Common use of Company Disclosures Clause in Contracts

Company Disclosures. (i) The Manager shall be responsible for preparing the Company’s registration statements and supplements to the Company’s prospectuses and statements of additional information (“Disclosure Documents”), and for filing or arranging for the filing of such Disclosure Documents with the SEC and other federal and state regulatory authorities as may be required by applicable law. (ii) Notwithstanding anything in Section 9 or elsewhere in this Agreement, the Manager shall exercise reasonable care consistent with a fiduciary duty in fulfilling its responsibilities under Section 9(c)(i) of this Agreement. (iii) In the event of a claim, litigation, liability, or a regulatory action or investigation (collectively, a “Disclosure Claim”) that arises out of or is based upon the disclosure in a Disclosure Document for the Company (including, but not limited to, a claim arising from an untrue statement or alleged untrue statement in a registration statement for the Company or an omission or alleged omission of a material fact required to be stated therein or necessary to make statements made in a registration statement not misleading), the Manager shall indemnify and hold harmless the Company and each individual who, during the term of this Agreement, serves or had served as a Director of the Company who is not an “interested person” of the Company, as such term is defined in the 1940 Act (an “Independent Director”), if such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation or filing of the Company’s Disclosure Documents for the loss, costs, or damages, including amounts paid in settlement with the written consent of the Manager, which consent shall not be unreasonably withheld, and including reasonable legal and other expenses, that arise from such Disclosure Claim. (iv) In addition to the indemnification provided in Section 9(c)(iii) of this Agreement, the Manager agrees to indemnify and hold harmless the Independent Directors for the costs of defense of a Disclosure Claim, including reasonable attorney’s fees, regardless of whether such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation of the Company’s Disclosure Documents, subject to the Manager’s right to assume the defense of such Disclosure Claim pursuant to Section 9(c)(ix) of this Agreement. (v) The parties expressly acknowledge that this Section 9(c) confers rights and remedies upon the Company and each Independent Director, including the right to enforce the indemnification provided for in Sections 9(c)(iii) and 9(c)(iv) of this Agreement. The obligation of the Manager to provide indemnification to the Company and the Independent Directors, as set forth in this Section 9(c), shall remain in effect after the termination of this Agreement. (vi) The indemnification of the Company provided for in Section 9(c)(iii) of this Agreement shall apply only to the extent that any loss to the Company is not covered by insurance held by the Company, and shall not apply if: (A) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; or (B) indemnification is not allowed under applicable law. (vii) The indemnification of an Independent Director provided in Sections 9(c)(iii) and 9(c)(iv) of this Agreement shall apply only to the extent that any loss to the Independent Director is not covered by insurance held by the Company or the Independent Director , and shall not apply if: (A) losses are actually indemnified by the Company, consistent with the Company’s organizational documents; (B) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; (C) losses are the result of willful misfeasance, bad faith, gross negligence or reckless disregard on the part of an Independent Director; or (D) indemnification is not allowed under applicable law. (viii) The Manager shall not be liable for indemnification of an Independent Director under this Section 9(c) unless the Independent Director has notified the Manager in writing within a reasonable time after the summons or other first legal process giving information of the nature of the Disclosure Claim is served upon such Independent Director (or after such Independent Director shall have received notice of such service on any designated agent); provided, however, that notification of the Manager is not required if the Manager had actual knowledge about the nature of the Disclosure Claim. In the event of a request for indemnification from an Independent Director, the Manager shall pay advances to the fullest extent permissible under the 1940 Act and applicable state law. (ix) In the event of a request for indemnification from the Company or an Independent Director (“Indemnified Party”), the Manager shall be entitled, upon notice to the Indemnified Party, to assume the defense of any Disclosure Claim against the Indemnified Party, with counsel satisfactory to the Manager and the Indemnified Party. (x) Sections 9(a) and 9(b) shall not apply to a claim for indemnification under this Section 9(c).

Company Disclosures. (i) The Manager shall be responsible for preparing the Company’s registration statements and supplements to the Company’s prospectuses and statements of additional information (“Disclosure Documents”), and for filing or arranging for the filing of such Disclosure Documents with the SEC and other federal and state regulatory authorities as may be required by applicable law. (ii) Notwithstanding anything in Section 9 8 or elsewhere in this Agreement, the Manager shall exercise reasonable care consistent with a fiduciary duty in fulfilling its responsibilities under Section 9(c)(i8(c)(i) of this Agreement. (iii) In the event of a claim, litigation, liability, or a regulatory action or investigation (collectively, a “Disclosure Claim”) that arises out of or is based upon the disclosure in a Disclosure Document for the Company (including, but not limited to, a claim arising from an untrue statement or alleged untrue statement in a registration statement for the Company or an omission or alleged omission of a material fact required to be stated therein or necessary to make statements made in a registration statement not misleading), the Manager shall indemnify and hold harmless the Company and each individual who, during the term of this Agreement, serves or had served as a Director of the Company who is not an “interested person” of the Company, as such term is defined in the 1940 Act (an “Independent Director”), if such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation or filing of the Company’s Disclosure Documents for the loss, costs, or damages, including amounts paid in settlement with the written consent of the Manager, which consent shall not be unreasonably withheld, and including reasonable legal and other expenses, that arise from such Disclosure Claim. (iv) In addition to the indemnification provided in Section 9(c)(iii8(c)(iii) of this Agreement, the Manager agrees to indemnify and hold harmless the Independent Directors for the costs of defense of a Disclosure Claim, including reasonable attorney’s fees, regardless of whether such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation of the Company’s Disclosure Documents, subject to the Manager’s right to assume the defense of such Disclosure Claim pursuant to Section 9(c)(ix8(c)(ix) of this Agreement. (v) The parties expressly acknowledge that this Section 9(c8(c) confers rights and remedies upon the Company and each Independent Director, including the right to enforce the indemnification provided for in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement. The obligation of the Manager to provide indemnification to the Company and the Independent Directors, as set forth in this Section 9(c8(c), shall remain in effect after the termination of this Agreement. (vi) The indemnification of the Company provided for in Section 9(c)(iii8(c)(iii) of this Agreement shall apply only to the extent that any loss to the Company is not covered by insurance held by the Company, and shall not apply if: (A) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; or (B) indemnification is not allowed under applicable law. (vii) The indemnification of an Independent Director provided in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement shall apply only to the extent that any loss to the Independent Director is not covered by insurance held by the Company or the Independent Director Director, and shall not apply if: (A) losses are actually indemnified by the Company, consistent with the Company’s organizational documents; (B) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; (C) losses are the result of willful misfeasance, bad faith, gross negligence or reckless disregard on the part of an Independent Director; or (D) indemnification is not allowed under applicable law. (viii) The Manager shall not be liable for indemnification of an Independent Director under this Section 9(c8(c) unless the Independent Director has notified the Manager in writing within a reasonable time after the summons or other first legal process giving information of the nature of the Disclosure Claim is served upon such Independent Director (or after such Independent Director shall have received notice of such service on any designated agent); provided, however, that notification of the Manager is not required if the Manager had actual knowledge about the nature of the Disclosure Claim. In the event of a request for indemnification from an Independent Director, the Manager shall pay advances to the fullest extent permissible under the 1940 Act and applicable state law. (ix) In the event of a request for indemnification from the Company or an Independent Director (“Indemnified Party”), the Manager shall be entitled, upon notice to the Indemnified Party, to assume the defense of any Disclosure Claim against the Indemnified Party, with counsel satisfactory to the Manager and the Indemnified Party. (x) Sections 9(a8(a) and 9(b8(b) shall not apply to a claim for indemnification under this Section 9(c8(c).

Company Disclosures. (i) The Manager shall be responsible for preparing the Company’s registration statements and supplements to the Company’s prospectuses and statements of additional information (“Disclosure Documents”), and for filing or arranging for the filing of such Disclosure Documents with the SEC and other federal and state regulatory authorities as may be required by applicable law. (ii) Notwithstanding anything in Section 9 8 or elsewhere in this Agreement, the Manager shall exercise reasonable care consistent with a fiduciary duty in fulfilling its responsibilities under Section 9(c)(i8(c)(i) of this Agreement. (iii) In the event of a claim, litigation, liability, or a regulatory action or investigation (collectively, a “Disclosure Claim”) that arises out of or is based upon the disclosure in a Disclosure Document for the Company (including, but not limited to, a claim arising from an untrue statement or alleged untrue statement in a registration statement for the Company or an omission or alleged omission of a material fact required to be stated therein or necessary to make statements made in a registration statement not misleading), the Manager shall indemnify and hold harmless the Company and each individual who, during the term of this Agreement, serves or had served as a Director of the Company who is not an “interested person” of the Company, as such term is defined in the 1940 Act (each, an “Independent Director”), if such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation or filing of the Company’s Disclosure Documents for the loss, costs, or damages, including amounts paid in settlement with the written consent of the Manager, which consent shall not be unreasonably withheld, and including reasonable legal and other expenses, that arise from such Disclosure Claim. (iv) In addition to the indemnification provided in Section 9(c)(iii8(c)(iii) of this Agreement, the Manager agrees to indemnify and hold harmless the Independent Directors for the costs of defense of a Disclosure Claim, including reasonable attorney’s fees, regardless of whether such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation of the Company’s Disclosure Documents, subject to the Manager’s right to assume the defense of such Disclosure Claim pursuant to Section 9(c)(ix8(c)(ix) of this Agreement. (v) The parties expressly acknowledge that this Section 9(c8(c) confers rights and remedies upon the Company and each Independent Director, including the right to enforce the indemnification provided for in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement. The obligation of the Manager to provide indemnification to the Company and the Independent Directors, as set forth in this Section 9(c8(c), shall remain in effect after the termination of this Agreement. (vi) The indemnification of the Company provided for in Section 9(c)(iii8(c)(iii) of this Agreement shall apply only to the extent that any loss to the Company is not covered by insurance held by the Company, and shall not apply if: (A) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; or (B) indemnification is not allowed under applicable law. (vii) The indemnification of an Independent Director provided in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement shall apply only to the extent that any loss to the Independent Director is not covered by insurance held by the Company or the Independent Director , and shall not apply if: (A) losses are actually indemnified by the Company, consistent with the Company’s organizational documents; (B) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; (C) losses are the result of willful misfeasance, bad faith, gross negligence or reckless disregard on the part of an Independent Director; or (D) indemnification is not allowed under applicable law. (viii) The Manager shall not be liable for indemnification of an Independent Director under this Section 9(c8(c) unless the Independent Director has notified the Manager in writing within a reasonable time after the summons or other first legal process giving information of the nature of the Disclosure Claim is served upon such Independent Director (or after such Independent Director shall have received notice of such service on any designated agent); provided, however, that notification of the Manager is not required if the Manager had actual knowledge about the nature of the Disclosure Claim. In the event of a request for indemnification from an Independent Director, the Manager shall pay advances to the fullest extent permissible under the 1940 Act and applicable state law. (ix) In the event of a request for indemnification from the Company or an Independent Director (“Indemnified Party”), the Manager shall be entitled, upon notice to the Indemnified Party, to assume the defense of any Disclosure Claim against the Indemnified Party, with counsel satisfactory to the Manager and the Indemnified Party. (x) Sections 9(a8(a) and 9(b8(b) shall not apply to a claim for indemnification under this Section 9(c8(c).

Company Disclosures. (i) The Manager shall be responsible for preparing the Company’s registration statements and supplements to the Company’s prospectuses and statements of additional information (“Disclosure Documents”), and for filing or arranging for the filing of such Disclosure Documents with the SEC and other federal and state regulatory authorities as may be required by applicable law. (ii) Notwithstanding anything in Section 9 8 or elsewhere in this Agreement, the Manager shall exercise reasonable care consistent with a fiduciary duty in fulfilling its responsibilities under Section 9(c)(i8(c)(i) of this Agreement. (iii) In the event of a claim, litigation, liability, or a regulatory action or investigation (collectively, a “Disclosure Claim”) that arises out of or is based upon the disclosure in a Disclosure Document for the Company (including, but not limited to, a claim arising from an untrue statement or alleged untrue statement in a registration statement for the Company or an omission or alleged omission of a material fact required to be stated therein or necessary to make statements made in a registration statement not misleading), the Manager shall indemnify and hold harmless the Company and each individual who, during the term of this Agreement, serves or had served as a Director of the Company who is not an “interested person” of the Company, as such term is defined in the 1940 Act (an “Independent Director”), if such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation or filing of the Company’s Disclosure Documents for the loss, costs, or damages, including amounts paid in settlement with the written consent of the Manager, which consent shall not be unreasonably withheld, and including reasonable legal and other expenses, that arise from such Disclosure Claim. (iv) In addition to the indemnification provided in Section 9(c)(iii8(c)(iii) of this Agreement, the Manager agrees to indemnify and hold harmless the Independent Directors for the costs of defense of a Disclosure Claim, including reasonable attorney’s fees, regardless of whether such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation of the Company’s Disclosure Documents, subject to the Manager’s right to assume the defense of such Disclosure Claim pursuant to Section 9(c)(ix8(c)(ix) of this Agreement. (v) The parties expressly acknowledge that this Section 9(c8(c) confers rights and remedies upon the Company and each Independent Director, including the right to enforce the indemnification provided for in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement. The obligation of the Manager to provide indemnification to the Company and the Independent Directors, as set forth in this Section 9(c8(c), shall remain in effect after the termination of this Agreement. (vi) The indemnification of the Company provided for in Section 9(c)(iii8(c)(iii) of this Agreement shall apply only to the extent that any loss to the Company is not covered by insurance held by the Company, and shall not apply if: (A) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; or (B) indemnification is not allowed under applicable law. (vii) The indemnification of an Independent Director provided in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement shall apply only to the extent that any loss to the Independent Director is not covered by insurance held by the Company or the Independent Director , and shall not apply if: (A) losses are actually indemnified by the Company, consistent with the Company’s organizational documents; (B) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; (C) losses are the result of willful misfeasance, bad faith, gross negligence or reckless disregard on the part of an Independent Director; or (D) indemnification is not allowed under applicable law. (viii) The Manager shall not be liable for indemnification of an Independent Director under this Section 9(c8(c) unless the Independent Director has notified the Manager in writing within a reasonable time after the summons or other first legal process giving information of the nature of the Disclosure Claim is served upon such Independent Director (or after such Independent Director shall have received notice of such service on any designated agent); provided, however, that notification of the Manager is not required if the Manager had actual knowledge about the nature of the Disclosure Claim. In the event of a request for indemnification from an Independent Director, the Manager shall pay advances to the fullest extent permissible under the 1940 Act and applicable state law. (ix) In the event of a request for indemnification from the Company or an Independent Director (“Indemnified Party”), the Manager shall be entitled, upon notice to the Indemnified Party, to assume the defense of any Disclosure Claim against the Indemnified Party, with counsel satisfactory to the Manager and the Indemnified Party. (x) Sections 9(a8(a) and 9(b8(b) shall not apply to a claim for indemnification under this Section 9(c8(c).

Company Disclosures. (i) The Manager shall be responsible for preparing the Company’s registration statements and supplements to the Company’s prospectuses and statements of additional information (“Disclosure Documents”), and for filing or arranging for the filing of such Disclosure Documents with the SEC and other federal and state regulatory authorities as may be required by applicable law. (ii) Notwithstanding anything in Section 9 8 or elsewhere in this Agreement, the Manager shall exercise reasonable care consistent with a fiduciary duty in fulfilling its responsibilities under Section 9(c)(i8(c)(i) of this Agreement. (iii) In the event of a claim, litigation, liability, or a regulatory action or investigation (collectively, a “Disclosure Claim”) that arises out of or is based upon the disclosure in a Disclosure Document for the Company (including, but not limited to, a claim arising from an untrue statement or alleged untrue statement in a registration statement for the Company or an omission or alleged omission of a material fact required to be stated therein or necessary to make statements made in a registration statement not misleading), the Manager shall indemnify and hold harmless the Company and each individual who, during the term of this Agreement, serves or had served as a Director of the Company who is not an “interested person” of the Company, as such term is defined in the 1940 Act (an “Independent Director”), if such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation or filing of the Company’s Disclosure Documents for the loss, costs, or damages, including amounts paid in settlement with the written consent of the Manager, which consent shall not be unreasonably withheld, and including reasonable legal and other expenses, that arise from such Disclosure Claim. (iv) In addition to the indemnification provided in Section 9(c)(iii8(c)(iii) of this Agreement, the Manager agrees to indemnify and hold harmless the Independent Directors for the costs of defense of a Disclosure Claim, including reasonable attorney’s fees, regardless of whether such Disclosure Claim arises from the Manager’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation of the Company’s Disclosure Documents, subject to the Manager’s right to assume the defense of such Disclosure Claim pursuant to Section 9(c)(ix8(c)(ix) of this Agreement. (v) The parties expressly acknowledge that this Section 9(c8(c) confers rights and remedies upon the Company and each Independent Director, including the right to enforce the indemnification provided for in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement. The obligation of the Manager to provide indemnification to the Company and the Independent Directors, as set forth in this Section 9(c8(c), shall remain in effect after the termination of this Agreement. (vi) The indemnification of the Company provided for in Section 9(c)(iii8(c)(iii) of this Agreement shall apply only to the extent that any loss to the Company is not covered by insurance held by the Company, and shall not apply if: (A) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; or (B) indemnification is not allowed under applicable law. (vii) The indemnification of an Independent Director provided in Sections 9(c)(iii8(c)(iii) and 9(c)(iv8(c)(iv) of this Agreement shall apply only to the extent that any loss to the Independent Director is not covered by insurance held by the Company or the Independent Director Director, and shall not apply if: (A) losses are actually indemnified by the Company, consistent with the Company’s organizational documents; (B) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; (C) losses are the result of willful misfeasance, bad faith, gross negligence or reckless disregard on the part of an Independent Director; or (D) indemnification is not allowed under applicable law. (viii) The Manager shall not be liable for indemnification of an Independent Director under this Section 9(c8(c) unless the Independent Director has notified the Manager in writing within a reasonable time after the summons or other first legal process giving information of the nature of the Disclosure Claim is served upon such Independent Director (or after such Independent Director shall have received notice of such service on any designated agent); provided, however, that notification of the Manager is not required if the Manager had actual knowledge about the nature of the Disclosure Claim. In the event of a request for indemnification from an Independent Director, the Manager shall pay advances to the fullest extent permissible under the 1940 Act and applicable state law. (ix) In the event of a request for indemnification from the Company or an Independent Director (“Indemnified Party”), the Manager shall be entitled, upon notice to the Indemnified Party, to assume the defense of any Disclosure Claim against the Indemnified Party, with counsel satisfactory to the Manager and the Indemnified Party. (x) Sections 9(aSection 8(a) and 9(b8(b) shall not apply to a claim for indemnification under this Section 9(c8(c).

Company Disclosures. (i) A. The Manager Administrator shall be responsible for preparing the Company’s registration statements and supplements to the Company’s prospectuses and statements of additional information (“Disclosure Documents”), and for filing or arranging for the filing of such Disclosure Documents with the SEC and other federal and state regulatory authorities as may be required by applicable law. (ii) B. Notwithstanding anything in Section 9 XIV or elsewhere in this Agreement, the Manager Administrator shall exercise reasonable care consistent with a fiduciary duty in fulfilling its responsibilities under Section 9(c)(iIII(A) of this Agreement. (iii) C. In the event of a claim, litigation, liability, or a regulatory action or investigation (collectively, a “Disclosure Claim”) that arises out of or is based upon the disclosure in a Disclosure Document for the Company (including, but not limited to, a claim arising from an untrue statement or alleged untrue statement in a registration statement for the Company or an omission or alleged omission of a material fact required to be stated therein or necessary to make statements made in a registration statement not misleading), the Manager Administrator shall indemnify and hold harmless the Company and each individual who, during the term of this Agreement, serves or had served as a Director of the Company who is not an “interested person” of the Company, as such term is defined in the 1940 Act (an “Independent Director”), if such Disclosure Claim arises from the ManagerAdministrator’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation or filing of the Company’s Disclosure Documents for the loss, costs, or damages, including amounts paid in settlement with the written consent of the ManagerAdministrator, which consent shall not be unreasonably withheld, and including reasonable legal and other expenses, that arise from such Disclosure Claim. (iv) D. In addition to the indemnification provided in Section 9(c)(iiiIII(C) of this Agreement, the Manager Administrator agrees to indemnify and hold harmless the Independent Directors for the costs of defense of a Disclosure Claim, including reasonable attorney’s fees, regardless of whether such Disclosure Claim arises from the ManagerAdministrator’s failure or alleged failure to exercise reasonable care consistent with a fiduciary duty in the preparation of the Company’s Disclosure Documents, subject to the ManagerAdministrator’s right to assume the defense of such Disclosure Claim pursuant to Section 9(c)(ixIII(J) of this Agreement. (v) E. The parties expressly acknowledge that this Section 9(c) III confers rights and remedies upon the Company and each Independent Director, including the right to enforce the indemnification provided for in Sections 9(c)(iiiIII(C) and 9(c)(ivIII(D) of this Agreement. The obligation of the Manager Administrator to provide indemnification to the Company and the Independent Directors, as set forth in this Section 9(c)III, shall remain in effect after the termination of this Agreement. (vi) F. The indemnification of the Company provided for in Section 9(c)(iiiIII(C) of this Agreement shall apply only to the extent that any loss to the Company is not covered by insurance held by the Company, and shall not apply if: (Ai) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; or (Bii) indemnification is not allowed under applicable law. (vii) G. The indemnification of an Independent Director provided in Sections 9(c)(iiiIII(C) and 9(c)(ivIII(D) of this Agreement shall apply only to the extent that any loss to the Independent Director is not covered by insurance held by the Company or the Independent Director Director, and shall not apply if: (Ai) losses are actually indemnified by the Company, consistent with the Company’s organizational documents; (Bii) the disclosure giving rise to the Disclosure Claim was provided by or on behalf of an Independent Director for inclusion in the Company’s Disclosure Documents; (Ciii) losses are the result of willful misfeasance, bad faith, gross negligence or reckless disregard on the part of an Independent Director; or (Div) indemnification is not allowed under applicable law. (viii) H. The Manager Administrator shall not be liable for indemnification of an Independent Director under this Section 9(c) III unless the Independent Director has notified the Manager Administrator in writing within a reasonable time after the summons or other first legal process giving information of the nature of the Disclosure Claim is served upon such Independent Director (or after such Independent Director shall have received notice of such service on any designated agent); provided, however, that notification of the Manager Administrator is not required if the Manager Administrator had actual knowledge about the nature of the Disclosure Claim. In the event of a request for indemnification from an Independent Director, the Manager Administrator shall pay advances to the fullest extent permissible under the 1940 Act and applicable state law. (ix) I. In the event of a request for indemnification from the Company or an Independent Director (“Indemnified Party”), the Manager Administrator shall be entitled, upon notice to the Indemnified Party, to assume the defense of any Disclosure Claim against the Indemnified Party, with counsel satisfactory to the Manager Administrator and the Indemnified Party. (x) Sections 9(a) and 9(b) shall not apply to a claim for indemnification under this Section 9(c).