Document:

Exhibit 4.4

      
        

        

        AMENDMENT OF

        WARRANT AGREEMENT

        

        

      

      
        THIS AMENDMENT OF WARRANT AGREEMENT (this “Agreement”), made as of November 14, 2019, is made by and between Trinity Merger Corp, a Delaware corporation
          (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”).

      

      
        

        

      

      
        WHEREAS, the Company and the Warrant Agent are parties to that certain Warrant Agreement, dated as of May 14, 2018 and filed with the United States Securities and Exchange Commission on May 17,
          2018 (the “Existing Warrant Agreement”), pursuant to which the Company has issued 34,500,000 warrants (the “Public Warrants”) in its initial public offering and
          12,350,000 private placement warrants (“Private Placement Warrants”, together with the Public Warrants, the “Warrants”), each representing the right to purchase one
          share of Class A common stock, par value $0.0001, of the Company (“Common Stock”);

      

      
        

        

      

      
        WHEREAS, capitalized terms used herein, but not otherwise defined, shall have the meanings given to such terms in the Existing Warrant Agreement;

      

      
        

        

      

      
        WHEREAS, effective as of August 9, 2019, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Trinity Sub Inc., a
          Maryland corporation and wholly owned subsidiary of the Company (“PubCo”), Trinity Merger Sub I Inc., a Delaware corporation and wholly owned subsidiary of PubCo (“Merger
            Sub I”), Trinity Merger Sub II LLC, a Delaware limited liability company and wholly owned subsidiary of PubCo, PBRELF I, LLC, a Washington limited liability company, BRELF II, LLC, a Washington limited liability company, BRELF III, LLC,
          a Washington limited liability company, BRELF IV, LLC, a Washington limited liability company, Pyatt Broadmark Management, LLC, a Washington limited liability company, Broadmark Real Estate Management II, LLC, a Washington limited liability
          company, Broadmark Real Estate Management III, LLC, a Washington limited liability company, and Broadmark Real Estate Management IV, LLC, a Washington limited liability company;

      

      
        

        

      

      
        WHEREAS, the Merger Agreement provides, among other things, (i) each share of Common Stock issued and outstanding immediately prior to the the effective time of merger of the Merger Sub I with
          and into the Company, with the Company being the surviving entity of such merger (such merger, the “Trinity Merger”, and such effective time of the Trinity Merger, the “Trinity

            Effective Time”) shall automatically be converted into one validly issued, fully paid and non-assessable share of common stock of PubCo, par value $0.001 (“PubCo Common Stock”) and (ii) each
          Warrant that is outstanding immediately prior to the Trinity Effective Time, shall represent the right to acquire shares of PubCo Common Stock, on the same contractual terms and conditions as were in effect immediately prior to the Trinity
          Effective Time, under the terms of the Existing Warrant Agreement as amended by this Agreement;

      

      
        

        

      

      
        WHEREAS, at the Trinity Effective Time, as provided in Section 4.4 of the Existing Warrant Agreement, the Warrants will no longer be exercisable for shares of Common Stock but instead will be
          exercisable (subject to the terms and conditions of the Existing Warrant Agreement as amended hereby) for a number of shares of PubCo Common Stock equal to the number of shares of Common Stock for which the Warrants were exercisable immediately
          prior to the Trinity Effective Time (subject to the terms and conditions of the Existing Warrant Agreement as amended hereby);

      

      
        

        

      

      
        
          
            

        

        WHEREAS, the Board of Directors of the Company has determined that the consummation of the Trinity Merger and the other transactions contemplated by the Merger Agreement (the “Transactions”) will constitute a Business Combination (as defined in Section 3.2 of the Existing Warrant Agreement);

      

      
        

        

      

      
        WHEREAS, it is a condition to the closing of the Transactions, among other things, that the Warrant Holder Approval (as defined in the Merger Agreement) has been obtained;

      

      
        

        

      

      
        WHEREAS, Section 9.8 of the Existing Warrant Agreement provides that the Existing Warrant Agreement may be amended with the vote or written consent of the registered holders of 65% of the then
          outstanding Public Warrants; and

      

      
        

        

      

      
        WHEREAS, at a meeting of the holders of the Warrants, holders of at least 65% of the Public Warrants approved that, effective as of the Trinity Effective Time, and pursuant to this Agreement, (i)
          the anti-dilution provisions and certain provisions relating to the payment of cash dividends contained in Section 4.1.2 of the Warrant Agreement relating to the payment of cash dividends and applicable to the Warrants shall be amended, (ii) each
          Public Warrant shall become exercisable for one-quarter of one share of Company Common Stock with an exercise price of $2.875 per one-quarter share ($11.50 per whole share), and (iii) each holder of a Public Warrant shall be entitled to receive a
          special distribution of $1.60 per Public Warrant as soon as reasonably practicable following the Trinity Effective Time.

      

      
        

        

      

      
        NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending
          to be legally bound hereby, the parties hereto agree as follows:

      

      
        

        

      

      1       Amendment of Existing Warrant Agreement.  The Company and the Warrant Agent hereby amend the Existing Warrant Agreement as
        provided in this Section 1, effective as of the Trinity Effective Time.

       

      1.1          Private Placement Warrant Amendments.

      

      

      1.1.1          The following clause of Section 2.5 of the Existing Warrant Agreement, “The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they are held
        by the Sponsor or any of its Permitted Transferees (as defined below) the Private Placement Warrants:”, is hereby deleted in its entirety and replaced as follows:

      

      

      “The Private Placement Warrants shall be identical to the Public Warrants, except (x) that Private Placement Warrants shall be exercisable for one fully paid and non-assessable share of Common
        Stock at an exercise price per share of Common Stock of $11.50, as set forth in Exhibit A hereto and (y) that so long as they are held by the Sponsor or any of its Permitted Transferees (as defined below) the Private Placement Warrants:”

       

      
        
          

      

      1.1.2          The last sentence of Section 6.4 of the Existing Warrant Agreement is hereby deleted in its entirety and replaced as follows:

       

      “Private Placement Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer be treated as Public Warrants under this Agreement, except (i) that Private
        Placement Warrants shall continue to be exercisable for one fully paid and non-assessable share of Common Stock at an exercise price per share of Common Stock of $11.50,  as set forth in Exhibit A hereto, and (ii) Private Placement Warrants
        shall not be treated as Public Warrants for purposes of Section 2.3.1 of this Agreement.”

      

      

      1.2        The Anti-Dilution Amendment.  Section 4.1.2 of the Existing Warrant Agreement is hereby deleted in its entirety and replaced as follows:

       

      “4.1.2  Extraordinary Dividends.  If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution in cash, securities or other
        assets to the holders of the Common Stock on account of such shares of Common Stock (or other shares of the Company’s capital stock into which the Warrants are convertible), other than (a) as described in subsection 4.1.1 above, (b) regular
        monthly, quarterly or other periodic cash dividends or cash distributions, (c) any other cash dividend or distribution required to be paid in order for the Company to qualify or maintain its status as a real estate investment trust within the
        meaning of the Internal Revenue Code of 1986, as amended, or otherwise avoid the imposition of U.S. federal and state income and excise taxes, so long as the Company qualifies or is seeking to maintain its status as a real estate investment trust
        at the time of such cash dividend or distribution, (d) to satisfy the redemption rights of the holders of the Common Stock in connection with a proposed initial Business Combination, (e) as a result of the repurchase of shares of Common Stock by
        the Company if a proposed Business Combination is presented to the stockholders of the Company for approval, (f) to satisfy the redemption rights of the holders of Common Stock in connection with a stockholder vote to amend the Company’s amended
        and restated certificate of incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares of Common Stock if the Company does not complete the Business Combination within the period set forth in the
        Company’s amended and restated certificate of incorporation or (g) in connection with the redemption of public shares of Common Stock upon the failure of the Company to complete its initial Business Combination and any subsequent distribution of
        its assets upon its liquidation (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately
        after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board, in good faith) of any securities or other assets paid on each share of Common Stock in respect of such
        Extraordinary Dividend.”

       

      1.3          Warrant Price.  Section 3.1 of the Existing Warrant Agreement is hereby deleted in its entirety and replaced as follows:

       

      
        
          

      

      “3.1  Warrant Price.  Each Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this Agreement,
        to purchase from the Company the number of shares of Common Stock, at such price equal to the Exercise Price described in Exhibit A for such Public Warrants and Private Placement Warrants, as applicable (each subject to the adjustments
        provided in Section 4 hereof and in the last sentence of this Section 3.1); provided, however, that a Public Warrant may not be exercised for a fractional share, so that only a multiple of four Public Warrants may be
        exercised at a given time.  The term “Warrant Price” as used in this Agreement shall mean the Exercise Price (as specified in Exhibit A hereto) at which shares of Common Stock may
        be purchased at the time a Warrant is exercised.  The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days, provided, that the
        Company shall provide at least twenty (20) days prior written notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among all of the Warrants.”

       

      1.4          The Warrant Cash Payment.  A new Section 7.4.3 is hereby inserted in to the Existing Warrant Agreement and shall read as follows:

       

      
        “7.4.3  Mandatory Cash Distribution.  Notwithstanding anything contained in this Agreement to the contrary, at the Effective Time (as defined in
          the Merger Agreement), each Public Warrant issued and outstanding immediately prior to the Effective Time shall, automatically and without any action by the Registered Holder thereof, be entitled to receive a cash distribution payable by or at
          the direction of the Company as soon as reasonably practicable following the Effective Time, upon receipt of any documents as may reasonably be required by the Warrant Agent, in the amount of $1.60.”

         

        1.5         Form of Warrant Certificate.  The second and third paragraphs of Exhibit A to the Existing Warrant Agreement are hereby deleted and
          replaced as follows:

      

       

      
        “Each Public Warrant is exercisable for one-quarter of one fully paid and non-assessable share of Common Stock.  The Exercise Price per share of Common Stock for any Public Warrant is equal to
          $2.875 per one-quarter share ($11.50 per whole share); provided, however, that a Public Warrant may not be exercised for a fractional share, so that only a multiple of four Public Warrants may be exercised at a given time.

         

        Each Private Placement Warrant is exercisable for one fully paid and non-assessable share of Common Stock.  The Exercise Price per share of Common Stock for any Private Placement Warrant is
          equal to $11.50 per share.

         

        No fractional shares will be issued upon exercise of any Warrant.  If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a share of Common Stock, the
          Company will, upon exercise, round down to the nearest whole number. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.”

         

      

      
        
          
            2       Miscellaneous Provisions.

          

        

      

       

      2.1         Effectiveness of Warrant.  Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement shall be expressly
        subject to the closing of the Merger Agreement and shall automatically be terminated and shall be null and void if the Merger Agreement shall be terminated or fail to close for any reason.

       

      
        
          

      

      2.2          Successors.  All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure
        to the benefit of their respective successors and assigns.

       

      2.3          Applicable Law.  The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the
        laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.  The Company hereby agrees that any action, proceeding or claim against it
        arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction,
        which jurisdiction shall be exclusive.  The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

       

      2.4          Counterparts.  This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
        purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

       

      2.5          Effect of Headings.  The section headings herein are for convenience only and are not part of this Agreement and shall not affect the
        interpretation thereof.

       

      2.6          Severability.  This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not
        affect the validity or enforceability of this Agreement or of any other term or provision hereof.  Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
        Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

       

      2.7          Entire Agreement.  The Existing Warrant Agreement, as modified by this Agreement, constitutes the entire understanding of the parties and
        supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises and
        commitments are hereby canceled and terminated.

       

      
        [Signature page follows]

         

        

      

      
        
          

      

      
        IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as
            of the date first above written.

      

      
        

        

      

      	 	
              TRINITY MERGER CORP.

            
	 	 
	 	
              By:

            	
              /s/ Sean A. Hehir

            
	 	 	
              Name:    Sean A. Hehir

            
	 	 	
              Title:  President and Chief Executive Officer

            
	 	 	 
	 	
              CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

            
	 	 	 
	 	
              By:

            	
               /s/ Ana Gois

            
	 	 	
              Name:   Ana Gois

            
	 	 	
              Title:   Vice President

            

      
        

        

      

      [Signature Page to Amendment of Warrant Agreement]Exhibit 4.5

      
        

        

        SECOND AMENDMENT OF

        WARRANT AGREEMENT

        

        

      

      
        THIS SECOND AMENDMENT OF WARRANT AGREEMENT (this “Agreement”), made as of November 14, 2019, is made by and among Broadmark Realty Capital Inc., a Maryland
          corporation (“Broadmark Realty”), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (“Continental”), and American Stock
          Transfer & Trust Company, LLC, a New York limited liability trust company (“AST”).

      

      
        

        

      

      
        WHEREAS, Trinity Merger Corp., a Delaware corporation (“Trinity”) and Continental are parties to that certain Warrant Agreement, dated as of May 14, 2018
          and filed with the United States Securities and Exchange Commission (“SEC”) on May 17, 2018, and amended (the “First Amendment”) on November 14, 2019 (as modified,
          the “Existing Warrant Agreement”), pursuant to which Trinity issued 34,500,000 warrants (the “Public Warrants”) in its initial public offering and 12,350,000 private
          placement warrants (“Private Placement Warrants”, together with the Public Warrants, the “Warrants”), each representing the right to purchase one share of Class A
          common stock, par value $0.0001, of Trinity (“Common Stock”);

        

        

        WHEREAS, capitalized terms used herein, but not otherwise defined, shall have the meanings given to such terms in the Existing Warrant Agreement;

        

        

        WHEREAS, effective as of August 9, 2019, Trinity entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Broadmark Realty Capital Inc.
          (formerly known as Trinity Sub Inc.), a Maryland corporation and wholly owned subsidiary of Trinity, Trinity Merger Sub I Inc., a Delaware corporation and wholly owned subsidiary of Broadmark Realty (“Merger Sub I”),

          Trinity Merger Sub II LLC, a Delaware limited liability company and wholly owned subsidiary of Broadmark Realty, PBRELF I, LLC, a Washington limited liability company, BRELF II, LLC, a Washington limited liability company, BRELF III, LLC, a
          Washington limited liability company, BRELF IV, LLC, a Washington limited liability company, Pyatt Broadmark Management, LLC, a Washington limited liability company, Broadmark Real Estate Management II, LLC, a Washington limited liability
          company, Broadmark Real Estate Management III, LLC, a Washington limited liability company, and Broadmark Real Estate Management IV, LLC, a Washington limited liability company;

      

      
        

        

      

      
        WHEREAS, the Merger Agreement provides, among other things, that each share of Common Stock issued and outstanding immediately prior to the the effective time of merger of Merger Sub I with and
          into the Trinity, with Trinity being the surviving entity of such merger (such merger, the “Trinity Merger”, and such effective time of the Trinity Merger, the “Trinity
            Effective Time”) shall automatically be converted into one validly issued, fully paid and non-assessable share of common stock of Broadmark Realty, par value $0.001 (“Broadmark Realty Common Stock”)

          and (ii) each Warrant that is outstanding immediately prior to the Trinity Effective Time, shall represent the right to acquire shares of Broadmark Realty Common Stock, on the same contractual terms and conditions as were in effect immediately
          prior to the Trinity Effective Time, under the terms of the Existing Warrant Agreement as amended by this Agreement;

        

        

        
          
            

        

        WHEREAS, the transactions contemplated by the Merger Agreement closed on the date of this Agreement;

        

        

        WHEREAS, pursuant to Section 4.4 of the Existing Warrant Agreement, Broadmark Realty, as successor-in-interest to Trinity, desires to execute this Agreement with the Warrant Agent providing for
          delivery of Broadmark Realty Common Stock to holders of Warrants in lieu of Common Stock, when exercising their right to acquire shares of Common Stock, on the same contractual terms and conditions as were in effect immediately prior to the
          closing of the Trinity Effective Time, subject only to the modified terms resulting from the First Amendment;

        

        

        WHEREAS, Continental has agreed to resign its duties as the Warrant Agent as of the date hereof, and AST has agreed to serve as successor Warrant Agent from and after the date hereof; and

        

        

        WHEREAS, pursuant to Section 9.8 of the Existing Warrant Agreement, the parties may amend the Existing Warrant Agreement without the consent of the Registered Holders.

      

      
        

        

      

      
        NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending
          to be legally bound hereby, the parties hereto agree as follows:

      

      
        

        

      

      1          Amendment of Existing Warrant Agreement.  The parties hereby amend, effective as of the date of this Agreement, the Existing
        Warrant Agreement as provided in this Section 1.

       

      1.1          Farallon Warrants Amendment.  A new Section 2.6 is hereby inserted in to the Existing Warrant Agreement and shall read as follows:

       

      “2.6  PIPE Warrants.  The Company has issued an aggregate of 7,174,613 warrants to certain entities affiliated with Farallon Capital Management, L.L.C. (the “PIPE Warrants”).  PIPE Warrants shall be deemed to be Public Warrants for purposes of this Agreement in all respects, including Exhibit A hereto; provided, however, that the PIPE Warrants shall
        bear the following legend:

      

      

      THIS SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR
        OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE ISSUER OF THIS SECURITY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE
        TRANSFERRED, ONLY (I) PURSUANT TO ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, (II) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR (III) TO THE ISSUER OF THIS SECURITY, IN EACH OF CASES (I)
        THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL NOTIFY ANY SUBSEQUENT PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. THE ISSUER OF
        THIS SECURITY MAY REQUIRE THE DELIVERY OF A WRITTEN OPINION OF COUNSEL, CERTIFICATIONS AND/OR ANY OTHER INFORMATION IT REASONABLY REQUIRES TO CONFIRM THE SECURITIES ACT EXEMPTION FOR SUCH TRANSACTION.”

      

      

      
        
          

      

      1.2           Alternative Issuance Amendment.  A new Section 4.9 is hereby inserted in to the Existing Warrant Agreement and shall read as follows:

       

      “4.9  Alternative Issuance; Right to acquire Broadmark Realty Common Stock.  In connection with the Company consummating its initial Business Combination as of November [15], 2019, the
        Warrants now represent the right to acquire shares of common stock, par value $0.001, of Broadmark Realty Capital Inc., a Maryland corporation and successor-in-interest to the Company as a result of the Business Combination (“Broadmark Realty Common Stock”), in lieu of the right to acquire shares of Common Stock.  For the avoidance of doubt the right to acquire shares of Broadmark Realty Common Stock shall be on
        the same terms and conditions as and replace the right to acquire shares of Common Stock, as set forth in this Agreement.”

      

      

      1.3          Change in Warrant Agent Amendment.  References to “Continental Stock Transfer & Trust Company” in the Existing Warrant Agreement shall be
        replaced with “American Stock Transfer & Trust Company”.

       

      1.4          Change of Address of Warrant Agent.  Section 9.2 of the Existing Warrant Agreement is hereby amended to direct that any notice, statement or
        demand authorized by the Existing Warrant Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company pursuant to Section 9.2 shall be delivered to:

       

      American Stock Transfer & Trust Company

      48 Wall Street, 22nd Floor

      New York, NY 10005

      Email: Reorgwarrants@astfinancial.com

       

      
        
          
            1.5          Change of Address of Company.  Section 9.2 of the
              Existing Warrant Agreement is hereby amended to direct that any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company pursuant to Section 9.2
              shall be delivered to

          

        

      

       

      Broadmark Realty Capital Inc.

      1420 Fifth Avenue, Suite 2000

      Seattle, WA 98101

      Attention: Adam Fountain

       

      2           Warrant Agent Succession and Resignation of Current Warrant Agent and Appointment of Successor.  Continental hereby resigns as Warrant Agent, and
        Broadmark Realty hereby appoints AST to act as the Warrant Agent for Broadmark Realty for the Warrants, and AST hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in the Existing
        Agreement as modified by this Agreement.

       

      
        
          
            
              
                

            

            3           Miscellaneous Provisions.

          

        

      

       

      3.1          Successors. All the covenants and provisions of this Agreement by or for the benefit of the parties shall bind and inure to the benefit of
        their respective successors and assigns.

       

      3.2          Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the
        laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.  Broadmark Realty hereby agrees that any action, proceeding or claim against
        it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction,
        which jurisdiction shall be exclusive.  Broadmark Realty hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

       

      3.3          Counterparts.  This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
        purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

       

      3.4        Effect of Headings.  The section headings herein are for convenience only and are not part of this Agreement and shall not affect the
        interpretation thereof.

       

      3.5          Severability.  This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not
        affect the validity or enforceability of this Agreement or of any other term or provision hereof.  Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
        Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

       

      3.6          Entire Agreement.  The Existing Warrant Agreement, as modified by this Agreement, constitutes the entire understanding of the parties and
        supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises and
        commitments are hereby canceled and terminated.

       

      
        [Signature page follows]

         

        

      

      
        
          

      

      
        IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as
            of the date first above written.

      

      
        

        

      

      	 	
              BROADMARK REALTY CAPITAL INC.

            
	 	 
	 	
              By:

            	
              /s/ Jeffrey B. Pyatt

            
	 	 	
              Name:    Jeffrey B. Pyatt

            
	 	 	
              Title:   Chief Executive Officer

            
	 	 	 
	 	
              CONTINENTAL STOCK TRANSFER & TRUST COMPANY

            
	 	 	 
	 	
              By:

            	
               /s/ Ana Gois

            
	 	 	
              Name:   Ana Gois

            
	 	 	
              Title:   Vice President

            

      
        

        

      

      	 	
              AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC

            
	 	 	 
	 	
               By:

            	
               /s/ Michael Legregin

            
	 	 	
              Name:   Michael Legregin

            
	 	 	
              Title:  SVP, Attorney Advisory Group

            

      

      

      [Signature Page to Second Amendment of Warrant Agreement]

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