CARLYLE CREDIT INCOME FUND INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • July 17th, 2023 • Carlyle Credit Income Fund • New York
AGREEMENT dated as of July 14, 2023, by and between CARLYLE CREDIT INCOME FUND (the “Fund”), and CARLYLE GLOBAL CREDIT INVESTMENT MANAGEMENT L.L.C. (the “Adviser”).
Carlyle Global Credit Investment Management L.L.C. One Vanderbilt Avenue, Suite 3400 New York, NY 10017Letter Agreement • July 17th, 2023 • Carlyle Credit Income Fund
Carlyle Global Credit Investment Management L.L.C. (the “Adviser”) and Carlyle Credit Income Fund (the “Fund”) are parties to that certain Investment Advisory Agreement, dated as of July 14, 2023 (as may be amended from time to time, the “Investment Advisory Agreement”), pursuant to which the Fund is obligated to pay to the Adviser, among other things, a base management fee, calculated at the annualized rate of 1.75% of the Fund’s managed assets, and an income based incentive fee of 17.5% (together with the base management fee, the “Advisory Fees”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Investment Advisory Agreement.
One Vanderbilt Avenue • Suite 3400 New York • NY 10017 Tel (212)813-4979 EXPENSE LIMITATION AGREEMENTExpense Limitation Agreement • July 17th, 2023 • Carlyle Credit Income Fund
Carlyle Global Credit Investment Management L.L.C. (“CGCIM”), as investment adviser to Carlyle Credit Income Fund (the “Fund”) agrees on a monthly basis to irrevocably waive its base management fees and/or reimburse the Fund’s operating expenses (each such waiver or reimbursement, an “Expense Payment”) to the extent that the Fund’s annualized operating expenses in respect of the relevant month exceed 2.5% of the Fund’s average daily net assets (the “Expense Limitation”). This agreement (“Agreement”) shall commence on the date first set forth above. This Agreement shall continue in effect until ending on the earlier of (i) four quarters after the date of this Agreement or (ii) the date on which at least 75% of the Fund’s gross assets are invested in collateralized loan obligation equity and debt investments.
