DESCRIPTION OF SECURITIESLimited Liability Company Agreement • March 9th, 2021 • New Mountain Guardian III BDC, L.L.C.
The following description is based on relevant portions of the Delaware Limited Liability Company Act and on our Limited Liability Company Agreement. This summary is not necessarily complete, and we refer you to the Limited Liability Company Agreement, as amended and restated on January 15, 2021 (the "Second A&R LLC Agreement") for a more detailed description of the provisions summarized below.
