BDC Facts & Stats | 19 
Managerial 
Services 
Compensation/Allocation of Costs and  
Expenses 
Indemnification 
Delegation 
Allowed 
Yes 
Reimbursement for costs and expenses 
incurred in performing obligations and 
providing personnel and facilities. 
Yes (except for 
willful 
misfeasance, 
bad faith, gross 
negligence, or 
reckless 
disregard of 
duties or 
obligations). 
Yes 
No 
Reimbursement for costs and expenses 
incurred in performing obligations and 
providing personnel and facilities, including 
for outsourcing. 
Yes (except for 
willful 
misfeasance, 
bad faith, gross 
negligence, or 
reckless 
disregard of 
duties or 
obligations). 
Yes 
g 
d 
al 
Yes 
Reimbursement for costs and expenses 
incurred in performing obligations and 
providing personnel and facilities, which 
include, but are not limited to, amount 
based upon allocable portion (subject to 
review by BDC’s board of directors) of 
overhead in performing obligations, 
including rent, fees, and expenses 
associated with performing compliance 
functions, and allocable portion of cost of 
CFO, CCO, and their respective staffs, and 
additional amounts based on managerial 
services provided to portfolio companies, if 
any, which shall not exceed amounts 
received from such portfolio companies for 
providing such managerial services, 
including for outsourcing. 
Yes (except for 
criminal 
conduct, willful 
misfeasance, 
bad faith, gross 
negligence, or 
reckless 
disregard of 
duties or 
obligations). 
Yes 

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