0001653384 2025-03-17 0001653384 2024-06-30 0001653384 2024-03-31 0001653384 2023-09-30 0001653384 2023-06-30 0001653384 2023-03-31 0001653384 2022-09-30 0001653384 2022-06-30 0001653384 2022-03-31 0001653384 rway:Notes2027Member 2024-09-30 0001653384 rway:Notes2026Member 2024-09-30 0001653384 rway:CreditFacilityMember 2024-09-30 0001653384 2024-09-30 0001653384 rway:Notes2027Member 2023-12-31 0001653384 rway:Notes2026Member 2023-12-31 0001653384 rway:CreditFacilityMember 2023-12-31 0001653384 2023-12-31 0001653384 rway:Notes2027Member 2022-12-31 0001653384 rway:Notes2026Member 2022-12-31 0001653384 rway:CreditFacilityMember 2022-12-31 0001653384 2022-12-31 0001653384 rway:Notes2026Member 2021-12-31 0001653384 rway:CreditFacilityMember 2021-12-31 0001653384 2021-12-31 0001653384 rway:CreditFacilityMember 2020-12-31 0001653384 2020-12-31 0001653384 rway:CreditFacilityMember 2019-12-31 0001653384 2019-12-31 0001653384 rway:CreditFacilityCbicMember 2018-12-31 0001653384 2018-12-31 0001653384 rway:CommonShares1Member 2026-05-27 2026-05-27 0001653384 rway:OurSharesOfCommonStockHaveTradedAtDiscountFromNetAssetValueAndMayDoSoInFutureWhichCouldLimitOurAbilityToRaiseAdditionalEquityCapitalMember 2026-05-27 2026-05-27 0001653384 rway:OurCreditRatingsMayNotReflectAllRisksOfInvestmentInNotesMember 2026-05-27 2026-05-27 0001653384 rway:OptionalRedemptionProvisionMayMateriallyAdverselyAffectYourReturnOnNotesMember 2026-05-27 2026-05-27 0001653384 rway:NotesWillBeUnsecuredAndThereforeWillBeEffectivelySubordinatedToAnySecuredIndebtednessWeHaveCurrentlyIncurredOrMayIncurInFutureMember 2026-05-27 2026-05-27 0001653384 rway:NotesWillBeStructurallySubordinatedToIndebtednessAndOtherLiabilitiesOfOurSubsidiariesMember 2026-05-27 2026-05-27 0001653384 rway:NoActiveTradingMarketForNotes.IfActiveTradingMarketDoesNotDevelopForNotesYouMayNotBeAbleToSellThemMember 2026-05-27 2026-05-27 0001653384 rway:MayNotBeAbleToRepurchaseNotesUponChangeOfControlRepurchaseEventMember 2026-05-27 2026-05-27 0001653384 rway:IndentureUnderWhichNotesWillBeIssuedContainsLimitedProtectionForHoldersOfNotesMember 2026-05-27 2026-05-27 0001653384 rway:IfWeDefaultOnOurObligationsToPayOurOtherIndebtednessWeMayNotBeAbleToMakePaymentsOnNotesMember 2026-05-27 2026-05-27 0001653384 rway:FatcaWithholdingMayApplyToPaymentsToCertainForeignEntities.Member 2026-05-27 2026-05-27 0001653384 rway:PreferredSharesMember 2026-05-27 2026-05-27 0001653384 rway:CommonShares1Member 2025-03-14 2025-03-14 0001653384 2025-03-19 2025-03-19 0001653384 2025-03-17 2025-03-17 0001653384 2025-01-01 2025-03-17 0001653384 2024-10-01 2024-12-31 0001653384 2024-07-01 2024-09-30 0001653384 2024-04-01 2024-06-30 0001653384 2024-01-01 2024-03-31 0001653384 2023-10-01 2023-12-31 0001653384 2023-07-01 2023-09-30 0001653384 2023-04-01 2023-06-30 0001653384 2023-01-01 2023-03-31 0001653384 2022-10-01 2022-12-31 0001653384 2022-07-01 2022-09-30 0001653384 2022-04-01 2022-06-30 0001653384 2022-01-01 2022-03-31 0001653384 2025-01-01 2025-12-31 0001653384 2026-05-27 2026-05-27 iso4217:USD iso4217:USD shares pure shares 0001653384 false 424B2 Runway Growth Finance Corp. Our investment objective is to maximize our total return to our stockholders primarily through current income on our loan portfolio, and secondarily through capital gains on our warrants and other equity positions.Our investment objective is to maximize our total return to our stockholders primarily through current income on our loan portfolio and secondarily through capital gains on our warrants and other equity positions. We invest in senior secured first lien loans and other senior debt obligations and may on occasion invest in senior secured second lien loans. We have and expect to continue to acquire warrants and other equity securities from portfolio companies in connection with our investments in loans to these companies.We focus on lending to high growth-potential companies in technology, healthcare, business services, financial services, select consumer services and products and other high-growth industries.We originate our investments through two strategies: Sponsored Growth Lending and Non-Sponsored Growth Lending. In addition to our core strategies of providing Sponsored Growth Lending and Non-Sponsored Growth Lending, we may also opportunistically participate in the secondary markets for investments that are consistent with our broader investment strategy.We view acquisitions as a complement to, rather than a substitute for, organic growth. We remain committed to investing in our core business while simultaneously pursuing acquisitions that we believe will enhance our competitive position and our long-term growth.We seek to construct a balanced portfolio with diversification among sponsored and non-sponsored transactions, diversification among sponsors within the Sponsored Growth Lending strategy, diversification among industry, geography, and stage of development, all contributing to a favorable risk adjusted return for the portfolio viewed as a whole. Borrowers tend to use the proceeds of our financings to invest in sales and marketing, expand capacity of the overall business or refinance existing debt. Certain of the loans in which we may invest or obtain exposure to through our investments may be deemed “covenant-lite” loans, which means the loans contain fewer or no maintenance covenants compared to other loans and do not include terms which allow the lender to monitor the performance of the borrower and declare a default if certain criteria are breached. See “Risk Factors — Risks Related to our Investments — We may be subject to risks associated with our investments in covenant-lite loans” in our most recent Annual Report on Form 10-K.Sponsored Growth Lending. Our Sponsored Growth Lending strategy generally includes loans to late- and growth-stage companies that are already backed by established venture capital and private equity firms. Our Sponsored Growth Lending strategy typically includes the receipt of warrants and/or other equity from these venture-backed companies.We believe that our Sponsored Growth Lending strategy is particularly attractive because the loans we make typically have higher investment yields relative to lending to larger, more mature companies and usually include additional equity upside potential. We believe our Sponsored Growth Lending strategy:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.37;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">provides us access to many high-quality companies backed by top-tier venture capital and private equity investors;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.37;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">delivers consistent returns through double-digit loan yields; and</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">often offers us the ability to participate in equity upside of portfolio companies through the acquisition of warrants or success fees.</td></tr></table><div style="margin-top:12pt;"></div>Non-Sponsored Growth Lending. Our Non-Sponsored Growth Lending strategy generally includes loans to late- and growth-stage, private companies that are funded directly by entrepreneurs and founders, or companies that no longer require institutional equity investment (which may selectively include publicly traded companies). We refer to these target borrowers as “non-sponsored growth companies.”Generally, financing available to these non-sponsored growth companies is predicated on the underlying value of the business’s assets in an orderly liquidation scenario and/or the entrepreneur’s own personal financial resources. These options frequently provide insufficient capital to fund growth plans and do not consider the underlying enterprise value of the business, which may be substantial relative to the value of tangible assets deployed in the business. We are frequently the only senior lender to non-sponsored growth companies and evaluate business fundamentals, the commitment of the entrepreneur and secondary sources of repayment in our underwriting approach. 7.00% notes due 2029 SUPPLEMENTARY RISK FACTORSInvesting in the Notes involves a number of significant risks. You should carefully consider the risks described below, together with all of the risks and uncertainties described in the section titled “Risk Factors” in the accompanying prospectus, our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q, as well as in subsequent filings with the SEC, which are or will be incorporated by reference into this prospectus supplement and the accompanying prospectus in their entirety, and other information in this prospectus supplement, the accompanying prospectus, the documents incorporated by reference in this prospectus supplement and the accompanying prospectus, and any free writing prospectus that we may authorize for use in connection with this offering. The risks and uncertainties described below are not the only ones facing us. Additional risks and uncertainties not presently known to us, or not presently deemed material by us, may also impair our operations and performance. If any of the following risks actually occur, our business, financial condition or results of operations could be materially adversely affected. If that happens, our net asset value and the trading price of our securities could decline and you may lose all or part of your investment. Please also read carefully the section titled “Cautionary Note Regarding Forward-Looking Statements” in this prospectus supplement.The Notes will be unsecured and therefore will be effectively subordinated to any secured indebtedness we have currently incurred or may incur in the future.The Notes will not be secured by any of our assets or any of the assets of our subsidiaries. As a result, the Notes are effectively subordinated to any secured indebtedness we or our subsidiaries have currently incurred or may incur in the future (or any indebtedness that is initially unsecured to which we subsequently grant security) to the extent of the value of the assets securing such indebtedness. In any liquidation, dissolution, bankruptcy or other similar proceeding, the holders of any of our existing or future secured indebtedness and the secured indebtedness of our subsidiaries may assert rights against the assets pledged to secure that indebtedness in order to receive full payment of their indebtedness before the assets may be used to pay other creditors, including the holders of the Notes. As of May 21, 2026, our total indebtedness was approximately $693.5 million, $410.0 million of which was secured.The Notes will be structurally subordinated to the indebtedness and other liabilities of our subsidiaries.The Notes are obligations exclusively of Runway Growth Finance Corp., and not of any of our subsidiaries, including any subsidiaries we may acquire or create in the future. Our only current subsidiary is not a guarantor of the Notes, and the Notes are not required to be guaranteed by any subsidiaries we may acquire or create in the future. The assets of such subsidiaries are not directly available to satisfy the claims of our creditors, including the holders of the Notes.Except to the extent we are a creditor with recognized claims against our subsidiaries, all claims of creditors (including trade creditors) and holders of preferred stock, if any, of our subsidiaries have priority over our equity interests in such subsidiaries (and therefore the claims of our creditors, including holders of the Notes) with respect to the assets of such subsidiaries. Even if we are recognized as a creditor of one or more of our subsidiaries, our claims are effectively subordinated to any security interests in the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior to our claims. Consequently, the Notes will be structurally subordinated to all indebtedness and other liabilities (including trade payables) of our subsidiary and any subsidiaries that we may in the future acquire or establish as financing vehicles or otherwise.In addition, our subsidiaries may incur substantial additional indebtedness in the future, all of which would be structurally senior to the Notes.The indenture under which the Notes will be issued contains limited protection for holders of the Notes.The indenture under which the Notes will be issued offers limited protection to holders of the Notes. The terms of the indenture and the Notes do not restrict our or any of our subsidiaries’ ability to engage in, or otherwise be a party to, a variety of corporate transactions, circumstances or events that could have a material adverse impact on investments in the Notes. In particular, the terms of the indenture and the Notes will not place any restrictions on our or our subsidiaries’ ability to:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">issue securities or otherwise incur additional indebtedness or other obligations, including (1) any indebtedness or other obligations that would be equal in right of payment to the Notes, (2) any indebtedness or other obligations that would be secured and therefore rank effectively senior in right of payment to the Notes to the extent of the values of the assets securing such debt, (3) indebtedness of ours that is guaranteed by one or more of our subsidiaries and which therefore is structurally senior to the Notes and (4) securities, indebtedness or obligations issued or incurred by our subsidiaries that would be senior </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"></td><td style="padding:0pt;">to our equity interests in our subsidiaries and therefore rank structurally senior to the Notes with respect to the assets of our subsidiaries, in each case other than an incurrence of indebtedness or other obligation that would cause a violation of Section 18(a)(1)(A) of the 1940 Act as modified by Section 61(a)(2) of the 1940 Act or any successor provisions, as such obligations may be amended or superseded, giving effect to any exemptive relief granted to us by the SEC;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">pay dividends on, or purchase or redeem or make any payments in respect of, capital stock or other securities ranking junior in right of payment to the Notes;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">sell assets (other than certain limited restrictions on our ability to consolidate, merge or sell all or substantially all of our assets);</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">enter into transactions with affiliates;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">create liens (including liens on the shares of our subsidiaries) or enter into sale and leaseback transactions;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">make investments; or</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">create restrictions on the payment of dividends or other amounts to us from our subsidiaries.</td></tr></table><div style="margin-top:12pt;"></div>In addition, except for the obligation to offer to repurchase the Notes upon a Change of Control Repurchase Event described in this prospectus supplement, the indenture does not require us to offer to repurchase the Notes in connection with a change of control or any other event. Furthermore, the terms of the indenture and the Notes do not protect holders of the Notes in the event that we experience changes (including significant adverse changes) in our financial condition, results of operations or credit ratings, as they do not require that we or our subsidiaries adhere to any financial tests or ratios or specified levels of net worth, revenues, income, cash flow, or liquidity.Our ability to recapitalize, incur additional debt and take a number of other actions that are not limited by the terms of the Notes may have important consequences for holders of the Notes, including making it more difficult for us to satisfy our obligations with respect to the Notes or negatively affecting the trading value of the Notes.Certain of our current debt instruments include more protections for their holders than the indenture and the Notes. In addition, other debt we issue or incur in the future could contain more protections for its holders than the indenture and the Notes, including additional covenants and events of default. The issuance or incurrence of any such debt with incremental protections could affect the market for and trading levels and prices of the Notes.The optional redemption provision may materially adversely affect your return on the Notes.The Notes are redeemable in whole or in part at any time or from time to time at our sole option. We may choose to redeem the Notes at times when prevailing interest rates are lower than the interest rate paid on the Notes. In this circumstance, you may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as the Notes being redeemed.We may not be able to repurchase the Notes upon a Change of Control Repurchase Event.We may not be able to repurchase the Notes upon a Change of Control Repurchase Event because we may not have sufficient funds. Upon a Change of Control Repurchase Event, holders of the Notes may require us to repurchase for cash some or all of the Notes at a repurchase price equal to 100% of the aggregate principal amount of the Notes being repurchased, plus accrued and unpaid interest to, but not including, the repurchase date. Our failure to purchase such tendered Notes upon the occurrence of such Change of Control Repurchase Event would cause an event of default under the indenture governing the Notes and a cross-default under the agreements governing certain of our other indebtedness, which may result in the acceleration of such indebtedness requiring us to repay that indebtedness immediately. If a Change of Control Repurchase Event were to occur, we may not have sufficient funds to repay any such accelerated indebtedness and/or to make the required repurchase of the Notes. See “Description of the Notes — Offer to Repurchase Upon a Change of Control Repurchase Event” in this prospectus supplement for additional information.Our credit ratings may not reflect all risks of an investment in the Notes.Our credit ratings are an assessment by third parties of our ability to pay our obligations. Consequently, real or anticipated changes in our credit ratings will generally affect the market value of the Notes. Our credit ratings, however, may not reflect the potential impact of risks related to market conditions generally or other factors discussed above on the market value of or trading market for the Notes.If we default on our obligations to pay our other indebtedness, we may not be able to make payments on the Notes.Any default under the agreements governing our indebtedness, including a default under the Credit Facility, the July 2027 Notes, the SWK 2027 Notes, April 2028 Notes, the February 2031 Notes or other indebtedness to which we may be a party that is not waived by the required lenders or holders thereunder, and the remedies sought by the holders of such indebtedness could make us unable to pay principal, premium, if any, and interest on the Notes and substantially decrease the market value of the Notes. If we are unable to generate sufficient cash flow and are otherwise unable to obtain funds necessary to meet required payments of principal, premium, if any, and interest on our indebtedness, or if we otherwise fail to comply with the various covenants, including financial and operating covenants, in the instruments governing our indebtedness, we could be in default under the terms of the agreements governing such indebtedness. In the event of such default, the holders of such indebtedness could elect to declare all the funds borrowed thereunder to be due and payable, together with accrued and unpaid interest, the lenders under either of the Credit Facility or other debt we may incur in the future could elect to terminate their commitments, cease making further loans and institute foreclosure proceedings against our assets, and we could be forced into bankruptcy or liquidation. If our operating performance declines, we may in the future need to seek to obtain waivers from the required lenders under the Credit Facility, or from the holders of the July 2027 Notes, the SWK 2027 Notes, the April 2028 Notes, the February 2031 Notes or other debt that we may incur in the future to avoid being in default. If we breach our covenants under any of the Credit Facility, the July 2027 Notes, the SWK 2027 Notes, the April 2028 Notes, the February 2031 Notes or other debt and seek a waiver, we may not be able to obtain a waiver from the required lenders or holders. If this occurs, we would be in default and our lenders or debt holders could exercise their rights as described above, and we could be forced into bankruptcy or liquidation. If we are unable to repay debt, lenders having secured obligations, including the lenders under the Credit Facility, could proceed against the collateral securing the debt. Because the Credit Facility has, and any future debt will likely have, customary cross-default provisions, if the indebtedness thereunder or under any future indebtedness is accelerated, we may be unable to repay or finance the amounts due.Our shares of common stock have traded at a discount from net asset value and may do so in the future, which could limit our ability to raise additional equity capital.Shares of closed-end investment companies frequently trade at a market price that is less than the net asset value that is attributable to those shares. This characteristic of closed-end investment companies is separate and distinct from the risk that our net asset value per share may decline. It is not possible to predict whether shares of our common stock will trade at, above or below net asset value. In addition, in recent periods, shares of BDCs as an industry traded below net asset value. When our common stock is trading below its net asset value per share, we will generally not be able to issue additional shares of our common stock at its market price without first obtaining approval for such issuance from our stockholders and our independent directors. We do not have stockholder approval to sell shares of our common stock at a price below our net asset value per share.FATCA withholding may apply to payments to certain foreign entities.Payments made under the Notes to a foreign financial institution, or “FFI,” or non-financial foreign entity, or “NFFE” (including such an institution or entity acting as an intermediary), may be subject to a U.S. withholding tax of 30% under U.S. Foreign Account Tax Compliance Act provisions of the Code (commonly referred to as “FATCA”). This withholding tax may apply to payments of interest on the Notes as well unless the FFI or NFFE complies with certain information reporting, withholding, identification, certification and related requirements imposed by FATCA. Depending upon the status of a holder and the status of an intermediary through which any Notes are held, the holder could be subject to this 30% withholding tax in respect of any interest paid or deemed paid on the Notes. You should consult your own tax advisors regarding FATCA and how it may affect your investment in the Notes. See “Material United States Federal Income Tax Consequences — Taxation of Note Holders — FATCA Withholding on Payments to Certain Foreign Entities” in this prospectus supplement for more information.There is no active trading market for the Notes. If an active trading market does not develop for the Notes, you may not be able to sell them.The Notes are a new issue of debt securities for which there currently is no trading market. We do not intend to list the Notes on any securities exchange or for quotation of the Notes on any automated dealer quotation system. If the Notes are traded after their initial issuance, they may trade at a discount to their initial offering price depending on prevailing interest rates, the market for similar securities, our credit ratings, our financial condition, performance and prospects, general economic conditions. Although certain of the underwriters have informed us that they intend to make a market in the Notes, they are not obligated to do so and may discontinue any market-making in the Notes at any time at their sole discretion. Accordingly, we cannot assure you that a liquid trading market will develop or be maintained for the Notes, that you will be able to sell your Notes at a particular time or that the price you receive when you sell will be favorable. To the extent an active trading market does not develop, the liquidity and trading price for the Notes may be harmed. Accordingly, you may be required to bear the financial risk of an investment in the Notes for an indefinite period of time. The Notes will be unsecured and therefore will be effectively subordinated to any secured indebtedness we have currently incurred or may incur in the future.The Notes will not be secured by any of our assets or any of the assets of our subsidiaries. As a result, the Notes are effectively subordinated to any secured indebtedness we or our subsidiaries have currently incurred or may incur in the future (or any indebtedness that is initially unsecured to which we subsequently grant security) to the extent of the value of the assets securing such indebtedness. In any liquidation, dissolution, bankruptcy or other similar proceeding, the holders of any of our existing or future secured indebtedness and the secured indebtedness of our subsidiaries may assert rights against the assets pledged to secure that indebtedness in order to receive full payment of their indebtedness before the assets may be used to pay other creditors, including the holders of the Notes. As of May 21, 2026, our total indebtedness was approximately $693.5 million, $410.0 million of which was secured. The Notes will be structurally subordinated to the indebtedness and other liabilities of our subsidiaries.The Notes are obligations exclusively of Runway Growth Finance Corp., and not of any of our subsidiaries, including any subsidiaries we may acquire or create in the future. Our only current subsidiary is not a guarantor of the Notes, and the Notes are not required to be guaranteed by any subsidiaries we may acquire or create in the future. The assets of such subsidiaries are not directly available to satisfy the claims of our creditors, including the holders of the Notes.Except to the extent we are a creditor with recognized claims against our subsidiaries, all claims of creditors (including trade creditors) and holders of preferred stock, if any, of our subsidiaries have priority over our equity interests in such subsidiaries (and therefore the claims of our creditors, including holders of the Notes) with respect to the assets of such subsidiaries. Even if we are recognized as a creditor of one or more of our subsidiaries, our claims are effectively subordinated to any security interests in the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior to our claims. Consequently, the Notes will be structurally subordinated to all indebtedness and other liabilities (including trade payables) of our subsidiary and any subsidiaries that we may in the future acquire or establish as financing vehicles or otherwise.In addition, our subsidiaries may incur substantial additional indebtedness in the future, all of which would be structurally senior to the Notes. The indenture under which the Notes will be issued contains limited protection for holders of the Notes.The indenture under which the Notes will be issued offers limited protection to holders of the Notes. The terms of the indenture and the Notes do not restrict our or any of our subsidiaries’ ability to engage in, or otherwise be a party to, a variety of corporate transactions, circumstances or events that could have a material adverse impact on investments in the Notes. In particular, the terms of the indenture and the Notes will not place any restrictions on our or our subsidiaries’ ability to:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">issue securities or otherwise incur additional indebtedness or other obligations, including (1) any indebtedness or other obligations that would be equal in right of payment to the Notes, (2) any indebtedness or other obligations that would be secured and therefore rank effectively senior in right of payment to the Notes to the extent of the values of the assets securing such debt, (3) indebtedness of ours that is guaranteed by one or more of our subsidiaries and which therefore is structurally senior to the Notes and (4) securities, indebtedness or obligations issued or incurred by our subsidiaries that would be senior </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"></td><td style="padding:0pt;">to our equity interests in our subsidiaries and therefore rank structurally senior to the Notes with respect to the assets of our subsidiaries, in each case other than an incurrence of indebtedness or other obligation that would cause a violation of Section 18(a)(1)(A) of the 1940 Act as modified by Section 61(a)(2) of the 1940 Act or any successor provisions, as such obligations may be amended or superseded, giving effect to any exemptive relief granted to us by the SEC;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">pay dividends on, or purchase or redeem or make any payments in respect of, capital stock or other securities ranking junior in right of payment to the Notes;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">sell assets (other than certain limited restrictions on our ability to consolidate, merge or sell all or substantially all of our assets);</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">enter into transactions with affiliates;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">create liens (including liens on the shares of our subsidiaries) or enter into sale and leaseback transactions;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">make investments; or</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">create restrictions on the payment of dividends or other amounts to us from our subsidiaries.</td></tr></table><div style="margin-top:12pt;"></div>In addition, except for the obligation to offer to repurchase the Notes upon a Change of Control Repurchase Event described in this prospectus supplement, the indenture does not require us to offer to repurchase the Notes in connection with a change of control or any other event. Furthermore, the terms of the indenture and the Notes do not protect holders of the Notes in the event that we experience changes (including significant adverse changes) in our financial condition, results of operations or credit ratings, as they do not require that we or our subsidiaries adhere to any financial tests or ratios or specified levels of net worth, revenues, income, cash flow, or liquidity.Our ability to recapitalize, incur additional debt and take a number of other actions that are not limited by the terms of the Notes may have important consequences for holders of the Notes, including making it more difficult for us to satisfy our obligations with respect to the Notes or negatively affecting the trading value of the Notes.Certain of our current debt instruments include more protections for their holders than the indenture and the Notes. In addition, other debt we issue or incur in the future could contain more protections for its holders than the indenture and the Notes, including additional covenants and events of default. The issuance or incurrence of any such debt with incremental protections could affect the market for and trading levels and prices of the Notes. The optional redemption provision may materially adversely affect your return on the Notes.The Notes are redeemable in whole or in part at any time or from time to time at our sole option. We may choose to redeem the Notes at times when prevailing interest rates are lower than the interest rate paid on the Notes. In this circumstance, you may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as the Notes being redeemed. We may not be able to repurchase the Notes upon a Change of Control Repurchase Event.We may not be able to repurchase the Notes upon a Change of Control Repurchase Event because we may not have sufficient funds. Upon a Change of Control Repurchase Event, holders of the Notes may require us to repurchase for cash some or all of the Notes at a repurchase price equal to 100% of the aggregate principal amount of the Notes being repurchased, plus accrued and unpaid interest to, but not including, the repurchase date. Our failure to purchase such tendered Notes upon the occurrence of such Change of Control Repurchase Event would cause an event of default under the indenture governing the Notes and a cross-default under the agreements governing certain of our other indebtedness, which may result in the acceleration of such indebtedness requiring us to repay that indebtedness immediately. If a Change of Control Repurchase Event were to occur, we may not have sufficient funds to repay any such accelerated indebtedness and/or to make the required repurchase of the Notes. See “Description of the Notes — Offer to Repurchase Upon a Change of Control Repurchase Event” in this prospectus supplement for additional information. Our credit ratings may not reflect all risks of an investment in the Notes.Our credit ratings are an assessment by third parties of our ability to pay our obligations. Consequently, real or anticipated changes in our credit ratings will generally affect the market value of the Notes. Our credit ratings, however, may not reflect the potential impact of risks related to market conditions generally or other factors discussed above on the market value of or trading market for the Notes. If we default on our obligations to pay our other indebtedness, we may not be able to make payments on the Notes.Any default under the agreements governing our indebtedness, including a default under the Credit Facility, the July 2027 Notes, the SWK 2027 Notes, April 2028 Notes, the February 2031 Notes or other indebtedness to which we may be a party that is not waived by the required lenders or holders thereunder, and the remedies sought by the holders of such indebtedness could make us unable to pay principal, premium, if any, and interest on the Notes and substantially decrease the market value of the Notes. If we are unable to generate sufficient cash flow and are otherwise unable to obtain funds necessary to meet required payments of principal, premium, if any, and interest on our indebtedness, or if we otherwise fail to comply with the various covenants, including financial and operating covenants, in the instruments governing our indebtedness, we could be in default under the terms of the agreements governing such indebtedness. In the event of such default, the holders of such indebtedness could elect to declare all the funds borrowed thereunder to be due and payable, together with accrued and unpaid interest, the lenders under either of the Credit Facility or other debt we may incur in the future could elect to terminate their commitments, cease making further loans and institute foreclosure proceedings against our assets, and we could be forced into bankruptcy or liquidation. If our operating performance declines, we may in the future need to seek to obtain waivers from the required lenders under the Credit Facility, or from the holders of the July 2027 Notes, the SWK 2027 Notes, the April 2028 Notes, the February 2031 Notes or other debt that we may incur in the future to avoid being in default. If we breach our covenants under any of the Credit Facility, the July 2027 Notes, the SWK 2027 Notes, the April 2028 Notes, the February 2031 Notes or other debt and seek a waiver, we may not be able to obtain a waiver from the required lenders or holders. If this occurs, we would be in default and our lenders or debt holders could exercise their rights as described above, and we could be forced into bankruptcy or liquidation. If we are unable to repay debt, lenders having secured obligations, including the lenders under the Credit Facility, could proceed against the collateral securing the debt. Because the Credit Facility has, and any future debt will likely have, customary cross-default provisions, if the indebtedness thereunder or under any future indebtedness is accelerated, we may be unable to repay or finance the amounts due. Our shares of common stock have traded at a discount from net asset value and may do so in the future, which could limit our ability to raise additional equity capital.Shares of closed-end investment companies frequently trade at a market price that is less than the net asset value that is attributable to those shares. This characteristic of closed-end investment companies is separate and distinct from the risk that our net asset value per share may decline. It is not possible to predict whether shares of our common stock will trade at, above or below net asset value. In addition, in recent periods, shares of BDCs as an industry traded below net asset value. When our common stock is trading below its net asset value per share, we will generally not be able to issue additional shares of our common stock at its market price without first obtaining approval for such issuance from our stockholders and our independent directors. We do not have stockholder approval to sell shares of our common stock at a price below our net asset value per share. FATCA withholding may apply to payments to certain foreign entities.Payments made under the Notes to a foreign financial institution, or “FFI,” or non-financial foreign entity, or “NFFE” (including such an institution or entity acting as an intermediary), may be subject to a U.S. withholding tax of 30% under U.S. Foreign Account Tax Compliance Act provisions of the Code (commonly referred to as “FATCA”). This withholding tax may apply to payments of interest on the Notes as well unless the FFI or NFFE complies with certain information reporting, withholding, identification, certification and related requirements imposed by FATCA. Depending upon the status of a holder and the status of an intermediary through which any Notes are held, the holder could be subject to this 30% withholding tax in respect of any interest paid or deemed paid on the Notes. You should consult your own tax advisors regarding FATCA and how it may affect your investment in the Notes. See “Material United States Federal Income Tax Consequences — Taxation of Note Holders — FATCA Withholding on Payments to Certain Foreign Entities” in this prospectus supplement for more information. There is no active trading market for the Notes. If an active trading market does not develop for the Notes, you may not be able to sell them.The Notes are a new issue of debt securities for which there currently is no trading market. We do not intend to list the Notes on any securities exchange or for quotation of the Notes on any automated dealer quotation system. If the Notes are traded after their initial issuance, they may trade at a discount to their initial offering price depending on prevailing interest rates, the market for similar securities, our credit ratings, our financial condition, performance and prospects, general economic conditions. Although certain of the underwriters have informed us that they intend to make a market in the Notes, they are not obligated to do so and may discontinue any market-making in the Notes at any time at their sole discretion. Accordingly, we cannot assure you that a liquid trading market will develop or be maintained for the Notes, that you will be able to sell your Notes at a particular time or that the price you receive when you sell will be favorable. To the extent an active trading market does not develop, the liquidity and trading price for the Notes may be harmed. Accordingly, you may be required to bear the financial risk of an investment in the Notes for an indefinite period of time. DESCRIPTION OF THE NOTESThis prospectus supplement sets forth certain terms of the Notes that we are offering pursuant to this prospectus supplement. This description supplements, and to the extent inconsistent therewith, replaces the descriptions of the general terms and provisions contained in “Description of our Debt Securities” in the accompanying prospectus.The Notes will be issued under a base indenture, dated as of July 28, 2022, and the fourth supplemental indenture thereto, to be entered into between us and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”). The terms of the Notes include those stated in the Indenture (as defined below) and those made a part of the Indenture by reference to the Trust Indenture Act of 1939, as amended. As used in this section, all references to “Indenture” mean the indenture as supplemented by the fourth supplemental indenture, and all references to “we,” “our” and “us” mean Runway Growth Finance Corp., a Maryland corporation, exclusive of our subsidiaries, unless we specify otherwise.Because this section is a summary, it does not describe every aspect of the Notes and the Indenture. We urge you to read the Indenture because it, and not this description, defines your rights as a holder of Notes. For example, in this section, we use capitalized words to signify terms that are specifically defined in the Indenture. Some of the definitions are repeated in this prospectus supplement, but for the rest you will need to read the Indenture. You may obtain a copy of the Indenture from us without charge. See “Available Information” in the accompanying prospectus.GeneralThe Notes:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be issued in an initial principal amount of $50,000,000;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will mature on December 1, 2029, unless redeemed prior to maturity;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will bear cash interest from May 29, 2026, at an annual rate of 7.00% payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2026;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be redeemable at our option as described in this prospectus supplement under “— Optional Redemption”; and</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be subject to repurchase by us at the option of the holders following a Change of Control Repurchase Event at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the date of repurchase.</td></tr></table><div style="margin-top:12pt;"></div>The Notes will be our direct unsecured obligations and will rank:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">pari passu with current and future unsecured unsubordinated indebtedness, including the July 2027 Notes, SWK 2027 Notes, April 2028 Notes and February 2031 Notes;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">senior to any series of preferred stock that we may issue in the future;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">senior to any of our future indebtedness that expressly provides it is subordinated to the Notes;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">effectively subordinated to all of our existing and future secured indebtedness (including indebtedness that is initially unsecured to which we subsequently grant security), to the extent of the value of the assets securing such indebtedness, including debt outstanding under our Credit Facility; and</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">structurally subordinated to all existing and future indebtedness and other obligations of any of our subsidiaries, financing vehicles or similar facilities, including debt outstanding under our Credit Facility.</td></tr></table><div style="margin-top:12pt;"></div>As of May 21, 2026, our total indebtedness was approximately $693.5 million, $410.0 million of which was secured. After giving effect to the issuance of the Notes, assuming no repayment of indebtedness with the use of proceeds from this offering, our total indebtedness would have been approximately $743.5 million aggregate principal amount outstanding as of May 21, 2026.Our subsidiaries are separate and distinct legal entities and have no obligation, contingent or otherwise, to pay any amounts due on the Notes or to make any funds available for payment on the Notes, whether by dividends, loans or other payments. In addition, the payment of dividends and the making of loans and advances to us by our subsidiaries may be subject to statutory, contractual or other restrictions, may depend on the earnings or financial condition of all of the foregoing and are subject to various business considerations. As a result, we may be unable to gain significant, if any, access to the cash flow or assets of our subsidiaries.The Indenture does not limit the amount of debt (secured and unsecured) that we and our subsidiaries may incur or our ability to pay dividends, sell assets, enter into transactions with affiliates or make investments. In addition, the Indenture does not contain any provisions that would necessarily protect holders of Notes if we become involved in a highly leveraged transaction, reorganization, merger or other similar transaction that adversely affects us or them.The Notes will be issued in fully registered form only, without coupons, in minimum denominations of $2,000 and integral multiples thereof in denominations of $1,000. The Notes will be represented by one or more global notes deposited with or on behalf of DTC, or a nominee thereof. Except as otherwise provided in the Indenture, the Notes will be registered in the name of that depositary or its nominee, and you will not receive certificates for the Notes. We will make payments on a global security in accordance with the applicable policies of the depositary as in effect from time to time. Under those policies, we will make payments directly to the depositary, or its nominee, and not to any indirect holders who own beneficial interests in the global security. An indirect holder’s right to those payments will be governed by the rules and practices of the depositary and its participants.We are permitted, under specified conditions, to issue multiple classes of indebtedness if our asset coverage, as defined in the 1940 Act, is at least equal to 150% immediately after each such issuance. We may also borrow amounts up to 5% of the value of our total assets for temporary purposes without regard to asset coverage. For a discussion of the risks associated with leverage, see “Risk Factors — Risks Relating to Our Business and Structure — Regulations governing our operation as a BDC affect our ability to raise additional capital and the way in which we do so. As a BDC, the necessity of raising additional capital may expose us to risks, including the typical risks associated with leverage” in our most recent Annual Report on Form 10-K.Interest Provisions Related to the NotesInterest on the Notes will accrue at the rate of 7.00% per annum and will be payable semi-annually on each June 1 and December 1, commencing on December 1, 2026. The initial interest period will be the period from and including the original issue date to, but excluding, the initial interest payment date, and the subsequent interest periods will be the periods from and including an interest payment date to, but excluding, the next interest payment date or the stated maturity date, as the case may be. We will pay interest to those persons who were holders of record of such Notes on the first day of the month during which each interest payment date occurs: each May 15 and November 15, commencing November 15, 2026.Interest on the Notes will accrue from the date of original issuance and will be computed on the basis of a 360-day year comprised of twelve 30-day months. We will not provide a sinking fund for the Notes.Interest payments will be made only on a business day, defined in the Indenture as each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in New York City, Chicago or the place of payment are authorized or required by law or executive order to close. If any interest payment is due on a non-business day, we will make the payment on the next day that is a business day. Payments made on the next business day in this situation will be treated under the Indenture as if they were made on the original due date. Such payment will not result in a default under the Notes or the Indenture, and no interest will accrue on the payment amount from the original due date to the next day that is a business day.The Trustee will have no obligation to calculate or verify the calculation of the accrued and unpaid interest or any premium payable on the Notes.Book-entry and other indirect holders should consult their banks or brokers for information on how they will receive payments on their Notes.Optional RedemptionPrior to the Par Call Date, we may redeem the Notes at our option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of: (1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 50 basis points less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to, but not including, the redemption date.On or after the Par Call Date, we may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest.For purposes of calculating the redemption price in connection with the redemption of the Notes, on any redemption date, the following terms have the meanings set forth below:“Treasury Rate” means, with respect to any redemption date, the yield determined by us in accordance with the following two paragraphs.The Treasury Rate shall be determined by us after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based upon the yield or yields for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)-H.15” (or any successor designation or publication) (“H.15”) under the caption “U.S. government securities-Treasury constant maturities-Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate, we shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the redemption date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields-one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life-and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the redemption date.If on the third business day preceding the redemption date H.15 TCM or any successor designation or publication is no longer published, we shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, we shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, we shall select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places.Our actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error.Unless we default in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption.You may be prevented from exchanging or transferring the Notes when they are subject to redemption. In case any Notes are to be redeemed in part only, the redemption notice will provide that, upon surrender of such Note, you will receive, without a charge, a new Note or Notes of authorized denominations representing the principal amount of your remaining unredeemed Notes.Any exercise of our option to redeem the Notes will be done in compliance with the 1940 Act, to the extent applicable.Other than as described under “— Offer to Repurchase Upon a Change of Control Repurchase Event,” holders will not have the option to have the Notes repaid prior to the stated maturity date.Certain CovenantsIn addition to standard covenants relating to payment of principal and interest, maintaining an office where payments may be made or securities surrendered for payment, payment of taxes and related matters, the following covenants apply to the Notes.ReportingWe have agreed to provide to holders of the Notes and the Trustee (if at any time when Notes are outstanding we are not subject to the reporting requirements of Sections 13 or 15(d) of the Exchange Act to file any periodic reports with the SEC) our audited annual financial statements within 90 days of our fiscal year end and unaudited interim financial statements within 45 days of our fiscal quarter end (other than our fourth fiscal quarter). All such financial statements will be prepared, in all material respects, in accordance with applicable United States generally accepted accounting principles.1940 Act ComplianceWe agree that for the period of time during which the Notes are outstanding, we will not violate Section 18(a)(1)(A) as modified by Section 61(a)(2) of the 1940 Act or any successor provisions, whether or not we continue to be subject to such provisions of the 1940 Act, but giving effect, in either case, to any exemptive relief granted to us by the SEC. Currently, these provisions generally prohibit us from incurring additional indebtedness, including through the issuance of additional debt securities, unless our asset coverage, as defined in the 1940 Act, equals at least 150% after such borrowings.Dividends on our Common StockWe agree that, for the period of time during which the Notes are outstanding, we will not violate Section 18(a)(1)(B) as modified by (i) Section 61(a)(2) of the 1940 Act or any successor provisions and after giving effect to any exemptive relief granted to us by the SEC and (ii) the exceptions described in this paragraph. These provisions would generally prohibit us from declaring any cash dividend or distribution upon any class of our capital stock, or purchasing any such capital stock if our asset coverage, as defined in the 1940 Act, were below 150% at the time of the declaration of the dividend or distribution or the purchase and after deducting the amount of such dividend, distribution, or purchase. Under the covenant, we will be permitted to declare a cash dividend or distribution notwithstanding the prohibition contained in Section 18(a)(1)(B) as modified by Section 61(a)(2) of the 1940 Act or any successor provisions, but only up to such amount as is necessary for us to maintain our status as a RIC under subchapter M of the Code. Furthermore, the covenant will not be triggered unless and until such time as our asset coverage has not been in compliance with the minimum asset coverage required by Section 18(a)(1)(B) as modified by Section 61(a)(2) of the 1940 Act or any successor provisions (after giving effect to any exemptive relief granted to us by the SEC) for more than six consecutive months.Offer to Repurchase Upon a Change of Control Repurchase EventIf a Change of Control Repurchase Event occurs, unless we have exercised our right to redeem the Notes in full, we will make an offer to each holder of the Notes to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 principal amount in excess thereof) of that holder’s Notes at a repurchase price in cash equal to 100% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the date of repurchase. Within 30 days following any Change of Control Repurchase Event or, at our option, prior to any Change of Control (as defined below), but after the public announcement of the Change of Control, we will mail a notice to each holder (with a copy to the Trustee) describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed. The notice will, if mailed prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. We will comply with the requirements of Rule 14e-1 promulgated under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes, we will comply with the applicable securities laws and regulations and will not be deemed to have breached our obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such conflict.On the Change of Control Repurchase Event payment date, subject to extension if necessary to comply with the provisions of the 1940 Act and the rules and regulations promulgated thereunder, we will, to the extent lawful:<table style="border-collapse:collapse;border:0;"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">accept for payment all Notes or portions of Notes properly tendered pursuant to our offer;</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">deposit with the paying agent an amount equal to the aggregate purchase price in respect of all Notes or portions of Notes properly tendered; and</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an officers’ certificate stating the aggregate principal amount of Notes being purchased by us.</td></tr></table>Upon receipt from us, the paying agent will promptly remit to each holder of Notes properly tendered the purchase price for the Notes, and upon receipt of written direction from us, the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered; provided that each new Note will be in a minimum principal amount of $2,000 or an integral multiple of $1,000 in excess thereof.We will not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by us and such third party purchases all Notes properly tendered and not withdrawn under its offer.The source of funds that will be required to repurchase Notes in the event of a Change of Control Repurchase Event will be our available cash or cash generated from our operations or other potential sources, including funds provided by a purchaser in the Change of Control transaction, borrowings, sales of assets or sales of equity. We cannot assure you that sufficient funds from such sources will be available at the time of any Change of Control Repurchase Event to make required repurchases of Notes tendered. The terms of certain of our and our subsidiaries’ financing arrangements provide that certain change of control events will constitute an event of default thereunder entitling the lenders to accelerate any indebtedness outstanding under our and our subsidiaries’ financing arrangements at that time and to terminate the financing arrangements. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Liquidity and Capital Resources” in our most recent Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q for a general discussion of our and our subsidiaries’ indebtedness, which are incorporated by reference into this prospectus supplement. Our and our subsidiaries’ future financing arrangements may contain similar restrictions and provisions. If the holders of the Notes exercise their right to require us to repurchase Notes upon a Change of Control Repurchase Event, the financial effect of this repurchase could cause a default under our and our subsidiaries’ future financing arrangements, even if the Change of Control Repurchase Event itself would not cause a default. It is possible that we will not have sufficient funds at the time of the Change of Control Repurchase Event to make the required repurchase of the Notes and/or our and our subsidiaries’ other debt. See “Risk Factors — Risks Related to the Notes — We may not be able to repurchase the Notes upon a Change of Control Repurchase Event” in this prospectus supplement for more information.The definition of “Change of Control” includes a phrase relating to the direct or indirect sale, transfer, conveyance or other disposition of “all or substantially all” of our properties or assets and those of our subsidiaries taken as a whole. Although there is a limited body of case law interpreting the phrase “substantially all,” there is no precise, established definition of the phrase under applicable law. Accordingly, the ability of a holder of Notes to require us to repurchase the Notes as a result of a sale, transfer, conveyance or other disposition of less than all of our assets and the assets of our subsidiaries taken as a whole to another person or group may be uncertain.For purposes of the Notes:“Change of Control” means the occurrence of any of the following:<table style="border-collapse:collapse;border:0;"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation) in one or a series of related transactions, of all or substantially all of the assets of Runway Growth Finance Corp. and its Controlled Subsidiaries taken as a whole to any “person” or “group” (as those terms are used in Section 13(d)(3)) of the Exchange Act), other than to any Permitted Holders; provided that, for the avoidance of doubt, a pledge of assets pursuant to any secured debt instrument of the Company or its Controlled Subsidiaries shall not be deemed to be any such sale, lease, transfer, conveyance or disposition;</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act) (other than any Permitted Holders) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 promulgated under the Exchange Act), directly or indirectly, of more than 50% of the outstanding Voting Stock of Runway Growth Finance Corp., measured by voting power rather than number of shares; or</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">the approval by Runway Growth Finance Corp.’s stockholders of any plan or proposal relating to the liquidation or dissolution of Runway Growth Finance Corp.</td></tr></table>“Change of Control Repurchase Event” means the occurrence of a Change of Control.“Controlled Subsidiary” means any subsidiary of Runway Growth Finance Corp., 50% or more of the outstanding equity interests of which are owned by Runway Growth Finance Corp. and its direct or indirect subsidiaries and of which Runway Growth Finance Corp. possesses, directly or indirectly, the power to direct or cause the direction of the management or policies, whether through the ownership of voting equity interests, by agreement or otherwise.“Permitted Holders” means (i) us, (ii) one or more of our Controlled Subsidiaries and (iii) RGC, any affiliate of RGC or any entity that is managed by RGC that is organized under the laws of a jurisdiction located in the United States and in the business of managing or advising clients.“Voting Stock,” as applied to the stock of any person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such person, other than shares, interests, participations or other equivalents having such power only by reason of the occurrence of a contingency.Events of DefaultYou will have rights if an Event of Default occurs in respect of the Notes and is not cured, as described later in this subsection.The term “Event of Default” in respect of the Notes means any of the following:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We default in the payment of any interest on the Notes when due and payable and the default continues for a period of 30 days.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We default in the payment of the principal of (or premium, if any, on) a debt security of the series when it becomes due and payable at its maturity, including upon any redemption date or required repurchase date, and the default continues for a period of five business days.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We do not deposit any sinking fund payment in respect of the Notes on its due date, and do not cure this default within five days.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We fail for 60 consecutive days after written notice from the Trustee or the holders of at least 25% in principal amount of the Notes then outstanding to us and the Trustee, as applicable, has been received to comply with any of our other agreements with respect to the Notes.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We file for bankruptcy or certain events of bankruptcy, insolvency, or reorganization involving us occur and remain undischarged or unstayed for a period of 90 days.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Pursuant to Section 18(a)(1)(C)(ii) and Section 61 of the 1940 Act, or any successor provisions, on the last business day of each of 24 consecutive calendar months, any class of securities shall have an asset coverage (as such term is used in the 1940 Act) of less than 100%, giving effect to any amendments to such provisions of the 1940 Act or to any exemptive relief granted to us by the SEC.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Any other Event of Default in respect of the Notes described in the applicable prospectus supplement occurs.</td></tr></table><div style="margin-top:12pt;"></div>An Event of Default for the Notes does not necessarily constitute an Event of Default for any other series of debt securities issued under the same or any other indenture. The Trustee may withhold notice to the holders of the Notes of any default, except in the payment of principal, premium or interest, if it in good faith considers the withholding of notice to be in the interests of the holders.Remedies if an Event of Default OccursIf an Event of Default has occurred and has not been cured, the Trustee or the holders of at least 25% in principal amount of the Notes may declare the entire principal amount of all the Notes to be due and immediately payable. This is called a declaration of acceleration of maturity. A declaration of acceleration of maturity may be canceled by the holders of a majority in principal amount of the Notes if (1) we have deposited with the Trustee all amounts due and owing with respect to the securities (other than principal that has become due solely by reason of such acceleration) and certain other amounts, (2) we have paid or deposited with the Trustee all sums paid or advanced by the Trustee and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and (3) any other Events of Default have been cured or waived.Except in cases of default, where the Trustee has some special duties, the Trustee is not required to take any action under the Indenture at the request of any holders unless the holders offer the Trustee reasonable protection from expenses and liability (called an “indemnity”) (Section 315 of the Trust Indenture Act of 1939). If indemnity and/or security satisfactory to the Trustee is provided, the holders of a majority in principal amount of the Notes may direct the time, method and place of conducting any lawsuit or other formal legal action seeking any remedy available to the Trustee. The Trustee may refuse to follow those directions in certain circumstances. No delay or omission in exercising any right or remedy will be treated as a waiver of that right, remedy or Event of Default.Before you are allowed to bypass the Trustee and bring your own lawsuit or other formal legal action or take other steps to enforce your rights or protect your interests relating to the Notes, the following must occur:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">You must give the Trustee written notice that an Event of Default has occurred and remains uncured.</td></tr></table><div style="margin-top:12pt;"></div><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">The holders of at least 25% in principal amount of all outstanding Notes must make a written request that the Trustee take action because of the default and must offer to the Trustee security and/or indemnity satisfactory to it against the cost, expenses, and other liabilities of taking that action.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">The Trustee must not have taken action for 60 days after receipt of the above notice and offer of security and/or indemnity.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">The holders of a majority in principal amount of the Notes must not have given the Trustee a direction inconsistent with the above notice during that 60-day period.</td></tr></table><div style="margin-top:12pt;"></div>However, you are entitled at any time to bring a lawsuit for the payment of money due on your Notes on or after the due date.Holders of a majority in principal amount of the Notes may waive any past defaults other than a default;<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">in the payment of principal, any premium, or interest; or</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">in respect of a covenant that cannot be modified or amended without the consent of each holder.</td></tr></table><div style="margin-top:12pt;"></div>Book-entry and other indirect holders should consult their banks or brokers for information on how to give notice or direction to or make a request of the Trustee and how to declare or cancel an acceleration of maturity.Each year, we will furnish to the Trustee a written statement of certain of our officers certifying that to their knowledge we are in compliance with the Indenture or else specifying any default.Merger, Consolidation or Sale of AssetsUnder the terms of the Indenture, we are generally permitted to consolidate or merge with another entity. We are also permitted to sell all or substantially all of our assets to another entity. However, we may not consolidate with or into any other corporation or convey or transfer all or substantially all of our property or assets to any person unless all the following conditions are met:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Where we merge out of existence or sell our assets, the resulting entity must agree to be legally responsible for all of our obligations under the Notes and the Indenture.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Immediately after giving effect to such transaction, no Default or Event of Default shall have happened and be continuing.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver certain certificates and documents to the Trustee.</td></tr></table><div style="margin-top:12pt;"></div>Modification or WaiverThere are three types of changes we can make to the Indenture and the Notes.Changes Requiring Your ApprovalFirst, there are changes that we cannot make to your Notes without your specific approval. The following is a list of those types of changes:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">change the stated maturity of the principal of or interest on the Notes;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce any amounts due on the Notes;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce the amount of principal payable upon acceleration of the maturity of the Notes following a default;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">adversely affect any right of repayment at the holder’s option;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">change the place (except as otherwise described in this prospectus supplement or the accompanying prospectus) or currency of payment on the Notes;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">impair your right to sue for payment;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce the percentage of holders of Notes whose consent is needed to modify or amend the Indenture;</td></tr></table><div style="margin-top:12pt;"></div><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce the percentage of holders of Notes whose consent is needed to waive compliance with certain provisions of the Indenture or to waive certain defaults;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">modify any other aspect of the provisions of the Indenture dealing with supplemental indentures, modification and waiver of past defaults, changes to the quorum or voting requirements or the waiver of certain covenants; and</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">change any obligation we have to pay additional amounts.</td></tr></table><div style="margin-top:12pt;"></div>Changes Not Requiring ApprovalThe second type of change does not require any vote by the holders of the Notes. This type is limited to clarifications and certain other changes that would not adversely affect holders of the Notes in any material respect. We also do not need any approval to make any change that affects only debt securities to be issued under the indenture after the change takes effect.Changes Requiring Majority ApprovalAny other change to the Indenture and the Notes would require the following approval:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">if the change affects only the Notes, it must be approved by the holders of a majority in principal amount of the Notes outstanding at such time; and</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">if the change affects more than one series of debt securities issued under the indenture, it must be approved by the holders of a majority in principal amount of all of the series affected by the change, with all affected series voting together as one class for this purpose.</td></tr></table><div style="margin-top:12pt;"></div>The holders of a majority in principal amount of all of the series of debt securities issued under an indenture, voting together as one class for this purpose, may waive our compliance with some of our covenants in that indenture. However, we cannot obtain a waiver of a payment default or of any of the matters covered by the bullet points included above under “Changes Requiring Your Approval.”Book-entry and other indirect holders should consult their banks or brokers for information on how approval may be granted or denied if we seek to change the Indenture or the Notes or request a waiver.DefeasanceCovenant DefeasanceUnder current United States federal tax law, we can make the deposit described below and be released from some of the restrictive covenants in the Indenture under which the Notes were issued. This is called “covenant defeasance.” In that event, you would lose the protection of those restrictive covenants but would gain the protection of having money and government securities set aside in trust to repay your Notes. In order to achieve covenant defeasance, we must do the following:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must irrevocably deposit in trust for the benefit of all holders of such Notes a combination of money and United States government or United States government agency notes or bonds that will generate enough cash to make interest, principal and any other payments on the Notes on their various due dates. No Default or Event of Default with respect to the Notes shall have occurred and be continuing on the date of such deposit, or in the case of a bankruptcy Event of Default, at any time during the period ending on the 91st day after the date of such deposit.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the Trustee a legal opinion of our counsel confirming that, under current U.S. federal income tax law, we may make the above deposit without causing you to be taxed on the Notes any differently than if we did not make the deposit and just repaid the Notes ourselves at maturity.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the Trustee a legal opinion of our counsel stating that the above deposit does not require registration by us under the 1940 Act and a legal opinion and officers’ certificate stating that all conditions precedent to covenant defeasance have been complied with.</td></tr></table><div style="margin-top:12pt;"></div>If we accomplish covenant defeasance, you can still look to us for repayment of the Notes if there were a shortfall in the trust deposit or the Trustee is prevented from making payment. For example, if one of the remaining Events of Default occurred (such as our bankruptcy) and the Notes became immediately due and payable, there might be a shortfall. Depending on the event causing the default, you may not be able to obtain payment of the shortfall.Full DefeasanceIf there is a change in U.S. federal tax law, as described below, we can legally release ourselves from all payment and other obligations on the Notes (called “full defeasance”) if we put in place the following other arrangements for you to be repaid:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deposit in trust for the benefit of all holders of such Notes a combination of money and United States government or United States government agency notes or bonds that will generate enough cash to make interest, principal and any other payments on the Notes and for payment of amounts due to the Trustee.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">No Default or Event of Default with respect to the Notes shall have occurred and be continuing on the date of such deposit, or in the case of a bankruptcy Event of Default, at any time during the period ending on the 91st day after the date of such deposit.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the Trustee a legal opinion confirming that there has been a change in current U.S. federal tax law or a ruling issued by the Internal Revenue Service, or IRS, that allows us to make the above deposit without causing you to be taxed on the Notes any differently than if we did not make the deposit and just repaid the Notes ourselves at maturity. Under current U.S. federal tax law, the deposit and our legal release from the Notes would be treated as though we paid you your share of the cash and notes or bonds at the time the cash and notes or bonds were deposited in trust in exchange for your Notes and you would recognize gain or loss on the Notes at the time of the deposit.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the Trustee a legal opinion of our counsel stating that the above deposit does not require registration by us under the 1940 Act and a legal opinion and officers’ certificate stating that all conditions precedent to defeasance have been complied with.</td></tr></table><div style="margin-top:12pt;"></div>If we ever did accomplish full defeasance, as described above, you would have to rely solely on the trust deposit for repayment of the Notes. You could not look to us for repayment in the unlikely event of any shortfall. Conversely, the trust deposit would most likely be protected from claims of our lenders and other creditors if we ever became bankrupt or insolvent.No service charge will be made for any registration of transfer or any exchange of Notes, but we may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith.Satisfaction and DischargeThe Indenture will be discharged and will cease to be of further effect with respect to the Notes when either:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">all the Notes that have been authenticated have been delivered to the Trustee for cancellation; or</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">all the Notes that have not been delivered to the Trustee for cancellation:</td></tr></table><div style="margin-top:12pt;"></div><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:43.2pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">have become due and payable,</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:43.2pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will become due and payable at their stated maturity within one year, or</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:43.2pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">are to be called for redemption within one year,</td></tr></table><div style="margin-top:12pt;"></div>and we, in the case of the first, second and third sub-bullets above, have irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the holders of the Notes, in amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness (including all principal, premium, if any, and interest) on such Notes delivered to the Trustee for cancellation (in the case of Notes that have become due and payable on or prior to the date of such deposit) or to the stated maturity or redemption date, as the case may be,<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">we have paid or caused to be paid all other sums payable by us under the Indenture with respect to the Notes; and</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">we have delivered to the Trustee an officers’ certificate and legal opinion, each stating that all conditions precedent provided for in the Indenture, including amounts payable to the Trustee, relating to the satisfaction and discharge of the Indenture and the Notes have been complied with.</td></tr></table><div style="margin-top:12pt;"></div>Additional Notes and Additional Series of NotesWe may from time to time, without notice to or the consent of the registered holders of the Notes, create and issue further notes ranking equally and ratably with the Notes in all respects, including having the same CUSIP number, so that such further notes shall be consolidated and form a single series of notes and shall have the same terms as to status or otherwise as the Notes. No additional Notes may be issued if an Event of Default has occurred and is continuing with respect to the Notes. The indenture also allows for the issuance of additional series of debt securities from time to time.The Trustee Under the IndentureU.S. Bank Trust Company, National Association will serve as the trustee under the Indenture.Payment, Paying Agent, Registrar and Transfer AgentThe principal amount of each Note will be payable on the stated maturity date at the corporate trust office of the Paying Agent, Registrar and Transfer Agent for the Notes as provided for in the Indenture or at such other office in New York City as we may designate. The Trustee will initially act as Paying Agent, Registrar and Transfer Agent for the Notes.Governing LawThe Indenture and the Notes will be governed by the laws of the State of New York.Book-Entry Debt SecuritiesDTC will act as securities depository for the Notes. The Notes will be issued as fully registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully-registered certificate will be issued for the Notes, in the aggregate principal amount of such issue, and will be deposited with DTC.DTC is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the Exchange Act. DTC holds and provides asset servicing for issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities through electronic computerized book-entry transfers and pledges between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”).DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”).Purchases of debt securities under the DTC system must be made by or through Direct Participants, which will receive a credit for the debt securities on DTC’s records. The ownership interest of each actual purchaser of each security (“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the debt securities are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in debt securities, except in the event that use of the book-entry system for the debt securities is discontinued.To facilitate subsequent transfers, all debt securities deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co. or such other name as may be requested by an authorized representative of DTC. The deposit of debt securities with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not affect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the debt securities; DTC’s records reflect only the identity of the Direct Participants to whose accounts such debt securities are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers.Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time.Redemption notices shall be sent to DTC. If less than all of the debt securities within an issue are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed.Neither DTC nor Cede & Co. (nor such other DTC nominee) will consent or vote with respect to the Notes unless authorized by a Direct Participant in accordance with DTC’s Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to us as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts the Notes are credited on the record date (identified in a listing attached to the Omnibus Proxy).Redemption proceeds, distributions, and dividend payments on the Notes will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon. DTC’s receipt of funds and corresponding detail information from us or the Trustee on the payment date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC nor its nominee, the Trustee, or us, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of us, but disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants.DTC may discontinue providing its services as securities depository with respect to the Notes at any time by giving reasonable notice to us or to the Trustee. Under such circumstances, in the event that a successor securities depository is not obtained, certificates are required to be printed and delivered. We may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor securities depository). In that event, certificates will be printed and delivered to DTC.The information in this section concerning DTC and DTC’s book-entry system has been obtained from sources that we believe to be reliable, but we take no responsibility for the accuracy thereof. The Notes will be issued under a base indenture, dated as of July 28, 2022, and the fourth supplemental indenture thereto, to be entered into between us and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”). <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be issued in an initial principal amount of $50,000,000;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will mature on December 1, 2029, unless redeemed prior to maturity;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will bear cash interest from May 29, 2026, at an annual rate of 7.00% payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2026;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be redeemable at our option as described in this prospectus supplement under “— Optional Redemption”; and</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">will be subject to repurchase by us at the option of the holders following a Change of Control Repurchase Event at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the date of repurchase.</td></tr></table><div style="margin-top:12pt;"></div> 50000000 0.015

10.89

13.39

10.89

0.187

13.39

<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:fixed;width:100%;"><tr><td style="width:148.75pt;padding:0pt;"></td><td style="width:11.7pt;padding:0pt;"></td><td style="width:5.3pt;padding:0pt;"></td><td style="width:33.15pt;padding:0pt;"></td><td style="width:11.55pt;padding:0pt;"></td><td style="width:5.7pt;padding:0pt;"></td><td style="width:55.95pt;padding:0pt;"></td><td style="width:11.55pt;padding:0pt;"></td><td style="width:5.7pt;padding:0pt;"></td><td style="width:57.15pt;padding:0pt;"></td><td style="width:10.15pt;padding:0pt;"></td><td style="width:56.5pt;padding:0pt;"></td><td style="width:13.79pt;padding:0pt;"></td><td style="width:56.5pt;padding:0pt;"></td><td style="width:13.8pt;padding:0pt;"></td><td style="width:4.75pt;padding:0pt;"></td><td style="width:38.01pt;padding:0pt;"></td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:38.45pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:61.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:62.85pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">High Sale</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">Low Sale</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:42.75pt;margin:0pt;padding:0pt;"></td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:38.45pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:61.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:62.85pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:42.75pt;margin:0pt;padding:0pt;"></td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:38.45pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:61.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:62.85pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">Premium</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">Premium</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:42.75pt;margin:0pt;padding:0pt;"></td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:38.45pt;margin:0pt;padding:0pt;">Net</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:61.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:62.85pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(Discount) to</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(Discount) to</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:42.75pt;margin:0pt;padding:0pt;">Cash</td></tr><tr style="height:9.44pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:38.45pt;margin:0pt;padding:0pt;">Asset</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:136.05pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price Range</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;">Net Asset</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;">Net Asset</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:42.75pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;">Dividend</td></tr><tr style="height:9.69pt;"><td style="vertical-align:bottom;width:148.75pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Class and Period</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:38.45pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value(1)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:61.65pt;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;">High</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;border-bottom:1px solid transparent;border-top:1px solid #000000;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:62.85pt;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;">Low</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value(2)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value(2)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:42.75pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Per Share(3)</td></tr><tr style="height:11.74pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">Year ending December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">(through March 17, 2025)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;">*</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;">11.63</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;">10.82</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">*</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">*</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;">% </td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;">*</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">Year ending December 31, 2024</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">Fourth Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;">*</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;">10.96</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;">9.97</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">*</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">*</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;">0.40</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">Third Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;">13.39</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;">12.02</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;">10.10</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(10.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(24.4)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;">0.45</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">Second Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;">13.14</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;">13.25</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;">11.57</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">0.8</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(11.9)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;">0.47</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">First Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;">13.36</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;">13.67</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;">11.56</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">2.3</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(13.5)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;">0.47</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">Year ending December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;"></td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">Fourth Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;">13.50</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;">13.24</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;">11.90</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(2.0)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(11.9)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;">0.46</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">Third Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;">14.08</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;">13.55</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;">12.15</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(3.8)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(13.7)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;">0.45</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">Second Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;">14.17</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;">12.63</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;">10.60</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(10.9)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(25.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;">0.45</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">First Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;">14.07</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;">13.85</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;">10.89</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(1.6)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(22.6)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;">0.45</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">Year ending December 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">Fourth Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;">14.22</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;">13.52</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;">11.31</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(4.9)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(20.5)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;">0.36</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">Third Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;">14.12</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;">13.81</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;">11.24</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(2.2)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(20.4)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;">0.33</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;margin:0pt;padding:0pt;">Second Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;margin:0pt;padding:0pt;">14.14</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;margin:0pt;padding:0pt;">14.51</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;margin:0pt;padding:0pt;">10.98</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">2.6</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;margin:0pt;padding:0pt;">(22.3)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;margin:0pt;padding:0pt;">0.30</td></tr><tr style="height:11.49pt;"><td style="vertical-align:bottom;width:148.75pt;background:#cceeff;margin:0pt;padding:0pt;">First Quarter</td><td style="vertical-align:bottom;white-space:nowrap;width:11.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.3pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:33.15pt;background:#cceeff;margin:0pt;padding:0pt;">14.45</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:55.95pt;background:#cceeff;margin:0pt;padding:0pt;">14.77</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.7pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;margin:0pt;padding:0pt;">12.21</td><td style="vertical-align:bottom;white-space:nowrap;width:10.15pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">2.2</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:56.5pt;background:#cceeff;margin:0pt;padding:0pt;">(15.5)</td><td style="vertical-align:bottom;white-space:nowrap;width:13.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:4.75pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:38pt;background:#cceeff;margin:0pt;padding:0pt;">0.27</td></tr></table><div style="font-family:'Aptos';font-size:10.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">*</td><td style="padding:0pt;">Not determined at time of filing</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">NAV per share is generally determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Calculated as the respective high or low closing sales price less net asset value, divided by net asset value (in each case, as of the applicable quarter).</td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">Represents the dividend or distribution declared in the relevant quarter.</td></tr></table> 11.63 10.82 10.96 9.97

13.39

12.02 10.1 -0.102 -0.244

13.14

13.25 11.57 0.008 -0.119

13.36

13.67 11.56 0.023 -0.135

13.5

13.24 11.9 -0.02 -0.119

14.08

13.55 12.15 -0.038 -0.137

14.17

12.63 10.6 -0.109 -0.252

14.07

13.85 10.89 -0.016 -0.226

14.22

13.52 11.31 -0.049 -0.205

14.12

13.81 11.24 -0.022 -0.204

14.14

14.51 10.98 0.026 -0.223

14.45

14.77 12.21 0.022 -0.155 SENIOR SECURITIESInformation about our senior securities as of the fiscal years ended December 31, 2023, December 31, 2022, December 31, 2021, December 31, 2020, December 31, 2019, and December 31, 2018 is located in Part II, Item 8, Note 7 - Borrowings in our most recent annual report on Form 10-K and is incorporated by reference into the Registration Statement of which this prospectus, any accompanying prospectus supplement and any related free writing prospectus is part. The report of RSM US, LLP, our independent registered public accounting firm, on the audited consolidated financial statements as of December 31, 2023 and December 31, 2022, which include the senior securities table, is included in our most recent annual report on Form 10-K and is incorporated by reference into the Registration Statement of which this prospectus, any accompanying prospectus supplement and any related free writing prospectus is part.Information about our senior securities is shown in the following table as of September 30, 2024 (unaudited) and December 31, 2023 (in thousands).<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:fixed;width:100%;"><tr><td style="width:246.65pt;padding:0pt;"></td><td style="width:11.54pt;padding:0pt;"></td><td style="width:5.96pt;padding:0pt;"></td><td style="width:67.4pt;padding:0pt;"></td><td style="width:11.54pt;padding:0pt;"></td><td style="width:5.85pt;padding:0pt;"></td><td style="width:53.8pt;padding:0pt;"></td><td style="width:11.55pt;padding:0pt;"></td><td style="width:51.1pt;padding:0pt;"></td><td style="width:11.55pt;padding:0pt;"></td><td style="width:63.05pt;padding:0pt;"></td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:73.35pt;margin:0pt;padding:0pt;">Total Amount</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:59.65pt;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;"> </td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:73.35pt;margin:0pt;padding:0pt;">Outstanding</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:59.65pt;margin:0pt;padding:0pt;">Involuntary</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;"></td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:73.35pt;margin:0pt;padding:0pt;">Exclusive of</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:59.65pt;margin:0pt;padding:0pt;">Asset</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">Liquidating</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">Average</td></tr><tr style="height:9.19pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:73.35pt;margin:0pt;padding:0pt;">Treasury</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:59.65pt;margin:0pt;padding:0pt;">Coverage</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">Preference</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">Market Value</td></tr><tr style="height:9.44pt;"><td style="vertical-align:bottom;width:246.65pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Class and Period</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:73.35pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Securities(1)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:59.65pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">per Unit(2)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">per Unit(3)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">per Unit(4)</td></tr><tr style="height:10.59pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">2027 Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:73.35pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:59.65pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">September 30, 2024 (unaudited)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">152,250</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">4,332</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">152,250</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">4,593</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">152,250</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">4,784</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2018</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">2026 Notes</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">September 30, 2024 (unaudited)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">95,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">6,341</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">95,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">6,759</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">70,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">9,229</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">20,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">31,310</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2018</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">September 30, 2024 (unaudited)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">302,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">2,680</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">272,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">3,011</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">337,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">2,709</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">61,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">10,938</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">99,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">5,710</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">61,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">7,169</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2018</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">Credit Facility– CIBC(5)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">September 30, 2024 (unaudited)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2018</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">59,500</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">3,813</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">Total</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">September 30, 2024 (unaudited)</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">549,250</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">1,924</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2023</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">519,250</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">2,054</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2022</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">559,250</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">2,030</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2021</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">81,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">8,484</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2020</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">99,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">5,710</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;background:#cceeff;margin:0pt;padding:0pt;">December 31, 2019</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;background:#cceeff;margin:0pt;padding:0pt;">61,000</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;background:#cceeff;margin:0pt;padding:0pt;">7,169</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;background:#cceeff;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;background:#cceeff;margin:0pt;padding:0pt;">N/A</td></tr><tr style="height:10.34pt;"><td style="vertical-align:bottom;width:246.65pt;margin:0pt;padding:0pt;">December 31, 2018</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.95pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:67.4pt;margin:0pt;padding:0pt;">59,500</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:5.85pt;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:53.8pt;margin:0pt;padding:0pt;">3,813</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:51.1pt;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:11.55pt;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:63.05pt;margin:0pt;padding:0pt;">N/A</td></tr></table><div style="font-family:'Aptos';font-size:10.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"></div></div><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:10pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">Total amount of each class of senior securities outstanding.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:10pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">Asset coverage per unit is the ratio of the carrying value of total assets, less all liabilities excluding indebtedness represented by senior securities in this table to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:10pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">The amount to which such class of senior security would be entitled upon the Company’s involuntary liquidation in preference to any security junior to it. The “—” in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:10pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">Not applicable because the senior securities are not registered for public trading.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(5)</td><td style="padding:0pt;">On June 22, 2018, the Company entered into the credit facility with CIBC. On May 31, 2019, in conjunction with securing and entering into the new Credit Facility, the Company terminated the credit facility with CIBC.</td></tr></table> 152250 4332 152250 4593 152250 4784 95000 6341 95000 6759 70000 9229 20000 31310 302000 2680 272000 3011 337000 2709 61000 10938 99000 5710 61000 7169 59500 3813 549250 1924 519250 2054 559250 2030 81000 8484 99000 5710 61000 7169 59500 3813 DESCRIPTION OF OUR CAPITAL STOCKThe following description is based on relevant portions of the Maryland General Corporation Law (the “MGCL”) and on our certificate of incorporation and bylaws. This summary is not necessarily complete, and we refer you to the MGCL and our charter and bylaws for a more detailed description of the provisions summarized below.GeneralUnder the terms of our charter, our authorized stock consists of 100 million shares of common stock, par value $0.01 per share, all of which are initially designated as common stock. As permitted by the MGCL, our charter provides that a majority of the entire Board, without any action by our shareholders, may amend the charter from time to time to increase or decrease the aggregate number of shares of stock or the number of shares of stock of any class or series that we have authority to issue. Our charter also provides that the Board may classify or reclassify any unissued shares of our common stock into one or more classes or series of common stock or preferred stock by setting or changing the preferences, conversion or other rights, voting powers, restrictions, or limitations as to dividends, qualifications, or terms or conditions of redemption of the shares. Unless the Board determines otherwise, we will issue all shares of our stock in uncertificated form.None of our shares of common stock are subject to further calls or to assessments, sinking fund provisions, obligations or potential liabilities associated with ownership of the security (not including investment risks).The following presents our outstanding classes of securities as of March 14, 2025:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:fixed;width:100%;"><tr><td style="width:335.4pt;padding:0pt;"></td><td style="width:8pt;padding:0pt;"></td><td style="width:52.04pt;padding:0pt;"></td><td style="width:8pt;padding:0pt;"></td><td style="width:57.15pt;padding:0pt;"></td><td style="width:8pt;padding:0pt;"></td><td style="width:71.41pt;padding:0pt;"></td></tr><tr style="height:46.24pt;"><td style="vertical-align:bottom;width:335.4pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Title of Class</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:52.05pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount Authorized</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount Held byUs or for Our Account</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:71.4pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount Outstanding Exclusive of Amount Held by Us or for Our Account</td></tr><tr style="height:13.47pt;"><td style="vertical-align:bottom;width:335.4pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:52.05pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">100,000,000</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:71.4pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">37,347,428</td></tr></table>Common StockAll shares of our common stock have equal rights as to earnings, assets, voting, and dividends and, when they are issued, will be duly authorized, validly issued, fully paid and nonassessable. Distributions may be paid to the holders of our common stock if, as and when authorized by our Board and declared by us out of assets legally available therefor. Shares of our common stock have no preemptive, conversion or redemption rights and are freely transferable, except where their transfer is restricted by federal and state securities laws or by contract. In the event of our liquidation, dissolution or winding up, each share of our common stock would be entitled to share ratably in all of our assets that are legally available for distribution after we pay all debts and other liabilities and subject to any preferential rights of holders of our preferred stock, if any preferred stock is outstanding at such time. Each share of our common stock is entitled to one vote on all matters submitted to a vote of stockholders, including the election of directors. Except as provided with respect to any other class or series of stock, the holders of our common stock will possess exclusive voting power. There is no cumulative voting in the election of directors, which means that holders of a majority of the outstanding shares of common stock can elect all of our directors, and holders of less than a majority of such shares will be unable to elect any director.Preferred StockUnder the terms of our charter, the Board may authorize us to issue shares of preferred stock in one or more classes or series, without shareholder approval, to the extent permitted by the 1940 Act. The Board has the power to fix the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications and terms and conditions of redemption of each class or series of preferred stock. We do not currently anticipate issuing preferred stock in the near future. In the event we issue preferred stock, we will make any required disclosure to shareholders. We will not offer preferred stock to the Adviser or our affiliates except on the same terms as offered to all other shareholders.Preferred stock could be issued with terms that would adversely affect our shareholders. Preferred stock could also be used as an anti-takeover device through the issuance of shares of a class or series of preferred stock with terms and conditions which could have the effect of delaying, deferring or preventing a transaction or a change in control. Every issuance of preferred stock will be required to comply with the requirements of the 1940 Act. The 1940 Act requires, among other things, that: (1) immediately after issuance and before any dividend or other distribution is made with respect to common stock and before any purchase of common stock is made, such preferred stock together with all other senior securities must not exceed an amount equal to 50% of our total assets after deducting the amount of such dividend, distribution or purchase price, as the case may be, and (2) the holders of shares of preferred stock, if any are issued, must be entitled as a class voting separately to elect two directors at all times and to elect a majority of the directors if distributions on such preferred stock are in arrears by two full years or more. Certain matters under the 1940 Act require the affirmative vote of the holders of at least a majority of the outstanding shares of preferred stock (as determined in accordance with the 1940 Act) voting together as a separate class. For example, the vote of such holders of preferred stock would be required to approve a proposal involving a plan of reorganization adversely affecting such securities.The issuance of any preferred stock must be approved by a majority of the independent directors not otherwise interested in the transaction, who will have access, at our expense, to our legal counsel or to independent legal counsel. common stock The following presents our outstanding classes of securities as of March 14, 2025:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:fixed;width:100%;"><tr><td style="width:335.4pt;padding:0pt;"></td><td style="width:8pt;padding:0pt;"></td><td style="width:52.04pt;padding:0pt;"></td><td style="width:8pt;padding:0pt;"></td><td style="width:57.15pt;padding:0pt;"></td><td style="width:8pt;padding:0pt;"></td><td style="width:71.41pt;padding:0pt;"></td></tr><tr style="height:46.24pt;"><td style="vertical-align:bottom;width:335.4pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Title of Class</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:52.05pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount Authorized</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount Held byUs or for Our Account</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:71.4pt;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Amount Outstanding Exclusive of Amount Held by Us or for Our Account</td></tr><tr style="height:13.47pt;"><td style="vertical-align:bottom;width:335.4pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">Common Stock</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:52.05pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">100,000,000</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:57.15pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">—</td><td style="vertical-align:bottom;white-space:nowrap;width:8pt;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:71.4pt;background:#cceeff;border-top:1px solid #000000;margin:0pt;padding:0pt;">37,347,428</td></tr></table> 100000000 37347428 Common Stock Distributions may be paid to the holders of our common stock if, as and when authorized by our Board and declared by us out of assets legally available therefor. Shares of our common stock have no preemptive, conversion or redemption rights and are freely transferable, except where their transfer is restricted by federal and state securities laws or by contract. In the event of our liquidation, dissolution or winding up, each share of our common stock would be entitled to share ratably in all of our assets that are legally available for distribution after we pay all debts and other liabilities and subject to any preferential rights of holders of our preferred stock, if any preferred stock is outstanding at such time. Each share of our common stock is entitled to one vote on all matters submitted to a vote of stockholders, including the election of directors. Preferred Stock immediately after issuance and before any dividend or other distribution is made with respect to common stock and before any purchase of common stock is made, such preferred stock together with all other senior securities must not exceed an amount equal to 50% of our total assets after deducting the amount of such dividend, distribution or purchase price, as the case may be the holders of shares of preferred stock, if any are issued, must be entitled as a class voting separately to elect two directors at all times and to elect a majority of the directors if distributions on such preferred stock are in arrears by two full years or more. DESCRIPTION OF OUR DEBT SECURITIESWe may issue debt securities in one or more series. The specific terms of each series of debt securities will be described in the particular prospectus supplement relating to that series. The prospectus supplement may or may not modify the general terms found in this prospectus and will be filed with the SEC. For a complete description of the terms of a particular series of debt securities, you should read both this prospectus and the prospectus supplement relating to that particular series. As required by federal law for all bonds and notes of companies that are publicly offered, the debt securities are governed by a document called an “indenture.” An indenture is a contract between us and a financial institution acting as trustee on your behalf, and is subject to and governed by the Trust Indenture Act of 1939, as amended. The trustee has two main roles. First, the trustee can enforce your rights against us if we default. There are some limitations on the extent to which the trustee acts on your behalf, described in the second paragraph under “— Events of Default — Remedies If an Event of Default Occurs.” Second, the trustee performs certain administrative duties for us. Because this section is a summary, it does not describe every aspect of the debt securities and the indenture. We urge you to read the indenture because it, and not this description, defines your rights as a holder of debt securities. For example, in this section, we use capitalized words to signify terms that are specifically defined in the indenture. Some of the definitions are repeated in this prospectus, but for the rest you will need to read the indenture. A copy of the form of indenture is attached as an exhibit to the registration statement of which this prospectus is a part. We will file a supplemental indenture with the SEC in connection with any debt offering, at which time the supplemental indenture would be publicly available. See “Available Information” for information on how to obtain a copy of the applicable indenture.The prospectus supplement, which will accompany this prospectus, will describe the particular series of debt securities being offered, including, among other things: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the designation or title of the series of debt securities; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the total principal amount of the series of debt securities; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the percentage of the principal amount at which the series of debt securities will be offered; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the date or dates on which principal will be payable; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the rate or rates (which may be either fixed or variable) and/or the method of determining such rate or rates of interest, if any; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the date or dates from which any interest will accrue, or the method of determining such date or dates, and the date or dates on which any interest will be payable; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether any interest may be paid by issuing additional securities of the same series in lieu of cash (and the terms upon which any such interest may be paid by issuing additional securities); </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the terms for redemption, extension or early repayment, if any; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the currencies in which the series of debt securities are issued and payable; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether the amount of payments of principal, premium or interest, if any, on a series of debt securities will be determined with reference to an index, formula or other method (which could be based on one or more currencies, commodities, equity indices or other indices) and how these amounts will be determined; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the place or places, if any, other than or in addition to the Borough of Manhattan in the City of New York, of payment, transfer, conversion and/or exchange of the debt securities; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the denominations in which the offered debt securities will be issued (if other than $1,000 and any integral multiple thereof); </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the provision for any sinking fund; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">any restrictive covenants; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">any Events of Default; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether the series of debt securities is issuable in certificated form; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">any provisions for defeasance or covenant defeasance; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">any special federal income tax implications, including, if applicable, U.S. federal income tax considerations relating to original issue discount; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether and under what circumstances we will pay additional amounts in respect of any tax, assessment or governmental charge and, if so, whether we will have the option to redeem the debt securities rather than pay the additional amounts (and the terms of this option); </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">any provisions for convertibility or exchangeability of the debt securities into or for any other securities; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether the debt securities are subject to subordination and the terms of such subordination; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether the debt securities are secured and the terms of any security interest; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the listing, if any, on a securities exchange; and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">any other terms. </td></tr></table><div style="margin-top:12pt;"></div>The debt securities may be secured or unsecured obligations. Unless the prospectus supplement states otherwise, principal (and premium, if any) and interest, if any, will be paid by us in immediately available funds. Generally, pursuant to the 1940 Act, our total borrowings are limited so that we cannot incur additional borrowings if immediately after such borrowing or issuance, the ratio of our total assets (less total liabilities other than indebtedness represented by senior securities) to our total indebtedness represented by senior securities plus preferred stock, if any, is at least 200%. However, legislation enacted in March 2018 has modified the 1940 Act by allowing a BDC to increase the maximum amount of leverage it may incur from an asset coverage ratio of 200% to an asset coverage ratio of 150%, if certain requirements are met. This means that generally, a BDC can borrow up to $1 for every $1 of investor equity or, if certain requirements are met and it reduces its asset coverage ratio, it can borrow up to $2 for every $1 of investor equity. The reduced asset coverage requirement would permit a BDC to double the amount of leverage it could incur. We are permitted to increase our asset coverage ratio to at least 150% if stockholders representing at least a majority of the votes cast, at an annual or special meeting at which quorum is met, approve a proposal to do so. On June 16, 2022, our stockholders approved the reduced asset coverage ratio at our 2022 annual meeting of stockholders. The reduced asset coverage ratio of 150% became effective upon receiving stockholder approval. We may also borrow amounts up to 5% of the value of our gross assets for temporary purposes without regard to asset coverage. For a discussion of the risks associated with leverage, see “Risk Factors—Risks Related to Business Development Companies—Regulations governing our operation as a business development company and RIC affect our ability to raise capital and the way in which we raise additional capital or borrow for investment purposes, which may have a negative effect on our growth. As a business development company, the necessity of raising additional capital may expose us to risks, including risks associated with leverage” in our most recent Annual Report on Form 10-K. General The indenture provides that any debt securities proposed to be sold under this prospectus and the accompanying prospectus supplement (“offered debt securities”) and any debt securities issuable upon the exercise of warrants or upon conversion or exchange of other offered securities (“underlying debt securities”), may be issued under the indenture in one or more series. For purposes of this prospectus, any reference to the payment of principal of, or premium or interest, if any, on, debt securities will include additional amounts if required by the terms of the debt securities. The indenture does not limit the amount of debt securities that may be issued thereunder from time to time. The indenture also provides that there may be more than one trustee thereunder, each with respect to one or more different series of indenture securities. See “— Resignation of Trustee” below. At a time when two or more trustees are acting under the indenture, each with respect to only certain series, the term “indenture securities” means the one or more series of debt securities with respect to which each respective trustee is acting. In the event that there is more than one trustee under the indenture, the powers and trust obligations of each trustee described in this prospectus will extend only to the one or more series of indenture securities for which it is trustee. If two or more trustees are acting under the indenture, then the indenture securities for which each trustee is acting would be treated as if issued under separate indentures. Except as described under “— Events of Default” and “— Merger or Consolidation” below, the indenture does not contain any provisions that give you protection in the event we issue a large amount of debt or we are acquired by another entity. We refer you to the prospectus supplement for information with respect to any deletions from, modifications of or additions to the Events of Default or our covenants that are described below, including any addition of a covenant or other provision providing event risk or similar protection. We have the ability to issue indenture securities with terms different from those of indenture securities previously issued and, without the consent of the holders thereof, to reopen a previous issue of a series of indenture securities and issue additional indenture securities of that series unless the reopening was restricted when that series was created. Conversion and Exchange If any debt securities are convertible into or exchangeable for other securities, the prospectus supplement will explain the terms and conditions of the conversion or exchange, including the conversion price or exchange ratio (or the calculation method), the conversion or exchange period (or how the period will be determined), if conversion or exchange will be mandatory or at the option of the holder or us, provisions for adjusting the conversion price or the exchange ratio and provisions affecting conversion or exchange in the event of the redemption of the underlying debt securities. These terms may also include provisions under which the number or amount of other securities to be received by the holders of the debt securities upon conversion or exchange would be calculated according to the market price of the other securities as of a time stated in the prospectus supplement. Issuance of Securities in Registered Form We may issue the debt securities in registered form, in which case we may issue them either in book-entry form only or in “certificated” form. Debt securities issued in book-entry form will be represented by global securities. We expect that we will usually issue debt securities in book-entry only form represented by global securities. Book-Entry Holders We will issue registered debt securities in book-entry form only, unless we specify otherwise in the applicable prospectus supplement. This means debt securities will be represented by one or more global securities registered in the name of a depositary that will hold them on behalf of financial institutions that participate in the depositary’s book-entry system. These participating institutions, in turn, hold beneficial interests in the debt securities held by the depositary or its nominee. These institutions may hold these interests on behalf of themselves or customers. Under the indenture, only the person in whose name a debt security is registered is recognized as the holder of that debt security. Consequently, for debt securities issued in book-entry form, we will recognize only the depositary as the holder of the debt securities and we will make all payments on the debt securities to the depositary. The depositary will then pass along the payments it receives to its participants, which in turn will pass the payments along to their customers who are the beneficial owners. The depositary and its participants do so under agreements they have made with one another or with their customers; they are not obligated to do so under the terms of the debt securities. As a result, investors will not own debt securities directly. Instead, they will own beneficial interests in a global security, through a bank, broker or other financial institution that participates in the depositary’s book-entry system or holds an interest through a participant. As long as the debt securities are represented by one or more global securities, investors will be indirect holders, and not holders, of the debt securities. Street Name Holders In the future, we may issue debt securities in certificated form or terminate a global security. In these cases, investors may choose to hold their debt securities in their own names or in “street name.” Debt securities held in street name are registered in the name of a bank, broker or other financial institution chosen by the investor, and the investor would hold a beneficial interest in those debt securities through the account he or she maintains at that institution. For debt securities held in street name, we will recognize only the intermediary banks, brokers and other financial institutions in whose names the debt securities are registered as the holders of those debt securities and we will make all payments on those debt securities to them. These institutions will pass along the payments they receive to their customers who are the beneficial owners, but only because they agree to do so in their customer agreements or because they are legally required to do so. Investors who hold debt securities in street name will be indirect holders, and not holders, of the debt securities. Legal Holders Our obligations, as well as the obligations of the applicable trustee and those of any third parties employed by us or the applicable trustee, run only to the legal holders of the debt securities. We do not have obligations to investors who hold beneficial interests in global securities, in street name or by any other indirect means. This will be the case whether an investor chooses to be an indirect holder of a debt security or has no choice because we are issuing the debt securities only in book-entry form. For example, once we make a payment or give a notice to the holder, we have no further responsibility for the payment or notice even if that holder is required, under agreements with depositary participants or customers or by law, to pass it along to the indirect holders but does not do so. Similarly, if we want to obtain the approval of the holders for any purpose (for example, to amend an indenture or to relieve us of the consequences of a default or of our obligation to comply with a particular provision of an indenture), we would seek the approval only from the holders, and not the indirect holders, of the debt securities. Whether and how the holders contact the indirect holders is up to the holders. When we refer to you, we mean those who invest in the debt securities being offered by this prospectus, whether they are the holders or only indirect holders of those debt securities. When we refer to your debt securities, we mean the debt securities in which you hold a direct or indirect interest. Special Considerations for Indirect Holders If you hold debt securities through a bank, broker or other financial institution, either in book-entry form or in street name, we urge you to check with that institution to find out: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">how it handles securities payments and notices, </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether it imposes fees or charges, </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">how it would handle a request for the holders’ consent, if ever required, </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">whether and how you can instruct it to send you debt securities registered in your own name so you can be a holder, if that is permitted in the future for a particular series of debt securities, </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">how it would exercise rights under the debt securities if there were a default or other event triggering the need for holders to act to protect their interests, and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">if the debt securities are in book-entry form, how the depositary’s rules and procedures will affect these matters. </td></tr></table><div style="margin-top:12pt;"></div>Global Securities As noted above, we usually will issue debt securities as registered securities in book-entry form only. A global security represents one or any other number of individual debt securities. Generally, all debt securities represented by the same global securities will have the same terms. Each debt security issued in book-entry form will be represented by a global security that we deposit with and register in the name of a financial institution or its nominee that we select. The financial institution that we select for this purpose is called the depositary. Unless we specify otherwise in the applicable prospectus supplement, The Depository Trust Company, New York, New York, known as DTC, will be the depositary for all debt securities issued in book-entry form. A global security may not be transferred to or registered in the name of anyone other than the depositary or its nominee, unless special termination situations arise. We describe those situations below under “—Special Situations when a Global Security Will Be Terminated”. As a result of these arrangements, the depositary, or its nominee, will be the sole registered owner and holder of all debt securities represented by a global security, and investors will be permitted to own only beneficial interests in a global security. Beneficial interests must be held by means of an account with a broker, bank or other financial institution that in turn has an account with the depositary or with another institution that has an account with the depositary. Thus, an investor whose security is represented by a global security will not be a holder of the debt security, but only an indirect holder of a beneficial interest in the global security. Special Considerations for Global Securities As an indirect holder, an investor’s rights relating to a global security will be governed by the account rules of the investor’s financial institution and of the depositary, as well as general laws relating to securities transfers. The depositary that holds the global security will be considered the holder of the debt securities represented by the global security. If debt securities are issued only in the form of a global security, an investor should be aware of the following: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">An investor cannot cause the debt securities to be registered in his or her name, and cannot obtain certificates for his or her interest in the debt securities, except in the special situations we describe below. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">An investor will be an indirect holder and must look to his or her own bank or broker for payments on the debt securities and protection of his or her legal rights relating to the debt securities, as we describe under “—Issuance of Securities in Registered Form” above. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">An investor may not be able to sell interests in the debt securities to some insurance companies and other institutions that are required by law to own their securities in non-book-entry form. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">An investor may not be able to pledge his or her interest in a global security in circumstances where certificates representing the debt securities must be delivered to the lender or other beneficiary of the pledge in order for the pledge to be effective. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">The depositary’s policies, which may change from time to time, will govern payments, transfers, exchanges and other matters relating to an investor’s interest in a global security. We and the trustee have no responsibility for any aspect of the depositary’s actions or for its records of ownership interests in a global security. We and the trustee also do not supervise the depositary in any way. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">If we redeem less than all the debt securities of a particular series being redeemed, DTC’s practice is to determine by lot the amount to be redeemed from each of its participants holding that series. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">An investor is required to give notice of exercise of any option to elect repayment of its debt securities, through its participant, to the applicable trustee and to deliver the related debt securities by causing its participant to transfer its interest in those debt securities, on DTC’s records, to the applicable trustee. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">DTC requires that those who purchase and sell interests in a global security deposited in its book-entry system use immediately available funds. Your broker or bank may also require you to use immediately available funds when purchasing or selling interests in a global security. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Financial institutions that participate in the depositary’s book-entry system, and through which an investor holds its interest in a global security, may also have their own policies affecting payments, notices and other matters relating to the debt securities. There may be more than one financial intermediary in the chain of ownership for an investor. We do not monitor and are not responsible for the actions of any of those intermediaries. </td></tr></table><div style="margin-top:12pt;"></div>Termination of a Global Security If a global security is terminated, interests in it will be exchanged for certificates in non-book-entry form (certificated securities). After that exchange, the choice of whether to hold the certificated debt securities directly or in street name will be up to the investor. Investors must consult their own banks or brokers to find out how to have their interests in a global security transferred on termination to their own names, so that they will be holders. We have described the rights of legal holders and street name investors under “—Issuance of Securities in Registered Form” above. The prospectus supplement may list situations for terminating a global security that would apply only to the particular series of debt securities covered by the prospectus supplement. If a global security is terminated, only the depositary, and not we or the applicable trustee, is responsible for deciding the names of the institutions in whose names the debt securities represented by the global security will be registered and, therefore, who will be the holders of those debt securities. Payment and Paying Agents We will pay interest to the person listed in the applicable trustee’s records as the owner of the debt security at the close of business on a particular day in advance of each due date for interest, even if that person no longer owns the debt security on the interest due date. That day, usually about two weeks in advance of the interest due date, is called the “record date.” Because we will pay all the interest for an interest period to the holders on the record date, holders buying and selling debt securities must work out between themselves the appropriate purchase price. The most common manner is to adjust the sales price of the debt securities to prorate interest fairly between buyer and seller based on their respective ownership periods within the particular interest period. This prorated interest amount is called “accrued interest.” Payments on Global Securities We will make payments on a global security in accordance with the applicable policies of the depositary as in effect from time to time. Under those policies, we will make payments directly to the depositary, or its nominee, and not to any indirect holders who own beneficial interests in the global security. An indirect holder’s right to those payments will be governed by the rules and practices of the depositary and its participants. Payments on Certificated Securities We will make payments on a certificated debt security as follows. We will pay interest that is due on an interest payment date to the holder of debt securities as shown on the trustee’s records as of the close of business on the regular record date at our office in New York, NY and/or at other offices that may be specified in the prospectus supplement. We will make all payments of principal and premium, if any, by check at the office of the applicable trustee in New York, NY and/or at other offices that may be specified in the prospectus supplement or in a notice to holders against surrender of the debt security. Alternatively, at our option, we may pay any interest that becomes due on the debt security by mailing a check to the holder at his or her address shown on the trustee’s records as of the close of business on the regular record date or by transfer to an account at a bank in the United States, in either case, on the due date. Payment When Offices Are Closed Except as otherwise indicated in the applicable prospectus supplement, if any payment is due on a debt security on a day that is not a business day, we will make the payment on the next day that is a business day. Payments made on the next business day in this situation will be treated under the indenture as if they were made on the original due date, except as otherwise indicated in the applicable prospectus supplement. Such payment will not result in a default under any debt security or the indenture, and no interest will accrue on the payment amount from the original due date to the next day that is a business day. Book-entry and other indirect holders should consult their banks or brokers for information on how they will receive payments on their debt securities. Events of Default You will have rights if an Event of Default occurs in respect of the debt securities of your series and is not cured, as described later in this subsection. The term “Event of Default” in respect of the debt securities of your series means any of the following (unless the prospectus supplement relating to such debt securities states otherwise): <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;">we default in the payment of any interest upon a debt securities of the series when due and payable and the default continues for a period of 30 days; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;">we default in the payment of the principal of (or premium, if any, on) a debt security of the series when it becomes due and payable at its maturity, including upon any redemption date or required repurchase date, and the default continues for a period of five days; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;">we fail for 60 consecutive days after written notice from the trustee or the holders of at least 25% in principal amount of the debt securities of the series then outstanding to us and the trustee, as applicable, has been received to comply with any of our other agreements with respect to debt securities of the series;</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;">pursuant to Section 18(a)(1)(C)(ii) and Section 61 of the 1940 Act, or any successor provisions, on the last business day of each of 24 consecutive calendar months, any class of securities shall have an asset coverage (as such term is used in the 1940 Act) of less than 100%, giving effect to any amendments to such provisions of the 1940 Act or to any exemptive relief granted to us by the SEC; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(5)</td><td style="padding:0pt;">we file for bankruptcy or certain events of bankruptcy, insolvency, or reorganization involving us occur and remain undischarged or unstayed for a period of 60 days; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(6)</td><td style="padding:0pt;">we do not deposit any sinking fund payment in respect of debt securities of the series on its due date, and do not cure this default within five days; and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(7)</td><td style="padding:0pt;">any other Event of Default in respect of debt securities of the series described in the applicable prospectus supplement occurs. </td></tr></table><div style="margin-top:12pt;"></div>An Event of Default for a particular series of debt securities does not necessarily constitute an Event of Default for any other series of debt securities issued under the same or any other indenture. The trustee may withhold notice to the holders of debt securities of any default, except in the payment of principal, premium or interest, if it in good faith considers the withholding of notice to be in the interests of the holders. Remedies If an Event of Default Occurs If an Event of Default has occurred and has not been cured, the trustee or the holders of at least 25% in principal amount of the outstanding debt securities of the affected series may declare the entire principal amount of all the debt securities of that series to be due and immediately payable. This is called a declaration of acceleration of maturity. A declaration of acceleration of maturity may be canceled by the holders of a majority in principal amount of the outstanding debt securities of the affected series if (1) we have deposited with the trustee all amounts due and owing with respect to the securities (other than principal that has become due solely by reason of such acceleration) and certain other amounts, and (2) any other Events of Default have been cured or waived. Except in cases of default, where the trustee has some special duties, the trustee is not required to take any action under the indenture at the request of any holders unless the holders offer the trustee reasonable protection from expenses and liability (called an “indemnity”). If indemnity satisfactory to the trustee is provided, the holders of a majority in principal amount of the outstanding debt securities of the relevant series may direct the time, method and place of conducting any lawsuit or other formal legal action seeking any remedy available to the trustee. The trustee may refuse to follow those directions in certain circumstances. No delay or omission in exercising any right or remedy will be treated as a waiver of that right, remedy or Event of Default. Before you are allowed to bypass your trustee and bring your own lawsuit or other formal legal action or take other steps to enforce your rights or protect your interests relating to the debt securities, the following must occur: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">You must give your trustee written notice that an Event of Default with respect to the relevant series of debt securities has occurred and remains uncured. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">The holders of at least 25% in principal amount of all outstanding debt securities of the relevant series must make a written request that the trustee take action because of the default and must offer to the trustee security or indemnity satisfactory to it against the cost, expenses, and other liabilities of taking that action. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">The trustee must not have taken action for 60 days after receipt of the above notice and offer of security or indemnity. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">The holders of a majority in principal amount of the debt securities of that series must not have given the trustee a direction inconsistent with the above notice during that 60-day period. </td></tr></table><div style="margin-top:12pt;"></div>However, you are entitled at any time to bring a lawsuit for the payment of money due on your debt securities on or after the due date. Holders of a majority in principal amount of the debt securities of the affected series may waive any past defaults other than a default <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">in the payment of principal, any premium, or interest or </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">in respect of a covenant that cannot be modified or amended without the consent of each holder. </td></tr></table><div style="margin-top:12pt;"></div>Book-entry and other indirect holders should consult their banks or brokers for information on how to give notice or direction to or make a request of the trustee and how to declare or cancel an acceleration of maturity. Each year, we will furnish to each trustee a written statement of certain of our officers certifying that to their knowledge we are in compliance with the indenture and the debt securities or else specifying any default. Merger, Consolidation or Sale of Assets Unless the prospectus supplement relating to certain debt securities states otherwise, the indenture will provide that we will not merge or consolidate with or into any other person (other than a merger of a wholly-owned subsidiary into us), or sell, transfer, lease, convey or otherwise dispose of all or substantially all our property (provided that, for the avoidance of doubt, a pledge of assets pursuant to any secured debt instrument of the Company or its subsidiaries shall not be deemed to be any such sale, transfer, lease, conveyance or disposition; and provided further that this covenant shall not apply to any sale, transfer, lease, conveyance, or other disposition of all or substantially all of the Company’s property to a wholly-owned subsidiary of the Company) in any one transaction or series of related transactions unless: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">we are the surviving person (the “Surviving Person”) or the Surviving Person (if other than us) formed by such merger or consolidation or to which such sale, transfer, lease, conveyance or disposition is made shall be a corporation or limited liability company organized and existing under the laws of the United States of America or any state or territory thereof; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">the Surviving Person (if other than us) expressly assumes, by supplemental indenture in form reasonably satisfactory to the trustee, executed and delivered to the trustee by such Surviving Person, the due and punctual payment of the principal of, and premium, if any, and interest on, all the Notes outstanding, and the due and punctual performance and observance of all the covenants and conditions of the indenture to be performed by us; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">immediately before and immediately after giving effect to such transaction or series of related transactions, no default or Event of Default shall have occurred and be continuing; and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">we shall deliver, or cause to be delivered, to the trustee, an officers’ certificate and an opinion of counsel, each stating that such transaction and the supplemental indenture, if any, in respect thereto, comply with this covenant, that all conditions precedent in the indenture relating to such transaction have been complied with. </td></tr></table><div style="margin-top:12pt;"></div>For the purposes of this covenant, the sale, transfer, lease, conveyance or other disposition of all the property of one or more of our subsidiaries, which property, if held by us instead of such subsidiaries, would constitute all or substantially all of our property on a consolidated basis, shall be deemed to be the transfer of all or substantially all of our property. Although there is a limited body of case law interpreting the phrase “substantially all”, there is no precise established definition of the phrase under applicable law. Accordingly, in certain circumstances there may be a degree of uncertainty as to whether a particular transaction would involve “all or substantially all” of the properties or assets of a person. As a result, it may be unclear as to whether the merger, consolidation or sale of assets covenant would apply to a particular transaction as described above absent a decision by a court of competent jurisdiction. Modification or Waiver There are three types of changes we can make to the indenture and the debt securities issued thereunder.Changes Requiring Approval First, there are changes that we cannot make to the debt securities without the specific approval by the holders of debt securities. The following is a list of those types of changes: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">change the stated maturity of the principal of or interest on the debt securities; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce any amounts due on the debt securities; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce the amount of principal payable upon acceleration of the maturity of a security following a default; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">adversely affect any right of repayment at the holder’s option; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">change the place (except as otherwise described in the prospectus or prospectus supplement) or currency of payment on a debt security; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">impair your right to sue for payment; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">adversely affect any right to convert or exchange a debt security in accordance with its terms; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">modify the subordination provisions in the indenture in a manner that is adverse to outstanding holders of the debt securities; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce the percentage of holders of debt securities whose consent is needed to modify or amend the indenture; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">reduce the percentage of holders of debt securities whose consent is needed to waive compliance with certain provisions of the indenture or to waive certain defaults; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">modify certain of the provisions of the indenture dealing with supplemental indentures, modification and waiver of past defaults, changes to the quorum or voting requirements or the waiver of certain covenants; and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">change any obligation we have to pay additional amounts. </td></tr></table><div style="margin-top:12pt;"></div>Changes Not Requiring Approval The second type of change does not require any vote by the holders of the debt securities. This type is limited to clarifications, establishment of the form or terms of new securities of any series as permitted by the indenture, and certain other changes that would not adversely affect holders of the outstanding debt securities in any material respect, including adding additional covenants or events of default. We also do not need any approval to make any change that affects only debt securities to be issued under the indenture after the change takes effect. Changes Requiring Majority Approval Any other change to the indenture and the debt securities would require the following approval: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">If the change affects only one series of debt securities, it must be approved by the holders of a majority in principal amount of that series. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="color:#231f20;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">If the change affects more than one series of debt securities issued under the same indenture, it must be approved by the holders of a majority in principal amount of all of the series affected by the change, with all affected series voting together as one class for this purpose. </td></tr></table><div style="margin-top:12pt;"></div>The holders of a majority in principal amount of a series of debt securities issued under an indenture, or all series, voting together as one class for this purpose, may waive our compliance with some of our covenants in that indenture. However, we cannot obtain a waiver of a payment default or of any of the matters covered by the bullet points included above under “— Changes Requiring Your Approval.” Further Details Concerning Voting When taking a vote, we will use the following rules to decide how much principal to attribute to a debt security: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">For original issue discount securities, we will use the principal amount that would be due and payable on the voting date if the maturity of these debt securities were accelerated to that date because of a default. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">For debt securities whose principal amount is not known (for example, because it is based on an index), we will use a special rule for that debt security described in the prospectus supplement. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">For debt securities denominated in one or more foreign currencies, we will use the U.S. dollar equivalent. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Debt securities will not be considered outstanding, and therefore not eligible to vote, if we have deposited or set aside in trust money for their payment or redemption. Debt securities will also not be eligible to vote if they have been fully defeased as described later under “— Defeasance — Full Defeasance.” </td></tr></table><div style="margin-top:12pt;"></div>We will generally be entitled to set any day as a record date for the purpose of determining the holders of outstanding indenture securities that are entitled to vote or take other action under the indenture. If we set a record date for a vote or other action to be taken by holders of one or more series, that vote or action may be taken only by persons who are holders of outstanding indenture securities of those series on the record date and must be taken within eleven months following the record date. Book-entry and other indirect holders should consult their banks or brokers for information on how approval may be granted or denied if we seek to change the indenture or the debt securities or request a waiver. Satisfaction and Discharge We may satisfy and discharge our obligations under the indenture by delivering to the securities registrar for cancellation all debt securities of the series then outstanding or by depositing with the trustee, in trust, funds in U.S. dollars in an amount sufficient to pay all of the debt securities of the series then outstanding after such debt securities have become due and payable or will become due and payable within one year (or scheduled for redemption within one year). Such discharge is subject to terms contained in the indenture. Defeasance The following provisions will be applicable to each series of debt securities unless we state in the applicable prospectus supplement that the provisions of covenant defeasance and full defeasance will not be applicable to that series. Covenant Defeasance If certain conditions are satisfied, we can make the deposit described below and be released from some of the restrictive covenants in the indenture under which the particular series was issued. This is called “covenant defeasance.” In that event, you would lose the protection of those restrictive covenants but would gain the protection of having money and government securities set aside in trust to repay your debt securities. If applicable, you also would be released from the subordination provisions described under “— Indenture Provisions — Subordination” below. In order to achieve covenant defeasance, we must do the following: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">If the debt securities of a particular series are denominated in U.S. dollars, we must deposit in trust for the benefit of all holders of the debt securities of a particular series a combination of money and United States government or United States government agency notes or bonds that will generate enough cash, in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants, to make interest, principal and any other payments on the debt securities of the particular series on their various due dates.</td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the trustee a legal opinion of our counsel confirming that, under current U.S. federal income tax law, we may make the above deposit without causing you to recognize income, gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance or to be taxed on the debt securities any differently than if we did not make the deposit and repaid the debt securities at maturity. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the trustee a legal opinion and officers’ certificate stating that all conditions precedent to covenant defeasance have been complied with. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Covenant defeasance must not result in a breach or violation of, or result in a default under, the indenture or any of our other material agreements or instruments. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">No default or Event of Default with respect to such debt securities and any coupons appertaining thereto shall have occurred and be continuing and no defaults or events of default related to bankruptcy, insolvency or reorganization shall occur during the next 90 days. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Satisfy the conditions for covenant defeasance contained in any supplemental indentures. </td></tr></table><div style="margin-top:12pt;"></div>If we accomplished covenant defeasance, you can still look to us for repayment of the debt securities if there were a shortfall in the trust deposit or the trustee is prevented from making payment. For example, if one of the remaining Events of Default occurred (such as our bankruptcy) and the debt securities became immediately due and payable, there might be a shortfall. Depending on the event causing the default, you may not be able to obtain payment of the shortfall. Legal Defeasance If there is a change in U.S. federal tax law or we obtain an IRS ruling, as described below, we can legally release ourselves from all payment and other obligations on the debt securities of a particular series (called “defeasance” or “legal defeasance”) if we put in place the following other arrangements for you to be repaid: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">If the debt securities of a particular series are denominated in U.S. dollars, we must deposit in trust for the benefit of all holders of the debt securities of a particular series a combination of money and United States government or United States government agency notes or bonds that will generate enough cash, in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants, to make interest, principal and any other payments on the debt securities of the particular series on their various due dates. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the trustee a legal opinion confirming that there has been a change in current U.S. federal tax law or an IRS ruling that allows us to make the above deposit without causing you to recognize income, gain, or loss for U.S. federal income tax purposes as a result of such defeasance or to be taxed on the debt securities any differently than if we did not make the deposit and repaid the debt securities at maturity. Under current U.S. federal tax law, the deposit and our legal release from the debt securities would be treated as though we paid you your share of the cash and notes or bonds at the time the cash and notes or bonds were deposited in trust in exchange for your debt securities and you would recognize gain or loss on the debt securities at the time of the deposit. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">We must deliver to the trustee a legal opinion and officers’ certificate stating that all conditions precedent to defeasance have been complied with. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Defeasance must not result in a breach or violation of, or result in a default under, the indenture or any of our other material agreements or instruments. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">No default or Event of Default with respect to such debt securities and any coupons appertaining thereto shall have occurred and be continuing and no defaults or events of default related to bankruptcy, insolvency or reorganization shall occur during the next 90 days. </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">Satisfy the conditions for covenant defeasance contained in any supplemental indentures. </td></tr></table><div style="margin-top:12pt;"></div>If we ever accomplished legal defeasance, as described above, you would have to rely solely on the trust deposit for repayment of your debt securities. You could not look to us for repayment in the unlikely event of any shortfall. Conversely, the trust deposit would most likely be protected from claims of our lenders and other creditors if we ever became bankrupt or insolvent. If applicable, you would also be released from the subordination provisions described later under “—Indenture Provisions — Subordination”. Form, Exchange and Transfer of Certificated Registered Securities If registered debt securities cease to be issued in book-entry form, they will be issued:<table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">only in fully registered certificated form, </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">without interest coupons, and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">unless we indicate otherwise in the prospectus supplement, in denominations of $1,000 and amounts that are multiples of $1,000. </td></tr></table><div style="margin-top:12pt;"></div>Holders may exchange their certificated securities, if any, for debt securities of smaller denominations or combined into fewer debt securities of larger denominations, as long as the total principal amount is not changed and as long as the denomination is greater than the minimum denomination for such securities. Holders may exchange or transfer their certificated securities, if any, at the office of their trustee. We have appointed the trustee to act as our agent for registering debt securities in the names of holders transferring debt securities. We may appoint another entity to perform these functions or perform them ourselves. Holders will not be required to pay a service charge to transfer or exchange their certificated securities, if any, but they may be required to pay any tax or other governmental charge associated with the transfer or exchange. The transfer or exchange will be made only if our transfer agent is satisfied with the holder’s proof of legal ownership. If we have designated additional transfer agents for your debt security, they will be named in your prospectus supplement. We may appoint additional transfer agents or cancel the appointment of any particular transfer agent. We may also approve a change in the office through which any transfer agent acts. If any certificated securities of a particular series are redeemable and we redeem less than all the debt securities of that series, we may block the transfer or exchange of those debt securities during the period beginning 15 days before the day we mail the notice of redemption and ending on the day of that mailing, in order to freeze the list of holders to prepare the mailing. We may also refuse to register transfers or exchanges of any certificated securities selected for redemption, except that we will continue to permit transfers and exchanges of the unredeemed portion of any debt security that will be partially redeemed. If a registered debt security is issued in book-entry form, only the depositary will be entitled to transfer and exchange the debt security as described in this subsection, since it will be the sole holder of the debt security. Resignation of Trustee Each trustee may resign or be removed with respect to one or more series of indenture securities provided that a successor trustee is appointed to act with respect to these series and has accepted such appointment. In the event that two or more persons are acting as trustee with respect to different series of indenture securities under the indenture, each of the trustees will be a trustee of a trust separate and apart from the trust administered by any other trustee. Indenture Provisions — Subordination Upon any distribution of our assets upon our dissolution, winding up, liquidation or reorganization, the payment of the principal of (and premium, if any) and interest, if any, on any indenture securities denominated as subordinated debt securities is to be subordinated to the extent provided in the indenture in right of payment to the prior payment in full of all Senior Indebtedness (as defined below), but our obligation to you to make payment of the principal of (and premium, if any) and interest, if any, on such subordinated debt securities will not otherwise be affected. In addition, no payment on account of principal (or premium, if any), sinking fund or interest, if any, may be made on such subordinated debt securities at any time unless full payment of all amounts due in respect of the principal (and premium, if any), sinking fund and interest on Senior Indebtedness has been made or duly provided for in money or money’s worth. In the event that, notwithstanding the foregoing, any payment by us is received by the trustee in respect of subordinated debt securities or by the holders of any of such subordinated debt securities before all Senior Indebtedness is paid in full, the payment or distribution must be paid over to the holders of the Senior Indebtedness or on their behalf for application to the payment of all the Senior Indebtedness remaining unpaid until all the Senior Indebtedness has been paid in full, after giving effect to any concurrent payment or distribution to the holders of the Senior Indebtedness. Subject to the payment in full of all Senior Indebtedness upon this distribution by us, the holders of such subordinated debt securities will be subrogated to the rights of the holders of the Senior Indebtedness to the extent of payments made to the holders of the Senior Indebtedness out of the distributive share of such subordinated debt securities. By reason of this subordination, in the event of a distribution of our assets upon our insolvency, certain of our senior creditors may recover more, ratably, than holders of any subordinated debt securities. The indenture provides that these subordination provisions will not apply to money and securities held in trust under the defeasance provisions of the indenture. “Senior Indebtedness” is defined in the indenture as the principal of (and premium, if any) and unpaid interest on: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">our indebtedness (including indebtedness of others guaranteed by us), whenever created, incurred, assumed or guaranteed, for money borrowed (other than indenture securities issued under the indenture and denominated as subordinated debt securities), unless in the instrument creating or evidencing the same or under which the same is outstanding it is provided that this indebtedness is not senior or prior in right of payment to the subordinated debt securities, and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">renewals, extensions, modifications and refinancings of any of this indebtedness. </td></tr></table><div style="margin-top:12pt;"></div>If this prospectus is being delivered in connection with the offering of a series of indenture securities denominated as subordinated debt securities, the accompanying prospectus supplement will set forth the approximate amount of our Senior Indebtedness outstanding as of a recent date. Secured Indebtedness and Ranking We may issue two types of unsecured indebtedness obligations: senior and subordinated. Senior unsecured indebtedness obligations refer to those that rank senior in right of payment to all of our future indebtedness that is expressly subordinated in right of payment to such indebtedness. Subordinated unsecured indebtedness obligations refer to those that are expressly subordinated in right of payment to other unsecured obligations. Certain of our indebtedness, including certain series of indenture securities, may be secured. The prospectus supplement for each series of indenture securities will describe the terms of any security interest for such series and will indicate the approximate amount of our secured indebtedness as of a recent date. Any unsecured indenture securities will effectively rank junior to any secured indebtedness, including any secured indenture securities, that we incur in the future to the extent of the value of the assets securing such future secured indebtedness. Our debt securities, whether secured or unsecured, will rank structurally junior to all existing and future indebtedness (including trade payables) incurred by our subsidiaries, financing vehicles or similar facilities, with respect to claims on the assets of any such subsidiaries, financing vehicles, or similar facilities. In the event of our bankruptcy, liquidation, reorganization or other winding up, any of our assets that secure secured debt will be available to pay obligations on unsecured debt securities only after all indebtedness under such secured debt has been repaid in full from such assets. We advise you that there may not be sufficient assets remaining to pay amounts due on any or all unsecured debt securities then outstanding after fulfillment of this obligation. As a result, the holders of unsecured indenture securities may recover less, ratably, than holders of any of our secured indebtedness. The Trustee under the Indenture We intend to use a nationally recognized financial institution to serve as the trustee under the indenture.Certain Considerations Relating To Foreign CurrenciesDebt securities denominated or payable in foreign currencies may entail significant risks. These risks include the possibility of significant fluctuations in the foreign currency markets, the imposition or modification of foreign exchange controls and potential illiquidity in the secondary market. These risks will vary depending upon the currency or currencies involved and will be more fully described in the applicable prospectus supplement. Book-Entry Debt Securities Unless otherwise specified in the applicable prospectus supplement, the debt securities will be issued in book-entry form, and the Depository Trust Company, or DTC, will act as securities depository for the debt securities. Unless otherwise specified in the applicable prospectus supplement, the debt securities will be issued as fully registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully registered certificate will be issued for the debt securities, in the aggregate principal amount of such issue, and will be deposited with DTC. If, however, the aggregate principal amount of any issue exceeds $500 million, one certificate will be issued with respect to each $500 million of principal amount, and an additional certificate will be issued with respect to any remaining principal amount of such issue. DTC has advised us that it is: <table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a limited purpose trust company organized under the laws of the State of New York; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a “banking organization” within the meaning of the New York State Banking Law; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a member of the Federal Reserve System; </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a “clearing corporation” within the meaning of the Uniform Commercial Code; and </td></tr></table><table style="border-collapse:collapse;font-family:'Aptos';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;">a “clearing agency” registered under Section 17A of the Exchange Act. </td></tr></table><div style="margin-top:12pt;"></div>DTC was created to hold securities for its participants and to facilitate the clearance and settlement of securities transactions between its participants through electronic book-entry changes to the accounts of its participants. DTC’s participants, or Direct Participants, include securities brokers and dealers, including the underwriters; banks and trust companies; clearing corporations and other organizations. Indirect access to DTC’s system is also available to others such as banks, brokers, dealers and trust companies; these indirect participants clear through or maintain a custodial relationship with a DTC participant, either directly or indirectly. Investors who are not DTC participants may beneficially own securities held by or on behalf of DTC only through DTC participants or indirect participants in DTC. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation, or DTCC. DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly, or Indirect Participants. The DTC Rules applicable to its Participants are on file with the SEC. Purchases of debt securities under the DTC system must be made by or through Direct Participants, which will receive a credit for the debt securities on DTC’s records. The ownership interest of each actual purchaser of each security, or Beneficial Owner, is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the debt securities are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in debt securities, except in the event that use of the book-entry system for the debt securities is discontinued. To facilitate subsequent transfers, all debt securities deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co. or such other name as may be requested by an authorized representative of DTC. The deposit of debt securities with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the debt securities; DTC’s records reflect only the identity of the Direct Participants to whose accounts such debt securities are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Redemption notices shall be sent to DTC. If less than all of the debt securities within an issue are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to the debt securities unless authorized by a Direct Participant in accordance with DTC’s Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to us as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts the debt securities are credited on the record date (identified in a listing attached to the Omnibus Proxy). Redemption proceeds, distributions, and interest payments on the debt securities will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from us or the trustee on the payment date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC or its nominee, the trustee, or us, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and interest payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of us or the trustee, but disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. DTC may discontinue providing its services as depository with respect to the debt securities at any time by giving reasonable notice to us or to the trustee. Under such circumstances, in the event that a successor depository is not obtained, certificates are required to be printed and delivered. We may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor securities depository). In that event, certificates will be printed and delivered to DTC. The information in this section concerning DTC and DTC’s book-entry system has been obtained from sources that we believe to be reliable, but we take no responsibility for the accuracy thereof.