Document:

Exhibit 10.1 - Tenth Amendment to Receivables Purchase Agreement dated as of November 25, 2014

Exhibit 10.1

EXECUTION VERSION
TENTH AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT
This TENTH AMENDMENT (this “Amendment”), dated as of November 25, 2014, is among TRIUMPH RECEIVABLES, LLC, a Delaware limited liability company, as seller (the “Seller”), TRIUMPH GROUP, INC., a Delaware corporation (“Triumph”), as servicer (in such capacity, together with its successors and permitted assigns in such capacity, the “Servicer”), PNC BANK, NATIONAL ASSOCIATION, a national banking association (“PNC”), as a related committed purchaser (in such capacity, together with its successors and permitted assigns in such capacity, the “Purchaser”), as purchaser agent (in such capacity, together with its successors and permitted assigns in such capacity, the “Purchaser Agent”), and as administrator (in such capacity, together with its successors and permitted assigns in such capacity, the “Administrator”).  Capitalized terms used but not otherwise defined herein have the respective meanings assigned thereto in the Agreement (as defined below).
RECITALS
1.    The Seller, the Servicer, the Purchaser, the Purchaser Agent and the Administrator are parties to the Receivables Purchase Agreement, dated as of August 7, 2008 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Agreement”).
2.    Concurrently herewith, the Seller, the Servicer, PNC, as depository bank, and the Administrator are entering into that certain Amendment No. 4 to Blocked Account Agreement, dated as of the date hereof (the “Blocked Account Amendment”).
3.    Concurrently herewith and pursuant to that certain Joinder Agreement, dated as of the date hereof, Triumph Engine Control Systems, LLC (“Engine Control”), is becoming a party to the Sale Agreement, as an Originator thereunder (the “Engine Control Joinder”).
4.    Concurrently herewith and pursuant to that certain Joinder Agreement, dated as of the date hereof, Triumph Actuation Systems - Yakima, LLC (“Yakima”), is becoming a party to the Sale Agreement, as an Originator thereunder (the “Yakima Joinder”).
5.    Concurrently herewith, the parties hereto are entering into a Sixth Amended and Restated Purchaser Group Fee Letter, dated as of the date hereof (the “A&R Fee Letter”).
6.    Concurrently herewith, the Servicer, the Seller, Engine Control, Yakima and the existing Originators are entering into a Fifth Amendment to Purchase and Sale Agreement, dated as of the date hereof (the “PSA Amendment”).
7.    Concurrently herewith, the Seller, the Servicer, Engine Control, Yakima, the existing Originators and the Administrator are entering into that certain Fourth Amendment to Sub-Servicing Letter Agreement, dated as of the date hereof (the “Sub-Servicing Amendment”; together with the Blocked Account Amendment, the Engine Control Joinder, the Yakima Joinder, the A&R Fee Letter and the PSA Amendment, collectively, the “Related Agreements”).
8.    The Seller, the Servicer, the Purchaser, the Purchaser Agent and the Administrator desire to amend the Agreement as hereinafter set forth.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
SECTION 1. Amendments to the Agreement.  The Agreement is hereby amended as follows:
(a)The following new Section 6.18 is hereby added to the Agreement immediately following existing Section 6.17 thereof:
Section 6.18    Joinder of Originators.  Each of the parties hereto hereby acknowledge and agree that solely in connection with the joinder of any additional Person as an “Originator” under the Sale Agreement pursuant to Section 4.3 of the Sale Agreement, that so long as each of the Joinder Conditions are satisfied as of the date of such joinder, then neither the Administrator nor any Purchaser or Purchaser Agent shall require any Material Amendment to this Agreement solely in connection with such joinder.
For purposes of this Section 6.18, the terms set forth below shall have the following meanings:
“Joinder Conditions” means each of the following conditions: (i) no Termination Event or Unmatured Termination Event has occurred and is continuing or would result from such joinder, (ii) each of the conditions set forth in Section 4.3 of the Sale Agreement have been satisfied before the date of such joinder and (iii) such additional Person is both (A) organized under the laws of a State of the United States and (B) a Small New Originator.
“Material Amendment” means an amendment to any of the following: (i) the definition of “Eligible Receivable”, “Loss Reserve”, “Loss Reserve Percentage”, “Dilution Reserve”, “Dilution Reserve Percentage”, “Yield Reserve”, “Dilution Component Reserve”, “Net Receivables Pool Balance”, “Excess Concentration” or “Total Reserves” or (ii) any “Termination Event” set forth on Exhibit V; provided, however, that  “Material Amendment” shall not include an amendment to any of the following: (i) Schedule II to this Agreement or (ii) the definition of “Excluded Receivable”.
“Small New Originator” means any Person that is joined to the Sale Agreement as an “Originator” pursuant to Section 4.3 thereof that satisfies each of the following conditions immediately prior to the effectiveness of its addition: (i) the aggregate Outstanding Balance of all Receivables originated by such Person does not exceed 10% of the aggregate Outstanding Balance of all Receivables then in the Receivables Pool and (ii) the aggregate credit sales made by such Person during the prior twelve (12) calendar months does 

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not exceed 10% of the aggregate credit sales made by all Originators during the prior twelve (12) calendar months.
(b)The defined term “BBA” and the definition thereof set forth in Exhibit I to the Agreement is hereby deleted in its entirety.
(c)The following new defined terms and definitions thereof are hereby added to Exhibit I to the Agreement in appropriate alphabetical order:
“Anti-Terrorism Laws” means any applicable laws or regulation relating to terrorism, trade sanctions programs and embargoes, import/export licensing, money laundering or bribery, and any regulation, order, or directive promulgated, issued or enforced pursuant to such applicable laws or regulations, all as amended, supplemented or replaced from time to time.
“Covered Entity” means (a) the Seller, the Servicer, Triumph and each Originator and (b) each Person that, directly or indirectly, is in control of a Person described in clause (a) above.  For purposes of this definition, control of a Person shall mean the direct or indirect (x) ownership of, or power to vote, 25% or more of the issued and outstanding equity interests having ordinary voting power for the election of directors of such Person or other Persons performing similar functions for such Person, or (y) power to direct or cause the direction of the management and policies of such Person whether by ownership of equity interests, contract or otherwise.
“OECD Country” means a country which is a member of the Organization for Economic Cooperation and Development.
“Reportable Compliance Event” means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.
“Sanctioned Country” means a country subject to a sanctions program maintained under any Anti-Terrorism Law.
“Sanctioned Person” means any individual person, group, regime, entity or thing listed or otherwise recognized as a specially designated, prohibited, sanctioned or debarred person, group, regime, entity or thing, or subject to any limitations or prohibitions (including but not limited to the blocking of property or rejection of transactions), under any Anti-Terrorism Law.

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(d)The “Commitment” of the Purchaser as set forth below its signature to the Agreement is hereby amended to be “$225,000,000”.
(e)The definition of “Eligible Foreign Obligor” set forth in Exhibit I to the Agreement is hereby replaced in its entirety with the following:
“Eligible Foreign Obligor” means an Obligor which is both (i) either (A) organized under the laws of any country (other than the United States) that has a long-term foreign currency rating of at least “A” by Standard & Poor’s and “A2” by Moody’s or (B) organized under the laws of an OECD Country and (ii) not a Sanctioned Person.
(f)The definition of “Euro-Rate” set forth in Exhibit I to the Agreement is hereby replaced in its entirety with the following:
“Euro-Rate” means with respect to any Yield Period, the interest rate per annum determined by the Administrator by dividing (the resulting quotient rounded upwards, if necessary, to the nearest 1/100th of 1% per annum) (i) the rate per annum equal to the London interbank market offered rate for U.S. dollars as reported on Reuters Screen LIBOR01 Page (or on any successor or substitute page providing rate quotations comparable to those currently provided on such page, as determined by the Administrator from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at or about 11:00 a.m. (London time) on the Business Day which is two (2) Business Days prior to the first day of such Yield Period for an amount comparable to the Portion of Capital to be funded at the Alternate Rate determined by reference to the Euro-Rate during such Yield Period by (ii) a number equal to 1.00 minus the Euro-Rate Reserve Percentage.  The Euro-Rate may also be expressed by the following formula:
London interbank offered rates reported on Reuters Screen 
LIBOR01 Page or appropriate successor
Euro-Rate =                                                                                                              
1.00 - Euro-Rate Reserve Percentage
(g)The definition of “Excess Concentration” set forth in Exhibit I to the Agreement is hereby amended as follows:
(i)    clause (v) thereof is amended by replacing the percentage “50%” where it appears therein with the percentage “45%”; and 
(ii)     clause (vi) thereof is amended by replacing the percentage “12.5%” where it appears therein with the percentage “15.0%”.
(h)The definition of “Excluded Receivable” set forth in Exhibit I to the Agreement is hereby replaced in its entirety with the following:

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“Excluded Receivable” means any indebtedness and other obligations owed to the Seller (as the assignee of the related Originator) or any such related Originator by, or any right of such Originator to payment from or on behalf of: 
(a) [Reserved];
(b) Honeywell International Inc., as the Excluded Receivable Obligor, where:
(i) Triumph Gear Systems - Macomb, Inc. is the Originator, which indebtedness is sold to GE Capital pursuant to that certain Purchase Agreement, dated September 29, 1995 (as amended on December 11, 2006), between Triumph Gear Systems - Macomb, Inc. and GE Capital; 
(ii) Triumph Engineered Solutions, Inc. is the Originator, which indebtedness is sold to GE Capital pursuant to that certain Purchase Agreement, dated January 25, 1999, between Triumph Engineered Solutions, Inc. and GE Capital;
(iii) Triumph Thermal Systems, LLC is the Originator, which indebtedness is sold to GE Capital pursuant to that certain Purchase Agreement, dated April 11, 2007, between Triumph Thermal Systems, LLC and GE Capital; or
(iv)   Triumph Engine Control Systems, LLC is the Originator, which indebtedness is sold to GE Capital pursuant to that certain Purchase Agreement, dated October 21, 2013, between Triumph Engine Control Systems, LLC and GE Capital,
(c) United Technologies Corp. or Sikorsky Aircraft Corporation, as the Excluded Receivable Obligor, where:
(i) Triumph Fabrications - Hot Springs, LLC is the Originator, which indebtedness is sold to Citibank, N.A. pursuant Supplier Member Agreement, dated as of January 23, 2004, among Triumph Fabrications - Hot Springs, LLC, Citibank, N.A. and Orbian Corp.;
(ii) Triumph Structures - Wichita, Inc. is the Originator, which indebtedness is sold to Citibank, N.A. pursuant to a certain Supplier Agreement, dated as of February 2, 2003, between Triumph Structures - Wichita, Inc. and Citibank, N.A.;
(iii) Triumph Controls, LLC is the Originator, which indebtedness is sold to Citibank, N.A. pursuant to a certain Supplier Agreement, dated as of March 17, 2010, between Triumph Controls, LLC and Citibank, N.A.;

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(iv) Triumph Actuation Systems - Connecticut, LLC is the Originator, which indebtedness is sold to Citibank, N.A. pursuant to a certain Supplier Agreement, dated as of September 29, 2011, between Triumph Actuation Systems - Connecticut, LLC and Citibank, N.A.;
(v) Triumph Actuation Systems - Connecticut, LLC (DBA): Triumph Aerospace Systems - Seattle is the Originator, which indebtedness is sold to Citibank, N.A. pursuant to a certain Supplier Agreement, dated as of September 29, 2011, between Triumph Actuation Systems - Connecticut, LLC (DBA): Triumph Aerospace Systems - Seattle and Citibank, N.A.; or
(vi) Triumph Gear Systems - Macomb, Inc. is the Originator, which indebtedness is sold to Citibank, N.A. pursuant to that certain Supplier Agreement, dated as of June 16, 2004, between Triumph Gear Systems - Macomb, Inc. (f/k/a ACR Industries, Inc.) and Citibank, N.A.,
(d) General Electric Company, its divisions, business units and/or affiliates (each, a “GE Business”), as the Excluded Receivable Obligor(s), where Triumph Gear Systems - Macomb, Inc. is the Originator, which indebtedness is sold to GE Capital pursuant to each of the purchase orders and purchase requests made from time to time by any GE Business, by Triumph Gear Systems - Macomb, Inc. for the benefit of GE Capital;
in each case whether constituting an account, chattel paper, payment intangible, instrument or general intangible, in each instance arising in connection with the sale of goods or the rendering of services, and includes, without limitation, the obligation to pay any finance charges, fees and other charges with respect thereto.
(i)The definition of “Facility Termination Date” set forth in Exhibit I to the Agreement is hereby amended by replacing the date “February 26, 2016” where it appears therein with the date “November 22, 2017”.
(j)The definition of “Purchase Limit” set forth in Exhibit I to the Agreement is hereby amended by replacing the amount “$175,000,000” where it appears therein with the amount “$225,000,000”.
(k)Section 1(l) of Exhibit III to the Agreement is hereby replaced in its entirety with the following:
(l)    Investment Company Act.  The Seller is neither (i) an “investment company,” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended, nor (ii) a “covered fund” under Section 13 of the U.S. Bank Holding Company Act of 1956, as amended, and the applicable rules and regulations thereunder.

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(l)The following new Section 1(o) is hereby added to Exhibit III of the Agreement immediately following existing Section 1(n) thereof:
(o)    Anti-Money Laundering/International Trade Law Compliance.  No Covered Entity is a Sanctioned Person.  No Covered Entity, either in its own right or through any third party, (a) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (b) does business in or with, or derives any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (c) engages in any dealings or transactions prohibited by any Anti-Terrorism Law.
(m)The following new Section 2(i) is hereby added to Exhibit III of the Agreement immediately following existing Section 2(h) thereof:
(i)    Anti-Money Laundering/International Trade Law Compliance.  No Covered Entity is a Sanctioned Person.  No Covered Entity, either in its own right or through any third party, (a) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (b) does business in or with, or derives any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (c) engages in any dealings or transactions prohibited by any Anti-Terrorism Law.
(n)Section 1(q) of Exhibit IV to the Agreement is hereby amended by replacing the amount “$12,500,000” where it appears therein with the amount “$22,500,000”.
(o)The following new Section 1(s) is hereby added to Exhibit IV of the Agreement immediately following existing Section 1(r) thereof:
(s)    Anti-Money Laundering/International Trade Law Compliance.  No Covered Entity will become a Sanctioned Person.  No Covered Entity, either in its own right or through any third party, will (a) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (b) do business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (c) engage in any dealings or transactions prohibited by any Anti-Terrorism Law or (d) use the proceeds of any Purchase to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law.  The funds used to repay Seller’s obligations under this Agreement and each of the other Transaction Documents will not be derived from any unlawful activity.  Each Covered Entity shall comply with all Anti-Terrorism Laws.  Seller shall promptly 

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notify the Administrator in writing upon the occurrence of a Reportable Compliance Event.
(p)The following new Section 2(o) is hereby added to Exhibit IV of the Agreement immediately following existing Section 2(n) thereof:
(o)    Anti-Money Laundering/International Trade Law Compliance.  No Covered Entity will become a Sanctioned Person.  No Covered Entity, either in its own right or through any third party, will (a) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (b) do business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (c) engage in any dealings or transactions prohibited by any Anti-Terrorism Law or (d) use the proceeds of any Purchase to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law.  The funds used to repay Servicer’s obligations under this Agreement and each of the other Transaction Documents will not be derived from any unlawful activity.  Each Covered Entity shall comply with all Anti-Terrorism Laws.  Servicer shall promptly notify the Administrator in writing upon the occurrence of a Reportable Compliance Event.
(q)Clause (f) of Exhibit V to the Agreement is hereby amended by (i) replacing the percentage “15.0%” where it appears in subclause (i)(B) thereof with the percentage “12.0%” and (ii) replacing the percentage “13.0%” where it appears in subclause (ii)(B) thereof with the percentage “10.0%”
(r)Schedule II to the Agreement is hereby replaced in its entirety with Schedule II attached hereto.
SECTION 2. Conditions to Effectiveness.
This Amendment shall become effective as of the date hereof, provided that neither the Facility Termination Date nor a Termination Event or Unmatured Termination Event has occurred and subject to the condition precedent that the Administrator shall have received (i) the “Amendment Fee” (under and as defined in the A&R Fee Letter) in accordance with the A&R Fee Letter and (ii) each of the following, each duly executed and dated as of the date hereof (or such other date satisfactory to the Administrator), in form and substance satisfactory to the Administrator:
(a)counterparts of this Amendment (whether by facsimile or otherwise) executed by each of the parties hereto;
(b)counterparts of each of the Related Agreements (whether by facsimile or otherwise) executed by each of the parties thereto; 

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(c)such other documents, agreements, certificates, opinions and instruments as the Administrator may reasonably request prior to delivery by Administrator of an executed counterpart of this Amendment.
SECTION 3. Representations and Warranties.
Each of the Seller and the Servicer, as applicable, hereby represents and warrants to the Purchaser, the Purchaser Agent and the Administrator as follows:
(a)Representations and Warranties.  The representations and warranties contained in Exhibit III of the Agreement are true and correct as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations or warranties were true and correct as of such earlier date).
(b)Enforceability.  The execution and delivery by each of the Seller and the Servicer of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within each of its organizational powers and have been duly authorized by all necessary action on each of its parts.  This Amendment and the Agreement, as amended hereby, are each of the Seller’s and the Servicer’s valid and legally binding obligations, enforceable in accordance with its terms.
(c)No Default.  Immediately after giving effect to this Amendment and the transactions contemplated hereby, no Termination Event or Unmatured Termination Event exists or shall exist.
SECTION 4. Effect of Amendment; Ratification.  Except as specifically amended hereby, the Agreement is hereby ratified and confirmed in all respects, and all of its provisions shall remain in full force and effect.  After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “the Receivables Purchase Agreement”, “this Agreement”, “hereof”, “herein”, or words of similar effect, in each case referring to the Agreement, shall be deemed to be references to the Agreement as amended hereby.  This Amendment shall not be deemed to expressly or impliedly waive, amend, or supplement any provision of the Agreement other than as specifically set forth herein.
SECTION 5. Reaffirmation of Performance Guaranty.  After giving effect to this Amendment, the Performance Guaranty Amendment and each of the other transactions contemplated hereby and thereby, all of the provisions of the Performance Guaranty shall remain in full force and effect and Triumph hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.
SECTION 6. Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, and each counterpart shall be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.
SECTION 7. Governing Law.  This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to any otherwise 

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applicable conflicts of law principles (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).
SECTION 8. Section Headings.  The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or the Agreement or any provision hereof or thereof.
SECTION 9. Successors and Assigns.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.
SECTION 10. Severability.  If any one or more of the agreements, provisions or terms of this Amendment shall for any reason whatsoever be held invalid or unenforceable, then such agreements, provisions or terms shall be deemed severable from the remaining agreements, provisions and terms of this Amendment and shall in no way affect the validity or enforceability of the provisions of this Amendment or the Agreement.
[SIGNATURE PAGES TO FOLLOW]

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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.
TRIUMPH RECEIVABLES, LLC
By:       /S/ Jeffrey L. McRae                            
Name: Jeffrey L. McRae
Title:   Senior Vice President and CFO
TRIUMPH GROUP, INC.,
in its individual capacity and as Servicer
By:       /S/ Jeffrey L. McRae                              
Name: Jeffrey L. McRae
Title:   Senior Vice President and CFO

PNC BANK, NATIONAL ASSOCIATION,
as Administrator, as a Purchaser Agent
and as a Related Committed Purchaser
By:       /S/ Mark Falcione                                   
Name: Mark Falcione
Title:   Executive Vice PresidentEX-10.1

RAIT FINANCIAL TRUST

10,000,000

Common Shares of Beneficial Interest

(par value $0.03 per share)

Amendment No. 1 to Capital on DemandTM Sales Agreement

November 26, 2014

Ladies and Gentlemen:

RAIT Financial Trust, a Maryland real estate investment trust (the “Company”), RAIT
Partnership, L.P., a Delaware limited partnership (the “Partnership”), and JonesTrading
Institutional Services LLC (the “Agent”), are parties to that certain Capital on DemandTM
Sales Agreement dated November 21, 2012 (the “Original Agreement”). All capitalized terms
not defined herein shall have the meanings ascribed to them in the Original Agreement. The
parties, intending to be legally bound, hereby amend the Original Agreement as follows:

1. Section 1 of the Original Agreement is hereby deleted and replaced with the following:

“1. Issuance and Sale of Shares. The Company agrees that, from time to time after the
filing of the Prospectus Supplement (defined below) with the Securities and Exchange Commission
(the “Commission”) during the term of this Agreement, on the terms and subject to the
conditions set forth herein, it may issue and sell through the Agent, up to 7,918,919 (the
“Maximum Amount”) common shares of beneficial interest (the “Placement Shares”) of
the Company, par value $0.03 per share (the “Common Shares”). Notwithstanding anything to
the contrary contained herein, the parties hereto agree that compliance with the limitations set
forth in this Section 1 on the amount of Placement Shares issued and sold under this Agreement
shall be the sole responsibility of the Company and that Agent shall have no obligation in
connection with such compliance. The issuance and sale of Placement Shares through Agent will be
effected pursuant to the Registration Statement (as defined below) filed by the Company and
declared effective by the Commission, although nothing in this Agreement shall be construed as
requiring the Company to use the Registration Statement to issue Common Shares.

The Company has filed, in accordance with the provisions of the Securities Act of 1933, as
amended (the “Securities Act”) and the rules and regulations thereunder (the
“Securities Act Regulations”), with the Commission a registration statement on Form S-3
(File No. 333-195547), including a base prospectus, relating to certain securities, including the
Placement Shares to be issued from time to time by the Company, and which incorporates by reference
documents that the Company has filed or will file in accordance with the provisions of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and
regulations thereunder (the “Exchange Act Regulations”). The Company has prepared a
prospectus supplement specifically relating to the Placement Shares (the “Prospectus
Supplement”) to the base prospectus included as part of such registration statement. The
Company will furnish to the Agent, for use by the Agent, copies of the prospectus included as part
of such registration statement, as supplemented by the Prospectus Supplement, relating to the
Placement Shares. Except where the context otherwise requires, such registration statement, any
successor registration statement, including all documents filed as part thereof or incorporated by
reference therein, and including any information contained in a Prospectus (as defined below)
subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act Regulations
or deemed to be a part of such registration statement pursuant to Rule 430B of the Securities Act
Regulations, is herein called the “Registration Statement.” The base prospectus, including
all documents incorporated therein by reference, included in the Registration Statement, as it may
be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or
Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to
Rule 424(b) under the Securities Act Regulations, together with the then issued Issuer Free Writing
Prospectus(es) (as defined below), is herein called the “Prospectus.”

Any reference herein to the Registration Statement, any Prospectus Supplement, Prospectus or
any Issuer Free Writing Prospectus shall be deemed to refer to and include the documents, if any,
incorporated by reference therein (the “Incorporated Documents”), including, unless the
context otherwise requires, the documents, if any, filed as exhibits to such Incorporated
Documents. Any reference herein to the terms “amend,” “amendment” or “supplement” with respect to
the Registration Statement, any Prospectus Supplement, the Prospectus or any Issuer Free Writing
Prospectus shall be deemed to refer to and include the filing of any document under the Exchange
Act on or after the most recent effective date of the Registration Statement, or the date of
Prospectus Supplement, Prospectus or such Issuer Free Writing Prospectus, as the case may be, and
incorporated therein by reference. For purposes of this Agreement, all references to the
Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to
include any copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and
Retrieval System, or if applicable, the Interactive Data Electronic Application system when used by
the Commission (collectively, “EDGAR”).

2. Except as specifically set forth herein, all other provisions of the Original Agreement
shall remain in full force and effect.

3. Entire Agreement; Amendment; Severability. This Amendment No. 1 together with the
Original Agreement (including all schedules and exhibits attached hereto and thereto and Placement
Notices issued pursuant hereto and thereto) constitutes the entire agreement and supersedes all
other prior and contemporaneous agreements and undertakings, both written and oral, among the
parties hereto with regard to the subject matter hereof. All references in the Original Agreement
to the “Agreement” shall mean the Original Agreement as amended by this Amendment No. 1; provided,
however, that all references to “date of this Agreement” in the Original Agreement shall continue
to refer to the date of the Original Agreement, and the reference to “time of execution of this
Agreement” set forth in Section 13(a) shall continue to refer to the time of execution of the
Original Agreement.

4. Applicable Law; Consent to Jurisdiction. This amendment shall be governed by, and
construed in accordance with, the internal laws of the State of New York without regard to the
principles of conflicts of laws. Each party hereby irrevocably submits to the non-exclusive
jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan,
for the adjudication of any dispute hereunder or in connection with any transaction contemplated
hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit,
action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or
proceeding is improper. Each party hereby irrevocably waives personal service of process and
consents to process being served in any such suit, action or proceeding by mailing a copy thereof
(certified or registered mail, return receipt requested) to such party at the address in effect for
notices to it under this amendment and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by law.

5. Waiver of Jury Trial. The Company and the Agent each hereby irrevocably waives any
right it may have to a trial by jury in respect of any claim based upon or arising out of this
amendment or any transaction contemplated hereby.

6. Counterparts. This amendment may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
instrument. Delivery of an executed amendment by one party to the other may be made by facsimile
transmission.

[Remainder of Page Intentionally Blank]

If the foregoing correctly sets forth the understanding among the Company and the
Agent, please so indicate in the space provided below for that purpose, whereupon this letter shall
constitute a binding amendment to the Agreement between the Company and the Agent.

Very truly yours,

	 	 	 
	RAIT FINANCIAL TRUST
	 
	By:
	 	/s/ James J. Sebra

	 	 	 

	 	 	Name: James J. Sebra

	 	 	Title: Chief Financial Officer and

Treasurer

	 	 	 
	RAIT PARTNERSHIP, L.P.
	By: RAIT General, Inc., its sole general partner
	By: /s/ James J. Sebra
	Name: James J. Sebra
	Title: Chief Financial Officer and
	Treasurer
	 	 	ACCEPTED as of the date first-above written:

	 	 	 
	JONESTRADING INSTITUTIONAL

SERVICES LLC
	 
	By:
	 	/s/ Alan Hill

	 	 	 

	 	 	Name: Alan Hill

	 	 	Title: Chief Financial

Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00238-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00238-of-00352.parquet"}]]