INVESTMENT ADVISORY AGREEMENT INVESTMENT ADVISORY AGREEMENT made as of December 18, 2006, by and between Highland Capital Management, L.P., a Delaware limited partnership (the "Manager"), and Highland Floating Rate Advantage Fund, a Massachusetts...Investment Advisory Agreement • April 26th, 2007 • Highland Floating Rate Advantage Fund • Delaware
INVESTMENT ADVISORY AGREEMENT made as of December 18, 2006, by and between Highland Capital Management, L.P., a Delaware limited partnership (the "Manager"), and Highland Floating Rate Advantage Fund, a Massachusetts business trust (the "Fund"). WHEREAS, the Fund is engaged in business as a closed-end management investment company and is registered as such under the Investment Company Act of 1940, as amended (the "1940 Act"), and periodically offers to repurchase its shares in conformity with the provisions of Rule 23c-3 under the 1940 Act, which funds are generally referred to as "interval funds"; and WHEREAS the Manager is engaged principally in the business of rendering investment management services and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended; NOW, THEREFORE, WITNESSETH: That it is hereby agreed between the parties hereto as follows: SECTION 1. Appointment of Manager. The Fund hereby appoints the Manager to act as manager and inv
