Common use of EXPENSE SUPPORT PAYMENTS Clause in Contracts

EXPENSE SUPPORT PAYMENTS. During the period beginning on the date on which the Company has satisfied the “minimum offering requirement” (as such term is defined in the Company’s Registration Statement) and ending on [Month __, 201_] (the “Expense Support Payment Period”), the Advisor and the Sub-Advisor each hereby agrees to reimburse expenses of the Company as follows, the lessor of, (i)[50%] of all Operating Expenses (as defined below) for each month during the Expense Support Payment Period in which the Company’s board of trustees (the “Trustees”) declares a Distribution (as defined below) and (ii) an amount equal to [50%] of the positive difference between the Company’s cumulative Distributions paid to the Company’s shareholders in each month less Available Operating Funds (as defined below) recognized by the Company on account of its investment portfolio provided, that each Advisor hereby agrees and confirms that, it shall be jointly and severally liable to the Company for the share of Operating Expenses payable by the other Advisor to the extent the other Advisor fails to make such payment. Any payment made by an Advisor pursuant to the preceding sentence shall be referred to herein as an “Expense Support Payment.” The Advisors’ obligation to make Expense Support Payments for any month during the Expense Support Payment Period during such month shall automatically become a joint and several liability of the Advisors and the right to such Expense Support Payment shall be an asset of the Company immediately upon the Trustee’s declaration of a Distribution. The Expense Support Payment for any month shall be paid by the Advisors to the Company in any combination of cash or other immediately available funds, and/or offsets against amounts due from the Company to the Advisors, no later than five business days after the end of such month.

EXPENSE SUPPORT PAYMENTS. During the period beginning on at the date on which time that the Company has satisfied the “minimum offering requirement” (as such term is defined in the Company’s Registration Statement) and ending on [Month __June 30, 201_] 2012 (the “Expense Support Payment Period”), the Advisor and the Sub-Advisor each hereby agrees to reimburse expenses of pay to the Company as followsCompany, the lessor of, (i)[50%] of all Operating Expenses (as defined below) for each month during the Expense Support Payment Period in which the Company’s board of trustees directors (the “TrusteesBoard”) declares a Distribution (as defined below) and (i) 50% of all Operating Expenses (as defined herein) until December 31, 2011, (ii) an amount equal to [50%] 32.5% of all Operating Expenses between and including January 1, 2012 and March 31, 2012, and (iii) 12.5% of all Operating Expenses between and including April 1, 2012 and the end of the positive difference between the Company’s cumulative Distributions paid to the Company’s shareholders in each month less Available Operating Funds (as defined below) recognized by the Company on account of its investment portfolio Expense Support Payment Period; provided, that each Advisor hereby agrees and confirms that, it shall be jointly and severally liable to the Company for the share of Operating Expenses payable by the other Advisor to the extent the other Advisor fails to make such payment. Any payment made by an Advisor pursuant to the preceding sentence shall be referred to herein as an “Expense Support Payment.” The Company acknowledges and agrees that it has received from the Advisors all Expense Support Payments required to have been made by the Advisors through the date hereof (the “Prior Expense Support Payments”). The Advisors’ obligation to make Expense Support Payments for any month during the Expense Support Payment Period in an aggregate amount equal to all Operating Expenses during such month shall automatically become a joint and several liability of the Advisors and the right to such Expense Support Payment shall be an asset of the Company immediately upon the TrusteeBoard’s declaration of a Distribution. The Expense Support Payment for any month shall be paid by the Advisors to the Company in any combination of cash or other immediately available funds, and/or offsets against amounts due from the Company to the Advisors, no later than five business days after the end of such month.

EXPENSE SUPPORT PAYMENTS. During the period beginning on the date on which the Company has satisfied the “minimum offering requirement” (as such term is defined in the Company’s Registration Statement) and ending on [Month __December 31, 201_] 2018 (the “Expense Support Payment Period”), the Advisor and the Sub-Advisor each hereby agrees to reimburse pay the expenses of the Company on a monthly basis as follows, : the lessor lesser of, (i)[50%] i) the amount equal to 50% of all Operating Expenses (as defined below) for each month during the Expense Support Payment Period in which the Company’s board of trustees (the “Trustees”) declares a Distribution (as defined below) and or (ii) an the amount equal to [50%] % of the positive difference between the Company’s cumulative Distributions paid accrued to the Company’s shareholders in each month less monthly Available Operating Funds (as defined below) recognized by the Company on account of its investment portfolio provided, that each Advisor hereby agrees and confirms that, it shall be jointly and severally liable to the Company for the share of Operating Expenses payable by the other Advisor to the extent the other Advisor fails to make such payment. In the event that Available Operating Funds are negative for a particular month the Advisor and Sub-Advisor will pay expenses as outlined in (i) above. Any payment made by an Advisor pursuant to the preceding sentence shall be referred to herein as an “Expense Support Payment.” The Advisors’ obligation to make Expense Support Payments for any month during the Expense Support Payment Period during such month shall automatically become a joint and several liability of the Advisors and the right to such Expense Support Payment shall be an asset of the Company immediately upon the Trustee’s declaration of a Distribution. The Expense Support Payment for any month shall be paid by the Advisors to the Company in any combination of cash or other immediately available funds, and/or offsets against amounts due from the Company to the Advisors, no later than five business days after the end of such month.

EXPENSE SUPPORT PAYMENTS. During the period beginning on the date on which the Company has satisfied the “minimum offering requirement” (as such term is defined in the Company’s Registration Statement) and ending on [Month __December 31, 201_] 2017 (the “Expense Support Payment Period”), the Advisor and the Sub-Advisor each hereby agrees to reimburse pay the expenses of the Company on a monthly basis as follows, : the lessor lesser of, (i)[50%] i) the amount equal to 50% of all Operating Expenses (as defined below) for each month during the Expense Support Payment Period in which the Company’s board of trustees (the “Trustees”) declares a Distribution (as defined below) and or (ii) an the amount equal to [50%] % of the positive difference between the Company’s cumulative Distributions paid accrued to the Company’s shareholders in each month less monthly Available Operating Funds (as defined below) recognized by the Company on account of its investment portfolio provided, that each Advisor hereby agrees and confirms that, it shall be jointly and severally liable to the Company for the share of Operating Expenses payable by the other Advisor to the extent the other Advisor fails to make such payment. In the event that Available Operating Funds are negative for a particular month the Advisor and Sub-Advisor will pay expenses as outlined in (i) above. Any payment made by an Advisor pursuant to the preceding sentence shall be referred to herein as an “Expense Support Payment.” The Advisors’ obligation to make Expense Support Payments for any month during the Expense Support Payment Period during such month shall automatically become a joint and several liability of the Advisors and the right to such Expense Support Payment shall be an asset of the Company immediately upon the Trustee’s declaration of a Distribution. The Expense Support Payment for any month shall be paid by the Advisors to the Company in any combination of cash or other immediately available funds, and/or offsets against amounts due from the Company to the Advisors, no later than five business days after the end of such month.

EXPENSE SUPPORT PAYMENTS. During the period beginning on the date on which the Company has satisfied the “minimum offering requirement” (as such term is defined in the Company’s Registration Statement) and ending on [Month __June 30, 201_] 2017 (the “Expense Support Payment Period”), the Advisor and the Sub-Advisor each hereby agrees to reimburse pay expenses of the Company as followsfollows on a monthly basis, the lessor lesser of, (i)[50%] i) 50% of all Operating Expenses (as defined below) for each month during the Expense Support Payment Period in which the Company’s board of trustees (the “Trustees”) declares a Distribution (as defined below) and (ii) an amount equal to [50%] % of the positive difference between the Company’s cumulative Distributions paid accrued to the Company’s shareholders in each month less monthly Available Operating Funds (as defined below) recognized by the Company on account of its investment portfolio provided, that each Advisor hereby agrees and confirms that, it shall be jointly and severally liable to the Company for the share of Operating Expenses payable by the other Advisor to the extent the other Advisor fails to make such payment. In the event that Available Operating Funds are negative for a particular month the Advisor and Sub-Advisor will pay expenses as outlined in (i) above. Any payment made by an Advisor pursuant to the preceding sentence shall be referred to herein as an “Expense Support Payment.” The Advisors’ obligation to make Expense Support Payments for any month during the Expense Support Payment Period during such month shall automatically become a joint and several liability of the Advisors and the right to such Expense Support Payment shall be an asset of the Company immediately upon the Trustee’s declaration of a Distribution. The Expense Support Payment for any month shall be paid by the Advisors to the Company in any combination of cash or other immediately available funds, and/or offsets against amounts due from the Company to the Advisors, no later than five business days after the end of such month.

EXPENSE SUPPORT PAYMENTS. During the period beginning on the date on which the Company has satisfied the “minimum offering requirement” (as such term is defined in the Company’s Registration Statement) and ending on [Month __September 30, 201_] 2017 (the “Expense Support Payment Period”), the Advisor and the Sub-Advisor each hereby agrees to reimburse pay the expenses of the Company on a monthly basis as follows, : the lessor lesser of, (i)[50%] i) the amount equal to 50% of all Operating Expenses (as defined below) for each month during the Expense Support Payment Period in which the Company’s board of trustees (the “Trustees”) declares a Distribution (as defined below) and or (ii) an the amount equal to [50%] % of the positive difference between the Company’s cumulative Distributions paid accrued to the Company’s shareholders in each month less monthly Available Operating Funds (as defined below) recognized by the Company on account of its investment portfolio provided, that each Advisor hereby agrees and confirms that, it shall be jointly and severally liable to the Company for the share of Operating Expenses payable by the other Advisor to the extent the other Advisor fails to make such payment. In the event that Available Operating Funds are negative for a particular month the Advisor and Sub-Advisor will pay expenses as outlined in (i) above. Any payment made by an Advisor pursuant to the preceding sentence shall be referred to herein as an “Expense Support Payment.” The Advisors’ obligation to make Expense Support Payments for any month during the Expense Support Payment Period during such month shall automatically become a joint and several liability of the Advisors and the right to such Expense Support Payment shall be an asset of the Company immediately upon the Trustee’s declaration of a Distribution. The Expense Support Payment for any month shall be paid by the Advisors to the Company in any combination of cash or other immediately available funds, and/or offsets against amounts due from the Company to the Advisors, no later than five business days after the end of such month.