relating to any Liabilities for which such Protected Person may be indemnified pursuant to this Section V. The Investor’s
      obligation, if any, to indemnify, reimburse and/or advance expenses to any Protected Person pursuant to this Section V is intended
      to be primary to any such obligation of the Company and any applicable insurance policy. Notwithstanding anything to the contrary
      in this Subscription Agreement, the Company may in the discretion of the Advisor pay any obligations or liabilities arising out
      of this Section V as a secondary indemnitor at any time prior to the Investor making any payments the Investor owes; it being
      understood, that any such payment by the Company shall not constitute a waiver of any right of contribution or subrogation to
      which the Company is entitled (including against any primary indemnitor) or relieve any other indemnitor, including the Investor,
      from any indemnity obligations.

   

  
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  2.            The reimbursement
      and indemnity obligations of the Investor under this Section V shall survive the Closing Date applicable
      to the Investor and shall be in addition to any liability that the Investor may otherwise have (including, without limitation,
      liabilities under the Fund Documents) and shall be binding upon and inure to the benefit of any successors, assigns, heirs or
      legal representatives of any Protected Persons.

   

  VI.         CONFIDENTIALITY

   

  1.            The Investor
      acknowledges and agrees that it has read and agrees to the confidentiality provisions in the LLC Agreement, that
      such provision applies to any and all Confidential Information and that the Company, the Advisor and/or any of their respective
      Representatives may disclose Confidential Information as set forth in the LLC Agreement. For the purposes of this paragraph, “Confidential
        Information” shall mean any information related to the activities and assets of the Company, the Advisor and their respective
      Affiliates or any Issuer that the Investor may acquire from the Company, the Advisor or their respective Affiliates, any Issuer
      or any other Member, other than information that: (a) is already available through publicly available sources of information
      (other than as a result of disclosure by the Investor); (b) was available to the Investor on a non-confidential basis prior
      to its disclosure to the Investor by the Company; or (c) becomes available to the Investor on a non-confidential basis from a
      third party; provided, that such third party is not known by the Investor (or could not have been known after reasonable
      inquiry by the Investor) to be bound by this Section VI or another applicable confidentiality agreement. Such Confidential Information
      may include, without limitation, information that pertains or relates to (i) the offering of Interests (including the
      Fund Documents), (ii) the business and affairs of any other Member, (iii) any Investments or proposed Investments or (iv) any
      other Company matters.

   

  2.            If the Investor or
      any Representative of the Investor is required to disclose any of the Confidential Information, the Investor
      shall provide the Company with prompt prior written notice so that the Company or any Issuer may seek a protective order or other
      appropriate remedy and/or waive compliance with the provisions of this Subscription Agreement, and the Investor shall cooperate
      with the Company, the Advisor or any Issuer in any effort any such Person undertakes to obtain a protective order or other remedy.
      If such protective order or other remedy is not obtained, or the Company waives compliance with the provisions of this Section VI,
      the Investor and its Representatives shall furnish only that portion of the Confidential Information that is required and shall
      use its best efforts to obtain reliable assurance that the Confidential Information shall be accorded confidential treatment.

   

  
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  3.            The Advisor may
      agree to waive, in its discretion, any or all of the provisions of this Section VI, with respect to the Investor.

   

  4.            The Investor
      acknowledges and agrees that money damages would not be a sufficient remedy for a breach of this Section VI
      and that the Company, the Advisor and/or their respective Affiliates shall be entitled to specific performance and injunctive
      or other equitable relief as a remedy for any such breach, in addition to all other remedies available at law or in equity. No
      failure or delay by the Company, the Advisor and/or their respective Affiliates in exercising any right, power or privilege hereunder
      shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof
      or the exercise of any right, power or privilege hereunder.

   

  5.            Without limitation
      to the foregoing and the LLC Agreement, the Investor acknowledges and agrees that (a) the information provided
      in this Subscription Agreement may be disclosed by the Company, the Advisor and/or any of their respective Representatives to
      auditors, counsel, regulators and/or other third parties that provide services to the Company, the Advisor and/or any of their
      respective Representatives and that such disclosure may require the transmission of confidential information relating to the Investor
      across international borders and (b) the Company, the Advisor and/or any of their respective Representatives may also disclose
      the identity of the Investor to the extent determined to advance or protect the interests of the Company (including to facilitate
      an Investment); provided, that, notwithstanding the foregoing, any disclosure of Personal Information (as defined
      in the Privacy Notice, set forth in Part 5 of this Subscription Booklet) shall be permitted only pursuant to and
      subject to the Privacy Notice.

   

  VII.     ADDITIONAL
        INFORMATION AND SUBSEQUENT CHANGES

      IN THE FOREGOING REPRESENTATIONS

   

  1.            The Company may
      request from the Investor such additional information as it may deem necessary to evaluate the eligibility of
      the Investor to acquire the Interest, and may request from time to time such information as the Company may deem necessary to
      determine the eligibility of the Investor to hold the Interest or to enable the Company to determine its compliance with applicable
      regulatory requirements or tax status, including anti-money laundering, counter-terrorist financing, prevention of proliferation
      financing and sanctions laws and regulations, and the Investor shall provide such information as may reasonably be requested.

   

  2.            The Investor
      acknowledges and agrees that it must provide the information and representations, warranties and covenants contained
      in this Subscription Agreement both at the time of subscription and at all times thereafter until the Investor ceases to be a
      Member. Accordingly, the Investor agrees to notify the Advisor promptly if there is any change with respect to any of the information
      or representations, warranties and covenants provided by the Investor in or pursuant to this Subscription Agreement, and to provide
      the Advisor with such further information as the Company, the Advisor or any of their respective Affiliates may reasonably require.
      In addition, the Investor agrees to provide such information and to execute and deliver such documents as the Company or the Advisor
      may deem reasonably necessary to comply with any and all laws and ordinances to which the Company or the Advisor is or may be
      subject.

   

  VIII.     MISCELLANEOUS

   

  1.            This Subscription
      Agreement shall be enforced, governed by and construed in all respects in accordance with the internal laws
      of the State of New York applicable to agreements made and to be wholly performed in such State, without regard to the conflict
      of laws principles thereof that would apply the laws of another jurisdiction.

   

  
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  2.            Any
      action, proceeding or claim relating in any way to, arising out of or concerning this Subscription Agreement shall be brought
      and maintained exclusively in the U.S. federal courts located in New York County, and each party irrevocably consents to the jurisdiction
      of such courts to the broadest extent possible for any such action, proceeding or claim and waives any objection to proceeding
      there that such party might have on the basis of inconvenient forum, improper venue or otherwise; provided, that,
      if the U.S. federal courts located in New York County would not have or are found not to have subject matter jurisdiction over
      any action, proceeding or claim relating in any way to, arising out of or concerning this Subscription Agreement, such action,
      proceeding or claim shall be brought and maintained only in the courts of the State of Delaware, and each party irrevocably consents
      to the jurisdiction of such courts to the broadest extent possible for any such action, proceeding or claim and waives any objection
      to proceeding there that such party might have on the basis of inconvenient forum, improper venue or otherwise. To the extent
      not prohibited by applicable law that cannot be waived, each party waives, and covenants that such party shall not assert (whether
      as plaintiff, defendant or otherwise), any right to trial by jury in any forum in respect of any judicial action or proceeding
      arising out of this Subscription Agreement or the subject matter hereof or in any way connected with the dealings of any party
      hereto or any of its Affiliates in connection with any representation, warranty, covenant or agreement contained in this Subscription
      Agreement or any transaction contemplated by this Subscription Agreement, in each case, whether now existing or hereafter arising
      and whether in contract, tort or otherwise. Any party hereto may file an original counterpart or a copy of this Section VIII.2
      with any court in any jurisdiction as written evidence of the consent of the parties to the waiver of their respective rights
      to trial by jury.

   

  3.            Failure of the
      Company and/or the Advisor to exercise any right or remedy under this Subscription Agreement or any other agreement
      between the Company and/or the Advisor and the Investor, or otherwise, or delay by the Company and/or the Advisor in exercising
      such right or remedy, shall not operate as a waiver thereof. No waiver by the Company or the Advisor shall be effective unless
      and until it is in writing and signed by the Company or the Advisor, respectively.

   

  4.            This Subscription
      Agreement and other agreements, documents or Parts referred to herein (including, without limitation, the Investor
      Questionnaire, the Investor Data Sheet and the Anti-Money Laundering Questionnaire) or in the other Fund Documents contain the
      entire agreement of the parties. There are no representations, covenants or other agreements except as stated or referred to herein
      and in such other agreements or documents.

   

  5.            The headings, titles
      and subtitles used herein are for convenience only, do not constitute a part of this Subscription Agreement
      and shall not be deemed to limit, characterize or interpret any provisions of this Subscription Agreement. As used herein, all
      pronouns shall include the masculine, feminine, neuter, singular and plural thereof wherever the context and facts require such
      construction.

   

  6.            Neither this
      Subscription Agreement nor any provisions hereof shall be waived, modified, discharged or terminated except by an
      instrument in writing signed by the party against whom any waiver, modification, discharge or termination is sought.

   

  7.            Except as otherwise
      provided herein, this Subscription Agreement shall be binding upon and inure to the benefit of the parties
      and their successors and permitted assigns. If the Investor is more than one Person, the obligations of the Investor shall be
      joint and several, and the representations, covenants, agreements and acknowledgments contained herein shall be deemed to be made
      by and be binding upon each such Person and its successors and permitted assigns.

   

  8.            Any Protected Person
      not being a party to this Subscription Agreement may (to the extent determined by the Advisor in its discretion)
      enforce any rights granted to it pursuant to this Subscription Agreement in its own right as if it were a party to this Subscription
      Agreement.

   

  

  9.            The Investor
      acknowledges and agrees that (a) information relating to its investment in the Company may be received and transmitted
      via the Internet or electronic mail to the email address provided by the Investor in the Investor Data Sheet under the headings
      “Primary Correspondence Contact” and/or “Additional Correspondence Contact(s)” or via other electronic
      means and (b) none of the Advisor, the Company nor any of their respective Affiliates provides any assurance that these communication
      methods are secure. Without limiting the foregoing, the Investor hereby agrees that if the documents relating to the offering
      of the Interest (including, without limitation, the Fund Documents) have been transmitted to the Investor via the Internet, electronic
      mail or other electronic means, the Investor is receiving or accessing documents only in the U.S. state or other jurisdiction
      identified by the Investor in the Investor Data Sheet under the heading “Principal Place of Business or Address of Investor”.

   

  
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  10.          This Subscription
      Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which
      together shall constitute one instrument. Any such counterpart, to the extent delivered by means of a facsimile machine or by
      .pdf, .tif, .gif, .jpg or similar attachment to electronic mail, shall be treated in all manners and respects as an original executed
      counterpart.

   

  11.          The words “executed,”
      “signed,” “signature,” and words of like import in this Subscription
      Agreement shall, to the fullest extent permitted by law, be deemed to include electronic signatures or the keeping of records
      in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature
      or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
      including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and
      Records Act, the Delaware Uniform Electronic Transactions Act or any other similar state laws based on the Uniform Electronic
      Transactions Act and the Electronic Transactions Act (as amended) of the Cayman Islands.

   

  12.          The Investor
      acknowledges and agrees that any notations, alterations, strike-outs, addenda, inserts or verbiage purporting to
      amend the terms of this Subscription Agreement shall not be effective unless explicitly agreed to by the Advisor in writing. 
      For the avoidance of doubt, the issuance of a trade confirmation or contract note shall not be construed as the Advisor’s
      acceptance or agreement to any such purported amendments absent the explicit written agreement of the Advisor.

   

  IX.        SIGNATURE

   

  By
      executing the signature page to this Subscription Agreement, the Investor agrees to be bound by the foregoing and the other Fund
      Documents.

   

  [REMAINDER
      OF PAGE LEFT BLANK INTENTIONALLY]

   

  
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  PART
      2

   

  
     

    
      

    

  

   

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  INVESTOR
          QUESTIONNAIRE

   

  	A.	ERISA QUESTIONS

   

  	1.	The Investor is using or will use to purchase or hold the Interest funds that are assets of (a) an employee benefit plan subject to Part 4 of
            Title I of ERISA, (b) a plan to which Section 4975 of the Code applies, including (if the Investor is a natural person) an individual retirement account, or (c) an entity whose underlying assets include the assets of any such employee benefit
            plan or plan by reason of an investment in such entity by any such employee benefit plan or plan (the persons or entities described in clauses (a), (b) and (c) being referred to herein as “Benefit Plan Investors”).

   

  ☐ Yes                    ☐ No

   

  	2.	If the answer to Question 1 is “Yes” and the Investor is an entity described in clause (c) of Question 1 above, such as an insurance company
            purchasing the Interest from funds of its general account, the proportion of the Investor’s investment in the Company representing the assets of “Benefit Plan Investors” from the date hereof through and including the date on which the Investor
            disposes of the Interest will not exceed the following percentage.

   

  ____%

   

  The
      Investor agrees to promptly notify the Advisor in writing if there is any change in the percentage set forth above and at such
      other times as the Advisor may request. The Investor acknowledges that the investor may be required to withdraw all or any portion
      of its investment in the Company should there be any increase in the percentage set forth above.

   

  	3.	The Investor is either (a) a Person (other than a Benefit Plan Investor) that has discretionary authority or control with respect to the
            assets of the Company (as opposed to the assets of the Investor) or that provides investment advice for a fee (direct or indirect) with respect to the assets of the Company (as opposed to the assets of the Investor), or (b) an “affiliate” (as
            defined in 29 C.F.R. Section 2510.3-101(f)(3)) of any such Person described in clause (a) of this Question 3.

   

  ☐
      Yes                    ☐ No

   

  	4.	The Investor is a governmental pension plan, a non-electing church plan, a non–U.S pension plan, or any other employee benefit plan,
            arrangement, or account that is subject to Similar Laws.

   

  ☐
      Yes                    ☐ No

   

  
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  	B.	INVESTOR ACCREDITATION QUESTIONS

   

  Please
      indicate the basis of the Investor’s status as an “accredited investor” (as defined in Regulation D promulgated
      under the Securities Act).

   

  Please
        proceed to “Section C. Qualified Purchaser Questions” as soon as any one of the following boxes is checked.

   

  	1.	The Investor is a natural person and:

   

  		a.	Had an individual annual income8 in each of the two most recent years in excess of $200,000, and reasonably expects to
            have an individual annual income in the current year in excess of $200,000.

   

  ☐

   

  		b.	Had, together with the Investor’s spouse, or spousal equivalent,9 joint annual income in excess of $300,000 in each of the
            two most recent years, and reasonably expects their joint annual income in the current year to exceed $300,000.

   

  ☐

   

  		c.	Has an individual net worth or joint net worth with the Investor’s spouse or spousal equivalent in excess of $1,000,000 (for this purpose,
            excluding the value of the primary residence of the Investor or the Investor’s spouse or spousal equivalent).10

   

  ☐

   

  		d.	Holds in good standing a General Securities Representative license (Series 7), an Investment Adviser Representative license (Series 65), or a
            Private Securities Offerings Representative license (Series 82), in each case, as administered by the Financial Industry Regulatory Authority.

   

  ☐

   

  
  
     

  

  
  

  

  	8	For purposes of this Investor Questionnaire, a person’s income is the amount of such person’s individual adjusted gross income (as reported on
            a federal income tax return) increased by:

  

  a.
      any deduction for depletion of natural resources (Section 611 and others of the Code); 

  b.
      any municipal bond interest (Section 103 of the Code); and 

  c.
      any losses or deductions allocated to such person as a limited partner in a partnership.

   

  	9	A “spousal equivalent” means a cohabitant occupying a relationship generally equivalent to that of a spouse.

   

  	10	Indebtedness secured by the primary residence up to the estimated fair market value of the primary residence is not included as a liability in
            the calculation of the Investor’s individual net worth or joint net worth, unless any incremental borrowing is incurred in the 60 days before the date this Subscription Agreement is accepted and is not in connection with the acquisition of the
            primary residence, in which case, the incremental borrowing is included as a liability in such calculation. Indebtedness secured by the primary residence in excess of the estimated fair market value of the primary residence is to be included as
            a liability and deducted from the Investor’s individual net worth or joint net worth. For purposes of calculating joint net worth, joint net worth can be the aggregate net worth of the investor and spouse or spousal equivalent, and assets need
            not be held jointly to be included in the calculation. Reliance on the joint net worth standard does not require that the securities be purchased jointly.

   

  
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  	2.	The Investor is an entity — i.e., a corporation, partnership, limited liability company or other entity (other than a trust) — and:

   

  		a.	The Investor is a corporation, partnership, limited liability company, a Massachusetts or similar business trust, or an organization described
            in Section 501(c)(3) of the Code, in each case not formed for the specific purpose of acquiring the Interest and with total assets in excess of $5,000,000.

   

  ☐

   

  		b.	The Investor is one of the following institutional investors as described in Rule 501(a) adopted by the SEC under the Securities Act:

   

  A
      “bank” (as defined in Section 3(a)(2) of the Securities Act) or a “savings and loan association or
      similar institution” (as defined in Section 3(a)(5)(A) of the Securities Act), whether acting in its individual
      or fiduciary capacity.

   

  ☐

   

  A
      broker or dealer registered pursuant to Section 15 of the Exchange Act.

   

  ☐

   

  An
      investment adviser registered under Section 203 of the Investment Advisers Act or under the laws of any state.

   

  ☐

   

  An
      exempt reporting adviser relying on an exemption from registration with the SEC under Section 203(l) or Section 203(m) of the
      Investment Advisers Act.

   

  ☐

   

  An
      “insurance company” (as defined in Section 2(13) of the Securities Act).

   

  ☐

   

  An
      investment company registered under the Investment Company Act or a “business development company” (as defined in
      Section 2(a)(48) of the Investment Company Act).

   

  ☐

   

  A
      Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small
      Business Investment Act of 1958, as amended.

   

  ☐

   

  A
      “rural business investment company” (as defined in Section 384A of the Consolidated Farm and Rural Development Act).

   

  ☐

   

   

  
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  A
      “private business development company” (as defined in Section 202(a)(22) of the Investment Advisers Act).

   

  ☐

   

  An
      employee benefit plan within the meaning of Title I of ERISA, and either (i) the investment decision to purchase the
      Interest was made by a “plan fiduciary” (as defined in Section 3(21) of ERISA), which is either a bank, savings
      and loan association, insurance company or registered investment adviser, or (ii) such plan has total assets in excess of
      $5,000,000, or (iii) such plan is a self-directed plan with investment decisions made solely by persons, each of whom individually
      satisfies the accredited investor standards for natural persons set forth in Question 1 above. NOTE: To the extent that reliance
        is placed on sub-clause (iii), each person must complete and submit to the Company a copy of this “Section B. Investor Accreditation
        Questions” along with an original executed signature page. If necessary, please request additional copies of the Subscription
        Booklet from the Company.

   

  ☐

   

  A
      plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
      subdivisions, for the benefit of its employees with total assets in excess of $5,000,000.

   

  ☐

   

  	3.	The Investor is a trust and:

   

  		a.	The trustee of the trust is a “bank” as defined in Section 3(a)(2) of the Securities Act or a savings and loan association or other
            institution referred to in Section 3(a)(5)(A) of the Securities Act.

   

  ☐

   

  		b.	The trust has total assets in excess of $5,000,000 and was not formed for the specific purpose of acquiring the Interest, and the purchase of
            the Interest is being directed by a person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the purchase of the Interest.

   

  ☐

   

  		c.	Each grantor of the trust has the power to revoke the trust and regain title to the trust assets, and each such grantor satisfies the
            accredited investor standards for natural persons set forth in Question 1 above. NOTE: If the Investor checks this box 3c, each grantor must complete and submit to the Company a copy of this “Section B. Investor Accreditation Questions”
              along with an original executed signature page. If necessary, please request additional copies of the Subscription Booklet from the Company. 

   

  ☐

   

  	4.	The Investor is an entity of a type not listed in Questions 2 or 3 above, not formed for the specific purpose of acquiring the Interests and
            with total “investments” (as defined in Rule 2a51-1(b) under the Investment Company Act) in excess of $5,000,000.

   

  ☐

   

  
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  	5.	The Investor is a “family office” (as defined in Rule 202(a)(11)(G)-1 under the Investment Advisers Act) (i) with assets under management in
            excess of $5,000,000, (ii) that is not formed for the specific purpose of acquiring the securities offered, and (iii) whose prospective investment is directed by a person who has such knowledge and experience in financial and business matters
            that such family office is capable of evaluating the merits and risks of the prospective investment, or a “family client” (as defined in Rule 202(a)(11)(G)-1 under the Investment Advisers Act) of such family office and whose prospective
            investment in the Company is directed by such family office. 

   

  ☐

   

  	6.	An entity in which each shareholder, partner, member or other equity owner of the Investor, as the case may be, satisfies the accredited
            investor standards set forth in Questions 1 through 5 above.11

   

  		☐	

   

  If
        the Investor checks this box 6, each equity owner of the Investor’s securities must complete and submit to the Company a
        copy of this “Section B. Investor Accreditation Questions” along with an original executed signature page. If necessary,
        please request additional copies of this Subscription Booklet from the Company.

   

  	7.	Check the box next to this Question 7 if none of the statements in Questions 1 through 6 of this “Section B. Investor Accreditation Questions”
            are applicable to the Investor.

   

  ☐

   

  	C.	TYPE OF INVESTOR

   

  Please
      indicate which one of the following categories applies to the Investor:

   

  	(a)	Individuals that are United States persons12 (including their trusts)	☐
	 	 	 
	(b)	Individuals that are not United States persons (including their trusts)	☐
	 	 	 
	(c)	Broker-dealers  	☐ 
	 	 	 
	(d)	Insurance companies  	☐ 
	 	 	 
	(e)	Investment companies registered with the Securities and Exchange Commission  	☐ 
	 	 	 
	 	Fund of funds  	☐ 
	 	 	 
	 	Other investment companies registered with the Securities and Exchange Commission  	☐

  

  

  

  

   

  

  
  
     

  

  
  

  	11	In determining the accredited investor status of entities for purposes of this Question 6, the Investor is permitted to look through various
            forms of equity ownership to natural persons. If those natural persons are themselves accredited investors, and if all other equity owners of the Investor are accredited investors, then the Investor may check the box next to Question 6 as an
            indication of the basis of the Investor’s status as an accredited investor.

   

  	12	As defined in Rule 203(m)-1 under the Investment Advisers Act, which includes any natural person that is resident in the United States.

   

  
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  	(f)	Private funds13	☐
	 	 	 
	 	Fund of funds  	☐
	 	 	 
	 	Other private funds	☐
	 	 	 
	(g)	Non-profits  	☐
	 	 	 
	(h)	Pension plans (excluding governmental pension plans) 	☐
	 	 	 
	(i)	Banking or thrift institutions (proprietary)  	☐
	 	 	 
	(j)	State or municipal government entities14 (excluding governmental pension plans)	☐
	 	 	 
	(k)	State or municipal governmental pension plans  	☐
	 	 	 
	(l)	Sovereign wealth funds and foreign official institutions  	☐
	 	 	 
	(m)	Investors that are not United States persons and about which the foregoing beneficial ownership information is
            not known and cannot reasonably be obtained because the beneficial interest is held through a chain involving one or more third-party beneficiaries 	☐
	 	 	 
	(n)	Other (please describe:_____________________________________________)	☐

  

   

  

  	D.	PUBLIC DISCLOSURE LAWS

   

  1.       Is
      the Investor subject to the U.S. Freedom of Information Act, 5 U.S.C. § 552 (“FOIA”), any state public
      records access laws, any state or other jurisdiction’s laws with similar intent or effect to the FOIA, or any other similar
      statutory or legal right that might result in the disclosure of confidential information relating to the Company?

   

  ☐ Yes                   ☐ No

   

  If
      Question 1 above was answered “Yes,” please indicate the relevant laws to which the Investor is subject and provide
      any additional explanatory information in the space below:

   

  

  
  
     

  

  
   

  

  
  
     

  

  
  

   

  
  
     

  

  
  

  	13	A “private fund” means any issuer that would be an investment company as defined in Section 3 of the Investment Company Act of 1940 but for
            Section 3(c)(1) or 3(c)(7) of that Act.

  

  	14	“Governmental entity” means any state or political subdivision of a state, including (i) any agency, authority, or instrumentality of the state
            or political subdivision; (ii) a plan or pool of assets controlled by the state or political subdivision or any agency, authority, or instrumentality thereof; and (iii) any officer, agent, or employee of the state or political subdivision or
            any agency, authority, or instrumentality thereof, acting in their official capacity.

   

  
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  	E.	PAY TO PLAY

   

  1.       If
      the Investor is an entity substantially owned by a government entity (e.g., a single investor vehicle) and the investment decisions
      of such entity are made or directed by such government entity, please provide the name of the government entity:15 ______________________.

   

  Please
          note that, if the Investor enters the name of a government entity in this Section F.1, the Company will treat the Investor as
          if it were the government entity for purposes of Rule 206(4)-5 (the “Pay to Play Rule”) promulgated under the Investment
          Advisers Act.

   

  2.       If
      the Investor is (a) a government entity, (b) acting as trustee, custodian or nominee for a beneficial owner that is a government
      entity, or (c) an entity described in Section F.1, the Investor hereby certifies that:

   

  Other
      than the Pay to Play Rule, no “pay to play” or other similar compliance obligations would be imposed on the Company,
      the Advisor or their respective Affiliates, employees or third-party placement agents (if any) in connection with the Investor’s
      subscription.

   

  Please
      check the box to indicate that the Investor is making such certification.           ☐

   

  If
          the Investor cannot make such certification, indicate in the space below all other “pay to play” laws, rules or guidelines,
          or lobbyist disclosure laws or rules, the Company, the Advisor or their respective Affiliates, employees or third-party placement
          agents (if any) would be subject to in connection with the Investor’s subscription:

   

  

  
  
     

  

  
   

  

  
  
     

  

  
  END
        OF INVESTOR QUESTIONNAIRE.

      PLEASE PROCEED TO THE “Investor Data Sheet” (Part 3)

   

  

  
  
     

  

  
  

  

  	15	“Government entity” for purposes of this “Section F. Pay to Play” means any State or political subdivision of a State, including: (i) any
            agency, authority, or instrumentality of the State or political subdivision; (ii) a pool of assets sponsored or established by the State or political subdivision or any agency, authority or instrumentality thereof, including, but not limited to
            a “defined benefit plan” as defined in section 414(j) of the Internal Revenue Code (26 U.S.C. 414(j)), or a State general fund; (iii) a plan or program of a government entity; and (iv) officers, agents, or employees of the State or political
            subdivision or any agency, authority or instrumentality thereof, acting in their official capacity.

   

  
    7

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  PART
      3

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  INVESTOR
          DATA SHEET

   

  		1.	The Investor:

   

  Full
        Name of Investor (no initials):  __________________________________________________________________________________________

   

  Social
        Security Number or Taxpayer Identification Number16 (please identify the document being referenced):  __________________________

    

   

  

  
  
     

  

  
   

  Principal
        Place of Business or Address of Investor:  

   

  	 	(Street Address)	 
	 	 	 	 	 
	 	(Street Address)	 
	 	 	 	 	 
	(City)	 (State)	 	 (Post/Zip Code)	(Country)
	 	 	 	 	 
	(Telephone)	 	 	(Facsimile)	 

    

  		2.	In providing the following contact information, please freely indicate where information requested is identical to information previously
            supplied.

   

  SEND
          CORRESPONDENCE TO: 

   

  

  	Primary Correspondence Contact:	 	Additional Correspondence Contact(s):
	 	 	 	 	 
	(Name)	 	 	(Name)	 
	 	 	 	 	 
	(Company)	 	 	(Company)	 
	 	 	 	 	 
	(Street Address)	 	 	(Street Address)	 
	 	 	 	 	 
	(City)	(State)       (Post/Zip Code)	 	(City)	(State)       (Post/Zip Code)
	 	 	 	 	 
	(Telephone)	 	 	(Telephone)	 
	 	 	 	 	 
	(Facsimile)	 	 	(Facsimile)	 
	 	 	 	 	 
	(Email Address)	 	 	(Email Address)	 
	 	 	 	 	 

   

  
  
     

  

  
  

  		16	If the Investor is investing as a joint tenant or tenant in common, please provide the applicable information for each joint tenant or tenant
            in common. If the Investor is a grantor of a “grantor trust,” or a “grantor trust” with multiple grantors, please provide the applicable information for each grantor.

   

  
    1

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  SEND
          CAPITAL CALL NOTICES TO:

   

  

  	Primary Capital Call Contact:	 	 	Additional Capital Call Contact(s):	 
	 	 	 	 	 
	(Name)	 	 	(Name)	 
	 	 	 	 	 
	(Company)	 	 	(Company)	 
	 	 	 	 	 
	(Street Address)	 	 	(Street Address)	 
	 	 	 	 	 
	(City)	(State)       (Post/Zip Code)	 	(City)	(State)       (Post/Zip Code)
	 	 	 	 	 
	(Telephone)	 	 	(Telephone)	 
	 	 	 	 	 
	(Facsimile)	 	 	(Facsimile)	 
	 	 	 	 	 
	(E-mail Address)	 	 	(E-mail Address)	 
	 	 	 	 	 

  SEND
          DISTRIBUTIONS TO:

   

  Wiring Instructions:    

   

  	 	Name of Bank	 
	 	 	 
	 	Address of Bank	 
	 	 	 
	 	ABA Number	 
	 	 	 
	 	Account Number	 
	 	 	 
	 	Name Under Which Account Is Held	

   

  
    2

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  	3.	Form of ownership of the Interest (individuals must check one):

  

  	 	☐	 Individual	 	☐ 	Joint Tenants with right of survivorship (each must sign and complete the appropriate IRS Form)	 	☐ 	Tenants-in-Common (each individual must sign and complete the appropriate IRS Form)	 

   

  		Form
            of ownership of the Interest (entities must check one):

   

  

  	 	☐ Corporation	 	 	☐   Partnership	 	 	☐   Limited Liability Company	 
	 	☐ Trust	 	 	☐   Foundation	 	 	☐   Endowment 	 
	 	☐ Employee Benefit Plan	 	 	☐   Keogh Plan	 	 	☐   Individual Retirement Account
	 	☐ Governmental Plan	 	 	☐   Other:______________	 	 	 	 

   

  Additional
        questions for entities only:

   

  State
      or other jurisdiction in which incorporated or formed: ___________________________________________________________________________

   

  Date
      of incorporation or formation: _______________________________________________________________________________________________

   

  	
          Is
              the Investor an investment fund registered as an investment company under the Investment Company Act (a “Registered Fund”),
              or an affiliate of a Registered Fund, or a Person controlling, controlled by or under common control with a Registered Fund? 

        	☐ Yes	☐ No
	 	 	 
	
          Is
              the Investor a “broker-dealer” (as defined under the Securities Act)? 

        	☐ Yes	☐ No
	 	 	 
	
          Is
              the Investor an associated person, affiliate or employee (or an immediate family member of an employee) of a broker-dealer? 

        	☐ Yes	☐ No
	 	 	 
	
          If
              Yes, please state the name of the broker-dealer: 

        	
          

           

        
	 	 
	
          Is
              the Investor a registered representative of a broker-dealer?

        	
          ☐Yes 

        	
          ☐
              No 

        
	 	 	 
	If Yes, please state the name of the broker-dealer:	
          

           

        

   

  
    3

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  Additional
        questions for individuals only:

   

  Indicate
      the current occupation and employer of the Investor, any for-profit boards of directors on which the Investor sits, and any corporate
      officer positions the Investor holds:

   

  

  
  
     

  

  
  

   

  Indicate
      the type of entity of such employer (e.g., public/private company, alternative investment fund, broker/dealer, investment adviser,
      other financial services firm or other business):

   

  

  
  
     

  

  
  

   

  (Please
        update employment information as and when it may change. In addition, the Investor may be contacted by the Advisor at a later
        date to provide additional information regarding its employment. Investors who are employed by the Advisor or an Affiliate of
        the Advisor need not complete these additional questions.)

   

  
    4

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  PART
      4

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  SIGNATURE
        PAGE

   

  This
      page constitutes the signature page for the Subscription Agreement, which includes, without limitation, the power of attorney
      contained therein, the Investor Questionnaire, the Investor Data Sheet and the Anti-Money Laundering Questionnaire, and evidences
      your agreement to be bound by the terms and conditions of the Fund Documents and permits the Advisor to execute the LLC Agreement
      as your attorney-in-fact. The parties hereto have executed this Subscription Agreement on the date written below, with effect
      as of the date accepted and agreed by the Advisor. 

  	 	 	 	 
	$_____________________________________________________	 	________________________________________, _____	 
	Amount of Capital Commitment 	 	Date 	 
	 	 	 	 

  

  	INDIVIDUALS	 	ENTITIES	 
	 	 	 	 	 
	 	 	 	 	 
	
          Signature of Investor

        	 	
          

          Name
              of Entity

              (Please type or print)

        	 
	 	 	 	 	 
	 	 	By:	 	 
	Full Name of Investor

            (Please type or print)	 	 	Signature	 
	 	 	 	 	 
	

            Full Name of Spouse if Co-Owner

            (Please type or print)	 	

            Name of Authorized Signatory

            (Please type or print)	 
	 	 	 	 	 
	Signature of Spouse if Co-Owner	 	Title of Authorized Signatory

          (Please type or print)	 

   

  [Signature Page to the Subscription
      Agreement of OHA Senior Private Lending Fund (U) LLC]

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  ADDITIONAL GENERAL PARTNER SIGNATURE
      PAGE

   

  ACCEPTED
      AND AGREED

      this _____ day of _____________, ____.  

   

  INVESTOR
      NAME: _______________________________  

   

  AS
      TO A CAPITAL COMMITMENT OF $ _____________________  

   

  REMAINING
      AMOUNT OF CAPITAL COMMITMENT THAT CAN BE 

      ACCEPTED AS OF A SUBSEQUENT CLOSING DATE: 

      $_____________________    

   

  OHA SENIOR PRIVATE LENDING FUND
        (U) LLC

   

  	By:	
           

        	 
	 	Name:	 Gerard Waldt	 
	 	Title: 	Chief Financial Officer	 

   

  OHA
        PRIVATE CREDIT ADVISORS II, L.P.

   

  	By:	Oak Hill Advisors, L.P., its general partner

   

  

  	By:	
           

        	 
	 	Name:	 Gregory S. Rubin	 
	 	Title: 	Vice President and Secretary	 

  

   

  

  [Signature Page to the Subscription
      Agreement of OHA Senior Private Lending Fund (U) LLC]

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  ADDITIONAL
      GENERAL PARTNER SIGNATURE PAGE

   

  

  ACCEPTED AND AGREED

    this _____ day of _____________, ____.

   

  INVESTOR NAME: _______________________________

   

  AS TO A CAPITAL COMMITMENT
    OF $ _____________________

   

  REMAINING AMOUNT OF CAPITAL COMMITMENT THAT CAN BE ACCEPTED AS OF A SUBSEQUENT CLOSING DATE: $_____________________

   

  

  OHA SENIOR PRIVATE LENDING FUND
        (U) LLC

   

  	By:	
           

        	 
	 	Name:	 Gerard Waldt	 
	 	Title: 	Chief Financial Officer	 

   

  OHA
        PRIVATE CREDIT ADVISORS II, L.P.

   

  	By:	Oak Hill Advisors, L.P., its general partner

   

  

  	By:	
           

        	 
	 	Name: 	Gregory S. Rubin	 
	 	Title: 	Vice President and Secretary	 

  

   

  

  [Signature Page to the Subscription
      Agreement of OHA Senior Private Lending Fund (U) LLC]

  

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  PART
      5

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  Privacy
          Notice

   

  COMMITMENT
        TO PRIVACY

   

  This
      Privacy Notice is provided by OHA Private Credit Advisors II, L.P. and its affiliated entities listed at the end of this Privacy
      Notice (collectively, the “Firm” or “we”). The Firm is committed to handling “non-public
      personal information” and “personal data” relating to its natural person clients and investors, and natural
      persons affiliated with its corporate clients and investors, responsibly and in accordance with applicable laws, rules and regulations.

   

  Technology
      has dramatically changed the way information of all kinds is gathered, used and stored, but the importance of preserving the security
      and confidentiality of information has remained a core value of the Firm. The Firm recognizes and respects the privacy expectations
      of its clients, investors and their affiliated individuals. Confidentiality and protection of non-public personal
        information and personal data are among its fundamental responsibilities. The Firm adheres to the policies and practices described
        in this Privacy Notice regardless of whether a client or investor is a current or former client
        or investor.

   

  This
    Privacy Notice is
        current as of the date hereof, but as circumstances or requirements change, the Firm may need to amend this Privacy Notice.
      The Firm will notify its then-current clients and investors of any material amendment.

   

  WHAT
        WE NEED YOU TO DO

   

  Please
        provide this Privacy Notice to any natural persons whose Personal Information (as defined below) may be provided to the Firm.
        In addition, to the extent the Firm is provided with sensitive non-public personal information (as defined below), we recommend
        it is encrypted before being sent.

   

  KEY
        CONCEPTS

   

  In
      this Privacy Notice, “Relevant Individual”
        means any natural person client or investor, or any natural person affiliated with a client or investor (such as an employee,
      director, officer, partner, member, shareholder, beneficial owner, affiliate, agent or representative),
        who provides “non-public personal information” or “personal data” to the Firm. Such information may be
        provided through subscription agreements, investor questionnaires, investment advisory agreements, account applications,
      other forms or agreements and correspondence (written, telephonic or electronic).

   

  “Personal
        data” is certain information relating to an identified or identifiable natural person (as further defined in the EU
      or UK General Data Protection Regulation (Regulation (EU) 2016/679) and any relevant transposition of, or successor or replacement
      to, that regulation (together, the “European Data Protection Legislation”), in the Cayman Islands Data Protection
      Act and related regulations, and any successor or replacement to such law or regulations (together, the “Cayman Data
        Protection Legislation”)) and other applicable laws and regulations relating to privacy, data protection, breach notification,
      or the processing of personal information (collectively “Applicable Privacy Laws”). This Privacy Notice contains
      the information required to be disclosed under Applicable Privacy Laws. For purposes of the Cayman Islands Data Protection Act,
      the Fund is the data controller. “Non-public personal information” is any personally
        identifiable, financial information relating to natural persons that is not publicly available. We refer in this Privacy
      Notice to “personal data” and “non-public personal information” together
        as “Personal Information”.

   

  PERSONAL
        INFORMATION COLLECTED

   

  The
      Firm may collect and process some or all of the following categories of Personal Information:

   

  		■	contact information;

   

  
    1

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  

  		■	full name, residential address and date of birth;

   

  		■	information about a Relevant Individual’s interests in funds (such as account balances and percentage interests);

   

  		■	other financial information (e.g., assets, net worth, income, investments, beneficial interests, investment history, bank account
            details and other personal financial data);

   

  		■	employment information; and

   

  		■	government-issued identification details (e.g., social security number), passport, utility bills and other background or identity
            information.

   

  Where
      the client or investor is an individual, the Firm will usually collect this information directly from the individual. Where the
      client or investor is a corporate entity, the Firm will usually collect the information from the client or investor or their professional
      advisors. In some cases, the Firm may receive the information from a third party, such as a background check provider.

   

  USES
        OF PERSONAL INFORMATION

   

  The
      Firm will use Personal Information for some or all of the following purposes:

   

  		■	on the basis of its legitimate interests in managing its relationship with the client or investor;

   

  		■	on the basis of its legitimate interests in managing its business operations and information technology resources (for example, managing
            internal directories and client relationship management systems);

   

  		■	on the basis of its legitimate interests in protecting the Firm, its employees, clients, investors, trading partners and others;

   

  		■	to address legal requirements (including laws designed to protect the integrity of the financial sector, which require measures such as
            anti-money laundering, counter-terrorist financing, prevention of proliferation financing and sanctions screening checks and the recording of calls and emails); and

   

  		■	for Firm-related informational or marketing communications, where appropriate and permitted by applicable law, as part of the Firm’s
            legitimate business interest.

   

  From
      time to time, the Firm may also use a Relevant Individual’s Personal Information in other situations, such as with the Relevant
      Individual’s consent.

   

  Where
      the Firm requests Personal Information in connection with entering into an investment relationship or during the course of that
      relationship, unless it notes otherwise when making the request: (i) provision of the Personal Information is mandatory and in
      most cases is necessary for the Firm to meet statutory or regulatory obligations, and (ii) failure to provide the information
      may result in denial of the opportunity to enter into, or remain in, the investment relationship. Please contact the Firm with
      any questions about whether the provision of any particular Personal Information is required in any particular case.

   

  DISCLOSURES
        OF PERSONAL INFORMATION

   

  For
      the purposes described in the previous section, where permitted by applicable law, the Firm may share Personal Information in
      some or all of the following ways:

   

  
    2

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  

  		■	with the client or investor;

   

  		■	within the Firm;

   

  		■	with other entities that assist the Firm in carrying out the activities described above, including professional advisors, technology
            providers, auditors, administrators, registrars, depositaries and other service providers;

   

  		■	with regulatory bodies and governmental authorities;

   

  		■	with other participants in certain transactions with the Firm (for example, to assist a third party in discharging their legal obligations in
            respect of, for example, anti-money laundering legislation and to honor their legal right to obtain a recording of certain regulated calls or a copy of certain regulated electronic communications between the Firm and that third party);

   

  		■	with other third parties (such as litigants, or an acquirer or others connected with an acquisition or similar transaction involving the
            Firm); and

   

  		■	with agents, delegates, or related, associated or affiliated entities of the foregoing.

   

  From
      time to time, the Firm may also share a Relevant Individual’s Personal Information in other situations, such as at the Relevant
      Individual’s request.

   

  Personal
      Information may be transferred to countries that may not have the same or equivalent data protection laws as those of the Relevant
      Individual’s home country. For example, the Personal Information may be transferred among the Firm’s offices in the
      United States, the United Kingdom, Luxembourg, Australia or Hong Kong, as well as to any other countries where the recipients
      of the transfers described above are located. Where required, the Firm makes such transfers in compliance with the Applicable
      Privacy Laws, such as through the use of model contractual clauses (as published by the European Commission).

   

  SECURITY
        OF PERSONAL INFORMATION

   

  The
      Firm restricts access to Personal Information to those of its employees, partners, officers, consultants, advisors and service
      providers who reasonably need to know that information to provide products or services to the relevant client or investor or as
      otherwise required by law. The Firm maintains physical, electronic, and procedural safeguards that comply with applicable laws,
      rules and regulations to guard Personal Information. The specific security measures the Firm uses in a particular context depend
      on that context, but the Firm draws from measures such as access controls, malware defenses, encryption, facility security, and
      various monitoring strategies. The Firm also maintains incident response procedures.

   

  RETENTION
        OF PERSONAL INFORMATION

   

  The
      Firm may retain Personal Information for so long as necessary for the purposes described above, unless a longer retention period
      is required or permitted by applicable law. To provide security and business continuity for the activities described in this Privacy
      Notice, the Firm may make backups of certain data, which it may retain for longer than the original data.

   

  RIGHTS
        AND CHOICES

   

  Where
      the European Data Protection Legislation or the Cayman Data Protection Legislation applies, Relevant Individuals may have the
      right to:

   

  		■	In certain cases, object to the Firm’s processing of their Personal Information.

   

  
    3

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  

  		■	Request access to their Personal Information (commonly known as a “data subject access request”). This enables the Relevant Individual to
            receive a copy of the Personal Information the Firm holds about them as well as certain details about its processing to be able to check that the Firm is processing it lawfully.

   

  		■	Request correction of the Personal Information that the Firm holds about them. This enables Relevant Individuals to have any incomplete or
            inaccurate information the Firm holds about them corrected.

   

  		■	Request erasure of their Personal Information. This enables Relevant Individuals to ask the Firm to delete or remove Personal Information if
            the Firm does not need to continue to process it. Relevant Individuals also have the right to ask the Firm to delete or remove their Personal Information where they have exercised their right to object to processing (see above).

   

  		■	Request the restriction of processing of their Personal Information. This enables Relevant Individuals to ask the Firm to suspend the
            processing of their Personal Information, if, for example, the Relevant Individual wants the Firm to establish its accuracy or the reason for processing it.

   

  		■	Request to receive a copy of their Personal Information in a machine-readable, commonly used and structured format, or to have it transmitted
            in such format to a third party.

   

  These
      rights may apply under other Applicable Privacy Laws as well. If a Relevant Individual wishes to exercise any of these rights,
      they should contact the Firm using the contact details below. The various rights are not absolute and each is subject to certain
      exceptions, qualifications and conditions. For example, if a Relevant Individual wishes to object to processing, the Firm may
      need to discuss with the Relevant Individual whether its use of their Personal Information needs to continue for other lawful
      purposes, such as fulfilment of a legal or contractual requirement.

   

  The
      Firm will respond to a Relevant Individual’s request within the legally mandated deadline for a response. In some cases,
      the Firm may not be able to fulfill the request to exercise the right by this date and may need more time. Where the Firm cannot
      provide a full response to the Relevant Individual for any reason, the Firm will let the Relevant Individual know about this in
      its initial reply to the request.

   

  Where
      these rights apply, a Relevant Individual will not normally have to pay a fee to access their Personal Information (or to exercise
      any of the other rights described above). In some cases, the Firm may charge a reasonable fee if the request for access is unfounded
      or excessive, or if the Relevant Individual requests multiple copies of the information. Alternatively, the Firm may refuse to
      comply with the request in such circumstances. The Firm may need to request specific information from the Relevant Individual
      to confirm their identity and ensure their right to access the Personal Information (or to exercise any of their other rights).

   

  If
      Relevant Individuals have any questions, concerns or complaints relating to the Firm’s handling of their Personal Information,
      they should contact the Firm as described below. Relevant Individuals may also contact the relevant governmental authority (e.g.,
      the Cayman Islands Ombudsman, for Cayman Islands funds, or the UK Information Commissioner’s Office, for UK individuals)
      with a complaint related to the Firm’s handling of their Personal Information. However, the Firm invites Relevant Individuals
      to allow the Firm to try to resolve the situation directly. Privacy is important to the Firm, and the Firm will do its best to
      address any concerns.

   

  
    4

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  

  CONTACTING
        THE FIRM

   

  To
      exercise any rights under this Privacy Notice or applicable law (including to request further information on the mechanisms the
      Firm has put in place in relation to Personal Information transfers outside the Cayman Islands, the European Union and/or the
      UK), to notify the Firm of your preferences, or to provide the Firm with complaints, concerns or questions, please contact the
      Firm via oakhilladvisorsupdate@oakhilladvisors.com, as well as, if your notice relates
      to your rights under the European Data Protection Legislation, via GDPR@oakhilladvisors.com.

   

  Oak
        Hill Advisors entities: 

  Oak
      Hill Advisors (Europe), LLP 

  OHA
      (UK) LLP 

  Oak
      Hill Advisors (U.K. Services) Limited 

  OHA
      Services Sarl 

  Oak
      Hill Advisors (Hong Kong) Ltd. 

  Oak
      Hill Advisors (Australia) Pty. Ltd. 

  OHA
      Strategic Credit III GenPar, LLP 

  OHA
      Strategic Credit Fund III, L.P. 

  OHA
      Strategic Credit Master Fund III, L.P. 

   

  
    5

    
      

    

  

   

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        CONFIDENTIAL & TRADE SECRET

   

  PART
      6

   

  
     

    
      

    

  

   

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        CONFIDENTIAL & TRADE SECRET

   

  TAX
        FORMS

   

  The
      Investor is required to submit appropriate tax forms. If the Investor is two or more individuals that are purchasing the Interest
      as either joint tenants with right of survivorship or tenants-in-common, please note that each individual must sign and complete
      the appropriate IRS Form in accordance with its specific instructions.

   

  Please
          carefully review the instructions accompanying the IRS Form that the Investor is completing. The Advisor will not consider an
          IRS Form complete unless the Investor has submitted all statements, certifications or other documents required by the applicable
          IRS Form.

   

  Please
      note that the Investor may be required to provide updated tax forms (and certain other information from time-to-time, including,
      without limitation, revised forms that may be published after the date hereof pursuant to FATCA).

   

  The
      most current version of the IRS Form W-9 and its instructions are located at the website listed below.

   

  Form
        W-9 

  http://www.irs.gov/pub/irs-pdf/fw9.pdf

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  PART
      7

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  ANTI-MONEY
          LAUNDERING QUESTIONNAIRE

   

  In
      order for the Company, the Advisor and/or any of their respective Affiliates to comply with applicable anti-money laundering and
      counter-terrorist financing laws and regulations and applicable sanctions lists, please provide the information requested below:

   

  		1.	Investor Information:

   

  		(a)	Is the Investor a regulated financial institution? 

   

  ☐
      Yes                 ☐ No

   

  If
      the Investor answered “yes,” please provide the name of the Investor’s regulator, the Investor’s registration
      number and evidence of regulatory status:

   

  

  
  
     

  

  
  

  

   

  		(b)	If the Investor answered “Yes” to Question 1(a) above, is the regulator:

   

  		i.	based in a jurisdiction that is a member of the Financial Action Task Force on Money Laundering and is not being FATF monitored (a “FATF
              Member Jurisdiction”)?

   

  ☐
      Yes                 ☐ No

   

  		ii.	based in a jurisdiction that is a member of the Organization for Economic Cooperation and Development (an “OECD Jurisdiction”)?

   

  ☐
      Yes                 ☐ No

   

  		iii.	in a country assessed by the Company as having a low degree of risk of money laundering and terrorist financing in accordance with the Cayman
            Islands Anti-Money Laundering Regulations?

   

  ☐
      Yes                 ☐ No

   

  		(c)	If the Investor answered “No” to Question 1(a) above, please provide the name of the jurisdiction in which the Investor is based:

   

  

  
  
     

  

  
  

   

  		(d)	Is
            the Investor:

   

  		i.	based in a jurisdiction that is a FATF Member Jurisdiction?

   

  ☐
      Yes                 ☐ No

   

  		ii.	based in an OECD Jurisdiction?

   

  ☐
      Yes                 ☐ No

   

  
    1

    
      

    

  

   

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  		iii.	in a country assessed by the Company as having a low degree of risk of money laundering and terrorist financing in accordance with the Cayman
            Islands Anti-Money Laundering Regulations?

   

  ☐
      Yes                 ☐ No

   

  		(e)	Is the Investor a company quoted or listed on a stock exchange?

   

  ☐
      Yes                 ☐ No

   

  If
      the Investor answered “yes,” please provide the ticker (or other applicable reference number), the name of the stock
      exchange and the jurisdiction of the stock exchange:

   

  

  
  
     

  

  
  

   

   

  		(f)	Is the Investor a central or local government, statutory body or agency of government?

   

  ☐
      Yes                 ☐ No

   

  If
      the Investor answered “yes,” please provide the name of the home state authority and the nature of its relationship
      with the Investor:

   

  

  
  
     

  

  
  

   

   

  		(g)	Is the Investor a majority-owned subsidiary or pension scheme (or similar) of an entity that is one of the entity types listed above in
                Questions 1(a), 1(d) or 1(e)?

   

  ☐
      Yes                 ☐ No

   

  If
      the Investor answered “yes,” please provide further details:

   

  

  
  
     

  

  
  

   

   

  		(h)	Is the Investor a fund?

   

  ☐
      Yes                 ☐ No

   

  If
      the Investor answered “yes,” please provide the name of the fund manager, its regulated status and evidence of its
      regulated status:

   

   

   

  		2.	Bank Account Information:

   

  		(a)	Please list the bank name, account names and the country of the bank from which the Investor’s Capital Contributions to the Company are
            intended to be made.

   

   Bank
      Name:__________________________________________________________________________________________ 

   

  Account
      Name:________________________________________________________________________________________

   

  Country:_____________________________________________________________________________________________

   

  
    2

    
      

    

  

   

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        CONFIDENTIAL & TRADE SECRET

   

   

  		(b)	Do the Capital Contributions that the Investor plans to make to the Company come from bank accounts outside of the United States?

   

  ☐
      Yes                 ☐ No

   

  		(c)	If the answer is “yes” to Question 2(b) above, will all such bank accounts be located in a FATF Member Jurisdiction?

   

  ☐
      Yes                 ☐ No

   

  		3.	Identification Information:

   

  To
          be completed by natural persons:

   

  		(a)	Country
            of primary residence (domicile) of the Investor:

   

  

  
  
     

  

  
  

   

   

  		(b)	Date
            of birth of the Investor:

  

   

   

  
  
     

  

  
  

   

  		(c)	Current
            occupation and business affiliation(s) of the Investor:

   

  

  
  
     

  

  
    

  		(d)	Current
            residential address of the Investor:

   

  
  
     

  

  
  

   

   

  		(e)	Please describe the source of the Investor’s funds that will be used to make Capital Contributions to the Company.

   

  
  
     

  

  
   

  To
          be completed by entities:

   

  		(a)	State
            (if applicable) and country in which incorporated or formed:________________________________________________

   

  		(b)	Date
            of incorporation or formation:________________________________________________________________________

   

  		(c)	Entity
            registration number: ______________________________________________________________________________

   

  		(d)	Type
            of business of the Investor:__________________________________________________________________________

   

  		(e)	Address
            of the principal office/headquarters of the Investor:____________________________________________________

   

   

  
  
     

  

  
   

  		(f)	Please describe the source of the Investor’s funds that will be used to make Capital Contributions to the Company.

   

  

  
  
     

  

  
   

  
    3

    
      

    

  

   

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        CONFIDENTIAL & TRADE SECRET

   

   

  		4.	Identification Documentation:

   

  		(a)	For investors that are individuals: Please provide certified copies of (i) a passport with picture page or non-U.S. persons may also provide
            an alien identification card number, or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard; (ii) a recent utility bill (other than a mobile
            phone bill) or other reliable evidence verifying the investor’s current residential address; and (iii) a reference letter from a bank in a FATF Member Jurisdiction with which the individual has a current relationship and has maintained a
            relationship for at least two years.

   

  If
      the Investor cannot provide the bank reference letter in (iii) above, the Investor consents to the Company obtaining a copy of
      the Investor’s credit report by checking the following box:    ☐

   

  		(b)	For investors that are entities (other than trusts): Please provide (a) (i) a list of all individuals who exercise control over the management
            of the Investor, such as: executive officers (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating Officer), managing members, directors or general partners, or any other individual(s) who regularly perform(s) similar
            functions and (ii) for two persons (where two such persons exist) from the foregoing list, the information required in clauses (i) and (ii) of Question 4(a) above; and (b) certified copies of: (i) a certificate of incorporation,
            articles of association, partnership agreement, limited liability company agreement or other similar organizational document; (ii) a mandate authorizing the subscription (e.g., a certified resolution or an excerpt from the Investor’s
            constitutive documents evidencing its authority to invest in an entity such as the Company); and (iii) authorized signatories list with specimen signatures (including all actual signatories on submitted documents).

   

  		(c)	For investors that are trusts: Please provide (a) (i) a list of all individuals who exercise control over the management of the Investor (such
            as the directors of the trustee or any other individual(s) who regularly perform(s) similar functions), the settlor(s), the grantor(s), the protector(s) (if any), the enforcer(s) (if any) and the beneficiaries (if any); and (ii) for all
            persons on the foregoing list, the information required in clauses (i) and (ii) of Question 4(a) above; and (b) certified copies of (i) the trust deed or other organizational document of the trust (such document(s) showing the full name of the
            trust and the nature and purpose of the trust), (ii) if the trustee of the trust is an entity, a certificate of incorporation, partnership agreement, limited liability company agreement or other similar organizational document of the trustee,
            (iii) a mandate authorizing the subscription (e.g., a certified resolution or an excerpt from the Investor’s constitutive documents evidencing its authority to invest in an entity such as the Company); and (iv) authorized signatories list with
            specimen signatures (including all actual signatories on submitted documents).

   

  		(d)	For all other types of investors, please contact State Street Global Services | Transfer Agency at:

   

  nwalch@statestreet.com

  altopsta@statestreet.com

   

  		(e)	For an example of how to properly certify any of the foregoing identification documents, please refer to the “Sample Form of Certification”
            (included as Appendix A to this Part 7 of this Subscription Booklet).

   

  		5.	Intermediaries: If the Investor (a) is investing in the Company for the beneficial interest of other underlying investors, such as,
            without limitation, in its capacity as an introducing firm, an asset aggregator, a nominee, a trustee, an agent, a representative, a fund-of-funds, a swap counterparty, or any other pooled or intermediary investment vehicle, or (b) has
            otherwise entered into, or proposes to enter into, any agreement with another person or entity which provides such person or entity with a beneficial or economic interest in the Interest, then the Investor must, in addition to providing the
            information and documents required by Question 4 above and Question 6 below, complete the “Certification of Intermediaries” (included as Appendix B to this Part 7 of this Subscription Booklet).

   

  
    4

    
      

    

  

   

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        CONFIDENTIAL & TRADE SECRET

   

  

  		6.	Certification of Beneficial Owners:

   

  		(a)	Please complete the table below and provide the requested information as set out in the table:

   

  (i)       For
      investors that are entities (other than trusts or nominee/custodial accounts): for each individual, if any, who directly
      or indirectly, through any contractual arrangement, understanding, relationship or otherwise (I) owns 10% or more of the economic
      or beneficial interests of the Investor, (II) controls 10% or more of the voting rights attaching to the economic or beneficial
      interests of the Investor, or (III) controls the Investor or exercises ultimate control over the management of the Investor, and
      each entity who directly owns 10% or more of the economic or beneficial interests of the Investor.

   

  (ii)       For
      investors that are nominee/custodial accounts: for each individual, if any, who directly or indirectly, through any contractual
      arrangement, understanding, relationship or otherwise (I) owns 10% or more of the nominee’s or custodian’s investment
      in the Company, (II) controls 10% or more of the voting rights attaching to the nominee’s or custodian’s investment
      in the Company or (III) controls the nominee/custodian or exercises ultimate control over the management of the nominee/custodian,
      and each entity who directly owns 10% or more of the nominee’s or custodian’s investment in the Company.

   

  (iii)       For
      investors that are trusts: for each settlor, trustee, beneficiary (if the beneficiaries are not identifiable individuals, describe
      the class of persons in whose main interest the trust is set up) and any individual who has control over the trust (including
      the ability to dispose of, lend, advance, invest, pay or apply trust property; vary or terminate the trust; add or remove a person
      as beneficiary or to or from a class of beneficiaries; appoint or remove trustees or give another individual control over the
      trust; or can direct, withhold consent, or veto any of the foregoing powers).

   

  (iv)       If
      no individual or entity meets the foregoing definitions, please write “Not Applicable”.

   

  	Name	Date of Birth / Formation Date and State/Country in which Incorporated or Formed	Primary Residential Address / Principal Place of Business	% of Economic / Beneficial Interest	Identification Number17 (please identify the document being referenced)
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

   

  

  
  
     

  

  
  

  

  		17	For U.S. persons or entities, please provide (as applicable) a social security number or tax identification number. For non-U.S. persons or entities, please provide (as applicable) a
            passport number and country of issuance or a commercial registration number, tax registration number or similar registration number. In lieu of a passport number, non-U.S. persons may also provide an alien identification card number, or number
            and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard. Please identify the document being referenced.

   

  
    5

    
      

    

  

   

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        CONFIDENTIAL & TRADE SECRET

   

   

  (v)       Please
      also provide the identifying documents (in accordance with Question 4 above) for each individual identified above.

   

  (vi)       Please
      provide a document which explains your ownership / control structure. For example, structures charts, or organograms which set
      out both your internal control structure and your beneficial owners and percentages of such ownership, if available.

   

  		(b)	Please provide the following information for two individuals who exercise control over the management of the Investor, such as: an
            executive officer (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating Officer); managing member, director or general partner; or any other individual who regularly performs similar functions. (If appropriate, an individual
            already listed under Question 4 or Question 6(a) above may also be listed in this Question 6(b).) (If no individual or entity meets this definition, please write “Not Applicable”.)

   

  	Name and Title	Date of Birth	Primary
              Residential Address	Identification
              Number18 (please identify the document being referenced)
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

   

  		7.	Investor Representation: The Investor represents and warrants that the information provided in this Part 7 and the background
            documentation and information provided hereunder are true and correct in all respects as of the date hereof. In addition, the Investor agrees that the representations, warranties and background documentation and information made or provided
            herein or pursuant to this Part 7 shall be deemed to be reaffirmed by the Investor as of any time the Investor purchases or otherwise acquires an additional Interest (or makes a Capital Contribution to the Company) and such purchase or
            acquisition (or Capital Contribution) shall be evidence of such reaffirmation, and if any of such representations or warranties made, or background documentation or information provided, ceases to be true, the Investor shall promptly notify the
            Advisor of the facts pertaining to such changed circumstances.

   

  

  
  
     

  

  
  

  

  		18	For U.S. persons, please provide a social security number. For non-U.S. persons, please provide a passport number and country of issuance. In lieu of a passport number, non-U.S. persons
            may also provide an alien identification card number, or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard. Please identify the document
            being referenced.

   

  
    6

    
      

    

  

   

  IN
      WITNESS WHEREOF, the undersigned has executed this Anti-Money Laundering Questionnaire this       day
      of                       
      , 20       .

   

  

  	INDIVIDUALS	 	ENTITIES	 
	 	 	 	 	 
	 	 	 	 	 
	
          Signature 

        	 	
          

          Name
              of Entity

          

        	 
	 	 	(Please type or print)	 
	 	 	 	 	 
	 	 	By:	 	 
	Full Name of Investor

            (Please type or print)	 	 	
          Name:

          Title:

        	 

   

  [Signature
        Page to Anti-Money Laundering Questionnaire]

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

  APPENDIX
      A

   

  SAMPLE
          FORM OF CERTIFICATION

   

  Part
          1: Sample Form of Certification

   

  The
        second sentence can be removed if it is not a photo ID document:

   

  I
      hereby certify that this is a true copy of the original documentation, which I have seen. I further certify that the photograph
      in the identification document bears a true likeness to the individual named ____________________. This certification is
      made on this _____ day of ___________, 20__.

   

  	 	Signature
	 	 
	 	
          Full Name of Certifier

              (Please type or print) 

        
	 	 
	 	Title of Certifier
	 	 
	 	Name of Entity at which Certifier works
	 	 
	 	Address of Certifier
	 	 
		Phone Number of Certifier

   

  Part
          2: Approved Certifiers (who may sign as certifier):

   

  		●	Lawyer (for a corporate entity, this means an external lawyer)

   

  		●	Accountant (for a corporate entity, this means an external accountant)

   

  		●	Director, officer or manager of a regulated credit or financial institution

   

  		●	Notary Public, member of the judiciary (i.e., judge or other court officer)

   

  		●	Senior civil servant or an active police or custom’s officer

   

  		●	Officer of an embassy, consulate or high commission of the country of issue of the document

   

  Please
      note that an individual may not certify: (a) their own documents, or (b) documents or persons related to, living with, or in a
      relationship with them even if the individual falls within one of the “approved certifier” categories above.

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

  APPENDIX B

   

   

  CERTIFICATION
          OF INTERMEDIARIES

   

  TO
          BE COMPLETED ON THE LETTERHEAD OF THE INTERMEDIARY

   

  To:
      OHA Senior Private Lending Fund (U) LLC

   

  In
      connection with the purchase of a limited liability company interest (the “Interest”) in OHA Senior Private
      Lending Fund (U) LLC (the “Company”) by _____________________________ [Insert Investor’s Name]
      (the “Intermediary”) on behalf of third parties having a beneficial or economic interest in the Interest subscribed
      for by the Intermediary (the “Underlying Investors”), the Intermediary hereby agrees to the following. Capitalized
      terms used but not defined herein shall have the meanings set forth in Annex A to this Certification of Intermediaries.

   

  I.            General
          Provisions. The Intermediary represents, warrants and agrees that it:

   

  A.          has
      all requisite power and authority from the Underlying Investors to execute and perform the obligations under the Subscription
      Agreement (including, without limitation, the Parts referred to therein), by and between the Intermediary and the Company, dated
      as of ____________ __, 202_, and executed by the Intermediary (the “Subscription Agreement”);

   

  B.           has
      made the representations, warranties and covenants in the Subscription Agreement on behalf of itself and the Underlying Investors;

   

  C.           has
      carried out (and will continue to carry out) at least the investor identification procedures set forth in Section III below with
      respect to all Underlying Investors and the other anti-money laundering and counter-terrorist financing procedures discussed below
      (together, the “Anti-Money Laundering Procedures”); and

   

  D.           will,
      upon request, provide any information and/or documentation related to the Anti-Money Laundering Procedures performed with respect
      thereto, including, without limitation, an anti-money laundering certificate.

   

  II.           Provisions
          Relating to Intermediary’s Anti-Money Laundering Program.

   

  A.          The
      Intermediary represents and warrants that it has adopted and implemented anti-money laundering and counter-terrorist financing
      policies, procedures and controls that are reasonably designed to prevent money laundering, terrorist financing and other criminal
      activities.

   

  B.           The
      Intermediary will, upon request, provide the Company and Advisor with a copy of its anti-money laundering and counter-terrorist
      financing policies, procedures and controls, and will thereafter immediately provide the Company, any administrator of the Company
      and the Advisor with any material amendments thereto. The Intermediary represents and warrants that it strictly adheres to, and
      will at all times during its relationship with the Company strictly adhere to, its anti-money laundering and counter-terrorist
      financing policies, procedures and controls. The Intermediary agrees to provide such information and execute and deliver such
      documents as the Company, any administrator of the Company or the Advisor may deem reasonably necessary to comply with any and
      all laws and ordinances to which the Company, any administrator of the Company or the Advisor is or may be subject, or pursuant
      to any governmental or regulatory requests.

   

  III.
                Provisions Relating to Underlying Investors.

   

  A.           The
      Intermediary will, in accordance with its anti-money laundering and counter-terrorist financing policies, procedures and controls,
      verify the identities of, identify the source of funds of, understand the ownership and control structure of, and conduct due
      diligence (and, where appropriate, enhanced due diligence) and obtain a description of the funds that will be used to make capital
      contributions with regard to, any Underlying Investor and, where applicable, the principal beneficial owners on whose behalf an
      Underlying Investor is seeking to make an investment.

   

  
     

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

   

  B.           The
      Intermediary will obtain evidence of the identity of each Underlying Investor and, if applicable, the direct or indirect 10% or
      more economic/beneficial owners of any Underlying Investor or any person or entity on whose behalf the Underlying Investor is
      seeking to make an investment, maintain such evidence for at least six years from the date of an Underlying Investor’s complete
      sale of its indirect interest in the Interest, and agrees upon request to make such information available to the Company, any
      administrator of the Company or the Advisor and to provide a written certificate of a senior officer of the Underlying Investor
      with respect to the foregoing.

   

  C.           The
      Intermediary will take all reasonable steps to ensure that it does not make an investment, directly or indirectly, for or on behalf
      of :

   

   1.           a
      Foreign Shell Bank;

   

   2.           a
      person or entity with whom dealings are restricted or prohibited (whether because such person or entity is targeted on a sanctions
      list, is owned by, controlled by, or acting on behalf of a sanctioned person, or located or organized in a sanctioned jurisdiction
      or territory) under any of the following economic sanctions regimes:

   

   a.            the
      United States sanctions administered by the Department of Treasury, Office of Foreign Assets Control (“OFAC”),
      Department of Commerce, Bureau of Industry and Security, or Department of State;

   

   b.            the
      United Kingdom sanctions administered by Her Majesty’s Treasury;

   

   c.            the
      sanctions administered by the jurisdiction or jurisdictions of organization and operation of the Intermediary, or

   

   d.            such
      other jurisdictions as may be identified to the Intermediary by the Company, any administrator of the Company or the Advisor;
      or

   

  3.           a
      person or entity located, organized, or operating in a country or territory that is, or that itself is (a) designated as non-cooperative
      with international anti-money laundering principles or procedures by an intergovernmental group or organization, such as the Financial
      Action Task Force, of which each of the United States and the United Kingdom is a member, (b) the subject of an advisory issued
      by the Financial Crimes Enforcement Network of the U.S. Treasury Department, or (c) designated by the Secretary of the Treasury
      under Section 311 of the USA PATRIOT Act as warranting special measures due to money laundering concerns (any of (a), (b) or (c),
      a “Prohibited Investor”).

   

  D.           Prior
      to making an investment for or on behalf of a high-risk Underlying Investor, the Intermediary will conduct enhanced due diligence
      with regard to such high-risk Underlying Investor, as provided by the Intermediary’s anti-money laundering and counter-terrorist
      financing policies, procedures and controls, in addition to the Intermediary’s routine investor identification procedures,
      and reasonably confirm that such high-risk Underlying Investor is not violating applicable anti-money laundering and counter-terrorist
      financing laws and regulations.

   

  IV.       Provisions
          Relating to Suspicious Activity.

   

  A.
               The Intermediary represents and warrants that (a) it has taken reasonable steps to confirm
      whether any Underlying Investor (or any person or entity having a beneficial interest in the Underlying Investor) is, or has in
      the last 12 months been, a Senior Political Figure, or a member of a current Senior Political Figure’s Immediate Family
      or a Close Associate of a current Senior Political Figure and (b) to the extent the Intermediary confirms that an Underlying Investor
      (or any person or entity having a beneficial interest in the Underlying Investor) is, or has in the last 12 months been, a current
      Senior Political Figure, a member of a current Senior Political Figure’s Immediate Family or a Close Associate of a current
      Senior Political Figure, it has undertaken additional due diligence with respect to such Underlying Investor (and such person
      or entity having a beneficial interest in such Underlying Investor) to reasonably confirm that their direct or indirect beneficial
      interests in the Company do not violate any applicable anti-money laundering and counter-terrorist financing laws or regulations.

   

  
    B-2

    
      

    

  

   

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        CONFIDENTIAL & TRADE SECRET

   

  

  B.           The
      Intermediary will immediately notify the Company, any administrator of the Company and the Advisor if it knows, or has reason
      to suspect, that an existing or prospective Underlying Investor, or the principal beneficial owners on whose behalf an existing
      or prospective Underlying Investor has made or is seeking to make an investment, is a Prohibited Investor.

   

  C.           The
      Intermediary agrees immediately to notify the Company, any administrator of the Company and the Advisor if it becomes aware of
      any suspicious activity or pattern of activity or any activity that may require further review to determine whether the activity
      or pattern of activities is suspicious.

   

  IN
      WITNESS WHEREOF, the Intermediary has executed this Certification of Intermediaries as of the __ day of __________, 20__.

   

  

  	INDIVIDUALS	 	ENTITIES	 
	 	 	 	 	 
	 	 	 	 	 
	
          Signature 

        	 	
          

          Name
              of Entity

          

        	 
	 	 	(Please type or print)	 
	 	 	 	 	 
	 	 	By:	 	 
	Full Name of Investor

            (Please type or print)	 	 	
          Name:

          Title:

        	 

   

  
    B-3

    
      

    

  

   

  HIGHLY
        CONFIDENTIAL & TRADE SECRET

  ANNEX A

   

  ANNEX
          A TO CERTIFICATION OF INTERMEDIARIES

   

  DEFINITIONS

   

  “Close
        Associate” of a senior political figure is a person who is widely and publicly known to maintain an unusually close
      relationship with the senior political figure, and includes a person who is in a position to conduct substantial financial transactions
      on behalf of the senior political figure. A “close associate” also includes persons who are known to have joint beneficial
      ownership of legal entities or legal arrangements, or any other close business relations, with a senior political figure and natural
      persons who have sole beneficial ownership of a legal entity or legal arrangement that is known to have been set up for the de
      facto benefit of a senior political figure.

   

  “Foreign
        Bank” means an organization that (i) is organized under the laws of a foreign country, (ii) engages in the business
      of banking, (iii) is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or
      principal banking operations, (iv) receives deposits to a substantial extent in the regular course of its business, and (v) has
      the power to accept demand deposits, but does not include the U.S. branches or agencies of a foreign bank.

   

  “Foreign
        Shell Bank” means a Foreign Bank without a Physical Presence in any country, but does not include a Regulated Affiliate.

   

  “Immediate
        Family” includes the political figure’s parents, siblings, spouse (or person considered to be equivalent to a
      spouse), children (and their spouses or persons considered to be equivalent to a spouse) and in-laws.

   

  “Physical
        Presence” means a place of business that is maintained by a Foreign Bank and is located at a fixed address, other than
      solely a post office box or an electronic address, in a country in which the Foreign Bank is authorized to conduct banking activities,
      at which location the Foreign Bank (i) employs one or more individuals on a full-time basis, (ii) maintains operating records
      related to its banking activities, and (iii) is subject to inspection by the banking authority that licensed the Foreign Bank
      to conduct banking activities.

   

  “Regulated
        Affiliate” means a Foreign Shell Bank that (i) is an affiliate of a depository institution, credit union or Foreign
      Bank that maintains a Physical Presence in the United States or a foreign country, as applicable, and (ii) is subject to supervision
      by a banking authority in the country regulating such affiliated depository institution, credit union or Foreign Bank.

   

  “Senior
        Political Figure” is defined as a person who is or has been entrusted with a prominent public function in the executive
      (including regional governments in federalized systems and devolved administrations), legislative, administrative, foreign service
      (including ambassadors and charge d’affaires), military (including high-ranking officers in the armed forces) or judicial
      branches of a government (whether elected or not), a senior official of a major political party (being a political party that
      has some representation in a national or supranational parliament or similar legislative body), a senior executive of a government-owned
      corporation, members of courts of auditors or the board of a central bank. A “senior political figure” also includes
      the directors, deputy directors and members of the board or equivalent of international public organizations. In addition, a “senior
      political figure” includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior
      political figure.

   

  “USA
        Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
      Terrorism (USA PATRIOT) Act of 2001 (Pub. L. No. 107).

   

  B-4

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