EFTA Document EFTA01365439

(C) if only Subordinated Securities are then Outstanding, a Majority of the Subordinated Securities; provided, however, that, notwithstanding the foregoing, the Investment Manager, on behalf of the Issuer, may direct the Trustee to, and the Trustee shall in the manner directed, deliver assets in connection with the terms of any contractual arrangement entered into prior to the occurrence of an Event of Default or accept any Offer or tender offer made to all holders of any Collateral Oblig