| Commitments and Contingencies |
Note 7. Commitments and Contingencies The Company may enter into investment commitments through executed credit agreements or commitment letters. In many circumstances for executed commitment letters, borrower acceptance and final terms are subject to transaction-related contingencies. As of September 30, 2026 the Company believed that it had adequate financial resources to satisfy its unfunded commitments. As of September 30, 2026 and December 31, 2025, the Company had the following unfunded commitments: | | | | | | | | | (In thousands) | | Par as of | Company | | Investment | | September 30, 2026 | | December 31, 2025 | Ag Bells LLC | | First Lien Revolving Loan | | $ | 1,537 | | $ | 1,537 | Allworth Financial Group, L.P. | | First Lien Delayed Draw Term Loan | | | — | | | 2,344 | Allworth Financial Group, L.P. | | First Lien Revolving Loan | | | — | | | 261 | Alpha Aesthetics Partners Opco, LLC | | First Lien Delayed Draw Term Loan | | | 7,465 | | | 10,966 | Alpha Aesthetics Partners Opco, LLC | | First Lien Revolving Loan | | | 1,919 | | | 2,742 | Ambient Enterprises Intermediate, LLC | | First Lien Delayed Draw Term Loan | | | 1,705 | | | — | Ambient Enterprises Intermediate, LLC | | First Lien Revolving Loan | | | 2,071 | | | — | Ampler QSR Holdings LLC | | First Lien Revolving Loan | | | 2,212 | | | 2,212 | Arax Midco, LLC | | First Lien Delayed Draw Term Loan | | | — | | | 2,438 | Axiometrix Solutions Portfolio Co. | | First Lien Revolving Loan | | | — | | | 1,859 | Barricade Holdings, LLC | | First Lien Delayed Draw Term Loan | | | 9,000 | | | — | Barricade Holdings, LLC | | First Lien Revolving Loan | | | 2,100 | | | — | Centex Acquisition, LLC | | First Lien Revolving Loan | | | 215 | | | — | Crestek, Inc. | | First Lien Revolving Loan | | | 1,136 | | | — | Esp Associates | | First Lien Delayed Draw Term Loan | | | 319 | | | — | Esp Associates | | First Lien Revolving Loan | | | 1,160 | | | — | Kept Companies, Inc. | | First Lien Delayed Draw Term Loan | | | 5,330 | | | — | Kids Empire USA LLC | | First Lien Delayed Draw Term Loan | | | 8,826 | | | — | Komline-Sanderson Group, Inc. | | First Lien Delayed Draw Term Loan | | | 3,232 | | | — | Komline-Sanderson Group, Inc. | | First Lien Revolving Loan | | | 1,389 | | | 1,364 | Mood Media Borrower, LLC | | First Lien Revolving Loan | | | 1,201 | | | 1,201 | OneZero Financial Systems, LLC | | First Lien Delayed Draw Term Loan | | | 550 | | | 610 | OneZero Financial Systems, LLC | | First Lien Revolving Loan | | | 656 | | | 656 | PCE Acquisition, LLC | | First Lien Delayed Draw Term Loan | | | 4,549 | | | — | PCE Acquisition, LLC | | First Lien Revolving Loan | | | 3,787 | | | — | Peak Utility | | First Lien Delayed Draw Term Loan | | | 7,661 | | | — | Peak Utility | | First Lien Revolving Loan | | | 1,643 | | | — | Pediatric Home Respiratory Services, LLC | | First Lien Delayed Draw Term Loan | | | 2,730 | | | 2,730 | Pediatric Home Respiratory Services, LLC | | First Lien Revolving Loan | | | 1,517 | | | 1,517 | Pelco Holding Corp. | | First Lien Delayed Draw Term Loan | | | 3,030 | | | — | Quisitive LLC | | First Lien Revolving Loan | | | 1,593 | | | 2,276 | Riverside Insights | | First Lien Delayed Draw Term Loan | | | 1,526 | | | — | Rostrum Records, LLC | | First Lien Delayed Draw Term Loan | | | 1,768 | | | 3,118 | StrategyCorps, LLC | | First Lien Delayed Draw Term Loan | | | — | | | 2,274 | StrategyCorps, LLC | | First Lien Revolving Loan | | | 859 | | | 995 | TechData Acquisitions, LLC | | First Lien Delayed Draw Term Loan | | | 2,364 | | | — | UKi Buyer LLC | | First Lien Delayed Draw Term Loan | | | 15,379 | | | — | UKi Buyer LLC | | First Lien Revolving Loan | | | 3,076 | | | — | VTC Buyer Corp. | | First Lien Delayed Draw Term Loan | | | 935 | | | 935 | VTC Buyer Corp. | | First Lien Revolving Loan | | | 700 | | | 1,308 | Whitsons Holding Group, LLC | | First Lien Delayed Draw Term Loan | | | 4,615 | | | — | Whitsons Holding Group, LLC | | First Lien Revolving Loan | | | 3,077 | | | — | World Insurance Associates, LLC | | First Lien Delayed Draw Term Loan | | | 4,000 | | | — | World Travel Holdings, LLC | | First Lien Delayed Draw Term Loan | | | 2,381 | | | — | World Travel Holdings, LLC | | First Lien Revolving Loan | | | 2,381 | | | — | Xposure Music Holdings Inc. | | First Lien Delayed Draw Term Loan | | | 7,600 | | | 16,750 | Xposure Music Holdings Inc. | | First Lien Revolving Loan | | | 2,500 | | | 2,500 | Zero To One AI Inc. | | First Lien Delayed Draw Term Loan | | | 4,000 | | | — | Zero To One AI Inc. | | First Lien Revolving Loan | | | 1,667 | | | — | Total Unfunded Debt Investments(1) | | | | | 137,361 | | | 62,593 | Equity Investments: | | | | | | | | | Total Unfunded Commitments to Equity Investments(2) | | | | | 11,327 | | | — | Total Unfunded Commitments | | | | $ | 148,688 | | $ | 62,593 |
| (1) | The Adviser’s determination of the fair value of the current investments in these portfolio companies includes an analysis of the fair value of any unfunded commitments. | |
| (2) | The amount represents uncalled capital commitments in the Rated JV. | |
From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of September 30, 2026 and December 31, 2025, the Company is not aware of any pending or threatened litigation. Additionally, in the ordinary course of its business, the Company enters into contracts or agreements that contain indemnification or warranties. Future events could occur that lead to the execution of these provisions against the Company. The Company believes that the likelihood of such an event is remote; however, the maximum potential exposure is unknown. No accrual has been made in the consolidated financial statements as of September 30, 2026 and December 31, 2025 for any such exposure.
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