Highland Floating Rate Limited Liability Company: Exhibit 77Q1 FORM OF NEW PORTFOLIO ADVISORY AGREEMENT INVESTMENT ADVISORY AGREEMENT made as of August 21, 2007, by and between Highland Capital Management, L.P., a Delaware limited partnership (the...Highland Floating Rate LTD Liability Co • October 29th, 2007 • Delaware
INVESTMENT ADVISORY AGREEMENT made as of August 21, 2007, by and between Highland Capital Management, L.P., a Delaware limited partnership (the "Manager"), and Highland Floating Rate Limited Liability Company, a Delaware limited liability company (the "LLC"). WHEREAS, the LLC is engaged in business as a closed-end management investment company and is registered as such under the Investment Company Act of 1940 (the "1940 Act"), and periodically offers to repurchase its shares in conformity with the provisions of Rule 23c-3 under the 1940 Act, which funds are generally referred to as "interval funds"; and WHEREAS the Manager is engaged principally in the business of rendering investment management services and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended; NOW, THEREFORE, WITNESSETH: That it is hereby agreed between the parties hereto as follows: SECTION 1. Appointment of Manager. The LLC hereby appoints the Manager to act as manager and inv
