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ctac:SeriesGMandatoryRedeemablePreferredSharesMember 2025-01-01 2025-06-30 0001725472 ctac:SeriesHMandatoryRedeemablePreferredSharesMember 2025-01-01 2025-06-30 iso4217:USD iso4217:USD shares 0001725472 --12-31 false N-CSRS Carlyle Tactical Private Credit Fund 2026-06-30 <div style="font-size:0pt;left:72pt;position:var(--position);width:462pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:183.75pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:77.25pt"></td><td style="padding:0;width:3pt"></td><td style="padding:0;width:63pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:56.25pt"></td><td style="padding:0;width:5.25pt"></td><td style="padding:0;width:66pt"></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:183.75pt"><div><div style="line-height:12pt;position:var(--position);top:1.59pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:12pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Senior Securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:51.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Class and Period Ended</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:12.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:6.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:11.52pt;position:var(--position);white-space:pre">Total Amount </span></div><div style="line-height:9pt;position:var(--position);top:15.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:14.63pt;position:var(--position);white-space:pre">Outstanding </span></div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:15.51pt;position:var(--position);white-space:pre">Exclusive of </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:20.89pt;position:var(--position);white-space:pre">Treasury </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:15.77pt;position:var(--position);white-space:pre">Securities</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:53.22pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre"> (1)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:12.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:63pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:21.26pt;position:var(--position);white-space:pre">Asset </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:63pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:13.27pt;position:var(--position);white-space:pre">Coverage </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:63pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:10.62pt;position:var(--position);white-space:pre">Per Unit </span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:45.57pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">(2)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:12.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:15.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:5.13pt;position:var(--position);white-space:pre">Involuntary </span></div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:5.38pt;position:var(--position);white-space:pre">Liquidating </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:7.42pt;position:var(--position);white-space:pre">Preference </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:7.25pt;position:var(--position);white-space:pre">Per Unit </span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:42.2pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">(3)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:12.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:66pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:17.02pt;position:var(--position);white-space:pre">Average </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:66pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:6.15pt;position:var(--position);white-space:pre">Market Value </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:66pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:12.12pt;position:var(--position);white-space:pre">Per Unit </span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:47.07pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">(4)</span></div></div></div></td></tr><tr style="height:5.25pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:69.75pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (Bank of America, N.A.)</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:84.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:84.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:37.13pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">300,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:84.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">6,619<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:84.75pt;width:56.25pt"><div><div style="line-height:10pt;position:var(--position);top:2.17pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.93pt;width:39.54pt"></span></span><span style="left:42.17pt;position:var(--position)">—<span style="display:inline-block;height:6.93pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:84.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:97.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:97.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">225,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:97.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">7,048<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:97.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:97.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (JPMorgan Chase Bank, National Association)</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:125.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:37.13pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">691,176<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:125.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">6,619<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:125.25pt;width:56.25pt"><div><div style="line-height:10pt;position:var(--position);top:3.67pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.93pt;width:39.54pt"></span></span><span style="left:42.17pt;position:var(--position)">—<span style="display:inline-block;height:6.93pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:125.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:139.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">695,159<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:139.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">7,048<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:139.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:139.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:153.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:153.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">564,069<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:153.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">9,015<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:153.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:153.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:168pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:168pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">326,492<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:168pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:34.51pt;position:var(--position)">10,439<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:168pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:168pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:182.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:182.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">315,344<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:182.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">6,420<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:182.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:182.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:196.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2021</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:196.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">274,771<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:196.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">4,206<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:196.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:196.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210.75pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (Société Générale / HSBC)</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:225.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2020</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:225.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">73,702<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:225.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">4,124<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:225.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:225.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2019</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:240pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:46.13pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">47,611<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:240pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">3,522<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:240pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:240pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:254.25pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (Société Générale)</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:269.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2018</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:269.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">30,600<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:269.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">3,809<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:269.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:269.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:283.5pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Mandatory Redeemable Preferred Shares*</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:298.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:298.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:30.38pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:298.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">78.44<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:298.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:24.79pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:298.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:312.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:312.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">950,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:312.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">88.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:312.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:312.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:327pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:327pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">650,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:327pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:34.51pt;position:var(--position)">106.23<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:327pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:327pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:341.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:341.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">400,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:341.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:34.51pt;position:var(--position)">117.29<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:341.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:341.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:355.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:355.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">300,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:355.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">82.25<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:355.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:355.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:369.75pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);white-space:pre">Note-on-Note Loan (Axos Bank)</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:132.27pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">+</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:384.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:384.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">27,686<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:384.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">7,048<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:384.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:384.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:399pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:399pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:46.13pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">15,399<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:399pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">9,015<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:399pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:399pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:503.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">*    There were no mandatory redeemable preferred shares outstanding as of December 31, 2021, December 31, 2020, December 31, 2019 and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2018.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:522.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">+  There were no note-on-note loans outstanding as of </span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:249.06pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:293.72pt;position:var(--position);text-decoration:none;white-space:pre">, December 31, 2023, December 31, 2022, December 31, 2021, December </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:531.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">31, 2020, December 31, 2019 and December 31, 2018.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:541.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(1) Total amount of each class of senior securities outstanding at principal value at the end of the period presented.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:551.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:560.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">liabilities and indebtedness not represented by senior securities, divided by total senior securities representing indebtedness as calculated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:570.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">separately for each of the Preferred Shares and the applicable borrowings in accordance with Section 18(h) of the Investment Company Act </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:579.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">of 1940. With respect to the Preferred Shares, the asset coverage per unit figure is expressed in terms of dollar amounts per share of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:589.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">outstanding Preferred Shares (based on a per share liquidation preference of $25). With respect to the credit facilities and note-on-note loans, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:599.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">the asset coverage ratio is multiplied by $1,000 to determine the “Asset Coverage Per Unit”. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:608.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:618.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">The “—” in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:627.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">securities.</span></div><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(4) Not applicable to senior securities outstanding as of period end.</span> <div style="font-size:0pt;left:72pt;position:var(--position);width:462pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:183.75pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:77.25pt"></td><td style="padding:0;width:3pt"></td><td style="padding:0;width:63pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:56.25pt"></td><td style="padding:0;width:5.25pt"></td><td style="padding:0;width:66pt"></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:183.75pt"><div><div style="line-height:12pt;position:var(--position);top:1.59pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:12pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Senior Securities</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:51.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:12.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Class and Period Ended</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:12.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:6.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:11.52pt;position:var(--position);white-space:pre">Total Amount </span></div><div style="line-height:9pt;position:var(--position);top:15.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:14.63pt;position:var(--position);white-space:pre">Outstanding </span></div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:15.51pt;position:var(--position);white-space:pre">Exclusive of </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:20.89pt;position:var(--position);white-space:pre">Treasury </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:77.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:15.77pt;position:var(--position);white-space:pre">Securities</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:53.22pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre"> (1)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:12.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:63pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:21.26pt;position:var(--position);white-space:pre">Asset </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:63pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:13.27pt;position:var(--position);white-space:pre">Coverage </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:63pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:10.62pt;position:var(--position);white-space:pre">Per Unit </span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:45.57pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">(2)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:12.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:15.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:5.13pt;position:var(--position);white-space:pre">Involuntary </span></div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:5.38pt;position:var(--position);white-space:pre">Liquidating </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:7.42pt;position:var(--position);white-space:pre">Preference </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:7.25pt;position:var(--position);white-space:pre">Per Unit </span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:42.2pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">(3)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:12.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:24.22pt;width:66pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:17.02pt;position:var(--position);white-space:pre">Average </span></div><div style="line-height:9pt;position:var(--position);top:33.22pt;width:66pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:6.15pt;position:var(--position);white-space:pre">Market Value </span></div><div style="line-height:9pt;position:var(--position);top:42.22pt;width:66pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:12.12pt;position:var(--position);white-space:pre">Per Unit </span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:47.07pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">(4)</span></div></div></div></td></tr><tr style="height:5.25pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:69.75pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (Bank of America, N.A.)</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:84.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:84.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:37.13pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">300,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:84.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">6,619<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:84.75pt;width:56.25pt"><div><div style="line-height:10pt;position:var(--position);top:2.17pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.93pt;width:39.54pt"></span></span><span style="left:42.17pt;position:var(--position)">—<span style="display:inline-block;height:6.93pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:84.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:97.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:97.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">225,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:97.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">7,048<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:97.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:97.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:110.25pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (JPMorgan Chase Bank, National Association)</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:125.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:125.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:37.13pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">691,176<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:125.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">6,619<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:125.25pt;width:56.25pt"><div><div style="line-height:10pt;position:var(--position);top:3.67pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.93pt;width:39.54pt"></span></span><span style="left:42.17pt;position:var(--position)">—<span style="display:inline-block;height:6.93pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:125.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:139.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:139.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">695,159<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:139.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">7,048<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:139.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:139.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:153.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:153.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">564,069<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:153.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">9,015<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:153.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:153.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:168pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:168pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">326,492<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:168pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:34.51pt;position:var(--position)">10,439<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:168pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:168pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:182.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:182.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">315,344<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:182.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">6,420<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:182.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:182.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:196.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2021</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:196.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">274,771<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:196.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">4,206<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:196.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:196.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:210.75pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (Société Générale / HSBC)</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:225.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2020</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:225.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">73,702<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:225.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">4,124<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:225.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:225.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:240pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2019</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:240pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:46.13pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">47,611<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:240pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">3,522<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:240pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:240pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:254.25pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Facility (Société Générale)</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:269.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2018</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:269.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">30,600<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:269.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">3,809<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:269.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:269.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:283.5pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Mandatory Redeemable Preferred Shares*</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:298.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:298.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:30.38pt"></span></span><span style="left:37.510000000000005pt;position:var(--position)">1,100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:298.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">78.44<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:298.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:24.79pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:298.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:312.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:312.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">950,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:312.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">88.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:312.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:312.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:327pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:327pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">650,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:327pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:34.51pt;position:var(--position)">106.23<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:327pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:327pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:341.25pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2023</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:341.25pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">400,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:341.25pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:34.51pt;position:var(--position)">117.29<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:341.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:341.25pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:355.5pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2022</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:355.5pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:44.260000000000005pt;position:var(--position)">300,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:355.5pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">82.25<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:355.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.29pt"></span></span><span style="left:31.919999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:355.5pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:15pt"><td colspan="9" style="background-color:#CCEEFF;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:369.75pt;width:462pt"><div><div style="line-height:9pt;position:var(--position);top:4.05pt;width:462pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.63pt;position:var(--position);white-space:pre">Note-on-Note Loan (Axos Bank)</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:132.27pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">+</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:384.75pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.6pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2025</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:384.75pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:41.63pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">27,686<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:384.75pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.88pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">7,048<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:384.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:384.75pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:399pt;width:183.75pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:183.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2024</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:187.5pt;position:var(--position);top:399pt;width:77.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:77.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:46.13pt"></span></span><span style="left:48.760000000000005pt;position:var(--position)">15,399<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:267.75pt;position:var(--position);top:399pt;width:63pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:63pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:36.38pt"></span></span><span style="left:39.010000000000005pt;position:var(--position)">9,015<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:334.5pt;position:var(--position);top:399pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:40.54pt"></span></span><span style="left:43.17pt;position:var(--position)">—<span style="display:inline-block;height:6.24pt;width:3.33pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:396pt;position:var(--position);top:399pt;width:66pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:47.89pt;position:var(--position);text-decoration:none;white-space:pre">N/A</span></div></div></div></td></tr></tbody></table></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:503.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">*    There were no mandatory redeemable preferred shares outstanding as of December 31, 2021, December 31, 2020, December 31, 2019 and </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2018.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:522.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">+  There were no note-on-note loans outstanding as of </span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:249.06pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:293.72pt;position:var(--position);text-decoration:none;white-space:pre">, December 31, 2023, December 31, 2022, December 31, 2021, December </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:531.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">31, 2020, December 31, 2019 and December 31, 2018.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:541.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(1) Total amount of each class of senior securities outstanding at principal value at the end of the period presented.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:551.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:560.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">liabilities and indebtedness not represented by senior securities, divided by total senior securities representing indebtedness as calculated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:570.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">separately for each of the Preferred Shares and the applicable borrowings in accordance with Section 18(h) of the Investment Company Act </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:579.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">of 1940. With respect to the Preferred Shares, the asset coverage per unit figure is expressed in terms of dollar amounts per share of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:589.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">outstanding Preferred Shares (based on a per share liquidation preference of $25). With respect to the credit facilities and note-on-note loans, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:599.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">the asset coverage ratio is multiplied by $1,000 to determine the “Asset Coverage Per Unit”. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:608.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:618.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">The “—” in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:627.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">securities.</span></div><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(4) Not applicable to senior securities outstanding as of period end.</span> 300000 6619 691176 6619 564069 9015 326492 10439 315344 6420 274771 4206 73702 4124 47611 3522 30600 3809 1100000 78.44 25.00 650000 106.23 25.00 400000 117.29 25.00 300000 82.25 25.00 27686 7048 15399 9015 <span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">*    There were no mandatory redeemable preferred shares outstanding as of December 31, 2021, December 31, 2020, December 31, 2019 and </span><div style="font-size:12pt;line-height:8pt;position:var(--position);top:512.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">December 31, 2018.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:522.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">+  There were no note-on-note loans outstanding as of </span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:249.06pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:293.72pt;position:var(--position);text-decoration:none;white-space:pre">, December 31, 2023, December 31, 2022, December 31, 2021, December </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:531.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">31, 2020, December 31, 2019 and December 31, 2018.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:541.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(1) Total amount of each class of senior securities outstanding at principal value at the end of the period presented.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:551.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:560.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">liabilities and indebtedness not represented by senior securities, divided by total senior securities representing indebtedness as calculated </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:570.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">separately for each of the Preferred Shares and the applicable borrowings in accordance with Section 18(h) of the Investment Company Act </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:579.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">of 1940. With respect to the Preferred Shares, the asset coverage per unit figure is expressed in terms of dollar amounts per share of </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:589.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">outstanding Preferred Shares (based on a per share liquidation preference of $25). With respect to the credit facilities and note-on-note loans, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:599.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">the asset coverage ratio is multiplied by $1,000 to determine the “Asset Coverage Per Unit”. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:608.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:618.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">The “—” in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:627.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:85.5pt;position:var(--position);text-decoration:none;white-space:pre">securities.</span></div><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:72pt;position:var(--position);text-decoration:none;white-space:pre">(4) Not applicable to senior securities outstanding as of period end.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund’s investment objective is to produce current income. The Fund seeks to achieve its investment </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:519pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">objective by opportunistically allocating its assets across a wide range of credit strategies. Under normal circumstances, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:531pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund will invest at least 80% of its assets in private credit instruments. The Fund will opportunistically allocate its </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:543pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investments in private credit instruments across any number of the following credit strategies: (a) liquid credit </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:555pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(including broadly syndicated loans); (b) direct lending (including first lien loans, second lien loans, unitranche loans, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:567pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and mezzanine debt); (c) opportunistic credit; (d) structured credit (including collateralized loan obligations, or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:579pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">“CLOs”); (e) asset-backed finance; and (f) real assets credit (including infrastructure, aviation, and real estate). To a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:591pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">lesser extent, the Fund also may invest in hybrid capital, including credit-oriented investments, structured equity </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:603pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">solutions, and stressed/dislocated investments. The Fund may invest in additional strategies in the future as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:615pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">opportunities in different strategies present. While some of the loans in which the Fund will invest pursuant to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:627pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">foregoing may be secured, the Fund may also invest in debt and equity securities that are either unsecured and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:639pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">subordinated to substantial amounts of senior indebtedness, or a significant portion of which may be unsecured. The </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:651pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund normally will invest in a number of different countries. There is no minimum or maximum limit on the amount of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:663pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund’s assets that may be invested in non-U.S. securities. The Fund’s portfolio composition is expected to change </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:675pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">over time as the Adviser’s view changes on, among other things, the economic and credit environment (including with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:687pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">respect to interest rates) in which the Fund is operating.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:711pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may invest a substantial portion of its assets in credit instruments that are rated below investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:723pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">grade by rating agencies or would be rated below investment grade if they were rated. Credit instruments that are rated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:63pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">below investment grade (commonly referred to as “high yield” securities or “junk bonds”) are regarded as having </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:87pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Because of the risks associated with investing in high yield securities, an investment in the Fund should be considered </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:99pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">speculative. Some of the credit instruments will have no credit rating at all.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:123pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">To qualify as a RIC, the Fund must, among other things, meet certain specified source-of-income and asset </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:135pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">diversification requirements and timely distribute to its shareholders generally at least 90% of its investment company </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:147pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taxable income, as defined by the Code, for each year. Pursuant to this election, the Fund generally does not have to pay </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:159pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">corporate level taxes on any income that it distributes to shareholders, provided that the Fund satisfies those </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:171pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">requirements.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:195pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Foreside Fund Services, LLC (the “Distributor”) serves as the Fund’s principal underwriter and the distributor </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:207pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of the Fund’s shares. The Fund offers Class A, Class I, Class L, Class M, Class N, Class U, and Class Y shares. During </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:219pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the reporting period, the Fund’s shares were offered for sale on a daily basis for all of its share classes. Earnings, net </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:231pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assets and net asset value per share may differ due to each class having its own expenses, such as transfer and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:243pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shareholder servicing agent fees and shareholder communications directly attributable to that class. Class A, L, M, U </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:255pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and Y have separate distribution and/or service plans under which they pay fees. Class I and Class N do not pay such </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:267pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fees. The sales load payable by each investor depends upon the amount invested by the investor in the Fund, but may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:279pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">range from 0.00% to 3.50%.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:63pt;position:var(--position);text-decoration:none;white-space:pre">6. RISK FACTORS</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Risks</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Portfolio Fair Value Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Under the Investment Company Act, the Fund is required to carry its portfolio investments at market value or, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">if there is no readily available market value, at fair value. There is not a public market for the securities of the privately </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">held companies in which the Fund may invest. Many of the Fund’s investments are not exchange-traded, but are, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instead, traded on a privately negotiated OTC secondary market for institutional investors. The Adviser, as valuation </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">designee, is responsible for the valuation of the Fund’s portfolio investments and implementing the portfolio valuation </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">process set forth in the Adviser’s and the Fund’s valuation policy. Valuations of Fund investments are disclosed </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">quarterly in reports publicly filed with the U.S. Securities and Exchange Commission (“SEC”). </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">A high proportion of the Fund’s investments relative to its total investments are valued at fair value. Certain </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">factors that may be considered in determining the fair value of the Fund’s investments include dealer quotes for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities traded on the OTC secondary market for institutional investors, the nature and realizable value of any </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral, the portfolio company’s earnings and its ability to make payments on its indebtedness, the markets in which </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the portfolio company does business, comparison to selected publicly-traded companies, discounted cash flow, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other relevant factors. The factors and methodologies used for the valuation of such securities are not necessarily an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">indication of the risks associated with investing in those securities nor can it be assured that the Fund can realize the fair </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value assigned to a security if it were to sell the security. Such valuations, and particularly valuations of private </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and private companies, are inherently uncertain, and they often reflect only periodic information received by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Adviser about such companies' financial condition and/or business operations, which may be on a lagged basis and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">can be based on estimates. Determinations of fair value may differ materially from the values that would have been </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">used if an exchange-traded market for these securities existed. Investments in private companies are typically governed </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by privately negotiated credit agreements and covenants, and reporting requirements contained in the agreements may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">result in a delay in reporting their financial position to lenders, which in turn may result in the Fund’s investments being </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">valued on the basis of this reported information. Further, the Fund is offered on a daily basis and calculates a daily NAV </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">per Share. The Adviser seeks to evaluate on a daily basis material information about the Fund’s portfolio companies; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">however, for the reasons noted herein, the Adviser may not be able to acquire and/or evaluate properly such information </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on a daily basis. Due to these various factors, the Adviser’s fair value determinations could cause the Fund’s NAV on a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">valuation day to materially differ from what it would have been had such information been fully incorporated. As a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">result, investors who purchase shares may receive more or less shares and investors who tender their shares may receive </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">more or less cash proceeds than they otherwise would receive.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Potential Conflicts of Interest Risk—Allocation of Investment Opportunities</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser has adopted allocation procedures that are intended to treat each fund it advises in a manner that, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">over a period of time, is fair and equitable. The Adviser and its affiliates currently provide investment advisory and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">administration services and may provide in the future similar services to other entities (collectively, “Advised Funds”). </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Certain existing Advised Funds have, and future Advised Funds may have, investment objectives similar to those of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund, and such Advised Funds will invest in asset classes similar to those targeted by the Fund. Certain other existing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Advised Funds do not, and future Advised Funds may not, have similar investment objectives, but such funds may from </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">time to time invest in asset classes similar to those targeted by the Fund. The Adviser will endeavor to allocate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment opportunities in a fair and equitable manner, and in any event consistent with any fiduciary duties owed to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund and other clients and in an effort to avoid favoring one client over another and taking into account all relevant </span></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">facts and circumstances, including (without limitation): (i) differences with respect to available capital, size of client, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and remaining life of a client; (ii) differences with respect to investment objectives or current investment strategies, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including regarding: (a) current and total return requirements, (b) emphasizing or limiting exposure to the security or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">type of security in question, (c) diversification, including industry or company exposure, currency, and jurisdiction, or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(d) rating agency ratings; (iii) differences in risk profile at the time an opportunity becomes available; (iv) the potential </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">transaction and other costs of allocating an opportunity among various clients; (v) potential conflicts of interest, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including whether a client has an existing investment in the security in question or the issuer of such security; (vi) the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">nature of the security or the transaction, including minimum investment amounts and the source of the opportunity; (vii) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">current and anticipated market and general economic conditions; (viii) existing positions in a borrower/loan/security; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and (ix) prior positions in a borrower/loan/security. Nevertheless, it is possible that the Fund may not be given the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">opportunity to participate in certain investments made by investment funds managed by investment managers affiliated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">with the Adviser. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Loans</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund invests in loans, either through primary issuances or in secondary transactions, including potentially </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on a synthetic basis. The value of the Fund’s loans may be detrimentally affected to the extent a borrower defaults on its </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">obligations. There can be no assurance that the value assigned by the Adviser can be realized upon liquidation, nor can </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">there be any assurance that any related collateral will retain its value. Furthermore, circumstances could arise (such as in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the bankruptcy of a borrower) that could cause the Fund’s security interest in the loan’s collateral to be invalidated. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Also, much of the collateral will be subject to restrictions on transfer intended to satisfy securities regulations, which </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will limit the number of potential purchases if the Fund intends to liquidate such collateral. The amount realizable with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">respect to a loan may be detrimentally affected if a guarantor, if any, fails to meet its obligations under a guarantee. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Finally, there may be a monetary, as well as a time cost involved in collecting on defaulted loans and, if applicable, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taking possession of various types of collateral.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The portfolio may include first lien senior secured, second, and third lien loans and any other loans.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Asset-Backed Securities (“ABS”)</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">ABS are a form of structured debt obligation. In addition to the general risks associated with credit or debt </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities discussed herein, ABS are subject to additional risks. While traditional fixed-income securities typically pay a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fixed rate of interest until maturity, when the entire principal amount is due, an ABS represents an interest in a pool of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assets, such as automobile loans, credit card receivables, home loans, solar loans, unsecured consumer loans, or student </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans, that has been securitized and provides for monthly payments of interest, at a fixed or floating rate, and principal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">from the cash flow of these assets. This pool of assets (and any related assets of the issuing entity) is the only source of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment for the ABS. The ability of an ABS issuer to make payments on the ABS, and the timing of such payments, is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">therefore dependent on collections on these underlying assets. The recoveries on the underlying collateral (if any) may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">not, in some cases, be sufficient to support payments on these securities, which may result in losses to investors in an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">ABS. In many circumstances, ABS are not secured by an interest in the related collateral. Credit card receivables, for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">example, are generally unsecured and the debtors are entitled to the protection of a number of state and federal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">consumer loan laws, many of which give such debtors the right to set off certain amounts owed on the credit cards, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">thereby reducing the balance due. Certain asset-backed securities are guaranteed as to timely payment of interest and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">principal by a government entity; however, the market price for such securities is not guaranteed and will fluctuate. The </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">purchase of asset-backed securities issued by non-government entities may entail greater risk than such securities that </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are issued or guaranteed by a government entity. Asset-backed securities issued by non-government entities may offer </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">higher yields than those issued by government entities, but may also be subject to greater volatility than government </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">issues and can also be subject to greater credit risk and the risk of default on the underlying assets. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Generally, obligors may prepay the underlying assets in full or in part at any time, subjecting the Fund to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prepayment risk related to the ABS it holds. While the expected repayment streams on ABS are determined by the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contractual amortization schedules for the underlying assets, an investor’s yield to maturity on an ABS is uncertain and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">may be reduced by the rate and speed of prepayments of the underlying assets, which may be influenced by a variety of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic, social, and other factors. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:207.26pt;position:var(--position);text-decoration:none;white-space:pre">During periods of declining interest rates, prepayment of loans underlying ABS can </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">be expected to accelerate. Accordingly, the Fund’s ability to maintain positions in such securities will be affected by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">reductions in the principal amount of such securities resulting from prepayments. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:389.86pt;position:var(--position);text-decoration:none;white-space:pre">Any prepayments, repurchases, </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">purchases, or liquidations of the underlying assets could shorten the average life of the ABS to an extent that cannot be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fully predicted. Some ABS may be structured to include a period of rapid amortization triggered by events such as a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">significant rise in the default rate of the underlying collateral, a sharp drop in the credit enhancement level because of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">credit losses on the underlying assets, a specified regulatory event or the bankruptcy of the originator. A rapid </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">amortization event will cause any revolving period to end earlier than expected and all collections on the underlying </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assets will be used to pay principal to investors earlier than expected. In general, the senior most securities will be paid </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prior to any payments being made on the subordinated securities, and if such payments are made earlier than expected, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund’s yield on such ABS may be negatively affected.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Collateralized Loan Obligations (“CLOs”)</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund invests in CLOs. CLOs are backed by a portfolio of senior secured loans. The Fund’s CLO </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investments may include senior/mezzanine CLO debt tranches (rated investment grade), mezzanine CLO debt tranches </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(rated below investment grade or unrated), subordinated CLO equity tranches (unrated), leveraged loans (including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">warehouse facilities that hold such loans) and vehicles that invest indirectly in CLO securities or leveraged loans. If </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">there are defaults or the relevant collateral otherwise underperforms, scheduled payments to senior tranches of such </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities take precedence over those of mezzanine tranches, and scheduled payments to mezzanine tranches have a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">priority in right of payment to subordinated/equity tranches. However, it is possible that a senior tranche of a CLO </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">could experience losses, particularly in stressed market conditions, due to defaults, downgrades of the underlying </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral by rating agencies, forced liquidation of the collateral pool, increased sensitivity to defaults due to collateral </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">default, market anticipation of defaults and investor aversion to CLO securities as an asset class. In light of the above, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">CLOs may therefore present risks similar to those of other types of debt obligations and, in fact, such risks may be of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">greater significance in the case of CLOs depending upon the Fund’s ranking in the capital structure. In certain cases, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">losses may equal the total amount of the Fund’s principal investment. Investments in structured vehicles, including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equity and junior debt securities issued by CLOs, involve risks, including credit risk and market risk. Changes in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest rates and credit quality may cause significant price fluctuations. In addition to the general risks associated with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investing in debt securities, CLO securities carry additional risks, including: (1) the possibility that distributions from </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral assets will not be adequate to make interest or other payments; (2) the quality of the collateral may decline in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value or default; (3) investments in CLO equity and junior debt tranches will likely be subordinate in right of payment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to other senior classes of CLO debt; and (4) the complex structure of a particular security may be subject to different </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interpretations and may produce disputes with the issuer or unexpected investment results, especially during times of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">market stress or volatility. Additionally, changes in the collateral held by a CLO may cause payments on the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instruments held by the Fund to be reduced, either temporarily or permanently.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Securities on a When-Issued or Forward Commitment Basis</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may purchase securities on a “when-issued” basis and may purchase or sell securities on a “forward </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">commitment” basis to acquire the security or to hedge against anticipated changes in interest rates and prices. When </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">such transactions are negotiated, the price is fixed at the time the commitment is made, but delivery and payment for the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities take place at a later date. When-issued securities and forward commitments may be sold prior to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">settlement date, but the Fund will enter into when-issued and forward commitments only with the intention of actually </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">receiving or delivering the securities, as the case may be. If the Fund disposes of the right to acquire a when-issued </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">security prior to its acquisition or disposes of its right to deliver or receive against a forward commitment, it might incur </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">a gain or loss. There is always a risk that the securities may not be delivered and that the Fund may incur a loss. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Settlements in the ordinary course, which may take substantially more than five business days, are not treated by the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund as when-issued or forward commitment transactions. The settlements of secondary market purchases of senior </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans in the ordinary course, on a settlement date beyond the period expected by loan market participants, are subject to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">delayed compensation. Furthermore, the purchase of a senior loan in the secondary market is typically negotiated and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">finalized pursuant to a binding trade confirmation, and therefore, the risk of non-delivery of the security to the Fund is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">reduced or eliminated when compared with such risk when investing in when-issued or forward commitment securities.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Covenant-Lite Loans Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Some of the loans in which the Fund may invest may be “covenant-lite” loans. “Covenant-lite” loans refer </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generally to loans that do not have a complete set of financial maintenance covenants. Generally, “covenant-lite” loans </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">provide borrower companies more freedom to negatively impact lenders because their covenants are incurrence-based, </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which means they are only tested and can only be breached following an affirmative action of the borrower, rather than </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by a deterioration in the borrower’s financial condition. Accordingly, to the extent the Fund invests in “covenant-lite” </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans, the Fund may have fewer rights against a borrower and may have a greater risk of loss on such investments as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">compared to investments in or exposure to loans with financial maintenance covenants.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Equity Security Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Stocks and other equity securities fluctuate in price and the value of the Fund’s portfolio may be affected by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in the equity markets generally. Equity markets may experience significant short-term volatility and may fall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">sharply at times. Different markets may behave differently from each other and U.S. equity markets may move in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">opposite direction from one or more foreign stock markets. Adverse events in any part of the equity or fixed-income </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">markets may have unexpected negative effects on other market segments. The prices of individual equity securities </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generally do not all move in the same direction at the same time and a variety of factors can affect the price of a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particular company’s securities. These factors may include, but are not limited to, poor earnings reports, a loss of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">customers, litigation against the company, general unfavorable performance of the company’s sector or industry, or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in government regulations affecting the company or its industry. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Risks of Foreign Investing</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may make investments in non-U.S. entities, including issuers in emerging markets. The Fund </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">expects that its investment in non-U.S. issuers will be made primarily in securities that are foreign currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">denominated. Some non-U.S. securities may be less liquid and more volatile than securities of comparable U.S. issuers.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Real Assets Investments Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may invest a portion of its assets in securities and credit instruments associated with real assets, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including infrastructure and aviation, which have historically experienced substantial price volatility. The value of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">companies engaged in these industries is affected by (i) changes in general economic and market conditions; (ii) the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">destruction of real assets, catastrophic events (such as earthquakes, wildfires, floods, hurricanes, tornadoes, man-made </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">disasters, and terrorist acts) and other public crises and relief responses; (iii) changes in environmental, governmental, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and other regulations; (iv) risks related to local economic conditions, overbuilding, and increased competition; (v) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">increases in property taxes and operating expenses; (vi) changes in zoning laws; (vii) casualty and condemnation losses; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(viii) surplus capacity and depletion concerns; (ix) the availability of financing; and (x) changes in interest rates and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">leverage. In addition, the availability of attractive financing and refinancing typically plays a critical role in the success </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of these investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment or default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assessment, or a rating agency’s assessment, of borrower credit quality may prove to be overly optimistic. The value of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities in these industries may go through cycles of relative under-performance and over-performance in comparison </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to equity securities markets in general.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Real Estate Investments Ri</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:169.79000000000002pt;position:var(--position);text-decoration:none;white-space:pre">sk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may invest a portion of its assets in securities and credit instruments of companies in the real estate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">industry, which has historically been cyclical and particularly sensitive to economic downturns and other events that </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">limit demand for real estate, which would adversely impact the value of real estate investments. The value of companies </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">engaged in the real estate industry is affected by (i) changes in general economic and market conditions, including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fluctuations in supply and demand; (ii) changes in the value of real estate properties; (iii) risks related to local economic </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">conditions, overbuilding, and increased competition; (iv) increases in property taxes and operating expenses; (v) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in zoning laws; (vi) casualty and condemnation losses; (vii) variations in rental income, neighborhood values or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the appeal of property to tenants; (viii) the availability of financing; and (ix) changes in interest rates and leverage. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the availability of attractive financing and refinancing typically plays a critical role in the success of real estate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in payment or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser’s assessment, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">or a rating agency’s assessment, of borrower credit quality may prove to be overly optimistic. The value of securities in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">this industry may go through cycles of relative under-performance and over-performance in comparison to equity </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities markets in general.</span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest Rate Swaps Risk </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may enter into interest rate swap agreements with another party to receive or pay interest (e.g., an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">exchange of fixed rate payments for floating rate payments) to protect itself from interest rate fluctuations. This type of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">calculated by reference to a specified interest rate(s) for a specified amount. The payment flows are usually netted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">against each other, with the difference being paid by one party to the other. Interest rate swap agreements are subject to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">general market risk, liquidity risk, counterparty risk, and interest rate risk.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Corporate Bond Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds are debt obligations issued by corporations and other business entities. Corporate bonds may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">be either secured or unsecured. Collateral used for secured debt includes real property, machinery, equipment, accounts </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">receivable, stocks, bonds, or notes. If a bond is unsecured, it is known as a debenture. Bondholders, as creditors, have a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prior legal claim over common and preferred stockholders as to both income and assets of the corporation for the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">principal and interest due them and may have a prior claim over other creditors if liens or mortgages are involved. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest on corporate bonds may be fixed or floating, or the bonds may be zero coupons. Interest on corporate bonds is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">typically paid semi-annually and is fully taxable to the bondholder. Corporate bonds contain elements of both interest-</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rate risk and credit risk and are subject to the risks associated with other debt securities, among other risks. The market </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value of a corporate bond generally may be expected to rise and fall inversely with interest rates and may also be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">affected by the credit rating of the corporation, the corporation’s performance and perceptions of the corporation in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">marketplace. Depending on the nature of the seniority provisions, a senior corporate bond may be junior to other credit </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities of the issuer. The market value of a corporate bond may be affected by factors directly related to the issuer, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">such as investors’ perceptions of the creditworthiness of the issuer, the issuer’s financial performance, perceptions of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the issuer in the marketplace, performance of management of the issuer, the issuer’s capital structure and use of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">financial leverage and demand for the issuer’s goods and services. There is a risk that the issuers of corporate bonds </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds of below-investment-grade quality are often high risk and have speculative characteristics and may be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly susceptible to adverse issuer-specific developments.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Market Risks</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The success of the Fund’s activities will be affected by general economic and market conditions, such as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest rates, availability of credit, credit defaults, inflation rates, economic uncertainty, changes in laws (including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">laws relating to taxation of the Fund’s investments), trade barriers, the imposition, or threatened imposition, of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic sanctions, including tariffs, currency exchange controls, disease outbreaks, pandemics, and national and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">international political, environmental, and socioeconomic circumstances (including wars, terrorist acts, or security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">operations). In addition, the current U.S. political environment and the resulting uncertainties regarding actual and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">potential shifts in U.S. foreign investment, trade, taxation, economic, environmental, and other policies under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">current Administration, as well as the impact of heightened geopolitical tensions (including those between the United </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">States and China, Taiwan and mainland China, Israel and Iran and the Axis of Resistance, and between Ukraine and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Russia) or other systemic issues or industry-specific economic disruptions, could lead to disruption, instability, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">volatility in the global markets. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:190.61pt;position:var(--position);text-decoration:none;white-space:pre">The U.S. government may renegotiate some of its global trade relationships with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">foreign governments and may impose or threaten to impose significant tariffs. The imposition </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:440.37pt;position:var(--position);text-decoration:none;white-space:pre">or threatened imposition </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of tariffs, trade restrictions, currency restrictions, and other federal government initiatives as well as foreign policy </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">tensions with foreign nations, including embargoes, sanctions, and trade wars, or similar actions (or retaliatory measures </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taken in response to such actions) could lead to price volatility and overall declines in the U.S. and global investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">markets. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99.62pt;position:var(--position);text-decoration:none;white-space:pre">Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">capital markets or result in a decision by lenders not to extend credit to us.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Economic sanctions may be, and have been, imposed against certain countries, organizations, companies, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entities and/or individuals. Economic sanctions and other similar governmental actions or developments could, among </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other things, effectively restrict or eliminate the Fund’s ability to purchase or sell certain foreign securities or groups of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">foreign securities, and thus may make the Fund’s investments in such securities less liquid or more difficult to value. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Such sanctions may also cause a decline in the value of securities issued by the sanctioned country or companies located </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in or economically tied to the sanctioned country and may result in economic disruptions in the sanctioned country and </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in countries with economic ties to the sanctioned country. When the United States is a significant trading partner of a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">foreign country in which the Fund may invest or to which the Fund may be exposed, such foreign country may be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly sensitive to changes in U.S. foreign trading policies, including the threat or actual imposition of tariffs, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">sanctions, or other similar measures. The imposition of tariffs (or threats thereof), trade restrictions, currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">restrictions, deficit levels and any reduction plans and other federal government initiatives as well as foreign policy </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">tensions with foreign nations, including embargoes, sanctions, and trade wars, or similar actions (or retaliatory measures </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taken in response to such actions) could lead to price volatility and overall declines in the U.S. and global investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">markets. In addition, as a result of economic sanctions and other similar governmental actions or developments, the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund may be forced to sell or otherwise dispose of foreign investments at inopportune times or prices. Sanctions and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other similar measures could significantly delay or prevent the settlement of securities transactions or their valuation, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and significantly impact the Fund’s performance. Sanctions and other similar measures also may be in place for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">substantial periods of time and enacted with limited advance notice. The type and severity of sanctions and other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">measures, including counter sanctions and other retaliatory actions, that may be imposed could vary broadly in scope, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and their impact is impossible to predict.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Current and historic market turmoil has illustrated that market environments may, at any time, be characterized </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by uncertainty, volatility, and instability. Serious economic disruptions may result in governmental authorities and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">regulators enacting significant fiscal and monetary policy changes, including by providing direct capital infusions into </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">companies, introducing new monetary programs and considerably increasing or lowering interest rates, which, in some </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">cases, resulted in negative interest rates. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">U.S. and global markets have also experienced increased volatility as a result of the failures of certain U.S. and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">non-U.S. banks, which could be harmful to the Fund and issuers in which it invests. For example, if a bank in which the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund or issuer has an account fails, any cash or other assets in bank accounts may be temporarily inaccessible or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">permanently lost by the Fund or issuer. If a bank that provides a subscription line credit facility, asset-based facility, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other credit facility and/or other services to the Fund or an issuer fails, the Fund or the issuer could be unable to draw </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">funds under its credit facilities or obtain replacement credit facilities or other services from other lending institutions </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">with similar terms. Even if banks used by the Fund and issuers in which the Fund invests remain solvent, volatility in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the banking sector could cause or intensify an economic recession, increase the costs of banking services or result in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">issuers being unable to obtain or refinance indebtedness at all or on as favorable terms as could otherwise have been </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">obtained. Continued market volatility and uncertainty and/or a downturn in market and economic and financial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">conditions, as a result of developments in the banking industry or otherwise (including as a result of delayed access to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">cash or credit facilities), could have an adverse impact on the Fund and issuers in which it invests.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:54.1pt">Inflation Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Inflation risk is the risk that the value of certain assets or income from the Fund’s investments will be worth </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">less in the future as inflation decreases the value of money. As inflation increases, the real value of investments and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">distributions can decline. Therefore, the income generated by debt investments may not keep pace with inflation. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, during any periods of rising inflation, the dividend rates or borrowing costs associated with the Fund’s use of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">leverage would likely increase, which would tend to further reduce returns to shareholders. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:428.97pt;position:var(--position);text-decoration:none;white-space:pre">Furthermore, actions by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">governments and central banking authorities can result in changes in interest rates. Periods of higher inflation could </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">cause such authorities to raise interest rates, and vice versa, which may adversely impact the Fund and its investments.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest Rate Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:123.44pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:179.26pt;position:var(--position);text-decoration:none;white-space:pre">, on a fair value basis, approximately </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:329.36pt;position:var(--position);text-decoration:none;white-space:pre">8.5%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:350.19pt;position:var(--position);text-decoration:none;white-space:pre"> of the Fund’s debt investments bear interest at a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fixed rate and approximately </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:180.62pt;position:var(--position);text-decoration:none;white-space:pre">91.5%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:206.45pt;position:var(--position);text-decoration:none;white-space:pre"> of the Fund’s debt investments bear interest at a floating rate, which primarily are </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">subject to interest rate floors. Interest rates on the investments held within the Fund’s portfolio of investments are </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">typically based on floating SOFR, with many of these investments also having a SOFR floor. Additionally, the Fund’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">credit facilities are also subject to floating interest rates and are currently paid based on floating EURIBOR, SOFR and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">SONIA rates.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">General interest rate fluctuations and changes in credit spreads on floating rate loans may have a substantial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">negative impact on the Fund’s investments and investment opportunities and, accordingly, may have a material adverse </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">effect on the Fund’s rate of return on invested capital, the Fund’s net investment income and the Fund’s NAV.</span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may be exposed to medium- to long-term spread duration securities. Longer spread duration </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities have a greater adverse price impact to increases in interest rates. Interest rate sensitivity is generally more </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">pronounced and less predictable in instruments with uncertain payment or prepayment schedules.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser regularly measures exposure to interest rate risk. Interest rate risk is assessed on an ongoing basis </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by comparing the Fund’s interest rate sensitive assets to its interest rate sensitive liabilities. Based on that review, the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Adviser determines whether or not any hedging transactions are necessary to mitigate exposure to changes in interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rates.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Payment-in-Kind (“PIK”) Income Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may hold investments that result in PIK interest income or PIK dividends. PIK income creates the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">risk that incentive fees will be paid to the Adviser based on non-cash accruals that ultimately may not be realized, while </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Adviser will be under no obligation to reimburse the Fund for these fees. PIK income may have a negative impact </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on liquidity, as it represents a non-cash component of the Fund’s taxable income that may require cash distributions to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shareholders in order to maintain the Fund’s ability to be subject to tax as a RIC. PIK income has the effect of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generating investment income at a compounding rate, thereby further increasing the incentive fees payable to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Adviser. Similarly, all things being equal, the deferral associated with PIK income also increases the loan-to-value ratio </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">at a compounding rate. The market prices of PIK securities generally are more volatile than the market prices of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest-bearing securities and are likely to respond to a greater degree to changes in interest rates than interest-bearing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities having similar maturities and credit quality. Because PIK income results in an increase in the size of the PIK </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities held, the Fund’s exposure to potential losses increases when a security pays PIK income.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Unitranche Loans</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Unitranche loans provide leverage levels comparable to a combination of first lien and second lien or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">subordinated loans. From the perspective of a lender, in addition to making a single loan, a unitranche loan may allow </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the lender to choose to participate in the “first out” tranche, which will generally receive priority with respect to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payments of principal, interest, and any other amounts due, or to choose to participate only in the “last out” tranche, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which is generally paid after the “first out” tranche is paid. The Fund intends to participate in “first out” and “last out” </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">tranches of unitranche loans and make single unitranche loans.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Regulatory Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Government regulation and/or intervention may change the way the Fund is regulated, affect the expenses </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">incurred directly by the Fund, affect the value of its investments and limit the Fund’s ability to achieve its investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">objective. Government regulation may change frequently and may have significant adverse consequences. Moreover, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">government regulation may have unpredictable and unintended effects. In addition to exposing the Fund to potential </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">new costs and expenses, additional regulation or changes to existing regulation may also require changes to the Fund’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment practices. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Credit risk relates to the ability of the borrower under an instrument to make interest and principal payments as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">they become due. The Fund’s investments in loans and other debt instruments are subject to risk of missing an interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and/or principal payment.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:165.93pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Spread Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Credit spread risk is the risk that credit spreads (i.e., the difference in yield between securities that is due to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">differences in their credit quality) may increase when the market expects below-investment-grade bonds to default more </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">frequently. Widening credit spreads may quickly reduce the market values of below-investment-grade and unrated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities. In recent years, the U.S. capital markets experienced extreme volatility and disruption following the spread </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of COVID-19, the impact of heightened geopolitical tensions (including those between the United States and China, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Taiwan and mainland China, Israel and Iran and the Axis of Resistance, and between Ukraine and Russia) and other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic disruptions, which increased the spread between yields realized on risk-free and higher risk securities, </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">resulting in illiquidity in parts of the capital markets. Central banks and governments played a key role in reintroducing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">liquidity to parts of the capital markets. Future exits of these financial institutions from the market may reintroduce </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">temporary illiquidity. These and future market disruptions and/or illiquidity would be expected to have an adverse effect </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on the Fund’s business, financial condition, results of operations, and cash flows.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Prepayment Risk </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Prepayment risk relates to the early repayment of principal on a loan or debt security. Loans are generally </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">callable at any time, and certain loans may be callable at any time at no premium to par. Having the loan or other debt </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instrument called early may have the effect of reducing the Fund’s actual investment income below its expected </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment income if the capital returned cannot be invested in transactions with equal or greater yields.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Volatility Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Volatility risk refers to the magnitude of the movement, but not the direction of the movement, in a financial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instrument’s price over a defined time period. Large increases or decreases in a financial instrument’s price over a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">indicate lower volatility risk.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Equity Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">general market.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:125.12pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Foreign Exchange Rate Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in a foreign currency. The U.S. dollar value of a foreign currency denominated security will decrease as the dollar </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">appreciates against the currency, while the U.S. dollar value will increase as the dollar depreciates against the currency.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Currency Hedging Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser may seek to hedge all or a portion of the Fund’s foreign currency risk. For example, the Fund may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">enter into foreign currency forward contracts to reduce the Fund’s exposure to foreign currency exchange rate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Fund agrees to receive or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. Forward foreign currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contracts are marked-to-market at the applicable forward rate. There is no guarantee that it will be practical to hedge </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">currency risks or that any efforts to do so will be successful. The use of foreign currency forward contracts is a highly </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">specialized activity that involves investment techniques and risks different from those associated with investments in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">more traditional securities and instruments, and there is no guarantee that the use of foreign currency forward contracts </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will achieve their intended result. If the Adviser is incorrect in its expectation of the timing or level of fluctuation in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities prices, currency prices, or other variables, the use of foreign currency forward contracts could result in losses, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which in some cases may be significant. A lack of correlation between changes in the value of foreign currency forward </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contracts and the value of the portfolio assets (if any) being hedged could also result in losses.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Artificial Intelligence Risks</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre;width:445.4pt">As computing technology and data analytics advance, there has been a trend towards machine driven and</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.4pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.49pt">artificially intelligent trading systems, particularly with respect to increasing levels of autonomy in trading decision</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.49pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.46pt">capabilities. Regulators of financial markets have become increasingly focused on the potential impact of artificial</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.46pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.45pt">intelligence (“AI”) on investment activities and may issue regulations that affect the use of artificial technology in</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.45pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.35pt">trading activities. Any such regulations may not have the effect on financial markets that regulators intend. The use of</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.35pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.44pt">AI and machine learning technologies (collectively, “AI Technologies”), and the overall adoption of AI Technologies</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.44pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.35pt">throughout society, create opportunities for the Fund and its portfolio companies, as well as new and unpredictable</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.35pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.35pt">competitive, operational, legal, and regulatory risks. The Fund uses, and plans to expand its use of, AI Technologies in</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.35pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:224.5pt">connection with its business and investment activities. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:287.5pt;position:var(--position);text-decoration:none;white-space:pre;width:195.56pt">The Fund’s portfolio companies and investment</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:483.06pt;position:var(--position);text-decoration:none;white-space:pre;width:61.4pt">s also use such</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.46pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.4pt">technologies, including, but not limited to, automation of operational tasks, identification of investment opportunities,</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.4pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.46pt">investment due diligence, and investment decision-making. The Fund and its portfolio companies continue to evaluate</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.46pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:205.05pt">the rapidly evolving landscape of AI Technologies.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:268.05pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The increasingly widespread use of AI by issuers and market participants and investments in such technologies </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by issuers may significantly impact the economy, financial markets, and issuers. Malicious actors may also use AI for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fraud, hacking, or market manipulation. Issuers that engage in AI-related businesses or that increasingly use these </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">technologies are particularly susceptible to the risks associated with AI and its rapid and unpredictable evolution, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including (but not limited to) market and business risks, technology and product risks, cybersecurity and data security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">risks, and intellectual property risks.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Cybersecurity Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Cybersecurity incidents and cyber-attacks have been occurring globally at a more frequent and severe level and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will likely continue to increase in frequency in the future. The Adviser faces various security threats on a regular basis, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including ongoing cyber security threats to and attacks on its information technology infrastructure that are intended to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">gain access to its proprietary information, destroy data or disable, degrade or sabotage its systems. These security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">threats could originate from a wide variety of sources, including unknown third parties outside of the Adviser. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:505.61pt;position:var(--position);text-decoration:none;white-space:pre">Recent </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">geopolitical tensions may have increased the scale and sophistication of deliberate cyber attacks and other disruptions, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly from nation-states or entities with nation-state backing. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:334.58pt;position:var(--position);text-decoration:none;white-space:pre">Although the Adviser is not currently aware that it </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">has been subject to cyber-attacks or other cyber incidents which, individually or in the aggregate, have materially </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">affected its operations or financial condition, there can be no assurance that the various procedures and controls utilized </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to mitigate these threats will be sufficient to prevent disruptions to its systems.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Risks</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Portfolio Fair Value Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Under the Investment Company Act, the Fund is required to carry its portfolio investments at market value or, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">if there is no readily available market value, at fair value. There is not a public market for the securities of the privately </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">held companies in which the Fund may invest. Many of the Fund’s investments are not exchange-traded, but are, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instead, traded on a privately negotiated OTC secondary market for institutional investors. The Adviser, as valuation </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">designee, is responsible for the valuation of the Fund’s portfolio investments and implementing the portfolio valuation </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">process set forth in the Adviser’s and the Fund’s valuation policy. Valuations of Fund investments are disclosed </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">quarterly in reports publicly filed with the U.S. Securities and Exchange Commission (“SEC”). </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">A high proportion of the Fund’s investments relative to its total investments are valued at fair value. Certain </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">factors that may be considered in determining the fair value of the Fund’s investments include dealer quotes for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities traded on the OTC secondary market for institutional investors, the nature and realizable value of any </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral, the portfolio company’s earnings and its ability to make payments on its indebtedness, the markets in which </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the portfolio company does business, comparison to selected publicly-traded companies, discounted cash flow, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other relevant factors. The factors and methodologies used for the valuation of such securities are not necessarily an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">indication of the risks associated with investing in those securities nor can it be assured that the Fund can realize the fair </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value assigned to a security if it were to sell the security. Such valuations, and particularly valuations of private </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and private companies, are inherently uncertain, and they often reflect only periodic information received by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Adviser about such companies' financial condition and/or business operations, which may be on a lagged basis and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">can be based on estimates. Determinations of fair value may differ materially from the values that would have been </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">used if an exchange-traded market for these securities existed. Investments in private companies are typically governed </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by privately negotiated credit agreements and covenants, and reporting requirements contained in the agreements may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">result in a delay in reporting their financial position to lenders, which in turn may result in the Fund’s investments being </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">valued on the basis of this reported information. Further, the Fund is offered on a daily basis and calculates a daily NAV </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">per Share. The Adviser seeks to evaluate on a daily basis material information about the Fund’s portfolio companies; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">however, for the reasons noted herein, the Adviser may not be able to acquire and/or evaluate properly such information </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on a daily basis. Due to these various factors, the Adviser’s fair value determinations could cause the Fund’s NAV on a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">valuation day to materially differ from what it would have been had such information been fully incorporated. As a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">result, investors who purchase shares may receive more or less shares and investors who tender their shares may receive </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">more or less cash proceeds than they otherwise would receive.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Potential Conflicts of Interest Risk—Allocation of Investment Opportunities</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser has adopted allocation procedures that are intended to treat each fund it advises in a manner that, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">over a period of time, is fair and equitable. The Adviser and its affiliates currently provide investment advisory and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">administration services and may provide in the future similar services to other entities (collectively, “Advised Funds”). </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Certain existing Advised Funds have, and future Advised Funds may have, investment objectives similar to those of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund, and such Advised Funds will invest in asset classes similar to those targeted by the Fund. Certain other existing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Advised Funds do not, and future Advised Funds may not, have similar investment objectives, but such funds may from </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">time to time invest in asset classes similar to those targeted by the Fund. The Adviser will endeavor to allocate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment opportunities in a fair and equitable manner, and in any event consistent with any fiduciary duties owed to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund and other clients and in an effort to avoid favoring one client over another and taking into account all relevant </span></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">facts and circumstances, including (without limitation): (i) differences with respect to available capital, size of client, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and remaining life of a client; (ii) differences with respect to investment objectives or current investment strategies, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including regarding: (a) current and total return requirements, (b) emphasizing or limiting exposure to the security or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">type of security in question, (c) diversification, including industry or company exposure, currency, and jurisdiction, or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(d) rating agency ratings; (iii) differences in risk profile at the time an opportunity becomes available; (iv) the potential </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">transaction and other costs of allocating an opportunity among various clients; (v) potential conflicts of interest, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including whether a client has an existing investment in the security in question or the issuer of such security; (vi) the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">nature of the security or the transaction, including minimum investment amounts and the source of the opportunity; (vii) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">current and anticipated market and general economic conditions; (viii) existing positions in a borrower/loan/security; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and (ix) prior positions in a borrower/loan/security. Nevertheless, it is possible that the Fund may not be given the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">opportunity to participate in certain investments made by investment funds managed by investment managers affiliated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">with the Adviser. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Loans</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund invests in loans, either through primary issuances or in secondary transactions, including potentially </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on a synthetic basis. The value of the Fund’s loans may be detrimentally affected to the extent a borrower defaults on its </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">obligations. There can be no assurance that the value assigned by the Adviser can be realized upon liquidation, nor can </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">there be any assurance that any related collateral will retain its value. Furthermore, circumstances could arise (such as in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the bankruptcy of a borrower) that could cause the Fund’s security interest in the loan’s collateral to be invalidated. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Also, much of the collateral will be subject to restrictions on transfer intended to satisfy securities regulations, which </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will limit the number of potential purchases if the Fund intends to liquidate such collateral. The amount realizable with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">respect to a loan may be detrimentally affected if a guarantor, if any, fails to meet its obligations under a guarantee. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Finally, there may be a monetary, as well as a time cost involved in collecting on defaulted loans and, if applicable, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taking possession of various types of collateral.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The portfolio may include first lien senior secured, second, and third lien loans and any other loans.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Asset-Backed Securities (“ABS”)</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">ABS are a form of structured debt obligation. In addition to the general risks associated with credit or debt </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities discussed herein, ABS are subject to additional risks. While traditional fixed-income securities typically pay a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fixed rate of interest until maturity, when the entire principal amount is due, an ABS represents an interest in a pool of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assets, such as automobile loans, credit card receivables, home loans, solar loans, unsecured consumer loans, or student </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans, that has been securitized and provides for monthly payments of interest, at a fixed or floating rate, and principal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">from the cash flow of these assets. This pool of assets (and any related assets of the issuing entity) is the only source of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment for the ABS. The ability of an ABS issuer to make payments on the ABS, and the timing of such payments, is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">therefore dependent on collections on these underlying assets. The recoveries on the underlying collateral (if any) may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">not, in some cases, be sufficient to support payments on these securities, which may result in losses to investors in an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">ABS. In many circumstances, ABS are not secured by an interest in the related collateral. Credit card receivables, for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">example, are generally unsecured and the debtors are entitled to the protection of a number of state and federal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">consumer loan laws, many of which give such debtors the right to set off certain amounts owed on the credit cards, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">thereby reducing the balance due. Certain asset-backed securities are guaranteed as to timely payment of interest and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">principal by a government entity; however, the market price for such securities is not guaranteed and will fluctuate. The </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">purchase of asset-backed securities issued by non-government entities may entail greater risk than such securities that </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are issued or guaranteed by a government entity. Asset-backed securities issued by non-government entities may offer </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">higher yields than those issued by government entities, but may also be subject to greater volatility than government </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">issues and can also be subject to greater credit risk and the risk of default on the underlying assets. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Generally, obligors may prepay the underlying assets in full or in part at any time, subjecting the Fund to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prepayment risk related to the ABS it holds. While the expected repayment streams on ABS are determined by the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contractual amortization schedules for the underlying assets, an investor’s yield to maturity on an ABS is uncertain and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">may be reduced by the rate and speed of prepayments of the underlying assets, which may be influenced by a variety of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic, social, and other factors. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:207.26pt;position:var(--position);text-decoration:none;white-space:pre">During periods of declining interest rates, prepayment of loans underlying ABS can </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">be expected to accelerate. Accordingly, the Fund’s ability to maintain positions in such securities will be affected by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">reductions in the principal amount of such securities resulting from prepayments. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:389.86pt;position:var(--position);text-decoration:none;white-space:pre">Any prepayments, repurchases, </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">purchases, or liquidations of the underlying assets could shorten the average life of the ABS to an extent that cannot be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fully predicted. Some ABS may be structured to include a period of rapid amortization triggered by events such as a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">significant rise in the default rate of the underlying collateral, a sharp drop in the credit enhancement level because of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">credit losses on the underlying assets, a specified regulatory event or the bankruptcy of the originator. A rapid </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">amortization event will cause any revolving period to end earlier than expected and all collections on the underlying </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assets will be used to pay principal to investors earlier than expected. In general, the senior most securities will be paid </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prior to any payments being made on the subordinated securities, and if such payments are made earlier than expected, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund’s yield on such ABS may be negatively affected.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Collateralized Loan Obligations (“CLOs”)</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund invests in CLOs. CLOs are backed by a portfolio of senior secured loans. The Fund’s CLO </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investments may include senior/mezzanine CLO debt tranches (rated investment grade), mezzanine CLO debt tranches </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(rated below investment grade or unrated), subordinated CLO equity tranches (unrated), leveraged loans (including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">warehouse facilities that hold such loans) and vehicles that invest indirectly in CLO securities or leveraged loans. If </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">there are defaults or the relevant collateral otherwise underperforms, scheduled payments to senior tranches of such </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities take precedence over those of mezzanine tranches, and scheduled payments to mezzanine tranches have a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">priority in right of payment to subordinated/equity tranches. However, it is possible that a senior tranche of a CLO </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">could experience losses, particularly in stressed market conditions, due to defaults, downgrades of the underlying </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral by rating agencies, forced liquidation of the collateral pool, increased sensitivity to defaults due to collateral </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">default, market anticipation of defaults and investor aversion to CLO securities as an asset class. In light of the above, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">CLOs may therefore present risks similar to those of other types of debt obligations and, in fact, such risks may be of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">greater significance in the case of CLOs depending upon the Fund’s ranking in the capital structure. In certain cases, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">losses may equal the total amount of the Fund’s principal investment. Investments in structured vehicles, including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equity and junior debt securities issued by CLOs, involve risks, including credit risk and market risk. Changes in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest rates and credit quality may cause significant price fluctuations. In addition to the general risks associated with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investing in debt securities, CLO securities carry additional risks, including: (1) the possibility that distributions from </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral assets will not be adequate to make interest or other payments; (2) the quality of the collateral may decline in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value or default; (3) investments in CLO equity and junior debt tranches will likely be subordinate in right of payment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to other senior classes of CLO debt; and (4) the complex structure of a particular security may be subject to different </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interpretations and may produce disputes with the issuer or unexpected investment results, especially during times of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">market stress or volatility. Additionally, changes in the collateral held by a CLO may cause payments on the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instruments held by the Fund to be reduced, either temporarily or permanently.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Securities on a When-Issued or Forward Commitment Basis</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may purchase securities on a “when-issued” basis and may purchase or sell securities on a “forward </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">commitment” basis to acquire the security or to hedge against anticipated changes in interest rates and prices. When </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">such transactions are negotiated, the price is fixed at the time the commitment is made, but delivery and payment for the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities take place at a later date. When-issued securities and forward commitments may be sold prior to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">settlement date, but the Fund will enter into when-issued and forward commitments only with the intention of actually </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">receiving or delivering the securities, as the case may be. If the Fund disposes of the right to acquire a when-issued </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">security prior to its acquisition or disposes of its right to deliver or receive against a forward commitment, it might incur </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">a gain or loss. There is always a risk that the securities may not be delivered and that the Fund may incur a loss. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Settlements in the ordinary course, which may take substantially more than five business days, are not treated by the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund as when-issued or forward commitment transactions. The settlements of secondary market purchases of senior </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans in the ordinary course, on a settlement date beyond the period expected by loan market participants, are subject to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">delayed compensation. Furthermore, the purchase of a senior loan in the secondary market is typically negotiated and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">finalized pursuant to a binding trade confirmation, and therefore, the risk of non-delivery of the security to the Fund is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">reduced or eliminated when compared with such risk when investing in when-issued or forward commitment securities.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Covenant-Lite Loans Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Some of the loans in which the Fund may invest may be “covenant-lite” loans. “Covenant-lite” loans refer </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generally to loans that do not have a complete set of financial maintenance covenants. Generally, “covenant-lite” loans </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">provide borrower companies more freedom to negatively impact lenders because their covenants are incurrence-based, </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which means they are only tested and can only be breached following an affirmative action of the borrower, rather than </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by a deterioration in the borrower’s financial condition. Accordingly, to the extent the Fund invests in “covenant-lite” </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans, the Fund may have fewer rights against a borrower and may have a greater risk of loss on such investments as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">compared to investments in or exposure to loans with financial maintenance covenants.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Equity Security Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Stocks and other equity securities fluctuate in price and the value of the Fund’s portfolio may be affected by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in the equity markets generally. Equity markets may experience significant short-term volatility and may fall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">sharply at times. Different markets may behave differently from each other and U.S. equity markets may move in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">opposite direction from one or more foreign stock markets. Adverse events in any part of the equity or fixed-income </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">markets may have unexpected negative effects on other market segments. The prices of individual equity securities </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generally do not all move in the same direction at the same time and a variety of factors can affect the price of a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particular company’s securities. These factors may include, but are not limited to, poor earnings reports, a loss of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">customers, litigation against the company, general unfavorable performance of the company’s sector or industry, or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in government regulations affecting the company or its industry. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Risks of Foreign Investing</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may make investments in non-U.S. entities, including issuers in emerging markets. The Fund </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">expects that its investment in non-U.S. issuers will be made primarily in securities that are foreign currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">denominated. Some non-U.S. securities may be less liquid and more volatile than securities of comparable U.S. issuers.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Real Assets Investments Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may invest a portion of its assets in securities and credit instruments associated with real assets, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including infrastructure and aviation, which have historically experienced substantial price volatility. The value of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">companies engaged in these industries is affected by (i) changes in general economic and market conditions; (ii) the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">destruction of real assets, catastrophic events (such as earthquakes, wildfires, floods, hurricanes, tornadoes, man-made </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">disasters, and terrorist acts) and other public crises and relief responses; (iii) changes in environmental, governmental, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and other regulations; (iv) risks related to local economic conditions, overbuilding, and increased competition; (v) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">increases in property taxes and operating expenses; (vi) changes in zoning laws; (vii) casualty and condemnation losses; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(viii) surplus capacity and depletion concerns; (ix) the availability of financing; and (x) changes in interest rates and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">leverage. In addition, the availability of attractive financing and refinancing typically plays a critical role in the success </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of these investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment or default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assessment, or a rating agency’s assessment, of borrower credit quality may prove to be overly optimistic. The value of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities in these industries may go through cycles of relative under-performance and over-performance in comparison </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to equity securities markets in general.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Real Estate Investments Ri</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:169.79000000000002pt;position:var(--position);text-decoration:none;white-space:pre">sk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may invest a portion of its assets in securities and credit instruments of companies in the real estate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">industry, which has historically been cyclical and particularly sensitive to economic downturns and other events that </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">limit demand for real estate, which would adversely impact the value of real estate investments. The value of companies </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">engaged in the real estate industry is affected by (i) changes in general economic and market conditions, including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fluctuations in supply and demand; (ii) changes in the value of real estate properties; (iii) risks related to local economic </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">conditions, overbuilding, and increased competition; (iv) increases in property taxes and operating expenses; (v) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in zoning laws; (vi) casualty and condemnation losses; (vii) variations in rental income, neighborhood values or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the appeal of property to tenants; (viii) the availability of financing; and (ix) changes in interest rates and leverage. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the availability of attractive financing and refinancing typically plays a critical role in the success of real estate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in payment or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser’s assessment, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">or a rating agency’s assessment, of borrower credit quality may prove to be overly optimistic. The value of securities in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">this industry may go through cycles of relative under-performance and over-performance in comparison to equity </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities markets in general.</span></div></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest Rate Swaps Risk </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may enter into interest rate swap agreements with another party to receive or pay interest (e.g., an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">exchange of fixed rate payments for floating rate payments) to protect itself from interest rate fluctuations. This type of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">calculated by reference to a specified interest rate(s) for a specified amount. The payment flows are usually netted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">against each other, with the difference being paid by one party to the other. Interest rate swap agreements are subject to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">general market risk, liquidity risk, counterparty risk, and interest rate risk.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Corporate Bond Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds are debt obligations issued by corporations and other business entities. Corporate bonds may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">be either secured or unsecured. Collateral used for secured debt includes real property, machinery, equipment, accounts </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">receivable, stocks, bonds, or notes. If a bond is unsecured, it is known as a debenture. Bondholders, as creditors, have a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prior legal claim over common and preferred stockholders as to both income and assets of the corporation for the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">principal and interest due them and may have a prior claim over other creditors if liens or mortgages are involved. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest on corporate bonds may be fixed or floating, or the bonds may be zero coupons. Interest on corporate bonds is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">typically paid semi-annually and is fully taxable to the bondholder. Corporate bonds contain elements of both interest-</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rate risk and credit risk and are subject to the risks associated with other debt securities, among other risks. The market </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value of a corporate bond generally may be expected to rise and fall inversely with interest rates and may also be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">affected by the credit rating of the corporation, the corporation’s performance and perceptions of the corporation in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">marketplace. Depending on the nature of the seniority provisions, a senior corporate bond may be junior to other credit </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities of the issuer. The market value of a corporate bond may be affected by factors directly related to the issuer, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">such as investors’ perceptions of the creditworthiness of the issuer, the issuer’s financial performance, perceptions of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the issuer in the marketplace, performance of management of the issuer, the issuer’s capital structure and use of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">financial leverage and demand for the issuer’s goods and services. There is a risk that the issuers of corporate bonds </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds of below-investment-grade quality are often high risk and have speculative characteristics and may be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly susceptible to adverse issuer-specific developments.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Portfolio Fair Value Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Under the Investment Company Act, the Fund is required to carry its portfolio investments at market value or, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">if there is no readily available market value, at fair value. There is not a public market for the securities of the privately </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">held companies in which the Fund may invest. Many of the Fund’s investments are not exchange-traded, but are, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instead, traded on a privately negotiated OTC secondary market for institutional investors. The Adviser, as valuation </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">designee, is responsible for the valuation of the Fund’s portfolio investments and implementing the portfolio valuation </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">process set forth in the Adviser’s and the Fund’s valuation policy. Valuations of Fund investments are disclosed </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">quarterly in reports publicly filed with the U.S. Securities and Exchange Commission (“SEC”). </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">A high proportion of the Fund’s investments relative to its total investments are valued at fair value. Certain </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">factors that may be considered in determining the fair value of the Fund’s investments include dealer quotes for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities traded on the OTC secondary market for institutional investors, the nature and realizable value of any </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral, the portfolio company’s earnings and its ability to make payments on its indebtedness, the markets in which </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the portfolio company does business, comparison to selected publicly-traded companies, discounted cash flow, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other relevant factors. The factors and methodologies used for the valuation of such securities are not necessarily an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">indication of the risks associated with investing in those securities nor can it be assured that the Fund can realize the fair </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value assigned to a security if it were to sell the security. Such valuations, and particularly valuations of private </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and private companies, are inherently uncertain, and they often reflect only periodic information received by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Adviser about such companies' financial condition and/or business operations, which may be on a lagged basis and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">can be based on estimates. Determinations of fair value may differ materially from the values that would have been </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">used if an exchange-traded market for these securities existed. Investments in private companies are typically governed </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by privately negotiated credit agreements and covenants, and reporting requirements contained in the agreements may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">result in a delay in reporting their financial position to lenders, which in turn may result in the Fund’s investments being </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">valued on the basis of this reported information. Further, the Fund is offered on a daily basis and calculates a daily NAV </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">per Share. The Adviser seeks to evaluate on a daily basis material information about the Fund’s portfolio companies; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">however, for the reasons noted herein, the Adviser may not be able to acquire and/or evaluate properly such information </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on a daily basis. Due to these various factors, the Adviser’s fair value determinations could cause the Fund’s NAV on a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">valuation day to materially differ from what it would have been had such information been fully incorporated. As a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">result, investors who purchase shares may receive more or less shares and investors who tender their shares may receive </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">more or less cash proceeds than they otherwise would receive.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Potential Conflicts of Interest Risk—Allocation of Investment Opportunities</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser has adopted allocation procedures that are intended to treat each fund it advises in a manner that, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">over a period of time, is fair and equitable. The Adviser and its affiliates currently provide investment advisory and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">administration services and may provide in the future similar services to other entities (collectively, “Advised Funds”). </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Certain existing Advised Funds have, and future Advised Funds may have, investment objectives similar to those of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund, and such Advised Funds will invest in asset classes similar to those targeted by the Fund. Certain other existing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Advised Funds do not, and future Advised Funds may not, have similar investment objectives, but such funds may from </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">time to time invest in asset classes similar to those targeted by the Fund. The Adviser will endeavor to allocate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment opportunities in a fair and equitable manner, and in any event consistent with any fiduciary duties owed to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund and other clients and in an effort to avoid favoring one client over another and taking into account all relevant </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">facts and circumstances, including (without limitation): (i) differences with respect to available capital, size of client, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and remaining life of a client; (ii) differences with respect to investment objectives or current investment strategies, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including regarding: (a) current and total return requirements, (b) emphasizing or limiting exposure to the security or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">type of security in question, (c) diversification, including industry or company exposure, currency, and jurisdiction, or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(d) rating agency ratings; (iii) differences in risk profile at the time an opportunity becomes available; (iv) the potential </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">transaction and other costs of allocating an opportunity among various clients; (v) potential conflicts of interest, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including whether a client has an existing investment in the security in question or the issuer of such security; (vi) the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">nature of the security or the transaction, including minimum investment amounts and the source of the opportunity; (vii) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">current and anticipated market and general economic conditions; (viii) existing positions in a borrower/loan/security; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and (ix) prior positions in a borrower/loan/security. Nevertheless, it is possible that the Fund may not be given the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">opportunity to participate in certain investments made by investment funds managed by investment managers affiliated </span></div>with the Adviser. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Loans</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund invests in loans, either through primary issuances or in secondary transactions, including potentially </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on a synthetic basis. The value of the Fund’s loans may be detrimentally affected to the extent a borrower defaults on its </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">obligations. There can be no assurance that the value assigned by the Adviser can be realized upon liquidation, nor can </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">there be any assurance that any related collateral will retain its value. Furthermore, circumstances could arise (such as in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the bankruptcy of a borrower) that could cause the Fund’s security interest in the loan’s collateral to be invalidated. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Also, much of the collateral will be subject to restrictions on transfer intended to satisfy securities regulations, which </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will limit the number of potential purchases if the Fund intends to liquidate such collateral. The amount realizable with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">respect to a loan may be detrimentally affected if a guarantor, if any, fails to meet its obligations under a guarantee. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Finally, there may be a monetary, as well as a time cost involved in collecting on defaulted loans and, if applicable, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taking possession of various types of collateral.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The portfolio may include first lien senior secured, second, and third lien loans and any other loans.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Asset-Backed Securities (“ABS”)</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">ABS are a form of structured debt obligation. In addition to the general risks associated with credit or debt </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities discussed herein, ABS are subject to additional risks. While traditional fixed-income securities typically pay a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fixed rate of interest until maturity, when the entire principal amount is due, an ABS represents an interest in a pool of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assets, such as automobile loans, credit card receivables, home loans, solar loans, unsecured consumer loans, or student </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans, that has been securitized and provides for monthly payments of interest, at a fixed or floating rate, and principal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">from the cash flow of these assets. This pool of assets (and any related assets of the issuing entity) is the only source of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment for the ABS. The ability of an ABS issuer to make payments on the ABS, and the timing of such payments, is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">therefore dependent on collections on these underlying assets. The recoveries on the underlying collateral (if any) may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">not, in some cases, be sufficient to support payments on these securities, which may result in losses to investors in an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">ABS. In many circumstances, ABS are not secured by an interest in the related collateral. Credit card receivables, for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">example, are generally unsecured and the debtors are entitled to the protection of a number of state and federal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">consumer loan laws, many of which give such debtors the right to set off certain amounts owed on the credit cards, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">thereby reducing the balance due. Certain asset-backed securities are guaranteed as to timely payment of interest and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">principal by a government entity; however, the market price for such securities is not guaranteed and will fluctuate. The </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">purchase of asset-backed securities issued by non-government entities may entail greater risk than such securities that </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are issued or guaranteed by a government entity. Asset-backed securities issued by non-government entities may offer </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">higher yields than those issued by government entities, but may also be subject to greater volatility than government </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">issues and can also be subject to greater credit risk and the risk of default on the underlying assets. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Generally, obligors may prepay the underlying assets in full or in part at any time, subjecting the Fund to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prepayment risk related to the ABS it holds. While the expected repayment streams on ABS are determined by the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contractual amortization schedules for the underlying assets, an investor’s yield to maturity on an ABS is uncertain and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">may be reduced by the rate and speed of prepayments of the underlying assets, which may be influenced by a variety of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic, social, and other factors. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:207.26pt;position:var(--position);text-decoration:none;white-space:pre">During periods of declining interest rates, prepayment of loans underlying ABS can </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">be expected to accelerate. Accordingly, the Fund’s ability to maintain positions in such securities will be affected by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">reductions in the principal amount of such securities resulting from prepayments. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:389.86pt;position:var(--position);text-decoration:none;white-space:pre">Any prepayments, repurchases, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">purchases, or liquidations of the underlying assets could shorten the average life of the ABS to an extent that cannot be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fully predicted. Some ABS may be structured to include a period of rapid amortization triggered by events such as a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">significant rise in the default rate of the underlying collateral, a sharp drop in the credit enhancement level because of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">credit losses on the underlying assets, a specified regulatory event or the bankruptcy of the originator. A rapid </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">amortization event will cause any revolving period to end earlier than expected and all collections on the underlying </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assets will be used to pay principal to investors earlier than expected. In general, the senior most securities will be paid </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prior to any payments being made on the subordinated securities, and if such payments are made earlier than expected, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Fund’s yield on such ABS may be negatively affected.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Collateralized Loan Obligations (“CLOs”)</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund invests in CLOs. CLOs are backed by a portfolio of senior secured loans. The Fund’s CLO </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investments may include senior/mezzanine CLO debt tranches (rated investment grade), mezzanine CLO debt tranches </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(rated below investment grade or unrated), subordinated CLO equity tranches (unrated), leveraged loans (including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">warehouse facilities that hold such loans) and vehicles that invest indirectly in CLO securities or leveraged loans. If </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">there are defaults or the relevant collateral otherwise underperforms, scheduled payments to senior tranches of such </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities take precedence over those of mezzanine tranches, and scheduled payments to mezzanine tranches have a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">priority in right of payment to subordinated/equity tranches. However, it is possible that a senior tranche of a CLO </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">could experience losses, particularly in stressed market conditions, due to defaults, downgrades of the underlying </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral by rating agencies, forced liquidation of the collateral pool, increased sensitivity to defaults due to collateral </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">default, market anticipation of defaults and investor aversion to CLO securities as an asset class. In light of the above, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">CLOs may therefore present risks similar to those of other types of debt obligations and, in fact, such risks may be of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">greater significance in the case of CLOs depending upon the Fund’s ranking in the capital structure. In certain cases, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">losses may equal the total amount of the Fund’s principal investment. Investments in structured vehicles, including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equity and junior debt securities issued by CLOs, involve risks, including credit risk and market risk. Changes in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest rates and credit quality may cause significant price fluctuations. In addition to the general risks associated with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investing in debt securities, CLO securities carry additional risks, including: (1) the possibility that distributions from </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">collateral assets will not be adequate to make interest or other payments; (2) the quality of the collateral may decline in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value or default; (3) investments in CLO equity and junior debt tranches will likely be subordinate in right of payment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to other senior classes of CLO debt; and (4) the complex structure of a particular security may be subject to different </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interpretations and may produce disputes with the issuer or unexpected investment results, especially during times of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">market stress or volatility. Additionally, changes in the collateral held by a CLO may cause payments on the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instruments held by the Fund to be reduced, either temporarily or permanently.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Securities on a When-Issued or Forward Commitment Basis</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may purchase securities on a “when-issued” basis and may purchase or sell securities on a “forward </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">commitment” basis to acquire the security or to hedge against anticipated changes in interest rates and prices. When </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">such transactions are negotiated, the price is fixed at the time the commitment is made, but delivery and payment for the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities take place at a later date. When-issued securities and forward commitments may be sold prior to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">settlement date, but the Fund will enter into when-issued and forward commitments only with the intention of actually </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">receiving or delivering the securities, as the case may be. If the Fund disposes of the right to acquire a when-issued </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">security prior to its acquisition or disposes of its right to deliver or receive against a forward commitment, it might incur </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">a gain or loss. There is always a risk that the securities may not be delivered and that the Fund may incur a loss. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Settlements in the ordinary course, which may take substantially more than five business days, are not treated by the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund as when-issued or forward commitment transactions. The settlements of secondary market purchases of senior </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans in the ordinary course, on a settlement date beyond the period expected by loan market participants, are subject to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">delayed compensation. Furthermore, the purchase of a senior loan in the secondary market is typically negotiated and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">finalized pursuant to a binding trade confirmation, and therefore, the risk of non-delivery of the security to the Fund is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">reduced or eliminated when compared with such risk when investing in when-issued or forward commitment securities.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Covenant-Lite Loans Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Some of the loans in which the Fund may invest may be “covenant-lite” loans. “Covenant-lite” loans refer </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generally to loans that do not have a complete set of financial maintenance covenants. Generally, “covenant-lite” loans </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">provide borrower companies more freedom to negatively impact lenders because their covenants are incurrence-based, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which means they are only tested and can only be breached following an affirmative action of the borrower, rather than </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by a deterioration in the borrower’s financial condition. Accordingly, to the extent the Fund invests in “covenant-lite” </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loans, the Fund may have fewer rights against a borrower and may have a greater risk of loss on such investments as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">compared to investments in or exposure to loans with financial maintenance covenants.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Equity Security Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Stocks and other equity securities fluctuate in price and the value of the Fund’s portfolio may be affected by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in the equity markets generally. Equity markets may experience significant short-term volatility and may fall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">sharply at times. Different markets may behave differently from each other and U.S. equity markets may move in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">opposite direction from one or more foreign stock markets. Adverse events in any part of the equity or fixed-income </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">markets may have unexpected negative effects on other market segments. The prices of individual equity securities </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generally do not all move in the same direction at the same time and a variety of factors can affect the price of a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particular company’s securities. These factors may include, but are not limited to, poor earnings reports, a loss of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">customers, litigation against the company, general unfavorable performance of the company’s sector or industry, or </span></div>changes in government regulations affecting the company or its industry. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Risks of Foreign Investing</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may make investments in non-U.S. entities, including issuers in emerging markets. The Fund </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">expects that its investment in non-U.S. issuers will be made primarily in securities that are foreign currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">denominated. Some non-U.S. securities may be less liquid and more volatile than securities of comparable U.S. issuers.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Real Assets Investments Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may invest a portion of its assets in securities and credit instruments associated with real assets, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including infrastructure and aviation, which have historically experienced substantial price volatility. The value of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">companies engaged in these industries is affected by (i) changes in general economic and market conditions; (ii) the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">destruction of real assets, catastrophic events (such as earthquakes, wildfires, floods, hurricanes, tornadoes, man-made </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">disasters, and terrorist acts) and other public crises and relief responses; (iii) changes in environmental, governmental, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and other regulations; (iv) risks related to local economic conditions, overbuilding, and increased competition; (v) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">increases in property taxes and operating expenses; (vi) changes in zoning laws; (vii) casualty and condemnation losses; </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(viii) surplus capacity and depletion concerns; (ix) the availability of financing; and (x) changes in interest rates and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">leverage. In addition, the availability of attractive financing and refinancing typically plays a critical role in the success </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of these investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment or default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">assessment, or a rating agency’s assessment, of borrower credit quality may prove to be overly optimistic. The value of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities in these industries may go through cycles of relative under-performance and over-performance in comparison </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to equity securities markets in general.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Real Estate Investments Ri</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:169.79000000000002pt;position:var(--position);text-decoration:none;white-space:pre">sk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may invest a portion of its assets in securities and credit instruments of companies in the real estate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">industry, which has historically been cyclical and particularly sensitive to economic downturns and other events that </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">limit demand for real estate, which would adversely impact the value of real estate investments. The value of companies </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">engaged in the real estate industry is affected by (i) changes in general economic and market conditions, including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fluctuations in supply and demand; (ii) changes in the value of real estate properties; (iii) risks related to local economic </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">conditions, overbuilding, and increased competition; (iv) increases in property taxes and operating expenses; (v) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">changes in zoning laws; (vi) casualty and condemnation losses; (vii) variations in rental income, neighborhood values or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the appeal of property to tenants; (viii) the availability of financing; and (ix) changes in interest rates and leverage. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the availability of attractive financing and refinancing typically plays a critical role in the success of real estate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in payment or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser’s assessment, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">or a rating agency’s assessment, of borrower credit quality may prove to be overly optimistic. The value of securities in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">this industry may go through cycles of relative under-performance and over-performance in comparison to equity </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities markets in general.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest Rate Swaps Risk </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may enter into interest rate swap agreements with another party to receive or pay interest (e.g., an </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">exchange of fixed rate payments for floating rate payments) to protect itself from interest rate fluctuations. This type of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">calculated by reference to a specified interest rate(s) for a specified amount. The payment flows are usually netted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">against each other, with the difference being paid by one party to the other. Interest rate swap agreements are subject to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">general market risk, liquidity risk, counterparty risk, and interest rate risk.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Corporate Bond Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds are debt obligations issued by corporations and other business entities. Corporate bonds may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">be either secured or unsecured. Collateral used for secured debt includes real property, machinery, equipment, accounts </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">receivable, stocks, bonds, or notes. If a bond is unsecured, it is known as a debenture. Bondholders, as creditors, have a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">prior legal claim over common and preferred stockholders as to both income and assets of the corporation for the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">principal and interest due them and may have a prior claim over other creditors if liens or mortgages are involved. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest on corporate bonds may be fixed or floating, or the bonds may be zero coupons. Interest on corporate bonds is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">typically paid semi-annually and is fully taxable to the bondholder. Corporate bonds contain elements of both interest-</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rate risk and credit risk and are subject to the risks associated with other debt securities, among other risks. The market </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">value of a corporate bond generally may be expected to rise and fall inversely with interest rates and may also be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">affected by the credit rating of the corporation, the corporation’s performance and perceptions of the corporation in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">marketplace. Depending on the nature of the seniority provisions, a senior corporate bond may be junior to other credit </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities of the issuer. The market value of a corporate bond may be affected by factors directly related to the issuer, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">such as investors’ perceptions of the creditworthiness of the issuer, the issuer’s financial performance, perceptions of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the issuer in the marketplace, performance of management of the issuer, the issuer’s capital structure and use of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">financial leverage and demand for the issuer’s goods and services. There is a risk that the issuers of corporate bonds </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Corporate bonds of below-investment-grade quality are often high risk and have speculative characteristics and may be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly susceptible to adverse issuer-specific developments.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Market Risks</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The success of the Fund’s activities will be affected by general economic and market conditions, such as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest rates, availability of credit, credit defaults, inflation rates, economic uncertainty, changes in laws (including </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">laws relating to taxation of the Fund’s investments), trade barriers, the imposition, or threatened imposition, of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic sanctions, including tariffs, currency exchange controls, disease outbreaks, pandemics, and national and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">international political, environmental, and socioeconomic circumstances (including wars, terrorist acts, or security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">operations). In addition, the current U.S. political environment and the resulting uncertainties regarding actual and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">potential shifts in U.S. foreign investment, trade, taxation, economic, environmental, and other policies under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">current Administration, as well as the impact of heightened geopolitical tensions (including those between the United </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">States and China, Taiwan and mainland China, Israel and Iran and the Axis of Resistance, and between Ukraine and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Russia) or other systemic issues or industry-specific economic disruptions, could lead to disruption, instability, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">volatility in the global markets. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:190.61pt;position:var(--position);text-decoration:none;white-space:pre">The U.S. government may renegotiate some of its global trade relationships with </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">foreign governments and may impose or threaten to impose significant tariffs. The imposition </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:440.37pt;position:var(--position);text-decoration:none;white-space:pre">or threatened imposition </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of tariffs, trade restrictions, currency restrictions, and other federal government initiatives as well as foreign policy </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">tensions with foreign nations, including embargoes, sanctions, and trade wars, or similar actions (or retaliatory measures </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taken in response to such actions) could lead to price volatility and overall declines in the U.S. and global investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">markets. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99.62pt;position:var(--position);text-decoration:none;white-space:pre">Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">capital markets or result in a decision by lenders not to extend credit to us.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Economic sanctions may be, and have been, imposed against certain countries, organizations, companies, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entities and/or individuals. Economic sanctions and other similar governmental actions or developments could, among </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other things, effectively restrict or eliminate the Fund’s ability to purchase or sell certain foreign securities or groups of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">foreign securities, and thus may make the Fund’s investments in such securities less liquid or more difficult to value. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Such sanctions may also cause a decline in the value of securities issued by the sanctioned country or companies located </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in or economically tied to the sanctioned country and may result in economic disruptions in the sanctioned country and </span></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in countries with economic ties to the sanctioned country. When the United States is a significant trading partner of a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">foreign country in which the Fund may invest or to which the Fund may be exposed, such foreign country may be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly sensitive to changes in U.S. foreign trading policies, including the threat or actual imposition of tariffs, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">sanctions, or other similar measures. The imposition of tariffs (or threats thereof), trade restrictions, currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">restrictions, deficit levels and any reduction plans and other federal government initiatives as well as foreign policy </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">tensions with foreign nations, including embargoes, sanctions, and trade wars, or similar actions (or retaliatory measures </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">taken in response to such actions) could lead to price volatility and overall declines in the U.S. and global investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">markets. In addition, as a result of economic sanctions and other similar governmental actions or developments, the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund may be forced to sell or otherwise dispose of foreign investments at inopportune times or prices. Sanctions and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other similar measures could significantly delay or prevent the settlement of securities transactions or their valuation, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and significantly impact the Fund’s performance. Sanctions and other similar measures also may be in place for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">substantial periods of time and enacted with limited advance notice. The type and severity of sanctions and other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">measures, including counter sanctions and other retaliatory actions, that may be imposed could vary broadly in scope, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and their impact is impossible to predict.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Current and historic market turmoil has illustrated that market environments may, at any time, be characterized </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by uncertainty, volatility, and instability. Serious economic disruptions may result in governmental authorities and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">regulators enacting significant fiscal and monetary policy changes, including by providing direct capital infusions into </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">companies, introducing new monetary programs and considerably increasing or lowering interest rates, which, in some </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">cases, resulted in negative interest rates. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">U.S. and global markets have also experienced increased volatility as a result of the failures of certain U.S. and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">non-U.S. banks, which could be harmful to the Fund and issuers in which it invests. For example, if a bank in which the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund or issuer has an account fails, any cash or other assets in bank accounts may be temporarily inaccessible or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">permanently lost by the Fund or issuer. If a bank that provides a subscription line credit facility, asset-based facility, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">other credit facility and/or other services to the Fund or an issuer fails, the Fund or the issuer could be unable to draw </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">funds under its credit facilities or obtain replacement credit facilities or other services from other lending institutions </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">with similar terms. Even if banks used by the Fund and issuers in which the Fund invests remain solvent, volatility in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the banking sector could cause or intensify an economic recession, increase the costs of banking services or result in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">issuers being unable to obtain or refinance indebtedness at all or on as favorable terms as could otherwise have been </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">obtained. Continued market volatility and uncertainty and/or a downturn in market and economic and financial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">conditions, as a result of developments in the banking industry or otherwise (including as a result of delayed access to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">cash or credit facilities), could have an adverse impact on the Fund and issuers in which it invests.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:54.1pt">Inflation Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Inflation risk is the risk that the value of certain assets or income from the Fund’s investments will be worth </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">less in the future as inflation decreases the value of money. As inflation increases, the real value of investments and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">distributions can decline. Therefore, the income generated by debt investments may not keep pace with inflation. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, during any periods of rising inflation, the dividend rates or borrowing costs associated with the Fund’s use of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">leverage would likely increase, which would tend to further reduce returns to shareholders. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:428.97pt;position:var(--position);text-decoration:none;white-space:pre">Furthermore, actions by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">governments and central banking authorities can result in changes in interest rates. Periods of higher inflation could </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">cause such authorities to raise interest rates, and vice versa, which may adversely impact the Fund and its investments.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest Rate Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:123.44pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:179.26pt;position:var(--position);text-decoration:none;white-space:pre">, on a fair value basis, approximately </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:329.36pt;position:var(--position);text-decoration:none;white-space:pre">8.5%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:350.19pt;position:var(--position);text-decoration:none;white-space:pre"> of the Fund’s debt investments bear interest at a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fixed rate and approximately </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:180.62pt;position:var(--position);text-decoration:none;white-space:pre">91.5%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:206.45pt;position:var(--position);text-decoration:none;white-space:pre"> of the Fund’s debt investments bear interest at a floating rate, which primarily are </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">subject to interest rate floors. Interest rates on the investments held within the Fund’s portfolio of investments are </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">typically based on floating SOFR, with many of these investments also having a SOFR floor. Additionally, the Fund’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">credit facilities are also subject to floating interest rates and are currently paid based on floating EURIBOR, SOFR and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">SONIA rates.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">General interest rate fluctuations and changes in credit spreads on floating rate loans may have a substantial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">negative impact on the Fund’s investments and investment opportunities and, accordingly, may have a material adverse </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">effect on the Fund’s rate of return on invested capital, the Fund’s net investment income and the Fund’s NAV.</span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may be exposed to medium- to long-term spread duration securities. Longer spread duration </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities have a greater adverse price impact to increases in interest rates. Interest rate sensitivity is generally more </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">pronounced and less predictable in instruments with uncertain payment or prepayment schedules.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser regularly measures exposure to interest rate risk. Interest rate risk is assessed on an ongoing basis </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by comparing the Fund’s interest rate sensitive assets to its interest rate sensitive liabilities. Based on that review, the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Adviser determines whether or not any hedging transactions are necessary to mitigate exposure to changes in interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rates.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Payment-in-Kind (“PIK”) Income Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may hold investments that result in PIK interest income or PIK dividends. PIK income creates the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">risk that incentive fees will be paid to the Adviser based on non-cash accruals that ultimately may not be realized, while </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Adviser will be under no obligation to reimburse the Fund for these fees. PIK income may have a negative impact </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on liquidity, as it represents a non-cash component of the Fund’s taxable income that may require cash distributions to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shareholders in order to maintain the Fund’s ability to be subject to tax as a RIC. PIK income has the effect of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generating investment income at a compounding rate, thereby further increasing the incentive fees payable to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Adviser. Similarly, all things being equal, the deferral associated with PIK income also increases the loan-to-value ratio </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">at a compounding rate. The market prices of PIK securities generally are more volatile than the market prices of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest-bearing securities and are likely to respond to a greater degree to changes in interest rates than interest-bearing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities having similar maturities and credit quality. Because PIK income results in an increase in the size of the PIK </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities held, the Fund’s exposure to potential losses increases when a security pays PIK income.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Unitranche Loans</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Unitranche loans provide leverage levels comparable to a combination of first lien and second lien or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">subordinated loans. From the perspective of a lender, in addition to making a single loan, a unitranche loan may allow </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the lender to choose to participate in the “first out” tranche, which will generally receive priority with respect to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payments of principal, interest, and any other amounts due, or to choose to participate only in the “last out” tranche, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which is generally paid after the “first out” tranche is paid. The Fund intends to participate in “first out” and “last out” </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">tranches of unitranche loans and make single unitranche loans.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Regulatory Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Government regulation and/or intervention may change the way the Fund is regulated, affect the expenses </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">incurred directly by the Fund, affect the value of its investments and limit the Fund’s ability to achieve its investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">objective. Government regulation may change frequently and may have significant adverse consequences. Moreover, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">government regulation may have unpredictable and unintended effects. In addition to exposing the Fund to potential </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">new costs and expenses, additional regulation or changes to existing regulation may also require changes to the Fund’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment practices. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Credit risk relates to the ability of the borrower under an instrument to make interest and principal payments as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">they become due. The Fund’s investments in loans and other debt instruments are subject to risk of missing an interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and/or principal payment.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:165.93pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Spread Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Credit spread risk is the risk that credit spreads (i.e., the difference in yield between securities that is due to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">differences in their credit quality) may increase when the market expects below-investment-grade bonds to default more </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">frequently. Widening credit spreads may quickly reduce the market values of below-investment-grade and unrated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities. In recent years, the U.S. capital markets experienced extreme volatility and disruption following the spread </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of COVID-19, the impact of heightened geopolitical tensions (including those between the United States and China, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Taiwan and mainland China, Israel and Iran and the Axis of Resistance, and between Ukraine and Russia) and other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic disruptions, which increased the spread between yields realized on risk-free and higher risk securities, </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">resulting in illiquidity in parts of the capital markets. Central banks and governments played a key role in reintroducing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">liquidity to parts of the capital markets. Future exits of these financial institutions from the market may reintroduce </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">temporary illiquidity. These and future market disruptions and/or illiquidity would be expected to have an adverse effect </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on the Fund’s business, financial condition, results of operations, and cash flows.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Prepayment Risk </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Prepayment risk relates to the early repayment of principal on a loan or debt security. Loans are generally </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">callable at any time, and certain loans may be callable at any time at no premium to par. Having the loan or other debt </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instrument called early may have the effect of reducing the Fund’s actual investment income below its expected </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment income if the capital returned cannot be invested in transactions with equal or greater yields.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Volatility Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Volatility risk refers to the magnitude of the movement, but not the direction of the movement, in a financial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instrument’s price over a defined time period. Large increases or decreases in a financial instrument’s price over a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">indicate lower volatility risk.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Equity Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">general market.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:125.12pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:355.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Foreign Exchange Rate Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in a foreign currency. The U.S. dollar value of a foreign currency denominated security will decrease as the dollar </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">appreciates against the currency, while the U.S. dollar value will increase as the dollar depreciates against the currency.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Currency Hedging Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser may seek to hedge all or a portion of the Fund’s foreign currency risk. For example, the Fund may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">enter into foreign currency forward contracts to reduce the Fund’s exposure to foreign currency exchange rate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Fund agrees to receive or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. Forward foreign currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contracts are marked-to-market at the applicable forward rate. There is no guarantee that it will be practical to hedge </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">currency risks or that any efforts to do so will be successful. The use of foreign currency forward contracts is a highly </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">specialized activity that involves investment techniques and risks different from those associated with investments in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">more traditional securities and instruments, and there is no guarantee that the use of foreign currency forward contracts </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will achieve their intended result. If the Adviser is incorrect in its expectation of the timing or level of fluctuation in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities prices, currency prices, or other variables, the use of foreign currency forward contracts could result in losses, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which in some cases may be significant. A lack of correlation between changes in the value of foreign currency forward </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contracts and the value of the portfolio assets (if any) being hedged could also result in losses.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Artificial Intelligence Risks</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre;width:445.4pt">As computing technology and data analytics advance, there has been a trend towards machine driven and</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.4pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.49pt">artificially intelligent trading systems, particularly with respect to increasing levels of autonomy in trading decision</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.49pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.46pt">capabilities. Regulators of financial markets have become increasingly focused on the potential impact of artificial</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.46pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.45pt">intelligence (“AI”) on investment activities and may issue regulations that affect the use of artificial technology in</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.45pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.35pt">trading activities. Any such regulations may not have the effect on financial markets that regulators intend. The use of</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.35pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.44pt">AI and machine learning technologies (collectively, “AI Technologies”), and the overall adoption of AI Technologies</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.44pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.35pt">throughout society, create opportunities for the Fund and its portfolio companies, as well as new and unpredictable</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.35pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.35pt">competitive, operational, legal, and regulatory risks. The Fund uses, and plans to expand its use of, AI Technologies in</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.35pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:224.5pt">connection with its business and investment activities. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:287.5pt;position:var(--position);text-decoration:none;white-space:pre;width:195.56pt">The Fund’s portfolio companies and investment</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:483.06pt;position:var(--position);text-decoration:none;white-space:pre;width:61.4pt">s also use such</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.46pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.4pt">technologies, including, but not limited to, automation of operational tasks, identification of investment opportunities,</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.4pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:481.46pt">investment due diligence, and investment decision-making. The Fund and its portfolio companies continue to evaluate</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:544.46pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);text-align:justify;text-align-last:var(--justify);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:205.05pt">the rapidly evolving landscape of AI Technologies.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:268.05pt;position:var(--position);text-decoration:none;white-space:pre;width:2.5pt"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The increasingly widespread use of AI by issuers and market participants and investments in such technologies </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by issuers may significantly impact the economy, financial markets, and issuers. Malicious actors may also use AI for </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fraud, hacking, or market manipulation. Issuers that engage in AI-related businesses or that increasingly use these </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">technologies are particularly susceptible to the risks associated with AI and its rapid and unpredictable evolution, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including (but not limited to) market and business risks, technology and product risks, cybersecurity and data security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">risks, and intellectual property risks.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Cybersecurity Risk</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Cybersecurity incidents and cyber-attacks have been occurring globally at a more frequent and severe level and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will likely continue to increase in frequency in the future. The Adviser faces various security threats on a regular basis, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including ongoing cyber security threats to and attacks on its information technology infrastructure that are intended to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">gain access to its proprietary information, destroy data or disable, degrade or sabotage its systems. These security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">threats could originate from a wide variety of sources, including unknown third parties outside of the Adviser. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:505.61pt;position:var(--position);text-decoration:none;white-space:pre">Recent </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">geopolitical tensions may have increased the scale and sophistication of deliberate cyber attacks and other disruptions, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly from nation-states or entities with nation-state backing. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:334.58pt;position:var(--position);text-decoration:none;white-space:pre">Although the Adviser is not currently aware that it </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">has been subject to cyber-attacks or other cyber incidents which, individually or in the aggregate, have materially </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">affected its operations or financial condition, there can be no assurance that the various procedures and controls utilized </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to mitigate these threats will be sufficient to prevent disruptions to its systems.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre;width:54.1pt">Inflation Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Inflation risk is the risk that the value of certain assets or income from the Fund’s investments will be worth </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">less in the future as inflation decreases the value of money. As inflation increases, the real value of investments and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">distributions can decline. Therefore, the income generated by debt investments may not keep pace with inflation. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, during any periods of rising inflation, the dividend rates or borrowing costs associated with the Fund’s use of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">leverage would likely increase, which would tend to further reduce returns to shareholders. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:428.97pt;position:var(--position);text-decoration:none;white-space:pre">Furthermore, actions by </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">governments and central banking authorities can result in changes in interest rates. Periods of higher inflation could </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">cause such authorities to raise interest rates, and vice versa, which may adversely impact the Fund and its investments.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Interest Rate Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:123.44pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:179.26pt;position:var(--position);text-decoration:none;white-space:pre">, on a fair value basis, approximately </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:329.36pt;position:var(--position);text-decoration:none;white-space:pre">8.5%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:350.19pt;position:var(--position);text-decoration:none;white-space:pre"> of the Fund’s debt investments bear interest at a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:631.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fixed rate and approximately </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:180.62pt;position:var(--position);text-decoration:none;white-space:pre">91.5%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:206.45pt;position:var(--position);text-decoration:none;white-space:pre"> of the Fund’s debt investments bear interest at a floating rate, which primarily are </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">subject to interest rate floors. Interest rates on the investments held within the Fund’s portfolio of investments are </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">typically based on floating SOFR, with many of these investments also having a SOFR floor. Additionally, the Fund’s </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">credit facilities are also subject to floating interest rates and are currently paid based on floating EURIBOR, SOFR and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">SONIA rates.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">General interest rate fluctuations and changes in credit spreads on floating rate loans may have a substantial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">negative impact on the Fund’s investments and investment opportunities and, accordingly, may have a material adverse </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">effect on the Fund’s rate of return on invested capital, the Fund’s net investment income and the Fund’s NAV.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may be exposed to medium- to long-term spread duration securities. Longer spread duration </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities have a greater adverse price impact to increases in interest rates. Interest rate sensitivity is generally more </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">pronounced and less predictable in instruments with uncertain payment or prepayment schedules.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser regularly measures exposure to interest rate risk. Interest rate risk is assessed on an ongoing basis </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by comparing the Fund’s interest rate sensitive assets to its interest rate sensitive liabilities. Based on that review, the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Adviser determines whether or not any hedging transactions are necessary to mitigate exposure to changes in interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rates.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Payment-in-Kind (“PIK”) Income Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:199.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund may hold investments that result in PIK interest income or PIK dividends. PIK income creates the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">risk that incentive fees will be paid to the Adviser based on non-cash accruals that ultimately may not be realized, while </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the Adviser will be under no obligation to reimburse the Fund for these fees. PIK income may have a negative impact </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on liquidity, as it represents a non-cash component of the Fund’s taxable income that may require cash distributions to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shareholders in order to maintain the Fund’s ability to be subject to tax as a RIC. PIK income has the effect of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">generating investment income at a compounding rate, thereby further increasing the incentive fees payable to the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Adviser. Similarly, all things being equal, the deferral associated with PIK income also increases the loan-to-value ratio </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">at a compounding rate. The market prices of PIK securities generally are more volatile than the market prices of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest-bearing securities and are likely to respond to a greater degree to changes in interest rates than interest-bearing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities having similar maturities and credit quality. Because PIK income results in an increase in the size of the PIK </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities held, the Fund’s exposure to potential losses increases when a security pays PIK income.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Unitranche Loans</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Unitranche loans provide leverage levels comparable to a combination of first lien and second lien or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">subordinated loans. From the perspective of a lender, in addition to making a single loan, a unitranche loan may allow </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the lender to choose to participate in the “first out” tranche, which will generally receive priority with respect to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payments of principal, interest, and any other amounts due, or to choose to participate only in the “last out” tranche, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:415.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which is generally paid after the “first out” tranche is paid. The Fund intends to participate in “first out” and “last out” </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">tranches of unitranche loans and make single unitranche loans.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Regulatory Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Government regulation and/or intervention may change the way the Fund is regulated, affect the expenses </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">incurred directly by the Fund, affect the value of its investments and limit the Fund’s ability to achieve its investment </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">objective. Government regulation may change frequently and may have significant adverse consequences. Moreover, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">government regulation may have unpredictable and unintended effects. In addition to exposing the Fund to potential </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">new costs and expenses, additional regulation or changes to existing regulation may also require changes to the Fund’s </span></div>investment practices. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Credit risk relates to the ability of the borrower under an instrument to make interest and principal payments as </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">they become due. The Fund’s investments in loans and other debt instruments are subject to risk of missing an interest </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and/or principal payment.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Credit Spread Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:655.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Credit spread risk is the risk that credit spreads (i.e., the difference in yield between securities that is due to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:667.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">differences in their credit quality) may increase when the market expects below-investment-grade bonds to default more </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:679.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">frequently. Widening credit spreads may quickly reduce the market values of below-investment-grade and unrated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:691.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities. In recent years, the U.S. capital markets experienced extreme volatility and disruption following the spread </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:703.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of COVID-19, the impact of heightened geopolitical tensions (including those between the United States and China, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:715.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Taiwan and mainland China, Israel and Iran and the Axis of Resistance, and between Ukraine and Russia) and other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:727.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">economic disruptions, which increased the spread between yields realized on risk-free and higher risk securities, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">resulting in illiquidity in parts of the capital markets. Central banks and governments played a key role in reintroducing </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">liquidity to parts of the capital markets. Future exits of these financial institutions from the market may reintroduce </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">temporary illiquidity. These and future market disruptions and/or illiquidity would be expected to have an adverse effect </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on the Fund’s business, financial condition, results of operations, and cash flows.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Prepayment Risk </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Prepayment risk relates to the early repayment of principal on a loan or debt security. Loans are generally </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">callable at any time, and certain loans may be callable at any time at no premium to par. Having the loan or other debt </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instrument called early may have the effect of reducing the Fund’s actual investment income below its expected </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investment income if the capital returned cannot be invested in transactions with equal or greater yields.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Volatility Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Volatility risk refers to the magnitude of the movement, but not the direction of the movement, in a financial </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">instrument’s price over a defined time period. Large increases or decreases in a financial instrument’s price over a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">indicate lower volatility risk.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Equity Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">general market.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Foreign Exchange Rate Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in a foreign currency. The U.S. dollar value of a foreign currency denominated security will decrease as the dollar </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">appreciates against the currency, while the U.S. dollar value will increase as the dollar depreciates against the currency.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Currency Hedging Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:451.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Adviser may seek to hedge all or a portion of the Fund’s foreign currency risk. For example, the Fund may </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">enter into foreign currency forward contracts to reduce the Fund’s exposure to foreign currency exchange rate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Fund agrees to receive or </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. Forward foreign currency </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contracts are marked-to-market at the applicable forward rate. There is no guarantee that it will be practical to hedge </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">currency risks or that any efforts to do so will be successful. The use of foreign currency forward contracts is a highly </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">specialized activity that involves investment techniques and risks different from those associated with investments in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">more traditional securities and instruments, and there is no guarantee that the use of foreign currency forward contracts </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will achieve their intended result. If the Adviser is incorrect in its expectation of the timing or level of fluctuation in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities prices, currency prices, or other variables, the use of foreign currency forward contracts could result in losses, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:571.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which in some cases may be significant. A lack of correlation between changes in the value of foreign currency forward </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">contracts and the value of the portfolio assets (if any) being hedged could also result in losses.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Cybersecurity Risk</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:223.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Cybersecurity incidents and cyber-attacks have been occurring globally at a more frequent and severe level and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:235.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">will likely continue to increase in frequency in the future. The Adviser faces various security threats on a regular basis, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:247.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including ongoing cyber security threats to and attacks on its information technology infrastructure that are intended to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:259.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">gain access to its proprietary information, destroy data or disable, degrade or sabotage its systems. These security </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:271.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">threats could originate from a wide variety of sources, including unknown third parties outside of the Adviser. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:505.61pt;position:var(--position);text-decoration:none;white-space:pre">Recent </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:283.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">geopolitical tensions may have increased the scale and sophistication of deliberate cyber attacks and other disruptions, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:295.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">particularly from nation-states or entities with nation-state backing. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:334.58pt;position:var(--position);text-decoration:none;white-space:pre">Although the Adviser is not currently aware that it </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:307.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">has been subject to cyber-attacks or other cyber incidents which, individually or in the aggregate, have materially </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:319.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">affected its operations or financial condition, there can be no assurance that the various procedures and controls utilized </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to mitigate these threats will be sufficient to prevent disruptions to its systems.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">JPM Credit Facility</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">JPM Credit Facility</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:463.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The OCPC SPV closed on the JPM Credit Facility on May 5, 2021, which was most recently amended on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:475.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">June 2, 2025</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:113.82pt;position:var(--position);text-decoration:none;white-space:pre"> to increase the maximum principal. The maximum principal amount of the JPM Credit Facility is </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:487.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,050,000</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">, through financing commitments in tranches of advances (the “Tranche A Financing Commitment” and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:499.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">“Tranche B Financing Commitment”). Amounts available to borrow under the JPM Credit Facility is based on certain </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:511.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">advance rates multiplied by the value of the OCPC SPV’s portfolio investments (subject to certain concentration </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:523.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">limitations) and net of certain other indebtedness that the OCPC SPV may incur in accordance with the terms of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:535.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">JPM Credit Facility. Proceeds of the JPM Credit Facility may be used for general corporate purposes, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:547.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">funding of portfolio investments. The OCPC SPV may borrow amounts in U.S. dollars or certain other permitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:559.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">currencies.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:583.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The OCPC SPV may borrow amounts under any tranche of the financing commitment, each of which has a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:595.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">maximum principal amount and applicable interest rate. The OCPC SPV also pays an unused commitment fee of 0.60% </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:607.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">on undrawn amounts under the JPM Credit Facility and, in respect of each undrawn letter of credit, a fee and interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:619.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rate equal to the then-applicable margin under the JPM Credit Facility while the letter of credit is outstanding. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:643.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The table below presents the principal amount and interest rate of each tranche. </span></div><div style="position:var(--position);top:664.5pt;width:612pt"><div style="font-size:0pt;left:63pt;position:var(--position);width:476.25pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:66.75pt"></td><td style="padding:0;width:86.25pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:114pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:147pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:51pt"></td></tr><tr style="height:21.75pt"><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);width:66.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.22pt;width:66.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:14.13pt;position:var(--position);text-decoration:none;white-space:pre">Financing </span></div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:66.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:7.91pt;position:var(--position);text-decoration:none;white-space:pre">Commitment</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:66.75pt;position:var(--position);width:86.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.22pt;width:86.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:23.14pt;position:var(--position);text-decoration:none;white-space:pre">Maximum </span></div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:86.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.53pt;position:var(--position);text-decoration:none;white-space:pre">Principal Amount</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:156.75pt;position:var(--position);width:114pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:114pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:24.16pt;position:var(--position);text-decoration:none;white-space:pre">Currency Drawn</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:274.5pt;position:var(--position);width:147pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:147pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:44.18pt;position:var(--position);text-decoration:none;white-space:pre">Reference Rate</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:425.25pt;position:var(--position);width:51pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:51pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:11.76pt;position:var(--position);text-decoration:none;white-space:pre">Spread</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:21.75pt;width:66.75pt"><div><div style="line-height:10pt;position:var(--position);top:2.63pt;width:66.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre"> Tranche A</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:66.75pt;position:var(--position);top:21.75pt;width:86.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:86.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:46.13pt"></span></span><span style="left:53.260000000000005pt;position:var(--position)">750,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:156.75pt;position:var(--position);top:21.75pt;width:114pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:114pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">USD / Permitted Non-USD</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:274.5pt;position:var(--position);top:21.75pt;width:147pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:147pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Applicable Benchmark / Base Rate</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:425.25pt;position:var(--position);top:21.75pt;width:51pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.02pt;position:var(--position)"></span><span style="left:24.02pt;position:var(--position)">2.05<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.76pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:34.5pt;width:66.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre"> Tranche B</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:66.75pt;position:var(--position);top:34.5pt;width:86.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:86.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:50.63pt"></span></span><span style="left:53.260000000000005pt;position:var(--position)">300,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:156.75pt;position:var(--position);top:34.5pt;width:114pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:114pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">USD</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:274.5pt;position:var(--position);top:34.5pt;width:147pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:147pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Term SOFR / Applicable Base Rate</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="font-size:0;text-align:left;vertical-align:top"><div style="left:425.25pt;position:var(--position);top:34.5pt;width:51pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:24.02pt;position:var(--position)"></span><span style="left:24.02pt;position:var(--position)">2.05<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.76pt;position:var(--position)">%</span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:47.25pt;width:66.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:66.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:66.75pt;position:var(--position);top:47.25pt;width:86.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:86.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:39.38pt"></span></span><span style="left:46.510000000000005pt;position:var(--position)">1,050,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The reinvestment period under the JPM Credit Facility will terminate on </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:391.14pt;position:var(--position);text-decoration:none;white-space:pre">May 5, 2028</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:441.96pt;position:var(--position);text-decoration:none;white-space:pre">, and the JPM Credit </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Facility will mature on </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:156.76pt;position:var(--position);text-decoration:none;white-space:pre">May 5, 2029</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:207.58pt;position:var(--position);text-decoration:none;white-space:pre">. During the period from </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:308.06pt;position:var(--position);text-decoration:none;white-space:pre">May 5, 2028</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:358.88pt;position:var(--position);text-decoration:none;white-space:pre"> to </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:371.65pt;position:var(--position);text-decoration:none;white-space:pre">May 5, 2029</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:422.47pt;position:var(--position);text-decoration:none;white-space:pre">, the OCPC SPV will be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">obligated to make mandatory prepayments under the JPM Credit Facility out of the proceeds of certain asset sales, other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">recovery events and equity and debt issuances.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Subject to certain exceptions, the JPM Credit Facility is secured by a first lien security interest in substantially </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">all of the portfolio investments held by the OCPC SPV. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:287.53pt;position:var(--position);text-decoration:none;white-space:pre">The JPM Credit Facility includes customary covenants, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including certain financial covenants related to asset coverage, shareholders’ equity and liquidity, certain limitations on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the occurrence of additional indebtedness and liens, and other maintenance covenants, as well as usual and customary </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">events of default for senior secured revolving credit facilities of this nature. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:391.22pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:447.04pt;position:var(--position);text-decoration:none;white-space:pre">, the OCPC SPV was in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">compliance with all covenants and other requirements of the JPM Credit Facility.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:211.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The JPM Credit Facility consisted of the following as of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:326.55pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:382.37pt;position:var(--position);text-decoration:none;white-space:pre">:</span></div><div style="position:var(--position);top:232.5pt;width:612pt"><div style="font-size:0pt;left:79.5pt;position:var(--position);width:448.5pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:125.25pt"></td><td style="padding:0;width:78pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:78pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:78pt"></td><td style="padding:0;width:3.75pt"></td><td style="padding:0;width:78pt"></td></tr><tr style="height:21.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);width:78pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:78pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:13.14pt;position:var(--position);text-decoration:none;white-space:pre">Total Facility</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:207pt;position:var(--position);width:78pt"><div><div style="line-height:9pt;position:var(--position);top:3.22pt;width:78pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:16.51pt;position:var(--position);text-decoration:none;white-space:pre">Borrowings</span></div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:78pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:15.01pt;position:var(--position);text-decoration:none;white-space:pre">Outstanding</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:288.75pt;position:var(--position);width:78pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:78pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:4.77pt;position:var(--position);white-space:pre">Unused Portion</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:64.97pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre"> (1)</span></div></div></div></td><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:370.5pt;position:var(--position);width:78pt"><div><div style="line-height:9pt;position:var(--position);top:3.22pt;width:78pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:23.26pt;position:var(--position);white-space:pre">Amount</span></div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:78pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:16.23pt;position:var(--position);white-space:pre">Available </span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:bold;left:54.959999999999994pt;position:var(--position);top:-2.132pt;vertical-align:super;white-space:pre">(2)</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:21.75pt;width:125.25pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:125.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">JPM Credit Facility</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:125.25pt;position:var(--position);top:21.75pt;width:78pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:78pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:31.13pt"></span></span><span style="left:38.260000000000005pt;position:var(--position)">1,050,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:207pt;position:var(--position);top:21.75pt;width:78pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:78pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:37.88pt"></span></span><span style="left:45.010000000000005pt;position:var(--position)">691,176<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:288.75pt;position:var(--position);top:21.75pt;width:78pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:78pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:37.88pt"></span></span><span style="left:45.010000000000005pt;position:var(--position)">358,824<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:370.5pt;position:var(--position);top:21.75pt;width:78pt"><div><div style="line-height:9pt;position:var(--position);top:2.85pt;width:78pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:37.88pt"></span></span><span style="left:45.010000000000005pt;position:var(--position)">358,824<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:278pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:81pt;position:var(--position);text-decoration:none;white-space:pre">(1)</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Unused Portion is the Total Facility less Borrowings Outstanding, an amount upon which unused commitment fees are based </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:287.6pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">depending on daily spot and contract rates for CAD, EUR and GBP.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:300.2pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:81pt;position:var(--position);text-decoration:none;white-space:pre">(2)</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Amount Available for borrowing is based on the computation of collateral to support the borrowings less Borrowings Outstanding, </span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:309.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">and is subject to compliance with applicable covenants and financial ratios.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:331.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:123.44pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:179.26pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:184.26pt;position:var(--position);text-decoration:none;white-space:pre">$9,714</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:211.76pt;position:var(--position);text-decoration:none;white-space:pre"> of interest expense and </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:308.59000000000003pt;position:var(--position);text-decoration:none;white-space:pre">$652</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:328.59000000000003pt;position:var(--position);text-decoration:none;white-space:pre"> of unused commitment fees and administration fees </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:343.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">were included in interest payable on borrowings in the Consolidated Statement of Assets and Liabilities.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:367.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">During the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:144.52pt;position:var(--position);text-decoration:none;white-space:pre">six-month period ended</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:239.44pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:241.94pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:297.76pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund had borrowings on the JPM Credit Facility of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:379.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:68pt;position:var(--position);text-decoration:none;white-space:pre">260,000</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:100.5pt;position:var(--position);text-decoration:none;white-space:pre"> and repayments of $</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:184.31pt;position:var(--position);text-decoration:none;white-space:pre">260,000</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:216.81pt;position:var(--position);text-decoration:none;white-space:pre">. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:246.25pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:302.07pt;position:var(--position);text-decoration:none;white-space:pre">, there were </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:351.44pt;position:var(--position);text-decoration:none;white-space:pre">$691,176</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:388.94pt;position:var(--position);text-decoration:none;white-space:pre"> in borrowings on the JPM Credit </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:391.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Facility outstanding. For the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:178.72pt;position:var(--position);text-decoration:none;white-space:pre">six-month period ended</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:273.64pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:276.14pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:331.96pt;position:var(--position);text-decoration:none;white-space:pre">, the weighted average interest rate, inclusive of fees, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:403.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">was </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:81.03999999999999pt;position:var(--position);text-decoration:none;white-space:pre">5.89%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:106.87pt;position:var(--position);text-decoration:none;white-space:pre"> and the average principal debt outstanding was </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:299.41999999999996pt;position:var(--position);text-decoration:none;white-space:pre">$701,188</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:336.92pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:427.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">For the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:130.09pt;position:var(--position);text-decoration:none;white-space:pre">six-month period ended</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:225.01pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:227.51pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:283.33000000000004pt;position:var(--position);text-decoration:none;white-space:pre">, the OCPC SPV incurred $</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:393.26pt;position:var(--position);text-decoration:none;white-space:pre">20,773</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:420.76pt;position:var(--position);text-decoration:none;white-space:pre"> of interest expense, unused </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:439.4pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">commitment fees, and administration fees, and $</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:257.2pt;position:var(--position);text-decoration:none;white-space:pre">1,359</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:279.7pt;position:var(--position);text-decoration:none;white-space:pre"> of amortization of deferred financing costs.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:287.53pt;position:var(--position);text-decoration:none;white-space:pre">The JPM Credit Facility includes customary covenants, </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">including certain financial covenants related to asset coverage, shareholders’ equity and liquidity, certain limitations on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the occurrence of additional indebtedness and liens, and other maintenance covenants, as well as usual and customary </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:175.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">events of default for senior secured revolving credit facilities of this nature. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:391.22pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:447.04pt;position:var(--position);text-decoration:none;white-space:pre">, the OCPC SPV was in </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:187.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">compliance with all covenants and other requirements of the JPM Credit Facility.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Axos Note-On-Note Loan</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:italic;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Axos Note-On-Note Loan</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:369.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">On March 5, 2024, CTAC Bedford entered into a loan and security agreement with Axos Bank for a secured </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:381.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">loan with a maximum principal amount of $30,291,471. Concurrently, CTAC Bedford, along with several other co-</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:393.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">investors, made mortgage loans in the aggregate maximum principal amount of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:382.63pt;position:var(--position);text-decoration:none;white-space:pre">$140,000,000</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:437.63pt;position:var(--position);text-decoration:none;white-space:pre"> to Bedford Beverly B </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:405.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">LLC (the “Bedford Loan”) for developing a 7-story mixed-use building comprised of rental apartment units, parking, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:417.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and retail spaces in Brooklyn, New York (the “Project”). The Bedford Loan was advanced by CTAC Bedford, and other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:429.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">co-investors, to pay for costs in connection with the construction, development, operation, and maintenance of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:441.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Project. The Axos Note-on-Note Loan was designed to reimburse CTAC Bedford for its periodic advances of its </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:453.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Bedford Loan to Bedford Beverly B LLC. The Axos Note-on-Note Loan was secured by a first priority security interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:465.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">in CTAC Bedford’s interest in the Bedford Loan and a pledge by the Fund’s 100% membership interest in CTAC </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:477.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Bedford.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:501.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The interest on the outstanding principal balance of the Axos Note-on-Note Loan accrued at a per annum rate </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:513.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the greater of (i) Term SOFR plus 4.50%, and (ii) 8.00%. The Axos Note-on-Note Loan had an initial maturity </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:525.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">date of September 2, 2026. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:549.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Effective March 3, 2026, the Fund’s investment in the Bedford Loan was fully repaid along with the Axos </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:561.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Note-on-Note Loan.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:585.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">During the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:144.52pt;position:var(--position);text-decoration:none;white-space:pre">six-month period ended</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:239.44pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:241.94pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:297.76pt;position:var(--position);text-decoration:none;white-space:pre">, CTAC Bedford incurred </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:402.94pt;position:var(--position);text-decoration:none;white-space:pre">$424</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:422.94pt;position:var(--position);text-decoration:none;white-space:pre"> of interest expense and </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.77pt;position:var(--position);text-decoration:none;white-space:pre">$40</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:534.77pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:597.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of amortization of deferred financing costs, which are included in interest expense and fees on borrowings in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:609.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Operations. Given the repayment during the year, no interest expense payable or outstanding </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:621.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">balance was included in the Consolidated Statement of Assets and Liabilities as of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:394.52pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:450.34pt;position:var(--position);text-decoration:none;white-space:pre">. For the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:486.43pt;position:var(--position);text-decoration:none;white-space:pre">six-month </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:633.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">period ended</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:114.89pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:117.39pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:173.20999999999998pt;position:var(--position);text-decoration:none;white-space:pre">, the weighted average interest rate, inclusive of fees, was </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:405.94pt;position:var(--position);text-decoration:none;white-space:pre">8.88%</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:431.77pt;position:var(--position);text-decoration:none;white-space:pre"> and the average principal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:645.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">debt outstanding was </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:149.87pt;position:var(--position);text-decoration:none;white-space:pre">$16,378</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:182.37pt;position:var(--position);text-decoration:none;white-space:pre">.</span></div> 140000000 <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:63pt;position:var(--position);text-decoration:none;white-space:pre">8</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:bold;left:68pt;position:var(--position);text-decoration:none;white-space:pre">. MANDATORY REDEEMABLE PREFERRED SHARES</span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:693.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund authorized and issued thirteen series of preferred shares, with a $0.001 par value per share and a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:705.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">liquidation preference of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:164.25pt;position:var(--position);text-decoration:none;white-space:pre">$25.00</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:191.75pt;position:var(--position);text-decoration:none;white-space:pre"> per share, classified and designated as </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:348.77pt;position:var(--position);text-decoration:none;white-space:pre">Series A Mandatory Redeemable Preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:717.8pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:89.64pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series A MRP Shares”), </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:214.24pt;position:var(--position);text-decoration:none;white-space:pre">Series B Mandatory Redeemable Preferred Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:414.82pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series B MRP Shares”), </span></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Series C Mandatory Redeemable Preferred Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:263.58000000000004pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series C MRP Shares”), </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:387.62pt;position:var(--position);text-decoration:none;white-space:pre">Series D Mandatory Redeemable </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Preferred Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:129.31pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series D MRP Shares”), </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:253.91pt;position:var(--position);text-decoration:none;white-space:pre">Series E Mandatory Redeemable Preferred Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:453.93pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series E MRP </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Shares”), </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:102.4pt;position:var(--position);text-decoration:none;white-space:pre">Series F Mandatory Redeemable Preferred Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:301.88pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series F MRP Shares”), </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:424.82pt;position:var(--position);text-decoration:none;white-space:pre">Series G Mandatory </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:103.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Redeemable Preferred Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:181.16pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series G MRP Shares”), Series H Mandatory Redeemable Preferred Shares (the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:115.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">“Series H MRP Shares”), Series I Mandatory Redeemable Preferred Shares (the “Series I MRP Shares”), Series J </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:127.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Mandatory Redeemable Preferred Shares (the “Series J MRP Shares”), Series K Mandatory Redeemable Preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:139.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Shares (the “Series K MRP Shares”), Series L Mandatory Redeemable Preferred Shares (the “Series L MRP Shares”), </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:151.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">and </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:79.93pt;position:var(--position);text-decoration:none;white-space:pre">Series M Mandatory Redeemable Preferred Shares</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:282.74pt;position:var(--position);text-decoration:none;white-space:pre"> (the “Series M MRP Shares” and together the “MRP Shares”). </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:163.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">The following table summarizes the details of the Fund’s MRP Shares.</span></div><div style="position:var(--position);top:187.5pt;width:612pt"><div style="font-size:0pt;left:63pt;position:var(--position);width:480pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:89.25pt"></td><td style="padding:0;width:56.25pt"></td><td style="padding:0;width:56.25pt"></td><td style="padding:0;width:56.25pt"></td><td style="padding:0;width:50.25pt"></td><td style="padding:0;width:59.25pt"></td><td style="padding:0;width:51.75pt"></td><td style="padding:0;width:60.75pt"></td></tr><tr style="height:30.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:16.38pt;position:var(--position);text-decoration:none;white-space:pre">Initial </span></div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:11.63pt;position:var(--position);text-decoration:none;white-space:pre">Issuance </span></div><div style="line-height:9pt;position:var(--position);top:21.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:19.14pt;position:var(--position);text-decoration:none;white-space:pre">Date</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:16.38pt;position:var(--position);text-decoration:none;white-space:pre">Initial </span></div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:11.88pt;position:var(--position);text-decoration:none;white-space:pre">Funding </span></div><div style="line-height:9pt;position:var(--position);top:21.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:19.14pt;position:var(--position);text-decoration:none;white-space:pre">Date</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:4.65pt;position:var(--position);text-decoration:none;white-space:pre">Redemption </span></div><div style="line-height:9pt;position:var(--position);top:21.22pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:19.14pt;position:var(--position);text-decoration:none;white-space:pre">Date</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:7.63pt;position:var(--position);text-decoration:none;white-space:pre">Dividend </span></div><div style="line-height:9pt;position:var(--position);top:21.22pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:16.14pt;position:var(--position);text-decoration:none;white-space:pre">Rate</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:18.38pt;position:var(--position);text-decoration:none;white-space:pre">Share </span></div><div style="line-height:9pt;position:var(--position);top:21.22pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:13.89pt;position:var(--position);text-decoration:none;white-space:pre">Amount</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.03pt;position:var(--position);text-decoration:none;white-space:pre">Price Per </span></div><div style="line-height:9pt;position:var(--position);top:21.22pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:14.63pt;position:var(--position);text-decoration:none;white-space:pre">Share</span></div></div></div></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:21.22pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:8.51pt;position:var(--position);text-decoration:none;white-space:pre">Total Raise</span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:30.75pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series A MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:30.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">3/7/2022</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:30.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:13.36pt;position:var(--position);white-space:pre">3/7/2022</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:normal;left:45.36pt;position:var(--position);top:-2.184pt;vertical-align:super;white-space:pre"> (1)</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:30.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">3/7/2027</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:30.75pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">3.66<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:30.75pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">6,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:30.75pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:20.63pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:30.75pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:20.63pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">150,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:43.5pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series B MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:43.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">3/7/2022</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:43.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:13.36pt;position:var(--position);white-space:pre">3/7/2022</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:normal;left:45.36pt;position:var(--position);top:-2.184pt;vertical-align:super;white-space:pre"> (2)</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:43.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">3/7/2029</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:43.5pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">3.90<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:43.5pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">2,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:43.5pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:43.5pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.63pt"></span></span><span style="left:32.26pt;position:var(--position)">50,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:56.25pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series C MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:56.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">9/1/2022</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:56.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:13.36pt;position:var(--position);white-space:pre">9/1/2022</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:normal;left:45.36pt;position:var(--position);top:-2.184pt;vertical-align:super;white-space:pre"> (3)</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:56.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">9/1/2027</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:56.25pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">6.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:56.25pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">4,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:56.25pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:56.25pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:69pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series D MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:69pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">6/14/2023</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:69pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">10/2/2023</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:69pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">10/2/2026</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:69pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">7.02<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:69pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">2,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:69pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:69pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.63pt"></span></span><span style="left:32.26pt;position:var(--position)">50,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:81.75pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series E MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:81.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">6/14/2023</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:81.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">10/2/2023</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:81.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">10/2/2028</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:81.75pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">7.07<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:81.75pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">2,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:81.75pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:81.75pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.63pt"></span></span><span style="left:32.26pt;position:var(--position)">50,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:94.5pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series F MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:94.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">5/16/2024</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:94.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:12.62pt;position:var(--position);text-decoration:none;white-space:pre">11/18/2024</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:94.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:12.62pt;position:var(--position);text-decoration:none;white-space:pre">11/16/2027</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:94.5pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">6.55<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:94.5pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">2,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:94.5pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:94.5pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.63pt"></span></span><span style="left:32.26pt;position:var(--position)">50,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:107.25pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series G MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:107.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">5/16/2024</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:107.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">9/16/2024</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:107.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">9/17/2029</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:107.25pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">6.60<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:107.25pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">4,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:107.25pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:107.25pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:120pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series H MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:120pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">5/16/2024</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:120pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">9/16/2024</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:120pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">9/16/2031</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:120pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">6.75<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:120pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">4,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:120pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:120pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:132.75pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series I MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:132.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">3/20/2025</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:132.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">9/8/2025</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:132.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">9/9/2030</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:132.75pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">5.84<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:132.75pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">4,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:132.75pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:132.75pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:145.5pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series J MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:145.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">3/20/2025</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:145.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">9/8/2025</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:145.5pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">9/8/2032</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:145.5pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">6.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:145.5pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">4,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:145.5pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:145.5pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:158.25pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series K MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:158.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">3/20/2025</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:158.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">4/2/2025</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:158.25pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:21.62pt;position:var(--position);text-decoration:none;white-space:pre">4/2/2035</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:158.25pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">6.11<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:158.25pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">4,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:158.25pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:158.25pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:171pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series L MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:171pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">3/11/2026</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:171pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">3/11/2026</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:171pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">3/12/2029</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:171pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">5.18<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:171pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">4,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:171pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:171pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:12.75pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:183.75pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Series M MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:89.25pt;position:var(--position);top:183.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">3/11/2026</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:145.5pt;position:var(--position);top:183.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">6/23/2026</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:201.75pt;position:var(--position);top:183.75pt;width:56.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:56.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:17.12pt;position:var(--position);text-decoration:none;white-space:pre">6/23/2036</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:258pt;position:var(--position);top:183.75pt;width:50.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:50.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:23.27pt;position:var(--position)"></span><span style="left:23.27pt;position:var(--position)">6.09<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span><span style="left:42.01pt;position:var(--position)">%</span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:308.25pt;position:var(--position);top:183.75pt;width:59.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:59.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:16.88pt"></span></span><span style="left:19.509999999999998pt;position:var(--position)">2,000,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:367.5pt;position:var(--position);top:183.75pt;width:51.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:51.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:25.13pt"></span></span><span style="left:27.759999999999998pt;position:var(--position)">25.00<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td><td style="background-color:#cceeff;border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:183.75pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:29.63pt"></span></span><span style="left:32.26pt;position:var(--position)">50,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:15.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:196.5pt;width:89.25pt"><div><div style="line-height:9pt;position:var(--position);top:6.07pt;width:89.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Total</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:419.25pt;position:var(--position);top:196.5pt;width:60.75pt"><div><div style="line-height:9pt;position:var(--position);top:6.07pt;width:60.75pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:13.88pt"></span></span><span style="left:21.009999999999998pt;position:var(--position)">1,100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:407.75pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(1)</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:81pt;position:var(--position);text-decoration:none;white-space:pre">$38 million funded on March 7, 2022 and $112 million funded on May 11, 2022.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:420.35pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(2)</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:81pt;position:var(--position);text-decoration:none;white-space:pre">$12 million funded on March 7, 2022 and $38 million funded on May 11, 2022.</span></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:432.95pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(3)</span><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:81pt;position:var(--position);text-decoration:none;white-space:pre">$75 million funded on September 1, 2022 and $25 million funded on November 9, 2022.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:454.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:538.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:634.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">amortization of deferred issuance costs related to the MRP Shares. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:658.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The Fund entered into interest rate swap contracts to better align the interest rates of its MRP Shares with the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:670.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s investment portfolio, which consists of predominately floating rate loans. The notional amount of the interest </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:682.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">rate swaps is </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:116.55pt;position:var(--position);text-decoration:none;white-space:pre">$900,000</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:154.05pt;position:var(--position);text-decoration:none;white-space:pre"> and matches the applicable maturity dates; see Note 4, Derivative Instruments, for MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:694.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">hedging details.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:126.25999999999999pt;position:var(--position);text-decoration:none;white-space:pre"> </span></div></div><div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The table below summarizes the swap adjusted interest expense for the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:385.02pt;position:var(--position);text-decoration:none;white-space:pre">six-month period ended</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.94pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:482.44pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:538.26pt;position:var(--position);text-decoration:none;white-space:pre">, </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">which is included </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:135.98000000000002pt;position:var(--position);text-decoration:none;white-space:pre">as a component of interest expense and fees on borrowings in the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations.</span></div><div style="position:var(--position);top:112.5pt;width:612pt"><div style="font-size:0pt;left:100.5pt;position:var(--position);width:406.5pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:290.25pt"></td><td style="padding:0;width:116.25pt"></td></tr><tr style="height:21.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:290.25pt;position:var(--position);width:116.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.22pt;width:116.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:7.41pt;position:var(--position);text-decoration:none;white-space:pre">For the Six Months Ended </span></div><div style="line-height:9pt;position:var(--position);top:12.22pt;width:116.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:32pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:21.75pt;width:290.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:290.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends paid on MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:290.25pt;position:var(--position);top:21.75pt;width:116.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:116.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:80.63pt"></span></span><span style="left:87.75999999999999pt;position:var(--position)">29,044<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:36pt;width:290.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:290.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Amortization of deferred financing costs</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:290.25pt;position:var(--position);top:36pt;width:116.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:116.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:89.63pt"></span></span><span style="left:92.25999999999999pt;position:var(--position)">1,016<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:50.25pt;width:290.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:290.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Net proceeds paid (received) from interest rate swaps designated as a hedge</span></div></div></div></td><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="left:290.25pt;position:var(--position);top:50.25pt;width:116.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:116.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:93.39pt"></span></span><span style="left:96.02pt;position:var(--position)">(255)</span></span></div></div></div></td></tr><tr style="height:21.75pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:64.5pt;width:290.25pt"><div><div style="line-height:9pt;position:var(--position);top:3.07pt;width:290.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Fair value change difference between (a) interest rate swaps while designated </span></div><div style="line-height:9pt;position:var(--position);top:12.07pt;width:290.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">as a hedge and (b) the hedged risk on the MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:290.25pt;position:var(--position);top:64.5pt;width:116.25pt"><div><div style="line-height:9pt;position:var(--position);top:12.07pt;width:116.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:96.38pt"></span></span><span style="left:99.00999999999999pt;position:var(--position)">804<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:86.25pt;width:290.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:290.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Swap adjusted interest expense on MRP Shares</span></div></div></div></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:290.25pt;position:var(--position);top:86.25pt;width:116.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:116.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:80.63pt"></span></span><span style="left:87.75999999999999pt;position:var(--position)">30,609<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:232.626pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre">As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:123.44pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:179.26pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:184.26pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre">$6,146</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:211.76pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre"> of accrued dividends on MRP Shares, </span><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:367.75pt;position:var(--position);text-decoration:none;top:-2.364pt;white-space:pre">less</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:381.24pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre"> a net </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:405.37pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre">benefit</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:433.1pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre"> of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:446.43pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre">$1,686</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:473.93pt;position:var(--position);text-decoration:none;top:-2.626pt;white-space:pre"> related to </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:242pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">interest rate swaps designated as a hedge, were included in interest payable on borrowings in the Consolidated </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:254pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Statement of Assets and Liabilities.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:278pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:302pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:110.5pt;position:var(--position);text-decoration:none;white-space:pre"> T</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:119.1pt;position:var(--position);text-decoration:none;white-space:pre">he table below summarizes the components of the carrying value of the MRP Shares.</span></div><div style="position:var(--position);top:323pt;width:612pt"><div style="font-size:0pt;left:153pt;position:var(--position);width:301.5pt"><div><table style="border-collapse:collapse;display:inline-table;width:100%"><tbody><tr style="height:0"><td style="padding:0;width:170.25pt"></td><td style="padding:0;width:131.25pt"></td></tr><tr style="height:15.75pt"><td style="font-size:0;text-align:left;vertical-align:top"></td><td style="border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:170.25pt;position:var(--position);width:131.25pt"><div><div style="line-height:9pt;position:var(--position);top:6.22pt;width:131.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:bold;left:28.51pt;position:var(--position);text-decoration:none;white-space:pre">As of June 30, 2026</span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:15.75pt;width:170.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:170.25pt"><span style="font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);white-space:pre">Liquidation preference</span><span style="font-family:'Times New Roman', serif;font-size:5.8500000000000005pt;font-style:normal;font-weight:normal;left:84.78pt;position:var(--position);top:-2.184pt;vertical-align:super;white-space:pre"> (1)</span></div></div></div></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:170.25pt;position:var(--position);top:15.75pt;width:131.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:131.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:84.38pt"></span></span><span style="left:91.50999999999999pt;position:var(--position)">1,100,000<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:30pt;width:170.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:170.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Less: Unamortized deferred issuance costs</span></div></div></div></td><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="left:170.25pt;position:var(--position);top:30pt;width:131.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:131.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:101.64pt"></span></span><span style="left:104.27pt;position:var(--position)">(6,068)</span></span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#cceeff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:44.25pt;width:170.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:170.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:2.63pt;position:var(--position);text-decoration:none;white-space:pre">Plus: Hedge basis adjustment</span></div></div></div></td><td style="background-color:#cceeff;border-bottom:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:170.25pt;position:var(--position);top:44.25pt;width:131.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:131.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)"><span style="display:inline-block;height:6.24pt;width:97.14pt"></span></span><span style="left:99.77pt;position:var(--position)">(11,237)</span></span></div></div></div></td></tr><tr style="height:14.25pt"><td style="background-color:#ffffff;font-size:0;text-align:left;vertical-align:top"><div style="position:var(--position);top:58.5pt;width:170.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:170.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;left:8.63pt;position:var(--position);text-decoration:none;white-space:pre">Carrying value of MRP Shares</span></div></div></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:0.5pt solid #000;font-size:0;text-align:left;vertical-align:top"><div style="left:170.25pt;position:var(--position);top:58.5pt;width:131.25pt"><div><div style="line-height:9pt;position:var(--position);top:4.57pt;width:131.25pt"><span style="color:#000000;font-family:'Times New Roman', serif;font-size:9pt;font-style:normal;font-weight:normal;text-decoration:none;white-space:pre"><span style="left:2.63pt;position:var(--position)">$<span style="display:inline-block;height:6.24pt;width:84.38pt"></span></span><span style="left:91.50999999999999pt;position:var(--position)">1,082,695<span style="display:inline-block;height:6.24pt;width:2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size:12pt;line-height:8pt;position:var(--position);top:411.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:8pt;font-style:normal;font-weight:normal;left:196.92pt;position:var(--position);text-decoration:none;white-space:pre">(1) Based on outstanding funded MRP Shares as of the period end.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:433.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The outstanding shares of MRP Shares are subject to redemption at any time by notice of such redemption on a </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:445.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">date selected by the Fund for such redemption (the “Redemption Date”). If the Fund elects to cause the redemption of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:457.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">the MRP Shares, each MRP Share will be redeemed for a price equal to 100% of such share’s Liquidation Value, plus </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:469.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">an amount equal to accumulated but unpaid dividends and other distributions on the MRP Shares (whether or not earned </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:481.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">or declared by the Fund, but excluding interest thereon), to, but excluding, the Redemption Date, plus the amount equal </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:493.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to the excess, if any, of the discounted value of the remaining scheduled payments with respect to the Liquidation Value </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:505.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">of such MRP Share over the amount of such Liquidation Value; provided, however, the Fund may, at its option (i) </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:517.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">redeem the MRP Shares within 90 days prior to the Term Redemption Date of each series of MRP Shares, at the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:529.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Liquidation Value plus accumulated but unpaid dividends and distributions thereon (whether or not earned or declared </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:541.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the Fund, but excluding interest thereon) to, but excluding the Term Redemption Date.</span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:565.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:348.77pt;position:var(--position);text-decoration:none;white-space:pre">Series A Mandatory Redeemable Preferred </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:214.24pt;position:var(--position);text-decoration:none;white-space:pre">Series B Mandatory Redeemable Preferred Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Series C Mandatory Redeemable Preferred Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:387.62pt;position:var(--position);text-decoration:none;white-space:pre">Series D Mandatory Redeemable </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Preferred Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:253.91pt;position:var(--position);text-decoration:none;white-space:pre">Series E Mandatory Redeemable Preferred Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:102.4pt;position:var(--position);text-decoration:none;white-space:pre">Series F Mandatory Redeemable Preferred Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:424.82pt;position:var(--position);text-decoration:none;white-space:pre">Series G Mandatory </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Redeemable Preferred Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:79.93pt;position:var(--position);text-decoration:none;white-space:pre">Series M Mandatory Redeemable Preferred Shares</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">Each holder of MRP Shares is entitled to a liquidation preference of $25.00 per share (the “Liquidation </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:466.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Value”), plus an amount equal to all accumulated and unpaid dividends thereon (whether or not earned or declared but </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:478.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">without interest) to the date payment of such distribution is made in full. With respect to distributions, including the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:490.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">payment of dividends and distribution of the Fund’s assets upon dissolution, liquidation or winding up, the MRP Shares </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:502.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">are senior to all other classes and series of common shares of beneficial interest and rank on parity with any other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:514.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">preferred shares.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The holders of MRP Shares are entitled to receive quarterly cumulative cash dividends, at the rate per annum </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:550.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">equal to the Dividend Rate of each series of MRP Shares, with certain adjustments for changes in a series' rating </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:562.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">(collectively, the “Applicable Rate”). Dividends on MRP Shares accumulate from and include the original issue date. </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:574.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Dividends on the MRP Shares are accrued daily, payable quarterly, and are included in Interest expense and fees on </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:586.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">borrowings on the Consolidated Statement of Operations. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:295.56pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:479.89pt;position:var(--position);text-decoration:none;white-space:pre">, </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:484.89pt;position:var(--position);text-decoration:none;white-space:pre">$29,044</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:517.39pt;position:var(--position);text-decoration:none;white-space:pre"> </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:519.89pt;position:var(--position);text-decoration:none;white-space:pre">of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:598.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividend expense was included in interest expense and fees on borrowings on the Consolidated Statement of </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:610.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Operations. Costs incurred in connection with the issuance of the MRP Shares are being amortized to expense over the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:622.55pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">life of each series of MRP Shares. </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:201.74pt;position:var(--position);text-decoration:none;white-space:pre">For the six-month period ended June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:386.07pt;position:var(--position);text-decoration:none;white-space:pre">, the Fund recorded </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:466.28pt;position:var(--position);text-decoration:none;white-space:pre">$1,016</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:493.78pt;position:var(--position);text-decoration:none;white-space:pre"> of </span></div>amortization of deferred issuance costs related to the MRP Shares. <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are recorded net of unamortized deferred issuance costs and included as a liability on the </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:290pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Consolidated Statement of Assets and Liabilities. As of </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:286.90999999999997pt;position:var(--position);text-decoration:none;white-space:pre">June 30, 2026</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:342.73pt;position:var(--position);text-decoration:none;white-space:pre">, the </span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:362.43pt;position:var(--position);text-decoration:none;white-space:pre">carrying value of the MRP Shares was </span></div><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">$1,082,695</span><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:108pt;position:var(--position);text-decoration:none;white-space:pre">.</span> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div> <span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:99pt;position:var(--position);text-decoration:none;white-space:pre">The MRP Shares are not convertible into any other class or series of shares. Except for matters which do not </span><div style="font-size:12pt;line-height:10pt;position:var(--position);top:577.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">require the vote of holders of MRP Shares under the Investment Company Act and except as otherwise provided in the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:589.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Fund’s Declaration of Trust or bylaws, or as otherwise required by applicable law, each holder of MRP Shares shall be </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:601.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">entitled to one vote for each MRP Share held on each matter submitted to a vote of shareholders of the Fund, and </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:613.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of outstanding preferred shares and common shares shall vote together as a single class on all matters submitted </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:625.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">to shareholders. However, the holders of outstanding preferred shares shall be entitled, as a class, to the exclusion of the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:637.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">holders of shares of all other classes of beneficial interests of the Fund, to elect two Trustees of the Fund at all times. In </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:649.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">addition, the holders of the outstanding preferred shares and common shares, voting together as a single class, shall </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:661.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">elect the balance of the Trustees. However, the number of Trustees constituting the Board shall automatically increase </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:673.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">by the smallest number that, when added to the two Trustees elected exclusively by the holders of outstanding preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:685.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares would constitute a majority of the Board as so increased by such smallest number, and the holders of preferred </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:697.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">shares shall be entitled, voting as a class on a one vote per share basis (to the exclusion of the holders of all other </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:709.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">securities and classes of shares of the Fund), to elect such smallest number of additional Trustees, together with the two </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:721.15pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Trustees that such holders are in any event entitled to elect if: (i) at the close of business on any dividend payment date </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:67.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">accumulated dividends (whether or not earned or declared) on preferred shares equal to at least two full years’ </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:79.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">dividends shall be due and unpaid; or (ii) if at any time holders of any shares of preferred shares are entitled under the </span></div><div style="font-size:12pt;line-height:10pt;position:var(--position);top:91.5pt;width:612pt"><span style="font-family:'Times New Roman', serif;font-size:10pt;font-style:normal;font-weight:normal;left:63pt;position:var(--position);text-decoration:none;white-space:pre">Investment Company Act, to elect a majority of the Trustees of the Fund.</span></div>