Document:

Sale and Contribution Agreement

 Exhibit 10.2 
 EXECUTION COPY 
  
 SALE AND CONTRIBUTION AGREEMENT 
 by and between 

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.,  
 as the Seller 
 and 

HERCULES CAPITAL FUNDING 2012-1 LLC, 
 as the Trust Depositor 
 Dated as of December 19, 2012 

 
  
 Hercules Capital Funding Trust 2012-1 
 Asset-Backed Notes 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I          DEFINITIONS
	  	 	1	  
			
	 Section 1.01
	  	 Definitions.
	  	 	1	  
	 Section 1.02
	  	 Other Terms
	  	 	3	  
	 Section 1.03
	  	 Computation of Time Periods.
	  	 	3	  
	 Section 1.04
	  	 Interpretation.
	  	 	3	  
	 Section 1.05
	  	 References.
	  	 	4	  
	 Section 1.06
	  	 Calculations.
	  	 	4	  
		
	 ARTICLE II         TRANSFERS
	  	 	4	  
			
	 Section 2.01
	  	 Transfer of Loan Assets.
	  	 	4	  
	 Section 2.02
	  	 Conditions to Transfer of Loan Assets to the Trust Depositor.
	  	 	6	  
	 Section 2.03
	  	 Acceptance by the Trust Depositor.
	  	 	7	  
	 Section 2.04
	  	 Conveyance of Substitute Loans.
	  	 	7	  
	 Section 2.05
	  	 [Reserved].
	  	 	9	  
	 Section 2.06
	  	 Release of Excluded Amounts.
	  	 	9	  
	 Section 2.07
	  	 Delivery of Documents in the Loan File; Recording of Assignments of Mortgage.
	  	 	9	  
		
	 ARTICLE III       REPRESENTATIONS AND WARRANTIES
	  	 	10	  
			
	 Section 3.01
	  	 Representations and Warranties Regarding the Seller.
	  	 	10	  
	 Section 3.02
	  	 Representations and Warranties Regarding Each Loan and as to Certain Loans in the Aggregate.
	  	 	14	  
	 Section 3.03
	  	 [Reserved].
	  	 	14	  
	 Section 3.04
	  	 Representations and Warranties Regarding the Required Loan Documents.
	  	 	15	  
	 Section 3.05
	  	 [Reserved].
	  	 	15	  
	 Section 3.06
	  	 Representations and Warranties Regarding the Trust Depositor.
	  	 	15	  
		
	 ARTICLE IV       PERFECTION OF TRANSFER AND PROTECTION OF SECURITY
INTERESTS
	  	 	17	  
			
	 Section 4.01
	  	 Custody of Loans.
	  	 	17	  
	 Section 4.02
	  	 Filing.
	  	 	17	  
	 Section 4.03
	  	 Changes in Name, Organizational Structure or Location.
	  	 	17	  
	 Section 4.04
	  	 Costs and Expenses.
	  	 	17	  
	 Section 4.05
	  	 Sale Treatment.
	  	 	18	  
	 Section 4.06
	  	 Separateness from Trust Depositor.
	  	 	18	  
		
	 ARTICLE V         COVENANTS OF THE ORIGINATOR
	  	 	18	  
			
	 Section 5.01
	  	 Corporate Existence.
	  	 	18	  
	 Section 5.02
	  	 [Reserved].
	  	 	18	  
	 Section 5.03
	  	 Security Interests.
	  	 	18	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 Section 5.04
	  	 Compliance with Law.
	  	 	18	  
	 Section 5.05
	  	 Liability of Seller.
	  	 	19	  
	 Section 5.06
	  	 Limitation on Liability of Seller and Others.
	  	 	19	  
	 Section 5.07
	  	 Reserved.
	  	 	19	  
	 Section 5.08
	  	 Merger or Consolidation of Seller.
	  	 	19	  
	 Section 5.09
	  	 Delivery of Collections.
	  	 	19	  
	 Section 5.10
	  	 Underlying Custodial Agreements.
	  	 	19	  
		
	 ARTICLE VI       REMEDIES UPON MISREPRESENTATION
	  	 	20	  
			
	 Section 6.01
	  	 Repurchases of, or Substitution for, Loans for Breach of Representations and Warranties.
	  	 	20	  
	 Section 6.02
	  	 Reassignment of Repurchased or Substituted Loans.
	  	 	20	  
		
	 ARTICLE VII     INDEMNIFICATION BY THE ORIGINATOR
	  	 	21	  
			
	 Section 7.01
	  	 Indemnification.
	  	 	21	  
	 Section 7.02
	  	 Liabilities to Obligors.
	  	 	21	  
	 Section 7.03
	  	 Operation of Indemnities.
	  	 	21	  
		
	 ARTICLE VIII    MISCELLANEOUS
	  	 	21	  
			
	 Section 8.01
	  	 Amendment.
	  	 	21	  
	 Section 8.02
	  	 Governing Law.
	  	 	23	  
	 Section 8.03
	  	 Notices.
	  	 	23	  
	 Section 8.04
	  	 Severability of Provisions.
	  	 	26	  
	 Section 8.05
	  	 Third Party Beneficiaries.
	  	 	26	  
	 Section 8.06
	  	 Counterparts.
	  	 	26	  
	 Section 8.07
	  	 Headings.
	  	 	26	  
	 Section 8.08
	  	 No Bankruptcy Petition; Disclaimer.
	  	 	26	  
	 Section 8.09
	  	 Jurisdiction.
	  	 	26	  
	 Section 8.10
	  	 Prohibited Transactions with Respect to the Issuer.
	  	 	27	  
	 Section 8.11
	  	 No Partnership.
	  	 	27	  
	 Section 8.12
	  	 Successors and Assigns.
	  	 	27	  
	 Section 8.13
	  	 Duration of Agreement.
	  	 	27	  
	 Section 8.14
	  	 Limited Recourse.
	  	 	27	  
			
	 Exhibit A
	  	 Form of Assignment
	  	 	A-1	  
			
	 Schedule A
	  	 2012-1 Loans
	  	 	S-B-1	  

  
 -ii-

 SALE AND CONTRIBUTION AGREEMENT 

THIS SALE AND CONTRIBUTION AGREEMENT, dated as of December 19, 2012 (as amended, modified, restated, waived, or supplemented
from time to time, this “Agreement”), is between HERCULES TECHNOLOGY GROWTH CAPITAL, INC., a Maryland corporation (together with its successors and assigns, “Hercules,” and in its capacity as originator, together
with its successors and assigns, the “Seller”) and HERCULES CAPITAL FUNDING 2012-1 LLC, a Delaware limited liability company (together with its successors and assigns, the “Trust Depositor”). 

WHEREAS, in the regular course of its business, the Seller originates and/or otherwise acquires Loans; 

WHEREAS, the Trust Depositor desires to acquire the 2012-1 Loans (as defined herein) from the Seller and may acquire from time to
time thereafter certain Substitute Loans; 
 WHEREAS, it is a condition to the Trust Depositor’s acquisition of the
2012-1 Loans and any Substitute Loans from the Seller that the Seller make certain representations, warranties and covenants regarding the 2012-1 Loan Assets for the benefit of the Trust Depositor as well as Hercules Capital Funding Trust 2012-1, a
Delaware statutory trust (the “Issuer”); 
 WHEREAS, on the Closing Date, the Trust Depositor will
purchase and accept assignment of the 2012-1 Loan Assets and certain other assets from the Seller as provided herein; and 

WHEREAS, on the Closing Date, the Trust Depositor will sell, convey and assign all its right, title and interest in the 2012-1
Loan Assets, to the Issuer, pursuant to a Sale and Servicing Agreement, dated as of the date hereof (as amended, modified, restated, replaced, waived, substituted, supplemented or extended from time to time, the “Sale and Servicing
Agreement”), among Hercules, as the seller and the servicer, the Trust Depositor, as the trust depositor, the Issuer, as the issuer, and U.S. Bank National Association, as the trustee. 

NOW, THEREFORE, based upon the above recitals, the mutual promises and agreements contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 

 

	 	Section 1.01	Definitions. 

Capitalized terms used but not defined in this Agreement shall have the meanings attributed to such terms in the Sale and Servicing
Agreement, unless the context otherwise requires. In addition, as used herein, the following defined terms, unless the context otherwise requires, shall have the following meanings: 
 “2012-1 Loan Assets” means any assets acquired by the Trust Depositor from the Seller on the Closing Date pursuant to Section 2.01, which assets shall include the
Seller’s right, title and interest in the following: 
 (a) the 2012-1 Loans, and all monies due, to become due or paid in
respect thereof accruing on and after the Cutoff Date and all Insurance Proceeds, Liquidation Proceeds and other recoveries thereon, in each case as they arise after the Cutoff Date; 

 (b) all security interests and Liens and Related Property subject thereto from time to time
purporting to secure payment by Obligors under such 2012-1 Loans; 
 (c) all guaranties, indemnities and warranties, and other
agreements or arrangements of whatever character from time to time supporting or securing payment of such 2012-1 Loans; 
 (d)
the Transaction Accounts, together with all cash and investments in each of the foregoing; 
 (e) all collections and records
(including Computer Records) with respect to the foregoing; 
 (f) all documents relating to the applicable Loan Files; and

 (g) all income, payments, proceeds and other benefits of any and all of the foregoing, including but not limited to, all
accounts, cash and currency, chattel paper, electronic chattel paper, tangible chattel paper, copyrights, copyright licenses, equipment, fixtures, general intangibles, instruments, commercial tort claims, deposit accounts, inventory, investment
property, letter of credit rights, software, supporting obligations, accessions, and other property consisting of, arising out of, or related to the foregoing, but excluding any Excluded Amounts with respect thereto. 

“2012-1 Loans” means those Loans listed on Schedule A hereto, which Loans shall be conveyed to the Trust Depositor on the Closing
Date. 
 “Indemnified Party” shall have the meaning provided in Section 7.01. 

“Ineligible Loan” shall have the meaning provided in Section 6.01. 
 “Loan” means an individual loan to an Obligor, or any portion thereof, made by the Seller. 
 “Loan Assets” means, collectively and as applicable, the 2012-1 Loan Assets and the Substitute Loan Assets, as applicable. 
 “Substitute Loan Assets” means any assets acquired by the Trust Depositor in connection with a substitution of one or more Substitute Loans pursuant to Section 2.04, which
assets shall include the Seller’s right, title and interest in the following: 
 (a) the Substitute Loans listed in the
related Subsequent List of Loans and all monies due, to become due or paid in respect thereof accruing on and after the applicable Substitute Loan Cutoff Date and all Insurance Proceeds, Liquidation Proceeds and other recoveries thereon, in each
case as they arise after the applicable Substitute Loan Cutoff Date; 

  
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 (b) all security interests and Liens and Related Property subject thereto from time to time
purporting to secure payment by Obligors under such Loans; 
 (c) all guaranties, indemnities and warranties, and other
agreements or arrangements of whatever character from time to time supporting or securing payment of such Loans; 
 (d) all
collections and records (including Computer Records) with respect to the foregoing; 
 (e) all documents relating to the
applicable Loan Files; and 
 (f) all income, payments, proceeds and other benefits of any and all of the foregoing, including
but not limited to, all accounts, cash and currency, chattel paper, electronic chattel paper, tangible chattel paper, copyrights, copyright licenses, equipment, fixtures, general intangibles, instruments, commercial tort claims, deposit accounts,
inventory, investment property, letter of credit rights, software, supporting obligations, accessions, and other property consisting of, arising out of, or related to the foregoing, but excluding any Excluded Amounts with respect thereto.

  

	 	Section 1.02	Other Terms 

 All
accounting terms used but not specifically defined herein shall be construed in accordance with generally accepted accounting principles in the United States. The symbol “$” shall mean the lawful currency of the United States of America.
All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. 
  

	 	Section 1.03	Computation of Time Periods. 

 Unless otherwise stated in this Agreement, in the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including,” the words
“to” and “until” each mean “to but excluding,” and the word “within” means “from and excluding a specified date and to and including a later specified date.” 

 

	 	Section 1.04	Interpretation. 

In this Agreement, unless a contrary intention appears: 
 (a) the singular number includes the plural number and vice versa; 
 (b)
reference to any Person includes such Person’s successors and assigns but, if applicable, only if such successors and assigns are permitted by the Transaction Documents; 
 (c) reference to any gender includes each other gender; 

  
 3 

 (d) reference to day or days without further qualification means calendar days; 

(e) unless otherwise stated, reference to any time means New York, New York time; 

(f) references to “writing” include printing, typing, lithography, electronic or other means of reproducing words in a visible
form; 
 (g) reference to any agreement (including any Transaction Document), document or instrument means such agreement,
document or instrument as amended, modified, supplemented, replaced, restated, waived or extended and in effect from time to time in accordance with the terms thereof and, if applicable, the terms of the other Transaction Documents, and reference to
any promissory note includes any promissory note that is an extension or renewal thereof or a substitute or replacement therefor; and 
 (h) reference to any Applicable Law means such Applicable Law as amended, modified, codified, replaced or reenacted, in whole or in part, and in effect from time to time, including rules and regulations
promulgated thereunder and reference to any Section or other provision of any Applicable Law means that provision of such Applicable Law from time to time in effect and constituting the substantive amendment, modification, codification, replacement
or reenactment of such Section or other provision. 
  

	 	Section 1.05	References. 

 All
section references (including references to the Preamble), unless otherwise indicated, shall be to Sections (and the Preamble) in this Agreement. 
  

	 	Section 1.06	Calculations. 

Except as otherwise provided herein, all interest rate and basis point calculations hereunder will be made on the basis of a 360 day year
and the actual days elapsed in the relevant period and will be carried out to at least three decimal places. 
 ARTICLE II

 TRANSFERS 
  

	 	Section 2.01	Transfer of Loan Assets. 

 (a) The Seller shall sell, assign and convey Loan Assets to the Trust Depositor pursuant to the terms and provisions hereof. 
 (b) Subject to and upon the terms and conditions set forth herein, the Seller hereby sells, transfers, assigns, sets over and otherwise conveys to the Trust Depositor, for a purchase price consisting of
$125,254,550.74 in cash, all the right, title and interest of the Seller in and to the 2012-1 Loan Assets. 
 To the extent the
purchase price paid to the Seller for any Loan Assets is less than the fair market value of such Loan Assets, the difference between such fair market value and such 

  
 4 

 
purchase price shall be deemed to be a capital contribution made by the Seller to the Trust Depositor on the Closing Date in the case of the 2012-1 Loans and as of the related Substitute Loan
Cutoff Date in the case of any Substitute Loans. For all purposes of this Agreement, any contributed Loan Assets shall be treated the same as Loan Assets sold for cash, including without limitation for purposes of Section 6.01.

 (c) The Seller and the Trust Depositor each acknowledge with respect to itself that the representations and warranties of the
Seller in Sections 3.01, 3.02 and 3.04 hereof and of the Trust Depositor in the Sale and Servicing Agreement and in Section 3.06 hereof will run to and be for the benefit of the Issuer and the Trustees, and the
Issuer and the Trustees may enforce directly (without joinder of the Trust Depositor when enforcing against the Seller) the repurchase obligations of the Seller or the Trust Depositor, as applicable, with respect to breaches of such representations
and warranties that materially and adversely affect the interest of any Noteholder as set forth in the Sale and Servicing Agreement or in this Agreement. 
 (d) The sale, transfer, assignment, set-over and conveyance of the Loan Assets by the Seller to the Trust Depositor pursuant to this Agreement does not constitute and is not intended to result in a
creation or an assumption by the Trust Depositor of any obligation of the Seller in connection with the Loan Assets, or any agreement or instrument relating thereto, including, without limitation, (i) any obligation to any Obligor relating to
any unfunded commitment from the Seller, (ii) any taxes, fees, or other charges imposed by any Governmental Authority and (iii) any insurance premiums that remain owing with respect to any Loan Asset at the time such Loan Asset is sold
hereunder. Without limiting the foregoing, (x) the Trust Depositor does not assume any obligation to purchase any additional notes or loans under agreements governing the Loan Assets and (y) the sale, transfer, assignment, set-over and
conveyance of the Loan Assets by the Seller to the Trust Depositor pursuant to this Agreement does not constitute and is not intended to result in a creation or an assumption by the Trust Depositor or the Issuer of any obligation of the Seller as
lead agent, collateral agent or paying agent under any Agented Loan or Co-Agented Loan. 
 (e) The Seller and the Trust
Depositor intend and agree that (i) the transfer of the Loan Assets by the Seller to the Trust Depositor hereunder and the transfer of the Loan Assets by the Trust Depositor to the Issuer under the Sale and Servicing Agreement are each intended
to be an absolute sale, conveyance and transfer of ownership of the applicable Loan Assets, as the case may be, rather than the mere granting of a security interest to secure a borrowing and (ii) such Loan Assets shall not be part of the
Seller’s or the Trust Depositor’s estate in the event of a filing of a bankruptcy petition or other action by or against such Person under any Insolvency Law. In the event, however, that notwithstanding such intent and agreement, such
transfers are deemed to be a mere granting of a security interest to secure indebtedness, the Seller shall be deemed to have granted (and as of the Closing Date hereby grants) to the Trust Depositor and the Trust Depositor shall be deemed to have
granted and assigned (and as of the Closing Date hereby grants and assigns) to the Issuer, as the case may be, a security interest in all right, title and interest of the Seller or of the Trust Depositor, respectively, in such Loan Assets, and this
Agreement shall constitute a security agreement under Applicable Law, securing the repayment of the purchase price paid hereunder, the obligations and/or interests represented by the Securities, in the order and priorities, and subject to the other
terms and conditions of, this Agreement, the Sale and Servicing Agreement, the Indenture and the Trust Agreement, together with such other obligations or interests as may arise hereunder and thereunder in favor of the parties hereto and thereto.

  
 5 

 (f) If any such transfer of the Loan Assets is deemed to be the mere granting of a security
interest to secure a borrowing, the Trust Depositor may, to secure the Trust Depositor’s own borrowing under the Sale and Servicing Agreement (to the extent that the transfer of the Loan Assets thereunder is deemed to be a mere granting of a
security interest to secure a borrowing), repledge and reassign (i) all or a portion of the Loan Assets pledged to the Trust Depositor by the Seller and with respect to which the Trust Depositor has not released its security interest at the
time of such pledge and assignment, and (ii) all proceeds thereof. Such repledge and reassignment may be made by the Trust Depositor with or without a repledge and reassignment by the Trust Depositor of its rights under any agreement with the
Seller, and without further notice to or acknowledgment from the Seller. The Seller waives, to the extent permitted by Applicable Law, all claims, causes of action and remedies, whether legal or equitable (including any right of setoff), against the
Trust Depositor or any assignee of the Trust Depositor relating to such action by the Trust Depositor in connection with the transactions contemplated by this Agreement and the other Transaction Documents. 

(g) The Seller and the Trust Depositor acknowledge and agree that, solely for administrative convenience, any assignment agreement
required to be executed and delivered in connection with the transfer of a 2012-1 Loan or Substitute Loan in accordance with the terms of related Underlying Loan Agreements may reflect that the Seller or any Affiliate thereof is assigning such
2012-1 Loan or Substitute Loan directly to the Issuer. Nothing in such assignment agreements shall be deemed to impair the transfers of the Loan Assets by the Seller to the Trust Depositor in accordance with the terms of this Agreement and the
subsequent transfer of the Loan Assets by the Trust Depositor to the Issuer in accordance with the terms of the Sale and Servicing Agreement. 
  

	 	Section 2.02	Conditions to Transfer of Loan Assets to the Trust Depositor. 

 On or before the Closing Date, the Seller shall deliver or cause to be delivered to the Trust Depositor, the Owner Trustee and the Trustee each of the documents, certificates and other items as follows:

 (a) a certificate of an officer of the Seller substantially in the form of Exhibit C to the Sale and Servicing
Agreement; 
 (b) copies of resolutions of Hercules, as Seller and Servicer, approving the execution, delivery and performance
of this Agreement, the Transaction Documents to which it is a party and the transactions contemplated hereunder and thereunder, certified in each case by the Secretary or an Assistant Secretary of Hercules; 

(c) officially certified evidence dated within 30 days of the Closing Date of due formation and good standing of the Seller under the
laws of the State of Delaware; 
 (d) the initial List of Loans, certified by an officer of the Seller, together with an
Assignment with respect to the 2012-1 Loan Assets substantially in the form of Exhibit A, attached hereto (along with the delivery of any instruments and Loan Files as required under Section 2.07); 

  
 6 

 (e) a letter from Pricewaterhouse Coopers LLP, a Delaware limited liability partnership or
another nationally recognized accounting firm, addressed to the Seller and the Trust Depositor (with a copy to the Trustee and the Rating Agency), stating that such firm has reviewed a sample of the 2012-1 Loans and performed specific procedures for
such sample with respect to certain loan terms and that identifies those 2012-1 Loans that do not conform; 
 (f) a UCC-1
financing statement, naming the Seller as seller or debtor, naming the Trust Depositor as purchaser or secured party and describing the Loan Assets being sold by it to the Trust Depositor as collateral, which financing statement shall be filed on
the Closing Date with the office of the Department of Assessments and Taxation of the State of Maryland and in such other locations as the Trust Depositor shall have required; 
 (g) an Officer’s Certificate listing the Servicer’s Servicing Officers; 

(h) a fully executed copy of each of the Transaction Documents 
 (i) except with respect to (i) Agented Loans, Co-Agented Loans, Third Party Agented Loans and Participated Loans where the Seller (or a wholly-owned subsidiary of the Seller) receives payments on
behalf of or as agent for the other lenders thereunder or where payments thereunder are made directly to such other lenders on behalf of or as agent for the Seller (or a wholly-owned subsidiary of the Seller) and (ii) Loans described in
Section 7.01(d) of the Sale and Servicing Agreement, the Servicer shall have notified and directed the Obligor with respect to each such Loan to make all payments on the Loans, whether by check, wire transfer, ACH or otherwise, directly
to the Lockbox Account; and 
 (j) the Servicer shall have notified and directed each of Hercules’s co-lenders under
Co-Agented Loans and Third Party Agented Loans that receive payments on behalf of the Seller, to transfer such payments received from the Obligors with respect to such Loans to the Lockbox Account within one (1) Business Day of receipt of such
payments by such co-lender. 
  

	 	Section 2.03	Acceptance by the Trust Depositor. 

 On the Closing Date, if the conditions set forth in Section 2.02 have been satisfied, the Seller shall deliver, on behalf of the Trust Depositor, to the Trustee the 2012-1 Loan Assets and such
delivery to and acceptance by the Trustee shall be deemed to be delivery to and acceptance by the Trust Depositor. 
  

	 	Section 2.04	Conveyance of Substitute Loans. 

 (a) With respect to any Substitute Loans to be conveyed to the Issuer by the Trust Depositor pursuant to Section 2.04 and Section 2.06 of the Sale and Servicing Agreement, the
Seller hereby sells, transfers, assigns, sets over and otherwise conveys to the Trust Depositor, without recourse other than as expressly provided herein (and the Trust Depositor shall purchase through cash payment and/or by exchange of one or more
related Loans released by the Issuer to the Trust Depositor on the related Substitute Loan Cutoff Date), all the right, title and interest of the Seller in and to such Substitute Loans and Related Property. 

  
 7 

 The purchase price may equal, exceed or be less than the fair market value of such
Substitute Loan as of the related Substitute Loan Cutoff Date, plus in each case accrued interest thereon. To the extent the purchase price of any Substitute Loan is less than the fair market value thereof, the Seller will be deemed to have made a
capital contribution with respect to such excess to the Trust Depositor. In the event that the Trust Depositor is no longer the sole Certificateholder, the Trust Depositor will obtain the approval of an independent pricing advisor prior to receiving
any Substitute Loan from the Seller. 
 (b) [Reserved]. 

(c) The Seller shall transfer to the Trust Depositor hereunder the applicable Substitute Loans and Related Property only upon the
satisfaction of each of the following conditions on or prior to the related Substitute Loan Cutoff Date (in addition to the conditions set forth in Section 2.09 of the Sale and Servicing Agreement): 

(i) the Seller shall have provided the Trust Depositor with timely notice of such substitution, which shall be delivered
no later than 11:00 a.m. on the related Substitute Loan Cutoff Date; 
 (ii) there shall have occurred, with
respect to each such Substitute Loan, a corresponding Substitution Event with respect to one or more Loans then in the Collateral; 
 (iii) the Seller and the Trust Depositor shall have delivered to the Issuer and the Trustee a Subsequent List of Loans listing the applicable Substitute Loans and an assignment agreement as required by
the related Underlying Loan Agreement indicating that the Issuer is the holder of the related Substitute Loan; 

(iv) the Seller shall have deposited or caused to be deposited in the Collection Account all Collections received by it
with respect to the applicable Substitute Loans on and after the related Substitute Loan Cutoff Date; 
 (v) each
of the representations and warranties made by the Seller pursuant to Sections 3.02 and 3.04 applicable to the Substitute Loans shall be true and correct as of the related Substitute Loan Cutoff Date; and 

(vi) the Seller shall bear all incidental transaction costs incurred in connection with a substitution effected pursuant
to this Agreement and shall, at its own expense, on or prior to the related Substitute Loan Cutoff Date, indicate in its Computer Records that ownership of each Substitute Loan identified on the Subsequent List of Loans has been sold by the Seller
to the Trust Depositor and by the Trust Depositor to the Issuer pursuant to the Transfer and Servicing Agreements. 
 (d) The
Servicer, the Issuer and the Trustee (at the request of the Servicer) shall execute and deliver such instruments, consents or other documents and perform all acts reasonably requested by the Servicer in order to effect the transfer and release of
any of the Issuer’s interests in the Loans that are being substituted. 

  
 8 

 (e) The Seller represents and warrants that each Substitute Loan is a Qualified Substitute
Loan as of the date such Substitute Loan is transferred to the Trust Depositor hereunder. 
  

	 	Section 2.05	[Reserved]. 

  

	 	Section 2.06	Release of Excluded Amounts. 

 The parties acknowledge and agree that the Trust Depositor has no interest in the Excluded Amounts. Immediately upon the release to the Trust Depositor by the Issuer of any Excluded Amounts, the Trust
Depositor hereby irrevocably agrees to release to the Seller such Excluded Amounts, which release shall be automatic and shall require no further act by the Trust Depositor; provided that the Trust Depositor shall execute and deliver such
instruments of release and assignment or other documents, or otherwise confirm the foregoing release of such Excluded Amounts, as may be reasonably requested by the Seller in writing. 

 

	 	Section 2.07	Delivery of Documents in the Loan File; Recording of Assignments of Mortgage. 

(a) Subject to the delivery requirements set forth in Section 2.07(b), the Seller shall deliver, on behalf of the Trust
Depositor, possession of all the Loan Files to the Trustee (or the Custodian on its behalf) on behalf of and for the account of the Noteholders. The Seller shall also identify on the List of Loans (including any deemed amendment thereof associated
with any Substitute Loans), whether by attached schedule or marking or other effective identifying designation, all Loans that are evidenced by such instruments. 
 (b) With respect to each Loan in the Collateral, at least three (3) Business Days before the Closing Date in the case of the 2012-1 Loans and three (3) Business Days before the related
Substitute Loan Cutoff Date in the case of any Substitute Loans (or, in each case, such lesser time as shall be acceptable to the Trustee), the Seller or the Trust Depositor will deliver or cause to be delivered to the Trustee (or to the Custodian
on its behalf), to the extent not previously delivered, each of the documents in the Loan File with respect to such Loan, provided, however, that, to the extent required to be delivered pursuant to the Sale and Servicing Agreement as
part of the Required Loan Documents with respect to such Loan, the original recorded Mortgage and the originals of all intervening assignments, if any, of the Mortgage, in those instances where a copy thereof, certified as described in clause
(b)(iii)(x) of the definition of Required Loan Document, was delivered to the Trustee as a Required Loan Document, will be delivered or caused to be delivered within ten (10) Business Days after receipt thereof, and in any event within one year
after the Closing Date in the case of the 2012-1 Loans and the related Substitute Loan Cutoff Date in the case of any Substitute Loans. Notwithstanding the proviso in the immediately preceding sentence, in those instances where the public recording
office retains the original Mortgage or any intervening assignments of the Mortgage after it has been recorded, the Seller or the Trust Depositor (as applicable) shall be deemed to have satisfied its obligations hereunder upon delivery to the
Trustee of a copy of such Mortgage or intervening assignments of the Mortgage certified by the public recording office to be a true copy of the recorded original thereof. 

  
 9 

 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 
 The Seller makes, and upon each conveyance
of Substitute Loans, as applicable, is deemed to make, the representations and warranties in Section 3.01 through Section 3.04, on which the Trust Depositor will rely in conveying the 2012-1 Loan Assets on the Closing Date
(and any Substitute Loan Assets on the relevant Substitute Loan Cutoff Date) to the Issuer, and on which the Issuer and the Securityholders will rely. The Seller acknowledges that such representations and warranties are being made by the Seller for
the benefit of the Issuer and the Securityholders. 
 Such representations and warranties are given as of the execution and
delivery of this Agreement and as of the Closing Date (or Substitute Loan Cutoff Date, as applicable), but shall survive the sale, transfer and assignment of the 2012-1 Loan Assets to the Trust Depositor and the sale, transfer and assignment of the
2012-1 Loan Assets by the Trust Depositor to the Issuer. The repurchase obligation or substitution obligation of the Seller set forth in Section 6.01 constitutes the sole remedy available for a breach of a representation or warranty of
the Seller set forth in Section 3.01 through Section 3.04 of this Agreement. 
  

	 	Section 3.01	Representations and Warranties Regarding the Seller. 

 The Seller represents and warrants that: 
 (a) Organization and Good
Standing. The Seller is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has the power to own its assets and to transact the business in which it is currently engaged. The Seller is
duly qualified to do business and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or leased by it requires such qualification and in which the failure so to qualify would
reasonably be expected to have a material adverse effect on the business, properties, assets, or condition (financial or otherwise) of the Seller. 
 (b) Authorization; Valid Sale; Binding Obligations. The Seller has the power and authority to make, execute, deliver and perform this Agreement and the other Transaction Documents to which it is a
party and all of the transactions contemplated under this Agreement and the other Transaction Documents to which it is a party, and to create the Trust Depositor and cause the Trust Depositor to make, execute, deliver and perform its obligations
under this Agreement and the other Transaction Documents to which the Trust Depositor is a party and has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement and the other Transaction Documents
to which it is a party. This Agreement shall effect a valid sale, transfer and assignment of or grant of a security interest in the Loan Assets from the Seller to the Trust Depositor, enforceable against the Seller and creditors of and purchasers
from the Seller. This Agreement and the other Transaction Documents to which the Seller is a party constitute the legal, valid and binding obligation of the Seller enforceable in 

  
 10 

 
accordance with their respective terms, except as enforcement of such terms may be limited by applicable Insolvency Laws and general principles of equity, whether considered in a suit at law or
in equity. 
 (c) No Consent Required. The Seller is not required to obtain the consent of any other party (other than
(i) the filing of UCC financing statements and (ii) those that it has already obtained) or any consent, license, approval or authorization from, or registration or declaration with, any Governmental Authority (other than those that it has
already obtained) in connection with the execution, delivery, performance, validity or enforceability of this Agreement or the other Transaction Documents to which it is a party. 

(d) No Violations. The execution, delivery and performance by the Seller of this Agreement and the other Transaction Documents to
which it is a party, and the consummation of the transactions contemplated hereby and thereby, will not violate in any material respect any Applicable Law applicable to the Seller, or conflict with, result in a default under or constitute a breach
of the Seller’s organizational documents or the material Contractual Obligations to which the Seller is a party or by which the Seller or any of the Seller’s properties may be bound, or result in the creation or imposition of any Lien of
any kind upon any of its properties pursuant to the terms of any such material Contractual Obligations, other than as contemplated by the Transaction Documents. 
 (e) Litigation. No litigation or administrative proceeding of or before any court, tribunal or governmental body is currently pending, or to the knowledge of the Seller threatened, against the
Seller or any of its properties or with respect to this Agreement or the other Transaction Documents to which it is a party or the Securities (1) that, if adversely determined, would in the reasonable judgment of the Seller be expected to have
a material adverse effect on the business, properties, assets or condition (financial or otherwise) of the Seller or the transactions contemplated by this Agreement or the other Transaction Documents to which the Seller is a party or
(2) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Certificate or Notes. 
 (f) Solvency. The Seller, at the time of and after giving effect to each conveyance of Loan Assets hereunder, is Solvent on and as of the date thereof. 

(g) Taxes. The Seller has filed or caused to be filed all tax returns which, to its knowledge, are required to be filed and has
paid all taxes shown to be due and payable on such returns or on any assessments made against it or any of its property and all other taxes, fees or other charges imposed on it or any of its property by any Governmental Authority (other than any
amount of tax due, the validity of which is currently being contested in good faith by appropriate proceedings and with respect to which reserves in accordance with generally accepted accounting principles have been provided on the books of the
Seller); no tax Lien has been filed and, to the Seller’s knowledge, no claim is being asserted, with respect to any such tax, fee or other charge. 
 (h) Place of Business; No Changes. The Seller’s location (within the meaning of Article 9 of the UCC) is the State of Maryland. The Seller has not changed its name, whether by amendment of its
Certificate of Incorporation, by reorganization or otherwise, within the four months preceding the Closing Date. The Seller has not changed its location within the four months preceding the Closing Date. 

  
 11 

 (i) Not an Investment Company. The Seller is not and, after giving effect to the
transactions contemplated by the Transaction Documents, will not be required to be registered as an “investment company” under the 1940 Act. 
 (j) Sale Treatment. Other than for accounting and tax purposes, the Seller has treated the transfer of the 2012-1 Loan Assets to the Trust Depositor for all purposes as a sale and purchase on all
of its relevant books and records and other applicable documents. 
 (k) Security Interest. 

(i) This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in favor of the
Trust Depositor in all right, title and interest of the Seller in the 2012-1 Loan Assets, which security interest is prior to all other Liens (except for Permitted Liens), and is enforceable as such against creditors of and purchasers from the
Seller; 
 (ii) the 2012-1 Loan Assets, along with the related Loan Files, constitute “general
intangibles,” “instruments,” “accounts,” “investment property,” or “chattel paper,” within the meaning of the applicable UCC; 

(iii) the Seller owns and has, and upon the sale and transfer thereof by the Seller to the Trust Depositor, the Trust
Depositor will have good and marketable title to the 2012-1 Loan Assets free and clear of any Lien (other than Permitted Liens), claim or encumbrance of any Person; 

(iv) the Seller has received all consents and approvals required by the terms of the 2012-1 Loan Assets to the sale of the
2012-1 Loan Assets hereunder to the Trust Depositor; 
 (v) the Seller has caused the filing of all appropriate
financing statements in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the security interest in the 2012-1 Loan Assets granted to the Trust Depositor under this Agreement to the extent perfection
can be achieved by filing a financing statement; 
 (vi) other than the security interest granted to the Trust
Depositor pursuant to this Agreement, the Seller has not pledged, assigned, sold, granted a security interest in or otherwise conveyed any of the 2012-1 Loan Assets. The Seller has not authorized the filing of and is not aware of any financing
statements naming the Seller as debtor that include a description of collateral covering the 2012-1 Loan Assets other than any financing statement (A) relating to the security interest granted to the Trust Depositor under this Agreement, or
(B) that has been terminated or for which a release or partial release has been filed. The Seller is not aware of the filing of any judgment or tax Lien filings against the Seller; 

  
 12 

 (vii) all original executed copies of each Underlying Note (if any) that
constitute or evidence the 2012-1 Loan Assets have been delivered to the Trustee; 
 (viii) the Seller has
received a written acknowledgment from the Trustee that the Trustee or its bailee is holding any Underlying Notes that constitute or evidence any 2012-1 Loan Assets solely on behalf of and for the benefit of the Securityholders; and 

(ix) none of the Underlying Notes that constitute or evidence any 2012-1 Loan Assets has any marks or notations indicating
that they have been pledged, assigned or otherwise conveyed to any Person other than the Trust Depositor. 
 (l) Value
Given. The cash payments and the corresponding increase in the Seller’s equity interest in the Trust Depositor received by the Seller in respect of the purchase price of the Loan Assets sold hereunder constitute reasonably equivalent value
in consideration for the transfer to the Trust Depositor of such Loan Assets under this Agreement, such transfer was not made for or on account of an antecedent debt owed by the Seller to the Trust Depositor, and such transfer was not and is not
voidable or subject to avoidance under any Insolvency Law. 
 (m) No Defaults. The Seller is not in default with respect
to any order or decree of any court or any order, regulation or demand of any federal, state, municipal or governmental agency, which default would reasonably be expected to have consequences that would materially and adversely affect the condition
(financial or otherwise) or operations of the Seller or its respective properties or might have consequences that would materially and adversely affect its performance hereunder. 

(n) Bulk Transfer Laws. The transfer, assignment and conveyance of the 2012-1 Loan Assets by the Seller pursuant to this Agreement
are not subject to the bulk transfer laws or any similar statutory provisions in effect in any applicable jurisdiction. 
 (o)
Origination and Collection Practices. The origination and collection practices used by the Seller and any of its Affiliates with respect to each 2012-1 Loan have been consistent with the Servicing Standard and have complied in all material
respects with the Credit and Collection Policy. 
 (p) Lack of Intent to Hinder, Delay or Defraud. Neither the Seller nor
any of its Affiliates sold, or will sell, any interest in any 2012-1 Loan Asset with any intent to hinder, delay or defraud any of their respective creditors. 
 (q) Nonconsolidation. The Seller conducts its affairs such that the Trust Depositor would not be substantively consolidated in the estate of the Seller and their respective separate existences
would not be disregarded in the event of the Seller’s bankruptcy. 
 (r) Accuracy of Information. All written
factual information heretofore furnished by the Seller for purposes of or in connection with this Agreement or the other Transaction Documents to which the Seller is a party, or any transaction contemplated hereby or thereby is, and all such written
factual information hereafter furnished by the Seller to any party to the Transaction Documents will be, true and accurate in all material respects, on the date such information is stated or certified; provided that the Seller shall not be
responsible for any factual 

  
 13 

 
information furnished to it by any third party not affiliated with it, or the Trust Depositor or the Servicer, except to the extent that a Responsible Officer of the Seller has actual knowledge
that such factual information is inaccurate in any material respect. 
 The representations and warranties set forth in
Section 3.01(k) may not be waived by any Person and shall survive the termination of this Agreement. The Seller and the Trust Depositor shall provide the Rating Agency with prompt written notice upon obtaining knowledge of any breach of
the representations and warranties set out in Section 3.01(k). 
  

	 	Section 3.02	Representations and Warranties Regarding Each Loan and as to Certain Loans in the Aggregate. 

The Seller represents and warrants (x) with respect to Section 3.02(a), Section 3.02(b),
Section 3.02(d) and Section 3.02(e), as to each 2012-1 Loan as of the Closing Date, and as of the related Substitute Loan Cutoff Date with respect to each Substitute Loan, and (y) with respect to
Section 3.02(c), as to the 2012-1 Loans in the aggregate as of the Closing Date, and as of the related Substitute Loan Cutoff Date with respect to Substitute Loans (after giving effect to the addition of such Substitute Loans to the
Collateral), that: 
 (a) List of Loans. The information set forth in the List of Loans attached to the Sale and
Servicing Agreement as Exhibit G (as the same may be amended or deemed amended in respect of a conveyance of Substitute Loans on the related Substitute Loan Cutoff Date) is true, complete and correct. 

(b) Eligible Loan. Each 2012-1 Loan and each Substitute Loan satisfies the criteria for the definition of Eligible Loan set forth
in the Sale and Servicing Agreement. 
 (c) No Liens. Each 2012-1 Loan and each Substitute Loan is free and clear of all
Liens, other than Permitted Liens, and, to the Seller’s knowledge, no offsets, defenses or counterclaims against the Seller have been asserted or threatened with respect to such 2012-1 Loan and such Substitute Loan, respectively. 

(d) Security Interest. Each 2012-1 Loan and each Substitute Loan is secured by a first priority perfected security interest in
certain property of the related Obligor identified in the loan documentation in favor of the Seller, as registered lienholder, or the Seller has taken all necessary action with respect to each 2012-1 Loan and each Substitute Loan to secure a first
priority perfected security interest in such property. 
 (e) Compliance with Law. Each 2012-1 Loan and each Substitute
Loan complies in all material respects, as of such date and as of the date on which it was originated, with applicable federal and state laws. 
  

	 	Section 3.03	[Reserved]. 

  
 14 

	 	Section 3.04	Representations and Warranties Regarding the Required Loan Documents. 

The Seller represents and warrants on the Closing Date with respect to the 2012-1 Loans (or as of the related Substitute Loan Cutoff Date,
with respect to Substitute Loans), that except as otherwise provided in Section 2.07, the Required Loan Documents and each other item included in the Loan File for each 2012-1 Loan (or Substitute Loan, as applicable) are in the
possession of the Trustee or the Custodian, on behalf of the Trustee. 
  

	 	Section 3.05	[Reserved]. 

  

	 	Section 3.06	Representations and Warranties Regarding the Trust Depositor. 

 By its execution of this Agreement, the Trust Depositor represents and warrants to the Seller that: 
 (a) Organization and Good Standing. The Trust Depositor is a limited liability company duly organized, validly existing and in good standing under the laws of Delaware and has the power to own its
assets and to transact the business in which it is currently engaged. The Trust Depositor is duly qualified to do business as and is in good standing in each jurisdiction in which the character of the business transacted by it or properties owned or
leased by it requires such qualification and in which the failure so to qualify would have a material adverse effect on the business, properties, assets or condition (financial or other) of the Trust Depositor or the Issuer. 

(b) Authorization; Valid Sale; Binding Obligations. The Trust Depositor has the power and authority to make, execute, deliver and
perform this Agreement and the other Transaction Documents to which it is a party and all of the transactions contemplated under this Agreement and the other Transaction Documents to which it is a party, and to create the Issuer and cause it to
make, execute, deliver and perform its obligations under this Agreement and the other Transaction Documents to which the Issuer is a party, and the Trust Depositor has taken all necessary limited liability company action to authorize the execution,
delivery and performance of this Agreement and the other Transaction Documents to which it is a party and to cause the Issuer to be created. This Agreement shall effect a valid sale, transfer and assignment of or grant of a security interest in the
Loan Assets from the Seller to the Trust Depositor. This Agreement and the other Transaction Documents to which the Trust Depositor is a party constitute the legal, valid and binding obligation of the Trust Depositor enforceable in accordance with
their respective terms, except as enforcement of such terms may be limited by applicable Insolvency Laws and general principles of equity, whether considered in a suit at law or in equity. 

(c) No Consent Required. The Trust Depositor is not required to obtain the consent of any other party (other than those that it
has already obtained) or any consent, license, approval or authorization from, or registration or declaration with, any Governmental Authority (other than those that it has already obtained) in connection with the execution, delivery, performance,
validity or enforceability of this Agreement or the other Transaction Documents to which it is a party. 
 (d) No
Violations. The execution, delivery and performance by the Trust Depositor of this Agreement and the other Transaction Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby, will not violate
in any 

  
 15 

 
material respect any Applicable Law applicable to the Trust Depositor, or conflict with, result in a default under or constitute a breach of the Trust Depositor’s organizational documents or
any material Contractual Obligations to which the Trust Depositor is a party or by which the Trust Depositor or any of the Trust Depositor’s properties may be bound, or result in the creation or imposition of any Lien of any kind upon any of
its properties pursuant to the terms of any such material Contractual Obligations, other than as contemplated by the Transaction Documents. 
 (e) Litigation. No litigation or administrative proceeding of or before any court, tribunal or governmental body is currently pending, or to the knowledge of the Trust Depositor threatened, against
the Trust Depositor or any of its properties or with respect to this Agreement, any other Transaction Documents to which it is a party or the Securities (i) that, if adversely determined, would in the reasonable judgment of the Trust Depositor
be expected to have a material adverse effect on the business, properties, assets or condition (financial or otherwise) of the Trust Depositor or the Issuer or the transactions contemplated by this Agreement or any other Transaction Documents to
which the Trust Depositor is a party or (ii) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Securities. 
 (f) Solvency. The Trust Depositor, at the time of, and after giving effect to each conveyance of Loan Assets hereunder and of Combined Loan Assets under the Sale and Servicing Agreement, is
Solvent. 
 (g) Taxes. The Trust Depositor has filed or caused to be filed all tax returns which, to its knowledge, are
required to be filed and has paid all taxes shown to be due and payable on such returns or on any assessments made against it or any of its property and all other taxes, fees or other charges imposed on it or any of its property by any Governmental
Authority (other than any amount of tax due, the validity of which is currently being contested in good faith by appropriate proceedings and with respect to which reserves in accordance with generally accepted accounting principles have been
provided on the books of the Trust Depositor); no tax Lien has been filed and, to the Trust Depositor’s knowledge, no claim is being asserted, with respect to any such tax, fee or other charge. 

(h) Place of Business; No Changes. The Trust Depositor’s location (within the meaning of Article 9 of the UCC) is the State
of Delaware. The Trust Depositor has not changed its name, whether by amendment of its certificate of formation, by reorganization or otherwise, and has not changed its location, within the four months preceding the Closing Date. 

(i) Not an Investment Company. The Trust Depositor is not and, after giving effect to the transactions contemplated by the
Transaction Documents, will not be required to be registered as an “investment company” within the meaning of the 1940 Act. 
 (j) Sale Treatment. Other than for accounting and tax purposes, the Trust Depositor has treated the transfer of Loan Assets from the Seller for all purposes as a sale and purchase on all of its
relevant books and records and other applicable documents. 

  
 16 

 ARTICLE IV 
 PERFECTION OF TRANSFER AND 
 PROTECTION OF SECURITY INTERESTS

  

	 	Section 4.01	Custody of Loans. 

The contents of each Loan File shall be held in the custody of the Custodian (on behalf of the Trustee) under the terms of the Sale and
Servicing Agreement for the benefit of, and as agent for, the Securityholders. 
  

	 	Section 4.02	Filing. 

 On the
Closing Date, the Seller shall cause the UCC financing statement(s) referred to in Section 2.02(f) hereof to be filed. Notwithstanding the obligations of the Seller set forth in the preceding sentence, the Trust Depositor hereby
authorizes the Servicer to prepare and file, at the expense of the Seller, such UCC financing statements (including but not limited to renewal, continuation or in lieu statements) and amendments or supplements thereto or other instruments as the
Servicer may from time to time deem necessary or appropriate in order to perfect and maintain the security interest granted hereunder in accordance with the UCC. 
  

	 	Section 4.03	Changes in Name, Organizational Structure or Location. 

 (a) During the term of this Agreement, the Seller shall not change its name, principal place of business, form of organization, existence, state of formation or location without first giving at least 30
days’ prior written notice to the Trust Depositor and Servicer. 
 (b) If any change in the Seller’s name, form of
organization, existence, state of formation, location or other action would make any financing or continuation statement or notice of ownership interest or Lien relating to any 2012-1 Loan Asset or Substitute Loan Asset seriously misleading within
the meaning of applicable provisions of the UCC or any title statute, the Seller, or the Servicer on its behalf, no later than five (5) Business Days after the effective date of such change, shall file such amendments as may be required
(including, but not limited to, any filings and other acts necessary or advisable under the UCC of each relevant jurisdiction) to preserve and protect the Trust Depositor’s, the Issuer’s and the Trustee’s interests in the 2012-1 Loan
Assets, any Substitute Loan Assets and the proceeds thereof. 
  

	 	Section 4.04	Costs and Expenses. 

The initial Servicer will be obligated to pay all reasonable costs and disbursements in connection with the perfection and the maintenance
of perfection, as against all third parties, of the Trust Depositor’s and Issuer’s right, title and interest in and to the 2012-1 Loan Assets and the Substitute Loan Assets (including, without limitation, the security interests in the
Related Property related thereto and the security interests provided for in the Indenture); provided that to the extent permitted by the Underlying Loan Agreements, the Servicer may seek reimbursement for such costs and disbursements from the
related Obligors. 

  
 17 

	 	Section 4.05	Sale Treatment. 

Other than for accounting and tax purposes, the Seller shall treat the transfer of Loan Assets made hereunder for all purposes as a sale
and purchase on all of its relevant books and records. 
  

	 	Section 4.06	Separateness from Trust Depositor. 

 The Seller agrees to take or refrain from taking or engaging in with respect to the Trust Depositor, each of the actions or activities specified in the “substantive consolidation” opinion of
Winston & Strawn LLP (including any certificates of the Seller delivered in connection therewith) delivered on the Closing Date, upon which the conclusions therein are based. 

ARTICLE V 

COVENANTS OF THE ORIGINATOR 
  

	 	Section 5.01	Corporate Existence. 

 During the term of this Agreement, the Seller will keep in full force and effect its existence, rights and franchises as a corporation under the laws of the jurisdiction of its formation and will obtain
and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the other Transaction Documents and each other instrument or
agreement necessary or appropriate for the proper administration of this Agreement and the transactions contemplated hereby. In addition, all transactions and dealings between the Seller and the Trust Depositor will be conducted on an
arm’s-length basis. 
  

	 	Section 5.02	[Reserved]. 

  

	 	Section 5.03	Security Interests. 

The Seller will not sell, pledge, assign or transfer to any Person other than the Trust Depositor, or grant, create, incur, assume or
suffer to exist any Lien on any Loan in the Collateral or its interest in any Related Property, other than the Lien granted to the Trust Depositor, whether now existing or hereafter transferred to the Trust Depositor, or as otherwise expressly
contemplated by this Agreement. The Seller will promptly notify the Trust Depositor upon obtaining knowledge of the existence of any Lien on any Loan in the Collateral or its interest in any Related Property; and the Seller shall defend the right,
title and interest of the Trust Depositor in, to and under the Loans in the Collateral and the Trust Depositor’s interest in any Related Property, against all claims of third parties; provided that nothing in this
Section 5.03 shall prevent or be deemed to prohibit the Seller from suffering to exist Permitted Liens upon any of the Loans in the Collateral or its interest in any Related Property. 

 

	 	Section 5.04	Compliance with Law. 

 The Seller hereby agrees to comply in all material respects with all Applicable Law applicable to the Seller except where the failure to do so would not reasonably be expected to have a material adverse
effect on the Securityholders. 

  
 18 

	 	Section 5.05	Liability of Seller. 

 The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Agreement. 

 

	 	Section 5.06	Limitation on Liability of Seller and Others. 

 The Seller and any director, officer, employee or agent of the Seller may rely in good faith on any document of any kind, prima facie properly executed and submitted by the appropriate Person respecting
any matters arising hereunder. The Seller shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any
expense or liability. 
  

	 	Section 5.07	Reserved. 

  

	 	Section 5.08	Merger or Consolidation of Seller. 

 Any Person into which the Seller may be merged or consolidated, or any Person resulting from such merger, conversion or consolidation to which the Seller is a party, or any Person succeeding to
substantially all of the business or substantially all of the lending business of the Seller shall be the successor to the Seller hereunder, without execution or filing of any paper or any further act on the part of any of the parties hereto,
notwithstanding anything herein to the contrary; provided that if the Seller is the Servicer at the time of such merger, conversion, consolidation or sale, such transaction meets the requirements set forth in Section 5.13 of the
Sale and Servicing Agreement. 
  

	 	Section 5.09	Delivery of Collections. 

 The Seller agrees to deposit into the Collection Account promptly (but in no event later than two (2) Business Days after receipt) all Collections received by the Seller in respect of any 2012-1 Loan
or Substitute Loan, for application in accordance with Section 7.05 of the Sale and Servicing Agreement. 
  

	 	Section 5.10	Underlying Custodial Agreements. 

 The Seller agrees to fully cooperate with the Trust Depositor, the Issuer and the Trustee, and from and after the occurrence and during the continuance of an Event of Default or Servicer Default to take
such actions as may be requested in the reasonable discretion of the Trustee, under any Underlying Loan Agreements. The Seller further agrees to fully cooperate with the Trust Depositor, the Issuer and the Trustee, and from and after the occurrence
and during the continuance of an Event of Default or Servicer Default to take such actions as may be requested in the sole and absolute discretion of the Trustee to cause to be defended, enforced, preserved and protected the rights and privileges of
the Trust Depositor, the Issuer, the Trustee and the Secured Parties under or with respect to the Underlying Loan Agreements and any underlying loan documents or other collateral held by the underlying custodians. 

  
 19 

 ARTICLE VI 
 REMEDIES UPON MISREPRESENTATION 
  

	 	Section 6.01	Repurchases of, or Substitution for, Loans for Breach of Representations and Warranties. 

Upon a discovery by a Responsible Officer of the Trust Depositor, a Responsible Officer of the Servicer, the Backup Servicer or any
subservicer, a Responsible Officer of the Owner Trustee or a Responsible Officer of the Trustee of a breach of a representation or warranty as set forth in Section 3.01, Section 3.02 or Section 3.04 or as made or
deemed made relating to any 2012-1 Loan or Substitute Loan, as applicable, that materially and adversely affects the interests of the Securityholders (each such Loan with respect to which such breach exists, an “Ineligible Loan”),
the party discovering such breach or failure shall give prompt written notice to the other parties to this Agreement; provided that neither the Owner Trustee nor the Trustee shall have a duty or obligation to inquire or to investigate the
breach of any of such representations or warranties. Within 30 days of the earlier of (x) its discovery or (y) its receipt of notice of any breach of a representation or warranty, the Seller shall (a) promptly cure such breach in all
material respects, (b) repurchase each such Ineligible Loan by depositing in the Lockbox Account, for further credit to the Collection Account, within such 30 day period, an amount equal to the Transfer Deposit Amount for such Ineligible Loan,
or (c) remove such 2012-1 Loan or Substitute Loan from the Collateral, deposit the Transfer Deposit Amount with respect to such Loan into the Lockbox Account, for further credit to the Collection Account, and, not later than the date a
repurchase of such affected Loan would be required hereunder, effect a substitution for such affected Loan with a Substitute Loan in accordance with the substitution requirements set forth in Section 2.04. 

 

	 	Section 6.02	Reassignment of Repurchased or Substituted Loans. 

 Upon receipt by the Trustee for deposit in the Collection Account of the amounts described in Section 6.01 (or upon the Substitute Loan Cutoff Date related to a Substitute Loan described in
Section 6.01), and upon receipt of an Officer’s Certificate of the Servicer in the form attached as Exhibit F to the Sale and Servicing Agreement, the Trustee and the Issuer shall assign to the Trust Depositor and the Trust
Depositor shall assign to the Seller all of the Trustee’s and the Issuer’s (or Trust Depositor’s, as applicable) right, title and interest in the 2012-1 Loans or Substitute Loans being repurchased or substituted for the related Loan
Assets without recourse, representation or warranty. Such reassigned 2012-1 Loan or Substitute Loan shall no longer thereafter be included in any calculations of Outstanding Loan Balances or otherwise be deemed a part of the Collateral. 

  
 20 

 ARTICLE VII 
 INDEMNIFICATION BY THE ORIGINATOR 
  

	 	Section 7.01	Indemnification. 

The Seller agrees to indemnify, defend and hold harmless the Trust Depositor, its officers, directors, employees and agents (any one of
which is an “Indemnified Party”) from and against any and all claims, losses, penalties, fines, forfeitures, judgments (provided that any indemnification for damages is limited to actual damages, not consequential, special or
punitive damages), reasonable legal fees and related costs and any other reasonable costs, fees and expenses that such Person may sustain as a result of the Seller’s fraud or the failure of the Seller to perform its duties in compliance in all
material respects with the terms of this Agreement, except to the extent arising from gross negligence, willful misconduct or fraud by the Person claiming indemnification. Any Person seeking indemnification hereunder shall promptly notify the Seller
if such Person receives a complaint, claim, compulsory process or other notice of any loss, claim, damage or liability giving rise to a claim of indemnification hereunder but failure to provide such notice shall not relieve the Seller of its
indemnification obligations hereunder unless the Seller is deprived of material substantive or procedural rights or defenses as a result thereof. The Seller shall assume (with the consent of the Indemnified Party, such consent not to be unreasonably
withheld) the defense and any settlement of any such claim and pay all expenses in connection therewith, including reasonable counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against the Indemnified
Party in respect of such claim. If the consent of the Indemnified Party required in the immediately preceding sentence is unreasonably withheld, the Seller shall be relieved of its indemnification obligations hereunder with respect to such Person.
The parties agree that the provisions of this Section 7.01 shall not be interpreted to provide recourse to the Seller against loss by reason of the bankruptcy, insolvency or lack of creditworthiness of an Obligor with respect to a 2012-1
Loan or Substitute Loan. The Seller shall have no liability for making indemnification hereunder to the extent any such indemnification constitutes recourse for uncollectible or uncollected 2012-1 Loans or Substitute Loans. 

 

	 	Section 7.02	Liabilities to Obligors. 

 No obligation or liability to any Obligor under any of the 2012-1 Loans or Substitute Loans is intended to be assumed by the Trust Depositor, the Trustees, the Issuer or the Securityholders under or as a
result of this Agreement and the transactions contemplated hereby. 
  

	 	Section 7.03	Operation of Indemnities. 

 If the Seller has made any indemnity payments to an Indemnified Party pursuant to this Article VII and such Indemnified Party thereafter collects any such amounts from others, such Indemnified
Party will repay such amounts collected to the Seller. 
 ARTICLE VIII 

MISCELLANEOUS 
  

	 	Section 8.01	Amendment. 

 (a)
This Agreement may be amended from time to time by the parties hereto by written agreement, with the prior written consent of the Trustee but without the consent of any Securityholder, to (i) cure any ambiguity or to correct or supplement any
provisions herein that 

  
 21 

 
may be inconsistent with any other provisions in this Agreement or in the Offering Memorandum, (ii) comply with any changes in the Code, USA PATRIOT Act, or U.S. securities laws (including
the regulations implementing such laws), (iii) add to the covenants of any party hereto for the benefit of the Securityholders, and (iv) add any new provisions with respect to matters or questions arising under this Agreement which shall
not be inconsistent with the provisions of this Agreement; provided that no such amendment shall materially and adversely affect the interests of any Noteholder. Notice of any such proposed amendment must be sent to all Securityholders and
the Rating Agency at least ten (10) Business Days prior to the execution of such amendment and (y) such amendment shall not be deemed to materially and adversely affect the interests of any Noteholder if the Person requesting such
amendment obtains an Opinion of Counsel addressed to the Trustee to that effect. 
 (b) Except as provided in
Section 8.01(a) hereof, this Agreement may be amended from time to time by the parties hereto by written agreement, with the prior written consent of the Trustee and with the consent of the Majority Noteholders and with notice to each of
the Rating Agency and the Owner Trustee, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Securityholders; provided
that (i) if such amendment materially and adversely affects any Notes, such amendment shall also require the consent of the majority of the Outstanding Principal Balance of such Notes and (ii) no such amendment shall reduce in any manner
the amount of, or delay the timing of, any amounts received on any 2012-1 Loans or Substitute Loans which are required to be distributed on any Note or the Certificate without the consent of the Holder of such Note or the Certificate or reduce the
percentage of Securityholders that are required to consent to any such amendment without the consent of the Securityholders holding 100% of the Notes or the Certificate affected thereby. 

(c) [Reserved]. 

(d) Promptly after the execution of any such amendment or consent, written notification of the substance of such amendment or consent
shall be furnished by the Trustee to the Noteholders, by the Owner Trustee to the Certificateholders and by the Seller to the Rating Agency. It shall not be necessary for the consent of any Securityholders required pursuant to
Section 8.01(b) to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the
authorization by the Securityholders of the execution thereof shall be subject to such reasonable requirements as the Trustee may prescribe for the Noteholders and as the Owner Trustee may prescribe for the Certificateholders. 

(e) Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Trustee shall be entitled to receive and
conclusively rely upon an Opinion of Counsel (which Opinion of Counsel may rely upon an Officer’s Certificate of the Servicer with respect to the effect of any such amendment on the economic interests of any Securityholders) stating that the
execution of such amendment is authorized or permitted by this Agreement. Each of the Trustee and the Owner Trustee may, but shall not be obligated to, enter into or consent to any such amendment that affects such Person’s own rights, duties,
indemnities or immunities under this Agreement or otherwise. 

  
 22 

	 	Section 8.02	Governing Law. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES UNDER THE AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

(b) EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO (I) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
AND CERTIFICATIONS IN THIS SECTION 8.02(b). 
  

	 	Section 8.03	Notices. 

 All
notices, demands, certificates, requests and communications hereunder (“notices”) shall be in writing and shall be effective (a) upon receipt when sent through the U.S. mails, registered or certified mail, return receipt
requested, postage prepaid, with such receipt to be effective the date of delivery indicated on the return receipt, or (b) one Business Day after delivery to an overnight courier, or (c) on the date personally delivered to a Responsible
Officer of the party to which sent, or (d) on the date transmitted by legible telecopier with a confirmation of receipt, in all cases addressed to the recipient as follows: 

 

	 	(i)	if to the Servicer or the Seller: 

 Hercules Technology Growth Capital, Inc. 
 400 Hamilton Avenue, Suite 310

 Palo Alto, California 94301 
 Attention: Chief Financial Officer 
 Re: Hercules Capital Funding Trust 2012-1

 Telephone: (650) 289-3060 
 Facsimile No.: (650) 473-9194 
 with a copy to: 

Hercules Technology Growth Capital, Inc. 
 400 Hamilton Avenue, Suite 310 
 Palo Alto, California 94301 

Attention: Chief Legal Officer 
 Re: Hercules Capital Funding Trust 2012-1 
 Telephone: (650) 289-3060

 Facsimile No.: (650) 473-9194 

  
 23 

	 	(ii)	if to the Trust Depositor: 

Hercules Capital Funding 2012-1 LLC 
 c/o Hercules Technology Growth Capital, Inc. 
 400 Hamilton Avenue, Suite 310

 Palo Alto, California 94301 
 Attention: Chief Financial Officer 
 Re: Hercules Capital Funding Trust 2012-1

 Telephone: (650) 289-3060 
 Facsimile No.: (650) 473-9194 
 with a copy to: 

Hercules Capital Funding 2012-1 LLC 
 c/o Hercules Technology Growth Capital, Inc. 
 400 Hamilton Avenue, Suite 310

 Palo Alto, California 94301 
 Attention: Chief Legal Officer 
 Re: Hercules Capital Funding Trust 2012-1

 Telephone: (650) 289-3060 
 Facsimile No.: (650) 473-9194 
  

	 	(iii)	if to the Trustee: 

 U.S. Bank
National Association 
 60 Livingston Avenue 
 EP-MN-WS3D 
 St. Paul, MN 55107 

Attention: Structured Finance – Hercules 2012-1 
 Facsimile No.: (651) 495-8090 
  

	 	(iv)	if to the Backup Servicer: 

U.S. Bank National Association 
 60 Livingston Avenue 
 EP-MN-WS3D 

St. Paul, MN 55107 
 Attention: Deborah Jones Franco 
 Facsimile No.: (651) 495-8090 

 

	 	(v)	If to the Custodian with respect to Loan Files: 

 U.S. Bank National Association 
 1133 Rankin Street, Suite 100 

St. Paul, MN 55116 
 Attention: Saah Kemayah 
 Ref: Hercules Capital Funding Trust 2012-1 

  
 24 

	 	(vi)	if to the Owner Trustee: 

Wilmington Trust, National Association 
 1100 North Market Street 
 Wilmington, Delaware 19890 

Attention: Corporate Trust Administration 
 Facsimile No.: (302) 636-4140 
 with a copy to: 

the Seller and the Servicer as provided in clause (i) above 

 

	 	(vii)	if to the Issuer: 

 Hercules
Capital Funding Trust 2012-1 
 c/o Wilmington Trust, National Association 

1100 North Market Street 
 Wilmington, Delaware 19890 
 Attention: Corporate Trust Administration 

Facsimile No.: (302) 636-4140 
 with a copy to: 
 the Seller and the Servicer as provided in clause
(i) above 
  

	 	(viii)	if to the Rating Agency: 

Moody’s Investors Service 
 7 World Trade Center 
 250 Greenwich Street 

New York, New York 10007 
  

	 	(ix)	if to the Initial Purchaser: 

Guggenheim Securities, LLC 
 135 East 57th
St, 7th Floor 

New York, NY 10022 
 Attention: Chief Operating Officer / General Counsel 
 Re: Hercules Capital
Funding Trust 2012-1 
 Facsimile No.: (646) 786-4931 

Each party hereto may, by notice given in accordance herewith to each of the other parties hereto, designate any further or different
address to which subsequent notices shall be sent. 

  
 25 

	 	Section 8.04	Severability of Provisions. 

 If one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever prohibited or held invalid or unenforceable, then such covenants, agreements,
provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement, the Notes or
Certificates or the rights of the Securityholders, and any such prohibition, invalidity or unenforceability in any jurisdiction shall not invalidate or render unenforceable such covenants, agreements, provisions or terms in any other jurisdiction.

  

	 	Section 8.05	Third Party Beneficiaries. 

 Except as otherwise specifically provided herein, the parties hereto hereby manifest their intent that no third party (other than the Issuer, the Trustee and the Owner Trustee) shall be deemed a third
party beneficiary of this Agreement, and specifically that the Obligors are not third party beneficiaries of this Agreement. 
  

	 	Section 8.06	Counterparts. 

This Agreement may be executed by facsimile signature and in several counterparts, each of which shall be an original and all of which
shall together constitute but one and the same instrument. 
  

	 	Section 8.07	Headings. 

 The
headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
  

	 	Section 8.08	No Bankruptcy Petition; Disclaimer. 

 (a) Each of the Seller and the Trust Depositor covenants and agrees that, prior to the date that is one year and one day (or, if longer, the preference period then in effect and one day) after the payment
in full of all amounts owing in respect of all outstanding Notes rated by any Rating Agency, it will not institute against the Trust Depositor (in the case of the Seller), or the Issuer, or join any other Person in instituting against the Trust
Depositor or the Issuer, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceedings under the laws of the United States or any state of the United States. This Section 8.08 will
survive the termination of this Agreement. 
 (b) The provisions of this Section 8.08 shall be for the third party
benefit of those entitled to rely thereon, including the Securityholders, and shall survive the termination of this Agreement. 
  

	 	Section 8.09	Jurisdiction. 

Any legal action or proceeding with respect to this Agreement may be brought in the courts of the United States for the Southern District
of New York, and by execution and delivery 

  
 26 

 
of this Agreement, each party hereto consents, for itself and in respect of its property, to the non-exclusive jurisdiction of those courts. Each such party irrevocably waives any objection,
including any objection to the laying of venue or based on the grounds of forum non conveniens, which it may now or hereafter have to the bringing of any action or proceeding in such jurisdiction in respect of this Agreement or any document
related hereto. 
  

	 	Section 8.10	Prohibited Transactions with Respect to the Issuer. 

 The Seller shall not: 
 (a) Provide credit to any Noteholder or Certificateholder
for the purpose of enabling such Noteholder or Certificateholder to purchase Notes or Certificates, respectively; 
 (b)
Purchase any Notes or Certificates in an agency or trustee capacity; or 
 (c) Except in its capacity as Servicer as provided in
the Sale and Servicing Agreement, lend any money to the Issuer. 
  

	 	Section 8.11	No Partnership. 

Nothing herein contained shall be deemed or construed to create a co-partnership or joint venture between the parties hereto. 

 

	 	Section 8.12	Successors and Assigns. 

 This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. 

 

	 	Section 8.13	Duration of Agreement. 

 This Agreement shall continue in existence and effect until the termination of the Sale and Servicing Agreement. 
  

	 	Section 8.14	Limited Recourse. 

The obligations of the Trust Depositor and the Seller under this Agreement and the other Transaction Documents are solely the obligations
of the Trust Depositor and the Seller, respectively. No recourse shall be had for the payment of any amount owing by the Trust Depositor or the Seller or otherwise under this Agreement, any other Transaction Document or for the payment by the Trust
Depositor or the Seller of any fee in respect hereof or thereof or any other obligation or claim of or against the Trust Depositor or the Seller arising out of or based upon this Agreement or any other Transaction Document, against any Affiliate,
shareholder, partner, manager, member, director, officer, employee, representative or agent of the Trust Depositor or the Seller or of any Affiliate of such Person. The provisions of this Section 8.14 shall survive the termination of
this Agreement. 
 [Remainder of Page Intentionally Left Blank.] 

  
 27 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
by their respective officers as of the day and year first above written. 
  

			
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.,
	as the Seller
		
	By:	 	 /s/ Jessica Baron

	Name:	 	Jessica Baron
	Title:	 	Chief Financial Officer
	
	 HERCULES CAPITAL FUNDING 2012-1 LLC
 as the Trust Depositor

		
	By:	 	 /s/ Jessica Baron

	Name:	 	Jessica Baron
	Title:	 	Vice President and Treasurer

  
 Hercules
Capital Funding Trust 2012-1 
 Sale and Contribution Agreement 

 EXHIBIT A 
 FORM OF ASSIGNMENT 
 December 19, 2012 

In accordance with the Sale and Contribution Agreement (the “Agreement”), dated as of December 19, 2012, made by and between the
undersigned, Hercules Technology Growth Capital, Inc., as the Seller, and Hercules Capital Funding 2012-1 LLC, as the Trust Depositor (the “Trust Depositor”), as assignee thereunder, the undersigned does hereby sell, transfer,
convey and assign, set over and otherwise convey to the Issuer, on behalf of the Trust Depositor, all of the Seller’s right, title and interest in and to the following: 
 (1) the Loans listed on Schedule A of the Agreement and all monies due, to become due or paid in respect thereof accruing on and after the Closing Date and all Insurance Proceeds, Liquidation
Proceeds, Released Mortgaged Property Proceeds and other recoveries thereon, in each case as they arise after the Closing Date; 
 (2) all
security interests and Liens and Related Property subject thereto from time to time purporting to secure payment by Obligors under such Loans; 

(3) all guaranties, indemnities and warranties, and other agreements or arrangements of whatever character from time to time supporting or securing
payment of such Loans; 
 (4) the Transaction Accounts, together with all cash and investments in each of the foregoing; 

(5) all collections and records (including Computer Records) with respect to the foregoing; 

(i) all documents relating to the applicable Loan Files; and 
 (ii) all income, payments, proceeds and other benefits of any and all of the foregoing, including but not limited to, all accounts, cash and currency, chattel paper, electronic chattel paper, tangible
chattel paper, copyrights, copyright licenses, equipment, fixtures, general intangibles, instruments, commercial tort claims, deposit accounts, inventory, investment property, letter of credit rights, software, supporting obligations, accessions,
and other property consisting of, arising out of, or related to the foregoing, but excluding any Excluded Amount with respect thereto. 

Capitalized terms used herein have the meaning given such terms in the Agreement. 
 This Assignment is made pursuant to and in reliance upon the representations and warranties on the part of the undersigned contained in Article III of the Agreement and no others. 

  
 A-1

 IN WITNESS WHEREOF, the undersigned has caused this Assignment to be duly executed on the date
written above. 
  

			
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC., as the Seller
		
	By:	 	  

	Name:	 	Jessica Baron
	Title:	 	Chief Financial Officer
	
	HERCULES CAPITAL FUNDING 2012-1 LLC, as the Trust Depositor
		
	By:	 	  

	Name:	 	Jessica Baron
	Title:	 	Vice President and Treasurer

  
 Hercules
Capital Funding Trust 2012-1 
 Sale and Contribution Agreement – Assignment 

 Schedule A 

2012-1 Loans 
 See Attached 

  
 S-B-1Note Purchase Agreement

 Exhibit 10.3 
 EXECUTION COPY 
 HERCULES CAPITAL FUNDING TRUST 2012-1 NOTES

 U.S. $129,300,000 OF 3.32% ASSET-BACKED NOTES 

NOTE PURCHASE AGREEMENT 

December 12, 2012 
 Guggenheim Securities,
LLC, 
 as Initial Purchaser (the “Initial Purchaser”) 
 135 East 57th Street 
 New York, NY 10022, 7th Floor 

Ladies and Gentlemen: 

Section 1. Authorization of Notes. 
 Hercules Technology Growth Capital, Inc. (the “Company”), as sole member of Hercules Capital Funding 2012-1 LLC (the “Trust Depositor”), has duly authorized the sale of
the 3.32% Asset-Backed Notes (the “Notes”) of Hercules Capital Funding Trust 2012-1, a Delaware statutory trust (the “Trust”). The Notes will be issued by the Trust in an aggregate principal amount of $129,300,000.
The Notes will be offered by the Trust pursuant to the Memoranda (as defined below). The Trust was formed pursuant to (i) a Trust Agreement, dated as of December 10, 2012, as amended and restated as of the Closing Date (the “Trust
Agreement”) between the Trust Depositor and Wilmington Trust, National Association, as the owner trustee (the “Owner Trustee”) and (ii) a Certificate of Trust filed with the Secretary of State of the State of Delaware
on December 10, 2012. In addition to the Notes, the Trust is issuing a Trust Certificate (the “Certificate”). The Certificate will represent a fractional undivided beneficial interest in the Trust. The Certificate will be
issued pursuant to the Trust Agreement. The Notes will be issued pursuant to an Indenture, to be dated as of the Closing Date (the “Indenture”), between the Trust and U.S. Bank National Association, as the trustee (the
“Trustee”). The Notes will be secured by the assets of the Trust. The primary assets of the Trust will be a pool of senior commercial loans made to life sciences companies and technology companies and secured by security interests
in certain assets of those companies, originated or acquired by the Company or one of its affiliates (collectively, the “Loans”). The Trust Depositor will acquire loans from the Company pursuant to a Sale and Contribution Agreement,
to be dated as of the Closing Date (the “Sale and Contribution Agreement”) between the Company and the Trust Depositor. Pursuant to a Sale and Servicing Agreement, to be dated as of the Closing Date (the “Sale and Servicing
Agreement”), among the Trust, the Company, the Trust Depositor, and the Trustee, the Trust Depositor will sell, transfer and convey to the Trust, without recourse, all of its right, title and interest in the Loans in consideration for the
Trust’s payment of portion of the proceeds of the Notes and the issuance of the Certificate to the Trust Depositor. Pursuant to the Indenture, as security for the indebtedness represented by the Notes, the Trust will pledge and grant to the
Trustee a security interest in the Loans, and its rights under the Sale and Contribution Agreement and the Sale and Servicing Agreement. This Note Purchase Agreement (the “Agreement”), the Trust Agreement, the Sale and Contribution
Agreement, the Sale and Servicing Agreement and the Indenture are referred to collectively herein as the “Transaction Documents.” 

 Capitalized terms used herein but not otherwise defined shall have the meanings set forth in
the Sale and Servicing Agreement. 
 The Notes are to be offered without being registered under the Securities Act of 1933, as
amended (the “Securities Act”), to “qualified institutional buyers” in compliance with the exemption from registration provided by Rule 144A under the Securities Act (“QIBs”), in offshore transactions to
non-U.S. persons in reliance on Regulation S under the Securities Act (“Regulation S”), and to institutional “accredited investors” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act)
(“Institutional Accredited Investors”) who, in each case, are “qualified purchasers” (“Qualified Purchasers”) for purposes of Section 3(c)(7) under the Investment Company Act of 1940, as amended (the
“1940 Act”). 
 In connection with the sale of the Notes, the Company has prepared a preliminary offering
memorandum dated December 10, 2012 (including any exhibits, amendments or supplements thereto and all information incorporated therein by reference, the “Preliminary Memorandum”), and a final offering memorandum dated
December 12, 2012 (including any exhibits, amendments or supplements thereto and all information incorporated therein by reference, the “Final Memorandum”, and each of the Preliminary Memorandum and the Final Memorandum, a
“Memorandum” or together the “Memoranda”) including a description of the terms of the Notes, the terms of the offering, and the Trust. The Company has also posted information relating to the performance of the
Loans, one or more marketing books, and certain additional information and documents concerning the Notes, the Loans and the Company to a password protected Internet site accessible by potential investors (such information the “Additional
Offering Materials”). It is understood and agreed that 2:14pm New York time on December 12, 2012 constitutes the time of the contract of sale of the Notes for purposes of Rule 159 under the Securities Act (the “Time of
Sale”). It is further understood and agreed that the Preliminary Offering Memorandum and the Additional Offering Materials as of the Time of Sale shall be the entirety of the information conveyed to investors as of the Time of Sale, and
that “Time of Sale Information” shall refer exclusively to such information, in either case in such form that has not been superseded by any amendment or supplement thereto. 

It is understood and agreed that nothing in this Agreement shall prevent the Initial Purchaser from entering into any agency agreements,
underwriting agreements or other similar agreements governing the offer and sale of securities with any issuer or issuers of securities, and nothing contained herein shall be construed in any way as precluding or restricting the Initial
Purchaser’s right to sell or offer for sale any securities issued by any person, including securities similar to, or competing with, the Notes. 

  
 2 

 Each of the Company and the Trust Depositor, as applicable, hereby agrees with you, as the
Initial Purchaser, as follows: 
 Section 2. Purchase and Sale of Notes. 

(a) Subject to the terms and conditions and in reliance upon the representations and warranties set forth herein, the Trust agrees to
sell to the Initial Purchaser, and the Initial Purchaser agrees to use commercially reasonable efforts to place, the aggregate principal amount of Notes set forth on Schedule I hereto with investors on a private placement basis in accordance
with the terms hereof. The Notes will be purchased at a price of 97.5%. It is understood and agreed that the Initial Purchaser is not acquiring and has no obligation to acquire the Certificate and the Certificate will be acquired by the Trust
Depositor on the Closing Date pursuant to the Trust Agreement. It is further understood and agreed that the Initial Purchaser may retain the Notes, purchase the Notes for its own account, or sell the Notes to its affiliates or to any other investor
in accordance with the applicable provisions hereof and of the Indenture. The Notes sold hereby shall be issued and sold free from all liens, charges and encumbrances, equities and other third party rights of any nature whatsoever, together with all
rights of any nature whatsoever attaching or accruing to them now or after the date of this Agreement. The Initial Purchaser shall have the right to reject, in whole or in part, any offer received by it to purchase Notes and any such rejection by
the Initial Purchaser shall not be deemed a breach of the agreements contained herein. 
 (b) In addition, whether or not the
transactions contemplated hereby shall be consummated, the Company agrees to pay (or cause to be paid by the Trust) certain costs and expenses incidental to the performance by the Company of its obligations hereunder and under the documents to be
executed and delivered in connection with the offering, issuance, sale, exchange and delivery of the Notes (the “Documents”), including, without duplication, (i) the fees and disbursements of counsel to the Company;
(ii) the fees and expenses of any trustees or custodian due to such trustees’ or custodian’s initial expenses incurred in connection with the issuance of the Notes and their or its counsel, as applicable; (iii) the fees and
expenses of any bank establishing and maintaining accounts on behalf of the holders of the Notes or in connection with the transactions; (iv) the fees and expenses of the accountants for the Company, including the fees for the “comfort
letters” or “agreed-upon procedures letters” required by the Initial Purchaser, any rating agency or any purchaser in connection with the offering, sale, issuance and delivery of the Notes; (v) all expenses incurred in connection
with the preparation and distribution of each Memorandum, the Additional Offering Materials and other disclosure materials prepared and distributed and all expenses incurred in connection with the preparation and distribution of the Transaction
Documents; (vi) the fees charged by any securities rating agency for rating the Notes; (vii) the fees for any securities identification service for any CUSIP or similar identification number required by the purchasers or requested by the
Initial Purchaser; (viii) all reasonable fees and disbursements of counsel to the Initial Purchaser; (ix) all expenses in connection with the qualification of the Notes for offering and sale under state securities laws, including the fees
and disbursements of counsel and, if necessary in the reasonable judgment of the Initial Purchaser, the cost of the preparation and reproduction of any “blue sky” or legal investment memoranda; (x) any federal, state or local taxes,
registration or filing fees (including Uniform Commercial Code financing statements) or other similar payments to any federal, state or local governmental authority in connection with the offering, sale, issuance and delivery of the

  
 3 

 
Notes; and (xi) the fees and expenses of any special counsel or other experts required to be retained to provide advice, opinions or assistance in connection with the offering, issuance,
sale and delivery of the Notes. Notwithstanding the foregoing, none of the Company, the Trust Depositor or the Trust shall be liable to the Initial Purchaser for loss of anticipated profits from the transactions covered by this Agreement.

 Section 3. Delivery. 
 Delivery of the Notes shall be made in the form of one or more global certificates delivered to The Depository Trust Company or its designated agent, except that any Note to be sold by the Initial
Purchaser to an Institutional Accredited Investor that is also a Qualified Purchaser for purposes of Section 3(c)(7) of the 1940 Act, but that is not a QIB (as such terms are defined herein), shall be delivered in fully registered, certificated
form in an amount not less than the applicable minimum denomination set forth in the Final Memorandum at the offices of Dechert LLP at 12:00 p.m. New York, New York time, on December 19, 2012 or such other place, time or date as may be mutually
agreed upon by the Initial Purchaser and the Company (the “Closing Date”). Subject to the foregoing, the Notes will be registered in such names and such denominations as the Initial Purchaser shall specify in writing to the Company
and the Trustee. The Certificate shall be delivered to the Trust Depositor on the Closing Date in fully registered, certificated form in the permitted denominations and the required proportions as set forth in the Final Memorandum. 

Section 4. Representations and Warranties of the Company. 

Each of the Company, the Trust Depositor and the Trust, with respect to itself, hereby represents and warrants to the Initial Purchaser,
as of the date hereof and as of the Closing Date, that: 
 (i) The Final Memorandum and any additional
information and documents concerning the Notes, including but not limited to the Additional Offering Materials, did not, as of their respective dates or date on which such statements contained therein were made, and the Final Memorandum and the
Additional Offering Materials and any amendment or supplement thereto, will not, each as of their respective dates or date on which such statements contained therein were made and as of the Closing Date, include an untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements in each, in light of the circumstances under which they were made, not misleading; provided that the Company makes no representation or warranty as to the
information contained in or omitted from the Final Memorandum or the Additional Offering Materials in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of the Initial Purchaser referenced in the
last sentence of Section 8(a) herein. 
 (ii) The Time of Sale Information, as of the Time of Sale,
did not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made,

  
 4 

 
not misleading; provided that the Company makes no representation or warranty as to the information contained in or omitted from the Time of Sale Information in reliance upon and in
conformity with information furnished in writing to the Company by or on behalf of the Initial Purchaser referenced in the last sentence of Section 8(a) herein. 

(iii) The Company is a Maryland corporation, duly incorporated and validly existing under the laws of the State of
Maryland, has all corporate power and authority necessary to own or hold its properties and conduct its business in which it is engaged as described in each Memorandum and has all licenses necessary (and has not received any notice of proceedings
relating to the revocation or modification of any such licenses) to carry on its business as it is now being conducted and is licensed and qualified in each jurisdiction in which the conduct of its business (including, without limitation, the
origination and acquisition of Loans and Related Property and performing its obligations hereunder and under the other Transaction Documents) requires such licensing or qualification and in which the failure so to qualify would have a material
adverse effect on the business, properties, assets, or condition (financial or otherwise) of the Company. 
 (iv)
This Agreement has been duly authorized, executed and delivered by the Company, the Trust Depositor and the Trust and, assuming due authorization, execution and delivery thereof by the other parties hereto, constitutes a valid and legally binding
obligation of the Company, the Trust Depositor and the Trust enforceable against the Company, the Trust Depositor and the Trust in accordance with its terms, subject, as to enforcement only, to the effect of bankruptcy, insolvency, reorganization,
moratorium and other similar laws relating to or affecting creditors’ rights generally or the application of equitable principles in any proceeding, whether at law or in equity. 

(v) On the Closing Date, the Sale and Contribution Agreement, the Sale and Servicing Agreement and the Assignment will
have been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery thereof by the other parties thereto, will constitute valid and binding agreements of the Company, enforceable against the
Company in accordance with their respective terms, subject, as to enforcement only, to the effect of bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally or the
application of equitable principles in any proceeding, whether at law or in equity. 
 (vi) On the Closing Date,
the Notes will have been duly authorized, and when executed and authenticated in accordance with the Indenture and delivered to and paid for by the Initial Purchaser in accordance with this Agreement, the Notes will constitute valid and binding
obligations of the Trust, enforceable against the Trust in accordance with their terms, subject, as to enforcement only, to the effect of bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting
creditors’ rights generally or the application of equitable principles in any proceeding, whether at law or in equity, and will be entitled to the benefits of the Indenture. 

  
 5 

 (vii) Other than as set forth in or contemplated by each Memorandum, there
are no legal or governmental proceedings pending to which the Company is a party or of which any property or assets of the Company are the subject of which could reasonably be expected to materially adversely affect the financial position,
members’ equity or results of operations of the Company or on the performance by the Company of its obligations hereunder or under the other Transaction Documents; and to the knowledge of the Company, no such proceedings are threatened or
contemplated by governmental authorities or threatened by others. 
 (viii) The execution, delivery and
performance of this Agreement and the other Transaction Documents to which it is a party and the consummation by each of the Company, the Trust Depositor and the Trust of the transactions contemplated herein and therein and in all documents relating
to the Notes will not result in any breach or violation of, or constitute a default under, any material agreement or instrument to which the Company is a party or to which any of its material properties or assets are subject, except for such of the
foregoing as to which relevant waivers, consents or amendments have been obtained and are in full force and effect or which would not reasonably be expected to have a material adverse effect on the financial position, members’ equity or results
of operations of the Company or on the performance by the Company of its obligations hereunder or under the other Transaction Documents, nor will any such action result in a violation of the articles of organization or limited liability company
agreement of the Company or any Applicable Law. 
 (ix) (i) None of the Trust Depositor, the Trust or the pool of
Loans is, or after giving effect to the transactions contemplated by the Transaction Documents will be, (a) required to be registered as an “investment company” under the 1940 Act or (b) required to register under the Commodity
Exchange Act of 1922, as amended, as a “commodity pool” and (ii) neither the Trust Depositor nor the Trust is “controlled” by an investment company within the meaning of the 1940 Act. 

(x) Assuming the Initial Purchaser’s representations herein are true and accurate, it is not necessary in connection
with the offer, sale or exchange and delivery of the Notes in the manner contemplated by this Agreement and each Memorandum to register the Notes under the Securities Act or to qualify the Indenture under the Trust Indenture Act of 1939, as amended.

 (xi) The Notes satisfy the requirements set forth in Rule 144A(d)(3) under the Securities Act. As of the
Closing Date, the Notes will not be (i) of the same class as securities listed on a national securities exchange in the United States that is registered under Section 6 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), or (ii) quoted in any “automated inter-dealer quotation system” (as such term is used in the Exchange Act) in the United States. 

(xii) At the time of execution and delivery of the Sale and Contribution Agreement, the Company owned the Loans to be
conveyed by it on the Closing Date free 

  
 6 

 
and clear of all liens, encumbrances, adverse claims or security interests (“Liens”) other than Liens permitted by the Transaction Documents and the Company had the power and
authority to transfer such loans to the Trust Depositor. At the time of execution and delivery of the Sale and Servicing Agreement, the Trust Depositor owned the Loans to be conveyed by it on the Closing Date free and clear of all Liens other than
Liens permitted by the Transaction Documents and the Trust Depositor had the power and authority to transfer such Loans to the Trust. 
 (xiii) Upon the execution and delivery of the Transaction Documents, delivery to the Trust of the Loans and delivery to, or upon the order of, the Trust Depositor of the net proceeds of the Notes and the
Certificate, the Trust will own the Loans conveyed to it on the Closing Date and the Trust Depositor will acquire title to the Certificate, in each case free of Liens except such Liens as may be permitted in the Transaction Documents. Upon the
execution and delivery of the Transaction Documents, payment by the Initial Purchaser for the Notes and delivery to the Initial Purchaser of the Notes, the Initial Purchaser will acquire title to the Notes, free and clear of Liens except such Liens
as may be granted or created by the Initial Purchaser and those permitted in the Transaction Documents. 
 (xiv)
No consent, authorization or order of, or filing or registration with, any court or governmental agency is required for the issuance and sale of the Notes by the Trust to the Initial Purchaser or the execution, delivery and performance by the Trust
of this Agreement or the other Transaction Documents to which it is a party, except such consents, approvals, authorizations, registrations or qualifications as have been obtained or as may be required under state securities or blue sky laws in
connection with the sale or exchange and delivery of the Notes in the manner contemplated herein. 
 (xv) The
Loans in all material respects have the characteristics described in the Time of Sale Information and the Final Memorandum. 
 (xvi) Each of the representations and warranties of the Company, the Trust Depositor and the Trust set forth in each of the other Transaction Documents is true and correct in all material respects.

 (xvii) Neither the Company nor any affiliate (as defined in Rule 501(b) of Regulation D under the Securities
Act (“Regulation D”)) of the Company nor anyone acting on their behalf has, directly or indirectly (except to or through the Initial Purchaser), sold or offered, or attempted to offer or sell, or solicited any offers to buy, or
otherwise approached or negotiated in respect of, any of the Notes and neither the Company nor any of its affiliates will do any of the foregoing. As used herein, the terms “offer” and “sale” have the meanings specified in
Section 2(3) of the Securities Act. 
 (xviii) Neither the Company nor any affiliate (as defined in Rule
501(b) of Regulation D) of the Company has directly, or through any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in 

  
 7 

 
the Securities Act) which is or will be integrated with the sale or exchange of the Notes in a manner that would require the registration under the Securities Act of the offering contemplated by
each Memorandum or engaged in any form of general solicitation or general advertising in connection with the offering of the Notes. 
 (xix) With respect to any Notes subject to the provisions of Regulation S of the Securities Act, the Company has not offered or sold such Notes during the Distribution Compliance Period to a person (other
than the Initial Purchaser) who is within the United States or its possessions or to a United States person. For this purpose, the term “Distribution Compliance Period” is defined as such term is defined in Regulation S and the terms
“United States or its possessions” and “United States person” are defined as such terms are defined for purposes of Treas. Reg. § 1.163-5(c)(2)(i)(D). 

(xx) Since the date of the latest audited financial statements of the Company, there has been no change nor any
development or event involving a prospective change which has had or could reasonably be expected to have a material adverse change in or effect on (i) the business, operations, properties, assets, liabilities, shareholders’ equity,
earnings, condition (financial or otherwise), results of operations or management of the Company and its subsidiaries, considered as one enterprise, whether or not in the ordinary course of business, or (ii) the ability of the Company to
perform its obligations hereunder or under the other Transaction Documents. 
 (xxi) The Notes, the Certificate
and the Transaction Documents conform in all material respects to the descriptions thereof in the Final Memorandum. 
 (xxii) Any taxes, fees, and other governmental charges in connection with the offering of the Notes, the execution and delivery of this Agreement and the other Transaction Documents, the execution,
delivery and transfer of the Certificate and the execution, delivery, and sale or exchange of the Notes have been or will be paid at or before the Closing Date. 
 (xxiii) None of the Company or any Person acting on its behalf has taken, and none of them will take, any action that might cause this Agreement or the issuance, sale or exchange of the Notes to violate
Regulation T, Regulation U or Regulation X of the Board of Governors of the Federal Reserve System. 
 (xxiv) No
proceeds received by the Company, the Trust Depositor or the Trust in respect of the Notes will be used by the Company, the Trust Depositor or the Trust to acquire any security in any transaction which is subject to Section 13 or 14 of the
Exchange Act. 
 (xxv) (i) Each of the Company, the Trust and their respective ERISA Affiliates is in compliance
in all material respects with ERISA unless any failure to so comply could not reasonably be expected to have a material adverse effect and (ii) no lien under Section 303(k) of ERISA or Section 430(k) of the Code exists on any of the
Collateral. 

  
 8 

 
As used in this paragraph, the term “ERISA Affiliate” means, with respect to any Person, a corporation, trade or business that is, along with such Person, a member of a
controlled group (as described in Section 414 of the Code or Section 4001 of ERISA). 
 (xxvi) Neither
the Company nor any of its properties or assets has any immunity from the jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise)
under the laws of the State of Maryland. 
 (xxvii) The Company has not paid or agreed to pay to any person any
compensation for soliciting another to purchase or exchange any of the Notes (except as contemplated by this Agreement and the engagement letter (the “Engagement Letter”) dated November 11, 2011, between the Company and the
Initial Purchaser). 
 (xxviii) No event has occurred which, had the Notes already been issued, might (whether or
not with the giving of notice and/or the passage of time and/or the fulfillment of any other requirement) constitute an event of default or such other similar term howsoever used or defined in any Transaction Document. 

(xxix) The Company has not taken, directly or indirectly, any action designed to cause or to result in, or that has
constituted or which might reasonably be expected to constitute, the stabilization or manipulation of the price of any Note or to facilitate the sale or resale of the Notes. 

(xxx) (i) The purchase and sale of the Notes pursuant to this Agreement, including the determination of the offering price
of the Notes and any related discounts and commissions, is an arm’s-length commercial transaction between the Company, on the one hand, and the Initial Purchaser, on the other hand, and the Company is capable of evaluating and understanding and
understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement; (ii) in connection with each transaction contemplated hereby, none of the Company, the Trust Depositor or the Trust is relying on the
Initial Purchaser as the financial advisor, agent (except to the extent provided in this Agreement) or fiduciary of the Company or any of its Affiliates, stockholders, creditors or employees or any other party; (iii) the Initial Purchaser has
no obligation to the Company with respect to the offering contemplated hereby except the obligations expressly set forth in this Agreement; (iv) the Company and the Trust Depositor acknowledge that the Initial Purchaser and its affiliates may
be engaged in a broad range of transactions that involve interests that differ from those of the Company and the Initial Purchaser has no obligation to disclose any of such interests by virtue of any advisory or fiduciary relationship; and
(v) the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate and is not relying on the Initial Purchaser for any legal, accounting, regulatory or tax advice with respect to the
offering contemplated hereby. 

  
 9 

 (xxxi) On and immediately after the Closing Date, each of the Company, the
Trust Depositor and the Trust (after giving effect to the issuance of the Notes and to the other transactions related thereto as described in the Time of Sale Information and the Final Memorandum) will be Solvent. As used in this paragraph, the term
“Solvent” means, with respect to a particular date and any Person, that on such date (A) the present fair market value (or present fair saleable value) of the assets of such Person is not less than the total amount required to
pay the probable liabilities of such Person on its total existing debts and liabilities (including contingent liabilities) as they become absolute and matured, (B) such Person is able to realize upon its assets and pay its debts and other
liabilities, contingent obligations and commitments as they mature and become due in the normal course of business, (C) assuming the sale or exchange of the Notes as contemplated by this Agreement, the Time of Sale Information and the Final
Memorandum, such Person is not incurring debts or liabilities beyond its ability to pay as such debts and liabilities mature and (D) such Person is not engaged in any business or transaction, and is not about to engage in any business or
transaction, for which its property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged. In computing the amount of such contingent liabilities at any
time, it is intended that such liabilities will be computed at the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

 (xxxii) The Company has provided a written representation (the “17g5 Representation”) to
Moody’s Investors Service, Inc. (the “Hired NRSRO”), which satisfies the requirements of paragraph Rule 17g-5(a)(3)(iii) of the Exchange Act (“Rule 17g5”) and a copy of which has been delivered to the Initial
Purchaser. The Company has complied with the representations, certifications and covenants made to the Hired NRSRO in connection with the 17g5 Representation. 
 (xxxiii) The Company has not taken, nor will it take, directly or indirectly, any action prohibited by Regulation M under the Exchange Act in connection with the offering of the Notes. 

(xxxiv) No forward looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of
the Exchange Act) contained in the Preliminary Memorandum or the Final Memorandum has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith. 

(xxxv) Each of the Company and the Trust Depositor represents and warrants that there are no contracts, agreements or
understandings between the Trust and any person granting such person the right to require the Trust to file a registration statement under the Securities Act with respect to any Notes owned or to be owned by such person or to include any Notes in
any securities registered pursuant to any registration statement filed by the Trust under the Securities Act. 

  
 10 

 (xxxvi) No action has been taken by any governmental agency or body and no
statute, rule or regulation or order has been enacted, adopted or issued by any governmental agency or body which prevents the issuance of the Notes or suspends the sale or exchange of the Notes in any jurisdiction; no injunction, restraining order
or order of any nature by a Federal or state court of competent jurisdiction has been issued with respect to the Company that would prevent or suspend the issuance, sale or exchange of the Notes, or the use of any of the Preliminary Memorandum, the
Final Memorandum or the Additional Offering Materials in any jurisdiction; no action, suit or proceeding is pending against or, to the best of the knowledge of the Company, threatened against or affecting the Company before any court or arbitrator
or any governmental body, agency or official, domestic or foreign, that could reasonably be expected to interfere with or adversely affect the issuance or exchange of the Notes or in any manner draw into question the validity of the Notes, any
related agreement or this Agreement or any action taken or to be taken pursuant hereto or thereto. 
 Section 5. Sale
of the Notes to the Initial Purchaser. 
 The sale of the Notes to the Initial Purchaser will be made without
registration of the Notes under the Securities Act, in reliance upon the exemption therefrom provided by Section 4(2) of the Securities Act. 
 (a) The Company, the Initial Purchaser and the Trust Depositor hereby agree that the Notes will be offered and sold only in transactions exempt from registration under the Securities Act. The Company, the
Initial Purchaser and the Trust Depositor will each reasonably believe at the time of the sale of the Notes by the Trust to the Initial Purchaser and the initial resale of the Notes by the Initial Purchaser (i) that either (A) each
purchaser of the Notes is an institutional investor that is (1) a QIB who is a Qualified Purchaser purchasing for its own account (or for the accounts of QIBs who are Qualified Purchasers to whom notice has been given that the resale, pledge or
other transfer is being made in reliance on Rule 144A) in transactions meeting the requirements of Rule 144A, or (2) an Institutional Accredited Investor who is a Qualified Purchaser who purchases for its own account or the account of other
Institutional Accredited Investors that are not QIBs and provides the Initial Purchaser with a written certification in substantially the form of Exhibit D-1 to the Indenture, or (B) each purchaser that is a non-U.S. person is acquiring the
Notes in an offshore transaction meeting the requirements of Regulation S and is a Qualified Purchaser, and (ii) that the offering of the Notes will be made in a manner that will enable the offer and sale of the Notes to be exempt from
registration under state securities or Blue Sky laws; and each such party understands that no action has been taken to permit a public offering in any jurisdiction where action would be required for such purpose. The Company, the Initial Purchaser
and the Trust Depositor each further agrees not to (i) engage (and represents that it has not engaged) in any activity that would constitute a public offering of the Notes within the meaning of Section 4(2) of the Securities Act or
(ii) offer, sell or exchange the Notes by (and represents that it has not engaged in) any form of general solicitation or general advertising (as those terms are used in Regulation D), including the methods described in Rule 502(c) of
Regulation D, in connection with any offer or sale of the Notes. 

  
 11 

 (b) The Initial Purchaser hereby represents and warrants to and agrees with the Company,
that (i) for resale purposes only, it is an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and a Qualified Purchaser and (ii) it will offer the Notes only
(A) to persons who it reasonably believes are QIBs who are Qualified Purchasers in transactions meeting the requirements of Rule 144A, (B) to institutional investors who it reasonably believes are Institutional Accredited Investors who are
Qualified Purchasers or (C) to non-United States persons it reasonably believes are Qualified Purchasers in offshore transactions in accordance with Regulation S. The Initial Purchaser further agrees that (i) it will deliver to each
purchaser of the Notes, at or prior to the Time of Sale, a copy of the Time of Sale Information, as then amended or supplemented, (ii) prior to any sale of the Notes to an Institutional Accredited Investor who is a Qualified Purchaser that it
does not reasonably believe is a QIB, it will receive from such Institutional Accredited Investor a written certification in substantially the form attached as Exhibit D-2 to the Indenture and (iii) prior to any sale of the Notes to an investor
in a denomination of less than $250,000, it will receive an Initial Transferee Certification in the form agreed upon on the date hereof. 
 (c) The Initial Purchaser hereby represents that it is duly authorized and possesses the requisite limited liability company power to enter into this Agreement. 

(d) The Initial Purchaser hereby represents and agrees that all offers and sales of the Notes by it to non-United States persons, prior
to the expiration of the Distribution Compliance Period, will be made only in accordance with the provisions of Rule 903 or Rule 904 of Regulation S (except to the extent of any beneficial owners thereof who acquired an interest therein pursuant to
another exemption from registration under the Securities Act and who will take delivery of a beneficial ownership interest in a Global Note, as contemplated in the Indenture) and only upon receipt of certification of beneficial ownership of the
securities by a non-United States person in the form provided in the Indenture. For this purpose, the term “Distribution Compliance Period” is defined as such term is defined in Regulation S and the term “United States person” is
defined as such term is defined for purposes of Treas. Reg. §1.163-5(c)(2)(i)(D). 
 (e) The Initial Purchaser represents
and agrees that (a) it has not delivered, and will not deliver, any Rating Information to the Hired NRSRO without the prior consent of a designated representative of the Company and (b) it has not participated, and will not participate, in
any oral communication regarding Rating Information with the Hired NRSRO unless a designated representative from the Company consents to or participates in such communication; provided, however, that if an Initial Purchaser receives an
oral communication from the Hired NRSRO, such Initial Purchaser is authorized to inform the Hired NRSRO that it will respond to the oral communication with a designated representative from the Company. For purposes of this paragraph, “Rating
Information” means any information that could reasonably be determined to be relevant to: (i) determining an initial credit rating for the Notes (as contemplated by Rule 17g-5(a)(3)(iii)(C)) or (ii) undertaking credit rating
surveillance for the Notes (as contemplated by Rule 17g-5(a)(3)(iii)(D)). 

  
 12 

 Section 6. Certain Agreements of the Company. 

The Company covenants and agrees with the Initial Purchaser as follows: 

(a) If, at any time prior to the completion of distribution of the Notes (as determined by the Initial Purchaser), any event involving
the Company shall occur as a result of which the Final Memorandum (as then amended or supplemented) would include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, the Company will promptly notify the Initial Purchaser and prepare and furnish to the Initial Purchaser an amendment or supplement to the Final Memorandum that will correct such statement or
omission. The Company will not at any time amend or supplement the Final Memorandum (i) prior to having furnished the Initial Purchaser with a copy of the proposed form of the amendment or supplement and giving the Initial Purchaser a
reasonable opportunity to review the same or (ii) in a manner to which the Initial Purchaser or its counsel shall object. The Initial Purchaser’s consent to or its delivery to prospective investors of such amendment or supplement shall not
constitute a waiver of any of the conditions set forth in Section 7 hereof. In the event that the Initial Purchaser shall incur any costs in connection with the reformation with a contract of sale with any investor that received the Time of
Sale Information that contains an untrue statement of a material fact or failed to state a material fact necessary in order to the make the statements therein, in the light of the circumstances under which they were made, not misleading, the Company
and the Trust Depositor jointly and severally agree to reimburse the Initial Purchaser for such costs, provided that the untrue statement or omission in the Time of Sale Information did not relate solely to Initial Purchaser Information (as defined
below). 
 (b) During the period referred to in Section 6(a), the Company will furnish to the Initial Purchaser,
without charge, copies of the Final Memorandum (including all exhibits and documents incorporated by reference therein), the Transaction Documents and all amendments or supplements to such documents, in each case, as soon as reasonably available and
in such quantities as the Initial Purchaser may from time to time reasonably request. 
 (c) During the period referred to in
Section 6(a), the Company shall promptly prepare, upon the reasonable request of the Initial Purchaser, any amendments of or supplements to the Final Memorandum that in the opinion of the Initial Purchaser may be reasonably necessary to
enable the Initial Purchaser to continue to sell the Notes, subject to the approval of the Initial Purchaser’s counsel. 

(d) At all times during the period referenced in Section 6(a), (i) the Company will make available to each offeree the
Additional Offering Materials subject to such offeree's acceptance of the confidentiality requirements with respect thereto and such information concerning any other relevant matters as it or any of its affiliates possess or can acquire without
unreasonable effort or expense, as determined in good faith by it or such affiliate, as applicable, (ii) the Company will provide each offeree the opportunity to ask questions of, and receive answers from, it concerning the terms and conditions
of the offering and to obtain any additional information, to the extent it or any of its affiliates possess such information or can acquire it 

  
 13 

 
without unreasonable effort or expense (as determined in good faith by it or such affiliate, as applicable), necessary to verify the accuracy of the information furnished to the offeree,
(iii) the Company will not publish or disseminate any material in connection with the offering of the Notes except as contemplated herein or as consented to by the Initial Purchaser or in connection with the Company’s disclosure
obligations under the Exchange Act, provided that no such disclosure under the Exchange Act would result in a requirement that the offering of the Notes be registered under §5 of the Securities Act, (iv) the Company will take such action
as the Initial Purchaser may reasonably request to obtain an exemption from registration requirements or to qualify the Notes for offering and sale under the state securities laws of such jurisdictions in the United States of America, its
territories and possessions, as the Initial Purchaser may request; (v) the Company will advise the Initial Purchaser promptly of the receipt by the Company of any communication from the SEC or any state securities authority concerning the
offering, sale or exchange of the Notes, (vi) the Company will advise the Initial Purchaser promptly of the commencement of any lawsuit or proceeding to which the Company is a party relating to the offering, sale or exchange of the Notes, and
(vii) the Company will advise the Initial Purchaser of the suspension of the qualification of the Notes for offering, sale or exchange in any jurisdiction, or the initiation or threat of any procedure for any such purpose. 

(e) The Company will furnish, upon the written request of any Noteholder or of any owner of a beneficial interest in a Note, such
information as is specified in paragraph (d)(4) of Rule 144A under the Securities Act (i) to such Noteholder or beneficial owner, (ii) to a prospective purchaser of a Note or interest therein who is a QIB and a Qualified Purchaser
designated by such Noteholder or beneficial owner, or (iii) to the Trustee for delivery to such Noteholder, beneficial owner or prospective purchaser, in order to permit compliance by such Noteholder or beneficial owner with Rule 144A in
connection with the resale of such Note or beneficial interest therein by such holder or beneficial owner in reliance on Rule 144A unless, at the time of such request, the Trust is subject to the reporting requirements of Section 13 or 15(d) of
the Exchange Act or is exempt from such reporting requirements pursuant to and in compliance with Rule 12g3-2(b). 
 (f) Except
as otherwise provided in the Indenture, each Note will contain a legend to the effect set forth in the Final Memorandum. 
 (g)
The Trust Depositor and the Company agree that no future offer and sale of Notes of the Trust will be made if, as a result of the doctrine of “integration” referred to in Rule 502 under the Securities Act, such offer and sale would require
the registration under the Securities Act of the offering contemplated by the Time of Sale Information and the Final Memorandum. 
 (h) None of the Company, the Trust Depositor nor the Trust will take or permit, or cause any of their affiliates to take, any action whatsoever which would have the effect of requiring the registration
under the Securities Act of the offering or sale of the Notes contemplated by the Time of Sale Information and the Final Memorandum. The Company or the Trust Depositor will cause the filing of such statements and reports as may be required under the
Securities Act or the Exchange Act. 

  
 14 

 (i) Neither the Company nor any of its affiliates or any other Person acting on their behalf
shall engage, in connection with the offer and sale or exchange of the Notes, in any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act, including, but not limited to, the
following: 
 (i) any advertisement, article, notice or other communication published in any newspaper, magazine
or similar medium or broadcast over television or radio; and 
 (ii) any seminar or meeting whose attendees have
been invited by any general solicitation or general advertising. 
 (j) None of the Company or any Person acting on its behalf
shall engage in any directed selling efforts (as that term is defined in Regulation S) with respect to the Notes, and the Company and each Person acting on its behalf shall comply with the applicable offering restrictions requirements of
Regulation S. 
 (k) The Company shall not solicit any offer to buy from or offer to sell or sell to any Person any Notes,
except through the Initial Purchaser or with the consent of the Initial Purchaser and/or as otherwise specified in the Indenture at any time prior to the Closing Date; on or prior to the Closing Date, the Company shall not publish or disseminate any
material other than the Additional Offering Materials consented to by the Initial Purchaser, the Time of Sale Information and the Final Memorandum in connection with the offer or sale of the Notes as contemplated by this Agreement, unless the
Initial Purchaser shall have consented to the use thereof; if the Company makes any press release including “tombstone” announcements, in connection with the Transaction Documents, it shall permit the Initial Purchaser to review and
approve such release in advance. 
 (l) The Company shall not take, or permit or cause any of its affiliates to take, any action
whatsoever which would have the effect of requiring the registration, under the Securities Act, of the offer, sale or exchange of the Notes contemplated by the Time of Sale Information or the Final Memorandum. 

(m) The Company shall not solicit any offer to buy from or offer to sell to any Person any Notes, except through the Initial Purchaser.

 (n) The Company shall not take, directly or indirectly, any action designed to or which has constituted or which might
reasonably be expected to cause or result, under the Exchange Act or otherwise, in stabilization or manipulation of the price of any Note to facilitate the sale, resale or exchange of the Notes. 

(o) The Company shall cooperate with the Initial Purchaser and use its best efforts to permit the Notes to be eligible for clearance and
settlement through the facilities of The Depository Trust Company (“DTC”) other than any Note to be sold by the Initial Purchaser to an Institutional Accredited Investor that is also a Qualified Purchaser, but that is not a QIB,
which shall be delivered in fully registered, certificated form in an amount not less than the applicable minimum denomination. 

  
 15 

 (p) The Company shall apply the net proceeds from the sale of the Notes as set forth in the
Final Memorandum under the heading “Use of Proceeds”. 
 (q) So long as any of the Notes are outstanding, the Company
or the Trust Depositor, as applicable, will furnish to the Initial Purchaser, by first-class mail, facsimile, email or such other method of delivery agreed to in writing by the Initial Purchaser, as soon as practicable: (i) all documents
required to be distributed to the Holders of Notes; (ii) annual statements of compliance, annual independent certified public accountants’ reports (so long as the Initial Purchaser has executed an acknowledgment letter in favor of such
accountants) and annual opinions of counsel furnished to the Trustee or the Owner Trustee pursuant to the Transaction Documents, following the date as such statements, reports and opinions are furnished to the Trustee or the Owner Trustee, as the
case may be and (iii) from time to time, such other information concerning the Company, the Trust Depositor, the Trust, the Notes or the Certificate as the Initial Purchaser may reasonably request. 

(r) The Company will extend to all prospective investors the opportunity to ask questions of, and receive answers from, the Company
concerning the Notes and the terms and conditions of the offering thereof and to obtain such information as such prospective investors may consider necessary in making an informed investment decision or to verify the accuracy of the information set
forth in the Memoranda, to the extent the Company possesses the same or can acquire it without unreasonable effort or expense, provided that the Company shall be under no obligation to divulge information that is proprietary or confidential.

 Section 7. Conditions of the Initial Purchaser Obligations. 

The obligation of the Initial Purchaser to purchase the Notes on the Closing Date will be subject to the accuracy, in all material
respects, of the representations and warranties of the Company herein and the other Transaction Documents, to the performance, in all material respects, by the Company of its obligations hereunder and the other Transaction Documents and to the
following additional conditions precedent: 
 (a) The Company shall have obtained all governmental authorizations (if any)
required in connection with the issuance and sale or exchange of the Notes and the performance of its obligations hereunder and under the other Transaction Documents to which it is a party. 

(b) The Notes shall have been duly authorized, executed, authenticated, delivered and issued, the Transaction Documents shall have been
duly authorized, executed and delivered by the respective parties thereto and shall be in full force and effect, and the Required Loan Documents in respect of the Loans shall have been delivered to the Trustee pursuant to and as required by the Sale
and Servicing Agreement. 

  
 16 

 (c) The Initial Purchaser shall have received a certificate, dated as of the Closing Date,
of the President, Chief Executive Officer, Chief Financial Officer, Treasurer or any Managing Member of the Company to the effect that such officer has carefully examined this Agreement, the Final Memorandum and the Transaction Documents and that,
to the best of such officer’s knowledge (i) since the date information is given in the Final Memorandum, there has not been any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or
business prospects of the Company, whether or not arising in the ordinary course of business, or the ability of the Company, the Trust Depositor or the Trust to perform its obligations hereunder or under the Transaction Documents or in the
characteristics of the Loans except as contemplated by the Final Memorandum, (ii) the representations and warranties of the Company as set forth herein are true and correct in all material respects as of the Closing Date, as though such
representations and warranties had been made on and as of such date, (iii) each of the Company, the Trust Depositor and the Trust has complied in all material respects with all agreements and satisfied all conditions on its part to be performed
or satisfied hereunder, under the other Transaction Documents, at or prior to the Closing Date, (iv) the representations and warranties of the Company, the Trust Depositor and the Trust in the other Transaction Documents are true and correct in
all material respects, as of the Closing Date, as though such representations and warranties had been made on and as of such date, and (v) nothing has come to the attention of such officer that would lead such officer to believe that
(A) the Time of Sale Information, as of the Time of Sale, contained any untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they
were made, not misleading, and (B) the Final Memorandum, as of its date and as of the Closing Date, or any Additional Offering Material, as of its respective date, contained or contains an untrue statement of a material fact or omitted or omits
to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. 
 (d) The Notes shall have been rated no less than “A2 (sf)” by the Hired NRSRO, such rating shall not have been rescinded, and no public announcement shall have been made by Hired NRSRO that any
rating of the Notes has been placed under review. 
 (e) Pricewaterhouse Coopers LLP shall have furnished to the Initial
Purchaser “agreed upon procedures” letters, dated the date of delivery thereof, in form and substance satisfactory to the Initial Purchaser, with respect to certain financial and statistical information contained in the static pool
reports, the Preliminary Memorandum and the Final Memorandum. 
 (f) The Initial Purchaser shall have received an opinion, dated
the Closing Date, of Nixon Peabody LLP counsel to the Trustee, in form and substance satisfactory to the Initial Purchaser. 

(g) The Initial Purchaser shall have received legal opinions of Winston & Strawn LLP, counsel to the Company, the Trust
Depositor and the Trust, (i) with respect to certain corporate, enforceability, federal tax, security interest, securities law and investment company matters, in form and substance satisfactory to the Initial Purchaser, (ii) with respect
to certain “true sale” issues in form and substance satisfactory to the Initial Purchaser and (iii) with respect to certain “non-consolidation” issues in form and substance satisfactory to the Initial Purchaser. 

  
 17 

 Winston & Strawn LLP shall also provide a customary “negative assurances” letter, dated
as of the Closing Date, addressed to the Initial Purchaser and in form and substance reasonably satisfactory to its counsel, containing customary exceptions and limitations, to the effect that such counsel has no reason to believe that the
Preliminary Memorandum, at the Time of Sale, or the Final Memorandum, as of its date and on the Closing Date, included or includes any untrue statement of a material fact or omitted or omits to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading (in each case, other than the financial statements and other information of a statistical, accounting or financial nature included in the Preliminary
Memorandum and the Final Memorandum). 
 (h) The Initial Purchaser shall have received opinions of Richards, Layton &
Finger, P.A., counsel to the Owner Trustee and special Delaware counsel to the Trust Depositor and the Trust, with respect to (i) certain corporate and enforceability matters regarding the Owner Trustee, (ii) certain Delaware limited
liability company matters, (iii) certain Delaware statutory trust matters, (iv) certain corporate, perfection and priority issues and (v) whether Delaware law, and not federal law, would govern the determination of what persons or
entities have the authority to file a voluntary bankruptcy petition on behalf of the Trust Depositor, in each case, in form and substance satisfactory to the Initial Purchaser. 

(i) The Initial Purchaser shall have received from the Trustee a certificate signed by one or more duly authorized officers of the
Trustee, dated the Closing Date, in customary form. 
 (j) The Initial Purchaser shall have received from the Owner Trustee, a
certificate signed by one or more duly authorized officers of the Owner Trustee, dated the Closing Date, in customary form. 

(k) The Company shall have furnished to the Initial Purchaser and its counsel such further information, certificates and documents as the
Initial Purchaser and its counsel may reasonably have requested, and all proceedings in connection with the transactions contemplated by this Agreement, the other Transaction Documents and all documents incidental hereto shall be in all material
respects reasonably satisfactory in form and substance to the Initial Purchaser and its counsel. 
 (l) The Initial Purchaser
shall have received from Dechert LLP, its counsel, a “negative assurance” letter, dated as of the Closing Date, in form and substance reasonably satisfactory to the Initial Purchaser; and the Company shall have furnished to such counsel
such documents as they reasonably request for the purpose of enabling them to pass on all matters contained therein. 
 (m) The
Trust shall have (or shall cause to be) delivered to DTC (or an approved custodian therefor) the Notes (other than the Notes issued to Institutional Accredited Investors), in each case in global form and as described in Section 3(b) above, duly
executed by the Trust and authenticated by the Indenture Trustee. The Trust shall have issued the Certificate. 

  
 18 

 (n) The Trust shall have executed and delivered to the DTC a standard “letter of
representations” sufficient to cause DTC to qualify the Notes issued in global form for inclusion in DTC’s book-entry registration and transfer system. 
 (o) Each of the Collection Account, the Lockbox Account, the Distribution Account and the Reserve Account shall have been established in accordance with the terms of the Transaction Documents. 

(p) All other documents incidental hereto, to the other Transaction Documents shall be reasonably satisfactory in form and substance to
the Initial Purchaser and its counsel. 
 If any of the conditions specified in this Section 7 shall not have been
fulfilled in all material respects when and as provided in this Agreement, or if any of the opinions and certificates mentioned above shall not be in all material respects reasonably satisfactory in form and substance to the Initial Purchaser, this
Agreement and all of the Initial Purchaser’s obligations hereunder may be canceled by the Initial Purchaser at or prior to delivery of and payment for the Notes. Notice of such cancellation shall be given to the Company in writing, or by
telephone or facsimile confirmed in writing. 
 Section 8. Indemnification and Contribution. 

(a) The Company, the Trust Depositor and the Trust, jointly and severally, shall indemnify and hold harmless the Initial Purchaser
(whether acting as Initial Purchaser or as placement agent with respect to any of the Notes), its affiliates, officers, directors, employees, agents and each person, if any, who controls the Initial Purchaser within the meaning of either the
Securities Act or the Exchange Act and the affiliates of the Initial Purchaser from and against any loss, claim, damage, liability or expense, joint or several, and any action in respect thereof, to which any indemnified party may become subject,
under the Securities Act or Exchange Act or otherwise, insofar as such loss, claim, damage, liability, expense or action arises out of, or is based upon, any untrue statement or alleged untrue statement of a material fact contained in the Final
Memorandum (or any amendment or supplement thereto), any Additional Offering Materials, the Time of Sale Information or arises out of, or is based upon, (i) the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein in light of the circumstances under which they were made not misleading, (ii) in whole or in part, any inaccuracy in the representations and warranties of the Company contained herein, or
(iii) in whole or in part, any failure of the Company to perform its obligations hereunder or under law; and shall reimburse any such indemnified party for any legal and other expenses reasonably incurred by such indemnified party in
investigating or defending or preparing to defend against any such loss, claim, damage, liability, expense or action; provided, however, that the indemnifying parties shall not be liable to any such indemnified party in
any such case to the extent that any such loss, claim, damage, liability, expense or action arises out of, or is based upon, any untrue statement or alleged untrue statement or omission or 

  
 19 

 
alleged omission made in the Time of Sale Information, any Memorandum or any Additional Offering Materials in reliance upon and in conformity with written information furnished to the Company by
or on behalf of the Initial Purchaser referenced in the last sentence of this Section 8(a); provided, further, that the foregoing indemnity shall not inure to the benefit of any indemnified party from whom the person
asserting any such loss, claim, damage, liability or expense purchased the Notes which are the subject thereof if the indemnified party sold Notes to or placed Notes with the person alleging such loss, claim, damage or liability without sending or
giving a copy of the Time of Sale Information at or prior to the confirmation of the sale of the Notes, if the Company shall have previously furnished copies thereof to such indemnified party and the loss, claim, damage or liability of such person
results from an untrue statement or omission of a material fact contained in the Preliminary Memorandum which was corrected in the Time of Sale Information. The foregoing indemnity is in addition to any liability that the indemnifying parties may
otherwise have to any indemnified party. The indemnifying parties acknowledge that the statements set forth in the Initial Purchaser Information (as defined herein) constitute the only written information furnished to the Company by or on behalf of
the indemnified parties specifically for inclusion in the Time of Sale Information, any Memorandum or any Additional Offering Materials. “Initial Purchaser Information” shall mean the information appearing in the Preliminary
Memorandum and the Final Memorandum under the caption: “Plan of Distribution” (but solely with respect to statements in the second paragraph relating to the Initial Purchaser under such caption). 

(b) Guggenheim Securities, LLC agrees to indemnify and hold harmless the Company, the Trust Depositor and the Trust, the partners,
directors, officers, employees and agents, and each person, if any, who controls the Company, the Trust Depositor and the Trust within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any
and all losses, claims, damages and liabilities, joint or several, or actions in respect thereof, caused by or arising out of any untrue statement or alleged untrue statement of a material fact contained in the Time of Sale Information, Final
Memorandum or any Additional Offering Materials (or in any amendment or supplement thereto) or caused by or arising out of any omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, but only to the extent such losses, claims, damages or liabilities are caused by or arise out of any untrue statement or omission based upon information furnished in
writing to the Company, the Trust Depositor and the Trust by Guggenheim Securities, LLC and set forth in the Initial Purchaser Information. 
 (c) Promptly after receipt by an indemnified party under this Section 8 of notice of any claim or the commencement of any action, the indemnified party shall, if a claim in respect thereof is
to be made against an indemnifying party under this Section 8, notify such indemnifying party in writing of the claim or commencement of that action, provided, however, that the failure to notify an
indemnifying party shall not relieve such indemnifying party from any liability that it may have to an indemnified party under this Section 8, except to the extent that such indemnifying party has been materially prejudiced by such
failure and, provided, further, that the failure to notify an indemnifying party shall not relieve such indemnifying party 

  
 20 

 
from any liability that it may have to an indemnified party otherwise than under this Section 8. If any such claim or action shall be brought against an indemnified party, and it
shall notify an indemnifying party thereof, such indemnifying party shall be entitled to participate therein and, to the extent that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense thereof with counsel
reasonably satisfactory to such indemnified party. After notice from any such indemnifying party or parties to the indemnified party or parties of its or their election to assume the defense of such claim or action, any such indemnifying party or
parties shall not be liable to the indemnified party under this Section 8 for any legal or other expenses subsequently incurred by the indemnified party or parties in connection with the defense thereof; provided that the
indemnified party seeking such indemnity shall have the right to employ counsel to represent it and any other indemnified party who may be subject to liability arising out of any claim or action in respect of which indemnity may be sought by an
indemnified party against an indemnifying party under this Section 8, if (i) in the reasonable judgment of such indemnified party, there may be legal defenses available to it and any other indemnified party different from or in
addition to those available to the indemnifying party, or there is a conflict of interest between it and any other indemnified party, on one hand, and the indemnifying party, on the other, or (ii) the indemnifying party shall fail to select
counsel reasonably satisfactory to such indemnified party or parties, and in such event the reasonable fees and expenses of such separate counsel shall be paid by the indemnifying party. In no event shall the indemnifying party be liable for the
fees and expenses of more than one separate firm of attorneys for all indemnified parties in connection with any other action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or
circumstances. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and
indemnity could have been sought hereunder by such indemnified party, unless such settlement (i) does not include a statement as to, or admission of, fault, culpability or a failure to act by or on behalf of any such indemnified party, and
(ii) includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding. 
 (d) If the indemnification provided for in Section 8 shall for any reason be unavailable to an indemnified party under subsection 8(a) hereof in respect of any loss, claim, damage or
liability, or any action in respect thereof, referred to therein, then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by such indemnified party as a result of such loss, claim,
damage or liability, or action in respect thereof, (i) in such proportion as shall be appropriate to reflect the relative benefits received by the Company, the Trust Depositor and the Trust, on the one hand (without duplication), and the
Initial Purchaser, on the other, from the offering and sale of the Notes or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault of the Company, the Trust Depositor and the Trust, on the one hand, and the Initial Purchaser, on the other, with respect to the statements or omissions that
resulted in such loss, claim, damage or liability, or action in respect thereof, as well as any other relevant equitable considerations. The relative benefits received by the Company, the Trust Depositor

  
 21 

 
and the Trust, on the one hand (without duplication), and the Initial Purchaser, on the other, with respect to such offering shall be deemed to be in the same proportion as the total net proceeds
from the offering and sale or exchange of the Notes (before deducting expenses) received by the Company, the Trust Depositor and the Trust bear (without duplication) to the total fees actually received by the Initial Purchaser with respect to such
offering and sale. The relative fault shall be determined by reference to whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company, the
Trust Depositor, the Trust or by the Initial Purchaser, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company, the Trust Depositor, the Trust and
the Initial Purchaser agree that it would not be just and equitable if contributions pursuant to this subsection 8(c) were to be determined by pro rata allocation or by any other method of allocation that does not take into account the
equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, damage or liability, or action in respect thereof, referred to above in this subsection 8(c) shall be deemed to
include, for purposes of this subsection 8(c), any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this clause
(d), the Initial Purchaser shall be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by it in connection with the Notes purchased by it exceeds the amount of any damages
which the Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

(e) The indemnity agreements contained in this Section 8 shall survive the delivery of the Notes, and the provisions of this
Section 8 (which shall at all times be effective and shall survive any termination of this Agreement) shall remain in full force and effect, regardless of any termination or cancellation of this Agreement or any investigation made by or
on behalf of any indemnified party. 
 Section 9. Termination. 

This Agreement shall be subject to termination in the absolute discretion of the Initial Purchaser, by notice given to the Company prior
to delivery of and payment for the Notes, if prior to such time (i) trading in securities generally in the New York Stock Exchange, the American Stock Exchange or the Nasdaq National Market shall have been suspended or limited or any setting of
minimum prices for trading on such exchange shall have occurred, (ii) there shall have been, since the respective dates as of which information is given in the Time of Sale Information or the Final Memorandum, any material adverse change in the
condition, financial or otherwise, or in the properties (including, without limitation, the Loans) or the earnings, business affairs or business prospects of the Company, whether or not arising in the ordinary course of business; (iii) a
general moratorium on commercial banking activities in New York shall have been declared by either U.S. federal or New York State authorities, (iv) there shall 

  
 22 

 
have occurred any outbreak or material escalation of hostilities or declaration by the United States of a national emergency or war any other major act of terrorism involving the United States,
or other substantial national or international calamity or crises the effect of which on the financial markets of the United States is such as to make it, in the reasonable judgment of the Initial Purchaser, impracticable or inadvisable to market
the Notes on the terms and in the manner contemplated by each Memorandum as amended or supplemented or any substantial change or development involving a prospective substantial change in United States’ or international political, financial or
economic conditions, as in the reasonable judgment of the Initial Purchaser is material and adverse and makes it impracticable or inadvisable to proceed with the offering sale or delivery of the Notes in the manner and on the terms described in the
Memoranda or to enforce contracts for the sale of securities; (v) any federal or state statute, regulation, rule or order of any court or other governmental authority shall have been enacted or published or promulgated which, in the reasonable
judgment of the Initial Purchaser, materially and adversely affects, or will materially and adversely affect, the business, prospects, financial condition or results of operations of the Company; (vi) any material disruption in securities
settlement, payment or clearance services shall have occurred in the United States or (vii) the Company shall have sustained a loss by strike, fire, flood, earthquake, accident or other calamity of such character which may reasonably be
expected to materially interfere with the conduct of the business and operations of the Company regardless of whether or not such loss shall have been insured. 
 Any termination of this Agreement pursuant to this Section 9 shall be without liability or any further obligation of any party to any other party except for the indemnity provided in
Section 8 (which shall at all times be effective and shall survive any termination of this Agreement) and any liability (including the obligation to reimburse the expenses of the Initial Purchaser pursuant to Section 2(b) hereof)
arising in connection with the transactions contemplated by this Agreement that arise before such termination. 

Section 10. Severability Clause. 
 Any part, provision, representation, or warranty of this Agreement which is prohibited or is held to be void or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. 
 Section 11.
Notices. 
 All demands, notices and communications hereunder shall be in writing and shall be deemed to have been
duly given if personally delivered at or mailed by overnight mail, certified mail or registered mail, postage prepaid and effective only upon receipt and if sent to the Initial Purchaser, will be delivered to Guggenheim Securities, LLC, 135 East
57th Street, New York, New York 10022; or if sent to the Company or the Trust Depositor will be delivered to such party c/o Hercules Technology Growth Capital, Inc., 400 Hamilton Avenue, Suite 310, Palo Alto, California 94301, Telephone:
(650)-289-3060, or at any other address previously furnished in writing to the Trustee by the Company. 

  
 23 

 Section 12. Representations and Indemnities to Survive. 

The respective agreements, representations, warranties, indemnities and other statements of the Company, the Trust Depositor, the Trust
and their respective officers and of the Initial Purchaser set forth in or made pursuant to this Agreement shall remain in full force and effect (in the case of the Company, regardless of any investigation or any statements as to the results thereof
made by or on behalf of the Initial Purchaser, the Company, the Trust Depositor, the Trust or indemnified party or any officer, director, employee or controlling person of the Initial Purchaser, the Company, the Trust Depositor, the Trust or
indemnified party), regardless of the completion of the arrangements for the purchase and issuance of the Notes or any investigation made by or on behalf of the Initial Purchaser, the Company, the Trust Depositor, the Trust or indemnified party. The
provisions of Sections (2)(b), 8, 14, and 17 of this Agreement shall survive the termination or cancellation of this Agreement. 
 Section 13. Successors. 
 This Agreement will inure to the
benefit of and be binding upon the parties hereto and their respective successors by merger, consolidation or acquisition of their assets substantially as an entity and each indemnified party referred to in Section 8 of this Agreement
and, except as specifically set forth herein, no other person will have any right or obligation hereunder. 

Section 14. Applicable Law. 
 (a) THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT
OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES). 
 (b) EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY REQUIREMENTS OF LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO (I) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 14(b). 
 (c) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT,
EACH PARTY HERETO CONSENTS, FOR ITSELF AND IN 

  
 24 

 
RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH SUCH PARTY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE
GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. 

Section 15. Counterparts, Etc. 
 This Agreement supersedes all prior or contemporaneous agreements and understandings relating to the subject matter hereof. Neither this Agreement nor any term hereof may be amended, modified, changed,
waived, discharged or terminated except by a writing signed by the party against whom enforcement of such change, waiver, discharge or termination is sought. This Agreement may be signed in any number of counterparts each of which shall be deemed an
original, which taken together shall constitute one and the same instrument. 
 Section 16. Limitation of
Liability. 
 Notwithstanding any other provision herein or elsewhere, this Agreement has been executed and delivered on
behalf of the Trust by Wilmington Trust, National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Trust, in no event shall Wilmington Trust, National Association or the Owner Trustee have any liability
in respect of the representations, warranties, or obligations of the Trust hereunder or under any other document, as to all of which recourse shall be had solely to the assets of the Trust, and for all purposes of this Agreement and each other
document the Owner Trustee and Wilmington Trust, National Association, shall be entitled to the benefits of the Trust Agreement. The provisions of this Section 16 shall survive any termination of this Agreement. 

Section 17. No Petition; Limited Recourse. 
 (a) The Initial Purchaser covenants and agrees that, prior to the date that is one year and one day (or such longer preference period as shall then be in effect) after the payment in full of the Notes
rated by Hired NRSRO, it will not institute against the Trust or the Trust Depositor or join any other Person in instituting against the Trust or the Trust Depositor any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings
or other similar proceedings under the laws of the United States or any state of the United States. 
 (b) Notwithstanding
anything to the contrary herein, the obligations of the Trust hereunder are limited recourse obligations of the Trust payable solely from the Collateral securing the Notes and all other assets of the Trust and following the exhaustion of such
Collateral and such other assets, any claims of the Initial Purchaser hereunder against the Trust shall be extinguished. All payments by the Trust to the Initial Purchaser hereunder shall be made subject to and in accordance with the Priority of
Payments set forth in Section 7.05 of the Sale and Servicing Agreement. 

  
 25 

 Section 18. USA Patriot Act Notice. The Initial Purchaser hereby notifies
the Company, the Trust Depositor and the Trust that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and
record information that identifies the Company, the Trust Depositor and the Trust, such information includes the name and address of each of the Company, the Trust Depositor and the Trust and other information that will allow the Initial Purchaser
to identify each other party in accordance with the Patriot Act. 
 Section 19. Arm’s-Length Transaction; Other
Transactions. 
 (a) Each of the Company and the Trust Depositor acknowledges and agrees that (i) the purchase and
sale of the Notes pursuant to this Agreement, including the determination of the offering price of the Notes and any related discounts and commissions, is an arm’s-length commercial transaction between the Trust, on the one hand, and the
Initial Purchaser, on the other hand, (ii) in connection with the offering contemplated hereby and the process leading to such transaction, the Initial Purchaser is and has been acting solely as a principal and is not an agent or fiduciary of
the Trust, the Company or the Trust Depositor or any of their respective equity holders, creditors, employees or any other party, (iii) the Initial Purchaser has not assumed and will not assume an advisory or fiduciary responsibility in favor
of the Trust, the Company or the Trust Depositor with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether the Initial Purchaser has advised or is currently advising any of the Trust, the Company or the
Trust Depositor on other matters) and the Initial Purchaser has no obligation to any of the Trust, the Company or the Trust Depositor with respect to the offering contemplated hereby, except the obligations expressly set forth in this Agreement, and
(iv) the Initial Purchaser has not provided any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby and each of the Trust, the Company and the Trust Depositor has consulted its own legal, accounting,
regulatory and tax advisors to the extent it deemed appropriate. 
 (b) Each of the Company, the Trust Depositor and the Trust
acknowledges and agrees that the Initial Purchaser and its Affiliates may presently have and may in the future have investment and commercial banking, trust and other relationships with parties other than the Company, the Trust Depositor and the
Trust, which parties may have interests with respect to the purchase and sale or exchange of the Notes. Although the Initial Purchaser in the course of such other relationships may acquire information about the purchase and sale or exchange of the
Notes, potential purchasers of the Notes or such other parties, the Initial Purchaser shall not have any obligation to disclose such information to any of the Company, the Trust Depositor or the Trust. Furthermore, each of the Company, the Trust
Depositor and the Trust acknowledges that the Initial Purchaser may have fiduciary or other relationships whereby the Initial Purchaser may exercise voting power over securities of various persons, which securities may from time to time include
securities of any of the Company, the Trust Depositor or the Trust or their respective Affiliates or of potential purchasers. Each of the Company, the Trust Depositor and the Trust acknowledges that the Initial Purchaser may exercise such powers and
otherwise perform any functions in connection with such fiduciary or other relationships without regard to its relationship to the Company, the Trust Depositor or the Trust hereunder. 

  
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 [REST OF PAGE INTENTIONALLY LEFT BLANK] 

  
 27 

 If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement among the Company, the Trust Depositor, the Trust and the Initial Purchaser. 

 

			
	Very truly yours,
	
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
		
	By:	 	 /s/ K. Nicholas Martitsch

	Name:	 	K. Nicholas Martitsch
	Title:	 	Associate General Counsel
	
	HERCULES CAPITAL FUNDING 2012-1 LLC
		
	By:	 	Hercules Technology Growth Capital, Inc.,
		 	its sole member
		
	By:	 	 /s/ K. Nicholas Martitsch

	Name:	 	K. Nicholas Martitsch
	Title:	 	Associate General Counsel
	
	HERCULES CAPITAL FUNDING TRUST 2012-1
		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee on behalf of the Trust
		
	By:	 	 /s/ Jeanne M. Oller

	Name:	 	Jeanne M. Oller
	Title:	 	Assistant Vice President

  
 Hercules
Capital Funding Trust 2012-1 
 Note Purchase Agreement 

  
 S-1

 The foregoing Agreement is hereby confirmed and 
 accepted as of the date first above written. 
  

			
	GUGGENHEIM SECURITIES, LLC
	as the Initial Purchaser
		
	By:	 	 /s/ Paul M. Friedman, Sr. MD

	Name:	 	Paul M. Friedman, Sr. MD
	Title:	 	Chief Operating Officer
	Date:	 	12/12/2012

  
 Hercules
Capital Funding Trust 2012-1 
 Note Purchase Agreement 

  
 S-2

 SCHEDULE I 

 

	
	 Principal Amount

	 $129,300,000

 SCHEDULE II 

TIME OF SALE INFORMATION 
 Hercules Capital Funding Trust 2012-1 **Priced** IAI/144A/Reg S 
  

															
	 Note Type
	  	SIZE	 	  	RATING	 	COUPON	 	 	PRICE	 
	 Rule 144A
	  	$	129,300,000	  	  	A2(sf)	 	 	3.32	% 	 	 	97.5	% 
	 IAI
	  	$	0	  	  	A2(sf)	 	 	3.32	% 	 	 	97.5	% 
	 Reg S
	  	$	0	  	  	A2(sf)	 	 	3.32	% 	 	 	97.5	%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00211-of-00352.parquet"}]]