CREDIT AGREEMENT DATED AS OF OCTOBER 4, 2023 BETWEEN ALTERNATIVE CREDIT INCOME FUND AND U.S. BANK NATIONAL ASSOCIATIONCredit Agreement • January 26th, 2024 • Alternative Credit Income Fund • New York
This Credit Agreement, dated as of October 4, 2023, is between Alternative Credit Income Fund, a Delaware statutory trust registered as a closed-end management investment company operating as an interval fund under the Investment Company Act (the “Borrower”), and U.S. Bank National Association, a national banking association (the “Lender”). The parties hereto agree as follows:
Expense Limitation AgreementLimitation Agreement • January 26th, 2024 • Alternative Credit Income Fund
Effective as of the date hereof, we agree, at least until January 31, 2025 (the “Limitation Period”) to waive our management fees (excluding any incentive fee) and to pay or absorb the ordinary annual operating expenses of the Fund (excluding incentive fees, interest on borrowings, dividends, amortization/accretion and interest on securities sold short, brokerage commissions, acquired fund fees and expenses and extraordinary expenses), to the extent that our management fees plus the Fund’s ordinary annual operating expenses exceed 2.59%, 3.34%, 2.59%, 2.34% and 2.84% per annum of the Fund's average daily net assets attributable to Class A, Class C, Class W, Class I and Class L shares, respectively.
