Document:

Exhibit 10.12

 

Execution Version

 

JOINDER AGREEMENT

 

JOINDER AGREEMENT dated as
of February 4, 2022 by STATE STREET BANK AND TRUST COMPANY (the “Assuming Lender”), in favor of North Haven Private
Income Fund LLC, a Delaware limited liability company (the “Borrower”), and ING Capital LLC, as administrative agent
under the Credit Agreement referred to below (in such capacity, together with its successors in such capacity, the “Administrative
Agent”).

 

The Borrower, the Lenders
from time to time party thereto and the Administrative Agent are parties to a Senior Secured Revolving Credit Agreement, dated as of
February 1, 2022 (as amended by that certain Amendment No. 1 to Senior Secured Revolving Credit Agreement, dated as of February 4,
2022, and as further amended, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”).

 

Pursuant to Section 2.08(e) of
the Credit Agreement, the Assuming Lender hereby agrees to (and does hereby) become a “Lender” under and for all purposes
of the Credit Agreement with a Commitment as set forth in Schedule I hereto. Without limiting the foregoing, the Assuming Lender hereby
agrees to be bound by and comply with all of the terms and provisions of the Credit Agreement applicable to it as a “Lender”
thereunder.

 

The terms and provisions
of any new Loans issued by the Assuming Lender, and the new Commitment described herein, shall be identical to the terms and provisions
of Loans of the applicable Class issued by, and the Commitments of the applicable Class of, the Lenders immediately prior to
the date hereof.

 

Sections 9.06, 9.09 and 9.10
of the Credit Agreement apply to this Joinder Agreement mutatis mutandis.

 

     

     

    

 

IN WITNESS WHEREOF, the Assuming
Lender has caused this Joinder Agreement to be duly executed and delivered as of the day and year first above written.

 

STATE STREET BANK AND TRUST COMPANY

 

	By:	/s/ John Doherty	 

Name: John Doherty

Title: Vice President

 

     

     

    

 

Accepted and agreed:

NORTH HAVEN PRIVATE INCOME FUND LLC

 

	By:	/s/ Venu Rathi	 

Name: Venu Rathi

Title: Chief Financial Officer

 

     

     

    

 

ING CAPITAL LLC,

as Administrative Agent and an Issuing Bank

 

	By:	/s/ Patrick Frisch	 

Name: Patrick Frisch

Title: Managing Director

 

	By:	/s/ Grace Fu	 

Name: Grace Fu

Title: Managing Director

 

     

     

    

 

Schedule I

 

COMMITMENTS

 

	Lender	 	Dollar

                                                                                Commitment
	 	 	Multicurrency

                                                                                Commitment
	 	 	 
	Aggregate

                                   Commitment
	 
	State
    Street Bank and Trust Company	 	N/A	 	$	100,000,000.00	 	 	$	100,000,000.00Exhibit 10.13

 

Execution Version

 

JOINDER AGREEMENT

 

JOINDER AGREEMENT dated as
of February 8, 2022 by MUFG BANK, LTD. (the “Assuming Lender”), in favor of North Haven Private Income Fund
LLC, a Delaware limited liability company (the “Borrower”), and ING Capital LLC, as administrative agent under the
Credit Agreement referred to below (in such capacity, together with its successors in such capacity, the “Administrative Agent”).

 

The Borrower, the Lenders
from time to time party thereto and the Administrative Agent are parties to a Senior Secured Revolving Credit Agreement, dated as of February 1,
2022 (as amended by that certain Amendment No. 1 to Senior Secured Revolving Credit Agreement, dated as of February 4, 2022,
and as further amended, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”).

 

The Borrower has requested
that the Assuming Lender be designated as a Joint Lead Arranger under the Credit Agreement, and each of the Borrower, the Assuming Lender
and the Administrative Agent hereby consents to such designation.

 

Pursuant to Section 2.05(o) 
of the Credit Agreement, the Assuming Lender hereby agrees to (and does hereby) become an “Issuing Bank” under and for all
purposes of the Credit Agreement with a maximum LC Exposure as set forth in Schedule I hereto. Without limiting the foregoing, the Assuming
Lender hereby agrees to be bound by and comply with all of the terms and provisions of the Credit Agreement applicable to it as an “Issuing
Bank” thereunder.

 

Pursuant to Section 2.08(e) of
the Credit Agreement, the Assuming Lender hereby agrees to (and does hereby) become a “Lender” under and for all purposes
of the Credit Agreement with a Commitment as set forth in Schedule II hereto. Without limiting the foregoing, the Assuming Lender hereby
agrees to be bound by and comply with all of the terms and provisions of the Credit Agreement applicable to it as a “Lender”
thereunder.

 

The terms and provisions of
any new Loans issued by the Assuming Lender, and the new Commitment described herein, shall be identical to the terms and provisions of
Loans of the applicable Class issued by, and the Commitments of the applicable Class of, the Lenders immediately prior to the
date hereof.

 

Sections 9.06, 9.09 and 9.10
of the Credit Agreement apply to this Joinder Agreement mutatis mutandis.

 

     

     

    

 

IN WITNESS WHEREOF, the Assuming
Lender has caused this Joinder Agreement to be duly executed and delivered as of the day and year first above written.

 

MUFG BANK, LTD.

 

	By:	/s/ Samuel Azizo	 

Name: Samuel Azizo

Title: Authorized Signatory

 

     

     

    

 

Accepted and agreed:

NORTH HAVEN PRIVATE INCOME FUND LLC

 

	By:	/s/ Venu Rathi	 

Name: Venu Rathi

Title: Chief Financial Officer

 

     

     

    

 

ING CAPITAL LLC,

as Administrative Agent and an Issuing Bank

 

	By:	/s/ Patrick Frisch	 

Name: Patrick Frisch

Title: Managing Director

 

	By:	/s/ Grace Fu	 

Name: Grace Fu

Title: Managing Director

 

     

     

    

 

Schedule I

 

ISSUING BANK EXPOSURES

 

	Issuing
    Bank	 	 	 `	Letter
    of Credit Sublimit
	MUFG
    BANK, LTD.	 	 	$	16,666,666.67

 

     

     

    

 

Schedule II

 

COMMITMENTS

 

	Lender	 	 	Dollar

                                                                                Commitment
	 	Multicurrency

                                                                                Commitment
	 	 	 
	Aggregate

                                   Commitment
	 
	MUFG
    Bank, Ltd.	 	$	200,000,000.00	 	N/A	 	 	$	200,000,000.00Exhibit
10.14

 

 

FIRST
AMENDMENT TO THE EXPENSE SUPPORT AND CONDITIONAL REIMBURSEMENT AGREEMENT

 

This first amendment to the
Expense Support and Conditional Reimbursement Agreement (this “Amendment”) is made this 15th day of March,
2022, by and between North Haven Private Income Fund LLC, a Delaware limited liability company (the “Company”), and
MS Capital Partners Adviser Inc., a Delaware corporation (the “Adviser”).

 

WHEREAS, the Company and the
Adviser are parties to that certain Expense Support and Conditional Reimbursement Agreement, dated as of November 30, 2021 and effective
as of November 4, 2021 (the “Agreement”); and

 

WHEREAS, in accordance with
Section 4 of the Agreement, the parties desire to amend the Agreement as hereinafter set forth.

 

NOW, THEREFORE, the parties
hereby agree as follows:

 

		1.	Section 2b of the Agreement shall be amended and restated as follows:

 

The amount of the Reimbursement Payment
for any calendar month shall equal the lesser of (i) the Excess Operating Funds in such quarter and (ii) the aggregate amount of all Expense
Payments made by the Adviser on behalf of the Company within three years prior to the last business day of such calendar month that have
not been previously reimbursed by the Company to the Adviser; provided, however, that no such Reimbursement Payment for
any calendar month shall be made to the extent that the Company’s Operating Expense Ratio (as defined below) (after such Reimbursement
Payment is taken into account) at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense
Payment was made to which such Reimbursement Payment relates; provided, further, that the Adviser may waive its right to
receive all or a portion of any Reimbursement Payment in any particular calendar month, in which case such waived amount will remain unreimbursed
Expense Payments reimbursable in future months pursuant to the terms of this Agreement. The “Operating Expense Ratio”
for any calendar month is calculated by dividing all of the Company’s operating costs and expenses incurred, as determined in accordance
with generally accepted accounting principles for investment companies, less organizational and offering expenses, base management and
incentive fees owed to the Adviser, shareholder servicing and/or distribution fees, and interest expense, by the Company’s average
net assets. The Company’s obligation to make a Reimbursement Payment shall automatically become a liability of the Company on the
last business day of the applicable calendar month, except to the extent the Adviser has waived its right to receive such payment for
the applicable month. In connection with any Reimbursement Payment, the Company may deliver a notice substantially in the form of Appendix
A. The Reimbursement Payment for any calendar month shall be paid by the Company to the Adviser in any combination of cash or other
immediately available funds.

 

		2.	All other provisions, terms and conditions contained in the Agreement, as amended, shall remain in full
force and effect.

  

		3.	This Amendment shall be construed in accordance with the laws of the State of New York. For so long as
the Company is regulated as a business development company under the Investment Company Act of 1940, as amended (together with the rules
promulgated thereunder, the “1940 Act”), this Amendment shall also be construed in accordance with the applicable provisions
of the 1940 Act and the Investment Advisers
Act of 1940, as amended (the “Advisers Act”), in such case, to the extent the applicable laws of the State of New York or
any of the provisions herein conflict with the provisions of the 1940 Act or the Advisers Act, the 1940 Act and the Advisers Act shall
control.

  

     

     

    

 

		4.	This Amendment may be executed in counterparts, each of which shall be deemed to be an original copy and
all of which together shall constitute one and the same instrument binding on all parties hereto, notwithstanding that all parties shall
not have signed the same counterpart.

  

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be executed by their duly authorized representatives as of the date first written above.

 

[Remainder of Page Intentionally Blank]

 

    2 

     

    

 

	 	MS
    Capital Partners Adviser Inc.
	 	  
	 	By:	 /s/ Orit Mizrachi
	 	Name: Orit Mizrachi
	 	Title: Executive Director

  

	ACKNOWLEDGED AND AGREED:	 
	 	 
	North
    Haven Private Income Fund LLC	 
	 	 
	By: 	/s/ Orit Mizrachi	 
	Name: Orit Mizrachi	 
	Title: Chief Operating Officer and
    Secretary	 

 

[Signature Page to First Amendment to the Expense Support and Conditional
Reimbursement Agreement]

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