Common use of Notice to Banks Clause in Contracts

Notice to Banks. Funding of Loans 18 SECTION 2.04. Loan Accounts; Notes; Records 19 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 SECTION 2.06. Interest Rates 21 SECTION 2.07. Fees 22 SECTION 2.08. Termination and Reduction of Commitments 22 SECTION 2.09. Extension of Termination Date 23 SECTION 2.10. General Provisions as to Payments 24 SECTION 2.11. Computation of Interest and Fees 26 SECTION 2.12. Withholding Tax Exemption 26 SECTION 2.13. Payment of Other Taxes by the Borrower 28 ARTICLE III. CONDITIONS 28 SECTION 3.01. Effectiveness 28 SECTION 3.02. All Borrowings 29 SECTION 3.03. Security 30 ARTICLE IV. REPRESENTATIONS AND WARRANTIES 30 SECTION 4.01. Existence and Power; Investment Company 30 SECTION 4.02. Authorization; Execution and Delivery, Etc. 30 SECTION 4.03. Noncontravention 30 SECTION 4.04. Governmental Authorizations; Private Authorization 31 SECTION 4.05. Regulations T, U and X 31 SECTION 4.06. Non-Affiliation with Banks 31 SECTION 4.07. Subsidiaries 31 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page SECTION 4.09. Litigation 32 SECTION 4.10. ERISA 32 SECTION 4.11. Taxes 32 SECTION 4.12. Compliance 32 SECTION 4.13. Fiscal Year 32 SECTION 4.14. Full Disclosure 33 SECTION 4.15. Account 33 SECTION 4.16. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 ARTICLE V. COVENANTS 33 SECTION 5.01. Information 33 SECTION 5.02. Payment of Obligations 34 SECTION 5.03. Maintenance of Insurance 35 SECTION 5.04. Conduct of Business and Maintenance of Existence 35 SECTION 5.05. Compliance with Laws 35 SECTION 5.06. Inspection of Property, Books and Records 36 SECTION 5.07. Debt 36 SECTION 5.08. Liens 36 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 SECTION 5.10. Use of Proceeds 37 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 SECTION 5.12. Non-Affiliation with Banks 37 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] 37 SECTION 5.15. ERISA 38 SECTION 5.16. Fiscal Year 38 SECTION 5.17. Regulation U 38 SECTION 5.18. Custodian 38 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 ARTICLE VI. DEFAULTS 39 SECTION 6.01. Events of Default 39 SECTION 6.02. Remedies 41 ARTICLE VII. THE AGENT 41 SECTION 7.01. Appointment and Authorization 41 SECTION 7.02. Action by Agent 41 SECTION 7.03. Consultation with Experts 41 SECTION 7.04. Liability of Agent 41 SECTION 7.05. Indemnification 42 SECTION 7.06. Credit Decision 42 SECTION 7.07. Successor Agent 42 SECTION 7.08. Agent as Bank 43 SECTION 7.09. Distribution by Agent 43 SECTION 7.10. Delinquent Banks 43 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 SECTION 8.03. Illegality 46 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 SECTION 8.05. Replacement Banks 47 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 ARTICLE IX. MISCELLANEOUS 47 SECTION 9.01. Notices 47 SECTION 9.02. No Waivers 48 TABLE OF CONTENTS (continued) Page SECTION 9.03. Expenses; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 SECTION 9.08. WAIVER OF JURY TRIAL 52 SECTION 9.09. Confidential Information 52 SECTION 9.10. USA Patriot Act 53 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:

Notice to Banks. Funding of Loans 18 20 SECTION 2.04. Loan Accounts; Notes; Records 19 21 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 22 SECTION 2.06. Interest Rates 21 23 SECTION 2.07. Fees 22 24 SECTION 2.08. Termination and Reduction of Commitments 22 24 SECTION 2.09. Extension of Termination Date 23 Pricing Changes 25 SECTION 2.10. General Provisions as to Payments 24 25 SECTION 2.11. Computation of Interest and Fees 26 27 SECTION 2.12. Withholding Tax Exemption 26 SECTION 2.13. Payment of Other Taxes by the Borrower 28 27 ARTICLE III. CONDITIONS 28 29 SECTION 3.01. Effectiveness 28 29 SECTION 3.02. All Borrowings 29 30 SECTION 3.03. Security 30 31 ARTICLE IV. REPRESENTATIONS AND WARRANTIES 30 31 SECTION 4.01. Existence and Power; Investment Company 30 31 SECTION 4.02. Authorization; Execution and Delivery, Etc. 30 31 SECTION 4.03. Noncontravention 30 32 SECTION 4.04. Governmental Authorizations; Private Authorization 31 32 SECTION 4.05. Regulations T, U and X 31 32 SECTION 4.06. Non-Affiliation with Banks 31 32 SECTION 4.07. Subsidiaries 31 32 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page 32 SECTION 4.09. Litigation 32 33 SECTION 4.10. ERISA 32 33 SECTION 4.11. Taxes 32 33 SECTION 4.12. Compliance 32 33 SECTION 4.13. Fiscal Year 32 34 SECTION 4.14. Full Disclosure 33 34 SECTION 4.15. Account 33 [Reserved] 34 SECTION 4.16. Sanctions, Etc. 33 Account 34 SECTION 4.17. OFAC, USA PATRIOT Act, Anti-Corruption and Other Regulations 34 SECTION 4.18. Title to Assets 33 35 TABLE OF CONTENTS (Continued) Page ARTICLE V. COVENANTS 33 35 SECTION 5.01. Information 33 35 SECTION 5.02. Payment of Obligations 34 36 SECTION 5.03. Maintenance of Insurance 35 36 SECTION 5.04. Conduct of Business and Maintenance of Existence 35 36 SECTION 5.05. Compliance with Laws 35 37 SECTION 5.06. Inspection of Property, Books and Records 36 37 SECTION 5.07. Debt 36 and other Senior Obligations 38 SECTION 5.08. Liens 36 38 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 38 SECTION 5.10. Use of Proceeds 37 38 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 39 SECTION 5.12. Non-Affiliation with Banks 37 39 SECTION 5.13. Regulated Investment Company 37 39 SECTION 5.14. [reserved] 37 No Subsidiary 39 SECTION 5.15. ERISA 38 39 SECTION 5.16. Fiscal Year 38 39 SECTION 5.17. Regulation U 38 39 SECTION 5.18. Custodian 38 39 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page 39 SECTION 5.20. Maximum Amount 38 39 SECTION 5.21. Negative Pledge 38 40 SECTION 5.22. Further Assurances 38 Restricted Payments 40 SECTION 5.23. SanctionsCompliance with Anti-Terrorism Laws, Etc 38 Money Laundering Laws, Etc. 40 SECTION 5.24. Further Assurances 40 ARTICLE VI. DEFAULTS 39 40 SECTION 6.01. Events of Default 39 40 SECTION 6.02. Remedies 41 42 ARTICLE VII. THE AGENT 41 43 SECTION 7.01. Appointment and Authorization 41 43 SECTION 7.02. Action by Agent 41 43 SECTION 7.03. Consultation with Experts 41 43 SECTION 7.04. Liability of Agent 41 43 SECTION 7.05. Indemnification 42 44 SECTION 7.06. Credit Decision 42 44 SECTION 7.07. Successor Agent 42 44 SECTION 7.08. Agent as Bank 43 44 SECTION 7.09. Distribution by Agent 43 44 SECTION 7.10. Delinquent Banks 43 45 TABLE OF CONTENTS (Continued) Page ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 46 SECTION 8.01. Additional Costs; Capital Adequacy 44 46 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 47 SECTION 8.03. Illegality 46 48 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 48 SECTION 8.05. Replacement Banks 47 49 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 49 ARTICLE IX. MISCELLANEOUS 47 49 SECTION 9.01. Notices 47 49 SECTION 9.02. No Waivers 48 TABLE OF CONTENTS (continued) Page 49 SECTION 9.03. Expenses; Documentary Taxes; Indemnification 48 50 SECTION 9.04. Setoff 48 50 SECTION 9.05. Amendments and Waivers 49 51 SECTION 9.06. Successors and Assigns 49 51 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 53 SECTION 9.08. WAIVER OF JURY TRIAL 52 54 SECTION 9.09. Confidential Information 52 Material 54 SECTION 9.10. USA Patriot Act 53 54 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages 55 SECTION 9.12. Interest Rate Limitation 55 SECTION 9.13. Survival 55 SECTION 9.14. Limitation on Liability 55 Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Termination Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Assignment and Acceptance Exhibit F - Form of Assignment and Acceptance Applicable Margin Change Notice Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT Commitment Fee Change Notice Exhibit H - Form of Notice of Conversion Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages CREDIT AGREEMENT, dated as of January 6June , 20152014, by and among NEXPOINT CAPITAL, INC.WESTERN ASSET PREMIER BOND FUND, a Delaware corporation Massachusetts business trust that is registered under the Investment Company Act of 1940, as amended, as a closed-end management investment company (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:

Notice to Banks. Funding of Loans 18 15 SECTION 2.04. Loan Accounts; Notes; Records 19 Notes 16 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 Maturity of Loans 16 SECTION 2.06. Interest Rates 21 16 SECTION 2.07. Fees 22 17 SECTION 2.08. Optional Termination or Reduction of Commitments 17 SECTION 2.09. Scheduled Termination or Reduction of Commitments 18 SECTION 2.10. Optional Prepayments 18 SECTION 2.11. Mandatory Prepayments and Reduction of Commitments 22 18 SECTION 2.09. Extension of Termination Date 23 SECTION 2.102.12. General Provisions as to Payments 24 19 SECTION 2.112.13. Funding Losses 20 SECTION 2.14. Computation of Interest and Fees 26 SECTION 2.12. Withholding Tax Exemption 26 SECTION 2.13. Payment of Other Taxes by the Borrower 28 20 ARTICLE III. CONDITIONS 28 3 Conditions SECTION 3.01. Effectiveness 28 20 SECTION 3.02. All Borrowings 29 SECTION 3.03. Security 30 21 ARTICLE IV. REPRESENTATIONS AND WARRANTIES 30 4 Representations and Warranties SECTION 4.01. Existence and PowerOrganization; Investment Company 30 Powers 21 SECTION 4.02. Authorization; Execution and Delivery, Etc. 30 Enforceability 21 SECTION 4.03. Noncontravention 30 Governmental Approvals; No Conflicts 22 SECTION 4.04. Governmental AuthorizationsFinancial Statements; Private Authorization 31 No Material Adverse Change 22 SECTION 4.05. Regulations T, U and X 31 Properties 22 SECTION 4.06. Non-Affiliation with Banks 31 Litigation and Environmental Matters 23 SECTION 4.07. Subsidiaries 31 Compliance with Laws and Agreements 23 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page Investment and Holding Company Status 23 SECTION 4.09. Litigation 32 Taxes 23 SECTION 4.10. ERISA 32 23 SECTION 4.11. Taxes 32 Disclosure 23 SECTION 4.12. Compliance 32 Subsidiaries 24 SECTION 4.13. Fiscal Year 32 Insurance 24 SECTION 4.14. Full Disclosure 33 SECTION 4.15. Account 33 SECTION 4.16. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 Solvency 24 ii ARTICLE V. COVENANTS 33 5 Affirmative Covenants SECTION 5.01. Financial Statements and Other Information 33 24 SECTION 5.02. Notice of Material Events 25 SECTION 5.03. Information Regarding Collateral 26 SECTION 5.04. Existence; Conduct of Business 26 SECTION 5.05. Payment of Obligations 34 26 SECTION 5.035.06. Maintenance of Properties 26 SECTION 5.07. Insurance 35 26 SECTION 5.045.08. Conduct of Business Casualty and Maintenance of Existence 35 Condemnation 27 SECTION 5.055.09. Proper Records; Rights to Inspect 27 SECTION 5.10. Compliance with Laws 35 27 SECTION 5.06. Inspection of Property, Books and Records 36 SECTION 5.07. Debt 36 SECTION 5.08. Liens 36 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 SECTION 5.105.11. Use of Proceeds 37 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 27 SECTION 5.12. Non-Affiliation with Banks 37 Additional Subsidiaries 27 SECTION 5.13. Regulated Investment Company 37 Further Assurances 28 ARTICLE 6 Negative Covenants SECTION 5.146.01. [reserved] 37 Debt; Certain Equity Securities 28 SECTION 5.156.02. ERISA 38 Liens 29 SECTION 5.166.03. Fiscal Year 38 Fundamental Changes 30 SECTION 5.176.04. Regulation U 38 Investments, Loans, Advances, Guarantees and Acquisitions 30 SECTION 5.18. Custodian 38 SECTION 5.196.05. Asset Coverage 38 TABLE OF CONTENTS (continued) Page Sales 31 SECTION 5.206.06. Derivatives Obligations 31 SECTION 6.07. Restricted Payments; Certain Payments of Debt 31 SECTION 6.08. Transactions with Affiliates 31 SECTION 6.09. Restrictive Agreements 32 SECTION 6.10. Amendment of Material Documents 32 SECTION 6.11. Capital Expenditures 32 SECTION 6.12. Minimum Consolidated EBITDA 32 SECTION 6.13. Maximum Amount 38 Cash Balances 32 ARTICLE 7 Events of Default SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 ARTICLE VI. DEFAULTS 39 SECTION 6.017.01. Events of Default 39 33 ARTICLE 8 The Agent SECTION 6.02. Remedies 41 ARTICLE VII. THE AGENT 41 SECTION 7.018.01. Appointment and Authorization 41 34 SECTION 7.028.02. Agent and Affiliates 34 SECTION 8.03. Action by Agent 41 35 SECTION 7.038.04. Consultation with Experts 41 35 SECTION 7.048.05. Liability of Agent 41 35 SECTION 7.058.06. Indemnification 42 35 SECTION 7.068.07. Credit Decision 42 35 SECTION 7.078.08. Successor Agent 42 35 SECTION 7.088.09. Agent as Bank 43 Agent's Fees 36 iii ARTICLE 9 Change in Circumstances SECTION 7.09. Distribution by Agent 43 SECTION 7.10. Delinquent Banks 43 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.029.01. Basis for Determining Interest Rate Inadequate or Unfair 45 36 SECTION 8.039.02. Illegality 46 36 SECTION 8.049.03. Increased Cost and Reduced Return 36 SECTION 9.04. Taxes 37 SECTION 9.05. Base Rate Loans Substituted for Affected LIBOR Euro-dollar Loans 46 39 SECTION 8.059.06. Replacement Banks 47 Substitution of Bank 39 ARTICLE 10 Miscellaneous SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 ARTICLE IX. MISCELLANEOUS 47 SECTION 9.0110.01. Notices 47 39 SECTION 9.0210.02. No Waivers 48 TABLE OF CONTENTS (continued) Page 39 SECTION 9.0310.03. Expenses; Indemnification 48 39 SECTION 9.0410.04. Setoff 48 Sharing of Set-offs 40 SECTION 9.0510.05. Amendments and Waivers 49 40 SECTION 9.0610.06. Successors and Assigns 49 40 SECTION 9.0710.07. Collateral 41 SECTION 10.08. Governing Law; Submission to Jurisdiction 51 41 SECTION 9.0810.09. Counterparts; Integration 42 SECTION 10.10. WAIVER OF JURY TRIAL 52 42 SECTION 9.0910.11. Confidential Information 52 SECTION 9.10. USA Patriot Act 53 SECTION 9.11. Miscellaneous 53 Schedules: Right of Setoff 42 Page Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: 1.01A — Availability Amount Schedule 4.04 — Disclosed Matters Schedule 4.05 — Mortgaged Properties Schedule 4.12 — Subsidiaries Schedule 4.13 — Insurance Schedule 6.01 — Existing Debt Schedule 6.02 — Existing Liens Schedule 6.04 — Existing Investments Exhibit A - Form of — Note Exhibit B - Form — Opinions of Notice of Borrowing Counsel for the Borrower and the Guarantors Exhibit C - Form of Notice of Conversion — Security Agreement Exhibit D - Form of Borrowing Base Report — Pledge Agreement Exhibit E - Form of Certificate of No Default Exhibit F - Form of — Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:Assumption Agreement

Notice to Banks. Funding of Loans; Additional Provisions Relating to Swingline Loans 18 SECTION 2.04. 17 Section 2.05 Notes; Loan Accounts; Notes; Records 19 SECTION 2.05. Mandatory Payments; Optional Prepayments Section 2.06 Maturity of Loans 20 SECTION 2.06. Section 2.07 Interest Rates 21 SECTION 2.07. 20 Section 2.08 Fees 22 SECTION 2.08. Section 2.09 Optional Termination and or Reduction of Commitments 22 SECTION 2.09. Extension Section 2.10 Method of Electing Interest Rates 22 Section 2.11 Mandatory Termination Date 23 SECTION 2.10. of Commitments 24 Section 2.12 Optional Payments 24 Section 2.13 General Provisions as to Payments Payment 24 SECTION 2.11. Section 2.14 Funding Losses 25 Section 2.15 Computation of Interest and Fees 26 SECTION 2.12. Withholding Tax Exemption 26 SECTION 2.13. Payment 25 Section 2.16 Letters of Other Taxes by the Borrower 28 ARTICLE III. CONDITIONS 28 SECTION 3.01. Effectiveness 28 SECTION 3.02. All Borrowings Credit 25 Section 2.17 Maximum Interest Rate 29 SECTION 3.03. Security Section 2.18 Pro Rata Treatment 30 ARTICLE IV. 3 CONDITIONS 30 Section 3.01 Conditions to Effectiveness 30 Section 3.02 Credit Extensions 31 ARTICLE 4 REPRESENTATIONS AND WARRANTIES 30 SECTION 4.01. 31 Section 4.01 Corporate Existence and PowerPower 31 Section 4.02 Corporate and Governmental Authorization; No Contravention 31 Section 4.03 Binding Effect 32 Section 4.04 Financial Information 32 Section 4.05 Litigation 32 Section 4.06 Compliance with ERISA 33 Section 4.07 Environmental Matters 33 Section 4.08 Taxes 33 Section 4.09 Subsidiaries 33 Section 4.10 Not an Investment Company 30 SECTION 4.02. Authorization; Execution and Delivery, Etc. 30 SECTION 4.03. Noncontravention 30 SECTION 4.04. Governmental Authorizations; Private Authorization 31 SECTION 4.05. Regulations T, U and X 31 SECTION 4.06. Non-Affiliation with Banks 31 SECTION 4.07. Subsidiaries 31 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page SECTION 4.09. Litigation 32 SECTION 4.10. ERISA 32 SECTION 4.11. Taxes 32 SECTION 4.12. Compliance 32 SECTION 4.13. Fiscal Year 32 SECTION 4.14. 34 Section 4.11 Full Disclosure 33 SECTION 4.15. Account 33 SECTION 4.16. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 34 ARTICLE V. 5 COVENANTS 33 SECTION 5.01. 34 Section 5.01 Information 33 SECTION 5.02. 34 Section 5.02 Payment of Obligations 34 SECTION 5.03. 36 Section 5.03 Maintenance of Property; Insurance 35 SECTION 5.04. 36 Section 5.04 Conduct of Business and Maintenance of Existence 35 SECTION 5.05. 36 Section 5.05 Compliance with Laws 35 SECTION 5.06. 36 Section 5.06 Inspection of Property, Books and Records 36 SECTION 5.07. 37 Section 5.07 Debt 36 SECTION 5.08. Liens 36 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 SECTION 5.10. Use of Proceeds 37 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 SECTION 5.12. Non-Affiliation with Banks 37 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] 37 SECTION 5.15. ERISA 38 SECTION 5.16. Fiscal Year 38 SECTION 5.17. Regulation U 38 SECTION 5.18. Custodian 38 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 ARTICLE VI. DEFAULTS 39 SECTION 6.01. Events of Default 39 SECTION 6.02. Remedies 41 ARTICLE VII. THE AGENT 41 SECTION 7.01. Appointment and Authorization 41 SECTION 7.02. Action by Agent 41 SECTION 7.03. Consultation with Experts 41 SECTION 7.04. Liability of Agent 41 SECTION 7.05. Indemnification 42 SECTION 7.06. Credit Decision 42 SECTION 7.07. Successor Agent 42 SECTION 7.08. Agent as Bank 43 SECTION 7.09. Distribution by Agent 43 SECTION 7.10. Delinquent Banks 43 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 SECTION 8.03. Illegality 46 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 SECTION 8.05. Replacement Banks 47 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 ARTICLE IX. MISCELLANEOUS 47 SECTION 9.01. Notices 47 SECTION 9.02. No Waivers 48 TABLE OF CONTENTS (continued) Page SECTION 9.03. Expenses; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 SECTION 9.08. WAIVER OF JURY TRIAL 52 SECTION 9.09. Confidential Information 52 SECTION 9.10. USA Patriot Act 53 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:37

Notice to Banks. Funding of Loans 18 9 SECTION 2.04. Loan Accounts; Notes; Records 19 Evidence of Indebtedness 10 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 Maturity of Loans 10 SECTION 2.06. Interest Rates 21 10 SECTION 2.07. Facility Fees 22 11 SECTION 2.08. Termination and or Reduction of Commitments 22 12 SECTION 2.09. Extension of Termination Date 23 Prepayments 12 SECTION 2.10. General Provisions as to Payments 24 13 SECTION 2.11. Funding Losses 13 SECTION 2.12. Computation of Interest and Fees 26 SECTION 2.12. Withholding Tax Exemption 26 SECTION 2.13. Payment of Other Taxes by the Borrower 28 13 ARTICLE III. III CONDITIONS 28 14 SECTION 3.01. Effectiveness 28 Borrowings 14 SECTION 3.02. All Borrowings 29 SECTION 3.03. Security 30 Effectiveness 14 ARTICLE IV. IV REPRESENTATIONS AND WARRANTIES 30 15 SECTION 4.01. Corporate Existence and Power; Investment Company 30 Power 15 SECTION 4.02. Corporate and Governmental Authorization; Execution and Delivery, Etc. 30 Contravention 15 SECTION 4.03. Noncontravention 30 Binding Effect 16 SECTION 4.04. Governmental Authorizations; Private Authorization 31 Financial Information 16 SECTION 4.05. Regulations T, U and X 31 Litigation 17 SECTION 4.06. Non-Affiliation Compliance with Banks 31 ERISA 17 SECTION 4.07. Subsidiaries 31 Taxes 17 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page Subsidiaries 17 SECTION 4.09. Litigation 32 Not an Investment Company 17 SECTION 4.10. ERISA 32 Obligations to be Pari Passu 18 SECTION 4.11. Taxes 32 No Default 18 SECTION 4.12. Compliance 32 Restricted Subsidiaries 18 SECTION 4.13. Fiscal Year 32 Environmental Matters 18 SECTION 4.14. Full Disclosure 33 SECTION 4.15. Account 33 SECTION 4.16. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 ARTICLE V. COVENANTS 33 SECTION 5.01. Information 33 SECTION 5.02. Payment 18 1 The Table of Obligations 34 SECTION 5.03. Maintenance Contents is not a part of Insurance 35 SECTION 5.04. Conduct of Business and Maintenance of Existence 35 SECTION 5.05. Compliance with Laws 35 SECTION 5.06. Inspection of Property, Books and Records 36 SECTION 5.07. Debt 36 SECTION 5.08. Liens 36 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 SECTION 5.10. Use of Proceeds 37 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 SECTION 5.12. Non-Affiliation with Banks 37 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] 37 SECTION 5.15. ERISA 38 SECTION 5.16. Fiscal Year 38 SECTION 5.17. Regulation U 38 SECTION 5.18. Custodian 38 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 ARTICLE VI. DEFAULTS 39 SECTION 6.01. Events of Default 39 SECTION 6.02. Remedies 41 ARTICLE VII. THE AGENT 41 SECTION 7.01. Appointment and Authorization 41 SECTION 7.02. Action by Agent 41 SECTION 7.03. Consultation with Experts 41 SECTION 7.04. Liability of Agent 41 SECTION 7.05. Indemnification 42 SECTION 7.06. Credit Decision 42 SECTION 7.07. Successor Agent 42 SECTION 7.08. Agent as Bank 43 SECTION 7.09. Distribution by Agent 43 SECTION 7.10. Delinquent Banks 43 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 SECTION 8.03. Illegality 46 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 SECTION 8.05. Replacement Banks 47 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 ARTICLE IX. MISCELLANEOUS 47 SECTION 9.01. Notices 47 SECTION 9.02. No Waivers 48 TABLE OF CONTENTS (continued) Page SECTION 9.03. Expenses; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 SECTION 9.08. WAIVER OF JURY TRIAL 52 SECTION 9.09. Confidential Information 52 SECTION 9.10. USA Patriot Act 53 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INCthis Agreement., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:

Notice to Banks. Funding of Loans 18 SECTION 13 Section 2.04. Loan AccountsRegistry; Notes; Records 19 SECTION Notes 14 Section 2.05. Mandatory Payments; Optional Prepayments 20 SECTION Maturity of Loans 15 Section 2.06. Interest Rates 21 SECTION 15 Section 2.07. Fees 22 SECTION 16 Section 2.08. Optional Termination and or Reduction of Commitments 22 SECTION 16 Section 2.09. Extension Method of Electing Interest Rates 17 Section 2.10. Mandatory Termination Date 23 SECTION 2.10of Commitments 18 Section 2.11. Optional Prepayments 18 Section 2.12. General Provisions as to Payments 24 SECTION 2.1118 Section 2.13. Funding Losses 19 Section 2.14. Computation of Interest and Fees 26 SECTION 2.1219 Section 2.15. Withholding Tax Exemption 26 SECTION 2.13Regulation D Compensation 20 Section 2.16. Payment of Other Taxes by the Borrower 28 Increase in Commitments; Additional Banks 20 ARTICLE III. CONDITIONS 28 SECTION 3 Conditions Section 3.01. Effectiveness 28 SECTION 21 Section 3.02. All Borrowings 29 SECTION 3.03. Security 30 22 ARTICLE IV. REPRESENTATIONS AND WARRANTIES 30 SECTION 4 Representations and Warranties Section 4.01. Existence Organization and Power; Investment Company 30 SECTION Power 23 Section 4.02. Corporate and Governmental Authorization; Execution and Delivery, Etc. 30 SECTION No Contravention 23 Section 4.03. Noncontravention 30 SECTION Binding Effect 23 Section 4.04. Governmental Authorizations; Private Authorization 31 SECTION 4.05. Regulations T, U and X 31 SECTION 4.06. Non-Affiliation with Banks 31 SECTION 4.07. Subsidiaries 31 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) 23 Page SECTION 4.09Section 4.05. Regulation U 24 Section 4.06. Litigation 32 SECTION 4.1024 Section 4.07. ERISA 32 SECTION 4.11Compliance with Laws 24 Section 4.08. Taxes 32 SECTION 4.12. Compliance 32 SECTION 4.13. Fiscal Year 32 SECTION 4.14. Full Disclosure 33 SECTION 4.15. Account 33 SECTION 4.16. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 24 ARTICLE V. COVENANTS 33 SECTION 5 Covenants Section 5.01. Information 33 SECTION 25 Section 5.02. Payment of Obligations 34 SECTION Taxes 27 Section 5.03. Maintenance of Property; Insurance 35 SECTION 27 Section 5.04. Conduct of Business and Maintenance of Existence 35 SECTION 27 Section 5.05. Compliance with Laws 35 SECTION 28 Section 5.06. Inspection of Property, Books and Records 36 SECTION 28 Section 5.07. Debt 36 SECTION Negative Pledge 28 Section 5.08. Liens 36 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 SECTION 5.1030 Section 5.09. Use of Proceeds 37 SECTION 5.1130 Section 5.10. Compliance with Investment Policies and Restrictions 37 SECTION 5.12. Non-Affiliation with Banks 37 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] 37 SECTION 5.15. ERISA 38 SECTION 5.16. Fiscal Year 38 SECTION 5.17. Regulation U 38 SECTION 5.18. Custodian 38 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 Indebtedness/Capitalization Ratio 30 ARTICLE VI. DEFAULTS 39 SECTION 6 Defaults Section 6.01. Events of Default 39 SECTION 31 Section 6.02. Remedies 41 Notice of Default 33 ARTICLE VII. THE AGENT 41 SECTION 7 The Administrative Agent Section 7.01. Appointment and Authorization 41 SECTION 33 Section 7.02. Administrative Agent and Affiliates 33 Section 7.03. Action by Administrative Agent 41 SECTION 7.0334 Section 7.04. Consultation with Experts 41 SECTION 7.0434 Section 7.05. Liability of Administrative Agent 41 SECTION 7.0534 Section 7.06. Indemnification 42 SECTION 7.0634 Section 7.07. Credit Decision 42 SECTION 7.0735 Section 7.08. Successor Administrative Agent 42 SECTION 7.08. Agent as Bank 43 SECTION 35 Section 7.09. Distribution by Agent 43 SECTION Administrative Agent’s Fee 35 Section 7.10. Delinquent Banks 43 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 SECTION 8.03. Illegality 46 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 SECTION 8.05. Replacement Banks 47 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 ARTICLE IX. MISCELLANEOUS 47 SECTION 9.01. Notices 47 SECTION 9.02. No Waivers 48 TABLE OF CONTENTS (continued) Page SECTION 9.03. Expenses; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 SECTION 9.08. WAIVER OF JURY TRIAL 52 SECTION 9.09. Confidential Information 52 SECTION 9.10. USA Patriot Act 53 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:Other Agents 35

Notice to Banks. Funding of Loans 18 16 SECTION 2.04. Loan Accounts; Notes; Records 19 17 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 18 SECTION 2.06. Interest Rates 21 19 SECTION 2.07. Fees 22 20 SECTION 2.08. Termination and Reduction of Commitments 22 20 SECTION 2.09. Extension of Termination Date 23 SECTION 2.10. General Provisions as to Payments 24 20 SECTION 2.112.10. Computation of Interest and Fees 26 23 SECTION 2.122.11. Withholding Tax Exemption 26 23 SECTION 2.132.12. Payment Addition and Removal of Other Taxes by the Borrower 28 Borrowers 25 ARTICLE III. CONDITIONS 28 26 SECTION 3.01. Effectiveness 28 26 SECTION 3.02. All Borrowings 29 SECTION 3.03. Security 30 27 ARTICLE IV. REPRESENTATIONS AND WARRANTIES 30 28 SECTION 4.01. Existence and Power; Investment Company 30 28 SECTION 4.02. Authorization; Execution and Delivery, Etc. 30 Etc 29 SECTION 4.03. Noncontravention 30 29 SECTION 4.04. Governmental Authorizations; Private Authorization 31 29 SECTION 4.05. Regulations T, U and X 31 29 SECTION 4.06. Non-Affiliation with Banks 31 30 SECTION 4.07. Subsidiaries 31 SECTION 4.08. Financial Information 31 30 TABLE OF CONTENTS (continued) Page SECTION 4.08. Financial Information 30 SECTION 4.09. Material Litigation 32 30 SECTION 4.10. ERISA 32 30 SECTION 4.11. Taxes 32 31 SECTION 4.12. Compliance 32 31 SECTION 4.13. Fiscal Year 32 31 SECTION 4.14. Full Disclosure 33 31 SECTION 4.15. Account 33 Offering Document 32 SECTION 4.16. SanctionsOFAC, Etc. 33 Anti-Corruption and Other Regulations 32 SECTION 4.17. Title to Assets 33 32 ARTICLE V. COVENANTS 33 32 SECTION 5.01. Information 33 32 SECTION 5.02. Payment of Obligations 34 SECTION 5.03. Maintenance of Insurance 35 34 SECTION 5.04. Conduct of Business and Maintenance of Existence 35 34 SECTION 5.05. Compliance with Laws 35 SECTION 5.06. Inspection of Property, Books and Records 36 35 SECTION 5.07. Debt 36 Indebtedness 35 SECTION 5.08. Liens 36 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 36 SECTION 5.10. Use of Proceeds 37 36 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 36 SECTION 5.12. Non-Affiliation with Banks 37 36 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] No Subsidiary 37 SECTION 5.15. ERISA 38 37 SECTION 5.16. Fiscal Year 38 37 SECTION 5.17. Regulation U 38 Margin Regulations 37 SECTION 5.18. Custodian 38 Custodian; Administrator; Auditor 37 SECTION 5.19. Asset Coverage 38 37 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 37 SECTION 5.21. Negative Pledge 38 Restricted Payments 37 SECTION 5.22. Further Assurances OFAC, Anti-Corruption and Other Regulations 38 SECTION 5.23. Sanctions, Etc Interfund Lending 38 SECTION 5.24. Further Assurances 39 ARTICLE VI. DEFAULTS 39 SECTION 6.01. Events of Default 39 SECTION 6.02. Remedies 41 ARTICLE VII. THE AGENT 41 SECTION 7.01. Appointment and Authorization 41 SECTION 7.02. Action by Agent 41 SECTION 7.03. Consultation with Experts 41 SECTION 7.04. Liability of Agent 41 42 SECTION 7.05. Indemnification 42 SECTION 7.06. Credit Decision 42 SECTION 7.07. Successor Agent 42 43 SECTION 7.08. Agent as Bank 43 SECTION 7.09. Distribution by Agent 43 SECTION 7.10. Delinquent Banks Withholding Tax 43 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair Replacement Banks 45 SECTION 8.03. Illegality 46 Change of Law 45 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans Delinquent Banks 46 SECTION 8.05. Replacement Banks 47 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 ARTICLE IX. MISCELLANEOUS 47 SECTION 9.01. Notices 47 SECTION 9.02. No Waivers 48 SECTION 9.03. Expenses; Documentary Taxes; Indemnification 48 SECTION 9.04. Set Off 49 SECTION 9.05. Amendments and Waivers 50 TABLE OF CONTENTS (continued) Page SECTION 9.03. Expenses; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 50 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 52 SECTION 9.08. WAIVER OF JURY TRIAL 52 53 SECTION 9.09. Confidential Information 52 Material 53 SECTION 9.10. USA Patriot Act 53 54 SECTION 9.11. Interest Rate Limitation 54 SECTION 9.12. Survival 54 SECTION 9.13. Limitation on Liability 54 SECTION 9.14. No Fiduciary Duty 55 SECTION 9.15. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts 55 SECTION 9.16. Acknowledgement and Commitment Percentages Consent to Bail-In of EEA Financial Institutions 55 Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Borrowing/Repayment/Rollover Certificate Exhibit C - Form of Notice of Conversion Compliance Certificate Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G E - Form of Perfection Certificate Joinder Agreement Exhibit F - Form of Removal Notice Schedules: Schedule 1 - Addresses for Notices, Applicable Lending Offices, Commitment Amounts and Commitment Percentages Schedule 2 - List of Companies, Funds, Custody Agreements and Fiscal Year End Dates Schedule 3 - Affected Banks and Affected Borrowers CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6October 27, 20152016, by among each corporation and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”)each trust listed on Schedule 2 hereto, the Banks (as hereinafter defined) party hereto from time to time time, and STATE STREET BANK AND TRUST COMPANY COMPANY, as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:

Notice to Banks. Funding of Loans 18 16 SECTION 2.04. Loan Accounts; Notes; Records 19 18 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 18 SECTION 2.06. Interest Rates 21 20 SECTION 2.07. Fees 22 20 SECTION 2.08. Termination and Reduction of Commitments 22 20 SECTION 2.09. Extension of Termination Date 23 21 SECTION 2.10. General Provisions as to Payments 24 22 SECTION 2.11. Computation of Interest and Fees 26 24 SECTION 2.12. Withholding Tax Exemption 26 SECTION 2.13. Payment of Other Taxes by the Borrower 28 25 ARTICLE III. CONDITIONS 28 26 SECTION 3.01. Effectiveness 28 26 SECTION 3.02. All Borrowings 29 27 SECTION 3.03. Security 30 28 ARTICLE IV. REPRESENTATIONS AND WARRANTIES 30 28 SECTION 4.01. Existence and Power; Investment Company 30 28 SECTION 4.02. Authorization; Execution and Delivery, Etc. 30 28 SECTION 4.03. Noncontravention 30 28 SECTION 4.04. Governmental Authorizations; Private Authorization 31 Authorizations 29 SECTION 4.05. Regulations T, U and X 31 29 SECTION 4.06. Non-Affiliation with Banks 31 29 SECTION 4.07. Subsidiaries 31 29 SECTION 4.08. Financial Information 31 29 SECTION 4.09. Litigation 30 TABLE OF CONTENTS (continued) Page SECTION 4.09. Litigation 32 SECTION 4.10. ERISA 32 30 SECTION 4.11. Taxes 32 30 SECTION 4.12. Compliance 32 30 SECTION 4.13. Fiscal Year 32 31 SECTION 4.14. Full Disclosure 33 31 SECTION 4.15. Account 33 Intentionally Omitted 31 SECTION 4.16. Sanctions, Etc. 33 Account 31 SECTION 4.17. Foreign Assets, Control Regulations 31 SECTION 4.18. Title to Assets 33 31 ARTICLE V. COVENANTS 33 32 SECTION 5.01. Information 33 32 SECTION 5.02. Payment of Obligations 34 33 SECTION 5.03. Maintenance of Insurance 35 33 SECTION 5.04. Conduct of Business and Maintenance of Existence 35 33 SECTION 5.05. Compliance with Laws 35 34 SECTION 5.06. Inspection of Property, Books and Records 36 34 SECTION 5.07. Debt 36 34 SECTION 5.08. Liens 36 35 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 35 SECTION 5.10. Use of Proceeds 37 35 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 35 SECTION 5.12. Non-Affiliation with Banks 37 36 SECTION 5.13. Regulated Investment Company 37 36 SECTION 5.14. [reserved] 37 No Subsidiary 36 SECTION 5.15. ERISA 38 36 SECTION 5.16. Fiscal Year 38 36 SECTION 5.17. Regulation U 38 36 SECTION 5.18. Custodian 38 36 SECTION 5.19. Asset Coverage 38 37 SECTION 5.20. Maximum Amount 37 SECTION 5.21. Further Assurances 37 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 ARTICLE VI. DEFAULTS 39 37 SECTION 6.01. Events of Default 39 37 SECTION 6.02. Remedies 41 39 ARTICLE VII. THE AGENT 41 40 SECTION 7.01. Appointment and Authorization 41 40 SECTION 7.02. Action by Agent 41 40 SECTION 7.03. Consultation with Experts 41 40 SECTION 7.04. Liability of Agent 41 40 SECTION 7.05. Indemnification 42 40 SECTION 7.06. Credit Decision 42 41 SECTION 7.07. Successor Agent 42 41 SECTION 7.08. Agent as Bank 43 41 SECTION 7.09. Distribution by Agent 43 41 SECTION 7.10. Delinquent Banks 43 41 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 42 SECTION 8.01. Additional Costs; Capital Adequacy 44 42 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 44 SECTION 8.03. Illegality 46 44 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 45 SECTION 8.05. Replacement Banks 47 45 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 46 ARTICLE IX. MISCELLANEOUS 47 46 SECTION 9.01. Notices 47 46 SECTION 9.02. No Waivers 46 SECTION 9.03. Expenses; Documentary Taxes; Indemnification 46 SECTION 9.04. Setoff 47 SECTION 9.05. Amendments and Waivers 47 SECTION 9.06. Successors and Assigns 48 TABLE OF CONTENTS (continued) Page SECTION 9.03. Expenses; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 Jurisdiction; Choice of Forum 50 SECTION 9.08. WAIVER OF JURY TRIAL 52 50 SECTION 9.09. Confidential Information 52 Confidentiality 50 SECTION 9.10. USA Patriot Act 53 51 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages 51 Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G Schedules: Schedule 1 - Form of Perfection Certificate Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6May 21, 20152009, by and among NEXPOINT CAPITAL, WESTERN ASSET GLOBAL HIGH INCOME FUND INC., a Delaware Maryland corporation that is registered under the Investment Company Act of 1940, as amended, as a closed-end management investment company (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:

Notice to Banks. Funding of Loans 16 Section 2.5 Notes 17 Section 2.6 Maturity of Loans 18 SECTION 2.04. Loan Accounts; Notes; Records 19 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 SECTION 2.06. Section 2.7 Interest Rates 21 SECTION 2.07. 18 Section 2.8 Fees 22 SECTION 2.08. 20 Section 2.9 Optional Termination and or Reduction of Commitments 22 SECTION 2.09. Extension 21 Section 2.10 Mandatory Termination of Commitment; Effect of Termination Date 23 SECTION 2.10. or Reduction 21 Section 2.11 Optional Prepayments 21 Section 2.12 General Provisions as to Payments 24 SECTION 2.11. 21 Section 2.13 Funding Losses 22 Section 2.14 Computation of Interest and Fees 26 SECTION 2.12. Withholding Tax Exemption 26 SECTION 2.13. Payment 22 Section 2.15 Special Mandatory Prepayment/Commitment Termination 22 Section 2.16 Letters of Other Taxes by the Borrower Credit 23 ARTICLE 3 CONDITIONS 27 Section 3.1 Effectiveness 27 Section 3.2 Closing 28 ARTICLE III. CONDITIONS 28 SECTION 3.01. Effectiveness 28 SECTION 3.02. All Borrowings 29 SECTION 3.03. Security 30 ARTICLE IV. REPRESENTATIONS 4 REPRESENENTATIONS AND WARRANTIES 30 SECTION 4.01. 29 Section 4.1 Corporate Existence and PowerPower 29 Section 4.2 Corporate and Governmental Authorization; No Contravention 29 Section 4.3 Binding Effect 29 Section 4.4 Financial Information 29 Section 4.5 Litigation 30 Section 4.6 Compliance with ERISA 30 Section 4.7 Subsidiaries 30 Section 4.8 Not an Investment Company 30 SECTION 4.02. AuthorizationARTICLE 5 COVENANTS 30 Section 5.1 Information 30 Section 5.2 Maintenance of Property; Execution and Delivery, Etc. 30 SECTION 4.03. Noncontravention 30 SECTION 4.04. Governmental Authorizations; Private Authorization Insurance 31 SECTION 4.05. Regulations T, U and X 31 SECTION 4.06. Non-Affiliation with Banks 31 SECTION 4.07. Subsidiaries 31 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page SECTION 4.09. Litigation 32 SECTION 4.10. ERISA 32 SECTION 4.11. Taxes 32 SECTION 4.12. Compliance 32 SECTION 4.13. Fiscal Year 32 SECTION 4.14. Full Disclosure 33 SECTION 4.15. Account 33 SECTION 4.16. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 ARTICLE V. COVENANTS 33 SECTION 5.01. Information 33 SECTION 5.02. Section 5.3 Payment of Obligations 34 SECTION 5.03. Maintenance of Insurance 35 SECTION 5.04. Taxes and Assessments, Conduct of Business and Maintenance of Existence 35 SECTION 5.05. 31 Section 5.4 Compliance with Laws 35 SECTION 5.06. Inspection of Property, Books 32 Section 5.5 Restrictions on Sale and Records 36 SECTION 5.07. Debt 36 SECTION 5.08. Liens 36 SECTION 5.09. Lease-Back Transactions 32 Section 5.6 Negative Pledge 33 Section 5.7 Consolidations, Mergers and Sales of Assets 37 SECTION 5.10. 35 Section 5.8 Use of Proceeds 36 Section 5.9 Total Debt to Total Capitalization Ratio 36 Section 5.10 Subsidiary Debt 37 SECTION 5.11. Compliance with Investment Policies and Restrictions ARTICLE 6 DEFAULTS 37 SECTION 5.12. Non-Affiliation with Banks 37 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] 37 SECTION 5.15. ERISA 38 SECTION 5.16. Fiscal Year 38 SECTION 5.17. Regulation U 38 SECTION 5.18. Custodian 38 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 ARTICLE VI. DEFAULTS 39 SECTION 6.01. Section 6.1 Events of Default 37 Section 6.2 Notice of Default 39 SECTION 6.02. Remedies 41 ARTICLE VII. 7 THE AGENT 41 SECTION 7.01. AGENTS 39 Section 7.1 Appointment and Authorization 41 SECTION 7.02. 39 Section 7.2 Agents and Affiliates 39 Section 7.3 Action by Agent 41 SECTION 7.03. Agents 39 Section 7.4 Consultation with Experts 41 SECTION 7.04. 39 Section 7.5 Liability of Agent 41 SECTION 7.05. Agents 40 Section 7.6 Indemnification 42 SECTION 7.06. 40 Section 7.7 Credit Decision 42 SECTION 7.07. 40 Section 7.8 Successor Administrative Agent 42 SECTION 7.08. Agent as Bank 43 SECTION 7.09. Distribution by Agent 43 SECTION 7.10. Delinquent Banks 43 40 Section 7.9 Syndication Agent, Documentation Agents, Managing Agents and Co-Agents 41 ARTICLE VIII. 8 CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.02. 41 Section 8.1 Basis for Determining Interest Rate Inadequate or Unfair 45 SECTION 8.03. 41 Section 8.2 Illegality 46 SECTION 8.04. 41 Section 8.3 Increased Cost and Reduced Return 42 Section 8.4 Base Rate Loans Substituted for Affected LIBOR Fixed Rate Loans 46 SECTION 8.05. Replacement Banks 47 SECTION 8.06. Indemnity 47 SECTION 8.07. Change 43 Section 8.5 Substitution or Removal of Law 47 Bank 44 ARTICLE IX. 9 MISCELLANEOUS 47 SECTION 9.01. 45 Section 9.1 Notices 47 SECTION 9.02. 45 Section 9.2 No Waivers 48 TABLE OF CONTENTS (continued) Page SECTION 9.03. 45 Section 9.3 Expenses; Documentary Taxes; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 SECTION 9.08. WAIVER OF JURY TRIAL 52 SECTION 9.09. Confidential Information 52 SECTION 9.10. USA Patriot Act 53 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:45

Notice to Banks. Funding of Loans 18 SECTION 2.04. Loan Accounts; Notes; Records 19 29 SECTION 2.05. Mandatory Payments; Optional Prepayments 20 Swingline Borrowings 30 SECTION 2.06. Interest Rates 21 Repayment of Loans; Evidence of Debt 31 SECTION 2.07. Fees 22 Maturity of Loans 32 SECTION 2.08. Interest Rates 32 SECTION 2.09. Fees 33 SECTION 2.10. Termination and or Reduction of Commitments 22 34 SECTION 2.092.11. Extension of Termination Date 23 [Reserved] 34 SECTION 2.102.12. Prepayments 34 SECTION 2.13. General Provisions as to Payments 24 35 SECTION 2.112.14. Computation [Reserved] 36 SECTION 2.15. [Reserved 36 SECTION 2.16. Method of Electing Interest and Fees 26 Rates 37 SECTION 2.122.17. Withholding Tax Exemption 26 Letters of Credit 38 SECTION 2.132.18. Payment Increase of Other Taxes by the Borrower 28 Revolving Commitments 42 ARTICLE III. III CONDITIONS 28 43 SECTION 3.01. Effectiveness 28 Closing 43 SECTION 3.02. All Borrowings 29 SECTION 3.03. Security 30 44 ARTICLE IV. IV REPRESENTATIONS AND WARRANTIES 30 45 SECTION 4.01. Corporate Existence and Power; Investment Company 30 Power 45 SECTION 4.02. Corporate and Governmental Authorization; Execution and Delivery, Etc. 30 No Contravention 45 SECTION 4.03. Noncontravention 30 Binding Effect 45 SECTION 4.04. Governmental Authorizations; Private Authorization 31 Financial Information 45 SECTION 4.05. Regulations T, U and X 31 Litigation 46 SECTION 4.06. Non-Affiliation Compliance with Banks 31 ERISA 46 SECTION 4.07. Subsidiaries 31 Environmental Matters 46 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page Taxes 46 SECTION 4.09. Litigation 32 Subsidiaries 46 SECTION 4.10. ERISA 32 No Regulatory Restrictions on Borrowing 47 SECTION 4.11. Taxes 32 Full Disclosure 47 SECTION 4.12. Compliance 32 Anti-Corruption Laws, Anti-Money Laundering Laws and Sanctions 47 SECTION 4.13. Fiscal Year 32 SECTION 4.14. Full Disclosure 33 SECTION 4.15. Account 33 SECTION 4.16. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 Affected Financial Institutions 47 ARTICLE V. V COVENANTS 33 47 SECTION 5.01. Information 33 47 SECTION 5.02. Payment of Obligations 34 49 SECTION 5.03. Maintenance of Property; Insurance 35 49 SECTION 5.04. Conduct of Business and Maintenance of Existence 35 50 SECTION 5.05. Compliance with Laws 35 50 SECTION 5.06. Inspection of Property, Books and Records 36 50 SECTION 5.07. Debt 36 SECTION 5.08. Liens 36 SECTION 5.09. Consolidations, Mergers and Sales of Assets 37 50 SECTION 5.105.08. Use of Proceeds 37 51 SECTION 5.09. Negative Pledge 51 SECTION 5.10. Subsidiary Debt Limitation 52 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 Leverage Ratio 52 SECTION 5.12. Non-Affiliation with Banks 37 Interest Coverage Ratio 52 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] 37 SECTION 5.15. ERISA 38 SECTION 5.16. Fiscal Year 38 SECTION 5.17. Regulation U 38 SECTION 5.18. Custodian 38 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 Transactions with Affiliates 52 ARTICLE VI. VI DEFAULTS 39 53 SECTION 6.01. Events of Default 39 53 SECTION 6.02. Remedies 41 Notice of Default 54 ARTICLE VII. VII THE AGENT 41 54 SECTION 7.01. Appointment and Authorization 41 54 SECTION 7.02. Action by Agent 41 Administrative Agent’s Reliance; Indemnification 57 SECTION 7.03. Consultation with Experts 41 Posting of Communications 58 SECTION 7.04. Liability of The Administrative Agent 41 Individually 59 SECTION 7.05. Indemnification 42 Successor Administrative Agent 59 SECTION 7.06. Credit Decision 42 Acknowledgements of Banks and Issuing Banks 60 SECTION 7.07. Successor Agent 42 SECTION 7.08. Agent as Bank 43 SECTION 7.09. Distribution by Agent 43 SECTION 7.10. Delinquent Banks 43 Certain ERISA Matters 60 ARTICLE VIII. VIII CHANGE IN CIRCUMSTANCES 44 62 SECTION 8.01. Additional Costs; Capital Adequacy 44 Alternate Rate of Interest 62 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 Illegality 64 SECTION 8.03. Illegality 46 Increased Cost and Reduced Return 64 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 Break-Funding Payments 65 SECTION 8.05. Replacement Banks 47 Taxes 66 SECTION 8.06. Indemnity 47 [Reserved] 69 SECTION 8.07. Change Mitigation Obligations; Replacement of Law 47 Banks 69 SECTION 8.08. [Reserved] 70 SECTION 8.09. Defaulting Banks 70 ARTICLE IX. IX MISCELLANEOUS 47 73 SECTION 9.01. Notices 47 73 SECTION 9.02. No Waivers 48 TABLE OF CONTENTS (continued) Page 73 SECTION 9.03. Expenses; Indemnification 48 73 SECTION 9.04. Right of Setoff 48 75 SECTION 9.05. Amendments and Waivers 49 76 SECTION 9.06. Successors and Assigns 49 77 SECTION 9.07. Collateral 81 SECTION 9.08. Governing Law; Submission to Jurisdiction 51 82 SECTION 9.089.09. Counterparts; Integration; Effectiveness; Electronic Execution 82 SECTION 9.10. Severability 83 SECTION 9.11. Headings 83 SECTION 9.12. Limitation of Liability 83 SECTION 9.13. Construction 83 SECTION 9.14. [Reserved] 83 SECTION 9.15. WAIVER OF JURY TRIAL 52 83 SECTION 9.099.16. Confidential Information 52 Confidentiality 83 SECTION 9.109.17. USA Patriot PATRIOT Act 53 84 SECTION 9.119.18. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:Judgment Currency 85

Notice to Banks. Funding of Loans 18 SECTION 2.04Section 2.05. Conversion/Continuation of Loans 19 Section 2.06. Loan Accounts; Notes; Records 19 SECTION 2.05Accounts and Notes 20 Section 2.07. Mandatory Payments; Payment of Principal 21 Section 2.08. Interest 21 Section 2.09. Optional Prepayments 20 SECTION 2.06. Interest Rates 21 SECTION 2.07. Fees 22 SECTION 2.08. Termination and Reduction of Commitments 22 SECTION 2.09. Extension of Termination Date 23 SECTION Section 2.10. General Provisions as to Payments 24 SECTION Section 2.11. Computation of Interest and Fees 26 SECTION 24 Section 2.12. Withholding Tax Exemption 26 SECTION Reduction or Termination of Commitments 25 Section 2.13. Payment Lending Offices 25 Section 2.14. Reimbursement 26 Section 2.15. Letters of Other Taxes by the Borrower 28 Credit. 26 Section 2.16. Stop Issuance Notice 31 ARTICLE III. 3 CONDITIONS 28 SECTION Section 3.01. Conditions to Effectiveness 28 SECTION 31 Section 3.02. Conditions to All Borrowings 29 SECTION 3.03. Security 30 ARTICLE IV. Loans and Letters of Credit 33 REPRESENTATIONS AND WARRANTIES 30 SECTION Section 4.01. Corporate Existence and Power; Investment Company 30 SECTION Power 33 Section 4.02. No Contravention 33 Section 4.03. Corporate Authorization; Execution and Delivery, Etc. 30 SECTION 4.03. Noncontravention 30 SECTION Binding Effect 34 Section 4.04. Governmental Authorizations; Private Authorization 31 SECTION 4.05. Regulations T, U and X 31 SECTION 4.06. Non-Affiliation with Banks 31 SECTION 4.07. Subsidiaries 31 SECTION 4.08. Financial Information 31 TABLE OF CONTENTS (continued) Page SECTION 34 Section 4.05. Litigation; Taxes 34 Section 4.06. Margin Regulations 35 Section 4.07. Governmental Approvals 35 Section 4.08. Pari Passu Obligations 35 Section 4.09. Litigation 32 SECTION No Defaults 35 Section 4.10. ERISA 32 SECTION 4.11. Taxes 32 SECTION 4.12. Compliance 32 SECTION 4.13. Fiscal Year 32 SECTION 4.14. Full Disclosure 33 SECTION 4.1535 Section 4.11. Account 33 SECTION 4.16ERISA 35 Section 4.12. Sanctions, Etc. 33 SECTION 4.17. Title to Assets 33 Environmental Matters 36 ARTICLE V. 5 COVENANTS 33 SECTION Section 5.01. Information 33 SECTION 36 Section 5.02. Payment of Obligations 34 SECTION 38 Section 5.03. Insurance 38 Section 5.04. Maintenance of Insurance 35 SECTION 5.04Existence 38 Section 5.05. Conduct of Business and Maintenance of Existence 35 SECTION 5.05Properties 38 Section 5.06. Compliance with Laws 35 SECTION 5.06. Inspection of Property, Books and Records 36 SECTION 39 Section 5.07. Debt 36 SECTION 5.08. Liens 36 SECTION 5.09. ConsolidationsMergers, Mergers Consolidations and Sales of Assets 37 SECTION 39 Section 5.08. Limitation on Liens 40 Section 5.09. Leverage Ratio 42 Section 5.10. Use of Proceeds 37 SECTION 5.11. Compliance with Investment Policies and Restrictions 37 SECTION 5.12. Non-Affiliation with Banks 37 SECTION 5.13. Regulated Investment Company 37 SECTION 5.14. [reserved] 37 SECTION 5.15. ERISA 38 SECTION 5.16. Fiscal Year 38 SECTION 5.17. Regulation U 38 SECTION 5.18. Custodian 38 SECTION 5.19. Asset Coverage 38 TABLE OF CONTENTS (continued) Page SECTION 5.20. Maximum Amount 38 SECTION 5.21. Negative Pledge 38 SECTION 5.22. Further Assurances 38 SECTION 5.23. Sanctions, Etc 38 Facility 42 ARTICLE VI. 6 DEFAULTS 39 SECTION Section 6.01. Events of Default 39 SECTION 42 Section 6.02. Remedies 41 Cash Cover 44 ARTICLE VII. 7 THE AGENT 41 SECTION AGENTS Section 7.01. Appointment and Authorization 41 SECTION 46 Section 7.02. Agents and Affiliates 46 Section 7.03. Action by Agent 41 SECTION 7.03Agents 47 Section 7.04. Consultation with Experts 41 SECTION 7.0447 Section 7.05. Liability of Agent 41 SECTION 7.05Agents 47 Section 7.06. Indemnification 42 SECTION 7.0647 Section 7.07. Credit Decision 42 SECTION 7.0747 Section 7.08. Successor Agent 42 SECTION 7.08. Agent as Bank 43 SECTION Agents 48 Section 7.09. Distribution by Agent 43 SECTION Agents’ Fees 48 Section 7.10. Delinquent Banks 43 ARTICLE VIII. CHANGE IN CIRCUMSTANCES 44 SECTION 8.01. Additional Costs; Capital Adequacy 44 SECTION 8.02. Basis for Determining Interest Rate Inadequate or Unfair 45 SECTION 8.03. Illegality 46 SECTION 8.04. Base Rate Loans Substituted for Affected LIBOR Loans 46 SECTION 8.05. Replacement Banks 47 SECTION 8.06. Indemnity 47 SECTION 8.07. Change of Law 47 ARTICLE IX. MISCELLANEOUS 47 SECTION 9.01. Notices 47 SECTION 9.02. No Waivers 48 TABLE OF CONTENTS (continued) Page SECTION 9.03. Expenses; Indemnification 48 SECTION 9.04. Setoff 48 SECTION 9.05. Amendments and Waivers 49 SECTION 9.06. Successors and Assigns 49 SECTION 9.07. Governing Law; Submission to Jurisdiction 51 SECTION 9.08. WAIVER OF JURY TRIAL 52 SECTION 9.09. Confidential Information 52 SECTION 9.10. USA Patriot Act 53 SECTION 9.11. Miscellaneous 53 Schedules: Schedule 1 - Addresses for Notices, Lending Offices, Commitment Amounts and Commitment Percentages Exhibits: Exhibit A - Form of Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Notice of Conversion Exhibit D - Form of Borrowing Base Report Exhibit E - Form of Certificate of No Default Exhibit F - Form of Assignment and Acceptance Exhibit G - Form of Perfection Certificate CREDIT AGREEMENT CREDIT AGREEMENT, dated as of January 6, 2015, by and among NEXPOINT CAPITAL, INC., a Delaware corporation (the “Borrower”), the Banks (as hereinafter defined) party hereto from time to time and STATE STREET BANK AND TRUST COMPANY as agent for the Banks (in such capacity, the “Agent”). The parties hereto hereby agree as follows:Documentation Agents 48