XAI Octagon Floating Rate & Alternative Income Term Trust : Material Agreement - Form 8-K
October 10, 2023 at 06:40 am EDT
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Item 1.01.
Entry into a Material Definitive Agreement
XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT) (the "Trust") has entered into an Amended and Restated Services Agreement (the "Services Agreement") with PINE Advisor Solutions, LLC ("PINE"), amended and restated effective as of October 1, 2023, pursuant to which PINE provides Chief Financial Officer and Chief Compliance Officer services to the Trust, and qualified employees of PINE serve as Chief Financial Officer and Treasurer of the Trust and Chief Compliance Officer of the Trust. Notwithstanding the Services Agreement, the designations of the Chief Financial Officer and Treasurer of the Trust and the Chief Compliance Officer of the Trust must be approved by the Board of Trustees of the Trust (the "Board"), including, in the case of the Chief Compliance Officer, a majority of the trustees who are not "interested persons," as that term is defined in section 2(a)(19) of the Investment Company Act of 1940, as amended, of the Trust or its investment adviser. Pursuant to the Services Agreement, the Trust pays PINE an annual fee, payable monthly, and reimburses certain out-of-pocket expenses. PINE's principal business address is 501 S. Cherry Street, Suite 1090, Denver, Colorado 80246.
PINE replaced the Trust's prior Chief Compliance Officer services provider, ALPS Fund Services, Inc. ("ALPS") and accordingly, the Trust's Chief Compliance Officer Services Agreement with ALPS (the "ALPS Agreement") was terminated effective October 1, 2023. With respect to the Chief Compliance Officer services, the Services Agreement is materially similar to the ALPS Agreement except with respect to the fees due, effective date and parties to the agreements.
The foregoing description of the Services Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Services Agreement filed with this report as Exhibit 10.1 and incorporated herein by reference.
XAI Octagon Floating Rate & Alternative Income Term Trust published this content on 10 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2023 10:39:25 UTC.
XAI Octagon Floating Rate & Alternative Income Trust (the Trust) is a diversified, closed-end management investment company. The Trust's investment objective is to seeks attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust invests in a dynamically managed portfolio of floating-rate credit instruments and other structured credit investments within the private markets. Under normal market conditions, the Trust will invest at least 80% of managed assets in senior secured loans, collateralized loan obligation (CLO) debt and CLO equity. XA Investments LLC serves as the investment adviser to the Trust. The Trustâs sub-adviser is Octagon Credit Investors, LLC.
XAI OCTAGON FLOATING RATE & ALTERNATIVE INCOME TRUST 
