Advisory Agreement), wherein Corporation will engage Adviser to act as the investment adviser to the Corporation and WHEREAS, the Corporation is entering into an investment advisory and management agreement with Adviser (the Newly organized closed-end management investment company that has filed notice with the Securities and Exchange Commission that it intends to elect to be treated as a business development company under the Investment Company Act of 1940 (the Territory) for investment management, investment consultation and investment advisory services. WHEREAS, Adviser is the owner of the trade name PENNANTPARK (the Licensed Mark) and has filed an application to register the mark in the United States of America (the Licensor or Adviser), and PennantPark Investment Corporation, a corporation organized under the laws of the State of Maryland ( Corporation) (each a party, and collectively, Agreement) is made and effective as of March, 2007 (the Effective Date), by and between PennantPark Investment Advisers, LLC a Delaware limited liability company (the
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