Common use of Subsequent Commitments Clause in Contracts

Subsequent Commitments. The Company may, in its sole discretion, permit one or more investors to make additional Capital Commitments (“Subsequent Commitments”) after accepting an initial Capital Commitment from such Subscriber. New investors that make a Subsequent Commitment, or existing Stockholders that increase their Capital Commitment prior to the time at which the Company’s share repurchase program commences (each, an “Additional Stockholder”) will be required to make subsequent purchases of Shares (each, a “Catch-up Purchase”) on a date (or dates) (each such date, the “Catch-up Date”) to be determined by the Company. The aggregate amount of the Catch-up Purchase (the “Catch-up Purchase Amount”) will be equal to an amount necessary to ensure that, upon payment of the Catch-up Purchase Amount, such Additional Stockholder will have contributed the same percentage of its Capital Commitment to the Company as all Stockholders whose subscriptions were previously accepted. Catch-up Purchases will be made at a per share price equal to the net asset value per Share as of the close of the last calendar quarter preceding the date of the Catch-up Purchase, subject to adjustments as set forth below and further adjusted to appropriately reflect such Additional Stockholder’s pro rata portion of the Company’s initial organizational expenses, if applicable.

Subsequent Commitments. The Company may, in its sole discretion, permit one or more investors to make additional Capital Commitments (“Subsequent Commitments”) after accepting an initial Capital Commitment from such Subscriber. New investors that make a Subsequent Commitment, or existing Stockholders that increase their Capital Commitment prior to the time at which the Company’s share repurchase program commences (each, an “Additional Stockholder”) will be required to make subsequent purchases of Shares (each, a “Catch-up Purchase”) on a date (or dates) (each such date, the “Catch-up Date”) to be determined by the Company. The aggregate amount of the Catch-up Purchase (the “Catch-up Purchase Amount”) will be equal to an amount necessary to ensure that, upon payment of the Catch-up Purchase Amount, such Additional Stockholder will have contributed the same percentage of its Capital Commitment to the Company as all Stockholders whose subscriptions were previously accepted. Catch-up Purchases will be made at a per share price equal to the net asset value per Share as of the close of the last calendar quarter preceding the date of the Catch-Catch- up Purchase, subject to adjustments as set forth below and further adjusted to appropriately reflect such Additional Stockholder’s pro rata portion of the Company’s initial organizational expenses, if applicable.