Document:

Bridge Receivables Security Agt dated as of 8/11/05

 Exhibit 10.12 
  

  
 SUNGARD BRIDGE RECEIVABLES FACILITY 
 SECURITY AGREEMENT 
  
 dated as of 
  
 August 11, 2005 
  
 among 
  
 SUNGARD FUNDING II LLC, 
 as Grantor, 
  
 and 
  
 JPMORGAN CHASE BANK, N.A., 
 as Collateral Agent 
  

  
 TABLE OF CONTENTS 

 
 ARTICLE I 
  
 Definitions 
  

			
	 SECTION 1.01. Credit Agreement
	  	1
		
	 SECTION 1.02. Other Defined Terms
	  	1
		
	ARTICLE II	  	 
		
	Security Interests in Personal Property	  	 
		
	 SECTION 2.01. Security Interest
	  	2
		
	 SECTION 2.02. Representations and Warranties
	  	3
		
	 SECTION 2.03. Covenants
	  	4
		
	ARTICLE III	  	 
		
	Remedies	  	 
		
	 SECTION 3.01. Remedies Upon Early Amortization Event or Event Default
	  	5
		
	 SECTION 3.02. Application of Proceeds
	  	8
		
	ARTICLE IV	  	 
		
	Miscellaneous	  	 
		
	 SECTION 4.01. Notices
	  	8
		
	 SECTION 4.02. Waivers; Amendment
	  	8
		
	 SECTION 4.03. Collateral Agent’s Fees and Expenses; Indemnification
	  	9
		
	 SECTION 4.04. Successors and Assigns
	  	10
		
	 SECTION 4.05. Survival of Agreement
	  	10
		
	 SECTION 4.06. Counterparts; Effectiveness; Several Agreement
	  	10
		
	 SECTION 4.07. Severability
	  	10

			
		
	 SECTION 4.08. Right of Set-Off
	  	11
		
	 SECTION 4.09. Governing Law; Jurisdiction; Consent to Service of Process
	  	11
		
	 SECTION 4.10. WAIVER OF JURY TRIAL
	  	12
		
	 SECTION 4.11. Headings
	  	12
		
	 SECTION 4.12. Security Interest Absolute
	  	12
		
	 SECTION 4.13. Termination or Release
	  	12
		
	 SECTION 4.14. Collateral Agent Appointed Attorney-in-Fact
	  	13

  

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 SECURITY AGREEMENT dated as of August 11, 2005 between SUNGARD FUNDING II LLC (“SunGard
Funding II”), as the “Grantor”, and JPMORGAN CHASE BANK, N.A., as Collateral Agent (in such capacity the “Collateral Agent”) for the Secured Parties (as defined below). 
  
 Reference is made to the Bridge Receivables Credit Agreement dated as of
August 11, 2005 (the “Credit Agreement”), among SunGard Funding II, as Borrower, the Conduit Lenders, the Committed Lenders, the Funding Agents and JPMorgan Chase Bank, N.A., as Administrative Agent. The Lenders have agreed to
extend credit to SunGard Funding II subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement.
SunGard Funding II will derive substantial benefits from the extension of credit to it pursuant to the Credit Agreement, and is willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, the
parties hereto agree as follows: 
  
 ARTICLE I 

 
 Definitions 
  
 SECTION 1.01. Credit Agreement. (a) Capitalized terms used in
this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms defined in the New York Uniform Commercial Code (as defined herein) and not defined in this Agreement have the meanings specified therein;
the term “instrument” shall have the meaning specified in Article 9 of the New York Uniform Commercial Code; (b) The rules of construction specified in Article I of the Credit Agreement also apply to this Agreement.

  
 SECTION 1.02. Other Defined Terms. As used in this
Agreement, the following terms have the meanings specified below: 
  
 “Account Debtor” means any Person who is or who may become obligated to the Grantor under, with respect to or on account of any of the Collateral. 
  
 “Agreement” means this Security Agreement. 
  
 “Collateral” has the meaning assigned to such in Section 2.01(a). 
  
 “Collateral Agent” means JPMorgan Chase Bank, N.A., as agent
for the Lenders and the Funding Agents hereunder, or any successor agent under this Agreement (together with its successors and assigns). 
  
 “Credit Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 

 “New York Uniform Commercial Code” means the Uniform Commercial Code as from time to
time in effect in the State of New York. 
  
 “Secured
Obligations” means the “Obligations” defined in the Credit Agreement. 
  
 “Secured Parties” means, collectively, the Administrative Agent, the Lenders and the Funding Agents. 
  
 “Security Interest” has the meaning assigned to such term in Section 2.01(a). 
  
 ARTICLE II 
  
 Security Interests in Personal Property 
  
 SECTION 2.01. Security Interest. (a) As security for the payment
or performance, as the case may be, in full of the Secured Obligations, including the Performance Guarantee, the Grantor hereby assigns and pledges to the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, and
hereby grants to the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, a security interest (the “Security Interest”) in, all right, title or interest in or to any and all of the following assets
and properties now owned or at any time hereafter acquired by the Grantor or in which the Grantor now has or at any time in the future may acquire any right, title or interest (collectively, the “Collateral”): 
  
 (i) the Collections; 
  
 (ii) the Collection Accounts; 
  
 (iii) the Lockboxes; 
  
 (iv) the Lockbox Accounts; 
  
 (v) the Receivables; 
  
 (vi) the Seller Related Security; 
  
 (vii) the SunGard Financing Related Security; 
  
 (viii) the SunGard Funding II Related Security; 

 
 (ix) all books and records pertaining to the Collateral;
and 
  
 (x) to the extent not otherwise included,
all proceeds and products of the foregoing and all collateral security and guarantees given by any Person with respect to the foregoing; 
  

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 (b) The Grantor hereby irrevocably authorizes the Collateral Agent for the benefit of the
Secured Parties at any time and from time to time to file in any relevant jurisdiction any initial financing statements with respect to the Collateral or any part thereof and amendments thereto that (i) indicate the Collateral as all assets of
the Grantor or words of similar effect as being of an equal or lesser scope or with greater detail, and (ii) contain the information required by Article 9 of the Uniform Commercial Code for the filing of any financing statement or amendment,
including (A) whether the Grantor is an organization, the type of organization and any organizational identification number issued to the Grantor and (B) in the case of a financing statement filed as a fixture filing, a sufficient
description of the real property to which such Collateral relates. The Grantor agrees to provide such information to the Collateral Agent promptly upon request. 
  
 (c) The Security Interest is granted as security only and shall not subject the Collateral Agent or any
other Secured Party to, or in any way alter or modify, any obligation or liability of the Grantor with respect to or arising out of the Collateral. 
  
 SECTION 2.02. Representations and Warranties. The Grantor represents and warrants to the Collateral Agent and the Secured Parties that: 

 
 (a) The Grantor has good and valid rights in and title to
the Collateral with respect to which it has purported to grant a Security Interest hereunder and has full power and authority to grant to the Collateral Agent the Security Interest in such Collateral pursuant hereto and to execute, deliver and
perform its obligations in accordance with the terms of this Agreement, without the consent or approval of any other Person other than any consent or approval that has been obtained. 
  
 (b) Exhibit A includes the exact legal name of each Grantor, and is correct and complete in all material
aspects as of the Closing Date. The Uniform Commercial Code financing statements or other appropriate filings, recordings or registrations prepared by the Collateral Agent based upon the information provided to the Collateral Agent in Exhibit A for
filing in each governmental, municipal or other office specified in Exhibit A (or specified by notice from the Grantor to the Collateral Agent after the Closing Date in the case of filings, recordings or registrations required by Section 6.10
of the Credit Agreement), are all the filings, recordings and registrations that are necessary to establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the benefit of the Secured Parties) in respect of all
Collateral in which the Security Interest may be perfected by filing under the Uniform Commercial Code, recording or registration in the United States (or any political subdivision thereof) and its territories and possessions, and no further or
subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such 

  

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jurisdiction, except as provided under applicable law with respect to the filing of continuation statements. 
  
 (c) The Security Interest constitutes (i) a legal and
valid security interest in all the Collateral securing the payment and performance of the Secured Obligations and (ii) subject to the filings described in Section 2.02(b), a perfected security interest in all Collateral in which a security
interest may be perfected by filing, recording or registering a financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code. The
Security Interest is and shall be prior to any other Lien on any of the Collateral. 
  
 (d) The Collateral is owned by the Grantor free and clear of any Lien. The Grantor has not filed or consented to the filing of
(i) any financing statement or analogous document under the Uniform Commercial Code or any other applicable laws covering any Collateral or (ii) any assignment in which any Grantor assigns any Collateral or any security agreement or
similar instrument covering any Collateral with any foreign governmental, municipal or other office, which financing statement or analogous document, assignment, security agreement or similar instrument is still in effect. 
  
 SECTION 2.03. Covenants. (a) The Grantor agrees promptly to
notify the Collateral Agent in writing of any change (i) in corporate name of the Grantor, (ii) in the identity or type of organization or corporate structure of the Grantor, or (iii) in the jurisdiction of organization of the
Grantor. 
  
 (b) The Grantor shall, at its own
expense, take any and all commercially reasonable actions necessary to defend title to the Collateral against all Persons and to defend the Security Interest of the Collateral Agent in the Collateral and the priority thereof against any Lien.

  
 (c) Each year, at the time of delivery of
annual financial statements with respect to the preceding fiscal year pursuant to Section 9 of the Performance Undertaking, the Grantor shall deliver to the Collateral Agent a certificate executed by a Responsible Officer of the Grantor
(i) setting forth the information required pursuant to this Section 2.03(c) or confirming that there has been no change in such information since the date of the most recent certificate delivered pursuant to this Section 2.03(c) and
(ii) certifying that all Uniform Commercial Code financing statements (including fixture filings, as applicable) or other appropriate filings recordings or registrations, including all refilings, recordings and registrations, containing a
description of the Collateral have been filed of record in each governmental, municipal or other appropriate office in each jurisdiction to the extent necessary to protect and perfect the Security Interest for a period of not less than
18 months after the date of such certificate (except as noted therein with respect to any continuation statements to be filed within such period). 
  

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 (d) The Grantor agrees, at its own expense, to execute, acknowledge, deliver and cause to
be duly filed all such further instruments and documents and take all such actions as the Collateral Agent may from time to time reasonably request to better assure, preserve, protect and perfect the Security Interest and the rights and remedies
created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of the Security Interest and the filing of any financing statements or other documents in connection
herewith or therewith. If any amount payable under or in connection with any of the Collateral that is in excess of $1,000,000 shall be or become evidenced by any promissory note or other instrument, such note or instrument shall be promptly pledged
and delivered to the Collateral Agent, for the benefit of the Secured Parties, duly endorsed in a manner reasonably satisfactory to the Collateral Agent. 
  
 (e) At its option, the Collateral Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other
encumbrances at any time levied or placed on the Collateral, and may pay for the maintenance and preservation of the Collateral to the extent the Grantor fails to do so as required by the Credit Agreement or this Agreement and within a reasonable
period of time after the Collateral Agent has requested that it do so, and the Grantor agrees to reimburse the Collateral Agent within 10 days after demand for any payment made or any reasonable expense incurred by the Collateral Agent pursuant
to the foregoing authorization. Nothing in this paragraph shall be interpreted as excusing the Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other
promises of the Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein, in the other Transaction Documents. 
  
 (f) [Reserved.] 
  
 (g) The Grantor (rather than the Collateral Agent or any
Secured Party) shall remain liable (as between itself and any relevant counterparty) to observe and perform all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the
Collateral, all in accordance with the terms and conditions thereof, and the Grantor jointly and severally agrees to indemnify and hold harmless the Collateral Agent and the Secured Parties from and against any and all liability for such
performance. 
  
 ARTICLE III 
  
 Remedies 
  
 SECTION 3.01. Remedies Upon Early Amortization Event or Event Default.
Upon the occurrence and during the continuance of an Early Amortization Event or Event of Default, it is agreed that the Collateral Agent shall have the right to 

  

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exercise any and all rights afforded to a secured party with respect to the Secured Obligations under the Uniform Commercial Code or other applicable law and
also may (i) require the Grantor to, and the Grantor agrees that it will at its expense and upon request of the Collateral Agent forthwith, assemble all or part of the Collateral as directed by the Collateral Agent and make it available to the
Collateral Agent at a place and time to be designated by the Collateral Agent that is reasonably convenient to both parties; (ii) occupy any premises owned or, to the extent lawful and permitted, leased by the Grantor where the Collateral or
any part thereof is assembled or located for a reasonable period in order to effectuate its rights and remedies hereunder or under law, without obligation to the Grantor in respect of such occupation; provided that the Collateral Agent shall
provide the Grantor with notice thereof prior to or promptly after such occupancy; (iii) exercise any and all rights and remedies of the Grantor under or in connection with the Collateral, or otherwise in respect of the Collateral;
provided that the Collateral Agent shall provide the Grantor with notice thereof prior to or promptly after such exercise; and (iv) subject to the mandatory requirements of applicable law and the notice requirements described below, sell
or otherwise dispose of all or any part of the Collateral securing the Secured Obligations at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the Collateral Agent
shall deem appropriate. The Collateral Agent shall be authorized at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to Persons who will represent and agree that they are purchasing
the Collateral for their own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or
purchasers thereof the Collateral so sold. Each such purchaser at any sale of Collateral shall hold the property sold absolutely, free from any claim or right on the part of the Grantor, and the Grantor hereby waives (to the extent permitted by law)
all rights of redemption, stay and appraisal which the Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 
  
 The Collateral Agent shall give the Grantor 10 days’ written notice (which the Grantor agrees is reasonable notice
within the meaning of Section 9-611 of the New York Uniform Commercial Code or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of Collateral. Such notice, in the case of a public sale, shall
state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the Collateral, or portion thereof, will
first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may fix and state in the notice (if any) of such sale.
At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The Collateral Agent shall not be obligated
to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Collateral Agent may, without notice or 

  

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publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and
such sale may, without further notice, be made at the time and place to which the same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the
Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the Collateral Agent shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in
case of any such failure, such Collateral may be sold again upon like notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Secured Party may bid for or purchase, free (to the extent permitted
by law) from any right of redemption, stay, valuation or appraisal on the part of the Grantor (all said rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and may make
payment on account thereof by using any claim then due and payable to such Secured Party from the Grantor as a credit against the purchase price, and such Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such
property without further accountability to the Grantor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Collateral Agent shall be free to carry out such sale
pursuant to such agreement and the Grantor shall not be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral Agent shall have entered into such an agreement all Early
Amortization Events or Events of Default shall have been remedied and the Secured Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in
equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to
the provisions of this Section 3.01 shall be deemed to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York Uniform Commercial Code or its equivalent in other jurisdictions. The Grantor
irrevocably makes, constitutes and appoints the Collateral Agent (and all officers, employees or agents designated by the Collateral Agent) as the Grantor’s true and lawful agent (and attorney-in-fact during the continuance of an Early
Amortization Event or Event of Default and after notice to the Grantor of its intent to exercise such rights) for the purpose of (i) making, settling and adjusting claims in respect of Collateral under policies of insurance endorsing the name
of the Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and (ii) making all determinations and decisions with respect thereto. All sums disbursed by the Collateral Agent in
connection with this paragraph, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, within 10 days of demand, by the Grantor to the Collateral Agent and shall be additional
Secured Obligations secured hereby. 
  

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 SECTION 3.02. Application of Proceeds. (a) The Collateral Agent shall apply the proceeds of
any collection or sale of Collateral, including any Collateral consisting of cash, as follows: 
  
 FIRST, to the payment of all costs and expenses incurred by the Collateral Agent in connection with such collection or sale or otherwise
in connection with this Agreement, any other Transaction Document or any of the Secured Obligations including all court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent
hereunder or under any other Transaction Document on behalf of the Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Transaction Document; 
  
 SECOND, to the payment in full of the Secured Obligations
(the amounts so applied to be distributed as set forth in Section 2.03(c) of the Credit Agreement); and 
  
 THIRD, to the Grantor, its successors or assigns, or as a court of competent jurisdiction may otherwise direct. 
  
 The Collateral Agent shall have absolute discretion as to the time of application of any such
proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of
the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the
Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 
  
 ARTICLE IV 
  
 Miscellaneous 
  
 SECTION 4.01.
Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 10.02 of the Credit Agreement. 
  
 SECTION 4.02. Waivers; Amendment. (a) No failure or delay by the
Collateral Agent or any Lender in exercising any right or power hereunder or under any other Transaction Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Collateral Agent, the Lenders hereunder and under the other
Transaction Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Grantor therefrom 

  

 8 

 
shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 4.02, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Early Amortization Event or Event of Default, regardless of
whether the Collateral Agent, the Issuer or any Lender may have had notice or knowledge of such Early Amortization Event or Event of Default at the time. No notice or demand on the Grantor in any case shall entitle the Grantor to any other or
further notice or demand in similar or other circumstances. 
  
 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Agent (with the Consent of the Controlling Party) and the Grantor
with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 10.01 of the Credit Agreement. 
  
 SECTION 4.03. Collateral Agent’s Fees and Expenses; Indemnification. (a) The parties hereto agree that the
Collateral Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided in Section 10.04 of the Credit Agreement. 
  
 (b) Without limitation of its indemnification obligations under the other Transaction Documents, the Grantor agrees to indemnify the Collateral Agent and
the other Indemnitees (as defined in Section 10.05 of the Credit Agreement) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, the execution, delivery or performance of this Agreement or any claim, litigation, investigation
or proceeding relating to any of the foregoing agreement or instrument contemplated hereby, or to the Collateral, whether or not any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to
the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or wilful misconduct of such Indemnitee
or of any Affiliate, director, officer, employee, counsel, agent or attorney-in-fact of such Indemnitee. 
  
 (c) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the Performance Guarantee. The provisions
of this Section 4.03 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Transaction Document, the consummation of the transactions contemplated hereby, the repayment of any of the
Secured Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Transaction Document, or any investigation made by or on behalf of the Collateral Agent or any other Secured Party. All amounts due under
this Section 4.03 shall be payable within 10 days of written demand therefor. 
  

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 SECTION 4.04. Successors and Assigns. Whenever in this Agreement any of the parties hereto is
referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Grantor or the Collateral Agent that are contained in this Agreement shall
bind and inure to the benefit of their respective successors and assigns. 
  
 SECTION 4.05. Survival of Agreement. All covenants, agreements, representations and warranties made hereunder and in any other Transaction Documents and in the certificates or other instruments prepared or
delivered in connection with or pursuant to this Agreement or any other Transaction Document shall be considered to have been relied upon by the Lenders and shall survive the execution and delivery of the Transaction Documents and the making of any
Loans, regardless of any investigation made by any Lender or on its behalf and notwithstanding that the Collateral Agent or any Lender may have had notice or knowledge of any Early Amortization Event or Event of Default or incorrect
representation or warranty at the time any credit is extended under the Credit Agreement, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under any
Transaction Document is outstanding and unpaid and so long as the Commitments of any Lender(s) remain outstanding. 
  
 SECTION 4.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in counterparts, each of which shall constitute an
original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this
Agreement. This Agreement shall become effective as to the Grantor when a counterpart hereof executed on behalf of the Grantor shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the
Collateral Agent, and thereafter shall be binding upon the Grantor and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of the Grantor, the Collateral Agent and the other Secured Parties and
their respective successors and assigns, except that the Grantor shall not have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void)
except as expressly contemplated by this Agreement or the Credit Agreement. 
  
 SECTION 4.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity,
illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other
jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions. 
  

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 SECTION 4.08. Right of Set-Off. In addition to any rights and remedies of the Lenders provided by
Law, upon the occurrence and during the continuance of any Early Amortization Event or Event of Default, each Lender and its Affiliates is authorized at any time and from time to time, without prior notice to the Grantor, any such notice being
waived by the Grantor to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such
Lender, and their Affiliates to or for the credit or the account of the Grantor against any and all obligations owing to such Lender and its Affiliates hereunder, now or hereafter existing, irrespective of whether or not such Lender or Affiliate
shall have made demand under this Agreement and although such obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness. Each Lender agrees promptly to notify the Grantor
and the Collateral Agent after any such set off and application made by such Lender; provided, that the failure to give such notice shall not affect the validity of such setoff and application. The rights of each Lender under this
Section 4.08 are in addition to other rights and remedies (including other rights of setoff) that such Lender may have. 
  
 SECTION 4.09. Governing Law; Jurisdiction; Consent to Service Of Process. (a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PROVISIONS THEREOF OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  
 (b) The Grantor hereby irrevocably and unconditionally submits, for itself
and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York City and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any
action or proceeding arising out of or relating to this Agreement or any other Transaction Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in
respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Transaction Document shall affect any right that the Collateral Agent, or any
Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Transaction Document against the Grantor or its properties in the courts of any jurisdiction. 
  
 (c) The Grantor hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Transaction Document in any court
referred to in 

  

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paragraph (b) of this Section 4.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court. 
  
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 4.01. Nothing in this Agreement or any other Transaction Document will affect the right of
any party to this Agreement to serve process in any other manner permitted by law. 
  
 SECTION 4.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED
TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 4.10. 
  
 SECTION 4.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of
this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
  
 SECTION 4.12. Security Interest Absolute. All rights of the Collateral Agent hereunder, the Security Interest and all obligations of the Grantor
hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other Transaction Document, any agreement with respect to any of the Secured Obligations or any other
agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or any other amendment or waiver of or any consent to any
departure from the Credit Agreement, any other Transaction Document, or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or
departure from any guarantee, securing or guaranteeing all or any of the Secured Obligations or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Grantor in respect of the Secured
Obligations or this Agreement. 
  
 SECTION 4.13. Termination or
Release. (a) This Agreement, the Security Interest and all other security interests granted hereby shall terminate with 

  

 12 

 
respect to all Secured Obligations when all the outstanding Secured Obligations have been indefeasibly paid in full and the Lenders have no further
commitment to lend under the Credit Agreement, 
  
 (b) Upon any
sale or other transfer by the Grantor of any Collateral that is permitted under the Credit Agreement, or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to
Section 10.01 of the Credit Agreement, the security interest in such Collateral shall be automatically released. 
  
 (c) In connection with any termination or release pursuant to paragraph (a) or (b), the Collateral Agent shall execute and deliver to the Grantor, at
the Grantor’s expense, all documents that the Grantor shall reasonably request to evidence such termination or release. Any execution and delivery of documents pursuant to this Section 4.13 shall be without recourse to or warranty by the
Collateral Agent. 
  
 SECTION 4.14. Collateral Agent Appointed
Attorney-in-Fact. The Grantor hereby appoints the Collateral Agent the attorney-in-fact of the Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral Agent
may deem necessary or advisable to accomplish the purposes hereof at any time after and during the continuance of an Early Amortization Event or Event of Default, which appointment is irrevocable and coupled with an interest. Without limiting the
generality of the foregoing, the Collateral Agent shall have the right, upon the occurrence and during the continuance of an Early Amortization Event or Event of Default and notice by the Collateral Agent to the Grantor of its intent to exercise
such rights, with full power of substitution either in the Collateral Agent’s name or in the name of the Grantor (a) to receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences
of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral; (c) to sign the name of the Grantor on any invoice or
bill of lading relating to any of the Collateral; (d) to send verifications of Accounts Receivable to any Account Debtor; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent
jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any
of the Collateral; (g) to notify, or to require the Grantor to notify, Account Debtors to make payment directly to the Collateral Agent; and (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal
with all or any of the Collateral, and to do all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the Collateral for all purposes;
provided that nothing herein contained shall be construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to
present or file any claim or notice, or to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other Secured Parties
shall be accountable only for amounts actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to the Grantor for any act or failure
to act hereunder, except for their own gross negligence or wilful misconduct or that of any of their Affiliates, directors, officers, employees, counsel, agents or attorneys-in-fact. 
  

 13 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first
above written. 
  

			
	 SUNGARD FUNDING II LLC, as Grantor,

		
	 by:
	 	SUNGARD FINANCING LLC, its Member
		
	by	 	/s/    MICHAEL J. RUANE        
	 Name:
	 	Michael J. Ruane
	 Title:
	 	President
	
	JPMORGAN CHASE BANK, N.A., as Collateral Agent,
		
	by	 	/s/    LEO LOUGHEAD        
	 Name:
	 	Leo Loughead
	 Title:
	 	Managing Director

  

 14Bridge Receivables Collection Agent Agt dated as of 8/11/05

 Exhibit 10.13 
  
 SUNGARD BRIDGE RECEIVABLES FACILITY 
 COLLECTION AGENT AGREEMENT 
  
 dated as of August 11, 2005 
  
 by and between

  
 SUNGARD DATA SYSTEMS INC., 
 as Collection Agent, 
  
 and 
  
 SUNGARD FUNDING II LLC 

 SUNGARD BRIDGE RECEIVABLES FACILITY 
 COLLECTION AGENT AGREEMENT 
  
 This Collection Agent Agreement, dated as of August 11, 2005 is by and between SunGard Funding II LLC, a Delaware limited liability company (“SunGard Funding II”), and SunGard Data Systems Inc.,
a Delaware corporation (including its permitted assigns, “SunGard Parent” ) as initial Collection Agent (in such capacity, the “Collection Agent”). Unless defined elsewhere herein, capitalized terms used in this
Agreement but not defined herein shall have the meanings assigned to such in Annex A to the Bridge Receivables Credit Agreement, dated as of August 11, 2005, relating to the SunGard Bridge Receivables Facility, by and among SunGard
Funding II LLC, a Delaware limited liability company, JPMorgan Chase Bank, N.A., as Administrative Agent, the Lenders and Funding Agents parties thereto, as amended or modified from time to time (the “Credit Agreement”). 

 
 PRELIMINARY STATEMENTS 
  
 1. Certain Subsidiaries of SunGard Data Systems Inc. (such Subsidiaries, the
“Sellers”) will from time to time convey Receivables to SunGard Financing LLC (“SunGard Financing”), as purchaser under the First Step Agreement. 
  
 2. SunGard Financing, as transferor, will from time to time convey such Receivables to SunGard Funding II, as transferee,
under the Second Step Agreement. 
  
 3. SunGard Funding II desires
to appoint SunGard Parent as the initial Collection Agent with respect to the Receivables, and SunGard Parent is willing to accept such appointment. 
  
 ARTICLE I 
 ADMINISTRATION AND COLLECTION

  
 Section 1.1 Designation of Collection Agent; Removal
and Replacement. 
  
 (a) Appointment as Collection
Agent. The servicing, administration and collection of the Receivables shall be conducted by such Person (the “Collection Agent”) so designated from time to time in accordance with this Agreement, subject to clause (d) of
this Section. SunGard Parent is hereby appointed as, and will perform the duties and obligations of, the Collection Agent pursuant to the terms of this Agreement. 
  
 (b) Delegation. SunGard Parent shall not delegate any of its duties or responsibilities as Collection Agent to any
Person other than (i) the applicable Seller, (ii) a Person selected by SunGard Funding II, and (iii) with respect to Charged-Off Receivables, outside collection agencies in accordance with its customary practices and the SunGard
Financial Policy. 

 (c) Primarily Responsible. Notwithstanding the foregoing subsection (b), but subject to the
following subsection (d), (i) SunGard Parent shall be and remain primarily liable to SunGard Funding II for the full and prompt performance of all duties and responsibilities of the Collection Agent hereunder and (ii) SunGard Funding II
shall be entitled to deal exclusively with SunGard Parent in matters relating to the discharge by the Collection Agent of its duties and responsibilities hereunder, but shall also be entitled to deal directly with any Person to whom duties are
delegated under clause (b). SunGard Funding II shall not be required to give notice, demand or other communication to any Person other than SunGard Parent in order for communication to the Collection Agent and its sub-servicer or other delegate with
respect thereto to be accomplished. SunGard Parent, at all times that it is the Collection Agent, shall be responsible for providing any sub-servicer or other delegate of the Collection Agent with any notice given to the Collection Agent under this
Agreement. 
  
 (d) Removal and Replacement; Termination.
Upon the occurrence of a Collection Agent Default, SunGard Funding II shall have the right to remove and replace SunGard Parent as Collection Agent. SunGard Parent will cooperate fully in transferring the books, records and functions of the
Collection Agent to any successor Collection Agent. This Agreement will terminate on the date when all Obligations under the Transaction Documents are paid in full. 
  
 Section 1.2 Duties of Collection Agent. 
  
 (a) The Collection Agent shall take or cause to be taken all such actions as may be necessary or advisable to collect,
administer and service each Receivable from time to time, all in accordance with all the terms and provisions of this Agreement, applicable Law, rules and regulations, applicable customary and usual industry standards reflecting prudent management
of similar assets, and in accordance with the SunGard Financial Policy, but without regard to any relationship the Collection Agent may have with any Obligor or any other Person who is a party to the Loan Documents. In the enforcement or collection
of any such amount, the Collection Agent shall be entitled to sue thereon (1) in its own name or (2) if, but only if, SunGard Funding II consents in writing (which consent shall not be unreasonably withheld), as agent for SunGard Funding
II subject, in either case, to the consent of the Controlling Party. In no event shall the Collection Agent be entitled to take any action which would make SunGard Funding II a party to any litigation without the express prior written consent of
SunGard Funding II and the Controlling Party. 
  
 (b) The
Collection Agent will instruct all Obligors to pay all Collections directly to a Lockbox, Lockbox Account or Collection Account and will cause each Lockbox Bank to remit amounts in each Lockbox into the Collection Account daily. SunGard Parent will
cause all Collections in each Lockbox Account to be remitted daily to the applicable Lockbox Account, and will cause all Collections in each Lockbox Account to be reimitted daily to the Collection Account. The Collection Agent shall maintain in
effect at all times a Control Agreement with each bank party to a Lockbox, Lockbox Account or Collection Account. In the case of any remittances received in any Lockbox, Lockbox Account or Collection Account that shall have been identified, to the
satisfaction of the Collection Agent, to not constitute Collections or other proceeds of the Receivables, the Related Security or related Collections, the Collection Agent shall promptly remit such items to the Person identified to it as being the
owner 
  

 2 

 of such remittances. From and after any Early Amortization Date, SunGard Funding II may request that the Collection
Agent, and the Collection Agent thereupon promptly shall, instruct all Obligors with respect to the Receivables, to remit all payments thereon to a new depositary account specified by SunGard Funding II and, at all times thereafter, the Collection
Agent shall not deposit or otherwise credit any funds to the Collection Account, but rather to such new depositary account. If any payments relating to Receivables are remitted directly SunGard Parent, SunGard Parent will remit (or will cause all
such payments to be remitted) directly to a Collection Bank and deposited into a Collection Account within two (2) Business Days following receipt thereof, and, at all times prior to such remittance, such SunGard Parent will hold such payments
in trust for the exclusive benefit of SunGard Funding II. 
  
 (c)
The Collection Agent may, in accordance with the SunGard Financial Policy, extend the maturity of any Receivable or adjust the Outstanding Balance of any Receivable as the Collection Agent determines to be appropriate to maximize Collections
thereof; provided, however, that such extension or adjustment shall not alter the status of such Receivable as a Delinquent Receivable, Defaulted Receivables or Charged-Off Receivable or limit the rights of SunGard Funding II under
this Agreement or any other Loan Document. 
  
 (d) The Collection
Agent shall hold in trust for SunGard Funding II all Records that (i) evidence or relate to the Receivables, the related Contracts and Related Security or (ii) are otherwise necessary or desirable to collect the Receivables and shall, as
soon as practicable upon demand of SunGard Funding II, make available to SunGard Funding II all such Records, at a place selected by SunGard Funding II. 
  
 (e) The Collection Agent will ensure that the Lockboxes, the Lockbox Accounts and the Collection Account will be free and clear of, and defend the
Lockboxes, Lockbox Account and the Collection Account against, any writ, order, stay, judgment, warrant of attachment or attachment or Lien (other than a Lien under the Transaction Documents). 
  
 Section 1.3 Application of Payments. Any payment by an Obligor in
respect of any receivable or other obligation owed by it to a Seller shall, except as otherwise specified by such Obligor or otherwise required by contract or Law and unless otherwise instructed by SunGard Funding II, be applied as a Collection of
any Receivable of such Obligor (starting with the oldest such Receivable) to the extent of any amounts then due and payable thereunder before being applied to any other receivable or other obligation of such Obligor. 
  
 Section 1.4 Responsibilities of Collection Agent. Anything herein
to the contrary notwithstanding, the exercise by SunGard Funding II of its rights hereunder shall not release the Collection Agent from any of its duties or obligations with respect to any Receivables or under the related Contracts. SunGard Funding
II shall have no obligation or liability with respect to any Receivables or related Contracts, nor shall any of them be obligated to perform the obligations of the Collection Agent. For the benefit of each other party to the Transaction Documents,
the Collection Agent will be bound by the obligations of the “Collection Agent” as used in each other Transaction Document relating to the SunGard Bridge Receivables Facility. 
  

 3 

 Section 1.5 Reports. 
  
 (a) The Collection Agent shall prepare on behalf of and forward to the SunGard Funding II a completed Monthly Report
substantially in the form of Exhibit J to the Credit Agreement with respect to each Monthly Period, not later than the Determination Date following the end of such Monthly Period, and deliver copies of it to SunGard Funding II, and to the
Administrative Agent for distribution to the Lenders and Funding Agents. Such Monthly Report shall include a copy of the magnetic tape, in the form of an electronic database or spreadsheet file, using database or spreadsheet software that is readily
available to the Administrative Agent, setting forth, as to each Receivable, Seller Related Security, Asset and/or SunGard Financing Related Security, the information required on Exhibit J to the Credit Agreement. 
  
 (b) Promptly upon receipt thereof, the Collection Agent shall deliver to the
Administrative Agent and the Lenders copies of all schedules, financial statements or other similar reports delivered to or by a Seller, the Collection Agent, SunGard Funding II, the Borrower or the Administrative Agent pursuant to the terms of any
of the Transaction Documents, including all reports provided to either the Administrative Agent or any Lender pursuant to the Credit Agreement, (B) promptly upon request, such other data as the Administrative Agent may reasonably request
relating to the Transaction or to a Seller’s, the Collection Agent’s, the SunGard Funding II’s or the Borrower’s ability to perform its obligations under the Transaction Documents and (C) all information required to be
furnished to the Administrative Agent or the Lenders, as the case may be. 
  
 Section 1.6 Servicing Fees. In consideration of SunGard Parent’s agreement to act as Collection Agent hereunder, SunGard Funding II agrees that, so long as SunGard Parent shall continue to perform as
Collection Agent hereunder, SunGard Funding II shall pay over to SunGard Parent a fee (the “Servicing Fee”) on each date specified in (and from funds available pursuant to) Section 2.03(c)(i) of the Credit Agreement, in arrears
since the prior date of payment, equal to 0.50% per annum of the average aggregate Net Receivables Balance during such period, as compensation for its servicing activities. 
  
 Section 1.7 Protection of Secured Parties’ Rights and Collectibility of Receivables. The Collection Agent
will take no action, nor omit to take any action, which could reasonably be expected to (a) materially adversely impair the rights, remedies or interests of SunGard Funding II, the Administrative Agent or the Lenders under the Transaction
Documents in respect of the Receivables and the other Collateral or (b) materially impair the collectibility of the Receivables. 
  
 Section 1.8 Performance and Compliance with Contracts and Receivables. The Collection Agent will, at its own expense, timely and fully perform
and comply with the material provisions, covenants and other promises required to be observed by it under the Contracts and the Receivables. 
  
 Section 1.9 Payment of Taxes. The Collection Agent will pay or cause to be paid all Taxes that are shown to be due and payable on any tax
returns which are required to be filed or on any assessments that may be made against the Collection Agent or any of its properties and all other taxes, fees or other charges that may be imposed on the initial Collection Agent or any of its
properties by any Governmental Authority (other than those the amount or 
  

 4 

 validity of which are contested in good faith by appropriate proceedings and with respect to which reserves required to
conform with GAAP have been provided on the consolidated books of the Collection Agent). 
  
 Section 1.10 Notices. The Collection Agent shall give notice to the Indenture Trustee, promptly (and in no event later than five (5) Business Days) after becoming aware of the occurrence of any
Collection Agent Default, Early Amortization Event, Event of Default or a breach of a representation or warranty related to the eligibility of any Receivable in any material. 
  
 Section 1.11 Insurance. The Collection Agent shall maintain with financially sound and reputable insurance
companies, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts (after giving effect to any
self-insurance reasonable and customary for similarly situated Persons engaged in the same or similar businesses as the Performance Guarantor and its Subsidiaries) as are customarily carried under similar circumstances by such other Persons.

  
 ARTICLE II 
 INDEMNIFICATION 
  
 Section 2.1 Indemnities by the Collection Agent. (a) Without limiting any other rights that SunGard Funding II may have hereunder or
under applicable Law, the Collection Agent hereby agrees to indemnify (and pay upon demand), protect and hold harmless SunGard Funding II and its respective assigns, and their officers, directors, agents and employees (each an “Indemnified
Party”) from and against any and all actions, suits, judgments, demands, damages, losses, claims, taxes, liabilities (including penalties), costs, expenses and for all other amounts payable, including reasonable attorneys’ fees and
disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”) awarded against, incurred by arising out of or related to any of them arising out of the Collection Agent’s activities as Collection
Agent hereunder excluding, however, in all of the foregoing instances: 
  
 (i) Indemnified Amounts to the extent a final judgment of a court of competent jurisdiction holds that such Indemnified Amounts resulted from gross negligence or willful misconduct on the part of the Indemnified Party
seeking indemnification; or 
  
 (ii) Indemnified
Amounts to the extent the same includes losses in respect of Receivables that are uncollectible on account of the insolvency, bankruptcy or lack of creditworthiness of the related Obligor. 
  
 (b) Without limiting the generality of the foregoing indemnification, the
Collection Agent shall indemnify the Indemnified Parties for Indemnified Amounts (including, without limitation, losses in respect of uncollectible Receivables, regardless of whether reimbursement therefor would constitute recourse to the Collection
Agent) relating to or resulting from: 
  
 (i) the
failure by the Collection Agent to comply with any applicable Law, rule or regulation with respect to any Receivable or Contract related thereto; 
  

 5 

 (ii) any failure of the Collection Agent to perform its duties, covenants or other
obligations in accordance with the provisions of this Agreement or any other Transaction Document or the breach of any of its representations and/or warranties hereunder or under any other Transaction Document (including, without limitation, the
failure of any information or report delivered to a party to the Transaction Documents to be true, complete and correct when made or deemed to have been made); 
  

(iii) the commingling of Collections of Receivables at any time with other funds or the failure to deposit amounts into the appropriate
account pursuant to the Transaction Documents; 
  
 (iv) the omission or action, or allegation thereof, by the Borrower in connection with any registration or non-registration of the Notes under applicable securities laws; 
  
 (v) any untrue statement or alleged untrue statement of a material fact contained in the Information
Memorandum or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; 
  
 (vi) the occurrence of a Collection Agent Default, or event
that with the giving of notice, the lapse of time and/or both would constitute a Collection Agent Default; or 
  
 (vii) the violation of any foreign, federal, state or local law, rule or regulation, or any judgment, order or decree applicable to it,
which violation reasonably could result in a Material Adverse Effect, including, without limitation, the violation of any federal or state securities, banking or antitrust laws, rules or regulations. 
  
 Section 2.2 Reimbursement Obligations. Anything herein or in any
Transaction Document to the contrary notwithstanding, SunGard Parent agrees to pay to the Administrative Agent, on demand, any and all charges, fees, costs and expenses that the Administrative Agent may reasonably pay or incur, including, but not
limited to, attorneys’, accountants’ and other third parties’ fees and expenses and any filing fees and expenses, in connection with (i) the negotiation, execution, delivery and preparation of the Transaction Documents and any
document or instruments delivered pursuant hereto or thereto and the transactions contemplated hereby or thereby, (ii) the enforcement, defense or preservation (including defending, monitoring or participating in any litigation or proceeding
(including any bankruptcy or insolvency proceeding)) of any rights against the Collection Agent, any rights under this Agreement or any other Transaction Document to which the Collection Agent is a party or by which it is bound or any rights under
any certificate, document or instrument delivered by the Collection Agent, (ii) any action, proceeding or investigation affecting the Collateral or the rights or obligations of the Administrative Agent under the Transaction Documents as a
result of, related to or arising from the Collection Agent’s management thereof, servicing thereof or collection practices related thereto, including, without limitation, any 
  

 6 

 judgment or settlement entered into affecting the Administrative Agent or the Administrative Agent’s interests,
(iii) any amendment, waiver or other action with respect to, or related to, this Agreement, whether or not executed or completed, (iv) any audit, dispute, disagreement, litigation or preparation for litigation involving this Agreement, any
other Transaction Document, or any document or instrument delivered pursuant hereto or thereto and the transaction contemplated hereby or thereby (including, without limitation, perfection or protection of the Collateral) in each case to the extent
related to or arising from the Collection Agent’s management thereof, servicing thereof or collection practices related thereto or (v) arising in connection with the replacement of the Collection Agent. Such payment or reimbursement shall
be remitted after written demand therefor together with all reasonable out-of-pocket costs, expenses and disbursements, including attorney’s fees and expenses, and other costs, fees and expenses incurred by the Administrative Agent in
connection with the enforcement of its rights hereunder. 
  
 Section 2.3 In the event of any payment by the Administrative Agent, each of the parties hereto agrees to accept the voucher or other evidence of payment provided by the Administrative Agent as prima facie evidence of the propriety
thereof and the liability, if any, described in Section 2.1 or Section 2.2. All payments to be made hereunder or under any other Transaction Document shall be made to the Indemnified Party in lawful currency of the United States of America
in immediately available funds at the notice address for the Administrative Agent as specified in the Credit Agreement on the date when due or as such Indemnified Party shall otherwise direct by written notice to the other parties hereto. Payments
to be made to hereunder shall bear interest at the Default Rate from the date due to the date when paid. 
  
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 
  
 Representations and Warranties of the Collection Agent. The Collection
Agent hereby represents and warrants to SunGard Financing, as to itself, as of the date hereof, and as of the date of each Purchase, that: 
  
 Section 3.1 Corporate Existence and Power. The Collection Agent (a) is duly formed, validly existing and in good standing under the Laws
of the jurisdiction of its organization, (b) has all requisite power and authority to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Transaction Documents to which
it is a party, (c) is duly qualified and in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, (d) is in compliance with all
Laws, orders, writs, injunctions and orders and (e) has all requisite governmental licenses, authorizations, consents and approvals to operate its business as currently conducted; except in each case referred to in clause (c), (d) or (e),
to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 
  
 Section 3.2 Power and Authority; Due Authorization Execution and Delivery. The execution, delivery and performance by the Collection Agent of
each Transaction Document to which it is a party or by which it is bound, and the consummation of the Transactions, is 
  

 7 

 within the Collection Agent’s corporate powers, have been duly authorized by all necessary corporate or other
organizational action, and do not and will not (a) contravene the terms of any of the Collection Agent’s Organization Documents, (b) conflict with or result in any breach, default or contravention of, result in the acceleration of or
require any payment to be made under (i) any Contractual Obligation (including, without limitation, any loan agreement, mortgage or indenture) to which the Collection Agent is a party or by which it is bound or affecting the Collection Agent or
the properties of the Collection Agent or (ii) any material order, injunction, writ or decree of any Governmental Authority or any judicial or arbitral award to which the Collection Agent or its property is subject, (c) violate any
material Law or (d) result in the creation of any lien upon or in respect of any of its properties; except with respect to any conflict, breach or contravention or payment (but not creation of Liens) referred to in clause (b)(i), to the extent
that such conflict, breach, contravention or payment could not reasonably be expected to have a Material Adverse Effect. 
  
 Section 3.3 Governmental Authorization; Other Consents. No material approval, consent, exemption, authorization, or other action by, or notice
to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, the Collection Agent of this Agreement or any other
Transaction Document, or for the consummation of the Transactions, (b) the perfection or maintenance of the Liens created under the Transaction Documents (including the priority thereof) or (c) the exercise by SunGard Funding II of its
rights or remedies under the Transaction Documents, except for (i) the approvals, consents, exemptions, authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect and
(ii) those approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make could not reasonably be expected to have a Material Adverse Effect. 
  
 Section 3.4 Binding Effect. This Agreement has been duly executed
and delivered by the Collection Agent. This Agreement constitutes, a legal, valid and binding obligation of the Collection Agent, enforceable against the Collection Agent in accordance with its terms, except as such enforceability may be limited by
Debtor Relief Laws and by general principles of equity. 
  
 Section 3.5 Litigation. There are no actions, suits, proceedings, claims, disputes or investigations pending or, to the knowledge of the Collection Agent, threatened in writing or contemplated, at law, in equity, in arbitration
or before any Governmental Authority, by or against the Collection Agent or against any of its properties, revenues or subsidiaries that either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

  
 Section 3.6 Compliance with SunGard Financial
Policy. The Collection Agent has complied in all material respects with the SunGard Financial Policy with regard to each Receivable and the related Contract, and has not made any change to such SunGard Financial Policy, except (i) those
changes approved with the prior written consent of the Controlling Party, or (ii) such material changes as to which the Controlling Party has been notified in accordance with Section 5.1(a)(iii) of the Credit Agreement. The
Collection Agent will not extend, amend or otherwise modify the terms of any Receivable or any Contract related thereto other than in accordance with the SunGard Financial Policy. 
  

 8 

 Section 3.7 Early Amortization Events and Potential Early Amortization Events. No Early
Amortization Event or Potential Early Amortization Event has occurred and is continuing. 
  
 Section 3.8 No Collection Agent Default. To the knowledge of the Collection Agent, neither a Collection Agent Default nor an Event of Default has occurred and is continuing. 
  
 Section 3.9 Location of Records, Marked Records. The offices at
which the Collection Agent keeps its records concerning the Receivables, the Lockboxes the Lockbox Accounts, the Collection Account and the Related Collateral are located at the addresses set forth on Schedule B hereto. The records of the Collection
Agent have been marked to indicate the conveyance of the Receivables to SunGard Funding II and the interests of the Administrative Agent for the benefit of the Lenders. 
  
 ARTICLE IV 
 COVENANTS AND AGREEMENTS 
  
 Section 4.1
Compliance With Agreements and Applicable Laws. The Collection Agent shall comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or
property, except if the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 
  
 Section 4.2 Existence. The Collection Agent shall preserve, renew and maintain in full force and effect its legal existence under the
Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.04 or 7.05 of the Senior Credit Agreement and (b) take all reasonable action to maintain all rights, privileges (including its good standing),
permits, licenses and franchises necessary or desirable in the normal conduct of its business, except (i) to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect or (ii) pursuant to a
transaction permitted by Section 7.04 or 7.05 of the Senior Credit Agreement. 
  
 Section 4.3 Compliance Certificate. The Collection Agent shall deliver to the parties to the Transaction Documents, at the time that the delivery of the financial statements is required pursuant to
Section 9(b)(ii) of the Performance Undertaking, a certificate of one (or more) of its officers stating that: 
  
 (a) a review of the performance of the Collection Agent under the Transaction Documents to which it is a party during such period has been made under such
officer’s supervision; and 
  
 (b) to the best of such
officer’s knowledge following reasonable inquiry, no Collection Agent Default, or event or circumstance that with notice and/or the passage of time would constitute a Collection Agent Default, has occurred, or if any such default has occurred,

  

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 specifying the nature thereof and, if the Collection Agent has a right to cure such default, stating in reasonable detail
(including, if applicable, any supporting calculations) the steps, if any, being taken to cure such default or to otherwise comply with the terms of the agreement to which such default relates. 
  
 Section 4.4 Inspection Rights. The Collection Agent shall permit
representatives and independent contractors of SunGard Financing to visit and inspect the properties of the Collection Agent and each Seller, to examine their respective corporate, financial and operating records, and make copies thereof or
abstracts therefrom, and to discuss their respective affairs, finances and accounts with their respective directors, officers, and independent public accountants, all at the reasonable expense of the Sellers and at such reasonable times during
normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Collection Agent; provided that, excluding any such visits and inspections during the continuation of an Amortization Event, SunGard
Financing shall not exercise such rights more often than two (2) times during any calendar year and only one (1) such time shall be at the Seller’s expense. SunGard Financing shall give the Collection Agent and each Seller the
opportunity to participate in any discussions with the independent public accountants of the Collection Agent or such Seller. 
  
 Section 4.5 Financing Statements and Further Assurances. The Collection Agent will cause to be filed all necessary financing statements
or other instruments, and any amendments or continuation statements relating thereto, necessary to be kept and filed in such manner and in such places as may be required by law to preserve and protect fully the interest of the Administrative Agent
in the Collateral. The Collection Agent will file or cause to be filed all Uniform Commercial Code financing statements necessary for perfecting a first priority security interest of the Administrative Agent for the benefit of the Lenders in the
Receivables, Seller Related Security, Assets and/or SunGard Financing Related Security by, or promptly following, the Closing Date. The Collection Agent shall, upon the reasonable request of the Administrative Agent, from time to time, execute,
acknowledge and deliver, or cause to be executed, acknowledged and delivered, within ten days of such request, such amendments hereto and such further instruments and take such further action as may be reasonably necessary to effectuate the
intention, performance and provisions of the Transaction Documents. 
  
 Section 4.6 No Contest. The Collection Agent will not at any time in the future deny that this Agreement or any other Transaction Document to which it is a party constitutes its legal, valid and binding obligation. 

 
 Section 4.7 [Reserved.] 
  
 Section 4.8 Servicing of Receivables. All Receivables, Seller
Related Security, Assets and/or SunGard Financing Related Security will be serviced in compliance with this Agreement and the other Transaction Documents. 
  
 Section 4.9 Due Diligence. If in the Administrative Agent’s reasonable judgment, circumstances so warrant, based on the
performance of the Transaction (and the Administrative Agent notifies the Collection Agent of such circumstances), the Administrative Agent shall have the right, so long as it remains a Controlling Party, to conduct reviews of the 
  

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 Collection Agent’s practices as Collection Agent through reviews of the Receivables, Seller Related Security, Assets
and/or SunGard Financing Related Security and reviews of origination, servicing and collection practices. Such due diligence shall be conducted at the expense of the Administrative Agent and in a reasonable manner convenient to both the Collection
Agent and the Administrative Agent. This due diligence right is in addition to the access provided pursuant to Section 4.4 hereof. 
  
 Section 4.10 Change of Jurisdiction. The Collection Agent will notify the Administrative Agent of any change in the jurisdiction of
organization of SunGard Parent, each Seller, the Collection Agent, the Transferor or the Borrower. 
  
 ARTICLE V 
 MISCELLANEOUS 
  
 (a) Waivers and Amendments. No failure or delay on the part of SunGard Funding II in exercising any power, right or
remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other further exercise thereof or the exercise of any other power, right or remedy. The rights
and remedies herein provided shall be cumulative and nonexclusive of any rights or remedies provided by Law. Any waiver of this Agreement shall be effective only in the specific instance and for the specific purpose for which given. 
  
 (b) No provision of this Agreement may be amended, supplemented, modified or
waived except in writing with the consent of the Collection Agent and SunGard Funding II. None of the parties hereto shall modify, waive or amend, or consent to any modification, waiver or amendment of, any of the terms, provisions or conditions of
the Transaction Documents to which it is a party or by which it is bound without the prior written consent of the Administrative Agent. 
  
 Section 5.2 Bankruptcy Petition. Collection Agent, in its capacity as Collection Agent will not, before the date that is one year and one day
after the payment in full of all Obligations, institute against, or join any other Person in instituting against, SunGard Financing, SunGard Funding II or any creditor of SunGard Financing or SunGard Funding II under any Debtor Relief Law.

  
 Section 5.3 GOVERNING LAW. THIS UNDERTAKING
SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PROVISIONS THEREOF OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

  
 Section 5.5 CONSENT TO JURISDICTION. ANY LEGAL
ACTION OR PROCEEDING ARISING UNDER ANY TRANSACTION DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY TRANSACTION DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN
EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, MAY BE 
  

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 BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN
DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY TO THIS AGREEMENT CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH PARTY TO THIS AGREEMENT IRREVOCABLY
WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT
OF ANY TRANSACTION DOCUMENT OR OTHER DOCUMENT RELATED THERETO. 
  
 Section 5.6 WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY TRANSACTION DOCUMENT OR IN ANY WAY
CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY TRANSACTION DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED
IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART
OR A COPY OF THIS SECTION 4.5 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
  
 Section 5.7 Integration; Binding Effect; Survival of Terms. 
  
 (a) This Agreement and each other Transaction Document contain the final and complete integration of all prior expressions
by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof superseding all prior oral or written understandings. 
  
 (b) This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and permitted assigns (including any trustee in bankruptcy). This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms and shall remain in
full force and effect until terminated in accordance with its terms. 
  
 Section 5.8 Counterparts; Severability; Section References. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to
be an original and all of which when taken together shall constitute one and the same Agreement. Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without 
  

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 invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. Unless otherwise expressly indicated, all references herein to “Article,” “Section,” “Schedule” or “Exhibit” shall mean articles and
sections of, and schedules and exhibits to, this Agreement. 
  
 Section 5.9 Consent to Assignment. The Collection Agent consents to the assignment by SunGard Funding II of its right, title and interest under this Agreement to the Administrative Agent for the benefit of the Lenders. The
Administrative Agent shall be entitled to exercise, without notice to or consent of SunGard Financing, any and all rights of SunGard Funding II under this Agreement from time to time, but shall have not obligations under this agreement or any
liability for any loss, expense, claim or damage incurred by or asserted against SunGard Funding II by reason of act or omissions under this Agreement. 
  
 Section 5.10 Collateral Assignment; Third-Party Beneficiary. Each of the parties hereto hereby acknowledge and agree that all of the right,
title and interest of SunGard Financing in, to and under this Agreement has been transferred to SunGard Funding II LLC and that SunGard Funding II LLC has collaterally assigned to the Administrative Agent (for the benefit of the Lenders) all of its
right, title and interest in, to and under this Agreement. Each reference herein to SunGard Financing shall include any and all of its assigns (including collateral assigns). Each of the parties hereto agrees that the Administrative Agent (for the
benefit of the Lenders) constitutes an express third-party beneficiary with respect to this Agreement and shall be entitled to rely on and enforce all representations, warranties, covenants and agreements contained herein as if made directly to it
(for the benefit of the Lenders) and as if it (for the benefit of the Lenders) were a party hereto. 
  
 [SIGNATURE PAGES FOLLOW] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered by their
duly authorized officers as of the date hereof. 
  

			
	SUNGARD DATA SYSTEMS INC., as Collection Agent
		
	By:	 	 /s/ Andrew P. Bronstein

	Name:	 	Andrew P. Bronstein
	Title:	 	Vice President, Controller and Assistant Secretary
	
	SUNGARD FUNDING II LLC
	
	By: SunGard Financing LLC, its Member
		
	By:	 	 /s/ Michael J. Ruane

	Name:	 	Michael J. Ruane
	Title:	 	President

  

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