Common use of Incentive Fee Clause in Contracts

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to a quarterly hurdle rate expressed as a rate of return on the value of the Company’s net assets at the end of the most recently completed calendar quarter, of 1.75% (7.0% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Feepart, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a quarterly hurdle rate preferred return to investors each quarter, expressed as a quarterly rate of return on the value of the Company’s net assets Adjusted Capital (as defined below) at the end beginning of the most recently completed calendar quarter, of 1.752.0% (7.08.0% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Feepart, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a quarterly hurdle rate preferred return to investors each quarter, expressed as a quarterly rate of return on the value of the Company’s net assets at the end of average Adjusted Capital (as defined below) for the most recently completed calendar quarter, of 1.751.875% (7.07.5% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Feepart, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarterquarter (or upon termination of the Agreement, as of the termination date). The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a quarterly hurdle rate preferred return to investors each quarter, expressed as a rate of return on the value of the Company’s net assets at the end of the most recently completed calendar quarter, of 1.75% (7.0% annualized) (the “Hurdle Rate”)1.50%, subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Feepart, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a quarterly hurdle rate preferred return to investors each quarter, expressed as a quarterly rate of return on the value of the Company’s net assets at the end of average Adjusted Capital (as defined below) for the most recently completed calendar quarter, of 1.75% (7.0% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Fee, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the CompanyCorporation’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to a quarterly hurdle rate rate, expressed as a rate of return on the value of the Company’s net assets at the end of average Adjusted Capital (as defined below) for the most recently completed calendar quarter, of 1.75% (7.0% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Feepart, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a quarterly hurdle rate preferred return to investors each quarter, expressed as a rate of return on the value of the Company’s net assets at the end of the most recently completed calendar quarter, of 1.752.00% (7.08.00% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).

Incentive Fee. The Incentive Fee shall consist of two parts, as follows: (i) The first part of the Incentive Feepart, referred to as the “Subordinated Incentive Fee on Income,” shall be calculated and payable quarterly in arrears based on the Company’s “Pre-Incentive Fee Net Investment Income” for the immediately preceding quarter. The payment of the Subordinated Incentive Fee on Income shall be subject to payment of a quarterly hurdle rate preferred return to investors each quarter, expressed as a rate of return on the value of the Company’s net assets at the end of the most recently completed calendar quarter, of 1.751.875% (7.07.50% annualized) (the “Hurdle Rate”), subject to a “catch up” feature (as described below).