BDC Facts & Stats | 13 
Managerial 
Services 
Compensation/Allocation of Costs and  
Expenses 
Indemnification 
Delegation 
Allowed 
Yes 
Reimbursement for all costs and expenses 
of investment operations and investment 
transactions, organization, operations and 
administration. 
Yes (except for 
fraud, willful 
misfeasance, 
bad faith or 
gross 
negligence in 
the 
performance of 
the Adviser’s 
duties or by 
reason of the 
reckless 
disregard of the 
Adviser’s duties 
and 
obligations). 
No 
e 
Yes 
The Company, either directly or through 
reimbursement to the Adviser, shall bear all 
costs and expenses of its investment 
operations and its investment transactions, 
including costs and expenses relating to:  
the Company’s initial organization costs and 
operating costs incurred prior to the filing of 
its election to be treated as a BDC; the costs 
associated with any offerings of the 
Company’s securities; calculating individual 
asset values and the Company’s net asset 
value (including the cost and expenses of 
any third-party valuation services); out-of-
pocket expenses, including travel expenses, 
incurred by the Adviser, or members of its 
investment team, or payable to third 
parties, performing due diligence on 
prospective portfolio companies and, if 
necessary, enforcing the Company’s rights. 
Yes (except for 
willful 
misfeasance, 
bad faith or 
gross 
negligence in 
the 
performance of 
the Adviser’s 
duties or by 
reason of the 
reckless 
disregard of the 
Adviser’s duties 
and 
obligations). 
No 

View this content as a flipbook by clicking here.