Document:

Exhibit 10.2

 

AMENDED AND RESTATED GUARANTY

 

THIS AMENDED AND RESTATED
GUARANTY (such agreement, as amended, supplemented, restated or replaced from time to time, the “Guaranty”), dated
as of May 25, 2022 made by GRANITE POINT MORTGAGE TRUST, INC., a Maryland corporation (“Guarantor”), for the
benefit of CITIBANK, N.A., a national banking association (“Purchaser”).

 

W I T N E S S E T H:

 

WHEREAS, Guarantor
previously entered into the Guaranty Agreement dated as of June 28, 2017 (such agreement, as amended, reaffirmed, supplemented, restated
or replaced prior to the effective date hereof, the “Existing Agreement”) in favor of the Purchaser.

 

WHEREAS, Purchaser
and GP Commercial CB LLC, a Delaware limited liability company (the “Seller”) and GP Commercial CB SL Sub LLC, a Delaware
limited liability company (“Swingline Subsidiary”), are parties to that certain Amended and Restated Master Repurchase
Agreement dated as of the date hereof (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Repurchase
Agreement”);

 

WHEREAS, Guarantor indirectly
owns one hundred percent (100%) of the Capital Stock of Seller and Swingline Subsidiary and Guarantor will derive benefits, directly and
indirectly, from the execution, delivery and performance by Seller and Swingline Subsidiary of the Transaction Documents, and the transactions
contemplated by the Repurchase Agreement and the other Transaction Documents; and

 

WHEREAS, it is a condition
precedent to the Repurchase Agreement and the consummation of the Transaction thereunder that Guarantor execute and deliver this Guaranty
for the benefit of Purchaser.

 

NOW, THEREFORE, for good
and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Guarantor does hereby agree as follows:

 

ARTICLE
I.

Defined Terms

 

(a)              
Unless otherwise defined herein, capitalized terms defined in the Repurchase Agreement and used herein shall have the meanings
given to them in the Repurchase Agreement.

 

“Cash and Cash Equivalents”:
Any of the following: (a) cash, (b) fully federally insured demand deposits, and (c) securities with maturities of thirty (30) days or
less from the date of acquisition issued or fully guaranteed or insured by the United States Government or any agency thereof.

 

     

     

    

 

“CECL Reserves”: With respect
to any Person and as of a particular date, all amounts determined in accordance with GAAP under ASU 2016-13 and recorded on the balance
sheet of such Person and its consolidated Subsidiaries as of such date.

 

“Closing Date”:
May 25, 2022.

 

“CMBS”:
Mortgage pass-through certificates or other securities issued pursuant to a securitization of commercial real estate loans.

 

“Highly Rated CMBS”: CMBS rated
at least “AA” (or any comparable rating) by any Rating Agency.

 

“Interest Expense”:
With respect to any Person in respect of any period of four consecutive fiscal quarters, ended on the last day of any fiscal quarter of
such Person, determined on a consolidated basis without duplication, consolidated interest expense, whether paid or accrued, without deduction
of consolidated interest income, including, without limitation or duplication, or, to the extent not so included, with the addition of:
(i) interest expense associated with any interest rate hedging activity and (ii) the amortization of debt discounts by such Person, in
all cases as reflected in the applicable consolidated financial statements and all as determined in accordance with GAAP.

 

“Rating Agency”:
Any of Standard & Poor’s Ratings Services, Moody’s Investor’s Service, Inc. Morningstar, Inc. or Fitch Ratings,
Inc., or any successors thereto.

 

“Recourse Indebtedness”:
With respect to any Person, on any date of determination, the amount of Indebtedness for which such Person has recourse liability (such
as through a guarantee agreement), exclusive of any such Indebtedness for which such recourse liability is limited to obligations relating
to or under agreements containing customary recourse carve-outs.

 

“Target Investments”:
Any of the following: (i) whole mortgage loans, (ii) senior pari passu “A notes” or participations in whole mortgage loans,
(iii) mezzanine loans, (iv) preferred equity investments, (v) subordinated mortgage interests (including “B notes” and junior
participations in whole mortgage loans, and (vi) real estate securities (including commercial mortgage backed securities and collateralized
loan obligations); provided that the foregoing shall exclude Highly Rated CMBS.

 

“Tangible Net Worth”:
With respect to any Person on any date of determination, (A) the sum of all amounts that would be included under capital or shareholder’s
equity (or any like caption) on a balance sheet of such Person and its consolidated Subsidiaries at such date, minus (B) the sum of (i)
amounts owing to such Person or any such consolidated Subsidiary from any Affiliate thereof, or from officers, employees, partners, members,
directors, shareholders or other Persons similarly affiliated with such Person or any Affiliate thereof, (ii) intangible assets of such
Person and its consolidated Subsidiaries, if any, and (iii) prepaid Taxes and/or expenses, all on or as of such date and all without duplication
as determined in accordance with GAAP.

 

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“Total Assets”:
With respect to any Person, on any date of determination, an amount equal to the aggregate book value of all assets owned by such Person
and the proportionate share of such Person of all assets owned by Affiliates of such Person as consolidated in accordance with GAAP, less
(a) amounts owing to such Person from any Affiliate thereof, or from officers, employees, partners, members, directors, shareholders or
other Persons similarly affiliated with such Person or any Affiliate thereof, (b) intangible assets, and (c) prepaid Taxes and expenses,
all on or as of such date.

 

“Unrestricted Cash”:
With respect to any Person and any date, the amount of unrestricted and unencumbered Cash and Cash Equivalents held by such Person and
its consolidated Subsidiaries.

 

(b)              
The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Guaranty shall refer to this Guaranty as a whole and not to any particular provision of this Guaranty. All accounting terms not specifically
defined herein shall be construed in accordance with generally accepted accounting principles.

 

ARTICLE
II.

NATURE AND SCOPE OF GUARANTY

 

(a)              
Guaranty of Obligations. The Guarantor’s guaranteed obligations (the “Guaranteed Obligations”)
are as follows:

 

(i)                
Guarantor hereby irrevocably and unconditionally guarantees and promises to Purchaser and its successors and assigns, the prompt
and complete payment and performance when due, whether at stated maturity, by acceleration or otherwise, of all of the following: (a)
subject to clause (iii) below, all payment obligations owing by Seller and Swingline Subsidiary to Purchaser under or in connection
with the Repurchase Agreement and any other Transaction Documents (the “Limited Recourse Obligations”); (b) all reasonable
out of pocket court costs, enforcement costs and legal and other expenses (including reasonable attorneys’ fees and expenses) (collectively,
 “Costs”) that are incurred by Purchaser in the enforcement of any obligation of a Guarantor under this Guaranty; and
(c) all actual losses, damages and Costs that are incurred by Purchaser as a direct or indirect consequence of any of the following events:

 

(1)              
any fraud, intentional material misrepresentation, gross negligence, illegal acts or willful misconduct by Seller, Swingline Subsidiary
or Guarantor (collectively, “Obligor(s)”) or any of their respective Affiliates, in connection with the Repurchase
Agreement, the Transaction Documents or any Purchased Asset or Contributed Swingline Loan;

 

(2)              
any Obligor’s or any of its Affiliates’ misapplication or misappropriation of any Income or other amounts received
from any Purchased Asset or Contributed Swingline Loan;

 

(3)              
any Obligor or any of its Affiliates seeks judicial intervention or injunctive or other equitable relief of any kind or asserts
in a

 

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pleading filed in connection with a judicial
proceeding against Purchaser, a defense against the existence of any Event of Default or any remedies pursued by Purchaser due to such
Event of Default which is found by a court of competent jurisdiction in a final, non-appealable ruling to be frivolous or brought in bad
faith;

 

(4)              
any Obligor or any of its Affiliates voluntarily grants, creates, or consents in writing to the grant or creation of, any Lien,
encumbrance or security interest in or on any Purchased Asset, Contributed Swingline Loan or any Collateral, other than, in each case,
liens that are permitted by the Transaction Documents;

 

(5)              
any material breach of any representations and warranties or covenants contained in any Transaction Document by any Obligor relating
solely to (A) environmental laws, (B) any indemnity for costs incurred in connection with the violation of any environmental law, (C)
the correction of any environmental condition or (D) the removal of any hazardous, toxic or harmful substances, materials, wastes, pollutants
or contaminants defined as such in or regulated under any environmental law, in each case to the extent affecting Seller’s, and
Swingline Subsidiary’s or any of their Affiliates’ properties or any of the Purchased Assets or Contributed Swingline Loan;
and

 

(6)              
any material breach of the separateness covenants contained in the Repurchase Agreement.

 

(ii)             
Notwithstanding anything to the contrary herein, the limitation on recourse liability as set forth under Article II(a)(iii)
hereof with respect to the Limited Recourse Obligations shall be of no further force and effect and Guarantor irrevocably and unconditionally
guarantees and promises to pay to Purchaser and its successors and assigns, in lawful money of the United States, in immediately available
funds, the entire Repurchase Price immediately upon the occurrence of:

 

(1)              
with respect to any Obligor: (A) the commencement by such Person as debtor of any case or proceeding under any bankruptcy, insolvency,
reorganization, liquidation, moratorium, dissolution or similar law, or such Person seeking the appointment or election of a receiver,
conservator, trustee, custodian or similar official for such Person or all or substantially all of the property of and assets of such
Person (unless consented to by Purchaser); (B) the commencement of any such case or proceeding against such Person, seeking such an appointment
or election, that arose from any collusive action or assistance of any such Person or its Affiliates or their agents (or, as to which,
any such Person files a petition seeking to join as a party); or (C) the making by such Person of a general assignment for the benefit
of creditors;

 

(2)              
any Obligor, or any Affiliate thereof attempts at any time, in any court proceeding or otherwise, to (A)  recharacterize any
of the Transactions or any of the Transaction Documents as a loan, as a debt or any

 

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financing arrangement between or among
any Obligor and Purchaser, rather than a “securities contract” as that term is defined in Section 741 of Title 11 of the United
States Code, as amended, or (B) assert in writing or in a court proceeding that any of the Transactions is not a “master netting
agreement” as such term is defined in Section 101 of Title 11 of the United States Code, as amended, or a “securities contract”
as that term is defined in Section 741 of Title 11 of the United States Code, as amended; or

 

(3)              
any material breach of the separateness covenants contained in the Repurchase Agreement that results in the substantive consolidation
of Seller or Swingline Subsidiary with any other Person under any federal or state bankruptcy, insolvency, reorganization, liquidation,
dissolution or similar law relating to the protection of creditors.

 

(iii)           
Notwithstanding anything herein to the contrary, solely with respect to the Guaranteed Obligations set forth in clause (i)(a) of
this Article II(a), the maximum aggregate liability of the Guarantor hereunder and under the Transaction Documents with respect to any
Purchased Assets (but not, any Contributed Swingline Loan) shall in no event exceed an amount equal to twenty-five percent (25%) of the
then aggregate Repurchase Price of all Purchased Assets. The Guaranteed Obligations set forth in clause (i)(a) of this Article II(a) with
respect to any Contributed Swingline Loan will be equal to 100% of the Repayment Amount of all Contributed Swingline Loans.

 

(b)              
Nature of Guaranty. This Guaranty is an irrevocable, absolute, continuing guaranty of payment and performance and not a
guaranty of collection. This Guaranty may not be revoked by Guarantor and shall continue to be effective with respect to any Guaranteed
Obligations arising or created after any attempted revocation by Guarantor. This Guaranty may be enforced by Purchaser and any successor,
or permitted assignee (each, an “Assignee”) of Purchaser’s rights and obligations under the Repurchase Agreement,
in proportion to the percentage interest therein owned by such Assignee, and shall not be discharged by the assignment or negotiation
of all or part thereof.

 

(c)              
Satisfaction of Guaranteed Obligations. Guarantor shall satisfy its obligations hereunder without demand, presentment, protest,
notice of protest, notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of the maturity or any
other notice whatsoever, other than any notice to the Seller or Swingline Subsidiary expressly required by the Repurchase Agreement or
any other Transaction Document. The obligations of Guarantor hereunder shall not be reduced, discharged or released because or by reason
of any existing or future offset, claim or defense of Seller or Swingline Subsidiary, or any other party, against Purchaser or against
the payment of the Guaranteed Obligations, other than the payment of the Guaranteed Obligations, whether such offset, claim or defense
arises in connection with such Guaranteed Obligations or otherwise.

 

(d)              
No Duty to Pursue Others. It shall not be necessary for Purchaser (and Guarantor hereby waives any rights which Guarantor
may have to require Purchaser), in order to enforce the obligations of Guarantor hereunder, first to (i) institute suit or exhaust
its remedies against Seller or Swingline Subsidiary or others liable on the Guaranteed Obligations or any

 

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other person, (ii) enforce or exhaust Purchaser’s
rights against any collateral which shall ever have been given to secure the Guaranteed Obligations, (iii) join Seller or Swingline
Subsidiary or any others liable on the Guaranteed Obligations in any action seeking to enforce this Guaranty or (iv) resort to any
other means of obtaining payment of the Guaranteed Obligations. Purchaser shall not be required to mitigate damages or take any other
action to collect or enforce the Guaranteed Obligations.

 

(e)              
Waivers. Guarantor agrees to the provisions of the Transaction Documents, and hereby waives notice of (i) any loans
or advances made by Purchaser to Seller or Swingline Subsidiary or any purchases of the Purchased Assets made by Purchaser from Seller,
(ii) acceptance of this Guaranty, (iii) any amendment or extension of the Repurchase Agreement or of any other Transaction Documents,
(iv) the execution and delivery by Seller, Swingline Subsidiary and Purchaser of any other agreement or of Seller’s or Swingline
Subsidiary’s execution and delivery of any other documents arising under the Transaction Documents or in connection with the Repurchase
Obligations, (v) the occurrence of any breach by Seller or Swingline Subsidiary or an Event of Default under the Transaction Documents,
(vi) Purchaser’s transfer or disposition of the Transaction Documents, or any part thereof, (vii) except to the extent
required under the Transaction Documents, sale or foreclosure (or posting or advertising for sale or foreclosure) of any collateral for
the Guaranteed Obligations, (viii) protest, proof of non-payment or default by Seller or Swingline Subsidiary, (ix) any other
action at any time taken or omitted by Purchaser and (x) except to the extent required under the Transaction Documents, all other
demands and notices of every kind in connection with this Guaranty, the Transaction Documents and any documents or agreements evidencing,
securing or relating to any of the Guaranteed Obligations.

 

(f)               
Payment of Expenses. In the event that Guarantor should breach or fail to timely perform any provisions of this Guaranty,
Guarantor shall, within two (2) Business Days after demand by Purchaser, pay Purchaser all costs and expenses (including, without limitation,
court costs and the reasonable fees and expenses of counsel) actually incurred by Purchaser in the enforcement hereof or the preservation
of Purchaser’s rights hereunder. The covenant contained in this Article II(f) shall survive the payment and performance of
the Guaranteed Obligations.

 

(g)              
Effect of Bankruptcy. In the event that, pursuant to any insolvency, bankruptcy, reorganization, receivership or other debtor
relief law, or any judgment, order or decision thereunder, Purchaser must rescind or restore any payment, or any part thereof, received
by Purchaser in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this
Guaranty given to Guarantor by Purchaser shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention
of Seller, Swingline Subsidiary and Guarantor that Guarantor’s obligations hereunder shall not be discharged except by Seller’s,
Swingline Subsidiary’s or Guarantor’s payment and performance of the Guaranteed Obligations which is not so rescinded or Guarantor’s
performance of such obligations and then only to the extent of such performance.

 

(h)              
Deferral of Subrogation, Reimbursement and Contribution. Notwithstanding anything to the contrary contained in this Guaranty,
Guarantor hereby unconditionally and irrevocably defers any and all rights it may now or hereafter have under any

 

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agreement, at law or in equity (including, without
limitation, any law subrogating Guarantor to the rights of Purchaser), to assert any claim against or seek contribution, indemnification
or any other form of reimbursement from Seller, Swingline Subsidiary or any other party liable to Seller, Swingline Subsidiary or Purchaser
for payment of any or all of the Guaranteed Obligations for any payment made by Guarantor under or in connection with this Guaranty until
payment in full of the Repurchase Obligations and termination of the Repurchase Agreement. Guarantor hereby subordinates all of its subrogation
rights against Seller or Swingline Subsidiary arising from payments made under this Guaranty to the full payment of the Guaranteed Obligations
due Purchaser for a period of ninety-one (91) days following the final payment of the last of all of the Repurchase Obligations and termination
of the Repurchase Agreement. If any amount shall be paid to Guarantor on account of such subrogation rights at any time when all of the
Guaranteed Obligations shall not have been paid in full, such amount shall be held by Guarantor in trust for Purchaser, segregated from
other funds of Guarantor, and shall, forthwith upon receipt by Guarantor, be turned over to Purchaser in the form received by Guarantor
(duly indorsed by Guarantor to Purchaser, if required), to be applied against the Guaranteed Obligations, whether matured or unmatured,
in such order as Purchaser may determine.

 

(i)                
Taxes. In addition to and notwithstanding anything herein to the contrary, each Guarantor, to the extent not paid by Seller
or Swingline Subsidiary, shall pay additional amounts to, and indemnify Purchaser with respect to, Covered Taxes (including additional
amounts with respect thereto) and Other Taxes, and the full amount of any Covered Taxes imposed on amounts payable under this Guaranty
to the same extent as the Seller or Swingline Subsidiary would have paid such additional amounts and indemnified Purchaser with respect
to such Taxes under Article 5(k) of the Repurchase Agreement as if such Guarantor were the Seller or Swingline Subsidiary under the Repurchase
Agreement. Each provision of Article 5(k) of the Repurchase Agreement is incorporated by reference herein as applicable.

 

(j)                
Seller. The term “Seller” as used herein shall include any new or successor corporation, association, partnership
(general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale,
transfer, devise, gift or bequest of Seller or any interest in Seller.

 

(k)              
Swingline Subsidiary. The term “Swingline Subsidiary” as used herein shall include any new or successor corporation,
association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger,
reorganization, sale, transfer, devise, gift or bequest of Swingline Subsidiary or any interest in Swingline Subsidiary.

 

ARTICLE
III.

EVENTS AND CIRCUMSTANCES NOT REDUCING

OR DISCHARGING GUARANTOR’S OBLIGATIONS

 

Guarantor hereby consents and
agrees to each of the following, and agrees that Guarantor’s obligations under this Guaranty shall not be released, diminished,
impaired, reduced

 

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or adversely affected by any of the following,
except to the extent required by the terms hereof, and waives any common law, equitable, statutory or other rights (including without
limitation, except to the extent required by the terms hereof, rights to notice) which Guarantor might otherwise have as a result of or
in connection with any of the following:

 

(a)              
Modifications. Any renewal, extension, increase, modification, alteration or rearrangement of all or any part of the Repurchase
Agreement, the other Transaction Documents (other than this Guaranty), or any other document, instrument, contract or understanding between
Seller, Swingline Subsidiary and Purchaser, or any other parties, pertaining to the Repurchase Obligations.

 

(b)              
Adjustment. Any adjustment, indulgence, forbearance or compromise that might be granted or given by Purchaser to Seller
and/or Swingline Subsidiary.

 

(c)              
Condition of Seller, Swingline Subsidiary or Guarantor. The insolvency, bankruptcy, arrangement, adjustment, composition,
liquidation, disability, dissolution or lack of power of Seller, Swingline Subsidiary, or Guarantor or any other party at any time liable
for the payment of all or part of the Repurchase Obligations or the Guaranteed Obligations or any dissolution of Seller, Swingline Subsidiary
or Guarantor, or any sale, lease or transfer of any or all of the assets of Seller, Swingline Subsidiary or Guarantor, or any changes
in the shareholders, partners or members of Seller, Swingline Subsidiary or Guarantor; or any reorganization of Seller, Swingline Subsidiary
or Guarantor.

 

(d)              
Invalidity of Guaranteed Obligations. The invalidity, illegality or unenforceability of all or any part of the Guaranteed
Obligations or any document or agreement executed in connection with the Guaranteed Obligations, for any reason whatsoever, including
without limitation the fact that (i) the act of creating the Guaranteed Obligations or any part thereof is ultra  vires,
(ii) the officers or representatives executing the Repurchase Agreement or the other Transaction Documents or otherwise creating
the Repurchase Obligations and Guaranteed Obligations acted in excess of their authority, (iii) the Seller or Swingline Subsidiary,
as applicable, has valid defenses (other than payment of the Guaranteed Obligations), claims or offsets (whether at law, in equity or
by agreement) which render the Guaranteed Obligations wholly or partially uncollectible from Seller or Swingline Subsidiary, (iv) the
creation, performance or repayment of the Guaranteed Obligations (or the execution, delivery and performance of any document or instrument
representing part of the Guaranteed Obligations or executed in connection with the Repurchase Obligations, or given to secure the repayment
of the Guaranteed Obligations) is illegal, uncollectible or unenforceable or (v) the Repurchase Agreement or any of the other Transaction
Documents have been forged or otherwise are irregular or not genuine or authentic, it being agreed that Guarantor shall remain liable
hereon regardless of whether Seller, Swingline Subsidiary or any other person is found not liable on the Guaranteed Obligations or any
part thereof for any reason.

 

(e)              
Release of Obligors. Any full or partial release of the liability of Seller or Swingline Subsidiary on the Repurchase Obligations,
or any part thereof, or of any co-guarantors, or any other person or entity now or hereafter liable, whether directly or indirectly, jointly,
severally, or jointly and severally, to pay, perform, guarantee or assure the payment of the Repurchase Obligations or Guaranteed Obligations,
or any part thereof, it being recognized,

 

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acknowledged and agreed by Guarantor that Guarantor
may be required to pay the Guaranteed Obligations in full without assistance or support of any other party, and Guarantor has not been
induced to enter into this Guaranty on the basis of a contemplation, belief, understanding or agreement, as between Purchaser and Guarantor,
that other parties will be liable to pay or perform the Repurchase Obligations or Guaranteed Obligations, or that Purchaser will look
to other parties to pay or perform the Repurchase Obligations or Guaranteed Obligations.

 

(f)               
Other Collateral. The taking or accepting of any other security, collateral or guaranty, or other assurance of payment,
for all or any part of the Repurchase Obligations or Guaranteed Obligations.

 

(g)              
Release of Collateral. Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including
without limitation negligent, willful, unreasonable or unjustifiable impairment) by any party other than Purchaser of any collateral,
property or security at any time existing in connection with, or assuring or securing payment of, all or any part of the Repurchase Obligations
or Guaranteed Obligations.

 

(h)              
Care and Diligence. Except to the extent the same shall result from the bad faith, gross negligence, willful misconduct,
illegal acts or fraud of Purchaser or its Affiliates, the failure of Purchaser or any other party to exercise diligence or reasonable
care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of such collateral, property
or security, including but not limited to any neglect, delay, omission, failure or refusal of Purchaser (i) to take or prosecute
any action for the collection of any of the Repurchase Obligations or Guaranteed Obligations or (ii) to foreclose, or initiate any
action to foreclose, or, once commenced, prosecute to completion any action to foreclose upon any security therefor, or (iii) to
take or prosecute any action in connection with any instrument or agreement evidencing or securing all or any part of the Repurchase Obligations
or Guaranteed Obligations.

 

(i)                
Unenforceability. The fact that any collateral, security, security interest or lien contemplated or intended to be given,
created or granted as security for the repayment of the Repurchase Obligations or Guaranteed Obligations, or any part thereof, shall not
be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized
and agreed by the Guarantor that Guarantor is not entering into this Guaranty in reliance on, or in contemplation of the benefits of,
the validity, enforceability, collectability or value of any of the collateral for the Repurchase Obligations.

 

(j)                
Offset. The liabilities and obligations of the Guarantor to Purchaser or its Affiliates hereunder shall not be reduced,
discharged or released because of or by reason of any existing or future right of offset, claim or defense (other than payment of the
Repurchase Obligations or Guaranteed Obligations) of Seller or Swingline Subsidiary against Purchaser, or any other party, or against
payment of Guaranteed Obligations, whether such right of offset, claim or defense arises in connection with the Repurchase Obligations
or Guaranteed Obligations (or the transactions creating the Repurchase Obligations or Guaranteed Obligations).

 

(k)              
Merger. The reorganization, merger or consolidation of Seller or Swingline Subsidiary into or with any other corporation
or entity.

 

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(l)                
 Preference. Any payment by Seller or Swingline Subsidiary to Purchaser is held to constitute a preference under bankruptcy
laws, or for any reason Purchaser is required to refund such payment or pay such amount to Seller, Swingline Subsidiary or someone else.

 

(m)            
Other Actions Taken or Omitted. Except to the extent the same shall result from the gross negligence, willful misconduct,
illegal acts or fraud of Purchaser, any other action taken or omitted to be taken with respect to the Transaction Documents, the Repurchase
Obligations, the Guaranteed Obligations, or the security and collateral therefor, whether or not such action or omission prejudices Guarantor
or increases the likelihood that Guarantor will be required to pay the Guaranteed Obligations pursuant to the terms hereof, it is the
unambiguous and unequivocal intention of Guarantor that Guarantor shall be obligated to pay the Guaranteed Obligations when due, notwithstanding
any occurrence, circumstance, event, action, or omission whatsoever, whether contemplated or uncontemplated, and whether or not otherwise
or particularly described herein, which obligation shall be deemed satisfied only upon the full and final payment and satisfaction of
the Guaranteed Obligations.

 

ARTICLE
IV.

REPRESENTATIONS AND WARRANTIES

 

To induce Purchaser to enter
into the Transaction Documents, Guarantor represents and warrants to Purchaser as follows:

 

(a)              
Benefit. Guarantor has received, or will receive, indirect benefit from the execution, delivery and performance by Seller
and Swingline Subsidiary of the Transaction Documents, and the transactions contemplated therein.

 

(b)              
Familiarity and Reliance. Guarantor is familiar with, and has independently reviewed books and records regarding, the financial
condition of Seller and of Swingline Subsidiary and is familiar with the value of any and all collateral intended to be pledged as security
for the payment of the Repurchase Obligations or Guaranteed Obligations; however, as between Purchaser and each Guarantor, such Guarantor
is not relying on such financial condition or the collateral as an inducement to enter into this Guaranty and agrees to keep adequately
informed of any facts, events or circumstances that might, in any way, affect such Guarantor’s risks hereunder.

 

(c)              
No Representation by Purchaser. Neither Purchaser nor any other party on Purchaser’s behalf has made any representation
or warranty to Guarantor in order to induce Guarantor to execute this Guaranty.

 

(d)              
Guarantor’s Financial Condition. As of the date hereof, Guarantor is, and after giving effect to this Guaranty and
the contingent obligation evidenced hereby, Guarantor is, and will be, solvent, and has and will have assets which, fairly valued, exceed
its obligations, liabilities (including contingent liabilities fairly estimated) and debts, and has and will have property and assets
sufficient to satisfy and repay its obligations and liabilities, as and when the same become due.

 

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(e)              
 Organization. Guarantor (i) is duly organized, validly existing and in good standing under the laws and regulations of
the jurisdiction of its formation, (ii) is duly licensed, qualified, and in good standing in each jurisdiction where such licensing or
qualification is necessary for the transaction of Guarantor’s business, except where failure to be so licensed or qualified would
not be reasonably expected to have a Material Adverse Effect, (iii) has the power to own its properties and to transact the businesses
in which it is now engaged.

 

(f)               
Authority. Guarantor represents that (A) it is duly authorized to execute and deliver this Guaranty and to perform its obligations
under this Guaranty, and has taken all necessary action to authorize such execution, delivery and performance, and (B) each person signing
this Guaranty on its behalf is duly authorized to do so on its behalf.

 

(g)              
Due Execution. This Guaranty has been duly executed and delivered by Guarantor, for good and valuable consideration.

 

(h)              
Enforceability. This Guaranty is a legal, valid and binding obligation of Guarantor, enforceable against Guarantor in accordance
with its terms subject to bankruptcy, insolvency, and other limitations on creditors’ rights generally and to equitable principles.

 

(i)                
Approvals and Consents. No consent, approval or other action of, or filing by, Guarantor with any Governmental Authority
or any other Person is required to authorize, or is otherwise required in connection with, the execution, delivery and performance of
this Guaranty.

 

(j)                
Licenses and Permits. Guarantor possesses all rights, licenses, permits, and authorizations, governmental or otherwise,
necessary to entitle it to own its properties and to transact the businesses in which it is now engaged.

 

(k)              
Non-Contravention. Neither the execution and delivery of this Guaranty, nor consummation by Guarantor of the transactions
contemplated by this Guaranty, nor compliance by Guarantor with the terms, conditions and provisions of this Guaranty will conflict with
or result in a breach of any of the terms, conditions or provisions of (A) the organizational documents of Guarantor, (B) any agreement
by which Guarantor is bound or to which any assets of Guarantor are subject or constitute a default thereunder, or result thereunder in
the creation or imposition of any Lien upon any of the assets of Guarantor, other than pursuant to the Transaction Documents, to the extent
that such breach would be reasonably likely to have a Material Adverse Effect, (C) any judgment or order, writ, injunction, decree or
demand of any court applicable to Guarantor, to the extent that such breach would be reasonably likely to have Material Adverse Effect,
or (D) any Requirement of Law applicable to Guarantor in any material respect.

 

(l)                
Litigation/Proceedings. As of the date hereof, and except as disclosed in writing to Purchaser prior to the Purchase Date,
date of any Future Funding Advance Draw or the date of any Margin Excess Transaction under the Repurchase Agreement, there is no action,
suit, proceeding, investigation, or arbitration pending or, to the best knowledge of Guarantor, threatened in writing against Guarantor,
or any of its assets that (A) questions or challenges the

 

    11 

     

    

 

validity or enforceability of any of the Transaction
Documents or any action to be taken in connection with the transactions contemplated hereby or thereby or (B) if adversely determined,
would be reasonably likely to have a Material Adverse Effect.

 

(m)            
No Outstanding Judgments. As of the date hereof, and except as disclosed in writing to Purchaser prior to the Purchase Date,
date of any Future Funding Advance Draw or the date of any Margin Excess Transaction under the Repurchase Agreement, there are no judgments
against Guarantor unsatisfied of record or docketed in any court located in the United States of America.

 

(n)              
Compliance with Law. Guarantor is in compliance in all material respects with all Requirements of Law. Guarantor is not
in default with respect to any judgment, order, writ, injunction, decree, rule or regulation of any arbitrator or Governmental Authority.

 

All representations and warranties
made by Guarantor herein shall be true and correct as of the Closing Date, each Purchase Date, the date of any Future Funding Advance
Draw and the date of any Margin Excess Transaction.

 

ARTICLE
V.

COVENANTS OF GUARANTOR

 

Each Guarantor covenants and
agrees with Purchaser that, until payment in full of all Guaranteed Obligations (other than inchoate obligations) and termination of the
Repurchase Agreement:

 

(a)              
Guarantor Notices

 

(i)                
Default or Event of Default. Guarantor shall, as soon as possible but in no event later than two (2) Business Days after
obtaining Knowledge of such event, notify Purchaser of the occurrence of any Default or Event of Default.

 

(ii)             
Other Defaults. Guarantor shall promptly, and in any event within two (2) Business Days after it acquired Knowledge thereof,
notify Purchaser of any default or event of default (or similar event) on the part of Guarantor under any Indebtedness or other material
contractual obligations of Guarantor.

 

(iii)           
Litigation and Judgments. Guarantor shall promptly (and in any event within two (2) Business Days after Knowledge thereof)
notify Purchaser of (1) to the extent such event of default constitutes an Event of Default hereunder, any event of default (beyond applicable
notice and grace periods) on the part of a Guarantor under any Indebtedness; and (2) the commencement or threat of, or judgment in, any
action, suit, arbitration, investigation or other legal or arbitrable proceeding affecting Guarantor or any of its Subsidiaries which
(A) relates to a Purchased Asset or Contributed Swingline Loans, (B) questions or challenges the validity or enforceability of this Guaranty
or any action to be taken in connection with the transactions contemplated hereby, (C) makes a claim against Guarantor in an aggregate
amount greater than the Guarantor Threshold or

 

    12 

     

    

 

(iv) which, individually or in the aggregate,
if adversely determined, would be reasonably likely to have a Material Adverse Effect.

 

(iv)            
Corporate Change. Guarantor shall not change its jurisdiction of organization unless it shall have provided Purchaser not
less than fifteen (15) Business Days prior written notice before the taking of such action.

 

(b)              
Reporting. Guarantor shall deliver (or cause to be delivered) to Purchaser all financial information and certificates with
respect to Guarantor that are required to be delivered pursuant to Article 11(b) of the Repurchase Agreement.

 

(c)              
Preservation of Existence; Licenses. Guarantor shall at all times maintain and preserve its legal existence and all of the
rights, privileges, licenses, permits and franchises necessary for the operation of its business and for its performance under this Guaranty.

 

(d)              
Compliance with Obligations. Guarantor shall at all times comply (i) with its organizational documents, (ii) in all material
respects with any agreements by which it is bound or to which its assets are subject and (iii) any Requirement of Law applicable to it.

 

(e)              
Books of Record and Accounts. Guarantor shall at all times keep proper books, records and accounts in which entries that
are full, true and correct shall be made of its transactions fairly in accordance with GAAP, consistently applied, and set aside on its
books from its earnings for each fiscal year all such proper reserves in accordance with GAAP, consistently applied.

 

(f)               
Taxes and Other Charges. Guarantor shall timely file all income, franchise and other tax returns required to be filed by
it and shall pay and discharge all taxes, levies, assessments and other charges imposed on it, on its income or profits, on any of its
property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge or levy the payment of which
is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained in accordance with
GAAP.

 

(g)              
Due Diligence. Guarantor shall permit Purchaser to conduct continuing due diligence in accordance with Article 26 of the
Repurchase Agreement.

 

(h)              
No Change of Control. Guarantor shall not, without the prior consent of Purchaser, permit or suffer a Change of Control
to occur.

 

(i)                
Intentionally Omitted.

 

(j)                
Limitation on Distributions. After the occurrence and during the continuation of any Event of Default or the breach of any
of the financial covenants set forth in Article V(l) below, Guarantor shall not make any payment on account of, or set apart assets
for, a sinking or other analogous fund for the purchase, redemption, defeasance, retirement or other acquisition of any equity or partnership
interest of Guarantor (each, a “Distribution”), whether now or hereafter outstanding, or make any other distribution
in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Guarantor. Notwithstanding the

 

    13 

     

    

 

foregoing, Guarantor may make Distributions to
its direct or indirect owners during any period as necessary for Guarantor to maintain its REIT status.

 

(k)              
Voluntary or Collusive Filing. Guarantor shall not voluntarily file a case, or join or collude with any Person in the filing
of an involuntary case, in respect of Seller and Swingline Subsidiary under the Bankruptcy Code.

 

(l)       Financial
Covenants. Guarantor shall not, with respect to itself and its consolidated Subsidiaries, directly or indirectly, permit any of the
following to be breached, as determined quarterly on a consolidated basis in conformity with GAAP, as adjusted pursuant to the last sentence
of this Article V(l):

 

(i)                
Unrestricted Cash.  Guarantor shall not, with respect to itself and its consolidated Subsidiaries, directly or indirectly,
permit its Unrestricted Cash to be less than the greater of: (i) Thirty Million and No/100 Dollars ($30,000,000.00), and (ii) five percent
(5.0%) of Guarantor’s Recourse Indebtedness.

 

(ii)             
Minimum Tangible Net Worth.  Guarantor shall not, with respect to itself and its consolidated Subsidiaries, directly
or indirectly, permit its Tangible Net Worth to be less than the sum of (x) seventy-five percent (75%) of the Tangible Net Worth as of
the Closing Date, plus (y) seventy-five percent (75%) of the aggregate net cash proceeds of any equity issuances made by Guarantor after
the Closing Date (net of underwriting discounts and commissions and other out-of-pocket costs and expenses incurred by Guarantor and its
Affiliates in connection with such equity issuance).

 

(iii)           
Total Debt to Total Assets Ratio. Guarantor shall not, with respect to itself and its Subsidiaries, directly or indirectly,
permit the ratio, expressed as a percentage, (i) the numerator of which shall equal the Indebtedness of Guarantor and its consolidated
Subsidiaries associated with its Target Investments (net of restricted cash associated with any consolidated variable interest entities)
and (ii) the denominator of which shall equal the Total Assets of Guarantor and its consolidated Subsidiaries associated with its Target
Investments, to at any time be greater than seventy-seven and one half percent (77.5%); provided, that notwithstanding the foregoing,
Guarantor and its consolidated Subsidiaries may from time to time acquire Highly Rated CMBS and enter into secured Indebtedness in connection
therewith pursuant to which the ratio, expressed as a percentage, (i) the numerator of which equals the Indebtedness of Guarantor and
its consolidated Subsidiaries associated with its Highly Rated CMBS (net of restricted cash associated with any consolidated variable
interest entities) and (ii) the denominator of which equals the Total Assets of Guarantor and its consolidated Subsidiaries associated
with its Highly Rated CMBS exceeds seventy-seven and one half percent (77.5%) but is not greater than ninety percent (90.00%), subject
to the condition that at any such time, Guarantor shall not, with respect to itself and its Subsidiaries, directly or indirectly, permit
the ratio, expressed as a percentage, (i) the numerator of which shall equal the Indebtedness of Guarantor and its consolidated Subsidiaries
and (ii) the denominator of which shall equal the Total Assets of Guarantor and its consolidated Subsidiaries to be greater than eighty
percent (80.00%).

 

    14 

     

    

 

(iv)            
 Minimum Interest Expense Coverage Ratio. Guarantor shall not, with respect to itself and its consolidated Subsidiaries,
directly or indirectly, permit the ratio of (i) all amounts set forth on an income statement of Guarantor and its consolidated Subsidiaries
prepared in accordance with GAAP for interest income for the period of four (4) consecutive fiscal quarters ended on or most recently
prior to such date of determination to (ii) the Interest Expense of Guarantor and its consolidated Subsidiaries for such period, to be
less than 1.50 to 1.00.

 

Notwithstanding anything to
the contrary herein, all calculations of the financial covenants in this Article V(l) shall be adjusted to remove the impact of (i) CECL
Reserves and (ii) consolidating any variable interest entities under the requirements of Accounting Standards Codification ("ASC")
Section 810 and/or transfers of financial assets accounted for as secured borrowings under ASC Section 860, as both of such ASC sections
are amended, modified and/or supplemented from time to time.

 

(m)       Non-Assignability.
Guarantor may not assign any of its rights or obligations under this Guaranty or any other Transaction Document without the prior written
consent of Purchaser and any attempt by Guarantor to assign any of its rights or obligations under this Guaranty or the other Transaction
Documents without the prior written consent of Purchaser shall be null and void.

 

ARTICLE
VI.

SET-OFF

 

In addition to any rights now
or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights, Guarantor hereby grants to Purchaser
a right, following the occurrence and during the continuance of an Event of Default, to set-off, without notice to Guarantor, any sum
or obligation whether or not arising under this Guaranty and irrespective of the currency, place of payment or booking office of the sum
or obligation owed by Guarantor to Purchaser or any Affiliate of Purchaser against (i) any sum or obligation whether or not arising under
this Guaranty and irrespective of the currency, place of payment or booking office of the sum or obligation owed by Purchaser or its Affiliates
to Guarantor, (ii) any and all deposits (general or specified), monies, credits, securities, collateral or other property of Guarantor
and the proceeds therefrom, now or hereafter held or received for the account of Guarantor (whether for safekeeping, custody, pledge,
transmission, collection, or otherwise) by Purchaser or its Affiliates or any entity under the control of Purchaser or its Affiliates
and its respective successors and assigns (including, without limitation, branches and agencies of Purchaser, wherever located).

 

Purchaser and its Affiliates
are hereby authorized at any time and from time to time upon the occurrence and during the continuance of an Event of Default, without
notice to Guarantor, to set-off, appropriate, apply and enforce such right of set-off against any and all items hereinabove referred to
against any amounts owing to Purchaser or its Affiliates by Guarantor under the Transaction Documents or this Guaranty, irrespective of
whether Purchaser or its Affiliates shall have made any demand hereunder and although such amounts, or any of them, shall be contingent
or unmatured and regardless of any other collateral securing such

 

    15 

     

    

 

amounts. If a sum or obligation is unascertained,
Purchaser may in good faith estimate that obligation and set-off in respect of the estimate, subject to the relevant party accounting
to the other when the obligation is ascertained. Nothing in this Article VI shall be effective to create a charge or other security interest.
This Article VI shall be without prejudice and in addition to any right of set-off, combination of accounts, lien or other rights to which
any party is at any time otherwise entitled (whether by operation of law, contract or otherwise).

 

ANY AND ALL RIGHTS TO REQUIRE
PURCHASER OR ITS AFFILIATES TO EXERCISE THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL THAT SECURE THE AMOUNTS OWING TO
PURCHASER OR ITS AFFILIATES BY GUARANTOR UNDER THIS GUARANTY, PRIOR TO EXERCISING THEIR RIGHT OF SET-OFF WITH RESPECT TO SUCH MONIES,
SECURITIES, COLLATERAL, DEPOSITS, CREDITS OR OTHER PROPERTY OF GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED BY
GUARANTOR.

 

ARTICLE
VII.

MISCELLANEOUS

 

(a)              
Waiver. No failure to exercise, and no delay in exercising, on the part of Purchaser, any right hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of
any other right. The rights of Purchaser hereunder shall be in addition to all other rights provided by law. No modification or waiver
of any provision of this Guaranty, nor consent to departure therefrom, shall be effective unless in writing signed by Purchaser and Guarantor
and no such consent or waiver shall extend beyond the particular case and purpose involved. No notice or demand given in any case shall
constitute a waiver of the right to take other action in the same, similar or other instances without such notice or demand (except to
the extent such a notice or demand is required by the terms hereof).

 

(b)                                      
Notices. Unless otherwise provided in this Guaranty, all notices, consents, approvals and requests required or permitted
hereunder shall be given in writing and shall be effective for all purposes if sent by (i) hand delivery, with proof of delivery,
(ii) certified or registered United States mail, postage prepaid, (iii) expedited prepaid delivery service, either commercial
or United States Postal Service, with proof of delivery, (iv) by telecopier (with answerback acknowledged), provided that
such telecopier notice must also be delivered by one of the means set forth in (i), (ii) or (iii) above, or (v) by electronic mail,
provided that such electronic mail notice must also be delivered by one of the means set forth in (i), (ii) or (iii) above; in
the case of notice to the Purchaser, to the address specified in Exhibit I to the Repurchase Agreement and, in the case of
notice to Guarantor, to the address specified below, or to such other address and person as shall be designated from time to time by Guarantor
or Purchaser, as the case may be, in a written notice to the other in the manner provided for in this Article VII(b). A notice
shall be deemed to have been given: (1) in the case of hand delivery, at the time of delivery, (2) in the case of registered
or certified mail, when delivered or the first attempted delivery on a Business Day, (3) in the case of expedited prepaid delivery
upon the first attempted delivery on a Business Day, (4) in the case of telecopier, upon receipt of answerback

 

    16 

     

    

 

confirmation, provided that such telecopier
notice was also delivered as required in this Article VII or (5) in the case of electronic mail, upon receipt of a verbal
or electronic communication confirming receipt thereof, provided that such electronic mail notice was also delivered as required
in this Article VII. A party receiving a notice that does not comply with the technical requirements for notice under this
Article VII may elect to waive any deficiencies and treat the notice as having been properly given.

 

	 	Purchaser:	Citibank, N.A.
	 	 	390 Greenwich Street
	 	 	New York, New York 10013

	 	 	Attn:	 Lindsay DeChiaro
	 	 	Tel: 	(212) 816-8889
	 	 	Email:	 lindsay.dechiaro@citi.com

 

	 	with copies to:	Dechert LLP
	 	 	Cira Centre
	 	 	2929 Arch Street
	 	 	Philadelphia, PA 19104

	 	 	Attn:	Richard D. Jones
	 	 	Tel:	(215) 994-3844
	 	 	Fax:	(215) 655-2501
	 	 	Email: 	richard.jones@dechert.com

 

	 	Guarantor:	Granite Point Mortgage Trust
	 	 	3 Bryant Park
	 	 	24th Floor
	 	 	New York, NY 10036

	 	 	Attn:	General Counsel
	 	 	Tel:	(212) 364-5500
	 	 	Fax:	(347) 246-4045
	 	 	Email:	legal@gpmreit.com

 

	 	with a copy to:	Reed Smith LLP
	 	 	1001 Brickell Bay Drive
	 	 	Miami, Florida 33131

	 	 	Attn:	Jodi E. Schwimmer, Esq.
	 	 	Tel:	(786) 747-0258
	 	 	Email:	jschwimmer@reedsmith.com

 

(c)              
GOVERNING LAW. THIS GUARANTY SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS,
RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO THE CONFLICT OF LAWS
DOCTRINE APPLIED IN SUCH STATE (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

 

    17 

     

    

 

(d)              
 SUBMISSION TO JURISDICTION; WAIVERS.

 

(i)                
Each of Guarantor and Purchaser irrevocably and unconditionally (A) submits to the non-exclusive jurisdiction of any United States
Federal or New York State court sitting in Manhattan, and any appellate court from any such court, solely for the purpose of any suit,
action or proceeding brought to enforce its obligations under this Guaranty or relating in any way to this Guaranty, the Repurchase Agreement
or the Transaction and (B) waives, to the fullest extent it may effectively do so, any defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court and any right of jurisdiction on account of its place of residence or domicile.

 

(ii)             
To the extent that Guarantor has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit or
proceeding, from jurisdiction of any court or from set off or any legal process (whether service or notice, attachment prior to judgment,
attachment in aid of execution of judgment, execution of judgment or otherwise) with respect to itself or any of its property, Guarantor
hereby irrevocably waives and agrees not to plead or claim such immunity in respect of any action brought to enforce its obligations under
this Guaranty or relating in any way to this Guaranty, the Repurchase Agreement or the Transaction.

 

(iii)           
Guarantor hereby irrevocably waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the
maintenance of such action or proceeding and irrevocably consents to the service of any summons and complaint and any other process by
the mailing of copies of such process to it at its address specified herein. Guarantor hereby 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 Article VII(d) shall affect the right of Purchaser to serve legal process in any other manner permitted
by law or affect the right of Purchaser to bring any action or proceeding against Guarantor or its property in the courts of other jurisdictions,
and nothing in this Article VII(d) shall affect the right of Guarantor to serve legal process in any other manner permitted by
law or affect the right of Guarantor to bring any action or proceeding against Purchaser or its property in the courts of other jurisdictions.

 

(iv)            
EACH OF GUARANTOR AND PURCHASER HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS GUARANTY, ANY OTHER TRANSACTION DOCUMENT OR ANY INSTRUMENT OR DOCUMENT DELIVERED HEREUNDER OR THEREUNDER.

 

(e)              
Invalid Provisions. If any provision of this Guaranty is held to be illegal, invalid, or unenforceable under present or
future laws effective during the term of this Guaranty, such provision shall be fully severable and this Guaranty shall be construed and
enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Guaranty, and the remaining provisions
of this Guaranty shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or
by its severance from this Guaranty,

 

    18 

     

    

 

unless such continued effectiveness of this Guaranty,
as modified, would be contrary to the basic understandings and intentions of the parties as expressed herein.

 

(f)               
Amendments. This Guaranty may be amended only by an instrument in writing executed by Guarantor and Purchaser.

 

(g)              
Parties Bound; Assignment; Joint and Several. This Guaranty shall be binding upon and inure to the benefit of the parties
hereto and their respective successors, assigns and legal representatives; provided, however, that Guarantor may not, without
the prior written consent of Purchaser, assign any of its rights, powers, duties or obligations hereunder. If Guarantor consists of more
than one person or party, the obligations and liabilities of each such person or party shall be joint and several. Purchaser may assign
or transfer its rights under this Guaranty in accordance with the transfer of assignment provisions of the Repurchase Agreement.

 

(h)              
Headings. Section headings are for convenience of reference only and shall in no way affect the interpretation or construction
of this Guaranty.

 

(i)                
Recitals. The recital and introductory paragraphs hereof are a part hereof, form a basis for this Guaranty and shall be
considered prima facie evidence of the facts and documents referred to therein.

 

(j)                
Rights and Remedies. If Guarantor becomes liable for any indebtedness owing by Seller or Swingline Subsidiary to Purchaser,
by endorsement or otherwise, other than under this Guaranty, such liability shall not be in any manner impaired or affected hereby and
the rights of Purchaser hereunder shall be cumulative of any and all other rights that Purchaser may ever have against Guarantor. The
exercise by Purchaser of any right or remedy hereunder or under any other instrument, or at law or in equity, shall not preclude the concurrent
or subsequent exercise of any other right or remedy.

 

(k)              
Entirety. This Guaranty embodies the final, entire agreement of Guarantor and Purchaser with respect to Guarantor’s
guaranty of the Guaranteed Obligations and supersedes any and all prior commitments, agreements, representations, and understandings,
whether written or oral, relating to the subject matter hereof. This Guaranty is intended by Guarantor and Purchaser as a final and complete
expression of the terms of the guaranty, and no course of dealing between Guarantor and Purchaser, no course of performance, no trade
practices, and no evidence of prior, contemporaneous or subsequent oral agreements or discussions or other extrinsic evidence of any nature
shall be used to contradict, vary, supplement or modify any term of this Guaranty. There are no oral agreements between Guarantor and
Purchaser relating to the subject matter hereof.

 

(l)                
Intent. Guarantor intends (i) that this Guaranty constitute a “securities contract” as that term is defined
in Section 741(7)(A)(xi) of the Bankruptcy Code to the extent of damages as measured in accordance with Section 562 of the Bankruptcy
Code and (ii) that this Guaranty constitutes a “master netting agreement” as that term is defined in Section 101(38A)(A) of
the Bankruptcy Code to the extent of damages as measured in accordance with Section 562 of the Bankruptcy Code.

 

    19 

     

    

 

(m)            
 Facilities with Other Lenders. To the extent that Guarantor is obligated under any other repurchase agreement, loan agreement,
warehouse facility, guaranty or similar credit facility involving the financing of commercial real estate loan assets which are similar
to the Purchased Assets (whether now in effect or in effect at any time during the term of this Guaranty) or the Contributed Swingline
Loans to comply with any financial covenant that is comparable to any of the financial covenants set forth in Article V(l) of this
Guaranty, and such comparable financial covenant is more restrictive to Guarantor or otherwise more favorable to the related lender or
buyer thereunder than any financial covenant set forth in Article V(l) of this Guaranty, or is in addition to any financial covenant
set forth in Article V(l) of this Guaranty, then such comparable or additional financial covenant shall, with no further action
required on the part of Guarantor or Purchaser, automatically become a part of in Article V(l) of Guaranty and be incorporated
herein, and Guarantor hereby covenants to maintain compliance with such comparable or additional financial covenant at all times throughout
the remaining term of this Guaranty. In connection herewith, Guarantor agrees to promptly notify Purchaser of the execution of any agreement
or other document that would cause the provisions of this Article VII(m) to become effective. Guarantor further agrees to execute
and deliver any new guaranties, agreements or amendments to this Guaranty necessary to evidence all such new or modified provisions, provided
that the execution of such amendment shall not be a precondition to the effectiveness of such amendment, but shall merely be for the convenience
of the parties hereto and thereto.

 

[SIGNATURE ON NEXT PAGE]

 

    20 

     

    

 

IN WITNESS WHEREOF, the
undersigned executed this Guaranty as of the day first written above.

 

	 	GUARANTOR:
	 	 
	 	GRANITE POINT MORTGAGE TRUST
    INC., a Maryland corporation

 

		By:	/s/ MICHAEL
    KARBER

		Name:	Michael J. Karber
	 	Title:	General Counsel

 

[Signature Page to Amended and Restated Guaranty]

 

     

     

    

 

	 	PURCHASER:
	 	 
	 	CITIBANK, N.A.

 

	 	By:	/s/ LINDSAY DECHIARO

	 	Name:	Lindsay DeChiaro
	 	Title:	Authorized Signatory

 

[Signature
Page to Amended and Restated Guaranty]Exhibit 10.1
​
Execution Version
​
​

SETTLEMENT AGREEMENT
This Settlement Agreement (this “Agreement”) is made as of May 27, 2022 (the “Execution Date”), by and among (a) SN Catarina, LLC (“SN Catarina”), (b) Catarina Midstream, LLC (“Catarina Midstream”), (c) Mesquite Energy, Inc. (formerly known as Sanchez Energy Corporation) (“Mesquite”), (d) Evolve Transition Infrastructure LP (formerly known as Sanchez Midstream Partners, LP) (“Evolve”), (e) Evolve Transition Infrastructure GP LLC (“Evolve GP”), (f) SP Holdings, LLC (“SP Holdings”), and (g) SN Operating, LLC (“SN Operating”).  Each of SN Catarina, Catarina Midstream, Mesquite, Evolve, Evolve GP, SP Holdings, and SN Operating may be referred to in this Agreement individually as a “Party” and collectively as the “Parties.” Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in section 1.1 of this Agreement. 
RECITALS
WHEREAS, SN Catarina has rights to explore and produce oil and gas on certain Eagle Ford Shale properties in Dimmit and Webb Counties, Texas and are referred to as the “Catarina” properties; 
WHEREAS, Catarina Midstream and SN Catarina are each a party to the Catarina Gathering Agreement pursuant to which Catarina Midstream provides certain wellhead gathering, transportation, processing, and other services to SN Catarina with respect to the Catarina oil and gas assets;
WHEREAS, Catarina Midstream commenced the Arbitration for damages and declaratory relief concerning the rights of each party to the Catarina Gathering Agreement and SN Catarina asserted counterclaims on September 20, 2021, seeking damages and its own declaration of rights; 
WHEREAS, on October 15, 2021, Mesquite and SN Catarina commenced the Adversary Proceeding seeking certain relief relating to the transaction pursuant to which SN Catarina transferred Catarina Midstream to Evolve and certain payments made by SN Catarina to Catarina Midstream thereafter;
WHEREAS, certain disputes exist between and among the Parties relating to, inter alia, the proper interpretation of the Catarina Gathering Agreement and the rates charged by Catarina Midstream prior to April 1, 2022; and
WHEREAS, the Parties have agreed to a global resolution among them in order to resolve the various claims, defenses, causes of action, and other disputes among them on the terms and subject to the conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the representations, warranties, covenants, releases, and other agreements contained in this Agreement, and for other good and valuable 

​
 ​

consideration, the receipt and sufficiency of which are hereby acknowledged, on the terms and subject to the conditions of this Agreement, the Parties hereby agree as follows:
ARTICLE 1​
DEFINITIONS AND RULES OF INTERPRETATION
1.1Definitions.  Except as otherwise expressly set forth herein, the following terms have the following meanings:
“9019 Motion” has the meaning set forth in Section 2.2.1(a).
“Adversary Proceeding” means the adversary proceeding commenced in the Bankruptcy Cases by Mesquite and SN Catarina against Evolve and Catarina Midstream, Adversary Proceeding No. 21-03931 (MI).
“Approval Order” means a final, non-appealable order of the Bankruptcy Court, entered pursuant to Rule 9019 of the Federal Rules of Bankruptcy Procedure, approving this Agreement, including the Releases set forth in Exhibit A hereto. 
“Arbitration” means the arbitration initiated by Catarina Midstream against SN Catarina on August 30, 2021, pursuant to the International Institute For Conflict Prevention & Resolution Non-Administered Arbitration Rules and relating to the Catarina Gathering Agreement, including all claims and counterclaims asserted therein. 
“Bankruptcy Cases” means the chapter 11 cases of the Debtors pending before the Bankruptcy Court, styled In re Sanchez Energy Corporation, et al., Case No. 19-34508 (MI) (Bankr. S.D. Tex.) (Jointly Administered).
“Bankruptcy Court” means the United States Bankruptcy Court for the Southern District of Texas.
“Bankruptcy Rules” means the Federal Rules of Bankruptcy Procedure.
“Catarina Gathering Agreement” means that certain Firm Gathering and Processing Agreement, dated as of October 14, 2015, by and between SN Catarina, as Producer, and Catarina Midstream, as Gatherer, as amended by that certain Amendment No. 1 to Firm Gathering and Processing Agreement, executed on June 30, 2017 but effective as of April 1, 2017, and as amended and restated as of the Execution Date.
“Catarina Midstream” means Catarina Midstream, LLC, a wholly-owned direct subsidiary of Evolve.
“Causes of Action” has the meaning set forth in the Plan.  
“Creditor Representative” means the Lien-Related Litigation Creditor Representative as defined in the Plan.
​
“Effective Date” has the meaning set forth in Section 4.1.

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“Evolve” means Evolve Transition Infrastructure LP (formerly known as Sanchez Midstream Partners, LP). 
“Mesquite” means Mesquite Energy, Inc. (formerly known as Sanchez Energy Corporation).
“Plan” means the Second Amended Joint Chapter 11 Plan of Reorganization of Sanchez Energy Corporation and its Debtor Affiliates, dated as of April 30, 2020 [DKT. #1205], as amended or modified from time to time.
“Releases” means the releases to be given by each Party pursuant to this Agreement and in the form attached hereto as Exhibit A.
“SN Catarina” means SN Catarina, LLC.
“SN Operating” means SN Operating, LLC.
“Termination Option” means the termination option set forth in Section 5.1.2.
1.2Rules of Interpretation. All references in this Agreement to articles, sections, subsections, Exhibits (as defined below), and other subdivisions refer to corresponding articles, sections, subsections, Exhibits, and other subdivisions of this Agreement unless expressly provided otherwise.  Titles appearing at the beginning of any articles, sections, subsections, Exhibits, and subdivisions are for convenience only and will not constitute part of such articles, sections, subsections, Exhibits, and subdivisions and will be disregarded in construing the language contained in such articles, sections, subsections, Exhibits, and subdivisions. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited.  Words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires.  References to a written agreement refer to such agreement as it may be amended, modified, or supplemented from time to time.  Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender.  This Agreement will inure to the benefit of and be binding upon the Parties and their respective successors and permitted assigns.  Examples will not be construed to limit, expressly or by implication, the matter they illustrate.  The word “includes” and its derivatives means “includes, but is not limited to” and corresponding derivative expressions.  Where a date or time period is specified, it will be deemed inclusive of the last day in such period or the date specified, as the case may be.  No consideration will be given to the fact or presumption that one Party had a greater or lesser hand in drafting this Agreement.  The Recitals are incorporated into and form part of this Agreement and shall be deemed true and correct representations of the Parties’ respective positions with respect to the statements therein.
1.3Exhibits.  The following exhibits (collectively “Exhibits,” and each an “Exhibit”) are attached to, form part of, and are incorporated herein by reference as though contained in the body of this Agreement:
Exhibit A Form of Releases 
Exhibit BForm of Terra Assignment 
​

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Whenever any term or condition, whether express or implied, of any Exhibit conflicts with or is at variance with any term or condition of the body of this Agreement, the terms and conditions of the body of this Agreement will prevail to the extent of such conflict or variance.
ARTICLE 2​
Agreements OF THE Parties
2.1Execution Date Agreements. 
2.1.1Stay of Disputes.  Immediately following the execution of this Agreement, the Parties agree to promptly and diligently seek a stay of all deadlines and proceedings in both the Arbitration and the Adversary Proceeding pending the effectiveness of the Releases and further agree not to initiate any new proceedings relating to the matters subject to the Releases.  If this Agreement is terminated pursuant to Article 5, any Party to the Arbitration or the Adversary Proceeding may seek to lift the stay of such dispute, which shall not be objected to by any other Party.
2.1.2Tolling.  The Parties agree that the Tolling Period (as defined below) shall not be included in computing any statute of limitations or statute of repose for any claim or cause of action subject to the Releases (the “Tolled Claims”), nor will the Tolling Period be considered in support of a laches defense or any other time-based doctrine or defense, rule, or statute otherwise limiting any Party’s right to preserve and prosecute any Tolled Claim.  The Parties agree that they will not interpose in any lawsuit or action involving the Tolled Claims any defense that the statute of limitations or statute of repose expired during the Tolling Period or based on the passage of time during the Tolling Period.  Nothing in this Agreement shall have the effect of reviving any claims or causes of action that are otherwise barred by any statute of limitations or statute of repose prior to the Execution Date.  The “Tolling Period” shall mean the period of time from the Execution Date through the earlier of (a) all Releases required under this Agreement becoming effective, or (b) thirty (30) days after the date this Agreement is terminated pursuant to Section 5.1 of this Agreement.
2.2Post-Execution Agreements. 
2.2.1Affirmative Covenants.  
(a)Concurrently with the execution of this Agreement, Mesquite, SN Catarina, and SN Operating shall file with the Bankruptcy Court a motion pursuant to Rule 9019 of the Bankruptcy Rules seeking the Approval Order (the “9019 Motion”) on an expedited basis and seeking a return date of no more than fourteen (14) days.  Mesquite, SN Catarina, and SN Operating hereby covenant and agree to diligently and in good faith (a) pursue the Approval Order on an emergency basis, seeking a return date of no more than fourteen (14) days; and (b) consult with the Creditor Representative, as and to the extent required by the Plan; provided, however, that Mesquite, SN Catarina, and SN Operating shall not be obligated to pursue any appeal from an order denying the 9019 Motion; provided further, however, that Mesquite, SN Catarina, and SN Operating shall diligently and in good faith defend an appeal from an order granting the 9019 Motion.  From and after the date hereof until the Effective Date, Mesquite shall keep Evolve reasonably apprised of the nature and substance of any communications with or from the Creditor 

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Representative regarding the matters set forth in this Agreement.  The 9019 Motion shall not be withdrawn once filed absent written agreement of all Parties. 
(b)Catarina Midstream and Evolve hereby covenant and agree to reasonably cooperate with Mesquite to obtain the Approval Order.
(c)If the Bankruptcy Court indicates that amendments are required to this Agreement in order to receive the Approval Order, the Parties will use commercially reasonable efforts to amend this Agreement in accordance with such requirements and expeditiously resubmit any such amended Settlement Agreement for Bankruptcy Court approval; provided, however, that no Party is obligated to agree to any amendments required by the Bankruptcy Court, and each Party reserves the right to respond to any amendments required by the Bankruptcy Court consistent with its respective fiduciary duties.
2.2.2Public Announcements.  Each Party shall (a) consult with each other Party before issuing any press release or otherwise making any public statement (including any Form 8-K or other regulatory filing) with respect to the transactions contemplated by this Agreement, (b) provide to the other Parties for review a copy of any such press release or public statement and (c) not issue any such press release or make any such public statement prior to such consultation and review and the receipt of the prior consent of the other Parties; provided, however, that in the case of each of clauses (a) through (c), if any Party is required to issue such press release or make such public statement by laws or regulations applicable to such Party or its affiliates, regulations of any stock exchange applicable to such Party or its affiliates, or the Bankruptcy Court with respect to filings to be made with the Bankruptcy Court in connection with this Agreement, the Party required to issue the press release or make the public statement or filing shall, prior to issuing such press release or making such public statement or filing, use its commercially reasonable efforts to allow the other Parties reasonable time to review and comment on such release, statement or filing to the extent practicable and permitted by law but shall not be required to obtain any other Party’s consent or accept any such comments.
2.3Effective Date Agreements.
2.3.1Releases.  Within five days after the Effective Date, each Party will execute and deliver a release to each other Party in the form attached as Exhibit A (the “Releases”). The Releases will become effective upon Catarina Midstream’s receipt of the Cash Payment set forth in Section 2.3.2.   
2.3.2Cash Payment.  Within five days after the Effective Date, and upon the mutual exchange of all Releases in accordance with Section 2.3.1, SN Catarina shall deliver $10,000,000.00 in cash, by wire transfer of immediately available funds, to an account or accounts designated by Catarina Midstream.
2.3.3Terra Assignment.  Within five days after the Effective Date, Evolve shall execute and deliver to Mesquite an assignment substantially in the form of Exhibit B, which assigns its claims against Terra Energy Partners, LLC, Benjamin “B.J.” Reynolds, Mark Mewshaw, and Wes Hobbs that are being litigated in the 11th Judicial District Court of Harris County, Texas, Cause No. 2016-18909, to Mesquite.  

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2.3.4Dismissal of Proceedings.  Within five days after the Effective Date, the Parties shall sign and submit stipulations of dismissal, or such other documents as may be required, to effectuate dismissal of the Arbitration and Adversary Proceeding with prejudice, and no Party shall object to any such dismissals. 
2.4Other Agreements of All Parties.  Each of the Parties agrees to cooperate with each other Party and negotiate in good faith in connection with, and to exercise best efforts with respect to, the pursuit, approval of, and implementation of the Agreement and the covenants and agreements set forth herein.  Furthermore, subject to the terms hereof, each of the Parties agrees to take such action as may be reasonably necessary or reasonably requested by the other Parties to carry out the purposes and intent of this Agreement and shall refrain from taking any action that would frustrate the purposes and intent of this Agreement.
ARTICLE 3​
Representations and Warranties
3.1Representations and Warranties of SN Catarina, Mesquite, and SN Operating.
3.1.1Each of SN Catarina, Mesquite, and SN Operating, solely with respect to itself, represents and warrants to each of the other Parties hereto that the following statements are true, correct, and complete as of the Execution Date and as of the Effective Date:
(a)Such Party is validly existing and in good standing under the laws of the state of its incorporation or organization, and has all requisite corporate, partnership, limited liability company, or similar authority to enter into this Agreement and carry out the agreements contemplated hereby and to perform its obligations contemplated hereunder.  The execution and delivery of this Agreement and the performance of such Party’s obligations hereunder have been duly authorized by all necessary corporate, limited liability company, partnership, or other similar action on its part.
(b)The execution, delivery and performance by such Party of this Agreement will not, as of the Execution Date and Effective Date (i) violate any material provision of law, rule, or regulation applicable to it or its charter or bylaws (or other similar governing documents), or (ii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any material contractual obligation to which it is a party.
(c)The execution, delivery, and performance by such Party of this Agreement does not and will not require any material registration or filing with, consent or approval of, or notice to, or other action, with or by, any federal, state, or governmental authority or regulatory body.
(d)The sum of such Party’s assets, at fair value, exceeds the amount of such Party’s liabilities, and such Party has sufficient assets to pay its liabilities as they become due in the ordinary course.
(e)Such Party has not assigned or otherwise transferred any of the claims or causes of action released pursuant to this Agreement.

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(f)This Agreement is the legally valid and binding obligation of such Party, enforceable against it in accordance with its terms.
3.2Representations and Warranties of Catarina Midstream, Evolve, SP Holdings, and Evolve GP.  
3.2.1Each of Catarina Midstream, Evolve, SP Holdings, and Evolve GP, solely with respect to itself, represents and warrants to each of the other Parties hereto that the following statements are true, correct, and complete as of the Execution Date and as of the Effective Date:
(a)Such Party is validly existing and in good standing under the laws of the state of its incorporation or organization, and has all requisite corporate, partnership, limited liability company, or similar authority to enter into this Agreement and carry out the agreements contemplated hereby and to perform its obligations contemplated hereunder.  The execution and delivery of this Agreement and the performance of such Party’s obligations hereunder have been duly authorized by all necessary corporate, limited liability company, partnership, or other similar action on its part.
(b)The execution, delivery and performance by such Party of this Agreement will not, as of the Execution Date and Effective Date (i) violate any material provision of law, rule, or regulation applicable to it or its charter or bylaws (or other similar governing documents), or (ii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any material contractual obligation to which it is a party.
(c)The execution, delivery, and performance by such Party of this Agreement does not and will not require any material registration or filing with, consent or approval of, or notice to, or other action, with or by, any federal, state, or governmental authority or regulatory body.
(d)The sum of such Party’s assets, at fair value, exceeds the amount of such Party’s liabilities, and such Party has sufficient assets to pay its liabilities as they become due in the ordinary course.
(e)Such Party has not assigned or otherwise transferred any of the claims or causes of action released pursuant to this Agreement.
(f)This Agreement is the legally valid and binding obligation of such Party, enforceable against it in accordance with its terms.
ARTICLE 4​
ConDitions Precedent 
4.1Conditions Precedent to the Effective Date.  The “Effective Date” will occur automatically and without further action by any Party on the date of the Approval Order, or on such other date as the Parties mutually agree in writing following an order of the Bankruptcy Court granting the 9019 Motion but before such order becomes final and non-appealable. 

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ARTICLE 5​
Termination 
5.1Termination. This Agreement may be terminated only in the following circumstances.
5.1.1By mutual written consent of all the Parties; or
5.1.2Termination Option. If, and only if, 
(a)the Bankruptcy Court denies the 9019 Motion; or
(b)an appeal is taken from an order granting the 9019 Motion and such order is not affirmed and not re-entered by the Bankruptcy Court on remand; then
any Party hereto may immediately terminate this Agreement upon written notice to the other Parties, provided that such terminating party nor any of its affiliates have materially breached this Agreement.  Termination of this Agreement pursuant to Section 5.1.2 shall be without penalty or payment obligation, unless the terminating party or any of its affiliates have materially breached this Agreement.
​
ARTICLE 6​
Miscellaneous
6.1Amendments and Waivers.  This Agreement may be amended only upon written consent of each Party.  Neither this Agreement nor any provisions hereof may be changed, waived, or discharged, nor may any consent to the departure from the terms hereof be given, orally (even if supported by new consideration), but only by an instrument in writing signed by each of the Parties to this Agreement.  Any waiver or consent so given shall be effective only in the specified instance and for the specific purpose for which given.
6.2Governing Law; Jurisdiction; Waiver of Jury Trial.
6.2.1This Agreement shall be construed and enforced in accordance with, and the rights of the Parties shall be governed by, the laws of the State of Texas, without giving effect to the conflict of laws principles thereof.  Each of the Parties irrevocably agrees that any legal action, suit, or proceeding arising out of or relating to this Agreement brought by any Party or its successors or assigns shall be brought and determined in the Bankruptcy Court, and each of the Parties hereby irrevocably submits to the jurisdiction of the Bankruptcy Court for itself and with respect to its property, generally and unconditionally, with regard to any such proceeding arising out of or relating to this Agreement.  Each of the Parties further agrees that notice as provided in section 6.10 shall constitute sufficient service of process, and the Parties further waive any argument that such service is insufficient.  Each of the Parties hereby irrevocably and unconditionally waives and agrees not to assert by way of motion or as a defense, counterclaim, or otherwise, in any legal action, suit, or proceeding arising out of or relating to this Agreement, (a) any claim that it is not personally subject to the jurisdiction of the Bankruptcy Court as described herein for any reason, (b) that it or its property is exempt or immune from jurisdiction 

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of the Bankruptcy Court, or from any legal process commenced in the Bankruptcy Court (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise), or (c) that (i) a proceeding in the Bankruptcy Court is brought in an inconvenient forum, (ii) the venue of such proceeding is improper, or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by the Bankruptcy Court, and each Party further consents to the entry of a final order by the Bankruptcy Court in the event that the Bankruptcy Court or another court of competent jurisdiction concludes that the Bankruptcy Court cannot or could not enter a final order or judgment consistent with Article III of the United States Constitution absent the consent of some or all of the Parties.
6.2.2Each Party 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 or the transactions contemplated hereby (whether based on contract, tort or any other theory).
6.3Specific Performance/Remedies.  It is understood and agreed by the Parties that money damages would not be a sufficient remedy for any breach of this Agreement by any Party and each non-breaching Party shall be entitled to specific performance and injunctive or other equitable relief (including an award of attorneys’ fees and costs) as a remedy for any such breach, without the necessity of proving the inadequacy of money damages as a remedy.  Each Party hereby waives any requirement for the security or posting of any bond in connection with such remedies.
6.4Survival.  Notwithstanding the termination of this Agreement pursuant to Article 5, (a) Article 1, sections 2.1, 2.2, 3.1, 3.2 and this Article 6 shall survive such termination and shall continue in full force and effect in accordance with the terms hereof and (b) any liability of a Party for failure to comply with the terms of this Agreement shall survive such termination.  
6.5Successors and Assigns; Severability. Neither this Agreement nor any of the rights and obligations hereunder may be assigned or transferred by any Party (whether by operation of law or otherwise) without the prior written consent of each other Party.  Any attempted assignment in violation of this section shall be void.  This Agreement is intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators, and representatives.  If any provision of this Agreement, or the application of any such provision to any person or entity or circumstance, shall be held invalid or unenforceable, in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof and this Agreement shall continue in full force and effect.  Upon any such determination of invalidity, the Parties shall negotiate in good faith to modify this Agreement so as to effectuate the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.
6.6Several, Not Joint, Obligations.  Except as otherwise expressly stated in this Agreement, the agreements, representations, and obligations of the Parties pursuant to this Agreement are, in all respects, several and not joint or joint and several.

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6.7Relationship Among Parties.  This Agreement shall be solely for the benefit of the Parties, and no other person or entity shall be a third-party beneficiary hereof.
6.8Prior Negotiations; Entire Agreement.  This Agreement, including all Exhibits, constitutes the entire agreement and understanding of the Parties and supersedes all other prior negotiations, agreements, or understandings, in each case with respect to the subject matter hereof.  
6.9Counterparts.  This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same agreement.  Execution copies of this Agreement delivered by facsimile or PDF shall be deemed originals for the purposes of this paragraph.
6.10Notices.  All notices hereunder shall be deemed given if in writing and delivered if sent by electronic mail, courier, or by registered or certified mail (return receipt requested) to the following addresses: 
6.10.1If to SN Catarina, Mesquite, or SN Operating, to:
Mesquite Energy, Inc.
700 Milam Street
Suite 600
Houston, Texas 77002
Attention: Gregory Kopel
Email: gkopel@mesquite-energy.com
​
With a copy (which shall not constitute notice) to:
​
Gibson, Dunn & Crutcher LLP
200 Park Avenue
New York, New York 10166
Attention:  Marshall R. King
Email:  mking@gibsondunn.com
​
6.10.2If to Catarina Midstream, Evolve, or Evolve GP, to:
Catarina Midstream, LLC
c/o Evolve Transition Infrastructure LP
1360 Post Oak Blvd, Suite 2400
Houston, TX 77056
Attn: Chief Financial Officer
Email: cward@evolvetransition.com
​
With a copy (which shall not constitute notice) to: 
​
Hunton Andrews Kurth LLP
600 Travis Street, Suite 4200
Houston, Texas 77002

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Attention: M. Kaylan Dunn and Phil Haines
Email: kaylandunn@huntonak.com and phaines@huntonak.com 
​
and
​
Susman Godfrey LLP
1000 Louisiana, Suite 5100
Houston, TX 77002
Attention: Neal Manne and Rob Safi
Email: nmanne@susmangodfrey.com and rsafi@susmangodfrey.com 
6.10.3If to SP Holdings, to:
Stonepeak Catarina Holdings LLC
600 Travis Street, Suite 6550
Houston, Texas 77002
Attention: Claire Campbell
Email: campbell@stonepeak.com 
​
6.11Settlement Discussions.  This Agreement is part of a proposed settlement of matters that could otherwise be the subject of litigation among the Parties.  Pursuant to Rule 408 of the Federal Rules of Evidence, any applicable state rules of evidence, and any other applicable law, foreign or domestic, this Agreement and all negotiations relating thereto shall not be admissible into evidence in any proceeding among the Parties other than a proceeding to enforce its terms.  
6.12Limitation on Liability.  Notwithstanding anything to the contrary contained in this Agreement, no Party shall be liable to any other Party or its affiliates, whether in contract, tort (including negligence and strict liability), or otherwise at law or in equity for any consequential, special, or punitive damages for any act or failure to act under any provision of this Agreement, even if advised of the possibility thereof. 
6.13Expenses.  The parties shall each bear their own costs and expenses in connection with this Agreement and with respect to the resolved litigation unless the Releases do not become effective, in which case each party shall bear its own costs with respect to this Agreement but shall not be precluded from seeking fees and costs in connection with the Arbitration or Adversary Proceeding. 
​
[Signature pages follow]
​
​
​
​

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​

MESQUITE ENERGY, INC.
​
​
By:/s/ Cameron W. George​ ​​ ​​ ​
Name: Cameron W. George
Title: Chief Executive Officer
​
​
​
​
SN CATARINA, LLC
​
​
​
By:/s/ Cameron W. George​ ​​ ​​ ​
Name: Cameron W. George
Title: Chief Executive Officer
​
​
​
​
SN OPERATING, LLC
​
​
​
By:/s/ Cameron W. George​ ​​ ​​ ​
Name: Cameron W. George
Title: Chief Executive Officer
​

[Signature Page to Settlement Agreement]

​

EVOLVE TRANSITION INFRASTRUCTURE GP LLC
By: /s/ Charles C. Ward​ ​​ ​​ ​​ ​
Name: Charles Ward
Title: Chief Financial Officer and Secretary 
​
​
​
EVOLVE TRANSITION INFRASTRUCTURE LP
By: Evolve Transition Infrastructure GP LLC, 
its general partner
​
By: /s/ Charles C. Ward​ ​​ ​​ ​​ ​
Name: Charles Ward
Title: Chief Financial Officer and Secretary 
​
​
​
​
CATARINA MIDSTREAM, LLC
By: Evolve Transition Infrastructure LP, 
its sole member
​
By: Evolve Transition Infrastructure GP LLC, 
its general partner
​
By: /s/ Charles C. Ward​ ​​ ​​ ​​ ​
Name: Charles Ward
Title: Chief Financial Officer and Secretary 
​
​
​
​
​

[Signature Page to Settlement Agreement]

​

	SP HOLDINGS, LLC
​

	By:
	Stonepeak Catarina Holdings, LLC, 
its sole member

	​
	​

	By: 
	Stonepeak Texas Midstream Holdco LLC, 
its managing member

	​
	​

	By:
	Stonepeak Catarina Upper Holdings, LLC
its managing member

	​
	​

	By:
	Stonepeak Infrastructure Fund (Orion AIV) LP,
its managing member

	​
	​

	By: 
	Stonepeak Associates LLC, 
its general partner

	​
	​

	By: 
	Stonepeak GP Holdings LP,
its sole member

	​
	​

	By: 
	Stonepeak GP Investors LLC, 
its general partner

	​
	​

	By: 
	Stonepeak GP Investors Manager LLC, 
its managing member

	​
	​

	By:
	/s/ Jack Howell

	​
	Name:  Jack Howell

	​
	Title:    Senior Managing Director

​
​

[Signature Page to Settlement Agreement]

​

Exhibit A
​
Form of Releases
​
​
​
​
​

Exhibit A - 1

​

mutual RELEASE AGREEMENT
This Mutual Release Agreement is made and entered into as of May [__], 2022 by and among (a) Mesquite Energy, Inc. (formerly known as Sanchez Energy Corporation) (“Mesquite”), (b) SN Catarina, LLC (“SN Catarina”), (c) SN Operating LLC (“SN Operating,” and together with Mesquite and SN Catarina (the “Mesquite Parties”), (d) Evolve Transition Infrastructure LP (formerly known as Sanchez Midstream Partners, LP) (“Evolve”), (e) Catarina Midstream, LLC (“Catarina Midstream”), (f) Evolve Transition Infrastructure GP LLC (“Evolve GP”), and (g) SP Holdings, LLC (“SP Holdings,” and together with Evolve, Catarina Midstream, and Evolve GP, the “Evolve Parties”).  Each of the Mesquite Parties and the Evolve Parties may be referred to in this Agreement individually as a “Party” and collectively as the “Parties.”
In consideration of the representations, warranties, covenants, releases, and other agreements contained herein and in the Settlement Agreement entered into by the Parties on May 27, 2022 (the “Settlement Agreement”), and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
Mesquite Parties’ Releases.  Each of the Mesquite Parties, on behalf of themselves and each of their respective current and former officers, directors, managers, principals, members, shareholders, partners, investors, employees, subsidiaries,1 affiliates, divisions, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, other professionals, estates, predecessors, successors and assigns, in each case, solely in their capacity as such, does hereby fully, finally, completely, and absolutely RELEASE, ACQUIT, and FOREVER DISCHARGE the Evolve Parties and each of their respective current and former officers, directors, managers, principals, members, shareholders, partners, investors, employees, subsidiaries, affiliates, divisions, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, other professionals, estates, predecessors, successors and assigns, in each case, solely in their capacity as such (collectively, the “Evolve Releasees”), of and from any and all actions, causes of action, as that term is generally understood, Causes of Action, as that term is defined in the Second Amended Joint Chapter 11 Plan of Reorganization of Sanchez Energy Corporation and its Debtor Affiliates, dated as of April 30, 2020 [DKT. #1205], as amended or modified from time to time (the “Plan”), suits, debts, dues, sums of money, accounts, reckonings, contracts, damages, judgments, claims, and demands whatsoever, in law or equity, known or unknown, asserted or unasserted, including, but not limited to claims that were or could have been asserted in (a) the adversary proceeding commenced in the Bankruptcy Cases by Mesquite and SN Catarina against Evolve and Catarina Midstream, Adversary Proceeding No. 21-03931 (MI) (the “Adversary Proceeding”) or (b) the arbitration initiated by Catarina Midstream against SN Catarina on August 30, 2021, pursuant to the International Institute For Conflict Prevention & Resolution Non-Administered Arbitrations Rules, including all claims and counterclaims asserted therein (the “Arbitration”), which the Mesquite Parties ever had, now have, or hereafter can, shall, or may have, against any of the Evolve Releasees for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world through the Execution Date, as defined in the Settlement Agreement; provided, however, 

1 For the avoidance of doubt, the Mesquite Parties’ Releases include releases on behalf of all Mesquite subsidiaries, including, but not limited to SN Palmetto, LLC; SN Marquis, LLC; SN Cotulla Assets, LLC; SN TMS, LLC; Rockin L Ranch Company, LLC; SN EF Maverick, LLC; SN Payables, LLC; and SN UR Holdings, LLC.

Exhibit A - 2

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that nothing in this paragraph shall be deemed to release (i) any claims, defenses, or causes of action that have been or could be asserted against Carnero G&P, LLC (“Carnero”), (ii) any claims, defenses, or causes of action arising from pipeline operations or incidents occurring or discovered on or after the Execution Date, or (iii) claims against Antonio R. Sanchez, Jr., Antonio R. Sanchez, III, Patricio Sanchez, Eduardo Sanchez, Gerald Willinger, or Sanchez Oil & Gas Corp. solely in their capacity as former officers, directors, agents, employees, service providers, or advisors of the Debtors, as defined in the Plan, including such claims currently being tolled pursuant to (x) the Tolling Agreement dated as of August 8, 2021 by and between Mesquite, Antonio R. Sanchez, III, Gerald Willinger, Sanchez Oil & Gas Corp., Antonio R. Sanchez, Jr., Patricio Sanchez, and Eduardo Sanchez, or (y) the Tolling Agreement dated as of August 8, 2021 by and between Mesquite, Antonio R. Sanchez, Jr., Patricio Sanchez, and Eduardo Sanchez, in each case, as such agreement has been amended; for the avoidance doubt, the carveout in this subsection (iii) is not intended to preserve any claims against Antonio R. Sanchez, Jr., Antonio R. Sanchez, III, Patricio Sanchez, Eduardo Sanchez, or Gerald Willinger in their capacity as former officers, directors, agent, employees, service providers or advisors of the Evolve Parties. For the avoidance of doubt, nothing in this paragraph shall be deemed to release any claims, rights, or obligations that arise or exist from or after the Execution Date, as defined in the Settlement Agreement, including any such claims, rights, obligations arising under (a) the Amended and Restated Firm Gathering and Processing Agreement entered into by SN Catarina and Catarina Midstream on May 27, 2022 (the “Restated Gathering Agreement”), (b) the Gas Lift Agreement entered into by SN Catarina and Catarina Midstream on April 16, 2021 (the “Gas Lift Agreement”), (c) the Settlement Agreement, (d) the letter agreement entered into by SN Catarina and Catarina Midstream on May 27, 2022 concerning access to Catarina field office and allocation of shared costs (the “Field Office Agreement”), or (e) with respect to SN UR Holdings, LLC, in its capacity as Limited Partner of Evolve, that certain Third Amended and Restated Agreement of Limited Partnership of Evolve (as the same may be amended or supplemented, from time to time) or any applicable state or federal securities laws.
Evolve Parties’ Releases.  Each of the Evolve Parties, on behalf of themselves and each of their respective current and former officers, directors, managers, principals, members, shareholders, partners, investors, employees, subsidiaries, affiliates, divisions, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, other professionals, estates, predecessors, successors and assigns, in each case, solely in their capacity as such, does hereby fully, finally, completely, and absolutely RELEASE, ACQUIT, and FOREVER DISCHARGE the Mesquite Parties and each of their respective current and former officers, directors, managers, principals, members, shareholders, partners, investors, employees, subsidiaries, affiliates, divisions, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, other professionals, estates, predecessors, successors and assigns, in each case, solely in their capacity as such (collectively, the “Mesquite Releasees”), of and from any and all actions, causes of action, as that term is generally understood, Causes of Action, as that term is defined in the Plan, suits, debts, dues, sums of money, accounts, reckonings, contracts, damages, judgments, claims, and demands whatsoever, in law or equity, known or unknown, asserted or unasserted, including, but not limited to claims that were or could have been asserted in (a) the Adversary Proceeding or (b) the Arbitration, which the Evolve Parties ever had, now have, or hereafter can, shall, or may have, against any of the Mesquite Releasees for, upon, or by reason of any matter, cause, or thing whatsoever from the beginning of the world through the Execution Date, as defined in the 

Exhibit A - 3

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Settlement Agreement; provided, however, that nothing in this paragraph shall be deemed to release (i) any claims, defenses, or causes of action that have been or could be asserted by Carnero, or (ii) any claims, defenses, or causes of action arising from pipeline operations or incidents occurring or discovered on or after the Execution Date. For the avoidance of doubt, nothing in this paragraph shall be deemed to release any claims, rights, or obligations that arise or exist from or after the Execution Date, as defined in the Settlement Agreement, including any such claims, rights, obligations arising under (a) the Restated Gathering Agreement, (b) the Gas Lift Agreement, (c) the Settlement Agreement, (d) the Field Office Agreement, or (e) with respect to SN UR Holdings, LLC, in its capacity as Limited Partner of Evolve, that certain Third Amended and Restated Agreement of Limited Partnership of Evolve (as the same may be amended or supplemented, from time to time) or any applicable state or federal securities laws.
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[Signature pages follow]
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Exhibit A - 4

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MESQUITE ENERGY, INC.
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By:​ ​​ ​​ ​​ ​​ ​​ ​
Name: Cameron W. George
Title: Chief Executive Officer
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SN CATARINA, LLC
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By:​ ​​ ​​ ​​ ​​ ​​ ​
Name: Cameron W. George
Title: Chief Executive Officer
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SN OPERATING, LLC
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By:​ ​​ ​​ ​​ ​​ ​​ ​
Name: Cameron W. George
Title: Chief Executive Officer
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Exhibit A - 5

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EVOLVE TRANSITION INFRASTRUCTURE GP LLC
By: ​ ​​ ​​ ​​ ​​ ​​ ​​ ​
Name: Charles Ward
Title: Chief Financial Officer and Secretary 
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EVOLVE TRANSITION INFRASTRUCTURE LP
By: Evolve Transition Infrastructure GP LLC, 
its general partner
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By: ​ ​​ ​​ ​​ ​​ ​​ ​
Name: Charles Ward
Title: Chief Financial Officer and Secretary 
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CATARINA MIDSTREAM, LLC
By: Evolve Transition Infrastructure LP, 
its sole member
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By: Evolve Transition Infrastructure GP LLC, 
its general partner
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By: ​ ​​ ​​ ​​ ​​ ​​ ​​ ​
Name: Charles Ward
Title: Chief Financial Officer and Secretary
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Exhibit A - 6

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	SP HOLDINGS, LLC
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	By:
	Stonepeak Catarina Holdings, LLC, 
its sole member

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	By: 
	Stonepeak Texas Midstream Holdco LLC, 
its managing member

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	By:
	Stonepeak Catarina Upper Holdings, LLC
its managing member

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	By:
	Stonepeak Infrastructure Fund (Orion AIV) LP,
its managing member

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	By: 
	Stonepeak Associates LLC, 
its general partner

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	By: 
	Stonepeak GP Holdings LP,
its sole member

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	By: 
	Stonepeak GP Investors LLC, 
its general partner

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	By: 
	Stonepeak GP Investors Manager LLC, 
its managing member

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	By:
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	Name:  Jack Howell

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	Title:    Senior Managing Director

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Exhibit A - 7

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Exhibit B
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Form of Terra Assignment
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Exhibit B - 1

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Assignment Agreement
This Assignment Agreement (“Agreement”) dated as of the date set forth on the signature page hereof, is made by and between EVOLVE TRANSITION INFRASTRUCTURE, LP (formerly known as Sanchez Production Partners LP and Sanchez Midstream Partners, LP), a limited partnership organized under the laws of the State of Delaware (the “Assignor”), on the one hand, and MESQUITE ENERGY, INC. (formerly known as Sanchez Energy Corporation), a corporation organized under the laws of the State of Delaware (the “Assignee”), on the other hand. 
As used herein, “Adverse Party” means each of Terra Energy Partners LLC, Benjamin “B.J.” Reynolds, Mark Mewshaw, and Wes Hobbs, together with their respective successors and assigns and any other Person added or joined to the Claim from time to time as a defendant or indemnitor or against whom proceedings are asserted or threatened even if such Person is not named or served, and in each case their respective Affiliates and successors. 
As used herein, “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.  For this purpose, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise, and “Controlling” and “Controlled” have meanings correlative thereto.
As used herein, the “Claim” means: the action styled Sanchez Oil & Gas Corp., et al. v. Terra Energy Partners LLC, et al., Cause No. 2016-18909 (Dist. Ct., Harris County, Texas, 11th Jud’l Dist.) and any claims of the Assignor arising out of or related to the conduct alleged in such action.  The Claim also includes any variations or expansions of the above claims by the addition of any claims and/or parties from time to time, as well as the following: (i) any and all related pre- and post-trial proceedings, processes or appeals (or pre- and post-hearing proceedings, processes or appeals, where applicable) in or in connection with such claim(s), including the pursuit of costs or post-judgment or post-arbitral award remedies; (ii) all proceedings seeking to appeal, challenge, confirm, enforce, modify, correct, vacate or annul a judgment or award, as well as proceedings on remand or retrial or rehearing; (iii) all ancillary, parallel or alternative dispute resolution proceedings and processes arising out of or related to the acts or occurrences alleged in such claim(s) (including conciliation or mediation or court filings seeking discovery for or filed in aid of a contemplated or pending arbitration); (iv) re-filings or parallel filings of such claim(s), and any other legal, diplomatic or administrative proceedings or processes founded on the same or related underlying facts giving rise to or forming a basis for such claim(s); (v) ancillary or enforcement proceedings related to the facts or claims alleged from time to time or that could have been alleged in such claim(s) at any time; (vi) all arrangements, settlements, negotiations, or compromises made with any adverse party having the effect of resolving any of the claims against any adverse party that are or could be or could have been brought in such claim(s); and (vii) all rights to collect any damages or awards or otherwise exercise remedies in connection with any of the foregoing. 

Exhibit B - 2

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As used herein, “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership or other entity or governmental authority.
As used herein, “Transferred Rights and Liabilities” means all of the Assignor’s right, title and interest in, to and under and all liabilities of any kind whatsoever resulting from, arising out of or relating to the Claim, including any and all other rights of the Assignor with respect to any of the foregoing and any other rights, benefits, or liabilities of any kind which may now exist or come into existence with respect to any of the foregoing, including, but not limited to, the following:
	(a)	any and all gross, pre-tax monetary awards, damages, recoveries, judgments or other property or value awarded to or recovered by or on behalf of (or reduced to a debt owed to) the Assignor on account or as a result or by virtue (directly or indirectly) of the Claim, whether pursuant to any settlement of the Claim or any collection and enforcement efforts with respect to the Claim, whether by negotiation, arbitration, mediation, diplomatic efforts, lawsuit, or otherwise; and includes all of the Assignor’s legal and/or equitable rights, title and interest in and/or to any of the foregoing, whether in the nature of ownership, lien, security interest or otherwise; and (ii) any consequential, rescissionary, statutory, exemplary, or punitive damages, pre-judgment interest (including damages comparable to pre-judgment interest), post-judgment interest, penalties, and attorneys’ fees and other fees and costs awarded or recovered on account thereof; all of the foregoing constitute Transferred Rights and Liabilities in any form, including cash, real estate, negotiable instruments, intellectual or intangible property, choses in action, contract rights, membership rights, subrogation rights, annuities, claims, refunds, and any other rights to payment of cash and/or transfer(s) of things of value or other property (including property substituted therefor), whether delivered or to be delivered in a lump sum or in installments, and from any and all sources;

	(b)	any and all actions, claims, suits, causes of action, proceedings, controversies, liabilities, obligations, rights, damages, demands, sums of money owed, or claims for relief of whatever kind or nature, whether known or unknown, suspected or unsuspected, anticipated or unanticipated, reduced to judgment, liquidated or unliquidated, fixed or contingent, matured or unmatured, disputed or undisputed, secured or unsecured, assertable directly or derivatively, existing or hereafter arising, in law, equity, or otherwise, against one or more of the Adverse Parties and any of their Affiliates and representatives that in any way are based upon, arise out of or are related to the Claim;  

	(c)	all proceeds of the foregoing (no matter the form of such proceeds); and

	(d)	all liabilities, debts, adverse claims, adverse judgements and obligations of Assignor, including those arising under any law (including the common law) or any rule or regulation of any governmental entity or imposed by any court or any arbitrator in a binding arbitration resulting from, arising out of or relating to the Claim.

In return for good and valuable consideration, including the resolution of disputes between the Assignor and Assignee unrelated to the Claim, the Assignor hereby unconditionally and 

Exhibit B - 3

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irrevocably assigns to the Assignee all of its right, title and interest in and to the Transferred Rights and Liabilities and Assignee hereby unconditionally and irrevocably accepts the assignment of such Transferred Rights and Liabilities (the “Assignment”).  The Assignment shall be deemed an absolute and unconditional assignment by Assignor and assumption by Assignee of the Transferred Rights and Liabilities, and each and every right relating to the Transferred Rights and Liabilities (economic and otherwise), including the right to collect, enforce, settle, compromise, offer to settle, offer to compromise and satisfy the Transferred Rights and Liabilities.
Pursuant to the Assignment, the Assignor retains neither a duty nor a right to seek payment or obligation to make any payment (or otherwise), in each case, in respect of the Transferred Rights and Liabilities.  The Assignee shall bear full responsibility for all collection activities, performance activities and payment activities with respect to the Transferred Rights and Liabilities. 
Assignee shall protect, indemnify, hold harmless and defend assignor against any claims, suits, causes of action, proceedings, controversies, liabilities, obligations, DEBTS, rights, damages, demands, sums of money owed, or claims for relief of whatever kind or nature, whether known or unknown, suspected or unsuspected, anticipated or unanticipated, reduced to judgment, liquidated or unliquidated, fixed or contingent, matured or unmatured, disputed or undisputed, secured or unsecured, assertable directly or derivatively, existing or hereafter arising, in law, equity, or otherwise, RESULTING FROM, arising out of or related to the CLAIM AND TRANSFERRED ASSETS AND LIABILITIES.
The Assignor shall reasonably cooperate with the Assignee in all matters pertaining to collecting and enforcing the Transferred Rights and Liabilities, provided that such cooperation shall be at the sole expense of the Assignee. 
The Assignor and Assignee each agrees to execute, acknowledge and deliver all such further certificates, instruments and other documents, and take all such further action as may be reasonably necessary or appropriate to effect the Assignment and allow the Assignee to secure all actual and potential benefits and assume all actual and potential liabilities of the Assignment.
Neither this Agreement nor the Assignment can be waived or modified in any manner except by a written agreement signed by the Assignor and the Assignee.
This Agreement shall be effective as of the date of execution hereof and shall continue in full force and effect indefinitely.
This Agreement shall be construed in accordance with, and this Agreement and  all matters arising out of or relating in any way whatsoever to this Agreement (whether in contract, tort or otherwise) shall be governed by, the law of the State of Texas (without reference to any choice of 

Exhibit B - 4

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law doctrine that would have the effect of causing this Agreement to be construed in accordance with or governed by the law of any other jurisdiction). 
EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF ACTION, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH PARTY ACKNOWLEDGES THAT (A) IT HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER AND (B) IT MAKES THIS WAIVER KNOWINGLY AND VOLUNTARILY.
This Agreement may be executed in counterparts, each of which is deemed an original, but all of which constitutes one and the same agreement.  Delivery of an executed counterpart of this Agreement electronically or by facsimile shall be effective as delivery of an original executed counterpart of this Agreement.
[Signature page follows]
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Exhibit B - 5

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IN WITNESS WHEREOF, the parties have executed this Assignment Agreement as of May [__], 2022. 
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Assignor:
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EVOLVE TRANSITION INFRASTRUCTURE LP
By: Evolve Transition Infrastructure GP LLC, 
its general partner
By: ​ ​​ ​​ ​​ ​​ ​
Name: Charles Ward
Title:   Chief Financial Officer and Secretary
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	Assignee:
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MESQUITE ENERGY, INC. 
By:
Name: Cameron W. George
Title:   Chief Executive Officer
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 Exhibit B - 6

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