Common use of Restrictions on Use of Adviser’s Name Clause in Contracts

Restrictions on Use of Adviser’s Name. The Sub-Adviser shall not use the name of the Trust, the Fund, the Adviser, “Franklin Square Holdings, L.P.” or “FS Investments” (or any combination or derivation thereof) in any material without the Adviser’s prior written approval (other than identifying the foregoing in lists of the Sub-Adviser’s clients and in required regulatory disclosures). The Sub-Adviser represents and warrants that it will not make, or cause or allow any of its affiliates to make, any oral or written statement to any third party that disparages, defames or reflects adversely upon the Trust, the Fund, the Adviser, Franklin Square Holdings, L.P. or FS Investments.

Restrictions on Use of Adviser’s Name. The Other than to refer to itself as a sub-adviser of the Fund and except as expressly permitted by this Agreement between the Sub-Adviser (or its affiliate) and the Adviser (or its affiliate), the Sub-Adviser shall not use the name of the Trust, the Fund, the Adviser, “Franklin Square Holdings, L.P.” or “FS Investments” (or any combination or derivation thereof) in any material without the Adviser’s prior written approval (other than identifying the foregoing in lists of the Sub-Adviser’s clients and in required regulatory disclosures)approval. The Sub-Adviser represents and warrants that it will not make, or cause or allow any of its affiliates to make, any oral or written statement to any third party that disparages, defames defames, or reflects adversely upon the Trust, the Fund, the Adviser, Franklin Square Holdings, L.P. or FS Investments.

Restrictions on Use of Adviser’s Name. The SubCo-Adviser shall not use the name of the Trust, the Fund, the Adviser, “Franklin Square Holdings, L.P.” or “FS Investments” (or any combination or derivation thereof) in any material without the Adviser’s prior written approval (other than identifying the foregoing in lists of the SubCo-Adviser’s clients and in required regulatory disclosures). The SubCo-Adviser represents and warrants that it will not make, or cause or allow any of its affiliates to make, any oral or written statement to any third party that disparages, defames or reflects adversely upon the Trust, the Fund, the Adviser, Franklin Square Holdings, L.P. or FS Investments.

Restrictions on Use of Adviser’s Name. The Sub-Adviser shall not use the name of the Trust, FS Multi-Strat, the Fund, the Adviser, “Franklin Square Holdings, L.P.” or “FS Investments” (or any combination or derivation thereof) in any material without the Adviser’s prior written approval (other than identifying the foregoing in lists of the Sub-Adviser’s clients and in required regulatory disclosures). The Sub-Adviser represents and warrants that it will not make, or cause or allow any of its affiliates to make, any oral or written statement to any third party that disparages, defames or reflects adversely upon the Trust, FS Multi- Strat, the Fund, the Adviser, Franklin Square Holdings, L.P. or FS Investments.

Restrictions on Use of Adviser’s Name. The SubCo-Adviser shall not use the name of the Trust, Real Asset, the Fund, the Adviser, “Franklin Square Holdings, L.P.” or “FS Investments” (or any combination or derivation thereof) in any material without the Adviser’s prior written approval (other than identifying the foregoing in lists of the SubCo-Adviser’s clients and in required regulatory disclosures). The SubCo-Adviser represents and warrants that it will not make, or cause or allow any of its affiliates to make, any oral or written statement to any third party that disparages, defames or reflects adversely upon the Trust, Real Asset, the Fund, the Adviser, Franklin Square Holdings, L.P. or FS Investments.