Document:

EX-10.2

 Exhibit 10.2 

ADMINISTRATION AGREEMENT 

BETWEEN 
 BC PARTNERS
LENDING CORPORATION 
 AND 

BC PARTNERS MANAGEMENT LLC 

This Agreement (“Agreement”) is made as of April 23, 2018 by and between BC PARTNERS LENDING CORPORATION, a Maryland
corporation (the “Company”), and BC PARTNERS MANAGEMENT LLC, a Delaware limited liability company (the “Administrator”). 

WHEREAS, the Company is a newly organized closed-end management investment fund that intends to elect
to be treated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “Investment Company Act”); 

WHEREAS, the Company desires to retain the Administrator to provide administrative services to the Company in the manner and on the terms
hereinafter set forth; and 
 WHEREAS, the Administrator is willing to provide administrative services to the Company on the terms and
conditions hereafter set forth. 
 NOW, THEREFORE, in consideration of the premises and the covenants hereinafter contained and for other
good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Company and the Administrator hereby agree as follows: 
  

	1.	Duties of the Administrator 

 (a)    Employment of
Administrator. The Company hereby retains the Administrator to act as administrator of the Company, and to furnish, or arrange for others to furnish, the administrative services, personnel and facilities described below, subject to review by and
the overall control of the Board of Directors of the Company (the “Board”), for the period and on the terms and conditions set forth in this Agreement. The Administrator hereby accepts such retention and agrees during such period to
render, or arrange for the rendering of, such services and to assume the obligations herein set forth subject to the reimbursement of costs and expenses provided for below. The Administrator shall for all purposes herein be deemed to be an
independent contractor and shall, unless otherwise expressly provided or authorized herein, have no authority to act for or represent the Company in any way or otherwise be deemed an agent of the Company. 

(b)    Services. The Administrator shall perform (or oversee, or arrange for, the performance of) the
administrative services necessary for the operation of the Company. Without limiting the generality of the foregoing, the Administrator shall provide the Company with office facilities, equipment, clerical, bookkeeping and recordkeeping services and
such other services as the Administrator, subject to review by the Board, shall from time to time determine to be 

  
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necessary or useful to perform its obligations under this Agreement. The Administrator shall also, on behalf of the Company, conduct relations with custodians, depositories, transfer agents,
dividend disbursing agents, other stockholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable.
The Administrator shall make reports to the Board of its performance of its obligations hereunder and furnish advice and recommendations with respect to such other aspects of the business and affairs of the Company as it shall determine to be
desirable; provided that nothing herein shall be construed to require the Administrator to, and the Administrator shall not, in its capacity as Administrator pursuant to this Agreement, provide any advice or recommendation relating to the securities
and other assets that the Company should purchase, retain or sell or any other investment advisory services to the Company. The Administrator shall be responsible for the financial and other records that the Company is required to maintain under the
Investment Company Act or otherwise and shall prepare, print and disseminate reports to stockholders, and reports and other materials filed with the Securities and Exchange Commission (the “SEC”). The Administrator will provide on
the Company’s behalf significant managerial assistance to those portfolio companies that request such assistance. In addition, the Administrator will assist the Company in determining and publishing (as necessary or appropriate) the
Company’s net asset value and net asset value per share, overseeing the preparation and filing of the Company’s tax returns, and generally overseeing the payment of the Company’s expenses and the performance of administrative and
professional services rendered to the Company by others. For the avoidance of any doubt, the parties agree that the Administrator is authorized to enter into sub-administration agreements as the Administrator
determines necessary in order to carry out the services set forth in this paragraph, subject to the prior approval of the Company. 
  

	2.	Records 

 The Administrator agrees to maintain and keep all books, accounts and
other records of the Company that relate to activities performed by the Administrator hereunder and will maintain and keep such books, accounts and records in accordance with the Investment Company Act. In compliance with the requirements of Rule 31a-3 under the Investment Company Act, the Administrator agrees that all records which it maintains for the Company shall at all times remain the property of the Company, shall be readily accessible
during normal business hours, and shall be promptly surrendered upon the termination of the Agreement or otherwise on written request. The Administrator further agrees that all records which it maintains for the Company pursuant to Rule 31a-1 under the Investment Company Act will be preserved for the periods prescribed by Rule 31a-2 under the Investment Company Act unless any such records are earlier
surrendered as provided above. Records shall be surrendered in usable machine-readable form. The Administrator shall have the right to retain copies of such records subject to observance of its confidentiality obligations under this Agreement. 

 

	3.	Confidentiality 

 The parties hereto agree that each shall treat all information
provided by each party to the other regarding its business and operations. All confidential information provided by a party hereto, including nonpublic personal information (regulated pursuant to
Regulation S-P), shall be used by any other party hereto solely for the purpose of rendering services pursuant to this 

  
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Agreement and, except as may be required in carrying out this Agreement, shall not be disclosed to any third party, without the prior consent of such providing party. The foregoing shall not be
applicable to any information that is publicly available when provided or thereafter becomes publicly available other than through a breach of this Agreement, or that is required to be disclosed by any regulatory authority, any authority or legal
counsel of the parties hereto, by judicial or administrative process or otherwise by applicable law or regulation. 
  

	4.	Compensation; Allocation of Costs and Expenses 

 In full consideration of the
provision of the services of the Administrator, the Company shall reimburse the Administrator for the costs and expenses incurred by the Administrator in performing its obligations and providing personnel and facilities hereunder, it being
understood and agreed that, except as otherwise provided herein or in that certain Investment Advisory Agreement, by and between the Company and BC Partners Advisors L.P. (the “Adviser”), as amended from time to time (the
“Advisory Agreement”), the Administrator shall be solely responsible for the compensation of its employees and all overhead expenses of the Administrator (including rent, office equipment and utilities). 

The Company will bear all expenses of its operations and transactions, including (without limitation except as noted) those relating to: the
cost of its organization and any offerings; the cost of calculating its net asset value, including the cost of any third-party valuation services; the cost of effecting any sales and repurchases of the Common Stock and other securities; fees and
expenses payable under any dealer manager or placement agent agreements, if any; debt service and other costs of borrowings or other financing arrangements; costs of hedging; expenses, including travel expense, incurred by the Adviser, or members of
the Investment Team, or payable to third parties, performing due diligence on prospective portfolio companies and, if necessary, enforcing the Company’s rights; transfer agent and custodial fees; fees and expenses associated with marketing
efforts; federal and state registration fees, any stock exchange listing fees and fees payable to rating agencies; federal, state and local taxes; independent directors’ fees and expenses including certain travel expenses; costs of preparing
financial statements and maintaining books and records and filing reports or other documents with the SEC (or other regulatory bodies) and other reporting and compliance costs, including registration and listing fees, and the compensation of
professionals responsible for the preparation of the foregoing; the costs of any reports, proxy statements or other notices to stockholders (including printing and mailing costs), the costs of any stockholder or director meetings and the
compensation of personnel responsible for the preparation of the foregoing and related matters; commissions and other compensation payable to brokers or dealers; research and market data; fidelity bond, directors and officers errors and omissions
liability insurance and other insurance premiums; direct costs and expenses of administration, including printing, mailing, long distance telephone and staff; fees and expenses associated with independent audits, outside legal and consulting costs;
costs of winding up; costs incurred in connection with the formation or maintenance of entities or vehicles to hold the Company’s assets for tax or other purposes; extraordinary expenses (such as litigation or indemnification); and costs
associated with reporting and compliance obligations under the Investment Company Act and applicable federal and state securities laws. Notwithstanding anything to the contrary contained herein, the Company shall reimburse the Administrator (or its
affiliates) for an allocable portion of the compensation paid by the Administrator (or its affiliates) to the Company’s Chief Compliance Officer and Chief Financial Officer and their respective staffs (based on a percentage of time such
individuals devote, on an estimated basis, to the business affairs of the Company). 

  
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	5.	Limitation of Liability of the Administrator; Indemnification 

 The Administrator
(and its members, managers, officers, employees, agents, controlling persons and any other person or entity affiliated with it) shall not be liable to the Company for any action taken or omitted to be taken by the Administrator in connection with
the performance of any of its duties or obligations under this Agreement or otherwise as administrator for the Company and the Company shall indemnify, defend and protect the Administrator (and its officers, managers, partners, agents, employees,
controlling persons, members, and any other person or entity affiliated with the Administrator each of whom shall be deemed a third party beneficiary hereof) (collectively, the “Indemnified Parties”) and hold them harmless from and
against all damages, liabilities, costs and expenses (including reasonable attorneys’ fees and amounts reasonably paid in settlement) incurred by the Indemnified Parties in or by reason of any pending, threatened or completed action, suit,
investigation or other proceeding (including an action or suit by or in the right of the Company or its security holders) arising out of or otherwise based upon the performance of any of the Administrator’s duties or obligations under this
Agreement or otherwise as administrator for the Company. Notwithstanding the preceding sentence of this Section 5 to the contrary, nothing contained herein shall protect or be deemed to protect the Indemnified Parties against or entitle or be
deemed to entitle the Indemnified Parties to indemnification in respect of, any liability to the Company or its security holders to which the Indemnified Parties would otherwise be subject by reason of willful misfeasance, bad faith or gross
negligence in the performance of the Administrator’s duties or by reason of the reckless disregard of the Administrator’s duties and obligations under this Agreement (to the extent applicable, as the same shall be determined in accordance
with the Investment Company Act and any interpretations or guidance by the SEC or its staff thereunder). 
  

	6.	Activities of the Administrator 

 The services of the Administrator to the Company
are not to be deemed to be exclusive, and the Administrator and each affiliate is free to render services to others. It is understood that directors, officers, employees and stockholders of the Company are or may become interested in the
Administrator and its affiliates, as directors, officers, members, managers, employees, partners, stockholders or otherwise, and that the Administrator and directors, officers, members, managers, employees, partners and stockholders of the
Administrator and its affiliates are or may become similarly interested in the Company as stockholders or otherwise. 
  

	7.	Duration and Termination of this Agreement 

 (a)    This
Agreement shall become effective as of the first date above written. The provisions of Section 5 of this Agreement shall remain in full force and effect, and the Administrator shall remain entitled to the benefits thereof, notwithstanding any
termination of this Agreement. Further, notwithstanding the termination or expiration of this Agreement as aforesaid, the Administrator shall be entitled to any amounts owed under Section 4 through the date of termination or expiration and
Section 5 shall continue in force and effect and apply to the Administrator and its representatives as and to the extent applicable. This Agreement shall 

  
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continue in effect for two years from the date hereof, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least
annually by: 
 (i)    the vote of the Board, or by the vote of a majority of the outstanding voting
securities of the Company; and 
 (ii)    the vote of a majority of the Company’s directors who are
not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act) of any such party, in accordance with the requirements of the Investment Company Act. 

(b)    The Agreement may be terminated at any time, without the payment of any penalty, upon 60 days’ written
notice, by the vote of a majority of the outstanding voting securities of the Company, or by the vote of the Board or by the Administrator. 

(c)    This Agreement may not be assigned by a party without the consent of the other party; provided,
however, that the rights and obligations of the Company under this Agreement shall not be deemed to be assigned to a newly-formed entity in the event of the merger of the Company into, or conveyance of all of the assets of the Company to,
such newly-formed entity; provided, further, however, that the sole purpose of that merger or conveyance is to effect a mere change in the Company’s legal form into another limited liability entity. The provisions of
Section 5 of this Agreement shall remain in full force and effect, and the Administrator shall remain entitled to the benefits thereof, notwithstanding any termination of this Agreement. 

 

	8.	Amendments of this Agreement 

 This Agreement may be amended pursuant to a written
instrument by mutual consent of the parties. 
  

	9.	Governing Law 

 This Agreement shall be construed in accordance with the laws of
the State of New York and the applicable provisions of the Investment Company Act. To the extent the applicable laws of the State of New York, or any of the provisions herein, conflict with the provisions of the Investment Company Act, the latter
shall control. 
  

	10.	Entire Agreement 

 This Agreement contains the entire agreement of the parties and
supersedes all prior agreements, understandings and arrangements with respect to the subject matter hereof. 
  

	11.	Notices 

 Any notice under this Agreement shall be given in writing, addressed and
delivered or mailed, postage prepaid, to the other party at its principal office. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the
date first above written. 
  

			
	BC PARTNERS LENDING CORPORATION

 
			
		
	By:	 	 /s/ Edward Goldthorpe

	Name:	 	Edward Goldthorpe
	Title:	 	President and Chief Executive Officer

 
			
	
	BC PARTNERS MANAGEMENT LLC

 
			
		
	By:	 	 /s/ Justin Bateman

	Name:	 	Justin Bateman
	Title:	 	Managing Partner

  
 6EX-10.3

 Exhibit 10.3 

DIVIDEND REINVESTMENT PLAN 

OF 
 BC PARTNERS LENDING
CORPORATION 
 Effective as of April 23, 2018 

BC Partners Lending Corporation, a Maryland corporation (the “Company”), hereby adopts the following plan (the
“Plan”) with respect to cash dividends or distributions declared by its Board of Directors on shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”).

 1.    Unless a stockholder specifically elects to receive cash pursuant to paragraph 4 below, all cash dividends or other
distributions hereafter declared by the Company’s Board of Directors shall be reinvested by the Company in the Company’s Common Stock on behalf of each stockholder, and no action shall be required on such stockholder’s part to receive
such Common Stock. 
 2.    Such cash dividend or distribution shall be payable on such date or dates (each, a “Payment
Date”) as may be fixed from time to time by the Board of Directors to stockholders of record at the close of business on the record date(s) established by the Board of Directors for the cash dividend distribution or distribution
involved. 
 3.     With respect to each distribution pursuant to this Plan, the Board of Directors reserves the right, subject to the
provisions of the Investment Company Act of 1940, as amended, to issue new shares of Common Stock for the accounts of Participants (as defined below). The number of shares of Common Stock to be issued to a stockholder that has not elected to receive
its dividends in cash in accordance with paragraph 4 below (each, a “Participant”) shall be determined by dividing the total dollar amount of the distribution payable to such Participant by the net asset value per share of
the Company’s Common Stock as of the last day of the Company’s fiscal quarter immediately preceding the date such distribution was declared (the “Reference NAV”);
provided that in the event a distribution is declared on the last day of a fiscal quarter, the Reference NAV shall be deemed to be the net asset value per share of the Company’s Common Stock as of such day; provided further that the
number of shares to be issued to a Participant pursuant to the foregoing shall be rounded downward to the nearest whole number to avoid the issuance of fractional shares, it being understood that any fractional share otherwise issuable to a
Participant but for this proviso shall instead be paid to such Participant in cash as further provided in paragraph 5 below. 
 4.     A
stockholder may elect to receive any portion of its cash dividend distributions in cash. To exercise this option, such stockholder shall notify the Company and U.S. Bancorp Fund Services, LLC (referred to as the “Plan
Administrator”), in writing (using the form of notice set forth as an appendix to the Subscription Agreement signed by such stockholder or any other form of notice as distributed to such stockholder by the Company) so that such
notice is received by the Plan Administrator no later than 10 days prior to the record date fixed by the Board of Directors for the first distribution such stockholder wishes to receive in cash. Such election shall remain in effect until the
stockholder shall notify the Plan Administrator in writing of such 

 
stockholder’s desire to change its election, which notice shall be delivered to the Plan Administrator no later than 10 days prior to the record date fixed by the Board of Directors for the
first distribution for which such stockholder wishes its new election to take effect. 
 5.     Shares of Common Stock issued pursuant
to the Plan in connection with any cash dividend shall be issued to each Participant (i) in the event that the applicable Reference NAV has been approved by the Company’s Board of Directors (or a committee thereof) prior to the Payment
Date of such cash dividend, on the Payment Date or (ii) otherwise, promptly upon the date such approval has been provided by the Company’s Board of Directors. All shares of Common Stock issued pursuant to the Plan shall be issued in non-certificated form and shall be credited to such Participant on the books and records of the Company. Cash payable to a Participant in lieu of fractional shares pursuant to paragraph 3 shall be paid
contemporaneously with the issuance of such shares in connection with such cash dividend. 
 6.     The Plan Administrator will confirm
to each Participant each issuance of shares of Common Stock made to such Participant pursuant to the Plan as soon as practicable following the date of such issuance. 

7.    The Plan Administrator will forward to each Participant any Company-related proxy solicitation materials and each Company report or
other communication to stockholders. Any shares held by a Participant under the Plan will be voted in accordance with the instructions set forth on proxies returned by the Participant to the Company. 

8.    In the event that the Company makes available to its stockholders rights to purchase additional shares or other securities, the
shares of Common Stock held by the Plan Administrator for each Participant under the Plan will be added to any other shares held by the Participant in calculating the number of rights to be issued to the Participant. 

9.     The Plan Administrator’s service fee, if any, and expenses for administering the Plan will be paid for by the Company. There
will be no brokerage charges or other charges to stockholders who participate in the Plan. 
 10.   The Plan may be terminated by the Company upon
notice in writing mailed to each Participant at least 30 days prior to the effectiveness of such termination. Each Participant may terminate his, her or its account under the Plan by so notifying the Plan Administrator in writing U.S. Bancorp Fund
Services, LLC, 615 East Michigan Street, Milwaukee, WI 53202. Such termination shall be effective immediately if the Participant’s notice is received by the Plan Administrator not less than 10 days prior to any cash dividend or distribution
record date; otherwise, such termination will be effective only with respect to any subsequent cash dividend or distribution. 
 11.   These terms
and conditions may be amended or supplemented by the Company at any time. The amendment or supplement shall be deemed to be accepted by each Participant unless, prior to the effective date thereof, the Plan Administrator receives written notice of
the termination of his, her or its account under the Plan at least ten days prior to the effective date. Any such amendment or supplement may include an appointment by the Plan Administrator in its place and stead of a successor agent under the
terms and conditions agreed upon by the Company, with full power and authority to perform all or any of the acts to be performed by the Plan Administrator as agreed to by the Company. 

  
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 12.     The Plan Administrator will at all times act in good faith and use its best
efforts within reasonable limits to ensure its full and timely performance of all services to be performed by it under this Plan and to comply with applicable law, but assumes no responsibility and shall not be liable for loss or damage due to
errors unless such error is caused by the Plan Administrator’s negligence, bad faith or willful misconduct or that of its employees or agents. 
 13.
    These terms and conditions shall be governed by the laws of the State of New York, without regard to the conflicts of law principles thereof, to the extent such principles would require or permit the application of the laws
of another jurisdiction. 

  
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