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ENDORSEMENT/RIDER
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Effective
date of
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this
endorsement/rider: April 7, 2009
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FEDERAL
INSURANCE COMPANY
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Endorsement/Rider
No.
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1
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To
be attached to and
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form
a part of Bond No.
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82126585
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Issued
to: GSC INVESTMENT CORP.
DELETING
VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION
ENDORSEMENT
In
consideration of the premium charged, it is agreed that this Bond is amended as
follows:
1
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The
paragraph titled Other Property in Section 9, Valuation, is deleted in its
entirety.
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2
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The
third paragraph in Section 16, Change or Modification, is deleted in its
entirety and replaced with the following:
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If
this Bond is for a joint ASSURED, no change or modification which would
adversely affect the rights of the ASSURED shall be effective prior to
sixty (60) days after written notice has been furnished to all insured
Investment
Companies
and the Securities and Exchange Commission, Washington,
D.C., by the COMPANY.
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The
title and any headings in this endorsement/rider are solely for convenience and
form no part of the terms and conditions of coverage.
All
other terms, conditions and limitations of this Bond shall remain
unchanged.
17-02-2437
(12/2006) rev.
Page
1
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FEDERAL
INSURANCE COMPANY
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Endorsement
No:
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2
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Bond
Number:
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82126585
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NAME
OF ASSURED: GSC INVESTMENT CORP.
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TERMINATION-NONRENEWAL-NOTICE
ENDORSEMENT
It is
agreed that this Bond is amended as follows:
1
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By
adding to Section 13., Termination, the following:
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"Termination By The
Company
Bonds
In Effect For More Than Sixty (60) Days
If this
Bond has been in effect for more than sixty (60) days, or, if this Bond is a
renewal, the
COMPANY
may terminate by providing written notice of cancellation at least sixty (60)
days before the effective date
of
termination for at least one of the following reasons:
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1.
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Nonpayment
of premium;
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2.
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Discovery
of fraud or material misrepresentation in obtaining this Bond or in the
presentation of a
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claim
thereunder;
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3.
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Discovery
of willful or reckless acts or omissions or violation of any provision of
this Bond on the part of the ASSURED which substantially and materially
increases any hazard insured against, and which occurred subsequent to the
inception of the current BOND
PERIOD;
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4.
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Conviction
of the ASSURED of a crime arising out of acts increasing the hazard
insured against;
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5.
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Material
change in the risk which increases the risk of loss after insurance
coverage has been
issued
or renewed, except to the extent that the COMPANY should reasonably have
foreseen the change, or contemplated the risk when the contract was
written;
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6.
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Determination
by the Commissioner that the continuation of the Bond would jeopardize a
COMPANY'S solvency or would place the COMPANY in violation of the
insurance laws of any state;
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7.
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Determination
by the Commissioner that continuation of the present premium volume of the
COMPANY would jeopardize the COMPANY'S policyholders, creditors or the
public;
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8.
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Such
other reasons that are approved by the
Commissioner;
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9.
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Determination
by the Commissioner that the COMPANY no longer has adequate reinsurance to
meet the ASSUREDS needs;
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10.
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Substantial
breaches of contractual duties, conditions or warranties;
or
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11.
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Unfavorable
underwriting facts, specific to the ASSURED, existing that were not
present at the inception of the
Bond.
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ICAP
Bond
Form 17-02-1360 (Rev.
10-99)
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Page
1
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Bonds
In Effect Sixty (60) Days Or Less
If this
Bond has been in effect for sixty (60) days or less, and it is not a renewal
Bond, the COMPANY may terminate for any reason by providing written notice of
termination at least sixty (60) days before the effective date of
termination.
Notice
Of Termination
Notice
of termination under this Section shall be mailed or delivered, by certified
mail, return receipt provided by the United States Postal Service, to the
ASSURED and to the authorized agent or broker, if any, at least sixty (60) days
prior to the effective date of cancellation at the address shown on the
DECLARATIONS of this Bond.
If this
Bond is cancelled for nonpayment of premium, the COMPANY will mail or deliver,
by certified mail, return receipt provided by the United States Postal Service,
a written notice at least thirty (30) days before the effective date of
cancellation. The cancellation notice shall contain information regarding the
amount of premium due and the due date, and shall state the effect of nonpayment
by the due date. Cancellation shall not be effective if payment of the amount
due is made prior to the effective date of cancellation.
All
notice of cancellation shall state the reason(s) for cancellation.
There
is no liability on the part of, and no cause of action of any nature shall arise
against, the COMPANY, its authorized representatives, its employees, or any
firm, person or corporation furnishing to the COMPANY, information relating to
the reasons for cancellation or nonrenewal, for any statement made by them in
complying or enabling the COMPANY to comply with this Section, for the provision
of information pertaining thereto, or for statements made or evidence submitted
at any hearings conducted in connection therewith, if such information was
provided in good faith and without malice.
Notice
Of Nonrenewal
If the
COMPANY elects not to renew this Bond, the COMPANY shall mail or deliver written
notice, by certified mail, return receipt, provided by the United States Postal
Service, to the ASSURED, at his last known address, at least sixty (60) days
before the expiration date or before the anniversary date, if this Bond has been
written for a term of more than one (1) year. Such notice shall also be mailed
to the
ASSURED'S agent or broker, if any.
Such
notice shall contain all of the following:
c.
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Reason
for Cancellation;
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d.
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Expiration
Date of the Bond;
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e.
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Effective
Date and Hour of Cancellation.
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Notice
of nonrenewal shall not be required if the COMPANY or a COMPANY within the same
insurance group has offered to issue a renewal Bond, the ASSURED has obtained
replacement coverage or has agreed in writing to obtain replacement coverage,
the ASSURED has requested or agreed to nonrenewal, or the Bond is expressly
designated as nonrenewable.
ICAP
Bond
Form 17-02-1360 (Rev.
10-99)
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Page
2
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Return
Premium Calculations
Any unearned premiums which have been paid by
the ASSURED shall be refunded to the ASSURED on a pro rata basis if
terminated by the COMPANY or the ASSURED. The unearned premiums shall be
refunded to the ASSURED within forty-five (45) days of receipt of the
request for cancellation or the effective date of cancellation, whichever
is later.
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Conditional
Renewal
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If
the COMPANY offers or purports to renew the Bond, but on less favorable
terms or at higher rates, the new terms or higher premiums may take effect
on the renewal date, if the COMPANY mails or delivers by certified mail,
return receipt provided by the United States Postal Service, to the
ASSURED, notice of the new terms or premiums at least sixty (60) days
prior to the renewal date. If the COMPANY notifies the ASSURED within
sixty (60) days prior to the renewal date, the new terms or premiums do
not take effect until sixty (60) days after the notice is mailed or
delivered, in which case, the ASSURED may elect to cancel the renewal Bond
within the sixty (60) day period. If the COMPANY does not notify the
ASSURED of the new terms or premiums, the COMPANY shall continue the Bond
at the expiring terms and premiums until notice is given or until the
effective date of replacement coverage is obtained by the ASSURED,
whichever occurs first.â€
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2
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It
is further understood and agreed that for the purposes of Section 13.,
Termination, any occurrence listed in this Section shall be considered to
be a request by the ASSURED to immediately terminate this
Bond.
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This
Endorsement applies to loss discovered after 12:01 a.m. on April 7,
2009.
ALL
OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date:
June 2, 2009
ICAP
Bond
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Form
17-02-1360 (Rev. 10-99)
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Page
3
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Effective
date of
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this
endorsement: April 7, 2009
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FEDERAL
INSURANCE COMPANY
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Endorsement
No.:
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3
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To
be attached to and form a part of Bond
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Number:
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82126585
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Issued
to: GSC INVESTMENT CORP.
COMPLIANCE
WITH APPLICABLE TRADE SANCTION LAWS RIDER
It is agreed that this insurance does not apply to the extent that
trade or economic sanctions or other laws or regulations prohibit the coverage
provided by this insurance.
ALL
OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date:
June 2, 2009
Form
14-02-9228 (Ed. 4/2004)
Important Notice:
The
SEC Requires Proof of Your Fidelity Insurance Policy
Your
company is now required to file an electronic copy of your fidelity insurance
coverage (Chubb’s ICAP Bond policy) to the Securities and Exchange Commission
(SEC), according to rules adopted by the SEC on June 12, 2006.
Chubb
is in the process of providing your agent/broker with an electronic copy of your
insurance policy as well as instructions on how to submit this proof of fidelity
insurance coverage to the SEC. You can expect to receive this information from
your agent/broker shortly.
The
electronic copy of your policy is provided by Chubb solely as a convenience and
does not affect the terms and conditions of coverage as set forth in the paper
policy you receive by mail. The terms and conditions of the policy mailed to
you, which are the same as those set forth in the electronic copy, constitute
the entire agreement between your company and Chubb.
If you
have any questions, please contact your agent or broker.
Form
14-02-12160 (ed. 7/2006)
IMPORTANT NOTICE TO POLICYHOLDERS
All of
the members of the Chubb Group of Insurance companies doing business in the
United States (hereinafter “Chubb”) distribute their products through licensed
insurance brokers and agents (“producers”). Detailed information regarding the
types of compensation paid by Chubb to producers on US insurance transactions is
available under the Producer Compensation link located at the bottom of the page
at www.chubb.com, or by calling 1-866-588-9478. Additional information may be
available from your producer.
Thank
you for choosing Chubb.
10-02-1295
(ed. 6/2007)
POLICYHOLDER
DISCLOSURE
NOTICE OF
TERRORISM
INSURANCE COVERAGE
(for
policies with no terrorism exclusion or sublimit)
You are hereby
notified that, under the Terrorism Risk Insurance Act (the “Act”), effective
December 26, 2007, this policy makes available to you insurance for losses
arising out of certain acts of terrorism. Terrorism is defined as any act
certified by the Secretary of the Treasury, in concurrence with the Secretary of
State and the Attorney General of the United States, to be an act of terrorism;
to be a violent act or an act that is dangerous to human life, property or
infrastructure; to have resulted in damage within the United States, or outside
the United States in the case of an air carrier or vessel or the premises of a
United States Mission; and to have been committed by an individual or
individuals as part of an effort to coerce the civilian population of the United
States or to influence the policy or affect the conduct of the United States
Government by coercion.
You should know
that the insurance provided by your policy for losses caused by acts of
terrorism is partially reimbursed by the United States under the formula set
forth in the Act. Under this formula, the United States pays 85% of covered
terrorism losses that exceed the statutorily established deductible to be paid
by the insurance company providing the coverage.
However, if
aggregate insured losses attributable to terrorist acts certified under the Act
exceed $100 billion in a Program Year (January 1 through December 31), the
Treasury shall not make any payment for any portion of the amount of such losses
that exceeds $100 billion.
10-02-1281
(Ed. 1/2003)
If aggregate insured losses attributable to terrorist acts certified
under the Act exceed $100 billion in a Program Year (January 1 through December
31) and we have met our insurer deductible under the Act, we shall not be liable
for the payment of any portion of the amount of such losses that exceeds $100
billion, and in such case insured losses up to that amount are subject to pro
rata allocation in accordance with procedures established by the Secretary of
the Treasury.
The portion of your
policy’s annual premium that is attributable to insurance for such acts of
terrorism is: $
-0-.
If
you have any questions about this notice, please contact your agent or
broker.
10-02-1281
(Ed. 1/2003)
Exhibit
II
RESOLVED, that,
after due consideration of all relevant factors including, but not limited to,
the value of the aggregate assets of the Corporation to which any such covered
person may have access, the type and terms of the arrangements made for the
custody and safekeeping of such assets and the nature of the securities in the
Corporation's portfolio, the fidelity bond, as presented at the meeting,
insuring the Corporation for covered acts or omissions of the Board
and Officers of the Corporation in accordance with the requirements of Rule 17g-
1 under the 1940 Act are reasonable in form and amount;
FURTHER RESOLVED,
that the payment by the Corporation of the premium for coverage under the
fidelity bond, in the amount described at this meeting is approved;
FURTHER RESOLVED,
that the Manager is designated as the party responsible for making all filings
with the SEC and giving all notices on behalf of the Corporation with
respect to such bond required by paragraph (g) of Rule 17g-1 under the 1940
Act.