Common Contracts

MEMORANDUM OF UNDERSTANDING

Memorandum of Understanding • July 30th, 2015 • Delaware

• Contract Type
  Memorandum of Understanding
• Filed
  July 30th, 2015
• Jurisdiction
  Delaware

This Memorandum of Understanding (“Memorandum”) is entered into as of July 30, 2015, by and among plaintiffs David Ormsby, Ruth Thomas, Casey Boyer, Jeremy Means, Nicholas Ronald Ledonne, and Harold Ginsberg (collectively “Plaintiffs”) and Keith Kennedy, Richard W. Neu, Kenneth J. O’Keefe, Kim D. Kelly, Gavin Saitowitz (collectively, the “Individual Defendants”), MCG Capital Corporation (“MCGC” or the “Company”), PennantPark Floating Rate Capital, Ltd. (“PennantPark”), PFLT Panama, LLC (“Merger Sub One”), PFLT Funding II, LLC (“Merger Sub Two”), and PennantPark Investment Advisers, LLC (“Investment Adviser”) (collectively, and including the Individual Defendants, “Defendants,” and each a “Defendant”). Plaintiffs and Defendants are collectively referred to herein as the “Parties.” The Parties are parties to a putative consolidated class action lawsuit currently pending in the Court of Chancery of the State of Delaware (the “Court”) captioned In re MCG Capital Corp. Stockholder Litigatio