Document:

EXECUTION VERSION

SEVENTH AMENDMENT TO

LOAN AND SERVICING AGREEMENT

(Golub Capital BDC Funding LLC)

 

THIS SEVENTH AMENDMENT
TO LOAN AND SERVICING AGREEMENT, dated as of March 8, 2013 (this “Amendment”), is entered into by and among
GOLUB CAPITAL BDC Funding LLC, as the Borrower (the “Borrower”),
GOLUB CAPITAL BDC, INC., as the Transferor and the Servicer, the Institutional Lender identified on the signature pages hereto,
WELLS FARGO BANK, N.A., as the Collateral Agent, the Account Bank and the Collateral Custodian, and WELLS FARGO SECURITIES, LLC,
as the Administrative Agent (in such capacity, the “Administrative Agent”).

 

R E C I T A L S

 

WHEREAS, the above-named
parties have entered into that certain Loan and Servicing Agreement, dated as of July 21, 2011 (as amended, supplemented or otherwise
modified from time to time, the “Agreement”), by and among the Borrower, the Transferor, the Servicer, each
of the Conduit Lenders and Institutional Lenders from time to time party thereto, each of the Lender Agents from time to time party
thereto, and the Collateral Agent, the Account Bank and the Collateral Custodian;

 

WHEREAS, pursuant to
and in accordance with Section 11.01 of the Agreement, the parties hereto desire to amend the Agreement in certain respects as
provided herein;

 

NOW, THEREFORE, based
upon the above Recitals, the mutual premises and agreements contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound, hereby agree as follows:

 

SECTION
1.Definitions.

 

Each capitalized term
used but not defined herein has the meaning ascribed thereto in the Agreement.

 

SECTION
2.Amendment.

 

2.1The definition
of “Adjusted Borrowing Value” in Section 1.01 of the Agreement shall be amended and restated in its entirety
as follows:

 

““Adjusted
Borrowing Value” means for any Eligible Loan Asset, for any date of determination, an amount equal to the lowest of:
(i) the Outstanding Balance of such Eligible Loan Asset at such time, (ii) the Advance Date Assigned Value of such Eligible Loan
Asset multiplied by the Outstanding Balance of such Eligible Loan Asset at such time and (iii) the Assigned Value of such Eligible
Loan Asset at such time multiplied by the Outstanding Balance of such Eligible Loan Asset at such time; provided that the
parties hereby agree that the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset shall be zero.
Amounts in excess of (a) $12,500,000 with respect to each of any two (2) Obligors (including any Affiliate thereof), (b) $10,000,000
with respect to each of any two (2) additional Obligors (including any Affiliate thereof) and (c) $8,500,000 in all other instances
shall not be included in the Adjusted Borrowing Value of the applicable Eligible Loan Assets.”

 

    	 

    	 

    

 

2.2The definition
of “Maximum Facility Amount” in Section 1.01 of the Agreement shall be amended and restated in its entirety
as follows:

 

““Maximum
Facility Amount” means the aggregate Commitments as then in effect, which amount shall not exceed $100,000,000; provided
that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such
time.”

 

2.3The definition
of “Minimum Equity Amount” in Section 1.01 of the Agreement shall be amended and restated in its entirety as
follows:

 

““Minimum
Equity Amount” means, as of any date of determination, an amount equal to the greater of (a) $32,500,000 and (b) the
sum of the Adjusted Borrowing Value of all Eligible Loan Assets of the three largest Obligors included in the Collateral Portfolio.”

 

2.4Section 2.09
of the Agreement is hereby amended and restated in its entirety as follows:

 

“Section
2.09Non-Usage Fee.

 

The Borrower
shall pay, in accordance with Section 2.04, pro rata to each Lender (either directly or through the applicable Lender
Agent), a non-usage fee (the “Non-Usage Fee”) payable in arrears for each Remittance Period, equal to the sum
of the products for each day during such Remittance Period of (i) one divided by 360, (ii) the applicable Non-Usage Fee Rate (as
defined below), and (iii) the aggregate Commitments minus the Advances Outstanding on such day (such amount, the “Unused
Portion”). The Non-Usage Fee Rate (the “Non-Usage Fee Rate”) shall be equal to:

 

(a)for
the period from (and including) the Closing Date through (and excluding) the six month anniversary thereof, 0.50%;

 

(b)thereafter,
until December 13, 2012, except as provided in clauses (c), (d) and (e) below, (i) 0.50% on any Unused Portion up to or equal to
the first $30,000,000 of such Unused Portion and (ii) 2.00% on any Unused Portion in excess of the first $30,000,000;

 

(c)for
the period from (and including) February 14, 2012 through (and excluding) April 14, 2012, 0.50%;

 

(d)for
the period from (and including) May 15, 2012 through (and excluding) July 15, 2012, 0.50%;

 

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(e)for
the period from (and including) October 21, 2012 through and including December 12, 2012, 0.50%; and

 

(f)from
(and including) December 13, 2012 and thereafter, except as provided in clauses (1) and (2) below, (i) 0.50% on any Unused Portion
up to or equal to the first $40,000,000 of such Unused Portion and (ii) 2.00% on any Unused Portion in excess of the first $40,000,000

 

(1)for
the period from (and including) December 13, 2012 through (and excluding) January 28, 2013, 0.50%, and

 

(2)from
(and including) January 28, 2013 through (and excluding) March 8, 2013, (i) 0.50% on any Unused Portion up to or equal to the first
$60,000,000 of such Unused Portion and (ii) 2.00% on any Unused Portion in excess of the first $60,000,000; provided that
for the period from (and including) December 8, 2012 through (and excluding) March 8, 2013, the Borrower shall only be required
to pay the accrued Non-Usage Fees to the extent such fees exceed $125,000 (i.e., the Borrower shall be entitled a one-time credit
towards such fees in the amount of $125,000).”

 

2.5Where it appears
on the cover page and Annex A of the Agreement “$150,000,000” is hereby replaced by “$100,000,000”.

 

SECTION
3.Agreement in Full Force and Effect as Amended.

 

Except as specifically
amended hereby, all provisions of the Agreement shall remain in full force and effect. This Amendment shall not be deemed to expressly
or impliedly waive, amend or supplement any provision of the Agreement other than as expressly set forth herein and shall not constitute
a novation of the Agreement.

 

SECTION
4.Representations and Warranties.

 

The Borrower hereby
represents and warrants as of the date of this Amendment as follows:

 

(a)this Amendment
has been duly executed and delivered by it;

 

(b)this Amendment
constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’
rights generally or by general principles of equity; and

 

(c)there is no
Event of Default, Unmatured Event of Default, or Servicer Termination Event that is continuing or would result from entering into
this Amendment.

 

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SECTION
5.Conditions to Effectiveness.

 

The effectiveness of
this Amendment is subject to receipt by the Administrative Agent of executed counterparts (or other evidence of execution, including
facsimile signatures, satisfactory to the Administrative Agent) of this Amendment.

 

SECTION
6.Miscellaneous.

 

(a)This Amendment
may be executed in any number of counterparts (including by facsimile), and by the different parties hereto on the same or separate
counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the
same agreement.

 

(b)The descriptive
headings of the various sections of this Amendment are inserted for convenience of reference only and shall not be deemed to affect
the meaning or construction of any of the provisions hereof.

 

(c)This Amendment
may not be amended or otherwise modified except as provided in the Agreement.

 

(d)The failure
or unenforceability of any provision hereof shall not affect the other provisions of this Amendment.

 

(e)Whenever the
context and construction so require, all words used in the singular number herein shall be deemed to have been used in the plural,
and vice versa, and the masculine gender shall include the feminine and neuter and the neuter shall include the masculine and feminine.

 

(f)This Amendment
represents the final agreement between the parties only with respect to the subject matter expressly covered hereby and may not
be contradicted by evidence of prior, contemporaneous or subsequent oral agreements between the parties. There are no unwritten
oral agreements between the parties.

 

(g)THIS AMENDMENT
AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

 

[Remainder of Page Intentionally Left
Blank]

 

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IN WITNESS WHEREOF,
the undersigned have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date
first written above.

 

	BORROWER:	GOLUB CAPITAL BDC FUNDING LLC
	 	 
	 	By: 	/s/ Ross Teune
	 	 	Name: Ross Teune
	 	 	Title: Chief Financial Officer

 

 

	THE TRANSFEROR AND SERVICER:	GOLUB CAPITAL BDC, INC.
	 	 
	 	By: 	/s/ Ross Teune
	 	 	Name: Ross Teune
	 	 	Title: Chief Financial Officer

 

 

	THE COLLATERAL AGENT, ACCOUNT 

BANK AND COLLATERAL CUSTODIAN:	WELLS FARGO BANK, N.A.
	 	 
	 	By: 	/s/ Michael Roth
	 	 	Name: Michael Roth
	 	 	Title: Vice President

 

[Signatures Continue on the Following
Page]

 

 

    	 	S-1	Seventh
                                                                                                                                                                                                                                                                                                                                                          Amendment
                                                                                                                                                                                                                                                                                                                                                          to
                                                                                                                                                                                                                                                                                                                                                          LSA

    	 

    

 

	ADMINISTRATIVE AGENT:	WELLS FARGO SECURITIES, LLC
	 	 
	 	By: 	/s/ Matt Jensen
	 	 	Name: Matt Jensen, CFA
	 	 	Title: Vice President

 

 

	THE INSTITUTIONAL LENDER:	WELLS FARGO BANK, N.A.
	 	 
	 	By: 	/s/ Kevin Sunday
	 	 	Name: Kevin Sunday
	 	 	Title: Director

 

    	 	S-2	Seventh Amendment to LSAEXHIBIT 10.20

 

GERMAN AMERICAN BANCORP, INC.

 

Restricted Stock Award Agreement (2012/2013
Additional Retainer)

for _____________ (“Director”)

December 17, 2012

 

German American Bancorp,
Inc. (the "Company") is pleased to grant to you an award pursuant to the resolution of the Company’s Board of Directors
adopted as of the date of this document consisting of certain shares of Common Stock of the Company (the "Common Stock")
subject to certain restrictions under the Company's 2009 Long Term Equity Incentive Plan (the "Plan") and this Agreement
("Agreement"). This Agreement and the shares granted hereby are subject to the terms and conditions of the Plan, the
terms of which are incorporated herein. Any capitalized term that is not defined in this Agreement has the meaning described by
the Plan. Please see the Plan document for more information regarding your rights and obligations under this Agreement.

 

Please execute this
Agreement by signing both copies. Return one copy within sixty (60) days of its date to Terri Eckerle, Shareholder
Relations, German American Bancorp, Inc., 711 Main Street, Box 810, Jasper, Indiana 47546. Retain one copy of the Agreement for
yourself along with the enclosed Plan.

 

1.          Grant
of the Award. The Company hereby grants you, as of the date specified above (the "Grant Date") an Award consisting
of Four Hundred and Fifty Three (453) shares of Common Stock, with an aggregate value as of the Grant Date of approximately Ten
Thousand Dollars ($10,000). We sometimes refer in this Agreement to the shares of Common Stock that are part of the Award (including
any other securities distributed in respect of the shares of Common Stock, or in substitution for those shares, by reason of an
adjustment provided for in Section 8) as the "Restricted Stock." This Award is granted to you subject to the terms and
conditions specified in this Agreement and the Plan.

 

2.          Vesting
of the Award. Subject to earlier forfeiture and cancellation pursuant to the Plan and this Agreement and possible acceleration
as provided by Article VIII of the Plan, your rights to retain the Award (including the Restricted Stock) will vest as of 12:01
A.M. Jasper time on the morning of December 5, 2013 ("Vesting Date"). The period prior to the Vesting Date is referred
to in this Agreement as the Restricted Period. The Board of Directors, by the vote (or written consent in lieu thereof) of not
fewer than a majority of the members of the Board of Directors then in office (other than you) who are independent directors for
purposes of NASDAQ independence rules and who are “non-employee directors” as defined for purposes of the rules of
the Securities and Exchange Commission under Section 16 of the Securities Exchange Act of 1934, as amended (the “Section
16 Non-Employee Directors”), shall have the authority, in its sole judgment (which shall be conclusive and binding), to determine
whether the conditions to vesting specified by this Agreement and the Plan have been satisfied as of the Vesting Date or any other
date. The Board of Directors by action of the Section 16 Non-Employee Directors may also waive the provisions of Section 5 or otherwise
shorten the Restricted Period as to any or all of the Award, and in connection with such actions may cause the Award to vest at
an earlier date, whenever the Board of Directors by the above-described vote may determine that such action is appropriate by reason
of changes in applicable tax or other laws or accounting principles or interpretations, or by reason of other changes in circumstances
occurring after the Grant Date.

 

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3.          Your
Rights in Award before Vesting. Except as otherwise provided in this Agreement, you shall have all the rights of a holder
of Common Stock in respect of each of your shares of Restricted Stock that are included in the Award during the Restricted
Period, including, but not limited to, the right to receive all cash dividends paid on the Restricted Stock that are declared
with a record date on or after the Grant Date and the right to vote the Restricted Stock on all matters to come for a vote by
the holders of the Common Stock with a record date on or after the Grant Date.

 

4.          Non-Certificated
Nature of Restricted Stock during the Restricted Period. The Company has directed its registrar and transfer agent (the "Transfer
Agent") to issue the shares of Restricted Stock in your name as of the Grant Date, and to evidence the issuance of such shares
of Restricted Stock to you by crediting the number of such shares of Restricted Stock to an account that has been established in
your name on the Transfer Agent's books (your "Restricted Stock Account"). During the Restricted Period, the Company
shall have no obligation to cause a certificate evidencing any of the shares of Restricted Stock to be prepared or delivered. Any
cash dividends payable in respect of the Restricted Stock during the Restricted Period pursuant to Section 3 shall be paid to you
in cash, unless you otherwise direct, in which event such dividends will be paid to such account as you direct.

 

5.          Forfeiture
and Cancellation of the Award; Conversion of Award in Certain Cases

 

(a)          Continuing
Board Service and Meeting Attendance Conditions. If you should (x) not continue in service to the Company and its subsidiaries
or affiliates as a director through December 5, 2013, for any reason other than your death or disability, or (y) for any reason
other than disability, fail to attend in person at least seventy-five percent (75%) of the aggregate number of meetings of the
Company’s Board of Directors and the other corporate or subsidiary or affiliate boards and committees on which you may be
(from time to time) a member during the period commencing on January 1, 2013 through December 5, 2013, or (z) fail to attend (other
than by reason of disability or illness or bona fide emergency as determined in the sole discretion of the Company’s lead
independent director) the Company's annual meeting of shareholders held in 2013 (each, a “Disqualifying Circumstance”),
your Award (including your Restricted Stock and all associated property and rights) shall be forfeited and cancelled in its entirety
effective as of the date of the last fact that establishes the existence of the Disqualifying Circumstance (the “Disqualification
Date”) (regardless of whether the date on which the Board of Directors makes the determination to that effect after the Disqualification
Date). In the event of any forfeiture or cancellation of your Restricted Stock pursuant to this Section 5, your shares of Restricted
Stock shall be deemed to have been reacquired by the Company and cancelled effective as of the Disqualification Date, and you therefore
shall not have the right to receive any cash dividends or other distributions with respect to the Restricted Stock that are declared
with a record date after the Disqualification Date. The existence or non-existence of a Disqualifying Circumstance (and the date
of the associated Disqualification Date) shall, in the event of any uncertainty or dispute, be determined for all purposes under
the Plan and this Agreement by the Board of Directors (by vote or consent as provided by Section 2), whose judgment on such matters
shall be conclusive and binding.

 

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(b)          Immediate
Vesting Caused by an Extraordinary Event. If an Extraordinary Event (as defined by Section 6.06(d) of the Plan) occurs during
the Restricted Period, and prior to the date of any forfeiture and cancellation of your Award, then the Vesting Date of your Award
shall be deemed to have been accelerated to the date of the Extraordinary Event, and your Award (including the Restricted Stock
and the LTI Cash Right) shall be deemed fully non-restricted and non-forfeitable as of such date.

 

6.          Non-Transferability.
Prior to expiration of the Restricted Period, you may not sell, assign, transfer, pledge or otherwise encumber any of your rights
under the Award, including the Restricted Stock.

 

7.          Disclaimer
of Contract. Nothing contained in this Agreement shall be construed as an obligation of the Company or any of its Subsidiaries
or any other person to retain you as a member of the Board of Directors, or in any other capacity.

 

8.          Adjustments
for Changes in Capitalization of the Company. In the event of any change in the outstanding shares of Common Stock during
the Restricted Period by reason of any reorganization, recapitalization, stock split, stock dividend, combination or exchange
of shares, merger, consolidation, or any change in the corporate structure of the Company or in the shares of Common Stock,
the number and class of the shares of your Restricted Stock covered by your Award shall be appropriately adjusted by the
Board of Directors, whose determination shall be conclusive. Any shares of Common Stock or other securities distributed
during the Restricted Period in respect of your Restricted Stock as a result of any of the foregoing to which you may be
determined to be entitled shall be held without interest by the Transfer Agent for your account until the expiration of the
Restricted Period, and shall be subject to the forfeiture and other provisions of this Agreement to the same extent and in
the same manner as the previously issued shares of Restricted Stock in respect of which they were distributed.

 

9.          Securities
Laws. The Company's obligation to issue to you, or to deliver to you any stock certificates evidencing, shares of Common Stock
hereunder shall, if the Board of Directors so requests, be conditioned upon the Company's receipt of a representation by you as
to your investment intention, in such form as the Board of Directors shall determine to be necessary or advisable to comply with
the provisions of the Securities Act of 1933, as amended, or any other federal, state or local securities legislation. The Company
shall not be required to deliver any certificates for shares under this Agreement or to issue any shares hereunder prior to (i)
the admission of such shares to listing on any stock exchange on which the shares of Common Stock may then be listed, and (ii)
the completion of such registration or other qualification of such shares under any state or federal law, rule or regulation, as
the Board of Directors shall determine to be necessary or advisable.

 

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10.         Tax
and Other Withholding Obligations. The Company’s obligation to pay or deliver to you the Restricted Stock that constitutes
the Award shall be subject to the Company’s compliance with applicable tax withholding and other required withholding or
deductions, if any, with respect to the compensation realized by you as a result of having received the Award (including the non-cash
compensation income that you may be deemed to realize for income tax purposes upon the lapsing of the restrictions upon the Award)
including any deductions that may be required under the Company's employee benefit plans (collectively, the “Withholding”).
The Company may satisfy any such Withholding or other obligation by withholding from the Restricted Stock otherwise deliverable
to you such number of shares as would have at such time a fair market value equal to the amount of such obligation.

 

11.         Agreement.
By signing this Agreement below, you acknowledge that you have received a copy of the Plan, and that you are familiar with the
terms and provisions of the Plan and the Agreement, and that you accept their terms. You also acknowledge your agreement (on behalf
of yourself and your estate, including your personal representatives, guardians, executors and heirs) to accept as binding, conclusive,
and final all decisions and interpretations of the Company’s Board of Directors (by the vote or consent of such members thereof
as is determined in accordance with Section 2 of this Agreement) upon any question arising under the Plan or this Agreement.

 

	 	 	GERMAN AMERICAN BANCORP, INC.
	 	 	 	 
	 	 	By:	 
	Director Name	 	 	Mark A Schroeder, Chairman and CEO

  

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