Document:

Exhibit 10.2

 

Execution
Version

  

 

 

GUARANTEE AND COLLATERAL AGREEMENT

 

made by

 

BSPRT BB
LOAN, LLC,

BSPRT FINANCE
SUB-LENDER II, LLC,

 

 and

 

BENEFIT STREET
PARTNERS REALTY TRUST, INC

 

in favor of

 

BARCLAYS BANK PLC,

as Administrative Agent

 

Dated as of September 19, 2017

 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1 DEFINED TERMS	1
	 	 	 	 	 
	 	1.1	 	Definitions	1
	 	 	 	 	 
	 	1.2	 	Other Definitional Provisions	5
	 	 	 	 	 
	Section 2 GUARANTEE	5
	 	 	 	 	 
	 	2.1	 	Guarantee	5
	 	 	 	 	 
	 	2.2	 	Subrogation	6
	 	 	 	 	 
	 	2.3	 	Amendments, etc. with respect to the Borrower Obligations	7
	 	 	 	 	 
	 	2.4	 	Guarantee Absolute and Unconditional	7
	 	 	 	 	 
	 	2.5	 	Reinstatement	8
	 	 	 	 	 
	 	2.6	 	Payments	8
	 	 	 	 	 
	Section 3 GRANT OF SECURITY INTEREST	8
	 	 	 	 	 
	Section 4 REPRESENTATIONS AND WARRANTIES	9
	 	 	 	 	 
	 	4.1	 	Representations in Credit Agreement	9
	 	 	 	 	 
	 	4.2	 	Title; No Other Liens	9
	 	 	 	 	 
	 	4.3	 	Perfected First Priority Liens	10
	 	 	 	 	 
	 	4.4	 	Jurisdiction of Organization; Chief Executive Office	10
	 	 	 	 	 
	 	4.5	 	Inventory and Equipment	10
	 	 	 	 	 
	 	4.6	 	Farm Products	10
	 	 	 	 	 
	 	4.7	 	Investment Property	10
	 	 	 	 	 
	 	4.8	 	Receivables	10
	 	 	 	 	 
	 	4.9	 	Intellectual Property	11
	 	 	 	 	 
	 	4.10	 	Deposit Accounts	11
	 	 	 	 	 
	Section 5 COVENANTS	11
	 	 	 	 	 
	 	5.1	 	[Intentionally Omitted]	11
	 	 	 	 	 
	 	5.2	 	Delivery of Instruments and Chattel Paper	12
	 	 	 	 	 
	 	5.3	 	Maintenance of Insurance	12
	 	 	 	 	 
	 	5.4	 	Payment of Obligations	12
	 	 	 	 	 
	 	5.5	 	Maintenance of Perfected Security Interest; Further Documentation	12
	 	 	 	 	 
	 	5.6	 	Changes in Name, etc.	13

 

    -i-

     

    

 

	 	5.7	 	Notices	13
	 	 	 	 	 
	 	5.8	 	Investment Property	13
	 	 	 	 	 
	 	5.9	 	Receivables	13
	 	 	 	 	 
	 	5.10	 	Intellectual Property	14
	 	 	 	 	 
	 	5.11	 	Deposit Accounts	15
	 	 	 	 	 
	 	5.12	 	Loan Collateral	15
	 	 	 	 	 
	Section 6 REMEDIAL PROVISIONS	15
	 	 	 	 	 
	 	6.1	 	Certain Matters Relating to Receivables	15
	 	 	 	 	 
	 	6.2	 	Communications with Obligors; Borrowers Remain Liable	16
	 	 	 	 	 
	 	6.3	 	[Intentionally Omitted]	17
	 	 	 	 	 
	 	6.4	 	Proceeds to be Turned Over To Administrative Agent	17
	 	 	 	 	 
	 	6.5	 	Application of Proceeds	17
	 	 	 	 	 
	 	6.6	 	Code and Other Remedies	18
	 	 	 	 	 
	 	6.7	 	[Intentionally Omitted]	18
	 	 	 	 	 
	 	6.8	 	Deficiency	18
	 	 	 	 	 
	Section 7 THE ADMINISTRATIVE AGENT	19
	 	 	 	 	 
	 	7.1	 	Administrative Agent’s Appointment as Attorney-in-Fact, etc.	19
	 	 	 	 	 
	 	7.2	 	Duty of Administrative Agent	21
	 	 	 	 	 
	 	7.3	 	Execution of Financing Statements	21
	 	 	 	 	 
	 	7.4	 	Authority of Administrative Agent	21
	 	 	 	 	 
	Section 8 MISCELLANEOUS	21
	 	 	 	 	 
	 	8.1	 	Amendments in Writing	21
	 	 	 	 	 
	 	8.2	 	Notices	21
	 	 	 	 	 
	 	8.3	 	No Waiver by Course of Conduct; Cumulative Remedies	22
	 	 	 	 	 
	 	8.4	 	Enforcement Expenses; Indemnification	22
	 	 	 	 	 
	 	8.5	 	Successors and Assigns	23
	 	 	 	 	 
	 	8.6	 	Set-Off	23
	 	 	 	 	 
	 	8.7	 	Counterparts	23
	 	 	 	 	 
	 	8.8	 	Severability	23
	 	 	 	 	 
	 	8.9	 	Section Headings	23
	 	 	 	 	 
	 	8.10	 	Integration	23
	 	 	 	 	 
	 	8.11	 	GOVERNING LAW	24
	 	 	 	 	 
	 	8.12	 	Submission To Jurisdiction; Waivers	24

 

    -ii-

     

    

 

	 	8.13	 	Acknowledgments	24
	 	 	 	 	 
	 	8.14	 	Releases	25
	 	 	 	 	 
	 	8.15	 	WAIVER OF JURY TRIAL	25

 

    -iii-

     

    

 

	Schedules
	 	 
	Schedule 1	Notice Address of Guarantor
	Schedule 2	Description of Pledged Notes
	Schedule 3	Filings and Other Actions Required to Perfect Security Interest
	Schedule 4	Jurisdiction of Organization, Identification Number and Location of Chief Executive Office
	Schedule 5	Locations of Inventory and Equipment
	Schedule 6	Intellectual Property
	Schedule 7	Deposit Accounts

 

    -iv-

     

    

  

GUARANTEE AND COLLATERAL
AGREEMENT, dated as of September 19, 2017, made by BSPRT BB LOAN, LLC, a Delaware limited liability company (“Borrower
Representative”), BSPRT FINANCE SUB-LENDER II, LLC, a Delaware limited liability company (“BSPRT Finance Sub-Lender”
and, together with Borrower Representative, the “Borrowers”, and each a “Borrower”) and BENEFIT
STREET PARTNERS REALTY TRUST, INC (the “Guarantor”), in favor of BARCLAYS BANK PLC, as Administrative Agent
(in such capacity, the “Administrative Agent”) for the several banks and other financial institutions or entities
from time to time parties to the Credit Agreement (the “Lenders”), dated as of September 19, 2017 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrowers,
the Guarantor, the several banks and other financial institutions or entities from time to time parties to the Credit Agreement
(the “Lenders”) and the Administrative Agent.

 

WITNESSETH:

 

WHEREAS, pursuant to
the Credit Agreement, the Lenders have severally agreed to make extensions of credit to the Borrowers upon the terms and subject
to the conditions set forth therein;

 

WHEREAS, the proceeds
of the extensions of credit under the Credit Agreement will be used in part to enable the Borrowers to make valuable transfers
to the Guarantor in connection with the operation of its business;

 

WHEREAS, the Guarantor
will derive substantial direct and indirect benefit from the extensions of credit under the Credit Agreement; and

 

WHEREAS, it is a condition
precedent to the obligation of the Lenders to make their respective extensions of credit to the Borrowers under the Credit Agreement
that the Borrowers and the Guarantor shall have executed and delivered this Agreement to the Administrative Agent.

 

NOW, THEREFORE, in consideration
of the premises and to induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders
to make their respective extensions of credit to the Borrowers thereunder, each Borrower and the Guarantor, as applicable, hereby
agree with the Administrative Agent, for the benefit of the Secured Parties, as follows:

 

Section 1

DEFINED TERMS

 

1.1       Definitions.
(a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement and the following terms are used herein as defined in the New York UCC: Accounts, Certificated Security,
Chattel Paper, Commercial Tort Claims, Documents, Equipment, Farm Products, General Intangibles, Goods, Instruments, Inventory,
Letter-of-Credit Rights and Supporting Obligations.

 

     

     

    

 

(b)       The
following terms shall have the following meanings:

 

“Agreement”:
this Guarantee and Collateral Agreement, as the same may be amended, restated, supplemented or otherwise modified from time to
time.

 

“Borrower Obligations”:
the collective reference to the unpaid principal of and interest on the Loans and all other obligations and liabilities of the
Borrowers (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after
the maturity of the Loans and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of
any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Borrower,
whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or
any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which
may arise under, out of, or in connection with, the Credit Agreement, the other Loan Documents, or any other document made, delivered
or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities,
costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent
or to the Lenders) in each case that are required to be paid by the Borrowers pursuant to the terms of any of the foregoing agreements.

 

“Collateral”:
as defined in Section 3.

 

“Collateral
Account”: any collateral account established by the Administrative Agent as provided in Section 6.1 or 6.4.

 

“Copyrights”:
(i) all copyrights arising under the laws of the United States, any other country or any political subdivision thereof, whether
registered or unregistered and whether published or unpublished (including, without limitation, those listed in Schedule 6),
all registrations and recordings thereof, and all applications in connection therewith, including, without limitation, all registrations,
recordings and applications in the United States Copyright Office, and (ii) the right to obtain all renewals thereof.

 

“Copyright Licenses”:
any written agreement naming any Borrower as licensor or licensee (including, without limitation, those listed in Schedule 6),
granting any right under any Copyright, including, without limitation, the grant of rights to manufacture, distribute, exploit
and sell materials derived from any Copyright.

 

“Deposit Accounts”:
the accounts listed on Schedule 7, and any other “deposit account”, as such term is defined in the Uniform
Commercial Code of any applicable jurisdiction. The term “deposit account” in the preceding sentence shall be deemed
to include, without limitation, any demand, time, savings, passbook or like account maintained with a depositary institution, established
or held by any Borrower while this Agreement is in effect.

 

    	 	 	2

     

    

 

“Excluded Assets”:
the collective reference to (i) any contract, General Intangible, Copyright License, Patent License or Trademark License (“Intangible
Assets”), in each case to the extent the grant by any Borrower of a security interest pursuant to this Agreement in such
Borrower’s right, title and interest in such Intangible Asset (A) is prohibited by legally enforceable provisions of
any contract, agreement, instrument or indenture governing such Intangible Asset, (B) would give any other party to such contract,
agreement, instrument or indenture a legally enforceable right to terminate its obligations thereunder or (C) is permitted
only with the consent of another party, if the requirement to obtain such consent is legally enforceable and such consent has not
been obtained; provided, that in any event any Receivable or any money or other amounts due or to become due under any such
contract, agreement, instrument or indenture shall not be Excluded Assets to the extent that any of the foregoing is (or if it
contained a provision limiting the transferability or pledge thereof would be) subject to Section 9-406 of the New York UCC.

 

“Guarantor Obligations”:
all obligations and liabilities of the Guarantor which may arise under or in connection with this Agreement (including, without
limitation, Section 2) or any other Loan Document to which the Guarantor is a party, in each case whether on account of guarantee
obligations, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees
and disbursements of counsel to the Administrative Agent or to any Secured Party) in each case that are required to be paid by
the Guarantor pursuant to the terms of this Agreement or any other Loan Document.

 

“Intellectual
Property”: the collective reference to all rights, priorities and privileges relating to intellectual property, whether
arising under United States, multinational or foreign laws or otherwise, including, without limitation, the Copyrights, the Copyright
Licenses, the Patents, the Patent Licenses, the Trademarks and the Trademark Licenses, and all rights to sue at law or in equity
for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom.

 

“Investment
Property”: the collective reference to (i) all “investment property” as such term is defined in Section 9-102(a)(49)
of the New York UCC (other than any Pledged Stock) and (ii) whether or not constituting “investment property”
as so defined, all Pledged Notes.

 

“Issuers”:
the collective reference to each issuer of any Investment Property.

 

“Loan Collateral”:
all Collateral constituting (i) Proposed Borrowing Base Assets then owned by any Borrower (including any Proposed Borrowing
Base Assets which do not become Borrowing Base Assets), (ii) Borrowing Base Assets, (iii) assets owned by any Borrower
which formerly constituted a part of the Borrowing Base, (iv) any assets acquired or originated by any Borrower for the purpose
of adding such assets to the Borrowing Base, including, for the avoidance of doubt, any Pledged Notes or Pledged Stock relating
to such Loan Collateral.

 

“New York UCC”:
the Uniform Commercial Code as from time to time in effect in the State of New York.

 

“Obligations”:
the Borrower Obligations and the Guarantor Obligations.

 

    	 	 	3

     

    

 

“Patents”:
(i) all letters patent of the United States, any other country or any political subdivision thereof, all reissues and extensions
thereof and all goodwill associated therewith, including, without limitation, any of the foregoing referred to in Schedule 6,
(ii) all applications for letters patent of the United States or any other country and all divisions, continuations and continuations-in-part
thereof, including, without limitation, any of the foregoing referred to in Schedule 6, and (iii) all rights to
obtain any reissues or extensions of the foregoing.

 

“Patent License”:
all agreements, whether written or oral, providing for the grant by or to any Borrower of any right to manufacture, use or sell
any invention covered in whole or in part by a Patent, including, without limitation, any of the foregoing referred to in Schedule 6.

 

“Pledged Notes”:
all promissory notes listed on Schedule 2 and all other promissory notes issued to or held by any Borrower (other than
any promissory notes issued in connection with extensions of trade credit by such Borrower in the ordinary course of business and
any promissory notes issued by any Person that is pledged to such Borrower as part of an asset comprising Loan Collateral).

 

“Pledged Stock”:
the shares of Capital Stock listed on Schedule 2, and together with any other shares, stock certificates, options or
rights of any nature whatsoever in respect of the Capital Stock of any Person that may be issued or granted to, or held by, any
Borrower while this Agreement is in effect but, in any case, excluding any Capital Stock or other shares, stock certificates, options
or rights of any nature whatsoever in respect of the Capital Stock of any Person that is pledged to such Borrower as part of an
asset comprising Loan Collateral.

 

“Proceeds”:
all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC in effect on the date hereof
and, in any event, including, without limitation, all dividends or other income from the Investment Property, collections thereon
or distributions or payments with respect thereto.

 

“Receivable”:
any right to payment for goods sold, leased, licensed, assigned or otherwise disposed of, or for services rendered, whether or
not such right is evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including,
without limitation, any Account and any Collection).

 

“Secured Parties”:
the collective reference to the Administrative Agent and the Lenders.

 

“Securities
Act”: the Securities Act of 1933, as amended.

 

“Trademarks”:
(i) all trademarks, trade names, corporate names, company names, business names, fictitious business names, trade styles,
service marks, logos and other source or business identifiers, and all goodwill associated therewith, now existing or hereafter
adopted or acquired, all registrations and recordings thereof, and all applications in connection therewith, whether in the United
States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country
or any political subdivision thereof, or otherwise, and all common-law rights related thereto, including, without limitation, any
of the foregoing referred to in Schedule 6, and (ii) the right to obtain all renewals thereof.

 

    	 	 	4

     

    

 

“Trademark License”:
any agreement, whether written or oral, providing for the grant by or to any Borrower of any right to use any Trademark, including,
without limitation, any of the foregoing referred to in Schedule 6.

 

1.2       Other
Definitional Provisions. (a) The words “hereof,” “herein”,
“hereto” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement
as a whole and not to any particular provision of this Agreement, and Section and Schedule references are to this Agreement unless
otherwise specified.

 

(b)       The
meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms.

 

(c)       Where
the context requires, terms relating to the Collateral or any part thereof, when used in relation to any Borrower, shall refer
to such Borrower’s Collateral or the relevant part thereof.

 

Section 2

GUARANTEE

 

2.1       Guarantee.
(a) The Guarantor hereby unconditionally and irrevocably guarantees to the Administrative Agent, for the ratable benefit of
the Secured Parties and their respective successors, indorsees, transferees and assigns permitted in accordance with Section 9.6
of the Credit Agreement, the prompt and complete payment and performance by the Borrowers when due (whether at stated maturity,
by acceleration or otherwise) of the Borrower Obligations.

 

(b)       Anything
herein or in any other Loan Document to the contrary notwithstanding, the maximum liability of the Guarantor hereunder and under
the other Loan Documents shall in no event exceed the amount which can be guaranteed by the Guarantor under applicable federal
and state laws relating to fraudulent conveyances or transfers or the insolvency of debtors.

 

(c)       The
Guarantor agrees that the Borrower Obligations may at any time and from time to time exceed the amount of the liability of the
Guarantor hereunder without impairing the guarantee of the Guarantor contained in this Section 2 or affecting the rights and
remedies of the Administrative Agent or any Secured Party hereunder.

 

(d)       Subject
to Section 8.15 hereof, the guarantee contained in this Section 2 shall remain in full force and effect until all the
Borrower Obligations and the obligations of the Guarantor under the guarantee contained in this Section 2 shall have been
satisfied by full and final payment in cash and the Revolving Credit Commitments shall be terminated, notwithstanding that from
time to time during the term of the Credit Agreement the Borrowers may be free from any Borrower Obligations; provided,
that Guarantor shall have no liability under this Section 2 with respect to any claims, demands, penalties, fines, liabilities,
settlements, damages, costs and expenses of whatever kind or nature, under or related to Environmental Laws (including, without
limitation, any Environmental Claims) to the extent related to conditions on any Real Property directly or indirectly securing
any Borrowing Base Asset first arising solely after the date upon which the Administrative Agent or any other Secured Party enforces
its remedies with respect to the related Borrowing Base Asset or the Pledged Stock (as defined in the applicable Pledge Agreement)
of the applicable Borrower pursuant to the Loan Documents following an Event of Default.

 

    	 	 	5

     

    

 

(e)       No
payment made by any of the Borrowers, the Guarantor, any other guarantor or any other Person or received or collected by the Administrative
Agent or any Secured Party from any of the Borrowers, the Guarantor, any other guarantor or any other Person by virtue of any action
or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of
the Borrower Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of the Guarantor under this
Section 2 which shall, notwithstanding any such payment (other than any payment made by such Borrower or the Guarantor in
respect of the Borrower Obligations or any payment received or collected from such Borrower or the Guarantor in respect of the
Borrower Obligations), remain liable for the Borrower Obligations up to the maximum liability of the Guarantor hereunder until
the Borrower Obligations are fully and finally paid in cash and the Revolving Credit Commitments are terminated.

 

(f)       The
Guarantor shall pay additional amounts to, and indemnify, each Secured Party (including for purposes of this Section 2, any
permitted assignee, successor or participant) with respect to taxes imposed on payments pursuant to this guarantee to the same
extent as the Borrowers would have paid additional amounts and indemnified such Secured Party with respect to taxes under Sections 2.15
and 2.16 of the Credit Agreement, if the Guarantor were a Borrower under the Credit Agreement. For the avoidance of doubt, any
such payments are in addition to the Guarantor’s obligation to pay any amounts required to be paid by any Borrower to any
Secured Party. The agreements in this Section 2.1(f) shall survive the termination of this guarantee and the payment of the
Loans and all other amounts payable under the Credit Agreement.

 

2.2       Subrogation.
Upon any payment made by the Guarantor hereunder or any set-off or application of funds of the Guarantor by the Administrative
Agent or any Secured Party, the Guarantor shall be subrogated to the rights of the Administrative Agent or any Secured Party against
any Borrower and any collateral security or guarantee or right of offset held by the Administrative Agent or any Secured Party
for the payment of the Borrower Obligations; provided, that the Guarantor shall not seek to enforce any right or receive
any payment by way of subrogation until all the Loans and other Obligations (other than those Obligations (including contingent
reimbursement obligations and indemnity obligations) which, by their express terms, survive termination of this Agreement and the
other Loan Documents) have been paid in full and the Revolving Credit Commitments have been terminated; provided, further,
that such subrogation rights shall be subordinate in all respects to all amounts owing to the Administrative Agent or any Secured
Party under the Loan Documents.

 

    	 	 	6

     

    

 

2.3       Amendments,
etc. with respect to the Borrower Obligations. Until all the Loans and other Obligations have been paid in full and the Revolving
Credit Commitments have been terminated, the Guarantor shall remain obligated hereunder notwithstanding that, without any reservation
of rights against the Guarantor and without notice to or further assent by the Guarantor, any demand for payment of any of the
Borrower Obligations made by the Administrative Agent or any Secured Party may be rescinded by the Administrative Agent or such
Secured Party and any of the Borrower Obligations continued, and the Borrower Obligations, or the liability of any other Person
upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from
time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released
by the Administrative Agent or any Secured Party in accordance with the Loan Documents (with such consent of the Guarantor as shall
be required thereunder), and the Credit Agreement and the other Loan Documents and any other documents executed and delivered in
connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent (or
the Required Lenders or all Lenders, as the case may be) may (with such consent of the Guarantor as shall be required thereunder)
deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Administrative
Agent or any Secured Party for the payment of the Borrower Obligations may (with such consent of the Guarantor as shall be required
thereunder) be sold, exchanged, waived, surrendered or released in accordance with the Loan Documents. Neither the Administrative
Agent nor any Secured Party shall, except to the extent set forth in, and for the benefit of the parties to, the agreements and
instruments governing such Lien or guarantee, have any obligation to protect, secure, perfect or insure any Lien at any time held
by it as security for the Borrower Obligations or for the guarantees contained in this Section 2 or any property subject thereto.

 

2.4       Guarantee
Absolute and Unconditional. The Guarantor waives any and all notice of the creation, renewal, extension or accrual of any of
the Borrower Obligations and notice of or proof of reliance by the Administrative Agent or any Secured Party upon the guarantee
contained in this Section 2 or acceptance of the guarantee contained in this Section 2; the Borrower Obligations, and
any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived,
in reliance upon the guarantee contained in this Section 2; and all dealings between any Borrower and the Guarantor, on the
one hand, and the Administrative Agent and the Secured Parties, on the other hand, likewise shall be conclusively presumed to have
been had or consummated in reliance upon the guarantee contained in this Section 2. The Guarantor waives diligence, presentment,
protest, demand for payment and notice of default or nonpayment to or upon any Borrower with respect to the Borrower Obligations.
The Guarantor understands and agrees that the guarantee of the Guarantor contained in this Section 2 shall be construed as
a continuing, absolute and unconditional guarantee of payment without regard to (i) the validity or enforceability of the
Credit Agreement or any other Loan Document, any of the Borrower Obligations or any collateral security therefor or guarantee or
right of offset with respect thereto at any time or from time to time held by the Administrative Agent or any Secured Party, (ii) any
defense, set-off or counterclaim (other than a defense of payment or performance) which may at any time be available to or be asserted
by any Borrower or any other Person against the Administrative Agent or any Secured Party, or (iii) any other circumstance
whatsoever (with or without notice to or Knowledge of any Borrower or the Guarantor) which constitutes, or might be construed to
constitute, an equitable or legal discharge of any Borrower for the Borrower Obligations, or of the Guarantor under the guarantee
of the Guarantor contained in this Section 2, in bankruptcy or in any other instance. When making any demand hereunder or
otherwise pursuing its rights and remedies hereunder against the Guarantor, the Administrative Agent or any Secured Party may,
but shall be under no obligation to, make a similar demand on or otherwise pursue such rights and remedies as it may have against
any Borrower or any other Person or against any collateral security or guarantee for the Borrower Obligations or any right of offset
with respect thereto, and any failure by the Administrative Agent or any Secured Party to make any such demand, to pursue such
other rights or remedies or to collect any payments from any Borrower or any other Person or to realize upon any such collateral
security or guarantee or to exercise any such right of offset, or any release of any Borrower or any other Person or any such collateral
security, guarantee or right of offset, shall not relieve the Guarantor of any obligation or liability under this Section 2,
and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of the Administrative
Agent or any Secured Party against the Guarantor. For the purposes hereof “demand” shall include the commencement and
continuance of any legal proceedings.

 

    	 	 	7

     

    

 

2.5       Reinstatement.
The guarantee contained in this Section 2 shall continue to be effective, or be reinstated, as the case may be, if at any
time payment, or any part thereof, of any of the Borrower Obligations is rescinded or must otherwise be restored or returned by
the Administrative Agent or any Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of any
Borrower, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer
for, a Borrower or any substantial part of its property, or otherwise, all as though such payments had not been made.

 

2.6       Payments.
The Guarantor hereby guarantees that payments by it hereunder will be paid to the Administrative Agent without set-off or counterclaim
in Dollars at the Payment Office specified in the Credit Agreement.

 

Section 3

GRANT OF SECURITY INTEREST

 

Each Borrower hereby
assigns and transfers to the Administrative Agent, and hereby grants to the Administrative Agent, for the ratable benefit of the
Secured Parties, a security interest in, all of the following property now owned or at any time hereafter acquired by such Borrower
or in which such Borrower now has or at any time in the future may acquire any right, title or interest (collectively, the “Collateral”),
as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration
or otherwise) of the Obligations:

 

(a)       all
Accounts;

 

(b)       all
Chattel Paper;

 

(c)       all
Deposit Accounts;

 

(d)       all
Documents;

 

(e)       all
Equipment;

 

    	 	 	8

     

    

 

(f)       all
General Intangibles;

 

(g)       all
Instruments;

 

(h)       all
Intellectual Property;

 

(i)        all
Inventory;

 

(j)        all
Investment Property;

 

(k)       all
Letter-of-Credit Rights;

 

(l)        all
Commercial Tort Claims;

 

(m)       all
Goods and other property not otherwise described above;

 

(n)       all
books and records pertaining to the Collateral; and

 

(o)       to
the extent not otherwise included, all Proceeds and products of any and all of the foregoing, all Supporting Obligations in respect
of any of the foregoing and all collateral security and guarantees given by any Person with respect to any of the foregoing;

 

provided, that the Collateral shall
not include any Excluded Assets.

 

Section 4

REPRESENTATIONS AND WARRANTIES

 

To induce the Administrative
Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their respective extensions of credit
to the Borrowers thereunder, each Borrower hereby represents and warrants to the Administrative Agent and each Lender that:

 

4.1       Representations
in Credit Agreement. The representations and warranties set forth in Section 3 of the
Credit Agreement as they relate to such Borrower or to the Loan Documents to which such Borrower is a party, each of which is
hereby incorporated herein by reference, are true and correct, and the Administrative Agent and each Lender shall be entitled
to rely on each of them as if they were fully set forth herein.

 

4.2       Title;
No Other Liens. Except for the security interest granted to the Administrative Agent
for the ratable benefit of the Secured Parties pursuant to this Agreement and the other Liens permitted to exist on the Collateral
by the Credit Agreement, such Borrower owns each item of the Collateral free and clear of any and all Liens or claims of others.
No financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any
public office, except such as have been filed in favor of the Administrative Agent, for the ratable benefit of the Secured Parties,
pursuant to this Agreement or as are permitted by the Credit Agreement.

 

    	 	 	9

     

    

 

4.3       Perfected
First Priority Liens. The security interests granted pursuant to this Agreement (a) upon completion of the filings and other
actions specified on Schedule 3 (which, in the case of all filings and other documents referred to on said Schedule, have
been delivered to the Administrative Agent in completed and duly executed form) will constitute valid perfected security interests
in all of the Collateral, to the extent such security interests can be perfected by such filings and the other actions specified
on Schedule 3, in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, as collateral security
for the Obligations, enforceable in accordance with the terms hereof against all creditors of such Borrower and any Persons purporting
to purchase any Collateral from such Borrower, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law) and (b) are prior to all other Liens on the Collateral in existence
on the date hereof except for unrecorded Liens permitted by the Credit Agreement which have priority over the Liens on the Collateral
by operation of law.

 

4.4       Jurisdiction
of Organization; Chief Executive Office. On the date hereof, such Borrower’s jurisdiction
of organization, identification number from the jurisdiction of organization (if any), and the location of such Borrower’s
chief executive office or sole place of business or principal residence, as the case may be, are specified on Schedule 4.
Such Borrower has furnished to the Administrative Agent a certified charter, certificate of formation or other organization document
and good standing certificate as of a date which is recent to the date hereof.

 

4.5       Inventory
and Equipment. On the date hereof, the Borrowers’ Inventory and the Equipment (other than mobile goods) are kept at the
locations listed on Schedule 5.

 

4.6       Farm
Products. None of the Collateral constitutes, or is the Proceeds of, Farm Products.

 

4.7       Investment
Property. (a) Each of the Pledged Notes constitutes the legal, valid and binding obligation of the obligor with respect thereto,
enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether
considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

 

(b)       Such
Borrower is the record and beneficial owner of, and has good and marketable title to, the Investment Property pledged by it hereunder,
free of any and all Liens or options in favor of, or claims of, any other Person, except the security interest created by this
Agreement.

 

4.8       Receivables. (a) No
amount payable to such Borrower under or in connection with any Receivable, excluding any Loan Collateral, as applicable, is
evidenced by any Instrument or Chattel Paper which has not been delivered to the Administrative Agent to the extent required
by Section 5.2.

 

    	 	 	10

     

    

 

(b)       None
of the obligors on any Receivable is a Governmental Authority, except for Receivables constituting not more than 5% of the face
amount of all Receivables.

 

(c)       The
amounts represented by such Borrower to the Secured Parties from time to time as owing to such Borrower in respect of the Receivables
will at such times be accurate.

 

4.9       Intellectual
Property. (a) Schedule 6 lists all Intellectual Property owned by such Borrower in its own name on the date hereof.

 

(b)       On
the date hereof, all material Intellectual Property of such Borrower described on Schedule 6 is valid, subsisting,
unexpired and enforceable, has not been abandoned and does not infringe the intellectual property rights of any other Person.

 

(c)       Except
as set forth in Schedule 6, on the date hereof, none of the Intellectual Property is the subject of any licensing or
franchise agreement pursuant to which such Borrower is the licensor or franchisor.

 

(d)       No
holding, decision or judgment has been rendered by any Governmental Authority which would limit, cancel or question the validity
of, or such Borrower’s rights in, any Intellectual Property in any respect that could reasonably be expected to have a Material
Adverse Effect.

 

(e)       No
action or proceeding is pending, or, to the Knowledge of such Borrower, threatened, on the date hereof (i) seeking to limit, cancel
or question the validity of any material Intellectual Property or such Borrower’s ownership interest therein, or (ii) which,
if adversely determined, would have a material adverse effect on the value of any Intellectual Property.

 

4.10       Deposit
Accounts. Schedule 7 lists all Deposit Accounts established or maintained by such Borrower, including the name
of each account, the account number and the depository or financial institution holding the account.

 

Section 5

COVENANTS

 

Each Borrower covenants
and agrees with the Administrative Agent and the Secured Parties that, from and after the date of this Agreement until the Obligations
(other than those Obligations (including contingent reimbursement obligations and indemnity obligations) which, by their express
terms, survive termination of this Agreement and the other Loan Documents) shall have been paid in full and the Revolving Credit
Commitments shall have terminated:

 

5.1       [Intentionally
Omitted].

 

    	 	 	11

     

    

 

5.2       Delivery
of Instruments and Chattel Paper. Subject to Section 5.12, if any amount payable under or in connection with any of the
Collateral shall be or become evidenced by any Instrument, Certificated Security or Chattel Paper, such Instrument, Certificated
Security or Chattel Paper shall be immediately delivered to the Administrative Agent, duly indorsed in a manner satisfactory to
the Administrative Agent, to be held as Collateral pursuant to this Agreement; provided, that such Borrower shall not be
obligated to deliver to the Administrative Agent any Instruments or Chattel Paper held by such Borrower at any time to the extent
that (i) the same constitutes Loan Collateral, or (ii) the aggregate face amount of all such Instruments and Chattel
Paper held by the Borrowers at such time does not exceed $100,000.

 

5.3       Maintenance
of Insurance. Such Borrower will maintain insurance policies in accordance with Section 5.5(b) of the Credit Agreement.

 

5.4       Payment
of Obligations. Such Borrower will pay and discharge or otherwise satisfy at or before maturity or before they become delinquent,
as the case may be, all taxes, assessments and governmental charges or levies imposed upon the Collateral or in respect of income
or profits therefrom, as well as all claims of any kind (including, without limitation, claims for labor, materials and supplies)
against or with respect to the Collateral, except that no such charge need be paid if the amount or validity thereof is currently
being contested in good faith by appropriate proceedings, reserves in conformity with GAAP with respect thereto have been provided
on the books of such Borrower and such proceedings could not reasonably be expected to result in the sale, forfeiture or loss of
any material portion of the Collateral or any interest therein.

 

5.5       Maintenance
of Perfected Security Interest; Further Documentation. (a) Subject to Section 5.12, such Borrower shall maintain
the security interest created by this Agreement as a perfected security interest having at least the priority described in Section 4.3
and shall defend such security interest against the claims and demands of all Persons whomsoever.

 

(b)       Such
Borrower will furnish to the Administrative Agent and the Lenders from time to time statements and schedules further identifying
and describing the assets and property of such Borrower and such other reports in connection with the Collateral in each case as
the Administrative Agent may reasonably request, all in reasonable detail.

 

(c)       Subject
to Section 5.12, at any time and from time to time, upon the reasonable written request of the Administrative Agent, and at
the sole expense of such Borrower, such Borrower will promptly and duly execute and deliver, and have recorded, such further instruments
and documents and take such further actions as the Administrative Agent may reasonably request for the purpose of obtaining or
preserving the full benefits of this Agreement and of the rights and powers herein granted, including, without limitation, (i) the
filing of any financing or continuation statements under the Uniform Commercial Code (or other similar laws) in effect in any jurisdiction
with respect to the security interests created hereby and (ii) in the case of Investment Property and Deposit Accounts, taking
any actions reasonably necessary to enable the Administrative Agent to obtain “control” (within the meaning of the
applicable Uniform Commercial Code) with respect thereto.

 

    	 	 	12

     

    

 

5.6       Changes
in Name, etc. Such Borrower will not, except upon 15 days’ prior written notice to the Administrative Agent and
delivery to the Administrative Agent of all additional executed financing statements and other documents reasonably requested by
the Administrative Agent to maintain the validity, perfection and priority of the security interests provided for herein:

 

(a)       change
its jurisdiction of organization or the location of its chief executive office or sole place of business or principal residence
from that referred to in Section 4.4; or

 

(b)       change
its name.

 

5.7       Notices.
Such Borrower will advise the Administrative Agent and the Lenders promptly, in reasonable detail, of:

 

(a)       any
Lien (other than security interests created hereby or Liens permitted under the Credit Agreement) on any of the Collateral which
would materially and adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder; and

 

(b)       the
occurrence of any other event which could reasonably be expected to have a material adverse effect on the security interests created
hereby.

 

5.8       Investment
Property. Subject to Section 5.12, without the prior written consent of the Administrative Agent, such Borrower will not,
except as permitted by the Credit Agreement, (i) sell, assign, transfer, exchange, or otherwise dispose of, or grant any option
with respect to, the Investment Property or Proceeds thereof (except pursuant to a transaction expressly permitted by the Credit
Agreement), (ii) create, incur or permit to exist any Lien or option in favor of, or any claim of any Person with respect
to, any of the Investment Property or Proceeds thereof, or any interest therein, except for the security interests created by this
Agreement or (iii) enter into any agreement or undertaking restricting the right or ability of such Borrower or the Administrative
Agent to sell, assign or transfer any Pledged Notes or Proceeds thereof.

 

5.9       Receivables. (a) Other
than in the ordinary course of business consistent with its or its Affiliates’ past practice, such Borrower will not (i) grant
any extension of the time of payment of any Receivable, (ii) compromise or settle any Receivable for less than the full amount
thereof, (iii) release, wholly or partially, any Person liable for the payment of any Receivable, (iv) allow any credit
or discount whatsoever on any Receivable or (v) amend, supplement or modify any Receivable in any manner that could adversely
affect the value thereof, in each case, except as otherwise permitted under the Credit Agreement (including, for the avoidance
of doubt, with respect to the Loan Collateral).

 

(b)       Such
Borrower will deliver to the Administrative Agent a copy of each material demand, notice or document received by it that questions
or calls into doubt the validity or enforceability of more than 5% of the aggregate amount of the then outstanding Receivables
(other than with respect to the Loan Collateral, notice with respect to which shall be governed by the Credit Agreement).

 

    	 	 	13

     

    

 

5.10     Intellectual
Property. (a) Such Borrower (either itself or through licensees) will (i) continue to use each material Trademark
in order to maintain such Trademark in full force free from any claim of abandonment for non-use, (ii) maintain as in the
past the quality of products and services offered under such Trademark, (iii) use such Trademark with the appropriate notice
of registration and all other notices and legends required by applicable Requirements of Law, (iv) not adopt or use any mark
which is confusingly similar or a colorable imitation of such Trademark unless the Administrative Agent, for the ratable benefit
of the Secured Parties, shall obtain a perfected security interest in such mark pursuant to this Agreement, and (v) not (and
not permit any licensee or sublicensee thereof to) do any act or knowingly omit to do any act whereby such Trademark may become
invalidated or impaired in any way.

 

(b)       Such
Borrower (either itself or through licensees) will not do any act, or omit to do any act, whereby any material Patent may become
forfeited, abandoned or dedicated to the public.

 

(c)       Such
Borrower (either itself or through licensees) (i) will employ each material Copyright and (ii) will not (and will not
permit any licensee or sublicensee thereof to) do any act or knowingly omit to do any act whereby any material portion of the Copyrights
may become invalidated or otherwise impaired. Such Borrower will not (either itself or through licensees) do any act whereby any
material portion of the Copyrights may fall into the public domain.

 

(d)       Such
Borrower (either itself or through licensees) will not do any act that knowingly uses any material Intellectual Property to infringe
the intellectual property rights of any other Person.

 

(e)       Such
Borrower will notify the Administrative Agent, on behalf of the Lenders, promptly if it Knows, or has reason to Know, that any
application or registration relating to any material Intellectual Property may become forfeited, abandoned or dedicated to the
public, or of any adverse determination or development (including, without limitation, the institution of, or any such determination
or development in, any proceeding in the United States Patent and Trademark Office, the United States Copyright Office or any court
or tribunal in any country) regarding such Borrower’s ownership of, or the validity of, any material Intellectual Property
or such Borrower’s right to register the same or to own and maintain the same.

 

(f)       Whenever
such Borrower, either by itself or through any agent, employee, licensee or designee, shall file an application for the registration
of any Intellectual Property with the United States Patent and Trademark Office, the United States Copyright Office or any similar
office or agency in any other country or any political subdivision thereof, such Borrower shall report such filing to the Administrative
Agent within five Business Days after the last day of the fiscal quarter in which such filing occurs. Upon request of the Administrative
Agent, such Borrower shall execute and deliver, and have recorded, any and all agreements, instruments, documents, and papers as
the Administrative Agent may reasonably request to evidence the Administrative Agent’s and the Secured Parties’ security
interest in any Copyright, Patent or Trademark and the goodwill and general intangibles of such Borrower relating thereto or represented
thereby.

 

    	 	 	14

     

    

 

(g)       Such
Borrower will take all reasonable and necessary steps, including, without limitation, in any proceeding before the United States
Patent and Trademark Office, the United States Copyright Office or any similar office or agency in any other country or any political
subdivision thereof, to maintain and pursue each application relating to any material Intellectual Property (and to obtain the
relevant registration) and to maintain each registration of the material Intellectual Property, including, without limitation,
filing of applications for renewal, affidavits of use and affidavits of incontestability.

 

(h)       In
the event that any material Intellectual Property is infringed, misappropriated or diluted by a third party, such Borrower shall
(i) take such actions as such Borrower shall reasonably deem appropriate under the circumstances to protect such Intellectual
Property and (ii) if such Intellectual Property is of material economic value, promptly notify the Administrative Agent after
it learns thereof.

 

5.11     Deposit Accounts. (a) Such Borrower will notify the Administrative Agent promptly in writing if it establishes a new Deposit Account
after the Effective Date and shall update Schedule 7 to include such new Deposit Account.

 

(b)       Such
Borrower shall cause all Collections and other revenue derived from any Borrowing Base Asset to be deposited into its Collection
Account in accordance with Section 5.9 and 5.10 of the Credit Agreement.

 

5.12     Loan Collateral. Notwithstanding anything to the contrary in this Agreement, the Administrative Agent, on behalf of itself and the Secured
Parties, hereby (i) agrees that the Borrowers shall not be required to deliver to the Administrative Agent any Collateral
which constitutes Loan Collateral, (ii) waives all requirements under the Credit Agreement, this Agreement or any other Loan
Document for the Borrowers or any of the Loan Parties to perfect, by control or possession, the security interests granted to the
Administrative Agent and the Secured Parties herein with respect to all Loan Collateral or to otherwise provide the Administrative
Agent or the Secured Parties with control or possession over such Loan Collateral, and (iii) agrees that no further acts with
respect to the perfection of the security interests granted to the Administrative Agent shall be required to be taken by the Borrowers,
or shall be taken by the Administrative Agent (other than the filing of financing statements and continuations thereof and, to
the extent applicable, entering into Collection Account Control Agreements), with respect to such Loan Collateral.

 

Section 6

REMEDIAL PROVISIONS

 

6.1       Certain
Matters Relating to Receivables. (a) The Administrative Agent shall have the right,
at any time after the occurrence and during the continuance of an Event of Default, to make test verifications of the Receivables
in any manner and through any medium that it reasonably considers advisable, and each Borrower shall furnish all such assistance
and information as the Administrative Agent may reasonably require in connection with such test verifications.

 

    	 	 	15

     

    

 

(b)       The
Administrative Agent hereby authorizes each Borrower to collect such Borrower’s Receivables, subject to the Administrative
Agent’s direction and control after the occurrence and during the continuance of an Event of Default, and the Administrative
Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default.
If required by the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default, any
payments of Receivables, when collected by any Borrower, (i) shall be forthwith (and, in any event, within two Business Days)
deposited by such Borrower in the exact form received, duly indorsed by such Borrower to the Administrative Agent if required,
in a Collateral Account maintained under the sole dominion and control of the Administrative Agent, subject to withdrawal by the
Administrative Agent for the account of the Secured Parties only as provided in Section 6.5, and (ii) until so turned
over, shall be held by such Borrower in trust for the Administrative Agent and the Secured Parties, segregated from other funds
of such Borrower. Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail
the nature and source of the payments included in the deposit.

 

(c)       Subject
to Section 5.12, at the Administrative Agent’s request, each Borrower shall deliver to the Administrative Agent all
original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables.

 

6.2       Communications
with Obligors; Borrowers Remain Liable. (a) After the occurrence and during the continuance of an Event of Default, the
Administrative Agent in its own name or in the name of others may at any time communicate with obligors under the Receivables to
verify with them to the Administrative Agent’s satisfaction the existence, amount and terms of any Receivables.

 

(b)       Upon
the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default, each
Borrower shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable
benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Administrative Agent.

 

(c)       Anything
herein to the contrary notwithstanding, until the Administrative Agent, on behalf of the Secured Parties, shall have disposed of
or purchased such Receivables pursuant to a foreclosure or other public or private sale, or otherwise transferred such Receivables
to any Person, each Borrower shall remain liable under each of the Receivables (or any agreement giving rise thereto) to observe
and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms
of any agreement giving rise thereto. Neither the Administrative Agent nor any Secured Party shall have any obligation or liability
under any Receivable (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the
Administrative Agent or any Secured Party of any payment relating thereto, nor shall the Administrative Agent or any Secured Party
be obligated in any manner to perform any of the obligations of any Borrower under or pursuant to any Receivable (or any agreement
giving rise thereto), to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it
or as to the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce
any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any
time or times.

 

    	 	 	16

     

    

 

6.3       [Intentionally
Omitted].

 

6.4       Proceeds
to be Turned Over To Administrative Agent. In addition to the rights of the Administrative Agent and the Secured Parties specified
in Section 6.1 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds
received by any Borrower consisting of cash, checks and Instruments shall be held by such Borrower in trust for the Administrative
Agent and the Secured Parties, segregated from other funds of such Borrower, and shall, forthwith upon receipt by such Borrower,
unless deposited in its Collection Account, be turned over to the Administrative Agent in the exact form received by such Borrower
(duly indorsed by such Borrower to the Administrative Agent, if required). All Proceeds received by the Administrative Agent hereunder
shall be held by the Administrative Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds
while held by the Administrative Agent in a Collateral Account (or by a Borrower in trust for the Administrative Agent and the
Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof
until applied as provided in Section 6.5.

 

6.5       Application
of Proceeds. If an Event of Default shall have occurred and be continuing, the Administrative Agent shall apply all or any
part of Proceeds constituting Collateral, whether or not held in a Collection Account or any other Collateral Account, and any
proceeds of the guarantee set forth in Section 2, in payment of the Obligations in the following order:

 

First,
to pay incurred and unpaid fees and expenses of the Administrative Agent required to be paid by the Loan Parties under the Loan
Documents;

 

Second,
to the Administrative Agent, for application by it towards payment of amounts then due and owing and remaining unpaid in respect
of the Obligations, pro rata among the Secured Parties according to the amounts of the Obligations then due and owing and
remaining unpaid to the Secured Parties;

 

Third,
to the Administrative Agent, for application by it towards prepayment of the Obligations, pro rata among the Secured
Parties according to the amounts of the Obligations then held by the Secured Parties; and

 

Fourth,
any balance of such Proceeds remaining after the Obligations (other than those Obligations (including contingent reimbursement
obligations and indemnity obligations) for which a claim for payment has not then been made which, by their express terms, survive
termination of this Agreement and the other Loan Documents) shall have been paid in full and the Revolving Credit Commitments shall
have terminated shall be paid over to the Borrowers or to whomsoever may be lawfully entitled to receive the same.

 

    	 	 	17

     

    

 

6.6       Code
and Other Remedies. If an Event of Default shall occur and be continuing, the Administrative Agent, on behalf of the Secured
Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument
or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party under the New York
UCC or any other applicable law. Without limiting the generality of the foregoing, if an Event of Default shall occur and be continuing,
the Administrative Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind
(except any notice required by law referred to below) to or upon any Borrower or any other Person (all and each of which demands,
defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and
realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase,
or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more
parcels at public or private sale or sales, at any exchange, broker’s board or office of the Administrative Agent or any
Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for
cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent or any Secured Party shall
have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to
purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Borrower, which right
or equity is hereby waived and released. Each Borrower further agrees, at the Administrative Agent’s request, to assemble
the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select,
whether at such Borrower’s premises or elsewhere. The Administrative Agent shall apply the net proceeds of any action taken
by it pursuant to this Section 6.6 with respect to any Borrower’s Collateral, after deducting all reasonable out-of-pocket
costs and expenses incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral of such Borrower
or in any way relating to the Collateral of such Borrower or the rights of the Administrative Agent and the Secured Parties hereunder
with respect thereto, including, without limitation, reasonable attorneys’ fees and disbursements of outside counsel, to
the payment in whole or in part of the Obligations of such Borrower, in the order specified in Section 6.5, and only after
such application and after the payment by the Administrative Agent of any other amount required by any provision of law, including,
without limitation, Section 9-615(a)(3) of the New York UCC, need the Administrative Agent account for the surplus, if any,
to such Borrower. To the extent permitted by applicable law, each Borrower waives all claims, damages and demands it may acquire
against the Administrative Agent or any Secured Party arising out of the exercise by them of any rights hereunder. If any notice
of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper
if given at least 10 days before such sale or other disposition.

 

6.7       [Intentionally
Omitted].

 

6.8       Deficiency.
Each Borrower shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient
to pay its Obligations and the reasonable fees and disbursements of any outside attorneys employed by the Administrative Agent
or any Secured Party to collect such deficiency.

 

    	 	 	18

     

    

 

Section 7

THE ADMINISTRATIVE AGENT

 

7.1       Administrative
Agent’s Appointment as Attorney-in-Fact, etc. (a) Each Borrower hereby irrevocably constitutes and appoints the
Administrative Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact
with full irrevocable power and authority in the place and stead of such Borrower and in the name of such Borrower or in its own
name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and
all documents and instruments which may be reasonably necessary or desirable to accomplish the purposes of this Agreement, and,
without limiting the generality of the foregoing, such Borrower hereby gives the Administrative Agent the power and right, on behalf
of such Borrower, without notice to or assent by such Borrower, to do any or all of the following:

 

(i)        in
the name of such Borrower or its own name, or otherwise, take possession of and indorse and collect any checks, drafts, notes,
acceptances or other instruments for the payment of moneys due under any Receivable or with respect to any other Collateral and
file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Administrative
Agent for the purpose of collecting any and all such moneys due under any Receivable or with respect to any other Collateral whenever
payable;

 

(ii)        in
the case of any Intellectual Property, execute and deliver, and have recorded, any and all agreements, instruments, documents and
papers as the Administrative Agent may request to evidence the Administrative Agent’s and the Secured Parties’ security
interest in such Intellectual Property and the goodwill and general intangibles of such Borrower relating thereto or represented
thereby;

 

(iii)       pay
or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance called
for by the terms of this Agreement and pay all or any part of the premiums therefor and the costs thereof;

 

(iv)      execute,
in connection with any sale provided for in Section 6.6 or 6.7, any indorsements, assignments or other instruments of conveyance
or transfer with respect to the Collateral;

 

    	 	 	19

     

    

 

(v)       (1) direct
any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due thereunder
directly to the Administrative Agent or as the Administrative Agent shall direct; (2) ask or demand for, collect, and receive
payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising
out of any Collateral; (3) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse
receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral;
(4) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to
collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (5) defend any
suit, action or proceeding brought against such Borrower with respect to any Collateral; (6) settle, compromise or adjust
any such suit, action or proceeding and, in connection therewith, give such discharges or releases as the Administrative Agent
may deem reasonably appropriate; (7) assign any Copyright, Patent or Trademark (along with the goodwill of the business to
which any such Copyright, Patent or Trademark pertains), throughout the world for such term or terms, on such conditions, and in
such manner, as the Administrative Agent shall in its sole discretion determine; and (8) generally, sell, transfer, pledge
and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Administrative
Agent were the absolute owner thereof for all purposes, and do, at the Administrative Agent’s option and such Borrower’s
expense, at any time, or from time to time, all acts and things which the Administrative Agent deems reasonably necessary to protect,
preserve or realize upon the Collateral and the Administrative Agent’s and the Secured Parties’ security interests
therein and to effect the intent of this Agreement, all as fully and effectively as such Borrower might do;

 

(vi)      license
or sublicense whether on an exclusive or non-exclusive basis, any Intellectual Property for such term and on such conditions and
in such manner as the Administrative Agent shall in its sole judgment determine and, in connection therewith, such Borrower hereby
grants to the Administrative Agent for the benefit of the Secured Parties a royalty-free, world-wide irrevocable license of its
Intellectual Property; and

 

(vii)     in
the name of such Borrower or its own name, or otherwise, to act in connection with any obligations of any other Loan Party to such
Borrower, including, without limitation, with respect to a proceeding under any Debtor Relief Law, the filing of pleadings or proofs
of claim, the assertion of administrative expenses and the ability to appear and be heard on matters in any court proceeding under
any Debtor Relief Law.

 

The power of attorney
provided for in this Section 7.1(a) is a power coupled with an interest and cannot be revoked until this Agreement is terminated.
Anything in this Section 7.1(a) to the contrary notwithstanding, the Administrative Agent agrees that it will not exercise
any rights under the power of attorney provided for in this Section 7.1(a) unless an Event of Default shall have occurred
and be continuing.

 

(b)       If
any Borrower fails to perform or comply with any of its agreements contained herein, the Administrative Agent, at its option, but
without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement.

 

(c)       Each
Borrower hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof and in accordance with
the terms and conditions of this Agreement. All powers, authorizations and agencies contained in this Agreement are coupled with
an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released.

 

    	 	 	20

     

    

 

7.2       Duty
of Administrative Agent. The Administrative Agent’s sole duty with respect to the custody, safekeeping and physical preservation
of the Collateral in its possession, under Section 9-207 of the New York UCC or otherwise, shall be to deal with it in the
same manner as the Administrative Agent deals with similar collateral for its own account. Neither the Administrative Agent, any
Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand, collect
or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose
of any Collateral upon the request of any Borrower or any other Person or to take any other action whatsoever with regard to the
Collateral or any part thereof. The powers conferred on the Administrative Agent and the Secured Parties hereunder are solely to
protect the Administrative Agent’s and the Secured Parties’ interests in the Collateral and shall not impose any duty
upon the Administrative Agent or any Secured Party to exercise any such powers. The Administrative Agent and the Secured Parties
shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor
any of their officers, directors, employees or agents shall be responsible to any Borrower for any act or failure to act hereunder,
except for their own gross negligence, bad faith or willful misconduct.

 

7.3       Execution
of Financing Statements. Subject to Section 5.12, pursuant to any applicable law, each Borrower authorizes the Administrative
Agent to file or record financing statements and other filing or recording documents or instruments with respect to the Collateral
without the signature of such Borrower in such form and in such offices as the Administrative Agent reasonably determines to be
appropriate to perfect the security interests of the Administrative Agent under this Agreement. Each Borrower authorizes the Administrative
Agent to use the collateral description “all personal property” or “all assets” in any such financing statements.
Each Borrower hereby ratifies and authorizes the filing by the Administrative Agent of any financing statement with respect to
the Collateral made prior to the date hereof.

 

7.4       Authority
of Administrative Agent. Each Borrower acknowledges that the rights and responsibilities of the Administrative Agent under
this Agreement with respect to any action taken by the Administrative Agent or the exercise or non-exercise by the Administrative
Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of
this Agreement shall, as between the Administrative Agent and the Secured Parties, be governed by the Credit Agreement and by such
other agreements with respect thereto as may exist from time to time among them, but, as between the Administrative Agent and the
Borrowers, the Administrative Agent shall be conclusively presumed to be acting as agent for the Secured Parties with full and
valid authority so to act or refrain from acting, and the Borrowers shall not be under any obligation, or entitlement, to make
any inquiry respecting such authority.

 

Section 8

MISCELLANEOUS

 

8.1       Amendments
in Writing. None of the terms or provisions of this Agreement may be waived, amended, restated, supplemented or otherwise modified
except in accordance with Section 9.1 of the Credit Agreement.

 

8.2       Notices.
All notices, requests and demands to or upon the Administrative Agent, the Borrowers or the Guarantor hereunder shall be effected
in the manner provided for in Section 9.2 of the Credit Agreement; provided that any such notice, request or demand
to or upon the Guarantor shall be addressed to the Guarantor at its notice address set forth on Schedule 1.

 

    	 	 	21

     

    

 

8.3       No
Waiver by Course of Conduct; Cumulative Remedies. Neither the Administrative Agent nor any Secured Party shall by any act (except
by a written instrument pursuant to Section 8.1), delay, omission or otherwise be deemed to have waived any right or remedy
hereunder or to have acquiesced in any Default or Event of Default. No failure to exercise, nor any delay in exercising, on the
part of the Administrative Agent or any Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof.
No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or
the exercise of any other right, power or privilege. A waiver by the Administrative Agent or any Secured Party of any right or
remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Administrative Agent or such
Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised
singly or concurrently and are not exclusive of any other rights or remedies provided by law.

 

8.4       Enforcement
Expenses; Indemnification. (a) The Guarantor agrees to pay, or reimburse each Secured Party and the Administrative Agent
for, all its reasonable out-of-pocket costs and expenses incurred in collecting against the Guarantor under the guarantee contained
in Section 2 or otherwise enforcing or preserving any rights under this Agreement and the other Loan Documents to which the
Guarantor is a party, including, without limitation, the reasonable fees and disbursements of outside counsel to each Secured Party
and of outside counsel to the Administrative Agent.

 

(b)       Each
of the Borrowers and the Guarantor agrees to pay, and to save the Administrative Agent and the Secured Parties harmless from, any
and all liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes which
may be payable or determined to be payable with respect to any of the Collateral or in connection with any of the transactions
contemplated by this Agreement.

 

(c)       The
Guarantor agrees to pay, and to save the Administrative Agent and the Secured Parties harmless from, any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect
to the execution, delivery, enforcement, performance and administration of this Agreement to the extent the Borrowers would be
required to do so pursuant to Section 9.5 of the Credit Agreement.

 

(d)       The
agreements in this Section shall survive repayment of the Obligations (other than those Obligations (including contingent reimbursement
obligations and indemnity obligations) which, by their express terms, survive termination of this Agreement and the other Loan
Documents) and all other amounts payable under the Credit Agreement and the other Loan Documents.

 

    	 	 	22

     

    

 

8.5       Successors
and Assigns. This Agreement shall be binding upon the successors and assigns of each Borrower and the Guarantor and shall inure
to the benefit of the Administrative Agent and the Secured Parties and their successors and assigns permitted in accordance with
Section 9.6 of the Credit Agreement; provided that no Borrower or the Guarantor may assign, transfer or delegate any of
its rights or obligations under this Agreement without the prior written consent of the Administrative Agent.

 

8.6       Set-Off.
Each of the Borrowers and the Guarantor hereby irrevocably authorizes the Administrative Agent and each Secured Party at any time
and from time to time while an Event of Default pursuant to Section 7 of the Credit Agreement shall have occurred and be continuing,
without notice to such Borrower or the Guarantor, any such notice being expressly waived by such Borrower and the Guarantor, to
set-off and appropriate and apply any and all deposits (general or special, time or demand, provisional or final), in any currency,
and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent,
matured or unmatured, at any time held or owing by the Administrative Agent or such Secured Party to or for the credit or the account
of such Borrower or the Guarantor, or any part thereof in such amounts as the Administrative Agent or such Secured Party may elect,
against and on account of the obligations and liabilities of such Borrower and the Guarantor to the Administrative Agent or such
Secured Party hereunder and claims of every nature and description of the Administrative Agent or such Secured Party against such
Borrower and the Guarantor, in any currency, whether arising hereunder, under the Credit Agreement, any other Loan Document or
otherwise, as the Administrative Agent or such Secured Party may elect, whether or not the Administrative Agent or any Secured
Party has made any demand for payment and although such obligations, liabilities and claims may be contingent or unmatured. The
Administrative Agent and each Secured Party shall notify each Borrower or the Guarantor promptly of any such set-off and the application
made by the Administrative Agent or such Secured Party of the proceeds thereof; provided that the failure to give such notice
shall not affect the validity of such set-off and application. The rights of the Administrative Agent and each Secured Party under
this Section are in addition to other rights and remedies (including, without limitation, other rights of set-off) which the Administrative
Agent or such Secured Party may have.

 

8.7       Counterparts.
This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including
by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

 

8.8      Severability.
Any provision of this Agreement which is prohibited 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, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

8.9       Section
Headings. The Section headings used in this Agreement are for convenience of reference only and are not to affect the construction
hereof or be taken into consideration in the interpretation hereof.

 

8.10     Integration.
This Agreement and the other Loan Documents represent the agreement of the Borrowers, the Guarantor, the Administrative Agent and
the Secured Parties with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations
or warranties by the Administrative Agent or any Secured Party relative to subject matter hereof and thereof not expressly set
forth or referred to herein or in the other Loan Documents.

 

    	 	 	23

     

    

 

8.11     GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

8.12     Submission
To Jurisdiction; Waivers. Each of Borrowers, the Guarantor, the Administrative Agent and the Secured Parties hereby irrevocably
and unconditionally:

 

(a)       submits
for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which
it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of
the Courts of the State of New York in the City of New York, Borough of Manhattan, the courts of the United States of America
for the Southern District of New York in the Borough of Manhattan, and appellate courts from any thereof;

 

(b)       consents
that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to
the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court
and agrees not to plead or claim the same;

 

(c)       agrees
that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail
(or any substantially similar form of mail), postage prepaid, to such Borrowers, the Guarantor or the Administrative Agent and
the Secured Parties, as applicable, at its address referred to in Section 8.2 or at such other address of which the Administrative
Agent shall have been notified pursuant thereto;

 

(d)       agrees
that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the
right to sue in any other jurisdiction; and

 

(e)        waives,
to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred
to in this Section any special, exemplary, punitive or consequential damages.

 

For avoidance of doubt,
nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent may otherwise have to
bring any action or proceeding relating to this Agreement against any Borrower or the Guarantor or its properties in the courts
of any jurisdiction.

 

8.13     Acknowledgments.
Each of the Borrowers and the Guarantor hereby acknowledges that:

 

(a)       it
has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents to which
it is a party;

 

    	 	 	24

     

    

 

(b)       neither
the Administrative Agent nor any Secured Party has any fiduciary relationship with or duty to such Borrower or the Guarantor arising
out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between such Borrower and
the Guarantor, on the one hand, and the Administrative Agent and Secured Parties, on the other hand, in connection herewith or
therewith is solely that of debtor and creditor; and

 

(c)       no
joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby
among the Secured Parties or among the Borrowers and the Guarantor and the Secured Parties.

 

8.14       Releases.
(a) At such time as the Loans and the other Obligations (other than those Obligations (including contingent reimbursement
obligations and indemnity obligations) which, by their express terms, survive termination of this Agreement and the other Loan
Documents) shall have been paid in full and the Revolving Credit Commitments have been terminated, the Collateral shall automatically
be released from the Liens created hereby, and this Agreement and all obligations (other than those expressly stated to survive
such termination) of the Administrative Agent, any Borrower and the Guarantor hereunder shall automatically terminate, all without
delivery of any additional instrument or performance of any act by any party, and all rights to the Collateral shall revert to
such Borrower. At the request and sole expense of any Borrower following any such termination, the Administrative Agent shall deliver
to such Borrower any Collateral held by the Administrative Agent hereunder, authorize such Borrower to file or record terminations
of any and all financing statements and other recorded documents or instruments filed or recorded pursuant to this Agreement, and
execute and deliver to such Borrower such documents as such Borrower shall reasonably request to evidence such termination.

 

(b)       If
any of the Collateral shall be sold, transferred or otherwise disposed of by any Borrower in a transaction permitted by the Credit
Agreement, then the Administrative Agent, at the request and sole expense of such Borrower, shall upon the request of such Borrower
execute and deliver to such Borrower all releases or other documents reasonably necessary or desirable for the release of the Liens
created hereby on such Collateral.

 

8.15       WAIVER
OF JURY TRIAL. EACH BORROWER AND THE GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE ADMINISTRATIVE AGENT AND EACH
SECURED PARTY, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

    	 	 	25

     

    

  

IN WITNESS WHEREOF, each
of the undersigned has caused this Agreement to be duly executed and delivered as of the date first above written.

 

	 	BSPRT BB LOAN, LLC, 
	 	as a Borrower
	 	 	 
	 	By:	 /s/ Micah Goodman
	 	 	Name: Micah Goodman
	 	 	Title: Authorized Signatory
	 	 	 
	 	BSPRT FINANCE SUB-LENDER II, LLC, 
	 	as a Borrower
	 	 	 
	 	By:	/s/ Micah Goodman
	 	 	Name: Micah Goodman
	 	 	Title: Authorized Signatory
	 	 	 
	 	BENEFIT STREET PARTNERS REALTY TRUST, INC, 
	 	as Guarantor
	 	 	 
	 	By:	/s/ Micah Goodman
	 	 	Name: Micah Goodman
	 	 	Title: Authorized Signatory

 

[Signature Page to Guarantee and Collateral
Agreement]

 

     

     

    

 

	 	BARCLAYS BANK PLC,
	 	as Administrative Agent
	 	 	 
	 	By:	/s/ Craig Malloy
	 	 	Name: Craig Malloy
	 	 	Title: Director

 

[Signature Page to Guarantee and Collateral
Agreement]

 

     

     

    

 

Schedule 1

 

NOTICE ADDRESS OF GUARANTOR

 

	 	Guarantor:	Benefit Street Partners Realty Trust, Inc
	 	 	142 West 57th Street, 12th Floor
	 	 	New York, NY 10019
	 	 	Attention: Micah Goodman, Esq.
	 	 	Telephone: (212) 588-6982 
	 	 	Email: m.goodman@benefitstreetpartners.com
	 	 	 
	 	with a copy to:	Ropes & Gray LLP
	 	 	1211 Avenue of the Americas
	 	 	New York, NY 10036-8704
	 	 	Attention:	David C. Djaha, Esq.
	 	 	Telecopy:	(646) 728-2936
	 	 	Telephone:	(212) 841-0489
	 	 	Email:	David.Djaha@ropesgray.com

 

     

     

    

 

Schedule 2

 

DESCRIPTION OF PLEDGED NOTES

 

Pledged Notes: 

 

BSPRT BB Loan, LLC: None

 

BSPRT Finance Sub-Lender II, LLC: None

 

     

     

    

 

Schedule 3

 

FILINGS AND OTHER ACTIONS

REQUIRED TO PERFECT SECURITY INTERESTS

 

Uniform Commercial Code Filings

 

BSPRT BB Loan, LLC - Delaware Secretary
of State

BSPRT Finance Sub-Lender II, LLC - Delaware
Secretary of State

 

Patent and Trademark Filings

 

None

 

Other Actions

 

None

 

     

     

    

 

Schedule 4

 

JURISDICTION OF ORGANIZATION, IDENTIFICATION
NUMBER AND

LOCATION OF CHIEF EXECUTIVE OFFICE

 

	Borrower	 	Jurisdiction of

    Organization	 	Identification

    Number	 	Location of Chief

    Executive Office
	BSPRT BB Loan, LLC	 	Delaware	 	5562472	 	
        142 W 57 Street, Suite 1201

        New York, NY 10019

	 	 	 	 	 	 	 
	BSPRT Finance Sub-Lender II, LLC	 	Delaware	 	6494618	 	
        142 W 57 Street, Suite 1201

        New York, NY 10019

 

     

     

    

 

Schedule 5

 

LOCATIONS OF INVENTORY AND EQUIPMENT

 

	Borrower	 	Locations
	 	 	 
	BSPRT BB Loan, LLC	 	None
	 	 	 
	BSPRT Finance Sub-Lender II, LLC	 	None 

 

     

     

    

 

Schedule 6

 

INTELLECTUAL PROPERTY

 

I.       Copyrights
and Copyright Licenses:

 

BSPRT BB
Loan, LLC: None

 

BSPRT Finance
Sub-Lender II, LLC: None

 

II.      Patents
and Patent Licenses:

 

BSPRT BB
Loan, LLC: None

 

BSPRT Finance
Sub-Lender II, LLC: None

 

III.     Trademarks
and Trademark Licenses:

 

BSPRT BB
Loan, LLC: None

 

BSPRT Finance
Sub-Lender II, LLC: None

 

     

     

    

 

Schedule 7

 

DEPOSIT ACCOUNTS

 

Controlled Accounts (subject to the
respective Collection Account Control Agreement):

 

BSPRT BB LOAN, LLC:

 

Bank: Wells Fargo Bank, N.A.

 

ABA #: 121000248

 

Deposit Acct No.: 4124407255

 

Deposit Account Name: BSPRT BB Loan LLC for
the Benefit of Barclays Bank PLC as secured party

 

BSPRT FINANCE SUB-LENDER II, LLC:

 

Bank: Wells Fargo Bank, N.A.

 

ABA #: 121000248

 

Deposit Acct No.: 4125007138

 

Deposit Account Name: BSPRT Finance Sub-Lender
II LLC for the Benefit of Barclays Bank PLC as secured partyBlueprint

  Exhibit 10.1

 

LOCK-UP AND NO SHORTING AGREEMENT

 

This
LOCK-UP AND NO SHORTING AGREEMENT (this “Agreement”) is made as of
_______ __, 2017, by and between the undersigned person or entity
(the “Restricted
Holder”) and Sincerity Applied Materials Holdings
Corp. (formerly known as Symbid Corp.), a Nevada corporation (the
“Parent”). Capitalized
terms used and not otherwise defined herein shall have the meanings
given to such terms in the Acquisition Agreement (as defined
below).

 

WHEREAS, pursuant
to the transactions contemplated under that certain Acquisition
Agreement, dated as of June 5, 2017, as amended on each of July
7,2107,July 21,2017, August 15, 2017, August 23,2107, September
1,2017 and September 15,2017 (the “Acquisition Agreement”),
by and among the Parent, Sincerity Australia Pty Ltd., an
Australian corporation (“SAPL”) and the sole
shareholder/member of SAPL, SAPL will become a wholly owned
subsidiary of Parent, and all of the outstanding capital stock of
SAPL will be exchanged for shares of common stock of the Parent,
par value $0.001 per share (the “Parent Common Stock”) on
the terms set forth in the Acquisition Agreement (the
“Acquisition”);

 

WHEREAS, in
consideration with the closing of the Acquisition, Parent will
complete the initial closing under a private placement offering
(the “Private
Placement Offering”) of a minimum of $150,000 and a
maximum of $500,000in units of Parent securities (the
“Units”), each Unit
consisting of (i) one 12% Senior Secured Convertible Note (the
“Note”)
with a term of 13 months in the face (principal) amount of $10,000
convertible in the manner and on the terms set forth in the Note,
and (ii) one warrant (the “Warrant”) to purchase shares
of Common Stock exercisable in the manner and on the terms set
forth in the Warrant; and

 

WHEREAS, the
closing of the Acquisition and the Private Placement Offering are
each conditioned on, among other things, the Restricted
Holder’s entering into this Agreement with the
Parent;

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby
agree as follows:

 

1. Definitions.

 

 

(a) “Affiliate” shall have the
meaning set forth in Rule 405 under the Securities Act of 1933, as
amended (the “Securities
Act”).

 

(b) “Business Day” means any
day other than a Saturday, a Sunday or a day on which banks in the
state of New York are required or authorized by applicable law to
close.

 

(c) “Change of Control” means
the transfer (whether by tender offer, Acquisition, consolidation
or other similar transaction), in one transaction or a series of
related transactions, to a person or group of Affiliated persons,
of the Parent’s voting securities if, after such transfer,
such person or group of Affiliated persons would hold more than 50%
of the outstanding voting securities of the Parent (or the
surviving entity).

 

 

 

(d) “Immediate Family” means
any relationship by blood, domestic partnership, marriage or
adoption, not more remote than first cousin.“Restricted Period” means
the period of twenty-four (24) months commencing on the Closing
Date of the Acquisition.

 

(e) “Restricted Securities”
means all shares of Parent Common Stock held by the Restricted
Holder and all securities held by the Restricted Holder that are
convertible into or exercisable or exchangeable for shares of
Parent Common Stock, in each case held immediately following the
closing of the Private Placement Offering or thereafter acquired by
any means (including, for the avoidance of doubt, any shares of
Parent Common Stock or other securities of Parent received by the
Restricted Holder pursuant to the Acquisition Agreement), and
whether held beneficially or of record, but excluding any shares of Parent
Common Stock purchased by the Restricted Holder in the Private
Placement Offering or in the open market following the Private
Placement Offering.

 

2. Restrictions.

 

(a) During the
Restricted Period, the Restricted Holder will not, directly or
indirectly: (i) offer, sell, assign, transfer, pledge, hypothecate,
contract to sell, grant an option to purchase or otherwise dispose
of, or announce the intention to so dispose of, any Restricted
Securities or (ii) enter into any swap, hedge or similar agreement
or arrangement that transfers, in whole or in part, the economic
consequence of ownership of any Restricted Securities (the actions
described in clause (i) or (ii) above being hereinafter referred to
as a “Disposition”). The
foregoing restrictions are expressly agreed to preclude the
Restricted Holder from engaging in any hedging or other transaction
which is designed to or which reasonably could be expected to lead
to or result in a sale or disposition of any of the Restricted
Securities of the Restricted Holder during the Restricted Period,
even if such securities would be disposed of by someone other than
the Restricted Holder.

 

(b) In addition, during
the period of twelve (12) months commencing on the Closing Date of
the Acquisition, the Restricted Holder will not, and the Restricted
Holder will cause its Affiliates not to, directly or indirectly,
effect or agree to effect any short sale (as defined in Rule 200
under Regulation SHO of the Securities Exchange Act of 1934, as
amended, (the “Exchange Act”)) with
respect to any shares of Parent Common Stock, whether or not
against the box, establish any “put equivalent
position” (as defined in Rule 16a-1(h) under the Exchange
Act) with respect to any shares of Parent Common Stock, borrow or
pre-borrow any shares of Parent Common Stock, or grant any other
right (including, without limitation, any put or call option) with
respect to shares of the Parent Common Stock or with respect to any
security that includes, is convertible into or exercisable for or
derives any significant part of its value from shares of the Parent
Common Stock or otherwise seek to hedge the Restricted
Holder’s position in the Parent Common Stock.

 

(c) Notwithstanding
anything contained herein to the contrary, the restrictions set
forth in Section
2(a) shall not
apply:

 

(i) if the
Restricted Holder is a natural person, any transfers made by the
Restricted Holder (A) to any member of the Immediate Family of the
Restricted Holder or to a trust the direct or indirect
beneficiaries of which are exclusively the Restricted Holder or
members of the Restricted Holder’s Immediate Family, or (B)
by bona fide gift, will or intestacy;

 

 

 

 

(ii) if the Restricted Holder is a
corporation, partnership, limited liability company or other
business entity, any transfers to a charitable organization, or to
any stockholder, partner, manager, director, officer, Affiliate,
employee or member of, or owner of a similar equity interest in,
the Restricted Holder or its Affiliates, as the case may
be;

 

(iii) if the Restricted Holder is a
corporation, partnership, limited liability company or other
business entity, any transfer made by the Restricted
Holder:

 

(A)     
in connection with the sale or other bona fide transfer in a single
transaction of all or substantially all of the Restricted
Holder’s capital stock, partnership interests, membership
interests or other similar equity interests, as the case may be, or
all or substantially all of the Restricted Holder’s assets,
in any such case not undertaken for the purpose of avoiding the
restrictions imposed by this Agreement,

 

(B)       
to another corporation, partnership, limited liability company or
other business entity so long as the transferee is an Affiliate of
the Restricted Holder, or

 

(C)      
to any investment fund or other entity that controls or manages the
Restricted Holder (including, for the avoidance of doubt, a fund
managed by the same manager or managing member or general partner
or management company or by an entity controlling, controlled by,
or under common control with such manager or managing member or
general partner or management company as the Restricted Holder) if
such transfer is not for value;

 

(iv) if the Restricted Holder is a
trust, to a trustor or beneficiary of the trust if such transfer is
not for value;

 

(v) any transfers
of Restricted Securities to the Parent upon a vesting event or upon
the exercise of options or warrants to purchase the Parent’s
securities, in each case on a “cashless” or “net
exercise” basis, including to cover tax withholding
obligations of the Restricted Holder in connection with such
vesting or exercise (and for the avoidance of doubt, any securities
issued to the Restricted Holder upon such exercise shall be
Restricted Securities subject to the restrictions set forth
herein);

 

(vi) any transfers of the Restricted
Securities pursuant to a court order or by operation of law,
including pursuant to a domestic order or a negotiated divorce
settlement;

 

(vii) any
transfers of the Restricted Securities to the Parent pursuant to
agreements under which the Parent has the option to repurchase such
Restricted Securities or the Parent has a right of first refusal
with respect to transfers of such Restricted
Securities;

 

(viii) any transfers of the Restricted
Securities pursuant to a bona fide third-party tender offer,
acquisition, consolidation or other similar transaction made to all
holders of Restricted Securities involving a Change of Control of
the Parent (it being further understood that this Agreement shall
not restrict the undersigned from entering into any agreement or
arrangement in connection therewith, including an agreement to vote
in favor of, or tender Restricted Securities or other securities of
the Parent in, any such transaction or taking any other action in
connection with any such transaction), provided that the
restrictions set forth herein shall continue to apply should the
completion of such transaction not occur, and provided, further,
that such transaction has been approved by the Board of Directors
of Parent.

 

 

 

(ix) The exercise of any right with
respect to, or the taking of any other action in preparation for, a
registration by the Parent of Restricted Securities;
or

 

(x) Any Disposition
by a Restricted Holder where the other party to such Disposition is
another Restricted Holder.

 

provided, however, that

 

(A)         in
the case of any transfer described in clause (i), (ii), (iii), (iv)
or (vi) above, it shall be a condition to the transfer that the
transferee execute and deliver to the Parent, not later than one
Business Day prior to such transfer, a written agreement in
substantially the form of this Agreement covering the transferred
Restricted Securities for the balance of the Restricted Period (it
being understood that any references to “Immediate Family” in the
agreement executed by such transferee shall expressly refer only to
the Immediate Family of the Restricted Holder and not to the
Immediate Family of the transferee) and otherwise reasonably
satisfactory in form and substance to the Parent;

 

(B)         in
the case of any transfer described in clause (i), (ii), (iii),
(iv), (vi) or (x) above, such transfers are not required to be
reported under Section 16 of the Exchange Act, and the Restricted
Holder does not otherwise voluntarily effect any public filing or
report regarding such transfers during the Restricted Period (other
than a filing on Form 5);

 

(C)         in
the case of any transfer to the Parent described in clause (v)
above, if the transfer is required to be reported under Section 16
of the Exchange Act, any filing under Section 16 of the Exchange
Act related to such transfer shall clearly indicate in the
footnotes thereto that (a) the filing relates to the circumstances
described in clause (v) above, (b) no shares were sold by the
reporting person and (c) any remaining shares received upon
exercise of an option or a warrant (net of any shares transferred
in connection with such “cashless” or “net
exercise” to cover tax withholding obligations) or the
remaining vested shares are subject to a written agreement with the
Parent in substantially the form of this Agreement for the balance
of the Restricted Period; and

 

(D)         in
the case of any transfer described in clause (viii) above, in the
event that the tender offer, acquisition, consolidation or other
such transaction is not completed, the Restricted Securities owned
by the Restricted Holder shall remain subject to the restrictions
contained in this Agreement; and

 

(E)         in
the case of clause (ix) above, no actual transfer or other
Disposition of the Restricted Holder’s Restricted Securities
registered pursuant to the exercise of such rights under clause
(ix) shall occur during the Restricted Period.

 

 

 

 

(d) Furthermore, during
the Restricted Period, the Restricted Holder may exercise any
rights to purchase, exchange or convert any stock options granted
to the Restricted Holder pursuant to the Parent’s equity
incentive plans or awards existing after the closing of the
Acquisition or warrants or any other securities held by the
Restricted Holder after the closing of the Acquisition, which
securities are convertible into or exchangeable or exercisable for
Parent Common Stock, and the Restricted Holder agrees that the
shares of Parent Common Stock received upon such exercise,
purchase, exchange or conversion shall be and remain Restricted
Securities subject to the terms of this Agreement.

 

(e) In addition, the
restrictions set forth in Section 2(a) shall not apply to the
repurchase of Restricted Securities by the Parent in connection
with the termination of the Restricted Holder’s employment or
other service with the Parent or any of its
subsidiaries.

 

(f) Notwithstanding
anything herein to the contrary, nothing herein shall prevent the
Restricted Holder from establishing a 10b5-1 trading plan that
complies with Rule 10b5-1 under the Exchange Act
(“10b5-1 Trading
Plan”) or from amending an existing 10b5-1 Trading
Plan so long as there are no sales or other Dispositions of
Restricted Securities under such plans during the Restricted
Period; and provided that
no public announcement or filing under the Exchange Act, if any, is
required or voluntarily made by or on behalf of the Restricted
Holder or the Parent during the Restricted Period regarding the
establishment of a 10b5-1 Trading Plan or the amendment of a 10b5-1
Trading Plan.

 

3. Legends; Stop Transfer
Instructions.

 

(a) In addition to any
legends to reflect applicable transfer restrictions under federal
or state securities laws, each certificate representing Restricted
Securities shall be stamped or otherwise imprinted with the
following legend:

 

“THE
SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND
CONDITIONS OF A LOCK-UP AND NO SHORTING AGREEMENT, DATED AS OF
SEPTEMBER 19, 2017, BETWEEN THE HOLDER HEREOF AND THE ISSUER, AND
MAY ONLY BE SOLD OR TRANSFERRED IN ACCORDANCE WITH THE TERMS
THEREOF.”

 

(b) The Restricted
Holder hereby agrees and consents to the entry of stop transfer
instructions with the Parent’s transfer agent and registrar
against the transfer of the Restricted Securities except in
compliance with this Agreement.

 

4. Miscellaneous.

 

(a) Material Inducement and
Consideration.  The Restricted Holder acknowledges
and agrees that its entering into this Agreement with Parent and
its covenants and agreements herein are a material inducement to
the Parent’s entering into the Acquisition Agreement and
proceeding with the Acquisition and the Private Placement Offering,
and Parent’s so doing constitute valuable consideration to
the Restricted Holder.

 

 

 

 

(b) Specific
Performance.  The Restricted Holder agrees that in
the event of any breach or threatened breach by the Restricted
Holder of any covenant, obligation or other provision contained in
this Agreement, then the Parent shall be entitled (in addition to
any other remedy that may be available to the Parent) to: (i) a
decree or order of specific performance or mandamus to enforce the
observance and performance of such covenant, obligation or other
provision; and (ii) an injunction restraining such breach or
threatened breach. The Restricted Holder further agrees that
neither the Parent nor any other person or entity shall be required
to obtain, furnish or post any bond or similar instrument in
connection with or as a condition to obtaining any remedy referred
to in this Section, and the Restricted Holder irrevocably waives
any right that he, she, or it may have to require the obtaining,
furnishing or posting of any such bond or similar
instrument.

 

(c) Other
Agreements.  Nothing in this Agreement shall limit
any of the rights or remedies of the Parent under the Acquisition
Agreement, or any of the rights or remedies of the Parent or any of
the obligations of the Restricted Holder under any other agreement
between the Restricted Holder and the Parent or any certificate or
instrument executed by the Restricted Holder in favor of the
Parent; and nothing in the Acquisition Agreement or in any other
agreement, certificate or instrument shall limit any of the rights
or remedies of the Parent or any of the obligations of the
Restricted Holder under this Agreement.

 

(d) Notices.  All
notices, consents, waivers, and other communications which are
required or permitted under this Agreement shall be in writing and
will be deemed given to a party (i) on the date of delivery, if
delivered to the appropriate address by hand or by nationally
recognized overnight courier service (costs prepaid); (ii) the date
of transmission if sent by facsimile or e-mail with confirmation of
transmission by the transmitting equipment if such notice or
communication is delivered prior to 5:00 P.M., Eastern Time, on a
Business Day, or the next Business Day after the date of
transmission, if such notice or communication is delivered on a day
that is not a Business Day or later than 5:00 P.M., Eastern Time,
on a Business Day; (iii) the date received or rejected by the
addressee, if sent by certified mail, return receipt requested; or
(iv) seven days after the placement of the notice into the mails
(first class postage prepaid), to the party at the address,
facsimile number, or e-mail address furnished by the such
party,

 

	

If to
the Parent:

 

	
 

	

With a
copy (which copy shall not constitute notice hereunder)
to:

 

	
 

	

Sincerity Applied
Materials Holdings Corp.

P.O.
Box 374

100
Toorak Road

South
Yarra, V1C 3141

Attn:  Mr.
Zhang Yiwen, CEO

 

	
 

	

CKR Law
LLP

1330
Avenue of the Americas

14th
Floor

New
York, NY 10019

Attn:  Scott
Rapfogel

Facsimile:  212.259.8200

 

	
 

	

If to
the Restricted Holder:

To the
address set forth on the signature page hereto.

 

 

 

 

Any
party may give any notice, request, demand, claim or other
communication hereunder using any other means (including personal
delivery, expedited courier, messenger service, telecopy, telex,
ordinary mail or electronic mail), but no such notice, request,
demand, claim or other communication shall be deemed to have been
duly given unless and until it actually is received by the party
for whom it is intended. Any party may change the address to which
notices, requests, demands, claims, and other communications
hereunder are to be delivered by giving the other Parties notice in
the manner herein set forth.

 

(e) Severability.  Any
term or provision of this Agreement that is invalid or
unenforceable in any situation in any jurisdiction shall not affect
the validity or enforceability of the remaining terms and
provisions hereof or the validity or enforceability of the
offending term or provision in any other situation or in any other
jurisdiction. If the final judgment of a court of competent
jurisdiction declares that any term or provision hereof is invalid
or unenforceable, the parties hereto agree that the court making
such determination shall have the power to limit the term or
provision, to delete specific words or phrases, or to replace any
invalid or unenforceable term or provision with a term or provision
that is valid and enforceable and that comes closest to expressing
the intention of the invalid or unenforceable term or provision,
and this Agreement shall be enforceable as so modified. In the
event such court does not exercise the power granted to it in the
prior sentence, the parties hereto agree to replace such invalid or
unenforceable term or provision with a valid and enforceable term
or provision that will achieve, to the extent possible, the
economic, business and other purposes of such invalid or
unenforceable term.

 

(f) Applicable Law;
Jurisdiction.  THIS AGREEMENT IS MADE UNDER, AND
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
SOLELY THEREIN, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF
LAW. In any action between or among any of the parties arising out
of this Agreement, (i) each of the parties irrevocably and
unconditionally consents and submits to the exclusive jurisdiction
and venue of the courts of the State of Ohio sitting in Cincinnati,
and the United States District Court for the Southern District of
Ohio sitting in Cincinnati; (ii) if any such action is
properly commenced in a state court, then, subject to applicable
law, no party shall object to the removal of such action to such
United States District Court; (iii) EACH OF THE PARTIES
IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY; and (iv) each
of the parties irrevocably consents to service of process (in
addition to any other means of service authorized by law) by first
class certified mail, return receipt requested, postage prepared,
to the address at which such party is to receive notice in
accordance with this Agreement.

 

(g) Waiver;
Termination.  No failure on the part of the Parent
to exercise any power, right, privilege or remedy under this
Agreement, and no delay on the part of the Parent in exercising any
power, right, privilege or remedy under this Agreement, shall
operate as a waiver of such power, right, privilege or remedy; and
no single or partial exercise of any such power, right, privilege
or remedy shall preclude any other or further exercise thereof or
of any other power, right, privilege or remedy. The Parent shall
not be deemed to have waived any claim arising out of this
Agreement, or any power, right, privilege or remedy under this
Agreement, unless the waiver of such claim, power, right, privilege
or remedy is expressly set forth in a written instrument duly
executed and delivered on behalf of the Parent; and any such waiver
shall not be applicable or have any effect except in the specific
instance in which it is given. If the Acquisition Agreement is
terminated, this Agreement shall thereupon terminate.

 

 

 

 

(h) Captions.  The
captions contained in this Agreement are for convenience of
reference only, shall not be deemed to be a part of this Agreement
and shall not be referred to in connection with the construction or
interpretation of this Agreement.

 

(i) Further
Assurances.  The Restricted Holder hereby
represents and warrants that the Restricted Holder has full power
and authority to enter into this Agreement and that this Agreement
has been duly authorized (if the Restricted Holder is not a natural
person), executed and delivered by the Restricted Holder and is a
valid and binding agreement of the Restricted Holder.

 

(j) Entire
Agreement.  This Agreement sets forth the entire
understanding of the Parent and the Restricted Holder relating to
the subject matter hereof and supersedes all other prior agreements
and understandings between the Parent and the Restricted Holder
relating to the subject matter hereof.

 

(k) Non-Exclusivity.  The
rights and remedies of the Parent hereunder are not exclusive of or
limited by any other rights or remedies which the Parent may have,
whether at law, in equity, by contract or otherwise, all of which
shall be cumulative (and not alternative).

 

(l) Amendments.  This
Agreement may not be amended, modified, altered or supplemented
other than by means of a written instrument duly executed and
delivered on behalf of the Parent and the Restricted
Holder.

 

(m) Binding Nature.  This
Agreement and all authority herein conferred are irrevocable and
shall survive the death or incapacity of the Restricted Holder (if
a natural person) and shall be binding upon the heirs, personal
representatives, successors and assigns of the Restricted
Holder.

 

(n) Survival.  Each of
the representations, warranties, covenants and obligations
contained in this Agreement shall survive the consummation of the
Acquisition.

 

(o) Counterparts.  This
Agreement may be executed in separate counterparts, each of which
shall be deemed an original and both of which shall constitute one
and the same instrument.

 

 

[Signature Page Follows]

 

 

 

 

IN
WITNESS WHEREOF, the undersigned has executed and delivered this
Agreement as of the date first set forth above.

 

	
 

	
SINCERITY APPLIED MATERIALS HOLDINGS
CORP.
 

 

By: ____________________________________________

 

Name:Korstiaan Zandvliet

Title:CEO

                                                     

 

RESTRICTED HOLDER:

 

	

If an individual:

	
 

	

If an entity:

	
 

	
 

	

Print
Name of Entity:

	

Sign:                                                               

	
 

	
 

	

Print
Name:  

	
 

	
 

	
 

	
 

	

By
(sign):                                                               

	
                                                              

	
 

	

Print
Name:

	

Signature (if Joint Tenants or Tenants
in Common)

	
 

	

Print
Title:

	
 

	
 

	
 

	

Address:

                                                             

                                                             

                                                              

 

 

 

	
 

	

Address:

_

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}]]