Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
  

FACILITY AGREEMENT 
 dated as of

 November 2, 2020 

between 
 BLACKSTONE PRIVATE
CREDIT FUND 
 and 
 GOLDMAN
SACHS BANK USA 
  
  

 

 Table of Contents 

 

					
	 ARTICLE I
	  	 	1	 
		
	 ARTICLE II
	  			
		
	 THE PORTFOLIO INVESTMENTS
	  	 	10	 
		
	 SECTION 2.01. Purchases of Portfolio Investments
	  	 	10	 
	 SECTION 2.02. Procedures for Purchases
	  	 	10	 
	 SECTION 2.03. Conditions to Purchases
	  	 	10	 
	 SECTION 2.04. Sales of Portfolio Investments
	  	 	11	 
	 SECTION 2.05. Voting of Portfolio Investments
	  	 	11	 
	 SECTION 2.06. Documentation, Reports, etc.
	  	 	12	 
	 SECTION 2.07. Accelerated Sale Events
	  	 	12	 
	 SECTION 2.08. Principal and Interest Proceeds
	  	 	12	 
		
	 ARTICLE III
	  			
		
	 FACILITY SALES
	  	 	12	 
		
	 SECTION 3.01. Facility Sales
	  	 	12	 
	 SECTION 3.02. Documentation
	  	 	12	 
	 SECTION 3.03. Received Payment Amount
	  	 	13	 
		
	 ARTICLE IV
	  			
		
	 FACILITY PAYMENTS
	  	 	13	 
		
	 SECTION 4.01. Facility Fees; Unused Fees; Breakage
	  	 	13	 
	 SECTION 4.02. Expenses; Portfolio Investment Sale Losses
	  	 	14	 
	 SECTION 4.03. Payments Generally; Default Interest; Right of
Set-off
	  	 	14	 
		
	 ARTICLE V
	  			
		
	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	15	 
		
	 SECTION 5.01. Representations and Warranties
	  	 	15	 
		
	 ARTICLE VI
	  			
		
	 EVENTS OF DEFAULT
	  	 	16	 
		
	 ARTICLE VII
	  			
		
	 MISCELLANEOUS
	  	 	18	 
		
	 SECTION 7.01. Notices
	  	 	18	 
	 SECTION 7.02. No Waiver
	  	 	18	 
	 SECTION 7.03. Indemnity; Damage Waiver
	  	 	18	 
	 SECTION 7.04. Amendments
	  	 	19	 
	 SECTION 7.05. Successors; Assignments
	  	 	19	 
	 SECTION 7.06. Governing Law; Submission to Jurisdiction; Etc.
	  	 	19	 
	 SECTION 7.07. Counterparts
	  	 	20	 
	 SECTION 7.08. Headings
	  	 	20	 

			
	Schedules	  	
		
	Schedule 1	  	Form of Purchase Request
		
	Schedule 2	  	Terms of Distressed Facility Sale Confirmation
	Schedule 3	  	Terms of Par/Near Par Facility Sale Confirmation
		
	Exhibit	  	
		
	Exhibit A	  	Form of Distressed Facility Sale Confirmation
	Exhibit B	  	Form of Par/Near Par Facility Sale Confirmation

  
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 FACILITY AGREEMENT (this “Agreement”) dated as of November 2,
2020 (the “Closing Date”) between BLACKSTONE PRIVATE CREDIT FUND (the “Company”); and GOLDMAN SACHS BANK USA (the “Financing Provider”). 

Accordingly, the parties hereto agree as follows: 

ARTICLE I 
 Defined Terms. When used
herein, the following terms shall have the following meanings: 
 “Accelerated Sale Date” means, with respect to any Portfolio Investment:

 (a) in respect of an Accelerated Sale Event pursuant to clause (a) of the definition thereof, the date of such event; 

(b) in respect of an Accelerated Sale Event pursuant to clause (b) of the definition thereof, the fifth
(5th) Business Day after the date on which the Company provides notice of such event to the Financing Provider; and 

(c) in respect of an Accelerated Sale Event pursuant to any clause other than (a) or (b) of the definition thereof, the fifth (5th) Business Day after the date on which the Financing Provider provides written notice of such event to the Company. 

“Accelerated Sale Event” means, with respect to any Portfolio Investment, the occurrence of any of the following: 

(a) a Facility Acceleration Event; 
 (b) an election by the
Company to declare an Accelerated Sale Event pursuant to Section 2.04 or 2.07(b); 
 (c) an event of default that has occurred and is continuing under
the Underlying Documentation for such Portfolio Investment; 
 (d) a Conversion Event in respect of such Portfolio Investment; 

(e) an Adverse Claim Event in respect of such Portfolio Investment; 

(f) an Illegality Event in respect of such Portfolio Investment; or 

(g) such Portfolio Investment becomes an Ineligible Investment. 

“Additional Funded Amount” means, with respect to any Portfolio Investment, an amount equal to (i) the aggregate principal amount of
loans funded by the Financing Provider after the Relevant Settlement Date to satisfy its delayed draw funding obligations in respect of such Portfolio Investment minus (ii) the amount of “original issue discount” (if any)
applicable to such funding minus (iii) the amount of any fees and expenses (excluding if taken in the form of “original issue discount”) netted from such funding. 

 “Adverse Claim Event” means, with respect to any Portfolio Investment, (a) the
existence of any lien, claim, security interest or other encumbrance ranking, in whole or in part, in priority to the Financing Provider’s interest in and to such Portfolio Investment (other than any lien, claim, security interest or
encumbrance (i) created by the Financing Provider, (ii) in favor of any creditor or other person on account of any obligations of the Financing Provider or any of its Affiliates or (iii) which arises pursuant to, or which is permitted
under, the terms of the relevant credit documentation) or (b) the commencement of any legal proceedings against the Financing Provider by any person on account of an obligation owed to such Person by the Company (and, for the avoidance of
doubt, not any creditor or other person on account of any obligations of the Financing Provider or any of its Affiliates) in respect of any claim respecting the Financing Provider’s ownership of such Portfolio Investment which, if such claim
were to be upheld by a court having the requisite jurisdiction, would impugn, negate or subordinate, in whole or in part, the Financing Provider’s legal and beneficial ownership of such Portfolio Investment or which would subject or
subordinate, in whole or in part, the Financing Provider’s ownership of such Portfolio Investment to any lien, claim, security interest or encumbrance in favor of any other party. 

“Affiliate” shall mean, as to any Person, any other Person which, directly or indirectly, is in control of, is controlled by, or is under
common control with, such Person. For purposes of this definition, a Person (a “Controlled Person”) shall be deemed to be “controlled by” another Person (a “Controlling Person”) if the Controlling Person
possesses, directly or indirectly, power to direct or cause the direction of the management and policies of the Controlled Person whether by contract or otherwise. Anything herein to the contrary notwithstanding, the term “Affiliate” shall
not include any Person that constitutes an Portfolio Investment held by the Company or any of its Affiliates in the ordinary course of business. 

“Aggregate Received Interest Amount” means, on any date, an amount equal to the sum of all Received Interest Amounts received by the
Financing Provider during the period beginning on (and including) the most recently occurring Payment Date (or, on any date prior to the first Payment Date, the Closing Date) and ending on (and excluding) such date. 

“Agreement” has the meaning set forth in the introductory paragraph. 

“Applicable Margin” means a rate per annum equal to 1.70%. 

“Applicable Purchaser” means, on any date, (a) if the Capital Condition is not satisfied on such date, the Initial Purchaser, and
(b) if the Capital Condition is satisfied on such date, the Company. 
 “Average Financing Amount” means, with respect to any Facility
Fee Period, the sum of the Financing Amount on each day in that period divided by the actual number of days in that period. 
 “Average
Unused Amount” means, with respect to any Facility Fee Period, the sum of the Unused Amount on each day in that period divided by the actual number of days in that period. 

“Business Day” means any day on which commercial banks and foreign exchange markets settle payments in New York City. 

“Capital Condition” means a condition that shall be satisfied on and after the date on which the Company receives aggregate subscriptions of
$400,000,000 or greater deposited from escrow into its custody account. 

  
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 “Closing Date” has the meaning set forth in the introductory paragraph. 

“Commitment Amount” means on any date (a) prior to January 1, 2021, $200,000,000, (b) on or after January 1, 2021 and prior to
the Facility End Date, $300,000,000 and (c) on or after the Facility End Date, zero. 
 “Company” has the meaning set forth in the
introductory paragraph. 
 “Company Parties” means the Company and the Guarantors. 

“Conversion Event” means, with respect to any Portfolio Investment: 

(a) such Portfolio Investment is restructured by way of an amendment or modification to the Underlying Documents after such Portfolio Investment was approved
by the Financing Provider in any way such that the Portfolio Investment ceases to be, in the reasonable determination of the Financing Provider, a First Lien Loan or Second Lien Loan (as applicable based on the characterization of such Portfolio
Investment immediately prior to such restructuring); or 
 (b) the principal amount of such Portfolio Investment is, by way of an amendment or modification
to the Underlying Documents after such Portfolio Investment was approved by the Financing Provider , converted into any non-cash assets or securities (whether of the relevant obligor or any other entity or
person), including options, warrants and income trust units or depository receipts representing such securities, irrespective of whether the Financing Provider may have consented to such conversion. 

“Daily Holiday Amount” means, on any date, an amount equal to the sum, for each Portfolio Refusal occurring on such date, of the product of
(i) the Requested Amount in respect of the rejected Portfolio Investment multiplied by (ii) the lesser of (a) the Initial Purchase Percentage specified in the related Purchase Request Form and (b) 100%. 

“Default” means any event that, with notice or lapse of time or both, would constitute an Event of Default. 

“Default Sale” has the meaning set forth in Section 7.02(a)(iv). 

“Designated Assignee” has the meaning set forth in Section 3.01. 

“Distressed Facility Sale Confirmation” means the LSTA Distressed Trade Confirmation attached as Exhibit A hereto. 

“Distressed Loan” means a loan, the purchase and sale of which would, in accordance with market convention in effect as of the date of
determination, as determined by the Financing Provider in its reasonable discretion, settle on distressed documents rather than par documents; provided that with respect to any loan which trades in the U.S. secondary loan market, if the
LSTA has conducted a shift poll in respect of whether the market has shifted to utilizing distressed documents for purposes of settling trades in the relevant loan, the determination of such shift poll shall be determinative of whether such loan
constitutes a Distressed Loan. 
 “Eligibility Criteria” means, with respect to any loan obligation or Portfolio Investment, such loan
obligation or Portfolio Investment, as applicable, (a) is a First Lien Loan or Second Lien Loan or (b) otherwise satisfies such criteria as mutually agreed upon in writing by the Financing Provider and the Company on or prior to the
related Purchased Request being made. 

  
 - 3 - 

 “Eligible Reference Loan” means a loan obligation that satisfies the Eligibility Criteria.

 “Event of Default” has the meaning set forth in Section 7.01. 

“Facility Acceleration Event” means (a) the occurrence of any Event of Default set forth in Section 7.01(d) or (e); or (b) the
Financing Provider electing to declare a Facility Acceleration Event pursuant to Section 7.01 following the occurrence and during the continuance of any other Event of Default. 

“Facility Documents” means this Agreement and the Facility Guaranty. 

“Facility End Date” means June 30, 2021. 

“Facility Fee” has the meaning set forth in Section 4.01(a). 

“Facility Fee Amount” means, with respect to any Facility Fee Period, an amount equal to the product of: 

(a) the Average Financing Amount for such Facility Fee Period; 

(b) the Facility Fee Rate for such Facility Fee Period; and 
 (c)
the actual number of days in such Facility Fee Period divided by 360. 
 “Facility Fee Period” means the period from, and including,
the previous Facility Fee Period End Date to, but excluding, the next occurring Facility Fee Period End Date, provided that: 
 (a) the initial
Facility Fee Period shall begin on (and include) the Closing Date; and 
 (b) the final Facility Fee Period shall end on (but exclude) the Termination Date.

 “Facility Fee Period End Date” means (a) the 10th calendar day of January,
April, July and October until the Termination Date, beginning January 10, 2020, (b) the Facility End Date and (c) the Termination Date. 

“Facility Fee Rate” means, with respect to any Facility Fee Period, a per annum rate equal to the sum of (a) the LIBOR Rate in respect
of such Facility Fee Period and (b) the Applicable Margin. 
 “Facility Guaranty” means that certain Guarantee Agreement entered into
on the Closing Date by and among the Guarantors and the Financing Provider. 
 “Facility Payment Amount” means, with respect to any Payment
Date, an amount equal to (a) the Facility Fee Amount in respect of the most recently ended Facility Fee Period plus (b) the Unused Fee Amount in respect of the most recently ended Facility Fee Period minus (c) the
Aggregate Received Interest Amount as of such Payment Date. 
 “Facility Purchase Price” means, with respect to a Portfolio Investment and
a Facility Sale Transaction, the percentage equal to: 
 (a) (i) the Initial Value plus (ii) the Additional Funded Amount minus
(iii) the Principal Repayment Amount; divided by 
 (b) the Outstanding Principal Amount. 

  
 - 4 - 

 “Facility Sale Date” means, with respect to any Portfolio Investment, the date on which the
Company and the Financing Provider are deemed to enter into a Facility Sale Transaction in respect of such Portfolio Investment pursuant to which the Financing Provider will sell such Portfolio Investment to the Company on the terms set forth
herein, which date shall be the earlier to occur of (a) the Accelerated Sale Date (if any) in respect of such Portfolio Investment and (b) five (5) Business Days prior to the Facility End Date. 

“Facility Sale Settlement Date” means, with respect to any Portfolio Investment, the date on which settlement occurs under the applicable
Trade Confirmation governing the terms of the Facility Sale Transaction in respect of such Portfolio Investment. 
 “Facility Sale
Transaction” means a binding transaction entered into between the Financing Provider and the Company pursuant to which the Company agrees to buy from the Financing Provider, and the Financing Provider agrees to sell to the Company, the
relevant Portfolio Investment on and in accordance with the terms set forth in this Agreement. 
 “Failed Settlement Obligations” has the
meaning set forth in Section 4.02(a)(3). 
 “Financing Amount” means, on any date of determination, an amount equal to the sum of the
Relevant Principal Amount for each Portfolio Investment. 
 “Financing Provider” has the meaning set forth in the introductory paragraph.

 “First Lien Loan” means a non-revolving, senior secured term loan, including any delayed draw
term loan, documented by way of a loan or credit agreement which trades as a “first lien loan” as determined by the Financing Provider under then-current trading practices in the primary or secondary loan market, as the case may be and
which is not a Distressed Loan. 
 “Fitch” shall mean Fitch Ratings, Inc., also known as Fitch Ratings, and its successors. 

“Governmental Authority” means any federal, state, municipal, national or other government, governmental department, commission, board,
bureau, court, agency or instrumentality or political subdivision thereof or any entity, officer or examiner exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any court, in each
case whether associated with a state of the United States, the United States, the United Kingdom, the European Union or any other foreign entity or government (including any successor to any of the foregoing). 

“Governmental Authorization” means any permit, license, authorization, plan, directive, consent order or consent decree of or from any
Governmental Authority. 
 “Guarantors” means Blackstone Holdings Finance Co. L.L.C., Blackstone Holdings I L.P., Blackstone Holdings AI
L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. 
 “Illegality Event” means, with respect
to any Portfolio Investment and not as a result of any action or inaction of the Financing Provider or any of its affiliates, the determination by the Financing Provider (in its reasonable discretion) that due to the adoption of or any change in any
applicable law or regulation (or the generally accepted interpretation thereof) or the issuance of any order, judgment, ruling, administrative guideline or policy of or by any Governmental Authority of competent jurisdiction, it is illegal or
unlawful, or there is a substantial likelihood that it will become illegal or unlawful, for the Financing Provider to maintain ownership or dispose of such Portfolio Investment. 

  
 - 5 - 

 “Indebtedness” of any Person shall mean, without duplication, (a) all obligations of
such Person for borrowed money (including in connection with deposits or advances), (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or
other title retention agreements relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current accrued expenses incurred and current
accounts payable, in each case in the ordinary course of business), (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any lien on property
owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (f) all guarantees by such Person of Indebtedness of others, (g) all obligations required to be accounted for as a finance or capital lease
(and not an operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP, (h) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of
credit and letters of guaranty and (i) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness
provide that such Person is not liable therefor. Notwithstanding the foregoing “Indebtedness” shall not include (v) indebtedness of such Person on account of the sale by such Person of the first out tranche of any first lien loan that
arises solely as an accounting matter under ASC 860, (w) purchase price holdbacks arising in the ordinary course of business in respect of a portion of the purchase price of an asset or investment to satisfy unperformed obligations of the
seller of such asset or investment, (x) a commitment arising in the ordinary course of business to make a future portfolio investment (including Portfolio Investments) or fund the delayed draw or unfunded portion of any existing portfolio
investment (including Portfolio Investments), (y) any accrued incentive, management or other fees to an investment manager or its affiliates (regardless of any deferral in payment thereof), or
(z) non-recourse liabilities for participations sold by any person in any loan. 
 “Ineligibility Sale
Settlement Date” means, with respect to any Portfolio Investment, the later to occur of (a) the settlement of the sale by the Financing Provider of such Portfolio Investment pursuant to clause (ii) or (iii) of Section 2.04
and (b) the date on which the Company has paid the Sale Loss Amount (if any) to the Financing Provider in accordance with Section 4.02(b). 

“Ineligible Investment” means any Portfolio Investment that fails, at any time, to satisfy the Eligibility Criteria. 

“Initial Principal Amount” means, with respect to any Portfolio Investment, (a) if such Portfolio Investment is a Primary Market
Investment, the aggregate par principal amount of such Portfolio Investment loans (for the avoidance of doubt, without giving effect to any “original issue discount” in respect thereof) made by the Financing Provider on the Relevant
Settlement Date in respect thereof and otherwise (b) the “Purchase Amount” specified in the Relevant Trade Confirmation. 
 “Initial
Purchase Percentage” means, with respect to any Portfolio Investment, (a) if such Portfolio Investment is a Primary Market Investment, a percentage equal to 100% minus the sum, expressed as a percentage of the Initial Principal
Amount of such Portfolio Investment, of (i) the amount of “original issue discount” (if any) applicable to the funding of such Portfolio Investment and (ii) the amount of any fees and expenses (excluding if taken in the form of
“original issue discount”) netted from the funding of such Portfolio Investment and otherwise (b) the “Purchase Rate” specified in the Relevant Trade Confirmation. 

  
 - 6 - 

 “Initial Purchaser” has the meaning set forth in the Guarantee. 

“Initial Value” means, with respect to any Portfolio Investment, (a) if such Portfolio Investment is a Primary Market Investment, an
amount equal to the product of (i) the Initial Principal Amount of such Portfolio Investment multiplied by (ii) the Initial Purchase Percentage of such Portfolio Investment, and otherwise (b) an amount equal to the amount of
cash proceeds actually paid by the Financial Provider to acquire such Portfolio Investment. 
 “Interest Proceeds” means, with respect to a
Portfolio Investment, all payments, including, without limitation, interest and fees, if any, actually received by the Financing Provider in its capacity as holder of such Portfolio Investment (other than sale proceeds or Principal Proceeds or
payments made as a result of any “payment-in-kind” feature of the Portfolio Investment) (whether paid by the obligor, an insurer, guarantor or other obligor or
as a result of enforcement of security). 
 “LIBOR Rate” shall mean, with respect to any Facility Fee Period, (i) the rate per annum
appearing on Reuters Pages LIBOR01 or LIBOR02 (or on any successor or substitute page(s) of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such
service, as determined by the Financing Provider in its reasonable discretion from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits in the London interbank market) at approximately 11:00 a.m., London
time, two (2) Business Days prior to the commencement of such Facility Fee Period, as the rate for Dollar deposits with a maturity of three (3) months or (ii) if the rate referenced in the preceding clause (i) is not available,
the rate per annum equal to the offered quotation rate to first class banks in the London interbank market by a leading bank in the London interbank market (selected by the Financing Provider in its reasonable discretion) for U.S. Dollar
deposits (for delivery on the first day of such Facility Fee Period) of amounts in same day funds comparable to the Financing Amount in effect at such time for periods comparable to such Facility Fee Period as of approximately 11:00 a.m. (London,
England time) two (2) Business Days prior to the commencement of such Facility Fee Period; provided that, if less than 0.0%, the LIBOR Rate shall be deemed to be 0.0% for the purposes of this Agreement. 

“LSTA” means the Loan Syndications and Trading Association, Inc. 

“LSTA Distressed Trade Confirmation” means the Distressed Trade Confirmation and the Purchase and Sale Agreement for Distressed Trades as
supplemented by the Standard Terms and Conditions applicable thereto, each as published by the LSTA as of March 16, 2020 (or as subsequently published by the LSTA). 

“LSTA Par/Near Par Trade Confirmation” means the Par/Near Par Trade Confirmation as supplemented by the Standard Terms and Conditions for
Par/Near Par Trade Confirmation, each as published by the LSTA as of March 16, 2020 (or as subsequently published by the LSTA). 
 “Material
Adverse Effect” means a material adverse effect on (a) the business, operations, properties, assets or financial condition of the Company taken as a whole (excluding in any case a decline in the net asset value of the Company or its
subsidiaries, a change in general market conditions or values of the investments of the Company and its subsidiaries taken as a whole); (b) the ability of any Company Party to fully and timely perform its Obligations; (c) the legality,
validity, binding effect or enforceability against a Company Party of a Facility Document to which it is a party; or (d) the rights, remedies and benefits available to, or conferred upon, the Financing Provider under any Facility Document. 

“Material Indebtedness” means Indebtedness for borrowed money of any Company Party that is (a) outstanding under the same agreement in a
principal amount exceeding $100,000,000 and (b) is either (i) public Indebtedness for borrowed money or (ii) Indebtedness for borrowed money owed to the Financing Provider or any Affiliate thereof. 

  
 - 7 - 

 “Moody’s” shall mean Moody’s Investors Service, Inc., together with its
successors. 
 “Obligations” shall mean all obligations and liabilities (including interest accruing on any overdue amounts and interest
accruing after the filing of any petition of bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Company, whether or not a claim for post-filing or post-petition interest is allowed in such
proceeding), of the Company to the Financing Provider, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which arise under this Agreement (including obligations and liabilities arising
under any Facility Sale Transaction), whether on account of fees, interest, reimbursement obligations, purchase price obligations, indemnities, out-of-pocket costs, and
expenses (including all reasonable and documented fees, charges and disbursements of counsel to the Financing Provider that are required to be paid by the Company pursuant hereto) or otherwise. 

“Organizational Documents” means (a) with respect to any corporation or company, its certificate, memorandum or articles of
incorporation, organization or association and its by-laws; (b) with respect to any limited partnership, its certificate or declaration of limited partnership and its partnership agreement; (c) with
respect to any general partnership, its partnership agreement and (d) with respect to any limited liability company, its articles of organization and its operating agreement. If any term or condition of this Agreement or any other Facility
Document requires any Organizational Document to be certified by a secretary of state or similar governmental official, the reference to any such Organizational Document shall only be to a document of a type customarily certified by such
governmental official. 
 “Outstanding Principal Amount” means, with respect to a Portfolio Investment and a Facility Sale Transaction, the
aggregate principal amount of such Portfolio Investment held by the Financing Provider on the Facility Sale Date (for the avoidance of doubt, after giving effect to any adjustments in principal resulting from principal repayments or payment-in-kind distributions occurring prior to the Facility Sale Date). 

“Parent” means The Blackstone Group Inc. 

“Parent Rating Event” means the long-term issuer credit rating (or such similar or analogous term) of the Parent is (a) downgraded by
S&P or Fitch to BB+ or lower or by Moody’s to Ba1 or lower or (b) withdrawn by S&P, Fitch or Moody’s. 
 “Par/Near Par
Facility Sale Confirmation” means the LSTA Par/Near Par Trade Confirmation attached as Exhibit B hereto. 
 “Payment Date” means
the 5th calendar day following the end of each Facility Fee Period (or if such date is not a Business Day, the immediately succeeding Business Day). 

“Person” means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies, limited
liability partnerships, joint stock companies, joint ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and Governmental Authorities. 

“Portfolio Investment” has the meaning set forth in Section 2.01. 

  
 - 8 - 

 “Portfolio Investment Documents” means, with respect to any Portfolio Investment,
(a) the Underlying Documentation in respect of such Portfolio Investment, (b) the offering memorandum, prospectus, private placement memorandum and other similar documentation relating to the terms and conditions of the Portfolio
Investment and (c) the latest performance reports, servicer reports, sub-servicer reports, master servicer reports or any similar reports or information that are available to the Financing Provider (in
its capacity as a holder of such Portfolio Investment). 
 “Portfolio Refusal” means, with respect to any Purchase Request, the delivery by
the Financing Provider to the Company of written notice that the Financing Provider is rejecting such Purchase Request pursuant to Section 2.02(b); provided that (a) such rejection shall only constitute a Portfolio Refusal if (i) such
Purchase Request was delivered by the Company to the Financing Provider in accordance with Section 2.02(a) and (ii) each of the conditions specified in Section 2.03 (other than condition (1)) is satisfied (in the Financing
Provider’s reasonable discretion) on the date such rejection notice is delivered, and (b) the date of a Portfolio Refusal shall be the date such rejection notice is delivered by the Financing Provider in accordance with
Section 2.02(b). 
 “Primary Market Investment” means a Portfolio Investment purchased by the Financing Provider in the primary
market. 
 “Principal Proceeds” means, with respect to a Portfolio Investment, all payments actually received by the Financing Provider in
its capacity as holder of such Portfolio Investment in respect of the reimbursement of the principal amount of the Portfolio Investment including principal payments on the maturity date and make-whole or premium payments, if any, paid to the
Financing Provider in its capacity as holder of such Portfolio Investment (whether paid by the obligor, an insurer, guarantor or other obligor or as a result of enforcement of security); provided that it is understood that (a) the principal
amount of the Portfolio Investment may be increased from time to time as the result of a “payment-in-kind” feature of the Portfolio Investment and such
increases shall not constitute Principal Proceeds and (b) principal reimbursement payments in respect of such increased principal amount shall constitute Principal Proceeds hereunder. 

“Principal Repayment Amount” means, with respect to any Portfolio Investment, an amount equal to (a) the aggregate amount of Principal
Proceeds actually received by the Financing Provider (in its capacity as holder of such Portfolio Investment) during the period from (and including) the Relevant Trade Date in respect thereof to (and excluding) the Facility Sale Date in respect
thereof minus (b) any such Principal Proceeds the Financing Provider is required (as determined by the Financing Provider in its reasonable discretion) to pay, transfer or return to (i) the Relevant Seller pursuant to the Relevant
Trade Confirmation or (ii) the underlying obligor pursuant to the Underlying Documentation. 
 “Purchase” has the meaning set forth in
Section 2.01. 
 “Purchase Period” means, with respect to any Purchase Request, the period beginning on (and including) the date on
which the conditions set forth in Section 2.03 were satisfied or waived in respect of such Purchase Request and ending on the earlier of (i) the first date on which the conditions set forth in Section 2.03 are no longer satisfied in
respect of such Purchase Request and (ii) the date that is 30 days following the first day of such Purchase Period. 
 “Purchase
Request” has the meaning set forth in Section 2.01. 
 “Received Interest Amount” means, with respect to any Portfolio
Investment and any period, an amount equal to (a) the aggregate amount of Interest Proceeds actually received by the Financing Provider (in its capacity as holder of such Portfolio Investment) during such period minus (b) any such
Interest Proceeds the Financing Provider is required (as determined by the Financing Provider in its reasonable discretion) to pay, transfer or return during such period to (i) the Relevant Seller pursuant to the Relevant Trade Confirmation or
(ii) the underlying obligor pursuant to the Underlying Documentation. 

  
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 “Received Payment Amount” means, with respect to any Portfolio Investment, an amount equal
to (a) the aggregate amount of Interest Proceeds and Principal Proceeds actually received by the Financing Provider (in its capacity as holder of such Portfolio Investment) during the period from (and including) the Relevant Trade Date in
respect thereof to (and excluding) the Facility Sale Date in respect thereof minus (b) any such Interest Proceeds or Principal Proceeds the Financing Provider is required (as determined by the Financing Provider in its reasonable
discretion) to pay, transfer or return to (i) the Relevant Seller pursuant to the Relevant Trade Confirmation or (ii) the underlying obligor pursuant to the Underlying Documentation. 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers,
partners, trustees, administrators, employees, agents and advisors of such Person and of such Person’s Affiliates. 
 “Relevant Failed
Settlement Date” means, with respect to any Portfolio Investment that is not a Primary Market Investment, if settlement occurred under the Relevant Trade Confirmation by any method other than assignment, the date on which the Company has
paid all Failed Settlement Obligations (if any) to the Financing Provider in accordance with Section 4.02. 
 “Relevant Principal
Amount” means, with respect to any Portfolio Investment held by the Financing Provider pursuant to this Agreement on any date of determination: 

(a) if such date occurs on or after the Relevant Settlement Date and prior to the Removal Date, an amount equal to (i) the Initial Value of such Portfolio
Investment plus (ii) the Additional Funded Amount minus (iii) the Principal Repayment Amount; and 
 (b) if such date occurs on or
after the Removal Date, zero; 
 provided that (x) if any such Portfolio Investment has been sold in whole or in part by the Financing Provider in a
transaction permitted or required under this Agreement and such sale or transfer has settled, the Sale Consideration Amount in respect thereof shall be excluded from the Relevant Principal Amount, and (y) if any such Portfolio Investment has
been sold (or is subject to an agreement to be sold) or encumbered in whole or in part by the Financing Provider in a transaction prohibited under this Agreement, the principal amount of such Portfolio Investment subject to such sale or encumbrance
shall be excluded from the Relevant Principal Amount (for the avoidance of doubt, in each case subject to a floor of zero). 
 “Relevant
Seller” means, with respect to any Portfolio Investment that is not a Primary Market Investment, the “Seller” under the Relevant Trade Confirmation. 

“Relevant Settlement Date” means, with respect to any Portfolio Investment, (a) if such Portfolio Investment is a Primary Market
Investment, the initial date on which the Financing Provider funds such Portfolio Investment loans and otherwise (b) the settlement date determined pursuant to the terms of the Relevant Trade Confirmation. 

“Relevant Trade Confirmation” means, with respect to any Portfolio Investment, the Trade Confirmation pursuant to which the Financing
Provider acquired such Portfolio Investment. 

  
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 “Relevant Trade Date” means, with respect to any Portfolio Investment, (a) if such
Portfolio Investment is a Primary Market Investment, the date on which the Financing Provider funds such Portfolio Investment loans and otherwise (b) the “Trade Date” under the Relevant Trade Confirmation. 

“Removal Date” means, with respect to any Portfolio Investment, the earliest to occur of (a) the Relevant Failed Settlement Date,
(b) the Ineligibility Sale Settlement Date and (c) the Facility Sale Settlement Date. 
 “Requested Amount” means, with respect
to any proposed Portfolio Investment specified in a Purchase Request, the aggregate principal amount such proposed Portfolio Investment subject to the Purchase Request. 

“Required Notification Date” means, with respect to a Voting Rights Request, the date that is the earlier of (x) three (3) Business
Days after receipt of such Voting Rights Request or (y) the date that is five (5) Business Days prior to the last date on which the Financing Provider (in its capacity as holder of the relevant Portfolio Investment) may act with respect to
the related vote; provided that, if the Company provides the Financing Provider with a Voting Rights Request within five (5) Business Days prior to the last date on which the Financing Provider (in its capacity as holder of the relevant
Portfolio Investment) may act with respect to the related vote, the Financing Provider shall use commercially reasonable efforts to provide the Company with a Voting Rights Intent Notice before such vote takes place. 

“S&P” shall mean Standard & Poor’s Ratings Services, together with its successors. 

“Sale Consideration Amount” means, with respect to any sale of a Portfolio Investment to any person other than a Company Party permitted or
required under this Agreement, an amount equal to the cash proceeds actually received by the Financial Provider with respect to such sale. 
 “Sale
Intent Notice” has the meaning set forth in Section 2.04. 
 “Sale Gain Amount” means, if the amount so calculated pursuant
to clause (1) of the definition of “Sale Loss Amount” is less than zero, the absolute value of such amount. 
 “Sale Loss
Amount” means, with respect to any sale of a Portfolio Investment to any person other than a Company Party permitted or required under this Agreement, an amount equal to the greater of (1) (a) (x) the Initial Value plus
(y) the Additional Funded Amount minus (b) (x) the Sale Consideration Amount plus (y) the Received Principal Amount in respect of such Portfolio Investment immediately prior to the “Trade Date” under the Trade
Confirmation documenting such sale and (2) zero. 
 “Second Lien Loan” means a non-revolving,
senior secured loan, including any delayed draw term loan, which trades as a “second lien loan” as determined by the Financing Provider under then-current trading practices in the primary or secondary loan market, as the case may be, and
which is not a Distressed Loan. 
 “Structuring Fee Amount” means an amount equal to $[1,375,000]. 

“Termination Date” means the date on which the final Facility Sale Settlement Date occurs following the Facility End Date or Facility
Acceleration Event (provided that if there are no Portfolio Investments on the Facility End Date or the date of such Facility Acceleration Event, as applicable, the Termination Date shall be the Facility End Date or the date of such Facility
Acceleration Event, as applicable). 

  
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 “Trade Confirmation” means, in each case in accordance with the Underlying Documents: 

(a) In the context of the purchase or sale of Eligible Reference Loans in the secondary loan trading market that are not Distressed Loans, the LSTA Par/Near
Par Trade Confirmation or such other purchase and sale documentation as commonly utilized or required by the applicable secondary loan trading market in which the relevant Eligible Reference Loans trades, 

(b) in the context of the purchase or sale of Eligible Reference Loans in the secondary loan trading market that are Distressed Loans, the LSTA Distressed
Trade Confirmation or such other purchase and sale documentation as commonly utilized or required by the applicable secondary loan trading market in which the relevant Eligible Reference Loan trades, and 

(c) in the context of the purchase of loans in the primary market, written confirmation from the lead lender or agent bank in connection with the proposed
Portfolio Investment that a principal amount of such loan equal to the Requested Amount has been allocated to Financing Provider. 

“Transaction” has the meaning set forth in Section 6.01(c). 

“Underlying Documentation” means, with respect to any Portfolio Investment, the credit agreement or other similar primary agreement
documenting the terms of such Portfolio Investment (which, in the case of any Portfolio Investments that is not a Primary Market Investment shall be the “Credit Agreement” specified in the Relevant Trade Confirmation) together with any
other transaction documents governing such Portfolio Investment, in each case as such agreements are amended from time to time. 
 “Unused
Amount” means, on any date, an amount equal to the greater of (a) (i) the Commitment Amount on such date minus (ii) the Financing Amount on such date minus (iii) the Unused Holiday Amount on such date and
(b) zero. 
 “Unused Fee” has the meaning set forth in Section 4.01(a). 

“Unused Fee Amount” means, with respect to any Facility Fee Period, an amount equal to the product of: 

(a) the Average Unused Amount for such Facility Fee Period; 
 (b)
the Unused Fee Rate; and 
 (c) the actual number of days in such Facility Fee Period divided by 360. 

“Unused Fee Rate” means a rate per annum equal to 0.50%. 

“Unused Holiday Amount” means, on any date, the lesser of: 

(a) (i) the Commitment Amount in effect on such date plus (ii) the Financing Amount in effect on such date; and 

(b) (i) the Unused Holiday Amount on the immediately preceding date plus (ii) the Daily Holiday Amount in respect of such immediately
preceding date; 
 provided that the Unused Holiday Amount on the Closing Date shall be zero. 

“Voting Rights” has the meaning set forth in Section 2.05. 

“Voting Rights Intent Notice” has the meaning set forth in Section 2.05. 

  
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 “Voting Rights Request” has the meaning set forth in Section 2.05. 

ARTICLE II 
 THE PORTFOLIO
INVESTMENTS 
 SECTION 2.01. Purchases of Portfolio Investments. From time to time the Company may request (each such request, a “Purchase
Request”, and each such requested purchase, a “Purchase”) that the Financing Provider acquire one or more Eligible Reference Loans and sell such Eligible Reference Loans to the Company on the terms set forth herein (each
such Eligible Reference Loan subject to a Purchase Request, a “Portfolio Investment” until the Removal Date in respect thereof). 
 SECTION
2.02. Procedures for Purchases.  
 (a) Purchase Requests. In connection with each Purchase Request, the Company
shall deliver to the Financing Provider a Purchase Request Form (substantially in the form as set forth on Schedule 1 hereto) together with such other information as the Financing Provider requests (including (1) information regarding such
Portfolio Investment, each related obligor and any related underlying instruments, (2) any recent information memoranda, (3) the related obligor’s most recent loan compliance statements and (4) any recent financial statements of
each related obligor). 
 (b) Right of Financing Provider to Reject Purchase Requests. The Financing Provider shall have the right, in
its sole and absolute discretion, to approve or reject any Purchase Request and to request additional information regarding any proposed Portfolio Investment. The Financing Provider shall notify the Company (including via email) of its approval or
rejection of each Purchase Request (and, in the case of rejections, whether such rejection constitutes a Portfolio Refusal) no later than the fifth (5th) Business Day succeeding the date on which
it receives the Purchase Request from the Company (provided that for the avoidance of doubt, failure by the Financing Provider to timely provide such notice shall not in any circumstances be deemed an acceptance of such Purchase Request). 

SECTION 2.03. Conditions to Purchases. The Financing Provider shall not enter into any requested Purchase unless each of the following conditions is
satisfied (or waived as provided below): 
 (1) the Financing Provider, in its sole and absolute discretion, has approved the
related Purchase Request pursuant to Section 2.02(b); 
 (2) the related Purchase Request accurately describes in
reasonable detail the proposed Portfolio Investment and such Portfolio Investment as of the date of such request satisfies the Eligibility Criteria; 

(3) no Default or Event of Default has occurred and is continuing; 

(4) no event of default under the Underlying Documentation for such Portfolio Investment has occurred and is continuing; 

  
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 (5) the representations and warranties contained herein and in the other
Facility Documents shall be true and correct in all material respects on and as of the date of determination to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an
earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any
representations and warranties that already are qualified or modified by materiality in the text thereof; and 
 (6)
immediately after giving effect to the Purchase of the proposed Portfolio Investment, the Financing Amount does not exceed the Commitment Amount in effect on such date. 

The Financing Provider may (in its sole and absolute discretion) waive any conditions to a Purchase specified above in this Section 2.03
by written notice thereof to the Company. 
 If the above conditions to a Purchase are satisfied or waived, during the related Purchase
Period the Financing Provider shall use good faith efforts to enter into such Purchase on the terms set forth in the relevant Purchase Request. 
 SECTION
2.04. Sales of Portfolio Investments; No Liens on Portfolio Investments. The Financing Provider will not sell, transfer, pledge, assign or otherwise dispose of any Portfolio Investment without the prior written consent of the Company
other than (i) to the Applicable Purchaser (or to a Designated Assignee in accordance with Section 3.01) pursuant to a Facility Sale Transaction, (ii) following the occurrence of any Illegality Event or Adverse Claim Event with
respect to such Portfolio Investment, (iii) any Portfolio Investment that at any time is or becomes an Ineligible Investment and (iv) pursuant to a Default Sale; provided that with respect to the preceding clauses (ii) and (iii), (a)
the Financing Provider shall provide the Company with five (5) Business Days’ prior written notice (a “Sale Intent Notice”) of the Financing Provider’s intent to pursue a sale or transfer of such Portfolio Investment
and (b) the Company may at any time within five (5) Business Days of receipt of such notice elect to declare an Accelerated Sale Event in respect of such Portfolio Investment by written notice to the Financing Provider. The Financing
Provider shall not create, incur, assume or suffer to exist any lien or encumbrance of any kind with respect to any Portfolio Investment except as expressly permitted under this Agreement. 

SECTION 2.05. Voting of Portfolio Investments. 

(a) The Financing Provider agrees to use best efforts (1) to notify the Company in writing (which may be by email) of the expected
occurrence of any event in respect of which (whether under the terms of the Portfolio Investment or otherwise) the Financing Provider (in its capacity as a holder of such Portfolio Investment) has the right to vote on or consent to any waiver,
amendment, modification or other action with respect to such Portfolio Investment or the documentation relating thereto (collectively, “Voting Rights”), and (2) to provide to the Company any related documentation, instructions
or notices provided to the Financing Provider (in its capacity as holder of such Portfolio Investment) in relation to such Voting Rights, within two (2) Business Days after the earlier of (i) receipt of notice thereof or
(ii) otherwise becoming aware thereof. 
 (b) The Company may, but is not required to at any time, request that the Financing Provider
exercise Voting Rights with respect to the Portfolio Investment in a certain way (such request, a “Voting Rights Request”). By the relevant Required Notification Date, the Financing Provider shall notify the Company in writing
(which may be by email) whether it will or will not exercise such Voting Rights in accordance with the Voting Rights Request (such notice, a “Voting Rights Intent Notice”). Neither the Financing Provider nor any of its subsidiaries
will have an obligation to vote any Voting Rights pursuant to any Voting Rights Request. 

  
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 (c) Except for the provisions hereof, neither the Financing Provider nor any of its
subsidiaries shall have an obligation in connection with any Voting Rights to obtain any consent from the Company when making any decisions and taking or refraining from taking any actions in connection with any Portfolio Investment, including,
without limitation, (i) any consent, waiver, modification or release of any term thereof, (ii) the exercise of any rights or remedies thereunder, and (iii) foreclosure, sale or other dealings with respect to any collateral. 

(d) The Financing Provider shall have no obligation to notify the Company if to do so would constitute a breach of any confidentiality
obligations to which the Financing Provider or its subsidiary may (in its capacity as a holder of the relevant Portfolio Investment) be subject (as determined by the Financing Provider’s counsel); provided that, if at any time the
Financing Provider could, by entering into a confidentiality agreement with the Company, avoid breaching any confidentiality obligation to which the Financing Provider is subject, the Financing Provider shall promptly offer to enter into a
confidentiality agreement with the Company on commercially reasonable terms. 
 SECTION 2.06. Documentation, Reports, etc. To the extent (x) it
would not constitute a breach of any confidentiality obligations to which the Financing Provider is subject (as determined by the Financing Provider’s counsel) or (y) the Financing Provider could avoid such breach by entering into a
confidentiality agreement with the Company on commercially reasonable terms, the Financing Provider will (with respect to clause (y) only, after entering a confidentiality agreement with the Company) obtain and provide the Company promptly with
copies of all Portfolio Investment Documents reasonably available to the Financing Provider in its capacity as holder of such Portfolio Investment, and thereafter obtain and provide the Company promptly with any and all amendments and modifications
thereto reasonably available to the Financing Provider in its capacity as holder of such Portfolio Investment. If the Financing Provider’s counsel determines that such action would constitute a breach of any such confidentiality obligations
which could not be avoided by the Financing Provider entering into a confidentiality agreement with the Company, the Financing Provider shall promptly provide the Company written notice of the same, including a detailed explanation of the rationale
for such determination. 
 SECTION 2.07. Accelerated Sale Events. 

(a) If at any time the Financing Provider determines (in its reasonable discretion) that any of the events set forth in the definition of
“Accelerated Sale Event” has occurred with respect to any Portfolio Investment, the Financing Provider may after three (3) Business Days’ written notice to the Company, declare an Accelerated Sale Event with respect to such
Portfolio Investment by written notice to the Company. 
 (b) At any time the Company may declare an Accelerated Sale Event with respect to
any Portfolio Investment by written notice to the Financing Provider; provided that the Company shall not declare an Accelerated Sale Event in respect of any Portfolio Investment at any time following the fifth Business Day following the
Company’s receipt of a Sale Intent Notice in respect thereof. 
 SECTION 2.08. Principal and Interest Proceeds. For the avoidance of doubt, the
parties acknowledge and agree that all Principal Proceeds and Interest Proceeds received by the Financing Provider in respect of any Portfolio Investment shall be solely for the account of the Financing Provider and shall not be subject to any
restrictions under this Agreement or any other Facility Agreement. For purposes of clarity, the foregoing will not limit in any manner the obligation of the Financing Provider to make any payments or distributions to the Company pursuant to
Section 4.01(a) (or, to the extent applicable, to apply the Aggregate Received Interest Amount to reduce the amounts payable by the Company to the Financing Provider pursuant to Section 4.01(a)). 

  
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 ARTICLE III 

FACILITY SALES 
 SECTION 3.01. Facility
Sales. The Company and the Financing Provider hereby agree that on the Facility Sale Date in respect of each Portfolio Investment, the Applicable Purchaser and the Financing Provider shall be deemed to enter into a Facility Sale Transaction in
respect of such Portfolio Investment pursuant to which the Financing Provider will sell such Portfolio Investment to the Applicable Purchaser on the terms set forth herein (provided that the Applicable Purchaser may, within three
(3) Business Days of any Facility Sale Date, designate (by written notice to the Financing Provider) another Person as the assignee (a “Designated Assignee”) of the relevant Portfolio Investment under such Facility Sale
Transaction so long as (a) the Applicable Purchaser represents and warrants that the matters set forth in 6.01(b) are true and correct in all material respects with respect to such Designated Assignee and (b) the Financing Provider shall
have received all documentation and other information required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the PATRIOT Act, in respect of such Designated
Assignee; provided further, for the avoidance of doubt, obligations and liabilities arising under any such Facility Sale Transaction shall be “Obligations” of the Applicable Purchaser hereunder and the designation of a Designated
Assignee shall not relieve any Company Party of its obligations in respect thereof). For the avoidance of doubt, the parties hereby agree that each Facility Sale Transaction shall be part of this Agreement and, without duplication of any obligations
under any of the agreements in Section 3.02 below, any obligations or liabilities of the Applicable Purchaser arising thereunder shall constitute “Obligations” under this Agreement. 

SECTION 3.02. Documentation. Each Facility Sale Transaction in respect of a Portfolio Investment that is a Distressed Loan (determined as of the
related Facility Sale Date in the Financing Provider’s reasonable discretion) shall be deemed to be entered into pursuant to a Distressed Facility Sale Confirmation with the terms set forth on Schedule 2. Each Facility Sale Transaction in
respect of a Portfolio Investment that is not a Distressed Loan (determined as of the related Facility Sale Date in the Financing Provider’s reasonable discretion) shall be deemed to be entered into pursuant to a Par/Near Par Facility Sale
Confirmation with the terms set forth on Schedule 3. 
 SECTION 3.03. Non-Cash Receipts. If, in connection
with any Portfolio Investment, the Financing Provider receives any asset or property other than cash, such asset or property will be transferred and assigned on the Facility Sale Settlement Date in respect thereof, free and clear of all liens and
encumbrances, to the Applicable Purchaser (and in the name of the Applicable Purchaser). 
 SECTION 3.04. Capital Condition. For the avoidance of
doubt, the parties agree that, notwithstanding any provision to the contrary herein, the Company shall not be required to enter into any Facility Sale Transaction under this Agreement unless and until the Capital Condition is satisfied. 

  
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 ARTICLE IV 

FACILITY PAYMENTS 
 SECTION 4.01.
Facility Payments; Structuring Fees.  
 (a) Facility Fees. On each Payment Date: 

(i) if the Facility Payment Amount is positive, the Company shall pay to the Financing Provider an amount equal to the Facility
Payment Amount; and 
 (ii) if the Facility Payment Amount is negative, the Financing Provider shall pay to the Company an
amount equal to the absolute value of the Facility Payment Amount. 
 (b) Structuring Fee. On the Payment Date occurring after the
earlier to occur of (i) the Facility End Date and (ii) the Termination Date, the Company shall pay to the Financing Provider a structuring fee in an amount equal to the Structuring Fee Amount. 

  
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 SECTION 4.02. Expenses; Portfolio Investment Sale Losses. 

(a) Expenses. The Company shall pay or reimburse: 

(i) (a) all reasonable and documented fees and reasonable and documented
out-of-pocket expenses of the Financing Provider associated with the preparation, negotiation, execution, delivery and administration of the Facility Documents and any
amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), including the reasonable and documented fees and out-of-pocket, documented expenses of one outside counsel for the Financing Provider with respect thereto, provided that the aggregate amount of such fees and expenses payable by the Company shall not exceed
$125,000, and (b) in connection with any enforcement of the Facility Documents, all reasonable and documented fees and out-of-pocket expenses of the Financing
Provider (limited, in each case, to the reasonable and documented out-of-pocket fees, disbursements and other charges of, in the case of legal counsel, one firm of
outside counsel for the Financing Provider, and if necessary, any local counsel in each material jurisdiction) including all such documented out-of-pocket expenses
incurred during any workout, restructuring or negotiations; 
 (ii) in respect of each Portfolio Investment, all (a) documented actual
costs and fees required to be paid by the Financing Provider to a lender or agent under the relevant credit documentation, including amounts paid as an indemnity or compensation for acting as agent under or for providing administrative services with
respect to the relevant Portfolio Investment or such credit documentation, (b) actual advisory fees required to be paid by the Financing Provider under the Underlying Documentation in respect of a Portfolio Investment as a holder thereof or
which were incurred at the request of the Company, (c) reasonable and documented out-of-pocket external legal fees of one firm of outside counsel incurred by the
Financing Provider in connection with its ownership of such Portfolio Investment with respect to which a default, event of default or similar event has occurred or in connection with any Portfolio Investment that becomes a Distressed Loan (and to
the extent not reimbursable under the Underlying Documentation), and (d) assignment or transfer fees required under the Underlying Documentation payable to a trustee, agent, borrower or obligor or similar person in connection with a transfer of
the Portfolio Investment permitted or required under this Agreement and any other costs and expenses (including legal costs, duties and taxes) required to be paid by the Financing Provider under the terms of the Underlying Documentation relating to
the Portfolio Investment in connection therewith; and 
 (iii) without duplication with clauses (i) and (ii) above, in respect of each
Purchase requested by the Company, all reasonable and documented out-of-pocket actual costs, fees, expenses and losses incurred by the Financing Provider in completing,
or attempting to complete, such Purchase, including with respect to settlement under the applicable Relevant Trade Confirmation (all such costs, fees, out-of-pocket
expenses and losses incurred in connection with settlement by any method other than assignment being “Failed Settlement Obligations”). 

(b) Portfolio Investment Sale Proceeds. With respect to any sale, or attempted sale, of any Portfolio Investment by the Financing
Provider to any person other than a Company Party or any designee thereof permitted or required under this Agreement, (i) the Company shall pay to the Financing Provider an amount, if any, equal to the Sale Loss Amount and (ii) the
Financing Provider shall pay to the Company an amount, if any, equal to the Sale Gain Amount. 

  
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 (c) Payments. All payments or reimbursements pursuant to this Section 4.02 shall
be paid within thirty (30) days of the Company’s receipt of written demand together with reasonably detailed back-up documentation supporting such demand. 

SECTION 4.03. Payments Generally; Default Interest; Right of Set-off. 

(a) Payments Generally. The Company shall (or, to the extent applicable, the Applicable Purchaser shall) make each payment required to
be made by it hereunder (whether of amounts payable under Section 4.01 or 4.02, or otherwise) prior to 3:00 p.m., on the date when due, in immediately available funds, without
set-off or counterclaim. Any amounts received after such time on any date may, in the reasonable discretion of the Financing Provider, be deemed to have been received on the next succeeding Business Day. All
such payments shall be made to the Financing Provider at its offices and pursuant to wire instructions, in each case to be provided by the Financing Provider. All payments hereunder shall be made in U.S. Dollars. 

(b) Default Interest. If the Applicable Purchaser shall default in the payment of any Obligations to purchase any Portfolio Investment
hereunder, the Applicable Purchaser shall on receipt of written demand of the Financing Provider from time to time pay interest, to the extent permitted by law, on all overdue amounts up to (but not including) the date of actual payment (after as
well as before judgment) at a rate per annum (computed using the actual number of days elapsed over a year of 360 days) equal to 2.0%. 
 (c)
Right of Set-off. Upon the occurrence and during the continuance of any Event of Default, the Financing Provider (and its respective banking Affiliates) are hereby authorized at any time and from time
to time, to the fullest extent permitted by law, to set off and apply any and all deposits at any time held and other indebtedness at any time owing by the Financing Provider (or any of its banking Affiliates) to or for the credit or the account of
any Company Party against any and all of any such overdue amounts owing to such Person under the Facility Documents, irrespective of whether or not the Financing Provider shall have made any demand under any Facility Document. 

ARTICLE V 
 CONDITIONS PRECEDENT

 SECTION 5.01. Representations and Warranties. The obligation of the Financing Provider to enter into this Agreement and perform its obligations
hereunder is subject to the satisfaction, or waiver in accordance with Section 8.04, of the following conditions on or before the Closing Date: 

(a) Facility Documents. The Financing Provider shall have received copies of each Facility Document as the Financing Provider shall
reasonably request, duly executed and delivered by each Company Party; 
 (b) Organizational Documents; Incumbency. The Financing
Provider shall have received, in respect of each Company Party, (1) copies of each Organizational Document as the Financing Provider shall reasonably request, and, to the extent applicable, certified as of the Closing Date or a recent date
prior thereto by the appropriate Governmental Authority; (2) signature and incumbency certificates of the authorized signatories of such Company Party; (3) actions by written consent of the managing member, resolutions or other
authorizations of or by the members, board of directors or similar governing body, as applicable, of such Company Party approving and authorizing the execution, delivery and 

  
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performance of the Facility Documents to which it is a party or by which it or its assets may be bound as of the Closing Date, certified as of the Closing Date by its secretary or an assistant
secretary as being in full force and effect without modification or amendment; (4) a good standing certificate from the applicable Governmental Authority of such Company Party’s jurisdiction of incorporation, organization or formation
dated the Closing Date or a recent date prior thereto and (5) such other documents as the Financing Provider may reasonably request; 

(c) Governmental Authorizations and Consents. Each Company Party shall have obtained all Governmental Authorizations and all consents of
other Persons, in each case that are necessary or advisable in connection with the transactions contemplated by the Facility Documents and each of the foregoing shall be in full force and effect and in form and substance reasonably satisfactory to
the Financing Provider. All applicable waiting periods shall have expired without any action being taken or threatened by any competent authority which would restrain, prevent or otherwise impose adverse conditions on the transactions contemplated
by the Facility Documents or the financing thereof and no action, request for stay, petition for review or rehearing, reconsideration, or appeal with respect to any of the foregoing shall be pending, and the time for any applicable agency to take
action to set aside its consent on its own motion shall have expired; 
 (d) Opinions of Counsel. The Financing Provider and its
counsel shall have received a duly executed copy of opinions of Dechert LLP, counsel to the Company Parties, dated the Closing Date, in form and substance reasonably satisfactory to the Financing Provider (and each Company Party hereby instructs
such counsel to deliver such opinion to the Financing Provider) (it being understood that no such opinion will be required to be given with respect to any foreign party); 

(e) Expenses. The Company shall have paid to the Financing Provider all expenses payable pursuant to Section 4.02 that have accrued
prior to the Closing Date; 
 (f) No Litigation. There shall not exist any action, suit, investigation, litigation, proceeding,
hearing or other legal or regulatory developments, pending or, to its reasonable knowledge, threatened in any court or before any arbitrator or Governmental Authority that, in the reasonable opinion of the Financing Provider, singly or in the
aggregate, materially impairs any of the transactions contemplated by the Facility Documents or that could have a Material Adverse Effect; 

(g) Patriot Act. On or prior to the Closing Date, the Financing Provider shall have received all documentation and other information
required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001) the “PATRIOT Act”) in respect of each Company Party; and 

(h) Other Matters. Such other documents as the Financing Provider may reasonably require; provided that nothing in this clause
shall imply or impose a duty on the Financing Provider to so require. 

  
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 ARTICLE VI 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

SECTION 6.01. Representations and Warranties. 

(a) The Company and the Initial Purchaser each represents to the Financing Provider that (i) it is duly organized and validly existing
under the laws of the jurisdiction of its organization and has all requisite power and authority to execute, deliver and perform this Agreement and each other document contemplated hereby to which it is a party and to consummate the transactions
herein and therein contemplated, (ii) the execution, delivery and performance of this Agreement and each such other related document, and the consummation of such transactions have been duly authorized by it and this Agreement and each such
other document constitutes its legal, valid and binding obligation, (iii) the execution, delivery and performance of this Agreement and each such other document and the consummation of such transactions (x) do not and will not conflict
with the provisions of its governing instruments, (y) will not violate any provisions of applicable law or regulation or any order of any court or regulatory body and (z) will not result in the breach of, or constitute a default, or
require any consent, under any material agreement, instrument or document to which it is a party or by which it or any of its property may be bound or affected and (iv) no actions or proceedings at law or in equity are pending (or, to its
knowledge, threatened) against it before any court, tribunal, governmental body, agency or official or any arbitrator that would reasonably be expected to result in a Material Adverse Effect. 

(b) On each Relevant Trade Date and Facility Sale Date, the Applicable Purchaser represents and warrants that the Applicable Purchaser is an
eligible assignee under the documentation governing the relevant Portfolio Investment, however eligibility (or such similar terms as necessary to give meaning to this provision) is determined thereunder and, without limiting the foregoing, is
eligible to become the registered owner of such Portfolio Investment (subject to any consents required under the Underlying Documentation). 

(c) Each of the Company, the Initial Purchaser and the Financing Provider represents and warrants that, with respect to this Agreement and each
transaction contemplated hereby (each, a “Transaction”): 
 (i)
Non-Reliance. It has made its own determinations regarding the tax and accounting treatment of all aspects of the Transaction including, without limitation, the tax and accounting treatment of
any principal, interest or other distributions paid with respect to the Portfolio Investments. It is acting for its own account, and it has made its own independent decisions to enter into that Transaction. It has evaluated for itself whether that
Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a
recommendation to enter into that Transaction; it being understood that information and explanations related to the terms and conditions of a Transaction shall not be considered investment advice or a recommendation to enter into that Transaction.
No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected results of that Transaction. 

(ii) Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or
through independent professional advice), and understands and accepts, the terms, conditions and risks of that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction. 

(iii) Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in respect of that
Transaction. 
 On each Relevant Trade Date and Facility Sale Date the Applicable Purchaser and the Financing Provider shall each be deemed to repeat all
the foregoing representations in this clause (c) made by it. 

  
 - 21 - 

 (d) Financing Provider Representation and Warranty. The Financing Provider
represents and warrants to each Company Party that it (a) shall not, and does not intend to, treat or characterize the entry into this Agreement as a “true sale” of any Portfolio Investment, (b) it shall account for each
Portfolio Investment on its consolidated balance sheet and (c) shall not legally isolate any such Portfolio Investment with the intention that such assets may not be recoverable by, or available to, the estate of the Financing Provider or its
creditors in the event of a bankruptcy, insolvency or other similar event or proceeding. 
 ARTICLE VII 

EVENTS OF DEFAULT 
 SECTION 7.01. Events of
Default. 
 Each of the following events shall be an “Event of Default” hereunder: 

(a) the Company or the Initial Purchaser shall fail to pay any amount owing by it in respect of the Obligations (whether for
fees, valid reimbursement obligations or other amounts) when and as the same shall become due and payable, and, in the case of any fee, cost, expense or loss, such failure is not remedied on or before the first (1st) Business Day after written notice of such failure is received by the Company; 

(b) any representation or warranty made or deemed made by any Company Party herein or in any Facility Document or any amendment
or modification hereof or thereof or waiver hereunder or thereunder, or in any report, certificate or other document furnished pursuant hereto or thereto or any amendment or modification hereof or thereof or waiver hereunder or thereunder, shall
prove to have been incorrect in any material respect when made or deemed made; 
 (c) any Company Party shall fail to observe
or perform any covenant, condition or agreement contained herein and such failure is not remedied on or before ten (10) Business Days after written notice of such failure if received by the Company; 

(d) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation,
reorganization or other relief in respect of any Company Party or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the
appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Company Party or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for sixty
(60) days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (e) any Company Party
shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect,
(ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (d) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for such Company Party or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make
a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; 

  
 - 22 - 

 (f) any Company Party shall become unable, admit in writing its inability or
fail generally to pay its debts as they become due; 
 (g) (i) any Company Party shall default in the performance of any
obligation relating to Material Indebtedness and any applicable grace periods shall have expired and any applicable notice requirements shall have been complied with, and as a result of such default the holder or holders of such Material
Indebtedness or any trustee or agent on behalf of such holder or holders shall have caused, or shall be entitled or permitted or have the right to cause, such Material Indebtedness to become due prior to its scheduled final maturity date or
(ii) any Company Party shall default in the payment of the outstanding principal amount due on the scheduled final maturity date of any Indebtedness outstanding under one or more agreements of such Company Party, any applicable grace periods
shall have expired following the applicable scheduled final maturity date thereunder, in an aggregate principal amount at any time unpaid exceeding $100,000,000; or 

(h) a Parent Rating Event, 

SECTION 7.02. Remedies. 

(a) Upon the occurrence of an Event of Default (other than an event with respect to the Company described in clause (d) or
(e) of Section 7.01), and at any time thereafter during the continuance of such event, the Financing Provider may, by written notice to the Company, take one or more of the following actions, at the same or different times: 

(i) terminate the commitments and reduce the Commitment Amount to zero; 

(ii) declare a Facility Acceleration Event; 

(iii) declare all of the Obligations then outstanding to be due and payable in whole (or in part, in which case any
Obligations not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the Obligations so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the
Company and Initial Purchaser accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Company and the Initial Purchaser; 

(iv) in the event that any Facility Sale Transaction is stayed, enjoined or declared to be ineffective by a court of competent
jurisdiction, or if any Company Party files or supports any motion seeking the same, to sell or otherwise dispose of in a commercially reasonable manner (a “Default Sale”) the Portfolio Investment at such price or prices as the
Facility Provider may reasonably deem satisfactory, subject to such Facility Sale Transaction and declare any Sale Loss Amounts arising therefrom to be due and payable immediately, without presentment, demand, protest or other notice of any kind,
all of which are hereby waived by the Company and the Initial Purchaser; and 

  
 - 23 - 

 (v) subject to the terms of the Facility Documents, exercise any and all
remedies under the Facility Documents and under applicable law available to the Financing Provider, 
 (b) Upon the
occurrence of an Event of Default described in clause (d) or (e) of Section 7.01, the actions and events described in Sections 7.02(a)(i), (ii) and(iii) shall be required or taken automatically without presentment, demand, protest or other
notice of any kind, all of which are hereby waived by the Company and the Initial Purchaser. 
 ARTICLE VIII 

MISCELLANEOUS 
 SECTION 8.01. Notices. All
notices and other communications in respect hereof (including, without limitation, any modifications hereof, or requests, waivers or consents hereunder) to be given or made by a party hereto shall be in writing (including by electronic mail or other
electronic messaging system) to: 
 (i) if to the Company or the Initial Purchaser, to it at c/o GSO Capital Partners LP, 345 Park Ave., New
York, NY 10154, Attention of Brad Marshall (E-mail gsointralinks1@blackstone.com); with a copy, which shall not constitute notice, to it at c/o GSO Capital Advisors LLC, 345 Park Ave., New York, NY 10154,
Attention of Marc Sileo / Jana Douglas (Telephone No. 212-503-2127 / 2025; E-mail Marc.Sileo@gsocap.com /
Jana.Douglas@gsocap.com); with a copy, which shall not constitute notice, to Dechert LLP, 1095 Avenue of the Americas, New York, New York 10036, Attention of Jay R. Alicandri, Esq. (Telephone No. (212)
698-3800; E-mail jay.alicandri@dechert.com); and 
 (ii) if
to the Financing Provider, to the address to be provided separately by the Financing Provider; 
 or, in each case, at such other address as shall be
designated by such party in a notice to each other party hereto. All such notices and other communications shall be deemed to have been duly given when transmitted by telecopier or personally delivered or, in the case of a mailed notice, upon
receipt, in each case given or addressed as aforesaid. 
 SECTION 8.02. No Waiver. No failure on the part of any party hereto to exercise and no
delay in exercising, and no course of dealing with respect to, any right, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege under this Agreement
preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. 

SECTION 8.03. Indemnity; Damage Waiver. 

(a) The Company shall indemnify the Financing Provider and each of its Related Parties (each such person being called an
“Indemnitee”), against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of not more than one (1) outside counsel for
any Indemnitee, and if necessary, any local counsel in each material jurisdiction, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (1) the execution or delivery of this Agreement or any
agreement or 

  
 - 24 - 

 
instrument contemplated thereby, the performance by the parties thereto of their respective obligations hereunder or the exercise of the parties thereto of their respective rights or the
consummation of the transactions contemplated hereby, (2) the purchase (or attempted purchase), sale (or attempted sale) or ownership of any Portfolio Investment, in each case in accordance with the terms of this Agreement, or (3) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from
(x) the bad faith, fraud, willful misconduct or gross negligence of such Indemnitee, (y) a claim brought against such Indemnitee for material breach in bad faith of such Indemnitee’s obligations under this Agreement or the other
Facility Documents, if there has been a final and nonappealable judgment against such Indemnitee on such claim as determined by a court of competent jurisdiction or (z) a claim arising as a result of a dispute between Indemnitees (other than
claims arising out of any act or omission by the Company or its Affiliates). 
 (b) To the extent permitted by applicable law, no party
hereto shall assert, and each party hereto hereby waives, any claim against any other party (or any Related Party to such party), on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual
damages) arising out of, in connection with, or as a result of, this Agreement or any agreement, instrument or transaction contemplated hereby, or the purchase (or attempted purchase), sale (or attempted sale) or ownership of any Portfolio
Investment. 
 SECTION 8.04. Amendments. No amendment, modification or waiver in respect of this Agreement will be effective unless in writing
(including, without limitation, a writing evidenced by a facsimile transmission) and executed by the Company, the Initial Purchaser and the Financing Provider. 

SECTION 8.05. Successors; Assignments. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby, except that (i) neither the Company nor the Initial Purchaser may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Financing
Provider (and any attempted assignment or transfer by the Company or the Initial Purchaser without such consent shall be null and void) and (ii) the Financing Provider may not assign or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of the Company (and any attempted assignment or transfer by the Company without such consent shall be null and void). Except as expressly set forth herein, nothing in this Agreement, expressed or implied,
shall be construed to confer upon any person any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 SECTION 8.06.
Governing Law; Submission to Jurisdiction; Etc. 
 (a) Governing Law. This Agreement will be governed by and construed in
accordance with the law of the State of New York. 
 (b) Submission to Jurisdiction. With respect to any suit, action or proceedings
relating to this Agreement (collectively, “Proceedings”), each party hereto irrevocably (i) submits to the non-exclusive jurisdiction of the courts of the State of New York and the United
States District Court located in the Borough of Manhattan in New York City and (ii) waives any objection which it may have at any time to the laying of venue of any Proceedings brought in any such court, waives any claim that such Proceedings
have been brought in an inconvenient forum and further waives the right to object, with respect to such Proceedings, that such court does not have any jurisdiction over such party. Nothing in this Agreement precludes the Financing Provider from
bringing Proceedings in any other jurisdiction. 

  
 - 25 - 

 (c) Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 8.07. Counterparts. This Agreement may be executed in any number of counterparts by facsimile or other written form of communication, each of
which shall be deemed to be an original as against the party whose signature appears thereon, and all of which shall together constitute one and the same instrument. 

SECTION 8.08. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this
Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 
 SECTION 8.09. Confidentiality.
The Information (as defined below) and the contents of this Agreement are confidential and shall not be disclosed to any third party, and no party hereto shall make any public announcement relating to this Agreement without consent of each other
party (except that the Company may make such an announcement by way of a press release, filing a Form 8-K or other periodic report with the Securities and Exchange Commission, or as otherwise required by
applicable law or regulation); except that disclosure by any party of this Agreement and its terms, or by the Financing Provider of the Information, is permitted (i) to its Affiliates and to its and its Affiliates’ respective partners,
directors, officers, employees, agents, attorneys, advisors and other representatives who need to know such Information in connection with the transactions contemplated hereby (it being understood that (A) the Persons to whom such disclosure is
made will be informed of the confidential nature of such Information and instructed to keep such Information confidential to the same extent as provided in this Section 8.09 and (B) it will be responsible for its Affiliates’
compliance with this Section 8.09), (ii) to the extent requested by any regulatory agency or authority with competent jurisdiction over it or its Affiliates (including any self-regulatory authority), (iii) where required or appropriate in
response to any summons, subpoena, or otherwise in connection with any litigation or regulatory inquiry or to comply with any applicable law, order, regulation, ruling, or disclosure requirement, including without limitation, any requirement of any
regulatory body or stock exchange where the shares of such disclosing party are listed, as determined by the disclosing party in good faith following consultation with the other party hereto, (iv) to any other party hereto or to any rating
agency in connection with rating any Company Party, (v) in connection with the exercise of any remedies hereunder or under any other Facility Document or any action or proceeding relating to this Agreement or any other Facility Document or the
enforcement of rights hereunder or thereunder, (vi) subject to an agreement containing provisions substantially the same as those of this Section 8.09, to any assignee of or participant in, or any prospective assignee of or participant in,
any of its rights or obligations under this Agreement; provided that such Person would be permitted to be an assignee or participant pursuant to the terms hereof, (vii) on a confidential basis to (A) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to any Company Party or any of their obligations or (B) any market data service, (viii) with the prior written consent of the Company or (ix) to the extent
such Information (A) becomes publicly available other than as a result of a breach of this Section 8.09 or (B) becomes available to the Financing Provider or any of its Affiliates on a nonconfidential basis from a source other than
the Company or its Affiliates and is not actually known by it to be in breach of any other Person’s confidentiality obligations to the Company. Notwithstanding the foregoing or any other provision in this Agreement or any other document, the
Company, the Initial Purchaser and the Financing Provider (and each employee, representative, or other agent of the Company, the Initial Purchaser and the Financing Provider) may each disclose to any and all persons, without limitation of any kind,
the U.S. tax treatment and U.S. tax structure of the transaction 

  
 - 26 - 

 
and all materials of any kind (including opinions or other tax analyses) that are provided to them relating to such U.S. tax treatment and U.S. tax structure (as those terms are used in
Treasury Regulations under Sections 6011, 6111 and 6112 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”)), other than any information for which nondisclosure is reasonably necessary in order to
comply with applicable securities laws. 
 For purposes of this Section 8.09, “Information” means all information
provided by the Company or the Initial Purchaser to the Financing Provider in connection with this Agreement or the transactions contemplated herein relating to the Company or any of its businesses or any portfolio investment (including information
delivered pursuant to Section 2.01), other than any such information that is available to the Financing Provider on a nonconfidential basis prior to disclosure by the Company or the Initial Purchaser (as applicable) and is not actually known by
it to be in breach of any other Person’s confidentiality obligations to the Company or the Initial Purchaser (as applicable). Any Person required to maintain the confidentiality of Information as provided in this Section 8.09 shall be
considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

SECTION 8.10. Savings Clause. Notwithstanding any provision to the contrary herein or in the Facility Documents, the parties acknowledge and agree that
(a) the amount of any Obligations owed by the Company to the Financing Provider pursuant to Section 4.01(a) shall be calculated by deducting from such amounts any and all Interest Proceeds that the Financing Provider actually receives in
its capacity as holder of any Portfolio Investment and (b) any and all Interest Proceeds and other amounts actually received by the Financing Provider in such capacity on or after the date hereof, to the extent not deducted from any Obligations
pursuant to the foregoing clause (a), shall be payable to the Company. 
 [remainder of page intentionally blank] 

  
 - 27 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
by their respective authorized officers as of the day and year first above written. 
  

					
	BLACKSTONE PRIVATE CREDIT FUND
		
	By	 	 /s/ Stephan Kuppenheimer

		 	Name:	 	Stephan Kuppenheimer
		 	Title:	 	Chief Financial Officer
	
	GOLDMAN SACHS BANK USA
		
	By	 	 /s/ Joseph McNeila

		 	Name:	 	Joseph McNeila
		 	Title:	 	Managing Director

  

  
 - 28 - 

 SCHEDULE 1 

FORM OF PURCHASE REQUEST 
 [to be
agreed upon by the parties hereto] 

 SCHEDULE 2 

Terms of Distressed Facility Sale Confirmation 

Trade Date: The Facility Sale Date 
 Seller:
Goldman Sachs Bank USA 
 Buyer: The Applicable Purchaser as of the Facility Sale Date 

Credit Agreement: The “Credit Agreement” specified in the relevant Purchase Request (as amended from time to time) 

Borrower: The “Borrower” specified in the relevant Purchase Request 

Form of Purchase: Assignment Only 
 Purchase
Amount/Type of Debt: 
 Purchase Amount: The Outstanding Principal Amount 

Type of Debt: Term Loan or as otherwise agreed in writing by the parties 

Facility: The “Facility” specified in the relevant Purchase Request 

CUSIP Number: The “CUSIP Number” specified in the relevant Purchase Request 

Purchase Rate: The Facility Purchase Price 
 Accrued
Interest: Trades Flat 
 Credit Documents to be provided by Seller: No, unless requested in writing by the Applicable Purchaser; provided that
any such request will contain a representation by the Applicable Purchaser that it is not a lender with respect to such Portfolio Investment 

Collateral Annex Applicable: No 
 Collateral Account
Institution: Not applicable 
 LSTA Standard Other Terms of Trade: None 

Trade Specific Other Terms of Trade: [Backup settlement provision to provide that the Financing Provider will be permitted to sell the Portfolio
Investment to a third party and cash settle the difference with the Applicable Purchaser; all Portfolio Investments so sold shall be transferred and assigned to the Applicable Purchaser free and clear of all liens and encumbrances.] 

 SCHEDULE 3 

Terms of Par/Near Par Facility Sale Confirmation 

Trade Date: The Facility Sale Date 
 Seller:
Goldman Sachs Bank USA 
 Buyer: The Applicable Purchaser as of the Facility Sale Date 

Credit Agreement: The “Credit Agreement” specified in the relevant Purchase Request (as amended from time to time) 

Borrower: The “Borrower” specified in the relevant Purchase Request 

Form of Purchase: Assignment Only 
 Purchase
Amount/Type of Debt: 
 Purchase Amount: The Outstanding Principal Amount 

Type of Debt: Term Loan or as otherwise agreed in writing by the parties 

Facility: The “Facility” specified in the relevant Purchase Request 

CUSIP Number: The “CUSIP Number” specified in the relevant Purchase Request 

Purchase Rate: The Facility Purchase Price 
 Upfront
Fee: None 
 Credit Documents to be provided by Seller: No, unless requested in writing by the Applicable Purchaser; provided that any such
request will contain a representation by the Applicable Purchaser that it is not a lender with respect to such Portfolio Investment 
 Collateral Annex
Applicable: No 
 Collateral Account Institution: Not applicable 

Trade Specific Other Terms of Trade: [Backup settlement provision to provide that the Financing Provider will be permitted to sell the Portfolio
Investment to a third party and cash settle the difference with the Applicable Purchaser; to include “trades flat” accrued interest election language; all Portfolio Investments so sold shall be transferred and assigned to the Applicable
Purchaser free and clear of all liens and encumbrances.]EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”), dated as of November 3, 2020, is by and among SENTE MASTER FUND,
L.P. (“SENTE”), VIBRANT AMBAR FUND, LTD. (“Vibrant” and together with SENTE, each a “Seller” and collectively, the “Sellers”) and BLACKSTONE PRIVATE CREDIT FUND
(“Buyer”). 
 WHEREAS, reference is made to (a) the Credit Agreement, dated as of the date hereof, by and among BNP
Paribas, as a lender and the other lenders from time to time party thereto, (collectively, the “Lenders”), Maple Park CLO, Ltd. (the “Issuer”), BNP Paribas, as administrative agent (the “Administrative
Agent”), GSO / Blackstone Debt Funds Management LLC (the “Collateral Manager”) and the Sellers, as the Controlling Subordinated Noteholder, and the other holders of Subordinated Notes from time to time party thereto (as the
same may be amended, modified, supplemented or restated from time to time, the “Credit Agreement”), (b) the Indenture, dated as of the date hereof (as amended and supplemented from time to time, the “Indenture”)
between the Issuer and Wells Fargo Bank, National Association, as trustee, (c) the Subordinated Note Purchase Agreement, dated as of the date hereof, by and between the Issuer and SENTE (as the same may be amended from time to time, the
“Sente Subordinated Note Purchase Agreement”) and (d) the Subordinated Note Purchase Agreement, dated as of the date hereof, by and between the Issuer and Vibrant (as the same may be amended from time to time, the
“Vibrant Subordinated Note Purchase Agreement” and together with the SENTE Subordinated Note Purchase Agreement, each a “Subordinated Note Purchase Agreement” and collectively, the “Subordinated Note
Purchase Agreements”); 
 WHEREAS, pursuant to the Indenture, the Issuer intends to issue certain Subordinated Notes due
November 3, 2030 (the “Subordinated Notes”); 
 WHEREAS, pursuant to the Subordinated Note Purchase Agreements, the
Sellers purchased certain Subordinated Notes (the “Seller Subordinated Notes”); and 
 WHEREAS, upon the occurrence of
(i) a GSO Takeout Obligation Event (as defined below), each Seller wishes to sell to Buyer (or its designee), and Buyer wishes to purchase (or arrange the purchase of) from each Seller, all of such Seller’s right, title and interest in, to
and under the Seller Subordinated Notes or (ii) the exercise of the GSO Takeout Right (as defined below), the Buyer (or its designee) shall have the right, but not the obligation, to purchase (or arrange the purchase of) from each Seller, all
of such Seller’s right, title and interest in, to and under the Seller Subordinated Notes, in each case, subject to the terms and conditions set forth herein and in the Credit Agreement. 

 NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set
forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, intending to be legally bound, the parties hereto agree as follows: 

1. Purchase and Sale. 
 (a)
GSO Takeout Obligation Event. If the Buyer has raised equity capital cumulatively totaling at least $200,000,000 on or prior to April 15, 2021 (a “GSO Takeout Obligation Event”), the Buyer shall be obligated to
execute (or arrange the execution of) a GSO Takeout (as defined in the Credit Agreement) on or prior to April 15, 2021. In connection with its obligation to execute a GSO Takeout, the Buyer shall provide notice to the Sellers, the Issuer and
the Administrative Agent specifying the date on which it intends to purchase the Seller Subordinated Notes (such date of purchase, the “GSO Obligation Purchase Date”), which shall be no earlier than four weeks after the date of such
notice (or such shorter period as the Sellers may agree) and no later than April 15, 2021 (such notice the “GSO Obligation Purchase Notice”); provided that, the notice required by this sentence may be provided prior to
the GSO Takeout Obligation Event. Solely with respect to the first such GSO Obligation Purchase Notice, the Buyer may specify, instead of a single date on which it intends to purchase the Seller Subordinated Notes, a
one-week period (commencing no earlier than the date that is four weeks after the date of such first GSO Obligation Purchase Notice (or such shorter period as the Sellers may agree) and ending no later than
April 15, 2021) within which it intends to purchase the Seller Subordinated Notes (such period, the “GSO Obligation Target Purchase Window”). The Buyer shall be required to provide notice to the Sellers specifying the GSO
Obligation Purchase Date on or prior to the date that is two weeks prior to the first day of the GSO Obligation Target Purchase Window (or such shorter period as the Sellers may agree). The Buyer shall have a
one- time right to rescind such first GSO Obligation Purchase Notice at any time on or prior to the date that is two weeks prior to the first day of the GSO Obligation Target Purchase Window by providing
notice to the Sellers (such notice, the “GSO Obligation Purchase Rescission Notice”); provided that, if the Buyer exercises such right of rescission, the Buyer may simultaneously in the GSO Obligation Purchase Rescission Notice
specify a GSO Obligation Purchase Date that is no earlier than the date that is three weeks after the date of the GSO Obligation Purchase Rescission Notice (or such shorter period as the Sellers may agree) and no later than April 15, 2021. 

(b) GSO Takeout Right. In addition to the obligation to execute a GSO Takeout following the occurrence of a GSO Takeout Obligation
Event, at any time prior to April 15, 2021, upon notice to the Sellers, the Issuer and the Administrative Agent, the Buyer (or its designee) shall have the right, but not the obligation to purchase the Seller Subordinated Notes from the Sellers
(such right, the “GSO Takeout Right”). The date of the purchase (together with the GSO Obligation Purchase Date, each, a “Purchase Date”) shall be no earlier than four weeks after the date on which the Buyer
notifies the Sellers of its intention to purchase the Seller Subordinated Notes (or such shorter period as the Sellers may agree) and no later than April 15, 2021. 

(c) Subject to the terms and conditions set forth herein, on the Purchase Date, each Seller hereby agrees to sell, transfer and assign to Buyer
(or its designee), and Buyer (or its designee) hereby agrees to purchase from each Seller, all of such Seller’s right, title and interest in, to and under all of the Seller Subordinated Notes. The aggregate consideration for the Seller
Subordinated Notes (the “Purchase Price”) shall be equal to the Repurchase Price (as defined in the Indenture) applicable to such Seller Subordinated Notes, as if the Purchase Date were the Redemption Date under the Indenture. For
purposes of calculating the Purchase Price pursuant to this Section 1(c), references to “Pricing Date” in the Indenture shall mean the Purchase Date as defined herein. Notwithstanding anything to the contrary
herein, without the prior written consent of the Controlling Subordinated Noteholder, a GSO Takeout shall not take place by a repurchase or redemption of Seller Subordinated Notes if on the CLO Closing Date or the related Redemption Date the Issuer
does not have sufficient amounts to pay to the Purchase Price as calculated above. 

  
 -2- 

 (d) On the Purchase Date (i) Buyer shall deliver (or arrange the delivery) to the
Sellers the Purchase Price by wire transfer of immediately available funds to the account set forth on Schedule I attached hereto and (ii) Buyer (or its designee) and the Sellers shall deliver to the Issuer, Administrative Agent and
Collateral Manager an executed assignment and assumption agreement substantially in the form attached hereto as Exhibit A, pursuant to which Buyer (or its designee) shall assume each Seller’s rights and obligations under each of the
Credit Agreement and the Subordinated Note Purchase Agreements. 
 (e) The Sellers’ obligation to sell the Seller Subordinated Notes
shall expire on April 15, 2021. 
 (f) The Buyer shall provide notice to the Sellers, the Issuer and the Administrative Agent of the
occurrence of the GSO Takeout Obligation Event within 2 Business Days of such occurrence. 
 2. Representations and Warranties of
Sellers. 
 Each Seller hereby represents and warrants as follows as of the date hereof and as of the Purchase Date: 

(a) Such Seller has been duly organized and is validly existing and in good standing under the laws of the jurisdiction of its organization and
has all corporate power and authority to own, lease and operate its properties and assets and to carry on its business as now conducted. 

(b) This Agreement has been duly executed and delivered by such Seller and (assuming due execution and delivery by the other parties)
constitutes such Seller’s legal, valid and binding obligation, enforceable against such Seller in accordance with its terms. 
 (c) The
Seller Subordinated Notes are free and clear of all liens, pledges, security interests, charges, claims, encumbrances, agreements, options, voting trusts, proxies, adverse claims and other arrangements or restrictions of any kind which in substance
secures payment of an obligation (each, an “Encumbrance”). Upon consummation of the transactions contemplated by this Agreement, Buyer (or its designee) shall own the Seller Subordinated Notes free and clear of all Encumbrances.

 (d) The execution, delivery and performance by such Seller of this Agreement do not conflict with, violate or result in the breach of, or
create any Encumbrance on the Seller Subordinated Notes pursuant to, the organizational documents of such Seller or any material agreement, instrument, order, judgment, decree, law or governmental regulation to which such Seller is a party or is
subject or by which the Seller Subordinated Notes are bound. 
 (e) No governmental, administrative or other third party consents or
approvals are required in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 

(f) There are no actions, suits, claims, investigations or other legal proceedings pending or threatened by such Seller that challenge or seek
to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. There are no actions, suits, claims, investigations or other legal proceedings that have been commenced, or, to the knowledge of such Seller, which are pending or
threatened, against such Seller that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. 

  
 -3- 

 (g) Since the date of its formation, such Seller has been, and currently is, solvent, able
to pay its debts as they become due and has adequate capital to conduct its business. 
 (h) No resolution to wind up or liquidate such
Seller has been adopted by such Seller. No bankruptcy petition or similar proceeding has ever been commenced or filed by such Seller in any jurisdiction. 

3. Representation and Warranties of Buyer. 

Buyer hereby represents and warrants as follows: 

(a) Buyer has been duly organized and is validly existing and in good standing under the laws of the jurisdiction of its organization and has
all corporate power and authority to own, lease and operate its properties and assets and to carry on its business as now conducted. 
 (b)
This Agreement has been duly executed and delivered by Buyer and (assuming due execution and delivery by the other parties) this Agreement constitutes a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its
terms. 
 (c) The execution, delivery and performance by Buyer of this Agreement do not conflict with or violate or result in the breach of
the organizational documents of Buyer or any material agreement, instrument, order, judgment, decree, law or governmental regulation to which Buyer is a party. 

(d) No governmental, administrative or other third party consents or approvals are required by or with respect to Buyer in connection with the
execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 (e) There are no actions, suits,
claims, investigations or other legal proceedings pending or threatened by Buyer that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. There are no actions, suits, claims, investigations or
other legal proceedings pending or, to the knowledge of Buyer, threatened against Buyer that challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. 

(f) Buyer understands that nothing in this agreement or any other materials presented to Buyer in connection with the purchase and sale of the
Seller Subordinated Notes constitutes legal, tax or investment advice and Buyer has consulted such legal, tax and investment advisors and made its own assessments as it, in its sole discretion, has deemed necessary or appropriate in connection with
this purchase of the Seller Subordinated Notes. 

  
 -4- 

 (g) Buyer (i) is a sophisticated entity with such knowledge and experience in financial
and business matters so as to be capable of evaluating the merits and risks of participation in the transactions contemplated herein, (ii) is capable of bearing the economic risks of the transactions contemplated herein, (iii) has, or has
access to, such information as it deems appropriate under the circumstances concerning, among other things, the businesses, financial condition or prospects and litigation issues and outcomes of the Issuer to make an informed decision regarding the
purchase of the Seller Subordinated Notes (including the Purchase Price therefor), and (iv) has independently and without reliance on any Seller (saving each Seller’s representations in Section 2 above) or any other party, and based
on such information as it deems appropriate, made its own analysis and decision to enter into this Agreement and to consummate the transactions contemplated hereby. 

4. Indemnification. 
 Each
party (such party, an “Indemnifying Party”) hereto shall indemnify the other party (such party, an “Indemnified Party”) and hold the Indemnified Party harmless against and in respect of any and all losses,
liabilities, damages, obligations, claims, Encumbrances, costs and expenses (including, without limitation, reasonable attorneys’ fees) incurred by the Indemnified Party directly resulting from any breach of any representation, warranty,
covenant or agreement made by the Indemnifying Party herein; provided, however, that nothing in this Agreement shall be construed as rendering the Indemnifying Party liable to the Indemnified Party or any other party in respect of any indirect,
incidental, special, consequential, exemplary or punitive damages or in respect of damages or claims in the nature of lost revenue, lost income, lost profits or loss of investment opportunities under any theory of law or equity and including where
the Indemnifying Party has been advised as to the possibility of the same. 
 5. Definitions. Capitalized terms used but not defined
herein shall have the respective meanings set forth in the Indenture, or, if not defined therein, the Subordinated Note Purchase Agreements, or, if not defined therein, the Credit Agreement. 

6. Further Assurances. 

Following the date hereof, each of the parties hereto shall execute and deliver such additional documents, instruments, conveyances and
assurances, and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement. 

7. Expenses. 
 All costs and
expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the Buyer. 
 8. Notices.

 All notices, requests, consents, claims, demands, waivers and other communications hereunder (each, a “Notice”) shall be
in writing and addressed to the parties at the addresses set forth below (or to such other address that may be designated by the receiving party from time to time in accordance with this Section 8). All Notices shall be
delivered by personal delivery, nationally recognized overnight courier (with all fees pre-paid), facsimile or e-mail of a PDF document (with confirmation of
transmission) or certified or registered mail (in each case, return receipt requested, postage prepaid). Except as otherwise provided in this Agreement, a Notice is effective only (a) upon receipt by the receiving party, and (b) if the
party giving the Notice has complied with the requirements of this Section 8. 

  
 -5- 

			
	 If to Sellers:
	  	SENTE Master Fund, L.P.
		  	 c/o DFG Investment Advisers, Inc.
 747 Third
Avenue, 38th Floor
 New York, New York 10017
 Attention: Moritz
Hilf
 Telephone No.: 646-747-8478

Facsimile No.: 212-488-1546

Email: mhilf@dfgia.com

		
		  	Vibrant Ambar Fund, Ltd.
		  	 c/o DFG Investment Advisers, Inc.
 747 Third
Avenue, 38th Floor
 New York, New York 10017
 Attention: Moritz
Hilf
 Telephone No.: 646-747-8478

Facsimile No.: 212-488-1546

Email: mhilf@dfgia.com

		
	 If to Buyer:
	  	Blackstone Private Credit Fund
		  	 345 Park Ave
 New York, NY 10154

Attention: Angelina.Perkovic@gsocap.com,

Hailey.Nicholson@gsocap.com, Cesar.Parra@gsocap.com

 9. Entire Agreement. 

This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein,
and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such subject matter. 

10. Successor and Assigns. 

This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted
assigns. No party may assign any of its rights or obligations hereunder without the prior written consent of the other parties hereto, which consent shall not be unreasonably withheld, conditioned or delayed. 

11. Headings. 
 The headings
in this Agreement are for reference only and shall not affect the interpretation of this Agreement. 

  
 -6- 

 12. Amendment and Modification; Waiver. 

This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of
any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power or
privilege arising from this Agreement shall operate or be construed 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. 
 13. Severability. 

If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or
unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be
consummated as originally contemplated to the greatest extent possible. 
 14. Governing Law; Submission to Jurisdiction. 

This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without giving effect to any
choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of New York. Any legal suit, action or proceeding
arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United States in the Southern District of New York or the courts of the State of New York located in the County of New
York in the Borough of Manhattan, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of process, summons, notice or other document by mail to such party’s address set
forth herein shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in
such courts and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. EACH PARTY HERETO WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING RELATING TO, OR BASED UPON, THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH THE DEALINGS OF ANY PARTY IN
CONNECTION WITH ANY OF THE ABOVE, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER IN CONTRACT, TORT OR OTHERWISE. EACH PARTY (I) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF SUCH A SUIT, ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND 

  
 -7- 

 
(II) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS PROVIDED HEREIN. EACH PARTY
HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES TO THE FOREGOING WAIVERS. 

15. Binding Effect; Benefit of Agreement 

The Sellers and the Buyer hereby agree that the Administrative Agent is a third-party beneficiary of this Agreement and, except as otherwise
provided herein, this Agreement shall be binding upon the parties hereto and inure to the benefit of the parties hereto and the Administrative Agent and their respective successors, heirs, executors, legal representatives and transferees. 

16. Counterparts. 
 This
Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile,
e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement. 

[signature page follows] 

  
 -8- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first
written above. 
  

			
	SELLER:
	
	SENTE MASTER FUND, L.P.
	 By: DFG Investment Advisers, Inc.,

    its investment manager

		
	By:	 	 /s/ Moritz Hilf

	Name: Moritz Hilf
	Title: CFO

  
 Maple Park 

Purchase and Sale Agreement 

 
			
	SELLER:
	
	VIBRANT AMBAR FUND, LTD., 
	By: DFG Investment Advisers, Inc.,
	      its investment manager
		
	By:	 	 /s/ Moritz Hilf

	Name: Moritz Hilf
	Title: CFO

  
 Maple Park 

Purchase and Sale Agreement 

 
			
	BUYER:
	
	BLACKSTONE PRIVATE CREDIT FUND
		
	By:	 	 /s/ Marisa J. Beeney

	Name: Marisa J. Beeney
	Title: Chief Compliance Officer, Chief Legal Officer and Secretary

  
 Maple Park 

Purchase and Sale Agreement 

			
	 Consented to as Administrative Agent

under the Credit Agreement:

	
	 BNP PARIBAS,

    as Administrative Agent

		
	By:	 	 /s/ Adnan Zuberi

		 	 Name: Adnan Zuberi
 Title: Managing
Director

		
	By:	 	 /s/ Sohaib Naim

		 	 Name: Sohaib Naim
 Title: Vice
President

  
 Maple Park 

Purchase and Sale Agreement

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