Document:

EX-10.6

 Exhibit 10.6 

SECURITY AGREEMENT 
 This
SECURITY AGREEMENT, dated as of September 22, 2014 (as amended, supplemented or otherwise modified from time to time in accordance with the provisions hereof, this “Agreement”), made by TCW DL BRIDGE, LLC,
a Delaware limited liability company (“Grantor”), in favor of NATIXIS, NEW YORK BRANCH, for the benefit of the Secured Parties (as defined in the Credit Agreement) (“Secured Party”). 

WHEREAS, on the date hereof, the Lenders agreed from time to time to make loans to Grantor under that certain Revolving Credit
Agreement of even date herewith (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among Grantor, as borrower (“Borrower”), Secured Party, as Funding
Agent and Committed Lender, and the lenders party thereto from time to time (the “Lenders”); 
 WHEREAS, this
Agreement is given by Grantor in favor of Secured Party to secure the payment and performance of all of the Secured Obligations (defined below); and 

WHEREAS, it is a condition to the obligations of Secured Party to make loans under the Credit Agreement that Grantor execute and
deliver this Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants, terms and conditions set forth herein, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1.
DEFINITIONS. 
 (a) Unless otherwise defined herein, capitalized terms used herein shall have the meanings assigned to
such terms in the Credit Agreement. 
 (b) Unless otherwise specified herein, all references to Sections and Schedules herein
are to Sections and Schedules of this Agreement. 
 (c) Unless otherwise defined herein, terms used herein that are defined
in the UCC shall have the meanings assigned to them in the UCC. However, if a term is defined in Article 9 of the UCC differently than in another Article of the UCC, the term has the meaning specified in Article 9. 

(d) For purposes of this Agreement, the following terms shall have the following meanings: 

“Collateral” has the meaning set forth in Section 2. 

“Event of Default” has the meaning set forth in the Credit Agreement. 

“Secured Obligations” means the Obligations as defined in the Credit Agreement. 

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York or, when the laws of
any other state govern the method or manner of the perfection or enforcement of any security interest in any of the Collateral, the Uniform Commercial Code as in effect from time to time in such state. 

 2. GRANT OF SECURITY INTEREST. As collateral security for the prompt and complete payment and performance
when due in full of the Secured Obligations, Grantor hereby grants to Secured Party, and hereby creates a Lien on and a security interest in favor of Secured Party in and to all of its right, title and interest in and to the following, wherever
located, whether now existing or hereafter from time to time arising or acquired (collectively, the “Collateral”): 

(a) all fixtures and personal property of every kind and nature including all accounts, goods (including inventory and
equipment), documents (including, if applicable, electronic documents), instruments, promissory notes, chattel paper (whether tangible or electronic), letters of credit, letter-of-credit rights (whether or not the letter of credit is evidenced by a
writing), securities and all other investment property, commercial tort claims described on Schedule 1 hereof as supplemented by any written notification given by Grantor to Secured Party pursuant to Section 4(d),
general intangibles (including, without limitation, all Loan Sale Agreements, the Acknowledgment and Undertaking Agreement and all payment intangibles), money, deposit accounts, and any other contract rights or rights to the payment of money; 

(b) all books and records relating to the foregoing, all supporting obligations related thereto, and all accessions to,
substitutions and replacements for, and rents, profits and products of, each of the foregoing; and 
 (c) to the extent not
otherwise included, all Proceeds and products of each of the foregoing. 
 3. RESERVED. 

4. PERFECTION OF SECURITY INTEREST AND FURTHER ASSURANCES. 

(a) Grantor shall, from time to time, as may be required by Secured Party with respect to all Collateral, immediately take all
actions as may be requested by Secured Party to perfect the security interest of Secured Party in the Collateral, including, without limitation, with respect to all Collateral over which “control” may be obtained within the meaning of
Sections 8-106, 9-105, 9-106 and 9-107 of the UCC, Grantor shall immediately take all actions as may be reasonably requested from time to time by Secured Party so that control of such Collateral is obtained and at all
times held by Secured Party. All of the foregoing shall be at the sole cost and expense of Grantor. 
 (b) Grantor hereby
irrevocably authorizes Secured Party at any time and from time to time to file in any relevant jurisdiction any financing statements and amendments thereto that contain the information required by Article 9 of the UCC of each applicable
jurisdiction for the filing of any financing statement or amendment relating to the Collateral, including any financing or continuation statements or other documents for the purpose of perfecting, confirming, continuing, enforcing or protecting the
security interest granted by Grantor hereunder, without the signature of Grantor where permitted by law, including the filing of a financing statement describing the Collateral as all assets now owned or hereafter acquired by Grantor, or words of
similar effect. Grantor agrees to provide all information required by Secured Party pursuant to this Section 4(b) promptly to Secured Party upon request. 

(c) If Grantor shall at any time hold or acquire any certificated securities, promissory notes, tangible chattel paper,
negotiable documents or warehouse receipts relating to the Collateral, Grantor shall immediately endorse, assign and deliver the same to Secured Party, 

  
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accompanied by such instruments of transfer or assignment duly executed in blank as Secured Party may from time to time specify. 

(d) If Grantor shall at any time hold or acquire a commercial tort claim, Grantor shall (i) immediately notify Secured
Party in a writing signed by Grantor of the particulars thereof and grant to Secured Party in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance
satisfactory to Secured Party and (ii) deliver to Secured Party an updated Schedule 1. 
 (e) If any
Collateral is at any time in the possession of a bailee, Grantor shall promptly notify Secured Party thereof and, at Secured Party’s request and option, shall promptly obtain an acknowledgment from the bailee, in form and substance satisfactory
to Secured Party, that the bailee holds such Collateral for the benefit of Secured Party and the bailee agrees to comply, without further consent of Grantor, at any time with instructions of Secured Party as to such Collateral. 

(f) Grantor agrees that at any time and from time to time, at the expense of Grantor, to promptly execute and deliver all
further instruments and documents, obtain such agreements from third parties, and take all further action, that may be necessary or desirable, or that Secured Party may reasonably request, in order to perfect and protect any security interest
granted hereby or to enable Secured Party to exercise and enforce its rights and remedies hereunder or under any other agreement with respect to any Collateral. 

5. REPRESENTATIONS AND WARRANTIES. Grantor represents and warrants as follows: 

(a) The Collateral consisting of securities have been duly authorized and validly issued, and are fully paid and non-assessable
(other than securities in limited liability companies and partnerships) and subject to no options to purchase or similar rights. Grantor holds no commercial tort claims except as indicated on Schedule 1. None of the Collateral
constitutes, or is the proceeds of, “farm products” as defined in Section 9-102(a)(34) of the UCC. None of the account debtors or other persons obligated on any of the Collateral is a governmental authority covered by the
Federal Assignment of Claims Act or like federal, state or local statute or rule in respect of such Collateral. 
 (b) At the
time the Collateral becomes subject to the Lien and security interest created by this Agreement, Grantor will be the sole, direct, legal and beneficial owner thereof, free and clear of any Lien except for the security interest created by this
Agreement and other Permitted Liens. 
 (c) The pledge of the Collateral pursuant to this Agreement creates a valid and
perfected security interest in favor of the Secured Party in the Collateral subject, in the case of all Collateral in which a security interest may be perfected by filing of a financing statement under the UCC, the completion of such filings. 

(d) The Grantor has full power, authority and legal right to pledge the Collateral pursuant to this Agreement. 

(e) This Agreement has been duly authorized, executed and delivered by Grantor and constitutes a legal, valid and binding
obligation of Grantor enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar 

  
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laws affecting creditors’ rights generally and subject to equitable principles (regardless of whether enforcement is sought in equity or at law). 

(f) Other than as otherwise required under the this Agreement, the Credit Agreement or other Loan Documents, no authorization,
approval, or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for the borrowing of the Loans and the pledge by Grantor of the Collateral pursuant to this Agreement or for the execution and
delivery of the Credit Agreement, the other Loan Documents and this Agreement by Grantor or the performance by Grantor of its obligations thereunder. 

(g) The execution and delivery of this Agreement by Grantor and the performance by Grantor of its obligations hereunder, will
not violate any provision of any applicable law or regulation or any order, judgment, writ, award or decree of any court, arbitrator or governmental authority, domestic or foreign, applicable to Grantor or any of its property, or the organizational
or governing documents of Grantor or any agreement or instrument to which Grantor is party or by which it or its property is bound. 

(h) Grantor has taken all action reasonably required on its part for “control (as defined in Sections 8-106,
9-105, 9-106 and 9-107 of the UCC, as applicable) to have been obtained by Secured Party over all Collateral with respect to which such control may be obtained pursuant to the UCC. Grantor has taken all reasonable actions
required to ensure that no person other than Secured Party has control or possession of all or any part of the Collateral. 
 6. VOTING, DISTRIBUTIONS
AND RECEIVABLES. 
 (a) Secured Party agrees that unless an Event of Default shall have occurred and be continuing,
Grantor may, to the extent Grantor has such right as a holder of the Collateral consisting of securities, other equity interests or indebtedness owed by any obligor, vote and give consents, ratifications and waivers with respect thereto, except to
the extent that, in Secured Party’s reasonable judgment, any such vote, consent, ratification or waiver could detract from the value thereof as Collateral or which could be inconsistent with or result in any violation of any provision of the
Credit Agreement or this Agreement, and from time to time, upon request from Grantor, Secured Party shall deliver to Grantor suitable proxies so that Grantor may cast such votes, consents, ratifications and waivers. 

(b) Secured Party agrees that Grantor may, unless an Event of Default shall have occurred and be continuing, receive and retain
all cash dividends and other distributions with respect to the Collateral consisting of securities, other equity interests or indebtedness owed by any obligor. 

(c) If any Event of Default shall have occurred and be continuing, Secured Party may, or at the request and option of Secured
Party Grantor shall, notify account debtors and other persons obligated on any of the Collateral of the security interest of Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is
to be made directly to Secured Party. 
 7. COVENANTS. Grantor covenants as follows: 

(a) Grantor will not, without providing at least thirty (30) days’ prior written notice to Secured Party, change its
legal name, identity, type of organization, jurisdiction of organization, corporate structure, location of its chief executive office or its principal place of 

  
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business or its organizational identification number. Grantor will, prior to any change described in the preceding sentence, take all actions reasonably requested by Secured Party to maintain the
perfection and priority of Secured Party’s security interest in the Collateral. 
 (b) The Collateral, to the extent not
delivered to Secured Party pursuant to Section 4, will be kept at those locations disclosed to Secured Party and Grantor will not remove the Collateral from such locations without providing at least thirty (30) days’
prior written notice to Secured Party. Grantor will, prior to any change described in the preceding sentence, take all actions reasonably required by Secured Party to maintain the perfection and priority of Secured Party’s security interest in
the Collateral. 
 (c) Grantor shall, at its own cost and expense, defend title to the Collateral and the Lien and security
interest of Secured Party therein against the claim of any person claiming against or through Grantor and shall maintain and preserve such perfected security interest for so long as this Agreement shall remain in effect. 

(d) Grantor will not sell, offer to sell, dispose of, convey, assign or otherwise transfer, grant any option with respect to,
restrict, or grant, create, permit or suffer to exist any mortgage, pledge, lien, security interest, option, right of first offer, encumbrance or other restriction or limitation of any nature whatsoever on, any of the Collateral or any interest
therein without the prior written consent of Secured Party. 
 (e) Grantor will keep the Collateral in good order and repair
and will not use the same in violation of law or any policy of insurance thereon. Grantor will permit Secured Party, or its designee, to inspect the Collateral at any reasonable time, wherever located. 

(f) Grantor will pay promptly when due all taxes, assessments, governmental charges, and levies upon the Collateral or incurred
in connection with the use or operation of the Collateral or incurred in connection with this Agreement. 
 8. SECURED PARTY APPOINTED
ATTORNEY-IN-FACT. Grantor hereby appoints Secured Party as Grantor’s attorney-in-fact, with full authority in the place and stead of Grantor and in the name of Grantor or otherwise, from time to time during the continuance of an Event of
Default in Secured Party’s discretion to take any action and to execute any instrument which Secured Party may deem necessary or advisable to accomplish the purposes of this Agreement (but Secured Party shall not be obligated to and shall have
no liability to Grantor or any third party for failure to do so or take action). This appointment, being coupled with an interest, shall be irrevocable. Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue
hereof. 
 9. SECURED PARTY MAY PERFORM. If Grantor fails to perform any obligation contained in this Agreement, during an Event of Default, Secured
Party may itself perform, or cause performance of, such obligation, and the expenses of Secured Party incurred in connection therewith shall be payable by Grantor; provided that Secured Party shall not be required to perform or discharge any
obligation of Grantor. 
 10. REASONABLE CARE. Secured Party shall have no duty with respect to the care and preservation of the Collateral beyond
the exercise of reasonable care. Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which Secured
Party accords its own property, it being understood that Secured Party shall not have any responsibility for (a) ascertaining or taking action with respect to any claims, the nature or sufficiency of any payment or performance by any party 

  
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under or pursuant to any agreement relating to the Collateral or other matters relative to any Collateral, whether or not Secured Party has or is deemed to have knowledge of such matters, or
(b) taking any necessary steps to preserve rights against any parties with respect to any Collateral. Nothing set forth in this Agreement, nor the exercise by Secured Party of any of the rights and remedies hereunder, shall relieve Grantor from
the performance of any obligation on Grantor’s part to be performed or observed in respect of any of the Collateral. 
 11. REMEDIES UPON
DEFAULT. If any Event of Default shall have occurred and be continuing: 
 (a) Secured Party, without any other notice to
or demand upon Grantor, may assert all rights and remedies of a secured party under the UCC or other applicable law, including, without limitation, the right to take possession of, hold, collect, sell, lease, deliver, grant options to purchase or
otherwise retain, liquidate or dispose of all or any portion of the Collateral. If notice prior to disposition of the Collateral or any portion thereof is necessary under applicable law, written notice mailed to Grantor at its notice address as
provided in Section 15 hereof ten (10) days prior to the date of such disposition shall constitute reasonable notice, but notice given in any other reasonable manner shall be sufficient. So long as the sale of the Collateral
is made in a commercially reasonable manner, Secured Party may sell such Collateral on such terms and to such purchaser(s) as Secured Party in its absolute discretion may choose, without assuming any credit risk and without any obligation to
advertise or give notice of any kind other than that necessary under applicable law. Without precluding any other methods of sale, the sale of the Collateral or any portion thereof shall have been made in a commercially reasonable manner if
conducted in conformity with reasonable commercial practices of creditors disposing of similar property. At any sale of the Collateral, if permitted by applicable law, Secured Party may be the purchaser, licensee, assignee or recipient of the
Collateral or any part thereof and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold, assigned or licensed at such sale, to use and apply any of the
Secured Obligations as a credit on account of the purchase price of the Collateral or any part thereof payable at such sale. To the extent permitted by applicable law, Grantor waives all claims, damages and demands it may acquire against Secured
Party arising out of the exercise by it of any rights hereunder. Grantor hereby waives and releases to the fullest extent permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale hereunder, and
all rights, if any, of marshalling the Collateral and any other security for the Secured Obligations or otherwise. At any such sale, unless prohibited by applicable law, Secured Party or any custodian may bid for and purchase all or any part of the
Collateral so sold free from any such right or equity of redemption. Neither Secured Party nor any custodian shall be liable for failure to collect or realize upon any or all of the Collateral or for any delay in so doing, nor shall it be under any
obligation to take any action whatsoever with regard thereto. Secured Party shall not be obligated to clean-up or otherwise prepare the Collateral for sale. 

(b) All rights of Grantor to (i) exercise the voting and other consensual rights it would otherwise be entitled to
exercise pursuant to Section 6(a) and (ii) receive the dividends and other distributions which it would otherwise be entitled to receive and retain pursuant to Section 6(b), shall immediately cease, and all
such rights shall thereupon become vested in Secured Party, which shall have the sole right to exercise such voting and other consensual rights and receive and hold such dividends and other distributions as Collateral. 

(c) Any cash held by Secured Party as Collateral and all cash Proceeds received by Secured Party in respect of any sale of,
collection from, or other realization upon all or any part of the Collateral shall be applied in whole or in part by Secured Party to the payment of expenses incurred by Secured Party in connection with the foregoing or incidental to the care or

  
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safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of Secured Party hereunder, including reasonable attorneys’ fees, and the balance of such proceeds
shall be applied or set off against all or any part of the Secured Obligations in such order as Secured Party shall elect. Any surplus of such cash or cash Proceeds held by Secured Party and remaining after payment in full of all the Secured
Obligations shall be paid over to Grantor or to whomsoever may be lawfully entitled to receive such surplus. Grantor shall remain liable for any deficiency if such cash and the cash Proceeds of any sale or other realization of the Collateral are
insufficient to pay the Secured Obligations and the fees and other charges of any attorneys employed by Secured Party to collect such deficiency. 

(d) If Secured Party shall determine to exercise its rights to sell all or any of the Collateral pursuant to this
Section, Grantor agrees that, upon request of Secured Party, Grantor will, at its own expense, do or cause to be done all such acts and things as may be necessary to make such sale of the Collateral or any part thereof valid and
binding and in compliance with applicable law. 
 12. NO WAIVER AND CUMULATIVE REMEDIES. Secured Party shall not by any act (except by a written
instrument pursuant to Section 14), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Event of Default. All rights and remedies herein provided are
cumulative and are not exclusive of any rights or remedies provided by law. 
 13. SECURITY INTEREST ABSOLUTE. Grantor hereby waives demand, notice,
protest, notice of acceptance of this Agreement, notice of loans made, credit extended, Collateral received or delivered or other action taken in reliance hereon and all other demands and notices of any description. All rights of Secured Party and
Liens and security interests hereunder, and all Secured Obligations of Grantor hereunder, shall be absolute and unconditional irrespective of: 

(a) any illegality or lack of validity or enforceability of any Secured Obligation or any related agreement or instrument; 

(b) any change in the time, place or manner of payment of, or in any other term of, the Secured Obligations, or any rescission,
waiver, amendment or other modification of the Note, this Agreement or any other agreement, including any increase in the Secured Obligations resulting from any extension of additional credit or otherwise; 

(c) any taking, exchange, substitution, release, impairment or non-perfection of any Collateral or any other collateral, or any
taking, release, impairment, amendment, waiver or other modification of any guaranty, for all or any of the Secured Obligations; 

(d) any manner of sale, disposition or application of proceeds of any Collateral or any other collateral or other assets to all
or part of the Secured Obligations; 
 (e) any default, failure or delay, willful or otherwise, in the performance of the
Secured Obligations; 
 (f) any defense, set-off or counterclaim (other than a defense of payment or performance) that may at
any time be available to, or be asserted by, Grantor against Secured Party; or 
 (g) any other circumstance (including,
without limitation, any statute of limitations) or manner of administering the Loans or any existence of or reliance on any representation by 

  
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Secured Party that might vary the risk of Grantor or otherwise operate as a defense available to, or a legal or equitable discharge of, Grantor or any other grantor, guarantor or surety. 

14. AMENDMENTS. None of the terms or provisions of this Agreement may be amended, modified, supplemented, terminated or waived, and no consent to any
departure by Grantor therefrom shall be effective unless the same shall be in writing and signed by Secured Party and Grantor, and then such amendment, modification, supplement, waiver or consent shall be effective only in the specific instance and
for the specific purpose for which made or given. 
 15. ADDRESSES FOR NOTICES. All notices and other communications provided for in this Agreement
shall be in writing and shall be given in the manner and become effective as set forth in the Credit Agreement and addressed to the respective parties at their addresses as set forth in the Credit Agreement or as to either party at such other
address as shall be designated by such party in a written notice to each other party. 
 16. CONTINUING SECURITY INTEREST; FURTHER ACTIONS. This
Agreement shall create a continuing Lien and security interest in the Collateral and shall (a) subject to Section 17, remain in full force and effect until payment and performance in full of the Secured Obligations,
(b) be binding upon Grantor, its successors and assigns, and (c) inure to the benefit of Secured Party and its successors, transferees and assigns; provided that Grantor may not assign or otherwise transfer any of its rights or
obligations under this Agreement without the prior written consent of Secured Party, such consent not to be unreasonably withheld. Without limiting the generality of the foregoing clause (c), any assignee of Secured Party’s interest in any
agreement or document which includes all or any of the Secured Obligations shall, upon assignment in accordance with Section 11.10 of the Credit Agreement, become vested with all the benefits granted to Secured Party herein with respect
to such Secured Obligations. 
 17. TERMINATION; RELEASE. On the date on which all Secured Obligations have been paid and performed in full (other
than contingent indemnification or expense reimbursement obligations), Secured Party will, at the request and sole expense of Grantor, (a) duly assign, transfer and deliver to or at the direction of Grantor (without recourse and without any
representation or warranty) such of the Collateral as may then remain in the possession of Secured Party, together with any monies at the time held by Secured Party hereunder, and (b) execute and deliver to Grantor a proper instrument or
instruments acknowledging the satisfaction and termination of this Agreement. 
 18. GOVERNING LAW. This and any claim, controversy, dispute or cause
of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement and the transactions contemplated hereby shall be governed by, and construed in accordance with, the laws of the State of New York. 

19. COUNTERPARTS. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or in electronic (i.e.,
“pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement. This Agreement shall constitute the entire contract among the parties with respect to the subject matter hereof and
supersede all previous agreements and understandings, oral or written, with respect thereto. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, Grantor has executed this Agreement as of the date first above written. 

 

					
	TCW DL BRIDGE, LLC,
	 as Grantor

		
	By:	 	 /s/ Richard M. Villa

		 	 Name:
	 	 Richard M. Villa

		 	 Title:
	 	Managing Director, Chief Financial Officer

  
 Signature Page to

 Security Agreement 

 
					
	NATIXIS, NEW YORK BRANCH,
	as Secured Party
		
	By:	 	 /s/ Kevin Alexander

		 	Name:	 	Kevin Alexander
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Nick Mitra

		 	Name:	 	Nick Mitra
		 	Title:	 	Executive Director

  
 Signature Page to

 Security Agreement 

 SCHEDULE 1 

COMMERCIAL TORT CLAIMS 
 None. 

  
 Schedule 1EX-10.7

 Exhibit 10.7 

ACKNOWLEDGMENT AND UNDERTAKING AGREEMENT 

This ACKNOWLEDGEMENT AGREEMENT (this “Agreement”) is made as of September 22, 2014, by TCW DIRECT
LENDING LLC, a Delaware limited liability company (“Fund”), for the benefit of TCW DL BRIDGE, LLC, a Delaware limited liability company (the “Company”). 

Recitals 
 A. Loan Sale
Agreements. From time to time, Fund and Company shall enter into Loan Sale Agreements (as defined in the Credit Agreement). 
 B.
Credit Agreement. Fund acknowledges that in connection with the Revolving Credit Agreement, dated as of September 22, 2014 (as amended, modified, supplemented, or restated from time to time, the “Credit
Agreement”), among Company and Natixis, New York Branch, as funding agent (“Funding Agent”) and committed lender, Company has pledged all of its assets, including all Loan Sale Agreements and all other agreements
Company may enter from time to time (including this Agreement). 
 C. Undertaking. In order to satisfy its payment obligations under
the Loan Sale Agreements (which shall be based on an amount not less than the principal amount of the underlying loans paid funded by the Company (net of any OID and closing fees), plus all accrued and unpaid interest on such loans as of the date
transferred) (collectively, the “LSA Obligations”), Fund shall draw down capital contributions from time to time from the Members on a pro rata basis pursuant to, and in accordance with, the Second Amended and Restated
Limited Liability Company Agreement of Fund, dated as of September 19, 2014 (as the same may be amended, restated, modified and supplemented from time to time, the “Operating Agreement”), and Fund acknowledges that
Company is relying on such undertaking in order to enter into, and perform its obligations under, such Loan Sale Agreements and the Credit Agreement. 

D. Defined Terms. Terms used herein that are not otherwise defined shall have the meanings assigned to them in the Operating Agreement
or, if not defined therein, the Credit Agreement. 
 Agreements and Undertakings 

 

	1.	Agreements and Undertakings by Fund. In connection with the execution and delivery of this Agreement, and the consummation of the transactions contemplated hereby and under the Loan Sale Agreements, Fund
covenants and agrees that on or before November 10, 2014, it shall call sufficient capital under the Operating Agreement to punctually meet any LSA Obligations under the Loan Sale Agreement in full as and when they become due. As of the date
hereof, the aggregate Unfunded Commitment of Members under the Operating Agreement is approximately $317,985,000. 

 Fund
acknowledges and agrees that monetary damages are not, and will not be, an adequate remedy to redress an actual or alleged breach of this Section 1, and that an actual or alleged breach of this Section 1 by Fund
would cause irreparable harm to Company. Accordingly, Fund acknowledges and agrees that upon any breach of this Section 1 by Fund, Company shall be entitled to equitable relief, in addition to any other relief available, including
without limitation the remedies of specific performance, temporary or permanent injunction and/or declaratory judgment, without any requirement to prove actual damages or post a bond, and Fund further agrees to waive any and all defenses or claims
that Company is not entitled to such equitable relief, or that equitable relief is not otherwise available to Company due to the alleged sufficiency 

  
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or availability of remedies at law, including monetary damages, or that Company is seeking such equitable remedies in bad faith. Notwithstanding anything herein to the contrary, failure to comply
with this Section 1 shall be an immediate default and not subject to any grace period. 
  

	2.	Representations and Warranties. In order to induce Company to enter into the Loan Sale Agreements (and Lenders to enter into the Credit Agreement), Fund does hereby represent and warrant to Company as of the date
hereof as follows: 

  

	 	(a)	Organization and Good Standing of Fund. Fund is a limited liability company, duly organized, validly existing and in good standing under the laws of the State of Delaware, has the requisite power and authority to
own its properties and assets and to carry on its business as now conducted, and is qualified to do business in every jurisdiction where the nature of the business conducted or the property owned or leased requires such qualification except where
the failure to be so qualified to do business would not reasonably be expected to result in a Material Adverse Effect. 

  

	 	(b)	Authorization and Power. Fund has the requisite power and authority to execute, deliver, and perform its obligations under this Agreement, the Operating Agreement and the Loan Sale Agreements, and is duly
authorized to, and has taken all action necessary, to execute, deliver, and perform its obligations under this Agreement, the Operating Agreement and Loan Sale Agreements and is and will continue to be duly authorized to perform its obligations
under this Agreement, the Operating Agreement and the Loan Sale Agreements. 

  

	 	(c)	Compliance with Law. Fund is, to the best of its knowledge, in compliance in all material respects with all material laws, rules, regulations, orders, and decrees which are applicable to it or its respective
properties, except where non-compliance could not reasonably be expected to have a Material Adverse Effect. 

  

	 	(d)	No Defenses. Fund knows of no default or circumstance which with the passage of time and/or notice would constitute a default under the Operating Agreement which would constitute a defense to the obligations of
the Members to make its capital contributions to Fund in accordance with the Subscription Agreements or the Operating Agreement, and has no knowledge of any claims of offset or any other claims of any Member against Fund which would or could
diminish or adversely affect the obligations of such Member to make Capital Contributions and fund Capital Calls in accordance with Subscription Agreements (and any related Side Letters between the Members and Fund which have been provided to
Funding Agent) or the Operating Agreement. 

  

	 	(e)	Capital Commitments and Contributions. There are no Capital Call Notices outstanding except as otherwise disclosed in writing to Company. Except as notified to Company, no Member is in default under the Operating
Agreement or its Subscription Agreement. Fund has become entitled under the terms of the Operating Agreement and the Subscription Agreements to make Capital Calls. Any Side Letter that has been executed by a Member and the Company has been provided
to the Company. 

  

	 	(f)	Foreign Asset Control Laws. Fund has policies and procedures in place which are reasonably designed to comply with all applicable United States anti-money laundering laws and regulations, including, without
limitation, applicable provisions of the USA Patriot Act of 2001 (“KYC Compliance”). Prior to the Closing Date, each Member has satisfied KYC Compliance. 

  
 Page 2 

	 	(g)	OFAC. Neither Fund, nor any of its Subsidiaries, nor, to the knowledge of Fund, any director, officer, employee, agent, affiliate or representative thereof, is an individual or entity currently the subject of any
Sanctions, nor is Fund or any Subsidiary located, organized or resident in a Designated Jurisdiction. 

  

	 	(h)	Subscription Facility. Fund confirms that the Transactions are permitted under Section 4.3.1 of the Operating Agreement. 

 

	3.	Affirmative Covenants. Fund agrees that, for so long as the LSA Obligations remain unpaid (other than contingent indemnification and expense reimbursement obligations for which no claim has been made), unless
otherwise agreed by Company (which in order for Company to agree, Fund acknowledges that Company is required to obtain the written consent of Funding Agent: 

  

	 	(a)	Reports and Documents. Fund will deliver to Company copies of the following: 

  

	 	(i)	Capital Call Notices. Promptly after the issuance thereof, a copy of each Capital Call Notice under Section 6.1 of the Operating Agreement delivered to a Member; 

 

	 	(ii)	Member Materials. Promptly after delivery to the Members, copies of all financial statements and reports from time to time prepared by Fund and furnished to the Members generally, including, without limitation,
any notice of default, notice of election or exercise of any rights or remedies under the Subscription Agreements or the Operating Agreement or any notices relating in any way to any Member’s Capital Commitment; and 

 

	 	(iii)	Other Materials. Such other information concerning the business, properties, or financial condition of Fund as Company may reasonably request in connection with any Exclusion Event. 

 

	 	(b)	Notice of Default. Fund shall promptly notify Company in writing upon becoming aware: (i) that a Member has violated or breached any of the material terms of the Operating Agreement (a “Defaulting
Member”); (ii) of the existence of any condition or event which, with the lapse of time or giving of notice or both would reasonably be expected to cause the Member to become a Defaulting Member; and (iii) of the existence of
any condition or event which constitutes a Fund Default, or breach of any representation or covenant hereunder and specifying the nature and period of existence thereof and the action which Fund is taking or proposes to take with respect thereto.

  

	 	(c)	Other Notices. Fund will, promptly upon receipt of actual knowledge thereof, notify Company of any of the following events that would reasonably be expected to result in a Material Adverse Effect: (a) any
change in the financial condition or business of Fund; (b) any default under any material agreement, contract, or other instrument to which Fund is a party or by which any of its properties are bound, or any acceleration of the maturity of any
material indebtedness owing by Fund permitted hereunder; (c) any uninsured claim against or affecting Fund or any of its properties; or (d) the commencement of any litigation with any third party or any proceeding before any Governmental
Authority affecting Fund which, if adversely determined, would reasonably be expected to result in a Material Adverse Effect and any material determination with respect thereto. 

  
 Page 3 

	 	(d)	Reserved. 

  

	 	(e)	Compliance with Operating Agreement and Use of Member Capital Contributions. Fund will use the proceeds of the Capital Contributions from the Members under the Operating Agreement only for such purposes as are
permitted by the Operating Agreement. 

  

	 	(f)	Compliance with Law. Fund will comply in all material respects with all material laws, rules, regulations, and all orders of any Governmental Authority which are applicable to it or its respective properties,
including, without limitation, ERISA, except where failure to comply could not reasonably be expected to have a Material Adverse Effect. 

  

	 	(g)	Action Upon Default by Members. Upon the failure of a Member to fund its respective Capital Contributions under the Operating Agreement, Fund will, upon the request of Company, exercise such rights and remedies
available to Fund under the Operating Agreement as to such Member in order to cure any default under the Operating Agreement by the failure of such Member to fund its required Capital Contributions. 

 

	 	(h)	Books and Records; Access. Fund will give any representative of Company access during all business hours to, and permit its representatives to examine, copy, or make excerpts from, any and all books, records, and
documents in the possession of Fund and relating to its affairs, and to inspect any of the properties of Fund. 

  

	 	(i)	No Bankruptcy Petition Against Company. Fund hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of the LSA Obligations, it will not institute against, or
encourage, cooperate with or join any other Person in instituting against Company any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the law of the United States or any state of the United States. The provisions
of this Section 3(b)(i) shall survive the termination of this Agreement. 

  

	4.	Negative Covenants. Fund agrees that, for so long as the LSA Obligations remain unpaid (other than contingent indemnification and expense reimbursement obligations for which no claim has been made), unless
otherwise agreed by Company (which in order for Company to agree, Fund acknowledges that Company is required to obtain the written consent of Funding Agent): 

  

	 	(a)	Mergers; Dissolution. Fund will not merge or consolidate with or into any Person (unless Fund is the surviving entity), or dissolve or terminate. 

 

	 	(b)	Negative Pledge. Fund will not create or suffer to exist any Lien upon the Fund Capital Commitment Rights (other than Permitted Liens). 

 

	 	(c)	Organizational Documents. Without the prior written consent of Company, Fund shall not alter, amend, modify, terminate, or change any provision of the Operating Agreement of Fund materially adversely affecting
the Fund Capital Commitment Rights. 

  

	 	(d)	Transfer of Interests. 

  

	 	(i)	Transfers by Members. Fund shall promptly notify Company of any notice of transfer of any Membership Interest of any Member. In addition, Fund shall not consent to the transfer of any of the Membership Interest
of any Member, without 

  
 Page 4 

	 	
the prior written consent of Company, and Fund will not admit any new Member that has not satisfied KYC Compliance. 

 

	 	(iii)	Documentation Requirements. Fund shall give prior written notice to Company of the transfer by any Member of its Membership Interest, and shall deliver thereto copies of documents relating to such transfer and
information about the transferee as reasonably required by Company as reasonably requested thereby. Company shall require that: (i) any Person admitted as a substitute or new Member (whether due to a transfer by an existing Member or otherwise)
(a “Subsequent Member”) shall, as a condition to such admission, deliver its executed Subscription Agreement and, if applicable, its Side Letter to Company in its reasonable discretion; and (ii) any existing Member that
is a transferee from another Member shall provide confirmation of its obligations under its Subscription Agreement with respect to any increase in its Capital Commitment relating to such transfer, and, to the extent not addressed in the
documentation previously delivered by such Member, evidence of its authority to assume such increased Capital Commitment, all as satisfactory to Company in its reasonable discretion. 

 

	 	(e)	Capital Commitments. Fund shall not: (i) without the prior written approval of Company, cancel, reduce, excuse, suspend or defer the Capital Commitment of any Investor; or (ii) excuse any Member from or
permit any Member to defer any Capital Contribution, if the proceeds from the related Capital Call Notice are to be applied to the LSA Obligations. 

  

	 	(f)	ERISA Compliance. Fund will not establish or maintain any Plan. 

  

	 	(g)	Limitations on Distributions. Fund will not make any payment of dividends or distributions to the Members at any time that an Event of Default or Potential Default (each, as defined in the Credit Agreement) has
occurred and is continuing. 

  

	 	(h)	Limitation on Indebtedness. Fund will not incur any Indebtedness. 

  

	5.	Notice. Any notice, demand, request or other communication which any party hereto may be required or may desire to give hereunder will be in writing and will be deemed to be effective: (a) if by hand
delivery, telecopy or other facsimile transmission, on the day and at the time on which delivered to such party at the address or fax numbers specified below; (b) if by mail, on the day which it is received after being deposited, postage
prepaid, in the United States registered or certified mail, return receipt requested, addressed to such party at the address specified below; or (c) if by FedEx or other reputable express mail service, on the next Business Day following the
delivery to such express mail service, addressed to such party at the address set forth below: 

 If to Company: 

 

			
	c/o The TCW Group, Inc.
	865 S. Figueroa Street
	Los Angeles, California 90017
	Attention:	  	Meredith Jackson
	Email:	  	meredith.jackson@tcw.com

  
 Page 5 

 If to Fund: 
  

			
	c/o TCW Direct Lending LLC.
	865 S. Figueroa Street
	Los Angeles, California 90017
	Attention:	  	Meredith Jackson
	Email:	  	meredith.jackson@tcw.com

  

	7.	Miscellaneous. 

  

	 	(a)	GOVERNING LAW. THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  

	 	(b)	No Third Party Beneficiaries; Collateral Assignment. Nothing expressed or referred to in this Agreement will be construed to give any Person other than Company any legal right or equitable right, remedy or claim
under or with respect to this Agreement of any provision of this Agreement; provided, however, this Agreement may be collaterally assigned by Company to Funding Agent, for the benefit of the Lenders under the Credit Agreement, and any
successor funding agent upon resignation of Funding Agent in accordance with the terms of the Credit Agreement, and any collateral assignee may rely on the representations, warranties and covenants of Fund provided herein. 

The Company hereby collaterally assigns to Funding Agent, with full right of substitution, all rights, titles, powers and privileges granted to
Company under this Agreement in order to secure the payment of Company’s Obligations under the Credit Agreement. Furthermore, upon the effectiveness of such collateral assignment by Company to Funding Agent, Company shall not grant any consent
hereunder (discretionary or otherwise) without the written consent of Funding Agent. 
  

	 	(c)	Jurisdiction; Venue; WAIVER OF JURY TRIAL. Any suit, action or proceeding against Fund with respect to this Agreement or any judgment entered by any court in respect thereof, may be brought in the courts of the
State of New York, or in the United States Courts located in the Borough of Manhattan in New York City, pursuant to Section 5-1402 of the New York General Obligations Law, Fund hereby submits to the non-exclusive
jurisdiction of such courts for the purpose of any such suit, action or proceeding. Fund hereby irrevocably consents to the service of process in any suit, action or proceeding in said court by the mailing thereof by Company by registered or
certified mail, postage prepaid, to Fund’s address set forth in Section 5 hereof. Fund hereby irrevocably waives any objections which they may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to this Agreement brought in the courts located in the State of New York, Borough of Manhattan in New York City, and each hereby further irrevocably waives any claim that any such suit, action or proceeding
brought in any such court has been brought in an inconvenient forum. FUND HEREBY WAIVES TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING BROUGHT IN CONNECTION WITH THIS AGREEMENT, WHICH WAIVER IS INFORMED AND VOLUNTARY. 

  
 Page 6 

	 	(d)	Invalid Provisions. If any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future laws effective during the term of this Agreement, such provision shall be fully
severable and this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect
and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement, unless such continued effectiveness of this Agreement, as modified, would be contrary to the basic understandings and intentions of
the parties as expressed herein. 

  

	 	(e)	Termination. On the earlier of the date (i) on which all LSA Obligations (other than contingent indemnification and expense reimbursement obligations for which no claim has been made) have been paid,
performed or discharged in full or (ii) the Credit Agreement has been terminated in accordance with its terms, this Agreement shall automatically terminate and be of no further force or effect. 

 

	 	(f)	Survival of Representations and Warranties. All representations and warranties made hereunder shall survive the execution and delivery hereof, and shall continue in full force and effect as long as any LSA
Obligation shall remain unpaid or unsatisfied. 

  

	 	(g)	No Waiver. No failure to exercise, and no delay in exercising, any right hereunder will operate as a waiver thereof, nor will any single or partial exercise thereof preclude any other further exercise thereof or
other exercise of any other right. 

 REMAINDER OF PAGE
INTENTIONALLY BLANK. 
 SIGNATURE PAGE(S)
FOLLOWS. 

  
 Page 7 

 Executed as of the date set forth above. 

 

					
	TCW DIRECT LENDING LLC
		
	By:	 	 /s/ Meredith Jackson

		 	Name:	 	Meredith Jackson
		 	Title:	 	Chief Compliance Officer
	
	TCW DL BRIDGE, LLC
		
	By:	 	 /s/ Richard M. Villa

		 	Name:	 	Richard M. Villa
		 	Title:	 	Managing Director, Chief Financial Officer

  
 Signature Page to

 Acknowledgment and Undertaking Agreement

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