Document:

EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 
 SALE AND
CONTRIBUTION AGREEMENT 
 between 

OWL ROCK CORE INCOME CORP. 
 as
Seller 
 and 
 CORE
INCOME FUNDING IV LLC 
 as Purchaser 

Dated as of March 16, 2022 
  

 TABLE OF CONTENTS 

 

					
		  	 	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	 
		
	 SECTION 1.1 Definitions
	  	 	1	 
		
	 SECTION 1.2 Other Terms
	  	 	3	 
		
	 SECTION 1.3 Computation of Time Periods
	  	 	3	 
		
	 SECTION 1.4 Interpretation
	  	 	3	 
		
	 SECTION 1.5 References
	  	 	4	 
		
	 ARTICLE II CONVEYANCES OF TRANSFERRED ASSETS
	  	 	4	 
		
	 SECTION 2.1 Conveyances
	  	 	4	 
		
	 SECTION 2.2 Repurchase or Substitution of Loan Assets
	  	 	6	 
		
	 SECTION 2.3 Assignments
	  	 	7	 
		
	 SECTION 2.4 Actions Pending Completion of Conveyance
	  	 	7	 
		
	 SECTION 2.5 Indemnification
	  	 	8	 
		
	 SECTION 2.6 Assignment of Rights and Indemnities
	  	 	9	 
		
	 ARTICLE III CONSIDERATION AND PAYMENT; REPORTING
	  	 	9	 
		
	 SECTION 3.1 Purchase Price, Substitution Value and Repurchase Price
	  	 	9	 
		
	 SECTION 3.2 Payment of Purchase Price
	  	 	10	 
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	 	10	 
		
	 SECTION 4.1 Seller’s Representations and Warranties
	  	 	10	 
		
	 SECTION 4.2 Reaffirmation of Representations and Warranties by the Seller; Notice of
Breach
	  	 	14	 
		
	 ARTICLE V COVENANTS OF THE SELLER
	  	 	14	 
		
	 SECTION 5.1 Covenants of the Seller
	  	 	14	 
		
	 SECTION 5.2 Covenant of the Purchaser
	  	 	16	 
		
	 ARTICLE VI CONDITIONS PRECEDENT
	  	 	16	 
		
	 SECTION 6.1 Conditions Precedent
	  	 	16	 
		
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	 	16	 
		
	 SECTION 7.1 Amendments, Etc
	  	 	16	 
		
	 SECTION 7.2 Governing Law: Submission to Jurisdiction; Waiver of Jury Trial
	  	 	16	 
		
	 SECTION 7.3 Notices
	  	 	18	 
		
	 SECTION 7.4 Severability of Provisions
	  	 	18	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

  

					
		  	 	Page	 
		
	 SECTION 7.5 Further Assurances
	  	 	18	 
		
	 SECTION 7.6 No Waiver; Cumulative Remedies
	  	 	18	 
		
	 SECTION 7.7 Counterparts
	  	 	19	 
		
	 SECTION 7.8 Non-Petition
	  	 	19	 
		
	 SECTION 7.9 Transfer of Seller’s Interest
	  	 	19	 
		
	 SECTION 7.10 Binding Effect; Third-Party
Beneficiaries and Assignability
	  	 	19	 
		
	 SECTION 7.11 Merger and Integration
	  	 	19	 
		
	 SECTION 7.12 Headings
	  	 	19	 

  

  
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 This SALE AND CONTRIBUTION AGREEMENT, dated as of March 16, 2022 (as amended,
supplemented or otherwise modified and in effect from time to time, this “Agreement”), between OWL ROCK CORE INCOME CORP., a Maryland corporation, as seller (in such capacity, the “Seller”), and CORE INCOME FUNDING
IV LLC, a Delaware limited liability company, as purchaser (in such capacity, the “Purchaser”). 
 WITNESSETH: 

WHEREAS, on and after the date hereof, the Seller may, from time to time on each Conveyance Date (as defined below), sell or contribute,
transfer, and otherwise convey, to the Purchaser, without recourse except to the extent specifically provided herein, and the Purchaser may, from time to time on each Conveyance Date, purchase or accept a contribution of all right, title and
interest of the Seller (whether now owned or hereafter acquired or arising, and wherever located) in and to the Loan Assets (as defined below) mutually agreed by the Seller and the Purchaser; and 

WHEREAS, it is the Seller’s and the Purchaser’s intention that the conveyance of the Transferred Assets under each assignment
agreement and this Agreement is a “true sale” or a “true contribution” for all purposes, such that, upon payment of the purchase price therefor or the making of a contribution, the Transferred Assets will constitute property of
the Purchaser from and after the applicable transfer date; 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, it is hereby agreed by and between the Purchaser and the Seller as follows: 
 ARTICLE I

 DEFINITIONS 

SECTION 1.1 Definitions. As used in this Agreement, the following terms shall have the following meanings (such meanings to be
equally applicable to both the singular and plural forms of the terms defined). All capitalized terms used herein but not defined herein shall have the respective meanings specified in, or incorporated by reference into, the Credit Agreement, dated
as of March 16, 2022 (as amended, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”), by and among the Purchaser, as borrower, the Lenders party thereto from time to time, Sumitomo
Mitsui Banking Corporation, as administrative agent (in such capacity, the “Administrative Agent”), State Street Bank and Trust Company, as collateral agent (in such capacity, the “Collateral Agent”), collateral
administrator and custodian (in such capacity, the “Custodian”), and Alter Domus (US) LLC, as document custodian (in such capacity, the “Document Custodian”). 

“Agreement” has the meaning set forth in the preamble hereto. 

“Convey” means to sell, transfer, assign, contribute, substitute or otherwise convey assets hereunder (each such Conveyance
being herein called a “Conveyance”). 

  
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 “Conveyance Date” means the date of a Conveyance, as specified in the
applicable Purchase Notice or Repurchase/Substitution Notice. 
 “Excluded Amounts” means (i) any amount that is
attributable to the reimbursement of payment by or on behalf of the Seller of any Taxes, fee or other charge imposed by any Governmental Authority on any Loan Asset, (ii) any interest or fees (including origination, agency, structuring,
management or other reasonable up-front fees) that are for the account of the Seller, (iii) any escrows relating to Taxes, insurance and other amounts in connection with Loan Assets which are held in an
escrow account for the benefit of the obligor and the secured party pursuant to escrow arrangements under the related underlying instruments, (iv) to the extent paid using amounts other than proceeds of the Loan Assets and proceeds of Loans, as
applicable, any amount paid in respect of reimbursement for expenses owed in respect of any Loan Asset pursuant to the related underlying instrument or (v) any amount paid to the Purchaser in error. 

“Indorsement” has the meaning specified in Section 8-102(a)(11) of the UCC, and
“Indorsed” has a corresponding meaning. 
 “Loan Asset” means each commercial loan identified on Schedule A
hereto, and each commercial loan identified on any Purchase Notice. 
 “Proceeds” has the meaning set forth in
Section 4.1(n). 
 “Purchase Notice” has the meaning set forth in
Section 2.1(a). 
 “Purchase Price” has the meaning set forth in
Section 3.1(a). 
 “Purchaser” has the meaning set forth in the preamble hereto. 

“Related Collateral” means, with respect to any Loan Asset, the property identified in clauses (i)-(iii) below and all
accounts, cash and currency, chattel paper, tangible chattel paper, electronic chattel paper, copyrights, copyright licenses, equipment, fixtures, general intangibles, instruments, commercial tort claims, deposit accounts, inventory, investment
property, letter-of-credit rights, accessions, proceeds and other property consisting of, arising out of, or related to any of the following (in each case, excluding the
Retained Interest and Excluded Amounts): 
  

	 	i.	 all monies due, to become due or paid in respect of such Loan Asset, on and after the date hereof (other than
accrued and unpaid interest due with respect to the period prior to the date hereof), including but not limited to all collections on such Loan Asset, and other recoveries thereon, in each case as they arise after the date hereof;

  

	 	ii.	 all Related Property with respect to such Loan Asset; and 

 

	 	iii.	 all income and proceeds of the foregoing. 

“Repurchase” has the meaning set forth in Section 2.2(a). 

  
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 “Repurchase Price” has the meaning set forth in
Section 3.1 (c). 
 “Repurchase/Substitution Notice” has the meaning set forth in
Section 2.2(b). 
 “Retained Interest” means, with respect to any Loan Asset, (a) all of the
obligations, if any, of the agent(s) under the documentation evidencing such Loan Asset and (b) the applicable portion of the interests, rights and obligations under the documentation evidencing such Loan Asset that relate to such portion(s) of
the indebtedness and interest in other obligations that are owned by another lender. 
 “Seller” has the meaning set forth
in the preamble hereto. 
 “Substitute Loan Asset” has the meaning set forth in Section 2.2(a). 

“Substitution” has the meaning set forth in Section 2.2(a). 

“Substitution Value” has the meaning set forth in Section 3.1(b). 

“Transferred Asset” means each asset, including any Loan Asset and Substitute Loan Asset, Conveyed by the Seller to the
Purchaser hereunder, including with respect to each such asset, all Related Collateral; provided that the foregoing will exclude the Retained Interest and the Excluded Amounts. 

SECTION 1.2 Other Terms. All accounting terms not specifically defined herein shall be construed in accordance with generally
accepted accounting principles. All terms used in Article 9 of the UCC, and not specifically defined herein, are used herein as defined in such Article 9. 

SECTION 1.3 Computation of Time Periods. Unless otherwise stated in this Agreement, in the computation of a period of time from a
specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding.” 

SECTION 1.4 Interpretation. In this Agreement, unless a contrary intention appears: 

(i) reference to any Person includes such Person’s successors and assigns but, if applicable, only if such successors and
assigns are permitted by the Loan Documents; 
 (ii) reference to any gender includes each other gender; 

(iii) reference to day or days without further qualification means calendar days; 

(iv) unless otherwise stated, reference to any time means New York time; 

  
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 (v) references to “writing” include printing, typing, lithography,
electronic or other means of reproducing words in a visible form; 
 (vi) reference to any agreement (including any Loan
Document or underlying instrument), document or instrument means such agreement, document or instrument as amended, modified, supplemented, replaced, restated, waived or extended and in effect from time to time in accordance with the terms thereof
and, if applicable, the terms of the other Loan Documents, and reference to any promissory note includes any promissory note that is an extension or renewal thereof or a substitute or replacement therefor; 

(vii) reference to any requirement of law means such requirement of law as amended, modified, codified, replaced or reenacted,
in whole or in part, and in effect from time to time, including rules and regulations promulgated thereunder and reference to any Section or other provision of any requirement of law means that provision of such requirement of law from time to time
in effect and constituting the substantive amendment, modification, codification, replacement or reenactment of such Section or other provision; and 

(viii) references to “including” mean “including, without limitation”. 

SECTION 1.5 References. 

All Section references (including references to the Preamble), unless otherwise indicated, shall be to Sections (and the Preamble) in this
Agreement. 
 ARTICLE II 

CONVEYANCES OF TRANSFERRED ASSETS 

SECTION 2.1 Conveyances. 

(a) In the event the Purchaser agrees (in accordance with and subject to the requirements of the Credit Agreement) from time to time to
acquire one or more Loan Assets and Related Collateral from the Seller and the Seller agrees to Convey such Loan Assets and Related Collateral to the Purchaser, the Seller shall deliver written notice thereof to the Administrative Agent
substantially in the form set forth in Schedule B hereto (each, a “Purchase Notice”), designating the Conveyance Date and attaching a supplement to Schedule A identifying the Loan Assets proposed to be Conveyed
and the Purchase Price with respect to such Conveyance. On the terms and subject to the conditions set forth in this Agreement and the Credit Agreement, the Seller shall Convey to the Purchaser without recourse (except to the extent specifically
provided herein), and the Purchaser shall accept such Conveyance, on the applicable Conveyance Date, all of the Seller’s right, title and interest (whether now owned or hereafter acquired or arising, and wherever located) in and to each Loan
Asset then reported by the Seller on the Schedule A attached to the related Purchase Notice and the Related Collateral, together with all proceeds of the foregoing. For the avoidance of doubt, Schedule A, when delivered in accordance
with the terms hereof, shall automatically be deemed to update any previously delivered Schedule A without the need for action or consent on the part of any Person. 

  
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 (b) It is the express intent of the Seller and the Purchaser that each Conveyance of
Transferred Assets by the Seller to the Purchaser pursuant to this Agreement be construed as an absolute sale and/or contribution of such Transferred Assets by the Seller to the Purchaser providing Purchaser with the full risks and benefits of
ownership of the Transferred Assets. Further, it is not the intention of the Seller and the Purchaser that any Conveyance be deemed a grant of a security interest in the Transferred Assets by the Seller to the Purchaser to secure a debt or other
obligation of the Seller. However, to protect the Purchaser’s rights in the event that, notwithstanding the intent of the parties expressed herein, the Conveyances hereunder are characterized as secured financings and not as sales and/or
contributions, the Seller hereby grants to the Purchaser, a first priority security interest (subject only to Permitted Liens) in, to and under all of the Seller’s right, title and interest in, to and under, whether now owned or hereafter
acquired, such Transferred Assets and all proceeds of the foregoing to secure an obligation of the Seller to pay over and transfer to the Purchaser any and all distributions received by the Seller (other than Excluded Amounts) in relation to the
Transferred Assets from time to time, whether in cash or in kind, so that the Purchaser will receive all distributions under, proceeds of and benefits of ownership of the Transferred Assets and to secure all other obligations of the Seller
hereunder. If the Conveyances hereunder shall be characterized as secured financings and not as sales and/or contributions, the Purchaser and its assignees (including the Collateral Agent for the benefit of the Secured Parties) shall have, with
respect to such Transferred Assets and other related rights, in addition to all the other rights and remedies available to the Purchaser and its assignees (including the Collateral Agent for the benefit of the Secured Parties) hereunder and under
the underlying instruments, all the rights and remedies of a secured party under any applicable UCC. 
 (c) The Seller and the Purchaser
shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Transferred Assets to secure a debt or other obligation, such security
interest would be deemed to be a first priority perfected security interest in favor of the Purchaser under applicable law and will be maintained as such throughout the term of this Agreement. The Seller represents and warrants that the Transferred
Assets are being transferred with the intention of removing them from the Seller’s estate pursuant to Section 541 of the Bankruptcy Code. The Purchaser assumes all risk relating to nonpayment or failure by the obligors to make any
distributions owed by them under the Transferred Assets. Except with respect to the representations, warranties and covenants expressly stated in this Agreement, the Seller assigns each Transferred Asset “as is,” and makes no covenants,
representations or warranties regarding the Transferred Assets. 
 (d) In connection with this Agreement, the Seller agrees to file (or
cause to be filed) on or prior to the Closing Date, at its own expense, a financing statement or statements with respect to the Transferred Assets Conveyed by the Seller hereunder from time to time meeting the requirements of applicable state law in
the jurisdiction of the Seller’s organization to perfect and protect the interests of the Purchaser created hereby under the UCC against all creditors of, and purchasers from, the Seller, and to deliver a
file-stamped copy of such financing statements or other evidence of such filings to the Purchaser and the Administrative Agent as soon as reasonably practicable after its receipt thereof and to keep such
financing statements effective at all times during the term of this Agreement. 

  
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 (e) The Seller agrees that from time to time, at its expense, it will promptly execute and
deliver all instruments and documents and take all actions as may be reasonably necessary or as the Purchaser or the Administrative Agent may request, in order to perfect or protect the interest of the Purchaser in the Transferred Assets Conveyed
hereunder or to enable the Purchaser or its assignees (including the Collateral Agent for the benefit of the Secured Parties) to exercise or enforce any of its rights hereunder. Without limiting the foregoing, the Seller will, in order to accurately
reflect the Conveyances contemplated by this Agreement, execute and file such financing or continuation statements or amendments thereto or assignments thereof (as permitted pursuant hereto) or other documents or instruments as may be requested by
the Purchaser or the Administrative Agent and mark its records noting the Conveyance to the Purchaser of the Transferred Assets. The Seller hereby authorizes the Purchaser or the Administrative Agent to file and, to the fullest extent permitted by
applicable law the Purchaser or the Administrative Agent shall be permitted to sign (if necessary) and file, initial financing statements, continuation statements and amendments thereto and assignments thereof without further acts of the Seller;
provided that the description of collateral contained in such financing statements shall be limited to only Transferred Assets. Carbon, photographic or other reproduction of this Agreement or any financing statement shall be sufficient as a
financing statement. 
 (f) Each of the Seller and the Purchaser agree that prior to the time of Conveyance of any Loan Asset hereunder, the
Purchaser has no rights to or claim of benefit from any Loan Asset (or any interest therein) owned by the Seller. 
 (g) The Transferred
Assets acquired, transferred to and assumed by the Purchaser from the Seller shall include the Seller’s entitlement to any surplus or responsibility for any deficiency that, in either case, arises under, out of, in connection with, or as a
result of, the foreclosure upon or acceleration of any such Transferred Assets (other than Excluded Amounts). 
 SECTION 2.2
Repurchase or Substitution of Loan Assets. 
 (a) The Seller may (in accordance with and subject to the requirements of the Credit
Agreement) from time to time, in its sole discretion, either (i) repurchase a Loan Asset (each, a “Repurchase”) or (ii) substitute for such Loan Asset a Collateral Loan (each, a “Substitution” and such
Collateral Loan, a “Substitute Loan Asset”), in each case in accordance with and subject to the requirements of Section 10.1(a)(vii) of the Credit Agreement. 

(b) In connection with the Repurchase or Substitution of a Loan Asset, the Seller shall deliver written notice thereof to the Administrative
Agent substantially in the form set forth in Schedule C hereto (each, a “Repurchase/Substitution Notice”), designating the Conveyance Date and attaching a supplement to Schedule A identifying the Loan Assets
and, as applicable, the Substitute Loan Assets to be Conveyed and the Repurchase Price or Substitution Value, as applicable, with respect to such Conveyance. On the terms and subject to the conditions set forth in this Agreement and the Credit
Agreement, the Purchaser shall Convey to the Seller without recourse (except to the extent specifically provided herein), and the Seller shall accept such Conveyance, on the applicable Conveyance Date, all of the Purchaser’s right, title and
interest (whether now owned or hereafter acquired or arising, and wherever located) in and to each Loan Asset then reported by the Purchaser on the Schedule A attached to the related 

  
 -6- 

 
Repurchase/Substitution Notice, together with all Related Collateral and proceeds of the foregoing. In the case of a Substitution, Seller shall then Convey to the Purchaser without recourse
(except to the extent specifically provided herein), and the Purchaser shall accept such Conveyance, on the applicable Conveyance Date, all of the Seller’s right, title and interest (whether now owned or hereafter acquired or arising, and
wherever located) in and to each Substitute Loan Asset then reported by the Purchaser on the Schedule A attached to the related Repurchase/Substitution Notice, together with all Related Collateral and proceeds of the foregoing. For the
avoidance of doubt, Schedule A, when delivered in accordance with the terms hereof, shall automatically be deemed to update any previously delivered Schedule A without the need for action or consent on the part of any Person. Without
the need for a Purchase Notice, on the date hereof, the Purchaser agrees to acquire the Loan Assets set forth on Schedule A and the Related Collateral from the Seller and the Seller agrees to Convey such Loan Assets and Related Collateral to the
Purchaser for the applicable Purchase Prices set forth on Schedule A. 
 SECTION 2.3 Assignments. The Seller and the Purchaser
acknowledge and agree that, solely for administrative convenience, any transfer document or assignment agreement required to be executed and delivered in connection with the transfer of a Transferred Asset in accordance with the terms of the related
underlying instruments may reflect that (i) the Seller (or any Affiliate or third party from whom the Seller or the applicable Affiliate may purchase Transferred Assets) is assigning such Transferred Asset directly to the Purchaser or
(ii) the Purchaser is acquiring such Transferred Asset at the closing of such Transferred Asset. 
 SECTION 2.4 Actions Pending
Completion of Conveyance. 
 (a) Pending the receipt of any required consents to, and the effectiveness of, the sale of any Loan Assets
from the Seller to the Purchaser on the date hereof in accordance with the applicable underlying instrument, the Seller hereby sells to the Purchaser a 100% participation in such Loan Asset and its related right, title and interest (each, a
“Participation”). The Participations will not include any rights that are not permitted to be participated pursuant to the terms of the underlying instruments. Such sale of the Participations shall be without recourse to the Seller
(including with regard to collectability), except as otherwise expressly provided in the representations and warranties set forth in Article IV, and shall constitute an absolute sale of each such Participation. Each of the Participations has
the following characteristics: 
 (i) the Participation represents an undivided participating interest in 100% of the
underlying Loan Asset and its proceeds (including the Proceeds); 
 (ii) the Seller does not provide any guaranty of payments
to the Purchaser or other form of recourse (except as otherwise expressly provided in the representations and warranties set forth in Article IV) or credit support; 

(iii) the Participation represents a pass through of all of the payments made on the Loan Asset (including the Proceeds) and
will last for the same length of time as such Loan Asset except that each Participation will terminate automatically upon the settlement of the assignment of the underlying right, title and interest of the related Loan Asset from the Seller to the
Purchaser; and 

  
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 (iv) the Seller holds title in such participated Loan Assets for the benefit
of the Purchaser and shall exercise the same care in the administration of the participated Loan Assets as it would exercise for loans held for its own account. 

(b) Each party hereto shall use commercially reasonable efforts to, as soon as reasonably practicable after the Conveyance Date cause the
Purchaser to become a lender under the underlying instrument with respect to the Seller’s interest in each Transferred Asset and take such action as shall be mutually agreeable in connection therewith and in accordance with the terms and
conditions of the underlying instrument and consistent with the terms of this Agreement. 
 (c) Pending completion of the assignment of the
Seller’s interest in each Transferred Asset in accordance with the applicable underlying instruments, the Seller shall comply with any written instructions provided to the Seller by or on behalf of the Purchaser with respect to voting rights to
be exercised by holders of such Transferred Assets and shall refrain from taking any action with respect to the participated Loan Assets other than as instructed by the Purchaser, other than with respect to any voting rights that are not permitted
to be participated pursuant to the terms of the applicable underlying instrument (and such restrictions, requirements or prohibitions are hereby incorporated by reference as if set forth herein). 

SECTION 2.5 Indemnification. 

(a) The Seller hereby agrees to indemnify the Purchaser and its successors, transferees, and assigns (including each Secured Party) or any of
such Person’s respective shareholders, officers, employees, agents or Affiliates (each of the foregoing Persons being individually called an “Indemnified Party”) against, and hold each Indemnified Party harmless from, any and
all costs, losses, claims, damages, liabilities and related expenses (including the reasonable and documented out-of-pocket fees, charges and disbursements of any
outside counsel for any Indemnitee) (all of the foregoing being collectively called “Indemnified Amounts”) incurred by any Indemnified Party or awarded against any Indemnified Party in favor of any Person (including the Seller)
other than such Indemnified Party arising out of any material breach by the Seller of any of its obligations hereunder or arising as a result of the failure of any representation or warranty of the Seller herein to be true and correct in all
material respects or, if qualified as to materiality or Material Adverse Effect, in all respects, on the date such representation or warranty was made; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that
such Indemnified Amounts (i) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnified Party or its reckless disregard
of its duties hereunder or any Loan Document, (ii) result from a claim brought by the Seller against an Indemnified Party for breach in bad faith of such Indemnified Party’s obligations hereunder or under any other Loan Document, if the
Seller has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction, (iii) include any punitive, indirect, consequential, special damages, lost profits or other similar damages or
(iv) the uncollectability of any Loan Asset due to an Obligor’s failure to pay any amounts due under the applicable loan agreement in accordance with its terms. 

  
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 (b) If the Seller has made any payment pursuant to this
Section 2.5 and the recipient thereof later collects any payments from others (including insurance companies) in respect of such amounts or is found in a final and nonappealable judgment by a court of competent jurisdiction
not to be entitled to such indemnification, then the recipient agrees that it shall promptly repay to the Seller such amounts collected. 

(c) Any Indemnified Amounts shall be paid by the Seller to the Administrative Agent, for the benefit of the applicable Indemnified Party,
within two (2) Business Days following receipt by the Seller of the Administrative Agent’s written demand therefor (and the Administrative Agent shall pay such amounts to the applicable Indemnified Party promptly after the receipt by the
Administrative Agent of such amounts). 
 (d) The obligations of the Seller under this Section 2.5 shall survive
the resignation or removal of the Administrative Agent, the Lenders, the Collateral Agent, the Collateral Administrator, the Custodian or the Document Custodian, the invalidity or unenforceability of any term or provision of this Agreement or any
other Loan Document, any investigation made by or on behalf of the Administrative Agent, the Collateral Agent, any Lender, the Purchaser, the Collateral Administrator, the Custodian or the Document Custodian and the termination of this Agreement.

 SECTION 2.6 Assignment of Rights and Indemnities. The Seller acknowledges that, pursuant to the Credit Agreement, the
Purchaser shall assign all of its right, title and interest in, to and under this Agreement, including its rights of indemnity granted hereunder, to the Collateral Agent, for the benefit of the Secured Parties. Upon such assignment, (a) the
Collateral Agent, for the benefit of the Secured Parties, shall have all rights of the Purchaser hereunder and may in turn assign such rights, and (b) the obligations of the Seller under Section 2.5 and
Section 2.6 shall inure to the Collateral Agent, for the benefit of the Secured Parties. The Seller agrees that, upon such assignment, the Collateral Agent, for the benefit of the Secured Parties, may enforce directly,
without joinder of the Purchaser, the indemnities set forth in Section 2.5 and Section 2.6. 

ARTICLE III 

CONSIDERATION AND PAYMENT; REPORTING 

SECTION 3.1 Purchase Price, Substitution Value and Repurchase Price. 

(a) The purchase price (the “Purchase Price”) for each Loan Asset Conveyed on each Conveyance Date shall be a dollar amount
equal to the Market Value of such Loan Asset Conveyed as of such date. 
 (b) The substitution value (the “Substitution
Value”) for each Substitute Loan Asset Conveyed from the Seller to the Purchaser on each Conveyance Date shall be a dollar amount equal to the Market Value of such Substitute Loan Asset Conveyed as of such date. 

(c) The purchase price for each Repurchase (the “Repurchase Price”) shall be a dollar amount equal to the greater of the
Market Value and the Purchase Price of such Loan Asset paid by the Purchaser, less all Principal Proceeds received in respect of such Loan Asset from the original Conveyance Date to the Repurchase Conveyance Date plus any such
Principal Proceeds that the Purchaser shall have been required to repay to the Obligor with respect to such Loan Asset. 

  
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 SECTION 3.2 Payment of Purchase Price. 

(a) The Purchase Price, along with any fees from origination of the applicable Loan Asset, for the Transferred Assets Conveyed from the
Seller to the Purchaser shall be paid on the related Conveyance Date (a) by payment in cash in immediately available funds and/or (b) to the extent not paid in cash, as a capital contribution by the Seller to the Purchaser (a
“Contribution”); provided that the Transferred Assets contributed to the Purchaser as capital shall constitute Transferred Assets for all purposes of this Agreement. The applicable Purchase Notice shall specify the portions of the
Purchase Price to be paid in cash and as a contribution. 
 (b) The Repurchase Price for the Loan Assets Conveyed from the Purchaser to the
Seller in a Repurchase shall be paid on the related Conveyance Date (i) by payment in cash in immediately available funds and/or (ii) to the extent not paid in cash, in the form of a Substitution by the Seller to the Purchaser of a
Substitute Loan Asset with a Substitution Value greater than or equal to the portion of the Repurchase Price not paid in cash. The applicable Repurchase/Substitution Notice shall specify the portions of the Repurchase Price to be paid in cash and as
a Substitution. To the extent that the Substitution Value of a Substitute Loan Asset exceeds the Repurchase Price of the related Loan Assets, the Purchaser shall pay a cash purchase price to the Seller equal to the amount of such excess unless the
Seller elects in its sole discretion to designate such excess as a Contribution. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

SECTION 4.1 Seller’s Representations and Warranties. The Seller represents and warrants to the Purchaser as of
the Closing Date and as of each Conveyance Date: 
 (a) Existence, Qualification and Power. The Seller (i) is duly organized,
validly existing and in good standing under the laws of its jurisdiction of organization, (ii) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted,
to enter into the Loan Documents to which it is a party and to carry out the transactions contemplated thereby, and (iii) is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary
to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had, and could not be reasonably expected to have, a Material Adverse Effect. 

(b) Authorization; No Contravention. The execution, delivery and performance of the Seller and the consummation of the transactions
contemplated by this Agreement do not and will not (a) violate (1) any provision of any law or any governmental rule or regulation applicable to it, (2) any of its Constituent Documents, or (3) any order, judgment or decree of any
court or other agency of government binding on it or its properties (except where the violation could not reasonably be expected to have a Material Adverse Effect); (b) conflict with, result in a breach of or constitute (with due notice or lapse of
time or both) a default under any of its contractual 

  
 -10- 

 
obligations (except where the violation could not reasonably be expected to have a Material Adverse Effect); (c) result in or require the creation or imposition of any Lien upon any of its
properties or assets (other than any Liens created under any of the Loan Documents in favor of the Collateral Agent for the benefit of the Secured Parties); or (d) require any approval of stockholders, members or partners or any approval or
consent of any Person under any contractual obligation. 
 (c) Governmental Authorization; Other Consents. The execution, delivery
and performance by the Seller and the consummation of the transactions contemplated by this Agreement do not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental
Authority, except for filings and recordings with respect to the Collateral to be made by the Seller as of the Closing Date. 
 (d) No
Adverse Proceeding; Title. There is no litigation, proceeding or investigation pending or threatened against the Seller, before any Governmental Authority (i) asserting the invalidity of this Agreement or any other Loan Document to which
the Seller is a party, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any other Loan Document to which the Seller is a party or (iii) seeking any determination or ruling that would
reasonably be expected to have a Material Adverse Effect. The Seller is not (a) in violation of any applicable laws that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect or (b) subject to or
in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of any court or any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or
foreign, that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 (e) Good and
Marketable Title. The Seller owns and has good and marketable title to the Transferred Assets Conveyed to the Purchaser on the applicable Conveyance Date, which Transferred Assets were originated without any fraud or misrepresentation by the
Seller or, to the best of the Seller’s knowledge, on the part of the applicable Obligor, and free and clear of any Lien (other than the Liens in favor of the Purchaser and the Secured Parties pursuant to the Loan Documents and inchoate Liens
arising by operation of law, Permitted Liens or any Lien that will be released prior to or contemporaneously with the applicable Conveyance) and there are no financing statements naming the Seller as debtor and covering the Transferred Assets other
than any financing statements in favor of the Purchaser and the Collateral Agent for the benefit of the Secured Parties pursuant to the Loan Documents, Permitted Liens or any Lien that will be released prior to or contemporaneously with the
applicable Conveyance. 
 (f) Backup Security Interest. In the event that, notwithstanding the intent of the parties, the Conveyances
hereunder shall be characterized as loans and not as sales and/or contributions, then: 
 (i) this Agreement creates a valid
and continuing Lien on the Seller’s right, title and interest in and to the Transferred Assets in favor of the Purchaser and the Collateral Agent, as assignee, for the benefit of the Secured Parties, which security interest is validly perfected
under Article 9 of the UCC (to the extent such security interest may be perfected by filing a UCC financing statement under such article), and is enforceable as such against creditors of and purchasers from the Seller; 

  
 -11- 

 (ii) the Transferred Assets are comprised of interests in instruments,
security entitlements, general intangibles, accounts, certificated securities, uncertificated securities, securities accounts, deposit accounts, supporting obligations, insurance, investment property and proceeds (each as defined in the UCC) and
such other categories of collateral under the UCC as to which the Seller has complied with its obligations as set forth herein; 

(iii) the Seller has received all consents and approvals required by the terms of any Loan Asset to the sale and granting of a
security interest in the Loan Assets hereunder to the Purchaser and the Collateral Agent, as assignee on behalf of the Secured Parties; the Seller has taken all necessary steps to file or authorize the filing of all appropriate financing statements
in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in that portion of the Transferred Assets in which a security interest may be perfected by filing pursuant to Article 9 of
the UCC as in effect in Maryland; 
 (iv) none of the underlying promissory notes that constitute or evidence the Loan Assets
has any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Purchaser and the Collateral Agent, as assignee on behalf of the Secured Parties; and 

(v) with respect to a Transferred Asset that constitutes a “certificated security,” such certificated security has
been delivered to the Document Custodian, or will be delivered to the Document Custodian, for the benefit of the Collateral Agent and, if in registered form, has been specially Indorsed to the Collateral Agent or in blank by an effective Indorsement
or has been registered in the name of the Collateral Agent upon original issue or registration of transfer by the Seller of such certificated security, in each case, promptly upon receipt; provided that any file-stamped document, promissory note and certificates relating to any Loan Asset shall be delivered as soon as they are reasonably available; and in the case of an uncertificated security, by (A) causing the
Collateral Agent to become the registered owner of such uncertificated security and (B) causing such registration to remain effective. 

(g) Fair Consideration; No Avoidance for Loan Asset Payments. With respect to each Transferred Asset sold or contributed hereunder, the
Seller sold or contributed such Transferred Asset to the Purchaser in exchange for payment, made in accordance with the provisions of this Agreement, in an amount which constitutes fair consideration and reasonably equivalent value. Each such
Conveyance referred to in the preceding sentence shall not have been made for or on account of an antecedent debt owed by the Seller to the Purchaser and, accordingly, no such sale is or may be voidable or subject to avoidance under the Bankruptcy
Code and the rules and regulations thereunder. 

  
 -12- 

 (h) Adequate Capitalization; No Insolvency. As of such date it is, and after giving
effect to any Conveyance it will be, solvent and it is not entering into this Agreement or any other Loan Document or consummating any transaction contemplated hereby or thereby with any intent to hinder, delay or defraud any of its creditors. 

(i) True Sale or True Contribution. Each Transferred Asset sold or contributed hereunder shall have been sold or contributed by the
Seller to the Purchaser in a “true sale” or a “true contribution.” 
 (j) True and Complete Information. No
report, financial statement, certificate or other information (other than projections, forward-looking information, general economic data, industry information or information relating to third parties)
furnished in writing by the Seller to the Purchaser in connection with the transactions contemplated hereby or delivered hereunder (in each case, as modified or supplemented by other information so furnished) contains as of their date any material
misstatement of fact or omits to state any material fact necessary to make the statements therein, when taken as a whole in the light of the circumstances under which they were made, not misleading in any material respect, in each case as of the
date so furnished (or, in the case of certificates, notices, reports, financial statements or similar information or records, the stated date thereof); provided that solely with respect to written or electronic information furnished by the
Seller which was provided to the Seller from a third party, such information need only be true and correct in all material respects to the knowledge of the Seller. 

(k) Transferred Assets. The information contained in Schedule A is true, correct and complete in all material respects as of
each such Conveyance Date. 
 (l) Price of Loan Assets. The Purchase Price or Substitution Value, as applicable, for each Loan Asset
Conveyed hereunder represents the fair market value of such Loan Asset as of the time of Conveyance hereunder, as may have changed from the time after the applicable Loan Asset was originally acquired by the Seller. 

(m) Notice to Agents and Obligors. The Seller will direct any agent, administrative agent or obligor for any Loan Asset included in the
Transferred Assets to remit all payments and collections with respect to such Loan Asset directly to the subaccounts of the Collections Account titled “Interest Collection Account” (the “Interest Collection Subaccount”) or
“Principal Collection Account” (the “Principal Collection Subaccount”) as applicable. 
 (n) Proceeds. The
Seller acknowledges that all Collections received by it or its Affiliates with respect to the Transferred Assets (other than Excluded Amounts) (the “Proceeds”) Conveyed to the Purchaser are held and shall be held in trust for
the benefit of the Purchaser and its assignees until deposited into the Interest Collection Subaccount or the Principal Collection Subaccount. The Seller shall promptly, but in no event later than two (2) Business Days, remit to the Purchaser
or the Purchaser’s designee any payment or any other sums relating to, or otherwise payable on account of, the Transferred Assets (other than Excluded Amounts) that the Seller receives after the applicable Conveyance Date. 

  
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 (o) Collateral Loan. As of the applicable Conveyance Date, each Loan Asset is a
Collateral Loan; provided that no such representation is made (i) with respect to clauses (a)(ii) or (a)(iv) of the definition of “Collateral Loan” or (ii) regarding the knowledge of any Person other than the Seller. 

SECTION 4.2 Reaffirmation of Representations and Warranties by the Seller; Notice of Breach. On the Closing Date and
on each Conveyance Date, the Seller, by accepting the proceeds of the related Conveyance, shall be deemed to have certified that all representations and warranties described in Section 4.1 are true and correct in all
material respects on and as of such day as though made on and as of such day (or if specifically referring to an earlier date, as of such earlier date); provided that the representation made pursuant to Section 4.1(o) shall only be made as of
the relevant Conveyance Date for such Loan Asset. The representations and warranties set forth in Section 4.1 shall survive (i) the Conveyance of the Transferred Assets to the Purchaser, (ii) the
termination of the rights and obligations of the Purchaser and the Seller under this Agreement and (iii) the termination of the rights and obligations of the Purchaser under the Credit Agreement. Upon discovery by a Responsible Officer of the
Purchaser or the Seller of a breach of any of the foregoing representations and warranties in any material respect, the party discovering such breach shall give prompt written notice to the other and to the Administrative Agent. 

ARTICLE V 
 COVENANTS OF
THE SELLER 
 SECTION 5.1 Covenants of the Seller. The Seller hereby covenants and agrees with the Purchaser that, from the
date hereof until the termination of this Agreement, unless the Purchaser otherwise consents in writing: 
 (a) Deposit of
Collections. The Seller shall transfer, or cause to be transferred, all Collections (if any) it receives in respect of the Loan Assets (other than Excluded Amounts) to the Interest Collection Subaccount or the Principal Collection Subaccount by
the close of business on the second Business Day following the date such Collections are received by the Seller. 
 (b) Books and
Records. The Seller shall maintain proper books of record and account of the transactions contemplated hereby, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions
contemplated hereunder. 
 (c) Accounting of Purchases. Other than for consolidated accounting purposes, the Seller will not account
for or treat the transactions contemplated hereby in any manner other than as a sale or contribution of the Transferred Assets by the Seller to the Purchaser; provided that solely for federal income tax reporting purposes, the Purchaser is
treated as a “disregarded entity” and, therefore, the Conveyance of Transferred Assets by the Seller to the Purchaser hereunder will not be recognized. 

(d) Liens. The Seller shall not create, incur, assume or permit to exist any Lien on or with respect to any of its rights under any of
the Loan Documents or on or with respect to any of its rights in the Transferred Assets (other than the Liens in favor of the Purchaser and the Collateral Agent for the benefit of the Secured Parties pursuant to the Loan Documents, Permitted Liens
and any Lien that will be released prior to or contemporaneously with the applicable Conveyance). For the avoidance of doubt, this Section 5.1(d) shall not apply to any property retained by the Seller and not Conveyed or
purported to be Conveyed hereunder. 

  
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 (e) Change of Name, Etc. The Seller shall not change its name, or name under which it
does business, in any manner that would make any financing statement or continuation statement filed by the Seller or Purchaser pursuant hereto (or by the Administrative Agent on behalf of the Seller or Purchaser) or change its jurisdiction of
organization, unless the Seller shall have given the Purchaser and the Administrative Agent at least 30 days prior written notice thereof, and shall promptly file appropriate amendments to all previously filed financing statements and continuation
statements and, in the case of a change in jurisdiction, new financing statements. The Seller shall do or cause to be done, all things necessary to preserve and keep in full force and effect its existence, its material rights and its material
privileges, obligations, licenses and franchises for so long as any Participations remain outstanding pursuant to Section 2.4. 

(f) Sale Characterization. The Seller shall not make statements or disclosures, or treat the transactions contemplated by this
Agreement (other than for consolidated accounting purposes) in any manner other than as a true sale, contribution or absolute assignment of the title to and sole record and beneficial ownership interest of the Transferred Assets Conveyed or
purported to be Conveyed hereunder; provided that the Seller may consolidate the Purchaser and/or its properties and other assets for accounting purposes in accordance with GAAP if any consolidated financial statements of the Seller contain
footnotes that the Transferred Assets have been sold or contributed to the Purchaser. 
 (g) Expenses. The Seller shall pay its
operating expenses and liabilities from its own assets. 
 (h) Commingling. The Seller shall not, and shall not permit any of its
Affiliates to, deposit or permit the deposit of any funds that do not constitute Collections of any Loan Asset into the Interest Collection Subaccount or the Principal Collection Subaccount. 

(i) SPE Covenant. The Seller shall not take any action that would cause a violation of Section 5.18 of the Credit Agreement by the
Purchaser. 
 (j) Delivery of Documents. With respect to each Loan Asset Conveyed to the Purchaser hereunder, the Seller shall
deliver to or at the direction of the Purchaser all documents that the Purchaser, as borrower, is required to deliver with respect to such Loan Asset pursuant to Section 3.2(a) of the Credit Agreement not later than the Purchaser is obligated
to deliver such documents pursuant to such section. 
 SECTION 5.2 Covenant of the Purchaser. The Purchaser hereby covenants and
agrees with the Seller that, from the date hereof until the termination of this Agreement, unless the Seller otherwise consents in writing, the Purchaser shall comply with Section 9(j) of the Purchaser’s Amended and Restated Limited
Liability Company Agreement dated as of March 16, 2022. 

  
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 ARTICLE VI 

CONDITIONS PRECEDENT 

SECTION 6.1 Conditions Precedent. The obligations of the Purchaser to pay the Purchase Price for the Transferred Assets sold on
the Closing Date and any other Conveyance Date shall be subject to the satisfaction of the following conditions: 
 (a) All representations
and warranties of the Seller contained in this Agreement shall be (I) to the extent already qualified with respect to “material” matters or “Material Adverse Effect,” shall be true and correct on and as of such date and
(II) to the extent not already qualified with respect to “material” matters or “Material Adverse Effect”, shall be true and correct in all material respects on and as of such date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct (in all material respects or as so qualified, as applicable) as of such earlier date; 

(b) The Seller shall have performed in all material respects all other obligations required to be performed by it pursuant to the provisions
of this Agreement, the underlying instruments and the other Loan Documents to which it is a party as of such date; and 
 (c) All
organizational and legal proceedings, and all instruments in connection with the transactions contemplated by this Agreement and the other Loan Documents shall be reasonably satisfactory in form and substance to the Purchaser, and the Purchaser
shall have received from the Seller copies of all documents (including records of corporate proceedings) relevant to the transactions herein contemplated as the Purchaser may reasonably have requested. 

ARTICLE VII 

MISCELLANEOUS PROVISIONS 

SECTION 7.1 Amendments, Etc. This Agreement and the rights and obligations of the parties hereunder may not be amended,
supplemented, waived or otherwise modified except in an instrument in writing signed by the Purchaser and the Seller and consented to in writing by the Administrative Agent. Any reconveyance executed in accordance with the provisions hereof shall
not be considered an amendment or modification to this Agreement. 
 SECTION 7.2 Governing Law: Submission to Jurisdiction; Waiver of
Jury Trial. 
 (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING ANY CLAIMS SOUNDING IN CONTRACT LAW
OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

  
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 (b) SUBJECT TO CLAUSE (E) OF THE FOLLOWING SENTENCE, ALL JUDICIAL PROCEEDINGS BROUGHT
AGAINST ANY PARTY ARISING OUT OF OR RELATING HERETO, OR ANY OF THE OBLIGATIONS, SHALL BE BROUGHT IN ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, IN
ANY STATE COURT LOCATED IN THE CITY AND COUNTY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY (A) ACCEPTS GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE (SUBJECT
TO CLAUSE (E) BELOW) JURISDICTION AND VENUE OF SUCH COURTS; (B) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (C) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL,
RETURN RECEIPT REQUESTED, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 7.3; (D) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (C) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE PARTY IN ANY
SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (E) AGREES THAT THE AGENTS AND LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING
PROCEEDINGS AGAINST ANY PARTY IN THE COURTS OF ANY OTHER JURISDICTION IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY LOAN DOCUMENT OR AGAINST ANY COLLATERAL OR THE ENFORCEMENT OF ANY JUDGMENT, AND HEREBY SUBMITS TO THE JURISDICTION OF, AND
CONSENTS TO VENUE IN, ANY SUCH COURT. 
 (c) EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT OR THE PURCHASER/SELLER RELATIONSHIP THAT IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL
ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY
HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED
FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS
IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 7.2 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT
TO A TRIAL BY THE COURT. 

  
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 SECTION 7.3 Notices. All notices and other communications provided for hereunder
shall, unless otherwise stated herein, be in writing (including electronic communication) and shall be personally delivered or sent by certified or registered mail, return receipt requested, by overnight delivery service, with all charges paid, by
electronic mail (“e-mail”) or by hand delivery, to the intended party at the address of such party set forth below: 

(a) in the case of the Purchaser, as provided under the Credit Agreement; 

(b) in the case of the Seller, as provided under the Corporate Services Agreement; 

(in each case, with a copy to the Administrative Agent at the address for notice provided under the Credit Agreement). 

All such notices and correspondence shall be deemed given (a) if sent by certified or registered mail, three (3) Business Days after
being postmarked, (b) if sent by overnight delivery service or by hand delivery, when received at the above stated addresses or when delivery is refused and (c) if sent by e-mail, when received. 

SECTION 7.4 Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement
shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions, or terms shall be deemed severable from the remaining covenants, agreements, provisions, or terms of this Agreement and shall in no way affect the validity
or enforceability of the other provisions of this Agreement. 
 SECTION 7.5 Further Assurances. The Purchaser and the Seller each
agree that at any time and from time to time, at its expense and upon reasonable request of the Administrative Agent, it shall promptly execute and deliver all further instruments and documents, and take all reasonable further action, that is
necessary or desirable to perfect and protect the Conveyances and security interests granted or purported to be granted by this Agreement or to enable the Administrative Agent or any of the Secured Parties to exercise and enforce its rights and
remedies under this Agreement with respect to any Transferred Assets. 
 SECTION 7.6 No Waiver; Cumulative Remedies. No failure
to exercise and no delay in exercising, on the part of the Purchaser, the Seller or the Administrative Agent, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any right,
remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exhaustive of any
rights, remedies, powers and privilege provided by law. 

  
 -18- 

 SECTION 7.7 Counterparts. This Agreement may be executed in two or more
counterparts including telecopy transmission thereof (and by different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart
of a signature page to this Agreement by facsimile or e-mail in portable document format (.pdf) shall be effective as delivery of a manually executed counterpart of this Agreement. The parties agree that this
Agreement may be electronically signed and that such electronic signatures appearing on the Agreement are the same as handwritten signatures for purposes of validity, enforceability and admissibility. 

SECTION 7.8 Non-Petition. The Seller covenants and agrees that, prior to the date
that is one year (or, if longer, any applicable preference period) and one day after the payment in full of all Obligations (other than contingent reimbursement and indemnification obligations which are unknown, unmatured and for which no claim has
been made), no party hereto shall institute against, or join any other Person in instituting against, the Purchaser any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceedings under any federal,
state or foreign bankruptcy or similar law. This Section 7.8 shall survive termination of the Agreement 
 SECTION 7.9 Transfer
of Seller’s Interest. With respect to each transfer of a Transferred Asset on any Conveyance Date, (i) the Purchaser shall, as to each Transferred Asset, be a party to the relevant underlying instruments and have the
rights and obligations of a lender thereunder, and (ii) the Seller shall, to the extent provided in this Agreement, and the applicable underlying instruments, relinquish its rights and be released from its obligations, as to each Transferred
Asset. The obligors or agents on the Transferred Asset were or will be notified of the transfer of the Transferred Asset to the Purchaser to the extent required under the applicable underlying instruments. The Document Custodian will have possession
of the related underlying instrument (including the underlying promissory notes, if any). 
 SECTION 7.10 Binding Effect;
Third-Party Beneficiaries and Assignability. This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. The Collateral
Agent, for the benefit of the Secured Parties, and the Administrative Agent are each intended by the parties hereto to be an express third-party beneficiary of this Agreement. Notwithstanding anything to the
contrary contained herein, this Agreement may not be assigned by the Purchaser or the Seller without the prior written consent of the Administrative Agent. 

SECTION 7.11 Merger and Integration. Except as specifically stated otherwise herein, this Agreement and the other Loan Documents
set forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement and the other Loan Documents. 

SECTION 7.12 Headings. The headings herein are for purposes of reference only and shall not otherwise affect the meaning or
interpretation of any provision hereof. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 -19- 

 IN WITNESS WHEREOF, the Purchaser and the Seller each have caused this Sale and
Contribution Agreement to be duly executed by their respective officers as of the day and year first above written. 
  

			
	 OWL ROCK CORE INCOME CORP.,

as Seller

		
	By:	 	
                     
        

		 	Name: Bryan Cole
		 	Title: Chief Financial Officer, Chief Accounting Officer and Treasurer
	
	CORE INCOME FUNDING IV LLC, as Purchaser
		
	By:	 	
                     
            

		 	Name: Bryan Cole
		 	Title: Authorized Signatory

 [Signature Page to Sale and Contribution Agreement] 

 Schedule A 

SCHEDULE OF LOAN ASSETS 

[see attached] 

 Schedule B 

FORM OF PURCHASE NOTICE 

[Date] 
  

	To:	 Sumitomo Mitsui Banking Corporation, as Administrative Agent 

277 Park Avenue 
 New York, New
York 10172 
 Attention: Jason Hare 

Facsimile No.: 212-224-5198 

Email: Jason_Hare@smbcgroup.com 
  

	Re:	 Purchase Notice for Conveyance Date of
[                ] (the “Conveyance Date”) 

Ladies and Gentlemen: 
 This Purchase Notice is
delivered to you pursuant to Section 2.1(a) of the Sale and Contribution Agreement, dated as of March 16, 2022 (together with all amendments, if any, from time to time made thereto, the “Sale
Agreement”), between Core Income Funding IV LLC, as purchaser (the “Purchaser”), and Owl Rock Core Income Corp., as seller (the “Seller”). Unless otherwise defined herein or the context otherwise requires,
capitalized terms used herein have the meanings provided in the Sale Agreement. 
 In accordance with Section 2.1(a)
of the Sale Agreement, effective as of the Conveyance Date, the Seller hereby Conveys to the Purchaser [as a sale for cash for a Purchase Price of $     ] [and] [as a Contribution in the amount of
$     ] on the above-referenced Conveyance Date pursuant to the terms and conditions of the Sale Agreement the Loan Assets listed on Schedule A hereto, together with all
Related Collateral and proceeds of the foregoing. 
 Please wire the cash portion of the Purchase Price to the Seller pursuant to the wiring
instructions included in Attachment 1 of this letter. 
 The Seller certifies that the conditions described in
Section 6.1 of the Sale Agreement have been satisfied with respect to such Conveyance. 
 The Seller agrees that
if prior to the Conveyance Date any matter certified to herein by it will not be true and correct in all material respects at such time as if then made, it will promptly so notify the Purchaser and the Administrative Agent. Except to the extent, if
any, that prior to the Conveyance Date the Purchaser shall receive written notice to the contrary from the Seller, each matter certified to herein shall be deemed once again to be certified by the Seller as true and correct in all material respects
at the Conveyance Date as if then made. 

 The Seller has caused this Purchase Notice to be executed and delivered, and the
certification and warranties contained herein to be made, by its duly authorized officer as of the date first written above. 
  

			
	Very truly yours,
	
	OWL ROCK CORE INCOME CORP.
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  

			
	Accepted and Agreed
	
	CORE INCOME FUNDING IV LLC
		
	By:	 	
                     
            

		 	Name:
		 	Title:

 Attachment 1 

Wire Instructions 
 Bank: 

ABA: 
 Name: 

Number: 
 For further credit to account: 

 Schedule A 

SCHEDULE OF LOAN ASSETS 

[see attached] 

 Schedule C 

FORM OF REPURCHASE/SUBSTITUTION NOTICE 

[Date] 
 To: Sumitomo Mitsui Banking Corporation,
as Administrative Agent 
 277 Park Avenue 

New York, New York 10172 

Attention: Jason Hare 
 Facsimile
No.: 212-224-5198 
 Email: Jason_Hare@smbcgroup.com 

Re: Repurchase/Substitution Notice for Conveyance Date of [    ] (the “Conveyance Date”) 

Ladies and Gentlemen: 
 This
Repurchase/Substitution Notice is delivered to you pursuant to Section 2.2(b) of the Sale and Contribution Agreement, dated as of March 16, 2022 (together with all amendments, if any, from time to time made thereto,
the “Sale Agreement”), between Core Income Funding IV LLC, as purchaser (the “Purchaser”), and Owl Rock Core Income Corp., as seller (the “Seller”). Unless otherwise defined herein or the context
otherwise requires, capitalized terms used herein have the meanings provided in the Sale Agreement. 
 [On the above-referenced Conveyance Date, in accordance with Section 2.2 of the Sale Agreement (and pursuant to the terms and conditions thereof), the Purchaser hereby Conveys to the Seller as a
Repurchase for cash, the Loan Asset(s) listed on Schedule A hereto, together with all Related Collateral and proceeds of the foregoing, for a Repurchase Price of $______.] 

[On the above-referenced Conveyance Date, in accordance with Section 2.2 of
the Sale Agreement (and pursuant to the terms and conditions thereof), the Purchaser hereby Conveys to the Purchaser as a Substitution, the Loan Asset(s) listed on Schedule A hereto, together with all Related Collateral and proceeds of the
foregoing, for a Repurchase Price of $______ to be paid according to the following: 
 1. [the Substitute Loan Asset(s) listed on Schedule A
hereto having a Substitution Value of $______;] [and] 
 2. [$______ in immediately available funds] [and] 

3. [a Contribution of $______].] 

The Seller certifies that the conditions described in Section 6.1 of the Sale Agreement have been satisfied with
respect to such Conveyance. 

 The Seller agrees that if prior to the Conveyance Date any matter certified to herein by it
will not be true and correct in all material respects at such time as if then made, it will promptly so notify the Purchaser and the Administrative Agent. Except to the extent, if any, that prior to the Conveyance Date the Purchaser shall receive
written notice to the contrary from the Seller, each matter certified to herein shall be deemed once again to be certified by the Seller as true and correct in all material respects at the Conveyance Date as if then made. 

 The Seller has caused this Repurchase/Substitution Notice to be executed and delivered, and
the certification and warranties contained herein to be made, by its duly authorized officer as of the date first written above. 
  

			
	Very truly yours,
	OWL ROCK CORE INCOME CORP.
	By:	 	
                     
                

		 	Name:
		 	Title:

  

			
	 Accepted and Agreed

	  
 CORE INCOME
FUNDING IV LLC

	 By:
	 	
              
                       

		 	 Name:

		 	 Title:

 Attachment 1 

Wire Instructions 
 Bank: 

ABA: 
 Name: 

Number: 
 For further credit to account: 

 Schedule A 

SCHEDULE OF LOAN ASSETS 

[see attached]EX-10.1

 Exhibit 10.1 

THIS PROMISSORY NOTE (THIS “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE
HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 
 PROMISSORY NOTE 

 

			
	 Principal Amount: Up to $1,500,000
	  	Dated as of March 15, 2022

 CHP Merger Corp., a Delaware corporation and blank check company (the “Maker”), promises to
pay to the order of CHP Acquisition Holdings, LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the “Payee”), or order, the principal sum of one million and five hundred thousand
($1,500,000) or such lesser amount as shall have been advanced by Payee to Maker prior to the closing of the Business Combination (as defined below) for working capital needs of Maker (each such advance as evidenced on Schedule I hereto,
which shall be updated to reflect any future advances under this Promissory Note after the date hereof), and shall remain unpaid under this Note at the closing of the Business Combination, in lawful money of the United States of America, on the
terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written
notice in accordance with the provisions of this Note. 
 1. Principal. The entire unpaid outstanding principal balance of this Note
shall be repayable on the consummation of the Maker’s merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”).
Payee understands that if a Business Combination is not consummated, this Note will not be repaid and all amounts owed hereunder will be forgiven except to the extent that the Maker has funds available to it outside of its trust account established
in connection with its initial public offering (the “IPO”). Under no circumstances shall any individual, including but not limited to any officer, director employee or stockholder of the Maker, be obligated personally for any
obligations or liabilities of the Maker hereunder. 
 2. Interest and Expenses. No interest shall accrue on the unpaid outstanding
principal balance of this Note. Maker will reimburse Payee for all costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorneys’ fees. 

3. Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum
due under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note. 

4. Events of Default. The following shall constitute an event of default (“Event of Default”): 

(a) Failure to Make Required Payments. Failure by Maker to pay the outstanding principal amount due pursuant to this Note within five
(5) business days following the date when due. 
 (b) Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case
under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar
official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by
Maker in furtherance of any of the foregoing. 
 (c) Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a
court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar
official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of
60 consecutive days. 
 5. Remedies. 

(a) Upon the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to Maker, declare this Note
to be due immediately and payable, whereupon the unpaid outstanding principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind,
all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding. 

(b) Upon the occurrence of an Event of Default specified in Sections 4(b) or 4(c), the unpaid outstanding principal balance of this Note, and
all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee. 

(c) Late payments shall accrue interest at a rate of 8% per annum, or such lesser rate as is permissible by law. 

6. Conversion. Upon the consummation of a Business Combination, the Payee shall have the option, but not the obligation, to convert the
principal balance of this Note, in whole or in part at the option of the Payee, into warrants (“Warrants”) of the Maker at a price of $1.00 per Warrant, each Warrant being identical to a “private placement warrant” (as
defined in the Maker’s final prospectus in connection with the Maker’s initial public offering of units (the “IPO”)). As promptly after notice by Payee to Maker to convert the principal balance of this Note, which must be
made at least 24 hours prior to the consummation of the Business Combination, as reasonably practicable and after Payee’s surrender of this Note, Maker shall have issued and delivered to Payee, without any charge to Payee, in book-entry form or
a certificate or certificates (issued in the name(s) requested by Payee) for the number of Warrants of Maker issuable upon the conversion of this Note. 

 7. Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note
waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might
accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of
execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any
such writ in whole or in part in any order desired by Payee. 
 8. Unconditional Liability. Maker hereby waives all notices in
connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any
manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the
payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder. 

9. Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in
writing and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided
to such party or such other address or fax number as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be
designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by
facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail. 

10. Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO
CONFLICT OF LAW PROVISIONS THEREOF. 
 11. Severability. Any provision contained in this Note which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 12. Trust Waiver. Notwithstanding anything herein to
the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust account to be established in which the proceeds of the IPO conducted by the Maker
(including the deferred underwriters discounts and commissions) and the proceeds of the sale of the warrants issued in a private placement to occur prior to the consummation of the IPO are to be deposited, as described in greater detail in the
registration statement and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any
reason whatsoever. 
 13. Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with,
the written consent of the Maker and the Payee. 
 14. Assignment. No assignment or transfer of this Note or any rights or
obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void. 

[Signature page follows] 

 IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note
to be duly executed by the undersigned as of the day and year first above written. 
  

			
	 CHP MERGER CORP.,

a Delaware corporation

		
	 By:
	 	 /s/ James T. Olsen

		 	 Name: James T. Olsen

		 	 Title: Chief Executive Officer and Director

 Accepted and agreed the 15th day of March, 2022 

 

			
	 CHP ACQUISITION HOLDINGS, LLC,

a Delaware limited liability company

		
	 By:
	 	 /s/ James T. Olsen

		 	 Name: James T. Olsen

		 	 Title: President

 [Signature Page to Promissory Note] 

 Schedule I 

Schedule of Advances (as of March 15, 2022) 
  

					
	 Date of Advance
	  	Amount
Advanced
from Payee	 
	 December 31, 2021
	  	$	535,000.00	 
	 February 10, 2022
	  	$	200,000.00	 
	 March 4, 2022
	  	$	125,000.00	 
		  	  
	  
	 
	 Total Amount Advanced
	  	$	 860,000.00

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