Document:

Exhibit 4.5

 

FTAC HERA ACQUISITION CORP.

 

 DESCRIPTION OF SECURITIES

 

The following summary of the material terms
of the securities of FTAC Hera Acquisition Corp., a Cayman Islands exempted company (“we,” “us,” “our”
or the “Company”), is not intended to be a complete summary of the rights and preferences of such securities and is subject
to and qualified by reference to our amended and restated memorandum and articles of association and the warrant agreement, dated March
3, 2021, between the Company and Continental Stock Transfer & Trust Company (the “Warrant Agreement”), in each case incorporated
by reference as exhibits to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “Report”),
and applicable Cayman Islands law. We urge you to read our amended and restated memorandum and articles of association and the Warrant
Agreement in their entirety for a complete description of the rights and preferences of our securities.

 

We are a Cayman Islands exempted company (company
number 370381) and our affairs are governed by our amended and restated memorandum and articles of association, the Companies Act and
common law of the Cayman Islands. Pursuant to our amended and restated memorandum and articles of association, we are authorized to issue
500,000,000 Class A ordinary shares, $0.0001 par value each, 50,000,000 Class B ordinary shares, $0.0001 par value and 5,000,000
undesignated preference shares, $0.0001 par value each.

 

Units

 

Each unit consists of one Class A ordinary
share and one-fourth of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at
a price of $11.50 per share, subject to adjustment. Warrants must be exercised for one whole Class A ordinary share. The ordinary
shares and warrants comprising the units began separate trading on April 26, 2021.

 

Placement Units

 

The placement units (including the placement shares,
the placement warrants and Class A ordinary shares issuable upon exercise of such warrants) will not be transferable or salable until
30 days after the completion of our initial business combination (subject to limited exceptions) and the placement warrants included
therein will not be redeemable by us (subject to limited exceptions) so long as they are held by our sponsor, Millennium or their permitted
transferees. Holders of our placement units are entitled to certain registration rights. If we do not consummate an initial business combination
by March 8, 2023, the proceeds from the sale of the private placement held in the trust account will be used to fund the redemption of
our public shares (subject to the requirements of applicable law) and the placement units (and the underlying securities) will expire
worthless. Further, if we seek shareholder approval, we will complete our initial business combination only if we receive the approval
of an ordinary resolution under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and
vote at a general meeting of the company. In such case, our initial holders, sponsor and each member of our management team have agreed
to vote their founder shares, placement shares and any public shares purchased during or after the initial public offering in favor of
our initial business combination. Otherwise, the placement units are identical to the units sold in the initial public offering.

 

In order to fund working capital deficiencies or
finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain
of our officers and directors may, but are not obligated to, loan us funds as may be required. Up to $2,000,000 of such loans may be convertible
into units at a price of $10.00 per unit at the option of the lender at the time of the business combination. The units would be identical
to the placement units sold in the private placement.

 

Ordinary Shares

 

There are currently 108,834,700 ordinary shares
issued and outstanding, including:

 

		●	85,147,760 Class A ordinary shares underlying the units
sold in the initial public offering;

 

		●	1,920,000 Class A ordinary shares underlying the placement
units sold in the private placement; and

 

		●	21,766,940 Class B ordinary shares held by our initial
holders.

 

     

     

    

 

Class A ordinary shareholders and Class B
ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders and vote together
as a single class, except as required by law; provided, that holders of our Class B ordinary shares have the right to appoint all
of our directors prior to our initial business combination and holders of our Class A ordinary shares will not be entitled to vote
on the appointment of directors during such time. These provisions of our amended and restated memorandum and articles of association
may only be amended by a special resolution passed by at least 90% of our ordinary shares voting in a general meeting. Unless specified
in the Companies Act, our amended and restated memorandum and articles of association or applicable stock exchange rules, the affirmative
vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by our shareholders (other than
the appointment of directors), and the affirmative vote of a majority of our founder shares is required to approve the appointment of
directors. Approval of certain actions requires a special resolution under Cayman Islands law and pursuant to our amended and restated
memorandum and articles of association; such actions include amending our amended and restated memorandum and articles of association
and approving a statutory merger or consolidation with another company. Directors are appointed for a term of two years. There is no cumulative
voting with respect to the appointment of directors, with the result that the holders of more than 50% of the founder shares voted for
the appointment of directors can appoint all of the directors. Our shareholders are entitled to receive ratable dividends when, as and
if declared by the Board of Directors out of funds legally available therefor.

 

Because our amended and restated memorandum and
articles of association authorize the issuance of up to 500,000,000 Class A ordinary shares, if we were to enter into a business
combination, we may (depending on the terms of such a business combination) be required to increase the number of ordinary shares which
we are authorized to issue at the same time as our shareholders vote on the business combination to the extent we seek shareholder approval
in connection with our initial business combination.

 

In accordance with NASDAQ corporate governance requirements,
we are not required to hold an annual general meeting until no later than one year after our first fiscal year end following our listing
on NASDAQ. There is no requirement under the Companies Act for us to hold annual or general meetings or appoint directors. We may not
hold an annual general meeting prior to the consummation of our initial business combination.

 

We will provide our Class A public shareholders
with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the trust account as of two business days prior to the consummation
of our initial business combination, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding
public shares, subject to the limitations described herein. The amount in the trust account is approximately $10.00 per public share.
The per-share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting
commissions we will pay to the underwriters. Our initial holders, sponsor, officers and directors have entered into a letter agreement
with us, pursuant to which they have agreed to waive their redemption rights with respect to their founder shares and public shares in
connection with the completion of our initial business combination.

 

Unlike many blank check companies that hold shareholder
votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions of public
shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a shareholder vote is
not required by law and we do not decide to hold a shareholder vote for business or other legal reasons, we will, pursuant to our amended
and restated memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the SEC, and file tender
offer documents with the SEC prior to completing our initial business combination. Our amended and restated memorandum and articles of
association require these tender offer documents to contain substantially the same financial and other information about the initial business
combination and the redemption rights as is required under the SEC’s proxy rules. If, however, shareholder approval of the transaction
is required by law, or we decide to obtain shareholder approval for business or other legal reasons, we will, like many blank check companies,
offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules.
If we seek shareholder approval, we will complete our initial business combination only if we receive the approval of an ordinary resolution
under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting
of the company. However, the participation of our sponsor, officers, directors or their affiliates in privately-negotiated transactions,
if any, could result in the approval of our initial business combination even if a majority of our public shareholders vote, or indicate
their intention to vote, against such business combination. For purposes of seeking approval of the majority of our issued and outstanding
ordinary shares, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. We
intend to give approximately 10 days prior written notice of any such meeting, if required, at which a vote shall be taken to approve
our initial business combination.

 

    2

     

    

 

If we seek shareholder approval of our initial business
combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules,
our amended and restated memorandum and articles of association provide that a public shareholder, together with any affiliate of such
shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13
of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the ordinary shares
sold in the initial public offering, which we refer to as the “Excess Shares.” However, we would not be restricting our shareholders’
ability to vote all of their shares (including Excess Shares) for or against our initial business combination. Our shareholders’
inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial business combination, and such
shareholders could suffer a material loss in their investment if they sell such Excess Shares on the open market. Additionally, such shareholders
will not receive redemption distributions with respect to the Excess Shares if we complete the business combination. And, as a result,
such shareholders will continue to hold that number of shares exceeding 15% and, in order to dispose such shares would be required to
sell their shares in open market transactions, potentially at a loss.

 

If we seek shareholder approval in connection with
our initial business combination, our initial holders, sponsor, officers and directors have agreed (and their permitted transferees will
agree), pursuant to the terms of the letter agreement entered into with us, to vote any founder shares and placement shares held by them
and any public shares purchased during or after the initial public offering in favor of our initial business combination. Additionally,
each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction.

 

Pursuant to our amended and restated memorandum
and articles of association, if we are unable to complete our initial business combination by March 8, 2023, we will (i) cease all
operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter,
subject to lawfully available funds therefor, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable and less up to $100,000
of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish
public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject
to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining
shareholders and our Board of Directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide
for claims of creditors and the requirements of other applicable law. Our initial holders, sponsor, officers and directors have entered
into the letter agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust
account with respect to their founder shares if we fail to complete our initial business combination by March 8, 2023. However, if our
initial holders, sponsor, officers or directors acquire public shares after the initial public offering, they will be entitled to liquidating
distributions from the trust account with respect to such public shares if we fail to complete our initial business combination within
the prescribed time period.

 

In the event of a liquidation, dissolution or winding
up of the company after a business combination, our shareholders are entitled to share ratably in all assets remaining available for distribution
to them after payment of liabilities and after provision is made for each class of shares, if any, having preference over the ordinary
shares. Our shareholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to the ordinary
shares, except that we will provide our shareholders with the opportunity to redeem their public shares for cash equal to their pro rata
share of the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable)
upon the completion of our initial business combination, subject to the limitations described herein.

 

    3

     

    

 

Founder Shares

 

The founder shares are identical to the ordinary
shares included in the units sold in the initial public offering, and holders of founder shares have the same shareholder rights as public
shareholders, except that (i) holders of the founder shares have the right to vote on the appointment of directors prior to our initial
business combination, (ii) the founder shares are subject to certain transfer restrictions, as described in more detail below, and
(iii) our initial holders, sponsor, officers and directors have entered into the letter agreement with us, pursuant to which they
have agreed (A) to waive their redemption rights with respect to their founder shares and public shares in connection with the completion
of our initial business combination and (B) to waive their rights to liquidating distributions from the trust account with respect
to their founder shares if we fail to complete our initial business combination by March 8, 2023, although they will be entitled to liquidating
distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination
within such time period and (iv) the founder shares will automatically convert into Class A ordinary shares at the time of our
initial business combination, on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described
herein and in our amended and restated memorandum and articles of association. If we submit our initial business combination to our public
shareholders for a vote, our sponsor, officers and directors have agreed (and their permitted transferees will agree), pursuant to the
terms of the letter agreement entered into with us, to vote any founder shares held by them and any public shares purchased during or
after the initial public offering in favor of our initial business combination.

 

The Class B ordinary shares will automatically
convert into Class A ordinary shares at the time of our initial business combination on a one-for-one basis, subject to adjustment
for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as
provided herein and in our amended and restated memorandum and articles of association. In the case that additional Class A ordinary
shares, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in the initial public offering and
related to the closing of the business combination, the ratio at which Class B ordinary shares shall convert into Class A ordinary
shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such
anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares
issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 20% of the sum of all ordinary shares outstanding
upon completion of the initial public offering and the private placement plus all Class A ordinary shares and equity-linked securities
issued or deemed issued in connection with the business combination (excluding any shares or equity-linked securities issued, or
to be issued, to any seller in the initial business combination, and any private placement-equivalent shares and warrants underlying
units issued to our sponsor or its affiliates upon conversion of loans made to us). The term “equity-linked securities”
refers to any debt or equity securities that are convertible, exercisable or exchangeable for our Class A ordinary shares issued
in a financing transaction in connection with our initial business combination, including but not limited to a private placement of equity
or debt. Securities could be “deemed issued” for purposes of the conversion adjustment if such shares are issuable upon the
conversion or exercise of convertible securities, warrants or similar securities.

 

With certain limited exceptions, the founder shares
are not transferable, assignable or salable (except to our officers and directors and other persons or entities affiliated with our sponsor,
each of whom will be subject to the same transfer restrictions) until (a) with respect to 25% of such shares, until consummation
of our initial business combination, (b) with respect to 25% of such shares, when the closing price of our Class A ordinary
shares (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) exceeds $12.00 for
any 20 trading days within a 30-trading day period following the consummation of our initial business combination, (c) with
respect to 25% of such shares, when the closing price of our Class A ordinary shares (as adjusted for share sub-divisions, share
capitalizations, reorganizations, recapitalizations and the like) exceeds $13.50 for any 20 trading days within a 30-trading day
period following the consummation of our initial business combination, and (d) with respect to 25% of such shares, when the closing
price of our Class A ordinary shares (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations
and the like) exceeds $17.00 for any 20 trading days within a 30-trading day period following the consummation of our initial business
combination or earlier, in any case, if, following a business combination, we complete a liquidation, merger, share exchange, reorganization
or other similar transaction that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities
or other property.

 

    4

     

    

 

Register of Members

 

Under Cayman Islands law, we must keep a register
of members and there shall be entered therein:

 

		●	the names and addresses of the members, a statement of the
shares held by each member, and of the amount paid or agreed to be considered as paid, on the shares of each member and the voting rights
of the shares of each member;

 

		●	whether voting rights are attached to the share in issue;

 

		●	the date on which the name of any person was entered on the
register as a member; and

 

		●	the date on which any person ceased to be a member.

 

Under Cayman Islands law, the register of members
of our company is prima facie evidence of the matters set out therein (i.e. the register of members will raise a presumption of fact on
the matters referred to above unless rebutted) and a member registered in the register of members shall be deemed as a matter of Cayman
Islands law to have legal title to the shares as set against its name in the register of members. However, there are certain limited circumstances
where an application may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct
legal position. Further, the Cayman Islands court has the power to order that the register of members maintained by a company should be
rectified where it considers that the register of members does not reflect the correct legal position. If an application for an order
for rectification of the register of members were made in respect of our ordinary shares, then the validity of such shares may be subject
to re-examination by a Cayman Islands court.

 

Preference Shares

 

Our amended and restated memorandum and articles
of association provide that preference shares may be issued from time to time in one or more series. Our Board of Directors will be authorized
to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and
any qualifications, limitations and restrictions thereof, applicable to the shares of each series. Our Board of Directors will be able
to, without shareholder approval, issue preference shares with voting and other rights that could adversely affect the voting power and
other rights of the holders of the ordinary shares and could have anti-takeover effects. The ability of our Board of Directors to
issue preference shares without shareholder approval could have the effect of delaying, deferring or preventing a change of control of
us or the removal of existing management. We have no preference shares outstanding at the date hereof. Although we do not currently intend
to issue any preference shares, we cannot assure you that we will not do so in the future.

 

Redeemable Warrants

 

Public Shareholders’ Warrants

 

Each whole warrant entitles the registered holder
to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as discussed below, at any time commencing
on the later of 12 months from the closing of the initial public offering or 30 days after the completion of our initial business
combination. The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York
City time, or earlier upon redemption or liquidation.

 

We will not be obligated to deliver any Class A
ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration
statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus
relating thereto is current, subject to our satisfying our obligations described below with respect to registration. No warrant will be
exercisable for cash or on a cashless basis, and we will not be obligated to issue any shares to holders seeking to exercise their warrants,
unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising
holder, or an exemption is available. In the event that the conditions in the two immediately preceding sentences are not satisfied with
respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and
expire worthless. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing
such warrant will have paid the full purchase price for the unit solely for the Class A ordinary share underlying such unit.

 

    5

     

    

 

We have agreed that as soon as practicable, but
in no event later than 20 business days after the closing of our initial business combination, we will use our best efforts to file, and
within 60 business days following our initial business combination to have declared effective, a registration statement covering the Class A
ordinary shares issuable upon exercise of the warrants. We will use our best efforts to cause the same to become effective and to maintain
the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in accordance
with the provisions of the warrant agreement. No warrants will be exercisable for cash unless we have an effective and current registration
statement covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to such Class A
ordinary shares. Notwithstanding the foregoing, if a registration statement covering the Class A ordinary shares issuable upon exercise
of the warrants is not effective within a specified period following the consummation of our initial business combination, warrant holders
may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective
registration statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities
Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be able to
exercise their warrants on a cashless basis.

 

Redemption of warrants for cash when the price
per Class A ordinary share equals or exceeds $18.00.    Once the warrants become exercisable, we may call
the warrants for redemption (except as described herein with respect to the placement warrants):

 

		●	in whole and not in part;

 

		●	at a price of $0.01 per warrant;

 

		●	upon not less than 30 days’ prior written notice
of redemption to each warrant holder; and

 

		●	if, and only if, the closing price of the Class A ordinary
shares equals or exceeds $18.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations
and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which
notice of the redemption is sent to the warrant holders.

 

If and when the warrants become redeemable by us,
we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under all applicable
state securities laws.

 

We have established the last of the redemption criterion
discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise price.
If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant holder will be entitled to
exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A ordinary shares may fall
below the $18.00 redemption trigger price (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations
and the like) as well as the $11.50 (for whole shares) warrant exercise price after the redemption notice is issued.

 

Redemption of warrants for Class A ordinary
shares when the price per Class A ordinary share equals or exceeds $10.00.    Commencing ninety days after
the warrants become exercisable, we may redeem the outstanding warrants:

 

		●	in whole and not in part;

 

		●	at $0.10 per warrant upon a minimum of 30 days’
prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis
prior to redemption and receive that number of shares determined by reference to the table below, based on the redemption date and the
“fair market value” of our Class A ordinary shares (as defined below) except as otherwise described below;

 

    6

     

    

 

		●	if, and only if, the closing price of our Class A ordinary
shares equals or exceeds $10.00 per public share (as adjusted for share sub-divisions, share dividends, reorganizations, reclassifications,
recapitalizations and the like) on the trading day before we send the notice of redemption to the warrant holders;

 

		●	if, and only if, the placement warrants are also concurrently
called for redemption on the same terms as the outstanding public warrants, as described above; and

 

		●	if, and only if, there is an effective registration statement
covering the issuance of Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating thereto
available throughout the 30-day period after written notice of redemption is sent.

 

The numbers in the table below represent the number
of Class A ordinary shares that a warrant holder will receive upon exercise in connection with a redemption by us pursuant to this
redemption feature, based on the “fair market value” of our Class A ordinary shares on the corresponding redemption date
(assuming holders elect to exercise their warrants and such warrants are not redeemed for $0.10 per warrant), determined based on volume
weighted average price of our Class A ordinary shares as reported during the 10 trading days ending on the third trading day prior
to the date on which the notice of redemption is sent to the holders of warrants, and the number of months that the corresponding redemption
date precedes the expiration date of the warrants, each as set forth in the table below.

 

The share prices set forth in the column headings
of the table below will be adjusted as of any date on which the number of shares issuable upon exercise of a warrant or the exercise price
of a warrant is adjusted as set forth under the heading “— Anti-dilution Adjustments” below. If the number of shares
issuable upon exercise of a warrant is adjusted, the adjusted share prices in the column headings will equal the share prices immediately
prior to such adjustment, multiplied by a fraction, the numerator of which is the number of shares deliverable upon exercise of a warrant
immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a warrant as so
adjusted. The number of shares in the table below shall be adjusted in the same manner and at the same time as the number of shares issuable
upon exercise of a warrant. If the exercise price of a warrant is adjusted, (a) in the case of an adjustment pursuant to the fifth
paragraph under the heading “— Anti-dilution Adjustments” below, the adjusted share prices in the column headings
will equal the unadjusted share price multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly
Issued Price as set forth under the heading ” — Anti-dilution Adjustments” and the denominator of which is $10.00
and (b) in the case of an adjustment pursuant to the second paragraph under the heading “— Anti-dilution Adjustments”
below, the adjusted share prices in the column headings will equal the unadjusted share price less the decrease in the exercise price
of a warrant pursuant to such exercise price adjustment.

 

	Redemption Date (period to expiration of warrants)	 	Fair Market Value of Class A Ordinary Shares	 
	 	£10.00	 	 	11.00	 	 	12.00	 	 	13.00	 	 	14.00	 	 	15.00	 	 	16.00	 	 	17.00	 	 	≥18.00	 
	60 months	 	 	0.261	 	 	 	0.281	 	 	 	0.297	 	 	 	0.311	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	57 months	 	 	0.257	 	 	 	0.277	 	 	 	0.294	 	 	 	0.310	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	54 months	 	 	0.252	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.322	 	 	 	0.335	 	 	 	0.347	 	 	 	0.357	 	 	 	0.361	 
	51 months	 	 	0.246	 	 	 	0.268	 	 	 	0.287	 	 	 	0.304	 	 	 	0.320	 	 	 	0.333	 	 	 	0.346	 	 	 	0.357	 	 	 	0.361	 
	48 months	 	 	0.241	 	 	 	0.263	 	 	 	0.283	 	 	 	0.301	 	 	 	0.317	 	 	 	0.332	 	 	 	0.344	 	 	 	0.356	 	 	 	0.361	 
	45 months	 	 	0.235	 	 	 	0.258	 	 	 	0.279	 	 	 	0.298	 	 	 	0.315	 	 	 	0.330	 	 	 	0.343	 	 	 	0.356	 	 	 	0.361	 
	42 months	 	 	0.228	 	 	 	0.252	 	 	 	0.274	 	 	 	0.294	 	 	 	0.312	 	 	 	0.328	 	 	 	0.342	 	 	 	0.355	 	 	 	0.361	 
	39 months	 	 	0.221	 	 	 	0.246	 	 	 	0.269	 	 	 	0.290	 	 	 	0.309	 	 	 	0.325	 	 	 	0.340	 	 	 	0.354	 	 	 	0.361	 
	36 months	 	 	0.213	 	 	 	0.239	 	 	 	0.263	 	 	 	0.285	 	 	 	0.305	 	 	 	0.323	 	 	 	0.339	 	 	 	0.353	 	 	 	0.361	 
	33 months	 	 	0.205	 	 	 	0.232	 	 	 	0.257	 	 	 	0.280	 	 	 	0.301	 	 	 	0.320	 	 	 	0.337	 	 	 	0.352	 	 	 	0.361	 
	30 months	 	 	0.196	 	 	 	0.224	 	 	 	0.250	 	 	 	0.274	 	 	 	0.297	 	 	 	0.316	 	 	 	0.335	 	 	 	0.351	 	 	 	0.361	 
	27 months	 	 	0.185	 	 	 	0.214	 	 	 	0.242	 	 	 	0.268	 	 	 	0.291	 	 	 	0.313	 	 	 	0.332	 	 	 	0.350	 	 	 	0.361	 
	24 months	 	 	0.173	 	 	 	0.204	 	 	 	0.233	 	 	 	0.260	 	 	 	0.285	 	 	 	0.308	 	 	 	0.329	 	 	 	0.348	 	 	 	0.361	 
	21 months	 	 	0.161	 	 	 	0.193	 	 	 	0.223	 	 	 	0.252	 	 	 	0.279	 	 	 	0.304	 	 	 	0.326	 	 	 	0.347	 	 	 	0.361	 
	18 months	 	 	0.146	 	 	 	0.179	 	 	 	0.211	 	 	 	0.242	 	 	 	0.271	 	 	 	0.298	 	 	 	0.322	 	 	 	0.345	 	 	 	0.361	 
	15 months	 	 	0.130	 	 	 	0.164	 	 	 	0.197	 	 	 	0.230	 	 	 	0.262	 	 	 	0.291	 	 	 	0.317	 	 	 	0.342	 	 	 	0.361	 
	12 months	 	 	0.111	 	 	 	0.146	 	 	 	0.181	 	 	 	0.216	 	 	 	0.250	 	 	 	0.282	 	 	 	0.312	 	 	 	0.339	 	 	 	0.361	 
	9 months	 	 	0.090	 	 	 	0.125	 	 	 	0.162	 	 	 	0.199	 	 	 	0.237	 	 	 	0.272	 	 	 	0.305	 	 	 	0.336	 	 	 	0.361	 
	6 months	 	 	0.065	 	 	 	0.099	 	 	 	0.137	 	 	 	0.178	 	 	 	0.219	 	 	 	0.259	 	 	 	0.296	 	 	 	0.331	 	 	 	0.361	 
	3 months	 	 	0.034	 	 	 	0.065	 	 	 	0.104	 	 	 	0.150	 	 	 	0.197	 	 	 	0.243	 	 	 	0.286	 	 	 	0.326	 	 	 	0.361	 
	0 months	 	 	—	 	 	 	—	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.323	 	 	 	0.361	 

 

    7

     

    

 

The exact fair market value and redemption date
may not be set forth in the table above, in which case, if the fair market value is between two values in the table or the redemption
date is between two redemption dates in the table, the number of Class A ordinary shares to be issued for each warrant exercised
will be determined by a straight-line interpolation between the number of shares set forth for the higher and lower fair market values
and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable. For example, if the volume
weighted average price of our Class A ordinary shares during the 10 trading days immediately following the date on which the notice
of redemption is sent to the holders of the warrants is $11.00 per share, and at such time there are 57 months until the expiration
of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.277 Class A ordinary
shares for each whole warrant. For an example where the exact fair market value and redemption date are not as set forth in the table
above, if the volume weighted average price of our Class A ordinary shares during the 10 trading days immediately following the date
on which the notice of redemption is sent to the holders of the warrants is $13.50 per share, and at such time there are 38 months
until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.298
Class A ordinary shares for each whole warrant. In no event will the warrants be exercisable on a cashless basis in connection with
this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment). Finally, as reflected in
the table above, if the warrants are out of the money and about to expire, they cannot be exercised on a cashless basis in connection
with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any Class A ordinary shares.

 

This redemption feature differs from the typical
warrant redemption features used in many other blank check offerings, which typically only provide for a redemption of warrants for cash
(other than the placement warrants) when the trading price for the Class A ordinary shares exceeds $18.00 per share for a specified
period of time. This redemption feature is structured to allow for all of the outstanding warrants to be redeemed when the Class A
ordinary shares are trading at or above $10.00 per public share, which may be at a time when the trading price of our Class A ordinary
shares is below the exercise price of the warrants. We have established this redemption feature to provide us with the flexibility to
redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above under “— Redemption
of warrants when the price per Class A ordinary share equals or exceeds $18.00.” Holders choosing to exercise their warrants
in connection with a redemption pursuant to this feature will, in effect, receive a number of shares for their warrants based on an option
pricing model with a fixed volatility input. This redemption right provides us with an additional mechanism by which to redeem all of
the outstanding warrants, and therefore have certainty as to our capital structure as the warrants would no longer be outstanding and
would have been exercised or redeemed. We will be required to pay the applicable redemption price to warrant holders if we choose to exercise
this redemption right and it will allow us to quickly proceed with a redemption of the warrants if we determine it is in our best interest
to do so. As such, we would redeem the warrants in this manner when we believe it is in our best interest to update our capital structure
to remove the warrants and pay the redemption price to the warrant holders.

 

As stated above, we can redeem the warrants when
the Class A ordinary shares are trading at a price starting at $10.00, which is below the exercise price of $11.50, because it will
provide certainty with respect to our capital structure and cash position while providing warrant holders with the opportunity to exercise
their warrants on a cashless basis for the applicable number of shares. If we choose to redeem the warrants when the Class A ordinary
shares are trading at a price below the exercise price of the warrants, this could result in the warrant holders receiving fewer Class A
ordinary shares than they would have received if they had chosen to wait to exercise their warrants for Class A ordinary shares if
and when such Class A ordinary shares were trading at a price higher than the exercise price of $11.50.

 

No fractional Class A ordinary shares will
be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional interest in a share, we will round down
to the nearest whole number of the number of Class A ordinary shares to be issued to the holder. If, at the time of redemption, the
warrants are exercisable for a security other than the Class A ordinary shares pursuant to the warrant agreement (for instance, if
we are not the surviving company in our initial business combination), the warrants may be exercised for such security. At such time as
the warrants become exercisable for a security other than the Class A ordinary shares, the Company (or surviving company) will use
its commercially reasonable efforts to register under the Securities Act the security issuable upon the exercise of the warrants.

 

    8

     

    

 

Redemption procedures and cashless exercise.    If
we call the warrants for redemption as described under “— Redemption of warrants for cash when the price per Class A
ordinary share equals or exceeds $18.00,” our management will have the option to require any holder that wishes to exercise his,
her or its warrant to do so on a “cashless basis” beginning on the third trading day prior to the date on which notice of
the redemption is sent to the holders of warrants. In determining whether to require all holders to exercise their warrants on a “cashless
basis,” our management will consider, among other factors, our cash position, the number of warrants that are outstanding and the
dilutive effect on our shareholders of issuing the maximum number of Class A ordinary shares issuable upon the exercise of our warrants.
If our management takes advantage of this option, all holders of warrants would pay the exercise price by surrendering their warrants
for that number of Class A ordinary shares equal to the lesser of (A) the quotient obtained by dividing (x) the product
of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “fair market value”
(defined below) over the exercise price of the warrants by (y) the fair market value and (B) 0.361. The “fair market value”
will mean the average closing price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior
to the date on which the notice of redemption is sent to the holders of warrants. If our management takes advantage of this option, the
notice of redemption will contain the information necessary to calculate the number of Class A ordinary shares to be received upon
exercise of the warrants, including the “fair market value” in such case. Requiring a cashless exercise in this manner will
reduce the number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption. We believe this feature is an
attractive option to us if we do not need the cash from the exercise of the warrants after our initial business combination. If we call
our warrants for redemption and our management team does not take advantage of this option, our sponsor and its permitted transferees
would still be entitled to exercise their placement warrants for cash or on a cashless basis using the same formula described above that
other warrant holders would have been required to use had all warrant holders been required to exercise their warrants on a cashless basis,
as described in more detail below.

 

A holder of a warrant may notify us in writing in
the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the extent that
after giving effect to such exercise, such person (together with such person’s affiliates), to the warrant agent’s actual
knowledge, would beneficially own in excess of 4.9% or 9.8% (as specified by the holder) of the Class A ordinary shares issued and
outstanding immediately after giving effect to such exercise.

 

Anti-dilution Adjustments.    If
the number of issued and outstanding Class A ordinary shares is increased by a capitalization payable in Class A ordinary shares,
or by a sub-division of Class A ordinary shares or other similar event, then, on the effective date of such capitalization,
sub-division or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be increased
in proportion to such increase in the issued and outstanding Class A ordinary shares. A rights offering to holders of Class A
ordinary shares entitling holders to purchase Class A ordinary shares at a price less than the fair market value will be deemed a
capitalization of a number of Class A ordinary shares equal to the product of (i) the number of Class A ordinary shares
actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible
into or exercisable for Class A ordinary shares) multiplied by (ii) one (1) minus the quotient of (x) the price per
Class A ordinary share paid in such rights offering divided by (y) the fair market value. For these purposes (i) if the
rights offering is for securities convertible into or exercisable for Class A ordinary shares, in determining the price payable for
Class A ordinary shares, there will be taken into account any consideration received for such rights, as well as any additional amount
payable upon exercise or conversion and (ii) fair market value means the volume weighted average price of Class A ordinary shares
as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the Class A ordinary
shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

 

In addition, if we, at any time while the warrants
are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to the holders of Class A
ordinary shares on account of such Class A ordinary shares (or other ordinary shares into which the warrants are convertible), other
than (a) as described above, (b) certain ordinary cash dividends/any cash dividends or cash distributions which, when combined
on a per share basis with all other cash dividends and cash distributions paid on the Class A ordinary shares during the 365-day period
ending on the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to appropriately reflect any other
adjustments and excluding cash dividends or cash distributions that resulted in an adjustment to the exercise price or to the number of
Class A ordinary shares issuable on exercise of each warrant) but only with respect to the amount of the aggregate cash dividends
or cash distributions equal to or less than $0.50 per share, (c) to satisfy the redemption rights of the holders of Class A
ordinary shares in connection with a proposed initial business combination, (d) to satisfy the redemption rights of the holders of
Class A ordinary shares in connection with a shareholder vote to amend our amended and restated memorandum and articles of association
to modify the substance or timing of our obligation to redeem 100% of our Class A ordinary shares if we do not complete our initial
business combination by March 8, 2023, or (e) in connection with the redemption of our public shares upon our failure to complete
our initial business combination, then the warrant exercise price will be decreased, effective immediately after the effective date of
such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each Class A ordinary share
in respect of such event.

 

    9

     

    

 

If the number of issued and outstanding Class A
ordinary shares is decreased by a consolidation, combination or reclassification of Class A ordinary shares or other similar event,
then, on the effective date of such consolidation, combination, reclassification or similar event, the number of Class A ordinary
shares issuable on exercise of each warrant will be decreased in proportion to such decrease in issued and outstanding Class A ordinary
shares.

 

Whenever the number of Class A ordinary shares
purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will be adjusted by multiplying
the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the number of Class A
ordinary shares purchasable upon the exercise of the warrants immediately prior to such adjustment, and (y) the denominator of which
will be the number of Class A ordinary shares so purchasable immediately thereafter.

 

In case of any reclassification or reorganization
of the outstanding Class A ordinary shares (other than those described above or that solely affects the par value of such Class A
ordinary shares), or in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or
merger in which we are the continuing corporation and that does not result in any reclassification or reorganization of our outstanding
Class A ordinary shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property
of us as an entirety or substantially as an entirety in connection with which we are dissolved, the holders of the warrants will thereafter
have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the warrants and in lieu of the
Class A ordinary shares immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the
kind and amount of Class A ordinary shares or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would
have received if such holder had exercised their warrants immediately prior to such event. If less than 70% of the consideration receivable
by the holders of Class A ordinary shares in such a transaction is payable in the form of Class A ordinary shares in the successor
entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is
to be so listed for trading or quoted immediately following such event, and if the registered holder of the warrant properly exercises
the warrant within thirty days following public disclosure of such transaction, the warrant exercise price will be reduced as specified
in the warrant agreement based on the Black-Scholes value (as defined in the warrant agreement) of the warrant. The purpose of such
exercise price reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during the
exercise period of the warrants pursuant to which the holders of the warrants otherwise do not receive the full potential value of the
warrants.

 

The warrants were issued in registered form under
a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides
that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision
or correct any mistake, but requires the approval by the holders of at least 65% of the then outstanding public warrants to make any change
that adversely affects the interests of the registered holders. You should review a copy of the warrant agreement for a complete description
of the terms and conditions applicable to the warrants.

 

In addition, if (x) we issue additional Class A
ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination
at an issue price or effective issue price of less than $9.20 per ordinary share (with such issue price or effective issue price to be
determined in good faith by us and in the case of any such issuance to our sponsors or their affiliates, without taking into account any
founder shares held by our initial shareholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”),
(y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon,
available for the funding of our initial business combination on the date of the completion of our initial business combination (net of
redemptions), and (z) the volume-weighted average trading price of our Class A ordinary shares during the 20 trading day
period starting on the trading day prior to the day on which we complete our initial business combination (such price, the “Market
Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115%
of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices described
adjacent to “— Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00” and “—
Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” will be adjusted (to the nearest
cent) to be equal to 100% and 180% of the higher of the Market Value and the Newly Issued Price, respectively.

 

    10

     

    

 

The warrants may be exercised upon surrender of
the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the reverse
side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price (or on a cashless
basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised. The warrant holders
do not have the rights or privileges of holders of Class A ordinary shares and any voting rights until they exercise their warrants
and receive Class A ordinary shares. After the issuance of Class A ordinary shares upon exercise of the warrants, each holder
will be entitled to one vote for each share held of record on all matters to be voted on by shareholders.

 

Warrants may be exercised only for a whole number
of Class A ordinary shares. No fractional shares will be issued upon exercise of the warrants. If, upon exercise of the warrants,
a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number
the number of Class A ordinary shares to be issued to the warrant holder.

 

Placement Warrants

 

Except as described below, the placement warrants
have terms and provisions that are identical to those of the warrants sold as part of the units in the initial public offering. The placement
warrants (including the Class A ordinary shares issuable upon exercise of the placement warrants) will not be transferable, assignable
or salable until 30 days after the completion of our initial business combination (subject to certain limited exceptions) and they
will not be redeemable by us (subject to certain limited exceptions) so long as they are held by our sponsor, Millennium or their permitted
transferees. Our sponsor, Millennium or their permitted transferees, have the option to exercise the placement warrants on a cashless
basis. If the placement warrants are held by holders other than our sponsor, Millennium or their permitted transferees, the placement
warrants will be redeemable by us in all redemption scenarios and exercisable by the holders on the same basis as the warrants included
in the units sold in the initial public offering. Any amendment to the terms of the placement warrants or any provision of the warrant
agreement with respect to the placement warrants will require a vote of holders of at least 65% of the number of the then outstanding
placement warrants.

 

Except as described above under “— Public
Shareholders’ Warrants — Redemption procedures and cashless exercise,” if holders of the placement warrants elect to
exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that number of Class A
ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying
the warrants, multiplied by the excess of the “historical fair market value” (defined below) over the exercise price of the
warrants by (y) the historical fair market value. The “historical fair market value” will mean the average reported closing
price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice
of warrant exercise is sent to the holders of warrants.

 

Certain Differences in Corporate Law

 

Cayman Islands companies are governed by the Companies
Act. The Companies Act is modeled on English Law but does not follow recent English Law statutory enactments, and differs from laws applicable
to United States corporations and their shareholders. Set forth below is a summary of the material differences between the provisions
of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.

 

Mergers and Similar Arrangements.    In
certain circumstances, the Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman
Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction).

 

Where the merger or consolidation is between two
Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing certain prescribed
information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually a majority
of 662/3% in value who attend and vote at a general meeting) of the shareholders of each company; or (b) such
other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder resolution
is required for a merger between a parent company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary
company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company must
be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements
of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will register the
plan of merger or consolidation.

 

    11

     

    

 

Where the merger or consolidation involves a foreign
company, the procedure is similar, save that with respect to the foreign company, the directors of the Cayman Islands exempted company
are required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out
below have been met: (i) that the merger or consolidation is permitted or not prohibited by the constitutional documents of the foreign
company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of
those constitutional documents have been or will be complied with; (ii) that no petition or other similar proceeding has been filed
and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions; (iii) that
no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign
company, its affairs or its property or any part thereof; (iv) that no scheme, order, compromise or other similar arrangement has
been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended
or restricted.

 

Where the surviving company is the Cayman Islands
exempted company, the directors of the Cayman Islands exempted company are further required to make a declaration to the effect that,
having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the foreign company
is able to pay its debts as they fall due and that the merger or consolidated is bona fide and not intended to defraud unsecured creditors
of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving
or consolidated company (a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted
by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the jurisdiction
of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon
the merger or consolidation becoming effective, cease to be incorporated, registered or exist under the laws of the relevant foreign jurisdiction;
and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation.

 

Where the above procedures are adopted, the Companies
Act provides for a right of dissenting shareholders to be paid a payment of the fair value of his shares upon their dissenting to the
merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows (a) the shareholder must
give his written objection to the merger or consolidation to the constituent company before the vote on the merger or consolidation, including
a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is authorized by the vote; (b) within
20 days following the date on which the merger or consolidation is approved by the shareholders, the constituent company must give
written notice to each shareholder who made a written objection; (c) a shareholder must within 20 days following receipt of
such notice from the constituent company, give the constituent company a written notice of his intention to dissent including, among other
details, a demand for payment of the fair value of his shares; (d) within seven days following the date of the expiration of the
period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever
is later, the constituent company, the surviving company or the consolidated company must make a written offer to each dissenting shareholder
to purchase his shares at a price that the company determines is the fair value and if the company and the shareholder agree the price
within 30 days following the date on which the offer was made, the company must pay the shareholder such amount; (e) if the
company and the shareholder fail to agree a price within such 30 day period, within 20 days following the date on which such
30 day period expires, the company (and any dissenting shareholder) must file a petition with the Cayman Islands Grand Court to determine
the fair value and such petition must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements
as to the fair value of their shares have not been reached by the company. At the hearing of that petition, the court has the power to
determine the fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined
to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings
until the determination of fair value is reached. These rights of a dissenting shareholder are not available in certain circumstances,
for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized
interdealer quotation system at the relevant date or where the consideration for such shares to be contributed are shares of any company
listed on a national securities exchange or shares of the surviving or consolidated company.

 

Moreover, Cayman Islands law also has separate statutory
provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, schemes of arrangement will generally
be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the Cayman Islands as
a “scheme of arrangement” which may be tantamount to a merger. In the event that a merger was sought pursuant to a scheme
of arrangement (the procedure of which are more rigorous and take longer to complete than the procedures typically required to consummate
a merger in the United States), the arrangement in question must be approved by a majority in number of each class of shareholders
and creditors with whom the arrangement is to be made and who must in addition represent three-fourths in value of each such class
of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at an annual general meeting,
or extraordinary general meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement
must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express to the court
the view that the transaction should not be approved, the court can be expected to approve the arrangement if it satisfies itself that:

 

		●	we are not proposing to act illegally or beyond the scope
of our corporate authority and the statutory provisions as to majority vote have been complied with;

 

		●	the shareholders have been fairly represented at the meeting
in question;

  

    12

     

    

 

		●	the arrangement is such as a businessman would reasonably
approve; and

 

		●	the arrangement is not one that would more properly be sanctioned
under some other provision of the Companies Act or that would amount to a “fraud on the minority.”

 

If a scheme of arrangement or takeover offer (as
described below) is approved, any dissenting shareholder would have no rights comparable to appraisal rights, which would otherwise ordinarily
be available to dissenting shareholders of United States corporations, providing rights to receive payment in cash for the judicially
determined value of the shares.

 

Squeeze-out Provisions.    When
a takeover offer is made and accepted by holders of 90% of the shares to whom the offer relates is made within four months, the offeror
may, within a two-month period, require the holders of the remaining shares to transfer such shares on the terms of the offer. An
objection can be made to the Grand Court of the Cayman Islands but this is unlikely to succeed unless there is evidence of fraud, bad
faith, collusion or inequitable treatment of the shareholders.

 

Further, transactions similar to a merger, reconstruction
and/or an amalgamation may in some circumstances be achieved through other means to these statutory provisions, such as a share capital
exchange, asset acquisition or control, through contractual arrangements, of an operating business.

 

Shareholders’ Suits.    Maples
and Calder (Cayman) LLP, our Cayman Islands legal counsel, is not aware of any reported class action having been brought in a Cayman
Islands court. Derivative actions have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability
for such actions. In most cases, we will be the proper plaintiff in any claim based on a breach of duty owed to us, and a claim against
(for example) our officers or directors usually may not be brought by a shareholder. However, based both on Cayman Islands authorities
and on English authorities, which would in all likelihood be of persuasive authority and be applied by a court in the Cayman Islands,
exceptions to the foregoing principle apply in circumstances in which:

 

		●	a company is acting, or proposing to act, illegally or beyond
the scope of its authority;

 

		●	the act complained of, although not beyond the scope of the
authority, could be effected if duly authorized by more than the number of votes which have actually been obtained; or

 

		●	those who control the company are perpetrating a “fraud
on the minority.”

 

A shareholder may have a direct right of action
against us where the individual rights of that shareholder have been infringed or are about to be infringed.

 

Enforcement of Civil Liabilities.    The
Cayman Islands has a different body of securities laws as compared to the United States and provides less protection to investors.
Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United States.

 

We have been advised by Maples and Calder (Cayman)
LLP, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us
judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States
or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil
liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those
provisions are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of judgments
obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign
court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes
upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign
judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in
respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds
of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of
the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands Court may
stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

 

    13

     

    

 

Special Considerations for Exempted Companies.    We
are an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies
and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands
may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary
company except for the exemptions and privileges listed below:

 

		●	an exempted company does not have to file an annual return
of its shareholders with the Registrar of Companies;

 

		●	an exempted company’s register of members is not open
to inspection;

 

		●	an exempted company does not have to hold an annual general
meeting;

 

		●	an exempted company may issue shares with no par value;

 

		●	an exempted company may obtain an undertaking against the
imposition of any future taxation (such undertakings are usually given for 20 years in the first instance);

 

		●	an exempted company may register by way of continuation in
another jurisdiction and be deregistered in the Cayman Islands;

 

		●	an exempted company may register as a limited duration company;
and

 

		●	an exempted company may register as a segregated portfolio
company.

 

“Limited liability” means that the
liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances,
such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which
a court may be prepared to pierce or lift the corporate veil).

 

Our Amended and Restated Memorandum and Articles of Association

 

Our amended and restated memorandum and articles
of association contain certain requirements and restrictions relating to the initial public offering that will apply to us until the completion
of our initial business combination. These provisions cannot be amended without a special resolution. As a matter of Cayman Islands law,
a resolution is deemed to be a special resolution where it has been approved by either (i) at least two-thirds (or any higher
threshold specified in a company’s articles of association) of a company’s shareholders who attend and vote at a general meeting
for which notice specifying the intention to propose the resolution as a special resolution has been given; or (ii) if so authorized
by a company’s articles of association, by a unanimous written resolution of all of the company’s shareholders. Our amended
and restated memorandum and articles of association provide that special resolutions must be approved either by at least two-thirds of
our shareholders who attend and vote at a general meeting for which notice specifying the intention to propose the resolution as a special
resolution has been given (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution of all
of our shareholders.

 

Our sponsor will participate in any vote to amend
our amended and restated memorandum and articles of association and will have the discretion to vote in any manner it chooses. Specifically,
our amended and restated memorandum and articles of association provide, among other things, that:

 

		●	if we are unable to complete our initial business combination
by March 8, 2023, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible
but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem 100% of the public shares, at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (which
interest shall be net of taxes payable and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then
outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the
right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of our remaining shareholders and our Board of Directors, liquidate and dissolve;

 

    14

     

    

 

		●	prior to our initial business combination, we may not issue
additional ordinary shares that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote
on any initial business combination;

 

		●	although we do not intend to enter into a business combination
with a target business that is affiliated with our sponsor, our directors or our officers, we are not prohibited from doing so. In the
event we enter into such a transaction, we, or a committee of independent directors, will obtain an opinion from an independent investment
banking firm or another independent firm that commonly renders valuation opinions for the type of company we are seeking to acquire or
an independent accounting firm, that such a business combination is fair to our company from a financial point of view;

 

		●	if a shareholder vote on our initial business combination
is not required by law and we do not decide to hold a shareholder vote for business or other legal reasons, we will offer to redeem our
public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and will file tender offer documents with the
SEC prior to completing our initial business combination which contain substantially the same financial and other information about our
initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act;

 

		●	so long as we obtain and maintain a listing for our securities
on NASDAQ, our initial business combination must occur with one or more target businesses that together have an aggregate fair market
value of at least 80% of our assets held in the trust account (excluding the deferred underwriting commissions and taxes payable on the
income earned on the trust account) at the time of the agreement to enter into the initial business combination;

 

		●	If our shareholders approve an amendment to our amended and
restated memorandum and articles of association that would (i) modify the substance or timing of our obligation to redeem 100% of
our public shares if we do not complete our initial business combination by March 8, 2023 or (ii) with respect to the other provisions
relating to shareholders’ rights or pre-business combination activity, we will provide our public shareholders with the opportunity
to redeem all or a portion of their ordinary shares upon such approval at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable) divided by the number
of then outstanding public shares; and

 

		●	we will not effectuate our initial business combination with
another blank check company or a similar company with nominal operations.

 

In addition, our amended and restated memorandum
and articles of association provide that we will only redeem our public shares so long as (after such redemption) our net tangible assets
will be at least $5,000,001 either prior to or upon consummation of our initial business combination, after payment of the deferred underwriting
commission.

 

The Companies Act permits a company incorporated
in the Cayman Islands to amend its memorandum and articles of association with the approval of the holders of at least two-thirds of
such company’s issued and outstanding ordinary shares who attend and vote in a general meeting. A company’s articles of association
may specify that the approval of a higher majority is required but, provided the approval of the required majority is obtained, any Cayman
Islands exempted company may amend its memorandum and articles of association regardless of whether its memorandum and articles of association
provides otherwise. Accordingly, although we could amend any of the provisions relating to our initial public offering, structure and
business plan which are contained in our amended and restated memorandum and articles of association, we view all of these provisions
as binding obligations to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of
these provisions unless we provide dissenting public shareholders with the opportunity to redeem their public shares.

 

    15

     

    

 

Anti-Money Laundering — Cayman Islands

 

If any person in the Cayman Islands knows or suspects
or has reasonable grounds for knowing or suspecting that another person is engaged in criminal conduct or money laundering or is involved
with terrorism or terrorist financing and property and the information for that knowledge or suspicion came to their attention in the
course of business in the regulated sector, or other trade, profession, business or employment, the person will be required to report
such knowledge or suspicion to (i) the Financial Reporting Authority (“FRA”) of the Cayman Islands, pursuant to the Proceeds
of Crime Act (As Revised) of the Cayman Islands if the disclosure relates to criminal conduct or money laundering, or (ii) a police
officer of the rank of constable or higher, or the FRA, pursuant to the Terrorism Act (As Revised) of the Cayman Islands, if the disclosure
relates to involvement with terrorism or terrorist financing and property. Such a report shall not be treated as a breach of confidence
or of any restriction upon the disclosure of information imposed by any enactment or otherwise.

 

Cayman Islands Data Protection

 

We have certain duties under the Data Protection
Act (As Revised) of the Cayman Islands (the “DPA”) based on internationally accepted principles of data privacy.

 

Privacy Notice

 

Introduction

 

This privacy notice puts our shareholders on notice
that through your investment in the company you will provide us with certain personal information which constitutes personal data within
the meaning of the DPA (“personal data”).

 

In the following discussion, the “company”
refers to us and our affiliates and/or delegates, except where the context requires otherwise.

 

Investor Data

 

We will collect, use, disclose, retain and secure
personal data to the extent reasonably required only and within the parameters that could be reasonably expected during the normal course
of business. We will only process, disclose, transfer or retain personal data to the extent legitimately required to conduct our activities
of on an ongoing basis or to comply with legal and regulatory obligations to which we are subject. We will only transfer personal data
in accordance with the requirements of the DPA, and will apply appropriate technical and organizational information security measures
designed to protect against unauthorized or unlawful processing of the personal data and against the accidental loss, destruction or damage
to the personal data.

 

In our use of this personal data, we will be characterized
as a “data controller” for the purposes of the DPA, while our affiliates and service providers who may receive this personal
data from us in the conduct of our activities may either act as our “data processors” for the purposes of the DPA or may process
personal information for their own lawful purposes in connection with services provided to us.

 

    16

     

    

 

We may also obtain personal data from other public
sources. Personal data includes, without limitation, the following information relating to a shareholder and/or any individuals connected
with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information, signature,
nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank account
details, source of funds details and details relating to the shareholder’s investment activity.

 

Who this Affects

 

If you are a natural person, this will affect you
directly. If you are a corporate investor (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships)
that provides us with personal data on individuals connected to you for any reason in relation your investment in the Company, this will
be relevant for those individuals and you should transmit the content of this Privacy Notice to such individuals or otherwise advise them
of its content.

 

How the Company May Use Your Personal Data

 

The company, as the data controller, may collect,
store and use personal data for lawful purposes, including, in particular:

 

		(i)	where this is necessary for the performance of our rights
and obligations under any purchase agreements;

 

		(ii)	where this is necessary for compliance with a legal and regulatory
obligation to which we are subject (such as compliance with anti-money laundering and FATCA/CRS requirements); and/or

 

		(iii)	where this is necessary for the purposes of our legitimate
interests and such interests are not overridden by your interests, fundamental rights or freedoms.

 

Should we wish to use personal data for other specific
purposes (including, if applicable, any purpose that requires your consent), we will contact you.

 

Why We May Transfer Your Personal Data

 

In certain circumstances, we may be legally obliged
to share personal data and other information with respect to your shareholding with the relevant regulatory authorities such as the Cayman
Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including
tax authorities.

 

We anticipate disclosing personal data to persons
who provide services to us and their respective affiliates (which may include certain entities located outside the US, the Cayman Islands
or the European Economic Area), who will process your personal data on our behalf.

 

The Data Protection Measures We Take

 

Any transfer of personal data by us or our duly
authorized affiliates and/or delegates outside of the Cayman Islands shall be in accordance with the requirements of the DPA.

 

We and our duly authorized affiliates and/or delegates
shall apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful
processing of personal data, and against accidental loss or destruction of, or damage to, personal data.

 

We shall notify you of any personal data breach
that is reasonably likely to result in a risk to your interests, fundamental rights or freedoms or those data subjects to whom the relevant
personal data relates.

 

Certain Anti-Takeover Provisions of our Amended and Restated Memorandum
and Articles of Association

 

Our authorized but unissued ordinary shares and
preference shares are available for future issuances without shareholder approval and could be utilized for a variety of corporate purposes,
including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued
and unreserved ordinary shares and preference shares could render more difficult or discourage an attempt to obtain control of us by means
of a proxy contest, tender offer, merger or otherwise.

 

 

17EX-10.1

 Exhibit 10.1 

FOURTH AMENDMENT TO CREDIT AGREEMENT 

This FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of March 11, 2022 (this “Amendment Agreement”), is by and among ORCC
Financing IV LLC, as borrower (the “Borrower”), Société Générale, as administrative agent (in such capacity, the “Administrative Agent”), State Street Bank and Trust Company, as
collateral agent, collateral administrator and collateral custodian (in such capacities, respectively, the “Collateral Agent”, “Collateral Administrator” and “Custodian”), Cortland Capital Market
Services LLC, as document custodian (the “Document Custodian”), and the lenders party hereto (the “Lenders”). 

PRELIMINARY STATEMENTS 

WHEREAS, the Borrower, the Administrative Agent, the Collateral Agent, the Collateral Administrator, the Custodian, the Document Custodian and
the Lenders are parties to that certain Credit Agreement, dated as of August 2, 2019 (as amended or modified prior to the date hereof, the “Existing Credit Agreement”, and, as further amended or modified and in effect from time
to time, the “Credit Agreement”); and 
 WHEREAS, the parties to the Existing Credit Agreement wish to amend the Existing
Credit Agreement as set forth herein. 
 NOW, THEREFORE, in consideration of the premises and the agreements herein contained, the parties
hereto hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

SECTION 1.1 Defined Terms. Unless otherwise defined herein, capitalized terms used herein (including in the introductory paragraph
and the recitals) have the meanings assigned to such terms in the Existing Credit Agreement. 
 ARTICLE II 

AMENDMENTS 

SECTION 2.1 Amendments to Existing Credit Agreement. The parties to the Existing Credit Agreement agree, effective as of the
Effective Date, subject to the terms and conditions set forth herein and in reliance on the representations, warranties, covenants and agreements contained herein, that the Existing Credit Agreement is hereby amended to delete the stricken text
(indicated textually in the same manner as the following example: stricken text) and to add the bold and
double-underlined text (indicated textually in the same manner as the following example: bold and underlined text) as
set forth on the pages of the Credit Agreement attached as Appendix A hereto. 
 ARTICLE III 

CONDITIONS PRECEDENT 

SECTION 3.1 Conditions Precedent to Effectiveness. This Amendment Agreement shall become effective as of the date on which the
following conditions have been satisfied (such date, the “Effective Date”): 
 (a) The Administrative Agent shall have
received counterparts of this Amendment Agreement, duly executed and delivered, from all of the parties hereto. 

 (b) The Administrative Agent and the Lenders shall have received a legal opinion of counsel
for the Borrower, in form and substance reasonably satisfactory to the Administrative Agent covering such matters as the Administrative Agent may reasonably request. 

(c) The Administrative Agent’s receipt of a good standing certificate for the Borrower issued by the applicable office body of its
jurisdiction of organization and a certified copy of the resolutions of the board of managers or directors (or similar items) of the Borrower approving this Amendment and the transactions contemplated hereby, certified by its secretary or assistant
secretary or other authorized officer. 
 (d) The payment of all fees due and owing to the Agent and the Lenders on or prior to the date of
this Amendment. 
 SECTION 3.2 Notice of Effectiveness. The Administrative Agent shall promptly notify the Borrower in writing
upon the occurrence of the Effective Date. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

The Borrower hereby represents and warrants to the Administrative Agent and each Lender that: 

SECTION 4.1 Amendment Agreement. (a) The execution, delivery and performance by it of this Amendment Agreement are within its
powers and have been duly authorized by all necessary corporate or limited liability company action, (b) it has received all necessary governmental, regulatory or other approvals for the execution and delivery of this Amendment Agreement, and
the execution, delivery and performance by it of this Amendment Agreement do not and will not contravene or conflict with any provision of (i) any law or any governmental rule or regulation applicable to it, except as, individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect, (ii) any order, judgment or decree of any court or other agency of government binding on it or its properties, except as, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect or (iii) any of its Constituent Documents, (c) the execution, delivery and performance by it of this Amendment Agreement does not conflict with, result in a breach of or constitute
(with due notice or lapse of time or both) a default under any of its material contracts, and (d) the Amendment Agreement and the Credit Agreement, as amended by this Amendment Agreement, are legally valid and binding obligations of the
Borrower, enforceable against the Borrower in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable
principles relating to enforceability. 
 SECTION 4.2 Absence of Default. No Default or Event of Default exists or would result
from this Amendment Agreement or the transactions contemplated hereby. 
 SECTION 4.3 Representation and Warranties in Loan
Documents Remain True and Correct. The representations and warranties contained in the Existing Credit Agreement and in the other Loan Documents shall be true and correct in all material respects on and as of the Effective Date 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. 

 ARTICLE V 

MISCELLANEOUS 

SECTION 5.1 Effect of Amendment Agreement to Credit Agreement. Except as expressly set forth herein, this Amendment Agreement
shall not, by implication or otherwise, limit, impair, constitute a waiver of or amendment to, or otherwise affect the rights and remedies of the Administrative Agent or any Lender under the Loan Documents, and shall not alter, modify, amend or in
any way affect any of the terms, conditions, obligations, covenants or agreements contained in any Loan, all of which are ratified and affirmed in all respects and shall continue in full force and effect, except that, on and after the Effective
Date, each reference to the Credit Agreement in the Loan Documents shall mean and be a reference to the Existing Credit Agreement as amended by this Amendment Agreement. Nothing herein shall be deemed to entitle the Borrower to a consent to, or a
waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Loan Documents in similar or different circumstances. This Amendment Agreement is a Loan Document executed
pursuant to the Existing Credit Agreement and shall be construed, administered and applied in accordance with the respective terms and provisions thereof. 

SECTION 5.2 Default or Events of Default. Nothing contained in this Amendment Agreement shall be construed or interpreted or is
intended as a waiver of or limitation on any rights, powers, privileges, or remedies that the Administrative Agent or the Lenders have or may have under the Credit Agreement or any other Loan Document on account of any Default or Event of Default.

 SECTION 5.3 No Novation. Neither this Amendment Agreement nor the amendment of the terms of the Credit Agreement by the terms
of this Amendment Agreements shall extinguish the obligations for the payment of money outstanding under the Credit Agreement or discharge or release the Lien or priority of any Loan Documents. Nothing herein contained shall be construed as a
substitution or novation of the Obligations outstanding under the Credit Agreement or instruments securing the same, which shall remain in full force and effect, except to the extent (if any) expressly set forth herein. Nothing expressed or implied
in this Amendment Agreement or any other document contemplated hereby or thereby shall be construed as a release or other discharge of the Borrower under any Loan Document from any of its obligations and liabilities thereunder, except to the extent
(if any) expressly set forth herein. Each of the Credit Agreement and the other Loan Documents shall remain in full force and effect, until and except as modified hereby. 

SECTION 5.4 Reaffirmation. The Borrower as debtor, grantor, pledgor, assignor, or in other similar capacities in which the
Borrower grants liens or security interests in its properties under the Loan Documents (as modified hereby), hereby ratifies and reaffirms all of its payment and performance obligations and obligations to indemnify, contingent or otherwise, under
each of such documents to which it is a party, and, except to the extent expressly set forth herein, the Borrower hereby ratifies and reaffirms its grant of liens on or security interests in its properties pursuant to the Loan Documents as security
for the Obligations, and confirms and agrees that, except to the extent (if any) expressly set forth herein, such liens and security interests hereafter secure all of the Obligations, including, without limitation, all Obligations hereafter arising
or incurred pursuant to or in connection with this Amendment Agreement, the Credit Agreement or any other 

 
Loan Document. The Borrower does not, and hereby covenant that it will not, contest that the Administrative Agent has and will continue to possess valid and perfected security interests in, and
liens upon, all of the property as set forth in the Loan Documents (as modified hereby). 
 SECTION 5.5 Successors and Assigns.
This Amendment Agreement shall be binding upon the parties hereto and their respective successors and permitted assigns and shall inure to the benefit of the parties hereto and the successors and permitted assigns of the Lenders and the
Administrative Agent. 
 SECTION 5.6 No Representations by Lenders or Administrative Agent. The Borrower hereby acknowledges
that, other than as set forth herein, it has not relied on any representation, written or oral, express or implied, by any Lender or the Administrative Agent in entering into this Fourth Amendment Agreement. 

SECTION 5.7 Headings; Entire Agreement. The headings and captions hereunder are for convenience only and shall not affect the
interpretation or construction of this Amendment Agreement. This Amendment Agreement contains the entire understanding of the parties with regard to the subject matter contained herein. 

SECTION 5.8 Severability. If any provision in or obligation of this Amendment Agreement shall be invalid, illegal or unenforceable
in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 

SECTION 5.9 Counterparts. This Amendment Agreement shall become effective upon the execution of a counterpart hereof by each of
the parties hereto and receipt by the Borrower and the Administrative Agent of written notification of such execution and authorization of delivery thereof. This Amendment Agreement may be executed in any number of counterparts, each of which when
so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment Agreement by facsimile or in
electronic format (i.e., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment Agreement. 

SECTION 5.10 APPLICABLE LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL. THE PROVISIONS OF SECTIONS 12.8, 12.11 AND 12.15 OF
THE CREDIT AGREEMENT ARE HEREBY INCORPORATED INTO THIS AMENDMENT AGREEMENT BY REFERENCE. 
 SECTION 5.11 Electronic Signatures.
The words “execution,” “signed,” “signature,” and words of like import in this Agreement shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same
legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in
Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

 SECTION 5.12 Direction to Collateral Agent, Collateral Administrator and
Custodian. The Borrower, the Administrative Agent and each Lender constituting 100% of the Lenders hereby request, direct and consent to the Collateral Agent’s, the Collateral Administrator’s and the Custodian’s execution of this
Amendment Agreement. In executing this Amendment Agreement, the Collateral Agent, the Collateral Administrator and the Custodian shall have the rights, protections, immunities and indemnities granted to them under the Credit Agreement. 

SECTION 5.13 Substantial Equivalent Fair Market Value. The parties hereto acknowledge and agree that this Amendment Agreement is
being entered into between them pursuant to arms’-length negotiations, and each party further acknowledges and agrees that it has no reason to believe the fair market value of the Loans immediately prior to this Amendment Agreement having been
entered into would not be substantially equivalent to the fair market value of the Loans immediately after this Amendment Agreement has been entered into. 

SECTION 5.14 Fees . On the Fourth Amendment Effective Date, the Borrower shall pay all fees and other expenses as may be due by it
to the Administrative Agent who shall upon receipt thereof distribute such fees to each Lender party to this Amendment Agreement. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the undersigned have caused this Amendment Agreement to be duly executed
and delivered as of the date first above written. 
  

			
	Borrower:
	
	ORCC FINANCING IV LLC, as Borrower
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 [Signature Page to Fourth
Amendment] 

 
			
	Agents:
	
	 SOCIÉTÉ GÉNÉRALE,

as Administrative Agent

		
	By:	 	 
	Name:	 	
	Title:	 	
	
	STATE STREET BANK AND TRUST COMPANY, as Collateral Agent, Collateral Administrator and Custodian
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	CORTLAND CAPITAL MARKET SERVICES LLC, as Document Custodian
		
	By:	 	 
	Name:	 	
	Title:	 	

  

  
 [Signature Page to Fourth
Amendment] 

  

			
	Lenders:
	
	 GREAT AMERICAN INSURANCE COMPANY,

as a Lender

		
	By:	 	 
	Name:	 	
	Title:	 	
	
	 GREAT AMERICAN LIFE INSURANCE COMPANY,

as a Lender

	
	 By: Barings LLC
 as Investment
Adviser.

		
	By:	 	 
	Name:	 	
	Title:	 	
	
	 SOCIÈTÈ GÈNÈRALE,

as a Lender

		
	By:	 	 
	Name:	 	
	Title:	 	

  

  
 [Signature Page to Fourth
Amendment] 

 APPENDIX A 

Amendments to Existing Credit Agreement 

 EXECUTION VERSION 

Conformed through Amendment No. 34, dated as of May 25March 
11, 20212022 

 
  

 
 CREDIT AGREEMENT 

dated as of August 2, 2019 

among 
 ORCC Financing
IV LLC, 
 as Borrower, 

the Lenders Referred to Herein, 

Société Générale, 

as Administrative Agent, 

and 
 State Street Bank
and Trust Company, 
 as Collateral Agent, Collateral Administrator, Custodian 

and 
 Cortland Capital
Market Services LLC 
 Document Custodian 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
	 ARTICLE I
	  	 DEFINITIONS AND INTERPRETATION
	  	 	2	 
			
	 Section 1.1
	  	Definitions	  	 	2	 
	 Section 1.2
	  	Accounting Terms and Determinations and UCC Terms	  	 	72	 
	 Section 1.3
	  	Assumptions and Calculations with respect to Collateral Loans	  	 	72	 
	 Section 1.4
	  	Cross-References; References to Agreements	  	 	75	 
	 Section 1.5
	  	Reference to Secured Parties	  	 	75	 
			
	 ARTICLE II
	  	 THE LOANS
	  	 	75	 
			
	 Section 2.1
	  	The Commitments	  	 	75	 
	 Section 2.2
	  	Making of the Loans	  	 	76	 
	 Section 2.3
	  	Evidence of Indebtedness; Notes	  	 	77	 
	 Section 2.4
	  	Maturity of Loans	  	 	77	 
	 Section 2.5
	  	Interest Rates	  	 	78	 
	 Section 2.6
	  	Commitment Fees	  	 	79	 
	 Section 2.7
	  	Reduction of Commitments; Conversion; Prepayments	  	 	80	 
	 Section 2.8
	  	General Provisions as to Payments	  	 	83	 
	 Section 2.9
	  	Funding Losses	  	 	83	 
	 Section 2.10
	  	Computation of Interest and Fees	  	 	84	 
	 Section 2.11
	  	No Cancellation of Indebtedness	  	 	84	 
			
	 ARTICLE III
	  	 CONDITIONS TO BORROWINGS
	  	 	84	 
			
	 Section 3.1
	  	Effectiveness of Commitments	  	 	84	 
	 Section 3.2
	  	Borrowings and Issuance	  	 	87	 
	 Section 3.3
	  	Borrowings and Issuance	  	 	88	 
			
	 ARTICLE IV
	  	 REPRESENTATIONS AND WARRANTIES OF THE BORROWER
	  	 	89	 
			
	 Section 4.1
	  	Existence and Power	  	 	89	 
	 Section 4.2
	  	Power and Authority	  	 	90	 
	 Section 4.3
	  	No Violation	  	 	90	 
	 Section 4.4
	  	Litigation	  	 	90	 
	 Section 4.5
	  	Compliance with ERISA	  	 	90	 
	 Section 4.6
	  	Environmental Matters	  	 	91	 
	 Section 4.7
	  	Taxes	  	 	91	 
	 Section 4.8
	  	Full Disclosure	  	 	91	 
	 Section 4.9
	  	Solvency	  	 	91	 
	 Section 4.10
	  	Use of Proceeds; Margin Regulations	  	 	91	 
	 Section 4.11
	  	Governmental Approvals	  	 	92	 

  
 -i- 

							
	 Section 4.12
	  	Investment Company Act	  	 	92	 
	 Section 4.13
	  	Representations and Warranties in Loan Documents	  	 	92	 
	 Section 4.14
	  	Ownership of Assets	  	 	92	 
	 Section 4.15
	  	No Default	  	 	92	 
	 Section 4.16
	  	Labor Matters.	  	 	92	 
	 Section 4.17
	  	Subsidiaries/Equity Interests	  	 	92	 
	 Section 4.18
	  	Ranking	  	 	92	 
	 Section 4.19
	  	Representations Concerning Collateral	  	 	93	 
	 Section 4.20
	  	Ordinary Course	  	 	93	 
	 Section 4.21
	  	Compliance with Anti-Corruption Laws and Anti-Money Laundering Laws	  	 	93	 
	 Section 4.22
	  	Compliance with Sanctions	  	 	93	 
			
	 ARTICLE V
	  	 AFFIRMATIVE AND NEGATIVE COVENANTS OF THE BORROWER
	  	 	94	 
			
	 Section 5.1
	  	Information	  	 	94	 
	 Section 5.2
	  	Payment of Obligations	  	 	97	 
	 Section 5.3
	  	Employees	  	 	97	 
	 Section 5.4
	  	Good Standing	  	 	97	 
	 Section 5.5
	  	Compliance with Laws	  	 	97	 
	 Section 5.6
	  	Inspection of Property, Books and Records; Audits; Etc	  	 	97	 
	 Section 5.7
	  	Existence	  	 	98	 
	 Section 5.8
	  	Subsidiaries; Equity Interest	  	 	98	 
	 Section 5.9
	  	Investments	  	 	98	 
	 Section 5.10
	  	Restriction on Fundamental Changes	  	 	98	 
	 Section 5.11
	  	ERISA	  	 	99	 
	 Section 5.12
	  	Liens	  	 	99	 
	 Section 5.13
	  	Business Activities	  	 	99	 
	 Section 5.14
	  	Fiscal Year; Fiscal Quarter	  	 	99	 
	 Section 5.15
	  	Anti-Money Laundering and Anti-Corruption Laws; Sanctions Laws	  	 	99	 
	 Section 5.16
	  	Indebtedness	  	 	100	 
	 Section 5.17
	  	Use of Proceeds	  	 	100	 
	 Section 5.18
	  	Bankruptcy Remoteness; Separateness	  	 	100	 
	 Section 5.19
	  	Amendments, Modifications and Waivers to Collateral Loans	  	 	101	 
	 Section 5.20
	  	Hedging	  	 	102	 
	 Section 5.21
	  	Title Covenants	  	 	103	 
	 Section 5.22
	  	Further Assurances	  	 	103	 
	 Section 5.23
	  	Costs of Transfer Taxes and Expenses	  	 	104	 
	 Section 5.24
	  	Collateral Agent May Perform	  	 	104	 
	 Section 5.25
	  	Notice of Name Change	  	 	105	 
	 Section 5.26
	  	Delivery of Related Contracts	  	 	105	 
	 Section 5.27
	  	Delivery of Proceeds	  	 	105	 
	 Section 5.28
	  	Performance of Obligations	  	 	105	 
	 Section 5.29
	  	Limitation on Dividends	  	 	105	 
	 Section 5.30
	  	Renewal of Credit Estimates	  	 	105	 
	 Section 5.31
	  	Annual Rating Review	  	 	105	 

  
 -ii- 

							
	 Section 5.32
	  	Amendment to Loan Documents	  	 	105	 
	 Section 5.33
	  	Transactions With Affiliates	  	 	106	 
	 Section 5.34
	  	Reports by Independent Accountants	  	 	106	 
	 Section 5.35
	  	Tax Matters as to the Borrower	  	 	107	 
	 Section 5.36
	  	Retention Letter	  	 	108	 
	 Section 5.37
	  	Pool Concentrations	  	 	108	 
	 Section 5.38
	  	Beneficial Ownership Certification	  	 	108	 
	 Section 5.39
	  	Post-Transition S&P CCC Collateral Loans	  	 	108	 
			
	 ARTICLE VI
	  	 EVENTS OF DEFAULT
	  	 	109	 
			
	 Section 6.1
	  	Events of Default	  	 	109	 
	 Section 6.2
	  	Remedies	  	 	112	 
	 Section 6.3
	  	Additional Collateral Provisions	  	 	113	 
	 Section 6.4
	  	Application of Proceeds	  	 	117	 
	 Section 6.5
	  	Capital Contributions	  	 	118	 
			
	 ARTICLE VII
	  	 THE AGENTS
	  	 	118	 
			
	 Section 7.1
	  	Appointment and Authorization	  	 	118	 
	 Section 7.2
	  	Agents and Affiliates	  	 	118	 
	 Section 7.3
	  	Actions by Agent	  	 	119	 
	 Section 7.4
	  	Delegation of Duties; Consultation with Experts	  	 	119	 
	 Section 7.5
	  	Limitation of Liability of Agents	  	 	119	 
	 Section 7.6
	  	Indemnification	  	 	123	 
	 Section 7.7
	  	Credit Decision	  	 	123	 
	 Section 7.8
	  	Successor Agent	  	 	124	 
			
	 ARTICLE VIII
	  	 ACCOUNTS AND COLLATERAL
	  	 	127	 
			
	 Section 8.1
	  	Collection of Money	  	 	127	 
	 Section 8.2
	  	Collection Account	  	 	129	 
	 Section 8.3
	  	Payment Account; Future Funding Reserve Account; Interest Reserve Account; Lender Collateral Account; Closing Expense Account	  	 	132	 
	 Section 8.4
	  	Custodial Account	  	 	136	 
	 Section 8.5
	  	Acquisition of Collateral Loans and Eligible Investments	  	 	138	 
	 Section 8.6
	  	Release of Security Interest in Sold Collateral Loans and Eligible Investments; Release of Security Interests Upon Termination	  	 	138	 
	 Section 8.7
	  	Method of Collateral Transfer	  	 	139	 
	 Section 8.8
	  	Continuing Liability of the Borrower	  	 	140	 
	 Section 8.9
	  	Reports.	  	 	140	 
			
	 ARTICLE IX
	  	 APPLICATION OF MONIES
	  	 	142	 
			
	 Section 9.1
	  	Disbursements of Funds from Payment Account	  	 	142	 

  
 -iii- 

							
	 ARTICLE X
	  	 SALE OF COLLATERAL LOANS; ELIGIBILITY CRITERIA; CONDITIONS TO SALES AND PURCHASES
	  	 	145	 
	 Section 10.1
	  	Sale of Collateral Loans	  	 	145	 
	 Section 10.2
	  	Eligibility Criteria	  	 	148	 
	 Section 10.3
	  	Conditions Applicable to all Sale and Purchase Transactions	  	 	148	 
			
	ARTICLE XI	  	CHANGE IN CIRCUMSTANCES	  	 	149	 
			
	 Section 11.1
	  	Basis for Determining Interest Rate Inadequate or Unfair.Temporary Disruption of Term
SOFR	  	 	149	 
	 Section 11.2
	  	Illegality	  	 	151	 
	 Section 11.3
	  	Increased Cost and Reduced Return	  	 	152	 
	 Section 11.4
	  	Taxes	  	 	153	 
	 Section 11.5
	  	Replacement of Lenders	  	 	157	 
			
	 ARTICLE XII
	  	 MISCELLANEOUS
	  	 	159	 
			
	 Section 12.1
	  	Notices	  	 	159	 
	 Section 12.2
	  	No Waivers	  	 	160	 
	 Section 12.3
	  	Expenses; Indemnification	  	 	160	 
	 Section 12.4
	  	Sharing of Set-Offs	  	 	161	 
	 Section 12.5
	  	Amendments and;
Waivers.	  	 	162	 
	 Section 12.6
	  	Successors and Assigns	  	 	164	 
	 Section 12.7
	  	Collateral; QP Status	  	 	167	 
	 Section 12.8
	  	Governing Law; Submission to Jurisdiction	  	 	167	 
	 Section 12.9
	  	Marshalling; Recapture	  	 	167	 
	 Section 12.10
	  	Counterparts; Integration; Effectiveness	  	 	168	 
	 Section 12.11
	  	Waiver of Jury Trial	  	 	168	 
	 Section 12.12
	  	Survival	  	 	168	 
	 Section 12.13
	  	Domicile of Loans	  	 	168	 
	 Section 12.14
	  	Limitation of Liability	  	 	168	 
	 Section 12.15
	  	Recourse; Non-Petition	  	 	168	 
	 Section 12.16
	  	Confidentiality	  	 	169	 
	 Section 12.17
	  	Special Provisions Applicable to CP Lenders	  	 	170	 
	 Section 12.18
	  	Direction of Collateral Agent	  	 	172	 
	 Section 12.19
	  	Borrowings/Loans Made in the Ordinary Course of Business	  	 	172	 
	 Section 12.20
	  	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	172	 
	 Section 12.21
	  	PATRIOT Act	  	 	173	 
	 Section 12.22
	  	Severability	  	 	173	 

  
 -iv- 

							
	 ARTICLE XIII
	  	 ASSIGNMENT OF CORPORATE SERVICES AGREEMENT AND SALE AND CONTRIBUTION AGREEMENT
	  	 	173	 
			
	 Section 13.1
	  	 Assignment of Corporate Services Agreement and Sale and Contribution Agreement
	  	 	173	 
			
	 ARTICLE XIV
	  	 THE DOCUMENT CUSTODIAN
	  	 	175	 
			
	 Section 14.1
	  	 The Document Custodian
	  	 	175	 
	 Section 14.2
	  	 Document Custodian Compensation
	  	 	178	 
	 Section 14.3
	  	 Limitation on Liability
	  	 	178	 
	 Section 14.4
	  	 Document Custodian Resignation
	  	 	179	 
	 Section 14.5
	  	 Release of Documents
	  	 	179	 
	 Section 14.6
	  	 Return of Related Contracts
	  	 	180	 
	 Section 14.7
	  	 Access to Certain Documentation and Information Regarding the Related Contracts
	  	 	181	 
	 Section 14.8
	  	 Custodian Agent
	  	 	181	 
	 Section 14.9
	  	 Removal and Resignation
	  	 	181	 
	 Section 14.10
	  	 Certain ERISA Matters
	  	 	182	 
			
	 ARTICLE XV
	  	 QFC STAY RULES
	  	 	183	 
			
	 Section 15.1
	  	 Acknowledgement Regarding any Supported QFCs
	  	 	183	 

  
 -v- 

 ANNEXES, SCHEDULES AND EXHIBITS 

 

					
	 Annex A
	  	–  	  	 Commitments

			
	 Schedule A
	  	–  	  	 Approved Appraisal Firms

	 Schedule B
	  	–  	  	 S&P Industry Classifications

	 Schedule C
	  	–  	  	 Diversity Score Calculation

	 Schedule D
	  	–  	  	 S&P Recovery Rate and Default Rate Tables

	 Schedule E
	  	–  	  	 S&P Recovery Rate Matrix

	 Schedule F
	  	–  	  	 S&P Weighted Average Life Matrix

	 Schedule G
	  	–  	  	 S&P CDO Monitor Formula Definitions

			
	 Exhibit A
	  	–  	  	 Form of Note for Loans

	 Exhibit B
	  	–  	  	 Form of Notice of Borrowing

	 Exhibit C
	  	–  	  	 Form of Assignment and Assumption Agreement

	 Exhibit D
	  	–  	  	 Scope of Collateral Report

	 Exhibit E
	  	–  	  	 Scope of Payment Date Report

	 Exhibit F
	  	–  	  	 Scope of Asset-Level Reporting to Lenders

	 Exhibit G
	  	–  	  	 Form of Retention Letter

	 Exhibit H
	  	–  	  	 Form of Related Contract Document Request

	 Exhibit I
	  	–  	  	 Form of Tax Compliance Certificate

	 Exhibit J
	  	–  	  	 Form of Document Checklist

	 Exhibit K
	  	–  	  	 Authorized Representatives of Services Provider

  
 -vi- 

 CREDIT AGREEMENT 

THIS CREDIT AGREEMENT dated as of August 2, 2019, is entered into by and among ORCC FINANCING IV LLC a Delaware limited liability company,
as Borrower, the Lenders party hereto from time to time, SOCIÉTÉ GÉNÉRALE, as Administrative Agent, STATE STREET BANK AND TRUST COMPANY, as Collateral Agent, Collateral Administrator and Custodian, and CORTLAND CAPITAL
MARKET SERVICES LLC, as Document Custodian. 
 W I T N E S S E T H: 

WHEREAS, the Borrower desires that the Revolving Lenders make Revolving Loans, on a revolving basis and the Term Lenders make Term Loans, in
each case to the Borrower on the terms and subject to the conditions set forth in this Agreement, and each Lender is willing to make Loans to the Borrower on the terms and subject to the conditions set forth in this Agreement; 

WHEREAS, the proceeds of the Loans made by the Lenders to the Borrower shall be used by the Borrower to acquire Collateral Loans and as
otherwise specified in Section 5.17, all in accordance with the terms hereof. 
 NOW, THEREFORE, the Borrower, the
Lenders, the Administrative Agent, the Collateral Agent and the Document Custodian hereby agree as follows: 
 GRANTING CLAUSE 

To secure the due and punctual payment and performance of all Obligations, howsoever created, arising or evidenced, whether now or hereafter
existing, in accordance with the terms thereof, the Borrower hereby Grants to the Collateral Agent for the benefit of the Secured Parties a security interest in all of the Borrower’s right, title and interest in and to the following (in each
case, excluding any Margin Stock), whether now owned or hereafter acquired (collectively, the “Pledged Collateral”): 

(a) all Collateral Loans, all other loans and securities of the Borrower whether or not such loans and securities constitute
Collateral Loans, all Related Contracts and Collections with respect thereto, all collateral security granted under any Related Contracts, and all interests in any of the foregoing, whether now or hereafter existing; 

(b) (i) the Custodial Account and all Collateral which is delivered to the Collateral Agent pursuant to the terms hereof
and all payments thereon or with respect thereto, (ii) each of the other Covered Accounts and (iii) Eligible Investments or other investments (whether or not such investments constitute Eligible Investments) acquired with funds on deposit
in the Covered Accounts, and all income or Distributions from the investment of funds in the Covered Accounts; 
 (c) cash,
Money, securities, reserves and other property now or at any time in the possession of the Borrower or which is delivered to or received by the Collateral Agent or its bailee, agent or custodian by the Borrower or on behalf of the Borrower
(including, without limitation, all Eligible Investments and other investments with respect to any Collateral or proceeds thereof); 

 (d) all liens, security interests, property or assets securing or otherwise
relating to any Collateral Loan, Eligible Investment, other investment, Collateral or any Related Contract (collectively, “Related Property”); 

(e) the Interest Hedge Agreements; 

(f) the Sale and Contribution Agreement; 

(g) the Corporate Services Agreement; 

(h) the Account Control Agreement; 

(i) all other accounts, chattel paper, deposit accounts, financial assets, general intangibles, instruments, investment
property, letter-of-credit rights and other supporting obligations relating to the foregoing (in each case as defined in the UCC); 

(j) all other tangible and intangible personal property whatsoever of the Borrower; and 

(k) all products, proceeds, rents and profits of any of the foregoing, all substitutions therefor and all additions and
accretions thereto (whether the same now exist or arise or are acquired), including, without limitation, proceeds of insurance policies insuring any or all of the foregoing, any indemnity or warranty payable by reason of loss or damage to or
otherwise in respect of any of the foregoing or any guaranty. 
 Except as set forth in the Priority of Payments, the Loans are secured by
the foregoing Grant equally and ratably without prejudice, priority or distinction between any Loan and any other Loan by reason of difference in time of borrowing or otherwise. 

ARTICLE I 
 DEFINITIONS
AND INTERPRETATION 
 Section 1.1 Definitions. The following terms, as used herein, have the following meanings: 

“ABR
Borrowing”
 means the borrowing of an ABR Loan pursuant to
Section 2.2. 

“ABR
Loan” means
 a Loan that bears interest at a rate based on the Alternate Base Rate. 

  
 -2- 

 “Account Control Agreement” means the Account Control Agreement among the
Borrower, as debtor, the Collateral Agent, as secured party, and State Street Bank and Trust Company, as depository bank and Securities Intermediary, dated on or about the date hereof. 

“Administrative Agent” means Société Générale, in its capacity as administrative agent for the
Lenders hereunder, and its successors in such capacity. 
 “Administrative Agent Fee” means the fee payable to the
Administrative Agent in arrears on each Quarterly Payment Date, equal to $5,000 per Quarterly Payment Date. 
 “Administrative
Expenses” means, without duplication, fees, expenses (including indemnities and other amounts under Section 12.3) and other amounts due or accrued with respect to any Quarterly Payment Date and any other date fixed
for payment of such amounts (including, with respect to any Quarterly Payment Date, any such amounts that were due and not paid on any prior Quarterly Payment Date) and payable in the following order by the Borrower to: 

(a) first, the Collateral Agent in respect of the Collateral Agent Fee and any fees owed to the Custodian, the
Collateral Administrator, the Securities Intermediary and the Document Custodian, and for the reimbursement of other reasonable and documented Administrative Expenses and disbursements incurred and payable hereunder to the Collateral Agent, the
Collateral Administrator, the Custodian, the Securities Intermediary and the Document Custodian under any Loan Documents, in accordance with the provisions of this Agreement; 

(b) second, the Administrative Agent in respect of the Administrative Agent Fee and for the reimbursement of reasonable
and documented expenses and disbursements incurred and payable hereunder by the Administrative Agent or the Lenders in accordance with the provisions of this Agreement; 

(c) third, on a pro rata basis, the following amounts (excluding indemnities) to the following parties: 

(i) first, to the Services Provider for the reimbursement of reasonable and documented expenses and disbursements
incurred by the Services Provider in accordance with the provisions of this Agreement and the Corporate Services Agreement, including any appraisal fees and any other
out-of-pocket expenses incurred in connection with the Collateral Loans and payable to third parties and including any amounts payable by the Services Provider in
connection with any advances made to protect or preserve rights against an Obligor or to indemnify an agent or representative for lenders pursuant to any Related Contracts (but excluding any Services Fee), and second, to the Borrower for the
reimbursement of reasonable and documented expenses and disbursements incurred by the Borrower in accordance with the provisions of this Agreement and the Corporate Services Agreement, including any out-of-pocket expenses incurred in connection with the Collateral Loans and payable to third parties and including any amounts payable by the Borrower in connection with any advances made to protect or
preserve rights against an Obligor or to indemnify an agent or representative for lenders pursuant to any Related Contracts; 

  
 -3- 

 (ii) Rating Agencies for fees and reasonable and documented expenses in
connection with any rating of the Loans or the Collateral Loans, including fees related to the obtaining of credit estimates by S&P and ongoing Rating Agency surveillance fees; 

(iii) any other Person in respect of any Indemnified Tax incurred on behalf of the Borrower; and 

(iv) any other Person in respect of any other fees or expenses expressly permitted under this Agreement and the documents
delivered pursuant to or in connection with this Agreement and the Loan Documents (including any expenses incurred by the Borrower in connection with the replacement of a Lender pursuant to Section 11.5); and 

(d) fourth, on a pro rata basis, indemnities payable to any Person permitted under this Agreement and the documents
delivered pursuant to or in connection with this Agreement and the Loan Documents not otherwise paid; 
 provided that
Administrative Expenses shall not include (i) any salaries of any employees of the Borrower (for the avoidance of doubt, the Borrower does not pay any salaries) (but Administrative Expenses may include any fees, reimbursements, indemnities,
costs and expenses payable to the directors, managers and/or independent directors or managers of the Borrower) or the Services Provider, (ii) any Increased Costs or (iii) any Services Fees. 

“Administrative Officer” means, (i) when used with respect to the Collateral Agent (or State Street Bank and Trust
Company in each of its capacities under the Loan Documents), any vice president, assistant vice president, treasurer, assistant treasurer, secretary, assistant secretary, trust officer, associate or any other officer of the Collateral Agent who
shall have direct responsibility for the administration of this Agreement or to whom any corporate trust matter is referred within the Corporate Trust Office, because of his or her knowledge of and familiarity with the particular subject and
(ii) when used with respect to the Administrative Agent, any officer within the office of the Administrative Agent at the address listed on the signature pages hereto, including any vice president, assistant vice president, officer of the
Administrative Agent customarily performing functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any matter is referred at such location because of his or her knowledge of and
familiarity with the particular subject. 
 “Administrative Questionnaire” means, with respect to each Lender, an
administrative questionnaire in the form prepared by the Administrative Agent and submitted to the Administrative Agent (with a copy to the Borrower) duly completed by such Lender. 

“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. 

“Affected Lender” means (i) a Lender (or a Participant in the Loans held by any Lender hereunder) that is required to
comply with Article 5 of the Securitisation Regulation or (ii) a financial institution which provides liquidity or credit support arrangements in connection with the Loans and which is required to comply with Article 5 of the Securitisation
Regulation. 

  
 -4- 

 “Affiliate” or “Affiliated” means, with respect to any
Person, (a) any other Person who, directly or indirectly, is in control of, or controlled by, or is under common control with, such Person or (b) any other Person who is a director, officer or employee of (i) such Person,
(ii) any subsidiary or parent company of such Person or (iii) any Person described in clause (a) above; provided that, solely for purposes of the definitions of “Collateral Loan” and “Concentration
Limitations”, the term “Affiliate” as used therein with respect to any Obligor shall not include any Affiliate relationship which may exist solely as a result of direct or indirect ownership of, or control by, a common Financial
Sponsor (except if any such Person or Obligor provides collateral under, guarantees or otherwise supports the obligations of the other such Person or Obligor). 

“Agents” means the Administrative Agent, the Custodian, the Document Custodian, the Collateral Agent, the Collateral
Administrator and the Securities Intermediary, and “Agent” means any of them. 
 “Aggregate Maximum Principal
Balance” means, when used with respect to all or a portion of the Collateral Loans, the sum of the Maximum Principal Balances of all or of such portion of such Collateral Loans. 

“Aggregate Participation Exposure” means, at any time, the Maximum Principal Balance of all Collateral Loans that are in the
form of Participation Interests (other than Closing Date Participation Interests) owned by the Borrower at such time. 
 “Aggregate
Principal Balance” means, when used with respect to all or a portion of the Collateral Loans, the sum of the Principal Balances of all or of such portion of such Collateral Loans. 

“Agreement” means this Credit Agreement, including all amendments, modifications and supplements and any exhibits or
schedules to any of the foregoing, and shall refer to the Agreement as the same may be in effect at the time such reference becomes operative. 

“Alternate Base Rate” means, for any day, a
fluctuatingin any Interest Period with respect to any ABR Loan, a rate of interest per annum
equal to the highest of: 
 (a) the Prime Rate in effect on such day; and 

(b) the Federal Funds Rate in effect on such day plus 1⁄2 of 1% per annum. 
 Any change in the Alternate Base Rate due to a change in the Prime Rate or the
Federal Funds Rate shall be effective from and including the effective day of such change in the Prime Rate or the Federal Funds Rate, respectively. 

The Alternate Base Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer of any
Agent or any Lender. Interest calculated pursuant to clause (a) above will be determined based on a year of 365 days or 366 days, as applicable, and actual days elapsed. Interest calculated pursuant to clause (b) above will be
determined based on a year of 360 days and actual days elapsed. 

  
 -5- 

 “Anti-Corruption Laws” means
any laws, rules and regulations of any jurisdiction applicable from time to time to the Borrower concerning bribery or corruption, including the United States Foreign Corrupt Practices Act of 1977, (15 U.S.C. §
78dd-1, et seq.) and the U.K. Bribery Act 2010. 
 “Anti-Money Laundering Laws”
means any laws, rules and regulations applicable from time to time to the Borrower relating to money laundering or terrorist financing. 

“Applicable Law” means, as to any Person, all applicable Laws binding upon such Person or to which such a Person is subject.

 “Applicable Lending Office” means, with respect to any Lender, the office or offices designated as its “Lending
Office” opposite its name in the signature pages hereto or such other office of such Lender as such Lender may from time to time specify in writing to the Borrower and the Administrative Agent. 

“Applicable Margin” means (i) during the Reinvestment Period,
2.152.30% per annum, and
(ii) thereafter,
2.402.55% per annum. 

“Applicable Rate”
means, (i) ifin the case of a CP Conduit is a Lender with respect to
such Loan and is not a CP LIBOR Lender, the sum of (x) the Cost of Funds Rate for such Loan plus (y) the Applicable
Margin, and (ii) ifin the case of a CP LIBORSOFR Lender or any other Person is a Lender with respect
to such Loan, the sum of (x) the London Interbank Offered
Rate(x) the applicable to
the relevant Interest PeriodBenchmark rate for such Loan plus (y) the Applicable
Margin. 
 “Appraisal” means, with respect to any Collateral Loan, an appraisal of either (A) such Collateral Loan or
(B) the assets securing such Collateral Loan, in each case, that is conducted by an Approved Appraisal Firm on the basis of the fair market value of such Collateral Loan or such assets (that is, the price that would be paid by a willing buyer
to a willing seller of such Collateral Loan or such assets in a commercially reasonable sale on an arm’s-length basis). Any Appraisal required hereunder (i) may be in the form of an update or
reaffirmation by an Approved Appraisal Firm of an Appraisal previously performed by an Approved Appraisal Firm and (ii) shall be provided within five Business Days following completion of such appraisal to the Collateral Agent for purposes of
the Collateral Report. 
 “Appraised Value” means, with respect to any Collateral Loan, the Appraisal value (determined in
Dollars, and which, if Appraisals for both of the following are available, clause (a) below shall govern) of either (a) such Collateral Loan or (b) the assets securing such Collateral Loan, in the case of clause (b), net of estimated
costs of the liquidation of such assets as determined by the applicable Approved Appraisal Firm, in each case as set forth in the related Appraisal or, if a range of values is set forth therein, the midpoint of such values; provided that
(i) the Appraised Value of any Collateral Loan shall in no case be greater than its Maximum Principal Balance and (ii) in the case of clause (b), if the Borrower owns less than 100% of the total lenders’ interests secured by the
assets securing any Collateral Loan or has sold participation interests in such 

  
 -6- 

 
Collateral Loan, then the Appraised Value with respect to such Collateral Loan will be reduced to reflect the proportionate interests of all other lenders or participants secured by such assets
(taking into account the relative seniority of all such lenders and participants) that rank pari passu with or senior to (including with respect to liquidation) the Borrower’s interest under the Collateral Loan. 

“Approved Appraisal Firm” means those entities whose names are set forth on Schedule A, and any
additional entity designated from time to time by the Services Provider (i) that is an independent appraisal firm recognized as being experienced in conducting valuations of loans of the type constituting Collateral Loans, and (ii) that
the Borrower or the Services Provider determines, in accordance with the Servicing Standard, is qualified with respect to each Collateral Loan. In connection with such designation, the Borrower or the Services Provider shall deliver an updated
Schedule A to the Administrative Agent, which updated Schedule A shall replace any previous Schedule A. Notwithstanding the foregoing, at no time may the Borrower, the
Services Provider or any Affiliate thereof be an Approved Appraisal Firm. 
 “Approved Foreign Jurisdiction” means each of
Canada, any Group I Country, any Group II Country or any Group III Country; provided that each such country has a foreign currency issuer credit rating that is at least “AA” by S&P at the time of acquisition
of the related Collateral Loan. 
 “Approved Indices” has the meaning assigned to such term in the definition of
“Eligible Loan Index”. 
 “Approved Lender” means with respect to any Revolving Lender (i) any Lender that
is not a CP Conduit and is a financial institution (including a securities broker-dealer or Affiliate thereof) or other institutional lender with a short-term
rating by S&P of at least A-1 (or an entity whose obligations hereunder are absolutely and unconditionally guaranteed by an entity that has a short-term rating by
S&P of at least A-1 and meets then-current S&P guarantee criteria at such time) and (ii) any Lender that is a CP Conduit (x) whose Commercial
Paper Notes are rated at least A-1 by S&P and (y) that is provided liquidity support by an entity with a short-term rating by S&P of at least A-1; provided, in each case, that any Revolving Lender (including a CP Lender) that has fully funded the Lender Collateral Account in accordance with the provisions set forth in
Sections 8.3(d) and 11.5(b)(i) shall be an Approved Lender notwithstanding that its (or any such parent guarantor’s or its Commercial Paper Notes’) ratings are below such levels; provided
further that all Lenders shall be Approved Lenders. 
 “Assignment and Assumption” means an Assignment and
Assumption Agreement in substantially the form of Exhibit C hereto, entered into by a Lender, an assignee, the Borrower (if applicable) and the Administrative Agent (if applicable). 

“Assumed Investment Rate” means, at any time,
LIBORSOFR (or, if an
Alternate Base Rate is in effect, such Alternate Base Rate) minus 0.50% per annum; provided that the Assumed Investment Rate shall not be less than 0.00%. 

“Authorized Officer” means: 

(a) with respect to each of the Borrower, the Services Provider, the Retention Holder and the Seller, those of its respective
officers, authorized representatives and agents whose signatures and incumbency shall have been certified to the Agents on the Closing Date pursuant to the documents delivered pursuant to Section 3.1 or thereafter from time
to time in substantially similar form; and 

  
 -7- 

 (b) with respect to either Agent or any other bank or trust company acting
as trustee of an express trust or as custodian, an Administrative Officer thereof. 
 Each party may receive and accept a certification of
the authority of any other party as conclusive evidence of the authority of any person to act, and such certification may be considered as in full force and effect until receipt by such other party of written notice to the contrary. 

“Available Tenor” means, as of any date of determination and with respect to the then-current
Benchmark, as applicable, any tenor for such Benchmark or payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the length of an Interest Period pursuant to this Agreement as
of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period”. 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the
applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

“Bail-In Legislation” means (a) with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, the UK Bail-In Legislation. 

“Bank Recovery and Resolution Directive” means Directive 2014/59/EU of the European Parliament and of the Council of the
European Union. 
 “Bankruptcy Code” means Title 11 of the United States Code, entitled “Bankruptcy”, as
amended from time to time, and any successor statute or statutes. 
 “Bankruptcy Law” means the Bankruptcy Code or any
similar federal law or state law for the relief of debtors and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, arrangement, receivership,
interim-receivership, insolvency, reorganization, winding-up or similar debtor relief applicable laws including any laws relating to the compromise or settlement of debt
with creditors or any class of them (including under corporate statutes) of the United States, states thereof or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 

“Base Rate Loans” means Loans accruing interest at an Applicable Rate based upon the Alternate Base Rate. 

  
 -8- 

 “Benchmark” means, initially, LIBOR Term SOFR;
provided that if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to LIBOR or
the then-current BenchmarkTerm SOFR ceases to exist, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 
11.1.Daily
 Simple SOFR or, if Daily Simple SOFR does not or ceases to exist, the Alternate Base Rate; provided further that if the
“Benchmark
” as
determined pursuant to the above would be less than the Floor, the Benchmark will be deemed to be the Floor for purposes of this Agreement. 

“Benchmark Replacement” means, for any Available Tenor, the first alternative set forth in the
order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date: 
 (1) the sum of:
(a) Term SOFR and (b) the related Benchmark Replacement Adjustment; 

(2) the sum of:
(a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment; and 

(3) the sum of:
(a) the alternate benchmark rate that has been selected by the
Administrative Agent and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to
(i) any selection or recommendation of a replacement benchmark
rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a
replacement for the then-current Benchmark for U.S. dollar-denominated syndicated or bilateral credit facilities at such time and (b) the related Benchmark Replacement Adjustment. 
 provided that, in the case of clause (1), such Unadjusted Benchmark Replacement is displayed on a
screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion. If the Benchmark Replacement as determined pursuant to clause (1), (2) or (3) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents. 

“Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current
Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement: 

(1) for purposes of clauses (1) and (2) of the definition of “Benchmark Replacement,” the first alternative set forth in the order below that can be determined by the Administrative Agent: 

(a) the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark
Replacement is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such Benchmark with
the applicable Unadjusted Benchmark Replacement for the applicable Corresponding Tenor; 

  
 -9- 

 (b) the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that would apply to the
fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor; and 

(2) for purposes of clause (3) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative
Agent and the Borrower for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable
Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such
Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated or bilateral credit facilities. 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any
technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining
rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters)
that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market
practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark
Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). 

“Benchmark Replacement Date” means the earliest to occur of the following events with respect to
the then-current Benchmark: 
 (1) in the case of clause
(1) or (2) of the definition of “Benchmark Transition
Event,” the later of (a) the date of the public statement or publication of information referenced therein and
(b) the date on which the administrator of such Benchmark (or the published
component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); 

  
 -10- 

 (2)
in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein; or 

(3) in the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Borrower and Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (New York City
time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is
provided to the Borrower Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Majority Lenders. 

For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day
as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the
“Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event
or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation
thereof). 

“Benchmark Transition Event” means the occurrence of one or more of the following events with
respect to the then-current Benchmark: 
 (1) a
public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available
Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component
thereof); 
 (2) a public statement or publication
of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official with
jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution
authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof)
permanently or indefinitely, provided that, at the time of such statement or
publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or 

(3) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof)
announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer representative. 

  
 -11- 

 For the avoidance of
doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public
statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof). 
 “Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current
Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 11.1 and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document
in accordance with Section 11.1. 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial
Ownership Regulation, which certification shall be substantially similar in form and substance to the form of Certification Regarding Beneficial Owners of Legal Entity Customers published jointly, in May 2018, by the Loan Syndications and Trading
Association and Securities Industry and Financial Markets Association. 
 “Beneficial Ownership Regulation” means
31 C.F.R. § 1010.230. 
 “Benefit Plan” means any of (a) an “employee benefit plan” (as
defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for
purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan. 

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such party. 
 “Bond” means an obligation that (a) constitutes borrowed money and
(b) is in the form of, or represented by, a bond, note, certificated debt security or other debt security (other than any of the foregoing that evidences a Senior Secured Loan, a First Lien/Last Out Loan, a Second Lien Loan, or a Participation
Interest in a Senior Secured Loan, a First Lien/Last Out Loan, a Second Lien Loan). 
 “Borrower” means ORCC Financing IV
LLC, a Delaware limited liability company. 
 “Borrower Materials” is defined in
Section 12.16(c). 
 “Borrower Order” means a written order or request (which may be a standing
order or request) dated and signed in the name of the Borrower by an Authorized Officer of the Borrower or by an Authorized Officer of the Services Provider on behalf of the Borrower, which order or request may also be provided by email or other
electronic communication unless an Agent requests otherwise. 
 “Borrowing” means the borrowing of a Loan pursuant to
Section 2.2. 

  
 -12- 

 “Borrowing Date” means the date of a Borrowing. 

“Break-Even Default Rate” means, with respect to the Loans, the maximum
percentage of defaults, at any time, that the Current Portfolio or the Proposed Portfolio, as applicable, can sustain, as determined by S&P, through application of the S&P CDO Monitor chosen by the Services Provider in accordance with this
Agreement that is applicable to the portfolio of Collateral Loans, which, after giving effect to S&P’s assumptions on recoveries, defaults and timing and to the Priority of Payments, will result in sufficient funds remaining for the payment
of the Loans in full. 
 “Bridge Loan” means any loan or other obligation that (a) is unsecured and is incurred in
connection with a merger, acquisition, consolidation or sale of all or substantially all of the assets of a person or similar transaction and (b) by its terms, is required to be repaid within one year of the incurrence thereof with proceeds
from additional borrowings or other refinancings (it being understood that any such loan or other obligation that has a nominal maturity date of one year or less from the incurrence thereof but has a term-out
or other provision whereby (automatically or at the sole option of the Obligor thereof) the maturity of the indebtedness thereunder may be extended to a later date is not a Bridge Loan). 

“Business Day” means 

(a) except to the extent provided in clause (b) any day except a Saturday, Sunday or a day on which commercial banks in London, England (for purposes of calculating interest rates), New York, New York or in the city in which the Corporate Trust
Office of the Collateral Agent is located (initially being Boston, Massachusetts) or the offices of the Document Custodian (initially being Chicago, Illinois) are authorized or required by law to close; provided that if the location of the
Corporate Trust Office of the Collateral Agent or the offices of the Document Custodian changes at any time, the Collateral Agent or the Document Custodian, as applicable, shall provide prompt written notice of such change to the Borrower, the
Administrative Agent and the
Lenders.;
and 

(b) in relation to Term
SOFR Loans and any interest rate setting, funding, disbursement, settlement or payment of any Term SOFR Loan, any day that is a U.S. Government Securities Business Day. 

“Calculation Date” means the date that is 10 Business Days prior to each Quarterly Payment Date. 

“Cash” means such coin or currency of the United States of America as at the time shall be legal tender for payment of all
public and private debts. 
 “CCC Collateral Loan” means a Collateral Loan (other than a Defaulted Loan) with an S&P
Rating of “CCC+” or lower. 
 “CCC Excess” means the amount equal to the excess of the Maximum Principal Balance
of all CCC Collateral Loans over an amount equal to 20% of the Total Capitalization as of such date of determination; provided that, in determining which of the CCC Collateral Loans shall be included in the CCC Excess, the CCC Collateral
Loans with the lowest Market Value (expressed as a percentage of the Maximum Principal Balance of each such Collateral Loan as of such date of determination) shall be deemed to constitute such CCC Excess. 

  
 -13- 

 “CCC Excess Adjustment Amount” means, as of any date of determination, an
amount equal to the excess, if any, of (i) the Aggregate Principal Balance of all CCC Collateral Loans included in the CCC Excess, over (ii) the lowest of (x) the sum of the Market Values of all CCC Collateral Loans included in the
CCC Excess, (y) the sum of the S&P Recovery Amount of all CCC Collateral Loans included in the CCC Excess and (z) the sum of the carrying value on the books and records of the Borrower (or its Affiliates) of all CCC Collateral Loans
included in the CCC Excess. 
 “CFTC” means the Commodity Futures Trading Commission. 

“Change in Control” means the failure of the Parent to own 100% of the Equity Interests in the Borrower (other than nominal
interests). 
 “Closing Date” means August 2, 2019. 

“Closing Date Participation” means any Collateral Loan held in the form of a Participation Interest acquired by the Borrower
under the Sale and Contribution Agreement on the Closing Date. 
 “Closing Date Portfolio Condition” means the condition
that is satisfied if, (i) the pool of Collateral contains Collateral Loans of no less than 20 different Obligors and (ii) as of the date that is thirty (30) days after the Closing Date or, if earlier, as of the initial Borrowing Date,
each Collateral Quality Test shall be satisfied. 
 “Closing Expense Account” means the trust account established pursuant
to Section 8.3(e). 

“CME Term SOFR
Administrator” means
 CME Group Benchmark Administration Limited, as administrator of the forward-looking term Secured Overnight Financing Rate (or any successor administrator thereof). 

“Code” means the Internal Revenue Code of 1986, as amended, or any successor statute. 

“Collateral” means the Pledged Collateral and all other property and/or rights on or in which a Lien is or is intended to be
granted to the Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement, any of the Loan Documents or any other instruments provided for herein or therein or delivered or to be delivered hereunder or thereunder or in
connection herewith or therewith. 
 “Collateral Administrator” means State Street Bank and Trust Company, in its capacity
as collateral administrator, and any successor thereto. 

  
 -14- 

 “Collateral Administrator Fee” means the fee payable to the Collateral
Administrator in arrears on each Quarterly Payment Date in an amount specified in the Collateral Agent Fee Letter. 
 “Collateral
Agent” means State Street Bank and Trust Company, in its capacity as collateral agent under this Agreement, and its successors in such capacity. 

“Collateral Agent Fee” means the fee payable to the Collateral Agent in arrears on each Quarterly Payment Date in an amount
specified in the Collateral Agent Fee Letter. 
 “Collateral Agent Fee Letter” means the Fee Schedule dated as of the date
hereof, between the Borrower, the Collateral Agent, and the Collateral Administrator, as amended, restated, supplemented or otherwise modified from time to time. 

“Collateral Loan” means a Senior Secured Loan, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest
in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria: 

(a) (i) provides the Borrower (or an agent on behalf of the applicable lenders with respect to such Collateral Loan) with
a valid, perfected security interest in the collateral granted under the applicable Related Contracts at the level of priority indicated therein; constitutes the legal and enforceable obligation of the applicable Obligor (except as enforceability
may be limited by applicable insolvency, bankruptcy or other laws affecting creditors’ rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law); (ii) is owned by the
Borrower free and clear of adverse claims (other than Permitted Liens); (iii) may, under the applicable Related Contracts and Applicable Law, be pledged and assigned by the Borrower to the Collateral Agent; (iv) with respect to which all
steps required by Section 8.7 have been taken (or will be taken as soon as practicable) and in which the Collateral Agent holds (or will hold, once the necessary steps are taken) a
first-priority perfected security interest for the benefit of the Secured Parties; and (v) at the time such Collateral Loan was acquired, was not subject to set-off
or defense (other than a discharge in the event of a subsequent bankruptcy) by the related Obligor and, together with the documentation relating thereto, does not contravene in any material respect any law, rule or regulation applicable to the
Borrower or the Services Provider; 
 (b) is governed by the law of a state of the United States or the law of an Approved
Foreign Jurisdiction; 
 (c) is an obligation of an Eligible Obligor; 

(d) is not an obligation (other than a Revolving Collateral Loan or a Delayed Funding Loan) pursuant to which any future
advances or payments to the Obligor may be required to be made by the Borrower; 
 (e) unless otherwise approved in writing
by the Administrative Agent, the acquisition price (exclusive of the portion thereof attributable to accrued interest) of such Collateral Loan paid by the Borrower therefor is not less than 75% of the Principal Balance thereof; 

  
 -15- 

 (f) is not a Bond (or any other type of debt security that is not a loan or
a Participation Interest), a Defaulted Loan, a Credit Risk Loan, a Synthetic Security, a Bridge Loan, a Structured Finance Obligation, an Equity Security, a Real Estate Loan, a letter of credit or a PIK Loan; 

(g) is not a Zero Coupon Loan, a finance lease or chattel paper; 

(h) is not subject to forfeiture of principal based on a material non-credit related
risk (such as the occurrence of a catastrophe), as reasonably determined by the Borrower, or the Services Provider in accordance with the Servicing Standard; 

(i) is not the subject of an Offer or called for redemption (except for any repayment under a Revolving Collateral Loan of
amounts that may be reborrowed thereunder pursuant to the applicable Related Contract); 
 (j) is denominated and payable in
Dollars (and is not convertible into, or payable in, any other currency); 
 (k) does not constitute Margin Stock; 

(l) provides for the payment or repayment of a stated principal amount in one or more installments on or prior to the stated
maturity thereof; 
 (m) does not subject the Borrower to withholding tax (except for withholding taxes on fees received with
respect to Revolving Collateral Loans or Delayed Funding Loans and withholding taxes imposed under FATCA) unless the relevant Obligor is required to make “gross-up” payments or pay “additional
amounts” in respect of, or otherwise compensate the Borrower for, the full amount of such withholding tax; 
 (n) if
such Collateral Loan is a Participation Interest, then such Participation Interest is acquired from (i) a Selling Institution Domiciled under the laws of the United States (or any state thereof) or any U.S. branch of a Selling Institution
Domiciled outside the United States or (ii) with respect to Collateral Loans the Obligors of which are Domiciled in an Approved Foreign Jurisdiction, a Selling Institution Domiciled in an Approved Foreign Jurisdiction to the extent such Selling
Institution satisfies the S&P Counterparty Criteria; 
 (o) provides for payment of interest at least semi-annually; 
 (p) will not cause the Borrower or the pool of assets to be required to
be registered as an investment company under the Investment Company Act; 
 (q) does not have an “L”,
“p”, “prelim”, “sf” or “t” subscript assigned by S&P; 
 (r) does not have an
“sf” subscript assigned by Moody’s; 

  
 -16- 

 (s) is Registered; 

(t) is not a Cov-Lite Loan unless it is an Eligible
Cov-Lite Loan; 
 (u) either (i) has public ratings from S&P, (ii) has
a derived rating based on criteria of S&P or (iii) the Borrower will obtain credit estimates from S&P on such loan and will apply for such credit estimate within the requisite time period dictated by S&P criteria after acquiring
such loan; and 
 (v) does not have an attached warrant to purchase an Equity Security and does not provide for mandatory
conversion or exchange for Equity Securities; provided that this clause (v) shall not exclude obligations originated with an attached warrant if the Borrower does not acquire such warrant or the right to exercise such warrant. 

“Collateral Quality Test” means a test that is satisfied if, as of any date of determination, in the aggregate, the
Collateral Loans owned (or in relation to a proposed acquisition of a Collateral Loan, both owned and proposed to be owned) by the Borrower satisfy each of the tests set forth below, calculated in each case in accordance with
Section 1.3: 
 (a) the Minimum Weighted Average Spread Test; 

(b) the Maximum Weighted Average Life Test; 

(c) the Minimum Diversity Score Test; 

(d) the Minimum Weighted Average S&P Recovery Rate Test; 

(e) the S&P CDO Monitor Test; and 

(f) the Minimum Weighted Average Coupon Test. 

“Collateral Report” has the meaning set forth in Section 5.1(h). 

“Collateral Report Determination Date” means the date that is 10 Business Days prior to the fifth calendar day of each
calendar month. 
 “Collection Account” means the trust account established pursuant to
Section 8.2(a). 
 “Collections” means, with respect to any Collateral, all principal payments,
interest payments, fees and other payments received by the Borrower with respect thereto and all other amounts paid with respect to such Collateral that are payable to the Borrower, including dividends of any type, distributions with respect thereto
and any proceeds of collateral for, or any guaranty of, such Collateral or the relevant Obligor’s obligation to make payments with respect thereto. 

“Commercial Paper Funding” means, with respect to any Loan funded by a CP Lender, at any time, the funding by a
CP Lender of all or a portion of the outstanding principal amount of such Loan with funds provided by the issuance of Commercial Paper Notes. 

  
 -17- 

 “Commercial Paper Funding Period” means, with respect to any Loan funded by
a CP Conduit, a period of time during which all or a portion of the outstanding principal amount of such Loan is funded by a Commercial Paper Funding. 

“Commercial Paper Notes” means commercial paper notes or secured liquidity notes issued by a CP Conduit or a conduit
providing funding to a CP Conduit from time to time. 
 “Commercial Paper Rate” means, with respect to any Commercial
Paper Funding, a rate per annum equal to the sum of (i) the rate or, if more than one rate, the weighted average of the rates, determined by converting to an interest-bearing equivalent rate per annum
(based on a year of 360 days and actual days elapsed) the discount rate (or rates) at which Commercial Paper Notes are sold by any placement agent or commercial paper dealer of such Commercial Paper Notes and/or a commercial paper conduit
providing funding to a CP Conduit, plus (ii) if not included in the calculations in clause (i), the commissions, fees and charges charged by such placement agent or commercial paper dealer with respect to such Commercial Paper
Notes, incremental carrying costs incurred with respect to such Commercial Paper Notes maturing on dates other than those on which corresponding funds are received by such CP Conduit, other borrowings by such CP Conduit and any other costs
(such as interest rate or currency swaps, the cost of funding odd lots or small dollar amounts) associated with the issuance of Commercial Paper Notes that are allocated, in whole or in part, by such CP Conduit or its Program Manager or funding
agent to fund or maintain such portion of the applicable Loan (and which may be also allocated in part to the funding of other assets of such CP Conduit) and discount on Commercial Paper Notes issued to fund the discount on maturing Commercial
Paper Notes, in all cases expressed as a percentage of the face amount thereof and converted to an interest-bearing equivalent rate per annum (based on a year of 360 days and actual days elapsed). 

“Commitment” means the Revolving Commitments and the Term Commitments. 

“Commitment Fee” has the meaning set forth in Section 2.6(a). 

“Commitment Period” means the period commencing on the Closing Date and ending on the earliest of: 

(a) the time at which the Revolving Commitments are terminated or reduced to zero as provided in this Agreement (whether
pursuant to Article II, Article VI or otherwise); and 
 (b) the last day
of the Reinvestment Period; 
 provided that Commitment Period shall not end unless and until, if necessary, the Future Funding Reserve Loan has been
made. 
 “Commitment Shortfall” means the amount by which: 

(a) the aggregate Unfunded Amount exceeds 

  
 -18- 

 (b) the sum of (i) the aggregate Total Revolving Commitment
minus the aggregate principal amount of the Revolving Loans outstanding at such time (which amount under clause (i) shall not be less than zero), plus (ii) amounts on deposit in the Collection Account, including Eligible
Investments credited thereto, representing Principal Proceeds, plus (iii) amounts on deposit in the Future Funding Reserve Account, including Eligible Investments credited thereto. 

“Commodity Exchange Act” means the Commodity Exchange Act of 1936, as amended. 

“Concentration Limitations” means limitations that are satisfied if, as of any date of determination, in the aggregate, the
Maximum Principal Balance of the Collateral Loans owned (or, in relation to a proposed acquisition of a Collateral Loan, proposed to be owned) by the Borrower comply with all of the requirements set forth below, calculated as a percentage of Total
Capitalization (unless otherwise specified) and in each case in accordance with the procedures set forth in Section 1.3: 

(a) not more than 12.5% consist of Collateral Loans with Obligors in any one S&P Industry Classification, except that,
without duplication, (i) up to 15.0% may consist of Collateral Loans with the Obligor in each of the largest and second largest S&P Industry Classification (other than “Oil, Gas & Consumable Fuels”); 

(b) not more than 5.0% consist of obligations of any one Obligor (and Affiliates thereof); provided that (x) up to
two Obligors (and their respective Affiliates) may each constitute up to 8.0% and (y) up to two Obligors (other than the Obligors described in clause (x)) (and their respective Affiliates) may each constitute up to 6.0%; 

(c) not more than 25.0% consist of First Lien/Last Out Loans and Second Lien Loans; provided that not more than 10.0%
may consist of Second Lien Loans; 
 (d) not more than 10.0% consist of Fixed Rate Obligations; 

(e) not more than 25.0% consist of Eligible Cov-Lite Loans; 

(f) not more than 15.0% consist of DIP Loans; 

(g) not more than 10.0% consist of Current Pay Obligations; 

(h) not more than 10.0% consist of Collateral Loans that permit the payment of interest to be made less frequently than
quarterly; 
 (i) not more than 15.0% consist of Revolving Collateral Loans and the unfunded portion of Delayed Funding
Loans; 
 (j) not more than 10.0% consist of Discount Loans; 

(k) (i) the Aggregate Participation Exposure is not more than 20.0% and (ii) as of the Closing Date, the Maximum Principal
Balance of all Closing Date Participation Interests is not more than 25.0%; 

  
 -19- 

 (l) (i) not less than 85.0% of the Principal Balance of Collateral
Loans may consist of Cash or obligations of Obligors Domiciled in the United States or Canada, and (ii) not more than the percentage listed below may consist of Collateral Loans whose Obligors are Domiciled in the country or countries set forth
opposite each such percentage: 
  

			
	 %
Limit
	  	 Country or Countries

	15.0%	  	 all countries (in the aggregate) other than the United States;

	10.0%	  	 Canada

	5.0%	  	 all countries (in the aggregate) other than the United States, Canada and the
United Kingdom;

	2.5%	  	 any individual Group I Country;

	2.0%	  	 all Group II Countries in the aggregate;

	2.0%	  	 all Group III Countries in the aggregate;

 (m) not more than 20.0% consist of CCC Collateral Loans; 

(n) not more than 10.0% shall consist of Collateral Loans whose Obligors have a trailing twelve month EBITDA of less than
$15,000,000, as measured at the time of such acquisition based on the most recent financial information provided by the Obligor and relied upon for the Services Provider’s investment decision; and 

(o) not more than 5.0% shall consist of Long
DatedLong-Dated Loans. 

“Conduit Assignee” means any multi-seller commercial paper conduit or special purpose
entity funded by a multi-seller commercial paper conduit which is, in either case, administered by a common manager or an Affiliate of a CP Conduit, or the collateral trustee of such entity. 

“Conduit Rating Agency” means each nationally recognized investment rating agency that is then rating the Commercial Paper
Notes of any CP Conduit. 
 “Conduit Support Provider” means, without duplication, (i) a provider of a Credit
Facility or Liquidity Facility to or for the benefit of any CP Conduit, and any guarantor of such provider or (ii) an entity that issues commercial paper or other debt obligations, the proceeds of which are used (directly or indirectly) to
fund the obligations of any CP Conduit. 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on
or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Constituent
Documents” means, in respect of any Person, the certificate or articles of formation or organization, the limited liability company agreement, memorandum and articles of association, operating agreement, partnership agreement, joint venture
agreement or other applicable agreement of formation or organization (or equivalent or comparable constituent documents) and other organizational documents and by-laws and any certificate of incorporation,
certificate of formation, certificate of limited partnership and other agreement, or similar instrument filed or made in connection with its formation or organization, in each case, as the same may be amended, restated, replaced, supplemented or
otherwise modified from time to time. 

  
 -20- 

 “Contingent Obligation” means, as to any Person, without duplication,
(i) any contingent obligation of such Person required to be shown on such Person’s balance sheet in accordance with GAAP, and (ii) any obligation of such Person required to be disclosed in the footnotes to such Person’s financial
statements in accordance with GAAP, guaranteeing partially or in whole any non-recourse Indebtedness, lease, dividend or other obligation, exclusive of contractual indemnities (including, without limitation,
any indemnity or price-adjustment provision relating to the purchase or sale of securities or other assets) and guarantees of non-monetary obligations (other than
guarantees of completion) which have not yet been called on or quantified, of such Person or of any other Person. The amount of any Contingent Obligation described in clause (ii) shall be deemed to be (a) with respect to a guaranty of
interest or interest and principal, or operating income guaranty, the sum of all payments required to be made thereunder (which in the case of an operating income guaranty shall be deemed to be equal to the debt service for the note secured
thereby), calculated at the applicable interest rate, through (i) in the case of an interest or interest and principal guaranty, the stated date of maturity of the obligation (and commencing on the date interest could first be payable
thereunder), or (ii) in the case of an operating income guaranty, the date through which such guaranty will remain in effect, and (b) with respect to all guarantees not covered by the preceding clause (a), an amount equal to the
stated or determinable amount of the primary obligation in respect of which such guaranty is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform
thereunder) as recorded on the balance sheet and on the footnotes to the most recent financial statements of the Borrower required to be delivered pursuant to Section 5.1 hereof. Notwithstanding anything contained herein to
the contrary, guarantees of completion shall not be deemed to be Contingent Obligations unless and until a claim for payment or performance has been made thereunder by the person entitled to performance or payment thereunder, at which time any such
guaranty of completion shall be deemed to be a Contingent Obligation in an amount equal to any such claim. Subject to the preceding sentence, (i) in the case of a joint and several guaranty given by such Person and another Person (but only to
the extent such guaranty is directly or indirectly recourse to such Person), the amount of the guaranty, to the extent it is directly or indirectly recourse to such Person, shall be deemed to be 100% thereof unless and only to the extent that such
other Person has delivered Cash or cash equivalents to secure all or any part of such Person’s guaranteed obligations and (ii) in the case of any other guaranty, (whether or not joint and several) of an obligation otherwise constituting
Indebtedness of such Person, the amount of such guaranty shall be deemed to be only that amount in excess of the amount of the obligation constituting Indebtedness of such Person. 

“Conversion Date” means any date selected by the Administrative Agent for conversion of the applicable Revolving Loans into
Term Loans. 
 “Corporate Services Agreement” means the Corporate Services Agreement dated as of the date hereof between
the Borrower and the Services Provider, as amended from time to time in accordance with the terms hereof and thereof. 
  

  
 -21- 

 “Corporate Trust Office” means the corporate trust office of the Collateral
Agent currently located at 1776 Heritage Drive, North Quincy, Massachusetts 02171, Mail Stop: JAB0130, Attention: Structured Trust & Analytics or such other address as the Collateral Agent may designate from time to time by notice to
the Borrower, the Administrative Agent and the Lenders or the principal corporate trust office of any successor Collateral Agent. 
 “Corresponding
Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day
adjustment) as such Available Tenor. 
 “Cost of Funds Rate” means, with respect
to any Loan funded by a CP Lender that is not a CP
LIBORSOFR Lender, the
weighted average of the Commercial Paper Rate, the Liquidity Funding Rate and the Credit Funding Rate at any time and from time to time based upon the portion of the outstanding principal amount of such Loan that is funded by Commercial Paper
Funding, Liquidity Funding or Credit Funding for one or more Commercial Paper Funding Periods, Liquidity Funding Periods or Credit Funding Periods, respectively; provided that in no event shall the Cost of Funds Rate for any period exceed the
Cost of Funds Rate Cap for such period. For purposes of this definition and its use in this Agreement, the Commercial Paper Rate established by a CP Lender shall be associated with the Commercial Paper Funding undertaken by such CP Lender.

 “Cost of Funds Rate Cap” means, for any Interest
Period, the sum of (i) the London Interbank Offered Rate
applicable to such Interest Period plus (ii) 0.25% per annum;
provided that
if, pursuant to Section 11.1(a)
, the Administrative Agent is unable to obtain a quotation for the London Interbank Offered Rate, the Cost of Funds Rate Cap shall
equal, for each day in any Interest Period, (i) the Alternate Base Rate applicable to such day plus (ii) 0.25% per annum. 

“Cov-Lite Loan” means a Collateral Loan the Related Contracts for which do not
(i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Related Contracts);
provided that, notwithstanding the foregoing, a Collateral Loan shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Loan) not to be a Cov-Lite Loan if the Related
Contracts for such Collateral Loan contain a cross-default or cross acceleration provision to, or such Collateral Loan is pari passu with, another loan, debt obligation or credit facility of the underlying
Obligor that contains one or more Maintenance Covenants. 
 “Coverage Tests” means each of the Overcollateralization Ratio
Test and the Interest Coverage Ratio Test. 
 “Covered Accounts” means, collectively, the Collection Account, the Custodial
Account, the Future Funding Reserve Account, the Interest Reserve Account, the Payment Account, the Lender Collateral Account and the Closing Expense Account and any subaccounts of each of the foregoing. 

  
 -22- 

 “Covered Entity” means any of the following: 

(i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); 

(ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or 

(iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 

“Covered Party” has the meaning set forth in Section 15.1. 

“CP Conduit” means any limited-purpose entity established to use
the direct or indirect proceeds of the issuance of Commercial Paper Notes to finance financial assets. 

“CP Lender” means any CP Conduit that is a Lender, and that is identified to the Borrower as a
CP Conduit on its signature page to this Agreement, an Assignment and Assumption or otherwise. 
 “CP LIBORSOFR
 Lender” means a CP Conduit that has elected in a written notice to the Borrower and the Administrative Agent to have its Loans accrue interest by reference to the London Interbank Offered Ratethen applicable
Benchmark. 
 “Credit Estimate” means, with respect to any Collateral Loan, a credit estimate
obtained from S&P in accordance with the S&P’s “Credit Estimate Information Requirements” dated April 2011 and any other available information S&P reasonably requests in order to produce a credit estimate for a particular
asset. 
 “Credit Facility” means, with respect to any Loan by any CP Lender, a credit asset purchase agreement or
other similar facility that provides credit support for defaults in respect of the failure to make such Loan, and any guaranty of any such agreement or facility. 

“Credit Funding” means, with respect to any Loan by any CP Lender, at any time, funding by a CP Lender of all or a
portion of the outstanding principal amount of such Loan with funds provided under a Credit Facility. 
 “Credit Funding
Period” means, with respect to any Loan by any CP Lender, a period of time during which all or a portion of the outstanding principal amount of such Loan is funded by a Credit Funding. 

“Credit Funding Rate” means, with respect to any Credit Funding for any period, the per annum rate of interest equal to the
rate of interest provided for in the relevant Credit Facility at such time. 
 “Credit Improved Loan” means any Collateral
Loan that, in the Services Provider’s reasonable business judgment applying the Servicing Standard has significantly improved in credit quality from the condition of its credit at the time of acquisition, which judgment may (but need not) be
based on one or more of the following facts and will not be called into question as a result of subsequent events: 
  

  
 -23- 

 (a) the Obligor in respect of such Collateral Loan has shown improved
financial results since the published financial reports first produced after it was acquired by the Borrower; 
 (b) the
Obligor in respect of such Collateral Loan since the date on which such Collateral Loan was acquired by the Borrower has raised significant equity capital or has raised other capital that has improved the liquidity or credit standing of such
Obligor; or 
 (c) with respect to which one or more of the following criteria applies in respect of such Collateral Loan:
(i) such Collateral Loan has been upgraded or put on a watch list for possible upgrade by S&P since the date on which such Collateral Loan was acquired by the Borrower; (ii) the proceeds from a sale of such Collateral Loan would be at
least 101% of its purchase price; (iii) the price of such Collateral Loan has changed during the period from the date on which it was acquired by the Borrower to the proposed sale date by a percentage either more positive, or less negative, as
the case may be, than the percentage change in the average price of the applicable Eligible Loan Index plus 0.25% over the same period; or (iv) the price of such Collateral Loan changed during the period from the date on which it was
acquired by the Borrower to the date of determination by a percentage either more positive, or less negative, as the case may be, than the percentage change in a nationally recognized loan index selected by the Borrower or the Services Provider over
the same period plus 0.50%. 
 “Credit Risk Loan” means a Collateral Loan that is not a Defaulted Loan but which
has, in the Services Provider’s reasonable business judgment applying the Servicing Standard (which judgment will not be called into question as a result of subsequent events), a significant risk of declining in credit quality and, with lapse
of time, becoming a Defaulted Loan, and is designated as a “Credit Risk Loan” by the Borrower or the Services Provider. 

“CRR” means European Union Regulation 575/2013 on prudential requirements for credit institutions and investment firms and
amending Regulation (EU) 648/2012. 
 “Current Pay Obligation” means a Collateral Loan that would otherwise be a Defaulted
Loan as to which (i) all scheduled interest and principal payments due (other than those due as a result of any bankruptcy, insolvency, receivership or other analogous proceeding) were paid in Cash and the Borrower or the Services Provider
reasonably expects, and delivers to S&P (if S&P is then rating any Loans) a certificate of an Authorized Officer certifying that it reasonably expects, that the remaining scheduled interest and principal payments due will be paid in cash,
(ii) the S&P Rating of such Collateral Loan is at least “CCC” and is not on a watch list for possible downgrade; (iii) the Market Value (which is not determined pursuant to clause (d) or subclause (iii) in the
proviso of clause (c) of the definition thereof) of such Collateral Loan is at least 80% of par; and (iv) if the Obligor of such Collateral Loan is the subject of a bankruptcy, insolvency, receivership or other analogous proceeding, the
bankruptcy court or other authorized official has authorized the payment of interest and/or principal and other amounts due and payable on such Collateral Loan and no such payments that are due and payable are unpaid; provided that

  
 -24- 

 
to the extent that more than 10.0% of Total Capitalization would otherwise constitute Current Pay Obligations, one or more Collateral Loans (or portions thereof, as applicable) having a Maximum
Principal Balance at least equal to such excess shall be deemed not to constitute Current Pay Obligations and shall instead constitute Defaulted Loans; provided, further that, in determining which of the Current Pay Obligations shall
constitute Defaulted Loans, the Current Pay Obligations with the lowest Market Value (expressed as a percentage of the Maximum Principal Balance of each such Collateral Loan as of such date of determination) shall be deemed to so constitute
Defaulted Loans. 
 “Current Portfolio” means, at any time, the portfolio of Collateral Loans and Eligible Investments
representing Principal Proceeds, then held by the Borrower. 
 “Custodial Account” means a custodial account at the
Custodian, established in the name of the Collateral Agent pursuant to Section 8.4(a). 

“Custodian” has the meaning set forth in Section 8.4(a). 

“Daily Report” has the meaning set forth in Section 8.9(a). 

“Daily Simple SOFR” means, for any
day, (a “SOFR, with the conventions for this rate
(which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if the Administrative
Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. Rate
Day”),
 a rate per annum equal to SOFR for the day that is five U.S. Government Securities Business Day prior to
(i) if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or
(ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government
Securities Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR
Administrator’s
 Website. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective
date of such change in SOFR without notice to the Borrower. 
 “Default” means any
condition or event which constitutes an Event of Default or which with the giving of notice or lapse of time or both would, unless waived in accordance with Section 12.5 or cured, become an Event of Default. 

“Default Differential” means, with respect to the Loans at any time, the rate calculated by subtracting the Scenario Default
Rate for the Loans at such time from the Break-Even Default Rate for the Loans at such time. 

“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§
252.81, 47.2 or 382.1, as applicable. 
  

  
 -25- 

 “Defaulted Loan” means any Collateral Loan as to which: 

(a) a default as to the payment of principal and/or interest has occurred and is continuing with respect to such Collateral
Loan (without regard to any grace period applicable thereto, or waiver thereof, after the passage of five Business Days in the case of interest or three Business Days in the case of principal if the Borrower or the Services Provider determines that
such default is unrelated to credit-related causes (which determination shall be reported in the next Collateral Report required to be delivered pursuant to Section 5.1(h)), but in no
case beyond the passage of any grace period applicable thereto); 
 (b) the Borrower or the Services Provider has received
written notice or a Senior Authorized Officer of the Borrower or the Services Provider has actual knowledge that a default as to the payment of principal and/or interest has occurred and is continuing on another debt obligation of the same Obligor
that is senior or pari passu in right of payment to such Collateral Loan (in each case, after the passage of three Business Days if the Borrower or the Services Provider determines that such default is unrelated to
credit-related causes (which determination shall be reported in the next Collateral Report required to be delivered pursuant to Section 5.1(h) but only to the extent the Borrower or
the Services Provider has been notified or otherwise has knowledge of such default), but in no case beyond the passage of any grace period applicable thereto; provided that both the Collateral Loan and such other debt obligation are full
recourse obligations of the applicable Obligor); 
 (c) except in the case of a DIP Loan or Current Pay Obligation, the
Obligor in respect of such Collateral Loan has, or others have, instituted proceedings to have such Obligor adjudicated as bankrupt or insolvent or placed into receivership and such proceedings have not been stayed or dismissed, or such Obligor has
filed for protection under Chapter 11 of the Bankruptcy Code; 
 (d) except in the case of a DIP Loan, the Obligor with
respect to such Collateral Loan has an S&P Rating of lower than “CCC-” or “D” or “SD” or had any such rating immediately before such rating was withdrawn by S&P; 

(e) the Borrower or the Services Provider has received notice or a Senior Authorized Officer of the Borrower or the Services
Provider has actual knowledge that another debt obligation of the same Obligor that is senior or pari passu in right of payment to such Collateral Loan has an S&P Rating of lower than “CCC-” or
“D” or “SD” or had any such rating immediately before such rating was withdrawn by S&P, and such other debt obligation remains outstanding; provided that both the Collateral Loan and such other debt obligation are full
recourse obligations of the applicable Obligor; 
 (f) a default with respect to which the Borrower or the Services Provider
has received written notice, or a Senior Authorized Officer of the Borrower or the Services Provider has actual knowledge, that a default has occurred under the Related Contracts and any applicable grace period has expired and the holders of such
Collateral Loan have accelerated the repayment of the Collateral Loan (but only until such acceleration has been rescinded) in the manner provided in the Related Contracts; 
  

  
 -26- 

 (g) such Collateral Loan is a Participation Interest (until it is elevated
or converted to an assigned loan) with respect to which the related Selling Institution has defaulted in any material respect in the performance of any of its payment obligations under the Participation Interest; 

(h) such Collateral Loan is a Participation Interest (until it is elevated or converted to an assigned loan) in a loan that
would, if such loan were a Collateral Loan, constitute a “Defaulted Loan” (other than under this clause (h)) or with respect to which the Selling Institution has an S&P Rating of lower than
“CCC-” or “D” or “SD” or had such rating immediately before such rating was withdrawn by S&P; 

(i) the Borrower or the Services Provider (in accordance with the Servicing Standard) has otherwise declared such Collateral
Loan to be a “Defaulted Loan”; or 
 (j) such Collateral Loan has been placed on
non-accrual status by the Services Provider; 
 provided that Current Pay Obligations (or portions thereof,
as applicable) in excess of 10.0% of Total Capitalization shall be deemed to be Defaulted Loans as set forth in the proviso in the definition of “Current Pay Obligation”. 

“Defaulting Lender” means a Lender that has at any time (i) failed to fund all or any portion of its Loans when and as
required hereunder (other than failures to fund (a) solely as a result of a bona fide dispute as to whether the conditions to borrowing were satisfied on the relevant Borrowing Date, but only for such time as such Lender is continuing to engage
in good faith discussions regarding the determination or resolution of such dispute, and such Lender has notified the Administrative Agent in writing of its intention not to fund and has specifically identified such condition precedent to funding
that was not satisfied, or (b) solely as a result of a failure to disburse due to an administrative error or omission by such Lender, and such failure is cured within five Business Days after such Lender receives written notice or has actual
knowledge of such administrative error or omission), (ii) has notified the Borrower and the Administrative Agent in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding
obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s dispute as to the satisfaction of any condition precedent pursuant to the foregoing clause (a)) or generally
under other agreements under which it shall have committed to extend credit or (iii) has (or has a parent company) become or is insolvent or has become the subject of a bankruptcy or insolvency proceeding or become the subject of a Bail-in Action, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding
or appointment. 
 “Delaware LLC” means any limited liability company organized or formed under the laws
of the State of Delaware. 
  

  
 -27- 

 “Delaware LLC Division” means the statutory division of
any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited Liability Company Act. 

“Delayed Funding Loan” means a Collateral Loan pursuant to which one or more future advances will be required to be made to
the Obligor thereunder but which does not permit any such advance that has been made to be reborrowed once repaid by the Obligor; provided that such loan shall only be considered to be a Delayed Funding Loan to the extent of the unfunded
commitment and only for so long as any future funding obligations remain in effect. 
 “DIP Loan” means any interest in a
loan or financing facility with an S&P Rating (i) which is an obligation of either a debtor-in-possession as described in Section 1107 of the Bankruptcy
Code or a trustee (if appointment of such trustee has been ordered pursuant to Section 1104 of the Bankruptcy Code) (in either case, a “Debtor”) organized under the laws of the United States or any State therein;
(ii) which is paying interest on a current basis; and (iii) the terms of which have been approved by an order of the United States Bankruptcy Court, the United States District Court, or any other court of competent jurisdiction, the
enforceability of which order is not subject to any pending contested matter or proceeding (as such terms are defined in the Federal Rules of Bankruptcy Procedure) and which order provides that (a) such DIP Loan is secured by liens on the
Debtor’s otherwise unencumbered assets pursuant to Section 364(c)(2) of the Bankruptcy Code; (b) such DIP Loan is secured by liens of equal or senior priority on property of the Debtor’s estate that is otherwise subject to a lien
pursuant to Section 364(d) of the Bankruptcy Code; (c) such DIP Loan is secured by junior liens on the Debtor’s encumbered assets and such DIP Loan is fully secured based upon a current valuation or appraisal report; or (d) if
the DIP Loan or any portion thereof is unsecured, the repayment of such DIP Loan retains priority over all other administrative expenses pursuant to Section 364(c)(1) of the Bankruptcy Code. 

“Discount Loan” means any Collateral Loan that is acquired by the Borrower for a purchase price paid by the Borrower to the
seller of such Collateral Loan of less than 95% of the principal balance of such Collateral Loan. 
 “Distribution” means
any payment of principal or interest or any dividend or premium payment made on, or any other distribution in respect of, a Collateral Loan or other security. 

“Diversity Score” means a single number that indicates collateral concentration in terms of both issuer and industry
concentration, calculated as set forth on Schedule C hereto. 
 “Document Checklist” means, for
any Collateral Loan, an electronic or hard copy list, substantially in the form attached hereto as Exhibit J delivered by the Borrower (or the Services Provider on behalf of the Borrower) to the Document Custodian (with a
copy to the Collateral Agent) that identifies the Collateral Loan, the applicable Obligor and each of the Related Contracts that shall be delivered to the Document Custodian by the Borrower, and whether each such document is an original or a copy.

 “Document Custodian” means Cortland Capital Market Services LLC, in its capacity as document custodian under this
Agreement, and its successors in such capacity. 
  

  
 -28- 

 “Document Custodian Fee” means the fee payable to the Document Custodian in
arrears on each Quarterly Payment Date in an amount specified in the Document Custodian Fee Letter. 
 “Document Custodian Fee
Letter” means the fee letter dates as of the date hereof, between the Borrower and the Document Custodian, as amended, restated, supplemented or otherwise modified from time to time. 

“Document Custodian Office” has the meaning assigned to such term in Section 14.1(b). 

“Dollars” and “$” mean lawful money of the United States of America. 

“Domicile” or “Domiciled” means, with respect to any Obligor with respect to a Collateral Loan, its country
of organization or incorporation. 
 “Downgraded Lender” means a Revolving Lender that fails to be an Approved Lender in
accordance with the terms of such definition. 
 “Due Date” means each date on which a Distribution is due on a Collateral
Loan. 
 “Due Period” means, with respect to any Quarterly Payment Date, the period commencing on the day following the
last day of the immediately preceding Due Period (or, in the case of the initial Due Period, the period commencing on the Closing Date) and ending on (and including) the Calculation Date immediately preceding such Quarterly Payment Date (or, in the
case of the Due Period that is applicable to the Quarterly Payment Date occurring on the Stated Maturity, ending on the day preceding such Quarterly Payment Date). 

“Early Opt-in
Election” means, if the then-current Benchmark is LIBOR, the occurrence of: (1) a notification by the Administrative Agent to each of the other parties hereto that at least five currently outstanding U.S. dollar-denominated syndicated or bilateral credit
facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such credit facilities are identified in such notice and
are publicly available for review), and (2) the joint election by
the Administrative Agent and the Borrower to trigger a fallback from LIBOR and the provision by the Administrative Agent of written notice of such election to the Lenders. 

“EBA” means the European Banking Authority (including any successor or replacement organization thereto). 

“EBITDA” means earnings before interest, taxes, depreciation and amortization (determined, for any Collateral Loan, in the
manner provided in the Related Contracts) and in any case that “EBITDA,” “Adjusted EBITDA” or such comparable definition is not defined in such Related Contracts, an amount, for the principal Obligor on such Collateral Loan and
any of its parents or Subsidiaries that are obligated pursuant to the Related Contracts for such Collateral Loan (determined on a consolidated basis without duplication in accordance with GAAP) equal to net income from continuing operations for such
period plus (a) cash interest expense, (b) income 

  
 -29- 

 
taxes, (c) depreciation and amortization for such period (to the extent deducted in determining earnings from continuing operations for such period), (d) amortization of intangibles
(including, but not limited to, goodwill, financing fees and other capitalized costs), to the extent not otherwise included in clause (c) above, other noncash charges and organization costs, (e) extraordinary losses in accordance with
GAAP, and (f) any other item the Borrower and the Administrative Agent mutually deem to be appropriate. 
 “EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of a Resolution Authority, (b) any entity established in an EEA Member Country which is a
parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and
is subject to consolidated supervision with its parent; 
 “EEA Member Country” means any of the member states of the
European Union, Iceland, Liechtenstein, and Norway. 
 “EIOPA” means the European Insurance and Occupational Pensions
Authority (including any successor or replacement organization thereto). 
 “Eligibility Criteria” means, as of
(i) the date of each acquisition, repurchase or substitution of a debt obligation and (ii) each applicable Borrowing Date, criteria that will be satisfied if each of the following requirements is met: 

(a) each Concentration Limitation is satisfied immediately after giving effect to such acquisition, repurchase, substitution or
applicable Borrowing (or, if not satisfied immediately prior to such acquisition, repurchase, substitution or applicable Borrowing, compliance with such Concentration Limitation is maintained or improved after giving effect to such acquisition,
repurchase, substitution or applicable Borrowing); 
 (b) each component of the Collateral Quality Test is satisfied
immediately after giving effect to such acquisition, repurchase, substitution or Borrowing (or, if not satisfied immediately prior to such acquisition, repurchase, substitution or applicable Borrowing, compliance with the Collateral Quality Test is
maintained or improved after giving effect to such acquisition, repurchase, substitution or applicable Borrowing); 
 (c)
each Coverage Test is satisfied immediately after giving effect to such acquisition, repurchase, substitution or applicable Borrowing; 

(d) in the case of a Borrowing, the Senior Advance Rate Test is satisfied immediately after giving effect to such Borrowing, or
in the case of an acquisition or substitution, either the Senior Advance Rate Test is satisfied immediately after giving effect to such acquisition or substitution (or, if not satisfied immediately prior to such acquisition or substitution,
compliance with the Senior Advance Rate Test is maintained or improved after giving effect to such acquisition or substitution); 
  

  
 -30- 

 (e) each of the criteria in the definition of “Collateral Loan” is
satisfied with respect to such acquisition of a debt obligation; provided that, for the avoidance of doubt, for purposes of determining whether the Eligibility Criteria have been satisfied, such criteria shall only be tested as of the date of
such acquisition of such debt obligation and shall not be retested on any Borrowing Date or the date of any repurchase or substitution with respect to assets not acquired on such date; and 

(f) if an acquisition or substitution of a debt obligation occurs on such date of determination, as of such date, or, if not,
as of the most recent date preceding such date of determination on which an acquisition or substitution of a debt obligation occurred, the aggregate outstanding principal amount of all debt obligations (including Collateral Loans) held by the
Borrower (immediately following any acquisition or substitution of any debt obligations on such date of determination) in respect of which the Retention Holder, either itself or through related entities (including the Borrower), directly or
indirectly, was involved or will be involved in negotiating the original agreement which created the relevant debt obligation is greater than 50% of the aggregate outstanding principal amount of all debt obligations (including Collateral Loans) then
held by the Borrower. 
 “Eligible Account Bank” means, with respect to any specified account, a financial institution:

 (a) that if such account is a fully segregated trust account with the trust department or corporate trust department of
such financial institution, has a long-term debt rating of at least “A” and a short-term debt rating of at least
“A-1” by S&P (or at least “A+” by S&P if such institution has no short-term rating); or 

(b) as to which the Rating Condition is satisfied and the Borrower and the Majority Lenders have consented to such financial
institution constituting an “Eligible Account Bank” hereunder. 
 “Eligible
Cov-Lite Loan” means a Cov-Lite Loan that is a Senior Secured Loan. 

“Eligible Investment Required Ratings” means, in the case of each Eligible Investment, a
short-term credit rating of at least “A-1” (or, in the absence of a short-term credit rating, “AA-” or better) from S&P. 
 “Eligible Investments” means any investment
denominated in Dollars that, at the time it is delivered to the Collateral Agent (directly or through a financial intermediary or bailee), is one or more of the following obligations or securities: 

(i) direct Registered obligations of, and Registered obligations the timely payment of principal and interest on which is fully
and expressly guaranteed by, the United States of America or any agency or instrumentality of the United States of America the obligations of which are expressly backed by the full faith and credit of the United States of America; 

(ii) demand and time deposits in, certificates of deposit of, trust accounts with, bankers’ acceptances issued by, or
federal funds sold by any depositary institution or trust company incorporated under the laws of the United States of America or any state thereof and subject to supervision and examination 

  
 -31- 

 
by federal and/or state banking authorities so long as the commercial paper and/or the debt obligations of such depositary institution or trust company (or, in the case of the principal
depositary institution in a holding company system, the commercial paper or debt obligations of such holding company) at the time of such investment or contractual commitment providing for such investment have the Eligible Investment Required
Ratings; 
 (iii) non-extendable commercial paper or other short-term obligations with the Eligible Investment Required Ratings and that either bear interest or are sold at a discount from the face amount thereof and have a maturity of not more than 183 days from their
date of issuance; 
 (iv) money market funds domiciled outside of the United States which funds have, at all times, the
highest Moody’s credit rating assignable at such time and credit ratings of “AAA-mf” by S&P; 

(v) any other investment similar to those described in clauses (i) through (iv) above which (a) has the Eligible
Investment Required Ratings at the time of such investment and (b) has been approved by the Majority Lenders; provided that the Rating Condition has been satisfied with respect to any such investment; 

and, in the case of (i) through (iii) and (v) above, with a stated maturity (after giving effect to any applicable grace period) no later than
the Business Day immediately preceding the Quarterly Payment Date next following the Interest Period in which the date of investment occurs (unless such Eligible Investments are issued by the Collateral Agent in its capacity as a banking
institution, in which event such Eligible Investments may mature on such Quarterly Payment Date); provided that none of the foregoing obligations or securities shall constitute Eligible Investments if (a) such obligation or security has
an “f”, “r”, “p”, “pi”, “q” or “t” subscript assigned by S&P, (b) all, or substantially all, of the remaining amounts payable thereunder consist of interest and not principal
payments, (c) such obligation or security is subject to any withholding tax (other than withholding taxes imposed under FATCA) unless the issuer of the security is required to make “gross-up”
payments or pay “additional amounts” in respect of, or otherwise compensate the holder of such security for, the full amount of such withholding tax for any reason, (d) such obligation or security is secured by real property,
(e) such obligation or security is purchased at a price greater than 100% of the principal or face amount thereof, (f) such obligation or security is subject of a tender offer, voluntary redemption, exchange offer, conversion or other
similar action or (g) in the Borrower’s or the Services Provider’s judgment, such obligation or security is subject to material non-credit related risks. Eligible Investments may include,
without limitation, those investments for which an Agent or an affiliate of an Agent provides services. Any investment, which otherwise qualifies as an Eligible Investment, may (1) be made by the Collateral Agent or any of its Affiliates and
(2) be made in securities of any entity for which the Collateral Agent or any of its Affiliates receives compensation or serves as offeror, distributor, investment adviser or other service provider. 

  
 -32- 

 “Eligible Loan Index” means, with respect to each Collateral Loan, one of
the following indices as selected by the Borrower or the Services Provider upon the acquisition of such Collateral Loan: the Credit Suisse Leveraged Loan Indices, the Deutsche Bank Leveraged Loan Index, the Goldman Sachs/Loan Pricing Corporation
Liquid Leveraged Loan Index, the Banc of America Securities Leveraged Loan Index, the S&P/LSTA Leveraged Loan Indices or any other nationally recognized loan index subject to the consent of the Majority Lenders with written notice thereof to be
provided to S&P (collectively, the “Approved Indices”); provided that the Borrower or the Services Provider may change the index applicable to a Collateral Loan to another of the Approved Indices at any time following the
acquisition thereof after giving notice to the Administrative Agent and the Collateral Agent. 
 “Eligible Obligor” means
any Obligor that (i) is a Person (other than a natural person) that is Domiciled in the United States (or any state thereof) or an Approved Foreign Jurisdiction, (ii) is not Affiliated with the Parent or the Services Provider and
(iii) is not in a Prohibited Industry. 
 “Environmental Claim” means, with respect to any Person, any written notice,
claim, demand or similar communication by any other Person having jurisdiction alleging potential liability for investigatory costs, cleanup costs, governmental response costs, natural resources damage, property damages, personal injuries, fines or
penalties arising out of, based on or resulting from (i) the presence, or release into the environment, of any Hazardous Substances at any location, whether or not owned by such Person or (ii) circumstances forming the basis of any
violation, of any applicable Environmental Law, in each case as to which there is a reasonable likelihood of an adverse determination with respect thereto and which, if adversely determined, would have a Material Adverse Effect. 

“Environmental Laws” means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations,
ordinances, rules, judgments, orders, decrees, plans, injunctions, permits, concessions, grants, franchises, licenses, agreements and other governmental restrictions relating to the environment, the effect of the environment on human health or to
emissions, discharges or releases of pollutants, contaminants, Hazardous Substances or wastes into the environment including, without limitation, ambient air, surface water, ground water, or land, or otherwise relating to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, Hazardous Substances or wastes or the clean-up or other remediation thereof. 

“Equity Interests” means any and all shares, interests, participations or other equivalents (however designated) of capital
stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation), including partnership interests and membership interests, and any and all warrants, rights or options to purchase or other arrangements or
rights to acquire any of the foregoing. 
 “Equity Security” means any equity security or any other security or loan that
is not eligible for acquisition by the Borrower as a Collateral Loan and any security acquired by the Borrower as part of a “unit” with a Collateral Loan and which itself is not eligible for acquisition by the Borrower as a Collateral
Loan. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. 

  
 -33- 

 “ERISA Group” means each controlled group of corporations or trades or
businesses (whether or not incorporated) under common control that is treated as a single employer under Section 414(b) or (c) or, for the purposes of Section 412 of the Code and Section 302 of ERISA, (m) or (o) of the
Code, with the Borrower. 
 “Erroneous Payment” has the meaning assigned to it in Section 7.9.

 “Erroneous Payment Notice” has the meaning assigned to it in Section 7.9. 

“Erroneous Payment Impacted Class” has the meaning assigned to it in Section 7.9. 

“Erroneous Payment Return Deficiency” has the meaning assigned to it in Section 7.9. 

“Erroneous Payment Subrogation Rights” has the meaning assigned to it in Section 7.9. 

“ESMA” means the European Securities and Markets Authority (including any successor or replacement organization thereto).

 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“EU Retention Requirements” means Article 6 of the Securitisation Regulation (together with any delegated regulations of the
European Commission, applicable guidelines published by any of the European Supervisory Authorities (jointly or individually), regulatory technical standards, or implementing technical standards made thereunder, together with Chapters I, II and III
and Article 22 of Delegated Regulation (EU) No 625/2014 where such provisions are applicable pursuant to the transitional provisions in Article 43(7) of the Securitisation Regulation). 

“Eurodollar Rate Loans” means Loans accruing interest at an Applicable Rate based upon the London Interbank Offered RateTerm
SOFR. 
 “European Supervisory Authorities” means, together, the EBA, the ESMA and the EIOPA. 

“Event of Default” has the meaning set forth in Section 6.1. 

“Excess Reserve Amount” means, on any date, the excess (if any) of: 

(a) the amount standing to the credit of the Future Funding Reserve Account on such date; over 

(b) (i) the aggregate Unfunded Amount on such date minus (ii) if such date is prior to the end of the
Commitment Period, the excess (if any) of (x) the Total Revolving Commitment on such date over (y) the aggregate principal amount of the Revolving Loans outstanding on such date. 

  
 -34- 

 “Excluded Liability” means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution
Directive. 
 “Excluded Taxes” means any of the following Taxes imposed on or with respect to each Lender and the
Administrative Agent or required to be withheld or deducted from a payment to such Person, (i) Taxes imposed on or measured by its net income (however denominated), franchise Taxes, and branch profits Taxes, in each case (A) imposed as a
result of any Lender or the Administrative Agent (as the case may be) being organized under the laws of, or having its principal office or, in the case of each Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or
any political subdivision thereof) or (B) that are Other Connection Taxes, (ii) in the case of each Lender, withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan
pursuant to a law in effect on the date on which (y) such Lender acquires such interest in the Loan or (z) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 11.4,
amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (iii) Taxes attributable to such
Lender or the Administrative Agent’s failure to comply with Section 11.4(d) and (iv) any amounts withheld pursuant to FATCA. 

“Exposure Amount” as of any date means, with respect to any Revolving Collateral Loan or Delayed Funding Loan, the excess of
(a) the Borrower’s maximum funding commitment thereunder over (b) the Principal Balance of such Revolving Collateral Loan or Delayed Funding Loan. For the avoidance of doubt, Exposure Amounts in respect of a Defaulted Loan shall be
included in the calculation of the Exposure Amount if the Borrower is at such time subject to contractual funding obligations with respect to such Defaulted Loan and such obligation has not ceased to be enforceable under the U.S. Bankruptcy
Code. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended
or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code
and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code. 

“Federal Funds Rate” means, for any day,
theperiod, the greater of (a) 0.0% and (b) a fluctuating rate per annum (rounded
upward, if necessary, to the nearest 1/100th of 1%) equalequal for each day during such period to
the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on such
day, as published by the FRBNY on the Business Day next
succeedingfor such day;
provided that
(i)or, if such day is not a
Business Day, for the Federal Funds Rate for
such day shall be such rate on such transactions on the immediatelynext preceding Business Day as so published on the next succeeding Business Day and (ii) if no) by the NYFRB, or, if
such rate is not so published on such next
succeedingfor any day which is a Business Day, the Federal Funds Rate for such day shall be the average (rounded upward, if necessary, to the next
1/100th of 1%) of the quotations for such day
ofon such transactions
received by the Administrative Agent from three federal funds brokers of recognized standing selected by it. Notwithstanding the foregoing or any other provision of this Agreement,
the rate calculated pursuant to this definition shall not be less than 0%. 

  
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 “Federal Reserve Board” means the Board of Governors of the Federal Reserve
System as constituted from time to time. 
 “Fee Letter” means the Fee Letter, dated as of August 2, 2019, between the
Borrower and Société Générale, as amended from time to time in accordance with the terms thereof. 

“Fee Proceeds” means all amounts in the Collection Account representing upfront, commitment, amendment and waiver, late
payment (including compensation for delayed settlement or trades), anniversary, annual, facility, prepayment, redemption, call premium or any other fees of any type received by the Borrower in respect of any Collateral Loan and any excess, with
respect to participation interests in Collateral Loans which have been sold by the Borrower, of the interest paid by the applicable Obligor in respect of the portion of such Collateral Loan that is the subject of such participation interest over the
amount of interest required to be paid by the Borrower to the purchaser of such participation interest pursuant to the underlying participation agreement; provided that Fee Proceeds shall not include any reimbursement of expenses payable by
the Borrower to third parties, including legal fees, that may be received by the Borrower from any Obligor or any fees received in connection with the reduction of principal of the related Collateral Loan. Fee Proceeds shall in all cases constitute
Interest Proceeds. 
 “Final RTS” means Delegated Regulation (EU) No. 625/2014 of 13 March 2014 supplementing the
CRR. 
 “Financial Sponsor” means any Person whose principal business activity is acquiring, holding, and selling
investments (including controlling interests) in otherwise unrelated companies that each are distinct legal entities with separate management, books and records and bank accounts, whose operations are not integrated with one another and whose
financial condition and creditworthiness are independent of the other companies so owned by such Person. 
 “First Amendment
Effective Date” means November 22, 2019. 
 “First Lien/Last Out Loan” means a loan that would be a Senior
Secured Loan except that, following a default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior
secured loans are paid in full. 
 “Fixed Rate Obligation” means any Collateral Loan that bears a fixed rate of interest.

 “Floating Rate Obligation” means any Collateral Loan that bears a floating rate of interest. 

“Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to LIBOR.. For the avoidance of doubt,
the Floor for SOFR shall be zero. 

  
 -36- 

 “Foreign Lender” means (a) if the Borrower is a U.S. Person, a
Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. 

“
Fourth Amendment Effective
Date” means
 March 11, 2022. 

“FRBNY” means the Federal Reserve Bank of New York. 

“Future Funding Reserve Account” means the trust account established pursuant to Section 8.3(b).

 “Future Funding Reserve Loan” has the meaning set forth in Section 2.1. 

“GAAP” means generally accepted accounting principles in effect from time to time in the United States. 

“Governmental Authority” means the government of the United States of America or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Grant” means to grant, bargain, sell, convey, assign, transfer, mortgage, pledge, create and grant a security interest in
and right of set-off against, deposit, set over and confirm. A Grant of the Collateral, or of any other instrument, shall include all rights, powers and options (but none of the obligations) of the granting
party thereunder, including without limitation the immediate continuing right to claim for, collect, receive and receipt for principal and interest payments in respect of the Collateral, and all other Moneys payable thereunder, to give and receive
notices and other communications, to give consents, waivers or make other agreements, to exercise all rights and options, to bring Proceedings in the name of the granting party or otherwise, and generally to do and receive anything that the granting
party is or may be entitled to do or receive thereunder or with respect thereto. 
 “Group I Country”
means Australia, The Netherlands, New Zealand and the United Kingdom. 
 “Group II Country” means
Germany, Sweden and Switzerland. 
 “Group III Country” means Austria, Belgium, Denmark, Finland,
France, Luxembourg and Norway. 

  
 -37- 

 “Hazardous Substances” means any toxic, radioactive, caustic or otherwise
hazardous substance, identified as such as a matter of Environmental Law, including petroleum, its derivatives, by-products and other hydrocarbons, or any substance having any constituent elements displaying
any of the foregoing characteristics. 
 “Increased Costs” means any amounts due pursuant to
Section 2.9 and/or Article XI. 
 “Incurrence Covenant” means a
covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) only upon
the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture. 

“Indebtedness” of any Person means, without duplication, (a) as shown on such Person’s balance sheet (if any)
(i) all indebtedness of such Person for borrowed money or for the deferred purchase price of property and (ii) all indebtedness of such Person evidenced by a note, bond, debenture or similar instrument (whether or not disbursed in full),
(b) the face amount of all letters of credit issued for the account of such Person and, without duplication, all unreimbursed amounts drawn thereunder, (c) all Contingent Obligations of such Person, and (d) all payment obligations of
such Person under any interest rate protection agreement (including, without limitation, any interest rate swaps, caps, floors, collars and similar agreements) and currency swaps and similar agreements which were not entered into specifically in
connection with Indebtedness set forth in clauses (a), (b) or (c) hereof. 
 “Indemnified Taxes” means
(a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Indemnitee” has the meaning set forth in Section 12.3(b). 

“Initial Borrowing Date” means the Business Day on which the initial Borrowing occurs. 

“Initial Rating” means the rating given to the Loans by S&P as of the Closing Date. 

“Interest Coverage Amount” means, at any time, without duplication, the sum of (a) the scheduled interest payments and
scheduled fees due (in each case regardless of whether the applicable payment date has yet occurred) on the Collateral Loans (excluding Defaulted Loans to the extent set forth in the definition of “Interest Proceeds”) for the then-current Due Period; (b) amounts on deposit in the Collection Account, including Eligible Investments, representing Interest Proceeds; (c) scheduled interest on Eligible Investments held in the
Collection Account, the Future Funding Reserve Account and the Closing Expense Account, in each case for the then-current Due Period; and (d) all regularly scheduled amounts due and payable to the
Borrower under Interest Hedge Agreements during the then-current Due Period. 

  
 -38- 

 “Interest Coverage Ratio” means, as of any Measurement Date, the ratio
(expressed as a percentage) obtained by dividing: 
 (a) (i) the Interest Coverage Amount less (ii) all amounts
payable on the related Quarterly Payment Date pursuant to clauses (A) through (C) of Section 9.1(a)(i) by 

(b) the sum of all interest due on the Loans on the related Quarterly Payment Date. 

“Interest Coverage Ratio Test” means a test satisfied on any Measurement Date following the first Quarterly Payment Date if
the Interest Coverage Ratio is greater than or equal to 130.0% on such date. 
 “Interest Hedge Agreement” means an
interest rate protection agreement that may be entered into between the Borrower and an Interest Hedge Counterparty on or after the Closing Date, for the sole purpose of hedging interest rate risk between the portfolio of Collateral Loans and the
Loans, as amended from time to time in accordance with the terms thereof, with respect to which the Rating Condition is satisfied. 

“Interest Hedge Counterparty” means a counterparty meeting, at the time of entry by the Borrower into an Interest Hedge
Agreement, the then-current S&P criteria for hedge counterparties (or, with respect to any counterparty not meeting such criteria at such time, any counterparty whose obligations in respect of such
Interest Hedge Agreement are absolutely and unconditionally guaranteed by an Affiliate of such counterparty meeting the then-current S&P guarantee criteria at such time), together with any permitted
assignee or successor (which meets the then-current S&P criteria for hedge counterparties) under such Interest Hedge Agreement with respect to which the Rating Condition is satisfied. 

“Interest Period” means, with respect to each Borrowing (a) the period from (and including) the date of such Borrowing
to (and including) the following Calculation Date and (b) each successive period from (but excluding) the prior Calculation Date to (and including) the following Calculation Date until the principal of the Borrowing is repaid; provided
that, (x) in the case of any Interest Period applicable to a prepayment of the Loans pursuant to Section 2.7(c) or the Priority of Payments, such Interest Period shall end on (and include) the date of such prepayment
and (y) in the case of the Interest Period applicable to the Quarterly Payment Date occurring on the Stated Maturity, such Interest Period shall end on (and include) such Quarterly Payment Date. 

“Interest Proceeds” means, with respect to any Pledged Collateral (including Cash), (a) any payments with respect
thereto that are attributable to interest or yield in accordance with the Related Contracts of such Pledged Collateral, (b) all Fee Proceeds, (c) any cash capital contributions made to the Borrower that are to be treated as Interest
Proceeds in accordance with Section 6.5 and (d) any amounts deposited in the Collection Account from the Closing Expense Account in accordance with Section 8.3(e)) and (e) all funds on
deposit in the Interest Reserve Account. Interest Proceeds shall also include any amounts paid to the Borrower pursuant to an Interest Hedge Agreement (other than termination payments). No amounts that are required by the terms of any participation
agreement to be paid by the Borrower to any Person to whom the 

  
 -39- 

 
Borrower has sold a participation interest shall constitute “Interest Proceeds” hereunder. Any amounts received in respect of any Defaulted Loan will constitute Principal Proceeds (and
not Interest Proceeds) until the aggregate of all Collections in respect of such Defaulted Loan since it became a Defaulted Loan equals the Principal Balance of such Collateral Loan at the time it became a Defaulted Loan; thereafter, any such
amounts will constitute Interest Proceeds. Any amounts received in respect of any Equity Security will constitute Principal Proceeds (and not Interest Proceeds). 

“Interest Reserve Account” means the account established pursuant to Section 8.3(c). 

“Interpolated
Rate” means (a) for any Interest Period equal to three months, three month LIBOR as calculated in accordance
with the definition of “LIBOR” and
(b) for any Interest Period of less than or greater than three
months, the rate determined through the use of straight-line interpolation by reference to two rates calculated in accordance with the definition of
“LIBOR”, one of which shall be determined as if the maturity of the Dollar deposits referred to
therein were the period of time for which rates are available next shorter than the Interest Period and the other of which shall be determined as if such maturity were the period of time for which rates are available next longer than the Interest
Period; provided that if an Interest Period is less than or equal to seven days, then LIBOR shall be determined by reference to a rate calculated in accordance with the definition of
“LIBOR” as if the maturity of the Dollar deposits referred to therein were a period of time equal to
seven days. 
 “Investment Advisers Act” means the Investment
Advisers Act of 1940, as amended. 
 “Investment Company Act” means the Investment Company Act of 1940, as amended. 

“Investment Criteria Adjusted Balance” means, with respect to any Collateral Loan, the Principal Balance of such Collateral
Loan; provided that for all purposes the Investment Criteria Adjusted Balance of any Discount Loan shall be the purchase price of such Discount Loan (after adding the amount of any subsequent borrowings and subtracting the amount of any
subsequent repayments thereof). 
 “IRS” means the U.S. Internal Revenue Service. 

“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or
any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or such successor
thereto. 
 “Laws” means, collectively, all international, foreign, federal, state and local statutes, treaties, rules,
guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration
thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 

  
 -40- 

 “Lender” means each Person that is listed as a “Lender” on the
signature pages hereto, any Person that shall have become a party hereto pursuant to an Assignment and Assumption in respect of the Loans and, in each case, their respective successors, in each case other than any such Person that ceases to be a
party hereto pursuant to an Assignment and Assumption in respect of the Loans. 
 “Lender Collateral Account” means the
trust account established pursuant to Section 8.3(d). 
 “Lender Collateral Subaccount” has the
meaning set forth in Section 8.3(d)(ii). 

“LIBOR Business
Day” means any day except a Saturday, a Sunday or a
day on which commercial banks in London or New York City are authorized or required by law to close. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind, or
any other type of arrangement that has the practical effect of creating a security interest, in respect of such asset. For the purposes of this Agreement, any Person shall be deemed to own subject to a Lien any asset which it has acquired or holds
subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such asset. 

“Liquidity Facility” means, with respect to any Loan by any CP Lender, a liquidity asset purchase agreement, swap
transaction or other facility that provides liquidity for Commercial Paper Notes, and any guaranty of any such agreement or facility. 

“Liquidity Funding” means, with respect to any Loan by any CP Lender, at any time, funding by a CP Lender of all or
a portion of the outstanding principal amount of such Loan with funds provided under a Liquidity Facility. 
 “Liquidity Funding
Period” means, with respect to any Loan by any CP Lender, a period of time during which all or a portion of the outstanding principal amount of such Loan is funded through a Liquidity Funding. 

“Liquidity Funding Rate” means with respect to any Liquidity Funding under a Liquidity Facility for any period, the per annum
rate of interest equal to the rate of interest provided for in the relevant Liquidity Facility at such time. 
 “Loan Assignment
Agreement” has the meaning assigned to such term in Section 8.1(d). 
 “Loan Documents”
means this Agreement, the Account Control Agreement, the Corporate Services Agreement, the Notes, the Interest Hedge Agreements (if any), the Sale and Contribution Agreement, the Collateral Agent Fee Letter, the Document Custodian Fee Letter and the
Retention Letter. 

  
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 “Loans” means a Revolving Loan or a Term Loan. 

“London Interbank Offered
Rate” or “LIBOR

” means, with respect to any Interest Period, the greater of
(a) zero and (b) the Interpolated Rate (expressed as a percentage per annum rounded upwards to the nearest one
hundredth (1/100) of one percent (1%)) for deposits in Dollars for the appropriate periods that appear on Reuters Page LIBOR01 (or on any successor or substitute page or service providing quotations of interest rates applicable to dollar deposits in
the London interbank market comparable to those currently provided on such page, as determined by the Administrative Agent from time to time) as reported by Bloomberg Financial Markets Commodities News as of 11:00 a.m., London time, two LIBOR
Business Days before the first day of such Interest Period. If such rates do not appear on Reuters Page LIBOR01 (or on any such successor or substitute page or service referred to above) as of 11:00 a.m., London time, two LIBOR Business Days before
the first day of such Interest Period, the Administrative Agent will request the principal London office of any four (4) major reference banks in the London interbank market selected by the Administrative Agent to provide such bank’s offered quotation (expressed as a percentage per annum rounded upwards to the nearest one
hundredth (1/100) of one percent (1%)) to prime banks in the London interbank market for deposits in Dollars for the appropriate periods as of 11:00 a.m., London time, on such date for amounts comparable to the then outstanding principal amount of
the applicable Loan (if available). If at least two such offered quotations are so provided, LIBOR will be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, the Administrative Agent will request any three
(3) major banks in New York City selected by the Administrative
Agent to provide such bank’s rate (expressed as a percentage per
annum rounded upwards to the nearest one hundredth (1/100) of one percent (1%)) for loans in Dollars to leading European banks for the appropriate periods as of approximately 11:00 a.m., New York City time, on the date which is two LIBOR Business
Days before the first day of such Interest Period for amounts comparable to the then outstanding principal amount of the applicable Loan (if available). If at least two such rates are so provided, the London Interbank Offered Rate will be the
arithmetic mean of such rates. If fewer than two rates are so provided, then the London Interbank Offered Rate will be the rate provided. If no such rate is provided, the London Interbank Offered Rate for such Interest Period will be the London
Interbank Offered Rate in effect for the prior Interest Period. 

“LongLong- Dated Loan” means as of any date of determination, any Loan with a stated maturity after the Stated
Maturity. 
 “Maintenance Covenant” means a covenant by any borrower to comply with one or more financial covenants
(including, without limitation, any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, whether or not such borrower has taken any specified
action. 
 “Majority Lenders” means the Lender or Lenders holding, collectively, more than 50% of the aggregate Undrawn
Commitments and aggregate principal amount of all of the Loans outstanding at such time; provided that for purposes of making any determination of Majority Lenders, the Undrawn Commitment of, and the portion of the Loans held or deemed held
by, any Defaulting Lender shall be excluded; provided further that at any time when two or more Lenders are party to this Agreement, at least two Lenders shall be required to constitute “Majority Lenders”. 

  
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 “Majority Revolving Lenders” means the Revolving Lender or Revolving
Lenders holding, collectively, more than 50% of the aggregate Undrawn Commitments and aggregate principal amount of all of the Revolving Loans outstanding at such time; provided that for purposes of making any determination of Majority
Revolving Lenders, the Undrawn Commitment of, and the portion of the Revolving Loans held or deemed held by, any Defaulting Lender shall be excluded; provided further that at any time when two or more Revolving Lenders are party to
this Agreement, at least two Revolving Lenders shall be required to constitute “Majority Revolving Lenders”. 
 “Margin
Stock” shall have the meaning provided such term in Regulation U. 
 “Market Value” means, as of any date of
determination, with respect to any loans or other assets, the amount (determined by the Borrower, or the Services Provider in accordance with the Servicing Standard) equal to the product of the outstanding principal amount thereof and the price
determined in the following manner: 
 (a) the bid-side quote determined by any of
(i) Loan Pricing Corporation, LoanX Inc., MarkIt Partners, Mergent, Inc. or IDC or (ii) subject to satisfaction of the Rating Condition, any other nationally recognized loan pricing service selected by the Borrower or the
Services Provider with notice to the Lenders; provided that the Majority Lenders may object to the selection of any loan pricing service selected pursuant to the immediately preceding clause (ii) within five Business Days after receipt
of such notice; 
 (b) if such quote described in clause (a) is not available, 

(i) the average of the bid-side quotes determined by three independent SEC-registered broker-dealers active in the trading of such asset; 

(ii) if only two such bids can be obtained, the lower of the bid-side quotes of such
two bids; or 
 (iii) if only one such bid can be obtained, such bid; 

provided that a bid provided pursuant to this clause (b) shall not be from any of the Borrower, the Services
Provider or any Affiliate of any thereof; or 
 (c) if the Market Value of an asset cannot be determined in accordance with
clause (a) or (b) above, then the Market Value shall be the Appraised Value; provided that (i) the Appraised Value of such Collateral Loan has been obtained or updated within the immediately preceding four months, (ii) if
the Appraised Value of a Collateral Loan is determined pursuant to clause (B) of the definition of “Appraised Value”, the Market Value of such Collateral Loan shall not exceed the aggregate principal amount thereof (or the portion
thereof held by the Borrower) and (iii) if the Appraised Value has been requested but has not yet been received, for assets representing an aggregate of up to 5.0% of the Total Capitalization, the Market Value determined by the Services
Provider (according to 

  
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its own internal marking procedure) exercising reasonable commercial judgment in accordance with the Servicing Standard, consistent with the manner in which it would determine the market value of
an asset for purposes of other funds or accounts managed by it; provided that the Market Value of any such asset may not be determined in accordance with this subclause (iii) for more than 45 days; provided further
that, for the avoidance of doubt, the Services Provider may, but shall not be required to, obtain an Appraised Value for any Collateral Loan; 

(d) if such quote or bid described in clause (a), (b) or (c) is not available, then the Market Value of such
Collateral Loan shall be the lower of (i) the Principal Balance of such Collateral Loan multiplied by the applicable S&P Recovery Rate for such Collateral Loan and (ii) if any, the Market Value determined by the Borrower or the
Services Provider (according to its own internal marking procedure) exercising reasonable commercial judgment in accordance with the Servicing Standard, consistent with the manner in which it would determine the market value of an asset for purposes
of other funds or accounts managed by it; provided that if the Services Provider is not a registered investment adviser under the Investment Advisers Act, the Market Value of any such asset may not be determined in accordance with this
clause (d) for more than 45 days; or 
 (e) if the Market Value of an asset cannot be determined in accordance with
clause (a), (b), (c) or (d) above, then the Market Value shall be deemed to be zero until such determination is made in accordance with clause (a), (b), (c) or (d) above. 

“Material Adverse Effect” means a material adverse effect on (a) the business, assets, financial condition or results of
operations of the Borrower or the Services Provider (taken as a whole), (b) the ability of the Borrower, the Services Provider or the Retention Holder to perform its obligations under the Loan Documents or (c) the rights, interests,
remedies or benefits (taken as a whole) available to the Lenders or the Agents under the Loan Documents. 
 “Material
Change”: An event that occurs with respect to a Collateral Loan upon the occurrence of any of the following (a) non-payment of interest or principal, (b) the rescheduling of any interest or
principal, (c) any covenant breach, (d) any restructuring of debt with respect to the Obligor of such Collateral Loan, (e) the addition of payment in kind terms, change in maturity date or any change in coupon rates and (f) the
occurrence of the significant sale or acquisition of assets by the Obligor. 
 “Maximum Principal Balance” means, as of any
date of determination and with respect to all or any specified portion of the Collateral Loans, the sum of (a) the Principal Balance of such Collateral Loans as of such date and (b) in the case of any such Collateral Loans that are
Revolving Collateral Loans or Delayed Funding Loans, the Exposure Amounts thereof. 
 “Maximum Weighted Average Life Test”
is a test satisfied on any Measurement Date if the Weighted Average Life of all Collateral Loans as of such date is less than or equal to 6.5 years minus (b) the number of years (rounded to the nearest quarter) that have elapsed
since the Closing Date. 

  
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 “Measurement Date” means each Calculation Date, each day Collateral Loans
are acquired or sold, each Collateral Report Determination Date and each day pursuant to the request of the Majority Lenders or S&P; provided that if any such date is not a Business Day, such Measurement Date shall be the next succeeding
Business Day. 
 “Minimum Diversity Score Test” means a test that will be satisfied on any Measurement Date if the
Diversity Score (calculated as a single number in accordance with standard diversity scoring methodology using S&P Industry Classifications) equals or exceeds 14. 

“Minimum Weighted Average Coupon Test” means a test that will be satisfied on any Measurement Date if the Weighted Average
Coupon equals or exceeds 7.0%. 
 “Minimum Weighted Average S&P Recovery Rate Test” means the test that will be
satisfied on any Measurement Date if the Weighted Average S&P Recovery Rate for the Collateral Loans equals or exceeds the S&P CDO Monitor Recovery Rate. 

“Minimum Weighted Average Spread Test” means a test that will be satisfied on any Measurement Date if the Weighted Average
Spread equals or exceeds the S&P Minimum Floating Spread. 
 “Money” shall have the meaning specified in Section 1-201(24) of the UCC. 
 “Moody’s” means Moody’s Investors
Service, Inc. and any successor thereto. 
 “Multiemployer Plan” means at any time a “multiemployer plan”
within the meaning of Section 4001(a)(3) of ERISA to which the Borrower or a member of its ERISA Group is then making or accruing an obligation to make contributions or has within the preceding five plan years made contributions. 

“Note” means each promissory note, if any, issued by the Borrower to a Lender in accordance with the provisions of this
Agreement, substantially in the form set forth on Exhibit A hereto, as the same may from time to time be amended, supplemented, waived or modified. 

“NYFRB”
 means the Federal Reserve Bank of New York. 

“Obligations” means all obligations, liabilities and Indebtedness of every nature of the Borrower, from time to time owing to
the Agents, the Interest Hedge Counterparties, the Lenders and the other Secured Parties under or in connection with this Agreement and the other Loan Documents, including, without limitation, (a) the unpaid principal amount of, and interest on
(including interest which, but for the commencement of an insolvency, reorganization or bankruptcy case or proceeding or any receivership, liquidation, reorganization or other similar case or proceeding with respect to the Borrower or with respect
to any of its assets, would have accrued on any Obligation, whether or not a claim is allowed against the Borrower for such interest in any such case or proceeding), all Loans then outstanding, and (b) all fees, expenses, indemnity payments and
other amounts owed to any Secured Party pursuant to this Agreement and the other Loan Documents, in each case, whether or not then due and payable, including Erroneous Payment Subrogation Rights. 

  
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 “Obligor” means, with respect to a Collateral Loan, any Person who is
obligated to repay such Collateral Loan (including, if applicable, a guarantor thereof), or any Person whose assets are relied upon by the Borrower at the time such Collateral Loan was acquired by the Borrower as the source of repayment of such
Collateral Loan. 
 “OFAC” has the meaning set forth in Section 4.23. 

“Offer” means with respect to any loan or security, any offer by the obligor or issuer of such loan or security or by any
other Person made to all of the holders of such loan or security to purchase or otherwise acquire such loan or security (other than pursuant to any redemption in accordance with the terms of the applicable Related Contracts) or to convert or
exchange such loan or security into or for Cash, securities or any other type of consideration. 
 “Other Connection Taxes”
means, with respect to any Lender or the Administrative Agent, Taxes imposed as a result of a present or former connection between such Lender or the Administrative Agent and the jurisdiction imposing such Tax (other than connections arising from
such Lender or the Administrative Agent having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or
enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 
 “Other Taxes” means all
present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a
security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 11.5).

 “Overcollateralization Ratio” means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by
dividing: 
 (a) the sum of (i) the Principal Collateralization Amount as of such date plus (ii) the
Portfolio Exposure Amount (excluding any Unsettled Amounts to the extent already included in the amount in clause (i)) for all Collateral Loans as of such date; by 

(b) the sum of (i) the aggregate outstanding principal amount of the Loans as of such date plus (ii) the
Portfolio Exposure Amount for all Collateral Loans as of such date. 
 “Overcollateralization Ratio Test” means a test
satisfied on any Measurement Date if the Overcollateralization Ratio equals or exceeds 159.09%. 
 “Parent” means Owl Rock
Capital Corporation, a Maryland corporation. 
 “Participant” has the meaning set forth in
Section 12.6(b)(i). 
 “Participant Register” has the meaning set forth in
Section 12.6(b)(ii). 

  
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 “Participation Interest” means a participation interest in a loan that, at
the time of acquisition, or the Borrower’s commitment to acquire the same, satisfies each of the following criteria: (i) such participation interest would constitute a Collateral Loan were it acquired directly, (ii) the Selling
Institution is a lender in respect of such loan, (iii) the aggregate participation interest in such loan granted by such Selling Institution to any one or more participants does not exceed the principal amount or commitment with respect to
which the Selling Institution is a lender under such loan, (iv) such participation interest does not grant, in the aggregate, to the participant in such participation interest a greater interest than the Selling Institution holds in the loan or
commitment that is the subject of the participation interest, (v) except to the extent that such participation is a contribution to equity by the Seller to the Borrower, the entire purchase price for such participation interest is paid in full
at the time of the Borrower’s acquisition thereof (or, in the case of a participation interest in a Revolving Collateral Loan or a Delayed Funding Loan, at the time of the funding of such Revolving Collateral Loan or Delayed Funding Loan, as
applicable), (vi) the participation interest provides the participant all of the economic benefit and risk of the whole or part of the loan or commitment that is the subject of the participation interest and (vii) such participation
interest is documented under a Loan Syndications and Trading Association, Loan Market Association or similar agreement standard for loan participation transactions among institutional market participants or the Sale and Contribution Agreement. For
the avoidance of doubt, a Participation Interest shall not include a sub-participation interest in any loan. 

“PATRIOT Act” means the “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001” (Title III of Pub. L. 107-56 (signed into law October 26, 2001)). 

“Payment Account” means the payment account established pursuant to Section 8.3(a). 

“Payment Date Report” has the meaning set forth in Section 9.1(c). 

“Payment Recipient” has the meaning set forth in Section 7.9. 

“Percentage Share” means, when used: 

(a) with respect to a Revolving Lender’s obligation to make Revolving Loans and right to receive payments of interest,
fees, principal and other amounts with respect thereto, the percentage obtained by dividing (i) such Revolving Lender’s Revolving Commitment by (ii) the Total Revolving Commitment; provided that, if the Total Revolving
Commitment has been reduced to zero, the numerator shall be the aggregate unpaid principal amount of such Revolving Lender’s Revolving Loans and the denominator shall be the aggregate unpaid principal amount of all Revolving Loans; 

(b) with respect to a Term Lender’s obligation to make Term Loans and right to receive payments of interest, fees,
principal and other amounts with respect thereto, the percentage obtained by dividing (i) such Term Lender’s Term Commitment by (ii) the Total Term Commitment; provided that, if the Total Term Commitment has been reduced to
zero, the numerator shall be the aggregate unpaid principal amount of such Term Lender’s Term Loans and the denominator shall be the aggregate unpaid principal amount of all Term Loans; and 

  
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 (c) with respect to any other matters, for any Lender, the percentage
obtained by dividing (i) the sum of such Lender’s Undrawn Commitments plus the aggregate outstanding principal amount of Loans held by such Lender at such time by (ii) the sum of all Lenders’ Undrawn Commitments
plus the aggregate outstanding principal amount of all Loans at such time. 
 “Permitted Distribution” means any of
the following: 
 (a) (a) a distribution made pursuant to Sections 6.4 or 9.1; or

 (b) (b) a distribution to the Parent from the proceeds of the sale of Collateral
Loans in connection with a Permitted Securitization, so long as (x) after giving effect to such distribution and to any related prepayment of Loans from the proceeds of such sale pursuant to Section 2.7(h), (i) no
Event of Default or Default is in effect or would result from such distribution and any related prepayment of Loans and (ii) the Senior Advance Rate Test, each Collateral Quality Test, the Concentration Limitations, the requirements of
Section 5.37 and the Coverage Tests are satisfied, (y) the Administrative Agent has confirmed in writing to the Borrower that it is reasonably satisfied that the requirements set forth in clause (x) hereof are
satisfied, and (z) the Borrower gives at least two Business Days’ notice concerning such distribution to the Agents and S&P (which notice shall contain a certificate of an Authorized Officer of the Borrower certifying as to the
satisfaction of the requirements set forth in sub-clause (x) above with respect to such distribution). 

“Permitted Liens” means (a) Liens for Taxes, assessments or charges if such Taxes, assessments or charges shall not at
the time be due and payable or if the Borrower shall currently be contesting amount or the validity thereof in good faith by appropriate proceedings and with respect to which reserves in accordance with GAAP have been provided on the books of the
Borrower, and no enforcement, collection, execution, levy or foreclosure proceeding shall have been commenced with respect to such Liens, (b) Liens granted pursuant to or by the Loan Documents, (c) Liens in favor of the Borrower created
pursuant to Sale and Contribution Agreement and assigned to the Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement, (d) the restrictions on transferability imposed by the Related Contracts (but only to the extent
relating to customary procedural requirements and agent and Obligor consents (except where the Services Provider or any of its Affiliates is the agent) expected to be obtained in due course and provided that any Obligor consents will be
obtained prior to the delivery of the related Collateral hereunder pursuant to Section 8.7), (e) the restrictions on transferability imposed by any shareholder agreements in respect of Equity Securities acquired in
connection with the restructuring of a Collateral Loan or the exercise of remedies with respect thereto, (f) with respect to agented Collateral Loans, Liens in favor of the lead agent, the collateral agent or the paying agent for the benefit of
all holders of indebtedness of such Obligor under the related Collateral Loan, (g) materialman’s, warehouseman’s, mechanics’ and other Liens arising by operation of law in the ordinary course of business if such sums shall not at
the time be due and payable or if the appropriate person shall currently be contesting the validity thereof in good faith and no enforcement, collection, execution, levy or foreclosure proceeding shall have been commenced with respect to such Liens,
(h) Liens in favor of the Custodian or Securities Intermediary to secure amounts owing to it pursuant to the Account Control Agreement and (i) with respect to any Collateral Loans, Liens on the underlying collateral for such Collateral
Loans. 

  
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 “Permitted Parent Distribution” means a distribution by the Borrower to the
Parent from the proceeds of Borrowings hereunder or other funds in the Collection Account that satisfies all of the following conditions: (x) such distribution occurs during the Reinvestment Period, (y) as evidenced by a compliance
certificate delivered by the Borrower to the Administrative Agent not later than 2:00 p.m. (New York City time) at least one Business Day prior to the day of such distribution, which certificate shall set forth the amount of such distribution and
all relevant calculations with respect thereto, after giving effect to such distribution (i) no Event of Default or Default is in effect or would result from such distribution and any related prepayment of Loans and (ii) the Senior Advance
Rate Test, each Collateral Quality Test, the Concentration Limitations, the requirements of Section 5.37 and the Coverage Tests are satisfied; provided that, solely for purposes of determining whether the
Overcollateralization Ratio Test and the Senior Advance Rate Test are satisfied for purposes of this clause (ii), the Principal Collateralization Amount in “Overcollateralization Ratio” and in “Senior Advance Rate” shall be
calculated using, (1) for (a) any Collateral Loan that is not a Defaulted Loan,
LongLong- Dated Loan or
Current Pay Obligation and has a current Market Value of less than 95% of its par amount and (b) Current Pay Obligations up to 5.0% of Total Capitalization that have a current Market Value of less than 95% of their respective par amount
(measured separately with respect to each Current Pay Obligation), the lesser of the Market Value and the purchase price of such Collateral Loan and (2) for any Collateral Loan that is not included in clause (1) above (including,
for the avoidance of doubt, Current Pay Obligations in excess of 5.0% of Total Capitalization), the method of calculation set out in the definition of Principal Collateralization Amount and (z) the Borrower gives at least two Business
Days’ notice of such distribution to the Agents and S&P. For the avoidance of doubt, the foregoing conditions will not apply to any acquisitions of any new Collateral Loans by the Borrower from the Parent or any Affiliate of the Parent.

 “Permitted Securitization” means any securitization in a capital market transaction or private placement offering
wherein Société Générale or an Affiliate thereof acts as the primary arranger in which the Borrower sells Collateral pledged hereunder, directly or indirectly, to an Affiliate or an affiliated entity that issues or
arranges for the issuance of asset-backed debt obligations (whether in the form of notes or revolving and/or term loans) collateralized, in whole or in part, by such Collateral. 

“Person” means an individual, a corporation, a partnership, an association, a trust, a limited liability company, member or
any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 
 “PIK
Loan” means any loan that by its terms permits the deferral or capitalization of payment of accrued and unpaid interest, excluding any loan that provides for periodic payments of interest thereon in cash no less frequently than semi-annually and the portion of interest required to be paid in cash under the terms of the applicable Related Contract results in such loan having an effective rate of current interest paid in cash on such day of
not less than (a) in the case of a Fixed Rate Obligation, 4.0% per annum or (b) otherwise, 3.0% per annum over the applicable index rate. For the avoidance of doubt, if the Obligor under a loan described in the exclusion above fails to
make a required cash interest payment thereunder and such failure continues longer than the grace period set forth for such payment in clause (a) of the definition of “Defaulted Loan”, such loan shall be considered a Defaulted Loan.

  
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 “Plan” means at any time an “employee pension benefit plan” as
defined in Section 3(2) of ERISA (other than a Multiemployer Plan) which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained, or contributed to,
by the Borrower or a member of its ERISA Group or (ii) has at any time within the preceding five plan years been maintained, or contributed to, by the Borrower or a member of its ERISA Group. 

“Platform” is defined in Section 12.16(c). 

“Pledged Collateral” has the meaning specified in the Granting Clause hereof. 

“Portfolio Exposure Amount” means the excess (if any) of the sum of (i) the aggregate Exposure Amount at such time
plus (ii) Unsettled Amounts over (iii) the sum of (x) amounts on deposit in the Future Funding Reserve Account on such date and (y) amounts on deposit in the Collection Account on such date, including Eligible
Investments, representing Principal Proceeds. 
 “Post-Default Rate” has the
meaning assigned to such term in Section 2.5(c). 
 “Post-Transition S&P CCC Collateral Loan”
means, a Collateral Loan that, at the time the Borrower committed to acquire such Collateral Loan, has an application to S&P for a credit estimate pending and that, upon the provision of such credit estimate (after the acquisition of such
Collateral Loan by the Borrower), becomes a CCC Collateral Loan. 
 “Prime Rate” means, for any day, the rate of interest
in effect for such day that is identified and normally published by The Wall Street Journal as the “Prime Rate” (or, if more than one rate is published as the Prime Rate, then the highest of such rates), with any change in Prime Rate to
become effective as of the date the rate of interest which is so identified as the “Prime Rate” is different from that published on the preceding Business Day. If The Wall Street Journal no longer reports the Prime Rate, or if the Prime
Rate no longer exists, or the Administrative Agent determines in good faith that the rate so reported no longer accurately reflects an accurate determination of the prevailing Prime Rate, then the Administrative Agent may select a reasonably
comparable index or source to use as the basis for the Prime Rate. Notwithstanding the foregoing or any other provision of this Agreement, the rate calculated pursuant to this definition shall not be less than 0%. 

“Principal Allocation Formula” means: 

(a) prior to the end of the Reinvestment Period, with respect to a prepayment of the Loans as specifically set forth herein:

 first, to the Revolving Loans in an amount equal to the excess, if any, of (x) the Portfolio Exposure Amount
on such Quarterly Payment Date (or other applicable date of payment) over (y) the aggregate Undrawn Commitments in respect of the Revolving Loans on such Quarterly Payment Date (or other applicable date of payment), and 

  
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 second, to each of the Revolving Loans and Term Loans in accordance
with their respective Principal Sharing Percentages (determined immediately prior to the application provided for in this clause second); and 

(b) on the last day of the Reinvestment Period and after the end of the Reinvestment Period, with respect to a prepayment of
the Loans as specifically set forth herein, to each of the Revolving Loans and Term Loans in accordance with their respective Principal Sharing Percentages (determined immediately prior to the application provided for in this clause (b)); 

provided, in each case, that if the Principal Allocation Formula would result in the allocation of a payment of principal to the
Revolving Loans in excess of the aggregate outstanding principal amount thereof, then the amount of such excess shall be deposited into the Future Funding Reserve Account. 

“Principal Balance” means, as of any date of determination with respect to any Collateral Loan, the aggregate outstanding
principal amount of such Collateral Loan as of such date, excluding (a) deferred or capitalized interest on any Collateral Loan (other than any such interest that was added to principal on or before the date when such Collateral Loan was
acquired by the Borrower) and (b) any portion of such principal amount that has been assigned or participated by the Borrower pursuant to Section 10.1. 

“Principal Collateralization Amount” means, at any time, the sum of: 

(a) the Aggregate Principal Balance of all Collateral Loans (excluding Defaulted Loans, Discount Loans, Long DatedLong-Dated Loans and
Current Pay Obligations (each as to which the applicable rule below shall apply)); plus 
 (b) (i) the aggregate
amount of funds on deposit in the Collection Account, including Eligible Investments, constituting Principal Proceeds plus (ii) the aggregate amount of funds on deposit in the Future Funding Reserve Account, constituting Principal
Proceeds, including Eligible Investments; plus 
 (c) for all Discount Loans, the aggregate of the purchase prices,
excluding accrued interest, expressed as a Dollar amount, for such Discount Loans (after adding the amount of any subsequent borrowings and/or subtracting the amount of any subsequent repayments thereof); plus 

(d) for each Defaulted Loan that has been a Defaulted Loan for less than one year, the Recovery Value and, for each other
Defaulted Loan, zero; plus 
 (e) for each Long
DatedLong-Dated Loan, the product of (x) the aggregate outstanding balance of such
Collateral Loan and (y) the S&P Recovery Rate of such Collateral Loan; plus 

  
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 (f) (i) for Current Pay Obligations up to 5.0% of Total Capitalization,
the Aggregate Principal Balance of all such Current Pay Obligations, plus (ii) for each Current Pay Obligation in excess of 5.0% of Total Capitalization, 90% of such Current Pay Obligation’s Market Value (which is not determined
pursuant to clause (d) or subclause (iii) in the proviso of clause (c) of the definition thereof) (but no greater than the par value of such Current Pay Obligation); minus 

(g) the CCC Excess Adjustment Amount; 

provided that (i) with respect to any Collateral Loan that satisfies more than one of the definitions of Defaulted Loan, Discount
Loan, Long DatedLong-Dated
Loan or Current Pay Obligation such Collateral Loan shall, for the purposes of this definition, be treated as belonging to the category of Collateral Loans which results in the lowest Principal Collateralization Amount on any date of determination,
(ii) the Principal Collateralization Amount for any Defaulted Loan which has been a Defaulted Loan for one year or more will be zero and (iii) notwithstanding the foregoing provisions, the Principal Collateralization Amount of any
Collateral Loan held in the form of a Closing Date Participation after the date that is the 60 days after Closing Date will be the Recovery Value. 

“Principal Proceeds” means (a) with respect to any Pledged Collateral (including Cash) any payments with respect thereto
that are attributable to principal in accordance with the Related Contracts of such Pledged Collateral or that do not otherwise constitute Interest Proceeds (including unapplied proceeds of the Collateral Loans), (b) any upfront or net
termination payments paid to the Borrower under any Interest Hedge Agreement, (c) fees received in connection with the reduction of principal of a Collateral Loan (but not any principal repaid in connection therewith) and (d) any cash
capital contributions made to the Borrower that are to be treated as Principal Proceeds in accordance with Section 6.5. All sales or assignments of Collateral Loans or any portion thereof pursuant to
Section 10.1 shall be for cash on a non-recourse basis the proceeds of which shall be deemed to be Principal Proceeds for all purposes hereunder (other than proceeds representing
accrued interest), and all amounts deposited pursuant to Section 6.5 and designated as Principal Proceeds in accordance therewith shall be deemed to be Principal Proceeds for all purposes hereunder. No amounts that are
required by the terms of any participation agreement to be paid by the Borrower to any Person to whom the Borrower has sold a participation interest shall constitute “Principal Proceeds” hereunder. 

“Principal Sharing Percentage” means, with respect to any payment of principal of the Loans that is to be allocated according
to the Principal Allocation Formula, a fraction, expressed as a percentage: 
 (a) the numerator of which is: 

(i) in the case of the Term Loans, the aggregate principal amount of the Term Loans outstanding on such date; or 

  
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 (ii) in the case of the Revolving Loans, the lesser of (x) the sum of
(A) the aggregate principal amount of the Revolving Loans outstanding on such date and (B) the Portfolio Exposure Amount on such date and (y) the amount of the Total Revolving Commitment on such date; provided that if the Total
Revolving Commitment has been reduced to zero, then the amount determined pursuant to this clause (ii) shall equal the aggregate principal amount of the Revolving Loans outstanding on such date, and 

(b) the denominator of which is the sum of: 

(i) the aggregate principal amount of the Term Loans outstanding on such date; and 

(ii) the lesser of (x) the sum of (A) the aggregate principal amount of the Revolving Loans outstanding on such date
and (B) the Portfolio Exposure Amount on such date and (y) the amount of the Total Revolving Commitment on such date; provided that if the Total Revolving Commitment has been reduced to zero, the amount determined pursuant to this
clause (ii) shall equal the aggregate principal amount of the Revolving Loans outstanding on such date. 
 “Priority of
Payments” has the meaning set forth in Section 9.1(a); provided that, at all times after the Majority Lenders have exercised their right to direct the liquidation of the Collateral under
Article VI, “Priority of Payments” shall mean the priorities set forth in Section 6.4 hereof. 

“Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. 

“Program Manager” means the investment manager or administrator of a CP Lender, as applicable. 

“Prohibited Defense Asset” means a Collateral Loan in respect of which the related Obligor’s
 primary direct business is the production or distribution ofObligor (a) derives (i) 10% or more of its revenues from the production, use, storage, trade, or the maintenance, transportation and financing of
controversial weapons or components specifically designed for those types of controversial weapons (including antipersonnel landmines, cluster munitions, biological
and chemical, radiological and nuclear weapons or any primary component used specifically in the production of any such weapon system or which plays a direct role in the lethality of any such weapon system.weapons, chemical and biological weapons, depleted uranium, nuclear weapons and white phosphorus) including any products which are prohibited
under applicable international treaties or conventions (including but not limited to The Ottawa Convention on anti-personnel landmines, which entered into force on
1 March 1999, the Oslo convention on cluster munitions, which entered into force on
1 August 2010, the convention on the Prohibition of the Development, Production and Stockpiling of
Bacteriological that entered into force on 26 March 1975. Biological and Toxin Weapons and on Their
Destruction (BTWC), which entered into force in 1975, the Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction (CWC), which entered into force in 1997, the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), rigorously controlled by the United Nations that entered into force on
5 March 1975 and the Council Regulation (EU) 2018/1542 of 15 October
2018 concerning restrictive measures against the proliferation and use of chemical weapons), or (ii) 10%
or more of their revenues by supporting or providing assistance, research and technology dedicated only to those Controversial Weapons. 

 

  
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 “Prohibited Industry” means with respect to any Obligor, its primary business is at the time of the
acquisition of the related Collateral Loan, (a) is a business described in the definition of
Prohibited Defense Asset; (b) the manufacture of fully completed and operational assault weapons or firearms; (c) in pornography or adult entertainment; (d) coal mining and/or coal-based power generation; (e) in the oil sands and associated pipelines industry; (f) in the food commodity derivatives industry; (g) in the growth and sale of tobacco; (h) upstream production and / or processing of palm oil and palm fruit products; or
(i) the making or collection of pay day loans or any unlicensed
and unregistered financing.that derives 25% or more of its revenues from the production, use, storage, trade, or
the maintenance, transportation, and financing of weapons firearms, (c) that derives 10% or more of its
revenues from activities related to pornography and prostitution, (d) (i) that derives 50% or more of its
revenues from coal, (ii) extracts more than 20 million tons of coal
per year, or
(iii) derives 25% or more of its revenues from thermal coal extraction, (e) is a power generation company that
(i) has 25% or more of electricity generation capacities powered by coal, (ii) plans to expand coal power generation capacity by more than 3,000 MW in the medium run, (f) that derives (i) 25% or more of its revenues from tar sands extraction, (ii) 10% or more of its revenue from tar sands transportation,
(g) that derives (i) 25% or more of its revenues from speculative transactions of soft commodities (such
as wheat, rice, meat, soy, sugar, dairy, fish, and corn) or (ii) that transacts with companies whose main
business is the production/trading of such commodities, (h), that derives 25% or more of its revenues from the production or sale of tobacco and tobacco products such as cigars, cigarettes, e-cigarettes,
smokeless tobacco, dissolvable and chewing tobacco whether directly or indirectly through majority-owned (50%) subsidiaries,
(i) that (i) derives 10% or more of its revenues from
non-sustainable palm oil production whether directly or indirectly through majority-owned (50%) subsidiaries or owns over 30.000 ha of palm oil plantations that do not have the Certified Sustainable Palm Oil
(CSPO) label, (ii) has unresolved land rights conflicts (iii) is unable to prove the legality of its operations, or (iv) has not undertaken social and environmental impact assessments in relation to palm oil production, (j) that derives more than 25% of its revenues from pay-day lending, fraudulent and coercive loan
origination, highly speculative financial operations, and activities facilitating or enabling illegal non-payment or underpayment of taxes. For purposes hereof “Pay-day lending” means any short-term unsecured loan that
doesn’t
 meet a legal limit regarding the annual percentage rate (APR) or is primarily provided payday lending (i.e. the extension of high-cost short-term credit); or
(k) severely breaches the
UN’s
 Global Compact Principles, International Labor Organization’s (ILO) Conventions, OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights
(UNGPs). 
 “Prohibited Transaction” means a transaction prohibited under Section 406(a) of ERISA, that
is not exempted by a statutory or administrative or individual exemption pursuant to Section 408 of ERISA. 

  
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 “Proposed Portfolio” means the portfolio of Collateral Loans and Eligible
Investments resulting from the proposed purchase, sale, maturity or other disposition of a Collateral Loan or a proposed reinvestment in an additional Collateral Loan, as the case may be. 

“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be
amended from time to time. 
 “QFC” has the meaning assigned to the term “qualified financial contract” in, and
shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 
 “QFC Credit Support” has the meaning set forth in
Section 15.1. 
 “Quarterly Cap” means, with respect to any Quarterly Payment Date, an amount
equal to (x) $250,000 per annum (prorated for the related Interest Period on the basis of the actual number of days in the current calendar year and the actual number of days elapsed) plus (y) 0.02% per annum (prorated for the
related Interest Period on the basis of the actual number of days in the current calendar year and the actual number of days elapsed) multiplied by the sum of, without duplication, (i) the Aggregate Principal Balance of all Collateral
Loans, (ii) the aggregate amount of funds on deposit in the Collection Account, including Eligible Investments, constituting Principal Proceeds and (iii) the aggregate amount of funds on deposit in the Future Funding Reserve Account,
including Eligible Investments and the Portfolio Exposure Amount, in each case, measured as of the Calculation Date immediately preceding such Quarterly Payment Date. 

“Quarterly Payment Date” means the 15th day of March, June, September and December in each year, commencing in December
2019, and the Stated Maturity; provided that if any such date is not a Business Day, such Quarterly Payment Date shall be the next succeeding Business Day. 

“Rating Agency” means (i) with respect to the Loans, S&P (and/or, if, at any time any other nationally recognized
investment rating agency provides a rating of any Loans solicited by the Borrower, such rating agency) or (ii) with respect to the Collateral generally, S&P (or, if, at any time S&P ceases to provide rating services with respect to debt
obligations, any other nationally recognized investment rating agency selected by the Borrower or the Services Provider). 
 In the event
that at any time S&P ceases to be a “Rating Agency” and a replacement rating agency is selected in accordance with the preceding sentence, then references to rating categories of such replaced rating agency in this Agreement shall be
deemed instead to be references to the equivalent categories of such replacement rating agency as of the most recent date on which such replacement rating agency and such replaced rating agency’s published ratings for the type of obligation in
respect of which such replacement rating agency is used. 
 “Rating Condition” means, with respect to any action taken or
to be taken by or on behalf of the Borrower that is expressed to be subject to such condition in any Loan Document, a condition that is satisfied if S&P has confirmed in writing (which may take the form of a press release, electronic messages,
facsimile, posting to its internet website, other written communication or other means then considered industry standard) that such action will not cause the then-current rating of the Loans by S&P to be
reduced or withdrawn; provided that the Rating Condition will be deemed to be satisfied with respect to any such action if (i) at the time of 

  
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determination, no Loans are then rated by S&P; (ii) the Agents and all of the Lenders provide their written approval as to such action and written notice thereof is given to S&P;
(iii) S&P has made a public statement to the effect that it will no longer review events or circumstances of the type requiring satisfaction of the Rating Condition in this Agreement for purposes of evaluating whether to confirm the then-current ratings (or Initial Rating) of the Loans rated by S&P; or (iv) S&P has communicated to the Borrower, the Services Provider or either Agent (or their respective counsel) that it will not
review such event or circumstances for purposes of evaluating whether to confirm the then-current ratings (or Initial Rating). 

“Real Estate Loan” means any debt obligation that is (a) directly or indirectly secured by a mortgage, deed of trust or
similar Lien on commercial real estate, residential real estate, office, retail or industrial property or undeveloped land, is underwritten as a mortgage loan and is not otherwise associated with an operating business or (b) a loan to a company
engaged primarily in acquiring and developing undeveloped land (whether or not such loan is secured by real estate). 
 “Recovery
Value” means, for (x) each Defaulted Loan that has been a Defaulted Loan for less than one year and (y) each Collateral Loan held in the form of a Closing Date Participation after the date that is the 60 days after Closing
Date, the lowest of: 
 (i) the Principal Balance of such Defaulted Loan or Closing Date Participation multiplied by
the applicable S&P Recovery Rate for such Defaulted Loan or Closing Date Participation, as applicable; 
 (ii) the Market
Value of such Defaulted Loan or Closing Date Participation; and 
 (iii) the carrying value of such Defaulted Loan or Closing
Date Participation on the books and records of the Borrower (or its Affiliates). 
 “Reference Time” means, with respect to any setting of the then-current
Benchmark means 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such setting., (i) if such Benchmark is based on Term SOFR, then two Business Days prior to such setting, or (ii) in the case of any other Benchmark, the time determined by the Administrative Agent in its reasonable discretion. 

“Register” has the meaning set forth in Section 12.6(f). 

“Registered” means in registered form within the meaning of Sections 881(c)(2)(B)(i) and 163(f) of the Code and Section 5f.103-1(c) and Proposed Section 1.163-5(b) of the United States Department of the Treasury regulations and issued after July 18, 1984 (or, in each
case, any amended or successor version). 
 “Regulation U” means Regulation U of the Federal
Reserve Board, as in effect from time to time. 

  
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 “Reinvestment Period” means the period from and including the Closing Date
to and including the earliest of (a) April
1October 3
, 2022, extendable upon the Lenders’ and Borrower’s mutual consent, (b) the date of the acceleration of the maturity of the Loans or the termination of the Revolving Commitments pursuant to
Section 6.2, (c) any date on which the Borrower or the Services Provider reasonably determines that it can no longer acquire additional Collateral Loans appropriate for inclusion in the Collateral in accordance with
the terms of this Agreement and Corporate Services Agreement (provided that, in the case of this clause (c), an Authorized Officer of the Services Provider shall provide a written certification as to such determination to the Agents, the
Lenders and S&P at least five Business Days prior to such date), (d) any date on which the Majority Lenders provide written notice to the Borrower that an event constituting “cause” as defined in the Corporate Services Agreement
has occurred, if as of the date of such notice, such “cause” event has not been waived by all the Lenders or cured and (e) the occurrence of the resignation or assignment (unless the Administrative Agent has consented to such
assignment) by the Services Provider of its rights and obligations under this Agreement and the Corporate Services Agreement. 

“Related Contracts” means all credit agreements, indentures, note purchase agreements, notes, security agreements, leases,
financing statements, guaranties, and other contracts, agreements, instruments and other papers evidencing, securing, guaranteeing or otherwise relating to any Collateral Loan or Eligible Investment or other investment with respect to any Collateral
or proceeds thereof (including the applicable underlying instruments and any Loan Assignment Agreement), together with all of the Borrower’s right, title and interest in and to all property or assets securing or otherwise relating to any
Collateral Loan or other loan or security of the Borrower or Eligible Investment or other investment with respect to any Collateral or proceeds thereof or any Related Contract. 

“Related CP Issuer” means a multi-seller commercial paper conduit
that issues commercial paper, the proceeds of which are loaned to or are otherwise the CP Lender’s source of funding for the CP Lender’s acquisition or maintenance of its funding obligations hereunder. 

“Related Property” has the meaning assigned to such term in the Granting Clause. 

“Relevant Governmental
Body” means the Federal Reserve Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board or the Federal Reserve Bank of New York,
or any successor thereto. 
 “Repurchase Price” means, for any Warranty Collateral
Loan for which a payment or substitution is being made pursuant to Section 10.1(d) as of any time of determination, a dollar amount equal to the greater of (i) the fair market value and (ii) the Purchase Price of
such Loan Asset paid by the Borrower, in each case less all Principal Proceeds received in respect of such Loan Asset from the date of acquisition by the Borrower to the date of such repurchase or substitution plus any such Principal
Proceeds that the Borrower shall have been required to repay to the Obligor with respect to such Loan Asset. 
 “Required S&P
Credit Estimate Information” means S&P’s “Credit Estimate Information Requirements” dated April 2011 and any other available information S&P reasonably requests in order to produce a credit estimate for a particular
asset. 

  
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 “Resolution Authority” means any body which has authority to exercise any
Write-Down and Conversion Powers. 
 “Restricted Person” is defined in Section 12.17(a). 

“Retained Expense Amount” with respect to any Quarterly Payment Date means the amount, if any, by which (x) the sum of
the amount determined pursuant to the definition of “Quarterly Cap” for such Quarterly Payment Date and each of the three prior Quarterly Payment Dates exceeds (y) the sum of (i) the aggregate payments made under
Section 9.1(a)(i)(A)(2) on such Quarterly Payment Date and each of the three prior Quarterly Payment Dates and (ii) Administrative Expenses paid pursuant to Section 8.2(d) during each of the
Due Periods prior to each of the three prior Quarterly Payment Dates. 
 “Retention Holder” means Owl Rock Capital
Corporation, and any successor thereto, as permitted by the EU Retention Requirements. 
 “Retention Letter” means a letter
relating to the retention of net economic interest in substantially the form of Exhibit G hereto (relating to the EU Retention Requirements), from the Retention Holder and addressed to the Borrower, the Administrative Agent
and any Affected Lender on the Closing Date and for the benefit of any future Affected Lender, which shall include such letter entered into as of the Closing Date and each letter amending, restating, replacing, supplementing, updating or otherwise
modifying such letter. 
 “Revolving Commitment” means, with respect to each Revolving Lender, the commitment of such
Revolving Lender to make Revolving Loans to the Borrower during the Commitment Period in the amount set forth opposite such Revolving Lender’s name on the signature pages hereto (or pursuant to an Assignment and Assumption), as such amount may
be terminated or reduced (including pursuant to Section 2.7) in accordance with the terms of this Agreement. 

“Revolving Lender” means each Person that is listed as a “Revolving Lender” on the signature pages hereto, any
Person that shall have become a party hereto pursuant to an Assignment and Assumption in respect of the Revolving Loans and, in each case, their respective successors, in each case other than any such Person that ceases to be a party hereto pursuant
to an Assignment and Assumption in respect of the Revolving Loans. 
 “Revolving Loans” has the meaning assigned to such
term in Section 2.1. 
 “Revolving Collateral Loan” means a Collateral Loan that provides the
Obligor thereunder with a revolving credit facility from which one or more borrowings may be made up to the stated principal amount of such revolving credit facility and which provides that borrowed amounts may be repaid and reborrowed from time to
time. 
 “Sale and Contribution Agreement” means the Sale and Contribution Agreement dated as of the date hereof, between
the Seller, as seller, and the Borrower, as borrower, as amended, restated, supplemented or otherwise modified from time to time. 

  
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 “Sale Proceeds” means all proceeds (excluding accrued interest, if any)
received with respect to Collateral as a result of sales of such Collateral less any reasonable expenses incurred by the Borrower, the Services Provider or the Collateral Agent (other than amounts payable as Administrative Expenses) in connection
with such sales. 
 “Sanctioned Person” means any Person that is a designated target of any Sanctions or otherwise a
subject of any Sanctions, including as a result of being (a) owned or controlled directly or, to the Borrower’s knowledge, indirectly by any Persons (or Person) that are designated targets of any Sanctions, or (b) organized or
operating under the laws of, or a resident of, any country that is subject to any country-wide or territory-wide Sanctions. 

“Sanctions” means any economic or financial sanctions or trade embargoes (or similar measures) imposed, administered or
enforced from time to time by (a) the United States of America (including the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State), (b) the United Nations Security Council, (c) the
European Union or any member state thereof or (d) Her Majesty’s Treasury of the United Kingdom. 
 “Scenario Default
Rate” means, with respect to the Loans at any time, an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with S&P’s initial rating of the Loans, determined by
application by the Services Provider and the Collateral Administrator of the S&P CDO Monitor at such time. 
 “Scheduled
Distribution” means, with respect to any Collateral Loan, for each Due Date, the scheduled payment of principal and/or interest and/or fees due on such Due Date with respect to such Collateral Loan, determined in accordance with the
assumptions specified in Section 1.3. 
 “SEC” means the United States Securities and Exchange
Commission. 
 “Second Amendment Effective Date” means March 15, 2021. 

“Second Lien Loan” means any loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to
any other obligation of the Obligor of the loan other than (i) trade claims, capitalized leases or similar obligations and (ii) Senior Secured Loans of the Obligor; (b) is secured by a valid
second-priority perfected security interest or lien in, to or on specified collateral securing the Obligor’s obligations under the Second Lien Loan the value of which is adequate (in the commercially
reasonable judgment of the Borrower) to repay the loan in accordance with its terms and to repay all other loans of equal or higher seniority secured by a lien or security interest in the same collateral and (c) is not secured solely or
primarily by common stock or other equity interests; provided that the limitation set forth in this clause (c) shall not apply with respect to a loan made to a parent entity that is secured solely or primarily by the stock of one or more
of the subsidiaries of such parent entity to the extent that (i) the granting by any such subsidiary of a lien on its own property would violate law or regulations applicable to such subsidiary (whether the obligation secured is such loan or
any other similar type of indebtedness owing to third parties) and (ii) such subsidiary does not have any Indebtedness (other than current accounts payable in the ordinary course of business, capitalized leases or other similar indebtedness
incurred in the ordinary course of business). 

  
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 “Secured Parties” means, collectively, the Agents, any Interest Hedge
Counterparty, the Collateral Administrator, the Custodian, the Document Custodian, the Securities Intermediary and the Lenders. 

“Securities Intermediary” means State Street Bank and Trust Company, in its capacity as securities intermediary under the
Account Control Agreement. 
 “Securitisation Regulation” means Regulation (EU) 2017/2402 of the European Parliament and of
the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, including any implementing regulation, technical standards. 

“Seller” means Owl Rock Capital Corporation. 

“Selling Institution” means an entity (including, but not limited to, the Seller) obligated to make payments to the Borrower
under the terms of a Participation Interest. 
 “Senior Advance Rate” means, as of any Measurement Date (or other
applicable date), the ratio (expressed as a percentage) obtained by dividing: 
 (a) the sum of (i) the aggregate
outstanding principal amount of all Loans as of such date plus (ii) the Portfolio Exposure Amount for all Collateral Loans as of such date; by 

(b) the sum of (i) the Principal Collateralization Amount as of such date plus (ii) the Portfolio Exposure
Amount (excluding any Unsettled Amounts to the extent already included in the amount in clause (i)) for all Collateral Loans as of such date. 

“Senior Advance Rate Test” means a test satisfied on any Borrowing Date or other date of determination if the Senior Advance
Rate at such time is less than or equal 56.0%. 
 “Senior Authorized Officer” means, with respect to any Person, any
officer of such Person that is a chief executive officer, chief operating officer, chief credit officer, credit committee member, executive vice president or president (or, in each case, any other officer with a position analogous to those
identified above and in the case of any limited liability company, any manager) or any other officer responsible for the management or administration of the Collateral or the performance of such Person’s obligations under the Loan Documents.

 “Senior Secured Loan” means any loan (including, except as otherwise explicitly stated herein, any First Lien/Last Out
Loan) that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the Obligor of such loan (other than with respect to trade claims, capitalized leases or similar obligations and traditional bank
revolving asset-based loan facilities that are reasonable and customary for similar loans); (b) is secured by a valid first priority perfected security interest or lien in, to or on specified collateral
securing the Obligor’s obligations under such loan; (c) the value of the collateral securing such loan at the time of acquisition together with other attributes of the Obligor (including, without limitation, its general financial
condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the 

  
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Borrower) to repay such loan in accordance with its terms and to repay all other such loans of equal seniority secured by a first lien or security interest in the same collateral; and (d) is
not secured solely or primarily by common stock or other equity interests; provided that the limitation set forth in this clause (d) shall not apply with respect to a loan made to a parent entity that is secured solely or primarily by
the stock of one or more of the subsidiaries of such parent entity to the extent that (i) the granting by any such subsidiary of a lien on its own property would violate law or regulations applicable to such subsidiary (whether the obligation
secured is such loan or any other similar type of indebtedness owing to third parties) and (ii) such subsidiary does not have any Indebtedness (other than current accounts payable in the ordinary course of business, capitalized leases or other
similar indebtedness incurred in the ordinary course of business). 
 “Senior Services Fee” has the meaning assigned to
such term in the Corporate Services Agreement. 
 “Services Fee” means, collectively, the Senior Services Fees and the
Subordinated Services Fees. 
 “Services Provider” means Owl Rock Capital Corporation, or any successor in such capacity in
accordance with the Corporate Services Agreement. 
 “Servicing Standard” means, with respect to the Borrower and the
Services Provider, in rendering its services hereunder and under the other Loan Documents, diligently using a degree of skill and attention no less than that which (i) would be exercised by a prudent institutional portfolio manager in
connection with the servicing and administration of assets similar to the Collateral Loans under similar circumstances and (ii) the Services Provider exercises with respect to comparable assets that it manages for itself and for others having
similar investment objectives and restrictions in accordance with its existing practices and procedures relating to assets of the nature and character of the Collateral Loans. 

“SOFR” means, with respect to any Business
Day, a rate per annum equal to the secured overnight financing rate for such Business Day publishedas administered by the SOFR Administrator on the SOFR
Administrator’s Website at approximately 8:00 a.m. (New York City
time) on the immediately succeeding Business Day.. 

“SOFR Administrator” means the Federal Reserve Bank of
New YorkNYFRB (or a successor administrator of the secured overnight financing rate). 

“SOFR Administrator’s Website” means the website of the Federal Reserve Bank of New YorkSOFR
Administrator, currently at http://www.newyorkfed.orghttp://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR
Administrator from time to time. 

“SOFR Rate
Day” has
 the meaning specified in the definition of
“Daily
 Simple
SOFR”.
 
 “Solvency II” means European Union Directive 2009/138/EC on the taking up and pursuit
of the business of Insurance and Reinsurance (Solvency II). 

  
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 “Solvency II Level 2 Regulation”
means Delegated Regulation (EU) No 2015/35 of 10 October 2014 supplementing Solvency II. 
 “S&P” means
S&P Global Ratings, a division of S&P Global Inc., and any successor thereto. 
 “S&P CDO Monitor” means the
dynamic, analytical computer model developed by S&P used to calculate the default frequency in terms of the amount of debt assumed to default as a percentage of the original principal amount of the Collateral Loans consistent with a specified
benchmark rating level based upon certain assumptions (including the Weighted Average S&P Recovery Rate) and S&P’s proprietary corporate default studies, as may be amended by S&P from time to time upon notice to the Borrower, the
Administrative Agent and the Collateral Administrator. Inputs for the S&P CDO Monitor will be chosen by the Services Provider (with notice to the Collateral Administrator) and associated with either (x) a recovery rate for the Loans from
the S&P Recovery Rate Matrix, a “Weighted Average Life Value” from the S&P Weighted Average Life Matrix and a “Weighted Average Floating Spread” from the S&P Weighted Average Floating Spread Matrix or (y) a
weighted average recovery rate for the Loans, a weighted average life and a weighted average floating spread selected by the Services Provider (with notice to the Collateral Administrator) and confirmed by S&P; provided that the Services
Provider shall not be permitted to select a spread higher than the Weighted Average Spread, a recovery rate higher than the Weighted Average S&P Recovery Rate or a weighted average life shorter than the Weighted Average Life. The weighted
average recovery rate applicable as of any date of determination pursuant to clause (x) or (y) above is referred to as the “S&P CDO Monitor Recovery Rate”. The weighted average floating spread applicable as of any date
of determination pursuant to clause (x) or (y) above is referred to as the “S&P Minimum Floating Spread”. 

“S&P CDO Monitor Formula Election Date” means date designated by the Services Provider upon at least five Business
Days’ prior written notice to S&P, the Administrative Agent and the Collateral Administrator as the date on which the Borrower will begin to utilize the S&P CDO Monitor Adjusted BDR; provided that an S&P CDO Monitor Formula
Election Date may not occur if the pool of Collateral contains Collateral Loans of less than 40 different Obligors. 
 “S&P CDO
Monitor Formula Election Period” means the period from and including the S&P CDO Monitor Formula Election Date (if any) to but excluding the earlier of (i) the S&P CDO Monitor Model Election Date (if any) and (ii) the date
on which the Obligations have been paid in full; provided that, on any date in which the S&P CDO Monitor Test is calculated, the pool of Collateral contains Collateral Loans of less than 40 different Obligors, the S&P CDO Monitor
Formula Election Period shall be terminated and a S&P CDO Monitor Model Election Date shall occur. 
 “S&P CDO Monitor Model
Election Date” means the date designated by the Services Provider upon at least five Business Days’ prior written notice to S&P, the Administrative Agent and the Collateral Administrator as the date on which the Borrower will begin
to utilize the S&P CDO Monitor. 

  
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 “S&P CDO Monitor Model Election Period” means (a) the period from
and including the Closing Date to but excluding the earlier of (i) the S&P CDO Monitor Formula Election Date (if any) and (ii) the date on which the Obligations have been paid in full and (b) if an S&P CDO Monitor Model
Election Date occurs after the Closing Date, the period from and including the S&P CDO Monitor Model Election Date (if any) to the date on which the Obligations have been paid in full. 

“S&P CDO Monitor Recovery Rate” has the meaning set forth in the definition of “S&P CDO Monitor”. 

“S&P CDO Monitor Test” means a test that shall be satisfied if on any Measurement Date and during the Reinvestment Period
after giving effect to the purchase of a Collateral Loan, (a) during an S&P CDO Monitor Model Election Period, following receipt by the Borrower and the Collateral Administrator of the S&P CDO Monitor input files, the Default
Differential of the Proposed Portfolio with respect to the Loans is positive or (b) during an S&P CDO Monitor Formula Election Period (if any), the S&P CDO Monitor Adjusted BDR is equal to or greater than the S&P CDO Monitor SDR.
During an S&P CDO Monitor Formula Election Date, the definitions in Schedule G hereto will apply. The S&P CDO Monitor Test shall be considered to be improved (x) during an S&P CDO Monitor Model Election Period, if the Default
Differential of the Proposed Portfolio is greater than or equal to the corresponding Default Differential of the Current Portfolio or (y) during an S&P CDO Monitor Formula Election Period (if any), when the S&P CDO Monitor Adjusted BDR
less the S&P CDO Monitor SDR of the Proposed Portfolio is greater than the difference between the S&P CDO Monitor Adjusted BDR less the S&P CDO Monitor SDR of the Current Portfolio. 

“S&P Counterparty Criteria” means with respect to any Participation Interest, a criterion that will be met if immediately
after giving effect to such acquisition, the percentage of the Aggregate Principal Balance of the Collateral Loans that consists in the aggregate of Participation Interests with Selling Institutions with the relevant agent bank that have the same or
a lower credit rating, does not exceed the “Aggregate Percentage Limit” (in the case of all Selling Institutions) or “Individual Percentage Limit” (in the case of a Selling Institution) set forth below for such credit rating 

 

									
	 S&P credit rating of

Selling Institution

(at or below)
	  	Aggregate
Percentage Limit	 	 	Individual Percentage
Limit	 
	 AAA
	  	 	20	% 	 	 	20	% 
	 AA+
	  	 	10	% 	 	 	10	% 
	 AA
	  	 	10	% 	 	 	10	% 
	 AA-
	  	 	5	% 	 	 	5	% 
	 A+
	  	 	5	% 	 	 	5	% 
	 A**
	  	 	5	% 	 	 	5	% 
	 A*** and A-and below
	  	 	0	% 	 	 	0	% 

  
  

	**	 Only for so long as the Selling Institution or agent, as applicable, has an S&P long-term unsecured debt rating of at least A and a short-term unsecured debt rating of at least A-1. If such Selling Institution or
agent, as applicable, does not have an S&P short-term unsecured debt rating or has an S&P short-term unsecured debt rating of less than A-1, then the minimum S&P rating for purposes of the Counterparty Criteria will be A+. 

	***	 If the Selling Institution or agent, as applicable, does not have a
short-term unsecured debt rating by S&P of at least A-1. 

  
 -63- 

 “S&P Industry Classification” means each industry identified on
Schedule B. 
 “S&P Minimum Floating Spread” has the meaning set forth in the definition of
“S&P CDO Monitor”. 
 “S&P Rating” means with respect to any Collateral Loan, as of any date of
determination, the rating determined in accordance with the following methodology: 
 (a) with respect to a Collateral Loan
that is not a DIP Loan, (i) if there is an issuer credit rating of the issuer of such Collateral Loan by S&P as published by S&P, or the guarantor which unconditionally and irrevocably guarantees such Collateral Loan pursuant to a form
of pursuant to a form of guaranty meeting applicable then-current S&P guarantee criteria, then the S&P Rating will be such rating (regardless of whether there is a published rating by S&P on the
Collateral Loans of such issuer held by the Issuer) or (ii) if there is no issuer credit rating of the issuer by S&P but (A) if there is a senior unsecured rating on any obligation or security of the issuer, the S&P Rating of such
Collateral Loan will equal such rating; (B) if there is a senior secured rating on any obligation or security of the issuer, then the S&P Rating of such Collateral Loan will be one subcategory below such rating; and (C) if there is a
subordinated rating on any obligation or security of the issuer, then the S&P Rating of such Collateral Loan will be one subcategory above such rating; 

(b) with respect to any Collateral Loan that is a DIP Loan, the S&P Rating thereof will be the credit rating assigned to
such issue by S&P, or if such DIP Loan was assigned a point-in-time rating by S&P that was withdrawn, such withdrawn rating may be used for 12 months after
the assignment of such rating; provided that if any such Collateral Loan that is a DIP Loan is newly issued and the Services Provider expects an S&P credit rating within 90 days, the S&P Rating of such Collateral Loan shall be “CCC-” until such credit rating is obtained from S&P; provided, further, that, if there is a Material Change with respect to any DIP Loan, the Borrower, or the Services Provider on behalf
of the Borrower, shall, upon notice or knowledge thereof, notify S&P and provide available Required S&P Credit Estimate Information and any other available information S&P reasonably requests with respect thereto via email to
CreditEstimates@spglobal.com; or 
 (c) if the S&P Rating is not determined pursuant to clauses (a) or (b),
then the S&P Rating shall be the S&P equivalent of the public rating by Moody’s of such obligation or issuer except that the S&P Rating of such obligation will be (A) one subcategory below the S&P equivalent of the
Moody’s public rating if such Moody’s public rating is “Baa3” or higher and (B) two subcategories below the S&P equivalent of the Moody’s public rating if such Moody’s public rating is “Ba1” or lower;
or 
 (d) if the S&P Rating is not determined pursuant to clauses (a), (b) or (c), the S&P Rating may be
based on a credit estimate provided by S&P, and in connection therewith, the Borrower, the Services Provider on behalf of the Borrower or the issuer of such Collateral Loan shall, prior to or within 30 days after the acquisition of such
Collateral 

  
 -64- 

 
Loan, apply (and concurrently submit all available Required S&P Credit Estimate Information in respect of such application) to S&P for a credit estimate which will be its S&P Rating;
provided that, until the receipt from S&P of such estimate, such Collateral Loan will have an S&P Rating as determined by the Services Provider in its sole discretion if the Services Provider certifies to the Administrative Agent that
it believes that such S&P Rating determined by the Services Provider is commercially reasonable and will be at least equal to such rating; provided, further, that if such Required S&P Credit Estimate Information is not
submitted within such 30-day period, then, pending receipt from S&P of such estimate, the Collateral Loan will have (1) the S&P Rating as determined by the Services Provider for a period of up to
90 days after acquisition of such Collateral Loan and (2) an S&P Rating of “CCC-” following such 90 day period; unless, during such 90 day period, the Services Provider has
requested the extension of such period and S&P, in its sole discretion, has granted such request; provided, further, that such confirmed or updated credit estimate will expire on the 12-month
anniversary of such confirmation or update, unless confirmed or updated prior thereto; provided, further, that, if there is a Material Change with respect to any Collateral Loan with an S&P Rating of
“CCC-” determined pursuant to this clause, the Borrower, or the Services Provider on behalf of the Borrower, shall, upon notice or knowledge thereof, notify S&P and provide available Required
S&P Credit Estimate Information and any other available information S&P reasonably requests with respect thereto via email to CreditEstimates@spglobal.com; 

(e) if the S&P Rating is not determined pursuant to clauses (a), (b), (c) or (d) with respect to a DIP Loan, the
S&P Rating of such Collateral Loan will be “CCC-” and 
 (f) if the
S&P Rating is not determined pursuant to clauses (a), (b), (c), (d) or (e) with respect to a Collateral Loan that is not a Defaulted Loan, the S&P Rating of such Collateral Loan will at the election of the Borrower (at the
direction of the Services Provider) be “CCC-” provided that (i) the Services Provider expects the Obligor in respect of such Collateral Loan to continue to meet its payment obligations
under such Collateral Loan, (ii) such Obligor is not currently in reorganization or bankruptcy, (iii) such Obligor has not defaulted on any of its debts during the immediately preceding two year period and (iv) at any time that more
than 10% of the Collateral Principal Amount consists of Collateral Loans with S&P Ratings determined pursuant to this clause (f), the Borrower will submit all available Required S&P Credit Estimate Information in respect of such
Collateral Loans to S&P; 
 provided that for purposes of the determination of the S&P Rating, (x) if the applicable
rating assigned by S&P to an obligor or its obligations is on “credit watch positive” by S&P, such rating will be treated as being one subcategory above such assigned rating and (y) if the applicable rating assigned by S&P
to an obligor or its obligations is on “credit watch negative” by S&P, such rating will be treated as being one subcategory below such assigned rating. 

“S&P Recovery Amount” means with respect to any Collateral Loan, an amount equal to the product of: 

(a) the S&P Recovery Rate; and 

  
 -65- 

 (b) the Principal Balance of such Collateral Loan. 

“S&P Recovery Rate” means with respect to a Collateral Loan, the recovery rate determined in the manner set forth in
Schedule D hereto. 
 “S&P Recovery Rate Matrix” means the S&P Recovery Rate Matrix set
forth on Schedule E. 
 “S&P Weighted Average Floating Spread Matrix” means a spread between
1.50% and 7.00% (in increments of .01%) without exceeding the current Weighted Average Spread (determined as if all Discount Loans instead constituted Collateral Loans that are not Discount Loans) as of such Measurement Date. 

“S&P Weighted Average Life Matrix” means the S&P Weighted Average Life Matrix set forth on
Schedule F. 
 “Specified Change” means any amendment, consent, modification or waiver of, or
supplement to, a Related Contract that (a) extends the final maturity of a Collateral Loan beyond the Stated Maturity, (b) reduces or forgives the principal amount of a Collateral Loan (other than a Defaulted Loan that has been a Defaulted
Loan for one year or more), (c) reduces the rate of interest payable on a Collateral Loan by more than 25% (other than a Defaulted Loan that has been a Defaulted Loan for one year or more), (d) postpones the Due Date of any Scheduled
Distribution in respect of a Collateral Loan by more than three months, (e) subordinates (in right of payment, with respect to liquidation preferences or otherwise) a Collateral Loan, (f) releases any material guarantor or co-obligor of a Collateral Loan from its obligations, (g) releases a material portion of the collateral securing such Collateral Loan (excluding Defaulted Loans and any such releases associated with a
prepayment) or (h) changes any of the provisions of a Related Contract specifying the number or percentage of lenders required to effect any of the foregoing. 

“Stated Maturity” means AprilOctober 1, 2030. 

“Step-Down Loan” means an obligation or security which by the terms of the
applicable Related Contracts provides for a decrease in the per annum interest rate on such obligation or security (other than by reason of any change in the applicable index or benchmark rate used to determine such interest rate) or in the spread
over the applicable index or benchmark rate, solely as a function of the passage of time; provided that an obligation or security providing for payment of a constant rate of interest or in the spread over the applicable index or benchmark
rate at all times after the date of acquisition by the Borrower shall not constitute a Step-Down Loan. 

“Step-Up Loan” means an obligation or security which by the terms of the
applicable Related Contracts provides for an increase in the per annum interest rate on such obligation or security, or in the spread over the applicable index or benchmark rate, solely as a function of the passage of time; provided that an
obligation or security providing for payment of a constant rate of interest or in the spread over the applicable index or benchmark rate at all times after the date of acquisition by the Borrower shall not constitute a
Step-Up Loan. 

  
 -66- 

 “Structured Finance Obligation” means any obligation issued by a special
purpose entity secured directly by, referenced to, or representing ownership of, a pool of receivables or other financial assets of any Obligor (excluding any loan made to an operating business that buys, sells and/or liquidates such assets in the
ordinary course of business), including (but not limited to) collateralized debt obligations, collateralized loan obligations, asset backed securities and mortgage backed securities or any re-securitization
thereof. 
 “Subordinated Services Fee” has the meaning assigned to such term in the Corporate Services Agreement. 

“Subsidiary” means any corporation, limited partnership, limited liability company or other entity of which securities or
other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by the Borrower. 

“Substituted Collateral Loan” means, with respect to any Due Period, any Warranty Collateral Loan with respect to which the
Seller has substituted in a replacement Collateral Loan pursuant to Section 10.1(d) and the Sale and Contribution Agreement. 

“Supported QFC” has the meaning set forth in Section 15.1. 

“Synthetic Security” means a security or swap transaction, other than a Participation Interest, that has payments associated
with either payments of interest on and/or principal of a reference obligation or the credit performance of a reference obligation. 

“Tax Account Reporting Rules” means FATCA, and any other laws, intergovernmental agreements, administrative guidance or
official interpretations, adopted or entered into on, before or after the date of this Agreement, by one or more governments providing for the collection of financial account information and the automatic exchange of such information between or
among governments for purposes of improving tax compliance, and any laws, intergovernmental agreements or other guidance adopted pursuant to the global standard for automatic exchange of financial account information issued by the Organisation for
Economic Co-operation and Development. 
 “Tax Account Reporting Rules Compliance”
means compliance with Tax Account Reporting Rules as necessary to avoid (a) fines, penalties or other sanctions imposed on the Borrower or any of its directors or (b) the withholding or imposition of tax from or in respect of payments to
or for the benefit of the Borrower. 
 “Taxes” means any and all present or future taxes, duties, levies, imposts,
deductions, charges or withholdings imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term Commitment” means, with respect to each Term Lender, the commitment of such Term Lender to make Term Loans to the
Borrower on the Initial Borrowing Date in the amount set forth opposite such Term Lender’s name on the signature pages hereto (or pursuant to an Assignment and Assumption), as such amount may be terminated or reduced (including pursuant to
Section 2.7) from time to time in accordance with the terms of this Agreement. 

  
 -67- 

 “Term Lender” means each Person that is listed as a “Term Lender”
on the signature pages hereto, any Person that shall have become a party hereto pursuant to an Assignment and Assumption in respect of a Term Loan, any Person that shall have converted all or a portion of its Revolving Loans into Term Loans pursuant
to Section 2.7(b) of this Agreement and, in each case, their respective successors, in each case other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption in respect of its Term
Loans; provided that all Revolving Lenders shall be Approved Lenders. 
 “Term Loan” has the meaning assigned to
such term in Section 2.1. 

“Term
SOFR” means,
 with respect to any Term SOFR Loan and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m. (Chicago time) two U.S. Government Securities Business Days prior to the commencement of such
Interest Period (such day, a
“Term
 SOFR Determination
Day”),
 as such rate is published by the CME Term SOFR Administrator. If by 5:00 p.m. (New York City time) on such Term SOFR Determination Day,
“Term
 SOFR” for
 the applicable tenor has not been published by the CME Term SOFR Administrator and Term SOFR does not otherwise cease to exist, then the Term SOFR for such Term SOFR Determination Day will be the Term SOFR as published in respect of the first
preceding U.S. Government Securities Business Day for which such Term SOFR was published by the CME Term SOFR Administrator, so long as such first preceding Business Day is not more than five Business Days prior to such Term SOFR Determination
Day. 

“Term SOFR
Borrowing” means,
 as to any Borrowing, the Term SOFR Loans comprising such Borrowing. 
 “Term SOFR
Determination
Day” has
 the meaning specified in the definition of
“Term
 SOFR”.
 

“Term SOFR
Loan” means
 a Loan that bears interest at a rate based on Term SOFR. 
 “Term SOFR Reference Rate” means, for any applicable
Corresponding Tenor as ofday and any time, with respect to any Term SOFR Loan and for any tenor comparable
to the applicable Reference
Time,Interest Period, the rate per annum determined by the Administrative Agent as the
forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body. 

“Third Amendment Effective Date” means May
2526, 2021. 

“Total Capitalization” means, at any time, the sum of (a) the Aggregate Principal Balance of the Collateral Loans
(excluding any Defaulted Loans), plus (b) the Recovery Value of the Defaulted Loans, plus (c) the aggregate amount of the Undrawn Commitments, plus (d) the amount of all cash and Eligible Investments in the
Collection Account and in the Future Funding Reserve Account, in each case constituting Principal Proceeds. 

  
 -68- 

 “Total Revolving Commitment” means, as of any date of determination with
respect to any Revolving Lender, the applicable aggregate amount of Revolving Commitments set forth opposite such Revolving Lender’s name on Annex A. 

“Total Term Commitment” means, as of any date of determination with respect to any Term Lender, the applicable aggregate
amount of Term Commitments set forth opposite such Term Lender’s name on Annex A. 
 “U.S.
Government Securities Business
Day” means
 any day except for (i) a Saturday,
(ii) a Sunday or
(iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income
departments of its members be closed for the entire day for purposes of trading in United States government securities. 

“U.S. Person” means any Person that is a “United States person” as defined in
Section 7701(a)(30) of the Code. 
 “U.S. Special Resolution Regimes” has the meaning set forth in
Section 15.1. 
 “U.S. Tax Compliance Certificate” has the meaning assigned to
such term in Section 11.4. 
 “UK Bail-In Legislation”
means (to the extent that the United Kingdom is not an EEA Member Country which has implemented, or implements, Article 55 BRRD) Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, reglulation or rule
applicable in the United Kingdom relating to the resolutions of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). 

“UK Financial Institution” means any BRRD Undertakings (as such term is defined under the PRA Rulebook (as amended from time
to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes
certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York, except as otherwise
specified in this Agreement. 
 “Unadjusted Benchmark
Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. 

“Undrawn Commitment” means, with respect to any Revolving Lender at any time, an amount (which may not be less than zero)
equal to (i) such Lender’s Revolving Commitment at such time minus (ii) the aggregate outstanding principal amount of Revolving Loans held by such Revolving Lender at such time. 

“Unfunded Amount” means, at any time, the sum of (i) the aggregate Exposure Amount at such time plus
(ii) the aggregate Unsettled Amount at such time. 

  
 -69- 

 “United States” means the United States of America, including the states
and the District of Columbia, but excluding its territories and possessions. 
 “Unsettled Amount” means, as of any date,
all amounts due in respect of any Collateral Loans that the Borrower has entered into a binding commitment to acquire but has not yet settled. 

“Warranty Collateral Loan” has the meaning set forth in Section 10.1(d). 

“Weighted Average Coupon” means, with respect to Fixed Rate Obligations (excluding Defaulted Loans), as of any date, the
number obtained by: 
 (x) summing (i) the sum of the products obtained by multiplying the required cash-pay portion of the interest coupon of each such Fixed Rate Obligation (plus any other fees (such as anniversary fees, commitment fees, etc.) that are contractually required to be paid) as of such date by
the Principal Balance of each such Collateral Loan as of such date and (ii) the sum of the products obtained by multiplying, with respect to each such Collateral Loan that is a Revolving Collateral Loan or a Delayed Funding Loan, the related
commitment or undrawn fee as of such date by the Exposure Amount of each such Collateral Loan as of such date, and 
 (y)
dividing such sum by the Aggregate Principal Balance plus the Exposure Amount of all such Collateral Loans, and rounding the result up to the nearest 0.001%; provided that if the foregoing amount is less than 7.0%, then all or a
portion of the Weighted Average Coupon Adjustment, if any, as of such date, to the extent not exceeding such shortfall, shall be added to such result. 

“Weighted Average Coupon Adjustment” means, as of any date, a fraction (expressed as a percentage), the numerator of which is
equal to the product of (i) the excess, if any, of the Weighted Average Spread for such date over the S&P Minimum Floating Spread and (ii) the Aggregate Principal Balance plus the Exposure Amount of all Floating Rate Obligations
(excluding Defaulted Loans), and the denominator of which is the Aggregate Principal Balance plus Exposure Amount of all Fixed Rate Obligations (excluding Defaulted Loans). In computing the Weighted Average Coupon Adjustment on any date, the
Weighted Average Spread for such Measurement Date shall be computed as if the Weighted Average Spread Adjustment was equal to zero. 

“Weighted Average Life” means, as of any Measurement Date, the number obtained by (a) for each Collateral Loan (other
than a Defaulted Loan), multiplying the amount of each Scheduled Distribution of principal (treating each Revolving Collateral Loan and Delayed Funding Loan as if the same were fully funded) to be paid after such Measurement Date by the number of
years (rounded to the nearest hundredth) from such Measurement Date until such Scheduled Distribution of principal is due; (b) summing all of the products calculated pursuant to clause (a); and (c) dividing the sum calculated pursuant
to clause (b) by the sum of all Scheduled Distributions (treating each Revolving Collateral Loan and Delayed Funding Loan as if the same were fully funded) of principal due on all the Collateral Loans (other than Defaulted Loans) as of such
Measurement Date 

  
 -70- 

 “Weighted Average S&P Recovery Rate” means, as of any date of
determination, the number, expressed as a percentage, obtained by summing the products obtained by (a) multiplying the outstanding Maximum Principal Balance of each Collateral Loan by its corresponding recovery rate as determined separately for
each Collateral Loan in accordance with Section 1 of Schedule D hereto, (b) dividing such sum by the Aggregate Maximum Principal Balance of all of the Collateral Loans, and (c) rounding
to the nearest tenth of a percent. 
 “Weighted Average
Spread””
means, with respect to Floating Rate Obligations (in each case excluding Defaulted Loans), as of any date, the number obtained by: 

(x) (x) summing
(i) the sum of the products obtained by multiplying the excess of the
cash-paywith respect to all Floating Rate Obligations that bear interest at a spread over an index rate, the
amount with respect to each such Floating Rate Obligation (expressed as a per annum interest rate, which may be negative) of the cash pay portion of the interest rate payable on such Collateral LoanFloating Rate
Obligation (plus for any Collateral Loan, any other fees
(such as anniversary fees, commitment fees, etc.), that are contractually required to be paid) (such rate
stated as a per annum rate) over LIBOR as then in effect (which spread or excess may be expressed as a negative
percentage)over Term SOFR multiplied by the Principal Balance of each Collateral Loansuch Floating Rate
Obligation as of such date and (ii) the sum of the products obtained by multiplying, with respect to each such Collateral Loan that is a Revolving Collateral Loan or a Delayed Funding Loan, the related commitment or undrawn fee
as of such date by the Exposure Amount of each such Collateral Loan as of such date; and 
 (y)
(y) dividing such sum by the Aggregate Principal
Balance plus the Exposure Amount of all such Collateral Loans, and rounding the result up to the nearest 0.001%; provided that, if the foregoing amount is less than the S&P Minimum Floating Spread, then all or a portion of the Weighted Average
Spread Adjustment, if any, as of such date, to the extent not exceeding such shortfall, shall be added to such result. 

“Weighted Average Spread Adjustment” means, as of any date, a fraction (expressed as a percentage), the numerator of which is
equal to the product of (i) the excess, if any, of the Weighted Average Coupon for such date over 7.0% and (ii) the Aggregate Principal Balance plus the Exposure Amount of all Fixed Rate Obligations (in each case excluding Defaulted
Loans), and the denominator of which is the Aggregate Principal Balance plus the Exposure Amount of all Floating Rate Obligations as of such date (in each case excluding Defaulted Loans). In computing the Weighted Average Spread Adjustment on
any Measurement Date, the Weighted Average Coupon for such date shall be computed as if the Weighted Average Coupon Adjustment was equal to zero. 

“Write-Down and Conversion Powers” means: 

(a) with respect to any Bail-In Legislation described in the EU
Bail-In Legislation Schedule, the powers described as such in relation to that Bail-In Legislation in the EU Bail-In Legislation
Schedule; and 

  
 -71- 

 (b) with respect to the United Kingdom, any powers under the UK Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that
liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that
liability or any of the powers under that UK Bail-In Legislation that are related to or ancillary to any of those powers. 

“Zero Coupon Loan” means a Collateral Loan that at the time of acquisition does not by its terms provide for periodic
payments of interest in Cash. 
 Section 1.2 Accounting Terms and Determinations and UCC Terms. 

(a) Unless otherwise specified herein, all accounting terms used herein shall be interpreted and all accounting determinations hereunder shall
be made in accordance with GAAP as in effect from time to time. 
 (b) Unless otherwise specified herein and unless the context requires a
different meaning, all terms used herein that are defined in Articles 8 and 9 of the UCC are used herein as so defined. 

Section 1.3 Assumptions and Calculations with respect to Collateral Loans. In connection with all calculations required to be made
pursuant to this Agreement with respect to Scheduled Distributions on any Collateral Loans, or any payments on any other assets included in the Collateral, with respect to the sale of and reinvestment in Collateral Loans, and with respect to the
income that can be earned on Scheduled Distributions on such Collateral Loans and on any other amounts that may be received for deposit in the Collection Account, the provisions set forth in this Section 1.3 shall be
applied. The provisions of this Section 1.3 shall be applicable to any determination or calculation that is covered by this Section 1.3, whether or not reference is specifically made to
Section 1.3, unless some other method of calculation or determination is expressly specified in the particular provision. 

(a) Scheduled interest due on Collateral Loans on which payments are subject to foreign withholding taxes, will be the minimum net amount to
be received after giving effect to the maximum permitted withholding and to any “gross-up” payments required to be made by the related Obligor pursuant to such loan’s Related Contracts. 

(b) Notwithstanding any other provision of this Agreement to the contrary, all monetary calculations under this Agreement shall be in Dollars.

 (c) The determination of the percentage of Total Capitalization that would be represented by a specified type of Collateral Loans will be
calculated by dividing the Aggregate Maximum Principal Balance of such specified type of Collateral Loans by Total Capitalization. For purposes of this Section 1.3(c), a “type” of Collateral Loan shall correspond
to each clause of the definition of “Concentration Limitations” and to each reference to Current Pay Obligations in the respective provisos to the definitions of Current Pay Obligation and Defaulted Loan. 

  
 -72- 

 (d) Any portion of a Collateral Loan or other loan or security owned of record by the
Borrower that has been assigned by the Borrower to a third party and released from the Lien of this Agreement in accordance with the terms hereof shall no longer constitute Collateral or a Collateral Loan hereunder. 

(e) For purposes of calculating the Coverage Tests, except as otherwise specified in the Coverage Tests, such calculations will not include
scheduled interest and principal payments on Defaulted Loans unless or until such payments are actually made. 
 (f) For each Due Period and
as of any date of determination, the Scheduled Distribution on any Collateral Loans (other than Defaulted Loans, which, except as otherwise provided herein, shall be assumed to have a Scheduled Distribution of zero) shall be the sum of (i) the
total amount of payments and collections to be received during such Due Period in respect of such Collateral Loans (including the proceeds of the sale of such Collateral Loans received and, in the case of sales which have not yet settled, to be
received during such Due Period) and not reinvested in additional Collateral Loans or retained in the Collection Account for subsequent reinvestment pursuant to Section 8.2 that, if received as scheduled, will be available
in the Collection Account at the end of such Due Period and (ii) any such amounts received in prior Due Periods that were not disbursed on a previous Quarterly Payment Date or retained in the Collection Account for subsequent reinvestment
pursuant to Section 8.2. 
 (g) Each Scheduled Distribution receivable with respect to a Collateral Loan shall be
assumed to be received on the applicable Due Date, and each such Scheduled Distribution shall be assumed to be immediately deposited in the Collection Account to earn interest at the Assumed Investment Rate. All such funds shall be assumed to
continue to earn interest until the date on which they are required to be available in the Collection Account for application, in accordance with the terms hereof, to payments of principal of or interest on the Loans or other amounts payable
pursuant to this Agreement. 
 (h) References in the Priority of Payments to calculations made on a “pro forma basis” shall mean
such calculations after giving effect to all payments, in accordance with the Priority of Payments, that precede (in priority of payment) or include the clause in which such calculation is made. 

(i) For purposes of calculating all Concentration Limitations, in the numerator of any component of the Concentration Limitations, Defaulted
Loans will be treated as having a Maximum Principal Balance equal to zero. 
 (j) Except as otherwise provided herein, Defaulted Loans will
not be included in the calculation of the Collateral Quality Test. 
 (k) For purposes of calculating the Coverage Tests, the Collateral
Quality Test and the Concentration Limitations, capitalized or deferred interest (and any other interest that is not paid in cash) on Collateral Loans will be excluded other than any capitalized or deferred interest that is acquired using Principal
Proceeds or the proceeds of any Borrowing. 

  
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 (l) References in this Agreement to the Borrower’s “purchase” or
“acquisition” of a Collateral Loan include references to the Borrower’s receipt by contribution from the Seller of such Collateral Loan. Portions of the same Collateral Loan acquired by the Borrower on different dates (whether through
purchase or receipt by contribution thereof, but excluding subsequent draws under Revolving Collateral Loans or Delayed Funding Loans) will, for purposes of determining the purchase price of such Collateral Loan, be treated as separate purchases on
separate dates (and not a weighted average purchase price for any particular Collateral Loan). 
 (m) For purposes of calculating the
Weighted Average Spread or Weighted Average Coupon, (i) a Collateral Loan that is a Step-Down Loan will be treated as having the lowest per annum interest rate or spread over the applicable index or
benchmark rate over the remaining maturity of such Collateral Loan and (ii) a Collateral Loan that is a Step-Up Loan will be treated as having the then current per annum interest rate or spread over the
applicable index or benchmark rate. 
 (n) For purposes of calculating compliance with any tests under this Agreement (including without
limitation the Coverage Tests, the Collateral Quality Test, Senior Advance Rate Test and the Concentration Limitations), the trade date (and not the settlement date) with respect to any acquisition or disposition of a Collateral Loan or Eligible
Investment shall be used to determine whether and when such acquisition or disposition has occurred. 
 (o) For purposes of calculating the
Principal Collateralization Amount and the Investment Criteria Adjusted Balance, Discount Loans shall be allocated so as to result in the lowest possible calculation of the Principal Collateralization Amount and the Investment Criteria Adjusted
Balance. 
 (p) For the avoidance of doubt, neither a failure to satisfy the Eligibility Criteria upon the acquisition of a debt obligation
nor a breach of Section 5.12 shall occur solely as a result of any property of an Obligor being subject to a Lien imposed by law, such as materialmen’s, warehousemen’s, mechanics’, carriers’,
workmen’s and repairmen’s Liens and other similar Liens, arising by operation of law in the ordinary course of business for sums that are not overdue or are being contested in good faith. 

(q) Any use of “material” or “materially” or words of similar meaning in this Agreement shall mean material to the ability
of the Borrower or the Services Provider to perform its obligations under the Loan Documents or to the rights and remedies of the Secured Parties under the Loan Documents. 

(r) For purposes of this Agreement, an Event of Default shall be deemed to be continuing until it is waived in accordance with
Section 12.5. In the event that the Borrower or the Services Provider notifies the Administrative Agent that the occurrence which caused any Event of Default has been cured, the Administrative Agent shall notify the
Lenders, and the Administrative Agent and the Lenders will consider, investigate and determine the sufficiency of such cure and notify the Borrower and the Services Provider within a reasonably prompt period of time as to whether such Event of
Default will be waived by the Administrative Agent and the Majority Lenders in accordance with Section 12.5. 

  
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 (s) For purposes of this Agreement, any Lender may, by notice to the Administrative Agent,
divide its Loans, Revolving Loans and/or Undrawn Commitments into separate amounts to reflect participations or other arrangements and, solely for purposes of counting towards any decision or vote by such Lender, require those separate amounts to be
counted separately in that decision or vote. 
 Section 1.4 Cross-References;
References to Agreements. “Herein”, “hereof” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision. Unless otherwise specified, references in this
Agreement to any Article, Section, Schedule or Exhibit are references to such Article or Section of, or Schedule or Exhibit to, this Agreement, and references in any Article, Section, Schedule or definition to any subsection or clause are references
to such subsection or clause of such Article, Section, Schedule or definition. Unless otherwise specified, all references herein to any agreement or instrument shall be interpreted as references to such agreement or instrument as it may be amended,
supplemented or restated from time to time in accordance with its terms and the terms of this Agreement and the other Loan Documents. The words “include”, “includes” and “including” shall be deemed to be followed by the
phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. 

Section 1.5 Reference to Secured Parties. 

(a) In each case herein where any payment or distribution is to be made or notice is to be given to the “Secured Parties”,
(i) such payments and distributions in respect of the Lenders shall be made to the Collateral Agent and (ii) such notices in respect of the Lenders shall be made to the Administrative Agent. 

(b) Any reference herein to notice or other delivery to be provided to S&P shall no longer be applicable if S&P is no longer rating
any Loans (whether or not so specified herein). 
 ARTICLE II 

THE LOANS 

Section 2.1 The Commitments. On the terms and subject to the applicable conditions hereinafter set forth, including, without
limitation, Article III: 
 (a) each Revolving Lender severally agrees to make loans to the Borrower (each, a
“Revolving Loan”) from time to time on any Business Day during the period from the Closing Date through the end of the Commitment Period, in each case in an aggregate principal amount at any one time outstanding up to but not
exceeding (i) such Lender’s Revolving Commitment and (ii) as to all Lenders, the Total Revolving Commitment at such time; and 

(b) each Term Lender severally agrees to make loans to the Borrower (each, a “Term Loan”) on the Initial Borrowing Date in an
aggregate principal amount at any one time outstanding up to but not exceeding (i) such Term Lender’s Term Commitment and (ii) as to all Term Lenders, the Total Term Commitment at such time. 

  
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 Within such limits and subject to the other terms and conditions of this Agreement, the
Borrower may borrow (and re-borrow) Revolving Loans under this Section 2.1 and prepay Revolving Loans under Section 2.7. Term Loans, once repaid, may not be
reborrowed. 
 Each Revolving Lender severally agrees, on the last day of the Reinvestment Period (except if the Reinvestment Period
terminates as a result of clause (b) or (d) of the definition thereof) to make a Revolving Loan (and the Borrower hereby directs that such Revolving Loan be made) in an amount equal to its Percentage Share of the Unfunded Amount (less the
amount on deposit in the Future Funding Reserve Account) as of the date such Revolving Loan is made (such Revolving Loan, the “Future Funding Reserve Loan”), but only to the extent that its Percentage Share does not exceed its
Undrawn Commitment. The Borrower shall deposit the proceeds of such Loans in the Future Funding Reserve Account such that the amounts on deposit in the Future Funding Reserve Account equal the Unfunded Amount. 

Section 2.2 Making of the Loans. 

(a) If the Borrower desires to request a Borrowing it shall give the Agents a written notice in substantially the form set forth on
Exhibit B hereto (each, a “Notice of Borrowing”), which Notice of Borrowing shall promptly be sent by the Administrative Agent to each Revolving Lender not later than (i) in
 the case of a Term SOFR Borrowing, 11:00 a.m., New York City time, at least three (3) Business Day prior
to the day of the requested Borrowing, (ii) an ABR Borrowing, 2:00 p.m.
(New York City time) at least three (3) Business Days prior to the day of the requested Borrowing. 
 (b) Each Notice of Borrowing
shall be dated the date the request for the related Borrowing is being made, signed by an Authorized Officer of the Borrower and otherwise be appropriately completed. The proposed Borrowing Date specified in each Notice of Borrowing shall be
(i) in the case of the Term Loans, the Initial Borrowing Date and (ii) in the case of the Revolving Loans, a Business Day falling during the Commitment Period. 

(c) The amount of the Borrowing requested in each Notice of Borrowing (the “Requested Amount”) shall be equal to (i) in
the case of a Borrowing of Revolving Loans, at least $250,000 and integral multiples of $1,000 in excess thereof (or, if less, the aggregate Undrawn Commitments) and (ii) in the case of a Borrowing of Term Loans, the Total Term Commitment. 

(d) Notices of Borrowing shall be irrevocable. 

(e) Each Lender shall, not later than 1:00 p.m. (New York City time) on each Borrowing Date in respect of the Revolving Loan to be
funded by it hereunder, make its Percentage Share of the applicable Requested Amount available to the Borrower by disbursing such funds in Dollars to an account specified by the Borrower in the Notice of Borrowing. 

(f) The failure of any Lender to fund any Loan on a Borrowing Date hereunder shall not relieve any other Lender of any obligation hereunder to
fund any Loan on such date. Notwithstanding the foregoing and any other provision to the contrary contained herein, if any Revolving Lender shall have failed to fund its Percentage Share of a previously requested Revolving Loan on the applicable
date of Borrowing and the Borrower provides a new Notice of Borrowing as a result of such failure to fund, then, in each such case, if necessary to make such Borrowing, the Borrower shall be permitted a single additional Revolving Loan without
regard to the minimum funding limit set forth herein. 

  
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 Section 2.3 Evidence of Indebtedness; Notes. 

(a) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to it
and resulting from the Loans made by such Lender to the Borrower, from time to time, including the amounts of principal and interest thereon and paid to it, from time to time hereunder. Notwithstanding any provision herein to the contrary, the
parties hereto intend that the Loans made hereunder shall constitute a “loan” and not a “security” for purposes of Section 8-102(15) of the UCC. 

(b) The Administrative Agent shall maintain, in accordance with its usual practices, accounts in which it will record (i) the amount of
each Loan made hereunder to the Borrower, (ii) the amount of any principal due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any principal sum paid by the Borrower hereunder and
each Lender’s share thereof. 
 (c) The entries maintained in the accounts maintained pursuant to clauses (a) and (b) of this
Section 2.3 shall, absent manifest error, be prima facie evidence of the existence and amounts of the Loans therein recorded; provided that the failure of the Administrative Agent or any Lender to maintain such
accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. In the event of a conflict between the entries maintained by a Lender and those maintained
by the Administrative Agent, the records of the Administrative Agent shall control. 
 (d) Any Lender may request that its Loans to the
Borrower be evidenced by a Note. In such event, the Borrower shall promptly prepare, execute and deliver to such Lender a Note (or Notes) payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns).
Thereafter, to the extent reflected in the Register, the Loans of such Lender evidenced by such Note and interest thereon shall at all times (including after any assignment pursuant to Section 12.6) be represented by one or
more Notes payable to such Lender (or registered assigns pursuant to Section 12.6), except to the extent that such Lender (or registered assignee) subsequently returns any such Note for cancellation and requests that such
Loans once again be evidenced as described in clauses (a) and (b) of this Section 2.3. At the time of any payment or prepayment in full of the Loans evidenced by any Note, such Note shall be surrendered to the
Administrative Agent promptly (but no more than five Business Days) following such payment or prepayment in full. Any such Note shall be cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any
Note. If requested by any Lender in writing, the Borrower shall obtain a CUSIP or other loan identification number requested by such Lender that is customary for the nature of the Loans made hereunder. 

Section 2.4 Maturity of Loans. Each Loan shall mature, and the principal amount thereof shall be due and payable, on the Stated
Maturity. 

  
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 Section 2.5 Interest Rates. 

(a) The Loans shall be Eurodollar Rate Loans, except as otherwise provided in this Agreement, including without limitation, in clause (i)
of the definition of “Applicable Rate” and Sections 11.1 and 11.2. 
 (b) The Loans shall
bear interest on the unpaid principal amount thereof, for each day such Loan is outstanding during each Interest Period applicable thereto, at a rate per annum equal to the Applicable Rate with respect thereto. Such interest shall be payable for
each Interest Period on the Quarterly Payment Date immediately following the end of such Interest Period and on the Stated Maturity and as otherwise set forth herein. 

(c) In the event that, and for so long as, an Event of Default shall have occurred and be continuing, the outstanding principal amount of the
Loans, and, to the extent permitted by Applicable Law, overdue interest in respect of all Loans, shall bear interest for each day at the annual rate of the sum of (i) the Applicable Rate for such Loan for such day plus (ii) two
percent (the “Post-Default Rate” for such Loan). 
 (d) The Administrative
Agent shall determine each interest rate applicable to the Loans hereunder for any Interest Period or portion thereof pursuant to this Section 2.5 and the related definitions; provided that the relevant
CP Lender, its Program Manager or its funding agent, as applicable, shall determine and announce to the Administrative Agent the Cost of Funds Rate for each Loan that is made by a CP Lender and to which the Cost of Funds Rate applies, such
determination to be conclusive absent manifest error. The Administrative Agent shall give prompt notice to the Borrower and the participating Lenders of each rate of interest so determined, and its determination thereof shall be conclusive in the
absence of manifest error. The Administrative Agent shall, at the request of the Borrower, the Collateral Agent or any Lender, deliver to the Borrower, the Collateral Agent or such Lender, as the case may be, a statement showing the quotations and
demonstrating the calculations used by the Administrative Agent or the relevant CP Lender, its Program Manager or its funding agent, as applicable, in determining any interest rate pursuant to this Section 2.5. 

(e) The Administrative Agent agrees to use its best efforts
to obtain quotations of LIBOR as contemplated by Section 2.5(d) and the definition of
“London Interbank Offered Rate”. If the Administrative Agent does not obtain a timely quotation, the provisions of Section 11.1 shall apply. 

(e)
 (f) The Administrative Agent shall provide notice to the Borrower, the Collateral Agent, the Collateral Administrator
and the Lenders of any and all LIBOR rate sets on the date that any such rate set is determined. Each CP Lender, its Program Manager or its funding agent, as applicable, shall notify the
Administrative Agent of the Cost of Funds Rate for each Loan that is made by such CP Lender and to which the Cost of Funds Rate applies on or prior to the related Calculation Date in connection with the provision of its invoice or otherwise
upon written request. The Cost of Funds Rate for each CP Lender shall be calculated, for each day during the period between the date of such notice and the last day of each Interest Period (the “Estimate Period”), on the basis
of such CP Lender’s good faith estimate of its funding costs for such Estimate Period, and the amount of interest payable to such CP Lender in respect of the 

  
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following Interest Period shall be increased by the amount, if any, by which interest at the actual Cost of Funds Rate for such CP Lender for such Estimate Period exceeds the amount
estimated or shall be decreased by the amount, if any, by which the amount of interest at the estimated Cost of Funds Rate for such Estimate Period exceeds the amount of interest accrued at the actual Cost of Funds Rate. However, on the Stated
Maturity, any such increase or decrease that would be due pursuant to the preceding sentence shall instead be settled and paid on the Stated Maturity. Each CP Lender, its Program Manager or its funding agent, as applicable, shall supply a
reconciliation of such amounts as provided in this Section 2.5(f) for each such period to the Administrative Agent and, absent manifest error, such reconciliation shall be conclusive and binding on all parties hereto. The
interest rate payable to a CP Lender shall reflect proportionately the different sources of funding used during each Interest Period by such CP Lender to finance its outstanding Loans. 

Section 2.6 Commitment Fees. 

(a) Commitment Fees Payable. The Borrower shall, subject to Section 11.5(b)(ii)(y), pay to the Revolving
Lenders pursuant to Section 6.4 or 9.1, as applicable, ratably in proportion to their respective Percentage Shares, a commitment fee (a “Commitment Fee”) accruing for each day during each Interest
Period: 
 (i) prior to the closing date of any Permitted Securitization: 

(A) from and including the Third Amendment Effective Date to but excluding the date that is six months after the Third
Amendment Effective Date, at a per annum rate equal to 0.50% of the undrawn amount of the Total Revolving Commitment as of the end of such day; and 

(B) thereafter for each remaining day in the Commitment Period, at a per annum rate equal to 0.75% of the undrawn amount of the
Total Revolving Commitment as of the end of such day; and 
 (ii) on and after the closing date of any Permitted
Securitization: 
 (A) from and including the closing date of the most recent Permitted Securitization to but excluding the
date that is six months after such closing date, at a per annum rate equal to 0.50% of the undrawn amount of the Total Revolving Commitment as of the end of such day; and 

(B) thereafter for each remaining day in the Commitment Period, at a per annum rate equal to 0.75% of the undrawn amount of the
Total Revolving Commitment as of the end of such day; 
 provided that upon the closing date of a subsequent Permitted Securitization, the foregoing
calculation in clause (a)(ii) shall be reset and such Permitted Securitization shall be deemed to be the most recent Permitted Securitization for purposes of such calculation; provided, further that if the Revolving Commitment of any
Revolving Lender is reduced as the result of a Bail-In Action, the Commitment Fee payable to such Revolving Lender shall be calculated based on its Revolving Commitment as so reduced. 

  
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 The Commitment Fees shall be payable quarterly in arrears on the Quarterly Payment Date
immediately following each Interest Period for which such fees accrue as provided in the Priority of Payments and shall be calculated by the Administrative Agent pursuant to Section 2.10. 

(b) Fees Non-Refundable. All fees set forth in this
Section 2.6 shall be deemed to have been earned on the date such payment is due in accordance with the provisions of this Agreement and shall be non-refundable. The obligation of the
Borrower to pay such fees in accordance with the provisions of this Agreement shall be binding upon the Borrower and shall inure to the benefit of the Revolving Lenders regardless of whether any Revolving Loans are actually made. 

Section 2.7 Reduction of Commitments; Conversion; Prepayments. 

(a) Reduction and Termination. 

(i) The Total Revolving Commitment (and the Revolving Commitment of each Lender) shall be automatically reduced to zero at
5:00 p.m. (New York City time) on the last day of the Commitment Period. Upon the funding of the Term Loans on the Initial Borrowing Date as set forth in Section 2.1, the amounts of the Total Term Commitment shall
be reduced to zero. 
 (ii) The Borrower shall have the right at any time to reduce (including a reduction in full that
results in a termination of the Revolving Commitments) the Total Revolving Commitment by an amount specified by the Borrower (such amount, the “Commitment Reduction Amount”) upon not less than two Business Days’ prior notice to
the Revolving Lenders, S&P and the Administrative Agent, which notice shall specify the effective date of such reduction, and on such effective date the Total Revolving Commitment shall be reduced by the Commitment Reduction Amount;
provided that the Borrower shall only have the right to terminate the Revolving Commitments if all amounts in respect of the Revolving Loans and all other Obligations with respect thereto due under this Agreement and the other Loan Documents
are satisfied in full, including without limitation all principal, interest, Commitment Fees and Administrative Expenses. Such notice of reduction (1) shall be effective only upon receipt by the Administrative Agent, (2) shall permanently
reduce (and, in the case of a reduction in full, shall terminate) the Revolving Commitments of each Revolving Lender on the date specified in such notice and (3) shall specify the Commitment Reduction Amount; provided that no such
reduction shall reduce the Total Revolving Commitment below the aggregate principal amount of the Revolving Loans at such time. 

(iii) The Total Revolving Commitment (and the Revolving Commitment of each Lender), once terminated or reduced may not be
reinstated. 
 (iv) The Borrower will not reduce the Total Revolving Commitment if, after giving effect to such reduction or
termination, such reduction would result in a Commitment Shortfall. 

  
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 (b) Conversion of Revolving Loans to Term Loans. 

(i) At any time during the Commitment Period, the Administrative Agent may request (with notice to the Borrower and the
Services Provider) that any portion (such portion, the “Requested Conversion Portion”) of the outstanding Revolving Loans be converted to a term loan equal to such Requested Conversion Portion. 

(ii) If, on a proposed Conversion Date, the Borrower has given its prior written consent, such consent to be given in the
Borrower’s sole discretion, to conversion of the Requested Conversion Portion into a Term Loan as of a such Conversion Date, then, on such Conversion Date, (A) the outstanding principal amount of the applicable Revolving Lender’s
Revolving Loans shall be reduced by the Requested Conversion Portion and the amount of such reduction shall be converted into a Term Loan equal to such Requested Conversion Portion and (B) the Revolving Commitments of such Lender shall be
permanently reduced by such Requested Conversion Portion. 
 (iii) For all purposes hereunder, the Revolving Loans converted
on each Conversion Date shall, as of such date, constitute and be referred to and treated for all purposes as a Term Loan hereunder. Any converting Lender and the Borrower shall cooperate to evidence the repayment and cancellation of any related
Note evidencing such Lender’s Revolving Loans (or portion thereof) being converted into a Term Loan, as well as the issuance of any related Note evidencing the Term Loans pursuant to Section 2.3(d). 

(iv) The Borrower will not convert any Revolving Loans to Term Loans if, after giving effect to such conversion, a Commitment
Shortfall would exist. 
 (c) Prepayments on Quarterly Payment Dates. On each Quarterly Payment Date, the Loans will be prepaid to
the extent required under the Priority of Payments. To the extent designated by the Borrower in writing to the Administrative Agent, each such prepayment of Revolving Loans shall result in a permanent reduction (or termination, as applicable) of the
Revolving Commitments. 
 (d) Other Prepayments. Subject to the requirements that after giving effect to the proposed prepayment
and/or redemption (x) there will be sufficient funds in the Collection Account to make all payments described in clauses (A) through (C) of Section 9.1(a)(i) on the next Quarterly Payment Date and
(y) there is no Commitment Shortfall, on any Business Day: 
 (i) the Borrower may (A) upon at least two Business
Days’ notice (which notice shall contain a certificate of an Authorized Officer of the Borrower certifying as to the satisfaction of the requirements set forth in this Section 2.7(d) with respect to such proposed
prepayment) to the Agents and S&P, prepay all or any portion of the Loans then outstanding, without penalty or premium, by paying to the Collateral Agent for the account of the Lenders the principal amount to be prepaid (from amounts on deposit
in the Collection Account constituting Principal Proceeds) together with accrued interest (including any accrued and unpaid interest amounts) and Commitment Fees, if applicable, thereon to the date of prepayment (from amounts on deposit in the
Collection Account constituting Interest Proceeds) and any amount due pursuant to Section 2.9 (from amounts 

  
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on deposit in the Collection Account constituting Principal Proceeds); provided that any prepayments of Loans made pursuant to this clause (A) shall (x) result in the reduction
and, as applicable, termination, of the Revolving Commitments on a dollar-for-dollar basis and (y) be allocated between the Revolving Loans and the Term Loans based
on, with respect to principal, the Principal Allocation Formula, and with respect to interest and any other payments on a pro rata basis; and (B) on any Business Day during the Reinvestment Period, if each Coverage Test is satisfied, or if not
satisfied, maintained or improved, after giving effect thereto, upon at least two Business Days’ notice to the Agents, prepay all or any portion of the Revolving Loans then outstanding by paying the principal amount to be prepaid (from amounts
on deposit in the Collection Account constituting Principal Proceeds) together with accrued interest and Commitment Fees, if applicable, thereon to the date of prepayment (from amounts on deposit in the Collection Account constituting Interest
Proceeds) and any amounts due pursuant to Section 2.9 (from amounts on deposit in the Collection Account constituting Principal Proceeds); provided that any prepayments of the Revolving Loans made pursuant to this
clause (B) shall not result in any reduction in the Revolving Commitments at such time and such prepaid amounts under the Revolving Loans may be re-borrowed in accordance with the terms of this Agreement;

 (ii) Each notice of such prepayment and/or redemption shall be effective upon receipt and shall be dated the date such
notice is being given, signed by an Authorized Officer of the Borrower. Each prepayment and/or redemption of any Loans by the Borrower pursuant to this Section 2.7(d) shall in each case be in a principal amount of at least
$250,000 or a whole multiple of $1,000 in excess thereof or, if less, the entire outstanding principal amount of such Loans. If a notice of such prepayment and/or redemption is given by the Borrower, the Borrower shall make such prepayment and/or
redemption and the payment amount specified in such notice shall be due and payable on the date specified therein. Each prepayment and redemption pursuant to this Section 2.7(d) shall be subject to
Section 2.9. All prepayments and redemptions of Loans pursuant to this Section 2.7(d) shall be applied in accordance with the procedures set forth in Section 2.7(g) and
shall not be subject to the Priority of Payments. 
 (e) Upon receipt of a notice of reduction or prepayment and/or redemption from the
Borrower pursuant to Section 2.7(a)(ii) or 2.7(d), the Administrative Agent shall promptly notify each Lender, of the contents thereof and of such Lender’s ratable share (if any) of such reduction,
prepayment or redemption, as applicable, and such notice shall thereafter be revocable by the Borrower no later than 2:00 p.m. (New York City time) one Business Day before the date set forth by the Borrower in the applicable notice of
reduction or prepayment as the reduction or prepayment and/or redemption date. Upon the expiration of such time period, the notice of reduction or prepayment and/or redemption shall be irrevocable; provided that any such notice may provide
that repayment and/or redemption shall be subject to and contingent on the consummation of alternative financing. 
 (f) The Term Loans,
once prepaid, cannot be reborrowed. 
 (g) Except as provided in clause (d) above, all reductions of the Revolving Commitments shall be
applied to the Revolving Commitments of each Revolving Lender, ratably in accordance with their relevant applicable Percentage Shares, and all prepayments of the Loans shall be applied to the outstanding principal amount of the Revolving Loans and
Term Loans of each applicable Lender on a pro rata basis. 

  
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 (h) The Borrower may effect a prepayment of all or any portion of the Loans then outstanding
pursuant to Section 2.7(d) from the proceeds of the sale of Collateral Loans in connection with a Permitted Securitization. The Borrower may effect a Permitted Distribution from the proceeds of the sale of Collateral Loans
in connection with a Permitted Securitization if the Borrower has first effected a prepayment of a portion of the Loans then outstanding from such proceeds pursuant to Section 2.7(d) in an amount sufficient to satisfy the
requirements of sub-clause (x) of clause (b) of the definition of Permitted Distribution. 

Section 2.8 General Provisions as to Payments. 

(a) The failure of any Lender to make any Loan to be made by it on the date specified therefor shall not relieve any other Lender of its
obligation to make its Loan on such date, neither Agent shall be responsible for the failure of any Lender to make any Loan, and no Lender shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender. 

(b) Except as otherwise provided in Section 2.7(d), all payments by the Borrower pursuant to this Agreement or any
of the Loan Documents in respect of principal of, or interest on or other amounts owing in respect of, the Loans shall be made in Dollars pursuant to the Priority of Payments. All amounts payable to the Lenders, the Administrative Agent or the
Collateral Agent under this Agreement or otherwise (including, but not limited to, fees) shall be paid to the Lenders, the Administrative Agent or the Collateral Agent for the account of the Person entitled thereto. All payments hereunder or under
the other Loan Documents shall be made, without setoff or counterclaim, in funds immediately available in New York City, to each Lender, the Administrative Agent or the Collateral Agent at its address referred to in
Section 12.1. All payments hereunder or under the other Loan Documents to the Lenders, the Administrative Agent or the Collateral Agent shall be made not later than 1:00 p.m. (New York City time) on the date when
due. 
 (c) The Collateral Agent shall promptly distribute to each Lender its ratable share, if any, of each payment received hereunder by
the Collateral Agent for the account of the Lenders without setoff or counterclaim. Whenever any payment of principal of, or interest on, the Loans or any other amount hereunder shall be due on a day which is not a Business Day, the date for payment
thereof shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case the date for payment thereof shall be the immediately preceding Business Day. If the date for any payment of
principal is extended, by operation of law or otherwise, interest thereon shall be payable for such extended time. 
 Section 2.9
Funding Losses. If the Borrower (1) makes any payment of principal with respect to any Loan on any day other than on a Quarterly Payment Date, (2) fails to borrow any Loans after notice thereof has been given to any Lender in
accordance with Section 2.2 and not revoked as permitted in this Agreement (other than as a result of a default by any Lender) or (3) fails to prepay any Loans after notice thereof has been given to any Lender in
accordance with Section 2.7 and not revoked as permitted in this Agreement, then, in any such event, the 

  
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Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In the case of a Eurodollar Rate Loan, such loss, cost or expense (I) shall include
(a) in the case of any payment of principal with respect to any Loan on any day other than on a Quarterly Payment Date, the amount, if any, by which (i) the reasonable and documented losses, costs and expenses (including those incurred by
reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Loan being repaid or by reason of a CP Lender’s inability to retire the source of the Borrowing being prepaid simultaneously with the
prepayment, but excluding in any event the loss of anticipated profits) sustained by such Lender exceed (ii) the income, if any, received by such Lender from such Lender’s investment of the proceeds of such prepayment or (b) in the
case of any failure to borrow, the amount, if any, by which (i) any losses (excluding loss of anticipated profits), costs or expenses incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to
fund the Loan to be made by such Lender as part of the Borrowing requested in such Notice of Borrowing when such Loan, as a result of such failure, is not made on such date exceed (ii) the income, if any, received by such Lender from such
Lender’s investment of funds acquired by such Lender to fund the Loan to be made as part of such Borrowing and (II) shall constitute Increased Costs payable by the Borrower on the next Quarterly Payment Date pursuant to the Priority of
Payments. 
 Section 2.10 Computation of Interest and Fees. Except as otherwise expressly provided herein, interest and fees
payable pursuant to this Agreement shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day except in the case of interest or fees calculated on the
basis of an Interest Period). All amounts payable hereunder shall be paid in Dollars. 
 Section 2.11 No Cancellation of
Indebtedness. Notwithstanding anything to the contrary herein, no Loan may be cancelled, surrendered, abandoned or forgiven except for payment as provided herein. 

ARTICLE III 
 CONDITIONS
TO BORROWINGS 
 Section 3.1 Effectiveness of Commitments. The effectiveness of the Commitments shall occur when each of the
following conditions is satisfied (or waived by the Administrative Agent and each Lender), each document to be dated the Closing Date (unless otherwise indicated) and delivered to the relevant Persons indicated below, and each document and other
condition or evidence to be in form and substance reasonably satisfactory to the Administrative Agent: 
 (a) The Agents shall have received
counterparts of (i) this Agreement duly executed and delivered by all of the parties hereto and (ii) each of the other Loan Documents to be executed and delivered on the Closing Date, each duly executed and delivered by all of the parties
thereto. 

  
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 (b) The Agents shall have received (i) proper financing statements, duly filed on or
before the Closing Date (and the Borrower hereby consents to such filing by the Collateral Agent or the Administrative Agent) under the UCC in all jurisdictions that the Administrative Agent reasonably deems necessary or desirable in order to
perfect the interests in the Collateral contemplated by this Agreement and any other Loan Documents and (ii) copies of proper financing statements, if any, necessary to release all security interests and other rights of any Person in the
Collateral previously granted by the Borrower or any other transferor. 
 (c) The Agents shall have received legal opinions (addressed to
each of the Secured Parties from (i) Latham & Watkins LLP, counsel to the Borrower, the Services Provider, the Retention Holder and the Seller (including, without limitation, true sale opinions), (ii) Nixon Peabody LLP,
counsel to the Collateral Agent, the Collateral Administrator and the Custodian (iii) Eversheds Sutherland (US) LLP, counsel to the Services Provider and the Retention Holder, (iv) Holland & Knight LLP, counsel to the
Document Custodian, and (v) Morris, Nichols, Arsht & Tunnell LLP, special Delaware counsel to the Borrower, each covering such matters as the Administrative Agent and its counsel shall reasonably request. 

(d) The Administrative Agent shall have received evidence reasonably satisfactory to it that (i) all of the Covered Accounts shall have
been established, (ii) the Account Control Agreement shall have been executed and delivered by the respective parties thereto and shall be in full force and effect and (iii) all amounts required to be deposited in any of the Covered
Accounts as of the Closing Date pursuant to Section 8.3 shall have been so deposited. 
 (e) The Agents shall have
received a letter from S&P addressed to the Borrower confirming that the Loans have been assigned a rating of “AA”. 
 (f) The
Borrower shall have paid (i) the fees to be received by Société Générale (or any designated Affiliate) on the Closing Date pursuant to the Fee Letter and (ii) all reasonable and documented fees and out-of-pocket costs and expenses of the Agents, the Lenders, S&P, respective legal counsel and each other Person payable as agreed by the parties hereto, in connection
with the preparation, execution and delivery of this Agreement and the other Loan Documents. 
 (g) The Agents shall have received a
certificate of an Authorized Officer of the Borrower: 
 (i) to the effect that, as of the Closing Date (A) subject to
any conditions that are required to be satisfactory or acceptable to any Agent, all conditions set forth in this Section 3.1 have been fulfilled; (B) all representations and warranties of the Borrower set forth in this
Agreement and each of the other Loan Documents are true and correct in all material respects; and (C) no Default has occurred and is continuing; 

(ii) certifying as to and attaching (A) its Constituent Documents; (B) the incumbency and specimen signature of each
of its Authorized Officers authorized to execute the Loan Documents to which it is a party; and (C) a good standing certificate from its state or jurisdiction of incorporation or organization and any other state or jurisdiction in which it is
qualified to do business in which the failure to be so qualified would reasonably be expected to have a Material Adverse Effect; and 

  
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 (iii) certifying that the Borrower does not have outstanding debt prior to
the Closing Date, and is not at such time party to, any interest rate hedging agreements or currency hedging agreements. 
 (h) The Agents
shall have received a certificate of an Authorized Officer of each of the Services Provider, the Retention Holder and the Seller: 

(i) to the effect that, as of the Closing Date, all representations and warranties of the Services Provider, the Retention
Holder and the Seller, respectively, set forth in each of the Loan Documents are true and correct in all material respects; and 

(ii) certifying as to and attaching (A) its Constituent Documents; (B) its resolutions or other action of its board
of directors, designated manager or managing member, as applicable, approving the Loan Documents to which it is a party and the transactions contemplated thereby; (C) the incumbency and specimen signature of each of its Authorized Officers
authorized to execute the Loan Documents to which it is a party; and (D) a good standing certificate from its state or jurisdiction of incorporation or organization and any other state or jurisdiction in which it is qualified to do business in
which the failure to be so qualified would reasonably be expected to have a Material Adverse Effect. 
 (i) If requested by any Lender in
writing, the Administrative Agent shall have received evidence that the Borrower obtained a CUSIP or other loan identification number requested by such Lender that is customary for the nature of the Loans made hereunder. 

(j) The Administrative Agent shall have received a secretary’s certificate from the Collateral Agent, which shall include the incumbency
and specimen signature of each of its Authorized Officers authorized to execute the Loan Documents to which it is a party. 
 (k) The Agents
shall have received from the Borrower either (A) a certificate thereof or other official document evidencing the due authorization, approval or consent of any governmental body or bodies, at the time having jurisdiction in the premises,
together with an opinion of counsel of the Borrower, as applicable, that no other authorization, approval or consent of any governmental body is required for the Borrower to fulfill its obligations under the Loan Documents or (B) an opinion of
counsel of the Borrower that no such authorization, approval or consent of any governmental body is required for the Borrower to fulfill its obligations under the Loan Documents except as have been given. 

(l) The Borrower shall have provided to each Lender, the Administrative Agent, the Custodian, the Document Custodian and the Collateral Agent
any documentation and other information requested in connection with applicable “know your customer” and anti-money-laundering rules and regulations, including the PATRIOT Act. 

(m) At least five (5) days prior to the Closing Date, if the Borrower or Services Provider qualifies as a “legal entity
customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to such party shall be delivered. 

  
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 Section 3.2 Borrowings and Issuance. The obligation of any Revolving Lender to
make its initial Revolving Loan on the occasion of the initial Borrowing is subject to the satisfaction of the following conditions (provided, however, that in the event the Revolving Lender makes its initial Revolving Loan, such
conditions will be deemed to be satisfied or waived, as applicable): 
 (a) The Agents shall have received evidence satisfactory to the
Administrative Agent and the Lenders that (w) the grant of security pursuant to the Granting Clause herein of all of the Borrower’s right, title and interest in and to the Collateral pledged to the Collateral Agent on the Closing Date
shall be effective in all relevant jurisdictions, (x) delivery of such Collateral in accordance with Section 8.7 to the Custodian or the Document Custodian, as applicable, shall have been effected, (y) the
Borrower (or the Services Provider on behalf of the Borrower) will deliver copies of all Related Contracts for such Collateral in its possession to the Document Custodian in accordance with Sections 5.26
and 14.1(b) and (z) all other actions, recordings and filings that the Administrative Agent may deem necessary or desirable in order to perfect the Liens created by the Granting Clause have been taken. 

(b) The Agents shall have received a certificate of an Authorized Officer of the Services Provider (which certificate shall include a schedule
listing the Collateral Loans owned by the Borrower on the Initial Borrowing Date), to the effect that, (1) in the case of each item of Collateral pledged to the Collateral Agent, on the Initial Borrowing Date and immediately prior to the
delivery thereof on or prior to the Initial Borrowing Date, (A)(w) the Borrower is the owner of such Collateral free and clear of any liens, claims or encumbrances of any nature whatsoever except for Permitted Liens and those which have been
released on or prior to the Initial Borrowing Date; (x) the Borrower has acquired its ownership in such Collateral in good faith without notice of any adverse claim, except as described in clause (w) above; (y) the Borrower has not
assigned, pledged or otherwise encumbered any interest in such Collateral (or, if any such interest has been assigned, pledged or otherwise encumbered, it has been released) other than pursuant to this Agreement; and (z) the Borrower has full
right to grant a security interest in and assign and pledge such Collateral to the Collateral Agent; and (B) upon the Grant by the Borrower of a security interest in the Collateral pursuant to the Granting Clause and upon the delivery of
Collateral that is required to be delivered to the Collateral Agent hereunder, the filing of all UCC-1 financing statements as are necessary to perfect the interests of the Secured Parties in the Collateral
and the execution of the Account Control Agreement, the Collateral Agent shall have a first priority perfected security interest in the Collateral, except in respect of any Permitted Lien or as otherwise permitted by this Agreement and
(2) immediately before and after giving effect to the Borrowings, the Overcollateralization Ratio Test shall be satisfied (as demonstrated in a writing attached to the certificate of the Services Provider). 

(c) The Agents shall have received a certificate of an Authorized Officer of the Borrower certifying that: 

(i) the Closing Date Portfolio Condition is satisfied; 

(ii) immediately after giving effect to the Borrowings to be made on the Initial Borrowing Date (on a pro forma basis) the
aggregate outstanding principal amount of the Revolving Loans shall not exceed the Total Revolving Commitment as in effect on the Initial Borrowing Date; 

  
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 (iii) immediately before and after such Borrowing, no Default shall have
occurred and be continuing both before and after giving effect to the making of such Revolving Loans; 
 (iv) the
representations and warranties of the Borrower contained in this Agreement and each of the other Loan Documents shall be true and correct in all material respects on and as of the Initial Borrowing Date (unless stated to relate solely to an earlier
date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date) both before and after giving effect to the making of such Loans; 

(v) no law or regulation shall have been adopted, no order, judgment or decree of any Governmental Authority shall have been
issued, and no litigation shall be pending or, to the actual knowledge of a Senior Authorized Officer of the Borrower, threatened, which does or, with respect to any threatened litigation, seeks to enjoin, prohibit or restrain the making or
repayment of the Loans or the consummation of the transactions among the Borrower, the Services Provider, the Lenders and the Agents contemplated by this Agreement; and 

(vi) each of the Loan Documents is in full force and effect and is the binding and enforceable obligation of the Borrower and
the Services Provider, in each case, to the extent such Person is a party thereto (except for those provisions of any Loan Document not material, individually or in the aggregate with other affected provisions, to the interests of any of the
Lenders). 
 (d) The Agents shall have received such other opinions, instruments, certificates and documents from the Borrower as the Agents
or any Lender shall have reasonably requested; provided that sufficient notice of such request has been given to the Borrower (though nothing herein shall impose an obligation on any Agent to make any such request). 

Section 3.3 Borrowings and Issuance. The obligation of any Lender to make a Revolving Loan on the occasion of any Borrowing is
subject to the satisfaction of the following conditions: 
 (a) the Administrative Agent shall have received a Notice of Borrowing as
required by Section 2.2; 
 (b) immediately after giving effect to such Borrowing (and, for the avoidance of
doubt, if any of the following limits would be exceeded on a pro forma basis, such Borrowing shall not be permitted), (i) the aggregate outstanding principal amount of the Revolving Loans shall not exceed the Total Revolving Commitment as in
effect on such Borrowing Date and (ii) the Senior Advance Rate Test shall be satisfied; 
 (c) no Commitment Shortfall shall exist
after giving effect to such Borrowing; 

  
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 (d) except in the case of Revolving Loans obtained to fund Unfunded Amounts; 

(i) immediately before and after such Borrowing, no Default shall have occurred and be continuing both before and after giving
effect to the funding of such Loan; 
 (ii) the representations and warranties of the Borrower contained in this Agreement
and each of the other Loan Documents shall be true and correct in all material respects on and as of the date of such Borrowing (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and
correct in all material respects as of such earlier date) both before and after giving effect to the funding of such Loan; 

(iii) no law or regulation shall have been adopted, no order, judgment or decree of any Governmental Authority shall have been
issued, and no litigation shall be pending or, to the actual knowledge of a Senior Authorized Officer of the Borrower, threatened, which does or, with respect to any threatened litigation, seeks to enjoin, prohibit or restrain the funding or
repayment of the Loans or the consummation of the transactions among the Borrower, the Services Provider, the Lenders and the Agents contemplated by this Agreement; 

(iv) each of the Loan Documents remains in full force and effect and is the binding and enforceable obligation of the Borrower
and the Services Provider, in each case, to the extent such Person is a party thereto (except for those provisions of any Loan Document not material, individually or in the aggregate with other affected provisions, to the interests of any of the
Lenders); and 
 (v) immediately after giving effect to the requested Borrowing, the Eligibility Criteria shall be satisfied
(as certified in a writing attached to such Notice of Borrowing). 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF THE BORROWER 

In order to induce the Administrative Agent and each of the Lenders which may become a party to this Agreement to make the Loans, the Borrower
makes the following representations and warranties as of the Closing Date. Such representations and warranties shall survive the effectiveness of this Agreement, the execution and delivery of the other Loan Documents, the making of the Loans. 

Section 4.1 Existence and Power. The Borrower is an limited liability company duly formed and validly existing and in good
standing under the laws of the state of Delaware. Each of the Borrower’s chief place of business, its chief executive office and the office in which the Borrower maintains its books and records are located in the address set forth on the
signature pages hereof. The Borrower has all powers and all material governmental licenses, authorizations, consents and approvals required to own its property and assets and carry on its business as now conducted or as it presently proposes to
conduct it, and has been duly qualified and is in good standing (as applicable) in every jurisdiction in which the failure to be so qualified and/or in good standing is likely to have a Material Adverse Effect. 

  
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 Section 4.2 Power and Authority. The Borrower has the power and authority to
execute, deliver and carry out the terms and provisions of each of the Loan Documents to which it is a party and has taken all necessary action to authorize the execution, delivery and the performance of such Loan Documents to which it is a party.
The Borrower has duly executed and delivered each such Loan Document, and each such Loan Document constitutes the legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms, except as enforceability may be limited
by applicable insolvency, bankruptcy or other laws affecting creditors’ rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law. 

Section 4.3 No Violation. Neither the execution, delivery or performance by the Borrower of the Loan Documents to which it is a
party nor compliance by the Borrower with the terms and provisions thereof nor the consummation of the transactions among the Borrower, the Services Provider, the Lenders and the Agents contemplated by the Loan Documents (i) will contravene in
any material respect any applicable provision of any law, statute, rule, regulation, order, writ, injunction or decree of any court or governmental instrumentality, (ii) will conflict, in any material respect, with or result in any breach of,
any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of the Borrower pursuant to the
terms of any indenture, agreement, lease, instrument or undertaking to which the Borrower is a party or by which it or any of its property or assets is bound or to which it is subject (except Permitted Liens) or (iii) will contravene the terms
of any organizational documents of the Borrower, or any amendment thereof. 
 Section 4.4 Litigation. There is no action, suit
or proceeding pending against or, to the actual knowledge of a Senior Authorized Officer of the Borrower, threatened against or adversely affecting, (i) the Borrower or the Services Provider or (ii) the Loan Documents or any of the
transactions contemplated by the Loan Documents, before any court, arbitrator or any governmental body, agency or official, in each case, which has had or would reasonably be expected to have a Material Adverse Effect. 

Section 4.5 Compliance with ERISA. 

(a) Neither the Borrower nor any member of its ERISA Group, if any, has any liability or obligation with respect to any Plan or any
Multiemployer Plan which has had or would reasonably be expected to have a Material Adverse Effect. The Borrower has not maintained or sponsored any Plan or any Multiemployer Plan in the past 5 years. 

(b) The assets of the Borrower are not treated as “plan assets” for purposes of 29 C.F.R.
Section 2510.3-101 and Section 3(42) of ERISA. The Borrower has not taken, or omitted to take, any action which, assuming no assets of the Lenders being used in connection with the Loans or this
Agreement are treated as “plan assets” for purposes of 29 C.F.R. Section 2510.3-101 and Section 3(42) of ERISA, would result in the occurrence of any Prohibited Transaction in
connection with the transactions contemplated hereunder. 

  
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 Section 4.6 Environmental Matters. 

(a) The Borrower’s operations comply in all material respects with all applicable Environmental Laws; 

(b) None of the Borrower’s operations is the subject of a federal or state investigation evaluating whether any remedial action,
involving expenditures, is needed to respond to a release of any Hazardous Substances into the environment; and 
 (c) The Borrower does not
have any material contingent liability in connection with any release of any Hazardous Substances into the environment. 
 Section 4.7
Taxes. The Borrower has filed or caused to be filed all federal and other material Tax returns and reports required to be filed by it and has paid all federal and other material Taxes required to be paid by it, except such as are being
contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been provided. 

Section 4.8 Full Disclosure. (a) No written information (other than projections, other
forward-looking information, information of a general economic or general industry nature and pro forma financial information) heretofore (as of each date when this representation and warranty is made)
furnished by or on behalf of the Borrower to the Agents or any Lender for purposes of, or in connection with this Agreement or any other Loan Document or any transaction contemplated hereby or thereby, contains any material misstatement of fact or
omits to state any material fact necessary to make the statements therein, in light of the circumstances under which such information was furnished, not misleading (to the best knowledge of the Borrower, in the case of information obtained by the
Borrower from Obligors or other unaffiliated third parties) as of the date such information was furnished. The projections and pro forma financial information contained in the materials referenced above are based upon good faith estimates and
assumptions believed by management of the Borrower to be reasonable at the time made, it being recognized by the Lenders that such projections and pro forma financial information as it relates to future events are not to be viewed as fact and that
actual results during the period or periods covered by such projections and pro forma financial information may differ from the projected and pro forma results set forth therein by a material amount. 

(b) On the Closing Date, if the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, the
information included in the Beneficial Ownership Certification provided by the Borrower is true and correct in all respects. 

Section 4.9 Solvency. On the Closing Date, and after giving effect to the transactions contemplated by the Loan Documents, the
Borrower will be solvent. 
 Section 4.10 Use of Proceeds; Margin Regulations. All proceeds of the Loans will be used by the
Borrower only in accordance with the provisions of this Agreement and the other Loan Documents. No part of the proceeds of any Loan will be used by the Borrower in any manner, whether directly or indirectly, that causes such Loan or the application
of such proceeds to violate Regulations T, U or X of the Federal Reserve Board. 

  
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 Section 4.11 Governmental Approvals. No order, consent, approval, license,
authorization, or validation of, or filing, recording or registration with, or exemption by, any governmental or public body or authority, or any subdivision thereof, is required to authorize, or is required in connection with the execution,
delivery and performance of any Loan Document to which the Borrower is a party or the consummation of any of the transactions contemplated thereby other than those that have already been duly made or obtained and remain in full force and effect or
those recordings and filings in connection with the Liens granted to the Collateral Agent under the Loan Documents, except for any order, consent, approval, license, authorization, or validation of, or filing, recording or registration with, or
exemption, that, if not obtained, would not, either individually or in the aggregate reasonably be expected to have a Material Adverse Effect. 

Section 4.12 Investment Company Act. Neither the Borrower nor the pool of Collateral is an “investment company” as
defined in, or subject to regulation under, the Investment Company Act. 
 Section 4.13 Representations and Warranties in Loan
Documents. All representations and warranties made by the Borrower in the Loan Documents to which it is a party are true and correct in all material respects as of the date of this Agreement and as of any date that Borrower is deemed to reaffirm
the same under this Agreement (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date). 

Section 4.14 Ownership of Assets. The Borrower owns all of its properties and assets, of any nature whatsoever, free and clear of
all Liens, except Permitted Liens. 
 Section 4.15 No Default. No Default exists under or with respect to any Loan Document. The
Borrower is not in default under or with respect to any material agreement, instrument or undertaking to which it is a party or by which it or any of its properties is bound in any respect, the existence of which default has had or would reasonably
be expected to have a Material Adverse Effect. 
 Section 4.16 Labor Matters. There is no labor controversy pending with respect
to or, to the knowledge of a Senior Authorized Officer of the Borrower, threatened against the Borrower, which has had or, if adversely determined, would reasonably be expected to have a Material Adverse Effect. 

Section 4.17 Subsidiaries/Equity Interests. The Borrower (a) has no Subsidiaries and (b) owns no equity interest in any
other entity except equity received in connection with the exercise of remedies against an Obligor or through a restructuring of the Obligor, subject to Section 10.1(a)(iv). 

Section 4.18 Ranking. All Obligations, including the Obligations to pay principal of, interest on and any other amounts in respect
of the Loans, constitute senior indebtedness of the Borrower (subject to the Priority of Payments (including without limitation Sections 6.4 and 9.1)). 

  
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 Section 4.19 Representations Concerning Collateral. 

(a) Upon each transfer of Collateral in the manner specified in Section 8.7 and after the other actions described in
Section 8.7 have been taken by the appropriate parties, the Collateral Agent in accordance with Section 8.7, for the benefit of the Secured Parties, will have a perfected pledge of and security
interest in such Collateral and all proceeds thereof (subject to § 9-315(c) of the UCC), which security interest shall be prior to all other interests in such Collateral, other than certain Permitted
Liens that are prior to the security interest of the Secured Parties by operation of law or, in the case of clause (h) of the definition of “Permitted Liens”, by contract. No filings other than those described or referred to in
Section 8.7 or any other action other than those described in Section 8.7 will be necessary to perfect such security interest. 

(b) Immediately before giving effect to each transfer of Collateral Loans, Eligible Investments and other Collateral by the Borrower to the
Collateral Agent in accordance with Section 8.7, the Borrower will be the beneficial owner of such Collateral Loans, Eligible Investments and other Collateral, and the Borrower will have the right to receive all Collections
on such Collateral Loans, Eligible Investments and other Collateral, in each case free and clear of all Liens, security interests and adverse claims other than Permitted Liens. 

(c) All of the Obligors and administrative agents, as applicable, in respect of the Collateral Loans, or Selling Institutions in respect of
Participation Interests, have been instructed to make payments to the Collection Account. 
 Section 4.20 Ordinary Course. Each
repayment of principal or interest under this Agreement shall be (x) in payment of a debt incurred by the Borrower in the ordinary course of business or financial affairs of the Borrower and (y) made in the ordinary course of business or
financial affairs of the Borrower. 
 Section 4.21 Compliance with Anti-Corruption Laws and Anti-Money Laundering Laws. The
Borrower represents and warrants that (a) neither it nor any of its directors or officers, nor (to the knowledge of the Borrower) any of its Affiliates, brokers and agents acting or benefitting in any capacity in connection with the Loans, have
engaged in any activity or conduct that would breach Anti-Corruption Laws or Anti-Money Laundering Laws and (b) it has instituted and maintains policies and procedures designed to promote and achieve compliance with Anti-Corruption Laws and
Anti-Money Laundering Laws. 
 Section 4.22 Compliance with Sanctions. The Borrower is not, and to the knowledge of the
Borrower, no Affiliate or broker or other agent of the Borrower or its Affiliates acting or benefiting in any capacity in connection with the Loans is (i) a Sanctioned Person, or (ii) in violation of any Sanctions, and (b) no Loan,
use of proceeds or other transaction contemplated by this Agreement will result in the violation of any applicable Sanctions by any party to this Agreement. 

Section 4.23 Compliance with Laws. The Borrower is in compliance in all material respects with all Applicable Law except where the
necessity of compliance therewith is contested in good faith by appropriate proceedings. 

  
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 ARTICLE V 

AFFIRMATIVE AND NEGATIVE COVENANTS OF THE BORROWER 

The Borrower covenants and agrees that, so long as any Lender has any Commitment hereunder or any Obligations remain unpaid, and unless the
Majority Lenders shall otherwise consent in writing: 
 Section 5.1 Information. The Borrower will deliver (or will cause to be
delivered) the following to the Agents and S&P (and the Administrative Agent shall furnish copies thereof to each of the Lenders); provided that (1) the information described in clause (g) below will be required to be furnished
solely to the Administrative Agent for distribution to each of the Lenders and (2)(x) the Borrower will procure the delivery by the Retention Holder of the information described in clause (h) and (y) the information described in
clause (i) below will be required to be furnished solely to the Administrative Agent for distribution to each Affected Lender: 
 (a)
as soon as available and in any event within 60 days after the end of each fiscal quarter of each fiscal year, a balance sheet of the Borrower as of the end of such quarter and the related statements of operations for such quarter and for the
portion of the Borrower’s fiscal year ended at the end of such quarter; 
 (b) simultaneously with the delivery of each set of
financial statements referred to in clauses (a) above, a certificate of the Borrower certifying (x) that such financial statements fairly present in all material respects the financial condition and the results of operations of the
Borrower on the dates and for the periods indicated, on the basis of GAAP, subject, in the case of interim financial statements, to normally recurring year-end adjustments and the absence of notes, and
(y) that an Authorized Officer of the Services Provider has reviewed the terms of the Loan Documents and has made, or caused to be made under his or her supervision, a review in reasonable detail of the business and condition of the Borrower
during the period beginning on the date through which the last such review was made pursuant to this Section 5.1(b) (or, in the case of the first certification pursuant to this Section 5.1(b), the
Closing Date) and ending on a date not more than five Business Days prior to the date of such delivery and that on the basis of such financial statements and such review of the Loan Documents, no Default has occurred and is continuing or, if any
such Default has occurred and is then continuing, specifying the nature and extent thereof and, if continuing, the action the Services Provider is taking or proposes to take in respect thereof; 

(c) as soon as reasonably available and in any event within 120 days after the end of each fiscal year, a balance sheet of the Parent as
of the end of such fiscal year and the related statements of operations and cash flows for such fiscal year audited by independent public accountants of nationally recognized standing; provided that if such audited balance sheet is not
publicly available pursuant to the last sentence of this Section 5.1, then such audited financial statements shall be due within 30 days after request by the Administrative Agent (so long as the date of such request
such date is not less than 90 days after then end of the applicable fiscal year); 

  
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 (d) as soon as available and in any event within 60 days after the end of each of the
first three quarters of each fiscal year, a balance sheet of the Parent as of the end of such quarter and the related statements of operations for such quarter and for the portion of the Parent’s fiscal year ended at the end of such quarter;

 (e) (i) within two Business Days after a Senior Authorized Officer of the Borrower obtains actual knowledge of any Default, if such
Default is then continuing, a certificate of such Senior Authorized Officer setting forth the details thereof and the action which the Borrower is taking or proposes to take with respect thereto; (ii) promptly and in any event within five
Business Days after a Senior Authorized Officer obtains knowledge thereof, notice of any (x) litigation or governmental proceeding pending or actions threatened against the Borrower or its rights in the Collateral Loans or other Collateral
which have had or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and (y) any other event, act or condition which has had or would reasonably be expected to have a Material Adverse Effect; and
(iii) promptly after a Senior Authorized Officer of the Borrower obtains knowledge that any loan included in the Collateral does not qualify as a “Collateral Loan,” notice setting forth the details with respect to such
disqualification; 
 (f) promptly upon the sending thereof, copies of all reports, notices or documents that the Borrower sends to any
governmental body, agency or regulatory authority (excluding routine filings) and not otherwise required to be delivered hereunder; 
 (g)
promptly and in any event within 5 Business Days after a Senior Authorized Officer of the Borrower obtains actual knowledge of any of the following events, a certificate of the Borrower, executed by a Senior Authorized Officer of the Borrower,
specifying the nature of such condition and the Borrower’s proposed response thereto: (i) the receipt by the Borrower of any written communication, whether from a Governmental Authority, authorized citizens group, employee or otherwise,
that alleges that the Borrower is not in compliance with applicable Environmental Laws, and such noncompliance had or would reasonably be expected to have a Material Adverse Effect, (ii) the Borrower has actual knowledge that there exists any
Environmental Claim pending or threatened against the Borrower that has had or would reasonably be expected to have a Material Adverse Effect or (iii) the Borrower has actual knowledge of any release, emission, discharge or disposal of any
Hazardous Substances that has had or would reasonably be expected to have a Material Adverse Effect; 
 (h) not later than the tenth
Business Day after the Collateral Report Determination Date for each calendar month (or if such day is not a Business Day, the next succeeding Business Day), a report concerning the Collateral Loans and Eligible Investments (the “Collateral
Report”); the first Collateral Report shall be delivered in September 2019 and shall be determined with respect to the Collateral Report Determination Date occurring in September 2019; the Collateral Report for a calendar month shall
contain the information with respect to the Collateral Loans and Eligible Investments described in Exhibit D, and shall be determined as of the Collateral Report Determination Date for such calendar month. Any calculations
in connection with such Collateral Report shall be made on a trade date basis. 
 (i) on each Quarterly Payment Date, a Payment Date Report
in accordance with Section 9.1(c); 

  
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 (j) from time to time such additional information regarding the Collateral or the financial
position or business of the Borrower as the Agents, on either their own initiative or at the request of the Majority Lenders or S&P, may reasonably request in writing; 

(k) the information described in Exhibit F, at the times indicated therein, which shall be subject to adjustment
with the prior written consent of the Borrower and the Majority Lenders; 
 (l) (i) promptly following a request by any Affected Lender
which is (x) received in connection with a material amendment of any Loan Document, a confirmation of the Retention Letter from the Retention Holder or (y) for additional information which is either in the possession of the Retention
Holder or can be obtained at no material cost to the Retention Holder, such additional information as such Affected Lender may reasonably request in order for such Affected Lender to comply with the EU Retention Requirements; 

(ii) promptly on becoming aware of the occurrence thereof, written notice of (x) any failure by the Retention Holder to
hold the Retained Interest in accordance with paragraph (a) of the Retention Letter; or (y) any failure by the Retention Holder to comply with any of its undertakings under paragraphs (b), (c), (e), (g) or (h) of Section 3 of the
Retention Letter; 
 (iii) on a monthly basis in each Collateral Report, a confirmation of continued compliance with the
requirements set forth in the Retention Letter; and 
 (iv) upon any written request therefor by or on behalf of the Borrower
or any Affected Lender delivered as a result of a material change in (x) the performance of the Loans, (y) the risk characteristics of the transaction or (z) the Collateral Loans and/or the Eligible Investments from time to time, a
certificate from an Authorized Officer of the Retention Holder confirming continued compliance with the requirements set forth in the Retention Letter; 

(m) within five Business Days of the receipt thereof, copies of any letters received from S&P in respect of credit estimates; 

(n) with respect to DIP Loans and Collateral Loans with an S&P Rating of “CCC-”,
promptly upon becoming aware thereof, any information that may have a material adverse impact on the quality of such asset (as determined by the Services Provider using its reasonable business judgment); and 

(o) within five Business Days of the receipt thereof, written notice of the occurrence of an event that would permit the termination of the
Corporate Services Agreement, or the replacement of the Services Provider under the Corporate Services Agreement. 
 Documents required to
be delivered pursuant to Sections 5.1(c) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered
on the date on which (i) Parent posts such documents, or provides a link thereto, on the Parent’s website on the Internet at the website address located at https://owlrock.com/overview-orcc/; or (ii) such documents are

  
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posted on Parent’s behalf on an internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial or
third-party website); provided that the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests such paper copies; 

Section 5.2 Payment of Obligations. The Borrower will pay and discharge, at or before maturity, all its respective material
obligations and liabilities, including, without limitation, any obligation pursuant to any agreement by which it or any of its properties or assets is bound and any material Tax liabilities, except where such liabilities may be contested in good
faith by appropriate proceedings, and will maintain in accordance with GAAP appropriate reserves for the accrual of any of the same. 

Section 5.3 Employees. The Borrower shall not have any employees (other than its directors and managers to the extent they are
employees). 
 Section 5.4 Good Standing. The Borrower will remain qualified to do business and in good standing (as applicable)
in its jurisdiction of formation and every other jurisdiction in which the nature of its businesses so requires, except where the failure to be so qualified and in good standing would not reasonably be expected to have a Material Adverse Effect.

 Section 5.5 Compliance with Laws. The Borrower will comply in all material respects with all Applicable Law except where the
necessity of compliance therewith is contested in good faith by appropriate proceedings. 
 Section 5.6 Inspection of Property,
Books and Records; Audits; Etc. 
 (a) The Borrower will keep proper books of record and accounts in which full, true and correct
entries in all respects in accordance with GAAP shall be made of all financial matters and transactions in relation to its business and activities, and will permit representatives of the Administrative Agent and the Collateral Agent (in each case at
the Borrower’s expense, in the case of not more than one inspection during any fiscal year except during the continuance of an Event of Default) to visit and inspect any of its properties, to examine and make abstracts from any of its books and
records, to examine and make copies of the Related Contracts (and to discuss its affairs, finances and accounts with its officers, employees and independent public accountants, all at reasonable times in a manner so as to not unduly disrupt the
business of the Borrower, upon reasonable prior notice to the Borrower and as often as may reasonably be desired; provided that any expenses incurred by the Borrower hereunder shall be reasonable and documented. 

(b) If requested by the Majority Lenders, the Borrower agrees that representatives of the Majority Lenders (or an independent third-party auditing firm selected by the Majority Lenders) may (at the Borrower’s expense) conduct an audit and/or field examination of the Borrower and the Services Provider, at reasonable times in a manner
so as to not unduly disrupt the business of the Borrower or the Services Provider, for the purpose of examining the servicing and administration of the Collateral Loans, the results of which audit and/or field examination shall be promptly provided
to the Lenders; provided that, so long as no Event of Default exists, no more than one such audit or field examination shall be conducted during any fiscal year of the Borrower and any expenses incurred in the course of such audit and/or
field examination shall be reasonable and documented. 

  
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 (c) If requested by the Administrative Agent or the Majority Lenders, the Borrower and the
Services Provider shall participate in a meeting with the Administrative Agent and the Lenders once during each fiscal year of the Borrower, to be held at a location in New York City and at a time reasonably determined by the Borrower and the
Services Provider. 
 Section 5.7 Existence. The Borrower shall do or cause to be done, all things necessary to preserve and
keep in full force and effect its existence, its material rights and its material privileges, obligations, licenses and franchises. 

Section 5.8 Subsidiaries; Equity Interest. The Borrower shall not directly or indirectly own any Subsidiaries or any Equity
Interest in any entity other than as otherwise permitted pursuant to Section 4.17. 
 Section 5.9
Investments. 
 (a) The Borrower shall not make any investment other than in Collateral Loans or Eligible Investments;
provided that the Borrower may own Defaulted Loans and other Collateral only as permitted by the terms of this Agreement. The Borrower shall not acquire any debt obligation unless, at the time of the commitment to acquire such debt
obligation, the Eligibility Criteria are satisfied with respect to the debt obligations so acquired. The Borrower shall not acquire or fund any debt obligations after the Reinvestment Period except for (i) the funding of Exposure Amounts of
Revolving Collateral Loans and Delayed Funding Loans that were acquired by the Borrower prior to the end of the Reinvestment Period and (ii) the acquisition by the Borrower, of a Collateral Loan where the commitment to make such acquisition was
made prior to the end of the Reinvestment Period, so long as such commitment provided for settlement in accordance with customary procedures in the relevant markets, but in any event for a settlement period no longer than three months following the
date of such commitment. 
 (b) The Borrower shall not at any time obtain or maintain title to any real property or obtain or maintain a
controlling interest in an entity that owns any real property. 
 (c) Reserved. 

(d) The Borrower shall not commit to acquire any Collateral Loan if such acquisition would be in contravention of the terms of this Agreement,
the Sale and Contribution Agreement, the Retention Letter or any other Loan Document. 
 Section 5.10 Restriction on Fundamental
Changes. 
 (a) The Borrower shall not enter into any merger, consolidation, division or other reorganization, unless permitted by
Applicable Law and unless: (i) the Majority Lenders have provided their prior written consent to such merger, consolidation, division or other reorganization; (ii) the Borrower shall be the surviving entity; (iii) S&P shall have
been notified in writing of such merger, consolidation, division or other reorganization and the Rating Condition is satisfied with respect to such merger, consolidation, division or other reorganization;

  
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(iv) immediately after giving effect to such transaction, no Default shall have occurred and be continuing; (v) the Borrower shall have delivered to each Agent and each Lender a
certificate of an Authorized Officer of the Borrower stating that (1) such merger, consolidation, division or other reorganization complies with this Section 5.10(a), (2) all conditions precedent in this
Section 5.10(a) relating to such transaction have been complied with and (3) such transaction shall not cause the Borrower or the pool of Collateral to be required to register as an “investment company” under
the Investment Company Act; and (vi) the fees, costs and expenses of the Agents (including any reasonable legal fees and expenses) associated with the matters addressed in this Section 5.10 shall have been paid by the
Borrower or otherwise provided for to the satisfaction of the Agents. 
 (b) The Borrower shall not liquidate, wind-up or dissolve (or suffer any liquidation or dissolution), discontinue its business or convey, lease, sell, transfer or otherwise dispose of, including by way of division or any disposition of property to any
Delaware LLC formed upon the consummation of a Delaware LLC Division, in one transaction or series of transactions, all or any part of its business or property, whether now or hereafter acquired, except for transfers of its property
expressly permitted by the Loan Documents. 
 (c) The Borrower shall not amend its Constituent Documents without prior written notice to
S&P and the Administrative Agent and, in the case of amendments that would reasonably be expected to affect the Lenders or the Administrative Agent, the Administrative Agent’s prior written consent. 

Section 5.11 ERISA. The Borrower shall not establish any Plan or Multiemployer Plan. 

Section 5.12 Liens. The Borrower shall not at any time directly or indirectly create, incur, assume or permit to exist, on any of
its property, any Lien for borrowed monies or any other Lien except for Permitted Liens. 
 Section 5.13 Business Activities.
The Borrower shall not engage in any business activity other than (i) the acquisition, selling and maintenance of Collateral Loans and the ownership of equity interests permitted hereby and (ii) any other activities expressly permitted by,
contemplated by or reasonably ancillary to this Agreement and the other Loan Documents (including any collateralized loan obligation transaction referred to in any letter agreement between the Borrower and Société
Générale). 
 Section 5.14 Fiscal Year; Fiscal Quarter. The Borrower shall not change its fiscal year or any of
its fiscal quarters, without the Administrative Agent’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. 

Section 5.15 Anti-Money Laundering and
Anti-Corruption Laws; Sanctions Laws. No portion of the proceeds of any Loan will be used, directly or, to the Borrower’s knowledge, indirectly, (a) in violation of Anti-Corruption Laws or
Anti-Money Laundering Laws, or (b) for any payment, promise to pay, or authorization of any payment (or giving of anything of value) to any governmental official or employee, political party, official of a political party, candidate for
political office or anyone else acting in an official capacity, in order to obtain, retain 

  
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or direct business, or obtain any improper advantage, in violation of Anti-Corruption Laws. The Borrower shall not request any Loan, and shall not (and shall procure that its Affiliates and its
or their respective directors, officers, employees and agents shall not) use the proceeds of any Loan, in each case, directly or indirectly, for (1) the purpose of funding, financing or facilitating any activities, business or transaction of or
with any Sanctioned Person, or in any country that is the subject of country-wide or territory-wide Sanctions, in violation of Sanctions or (2) in any manner that would result in the violation of any applicable Sanctions by any party to this
Agreement. 
 Section 5.16 Indebtedness. The Borrower shall not incur or suffer to exist any Indebtedness other than the
Obligations and involuntarily incurred Contingent Obligations, which would not reasonably be expected to have a Material Adverse Effect and which the Borrower shall use commercially reasonable efforts to promptly resolve. 

Section 5.17 Use of Proceeds. The Borrower shall use the proceeds of the Loans solely (a) for the acquisition of Collateral
Loans during the Reinvestment Period (and after the Reinvestment Period only for the acquisition of Collateral Loans committed to during the Reinvestment Period, subject to Section 5.9), (b) to fund Exposure Amounts,
(c) to pay fees and expenses incurred with the closing and execution of this Agreement and the other Loan Documents and/or (d) to make a Permitted Parent Distribution. 

Section 5.18 Bankruptcy Remoteness; Separateness. 

(a) Limited Purpose Entity. 

(i) The Borrower at all times since its formation has been, and will continue to be, a limited liability company formed under the laws of the
state of Delaware. The Borrower at all times since its formation has been, and will continue to be, duly qualified in its jurisdiction of formation and each other jurisdiction in which such qualification was or may be necessary for the conduct of
its business, except where the failure to be so qualified in any jurisdiction would not reasonably be expected to have a Material Adverse Effect; 

(ii) the Borrower at all times since its formation has complied, and will continue to comply, with its Constituent Documents and the laws of
the jurisdiction of its incorporation relating to companies formed with limited liability under the laws of the state of Delaware; 
 (iii)
all customary formalities regarding the existence of the Borrower have been observed at all times since its formation and will continue to be observed; 

(iv) the Borrower has been adequately capitalized at all times since its formation and will continue to be adequately capitalized in light of
the nature of its business; and 
 (v) the Borrower has not any time since its formation assumed or guaranteed, and will not assume or
guarantee, the liabilities of any other Persons (other than any (A) reimbursement obligation or indemnity in favor of its officers or directors; provided that any such reimbursement obligation or indemnity shall be subject to the
Priority of Payments (B) the assumption of the obligations in connection with the ordinary course purchase, sale or receipt as a contribution of Collateral Loans). 

  
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 (b) No Bankruptcy Filing. The Borrower is not contemplating either the filing of a
petition by it under any state or federal bankruptcy or insolvency laws of any jurisdiction or the liquidation of all or a major portion of its assets or property, and it has no knowledge of any Person contemplating the filing of any such petition
against it. 
 (c) Separate Existence. 

(i) At all times since its formation, the Borrower has accurately maintained, and will continue to accurately maintain, in all
material respects, its financial statements, accounting records and other corporate documents, as applicable, separate from those of the Services Provider and any other Person; provided, however, that if the Borrower prepares
consolidated financial statements with any Affiliates, (y) any such consolidated financial statements shall contain a note indicating the Borrower’s separateness from any such Affiliates and indicate its assets are not available to pay the
debts of such Affiliate or any other Person and (z) if the Borrower prepares its own separate balance sheet, such assets shall also be listed on the Borrower’s own separate balance sheet. Subject to Section 5.27,
the Borrower has not at any time since its formation commingled, and will not commingle, its assets with those of the Services Provider or any other Person. The Borrower has at all times since its formation accurately maintained, in all material
respects, and will continue to accurately maintain in all material respects, its own bank accounts and separate books of account. 

(ii) The Borrower has at all times since its formation paid, and will continue to pay, its own liabilities from its own
separate assets. 
 (iii) The Borrower has at all times since its formation identified itself, and will continue to identify
itself, in all dealings with the public, under its own name and as a separate and distinct entity. The Borrower has not at any time since its formation identified itself, and will not identify itself, as being a division or a part of any other
entity (other than for U.S. federal and state tax and consolidated accounting purposes). 
 (d) The Borrower will comply at all times
with the provisions of its Constituent Documents relating to separateness, bankruptcy remoteness and any similar provisions. 

Section 5.19 Amendments, Modifications and Waivers to Collateral Loans. 

(a) In the performance of its obligations hereunder, the Borrower may enter into any amendment or waiver of or supplement to any Related
Contract; provided that (1) the prior written consent of the Majority Lenders to any such amendment, waiver or supplement shall be required if (i) an Event of Default has occurred and is continuing or would result from such
amendment, waiver or supplement, (ii) such amendment, waiver or supplement, individually or together with all other such amendments, waivers and/or supplements, would result in a Material Adverse Effect or (iii) such amendment, waiver or
supplement constitutes a Specified Change; provided that (A) in the case of clauses (ii) and (iii) above, if the Borrower notifies the Administrative Agent of the proposed amendment, waiver or supplement and the Administrative

  
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Agent (at the direction of the Majority Lenders) does not object within 15 Business Days after written notice thereof is provided to the Administrative Agent, the proposed amendment, waiver or
supplement will be deemed to have been consented to by the Administrative Agent (at the direction of the Majority Lenders) and (B) in the case of clause (iii) above, during the Reinvestment Period such prior written consent shall not be
required if (x) the relevant Collateral Loan after giving effect to the Specified Change would be eligible to be acquired by the Borrower (without regard to the Concentration Limitations) in accordance with the terms of this Agreement
and no Default shall have occurred and be continuing. 
 (b) Any Collateral Loan that, as a result of any amendment, waiver or
supplement thereto, ceases to qualify as a Collateral Loan, will thereafter be deemed to be a Defaulted Loan for so long as it remains unqualified to be a Collateral Loan by the terms of this Agreement. 

(c) In the event that the Borrower enters into any amendment or waiver of or supplement to a Collateral Loan that is not consented to by the
Majority Lenders and such amendment, waiver or supplement results in the failure of the Maximum Weighted Average Life Test (but would otherwise qualify as a Collateral Loan), such Collateral Loan will thereafter be treated as a Defaulted Loan
hereunder until such time as the Maximum Weighted Average Life Test is satisfied (provided that if, at the time of such satisfaction of the Maximum Weighted Average Life Test, such Collateral Loan would otherwise be considered a Defaulted
Loan in accordance with the terms of this Agreement (including clause (b) above), such Collateral Loan will continue to be treated as a Defaulted Loan hereunder until such Collateral Loan is no longer considered a Defaulted Loan in accordance
with the terms of this Agreement (including clause (b) above)). 
 (d) In the event that the Borrower enters into any amendment or
waiver of or supplement to a Collateral Loan that constitutes a Specified Change described in clause (b) of the definition thereof), the Borrower (or the Services Provider on behalf of the Borrower) shall notify S&P and provide available
Required S&P Credit Estimate Information and any other available information S&P reasonably requests with respect thereto via email to CreditEstimates@spglobal. 

Section 5.20 Hedging. 

(a) The Borrower may, at any time and from time to time, enter into any Interest Hedge Agreements (subject in each case to the prior written
consent of the Majority Lenders and with notice to S&P of such Interest Hedge Agreement). The Borrower will not amend or replace any Interest Hedge Agreement unless the Rating Condition shall have been satisfied in connection with such amendment
or replacement and the Majority Lenders have provided their prior written consent thereto. The Borrower (or the Services Provider on behalf of the Borrower) shall promptly provide written notice of entry into, and the amendment or replacement of,
any Interest Hedge Agreement to the Agents and the Lenders. Notwithstanding anything to the contrary contained herein, the Borrower (or the Services Provider on behalf of the Borrower) shall not enter into any Interest Hedge Agreement
(A) unless it obtains written advice of counsel that (1) the written terms of the derivative directly relate to the Collateral Loans and (2) such derivative reduces the interest rate and/or foreign exchange risks related to the
Collateral Loans and the Loans and (B) that would cause the Borrower to be considered a “commodity pool” as defined in Section 1a(10) of the 

  
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Commodity Exchange Act unless (i) the Services Provider, and no other party, including but not limited to the Collateral Agent, the Custodian and the Administrative Agent, is registered as a
“commodity pool operator” as defined in Section 1(a)(11) of the Commodity Exchange Act and “commodity trading advisor” as defined in Section 1(a)(12) of the Commodity Exchange Act with the CFTC or (ii) with respect
to the Borrower as the commodity pool, the Services Provider would be eligible for an exemption from registration as a commodity pool operator and commodity trading advisor and all conditions for obtaining the exemption have been satisfied. The
Services Provider agrees that for so long as the Borrower is a commodity pool, the Services Provider will take all actions necessary to ensure ongoing compliance with, as the case may be, either (x) the applicable exemption from registration as
a commodity pool operator and/or a commodity trading advisor with respect to the Borrower or (y) the applicable registration requirements as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower, and will in
each case take any other actions required as a commodity pool operator and/or a commodity trading advisor with respect to the Borrower. 

(b) Each Interest Hedge Agreement shall contain appropriate limited recourse and non-petition
provisions equivalent (mutatis mutandis) to those contained in Section 12.15. Each Interest Hedge Counterparty shall be required to satisfy, at the time that any Interest Hedge Agreement to which it is a party is entered
into, the then-current S&P criteria for hedge counterparties with respect to any Interest Hedge Agreements shall be subject to the Priority of Payments specified in Section 9.1(a)
and Section 6.4. Each Interest Hedge Agreement shall contain an acknowledgement by the Interest Hedge Counterparty that the obligations of the Borrower to the Interest Hedge Counterparty under the relevant Interest Hedge
Agreement shall be payable in accordance with the Priority of Payments specified in Section 9.1(a) and Section 6.4 and the Borrower shall use its commercially reasonable efforts to provide that it
may not be terminated due to the occurrence of an Event of Default until liquidation of the Collateral has commenced. 
 Section 5.21
Title Covenants. The Borrower covenants that at no time shall it: 
 (a) create, permit or suffer to be created any Lien or security
interest in the Collateral other than Permitted Liens; or 
 (b) except as otherwise expressly permitted herein sell, transfer, assign,
deliver or otherwise dispose of any Collateral or any interest therein. 
 The Borrower further covenants and agrees to defend the
Collateral against the claims and demands of all other parties to the extent necessary to preserve the first-priority security interest of the Collateral Agent, for the benefit of itself and the Secured
Parties, in the Collateral (subject to Permitted Liens). 
 Section 5.22 Further Assurances. 

(a) The Borrower shall at its sole expense file, record, make, execute and deliver all such notices, instruments, statements and other
documents, and take such acts, as the Collateral Agent (acting at the direction of the Administrative Agent) may reasonably request from time to time to register in the name of the Collateral Agent or its nominee, and to perfect, preserve

  
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or otherwise protect the security interest of the Collateral Agent, for the benefit of the Secured Parties in, the Collateral or any part thereof, or to give effect to the rights, powers and
remedies of the Collateral Agent hereunder, including but not limited to execution and delivery of financing statements. The Borrower shall be obligated to perform its obligations under this Agreement notwithstanding the ability of the Collateral
Agent to take such actions pursuant to the provisions of Section 5.24. 
 (b) Not earlier than six months and not
later than the June 1 prior to the fifth anniversary of the date of filing of the UCC-1 financing statement referred to in Section 8.7, unless the Obligations have been paid in
full, the Borrower shall furnish to the Collateral Agent an opinion of counsel to the effect that, in the opinion of such counsel, as of the date of such opinion, the lien and security interest created by this Agreement with respect to the
Collateral remains a valid and perfected first priority lien in favor of the Collateral Agent for the benefit of the Secured Parties, which opinion may contain usual and customary assumptions, limitations and exceptions. 

Section 5.23 Costs of Transfer Taxes and Expenses. 

(a) The Borrower shall pay or cause to be paid all transfer Taxes and other costs incurred in connection with all transfers of Collateral. For
the avoidance of doubt, any amounts paid pursuant to this Section 5.23(a) shall not be indemnifiable pursuant to Section 11.4. 

(b) Without duplication of any other provision of this Agreement, the Borrower agrees to pay the Collateral Agent the reasonable and
documented out-of-pocket costs and expenses, including but not limited to reasonable and documented attorneys’ fees and other charges, incurred by the Collateral
Agent in connection with making collections on any Collateral. 
 Section 5.24 Collateral Agent May Perform. 

(a) If the Borrower fails to perform any agreement contained herein to be performed by it, the Collateral Agent may, upon the written
instructions of the Administrative Agent or the Majority Lenders, itself file, record, make, execute and deliver all such notices, instruments, statements and other documents, and take such acts, as the Majority Lenders may determine to be necessary
or desirable from time to time to perfect, preserve or otherwise protect the security interest of the Collateral Agent, for the benefit of itself and the Secured Parties and otherwise perform, or cause performance of, any other such actions as the
Majority Lenders shall determine is necessary or desirable, and the reasonable fees and out-of-pocket expenses of the Collateral Agent and Lenders incurred in connection
therewith shall be payable by the Borrower and shall be part of the Obligations. 
 (b) The powers conferred on the Collateral Agent
hereunder are solely to protect its interest (on behalf of the Secured Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for
moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral or responsibility for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters
relative to any Collateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (ii) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

  
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 Section 5.25 Notice of Name Change. The Borrower shall give the Agents and
S&P not less than 30 days’ notice of any change of its name and not less than 30 days’ notice of any change of its principal place of business and will take all steps necessary to preserve the first priority perfected
security interest of the Collateral Agent, for the benefit of itself and the Secured Parties, in the Collateral. The Borrower shall not change its type of organization, jurisdiction of organization or other legal structure without the prior written
consent of the Administrative Agent. 
 Section 5.26 Delivery of Related Contracts. The Borrower (or the Services Provider on
behalf of the Borrower) shall deliver copies of all Related Contracts in its possession to the Document Custodian within five Business Days of the Borrower’s acquisition of the related Collateral Loan. 

Section 5.27 Delivery of Proceeds. In the event that the Borrower receives any payments in respect of or other proceeds of
Collateral Loans or other Collateral or any capital contribution, the Borrower shall pay such payments or other proceeds to the Collateral Agent promptly and, in no event, later than two Business Days after the Borrower’s receipt thereof. 

Section 5.28 Performance of Obligations. The Borrower shall timely and fully comply with and perform in all material respects its
obligations under the Collateral Loans and other Collateral in accordance with the terms thereof. 
 Section 5.29 Limitation on
Dividends. The Borrower will not declare or make any direct or indirect distribution, dividend or other payment to any person on account of any Equity Interests in, or ownership of any similar interests or securities of the Borrower, except for
Permitted Distributions and Permitted Parent Distributions. 
 Section 5.30 Renewal of Credit Estimates. For each Collateral
Loan with a credit estimate provided by a Rating Agency, the Borrower shall submit such Required S&P Credit Estimate Information as is required by such Rating Agency to renew such credit estimate within the 12 month period following receipt
of the most recent credit estimate provided by such Rating Agency for such Collateral Loan. 
 Section 5.31 Annual Rating
Review. On or before the anniversary date of the Closing Date in each calendar year, or the last Business Day immediately preceding such date if such date is not a Business Day, the Borrower shall pay for the ongoing monitoring of the rating of
the Loans by S&P. The Borrower shall promptly notify the Agents, the Services Provider and the Lenders in writing if at any time the rating of the Loans has been, or to the knowledge of a Senior Authorized Officer will be, changed or withdrawn,
or the rating outlook on the Loans has been, or to the knowledge of a Senior Authorized Officer will be, changed. 
 Section 5.32
Amendment to Loan Documents. The Borrower shall not amend any of the Loan Documents except pursuant to the applicable terms thereof and Section 12.5 of this Agreement. 

  
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 Section 5.33 Transactions With Affiliates. Except as may be otherwise required
or permitted by the Sale and Contribution Agreement, the Borrower shall not sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates unless (i) the terms and conditions of any such transaction are no less favorable to the Borrower than the terms it would obtain in a comparable, timely transaction with a
non-Affiliate, (ii) such transaction is effected in accordance with all Applicable Law, (iii) such transaction is conducted in an arm’s length transaction in the ordinary course of business and
(iv) in the case of the sale of any Collateral Loan, the sale price is not less than the Market Value with respect to such Collateral Loan (provided that Market Value shall not be determined pursuant to clause (d) or (e) of the
definition thereof). The Borrower shall ensure that all purchases of Collateral Loans from any Affiliate of the Borrower will be pursuant to and in accordance with the Sale and Contribution Agreement. This Section 5.33
shall not require the Seller or any Affiliate of the Borrower to purchase from the Borrower or sell or otherwise transfer to the Borrower any property or assets except as provided by the Sale and Contribution Agreement. 

Section 5.34 Reports by Independent Accountants. 

(a) On or after the Closing Date, the Borrower (or the Services Provider on behalf of the Borrower) shall select one or more nationally
recognized firms of independent certified public accountants for purposes of performing agreed-upon procedures required by this Agreement, which may be the firm of independent certified public accountants that
performs accounting services for the Borrower or the Services Provider. The Borrower may remove any firm of independent certified public accountants at any time. Upon any resignation by such firm or removal of such firm by the Borrower, the Borrower
(or the Services Provider on behalf of the Borrower) shall promptly appoint a successor thereto that shall also be a nationally recognized firm of independent certified public accountants, which may be a firm of independent certified public
accountants that performs accounting services for the Borrower or the Services Provider. If the Borrower shall fail to appoint a successor to a firm of independent certified public accountants which has resigned or has been removed within
30 days after such resignation or removal (as applicable), the Borrower shall promptly notify the Agents and the Services Provider of such failure in writing. If the Borrower shall not have appointed a successor within ten days thereafter, the
Services Provider shall appoint a successor firm of independent certified public accountants of nationally recognized reputation. The fees of such firm of independent certified public accountants and its successor shall be payable by the Borrower as
Administrative Expenses in accordance with the Priority of Payments and the terms of this Agreement. In the event such firm requires the Collateral Agent to agree (whether in writing or otherwise) to the procedures performed by such firm, the
Borrower hereby directs the Collateral Agent to so agree and directs the Collateral Agent to execute a specified user agreement, access letter or agreement of similar import requested by such accountants, which may include among other things,
(i) acknowledgement that the Borrower has agreed that the procedures to be performed by such accountants are sufficient for the Borrower’s purposes, (ii) releases by the Collateral Agent (on behalf of itself and the Lenders and
Administrative Agent) of claims against the firm and acknowledgement of other limitations of liability in favor of the firm and (iii) restrictions or prohibitions on the disclosure of information or documents provided to it by such firm
(including to the Lenders and Administrative Agent). It is understood and agreed that the Collateral Agent will deliver such letters of agreement and similar documents in conclusive reliance on the 

  
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foregoing direction of the Borrower. The Collateral Agent shall not have any responsibility to the Borrower or any Secured Party hereunder to make any inquiry or investigation as to, and shall
have no obligation, liability or responsibility in respect of, the terms of any engagement of any such firm, or the validity or correctness of such procedures or content of such letter (including without limitation with respect to the sufficiency
thereof for any purpose), any report or instruction (or other information or documents) prepared or delivered by any such accountants pursuant to any such engagement. In no event shall the Collateral Agent be required to execute any agreement in
respect of the accountants that it reasonably determines adversely affects it. For the avoidance of doubt, any costs, fees or expenses incurred by the Collateral Agent in connection with this Section 5.34(a) shall be
payable by the Borrower as Administrative Expenses in accordance with the Priority of Payments and the terms of this Agreement. 
 (b) On or
before the date that is 120 days following the end of each fiscal year of the Borrower, or the last Business Day immediately preceding such date if such date is not a Business Day, commencing in 2019, the Borrower shall cause to be delivered to
the Collateral Agent an agreed-upon procedures report from a firm of independent certified public accountants appointed pursuant to clause (a) above for each Payment Date Report occurring in May and
November of the prior calendar year (i) indicating that the calculations within those Payment Date Reports have been recalculated and compared to the information provided by the Borrower in accordance with the applicable provisions of this
Agreement and (ii) listing the Aggregate Principal Balance of the Collateral Loans securing the Loans as of the immediately preceding Measurement Dates; provided that in the event of a conflict between such firm of independent certified
public accountants and the Borrower with respect to any matter in this Section 5.34, the determination by such firm of independent public accountants shall be conclusive; provided further that, if there is any
inconsistency between the calculations of the Borrower and the calculations of the firm of independent certified public accountants, the Borrower shall promptly notify the Agents and the Lenders and describe such inconsistency in reasonable detail.
Notwithstanding anything to the contrary herein, if the Custodian, Administrative Agent, the Collateral Administrator or Collateral Agent fail within 75 days following the end of each fiscal year of the Borrower to execute any documentation
required by the independent certified public accountants selected by the Borrower prior to the delivery of any report contemplated by this Section 5.34(b), then the Borrower shall have no obligation to furnish any report
covering such fiscal year pursuant to this Section 5.34(b). 
 Section 5.35 Tax Matters as to the
Borrower. 
 (a) The Borrower shall (and each Lender hereby agrees to) treat the Loans as debt for U.S. federal income tax purposes
and will take no contrary position unless otherwise required by an applicable taxing authority. 
 (b) The Borrower has not and shall not at
any time make any election to be treated, for U.S. federal income tax purposes, as other than either (i) an entity disregarded as separate from a sole owner, or (ii) a partnership (other than a publicly traded partnership taxable as a
corporation). 
 (c) Each of the parties hereto shall provide to the Borrower, upon reasonable request, all reasonably available information
relating only to such party itself that is in the possession of such party, in its respective capacity hereunder, that is specifically requested by the Borrower and that is necessary or advisable in order for the Borrower to achieve Tax Account
Reporting Rules Compliance. 

  
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 (d) On or prior to the Closing Date, the Borrower will deliver or cause to be delivered an
IRS Form W-8IMY (with all required attachments) of the Borrower (if the Borrower is treated as a partnership for U.S. federal income tax purposes) or an IRS
Form W-9 or the applicable Form W-8, in each case, from its sole owner (if the Borrower is treated as an entity disregarded as separate from its sole owner for
U.S. federal income tax purposes), or successor applicable form to each issuer, counterparty, paying agent, as necessary to permit the Borrower to receive payments without U.S. withholding tax. 

(e) Subject to the satisfaction of the Eligibility Criteria, no more than 50% of the debt obligations or interests therein (in each case as
determined for U.S. federal income tax purposes) held by the Borrower may at any time consist of real estate mortgages (or interests therein) as determined for purposes of Section 7701(i) of the Code, unless the Borrower receives an
opinion of nationally recognized tax counsel experienced in such matters to the effect that the ownership of such debt obligations will not cause the Borrower to be treated as a taxable mortgage pool for U.S. federal income tax purposes. 

Section 5.36 Retention Letter. The Borrower shall (i) procure the Retention Holder not to amend, supplement, modify,
repudiate or waive any provision, of any Retention Letter without the prior written consent of the Administrative Agent and each Affected Lender and (ii) procure that the Retention Holder has not changed and will not change the manner in which
it retains the Retained Interest (as defined in the Retention Letter), except to the extent permitted by the EU Retention Requirements and with the prior written consent of the Administrative Agent and each Affected Lender. 

Section 5.37 Pool Concentrations. During the Reinvestment Period the Borrower shall use commercially reasonable efforts to ensure
that the pool of Collateral contains Collateral Loans of no less than 20 different Obligors. 
 Section 5.38 Beneficial Ownership
Certification. If the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, the Borrower agrees to notify the Administrative Agent of any change in the information provided in the Beneficial
Ownership Certification that would result in a change to the list of beneficial owners identified in parts (c) or (d) of such certification. 

Section 5.39 Post-Transition S&P CCC Collateral Loans. On the date that any debt obligation becomes a Post-Transition S&P
CCC Collateral Loan, the existence of any CCC Excess and the amount of any associated CCC Excess Adjustment Amount shall be re-measured. 

  
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 ARTICLE VI 

EVENTS OF DEFAULT 

Section 6.1 Events of Default. The term “Event of Default” shall mean any of the events set forth in this
Section 6.1: 
 (a) a default in the payment, when due and payable, of any interest, fees, costs, expenses,
indemnities or other amounts (other than principal) due on any Loan or any related obligations in respect thereof and the continuation of such default for five Business Days after the date such amounts become due and payable if such date is provided
in this Agreement or the applicable Loan Document (or, if no such date is provided or such amount is not fixed, five Business Days after notice shall have been given to the Borrower by the Majority Lenders, the intended recipient of such amounts or
the Administrative Agent, specifying such amount that has become due and payable); provided that in the case of a failure to pay due to an administrative error or omission by the Collateral Agent, such failure continues for five Business Days
after the Collateral Agent receives written notice or has actual knowledge of such administrative error or omission and has provided notice of such failure to the Borrower; 

(b) a default in the payment of any principal due on any Loans when such principal becomes due and payable (x) on the Stated Maturity or
(y) as otherwise provided for in any Loan Document; provided that, solely in the case of clause (y), in the case of a failure to pay due to an administrative error or omission by the Collateral Agent, such failure continues for five
Business Days after the Collateral Agent receives written notice or has actual knowledge of such administrative error or omission and has provided notice of such failure to the Borrower; 

(c) the failure on any Quarterly Payment Date to disburse amounts available in the Payment Account or Collection Account in accordance with
the Priority of Payments and continuation of such failure for a period of five Business Days or, in the case of a failure to disburse due to an administrative error or omission by any Agent, such failure continues for five Business Days after such
Agent receives written notice or has actual knowledge of such administrative error or omission and has provided notice of such failure to the Borrower; 

(d) the Borrower or the pool of Collateral becomes an investment company required to be registered under the Investment Company Act; 

(e) the occurrence of any one or more of the following: 

(i) failure of any representation or warranty in Section 4.9 or 4.12 to be correct in all
material respects when made, or default in the performance, or breach, of any covenant contained in Section 5.1(e)(i), 5.9 (excluding, on two occasions, in the case of clauses 5.9(a) and (c), a default or
breach resulting from a good faith error so long as such default or breach is cured within three Business Days), 5.10, 5.11, 5.12, 5.13, 5.14, 5.15, 5.16, 5.18(a)(v), 5.19(a)(1)(i) or
5.19(a)(1)(iii) (provided that a default or breach under Sections 5.19(a)(1)(i) or (iii) will not be an Event of Default if, treating the applicable Collateral Loan as a Defaulted Loan, the
Borrower would be in compliance with the Collateral Quality Tests and the Coverage Tests); 

  
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 (ii) a default in the performance, or breach, of any covenant contained in
Section 5.1(e)(ii), 5.1(e)(iii), 5.18(a)(i), (ii) or (iii) or 5.19(a)(1)(ii) (provided that a default or breach under Section 5.19(a)(1)(ii) will
not be an Event of Default if, treating the applicable Collateral Loan as a Defaulted Loan, the Borrower would be in compliance with the Collateral Quality Tests and the Coverage Tests) and such default continues for a period of five Business Days
after the earlier to occur of (x) the date on which written notice of such default requiring the same to be remedied shall have been given to the Borrower and (y) a Senior Authorized Officer of the Borrower has actual knowledge of such
default; 
 (iii) a default in the performance, or breach, of any covenant contained in
Section 5.18(c) and the Administrative Agent determines based on the advice of counsel that, as a result of such default, a nationally recognized firm would be unable to provide a new non consolidation opinion in form and
substance reasonably satisfactory to the Administrative Agent; 
 (iv) failure of the representation or warranty in
Section 4.4 to be correct in all material respects when made with respect to the Borrower’s obligations under one or more Collateral Loans or other items of Collateral and there has occurred or there would reasonably
be expected to occur a material adverse effect on the rights, interests or remedies of the Agents or the Lenders under any of the Loan Documents; or 

(v) (x) a default in the performance, or breach, of any other covenant, warranty or other agreement of the Borrower or the
Services Provider under this Agreement or any other Loan Document in any material respect or (y) the failure of any representation or warranty of the Borrower or the Services Provider made in this Agreement, any other Loan Document or in any
related certificate or other writing delivered pursuant hereto or thereto or in connection herewith or therewith to be correct when made and such failure would reasonably be expected to have a Material Adverse Effect (other than a covenant,
representation, warranty or other agreement or a portion thereof a default in the performance or breach or failure of which is otherwise specifically dealt with in this Section 6.1, it being understood, without limiting the
generality of the foregoing, that any failure to meet any Concentration Limitation, Collateral Quality Test or Coverage Test (except as provided in clause (h) below) is not an Event of Default), and such default, breach or failure either
(A) is not susceptible of cure or (B) continues for a period of 30 days following the notice to the Borrower or the date on which a Senior Authorized Officer of the Borrower obtains actual knowledge of such default; provided,
that no breach shall be deemed to occur hereunder in respect of any representation or warranty relating to the “eligibility” of any Collateral Loan if either (i) the Borrower complies with its obligations in Section 10.1(d) with
respect to such Collateral Loan or (ii) after giving effect to the resulting change in the Principal Collateralization Amount with respect to such Collateral Loan, the Overcollateralization Ratio Test is satisfied; 

(f) the entry of a decree or order by a court of competent jurisdiction (i) adjudging the Borrower as bankrupt or insolvent,
(ii) approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Borrower under the Bankruptcy Code or any other Applicable Law, (iii) appointing a receiver, liquidator,
assignee, or sequestrator (or other similar official) of the Borrower or of any substantial part of its respective properties or (iv) ordering the winding up or liquidation of the affairs of the Borrower, respectively, and the continuance of
any such decree or order is unstayed and in effect for a period of 60 consecutive days; 

  
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 (g) the institution by the Borrower of proceedings for the Borrower to be adjudicated as
bankrupt or insolvent, or the consent by the Borrower to the institution of bankruptcy or insolvency proceedings against it, or the filing by the Borrower of a petition or answer or consent seeking reorganization or relief under the Bankruptcy Laws
or any other similar Applicable Law, or the consent by the Borrower to the filing of any such petition or to the appointment of a receiver, liquidator, assignee, trustee or sequestrator (or other similar official) of the Borrower of any substantial
part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of any action by the Borrower in furtherance of
any such action; 
 (h) the Overcollateralization Ratio is less than (i) 125% as of any two consecutive Calculation Dates and remains
so for five Business Days after the Quarterly Payment Date immediately following the second such Calculation Date or (ii) 115% as of any Calculation Date, and in each case, remains so for five Business Days after the Quarterly Payment Date
immediately following such Calculation Date; 
 (i) any Lien on any portion (other than a de minimis portion) of the Collateral
created pursuant to the Loan Documents shall, at any time after delivery of the respective Loan Documents, cease to be fully valid and perfected as a first priority Lien subject only to Permitted Liens; 

(j) any of the Loan Documents ceases to be in full force and effect, other than in accordance with its terms; 

(k) one or more judgments or decrees shall be entered against the Borrower involving in the aggregate a liability of $1,000,000 or more, in
excess of the amounts paid or fully covered by insurance and the same shall not have been vacated, satisfied, undischarged, stayed or bonded pending appeal within 30 days from the entry thereof; 

(l) the occurrence of an act by the Services Provider or a senior officer of the Services Provider having responsibility for the performance
by the Borrower of its obligations under the Loan Documents or the performance by the Services Provider of its obligations under the Corporate Services Agreement that constitutes fraud in the performance of its investment management obligations
under this Agreement or the Corporate Services Agreement or that results in a felony criminal indictment; or 
 (m) the occurrence of a
Change in Control. 
 Upon obtaining actual knowledge of the occurrence of an Event of Default, the Borrower shall promptly notify the
Agents, the Services Provider, the Lenders and S&P in writing (which notice shall refer to this Agreement and state that such notice is a notice of an Event of Default). 

  
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 Section 6.2 Remedies. If an Event of Default shall have occurred and be
continuing, the Majority Lenders or the Administrative Agent (acting at the direction of the Majority Lenders) may exercise (or direct the Collateral Agent in the exercise of) the rights, privileges and remedies set forth in this
Section 6.2. 
 (a) Upon the occurrence and during the continuance of any Event of Default, each of the following
actions shall require the prior written approval by the Majority Lenders, whether or not approved by the Borrower’s board of directors or other persons performing similar functions: (i) issuance of any commitment to make, and the
acquisition (other than pursuant to commitments then in effect) of, any Collateral Loan or other loan or security constituting any Collateral or any interest therein, (ii) any amendment, modification, or waiver of, or any consent to departure
from, any term or provision of any Collateral Loan or other loan or security constituting any Collateral, (iii) any release of any collateral for, or guarantor of or other credit support provider for, any Collateral Loan or other loan or
security constituting any Collateral, except upon payment in full of such Collateral Loan or other loan or security or any subordination or limitation of recourse with respect thereto and except as otherwise required pursuant to the terms of the
Related Contracts, (iv) any sale, purchase, assignment or participation in respect of any Collateral Loan or other loan or security constituting any Collateral (other than pursuant to commitments then in effect or in the case of a sale or
assignment upon payment in full of such Collateral Loan or other loan or security), (v) any determination to exercise, or not to exercise, remedies in respect of a Collateral Loan or other loan or security constituting any Collateral following
a default or event of default thereunder and (vi) any other action or decision not to act which impairs or could be reasonably likely to impair the value of any Collateral Loan or other loan or security constituting any Collateral, or to extend
or increase the Borrower’s obligations with respect thereto or to interfere with the exercise of rights or remedies with respect to any Collateral Loan or other loan or security constituting any Collateral. 

(b) Upon the occurrence and during the continuance of any Event of Default, in addition to all rights and remedies specified in this Agreement
and the other Loan Documents, including Section 6.3, and the rights and remedies of a secured party under Applicable Law, including the UCC, the Administrative Agent or the Majority Lenders, by notice to the Borrower, may
(i) declare the Commitments to be terminated forthwith, whereupon the Commitments shall forthwith terminate or (ii) declare the principal of and the accrued interest on the Loans and all other amounts whatsoever payable by the Borrower
hereunder (including any amounts payable under Section 2.8) to be forthwith due and payable, whereupon such amounts shall be immediately due and payable without presentment, demand, protest or other formalities of any kind,
all of which are hereby waived by the Borrower (an “Enforcement Event”); provided that (x) upon the occurrence of any Event of Default described in clause (f) or (g) of Section 6.1,
the Loans and all such other amounts shall automatically become due and payable, without any further action by any party and (y) upon the occurrence of any Event of Default described in clause (l) or (m) of
Section 6.1, the consent of all Lenders shall be required for an Enforcement Event. 
 (c) Upon the occurrence and
during the continuance of an Event of Default, the Majority Lenders or the Collateral Agent (acting at the direction of the Administrative Agent or the Majority Lenders) will have the right to take any other remedies set forth in
Section 6.3(b) below or other remedies permitted by law. 

  
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 Section 6.3 Additional Collateral Provisions. 

(a) Release of Security Interest. If and only if all Obligations under the Loans have been paid in full and all Commitments have been
terminated, the Collateral Agent shall, at the expense of the Borrower, promptly execute, deliver and file or authorize for filing (on behalf of itself and other Secured Parties) such instruments as the Borrower shall reasonably request in order to
reassign, release or terminate the Secured Parties’ security interest in the Collateral. The Secured Parties acknowledge and agree that upon the sale, substitution or disposition of any Collateral by the Borrower in compliance with the terms
and conditions of this Agreement, on the date of any such sale, substitution or other disposition, the Collateral Agent, on behalf of the Secured Parties, shall automatically and without further action be deemed to and hereby does terminate and
release the Secured Parties’ security interest in such Collateral and the Collateral Agent (on behalf of itself and other Secured Parties) shall, at the expense of the Borrower, execute, deliver and file or authorize for filing such instrument
as the Borrower shall reasonably request to reflect or evidence such termination. Any and all actions under this Article VI in respect of the Collateral shall be without any recourse to, or representation or warranty by any
Secured Party and shall be at the sole cost and expense of the Borrower. 
 (b) Additional Rights and Remedies. The Collateral Agent
(for itself and on behalf of the other Secured Parties), acting at the direction of the Majority Lenders, shall have all of the rights and remedies of a secured party under the UCC and other Applicable Law. Upon the occurrence and during the
continuance of an Event of Default, the Collateral Agent or its designees shall, at the direction of the Majority Lenders, to the extent permitted by Applicable Law (including the UCC) and notwithstanding anything in the Loan Documents to the
contrary, (i) instruct the Borrower to deliver any or all of the Collateral, the Related Contracts and any other documents relating to the Collateral to the Collateral Agent or its designees and otherwise give all instructions for the Borrower
regarding the Collateral; (ii) if the Loans have been accelerated in accordance with this Agreement, sell or otherwise dispose of the Collateral, all without judicial process or proceedings; (iii) take control of the proceeds of any such
Collateral; (iv) subject to the provisions of the applicable Related Contracts, exercise any consensual or voting rights in respect of the Collateral; (v) release, make extensions, discharges, exchanges or substitutions for, or surrender
all or any part of the Collateral; (vi) enforce the Borrower’s rights and remedies with respect to the Collateral; (vii) institute and prosecute legal and equitable proceedings to enforce collection of, or realize upon, any of the
Collateral; (viii) require that the Borrower immediately take all actions necessary to cause the liquidation of the Collateral in order to pay all amounts due and payable in respect of the Obligations, in accordance with the terms of the
Related Contracts; (ix) redeem or withdraw or cause the Borrower to redeem or withdraw any asset of the Borrower to pay amounts due and payable in respect of the Obligations; (x) subject to Section 12.16, make
copies of or, if necessary, remove from the Borrower’s and its agents’ place of business all books, records and documents relating to the Collateral; and (xi) endorse the name of the Borrower upon any items of payment relating to the
Collateral or upon any proof of claim in bankruptcy against an account debtor. The Collateral Agent shall provide written notice of any liquidation of the Collateral to S&P. 

  
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 The Collateral Agent shall not be under any duty or obligation to take any affirmative
action to exercise or enforce any power, right or remedy available to it under this Agreement unless and until (and to the extent) at the express direction of the Majority Lenders; provided that the Collateral Agent shall not be required to
take any such action at the direction of the Majority Lenders, any Secured Party or otherwise if the taking of such action, in the reasonable determination of the Collateral Agent, (x) shall be in violation of any Applicable Law or contrary to
any provisions of this Agreement or (y) shall expose the Collateral Agent to liability hereunder (unless it has been provided with an indemnity agreement (including the indemnity provisions contained herein and in the other Loan Documents)
which it reasonably deems to be satisfactory with respect thereto). 
 The Borrower hereby agrees that, upon the occurrence and during the
continuance of an Event of Default, at the reasonable request of the Collateral Agent (acting at the direction of the Majority Lenders or acting directly or through the Administrative Agent) or the Majority Lenders, it shall execute all documents
and agreements which are necessary or appropriate to have the Collateral assigned to the Collateral Agent or its designee. For purposes of taking the actions described in clauses (i) through (xi) of this
Section 6.3(b) and the foregoing sentence the Borrower hereby irrevocably appoints the Collateral Agent as its attorney-in-fact (which
appointment being coupled with an interest and is irrevocable while any of the Obligations remain unpaid and which can be exercised only if such Event of Default is continuing), with power of substitution, in the name of the Collateral Agent or in
the name of the Borrower or otherwise, for the use and benefit of the Collateral Agent, for the benefit of the Secured Parties, but at the cost and expense of the Borrower and, except as permitted by Applicable Law, without notice to the Borrower.

 All documented sums paid or advanced by the Collateral Agent in connection with the foregoing and all documented out-of-pocket costs and expenses (including reasonable and documented attorneys’ fees and expenses) incurred in connection therewith, together with interest thereon at
the Post-Default Rate for the Loans from the date of demand of repayment by the Collateral Agent until repaid in full, shall be paid by the Borrower to the Collateral Agent from time to time on demand in
accordance with the Priority of Payments and shall constitute and become a part of the Obligations secured hereby. 
 Without the prior
written consent of the Majority Lenders, credit bidding by any Lender (or any other Person) in connection with any foreclosure sale hereunder shall not be permitted. 

Notwithstanding any other provision of this Article VI, in connection with the sale of the Collateral following an
acceleration of the Obligations, the Services Provider (or any of its Affiliates) shall have the right (which right, for avoidance of doubt, shall be irrevocably forfeited if not exercised within the specified timeframe) to bid to purchase all or
any portion of the Collateral Loans in the Collateral within five Business Days of its receipt of notice of such acceleration. If such bid is for an amount at least equal to all unpaid Obligations (other than unasserted Contingent Obligations) the
Administrative Agent shall accept such bid. The Administrative Agent may, at the direction of the Majority Lenders, accept a lower bid. If the Administrative Agent accepts such bid, the Services Provider (or any of its Affiliates) shall have the
right (which right, for the avoidance of doubt, shall be irrevocably forfeited if not exercised within the specified timeframe) to purchase all or any portion of the Collateral Loans in the Collateral by paying to the Collateral Agent in immediately
available funds an amount equal to the agreed-upon bid price (which bid price shall not be less than the outstanding Obligations and, without duplication, all unpaid Administrative Expenses); provided
that such purchase shall settle 

  
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within 15 days of the date such notice of bid by Services Provider is received, otherwise such purchase shall not be permitted. Notwithstanding the foregoing purchase rights, if the
Collateral Agent or the Majority Lenders propose to sell the Collateral or any part thereof in one or more parcels at a public or private sale, the Services Provider (or any of its Affiliates) and the Lenders shall have the right to offer bids to
acquire all or any portion of the Collateral sold at such sale. To the extent the Administrative Agent (at the direction of the Majority Lenders) elects to sell any or all Collateral Loans at such public or private sale, such Collateral Loans or any
parcel thereof shall be sold to the party offering the highest bid in immediately available funds. 
 (c) Remedies Cumulative. Each
right, power, and remedy of the Agents and the other Secured Parties, or any of them, as provided for in this Agreement or in the other Loan Documents or now or hereafter existing at law or in equity or by statute or otherwise shall be cumulative
and concurrent and shall be in addition to every other right, power, or remedy provided for in this Agreement or in the other Loan Documents or now or hereafter existing at law or in equity or by statute or otherwise, and the exercise or beginning
of the exercise by the Agents or any other Secured Party of any one or more of such rights, powers, or remedies shall not preclude the simultaneous or later exercise by such Persons of any or all such other rights, powers, or remedies. 

(d) Related Contracts. 

(i) The Borrower hereby agrees that, to the extent not expressly prohibited by the terms of the Related Contracts, after the
occurrence and during the continuance of an Event of Default, it shall (x) upon the written request of the Administrative Agent or the Collateral Agent, promptly forward to such Agent all information and notices which it receives under or in
connection with the Related Contracts relating to the Collateral, subject to applicable confidentiality requirements, and (y) upon the written request of the Administrative Agent or the Collateral Agent, act and refrain from acting in respect
of any request, act, decision or vote under or in connection with the Related Contracts relating to the Collateral only in accordance with the direction of such Agent; provided that if the Borrower receives conflicting requests pursuant to
this subclause (y), it shall follow whichever request is evidenced to be derived from the direction of the Majority Lenders. 

(ii) The Borrower agrees that, to the extent the same shall be in the Borrower’s possession, it will hold all Related
Contracts relating to the Collateral in trust for the Collateral Agent on behalf of the Secured Parties, and upon request of either Agent following the occurrence and during the continuance of an Event of Default or as otherwise provided herein,
promptly deliver the same to the Collateral Agent or its designee. 
 (e) Borrower Remains Liable. 

(i) Notwithstanding anything herein to the contrary, (x) the Borrower shall remain liable under the contracts and
agreements included in and relating to the Collateral (including the Related Contracts) to the extent set forth therein, and shall perform all of its duties and obligations under such contracts and agreements to the same extent as if this Agreement
had not been executed and (y) the exercise by any Secured Party of any of its rights hereunder shall not release the Borrower from any of its duties or obligations under any such contracts or agreements included in the Collateral. 

  
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 (ii) No obligation or liability of the Borrower is intended to be assumed by
either Agent or any other Secured Party under or as a result of this Agreement or the other Loan Documents, and the transactions contemplated hereby and thereby, including under any Related Contract or any other agreement or document that relates to
Collateral and, to the maximum extent permitted under provisions of law, the Agents and the other Secured Parties expressly disclaim any such assumption. 

(f) Protection of Collateral. The Borrower, or the Services Provider on behalf of and at the expense of the Borrower, shall from time
to time execute and deliver all such supplements and amendments hereto and file or authorize the filing of all such UCC-1 financing statements, continuation statements, instruments of further assurance and
other instruments, and shall take such other action as may be necessary or advisable or desirable to secure the rights and remedies of the Lenders hereunder and to: 

(i) grant security more effectively on all or any portion of the Collateral; 

(ii) maintain, preserve and perfect any grant of security made or to be made by this Agreement including, without limitation,
the first priority nature (subject to Permitted Liens) of the lien or carry out more effectively the purposes hereof; 

(iii) perfect, publish notice of or protect the validity of any grant made or to be made by this Agreement (including, without
limitation, any and all actions necessary or desirable as a result of changes in law or regulations); 
 (iv) enforce any of
the Collateral or other instruments or property included in the Collateral; 
 (v) preserve and defend title to the
Collateral and the rights therein of the Collateral Agent and the Secured Parties in the Collateral against the claims of all Persons and parties; and 

(vi) pay or cause to be paid any and all material Taxes levied or assessed upon all or any part of the Collateral, except to
the extent such Taxes are being contested in good faith by appropriate proceedings promptly instituted and diligently concluded; provided that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have
been made therefor. 
 The Borrower hereby authorizes the Collateral Agent as its agent and attorney in fact to prepare and file any UCC-1 financing statement (which may describe the collateral as “all assets”), continuation statement and all other instruments, and take all other actions, required pursuant to this
Section 6.3. Such authorization shall not impose upon the Collateral Agent, or release or diminish, the Borrower’s obligations under this Section 6.3. The Borrower further authorizes the
Administrative Agent’s United States counsel to file any UCC-1 or UCC-3 financing statements that may be required by the Agents in connection with this Agreement
and the transactions contemplated hereby. 

  
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 Section 6.4 Application of Proceeds. Unless and until the Majority Lenders have
exercised their right to direct the liquidation of the Collateral pursuant to this Article VI, all proceeds received in respect of the Collateral will be applied in accordance with the Priority of Payments specified in
Section 9.1(a). All proceeds received after the Majority Lenders have exercised their right to direct the liquidation of the Collateral will be applied to the Obligations in the following order of priority on each date or
dates fixed by the Collateral Agent (at the direction of the Majority Lenders): 
 (a) first, to the payment of taxes, registration
and filing fees then due and owing by the Borrower; second, to the payment to the Collateral Agent for all due and unpaid Collateral Agent Fees, all other Administrative Expenses owing to the Collateral Agent and all amounts owing and payable
hereunder, or under any other Loan Documents, to the Collateral Administrator, the Custodian, the Securities Intermediary and the Document Custodian (including, in each case, without limitation, indemnity payments); and third, to the payment
to the Administrative Agent for all due and unpaid Administrative Agent Fees and all other Administrative Expenses owing to the Administrative Agent (including, without limitation, indemnity payments); 

(b) to the payment of Administrative Expenses (other than those paid under clause (a) above), in the order of priority set forth in the
definition of “Administrative Expenses”; provided that the aggregate amount of payments under this clause (b) shall not exceed the Quarterly Cap; 

(c) to the payment of all other amounts due to the Agents hereunder; 

(d) to the payment of all amounts due to the Interest Hedge Counterparties under all Interest Hedge Agreements (exclusive of any early
termination or liquidation payment owing by the Borrower by reason of the occurrence of an event of default or termination event thereunder with respect to such Interest Hedge Counterparty where such Interest Hedge Counterparty is the sole affected
party or the defaulting party); 
 (e) to the payment to the Services Provider of all due and unpaid Senior Services Fees in an amount not
to exceed the accrued Senior Services Fees for one Due Period; 
 (f) first, to the payment to the Lenders hereunder on a pro rata
basis of all amounts due which constitute principal and interest (excluding the additional two percent of interest payable at the Post-Default Rate); and second, to the payment to the Lenders hereunder
on a pro rata basis of all interest payable at the Post-Default Rate (to the extent not paid in clause “first” above) and all amounts due which constitute Increased Costs and all other
amounts on and in respect of all Loans; 
 (g) to the payment of amounts described in clause (b) above to the extent not paid
thereunder (without regard to the Quarterly Cap); 
 (h) to the payment of all amounts due to any Interest Hedge Counterparty under all
Interest Hedge Agreements to the extent not paid under clause (d) above; 

  
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 (i) to the payment of all amounts due to the Services Provider for any due and unpaid
Subordinated Services Fees; and 
 (j) to the Borrower or for payment as directed by the Borrower, including to make a distribution to the
Parent under the Equity Interest held by the Parent in the Borrower. 
 If on any date that payments are made pursuant to this
Section 6.4 the amount available to be paid pursuant to any of the foregoing clauses (a) through (h) is insufficient to make the full amount of the disbursements required pursuant to any such clause, such payments
will be applied in the order and according to the priority set forth in clauses (a) through (h) above and (except as provided in subclauses “first”, “second” and “third” of clause (a) above and subclauses
“first” and “second” of clause (f) above) ratably in accordance with the respective amounts owing under any such clause to the extent funds are available therefor. 

Section 6.5 Capital Contributions. Upon prior written notice to the Borrower, the Administrative Agent, the Services Provider and
the Collateral Agent, any equityholders of the Borrower may, but shall have no obligation to, at any time or from time to time make a capital contribution in Cash or Eligible Investments or an assignment and contribution of a Collateral Loan (valued
at such Collateral Loan’s Principal Collateralization Amount) to the Borrower for the purpose of (a) curing any Event of Default (but no such contribution shall cure any Event of Default without the consent of the Majority Lenders),
(b) enabling the acquisition or sale of any Collateral Loan, (c) satisfying any Eligibility Criteria, Coverage Test, Senior Advance Rate Test or Collateral Quality Test, (d) paying fees and expenses incurred in connection with the
structuring, consummation and closing of the transaction contemplated by this Agreement, and (e) prepaying the Revolving Loans and/or Term Loans. All Cash contributed to the Borrower shall be treated as Principal Proceeds or Interest Proceeds,
as specified by the Borrower. 
 ARTICLE VII 

THE AGENTS 

Section 7.1 Appointment and Authorization. Each Lender irrevocably appoints and authorizes the Agents to take such action as agent
on its behalf and to exercise such powers under this Agreement and the other Loan Documents as are delegated to such Agent by the terms hereof or thereof, together with all such powers as are reasonably incidental thereto. Only the Agents (and not
one or more of the Lenders) shall have the authority to deal directly with the Borrower under this Agreement and each Lender acknowledges that all notices, demands or requests from such Lender to the Borrower must be forwarded to the applicable
Agent for delivery to the Borrower. Each Lender acknowledges that the Borrower has no obligation to act or refrain from acting on instructions or demands of one or more Lenders absent written instructions from an Agent in accordance with its rights
and authority hereunder. 
 Section 7.2 Agents and Affiliates. The Agents shall each have the same rights and powers under this
Agreement as the Lenders and may each exercise or refrain from exercising the same as though it were not an Agent, and such Agents and their respective affiliates may accept deposits from, lend money to, and generally engage in any kind of business
with the Borrower or any Affiliate of the Borrower as if it were not an Agent hereunder, and the term “Lender” and 

  
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“Lenders” may include Société Générale, State Street Bank and Trust Company and/or any Affiliate of Société Générale or State
Street Bank and Trust Company in its individual capacity. The provisions in this Article VII with respect to the Agents shall apply only to the Agents acting in their capacities as such hereunder and not as Lenders. 

Section 7.3 Actions by Agent. The obligations of the Agents hereunder are only those expressly set forth herein. No Agent shall
have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on the part of any Agent shall be
read into this Agreement or any other Loan Document or shall otherwise exist against any Agent. The provisions of this Article VII are solely for the benefit of the Agents and the Lenders (other than
Sections 7.1 and 7.8, which are also for the benefit of the Borrower). In performing its functions and duties solely under this Agreement, each Agent shall act solely as the agent of the Lenders (except pursuant
to Section 12.6(f)) and does not assume, nor shall be deemed to have assumed, any obligation or relationship of trust with or for the Lenders. Without limiting the generality of the foregoing, no Agent shall be required to
take any action with respect to any Default, except as expressly provided in Article VI. 
 Section 7.4
Delegation of Duties; Consultation with Experts. Each Agent may execute any of its duties under this Agreement by or through its subsidiaries, affiliates, agents or
attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. No Agent shall be responsible for the negligence or
misconduct of any agents or attorneys-in-fact selected by it with reasonable care. Each Agent may consult with legal counsel, independent public accountants and other
experts selected by it and shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with the advice of such counsel, accountants or experts. 

Section 7.5 Limitation of Liability of Agents. 

(a) No Agent nor any of its respective affiliates, directors, officers, agents or employees shall be liable for any action taken or not taken
by it in connection herewith (x) with the consent or at the request of the Majority Lenders, or (y) in the absence of its own gross negligence or willful misconduct. No Agent nor any of their respective affiliates, directors, officers,
agents or employees shall be responsible for or have any duty to ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with this Agreement or any Borrowing hereunder; (ii) the performance or
observance of any of the covenants or agreements of the Borrower; (iii) the satisfaction of any condition specified in Article III; or (iv) the validity, effectiveness or genuineness of this Agreement, the other
Loan Documents or any other instrument or writing furnished in connection herewith. No Agent shall incur any liability by acting in reliance upon any notice, consent, certificate, statement, or other writing (which may be a bank wire, telex or
similar writing) believed by it to be genuine or to be signed by the proper party or parties. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document or any other
document furnished in connection herewith or therewith in accordance with a request of the Majority Lenders (or the Administrative Agent) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Under no circumstances shall the Agents be deemed liable for any special, indirect, punitive or consequential damages (including lost profits) even if such Agent has been advised of the likelihood of such damages and regardless of the form of
action. 

  
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 (b) The following additional provisions apply with respect to the Collateral Agent: 

(i) the Collateral Agent shall not be deemed to have notice or knowledge of the occurrence and continuance of an Event of
Default until an Administrative Officer of the Collateral Agent shall have received written notice (which notice shall refer to this Agreement and state that such notice is a notice of Default or Event of Default) thereof from the Borrower, the
Services Provider, the Administrative Agent, a Lender or any other Person; 
 (ii) no provision of this Agreement or the
other Loan Documents shall require the Collateral Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers contemplated
hereunder, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it; provided, however, that the reasonable and documented costs
of performing its ordinary services under this Agreement shall not be deemed a “financial liability” for purposes hereof; 

(iii) if, in performing its duties under this Agreement, the Collateral Agent is required to decide between alternative courses
of action, the Collateral Agent may request written instructions from the Administrative Agent (and the Administrative Agent shall request written instructions from the Majority Lenders) as to the course of action desired. If the Collateral Agent
does not receive such instructions within five Business Days after its request therefor, the Collateral Agent may, but shall be under no duty to, take or refrain from taking any such courses of action. The Collateral Agent shall act in accordance
with instructions received after such five Business Day period except to the extent it has already taken, or committed itself to take, action inconsistent with such instructions; 

(iv) the Collateral Agent shall be under no liability for interest on any funds received by it hereunder except to the extent
of income or other gain on Eligible Investments which are deposits in or certificates of deposit of State Street Bank and Trust Company or any Affiliate in its commercial capacity and income or other gain actually received (and not subsequently
reinvested, withdrawn or distributed) by the Collateral Agent in Eligible Investments; 
 (v) the Collateral Agent shall not
be liable or responsible for delays or failures in the performance of its obligations hereunder arising out of or caused, directly or indirectly, by circumstances beyond its control (such acts include but are not limited to acts of God, strikes,
lockouts, riots, acts of war and interruptions, losses or malfunctions of utilities, computer (hardware or software) or communications services); it being understood that the Collateral Agent shall use commercially reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as reasonably practicable under the circumstances; and 

  
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 (c) without prejudice to the Collateral Agent’s duties under
Article VI or any other provision of any Loan Document, the Collateral Agent shall be under no obligation to take any action to collect from any Obligor any amount payable by such Obligor on the Collateral Loans or any
other Collateral under any circumstances, including if payment is refused after due demand. 
 (d) No Agent shall have any duties or
responsibilities except such duties and responsibilities as are specifically set forth in this Agreement, and no covenants or obligations shall be implied in this Agreement or the other Loan Documents against any such Person. No Agent shall be
responsible for delays or failures in performance resulting from acts beyond its control. Such acts shall include but shall not be limited to acts of god, strikes, lockouts, riots, acts of war, epidemics, governmental regulations superimposed after
the fact, fire, communication line failures, power failures, earthquakes or other disasters. 
 (e) In no event shall the Collateral Agent
be liable for the selection of any investments or any losses in connection therewith, or for any failure of the Borrower to timely provide investment instruction to the Collateral Agent in connection with the investment of funds in or from any
account set forth herein. Except as otherwise provided in Section 8.2(c) or Section 8.3, in the absence of a Borrower Order or, after an Event of Default, a direction from the Administrative Agent,
all funds in any account held under this Agreement shall be held uninvested. Nothing in this Agreement shall be deemed to release the Collateral Agent in its individual capacity from any liability it may have as an obligor under any Eligible
Investment. 
 (f) The Collateral Agent, and in the event that the Collateral Agent is also acting in the capacity of Custodian, Collateral
Administrator, paying agent or securities intermediary hereunder or under the other Loan Documents, then in such other capacities, as well, shall be entitled to compensation from the Borrower in an amount separately agreed upon by the Borrower (or
the Services Provider on its behalf) and the Collateral Agent. The Collateral Agent and its Affiliates also shall be permitted to receive additional compensation that could be deemed to be in the Collateral Agent’s economic self-interest for (i) serving as investment adviser, administrator, shareholder, servicing agent, custodian or sub-custodian with respect to certain of the Eligible
Investments, (ii) using Affiliates to effect transactions in certain Eligible Investments and (iii) effecting transactions in certain investments. Such compensation shall not be considered an amount that is reimbursable or payable pursuant
to this Agreement. 
 (g) Without limiting the generality of any terms of this Section 7.5, the Collateral Agent
shall have no liability for any failure, inability or unwillingness on the part of the Lenders, the Administrative Agent, the Services Provider or the Borrower to provide accurate and complete information on a timely basis to the Collateral Agent,
or otherwise on the part of any such party to comply with the terms of this Agreement or the other Loan Documents, and shall have no liability for any inaccuracy or error in the performance or observance on the Collateral Agent’s part of any of
its duties hereunder that is caused by or results from any such inaccurate, incomplete or untimely information received by it, or other failure on the part of any such other party to comply with the terms hereof. 

  
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 (h) The Collateral Agent shall not be under any obligation to (i) confirm or verify
whether the conditions to the delivery of Collateral have been satisfied or to determine whether (A) a loan is a Collateral Loan or meets the criteria in the definition thereof or is otherwise eligible for purchase hereunder, (B) an
investment is an Eligible Investment or meets the criteria in the definition thereof or is otherwise eligible for purchase hereunder or (ii) evaluate the sufficiency of the documents or instruments delivered to it by or on behalf of the
Borrower in connection with the grant by the Borrower to the Collateral Agent of any item constituting the Collateral or otherwise, or in that regard to examine any underlying documents, in order to determine compliance with the applicable
requirements of and restrictions on transfer of a Collateral Loan or Eligible Investment. 
 (i) In order to comply with Applicable Law,
including the laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering, the Collateral Agent is required to
obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Collateral Agent. Accordingly, each of the parties agrees to provide to the Collateral Agent upon its request from
time to time such identifying information and documentation as may be available for such party in order to enable the Collateral Agent to comply with Applicable Law. The Collateral Agent may from time to time establish any additional accounts deemed
necessary or desirable for convenience in administering the Collateral so long as each such account is at all times subject to a valid and perfected first priority lien in favor of the Collateral Agent, for the benefit of the Secured Parties. 

(j) The Collateral Agent shall not be under any obligation to exercise any of the rights or powers vested in it by this Agreement or any other
Loan Document at the request or direction of the Majority Lenders or the Administrative Agent unless it shall have been provided indemnity reasonably satisfactory to it against the costs, expenses (including the reasonable fees and expenses of its
attorneys and counsel), and liabilities which may be incurred by it in compliance with or in performing such request or direction. No provision of this Agreement or any Loan Document shall otherwise be construed to require the Collateral Agent to
expend or risk its own funds or to take any action that could in its judgment cause it to incur any cost, expenses or liability unless it is provided an indemnity reasonably acceptable to it against any such expenditure, risk, costs, expense or
liability. For the avoidance of doubt, the Collateral Agent shall not have any duty or obligation to take any affirmative action to exercise or enforce any power, right or remedy available to it under this Agreement or any other Loan Document unless
and until directed by the Majority Lenders (or the Administrative Agent on their behalf). 
 (k) The Collateral Agent shall not be bound to
make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, entitlement order, approval or other paper or document. The Collateral Agent shall not be
liable for any error of judgment, or for any act done or step taken or omitted by it, in good faith, or for any mistakes of fact or law, or for anything that it may do or refrain from doing in connection herewith except in the case of its willful
misconduct, bad faith, reckless disregard or grossly negligent performance or omission of its duties. The Collateral Agent may consult with legal counsel (including, without limitation, counsel for the Borrower or the Administrative Agent or any of
their Affiliates) and independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts. The
Collateral Agent shall not be liable for the actions of omissions of the Administrative Agent (including without limitation concerning the application of funds), or under any duty to monitor or investigate compliance on the part of the

  
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Administrative agent with the terms or requirements of this Agreement, any Loan Document or any related document, or their duties thereunder. The Collateral Agent shall be entitled to assume the
due authority of any signatory and genuineness of any signature appearing on any instrument or document it may receive hereunder. 
 (l) The
delivery of reports, and other documents and information to the Collateral Agent hereunder or under any other Loan Document is for informational purposes only and the Collateral Agent’s receipt of such documents and information shall not
constitute constructive notice of any information contained therein or determinable from information contained therein. The Collateral Agent is hereby authorized and directed to execute and deliver the other Loan Documents to which it is a party.
Whether or not expressly stated in such Loan Documents, in performing (or refraining from acting) thereunder, the Collateral Agent shall have all of the rights, benefits, protections and indemnities which are afforded to it in this Agreement. 

(m) Except as expressly provided herein or in any other Loan Document, nothing herein shall be construed to impose an obligation on the part
of the Collateral Agent to recalculate, evaluate or verify any report, certificate or information received by it from the Borrower, Services Provider, Lender or Administrative Agent or to otherwise monitor the activities of the Borrower or Services
Provider. 
 (n) In the event that the Collateral Agent is also acting in the capacity of Custodian, Collateral Agent, paying agent or
securities intermediary hereunder or under the other Loan Documents, the rights, protections, immunities and indemnities afforded the Collateral Agent pursuant to this Article VII shall also be afforded to the Collateral
Agent, individually acting in such other capacities. 
 (o) The Collateral Agent shall not be charged with knowledge or notice of any matter
unless actually known to an Administrative Officer of the Collateral Agent responsible for the administration of this Agreement, or unless and to the extent written notice of such matter is received by the Collateral Agent at its address in
accordance with Section 12.1. 
 Section 7.6 Indemnification. Each Lender, ratably in accordance with
its Percentage Share, shall indemnify each of the Agents, their respective affiliates, directors, officers, agents and employees (to the extent not reimbursed by the Borrower as may be required under this Agreement) against any cost, expense
(including fees of counsel and disbursements), claim, demand, action, loss or liability (except such as result from such indemnitees’ own gross negligence, fraud, reckless disregard, bad faith, criminal conduct or willful misconduct) that such
indemnitee may suffer or incur in connection with this Agreement, the other Loan Documents or any action taken or omitted by such indemnitee hereunder or thereunder. The provisions of this Section 7.6 shall survive the
resignation or replacement of the Agents. 
 Section 7.7 Credit Decision. Each Lender acknowledges that it has, independently
and without reliance upon any Agent or any other Lender or any of their respective affiliates, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each
Lender also acknowledges that it will, independently and without reliance upon any Agent, any other Lender or their respective affiliates, and based on such documents and information as it shall deem appropriate at

  
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the time, continue to make its own credit decisions in taking or not taking any action under this Agreement or in connection therewith. The Agents shall not have any duty or responsibility to
provide any Lender with any credit or other information concerning the business, operations, property, prospects, financial and other condition or creditworthiness of the Borrower which may come into the possession of the Agents or any of their
respective officers, directors, employees, agents, attorneys-in-fact or affiliates other than in connection with their acting as Agents under this Agreement and the
other Loan Documents. 
 Section 7.8 Successor Agent. Any Agent may resign at any time by giving at least 30 days’
prior written notice thereof to the Lenders, the Borrower, the Services Provider and S&P; provided that any such resignation by any Agent shall not be effective until a successor Agent shall have been appointed and approved in accordance
with this Section 7.8. Upon receipt of any such notice, the Majority Lenders shall have the right to appoint a successor Agent with the consent of the Borrower (which consent shall not be unreasonably withheld or delayed).
If no successor Agent shall have been so appointed by the Majority Lenders, shall have been approved by the Borrower, and shall have accepted such appointment, within 30 days after the retiring Agent gives notice of its resignation (or
such earlier day as shall be agreed by the Majority Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not be obligated to), on behalf of the Lenders, designate a successor Agent, which such
successor Agent shall be a commercial bank or a trust company organized or licensed under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. With effect from the
Resignation Effective Date (i) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (ii) except for any indemnity payments owed to the retiring Agent, all payments,
communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time, if any, as the Majority Lenders appoint a successor Agent as provided for above.
Upon the acceptance of its appointment as such Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring Agent and the retiring Agent shall be discharged
from its duties and obligations hereunder, and the successor Agent shall provide written notice of such appointment to the Lenders, the Services Provider and S&P. After any retiring Agent’s resignation hereunder as Agent, the provisions of
this Article VII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was an Agent. With respect to any Person (i) into which an Agent or may be merged or consolidated,
(ii) that may result from any merger or consolidation to which an Agent shall be a party or (iii) with respect to the Agents (other than the Administrative Agent) that may succeed to the corporate trust business and assets of any of such
Agents substantially as a whole, shall be the successor to such Agent under this Agreement without further act of any of the parties to this Agreement. Notwithstanding anything in this Section 7.8 to the contrary, this
Section 7.8 shall not apply to the resignation or removal of the Document Custodian, which shall be governed by the terms of Section 14.9 of this Agreement. 

Section 7.9 Erroneous Payments. 

(a) Each Lender hereby agrees that (i) if the Administrative Agent, the Collateral Administrator or the Collateral Agent notifies such
Lender that the Administrative Agent, the Collateral Administrator or the Collateral Agent, as applicable, has determined in its sole discretion that any funds received by such Lender from a Secured Party or any of its respective

  
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Affiliates (a “Payment Recipient”) were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Lender (whether or not known to such Lender) (whether
as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof), such Lender shall
promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent, the Collateral Administrator or the Collateral Agent, as applicable, the amount of any such Erroneous Payment (or portion thereof) as to which such
a demand was made, in same day funds (in the currency so received), together with interest thereon in respect of each day from and including the date that is two Business Days after the Administrative Agent, the Collateral Administrator or the
Collateral Agent, as applicable, has demanded the return of such Erroneous Payment (or portion thereof) to the date such amount is repaid to the Administrative Agent, the Collateral Administrator or the Collateral Agent, as applicable, in same day
funds at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent, the Collateral Administrator or the Collateral Agent, as applicable, in accordance with banking industry rules on interbank compensation from time to
time in effect and (ii) to the extent permitted by applicable law, such Lender shall not assert any right or claim to the Erroneous Payment, and hereby waives, any claim, counterclaim, defense or right of
set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent, the Collateral Administrator or the Collateral Agent, as applicable, for the return of any Erroneous
Payments received, including without limitation waiver of any defense based on “discharge for value” or any similar doctrine. A notice of the Administrative Agent, the Collateral Administrator or the Collateral Agent to any Lender under
this clause (a) shall be conclusive, absent manifest error. 
 (b) Without limiting immediately preceding clause (a), each
Lender hereby further agrees that if it receives an Erroneous Payment from the Administrative Agent, the Collateral Administrator or the Collateral Agent, as applicable (or any of their respective Affiliates) (x) that is in a different amount
than, or on a different date from, that specified in a notice of payment sent by the Administrative Agent, the Collateral Administrator or the Collateral Agent, as applicable (or any of their respective Affiliates) with respect to such Erroneous
Payment (an “Erroneous Payment Notice”), (y) that was not preceded or accompanied by an Erroneous Payment Notice, or (z) that such Lender otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or
in part), in each case, (i) (A) in the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an
error has been made (in the case of immediately preceding clause (z)), in each case, with respect to such payment, prepayment or repayment; and (ii) such Lender, or the Administrative Agent, the Collateral Administrator or the Collateral
Agent shall (and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events, within one Business Day of its knowledge of such error) notify the Administrative Agent, the Collateral Agent or the
Collateral Administrator of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent, the Collateral Agent or the Collateral Administrator pursuant to this
Section 7.9(b). 

  
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 (c) Each Lender and Secured Party hereby authorizes the Administrative Agent, the Collateral
Agent or the Collateral Administrator to set off, net and apply any and all amounts at any time owing to such Lender or Secured Party under any Loan Document, or otherwise payable or distributable by the Administrative Agent, the Collateral Agent or
the Collateral Administrator to such Lender or Secured Party from any source under or in connection with the Loan Documents, against any amount due to the Administrative Agent, the Collateral Agent or the Collateral Administrator under immediately
preceding clause (a) or under the indemnification provisions of this Agreement. 
 (d) In the event that an Erroneous Payment
(or portion thereof) is not recovered by the Administrative Agent, the Collateral Agent or the Collateral Administrator for any reason, after demand therefor by the Administrative Agent, the Collateral Agent or the Collateral Administrator in
accordance with immediately preceding clause (a), from any Lender that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its respective
behalf) (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s, the Collateral Agent’s or the Collateral Administrator’s notice to such Lender at any time, (i) such
Lender shall be deemed to have assigned its Loans (but not its Commitments) of the relevant class with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Class”) in an amount equal to the Erroneous
Payment Return Deficiency (or such lesser amount as the Administrative Agent, the Collateral Administrator or the Collateral Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the
“Erroneous Payment Deficiency Assignment”) at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent, the Collateral Administrator or the Collateral Agent in such instance), and is
hereby (together with the Borrower) deemed to execute and deliver an Assignment and Assumption with respect to such Erroneous Payment Deficiency Assignment, and such Lender shall deliver any Notes evidencing such Loans to the Borrower or the
Administrative Agent, (ii) the Administrative Agent, the Collateral Administrator or the Collateral Agent as the assignee Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment, (iii) upon such deemed acquisition,
the Administrative Agent, the Collateral Administrator or the Collateral Agent as the assignee Lender shall become a Lender hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender shall cease to be a Lender
hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments which shall survive as to such
assigning Lender and (iv) the Administrative Agent, the Collateral Administrator or the Collateral Agent may reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment. Subject to
Section 12.6, the Administrative Agent, the Collateral Administrator or the Collateral Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of the
proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent, the Collateral Administrator or the
Collateral Agent shall retain all other rights, remedies and claims against such Lender (and/or against any recipient that receives funds on its respective behalf). For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce
the Commitments of any Lender and such Commitments shall remain available in accordance with the terms of this Agreement. In addition, each party hereto agrees that, except to the extent that the Administrative Agent, the Collateral Administrator or
the Collateral Agent has sold a Loan (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency Assignment, and irrespective of whether the Administrative Agent, the Collateral 

  
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Administrator or the Collateral Agent may be equitably subrogated, the Administrative Agent, the Collateral Administrator or the Collateral Agent shall be contractually subrogated to all the
rights and interests of the applicable Lender or Secured Party under the Loan Documents with respect to each Erroneous Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”). 

(e) The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by
the Borrower or any other Loan Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent, the Collateral
Administrator or Collateral Agent from the Borrower or any other Loan Party for the purpose of making a payment in respect of the Obligations, in which case such payment shall discharge and otherwise satisfy the applicable obligation of the Borrower
being so paid, prepaid or repaid in accordance with the terms of this Agreement. Notwithstanding anything to the contrary herein, in connection with any Erroneous Payment (including in connection with any subrogation related thereto), under no
circumstances shall the Collateral Administrator or the Collateral Agent be deemed a lender-of-record. 

(f) To the extent permitted by Applicable Law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby
waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent, the Collateral Administrator or
the Collateral Agent for the return of any Erroneous Payment received, including without limitation waiver of any defense based on “discharge for value” or any similar doctrine. 

(g) Each party’s obligations under this Section 7.9 shall survive the resignation or replacement of the
Administrative Agent, the Collateral Administrator or the Collateral Agent, the termination of the Commitments or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document. 

ARTICLE VIII 
 ACCOUNTS
AND COLLATERAL 
 Section 8.1 Collection of Money. 

(a) Except as otherwise expressly provided herein, the Collateral Agent may demand payment or delivery of, and shall receive and collect,
directly and without intervention or assistance of any fiscal agent or other intermediary, all Money and other property payable to or receivable by the Collateral Agent pursuant to this Agreement (other than amounts specifically required herein to
be paid to the Administrative Agent), including, but not limited to, all payments or any other amounts due on the Collateral Loans and Eligible Investments, in accordance with the terms and conditions of such Collateral Loans and Eligible
Investments. The Collateral Agent shall segregate and hold all such Money and property received by it in trust for the Lenders and shall apply it as provided in this Agreement. 

  
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 (b) All payments on the Collateral Loans and other Collateral shall be made directly to the
Collateral Agent (at a bank in the United States), will be held in the Collection Account, and will be divided into Interest Proceeds (including Fee Proceeds) and Principal Proceeds. Such amounts shall be applied in accordance with the Priority of
Payments and the terms of this Agreement. 
 (c) The Borrower (or the Services Provider on behalf of the Borrower) will provide the
Collateral Agent with a copy of each agreement under which the Borrower sells any interest in a Collateral Loan pursuant to Section 10.1. Upon receipt of written certification by the Borrower or the Services Provider (which
may take the form of standing instructions with respect to a specified portion of all payments received on designated Collateral Loans) to the effect that specified amounts received by the Collateral Agent from an Obligor do not constitute
Collections subject to this Agreement but are required by the terms of such a participation or assignment agreement to be paid by the Borrower to the purchaser of a participation interest sold by the Borrower or assignee of the Borrower, as the case
may be, the Collateral Agent will disburse such amounts, as directed in such certificate. The Collateral Agent shall make such disbursements in accordance with such directions and shall have no obligation to monitor or verify the terms of any such
arrangement. 
 (d) The Custodian hereby agrees, with the Collateral Agent that (i) each of the Covered Accounts shall be a securities
account or deposit account of the Borrower subject to the Lien of the Collateral Agent, (ii) all property (other than cash or general intangibles) credited to the Covered Accounts shall be treated as a “financial asset” for purposes
of the UCC and all cash that is credited to Covered Accounts shall be credited to accounts that are deposit accounts, (iii) the Custodian shall treat the Collateral Agent as entitled to exercise the rights that comprise each financial asset
credited to the Covered Accounts subject to the rights of the Borrower specified herein, (iv) the Custodian shall not agree with any person or entity other than the Collateral Agent to comply with entitlement orders originated by any person or
entity other than the Collateral Agent or the Borrower (or the Services Provider on behalf of the Borrower) as provided herein, (v) the Covered Accounts and all property credited to the Covered Accounts shall not be subject to any lien,
security interest, right of set-off, or encumbrance in favor of the Custodian or any person or entity claiming through the Custodian (other than the Collateral Agent) except for the right to debit for any item
returned by reason of non-sufficient funds and other Permitted Liens, (vi) regardless of any provision in any other agreement, for purposes of the UCC and for purposes of the Convention on the Law
Applicable to Certain Rights in Respect of Securities Held with an Intermediary (the “Hague Convention”), with respect to each Covered Account, New York shall be deemed to be the Custodian’s jurisdiction (within the
meaning of Section 9-304 of the UCC) and the securities intermediary’s jurisdiction (within the meaning of Section 8-110 of the UCC) and New York
shall govern the issues specified in Article 2(1) of the Hague Convention and (vii) any agreement between the Custodian and the Collateral Agent with respect to the Covered Accounts shall be governed by the laws of the State of
New York. Notwithstanding any term hereof or elsewhere to the contrary, it is hereby expressly acknowledged that (a) interests in bank loans or participations (collectively, “Loan Assets”) may be acquired and delivered by
the Borrower to the Securities Intermediary from time to time which are not evidenced by, or accompanied by delivery of, a security (as that term is defined in UCC Section 8-102) or an instrument (as that
term is defined in Section 9-102(a)(47) of the UCC), and may be evidenced solely by delivery to the Document Custodian (with a copy to the Securities Intermediary) of a

  
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facsimile copy of an assignment agreement (“Loan Assignment Agreement”) in favor of the Borrower as assignee, (b) any such Loan Assignment Agreement (and the registration of
the related Loan Assets on the books and records of the applicable obligor or bank agent) shall be registered in the name of the Borrower and (c) any duty on the part of the Document Custodian with respect to such Loan Asset (including in
respect of any duty it might otherwise have to maintain a sufficient quantity of such Loan Asset for purposes of UCC Section 8-504) shall be limited to the exercise of reasonable care by the Document
Custodian in the physical custody of any such Loan Assignment Agreement that may be delivered to it; provided that the Document Custodian shall maintain such Loan Assignment Agreements as required by this Agreement. It is acknowledged and
agreed that neither the Document Custodian nor the Securities Intermediary is under a duty to examine underlying credit agreements or loan documents to determine the validity or sufficiency of any Loan Assignment Agreement (and shall have no
responsibility for the genuineness or completeness thereof), or for the Borrower’s title to any related Loan Asset. 
 (e) Each Covered
Account shall remain at all times with an Eligible Account Bank and, if the institution at which any such Covered Account is no longer an Eligible Account Bank, the assets held in such Covered Account shall be moved within 30 calendar days to
another financial institution constituting an “Eligible Account Bank” hereunder. 
 Section 8.2 Collection Account.

 (a) The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated
non-interest bearing trust account in the name “ORCC Financing IV LLC Collection Account, subject to the lien of State Street Bank and Trust Company, as Collateral Agent for the benefit of the Secured
Parties”, which shall be designated as the “Collection Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement. Such account shall be held in trust for the benefit of the
Secured Parties and the Collateral Agent shall have exclusive control over such account, subject to the Borrower’s right to give instructions specified herein, and the sole right of withdrawal, into which the Collateral Agent shall from time to
time deposit (i) any amount received under any Interest Hedge Agreement, (ii) all proceeds received from the disposition of any Collateral (unless, during the Reinvestment Period, simultaneously reinvested in Collateral Loans, subject to
Article X, or in Eligible Investments or to prepay the Loans in accordance with Section 2.7) and (iii) all Interest Proceeds (including all Fee Proceeds) and all Principal Proceeds. All Monies
deposited from time to time in the Collection Account pursuant to this Agreement shall be held by the Collateral Agent as part of the Collateral and shall be applied for the purposes herein provided. The only permitted withdrawal from or application
of funds on deposit in, or otherwise to the credit of, the Collection Account shall be in accordance with the provisions of Sections 6.4, 8.2 and 9.1 or to effect a Permitted Distribution or a Permitted
Parent Distribution in accordance with the terms of this Agreement. Notwithstanding the foregoing, the Collateral Agent is hereby authorized to establish one or more subaccounts of the Collection Account, one of which shall be designated the
“Interest Collection Account” and the other the “Principal Collection Account” and which together will comprise the “Collection Account” for all purposes of this Agreement and the Account Control Agreement. 

  
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 (b) All Distributions and any net proceeds from the sale or disposition of Pledged
Collateral or any Interest Hedge Agreement or other collateral received by the Collateral Agent shall, subject to the parenthetical in Section 8.2(a)(ii), be immediately deposited into the Collection Account. Subject to
Sections 8.2(d) and 8.2(e), all such property, together with any investments in which funds included in such property are or will be invested or reinvested during the term of this Agreement, and any income or
other gain realized from such investments, shall be held by the Collateral Agent in the Collection Account as part of the Collateral subject to disbursement and withdrawal as provided in this Section 8.2. (i) So long
as no Event of Default has occurred and is continuing, by Borrower Order (which may be in the form of standing instructions), the Borrower (or the Services Provider on behalf of the Borrower) shall and (ii) after the occurrence and during the
continuation of an Event of Default, the Administrative Agent (at the direction of the Majority Lenders) shall direct the Collateral Agent to, and, upon receipt of such Borrower Order or direction, as applicable, the Collateral Agent shall, invest
all funds received into the Collection Account during a Due Period, and amounts received in prior Due Periods and retained in the Collection Account, as so directed in Eligible Investments having stated maturities no later than the second Business
Day immediately preceding the next Quarterly Payment Date. The Borrower, the Services Provider on behalf of the Borrower and the Administrative Agent each agrees that it shall not give any instruction to invest such funds other than in accordance
with, or subject to an exemption from, the EU Retention Requirements. So long as no Event of Default has occurred and is continuing, the Collateral Agent, within one Business Day after receipt of any Distribution or other proceeds which are not
Cash, shall so notify the Borrower and the Borrower shall, within six months of receipt of such notice from the Collateral Agent, sell such Distribution or other proceeds for Cash (at a price equal to fair market value as reasonably determined by
the Borrower, or the Services Provider in accordance with the Servicing Standard) to any Person (including an Affiliate of the Borrower) and deposit the proceeds thereof in the Collection Account for investment pursuant to this
Section 8.2; provided that the Borrower need not sell such Distributions or other proceeds if it delivers a certificate of an Authorized Officer to the Administrative Agent certifying that such Distributions or other
proceeds constitute Collateral Loans or Eligible Investments or securities subject to transfer restrictions that do not permit such sale. 

(c) So long as no Event of Default has occurred and is continuing, if the Borrower shall not have given any investment directions pursuant to
Section 8.2(b), the Collateral Agent shall seek instructions from the Borrower within one Business Day after transfer of such funds to the Collection Account. If the Collateral Agent does not thereupon receive written
instructions from the Borrower within five Business Days after transfer of such funds to the Collection Account, the Collateral Agent shall again seek instructions from the Borrower. If the Collateral Agent does not receive written instructions from
the Borrower within five Business Days after such second request, it shall invest and reinvest the funds held in the Collection Account, as fully practicable, in Eligible Investments. The Borrower agrees that it shall not give any instruction to
invest such funds other than in accordance with, or subject to an exemption from, the EU Retention Requirements. After the occurrence and during the continuation of an Event of Default, if the Administrative Agent (at the direction of the Majority
Lenders) shall not have given investment directions to the Collateral Agent pursuant to Section 8.2(b) for three consecutive days, the Collateral Agent shall seek instructions from the Administrative Agent. The
Administrative Agent agrees that it shall not give any instruction to invest such funds other than in accordance with, or subject to an exemption from, the EU Retention Requirements. All interest and other income from such investments shall be
deposited in the Collection Account, any gain realized from such investments shall be credited to the Collection Account, and any loss resulting from such investments shall be charged to the Collection Account. 

  
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 (d) The Borrower (or the Services Provider on behalf of the Borrower) shall by Borrower
Order direct the Collateral Agent to, and upon receipt of such Borrower Order the Collateral Agent shall, transfer Principal Proceeds to the Future Funding Reserve Account on any Business Day on which amounts standing to the credit of the Future
Funding Reserve Account do not equal or exceed the aggregate Unfunded Amount. 
 During the Reinvestment Period, the Borrower (or the
Services Provider on behalf of the Borrower) may by Borrower Order direct the Collateral Agent to, and upon receipt of such Borrower Order the Collateral Agent shall, (i) withdraw funds on deposit in the Collection Account representing
Principal Proceeds and reinvest such funds in Collateral Loans as permitted under and in accordance with the requirements of Article X and such Borrower Order and (ii) apply Principal Proceeds to make a prepayment of
the Loans in accordance with Section 2.7. 
 After the Reinvestment Period, the Borrower (or the Services Provider
on behalf of the Borrower) may by Borrower Order direct the Collateral Agent to, and upon receipt of such Borrower Order the Collateral Agent shall apply Principal Proceeds received by the Borrower (before or after the end of the Reinvestment
Period) towards (A) the purchase of Collateral Loans or (B) the payment or funding of Unfunded Amounts, in each case pursuant to commitments entered into by the Borrower prior to the end of the Reinvestment Period. 

By Borrower Order, the Borrower (or the Services Provider on behalf of the Borrower) may at any time direct the Collateral Agent to, and, upon
receipt of such Borrower Order, the Collateral Agent shall, pay from time to time on dates other than Quarterly Payment Dates from Interest Proceeds on deposit in the Collection Account, Administrative Expenses (which shall be payable in the order
specified in the definition thereof); provided that the aggregate amount of Administrative Expenses paid in any Due Period (excluding Administrative Expenses paid on Quarterly Payment Dates pursuant to the Priority of Payments) shall not
exceed the Retained Expense Amount determined on the immediately prior Quarterly Payment Date plus, without duplication, the Quarterly Cap applicable on the next Quarterly Payment Date. 

(e) The Collateral Agent shall transfer to the Payment Account for application pursuant to Section 9.1(a), on or
about the Business Day (but in no event more than two Business Days) prior to each Quarterly Payment Date, any amounts then held in the Collection Account other than proceeds received after the end of the Due Period with respect to such Quarterly
Payment Date. 
 (f) The Collateral Agent may from time to time establish any additional accounts and/or subaccounts, which in each case
shall be subject to the lien of the Collateral Agent for the benefit of the Secured Parties, deemed necessary by the Collateral Agent for convenience in administering the Collateral. 

(g) The Collateral Agent agrees to give the Borrower, the Services Provider, the Lenders prompt notice if an Administrative Officer of the
Collateral Agent obtains actual knowledge of or receives written notice that the Collection Account or any funds on deposit therein, or otherwise to the credit of the Collection Account, shall become subject to any writ, order, judgment, warrant of
attachment, execution or similar process. 

  
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 (h) At any time and from time to time the Borrower, or the Services Provider on the
Borrower’s behalf, may deposit into the Collection Account funds not previously subject to the Lien of the Collateral Agent (for the benefit of the Secured Parties) granted under this Agreement; provided that (i) the requirements of
Section 6.5 are complied with, if applicable, and (ii) upon such deposit into the Collection Account, such funds shall automatically be subject to the Lien of the Collateral Agent (for the benefit of the Secured
Parties) granted under this Agreement. Any such deposit shall be irrevocable. The Borrower shall notify the Agents in writing of any such deposit prior to or contemporaneously therewith. 

Section 8.3 Payment Account; Future Funding Reserve Account; Interest Reserve Account; Lender Collateral Account; Closing Expense
Account. 
 (a) Payment Account. The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated non-interest bearing trust account in the name “ORCC Financing IV LLC Payment Account, subject to the lien of State Street Bank and Trust Company, as Collateral Agent for the benefit of the Secured
Parties”, which shall be designated as the “Payment Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement. Such account shall be held in trust for the benefit of the
Secured Parties and the Collateral Agent shall have exclusive control over such account, subject to the Borrower’s right to give instructions specified herein, and the sole right of withdrawal. Any and all funds at any time on deposit in, or
otherwise to the credit of, the Payment Account shall be held in trust by the Collateral Agent for the benefit of the Secured Parties. Except as provided in Sections 6.4 and 9.1, the only permitted withdrawal
from or application of funds on deposit in, or otherwise to the credit of, the Payment Account shall be to pay the interest on and the principal of the Loans in accordance with their terms and the provisions of this Agreement and, upon Borrower
Order or in accordance with the Payment Date Report, to pay fees, Administrative Agent Fees, Collateral Agent Fees, Collateral Administrator Fees, Document Custodian Fee, Administrative Expenses, Increased Costs and other amounts specified therein,
each in accordance with (and subject to the limitations contained in) the Priority of Payments. The Collateral Agent agrees to give the Borrower, the Services Provider and the Lenders immediate notice if an Administrative Officer of the Collateral
Agent obtains actual knowledge of or receives written notice that the Payment Account or any funds on deposit therein, or otherwise to the credit of the Payment Account, shall become subject to any writ, order, judgment, warrant of attachment,
execution or similar process. The Borrower shall not have any legal, equitable or beneficial interest in the Payment Account other than in accordance with the Priority of Payments. The amounts in the Payment Account shall remain uninvested. 

(b) Future Funding Reserve Account. The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated non-interest bearing trust account in the name “ORCC Financing IV LLC Future Funding Reserve Account, subject to the lien of State Street Bank and Trust Company, as Collateral Agent for the benefit of the
Secured Parties”, which shall be designated as the “Future Funding Reserve Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement. Such account shall be held in trust for
the benefit of the Secured Parties. The Collateral Agent shall maintain on deposit in the 

  
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Future Funding Reserve Account an amount equal to (i) the aggregate Unfunded Amount as of such date (as identified by the Borrower, or the Services Provider on behalf of the Borrower)
minus (ii) if such date is prior to the end of the Commitment Period, the excess (if any) of (x) the Total Revolving Commitment on such date over (y) the aggregate principal amount of the Revolving Loans outstanding on such
date (the “Required Amount”), in accordance with Articles VIII and IX. The Borrower (or the Services Provider on behalf of the Borrower) shall by Borrower Order direct the Collateral Agent to,
and upon receipt of such Borrower Order the Collateral Agent shall, transfer Principal Proceeds to the Future Funding Reserve Account on any Business Day on which amounts standing to the credit of the Future Funding Reserve Account do not equal or
exceed the Required Amount. By Borrower Order (which may be in the form of standing instructions), the Borrower (or the Services Provider on behalf of the Borrower) may, so long as no Event of Default has occurred and is continuing, direct the
Collateral Agent to, and, upon receipt of such Borrower Order, the Collateral Agent shall, invest all funds received into the Future Funding Reserve Account as so directed solely in overnight funds that are Eligible Investments. The only permitted
withdrawals from or applications of funds on deposit in, or otherwise to the credit of, the Future Funding Reserve Account shall, at the direction of the Borrower (or the Services Provider on behalf of the Borrower) be (i) to fund or pay
Unfunded Amounts, (ii) at the election of the Borrower during the Reinvestment Period, to be applied as Principal Proceeds for use as is provided in this Agreement (including, without limitation, as provided in
Section 9.1(a)(ii)) and (iii) after the Reinvestment Period, to the extent of any Excess Reserve Amount, to be applied as Principal Proceeds in accordance with Section 9.1(a)(ii).
Notwithstanding the foregoing, the amount of all funds on deposit in the Future Funding Reserve Account on any date that exceeds the Required Amount on such date shall be transferred, at the direction of the Borrower (or the Services Provider on
behalf of the Borrower) to the Collection Account on such date and applied as Principal Proceeds. For the avoidance of doubt, any amounts transferred from the Future Funding Reserve Account for application as Principal Proceeds as provided above
shall be further invested in Collateral Loans (to the extent expressly permitted by the other provisions in this Agreement) or applied as Principal Proceeds in accordance with Section 9.1(a)(ii), in each case as expressly
provided in this Agreement. The Collateral Agent agrees to give the Borrower and the Services Provider immediate notice if an Administrative Officer of the Collateral Agent obtains actual knowledge of or receives written notice that the Future
Funding Reserve Account or any funds on deposit therein, or otherwise to the credit of the Future Funding Reserve Account, shall become subject to any writ, order, judgment, warrant of attachment, execution or similar process. Any interest earned on
Eligible Investments held in the Future Funding Reserve Account shall be applied as Interest Proceeds. 
 (c) Interest Reserve
Account. The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated trust account in the name “ORCC Financing IV LLC Interest Reserve Account, subject to the lien of State Street Bank and Trust Company, as
Collateral Agent for the benefit of the Secured Parties”, which shall be designated as the “Interest Reserve Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement and
maintained with the Securities Intermediary in accordance with the Account Control Agreement for the benefit of the Secured Parties. The only permitted deposits to or withdrawals from the Interest Reserve Account shall be in accordance with the
provisions of this Agreement. The Borrower shall not have any legal, equitable or beneficial interest in the Interest Reserve Account other than in accordance with this Agreement and the Priority of Payments. On or prior to the Closing Date, the
Borrower shall deposit or cause to be deposited $0 

  
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into the Interest Reserve Account. Amounts on deposit in the Interest Reserve Account will be invested in Eligible Investments selected by the Services Provider (on behalf of the Borrower), and
earnings from all such investments will be deposited in the Collection Account as Interest Proceeds. On the first Quarterly Payment Date, funds in the Interest Reserve Account as of the related Collateral Report Determination Date will be applied as
Interest Proceeds on such Quarterly Payment Date in accordance with the Priority of Payments, but solely to the extent that other Interest Proceeds are not available to satisfy all amounts described in Section 9.1(a)(i)(A)
through (E). On the second Quarterly Payment Date, remaining funds in the Interest Reserve Account as of the related Collateral Report Determination Date will be applied as Interest Proceeds on such Quarterly Payment Date in accordance
with the Priority of Payments and the Interest Reserve Account will be closed. 
 (d) Lender Collateral Account. 

(i) The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated trust account in the name
“ORCC Financing IV LLC Lender Collateral Account”, which shall be designated as the “Lender Collateral Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement and
maintained with the Securities Intermediary in accordance with the Account Control Agreement for the benefit of the Secured Parties. The Collateral Agent shall have exclusive control over such account (and each subaccount thereof) and the sole right
of withdrawal. The Lender Collateral Account may contain any number of subaccounts for the purposes described in this Section 8.3(d). The only permitted deposits to or withdrawals from the Lender Collateral Account shall be
in accordance with the provisions of this Agreement. The Borrower shall not have any legal, equitable or beneficial interest in the Lender Collateral Account (or any subaccount thereof) other than in accordance with this Agreement. 

(ii) If any Revolving Lender shall at any time be required to deposit any amount in the Lender Collateral Account in accordance
with Section 11.5(b)(i), then (x) the Collateral Agent shall create a segregated subaccount with respect to such Revolving Lender (the “Lender Collateral Subaccount” of such Revolving Lender) and
(y) the Collateral Agent shall deposit all funds received from such Revolving Lender into such Lender Collateral Subaccount. The only permitted withdrawal from or application of funds credited to a Lender Collateral Subaccount shall be as
specified in this Section 8.3(d). Amounts on deposit in Lender Collateral Subaccount will be invested in Eligible Investments selected by the Services Provider, and earnings from all such investments will be remitted to the
applicable Lender to the extent such Lender has fully funded such Lender Collateral Subaccount. 
 (iii) With respect to any
Revolving Lender, the deposit of any funds in the applicable Lender Collateral Subaccount by such Revolving Lender shall not constitute a Borrowing by the Borrower and shall not constitute a utilization of the Revolving Commitment of such Revolving
Lender, and the funds so deposited shall not constitute principal outstanding under the Revolving Loans. However, from and after the establishment of a Lender Collateral Subaccount, the obligation of such Revolving Lender to make Revolving Loans as
part of any Borrowing under this Agreement shall be satisfied 

  
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by the Collateral Agent withdrawing funds from such Lender Collateral Subaccount in the amount of such Revolving Lender’s Percentage Share of such Borrowing. All payments of principal from
the Borrower with respect to Revolving Loans made by such Revolving Lender (whether or not originally funded from such Lender Collateral Subaccount) shall be made by depositing the related funds into such Lender Collateral Subaccount and all other
payments from the Borrower (including without limitation all interest and Commitment Fees) shall be made to such Revolving Lender in accordance with the order specified in the Priority of Payments. The Collateral Agent shall have full power and
authority to withdraw funds from each such Lender Collateral Subaccount at the time of, and in connection with, the making of any such Borrowing and to deposit funds into each such Lender Collateral Subaccount, all in accordance with the terms of
and for the purposes set forth in this Agreement. 
 (iv) Notwithstanding anything to the contrary herein, if on any
Quarterly Payment Date (or on any other Business Day upon one Business Day’s prior written request from such Revolving Lender) the sum of the amount of funds on deposit in the Lender Collateral Subaccount exceeds such Revolving Lender’s
Undrawn Commitment at such time (whether due to a reduction in the aggregate amount of the Revolving Commitments or otherwise), then the Collateral Agent shall remit to such Revolving Lender a portion of the funds then held in the related Lender
Collateral Subaccount in an aggregate amount equal to such excess. Upon the termination of the Revolving Commitments (including following the occurrence of an Event of Default), the Collateral Agent shall promptly (and no later than one Business Day
after such termination) remit to such Revolving Lender all of the funds then held in its related Lender Collateral Subaccount and shall terminate such account. 

(v) Except as otherwise provided in this Agreement, for so long as any amounts are on deposit in any Lender Collateral
Subaccount, the Collateral Agent shall invest and reinvest such funds in Eligible Investments of the type described in clause (iv) of the definition thereof. Interest received on such Eligible Investments shall be retained in such Lender
Collateral Subaccount and invested and reinvested as aforesaid. Any gain realized from such investments shall be credited to such Lender Collateral Subaccount and any loss resulting from such investments shall be charged to such Lender Collateral
Subaccount. Neither the Borrower nor the Collateral Agent shall in any way be held liable by reason of any insufficiency of such Lender Collateral Subaccount resulting from any loss relating to any such investment. 

(e) Closing Expense Account. The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated non-interest bearing trust account in the name “ORCC Financing IV LLC Closing Expense Account, subject to the lien of the Collateral Agent for the benefit of the Secured Parties”, which shall be designated
as the “Closing Expense Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement. The Collateral Agent shall have exclusive control over such account, subject to the
Borrower’s right to give instructions specified herein, and the sole right of withdrawal. Any and all funds at any time on deposit in, or otherwise to the credit of, the Closing Expense Account shall be held in trust by the Collateral Agent for
the benefit of the Secured Parties. On or prior to the Closing Date, the Borrower shall deposit or cause to be deposited approximately $0 into the 

  
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Closing Expense Account. On any Business Day during the period that the Closing Expense Account is open, the Collateral Agent shall apply funds from the Closing Expense Account, as directed by
the Borrower (or the Services Provider on behalf of the Borrower), to pay fees and expenses of the Borrower incurred in connection with the structuring, consummation, closing and post-closing of the
transaction contemplated by this Agreement. Upon the delivery, on any date that is at least 60 days after the Closing Date, of a Borrower Order instructing the Collateral Agent to close the Closing Expense Account, all funds in the Closing
Expense Account will be deposited in the Collection Account as Interest Proceeds and the Closing Expense Account will be closed. By Borrower Order (which may be in the form of standing instructions), the Borrower (or the Services Provider on behalf
of the Borrower) may, so long as no Event of Default has occurred and is continuing, direct the Collateral Agent to, and, upon receipt of such Borrower Order, the Collateral Agent shall, invest all funds received into the Closing Expense Account
during a Due Period as so directed by the Borrower (or the Services Provider on behalf of the Borrower) in Eligible Investments. Any income earned on amounts deposited in the Closing Expense Account will be deposited in the Collection Account as
Interest Proceeds as it is received. The Collateral Agent agrees to give the Borrower and the Services Provider immediate notice if an Administrative Officer of the Collateral Agent obtains actual knowledge of or receives written notice that the
Closing Expense Account or any funds on deposit therein, or otherwise to the credit of the Closing Expense Account, shall become subject to any writ, order, judgment, warrant of attachment, execution or similar process. The only permitted withdrawal
from or application of funds on deposit in, or otherwise to the credit of, the Closing Expense Account shall be in accordance with the provisions of this Section 8.3(e). 

Section 8.4 Custodial Account. 

(a) The Collateral Agent shall, on or prior to the Closing Date, establish a single, segregated
non-interest bearing trust account in the name “ORCC Financing IV LLC Custodial Account, subject to the lien of the Collateral Agent for the benefit of the Secured Parties”, which shall be designated
as the “Custodial Account” and which shall be governed solely by the terms of this Agreement and the Account Control Agreement. Such account shall be maintained with the Securities Intermediary pursuant to the terms of the Account
Control Agreement and over which the Collateral Agent shall have exclusive control, subject to the Borrower’s right to give instructions specified herein, and the sole right of withdrawal. Any and all assets or securities at any time on deposit
in, or otherwise to the credit of, the Custodial Account shall be held by the Custodian for the benefit for the Collateral Agent for the benefit of the Secured Parties. Except in connection with a liquidation pursuant to
Article VI, the only permitted withdrawal from the Custodial Account or in, or otherwise to the credit of, the Custodial Account shall be as directed, upon Borrower Order, in accordance with the provisions of
Sections 8.5 and 8.6. The Collateral Agent agrees to give the Borrower, the Services Provider and the Lenders immediate notice if an Administrative Officer of the Collateral Agent obtains actual knowledge of or
receives written notice that the Custodial Account or any assets or securities on deposit therein, or otherwise to the credit of the Custodial Account, has become subject to any writ, order, judgment, warrant of attachment, execution or similar
process. The Custodial Account shall remain uninvested. 

  
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 The Collateral Agent shall appoint a custodian (the “Custodian”) to act as
a securities intermediary for purposes of this Agreement and the other Loan Documents. Initially, such Custodian shall be State Street Bank and Trust Company. Any successor custodian shall be a state or national bank or trust company which
(i) is not an Affiliate of the Borrower, (ii) has a combined capital and surplus of at least U.S.$200,000,000, (iii) has a rating of at least “BBB+” by S&P and (iv) is a securities intermediary. If at any time the
Custodian does not satisfy the conditions set forth in the foregoing sentence, the Borrower (subject to the consent of the Majority Lenders) shall appoint a replacement Custodian within 30 days of an Authorized Officer of the Borrower becoming
aware of such circumstance. The rights, protections, immunities and indemnities afforded to the Collateral Agent under this Agreement shall also be afforded to the Custodian. 

(b) Except as otherwise provided in Sections 8.5 and 8.6, all right, title and interest of the Borrower
in and to the Custodial Account, all related property, and all proceeds thereof shall be subject to the security interest of the Collateral Agent hereunder. 

(c) With respect to securities (including without limitation debt and equity securities, bonds, money market funds and mutual funds) issued in
the United States, the Shareholders Communications Act of 1985 (the “Act”) requires the Custodian to disclose to the issuers of such securities, upon their request, the name, address and securities position of its customers who are
(a) the “beneficial owners” (as defined in the Act) of such issuer’s securities, if the beneficial owner does not object to such disclosure, or (b) acting as a “respondent bank” (as defined in the Act) with respect
to such securities. (Under the Act, “respondent banks” do not have the option of objecting to such disclosure upon the issuers’ request.) The Act defines a “beneficial owner” as any person who has, or shares, the power to
vote a security (pursuant to an agreement or otherwise), or who directs the voting of a security. The Act defines a “respondent bank” as any bank, association or other entity that exercises fiduciary powers which holds securities on behalf
of beneficial owners and deposits such securities for safekeeping with a bank, such as the Custodian. Under the Act, a customer is either the “beneficial owner” or a “respondent bank”. The “customer” for purposes hereof
shall mean the Borrower and each Lender, each of which shall be deemed to be the “beneficial owner” (as defined in the Act) of such securities to be held by the Custodian hereunder, and each of the Borrower and the Lenders hereby waives
any objection to the disclosure of its name, address and securities position to any such issuer which requests such information pursuant to the Act for the specific purpose of direct communications between such issuer and the Borrower and each
Lender. Each of the Borrower and the Lenders may, by written notice to the Custodian, opt out of the waiver referred to in the foregoing sentence and elect not to consent to the disclosure referred to in the foregoing sentence. With respect to such
securities issued outside of the United States, information shall be released to issuers only if required by law or regulation of the particular country in which the securities are located. 

(d) At any time and from time to time the Borrower, or the Services Provider on the Borrower’s behalf, may deposit into the Custodial
Account Collateral Loans and/or Eligible Investments not previously subject to the Lien of the Collateral Agent (for the benefit of the Secured Parties) granted under this Agreement; provided that (i) the requirements of
Section 6.5 are complied with and (ii) upon such deposit into the Custodial Account, such assets shall automatically be subject to the Lien of the Collateral Agent (for the benefit of the Secured Parties) granted under
this Agreement. Any such deposit shall be irrevocable. The Borrower shall notify the Agents in writing of any such deposit prior to or contemporaneously therewith. 

  
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 Section 8.5 Acquisition of Collateral Loans and Eligible Investments. Each time
that the Borrower acquires any Collateral Loan, Eligible Investment or other Collateral, the Borrower shall, if such Collateral Loan or Eligible Investment or other Collateral has not already been transferred to the Custodial Account, transfer or
cause the transfer of such Collateral Loan or Eligible Investment and other Collateral to the Custodian to be held for the benefit of the Collateral Agent in accordance with the terms of this Agreement. The security interest of the Collateral Agent
in the funds or other property utilized in connection with such acquisition shall, immediately and without further action on the part of the Collateral Agent, be released. The security interest of the Collateral Agent shall nevertheless come into
existence and continue in the Collateral Loans and Eligible Investments and other Collateral so acquired, including all rights of the Borrower in and to any Related Contracts and Collections with respect to such Collateral Loans and Eligible
Investments and other Collateral. 
 Section 8.6 Release of Security Interest in Sold Collateral Loans and Eligible Investments;
Release of Security Interests Upon Termination. 
 (a) Upon any sale or other disposition of a Collateral Loan or Eligible Investment or
other Collateral (or portion thereof) in accordance with the terms of this Agreement, the security interest of the Collateral Agent in such Collateral Loan or Eligible Investment or other Collateral (or the portion thereof which has been sold or
otherwise disposed of), and in all Collections and rights under Related Contracts with respect to such Collateral Loan or Eligible Investment or other Collateral (but not in the proceeds of such sale or other disposition) shall, immediately upon the
sale or other disposition of such Collateral Loan or Eligible Investment or other Collateral (or such portion), and without any further action on the part of the Collateral Agent, be released, except for the proceeds of such sale or other
disposition and except to the extent of the interest, if any, in such Collateral Loan or Eligible Investment or other Collateral which is then retained by the Borrower or which thereafter reverts to the Borrower for any reason. 

(b) Upon the payment in full of the Obligations and termination of all Commitments hereunder, the Collateral shall be released from the liens
created hereby and under the other Loan Documents, and this Agreement and all obligations of the Agents and each Lender hereunder shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the
Collateral shall revert to the Borrower. At the request and sole expense of the Borrower following any such termination, the Administrative Agent and/or the Collateral Agent, as applicable, shall promptly deliver to the Borrower (or its designee)
any Collateral held by such Agent hereunder, and execute and deliver to the Borrower such documents as the Borrower shall reasonably request to evidence such termination. Any such release or termination shall be subject to the provision that the
Obligations shall be reinstated if after such release or termination any portion of any payment in respect of the Obligations shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of the Borrower, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any substantial part of its property, or otherwise, all as though such payment
had not been made. 

  
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 Section 8.7 Method of Collateral Transfer. Notwithstanding any other provision
of this Agreement, each item of Collateral shall be delivered to the Custodian by: 
 (a) with respect to such of the Collateral as
constitutes an instrument, tangible chattel paper, a negotiable document (other than Related Contracts), or money, causing the Custodian to take possession of such instrument indorsed to the Custodian or in blank, or such money, negotiable document,
or tangible chattel paper, in the State of New York separate and apart from all other property held by the Custodian; 
 (b) with
respect to such of the Collateral as constitutes a certificated security in bearer form, causing the Custodian to take possession of the related security certificate in the State of New York; 

(c) with respect to such of the Collateral as constitutes a certificated security in registered form, causing the Custodian to take possession
of the related security certificate in the State of New York or the Commonwealth of Massachusetts, indorsed to the Custodian or in blank by an effective indorsement, or registered in the name of the Custodian, upon original issue or
registration of transfer by the issuer of such certificated security; 
 (d) with respect to such of the Collateral as constitutes an
uncertificated security, causing the issuer of such uncertificated security to register the Custodian or its nominee for the account of the Custodian as the registered owner of such uncertificated security; 

(e) with respect to such of the Collateral as constitutes a security entitlement, causing the Securities Intermediary to indicate by book
entry that the financial asset relating to such security entitlement has been credited to the Custodial Account; 
 (f) with respect to such
of the Collateral as constitutes a deposit account, causing such deposit account to be established and maintained in the name of the Collateral Agent or the Custodian, as applicable, by a bank the jurisdiction of which for purposes of the UCC is the
State of New York; 
 (g) with respect to such of the Collateral as constitutes cash, causing such cash to be credited to a Covered
Account that is a deposit account; and 
 (h) taking such additional or alternative procedures as may hereafter become appropriate to grant
a first priority, perfected security interest in such items of the Collateral to the Collateral Agent, consistent with Applicable Law or regulations. 

If any item of Collateral is a financial asset issued by an issuer that is not the United States of America, an agency or instrumentality
thereof, or some other United States person or entity, and if such item cannot be delivered as set forth above, such item may be delivered by the Collateral Agent holding such item in an account created and maintained in the name of the Collateral
Agent with a banking or securities institution or a clearing agency or system located outside the United States such that the Collateral Agent holds a first priority, perfected security interest in such item of Collateral. 

  
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 The Borrower agrees to record and file after the Closing Date all appropriate UCC-1 financing statements, continuation statements, and other amendments, meeting the requirements of Applicable Law in such manner and in such jurisdictions as are necessary to perfect and protect the interests of
the Secured Parties in the Collateral under the applicable UCC against all creditors of and purchasers from the Borrower. The Borrower promptly shall deliver file-stamped copies of such UCC-1 financing statements, continuation statements, and amendments to the Agents. 
 In connection with
each transfer of an item of Collateral to the Collateral Agent and/or the Custodian, the Collateral Agent or the Custodian, as applicable, shall make appropriate notations on its records indicating that such item of the Collateral is held for the
benefit of the Secured Parties pursuant to and as provided in this Agreement and the other Loan Documents. Effective upon the transfer of an item of Collateral to the Collateral Agent and/or the Custodian, the Collateral Agent or the Custodian, as
applicable, shall be deemed to acknowledge that it holds such item of Collateral as Collateral Agent or as Custodian, as applicable, under this Agreement and the other Loan Documents for the benefit and security of the Secured Parties. 

Notwithstanding any other provision of this Agreement, the Collateral Agent shall not hold any item of Collateral through an agent except as
expressly permitted by this Section 8.7. 
 Section 8.8 Continuing Liability of the Borrower.
Notwithstanding anything herein to the contrary, the Borrower shall remain liable under each Related Contract, interest and obligation included in the Collateral, to observe and perform all the conditions and obligations to be observed and performed
by it thereunder, all in accordance with and pursuant to the terms and provisions thereof, and shall do nothing to impair the security interest of the Collateral Agent in any Collateral. None of the Collateral Agent, the Document Custodian, the
Custodian or any Secured Party shall have any obligation or liability under any such Related Contract, interest or obligation by reason of or arising out of this Agreement or the receipt by the Collateral Agent, the Document Custodian, the Custodian
or any Secured Party of any payment relating to any such Related Contract, interest or obligation pursuant hereto, nor shall the Collateral Agent, the Document Custodian, the Custodian or any Secured Party be required or obligated in any manner to
perform or fulfill any of the obligations of the Borrower thereunder or pursuant thereto, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any
party under any such Related Contract, interest or obligation, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amount thereunder to which it may be entitled at any time. 

Section 8.9 Reports. 

(a) The Collateral Administrator shall deliver or make available to the Borrower by 11:00 a.m. (New York time) on each Business Day
a report describing all Money (including but not limited to a breakdown of all such amounts into Interest Proceeds and Principal Proceeds) and other property received by it pursuant to the terms of this Agreement and the other Loan Documents on the
preceding Business Day (the “Daily Report”). If any Money or property shall be received by the Collateral Agent on a day that is not a Business Day, the Collateral Administrator shall deliver the Daily Report with respect thereto to
the Borrower on the next Business Day. 

  
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 (b) The Collateral Administrator shall compile and provide, subject to the Collateral
Administrator’s receipt from the Services Provider, the Borrower or the Administrative Agent, as applicable, such information with respect to the Collateral Loans and Eligible Investments to the extent not maintained or in the possession of the
Collateral Administrator, the Collateral Report and the Payment Date Report in accordance with Exhibit D and Exhibit E hereof, respectively, and prepare drafts of such Collateral Report and Payment
Date Report and provide such drafts to the Services Provider for review and approval; provided that each such draft is to be provided no later than four days prior to the date the Collateral Report or the Payment Date Report, as applicable,
is due. The Borrower shall cause the Services Provider to review and confirm the calculations made by the Collateral Administrator in such Collateral Report or Payment Date Report within one Business Day prior to the due date of the Collateral
Report or the Payment Date Report. 
 The Services Provider, the Administrative Agent, the Collateral Agent and the Borrower shall cooperate
with the Collateral Administrator in connection with the preparation by the Collateral Administrator of Collateral Reports and Payment Date Reports. The Services Provider shall review and verify the contents of the aforesaid reports, instructions,
statements and certificates, and upon verification shall make such reports available to S&P. Upon receipt of approval from the Services Provider, the Collateral Administrator shall transmit the same to the Borrower and shall make such reports
available to the Administrative Agent and each Lender. 
 (c) The Collateral Administrator may conclusively rely on and without any
investigation, information provided by the Services Provider, Borrower and Administrative Agent in preparation of the Collateral Report and Payment Date Report. Nothing herein shall obligate the Collateral Administrator to review or examine such
information for accuracy, correctness or validity. 
 The Collateral Administrator will make the Collateral Report and Payment Date Report
available via its internet website. The Collateral Administrator’s internet website shall initially be located at http://www.mystatestreet.com. The Collateral Administrator may change the way such statements are distributed. As a condition to
access to the Collateral Administrator’s internet website, the Collateral Administrator may require registration and the acceptance of a disclaimer. The Collateral Administrator shall be entitled to rely on but shall not be responsible for the
content or accuracy of any information provided in the Collateral Report and the Payment Date Report which the Collateral Administrator disseminates in accordance with this Agreement and may affix thereto any disclaimer it deems appropriate in its
reasonable discretion. 
 (d) Nothing herein shall impose or imply any duty or obligation on the part of the Collateral Administrator to
verify, investigate or audit any such information or data, or to determine or monitor on an independent basis whether any issuer of the Collateral Loan is in default or in compliance with the underlying documents governing or securing such
securities, from time to time, the role of the Collateral Administrator hereunder being solely to perform certain mathematical computations and data comparisons as provided herein. 

  
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 (e) The Collateral Administrator shall have no liability for any failure, inability or
unwillingness on the part of the Services Provider or the Borrower or the Administrative Agent to provide accurate and complete information on a timely basis to the Collateral Administrator, or otherwise on the part of any such party to comply with
the terms of this Agreement, and shall have no liability for any inaccuracy or error in the performance or observance on the Collateral Administrator’s part of any of its duties hereunder that is caused by or results from any such inaccurate,
incomplete or untimely information received by it, or other failure on the part of any such other party to comply with the terms hereof. 

(f) If, in performing its duties under this Section 8.9 in connection with compiling and delivering reports, the
Collateral Administrator is required to decide between alternative courses of action, the Collateral Administrator may request written instructions from the Services Provider, acting on behalf of the Borrower, as to the course of action desired by
it. If the Collateral Administrator does not receive such instructions within three Business Days after it has requested them, the Collateral Administrator may, but shall be under no duty to, take or refrain from taking any such courses of action.
The Collateral Administrator shall act in accordance with instructions received after such three-Business Day period except to the extent it has already taken, or committed itself to take action inconsistent
with such instructions. The Collateral Administrator shall be entitled to rely on the advice of legal counsel and independent accountants in performing its duties hereunder and shall be deemed to have acted in good faith if it acts in accordance
with such advice. 
 ARTICLE IX 

APPLICATION OF MONIES 

Section 9.1 Disbursements of Funds from Payment Account. 

(a) Notwithstanding any other provision of this Agreement other than Section 6.4, but subject to the other
subsections of this Section 9.1 and Article II (with respect to optional repayment of Loans), on each Quarterly Payment Date, the Collateral Agent shall disburse amounts transferred to the Payment
Account from the Collection Account pursuant to Section 8.2(e) as follows and for application in accordance with the following priorities (the “Priority of Payments”): 

(i) On each Quarterly Payment Date, prior to the distribution of any Principal Proceeds, Interest Proceeds shall be applied as
follows: 
 (A) to the payment of the following amounts in the following priority (without duplication): (1) Taxes (but
not including any accrued and unpaid Increased Costs), registration and filing fees then due and owing by the Borrower, (2) accrued and unpaid Administrative Expenses in the order set forth in the definition thereof and (3) on any
Quarterly Payment Date other than the final Quarterly Payment Date, to the retention in the Collection Account of an amount equal to the Retained Expense Amount for such Quarterly Payment Date; provided that the aggregate amount of payments
under this clause (A)(2) and (3) shall not exceed on any Quarterly Payment Date the sum of (a) the Quarterly Cap plus (b) the Retained Expense Amount determined on the immediately prior Quarterly Payment Date less
(c) Administrative Expenses paid pursuant to Section 8.2(d) during the Due Period relating to such Quarterly Payment Date; 

  
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 (B) if the Borrower is party to any Interest Hedge Agreements, to the
payment of any amounts owing by the Borrower to the Interest Hedge Counterparties thereunder (exclusive of any early termination or liquidation payment owing by the Borrower by reason of the occurrence of an event of default or termination event
thereunder with respect to such Interest Hedge Counterparty where such Interest Hedge Counterparty is the sole affected party or the defaulting party); 

(C) unless deferred by the Services Provider (or its designee), to the payment to the Services Provider (or its designee) of
all due and unpaid Senior Services Fees that have not been deferred on prior Quarterly Payment Dates; 
 (D) to the Lenders
for payment (on a pro rata basis) of accrued interest and solely to the Revolving Lenders in respect of their Revolving Loans, Commitment Fees (ratably in proportion to their respective Percentage Shares) on the Loans due on such Quarterly Payment
Date (excluding the additional two percent of interest payable at the Post-Default Rate); 

(E) if any of the Coverage Tests are not satisfied as of the related Calculation Date, to the prepayment of principal of the
Loans (to be allocated to the Loans according to the Principal Allocation Formula) until such tests satisfied; 
 (F) to the
payment of amounts described in clause (A) above to the extent not paid thereunder (without regard to any cap or limitation); 

(G) first, to the payment of amounts described in clause (D) above to the extent not paid thereunder, and
second, to the payment of any Lender’s Increased Costs; 
 (H) to the payment to the Services Provider (or its
designee) of any previously deferred Senior Services Fees that the Services Provider elects to be paid on such Quarterly Payment Date by notice to the Collateral Agent prior to the related Calculation Date; 

(I) unless deferred by the Services Provider (or its designee), to the payment to the Services Provider (or its designee) of
(1) all due and unpaid Subordinated Services Fees that have not been deferred on prior Quarterly Payment Dates and (2) any previously deferred Subordinated Services Fees that the Services Provider elects to be paid on such Quarterly
Payment Date by notice to the Collateral Agent prior to the related Calculation Date; 
 (J) if the Borrower is party to any
Interest Hedge Agreements, to any amounts owing by the Borrower to the Interest Hedge Counterparties under such Interest Hedge Agreements to the extent not paid under clause (B) above (without regard to any cap or limitation); 

  
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 (K) all remaining Interest Proceeds: 

(1) during the Reinvestment Period, at the sole discretion of the Services Provider, either (i) to the Borrower for
payment as directed by the Borrower, including as to make a distribution to the Parent under the Equity Interest held by the Parent in the Borrower; (ii) to the Collection Account to be applied as Principal Proceeds for the purchase of
additional Collateral Loans, (iii) to be applied to prepay the principal of the Loans pursuant to Section 2.7, and/or (iv) for deposit into the Future Funding Reserve Account; and 

(2) after the Reinvestment Period, to the Borrower or for payment as directed by the Borrower, either to (i) make a
distribution to the Parent under the Equity Interest held by the Parent in the Borrower; or (ii) prepay the principal of the Loans pursuant to Section 2.7. 

(ii) On each Quarterly Payment Date, following the distribution of all Interest Proceeds as set forth in
Section 9.1(a)(i) above, Principal Proceeds (other than Principal Proceeds previously reinvested in Collateral Loans or otherwise designated by the Borrower for application pursuant to the parenthetical contained in
Section 8.2(a)(ii) or otherwise to provide for any Unsettled Amount shall be applied as follows; provided that after giving effect to any such payment no Commitment Shortfall would exist (and, to the extent that any
Commitment Shortfall would exist, Principal Proceeds shall first be deposited in the Future Funding Reserve Account in the amount needed to eliminate such Commitment Shortfall): 

(A) to the payment of unpaid amounts in items (A) through (E) in Section 9.1(a)(i) above
(in such order of priority stated therein); 
 (B) during the Reinvestment Period, all remaining Principal Proceeds, at the
sole discretion of the Services Provider: 
 (1) to the Collection Account for the purchase of additional Collateral Loans;

 (2) to be applied to prepay the principal of the Loans pursuant to Section 2.7; and/or 

(3) to be deposited into the Future Funding Reserve Account; 

(C) after the Reinvestment Period, 

(1) first, to be applied to the payment of principal and other obligations on the Loans until repaid in full; 

(2) second, to the payment of amounts referred to in items (F) through (J) in
Section 9.1(a)(i) above, in the priority set forth therein but only to the extent not paid in full thereunder; and 

  
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 (3) third, to the Borrower or for payment as directed by the
Borrower, including to make a distribution to the Parent under the Equity Interest held by the Parent in the Borrower. 
 (b) If on any
Quarterly Payment Date the amount available in the Payment Account from amounts received in the related Due Period is insufficient to make the full amount of the disbursements required pursuant to any clause in the Priority of Payments, the
Collateral Agent shall make the disbursements called for in the order and according to the priority set forth under Section 9.1(a) and ratably or in the order provided within a clause, as applicable, in accordance with the
respective amounts owing under any such clause, to the extent funds are available therefor. 
 (c) On each Quarterly Payment Date, the
Collateral Administrator (on behalf of the Borrower) shall deliver to the Administrative Agent, the Collateral Agent, the Services Provider and S&P (so long as S&P is rating the Loans) a report (the “Payment Date Report”)
containing the information described in Exhibit E hereto pursuant to Section 8.9 specifying the amount of Interest Proceeds (and, of such amount, the amount of Fee Proceeds) and Principal Proceeds
received during the preceding Due Period and the amounts to be applied to each purpose set forth in Section 9.1(a). The information in each Payment Date Report shall be determined as of the Calculation Date immediately
preceding the applicable Quarterly Payment Date. For the avoidance of doubt, in any month in which a Quarterly Payment Date occurs, the Collateral Report and the Payment Date Report may be combined into a single report. 

(d) In the event that the Services Provider obtains actual knowledge of or receives written notice that any Interest Hedge Counterparty
defaults in the payment of its obligations to the Borrower under any Interest Hedge Agreement on the payment date therefor, the Services Provider shall notify the Borrower which shall (or the Services Provider on behalf of the Borrower shall) make a
demand on such Interest Hedge Counterparty, or any guarantor, if applicable, demanding payment by 12:00 noon, New York time, on the next Business Day. The Services Provider shall give notice to the Lenders, the Administrative Agent, S&P,
the Borrower and the Collateral Agent upon the continuing failure by such Interest Hedge Counterparty (or applicable guarantor) to perform its obligations for one Business Day following a demand made by the Borrower (or the Services Provider on
behalf of the Borrower) on such Interest Hedge Counterparty. 
 ARTICLE X 

SALE OF COLLATERAL LOANS; ELIGIBILITY CRITERIA; CONDITIONS TO 

SALES AND PURCHASES 

Section 10.1 Sale of Collateral Loans. 

(a) Sales, Substitutions and Assignments. Provided that no Event of Default has occurred and is continuing (except for sales
pursuant to clauses (i), (iii), (iv), (vi) or (viii) below which shall be permitted during the continuance of an Event of Default but only so long as the Majority Lenders have provided their written consent thereto pursuant to
Section 6.2(a)) and subject to the satisfaction of the conditions specified in this Agreement, including without 

  
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limitation Sections 5.33, 10.1(b) and 10.1(c), the Borrower or the Services Provider (on behalf of the Borrower) may direct the Collateral Agent in
writing to sell, and the Collateral Agent shall sell or substitute in the manner directed by the Borrower or the Services Provider (on behalf of the Borrower) in writing, any Collateral Loan or other loan included in the Collateral (including
(x) subject to Section 10.1(b), the sale by participation of all or a portion of the Borrower’s interest in any Collateral Loan or other loan and (y) without limitation, the sale by assignment of a portion of
the Borrower’s interest in any Collateral Loan or other loan); provided that (x) such sale meets the requirements of any one of clauses (i) through (viii) of this Section 10.1(a) and (y) such
substitution shall meet the requirements of clause (vii) of this Section 10.1(a), each of which requirements shall be satisfied upon receipt by the Collateral Agent of a trade ticket or other direction to sell or
substitute (which shall be deemed to be a representation and certification from the Borrower or the Services Provider that such conditions are satisfied): 

(i) Credit Risk Loans. The Borrower or the Services Provider (on behalf of the Borrower) may direct the Collateral Agent
in writing to sell any Credit Risk Loan at any time during or after the Reinvestment Period without restriction. 
 (ii)
Credit Improved Loans. The Borrower or the Services Provider (on behalf of the Borrower) may direct the Collateral Agent in writing to sell any Credit Improved Loan either: 

(A) at any time if the Sale Proceeds from such sale are at least equal to the Investment Criteria Adjusted Balance of such
Credit Improved Loan; or 
 (B) during the Reinvestment Period if the Borrower, or the Services Provider in compliance with
the Servicing Standard, reasonably believes prior to such sale that it will be able to enter into binding commitments to reinvest all or a portion of the proceeds of such sale in one or more additional Collateral Loans with an Aggregate Principal
Balance (together with any Collateral (which, for the avoidance of doubt, may be Collateral Loans or Cash) contributed (which contribution shall be irrevocable) by the Borrower or the Services Provider on the Borrower’s behalf prior to such
sale) at least equal to the Investment Criteria Adjusted Balance of such Credit Improved Loan within 30 Business Days of such sale. 

(iii) Defaulted Loans. The Borrower or the Services Provider (on behalf of the Borrower) may direct the Collateral Agent
in writing to sell any Defaulted Loan at any time during or after the Reinvestment Period without restriction. 
 (iv)
Equity Securities. The Borrower or the Services Provider (on behalf of the Borrower) shall use its commercially reasonable efforts to effect the sale of any Equity Security within 45 days after receipt if such Equity Security constitutes
Margin Stock, unless such sale is prohibited by Applicable Law, in which case such Equity Security shall be sold as soon as such sale is permitted by Applicable Law. 

  
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 (v) Discretionary Sales. The Borrower or the Services Provider on
behalf of the Borrower may at any time direct the Collateral Agent in writing to sell any Collateral Loan that is not covered by another provision of this Section 10.1; provided that such sale shall be permitted only
so long as (A)(i) the Aggregate Principal Balance of all such Collateral Loans (excluding (v) Equity Securities, (w) CCC Collateral Loans that at the time of the commitment to sell constituted CCC Excess, (x) Post-Transition S&P
CCC Collateral Loans, (y) Credit Risk Loans and (z) Defaulted Loans) sold during the preceding period of twelve calendar months (or, for the first twelve calendar months after the Closing Date, during the period commencing on the Closing
Date) is not greater than 25% of Total Capitalization, as of the first day of such twelve calendar month period (or as of the Closing Date, as the case may be) or (ii) such sale is in connection with a Permitted Securitization (including, for
the avoidance of doubt, sales to an Affiliate of the Borrower that is not the issuer or debtor in the Permitted Securitization in amounts necessary to satisfy the requirements of sub-clause (x) of clause
(b) of the definition of Permitted Distribution), (B) such Loan is sold for a price not less than its Principal Balance (unless the Borrower has received a capital contribution in an amount equal to the excess of such Principal Balance over
such sale price); provided that this clause (B) shall not apply during the Reinvestment Period so long as before and immediately after giving effect to such sale the Overcollateralization Ratio is not less than 176.76% and (C) after
giving effect to such sale, the requirements of Section 5.37 are satisfied as of such date. Any written direction given by the Borrower or the Services Provider on behalf of the Borrower to the Collateral Agent that
pursuant to this clause (v) shall be deemed a representation and certification by the Borrower or the Services Provider on behalf of the Borrower to the Collateral Agent this clause (v) has been satisfied. 

(vi) Mandatory Sales. The Borrower or the Services Provider (on behalf of the Borrower) shall use its commercially
reasonable efforts to effect the sale of any Collateral Loan (other than Defaulted Loans) that no longer meets the criteria described in clause (n) in the definition of “Collateral Loan,” within 18 months of the failure of such
Collateral Loan to meet any such criteria (unless (1) the Rating Condition is satisfied or (2) the Borrower or the Services Provider determines that such sale would not be in the best interests of the Lenders). 

(vii) [Reserved]. 

(viii) Sales in Connection with Payment in Full and Termination of the Facility. The Borrower, or the Services Provider
on behalf of the Borrower, may direct the Collateral Agent in writing to sell, assign or transfer all or any portion of the Collateral in connection with the payment in full of all of the Obligations (other than any unasserted Contingent
Obligations) and the payment of any other amounts required to be paid pursuant to the Priority of Payments; provided that the proceeds from any such sale, assignment or transfer directed pursuant to this
Section 10.1(a)(viii) are sufficient to pay in full all of the Obligations (other than any unasserted Contingent Obligations) and any other amounts required to be paid pursuant to the pursuant to the Priority of Payments
(as certified to the Collateral Agent by the Borrower). For the avoidance of doubt, the Borrower, or the Services Provider on behalf of the Borrower, may only direct such sales, assignments or transfers contemplated by this
Section 10.1(a)(viii) if no Enforcement Event (as defined in Section 6.2(b)) has occurred and is continuing at such time. 

  
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 (b) Participations. The Borrower may not sell a participation interest in a Revolving
Collateral Loan or a Delayed Funding Loan. 
 (c) Sales for Cash of Collateral Loans. All sales of Collateral Loans or any portion
thereof pursuant to this Section 10.1 shall be for Cash on a non-recourse basis, which shall be deemed Principal Proceeds for all purposes hereunder; provided that if such sale
is in connection with a Permitted Securitization pursuant to Section 10.1(a)(v), a portion of the purchase price equal to the amount of Permitted Distribution that the Borrower may distribute to the Parent in accordance
with Section 5.29 may be paid by means of proper accounting entries being entered upon the accounts and records of the Permitted Securitization’s issuer, the Borrower and Parent to evidence the purchase of subordinated
notes by the Parent from the Permitted Securitization’s issuer in the amount of such Permitted Distribution, netted against the purchase of Collateral Loans by the Permitted Securitization’s issuer from the Borrower in the amount of such
Permitted Distribution netted against such Permitted Distribution by the Borrower to the Parent. 
 (d) Repurchase or Substitution of
Warranty Collateral Loans. In the event of a breach of Section 4.10, Section 4.14 or Section 4.19 or of a material breach of any other representation, warranty,
undertaking or covenant set forth in Article IV or Article V with respect to a Collateral Loan (each such Collateral Loan, a “Warranty Collateral Loan”), no later than 30 days after the earlier of (x) knowledge of
such breach on the part of the Borrower or the Services Provider and (y) receipt by the Borrower or the Services Provider of written notice thereof given by the Administrative Agent, the Borrower shall cause the Seller to either
(a) repurchase such Warranty Collateral Loans at the applicable Repurchase Price or (b) substitute for such Warranty Collateral Loan one or more Collateral Loans with an aggregate Principal Balance at least equal to the Repurchase Price of
the Warranty Collateral Loan(s) being replaced; provided, that no such repurchase or substitution shall be required to be made with respect to any Warranty Collateral Loan (and such Collateral Loan shall cease to be a Warranty Collateral Loan) if,
on or before the expiration of such 30-day period, either (i) the representations, warranties, undertakings and covenants set forth in Article IV and Article V with respect to such Warranty
Collateral Loan shall be made true and correct in all material respects with respect to such Warranty Collateral Loan as if such Warranty Collateral Loan had become part of the Collateral on such day, as applicable, or (ii) the
Overcollateralization Ratio Test is satisfied. 
 Section 10.2 Eligibility Criteria. Unless otherwise specified herein, on and
after the Closing Date but solely during the Reinvestment Period, a debt obligation will be eligible for purchase (including in connection with a substitution pursuant to Section 10.1) by the Borrower and inclusion in the
Collateral only if as evidenced by an officer’s certificate of an Authorized Officer of the Borrower (or the Services Provider on behalf of the Borrower) delivered to the Collateral Agent, the Eligibility Criteria are satisfied at the time such
debt obligation is purchased (on a trade date basis), after giving effect to the inclusion of such debt obligation. 
 Section 10.3
Conditions Applicable to all Sale and Purchase Transactions. Any transaction effected under this Article X or in connection with the acquisition, disposition or substitution of any asset shall be conducted on an
arm’s length basis and, if effected with a Person Affiliated with the Services Provider (or with an account or portfolio for which the Services Provider or any of its Affiliates serves as investment adviser), shall be effected in accordance
with Section 5.33. 

  
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 ARTICLE XI 

CHANGE IN CIRCUMSTANCES 

Section 11.1
Temporary
Disruption of Term SOFR. Subject to
Section 12.5(d), if: 

(a) the
Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining Term SOFR; or 

(b) the
Administrative Agent has been advised by the Majority Lenders that Term SOFR will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan); 

then the Administrative Agent shall give
notice thereof to the Borrower and the Lenders as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, any outstanding Term
SOFR Loan shall on and from such day be converted by the Administrative Agent to, and shall constitute, an ABR Loan. 
 Section 11.1
 (a) Benchmark.
Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and
its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then: 

(x) if a Benchmark Replacement is determined in accordance with clause (1) or (2) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and
subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and  

(y) if a Benchmark Replacement is determined in accordance with clause (3) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or
after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Borrower and the Lenders without any amendment to, or further action or consent of any other party to,
this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from the Borrower or the Lenders comprising the Majority
Lenders. 
 (b) In connection with the implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and,
notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become
effective without any further action or consent of any other party to this Agreement or any other Loan Document. 

  
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 (c) The Administrative
Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark
Replacement Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any
Benchmark Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (d) below and (v) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or
election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to Section 11.1 including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any
action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly
required pursuant to Section 11.1. 
 (d) Notwithstanding
anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or LIBOR) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable
discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such
Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of “Interest Period” for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and
(ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will
no longer be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of “Interest Period” for all Benchmark settings at or after such time to reinstate such previously removed tenor. 

(e) Upon the Borrower’s receipt of notice of the commencement of a
Benchmark Unavailability Period, the Borrower may revoke any Loan Request for a Loan, conversion to or continuation of Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed
to have converted any such Loan Request into a request for a Loan of or conversion to the Alternate Base Rate. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the
component of Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Alternate Base Rate.

  
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 (f)
Other than with respect to a Benchmark Transition Event or an Early Opt-in Election or under the circumstances
described in clause (h) below, if the Administrative Agent
determines, for any proposed Interest Period, that: (i) deposits
in Dollars are not being offered to banks in the applicable offshore market for the applicable amount and Interest Period of any Loan; or
(ii) LIBOR does not adequately or fairly reflect the cost to the
Lenders of funding or maintaining any Loan, then: (A) the Administrative Agent shall forthwith notify the Lenders and the Borrower; and
(B) while such circumstances exist, none of the Lenders shall
allocate any Loans made during such period, or reallocate any Loans allocated to any then-existing Interest Period ending during such period, to an Interest Period with respect to which interest is calculated by reference to LIBOR. If, with respect
to any outstanding Interest Period, a Lender notifies the Administrative Agent that it is unable to obtain matching deposits in the London interbank market to fund its purchase or maintenance of such Loans or that LIBOR applicable to such Loans will
not adequately reflect the cost to the Person of funding or maintaining such Loans for such Interest Period, then: (x) the Administrative Agent shall forthwith so notify the Borrower and the Lenders; and (y) upon such notice and thereafter while such circumstances exist, the applicable Lender shall
not make any Loans during such period or reallocate any Loans allocated to any Interest Period ending during such period, to an Interest Period with respect to which interest is calculated by reference to LIBOR; provided that,
(I) if the forgoing notice relates to Loans that are outstanding,
such Loans shall be converted Loans of the Alternate Base Rate only on the last day of the then-current Interest Period, and (II) upon receipt of such notice, the Borrower may revoke any outstanding Loan Requests for Loans. 

Section 11.2 Illegality. If, on or after the date of this Agreement, the adoption of any Applicable Law, rule
or regulation, or any change in any Applicable Law, rule or regulation, or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration
thereof, or compliance by any Lender in good faith with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall make it unlawful or impossible for any Lender to make, maintain
or fund its Eurodollar Rate Loans (if any) and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof (by telephone confirmed in writing) to the Lenders, the Collateral Agent and the
Borrower, whereupon until such Lender notifies the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Loans (if any) shall be suspended (provided
that such Lender shall instead fund Base Rate Loans (or in the case of outstanding Loans, such Loans will be converted to Base Rate Loans at the end of such Interest Period, or sooner if required by law). Before giving any notice to the
Administrative Agent pursuant to this Section 11.2, such Lender shall designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and would not be otherwise
disadvantageous to such Lender. If circumstances subsequently change so that it is no longer unlawful for an affected Lender to make or maintain Eurodollar Rate Loans as contemplated hereunder, such Lender will, as soon as reasonably practicable
after such Lender becomes aware of such change in circumstances, notify the Borrower, the Collateral Agent and the Administrative Agent and upon receipt of such notice, the obligations of such Lender to make or continue Eurodollar Rate Loans shall
be reinstated. 

  
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 Section 11.3 Increased Cost and Reduced Return. 

(a) If, on or after the date hereof, the adoption of any Applicable Law, rule or regulation, or any change in any Applicable Law, rule or
regulation, or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender (or its Applicable
Lending Office) with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall impose, modify or deem applicable any reserve (including, without limitation, any such requirement
imposed by the Federal Reserve Board, special deposit, insurance assessment or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender (or its Applicable Lending Office) or shall impose on any
Lender (or its Applicable Lending Office) or on the London interbank market any other condition affecting its Eurodollar Rate Loans, its Notes evidencing Eurodollar Rate Loans, or its obligation to make Eurodollar Rate Loans, and the result of any
of the foregoing is to increase the cost to such Lender (or its Applicable Lending Office) of making or maintaining any Loan, or to reduce the amount of any sum received or receivable by such Lender (or its Applicable Lending Office) under this
Agreement or under its Notes with respect thereto (other than any increased costs on account of (x) Taxes imposed on or with respect to a payment hereunder, (y) Taxes described in clauses (ii) through (iv) of the definition of
“Excluded Taxes” and (z) Connection Income Taxes), such additional amount or amounts as will compensate such Lender for such increased cost or reduction shall constitute “Increased Costs” payable by the Borrower pursuant to
Sections 9.1(a) and 6.4; provided that such amounts shall be no greater than that which such Lender is generally charging other borrowers similarly situated to Borrower. 

(b) If any Lender shall have determined that, after the date hereof, the adoption of any Applicable Law, rule or regulation regarding
liquidity or capital adequacy, or any change in any such law, rule or regulation, or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or
administration thereof, or any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on capital
of such Lender as a consequence of such Lender’s obligations hereunder to a level below that which such Lender could have achieved but for such adoption, change, request or directive (taking into consideration its policies with respect to
capital adequacy) by an amount deemed by such Lender to be material, then, upon demand (which demand shall set forth in reasonable detail the basis for such demand for compensation) by such Lender (with a copy to the Administrative Agent, the
Collateral Agent and S&P), such additional amount or amounts as will compensate such Lender for such reduction (to the extent funds are available therefor in accordance with the Priority of Payments) shall constitute “Increased Costs”
payable by the Borrower pursuant to Sections 9.1(a) and 6.4. 
 (c) Each Lender will promptly notify
the Borrower, the Collateral Agent and the Administrative Agent of any event of which it has knowledge, occurring after the date hereof, which will entitle such Lender to compensation pursuant to this Section 11.3 and will
designate a different Applicable Lending Office if such designation will avoid the need for, or reduce the amount of, such compensation and will not be otherwise disadvantageous to such Lender. A certificate of any Lender claiming compensation under
this Section 11.3 and setting forth in reasonable detail a calculation of the additional amount or amounts to be paid to it hereunder shall 

  
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be delivered in connection with any request for compensation and shall be conclusive in the absence of manifest error. In determining such amount, such Lender may use any reasonable averaging and
attribution methods. Failure or delay on the part of any Lender to demand compensation under this Section 11.3 shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the
Borrower shall not be required to compensate a Lender pursuant to this Section 11.3 for any increased costs or reductions incurred more than six months prior to the date on which the applicable Lender notifies the Borrower;
provided that if the event giving rise to such increased costs or reductions is retroactive, then the six-month period referred to above shall be extended to include the period of retroactive effect
thereof. 
 (d) Notwithstanding anything to the contrary contained herein, all requests, rules, guidelines, requirements and directives
promulgated (i) by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority), the Committee of European Banking Supervisors or the United States or foreign regulatory authorities,
in each case, pursuant to Basel III or similar capital requirements directive existing on the Closing Date impacting European banks and other regulated financial institutions, (ii) pursuant to the
Dodd-Frank Wall Street Reform and Consumer Protection Act and (iii) in connection with the EU Retention Requirements shall, in each case, be deemed to be a change or adoption of any law, rule or
regulation for purposes of this Section 11.3, regardless of the date enacted, adopted, issued or implemented; provided, however, that the Borrower shall not be responsible for any increased costs relating to
the EU Retention Requirements so long as the Retention Provider is in compliance with the requirements set forth in the Retention Letter. 

(e) Notwithstanding anything to the contrary in this Section 11.3, the Borrower shall not be required to pay amounts
to any Lender under this Section 11.3 to the extent such amounts would be duplicative of amounts payable by the Borrower under Section 11.4. To the extent the Borrower is required to pay any Lender
additional amounts or indemnify any Lender in respect of Taxes or Other Taxes pursuant to Section 11.4, the provisions of Section 11.4 shall control. 

(f) For the avoidance of doubt, the Borrower shall not be obligated to pay additional amounts to a Lender pursuant to clauses (a)
or (b) of this Section 11.3 to the extent any such additional amounts are attributable to a failure by a Lender to comply with its obligations under the EU Retention Requirements that are within its control. 

Section 11.4 Taxes. 

(a) Except as required by Applicable Law, any and all payments by or on behalf of the Borrower to or for the account of any Lender or any
Agent under any Loan Document shall be made without deduction or withholding for any Taxes. If any Applicable Law (as determined in the good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from
any such payment, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with Applicable Law and,
if such Tax is an Indemnified Tax, then the sum payable by the Borrower shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under
this Section 11.4(a)) the applicable 

  
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Lender or Agent (as the case may be) receives an amount equal to the sum it would have received had no such deduction or withholding been made. The Borrower shall furnish to the Collateral Agent
and the Administrative Agent at their respective addresses set forth on the signature pages hereof, the original or a certified copy of a receipt evidencing payment thereof or, if a receipt is not available, such other evidence of payment as may be
reasonably acceptable to such Lender, the Administrative Agent or the Collateral Agent. 
 (b) The Borrower agrees to pay to the relevant
Governmental Authority in accordance with Applicable Law, or at the option of the applicable Agent reimburse it for payment of, any Other Taxes. 

(c) (i) The Borrower agrees to indemnify each Lender for the full amount of any Indemnified Taxes (including Indemnified Taxes, imposed or
asserted on or attributable to amounts payable under this Section 11.4) paid or payable by such Lender (as the case may be). This indemnification shall be made within ten days from the date such Lender (as the case may be)
makes demand therefor accompanied by evidence reasonably satisfactory to the Borrower establishing liability for such Taxes. 

(ii) Each Lender shall severally indemnify the Collateral Agent and the Administrative Agent for (i) any Indemnified Taxes
attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Collateral Agent or the Administrative Agent (as the case may be) for such Indemnified Taxes and without limiting the obligation of the Borrower to
do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 12.6(b) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to
such Lender, in each case, that are payable or paid by the Collateral Agent or the Administrative Agent (as the case may be) in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. This indemnification shall be made within ten days from the date the Collateral Agent or the Administrative Agent (as the case may be) makes demand
therefor accompanied by evidence reasonably satisfactory to the relevant Lender establishing liability for such Taxes. 
 (d) (i) Each
Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and any Agent, at the time or times reasonably requested by the Borrower or the Agent,
such properly completed and executed documentation reasonably requested by the Borrower or the Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by
the Borrower or any Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by the Borrower or the Agent as will enable the Borrower or the Agent to determine whether or not such Lender is subject to backup
withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in
Section 11.4(d)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would
materially prejudice the legal or commercial position of such Lender. 

  
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 (ii) Without limiting the generality of the foregoing, in the event that the
Borrower is a U.S. Borrower, 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower and any Agent on
or about the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent), executed copies of IRS Form W-9
certifying that such Lender is exempt from U.S. federal backup withholding tax; 
 (B) any Foreign Lender shall, to the
extent it is legally entitled to do so, deliver to the Borrower and any Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to
time thereafter upon the reasonable request of the Borrower or the Agent), whichever of the following is applicable: 
 (1)
in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS
Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax
pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2) executed copies of IRS Form W-8ECI; 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of
the Code, (x) a certificate substantially in the form of Exhibit I-1 to the effect that such Foreign Lender is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation” related to the Borrower as described in
Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E; or 
 (4) to the extent a Foreign Lender is not the beneficial
owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit I-2 or
Exhibit I-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if
the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of
Exhibit I-4 on behalf of each such direct and indirect partner. 

  
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 (C) In addition to the foregoing requirements of this
Section 11.4(d), each Foreign Lender shall, to the extent it is legally entitled to do so and as would not materially prejudice its commercial position, on or prior to the date on which such Lender becomes a Lender under
this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or any Agent), deliver to the Borrower and such Agent (in such number of copies as shall be requested by the recipient) executed originals of any other form
prescribed by Applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding tax, duly completed, together with any required supplementary information as may be prescribed by Applicable Law to permit the
Borrower or the Agent to determine the withholding or deduction required to be made. 
 (D) If a payment made to a Lender
under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of
the Code, as applicable), such Lender shall deliver to the Borrower and any Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Agent such documentation prescribed by Applicable Law
(including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Agent as may be necessary for the Borrower and the Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall
include any amendments made to FATCA after the date of this Agreement. 
 Each Lender hereby agrees that if any form or
certification such Lender previously delivered pursuant to this Section 11.4(d) expires or becomes obsolete or inaccurate in any respect, such Lender shall update such form or certification or notify the Borrower and the
Agents in writing of its legal inability to do so, in each case promptly after such form or certification so expires or becomes obsolete. 

(e) If the Borrower is required to pay additional amounts to or for the account of any Lender pursuant to this
Section 11.4, then such Lender will change the jurisdiction of its Applicable Lending Office so as to eliminate or reduce any such additional payment which may thereafter accrue if such change, in the sole judgment of such
Lender, does not otherwise cause such Lender to incur additional costs or legal or regulatory burdens that the Lender considers in its good faith reasonable judgment to be material. The Borrower hereby agrees to pay all reasonable costs and expenses
incurred by any Lender in connection with any such designation or assignment. 

  
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 (f) If a Lender determines, in its sole discretion exercised in good faith, that it has
received a refund of any Taxes as to which it has been indemnified under this Section 11.4 (including by the payment of additional amounts pursuant to this Section), it shall pay to the Borrower an amount equal to such
refund (but only to the extent of indemnity payments made or additional amounts paid under this Section 11.4 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). The Borrower, upon the request
of such Lender, shall repay to such Lender the amount paid over pursuant to this clause (f) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such Lender is required to repay
such refund to such Governmental Authority. Notwithstanding anything to the contrary in this clause (f), in no event will a Lender be required to pay an amount to the Borrower pursuant to this clause (f) the payment of which would place
the Lender in a less favorable net after-Tax position than the Lender would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise
imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This clause (f) shall not be construed to require any Lender to make available its Tax returns (or any other information relating to
its Taxes that it deems confidential) to the Borrower or any other Person. 
 (g) Notwithstanding anything to contrary contained in this
Section 11.4, all payments made to a Lender pursuant to this Section 11.4 shall only be made to the extent funds are available in accordance with the Priority of Payments. 

(h) Each party’s obligations under this Section 11.4 shall survive the resignation or replacement of the
Collateral Agent or the Administrative Agent or any assignment of rights by, or the replacement of, a Lender and the repayment, satisfaction or discharge of all obligations under any Loan Document. 

Section 11.5 Replacement of Lenders. 

(a) (x) If and for so long as any Lender is (1) a Downgraded Lender (subject to clauses (b) and (c) below), (2) a
Defaulting Lender, (3) requesting compensation under Section 11.3 or (4) unable to make Loans under Section 11.2, (y) if the Borrower is required to pay any additional amount to such
Lender or any authority for the account of such Lender pursuant to Section 11.4 or (z) if and for so long as the obligations of any Lender under this Agreement are the subject of a
Bail-In Action, then the Borrower may, at its sole expense and effort, upon notice to such Lender, the Agents and S&P, direct such Lender to assign and delegate (and such Lender shall comply with such
direction but shall have no obligation to search for, seek, designate or otherwise try to find, an assignee), without recourse (in accordance with and subject to the restrictions contained in, and consents required by,
Section 12.6), all of its interests, rights and obligations under this Agreement and the Notes to a financial institution that is (I) eligible to purchase the replaced Lender’s Loans under the terms hereof,
(II) not prohibited by any Applicable Law from making such purchase and (III) not the subject of a Bail-In Action with respect to its obligations hereunder (such purchaser, an “Approved
Purchaser”), which shall assume such obligations (and which may be another Lender, if such other Lender accepts such assignment); provided that: 

(i) such assigning Lender shall have received payment of an amount equal to the aggregate outstanding principal of its Loans,
accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under its Note (including any amounts under Section 2.8) from such Approved Purchaser (to the extent of such outstanding principal and
accrued interest and fees) or the Borrower (in the case of all other amounts); 

  
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 (ii) in the case of any such assignment or delegation resulting from a claim
for compensation under Section 11.3 or payments required to be made pursuant to Section 11.4, such assignment or delegation will result in a reduction in such compensation or payments thereafter;

 (iii) such assignment or delegation does not conflict with any Applicable Law; and 

(iv) such Approved Purchaser shall deliver to the Borrower a notice of whether such Lender will be a CP Lender and, if so,
the basis of the interest payable to such Approved Purchaser. 
 (b) If and for so long as any Lender is a Downgraded Lender or a Defaulting
Lender hereunder: 
 (i) in the case of a Downgraded Lender, it holds any portion of the Revolving Commitments that remain in
effect, then, as soon as practicable and in any event within 30 days after becoming a Downgraded Lender, (x) it shall deposit an amount equal to its Undrawn Commitments at such time into the Lender Collateral Account and (y) all
principal payments in respect of the Loans which would otherwise be made to such Downgraded Lender shall be diverted to the Lender Collateral Subaccount of such Downgraded Lender in accordance with Section 8.3(d), and any
amounts in such Lender Collateral Subaccount shall be applied to any future funding obligations of such Downgraded Lender; and 

(ii) in the case of a Defaulting Lender, (x) the Commitment and Loans of any such Defaulting Lender shall not be included
in determining whether the Majority Lenders or Majority Revolving Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to Section 12.5);
provided that (i) a Defaulting Lender’s vote shall be included with respect to any action hereunder relating to any change that would require the consent of each Lender or each affected Lender under
Section 12.5 (to the extent such Defaulting Lender is such an affected Lender) and (ii) a Defaulting Lender shall retain its voting rights if such Defaulting Lender is the only Lender, which vote shall not be
unreasonably withheld, conditioned or delayed, and (y) no Defaulting Lender shall be entitled to receive any Commitment Fee for any period during which time that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any
such fee that otherwise would have been required to have been paid to that Defaulting Lender during such time). 
 (c) Notwithstanding
anything in Section 11.5(a) to the contrary, (i) a Lender shall not be required to make any assignment or delegation referred to in Section 11.5(a) if, prior thereto, as a result of a waiver
by such Lender or the Borrower or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply and such Lender gives notice thereof to the Borrower and (ii) the Borrower may not require a
Downgraded Lender to make any such assignment or delegation during the 30-day period referred to in clause (b)(i) above or at any time that a Downgraded Lender is in compliance with clause (b)(i)(x)
above. 

  
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 (d) Each of the Administrative Agent and any replaced Lender will agree to cooperate with
all reasonable requests of the Borrower for the purpose of effecting a transfer in compliance with this Section 11.5. 

(e) Nothing in this Section 11.5 shall be deemed to release a Defaulting Lender or Downgraded Lender from any
liability arising from its failure to fund any Loans it is required to make hereunder. 
 (f) Notwithstanding anything to the contrary
contained herein but subject to the Write-Down and Conversion Powers of any Resolution Authority, the provisions of this Agreement relating to Downgraded Lenders solely due to any such Revolving Lender failing
to be an Approved Lender (including Sections 8.3(d) and 11.5) shall continue to apply after the occurrence of a Bail-In Action, including that any amounts previously
deposited in any Lender Collateral Subaccount will remain available in such Lender Collateral Subaccount following the occurrence of a Bail-In Action for the purposes set forth in this Agreement. 

ARTICLE XII 

MISCELLANEOUS 

Section 12.1 Notices. All notices, requests and other communications to any party hereunder shall be in writing (including bank
wire, facsimile, facsimile transmission, email or similar writing) and shall be given to such party: (i) in the case of the Borrower, the Services Provider, the Administrative Agent, the Collateral Agent, the Collateral Administrator, the
Custodian or the Document Custodian, at its address, facsimile number and/or email address set forth on the signature pages hereof, (ii)(A) in the case of the initial Lender, at its address, facsimile number and/or email address set forth on
the signature pages hereof and (B) in the case of any other Lender, at its address, facsimile number and/or email address set forth in its Administrative Questionnaire (which notices shall be solely by facsimile or email if so indicated
therein), (iii) in the case of S&P, by email to cdo_surveillance@spglobal.com (provided, that (x) in respect of any application for a ratings estimate by S&P in respect of a Collateral Loan, such request must be submitted to
creditestimates@spglobal.com and (y) in respect to any request to S&P for S&P CDO Monitor cases, such request must be sent to CDOMonitor@spglobal.com unless otherwise specified by S&P) or (iv) in the case of any party, such
other address, facsimile number and/or email address as such party may hereafter specify for such purpose by notice to the Administrative Agent, the Collateral Agent and the Borrower. Each such notice, request or other communication shall be
effective (w) if given by facsimile, when such facsimile is transmitted to the facsimile number specified in this Section 12.1 and the appropriate answerback is received, (x) if given by certified or registered
mail, upon delivery, (y) if given by recognized courier guaranteeing overnight delivery, one Business Day after such communication is delivered to such courier or (z) if given by any other means, when delivered at the address or email
address specified in this Section 12.1; provided that notices to the Administrative Agent under Article XI or to the Collateral Agent under Article VIII shall not
be effective until received. 

  
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 The Collateral Agent agrees to accept and act upon instructions or directions pursuant to
this Agreement sent by unsecured email, facsimile transmission or other similar unsecured electronic methods; provided that any person providing such instructions or directions shall provide to the Collateral Agent an incumbency certificate
listing persons designated to provide such instructions or directions, which incumbency certificate shall be amended whenever a person is added or deleted from the listing. If such person elects to give the Collateral Agent email or facsimile
instructions (or instructions by a similar electronic method) and the Collateral Agent in its discretion elects to act upon such instructions, the Collateral Agent’s reasonable understanding of such instructions shall be deemed controlling. The
Collateral Agent shall not be liable for any losses, costs or expenses arising directly or indirectly from the Collateral Agent’s reliance upon and compliance with such instructions notwithstanding such instructions conflicting with or being
inconsistent with a subsequent written instruction. Any person providing such instructions acknowledges and agrees that there may be more secure methods of transmitting such instructions than the method(s) selected by it and agrees that the security
procedures (if any) to be followed in connection with its transmission of such instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances. 

Section 12.2 No Waivers. No failure or delay by either Agent, any Lender or the Borrower in exercising any right, power or
privilege hereunder or under any Note shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies
herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 
 Section 12.3 Expenses;
Indemnification. 
 (a) The Borrower shall pay (i) all reasonable and documented out-of-pocket expenses of the Agents, the Custodian, the Document Custodian and the Securities Intermediary, including, without limitation, reasonable and documented fees and disbursements of counsel in
connection with the preparation, syndications and administration of this Agreement, the Loan Documents and any documents and instruments referred to therein, and further modifications or syndications of the Loans in connection therewith, the
administration of the Loans, any waiver or consent hereunder or any amendment or modification hereof or any Default; and (ii) all reasonable and documented
out-of-pocket expenses incurred by any Agent, including reasonable and documented fees and disbursements of counsel for each Agent, in connection with the enforcement of
the Loan Documents and the instruments referred to therein and such collection, bankruptcy, insolvency and other enforcement proceedings resulting therefrom. For the sake of clarity, this Section 12.3(a) shall not impose
any payment obligation on the Borrower with respect to Taxes, which obligation shall be addressed solely by Section 11.4. 

(b) The Borrower agrees to indemnify the Administrative Agent, the Collateral Agent, the Collateral Administrator, the Custodian, the Document
Custodian, the Securities Intermediary and each Lender, their respective affiliates and the respective directors, officers, agents and employees of the foregoing (each, an “Indemnitee”) and hold each Indemnitee harmless from and
against any and all liabilities, losses, damages, costs and expenses of any kind, including, without limitation, the reasonable and documented fees and disbursements of counsel for each Agent, which may be incurred by such Indemnitee in connection
with any investigative, administrative or judicial proceeding (whether or not such Indemnitee shall be designated a party 

  
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thereto) that may at any time (including, without limitation, at any time following the payment of the Obligations) be imposed on, asserted against or incurred by any Indemnitee as a result of,
or arising out of, or in any way related to or by reason of, (i) any of the transactions contemplated by the Loan Documents or the execution, delivery or performance of any Loan Document, (ii) the grant to the Collateral Agent, the Lenders
of any Lien, on the Collateral, (iii) the exercise by the Administrative Agent, the Collateral Agent, the Lenders or of their rights and remedies (including, without limitation, foreclosure) under any agreements creating any such Lien,
(iv) the failure of the Collateral Agent to have a valid and perfected Lien on any Collateral, (v) a breach by the Borrower of any representation, warranty or covenant contained in any Loan Document or any document relating to any
Collateral or (vi) any loss arising from any action or inaction of the Borrower or any of its Affiliates regarding the administration of any Collateral or otherwise relating to such Collateral (other than an Obligor’s financial inability
to make payments with respect to any such Collateral) but excluding, in each case, as to any Indemnitee, any such losses, liabilities, damages, expenses or costs incurred by reason of the bad faith, gross negligence or willful misconduct by such
Indemnitee with respect to its obligations under this Agreement as finally determined by a court of competent jurisdiction. The Borrower’s obligations under this Section 12.3 shall survive the termination of this
Agreement and the payment of the Obligations and the resignation or removal of an Agent. For the sake of clarity, this Section 12.3(b) shall not impose any indemnification or similar obligation on the Borrower with respect
to Taxes, which obligation shall be addressed solely by Section 11.4. 
 Section 12.4 Sharing of
Set-Offs. In addition to any rights now or hereafter granted under Applicable Law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of any
Event of Default, each Lender is hereby authorized at any time or from time to time, without presentment, demand, protest or other notice of any kind to the Borrower or to any other Person, any such notice being hereby expressly waived, to set off
and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final) and any other Indebtedness at any time held or owing by such Lender (including, without limitation, by branches and agencies of such Lender
wherever located) to or for the credit or the account of the Borrower against and on account of the Obligations of the Borrower then due and payable to such Lender under this Agreement or under any of the other Loan Documents, including, without
limitation, all interests in Obligations purchased by such Lender. 
 Each Lender agrees that if it shall, by exercising any right of set-off or counterclaim or otherwise, receive payment of a proportion of the aggregate amount of principal, interest, fees and other amounts due with respect to any Loan held by it which is greater than the
proportion received by any other Lender in respect of the aggregate amount of principal, interest, fees and other amounts due with respect to the Loans held by such other Lender, the Lender receiving such proportionately greater payment shall
purchase such participations in the Loans held by the other Lenders, and such other adjustments shall be made, as may be required so that all such payments of principal, interest, fees and other amounts with respect to the Loans held by the Lenders
shall be shared by the Lenders pro rata; provided that nothing in this Section 12.4 shall impair the right of any Lender to exercise any right of set-off or counterclaim it may
have and to apply the amount subject to such exercise to the payment of Indebtedness of the Borrower other than its Indebtedness under the Loans. The Borrower agrees, to the fullest extent it may effectively do so under Applicable Law, that any
holder of a participation in a Loan, whether or not acquired pursuant to 

  
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the foregoing arrangements, may exercise rights of set-off or counterclaim and other rights with respect to such participation as fully as if such holder
of a participation were a direct creditor of the Borrower in the amount of such participation. Notwithstanding anything to the contrary contained herein, any Lender may, by separate agreement with the Borrower, waive its right to set off contained
herein or granted by law and any such written waiver shall be effective against such Lender under this Section 12.4. For the avoidance of doubt, for purposes of this Section 12.4, a pro rata
allocation will mean an allocation of the amount received by such set-off or counterclaim and other rights as if such amount had been applied as a prepayment of the Loans under
Section 2.7. 
 Section 12.5 Amendments and Waivers. 

(a) Any provision of this Agreement, the Notes or any other Loan Document may be amended or waived if, but only if, such amendment or waiver
is in writing and is signed by the Borrower and the Majority Lenders (and, if the rights, protections, indemnities or duties of the Administrative Agent and/or the Collateral Agent are affected thereby, by the Administrative Agent and/or the
Collateral Agent, as the case may be); provided that: 
 (i) no such amendment or waiver shall, unless signed by all
the (1) Lenders, extend the Stated Maturity; (2) Revolving Lenders, increase or decrease the Revolving Commitment of any Revolving Lender or subject any Revolving Lender to any additional obligation; (3) Revolving Lenders, change the
Percentage Share of the Revolving Commitments allocable to any Revolving Lender; (4) Lenders, change the Percentage Share of the aggregate unpaid principal amount of the Loans, or the number of Lenders, which shall be required for the Lenders
or any of them to take any action under this Section 12.5 or any other provision of this Agreement; (5) Lenders, release any Collateral except as provided in this Agreement or the other Loan Documents; or
(6) Lenders, alter the terms of Section 2.6, Section 2.7, Section 2.10, Section 6.4, Section 9.1,
Section 10.1(c)(ii) or this Section 12.5 (or any defined term as it is used therein) in a manner adverse to the interests of any Lender; 

(ii) no such amendment or waiver shall, unless signed by all Lenders affected thereby, postpone the date fixed for any payment
of principal of or interest on any Loan or any fees or other amounts hereunder or for any reduction or termination of any Commitment; 

(iii) no such amendment or waiver shall, unless signed by the applicable Lender, reduce the principal of or rate of interest on
any Loan held by such Lender or any fees or indemnities payable for the account of such Lender; provided that the foregoing shall not apply to the rescission of interest accruing at the Post-Default
Rate, which may be rescinded by the Majority Lenders; 
 (iv) no amendment or waiver of any provision under this Agreement or
any other Loan Document that governs the rights and obligations of CP Lenders or their Conduit Support Providers (including this Section 12.5(a)(iv)) (other than amendments and waivers that apply generally to Lenders)
or that specifically relates to CP Conduits shall be effective without the written consent of each CP Lender; and 

  
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 (v) to the extent an amendment or waiver of any provision of this Agreement
directly affects only the Revolving Lenders, then such amendment, modification or waiver shall be effective with the written consent of the Majority Revolving Lenders. 

(b) In addition to the requirements set forth above in Section 12.5(a), in connection with any proposed amendment or
waiver of this Agreement or any other Loan Document pursuant to this Section 12.5, either (1) such proposed amendment or waiver will be effective only upon satisfaction of the Rating Condition or the consent of each
Lender, or (2) if, in the Borrower’s reasonable determination, such proposed amendment or waiver does not have a reasonable likelihood of being adverse to the interests of any Lender, then the Borrower shall, not later than ten Business
Days prior to the execution of such proposed amendment or waiver, deliver to each of the Lenders a copy of such proposed amendment or waiver; provided, in the case of the foregoing clause (2), if any Lender notifies the Borrower prior to
the execution of such proposed amendment or waiver that, based on its reasonable determination such proposed amendment or waiver could adversely affect the interests of any Lender, such proposed amendment or waiver will be effective only upon
satisfaction of the Rating Condition or the consent of each Lender; provided, further, that to the extent such proposed amendment or waiver directly affects only the Revolving Lenders, then for the purposes of the foregoing clause
(1) and the proviso to clause (2), only the consent of each Revolving Lender shall be required. 
 (c) The Borrower shall, promptly
following the execution of any amendment, waiver or supplement to any Loan Document, provide copies thereof to each Lender, the Administrative Agent, the Collateral Agent and S&P. 

(d)
The
 Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission, performance related to Alternate Base Rate, Term SOFR, Benchmark, or with respect to any
alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same
value or economic equivalence of, the existing interest rate being replaced or have the same volume or liquidity as did any existing interest rate prior to its discontinuance or unavailability. The Administrative Agent and its affiliates and/or
other related entities may engage in transactions that affect the calculation of any interest rate used in this Agreement or any alternative, successor or alternative rate (including any Benchmark replacement referred to in the definition of
Benchmark herein) and/or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain any interest rate used in
this Agreement, any component thereof, or rates referenced in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any
kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or
component thereof) provided by any such information source or service so long as the rate (or component thereof) used by the Administrative Agent in connection
therewith is consistent with the such rate (or component thereof) provided by any such information source or
service. 

  
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 Section 12.6 Successors and Assigns. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns, except that the Borrower may not assign or otherwise transfer any of its rights or obligations under this Agreement or the other Loan Documents without the prior written consent of each of the Lenders except as permitted by this Agreement.

 (b) (i) Any Lender may at any time grant to one or more banks, commercial paper conduits or other institutions (each, a
“Participant”) participating interests in any or all of its Loans; provided that each such Participant represents in writing to such Lender that it (and each account for which it is acquiring such participating interest) is a
“qualified purchaser” for purposes of Section 3(c)(7) of the Investment Company Act. In the event of any such grant by a Lender of a participating interest to a Participant, whether or not upon notice to the Borrower and the
Administrative Agent, such Lender shall remain responsible for the performance of its obligations hereunder, and the Borrower and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. An assignment or other transfer which is not permitted by subsection (c) or (d) below shall be given effect for purposes of this Agreement only to the extent of a participating
interest granted in accordance with this subsection (b). 
 (ii) In the event any Lender sells a participation in any or
all of its Loans hereunder, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.9, 11.3 and 11.4 (subject to the requirements and limitations therein, including the
requirements under Section 11.4(d) (it being understood that the documentation required under Section 11.4(d) shall be delivered to the participating Lender)) to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to paragraph (c) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections 11.3(c)
and 11.4(e) as if it were an assignee under paragraph (c) of this Section; and (B) shall not be entitled to receive any greater payment under Sections 11.3 or 11.4, with respect to any
participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable
participation; provided, that with respect to any greater payment under Section 11.3, such Participant shall not be entitled to receive any greater payment than its participating Lender would have been entitled to receive unless the Borrower
has consented to such participation (unless an Event of Default has occurred and is continuing, in which case no such consent shall be required for any greater payment to be received). Each Lender that sells a participation agrees, at the
Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 11.5 with respect to any Participant. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 12.4 as though it were a Lender. 
 (iii) In the event that any Lender
sells participations in any or all of its Loans hereunder, such Lender shall, acting solely for this purposes as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and
address of all Participants in the Loans held by it and the principal amount (and stated interest thereon) of the portion of 

  
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the Loans which is the subject of the participation (the “Participant Register”). A Loan may be participated in whole or in part only by registration of such participation on the
Participant Register. Any participation of such Loan may be effected only by the registration of such participation on the Participant Register. No Lender shall have any obligation to disclose all or any portion of the Participant Register
(including the identity of any Participant or any information relating to a Participant’s interest in any Loans or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish
that such Loan or other obligation is in registered form under Section 5f.103-1(c) or Proposed Section 1.163-5(b) of the United States Treasury Regulations
(or, in each case, any amended or successor version). The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such
participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant
Register. 
 (iv) In the event that any Participant shall be required to cash collateralize its Percentage Share of the
Unfunded Amount on any day prior to the last day of the Reinvestment Period pursuant to the applicable participation agreement, such Unfunded Amount shall be deposited in the Collection Account. On the last day of the Reinvestment Period (except if
the Reinvestment Period terminates as a result of clause (b) or (d) of the definition thereof), any such amount shall be withdrawn from the Collection Account and deposited into the Future Funding Reserve Account, and shall deemed to be a
Future Funding Reserve Loan made in accordance with Section 2.1; provided, that to the extent that any such amounts deposited by a Participant exceed such Participant’s Percentage Share of the Unfunded Amount on the last day of the
Reinvestment Period, such excess shall be returned to the applicable Lender for distribution to such Participant. 
 (c) (i) With the prior
written consent of the Administrative Agent (such consent not to be unreasonably withheld) and the Borrower (provided that such consent will not be required for an assignment to any existing Lender or Affiliate of a Lender or any assignment
during the existence of an Event of Default or with respect to any assignment from a CP Lender to any other CP Lender that is an affiliate or under common program management with the assigning CP Lender), any Lender may at any time
assign to one or more banks, CP Conduits or other financial institutions (each, an “Assignee”) all or any portion of its rights and obligations under this Agreement, the Notes and the other Loan Documents, and such Assignee
shall assume such rights and obligations, pursuant to an Assignment and Assumption executed by such Assignee and such transferor Lender; provided that such assignment is in an amount which is at least $10,000,000 or a multiple of $1,000,000
in excess thereof (or the remainder of such Lender’s Loans); provided, further that after giving effect to such assignment, unless the Borrower shall have provided its prior written consent thereto, Société
Générale and its Affiliates shall hold, collectively, more than 50% of the aggregate Undrawn Commitments and aggregate principal amount of all of the Loans outstanding at such time. 

  
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 (ii) Upon execution and delivery of such instrument and payment by such
Assignee to such transferor Lender of an amount equal to the purchase price agreed between such transferor Lender and such Assignee, such Assignee (and if the Assignee is a Conduit Assignee, any Related CP Issuer, if such Conduit Assignee does
not itself issue commercial paper) shall be a party to this Agreement and shall have all the rights, protections and obligations of a Lender with Commitments as set forth in such instrument of assumption, and the transferor Lender shall be released
from its obligations hereunder to a corresponding extent, and no further consent or action by any party shall be required. Upon the consummation of any assignment pursuant to this subsection (c), the transferor Lender, the Administrative Agent
and the Borrower shall make appropriate arrangements so that, if required, a new Note is issued to the Assignee. In connection with any such assignment, the transferor Lender shall pay to the Administrative Agent an administrative fee for processing
such assignment in the amount of $2,500 (unless such fee is waived by the Administrative Agent). Each Assignee shall deliver to the Borrower and the Administrative Agent the relevant form or certification in accordance with
Section 11.4(d). 
 (iii) For the avoidance of doubt, the Borrower may, but shall have no
obligation to, amend, modify or supplement any Loan Document as requested or required by S&P in connection with any such assignment. 

(d) Any Lender may at any time assign all or any portion of its rights under this Agreement and its Note to a Federal Reserve Bank. No such
assignment shall release the transferor Lender from its obligations hereunder. Promptly upon being notified in writing of such transfer, the Administrative Agent shall notify the Borrower thereof. 

(e) No Assignee or Participant of any Lender’s rights shall be entitled to receive any greater payment under
Section 11.3 or 11.4 than such Lender would have been entitled to receive with respect to the rights transferred, unless such transfer is made by reason of the provisions of
Section 11.2, 11.3(e) or 11.4 requiring such Lender to designate a different Applicable Lending Office under certain circumstances or the circumstances giving rise to such greater payment did not exist at
the time of the transfer or except to the extent such entitlement to receive a greater payment results from a change in law that occurs after such Assignee or Participant acquired the applicable interest. 

(f) The Administrative Agent, acting as non-fiduciary agent (solely for this purpose) of the Borrower,
shall maintain at one of its offices in New York City, New York a copy of each Assignment and Assumption delivered to it and a register (the “Register”) for the recordation of the names and addresses of the Lenders, and
the Commitments of, and the principal amount (and stated interest thereon) of the Loans owing to each Lender from time to time. The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Agents and the Lenders shall
treat each Person whose name is recorded in the Register as the owner of a Loan or Note hereunder as the owner thereof for all purposes of this Agreement, notwithstanding any notice to the contrary. Any assignment of any Loan or Note hereunder shall
be effective only upon appropriate entries with respect thereto being made in the Register. If any assignment or transfer of all or any part of a Loan that is then evidenced by a Note is made, such assignment or transfer shall be registered on the
Register only upon surrender for registration of assignment or transfer of the related Note, duly endorsed by (or accompanied by a written instrument of assignment or transfer duly executed by) the holder thereof, and thereupon one or more new
Note(s) in the same aggregate principal amount shall be issued to the designated Assignee(s) (and, if applicable, assignor) and the old Note shall be returned to the Borrower marked “cancelled”. The Register

  
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shall be available for inspection by the Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice. The Administrative Agent shall provide to the Collateral
Agent from time to time at the request of the Collateral Agent information related to the Lenders (including, without limitation, all wire instructions and other information necessary for distributions to the Lenders hereunder). 

Section 12.7 Collateral; QP Status. Each of the Lenders represents to the Administrative Agent, the Collateral Agent, each of the
other Lenders, and the Borrower that (i) it (and each account for which it is acquiring a Loan) is a “qualified purchaser” for purposes of Section 3(c)(7) of the Investment Company Act and (ii) it in good faith (and in
reliance on the accuracy as to factual matters of the representations contained in the first two sentences of Section 4.10) is not relying upon any Margin Stock as collateral in the extension or maintenance of the credit
provided for in this Agreement. For the avoidance of doubt, the parties hereunder intend that the advances made pursuant to this Agreement constitute loans and not securities. 

Section 12.8 Governing Law; Submission to Jurisdiction. 

(a) THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 (b) Any legal action or proceeding with respect to this
Agreement or any other Loan Document and any action for enforcement of any judgment in respect thereof may be brought in the courts of the State of New York sitting in the Borough of Manhattan or of the United States of America for the Southern
District of New York, and, by execution and delivery of this Agreement, each party hereto hereby accepts for itself and in respect of its property, generally and unconditionally, the non-exclusive
jurisdiction of the aforesaid courts and appellate courts from any thereof. Each party hereto irrevocably consents to the service of process out of any of the aforementioned courts in any such action or proceeding by the hand delivery, or mailing of
copies thereof by registered or certified mail, postage prepaid, to each party hereto at its respective address on the signature pages hereto. Each party hereto hereby irrevocably waives, to the extent permitted by Applicable Law, any objection
which it may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Agreement or any other Loan Document brought in the courts referred to above and hereby further
irrevocably waives, to the extent permitted by Applicable Law, and agrees not to plead or claim in any such court that any such action or proceeding brought in any such court has been brought in an inconvenient forum. Nothing herein shall affect the
right of either Agent, any Lender, any holder of a Note to serve process in any other manner permitted by law or to commence legal proceedings or otherwise proceed against the Borrower in any other jurisdiction. 

Section 12.9 Marshalling; Recapture. Neither the Administrative Agent, the Collateral Agent nor any Lender shall be under any
obligation to marshal any assets in favor of the Borrower or any other party or against or in payment of any or all of the Obligations. To the extent any Lender receives any payment by or on behalf of the Borrower, which payment or any part thereof
is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to the Borrower or its estate, trustee, receiver, custodian or any other party 

  
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under any bankruptcy law, state or federal law, common law or equitable cause, then to the extent of such payment or repayment, the Obligation or part thereof which has been paid, reduced or
satisfied by the amount so repaid shall be reinstated by the amount so repaid and shall be included within the liabilities of the Borrower to such Lender, as of the date such initial payment, reduction or satisfaction occurred. 

Section 12.10 Counterparts; Integration; Effectiveness. This Agreement may be signed in any number of counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement constitutes the entire agreement and understanding among the parties hereto and supersedes any and all prior agreements
and understandings, oral or written, relating to the subject matter hereof. This Agreement shall become effective upon receipt by the Administrative Agent of counterparts hereof signed by each of the parties hereto (which counterparts may be
delivered by facsimile or email transmission). 
 Section 12.11 Waiver of Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE LAW,
EACH OF THE BORROWER, THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVES 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 12.12 Survival. All indemnities set forth herein shall survive the execution and delivery of this Agreement
and the other Loan Documents, any assignment pursuant to Section 12.6 and the making and repayment of the Loans hereunder. 

Section 12.13 Domicile of Loans. Each Lender may transfer and carry its Loans at, to or for the account of any domestic or foreign
branch office, subsidiary or affiliate of such Lender. 
 Section 12.14 Limitation of Liability. No claim may be made by the
Borrower, the Services Provider or any other Person against the Administrative Agent, the Collateral Agent or any Lender or the affiliates, directors, officers, employees, attorneys or agents of any of them for any consequential or punitive damages
in respect of any claim for breach of contract or any other theory of liability arising out of or related to the transactions contemplated by this Agreement or by the other Loan Documents, or any act, omission or event occurring in connection
therewith; and each of the Borrower and the Services Provider hereby waives, releases and agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not known or suspected to exist in its favor. 

Section 12.15 Recourse; Non-Petition. 

(a) All obligations, covenants and agreements of Borrower contained in or evidenced by this Agreement, the Notes and any Loan Document shall
be fully recourse to the Borrower and each and every asset of Borrower. Notwithstanding the foregoing, no recourse under or upon any obligation, covenant, or agreement contained in this Agreement, the Notes or any Loan Document shall be had against
any officer, director, limited liability company manager, 

  
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limited partner, member, agent or employee (solely by virtue of such capacity) of the Borrower (a “Non-Recourse Party”) and no such
Non-Recourse Party shall be personally liable for payment of the Loans or other amounts due in respect thereof (all such liability being expressly waived and released by each Lender and the Agents). 

(b) Each Lender and each Agent hereby agrees that it will not institute against the Borrower any proceeding seeking a judgment of insolvency
or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, present a petition for the winding-up or liquidation of the Borrower or seek the
appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for the Borrower or for all or substantially all of the assets of the Borrower prior to the date that is one year and one
day (or, if longer, the applicable preference period then in effect) after the payment in full of all Obligations and any securities issued by the Borrower that refinance any of the Obligations. Additionally, none of the Borrower shall be entitled
to petition or take any other steps for the winding up or bankruptcy of the other of the Borrower. In the event that, notwithstanding the provisions of this Agreement and the other Loan Documents relating to
“non-petition” of the Borrower, the Borrower becomes a debtor in a bankruptcy case by the involuntary petition of any other Person, of the Borrower hereby covenants to contest any such petition to
the fullest extent permitted by law. The obligations under this Section 12.15(b) shall survive the termination of this Agreement and the payment of the Obligations. 

Section 12.16 Confidentiality. 

(a) Each of the Lenders and the Agents agrees that it shall maintain confidentiality with regard to nonpublic information concerning the
Borrower, the Collateral Loans, any Obligor, the Retention Holder or the Services Provider obtained pursuant to or in connection with this Agreement or any other Loan Document; provided that the Lenders and the Agents shall not be precluded
from making disclosure regarding such information: (i) to the Lenders’ and Agents’ counsel, accountants and other professional advisors (it being understood that the Persons to which such disclosure is made will be informed of the
confidential nature of such information and instructed to keep such information confidential); (ii) to officers, directors, employees, examiners, agents and partners of each Lender and the Agents and their Affiliates who need to know such
information in accordance with customary practices for Lenders of such type (it being understood that the Persons to which such disclosure is made will be informed of the confidential nature of such information and instructed to keep such
information confidential); (iii) in response to a subpoena or order of a court or governmental agency or regulatory authority (including bank examiners); (iv) to any entity participating or considering participating in any credit made
under this Agreement, (provided that the Lenders and Agents shall require that any such entity agree in writing to be subject to this Section 12.16, however, the Lenders and Agents shall have no duty to monitor any
participating entity and shall have no liability in the event that any participating entity violates this Section 12.16); (v) as required by law or legal process, GAAP or applicable regulation; (vi) as reasonably
necessary in connection with the exercise of any remedy hereunder or under any other Loan Document to the extent the Person that receives such information agrees in writing to be subject to this Section 12.16; (vii) to
any Rating Agency then rating the Loans or any Conduit Rating Agency; or (viii) to any Program Manager, Conduit Support Provider or administrator of a CP Lender or Affiliate thereof who needs to know such information (provided that
each such Person referred to in this clause (viii) agrees to be bound by 

  
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the terms of this confidentiality agreement). In connection with enforcing its rights pursuant to this Section 12.16, the Borrower shall be entitled to the equitable
remedies of specific performance and injunctive relief against the Agents, any Lender or any subsequent party that agrees to be bound hereto which shall breach the confidentiality provisions of this Section 12.16. 

(b) Notwithstanding any contrary agreement or understanding, the Services Provider, the Borrower, the Agents and the Lenders (and each of
their respective employees, representatives or other agents) may disclose to any and all Persons the tax treatment and tax structure of the transactions contemplated by this Agreement (and, for the avoidance of doubt, only those transactions
contemplated by this Agreement) and all materials of any kind (including opinions or other tax analyses) that are provided to them relating to such tax treatment and tax structure. The foregoing provision shall apply from the beginning of
discussions between the parties hereto. For this purpose, the tax treatment of a transaction is the purported or claimed U.S. tax treatment of the transaction under applicable U.S. federal, state or local law, and the tax structure of a
transaction is any fact that may be relevant to understanding the purported or claimed U.S. tax treatment of the transaction under applicable U.S. federal, state or local law. 

(c) The Borrower hereby acknowledges that the Administrative Agent may, but shall not be obligated to, make available to the Lenders materials
and/or information provided by or on behalf of Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on DebtDomain, IntraLinks, Syndtrak or another similar electronic system (the
“Platform”). The Borrower may in its discretion clearly and conspicuously mark certain Borrower Materials “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page
thereof. By marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders to treat such Borrower Materials as not containing any material nonpublic information with respect to
the Borrower or its securities for purposes of United States Federal and state securities laws. All Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated for “Public Side
Information.” The Administrative Agent shall treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform designated for “Private Side Information.” 

Section 12.17 Special Provisions Applicable to CP Lenders. 

(a) Each of the parties hereto (each, a “Restricted Person”) hereby covenants and agrees that it will not institute against
any CP Lender, or encourage, cooperate with or join any other Person in instituting against any CP Lender, any proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other
similar law affecting creditors’ rights, present a petition for the winding up or liquidation of any CP Lender or seek the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar
official for any CP Lender or for all or substantially all of its assets prior to the date that is two years and a day (or, if longer, the applicable preference period then in effect) after the last day on which any Commercial Paper Notes shall
have been outstanding. The provisions of this Section 12.17(a) shall survive the termination of this Agreement and the payment of the Obligations. 

  
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 (b) Provided that a Restricted Person has complied with
Section 12.17(a), nothing in clause (a) above shall limit the right of such Restricted Person to file any claim in or otherwise take any action with respect to any proceeding of the type described in clause (a)
above that was instituted against any CP Lender by any person other than such Restricted Person. 
 (c) Notwithstanding anything to the
contrary contained herein, the obligations of any CP Lender under this Agreement are solely the corporate obligations of such CP Lender and, in the case of obligations of any CP Lender other than Commercial Paper Notes, shall be
payable at such time as funds are received by or are available to such CP Lender in excess of funds necessary to pay in full all outstanding Commercial Paper Notes or other short-term funding backing its
Commercial Paper Notes and, to the extent funds are not available to pay such obligations, the claims relating thereto shall not constitute a claim against such CP Lender but shall continue to accrue. Each party hereto agrees that the payment
of any claim (as defined in Section 101 of the Bankruptcy Code) of any such party shall be subordinated to the payment in full of all Commercial Paper Notes and other short-term funding backing its
Commercial Paper Notes. The provisions of this Section 12.17(c) shall survive the termination of this Agreement and the payment of the Obligations. 

(d) No recourse under any obligation, covenant or agreement of any CP Lender contained in this Agreement shall be had against any
incorporator, stockholder, officer, director, employee or agent of such CP Lender or any agent of such CP Lender or any of their Affiliates (solely by virtue of such capacity) by the enforcement of any assessment or by any legal or
equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that this Agreement is solely a corporate obligation of any such CP Lender individually, and that no personal liability whatever shall attach
to or be incurred by any incorporator, stockholder, officer, director, employee or agent of such CP Lender or any agent thereof or any of their Affiliates (solely by virtue of such capacity) or any of them under or by reason of any of the
obligations, covenants or agreements of such CP Lender contained in this Agreement, or implied therefrom, and that any and all personal liability for breaches by any CP Lender of any of such obligations, covenants or agreements, either at
common law or at equity, or by statute, rule or regulation, of every such incorporator, stockholder, officer, director, employee or agent is hereby expressly waived as a condition of and in consideration for the execution of this Agreement;
provided that the foregoing shall not relieve any such Person from any liability it might otherwise have as a result of fraudulent actions taken or omissions made by them. The provisions of this Section 12.17(d)
shall survive termination of this Agreement and the payment of the Obligations. 
 (e) Each CP Lender may act hereunder by and through
its Program Manager, its administrator or its funding agent, as applicable. 
 (f) Each of the parties hereto waives any right to set-off and to appropriate and apply any and all deposits and any other indebtedness at any time held or owing thereby to or for the credit or the account of any CP Lender against and on account of the
obligations and liabilities of such CP Lender to such party under this Agreement. The provisions of this Section 12.17(f) shall survive the termination of this Agreement and the payment of the Obligations. 

  
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 (g) Notwithstanding anything to the contrary herein, each CP Lender may disclose to its
respective Conduit Support Providers, any Affiliates of any such party and governmental authorities having jurisdiction over such CP Lender, Conduit Support Provider, any Affiliate of such party and any Conduit Rating Agency (including its
professional advisors), the identities of (and other material information regarding) the Borrower, any other obligor on, or in respect of, a Loan made by such CP Lender, Collateral for such Loan and any of the terms and provisions of the Loan
Documents that it may deem necessary or advisable. 
 (h) No pledge and/or collateral assignment by any CP Lender to a Conduit Support
Provider of an interest in the rights of such CP Lender in any Loan made by such CP Lender and the Obligations shall constitute an assignment and/or assumption of such CP Lender’s obligations under this Agreement, such
obligations in all cases remaining with such CP Lender. Moreover, any such pledge and/or collateral assignment of the rights of such CP Lender shall be permitted hereunder without further action or consent and any such pledgee may
foreclose on any such pledge and perfect an assignment of such interest and enforce such CP Lender’s right hereunder notwithstanding anything to the contrary in this Agreement. 

Section 12.18 Direction of Collateral Agent. By executing this Agreement, each Lender hereby consents to the terms of this
Agreement and to the Collateral Agent’s execution and delivery of this Agreement and the other Loan Documents to which it is a party, and acknowledges and agrees that the Collateral Agent shall be fully protected in relying upon the foregoing
consent and direction and hereby releases the Collateral Agent and its respective officers, directors, agents, employees and shareholders, as applicable, from any liability for complying with such direction, except as a result of the bad faith,
gross negligence or willful misconduct of the Collateral Agent. 
 Section 12.19 Borrowings/Loans Made in the Ordinary Course of
Business. The Borrower and each Lender, each as to itself only, represents, warrants and covenants that each payment by the Borrower to such Lender under this Agreement will have been made (i) in payment of a debt incurred by the Borrower
or a loan made by such Lender, respectively, and (ii) in the ordinary course of business or financial affairs of the Borrower and each Lender. 

Section 12.20 Acknowledgement and Consent to Bail-In of Affected Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any
Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any party hereto that is an Affected Financial Institution; and 
 (b) the effects of any Bail-In Action on any such liability, including, if applicable: 
 (i) a reduction in full
or in part or cancellation of any such liability; 

  
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 (ii) a conversion of all, or a portion of, such liability into shares or
other instruments of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by
it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or 
 (iii) the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority. 

Section 12.21 PATRIOT Act. Each Lender that is subject to the requirements of the PATRIOT Act notifies the Borrower that, pursuant
to the requirements of the PATRIOT Act, it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender to
identify the Borrower in accordance with the PATRIOT Act. 
 Section 12.22 Severability. If any provision of this Agreement is
held to be illegal, invalid, or unenforceable under present or future laws effective during the term of this Agreement, such provision shall be fully severable and this Agreement shall be construed and enforced as if such illegal, invalid or
unenforceable provision had never comprised a part of this Credit Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its
severance from this Agreement, unless such continued effectiveness of this Agreement, as modified, would be contrary to the basic understandings and intentions of the parties as expressed herein. If any provision of this Agreement shall conflict
with or be inconsistent with any provision of any of the other Loan Documents, then the terms, conditions and provisions of this Agreement shall prevail. 

ARTICLE XIII 
 ASSIGNMENT
OF CORPORATE SERVICES AGREEMENT AND SALE AND CONTRIBUTION AGREEMENT 
 Section 13.1 Assignment of Corporate Services Agreement
and Sale and Contribution Agreement. 
 (a) The Borrower hereby acknowledges that its Grant pursuant to the Granting Clause hereof
includes all of the Borrower’s estate, right, title and interest in, to and under the Corporate Services Agreement and the Sale and Contribution Agreement including (i) the right to give all notices, consents and releases thereunder,
(ii) the right to take any legal action upon the breach of an obligation of the Services Provider under the Sale and Contribution Agreement or the Seller under the Sale and Contribution Agreement, including the commencement, conduct and
consummation of proceedings at law or in equity, (iii) the right to receive all notices, accountings, consents, releases and statements thereunder and (iv) the right to do any and all other things whatsoever that the Borrower is or may be
entitled to do thereunder; provided that notwithstanding anything herein to the contrary, the Agents shall not have the authority to exercise any of the rights set forth in (i) through (iv) above or that may otherwise arise as a
result of the Grant until the occurrence of an Event of Default hereunder and such authority shall terminate at such time, if any, as such Event of Default is cured or waived (so long as the exercise of remedies has not commenced or such Event of
Default has been waived following the commencement of the exercise of remedies). 

  
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 (b) The assignment made hereby is executed as collateral security, and the execution and
delivery hereby shall not in any way impair or diminish the obligations of the Borrower under the provisions of the Corporate Services Agreement, Sale and Contribution Agreement or the other documents referred to in clause (a) above, nor shall
any of the obligations contained in Corporate Services Agreement, or such other documents be imposed on the Agents. 
 (c) Upon the
occurrence of the Stated Maturity (or, if earlier, the payment in full of all of the Obligations), the payment of all amounts required to be paid pursuant to the Priority of Payments and the release of the Collateral from the lien of this Agreement,
this assignment and all rights herein assigned to the Collateral Agent for the benefit of the Lenders shall cease and terminate and all the estate, right, title and interest of the Collateral Agent in, to and under the Corporate Services Agreement,
the Sale and Contribution Agreement and the other documents referred to in this Section 13.1 shall revert to the Borrower and no further instrument or act shall be necessary to evidence such termination and reversion. 

(d) The Borrower represents that it has not executed any other assignment of the Corporate Services Agreement or the Sale and Contribution
Agreement. 
 (e) The Borrower agrees that this assignment is irrevocable until the Obligations have been repaid in full, and that it will
not take any action which is inconsistent with this assignment or make any other assignment inconsistent herewith. The Borrower will, from time to time, execute all instruments of further assurance and all such supplemental instruments with respect
to this assignment as may be necessary to continue and maintain the effectiveness of such assignment. 
 (f) The Borrower hereby agrees, and
hereby undertakes to obtain the agreement and consent of the Services Provider in the Corporate Services Agreement and, as applicable, the Seller in the Sale and Contribution Agreement, to the following: 

(i) The Services Provider shall consent to the provisions of this assignment and agree to perform any provisions of this
Agreement applicable to the Services Provider subject to the terms of the Corporate Services Agreement, and the Seller shall consent to the provisions of this assignment and agree to perform any provisions of this Agreement applicable to the Seller
subject to the terms of the Sale and Contribution Agreement. 
 (ii) The Services Provider shall acknowledge that the
Borrower is collaterally assigning all of its right, title and interest in, to and under the Corporate Services Agreement to the Collateral Agent for the benefit of the Secured Parties, and the Seller shall acknowledge that the Borrower is
collaterally assigning all of its right, title and interest in, to and under the Sale and Contribution Agreement to the Collateral Agent for the benefit of the Secured Parties, in each case subject to the proviso in
Section 13.1(a). 
 (iii) The Services Provider shall deliver to the Agents copies of all notices,
statements, communications and instruments delivered or required to be delivered by the Services Provider to the Borrower pursuant to the Corporate Services Agreement, and the Seller shall deliver to the Agents copies of all notices, statements
communications and instruments delivered or required to be delivered by the Seller to the Borrower pursuant to the Sale and Contribution Agreement. 

  
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 (iv) Neither the Borrower nor the Services Provider will enter into any
agreement amending, modifying or terminating the Corporate Services Agreement without complying with the applicable terms thereof, and neither the Borrower nor the Seller will enter into any agreement amending, modifying or terminating the Sale and
Contribution Agreement without complying with the applicable terms thereof. 
 (v) Both the Services Provider and the Seller
agree not to cause the filing of a petition in bankruptcy against the Borrower for the nonpayment of the fees or other amounts payable by the Borrower to the Services Provider under the Corporate Services Agreement or to the Seller under the Sale
and Contribution Agreement, as applicable, until the payment in full of all of the Obligations and the expiration of a period equal to one year and a day, or, if longer, the applicable preference period, following such payment. Nothing in this
Section 13.1 shall preclude, or be deemed to stop, the Services Provider or the Seller (i) from taking any action prior to the expiration of the aforementioned period in (A) any case or Proceeding voluntarily
filed or commenced by the Borrower or (B) any involuntary insolvency Proceeding filed or commenced by a Person other than the Services Provider, the Seller or any of their respective Affiliates or (ii) from commencing against the Borrower
or any of its properties any legal action which is not a bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceeding. 

(vi) In exercising its discretion under the Loan Documents, the Services Provider shall, and shall ensure that the
Parent’s investment advisor will, act in accordance with their generally applicable policies regarding conflicts of interest. 

ARTICLE XIV 
 THE
DOCUMENT CUSTODIAN 
 Section 14.1 The Document Custodian. 

(a) Appointment. Cortland Capital Market Services LLC is hereby appointed as Document Custodian in accordance for the terms
herein. The Document Custodian hereby accepts such appointment and agrees to perform the duties and obligations with respect thereto set forth herein for the benefit of the Secured Parties until its removal or resignation as Document Custodian
pursuant to the terms hereof. The Administrative Agent hereby designates and appoints the Document Custodian to act as its agent and hereby authorizes the Document Custodian to take such actions on its behalf and to exercise such powers and perform
such duties as are expressly granted to the Document Custodian by this Agreement. The rights, protections, immunities and indemnities afforded to the Collateral Agent under this Agreement shall also be afforded to the Document Custodian. 

  
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 (b) Delivery of Related Contracts. In connection with each Collateral Loan included
in the Collateral as of the Closing Date, and promptly following the acquisition of a Collateral Loan after the date hereof, the Borrower shall deliver, or cause to be delivered, to the Document Custodian the Related Contracts in respect of each
Collateral Loan in physical or electronic form, as applicable; provided that for the avoidance of doubt, any Related Contracts which constitute securities required to be delivered by the Borrower under Section 8.7(b)
or (c) shall be delivered to the Custodian in accordance with such Section. In connection with delivery of any Related Contracts to the Document Custodian for any Collateral Loan, the Borrower (or the Services Provider on behalf of the
Borrower) shall deliver a Document Checklist (or, if applicable, an updated Document Checklist) for such Collateral Loan. All Related Contracts that are delivered to the Document Custodian shall be delivered to the Document Custodian at its document
custody office located Cortland Capital Market Services LLC, 225 W. Washington St., 9th Floor, Chicago, IL 60606, Attention: Doc Custody and Legal Department, or at such other office as shall be specified to the Borrower, the
Services Provider, the Collateral Agent and the Administrative Agent by the Document Custodian in a written notice prior to such change (such office, the “Document Custodian Office”). The Document Custodian shall have no obligation
to review or monitor any Related Contracts but shall only be required to hold those Related Contracts received by it in safekeeping. 
 (c)
Duties. From the Closing Date until its resignation or removal pursuant to Section 14.9, the Document Custodian shall perform the following duties and obligations: 

(i) The Document Custodian shall accept delivery and retain custody of the Related Contracts listed on the related Document
Checklist delivered by the Borrower pursuant to clause (b) above in accordance with the terms and conditions of this Agreement, all for the benefit of the Secured Parties. All Related Contracts shall be kept in fire resistant vaults, rooms or
cabinets at the Document Custodian Office. All Related Contracts shall be placed together with an appropriate identifying label and maintained in such a manner so as to permit retrieval and access. The Document Custodian shall segregate the Related
Contracts on its inventory system and will not commingle the physical Related Contracts with any other files of the Document Custodian other than those, if any, relating to the Borrower and its subsidiaries. 

(ii) In taking and retaining custody of the Related Contracts, the Document Custodian shall be deemed to be acting as the agent
of the Secured Parties; provided that, the Document Custodian makes no representations as to the existence, perfection, enforceability or priority of any Lien on the Related Contracts or the instruments therein or as to the adequacy or
sufficiency of such Related Contracts; provided further that the Document Custodian’s duties shall be limited to those expressly contemplated herein. 

(iii) On or promptly following the Closing Date, the Document Custodian shall provide the Collateral Agent, the Administrative
Agent, the Borrower and the Services Provider access to an electronic database maintained by the Document Custodian, which such database shall identify the Related Contracts delivered to the Document Custodian per the Document Checklist. 

  
 -176- 

 (iv) Notwithstanding any provision to the contrary elsewhere in the Loan
Documents, the Document Custodian shall not have or be deemed to have any fiduciary relationship with any party hereto or any Secured Party in its capacity as such, and no implied covenants, functions, obligations or responsibilities shall be read
into this Agreement, the other Loan Documents or otherwise exist against the Document Custodian. Without limiting the generality of the foregoing, it is hereby expressly agreed and stipulated by the other parties hereto that the Document Custodian
shall not be required to exercise any discretion hereunder and shall have no investment or management responsibility. The Document Custodian shall not be deemed to assume any obligations or liabilities of the Borrower, the Administrative Agent or
Collateral Agent hereunder or under any other Loan Document. 
 (v) After the occurrence and during the continuance of an
Event of Default, the Document Custodian agrees to cooperate with the Collateral Agent (acting at the direction of the Majority Lenders) and promptly deliver any Related Contracts to the Collateral Agent as requested in order to take any action that
the Majority Lenders deem necessary or desirable in order for the Collateral Agent to perfect, protect or more fully evidence the security interests granted by the Borrower hereunder, or to enable any of them to exercise or enforce any of their
respective rights hereunder. In the event the Document Custodian receives instructions from the Services Provider or the Borrower which conflict with any instructions received from the Collateral Agent (acting at the direction of the Majority
Lenders) at any time other than following the occurrence and during the continuance of an Event of Default, the Document Custodian shall rely on and follow the instructions given by the Collateral Agent. After the occurrence and during the
continuance of an Event of Default, the Document Custodian shall rely on and follow only the instructions given by the Collateral Agent and shall not follow any instructions given by the Borrower or the Services Provider. 

(vi) The Collateral Agent or the Administrative Agent (each acting at the direction of the Majority Lenders) may direct the
Document Custodian in writing to take any action incidental to its duties hereunder. With respect to other actions which are incidental to the actions specifically delegated to the Document Custodian hereunder, the Document Custodian shall not be
required to take any such incidental action hereunder, but shall be required to act or to refrain from acting (and shall be fully protected in acting or refraining from acting) upon the direction of the Collateral Agent or Administrative Agent, as
applicable; provided that the Document Custodian shall not be required to take any such action at the direction of the Administrative Agent, the Collateral Agent, any Secured Party or otherwise if the taking of such action, in the reasonable
determination of the Document Custodian, (x) shall be in violation of any Applicable Law or contrary to any provisions of this Agreement or (y) shall expose the Document Custodian to liability hereunder (unless it has been provided with an
indemnity agreement (including the indemnity provisions contained herein and in the other Loan Documents) which it reasonably deems to be satisfactory with respect thereto). In the event the Document Custodian requests the consent of the
Administrative Agent or Collateral Agent, as applicable, and the Document Custodian does not receive a consent (either positive or negative) from the Administrative Agent or the Collateral Agent, as applicable, within 10 Business Days of its receipt
of such request, then the Administrative Agent or the Collateral Agent, as applicable, shall be deemed to have declined to consent to the relevant action. 

  
 -177- 

 (vii) The Document Custodian shall not be liable for any action taken,
suffered or omitted by it in accordance with the request or direction of any Secured Party, to the extent that this Agreement provides such Secured Party the right to so direct the Document Custodian or the Administrative Agent or Collateral Agent.
The Document Custodian shall not be deemed to have notice or knowledge of any matter hereunder, including an Event of Default, unless an Administrative Officer of the Document Custodian has received written notice from a Lender or the Borrower
referring to this Agreement, describing such Event of Default, and stating that such notice is a “Notice of Event of Default.” In the absence of receipt of such notice, the Document Custodian may conclusively assume that there is no Event
of Default. 
 Section 14.2 Document Custodian Compensation. As compensation for its custodial activities hereunder, the
Document Custodian shall be entitled to compensation from the Borrower as set forth in the Document Custodian Fee Letter. The Document Custodian’s entitlement to receive such compensation shall cease on the earlier to occur of (i) the
effective date of its removal as Document Custodian pursuant to Section 14.9 of this Agreement, (b) the effective date of its resignation as Document Custodian pursuant to Section 14.9 of this
Agreement or (c) the termination of this Agreement; provided that, for the avoidance of doubt, the Document Custodian shall remain entitled to receive, as and when such amounts are payable under the terms of this Agreement, any unpaid
fees prior to the release of all Related Contracts from the custody of the Document Custodian. 
 Section 14.3 Limitation on
Liability. 
 (a) The Document Custodian may conclusively rely on and shall be fully protected in acting upon any certificate,
instrument, opinion, notice, instruction, statement, request, waiver, consent, report, letter or other document delivered to it and that in good faith it reasonably believes to be genuine and that has been signed by the proper party or parties. The
Document Custodian shall not be bound to make any independent investigation into the facts or matters stated in any such notice, instruction, statement certificate, request, waiver, consent, opinion, report, receipt or other paper or document. The
Document Custodian may rely conclusively on and shall be fully protected in acting upon the written instructions of the Administrative Agent or the Collateral Agent, as applicable, and no party shall have any right of action whatsoever against the
Document Custodian as a result of the Document Custodian acting or (where so instructed) refraining from acting hereunder in accordance with the instructions of the Administrative Agent or the Collateral Agent. The Document Custodian may consult
counsel satisfactory to it and the advice or opinion of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. 
 (b) Neither the Document Custodian nor any of its directors, officers, agents, or employees shall be liable for
any error of judgment, or for any action taken or omitted to be taken by it or them as Document Custodian under or in connection with this Agreement, except for its or their own gross negligence or willful misconduct (each as determined in a final, non-appealable judgment by a court of competent jurisdiction). 

  
 -178- 

 (c) The Document Custodian makes no warranty or representation and shall have no
responsibility (except as expressly set forth in this Agreement) as to the content, enforceability, completeness, validity, sufficiency, value, genuineness, ownership or transferability of the Related Contracts, the Collateral Loans or any other
Collateral, and will not be required to and will not make any representations as to the validity or value of any of the Collateral. 
 (d)
It is expressly agreed and acknowledged that the Document Custodian is not guaranteeing performance of or assuming any liability for the obligations of the other parties hereto or any other Loan Document. In case any reasonable question arises as to
its duties hereunder, the Document Custodian may, prior to the occurrence of an Event of Default, request instructions from the Borrower or the Services Provider and may, after the occurrence of an Event of Default, request instructions from the
Administrative Agent or the Collateral Agent (each on behalf of the Majority Lenders), and shall be entitled at all times to refrain from taking any action unless it has received instructions from such Persons, as applicable. The Document Custodian
shall in all events have no liability, risk or cost for any action taken pursuant to and in compliance with the instruction of the Administrative Agent or the Collateral Agent. In no event shall the Document Custodian be liable for punitive,
special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Document Custodian has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(e) The Document Custodian shall have no responsibilities or duties with respect to any Related Contract while such Related Contract is not in
its possession. 
 Section 14.4 Document Custodian Resignation. Upon the effective date of the Document Custodian’s
resignation pursuant to Section 14.9, or if the Document Custodian is given written notice of an earlier termination hereof pursuant to Section 14.9, the Document Custodian shall (i) deliver
all of the Related Contracts in the possession of Document Custodian to the successor Document Custodian, and (ii) be reimbursed for any costs and expenses Document Custodian shall incur in connection with the termination of its duties under
this Agreement. 
 Section 14.5 Release of Documents. 

(a) Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the
related Collateral, so long as no Event of Default then exists, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the
Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, Collateral Agent, and Document Custodian) of a request for release of documents and
receipt in the form annexed hereto as Exhibit H, to release to the Services Provider within five Business Days of receipt of such request, the relevant Related Contracts set forth in such request. All documents so released
to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider shall return to the Document
Custodian the Related Contracts when the Services Provider’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral shall be liquidated, in which case, an authorized

  
 -179- 

 
representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent,
Collateral Agent, and Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider to the Collateral Agent and the Document Custodian,
all in the form annexed hereto as Exhibit H. 
 (b) Limitation on Release. During the occurrence and
continuance of an Event of Default, the foregoing clause (a) with respect to the release to the Services Provider of the Related Contracts by the Document Custodian upon written receipt from an authorized representative of the Services Provider
of a request for release of documents and receipt in the form annexed hereto as Exhibit H, shall be operative only to the extent that the Administrative Agent (acting at the direction of the Majority Lenders) has consented to such release by
signing the request. Promptly after delivery to the Document Custodian of any request for release of documents, in the form of Exhibit H, the Services Provider shall provide notice of the same to the Administrative Agent. 

(c) Release for Payment. Upon receipt by the Document Custodian of the Services Provider’s request for release of documents and
receipt in the form annexed hereto as Exhibit H (which certification shall include a statement to the effect that all amounts received in connection with any liquidation have been credited to the Collection Account), the
Document Custodian shall promptly release the relevant Related Contracts to the Services Provider. 
 (d) Shipment of Related
Contracts. Written instructions as to the method of shipment and shipper(s) the Document Custodian is requesting to utilize in connection with the transmission of Related Contracts in the performance of the Document Custodian’s duties
hereunder shall be delivered by the Borrower, the Services Provider or the Majority Lenders to the Document Custodian prior to any shipment of any Related Contracts hereunder. The Services Provider shall arrange for the provision of such services at
the cost and expense of the Borrower (or, at the Document Custodian’s option, the Borrower shall reimburse the Document Custodian for all reasonable and documented costs and expenses of the Document Custodian consistent with such instructions)
and shall maintain such insurance against loss or damage to the Related Contracts as the Services Provider deems appropriate. 

Section 14.6 Return of Related Contracts. An authorized representative of the Services Provider (as listed on Exhibit K, as
such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, Collateral Agent, and Document Custodian) may request that the Document Custodian return each Related Contract that is (a) delivered
to the Document Custodian in error or (b) released from the Lien of the Collateral Agent hereunder pursuant to the terms of this Agreement, in each case by submitting to the Document Custodian and the Collateral Agent a written request in the
form of Exhibit H hereto (signed by both the Borrower and the Administrative Agent) specifying the Related Contracts to be so returned and reciting that the conditions to such release have been met (and specifying the
Section or Sections of this Agreement being relied upon for such release). The Document Custodian shall upon its receipt of each such request in the form of Exhibit H promptly, but in any event within five Business Days,
return the Related Contracts so requested to the Services Provider. 

  
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 Section 14.7 Access to Certain Documentation and Information Regarding the Related
Contracts. The Document Custodian shall provide to the Majority Lenders, the Administrative Agent and the Collateral Agent access to the Related Contracts including in such cases where the Collateral Agent is required in connection with the
enforcement of the rights or interests of the Secured Parties, or by applicable statutes or regulations, to review such documentation, such access being afforded at the expense of the Borrower pursuant to the this Agreement and only (a) upon
two Business Days prior written request, (b) during normal business hours and (c) subject to the Document Custodian’s normal security and confidentiality procedures. Without limiting the foregoing provisions of this
Section 14.7, from time to time on request of the Administrative Agent, the Document Custodian shall permit certified public accountants or other auditors acceptable to the Administrative Agent (acting at the direction of
the Majority Lenders) to conduct, at the expense of the Borrower, a review of the Related Contracts; provided that prior to the occurrence of an Event of Default, such review shall be conducted no more than once in any calendar year. 

Section 14.8 Custodian Agent. The Document Custodian agrees that, with respect to any Related Contracts at any time or times in
its possession, the Document Custodian shall be the agent of the Collateral Agent, for the benefit of the Secured Parties, for purposes of perfecting (to the extent not otherwise perfected) the Collateral Agent’s security interest in the
Collateral and for the purpose of ensuring that such security interest is entitled to first priority status under the UCC. 

Section 14.9 Removal and Resignation. (a) Document Custodian may be removed, with or without cause, by the Administrative
Agent upon 30 days prior written notice to the Document Custodian (the “Document Custodian Termination Notice”); provided that, notwithstanding its receipt of a Document Custodian Termination Notice, the Document Custodian
shall continue to act in such capacity (and, for the avoidance of doubt, so long as it continues to act in such capacity, shall continue to receive any fees and any other amounts to which it is entitled to receive in such capacity under the terms of
this Agreement and the Document Custodian Fee Letter) until a successor Document Custodian has been appointed and has agreed to act as Document Custodian hereunder. 

(b) Document Custodian may resign and be discharged from its duties or obligations hereunder, not earlier than thirty (30) days after
delivery to the Administrative Agent of written notice of such resignation specifying a date when such resignation shall take effect. If no successor collateral custodian has accepted appointment as the Document Custodian by the date
thirty (30) days following a resigning Document Custodian’s notice of resignation, the resigning Document Custodian’s resignation shall nevertheless thereupon become effective, and the Collateral Agent (or its designee) shall perform
the duties of the Document Custodian hereunder until such time, if any, as the Collateral Agent appoints a successor Document Custodian. Upon the effective date of such resignation, or if the Administrative Agent gives Document Custodian written
notice of an earlier termination hereof, Document Custodian shall (i) be reimbursed for any costs and expenses Document Custodian shall incur in connection with the termination of its duties under this Agreement and (ii) deliver all of the
Required Loan Documents in the possession of Document Custodian to the Administrative Agent or to such Person as the Administrative Agent may designate to Document Custodian in writing upon the receipt of a request in the form of
Exhibit H. 

  
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 For the avoidance of doubt, the Document Custodian shall be entitled to receive, as and when
such amounts are payable in accordance with this Agreement, any fees accrued through the effective date of its resignation pursuant to and in accordance with this Section 14.9. 

Section 14.10 Certain ERISA Matters. (a) Each Lender (x) represents and warrants, as of the date such Person became a
Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and its Affiliates, and not, for the
avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be true: 
 (i)
such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the
Commitments or this Agreement, 
 (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions
involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a
class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house
asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, 

(iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning
of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Commitments
and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through
(g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect
to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or 

(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole
discretion, and such Lender. 
 (b) In addition, unless either (1) clause (a)(i) above is true with respect to a Lender or (2) a
Lender has provided another representation, warranty and covenant as provided in clause (a)(iv) above, such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from
the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and its Affiliates, and not, for the avoidance of doubt, to or for the benefit of the
Borrower, that none of the Administrative Agent or any of its Affiliates is a fiduciary with respect to the assets of such Lender involved in the Loans, the Commitments, and this Agreement (including in connection with the reservation or exercise of
any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto). 

  
 -182- 

 ARTICLE XV 

QFC STAY RULES 

Section 15.1 Acknowledgement Regarding any Supported QFCs. To the extent that this Credit Agreement provides support, through a
guarantee or otherwise, for Interest Hedge Agreements or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as
follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations
promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that this Credit Agreement and any Supported QFC may in
fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 

In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under
a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such
Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such
interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special
Resolution Regime, Default Rights under this Credit Agreement that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such
Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and this Credit Agreement were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is
understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. 

[Remainder intentionally left blank] 

  
 -183- 

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

			
	ORCC FINANCING IV LLC,
as Borrower

 
			
		
	 By:
	 	 

 
			
		 	      Name:
		 	      Title:
	
	Address for notices:
	
	399 Park Avenue, 38th Floor
	New York, New York 10022
	Attention: Bryan Cole
	Email: bryan@owlock.com
	Phone: (212) 419-3035

 
			
	Agents:
	
	SOCIÉTÉ GÉNÉRALE, as Administrative Agent

 
			
		
	By:	 	 

 
			
		 	      Name:
		 	      Title:

 
			
		
	By:	 	 

 
			
		 	    Name:
		 	    Title:
	
	Address for notices:
	
	Société Générale
	245 Park Avenue, 4th Floor
	New York, NY 10167
	Attention: Julien Thinat
	Tel.: (212)-278-7598
	Email: julien.thinat@sgcib.com
	
	with a copy to:
	
	Société Générale
	480 Washington Blvd
	Jersey City, NJ 07310
	Tel.: (201)-839-8460
	Fax: 201-693-4233
	Attention: Cheriese Brathwaite
	Email: oper-fin-serv.us@sgss.socgen.com

 
			
	STATE STREET BANK AND TRUST COMPANY, as Collateral Agent, Collateral Administrator and Custodian
		
	By:	 	 
		 	Name:
		 	Title:
	
	Address for notices to Collateral Agent, Collateral Administrator and Custodian:
	
	 State Street Bank and Trust Company

1776 Heritage Drive

	North Quincy, Massachusetts 02171
	Mail Stop: JAB0130
	Attention: Structured Trust & Analytics
	Tel.: (617) 662-9839
	Facsimile No.: (617) 937-4358
	Email: brian.peterson@statestreet.com

 
			
	CORTLAND CAPITAL MARKET SERVICES LLC, as Document Custodian
		
	By:	 	 
		 	Name:
		 	Title:
	
	Address for notices to Document Custodian:
	
	225 W. Washington St., 9th Floor
	Chicago, IL 60606
	Attention: Doc Custody and Legal Department
	Facsimile No.: 312-378-0751
	 Email: DocCustody@alterdomus.com;

legal@alterdomus.com
  

with a copy to:

	
	 Holland & Knight LLP
 131
South Dearborn Street, 30th Floor

	Chicago, IL 60603
	Attention: Josh Spencer
	 Email: joshua.spencer@hklaw.com
  

with a copy to:

	
	 Holland & Knight LLP
 150 N
Riverside Plaza, Suite 2700

	Chicago, IL 60606
	Attention: Josh Spencer
	Email: joshua.spencer@hklaw.com

 
			
	SOCIÉTÉ GÉNÉRALE, as the initial Lender
		
	By:	 	 
		 	Name:
		 	Title:
	
	Address for notices:
	
	 Société Générale

245 Park Avenue, 4th Floor

	New York, NY 10167
	Attention: Julien Thinat
	Tel.: (212)-278-7598
	Email: julien.thinat@sgcib.com
	
	with a copy to:
	
	Société Générale
	480 Washington Blvd
	Jersey City, NJ 07310
	Tel.: (201)-839-8460
	Fax: 201-693-4233
	Attention: Cheriese Brathwaite
	Email: oper-fin-serv.us@sgss.socgen.com

 ANNEX A 

COMMITMENTS 
 Revolving
Commitments 
  

											
	 For the period from February 22, 2020 to but excluding the Third Amendment Effective
Date
	  	Société Générale	  	$	325,000,000	 	  	 	81.25	% 
		  	TIAA, FSB	  	$	50,000,000	 	  	 	12.50	% 
		  	Great American Life Insurance Company	  	$	20,000,000	 	  	 	5.00	% 
		  	Great American Insurance Company	  	$	5,000,000	 	  	 	1.25	% 
	 For the period from the Third Amendment Effective Date to the Stated Maturity
	  	Société Générale	  	$	200,000,000	 	  	 	80.00	% 
		  	Great American Life Insurance Company	  	$	20,000,000	 	  	 	8.00	% 
		  	Great American Insurance Company	  	$	30,000,000	 	  	 	12.00	% 

 Term Commitments 
  

							
	 Term Lender
	  	Term Commitment	 	  	Percentage Share
	 Société Générale
	  	$	0	 	  	N/A
	 Great American Life Insurance Company
	  	$	0	 	  	N/A
	 Great American Insurance Company
	  	$	0	 	  	N/A

  
 Annex A-1 

 SCHEDULE A 

Approved Appraisal Firms 
  

	1.	 Houlihan Lokey, Inc. 

 

	2.	 Duff & Phelps LLC 

 

	3.	 Murray, Devine and Company 

 

	4.	 Lincoln Advisors 

  

	5.	 Valuation Research Corporation 

  
 Sch. A-1 

 SCHEDULE B 

S&P Industry Classifications 
  

							
	1020000	  	Energy Equipment & Services	  	5220000	  	Personal Products
	1030000	  	Oil, Gas & Consumable Fuels	  	6020000	  	Health Care Equipment & Supplies
	2020000	  	Chemicals	  	6030000	  	Health Care Providers & Services
	2030000	  	Construction Materials	  	6110000	  	Biotechnology
	2040000	  	Containers & Packaging	  	6120000	  	Pharmaceuticals
	2050000	  	Metals & Mining	  	7011000	  	Banks
	2060000	  	Paper & Forest Products	  	7020000	  	Thrifts & Mortgage Finance
	3020000	  	Aerospace & Defense	  	7110000	  	Diversified Financial Services
	3030000	  	Building Products	  	7120000	  	Consumer Finance
	3040000	  	Construction & Engineering	  	7130000	  	Capital Markets
	3050000	  	Electrical Equipment	  	7210000	  	Insurance
	3060000	  	Industrial Conglomerates	  	7310000	  	Real Estate Management & Development
	3070000	  	Machinery	  	7311000	  	Real Estate Investment Trusts (REITs)
	3080000	  	Trading Companies & Distributors	  	8030000	  	IT Services
	3110000	  	Commercial Services & Supplies	  	8040000	  	Software
	3210000	  	Air Freight & Logistics	  	8110000	  	Communications Equipment
	3220000	  	Airlines	  	8120000	  	Technology Hardware, Storage & Peripherals
	3230000	  	Marine	  	8130000	  	Electronic Equipment, Instruments & Components
	3240000	  	Road & Rail	  	8210000	  	Semiconductors & Semiconductor Equipment
	3250000	  	Transportation Infrastructure	  	9020000	  	Diversified Telecommunication Services
	4011000	  	Auto Components	  	9030000	  	Wireless Telecommunication Services
	4020000	  	Automobiles	  	9520000	  	Electric Utilities
	4110000	  	Household Durables	  	9530000	  	Gas Utilities
	4120000	  	Leisure Products	  	9540000	  	Multi-Utilities
	4130000	  	Textiles, Apparel & Luxury Goods	  	9550000	  	Water Utilities
	4210000	  	Hotels, Restaurants & Leisure	  	9551701	  	Diversified Consumer Services
	4300001	  	Entertainment	  	9551702	  	 Independent Power and Renewable Electricity

Producers

	4300002	  	Interactive Media and Services	  	9551727	  	Life Sciences Tools & Services
	4310000	  	Media	  	9551729	  	Health Care Technology
	4410000	  	Distributors	  	9612010	  	Professional Services
	4420000	  	Internet and Direct Marketing Retail	  	PF1	  	Project finance: Industrial equipment
	4430000	  	Multiline Retail	  	PF2	  	Project finance: Leisure and gaming
	4440000	  	Specialty Retail	  	PF3	  	Project finance: Natural resources and mining
	5020000	  	Food & Staples Retailing	  	PF4	  	Project finance: Oil and gas
	5110000	  	Beverages	  	PF5	  	Project finance: Power
	5120000	  	Food Products	  	PF6	  	Project finance: Public finance and real estate
	5130000	  	Tobacco	  	PF7	  	Project finance: Telecommunications
	5210000	  	Household Products	  	PF8	  	Project finance: Transport

  
 Sch. B-1 

 SCHEDULE C 

Diversity Score Calculation 

The Diversity Score is calculated as follows: 

(a) An “Issuer Par Amount” is calculated for each issuer of a Collateral Loan, and is equal to the Aggregate Principal Balance of
all the Collateral Loans issued by that issuer and all affiliates. 
 (b) An “Average Par Amount” is calculated by summing the
Issuer Par Amounts for all such issuers, and dividing by the number of such issuers. 
 (c) An “Equivalent Unit Score” is
calculated for each issuer of a Collateral Loan, and is equal to the lesser of (x) one and (y) the Issuer Par Amount for such issuer divided by the Average Par Amount. 

(d) An “Aggregate Industry Equivalent Unit Score” is then calculated for each S&P Industry Classification group, shown on
Schedule B, and is equal to the sum of the Equivalent Unit Scores for each such issuer in such S&P Industry Classification group. 

(e) An “Industry Diversity Score” is then established for each S&P Industry Classification group, shown on
Schedule B, by reference to the following table for the related Aggregate Industry Equivalent Unit Score; provided that if any Aggregate Industry Equivalent Unit Score falls between any two such scores, the
applicable Industry Diversity Score will be the lower of the two Industry Diversity Scores: 
  

															
	 Aggregate

Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score
	  	 Aggregate
Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score
	  	 Aggregate
Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score
	  	 Aggregate
Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score

	0.0000	  	0.0000	  	5.0500	  	2.7000	  	10.1500	  	4.0200	  	15.2500	  	4.5300
	0.0500	  	0.1000	  	5.1500	  	2.7333	  	10.2500	  	4.0300	  	15.3500	  	4.5400
	0.1500	  	0.2000	  	5.2500	  	2.7667	  	10.3500	  	4.0400	  	15.4500	  	4.5500
	0.2500	  	0.3000	  	5.3500	  	2.8000	  	10.4500	  	4.0500	  	15.5500	  	4.5600
	0.3500	  	0.4000	  	5.4500	  	2.8333	  	10.5500	  	4.0600	  	15.6500	  	4.5700
	0.4500	  	0.5000	  	5.5500	  	2.8667	  	10.6500	  	4.0700	  	15.7500	  	4.5800
	0.5500	  	0.6000	  	5.6500	  	2.9000	  	10.7500	  	4.0800	  	15.8500	  	4.5900
	0.6500	  	0.7000	  	5.7500	  	2.9333	  	10.8500	  	4.0900	  	15.9500	  	4.6000
	0.7500	  	0.8000	  	5.8500	  	2.9667	  	10.9500	  	4.1000	  	16.0500	  	4.6100
	0.8500	  	0.9000	  	5.9500	  	3.0000	  	11.0500	  	4.1100	  	16.1500	  	4.6200
	0.9500	  	1.0000	  	6.0500	  	3.0250	  	11.1500	  	4.1200	  	16.2500	  	4.6300
	1.0500	  	1.0500	  	6.1500	  	3.0500	  	11.2500	  	4.1300	  	16.3500	  	4.6400
	1.1500	  	1.1000	  	6.2500	  	3.0750	  	11.3500	  	4.1400	  	16.4500	  	4.6500
	1.2500	  	1.1500	  	6.3500	  	3.1000	  	11.4500	  	4.1500	  	16.5500	  	4.6600
	1.3500	  	1.2000	  	6.4500	  	3.1250	  	11.5500	  	4.1600	  	16.6500	  	4.6700
	1.4500	  	1.2500	  	6.5500	  	3.1500	  	11.6500	  	4.1700	  	16.7500	  	4.6800
	1.5500	  	1.3000	  	6.6500	  	3.1750	  	11.7500	  	4.1800	  	16.8500	  	4.6900
	1.6500	  	1.3500	  	6.7500	  	3.2000	  	11.8500	  	4.1900	  	16.9500	  	4.7000

  
 Sch. C-1 

															
	 Aggregate

Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score
	  	 Aggregate
Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score
	  	 Aggregate
Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score
	  	 Aggregate
Industry
Equivalent

Unit Score
	  	 Industry
Diversity

Score

	1.7500	  	1.4000	  	6.8500	  	3.2250	  	11.9500	  	4.2000	  	17.0500	  	4.7100
	1.8500	  	1.4500	  	6.9500	  	3.2500	  	12.0500	  	4.2100	  	17.1500	  	4.7200
	1.9500	  	1.5000	  	7.0500	  	3.2750	  	12.1500	  	4.2200	  	17.2500	  	4.7300
	2.0500	  	1.5500	  	7.1500	  	3.3000	  	12.2500	  	4.2300	  	17.3500	  	4.7400
	2.1500	  	1.6000	  	7.2500	  	3.3250	  	12.3500	  	4.2400	  	17.4500	  	4.7500
	2.2500	  	1.6500	  	7.3500	  	3.3500	  	12.4500	  	4.2500	  	17.5500	  	4.7600
	2.3500	  	1.7000	  	7.4500	  	3.3750	  	12.5500	  	4.2600	  	17.6500	  	4.7700
	2.4500	  	1.7500	  	7.5500	  	3.4000	  	12.6500	  	4.2700	  	17.7500	  	4.7800
	2.5500	  	1.8000	  	7.6500	  	3.4250	  	12.7500	  	4.2800	  	17.8500	  	4.7900
	2.6500	  	1.8500	  	7.7500	  	3.4500	  	12.8500	  	4.2900	  	17.9500	  	4.8000
	2.7500	  	1.9000	  	7.8500	  	3.4750	  	12.9500	  	4.3000	  	18.0500	  	4.8100
	2.8500	  	1.9500	  	7.9500	  	3.5000	  	13.0500	  	4.3100	  	18.1500	  	4.8200
	2.9500	  	2.0000	  	8.0500	  	3.5250	  	13.1500	  	4.3200	  	18.2500	  	4.8300
	3.0500	  	2.0333	  	8.1500	  	3.5500	  	13.2500	  	4.3300	  	18.3500	  	4.8400
	3.1500	  	2.0667	  	8.2500	  	3.5750	  	13.3500	  	4.3400	  	18.4500	  	4.8500
	3.2500	  	2.1000	  	8.3500	  	3.6000	  	13.4500	  	4.3500	  	18.5500	  	4.8600
	3.3500	  	2.1333	  	8.4500	  	3.6250	  	13.5500	  	4.3600	  	18.6500	  	4.8700
	3.4500	  	2.1667	  	8.5500	  	3.6500	  	13.6500	  	4.3700	  	18.7500	  	4.8800
	3.5500	  	2.2000	  	8.6500	  	3.6750	  	13.7500	  	4.3800	  	18.8500	  	4.8900
	3.6500	  	2.2333	  	8.7500	  	3.7000	  	13.8500	  	4.3900	  	18.9500	  	4.9000
	3.7500	  	2.2667	  	8.8500	  	3.7250	  	13.9500	  	4.4000	  	19.0500	  	4.9100
	3.8500	  	2.3000	  	8.9500	  	3.7500	  	14.0500	  	4.4100	  	19.1500	  	4.9200
	3.9500	  	2.3333	  	9.0500	  	3.7750	  	14.1500	  	4.4200	  	19.2500	  	4.9300
	4.0500	  	2.3667	  	9.1500	  	3.8000	  	14.2500	  	4.4300	  	19.3500	  	4.9400
	4.1500	  	2.4000	  	9.2500	  	3.8250	  	14.3500	  	4.4400	  	19.4500	  	4.9500
	4.2500	  	2.4333	  	9.3500	  	3.8500	  	14.4500	  	4.4500	  	19.5500	  	4.9600
	4.3500	  	2.4667	  	9.4500	  	3.8750	  	14.5500	  	4.4600	  	19.6500	  	4.9700
	4.4500	  	2.5000	  	9.5500	  	3.9000	  	14.6500	  	4.4700	  	19.7500	  	4.9800
	4.5500	  	2.5333	  	9.6500	  	3.9250	  	14.7500	  	4.4800	  	19.8500	  	4.9900
	4.6500	  	2.5667	  	9.7500	  	3.9500	  	14.8500	  	4.4900	  	19.9500	  	5.0000
	4.7500	  	2.6000	  	9.8500	  	3.9750	  	14.9500	  	4.5000	  		  	
	4.8500	  	2.6333	  	9.9500	  	4.0000	  	15.0500	  	4.5100	  		  	
	4.9500	  	2.6667	  	10.0500	  	4.0100	  	15.1500	  	4.5200	  		  	

 (f) The Diversity Score is then calculated by summing each of the Industry Diversity Scores for each S&P
Industry Classification group shown on Schedule B. 
 For purposes of calculating the Diversity Score, affiliated issuers in the
same industry are deemed to be a single issuer (provided that an issuer will not be considered an affiliate of another issuer solely because they are controlled by the same Financial Sponsor) except as otherwise agreed to by S&P. 

  
 Sch. C-2 

 SCHEDULE D 

S&P Recovery Rate and Default Rate Tables 

Section 1. S&P Recovery Rate. 
 (a) (i)
If a Collateral Loan has an S&P Recovery Rating, the S&P Recovery Rate for such Collateral Loan shall be determined as follows: 
  

																																	
	 S&P Recovery

Rating of a

Collateral Loan
	  	Initial Liability Rating	 
	  	Recovery
indicator
from
S&P’s
Published
Reports*	 	  	“AAA”	 	 	“AA”	 	 	“A”	 	 	“BBB”	 	 	“BB”	 	 	“B”	 	 	“CCC”
or below	 
	 1+
	  	 	100	 	  	 	75	% 	 	 	85	% 	 	 	88	% 	 	 	90	% 	 	 	92	% 	 	 	95	% 	 	 	95	% 
	 1
	  	 	95	 	  	 	70	% 	 	 	80	% 	 	 	84	% 	 	 	87.5	% 	 	 	91	% 	 	 	95	% 	 	 	95	% 
	 1
	  	 	90	 	  	 	65	% 	 	 	75	% 	 	 	80	% 	 	 	85	% 	 	 	90	% 	 	 	95	% 	 	 	95	% 
	 2
	  	 	85	 	  	 	62.5	% 	 	 	72.5	% 	 	 	77.5	% 	 	 	83	% 	 	 	88	% 	 	 	92	% 	 	 	92	% 
	 2
	  	 	80	 	  	 	60	% 	 	 	70	% 	 	 	75	% 	 	 	81	% 	 	 	86	% 	 	 	89	% 	 	 	89	% 
	 2
	  	 	75	 	  	 	55	% 	 	 	65	% 	 	 	70.5	% 	 	 	77	% 	 	 	82.5	% 	 	 	84	% 	 	 	84	% 
	 2
	  	 	70	 	  	 	50	% 	 	 	60	% 	 	 	66	% 	 	 	73	% 	 	 	79	% 	 	 	79	% 	 	 	79	% 
	 3
	  	 	65	 	  	 	45	% 	 	 	55	% 	 	 	61	% 	 	 	68	% 	 	 	73	% 	 	 	74	% 	 	 	74	% 
	 3
	  	 	60	 	  	 	40	% 	 	 	50	% 	 	 	56	% 	 	 	63	% 	 	 	67	% 	 	 	69	% 	 	 	69	% 
	 3
	  	 	55	 	  	 	35	% 	 	 	45	% 	 	 	51	% 	 	 	58	% 	 	 	63	% 	 	 	64	% 	 	 	64	% 
	 3
	  	 	50	 	  	 	30	% 	 	 	40	% 	 	 	46	% 	 	 	53	% 	 	 	59	% 	 	 	59	% 	 	 	59	% 
	 4
	  	 	45	 	  	 	28.5	% 	 	 	37.5	% 	 	 	44	% 	 	 	49.5	% 	 	 	53.5	% 	 	 	54	% 	 	 	54	% 
	 4
	  	 	40	 	  	 	27	% 	 	 	35	% 	 	 	42	% 	 	 	46	% 	 	 	48	% 	 	 	49	% 	 	 	49	% 
	 4
	  	 	35	 	  	 	23.5	% 	 	 	30.5	% 	 	 	37.5	% 	 	 	42.5	% 	 	 	43.5	% 	 	 	44	% 	 	 	44	% 
	 4
	  	 	30	 	  	 	20	% 	 	 	26	% 	 	 	33	% 	 	 	39	% 	 	 	39	% 	 	 	39	% 	 	 	39	% 
	 5
	  	 	25	 	  	 	17.5	% 	 	 	23	% 	 	 	28.5	% 	 	 	32.5	% 	 	 	33.5	% 	 	 	34	% 	 	 	34	% 
	 5
	  	 	20	 	  	 	15	% 	 	 	20	% 	 	 	24	% 	 	 	26	% 	 	 	28	% 	 	 	29	% 	 	 	29	% 
	 5
	  	 	15	 	  	 	10	% 	 	 	15	% 	 	 	19.5	% 	 	 	22.5	% 	 	 	23.5	% 	 	 	24	% 	 	 	24	% 
	 5
	  	 	10	 	  	 	5	% 	 	 	10	% 	 	 	15	% 	 	 	19	% 	 	 	19	% 	 	 	19	% 	 	 	19	% 
	 6
	  	 	5	 	  	 	3.5	% 	 	 	7	% 	 	 	10.5	% 	 	 	13.5	% 	 	 	14	% 	 	 	14	% 	 	 	14	% 
	 6
	  	 	0	 	  	 	2	% 	 	 	4	% 	 	 	6	% 	 	 	8	% 	 	 	9	% 	 	 	9	% 	 	 	9	% 
	 	  	 	 	  	Recovery rate	 

  
  

 

	*	 If a recovery indicator is not available for a given loan with a recovery rating of “1” through
“6,” the lowest indicator for the applicable recovery rating should be assumed. 

 (ii) If
(x) a Collateral Loan does not have an S&P Recovery Rating, and such Collateral Loan is a senior unsecured loan or second lien loan and (y) the issuer of such Collateral Loan has issued another debt instrument that is outstanding and
senior to such Collateral Loan (a “Senior Debt Instrument”) that has an S&P Recovery Rating, the S&P Recovery Rate for such Collateral Loan shall be determined as follows: 

  
 Sch. D-1 

 For Collateral Loans Domiciled in Group A 

 

																									
	 S&P Recovery Rating of

the Senior Debt Instrument
	  	Initial Liability Rating	 
	  	“AAA”	 	 	“AA”	 	 	“A”	 	 	“BBB”	 	 	“BB”	 	 	“B” and
below	 
	 1+
	  	 	18	% 	 	 	20	% 	 	 	23	% 	 	 	26	% 	 	 	29	% 	 	 	31	% 
	 1
	  	 	18	% 	 	 	20	% 	 	 	23	% 	 	 	26	% 	 	 	29	% 	 	 	31	% 
	 2
	  	 	18	% 	 	 	20	% 	 	 	23	% 	 	 	26	% 	 	 	29	% 	 	 	31	% 
	 3
	  	 	12	% 	 	 	15	% 	 	 	18	% 	 	 	21	% 	 	 	22	% 	 	 	23	% 
	 4
	  	 	5	% 	 	 	8	% 	 	 	11	% 	 	 	13	% 	 	 	14	% 	 	 	15	% 
	 5
	  	 	2	% 	 	 	4	% 	 	 	6	% 	 	 	8	% 	 	 	9	% 	 	 	10	% 
	 6
	  	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 
	 	  	Recovery rate	 

 For Collateral Loans Domiciled in Group B 
  

																									
	 S&P Recovery Rating of

the Senior Debt Instrument
	  	Initial Liability Rating	 
	  	“AAA”	 	 	“AA”	 	 	“A”	 	 	“BBB”	 	 	“BB”	 	 	“B”
and
below	 
	 1+
	  	 	13	% 	 	 	16	% 	 	 	18	% 	 	 	21	% 	 	 	23	% 	 	 	25	% 
	 1
	  	 	13	% 	 	 	16	% 	 	 	18	% 	 	 	21	% 	 	 	23	% 	 	 	25	% 
	 2
	  	 	13	% 	 	 	16	% 	 	 	18	% 	 	 	21	% 	 	 	23	% 	 	 	25	% 
	 3
	  	 	8	% 	 	 	11	% 	 	 	13	% 	 	 	15	% 	 	 	16	% 	 	 	17	% 
	 4
	  	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 
	 5
	  	 	2	% 	 	 	2	% 	 	 	2	% 	 	 	2	% 	 	 	2	% 	 	 	2	% 
	 6
	  	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 
	 	  	Recovery rate	 

 For Collateral Loans Domiciled in Group C 
  

																									
	 S&P Recovery Rating of

the Senior Debt Instrument
	  	Initial Liability Rating	 
	  	“AAA”	 	 	“AA”	 	 	“A”	 	 	“BBB”	 	 	“BB”	 	 	“B”
and
below	 
	 1+
	  	 	10	% 	 	 	12	% 	 	 	14	% 	 	 	16	% 	 	 	18	% 	 	 	20	% 
	 1
	  	 	10	% 	 	 	12	% 	 	 	14	% 	 	 	16	% 	 	 	18	% 	 	 	20	% 
	 2
	  	 	10	% 	 	 	12	% 	 	 	14	% 	 	 	16	% 	 	 	18	% 	 	 	20	% 
	 3
	  	 	5	% 	 	 	7	% 	 	 	9	% 	 	 	10	% 	 	 	11	% 	 	 	12	% 
	 4
	  	 	2	% 	 	 	2	% 	 	 	2	% 	 	 	2	% 	 	 	2	% 	 	 	2	% 
	 5
	  	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 
	 6
	  	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 	 	 	-	% 
	 	  	Recovery rate	 

 (iii) If (x) a Collateral Loan does not have an S&P Recovery Rating and such
Collateral Loan is a subordinated loan and (y) the issuer of such Collateral Loan has issued another debt instrument that is outstanding and senior to such Collateral Loan that is a 

  
 Sch. D-2 

 Senior Debt Instrument that has an S&P Recovery Rating, the S&P Recovery Rate
for such Collateral Loan shall be determined as follows: 
 For Collateral Loans Domiciled in Groups A and B 

 

					
	 S&P Recovery Rating of

the Senior Debt Instrument
	  	All Initial Liability Ratings	 
	 1+
	  	 	8	% 
	 1
	  	 	8	% 
	 2
	  	 	8	% 
	 3
	  	 	5	% 
	 4
	  	 	2	% 
	 5
	  	 	-	% 
	 6
	  	 	-	% 
		  	 	Recovery rate	 

 For Collateral Loans Domiciled in Group C 
  

					
	 S&P Recovery Rating of

the Senior Debt Instrument
	  	All Initial Liability Ratings	 
	 1+
	  	 	5	% 
	 1
	  	 	5	% 
	 2
	  	 	5	% 
	 3
	  	 	2	% 
	 4
	  	 	-	% 
	 5
	  	 	-	% 
	 6
	  	 	-	% 
		  	 	Recovery rate	 

  
 Sch. D-3 

 (b) If a recovery rate cannot be determined using clause (a), the recovery rate shall
be determined using the following table. 
 Recovery rates for obligors Domiciled in Group A, B or C: 

 

																									
	 Priority

Category
	  	Initial Liability Rating	 
	  	“AAA”	 	 	“AA”	 	 	“A”	 	 	“BBB”	 	 	“BB”	 	 	“B” and
“CCC”	 
	 Senior Secured
Loans*
	  

	 Group A
	  	 	50	% 	 	 	55	% 	 	 	59	% 	 	 	63	% 	 	 	75	% 	 	 	79	% 
	 Group B
	  	 	39	% 	 	 	42	% 	 	 	46	% 	 	 	49	% 	 	 	60	% 	 	 	63	% 
	 Group C
	  	 	17	% 	 	 	19	% 	 	 	27	% 	 	 	29	% 	 	 	31	% 	 	 	34	% 
	 Senior Secured Loans (Cov-Lite
Loans)
	  

	 Group A
	  	 	41	% 	 	 	46	% 	 	 	49	% 	 	 	53	% 	 	 	63	% 	 	 	67	% 
	 Group B
	  	 	32	% 	 	 	35	% 	 	 	39	% 	 	 	41	% 	 	 	50	% 	 	 	53	% 
	 Group C
	  	 	17	% 	 	 	19	% 	 	 	27	% 	 	 	29	% 	 	 	31	% 	 	 	34	% 
	 Unsecured Loans, Second Lien Loans and First Lien/Last Out Loans
	  

	 Group A
	  	 	18	% 	 	 	20	% 	 	 	23	% 	 	 	26	% 	 	 	29	% 	 	 	31	% 
	 Group B
	  	 	13	% 	 	 	16	% 	 	 	18	% 	 	 	21	% 	 	 	23	% 	 	 	25	% 
	 Group C
	  	 	10	% 	 	 	12	% 	 	 	14	% 	 	 	16	% 	 	 	18	% 	 	 	20	% 
	 Subordinated loans
	  

	 Group A, B and C
	  	 	8	% 	 	 	8	% 	 	 	8	% 	 	 	8	% 	 	 	8	% 	 	 	8	% 

 Recovery rate 
  

			
	Group A:	  	Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Japan, Luxembourg, The Netherlands, Norway, Poland, Portugal, Singapore, Spain, Sweden, Switzerland, U.K., U.S.
	Group B:	  	Brazil, Dubai International Finance Centre, Greece, Italy, Mexico, South Africa, Turkey, United Arab Emirates
	Group C:	  	India, Indonesia, Kazakhstan, Russia, Ukraine, Vietnam others

  

	*	 Solely for the purpose of determining the S&P Recovery Rate for such loan, no loan will constitute a
“Senior Secured Loan” unless such loan (a) is secured by a valid first priority security interest in collateral, (b) in the Services Provider’s commercially reasonable judgment (with such determination being made in good
faith by the Services Provider at the time of such loan’s purchase and based upon information reasonably available to the Services Provider at such time and without any requirement of additional investigation beyond the Services Provider’s
customary credit review procedures), is secured by specified collateral that has a value not less than an amount equal to the sum of (i) the aggregate principal amount of all loans senior or pari passu to such loans and (ii) the
outstanding principal balance of such loan, which value may be derived from, among other things, the enterprise value of the issuer of such loan, excluding any loan secured primarily by equity or goodwill and (c) is not secured primarily by
common stock or other equity interests (provided that the terms of this footnote may be amended or revised at any time by a written agreement of the Borrower, the Services Provider and the Administrative Agent (without the consent of any
Lender), subject to satisfaction of the Rating Condition, in order to conform to S&P then-current criteria for such loans). 

  
 Sch. D-4 

 Section 2. Default Rate Matrix 

 

																									
	 Collateral Loan rating categories
	  	 Tenor (years)
	  	0	  	1	  	2	  	3	  	4	  	5	  	6	  	7	  	8	  	9	  	10
		  	 AAA
	  	0	  	3.25E-05	  	0.000157	  	0.000415	  	0.000848	  	0.001497	  	0.002404	  	0.003606	  	0.005139	  	0.007037	  	0.009327
		  	 AA+
	  	0	  	8.32E-05	  	0.00037	  	0.000913	  	0.001763	  	0.002964	  	0.004559	  	0.006584	  	0.00907	  	0.012041	  	0.015519
		  	 AA
	  	0	  	0.000177	  	0.000736	  	0.001723	  	0.003178	  	0.005137	  	0.007634	  	0.010693	  	0.014331	  	0.018562	  	0.023388
		  	 AA-
	  	0	  	0.000494	  	0.001399	  	0.002768	  	0.004649	  	0.007082	  	0.0101	  	0.013728	  	0.017982	  	0.022871	  	0.028394
		  	A+	  	0	  	0.001004	  	0.002574	  	0.004745	  	0.007553	  	0.011024	  	0.015179	  	0.020029	  	0.025573	  	0.031802	  	0.038701
		  	A	  	0	  	0.001983	  	0.004525	  	0.007705	  	0.011588	  	0.016218	  	0.021622	  	0.027805	  	0.034759	  	0.042462	  	0.05088
		  	A-	  	0	  	0.003053	  	0.006673	  	0.011	  	0.016135	  	0.02214	  	0.029039	  	0.036829	  	0.045478	  	0.054938	  	0.065147
		  	 BBB+
	  	0	  	0.004037	  	0.008929	  	0.014842	  	0.02186	  	0.030004	  	0.039242	  	0.049505	  	0.060704	  	0.072732	  	0.085478
		  	 BBB
	  	0	  	0.004616	  	0.010917	  	0.018957	  	0.028678	  	0.039947	  	0.052585	  	0.066391	  	0.08116	  	0.096695	  	0.112812
		  	 BBB-
	  	0	  	0.005243	  	0.01446	  	0.027021	  	0.042297	  	0.059694	  	0.078677	  	0.098774	  	0.119592	  	0.140802	  	0.162142
		  	 BB+
	  	0	  	0.010516	  	0.024997	  	0.042967	  	0.063757	  	0.086645	  	0.110954	  	0.13609	  	0.161569	  	0.187006	  	0.212111
		  	 BB
	  	0	  	0.021095	  	0.046443	  	0.074759	  	0.104884	  	0.135868	  	0.166978	  	0.197674	  	0.227579	  	0.256447	  	0.284127
		  	 BB-
	  	0	  	0.026002	  	0.058721	  	0.095363	  	0.1337	  	0.172146	  	0.209665	  	0.245636	  	0.279728	  	0.311806	  	0.341854
		  	B+	  	0	  	0.032212	  	0.075975	  	0.123791	  	0.171639	  	0.217484	  	0.260411	  	0.300111	  	0.336603	  	0.370063	  	0.400734
		  	B	  	0	  	0.078481	  	0.14782	  	0.20935	  	0.263966	  	0.312463	  	0.355596	  	0.394064	  	0.428498	  	0.45945	  	0.487397
		  	B-	  	0	  	0.108821	  	0.200102	  	0.276168	  	0.339567	  	0.392721	  	0.437706	  	0.4762	  	0.509515	  	0.538665	  	0.564428
		  	 CCC+
	  	0	  	0.156886	  	0.280398	  	0.374298	  	0.445855	  	0.501353	  	0.545408	  	0.58123	  	0.611024	  	0.636306	  	0.658134
		  	 CCC
	  	0	  	0.20495	  	0.346227	  	0.444862	  	0.516028	  	0.56923	  	0.610357	  	0.64313	  	0.669956	  	0.692431	  	0.711636
		  	 CCC-
	  	0	  	0.253013	  	0.401048	  	0.498232	  	0.566449	  	0.616614	  	0.654916	  	0.685123	  	0.709632	  	0.730012	  	0.747318

  

																							
	 Collateral Loan rating categories
	  	 Tenor (years)
	  	11	  	12	  	13	  	14	  	15	  	16	  	17	  	18	  	19	  	20
		  	 AAA
	  	0.012036	  	0.015185	  	0.01879	  	0.022864	  	0.027414	  	0.032445	  	0.037957	  	0.043945	  	0.050402	  	0.057317
		  	 AA+
	  	0.019516	  	0.024042	  	0.029099	  	0.034686	  	0.040796	  	0.047419	  	0.05454	  	0.062142	  	0.070205	  	0.078706
		  	 AA
	  	0.02881	  	0.034818	  	0.041401	  	0.04854	  	0.056214	  	0.064398	  	0.073065	  	0.082185	  	0.091727	  	0.101658
		  	 AA-
	  	0.034545	  	0.041309	  	0.048667	  	0.056593	  	0.06506	  	0.074036	  	0.083485	  	0.093374	  	0.103664	  	0.114319
		  	A+	  	0.046245	  	0.054404	  	0.063142	  	0.072422	  	0.082203	  	0.092442	  	0.103097	  	0.114125	  	0.125483	  	0.137131
		  	A	  	0.059969	  	0.069681	  	0.079964	  	0.090761	  	0.102017	  	0.113677	  	0.125687	  	0.137994	  	0.150551	  	0.163312
		  	A-	  	0.076035	  	0.087526	  	0.099545	  	0.112016	  	0.124868	  	0.138033	  	0.151447	  	0.165052	  	0.178796	  	0.192632
		  	 BBB+
	  	0.09883	  	0.11268	  	0.126926	  	0.141477	  	0.156248	  	0.171165	  	0.186162	  	0.201182	  	0.216177	  	0.231106
		  	 BBB
	  	0.129347	  	0.146157	  	0.163118	  	0.180128	  	0.197098	  	0.21396	  	0.230656	  	0.247142	  	0.263382	  	0.279351
		  	 BBB-
	  	0.183406	  	0.204435	  	0.225111	  	0.2455	  	0.26509	  	0.284293	  	0.302938	  	0.321013	  	0.338517	  	0.355457
		  	 BB+
	  	0.236673	  	0.260547	  	0.283637	  	0.305888	  	0.327274	  	0.347792	  	0.367453	  	0.38628	  	0.404301	  	0.421552
		  	 BB
	  	0.310543	  	0.33567	  	0.359519	  	0.382126	  	0.403541	  	0.423823	  	0.443036	  	0.461245	  	0.478514	  	0.494906
		  	 BB-
	  	0.369934	  	0.396148	  	0.420617	  	0.443472	  	0.46484	  	0.484843	  	0.503597	  	0.521206	  	0.537769	  	0.553372
		  	B+	  	0.428882	  	0.454761	  	0.478611	  	0.500647	  	0.52106	  	0.540019	  	0.557672	  	0.574151	  	0.589568	  	0.604025
		  	B	  	0.512744	  	0.535834	  	0.556956	  	0.576354	  	0.594234	  	0.610772	  	0.626116	  	0.640396	  	0.653721	  	0.666186
		  	B-	  	0.587403	  	0.608057	  	0.626752	  	0.643779	  	0.659369	  	0.673709	  	0.686956	  	0.699236	  	0.710659	  	0.721316
		  	 CCC+
	  	0.677257	  	0.694214	  	0.709405	  	0.723128	  	0.735614	  	0.747042	  	0.757555	  	0.76727	  	0.776282	  	0.78467
		  	 CCC
	  	0.728321	  	0.743019	  	0.756115	  	0.767895	  	0.778574	  	0.788321	  	0.797265	  	0.805514	  	0.813152	  	0.82025
		  	 CCC-
	  	0.762276	  	0.775397	  	0.787047	  	0.797496	  	0.806947	  	0.815554	  	0.823441	  	0.830704	  	0.83742	  	0.843656

  

																							
	 Collateral Loan rating categories
	  	 Tenor (years)
	  	21	  	22	  	23	  	24	  	25	  	26	  	27	  	28	  	29	  	30
		  	 AAA
	  	0.064677	  	0.072467	  	0.080667	  	0.089259	  	0.09822	  	0.107529	  	0.117161	  	0.127094	  	0.137302	  	0.147762
		  	 AA+
	  	0.087621	  	0.096923	  	0.106587	  	0.116584	  	0.126887	  	0.137468	  	0.148299	  	0.159353	  	0.170604	  	0.182024
		  	 AA
	  	0.111947	  	0.12256	  	0.133465	  	0.144629	  	0.156023	  	0.167615	  	0.179376	  	0.191279	  	0.203298	  	0.215406
		  	 AA-
	  	0.125301	  	0.136575	  	0.148104	  	0.159855	  	0.171794	  	0.18389	  	0.196113	  	0.208436	  	0.220831	  	0.233274
		  	A+	  	0.14903	  	0.16114	  	0.173428	  	0.185858	  	0.198399	  	0.211023	  	0.2237	  	0.236408	  	0.249122	  	0.261821
		  	A	  	0.176232	  	0.189275	  	0.202402	  	0.215581	  	0.228783	  	0.24198	  	0.255149	  	0.268267	  	0.281317	  	0.29428
		  	A-	  	0.206517	  	0.220414	  	0.234289	  	0.248114	  	0.261863	  	0.275516	  	0.289052	  	0.302456	  	0.315715	  	0.328817
		  	 BBB+
	  	0.245932	  	0.260627	  	0.275166	  	0.28953	  	0.303702	  	0.317669	  	0.331422	  	0.344952	  	0.358254	  	0.371325
		  	 BBB
	  	0.295028	  	0.310399	  	0.325456	  	0.340193	  	0.354608	  	0.3687	  	0.382472	  	0.395927	  	0.40907	  	0.421905
		  	 BBB-
	  	0.371843	  	0.38769	  	0.403014	  	0.417834	  	0.432169	  	0.446038	  	0.45946	  	0.472454	  	0.485039	  	0.497234
		  	 BB+
	  	0.438067	  	0.453885	  	0.469042	  	0.483574	  	0.497518	  	0.510905	  	0.523769	  	0.536139	  	0.548043	  	0.559508
		  	 BB
	  	0.510479	  	0.52529	  	0.539391	  	0.55283	  	0.565653	  	0.577902	  	0.589615	  	0.600828	  	0.611574	  	0.621882
		  	 BB-
	  	0.568096	  	0.582012	  	0.595186	  	0.607676	  	0.619536	  	0.630814	  	0.641554	  	0.651795	  	0.661573	  	0.670921
		  	B+	  	0.61761	  	0.630403	  	0.642471	  	0.653877	  	0.664677	  	0.67492	  	0.684649	  	0.693905	  	0.702723	  	0.711136
		  	B	  	0.677876	  	0.688862	  	0.699209	  	0.708973	  	0.718204	  	0.726947	  	0.735242	  	0.743123	  	0.750623	  	0.757772
		  	B-	  	0.731286	  	0.740636	  	0.749425	  	0.757705	  	0.765521	  	0.772912	  	0.779916	  	0.786562	  	0.79288	  	0.798894
		  	 CCC+
	  	0.792502	  	0.799834	  	0.806716	  	0.81319	  	0.819294	  	0.82506	  	0.830518	  	0.835692	  	0.840606	  	0.84528
		  	 CCC
	  	0.826869	  	0.833058	  	0.838861	  	0.844315	  	0.849452	  	0.854301	  	0.858887	  	0.863232	  	0.867355	  	0.871275
		  	 CCC-
	  	0.849465	  	0.854892	  	0.859977	  	0.864752	  	0.869248	  	0.873488	  	0.877496	  	0.881292	  	0.884892	  	0.888313

  
 Sch. D-5 

 SCHEDULE E 

S&P Recovery Rate Matrix 

 

					
	 S&P CDO Monitor
Recovery Rates (%)
	 
	 Case
	  	Loans	 
	 1
	  	 	35.00	% 
	 2
	  	 	35.05	% 
	 3
	  	 	35.10	% 
	 4
	  	 	35.15	% 
	 5
	  	 	35.20	% 
	 6
	  	 	35.25	% 
	 7
	  	 	35.30	% 
	 8
	  	 	35.35	% 
	 9
	  	 	35.40	% 
	 10
	  	 	35.45	% 
	 11
	  	 	35.50	% 
	 12
	  	 	35.55	% 
	 13
	  	 	35.60	% 
	 14
	  	 	35.65	% 
	 15
	  	 	35.70	% 
	 16
	  	 	35.75	% 
	 17
	  	 	35.80	% 
	 18
	  	 	35.85	% 
	 19
	  	 	35.90	% 
	 20
	  	 	35.95	% 
	 21
	  	 	36.00	% 
	 22
	  	 	36.05	% 
	 23
	  	 	36.10	% 
	 24
	  	 	36.15	% 
	 25
	  	 	36.20	% 
	 26
	  	 	36.25	% 
	 27
	  	 	36.30	% 
	 28
	  	 	36.35	% 
	 29
	  	 	36.40	% 
	 30
	  	 	36.45	% 
	 31
	  	 	36.50	% 
	 32
	  	 	36.55	% 
	 33
	  	 	36.60	% 
	 34
	  	 	36.65	% 
	 35
	  	 	36.70	% 
	 36
	  	 	36.75	% 
	 37
	  	 	36.80	% 

					
	 S&P CDO Monitor
Recovery Rates (%)
	 
	 Case
	  	Loans	 
	 38
	  	 	36.85	% 
	 39
	  	 	36.90	% 
	 40
	  	 	36.95	% 
	 41
	  	 	37.00	% 
	 42
	  	 	37.05	% 
	 43
	  	 	37.10	% 
	 44
	  	 	37.15	% 
	 45
	  	 	37.20	% 
	 46
	  	 	37.25	% 
	 47
	  	 	37.30	% 
	 48
	  	 	37.35	% 
	 49
	  	 	37.40	% 
	 50
	  	 	37.45	% 
	 51
	  	 	37.50	% 
	 52
	  	 	37.55	% 
	 53
	  	 	37.60	% 
	 54
	  	 	37.65	% 
	 55
	  	 	37.70	% 
	 56
	  	 	37.75	% 
	 57
	  	 	37.80	% 
	 58
	  	 	37.85	% 
	 59
	  	 	37.90	% 
	 60
	  	 	37.95	% 
	 61
	  	 	38.00	% 
	 62
	  	 	38.05	% 
	 63
	  	 	38.10	% 
	 64
	  	 	38.15	% 
	 65
	  	 	38.20	% 
	 66
	  	 	38.25	% 
	 67
	  	 	38.30	% 
	 68
	  	 	38.35	% 
	 69
	  	 	38.40	% 
	 70
	  	 	38.45	% 
	 71
	  	 	38.50	% 
	 72
	  	 	38.55	% 
	 73
	  	 	38.60	% 
	 74
	  	 	38.65	% 

 
 

  
 Sch. E-1 

 

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	75	  	38.70%
	76	  	38.75%
	77	  	38.80%
	78	  	38.85%
	79	  	38.90%
	80	  	38.95%
	81	  	39.00%
	82	  	39.05%
	83	  	39.10%
	84	  	39.15%
	85	  	39.20%
	86	  	39.25%
	87	  	39.30%
	88	  	39.35%
	89	  	39.40%
	90	  	39.45%
	91	  	39.50%
	92	  	39.55%
	93	  	39.60%
	94	  	39.65%
	95	  	39.70%
	96	  	39.75%
	97	  	39.80%
	98	  	39.85%
	99	  	39.90%
	100	  	39.95%
	101	  	40.00%
	102	  	40.05%
	103	  	40.10%
	104	  	40.15%
	105	  	40.20%
	106	  	40.25%
	107	  	40.30%
	108	  	40.35%
	109	  	40.40%
	110	  	40.45%
	111	  	40.50%
	112	  	40.55%
	113	  	40.60%
	114	  	40.65%
	115	  	40.70%
	116	  	40.75%

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	117	  	40.80%
	118	  	40.85%
	119	  	40.90%
	120	  	40.95%
	121	  	41.00%
	122	  	41.05%
	123	  	41.10%
	124	  	41.15%
	125	  	41.20%
	126	  	41.25%
	127	  	41.30%
	128	  	41.35%
	129	  	41.40%
	130	  	41.45%
	131	  	41.50%
	132	  	41.55%
	133	  	41.60%
	134	  	41.65%
	135	  	41.70%
	136	  	41.75%
	137	  	41.80%
	138	  	41.85%
	139	  	41.90%
	140	  	41.95%
	141	  	42.00%
	142	  	42.05%
	143	  	42.10%
	144	  	42.15%
	145	  	42.20%
	146	  	42.25%
	147	  	42.30%
	148	  	42.35%
	149	  	42.40%
	150	  	42.45%
	151	  	42.50%
	152	  	42.55%
	153	  	42.60%
	154	  	42.65%
	155	  	42.70%
	156	  	42.75%
	157	  	42.80%
	158	  	42.85%

 
 

  
 Sch. E-2 

 

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	159	  	42.90%
	160	  	42.95%
	161	  	43.00%
	162	  	43.05%
	163	  	43.10%
	164	  	43.15%
	165	  	43.20%
	166	  	43.25%
	167	  	43.30%
	168	  	43.35%
	169	  	43.40%
	170	  	43.45%
	171	  	43.50%
	172	  	43.55%
	173	  	43.60%
	174	  	43.65%
	175	  	43.70%
	176	  	43.75%
	177	  	43.80%
	178	  	43.85%
	179	  	43.90%
	180	  	43.95%
	181	  	44.00%
	182	  	44.05%
	183	  	44.10%
	184	  	44.15%
	185	  	44.20%
	186	  	44.25%
	187	  	44.30%
	188	  	44.35%
	189	  	44.40%
	190	  	44.45%
	191	  	44.50%
	192	  	44.55%
	193	  	44.60%
	194	  	44.65%
	195	  	44.70%
	196	  	44.75%
	197	  	44.80%
	198	  	44.85%
	199	  	44.90%
	200	  	44.95%

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	201	  	45.00%
	202	  	45.05%
	203	  	45.10%
	204	  	45.15%
	205	  	45.20%
	206	  	45.25%
	207	  	45.30%
	208	  	45.35%
	209	  	45.40%
	210	  	45.45%
	211	  	45.50%
	212	  	45.55%
	213	  	45.60%
	214	  	45.65%
	215	  	45.70%
	216	  	45.75%
	217	  	45.80%
	218	  	45.85%
	219	  	45.90%
	220	  	45.95%
	221	  	46.00%
	222	  	46.05%
	223	  	46.10%
	224	  	46.15%
	225	  	46.20%
	226	  	46.25%
	227	  	46.30%
	228	  	46.35%
	229	  	46.40%
	230	  	46.45%
	231	  	46.50%
	232	  	46.55%
	233	  	46.60%
	234	  	46.65%
	235	  	46.70%
	236	  	46.75%
	237	  	46.80%
	238	  	46.85%
	239	  	46.90%
	240	  	46.95%
	241	  	47.00%
	242	  	47.05%

 
 

  
 Sch. E-3 

 

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	243	  	47.10%
	244	  	47.15%
	245	  	47.20%
	246	  	47.25%
	247	  	47.30%
	248	  	47.35%
	249	  	47.40%
	250	  	47.45%
	251	  	47.50%
	252	  	47.55%
	253	  	47.60%
	254	  	47.65%
	255	  	47.70%
	256	  	47.75%
	257	  	47.80%
	258	  	47.85%
	259	  	47.90%
	260	  	47.95%
	261	  	48.00%
	262	  	48.05%
	263	  	48.10%
	264	  	48.15%
	265	  	48.20%
	266	  	48.25%
	267	  	48.30%
	268	  	48.35%
	269	  	48.40%
	270	  	48.45%
	271	  	48.50%
	272	  	48.55%
	273	  	48.60%
	274	  	48.65%
	275	  	48.70%
	276	  	48.75%
	277	  	48.80%
	278	  	48.85%
	279	  	48.90%
	280	  	48.95%
	281	  	49.00%
	282	  	49.05%
	283	  	49.10%
	284	  	49.15%

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	285	  	49.20%
	286	  	49.25%
	287	  	49.30%
	288	  	49.35%
	289	  	49.40%
	290	  	49.45%
	291	  	49.50%
	292	  	49.55%
	293	  	49.60%
	294	  	49.65%
	295	  	49.70%
	296	  	49.75%
	297	  	49.80%
	298	  	49.85%
	299	  	49.90%
	300	  	49.95%
	301	  	50.00%
	302	  	50.05%
	303	  	50.10%
	304	  	50.15%
	305	  	50.20%
	306	  	50.25%
	307	  	50.30%
	308	  	50.35%
	309	  	50.40%
	310	  	50.45%
	311	  	50.50%
	312	  	50.55%
	313	  	50.60%
	314	  	50.65%
	315	  	50.70%
	316	  	50.75%
	317	  	50.80%
	318	  	50.85%
	319	  	50.90%
	320	  	50.95%
	321	  	51.00%
	322	  	51.05%
	323	  	51.10%
	324	  	51.15%
	325	  	51.20%
	326	  	51.25%

 
 

  
 Sch. E-4 

 

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	327	  	51.30%
	328	  	51.35%
	329	  	51.40%
	330	  	51.45%
	331	  	51.50%
	332	  	51.55%
	333	  	51.60%
	334	  	51.65%
	335	  	51.70%
	336	  	51.75%
	337	  	51.80%
	338	  	51.85%
	339	  	51.90%
	340	  	51.95%
	341	  	52.00%
	342	  	52.05%
	343	  	52.10%
	344	  	52.15%
	345	  	52.20%
	346	  	52.25%
	347	  	52.30%
	348	  	52.35%
	349	  	52.40%
	350	  	52.45%
	351	  	52.50%
	352	  	52.55%
	353	  	52.60%
	354	  	52.65%
	355	  	52.70%
	356	  	52.75%
	357	  	52.80%
	358	  	52.85%
	359	  	52.90%
	360	  	52.95%
	361	  	53.00%
	362	  	53.05%
	363	  	53.10%
	364	  	53.15%

			
	 S&P CDO Monitor Recovery
Rates (%)

	 Case
	  	 Loans

	365	  	53.20%
	366	  	53.25%
	367	  	53.30%
	368	  	53.35%
	369	  	53.40%
	370	  	53.45%
	371	  	53.50%
	372	  	53.55%
	373	  	53.60%
	374	  	53.65%
	375	  	53.70%
	376	  	53.75%
	377	  	53.80%
	378	  	53.85%
	379	  	53.90%
	380	  	53.95%
	381	  	54.00%
	382	  	54.05%
	383	  	54.10%
	384	  	54.15%
	385	  	54.20%
	386	  	54.25%
	387	  	54.30%
	388	  	54.35%
	389	  	54.40%
	390	  	54.45%
	391	  	54.50%
	392	  	54.55%
	393	  	54.60%
	394	  	54.65%
	395	  	54.70%
	396	  	54.75%
	397	  	54.80%
	398	  	54.85%
	399	  	54.90%
	400	  	54.95%
	401	  	55.00%

 
 

  
 Sch. E-5 

 SCHEDULE F 

S&P Weighted Average Life Matrix 
  

			
	 Case
	  	 Weighted Average

Life Values

	1	  	9.00
	2	  	8.75
	3	  	8.50
	4	  	8.25
	5	  	8.00
	6	  	7.75
	7	  	7.50
	8	  	7.25
	9	  	7.00
	10	  	6.75
	11	  	6.50
	12	  	6.25
	13	  	6.00
	14	  	5.75
	15	  	5.50
	16	  	5.25
	17	  	5.00
	18	  	4.75
	19	  	4.50
	20	  	4.25
	21	  	4.00
	22	  	3.75
	23	  	3.50
	24	  	3.25
	25	  	3.00
	26	  	2.75
	27	  	2.50
	28	  	2.25
	29	  	2.00
	30	  	1.75
	31	  	1.50
	32	  	1.25
	33	  	1.00
	34	  	0.75
	35	  	0.50
	36	  	0.25
	37	  	0.00

  
 Sch. F-1 

 SCHEDULE G 

S&P CDO Monitor Formula Definitions 

As used for purposes of the S&P CDO Monitor Test, the following terms shall have the meanings set forth below: 

“S&P CDO Monitor Adjusted BDR” means, with respect to the Loans, the threshold value for the S&P CDO Monitor Test,
calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Loans relative to the Target Initial Par Amount as follows: 

BDR * (OP / NP) + (NP – OP) / (NP * (1 – WARR)), where 
  

			
	 Term
	  	 Meaning

	BDR	  	S&P CDO Monitor BDR
	OP	  	Target Initial Par Amount
	NP	  	the sum of the Aggregate Principal Balances of the Collateral Loans with an S&P Rating of “CCC-” or higher, Principal Proceeds, the aggregate amount of Undrawn
Commitments and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below “CCC-”
	WARR	  	Weighted Average S&P Recovery Rate

 “S&P CDO Monitor BDR” means the value calculated using the following formula relating to
the Borrower’s portfolio: 
 S&P CDO Monitor BDR = C0 + (C1 * Weighted Average Spread) + (C2 * Weighted Average S&P Recovery
Rate), where C0 = 0.192813, C1 = 2.672953 and C2 = 1.271946. C0, C1 and C2 will not change unless S&P provides an updated S&P CDO Monitor Input File at the request of the Services Provider following the Closing Date. 

“S&P CDO Monitor Input File” means a file containing the formula relating to the Borrower’s portfolio used to
calculate the S&P CDO Monitor BDR. 
 “S&P CDO Monitor SDR” means the percentage derived from the following
equation: 
 0.137223 + (SPWARF/8829.01) – (DRD/20413.6) – (ODM/9556.72) – (IDM/2256.55) – (RDM/40.2751) + (WAL/26.7396),
where 
  

			
	 Term
	  	 Meaning

	 DRD
	  	S&P Default Rate Dispersion
	 ODM
	  	S&P Obligor Diversity Measure
	 IDM
	  	S&P Industry Diversity Measure

  
 Sch. G-1 

			
	 Term
	  	 Meaning

	 RDM
	  	S&P Regional Diversity Measure
	 SPWARF
	  	S&P Weighted Average Rating Factor
	 WAL
	  	S&P Weighted Average Life

 “S&P Default Rate Dispersion” means, with respect to all Collateral Loans with an S&P
Rating of “CCC-” or higher, (A) the sum of the product of (i) the Principal Balance of each such Collateral Loan and (ii) the absolute value of (x) the S&P Rating Factor
minus (y) the S&P Weighted Average Rating Factor divided by (B) the Aggregate Principal Balance for all such Collateral Loans. 

“S&P Industry Diversity Measure” means a measure calculated by determining the Aggregate Principal Balance of the
Collateral Loans (with an S&P Rating of “CCC-” or higher) within each S&P Industry Classification in the portfolio, then dividing each of these amounts by the Aggregate Principal Balance of
the Collateral Loans (with an S&P Rating of “CCC-” or higher) from all the S&P Industry Classifications in the portfolio, squaring the result for each industry, then taking the reciprocal of
the sum of these squares. 
 “S&P Obligor Diversity Measure” means a measure calculated by determining the Aggregate
Principal Balance of the Collateral Loans (with an S&P Rating of “CCC-” or higher) from each Obligor and its affiliates, then dividing each such Aggregate Principal Balance by the Aggregate
Principal Balance of Collateral Loans (with an S&P Rating of “CCC-” or higher) from all the Obligors in the portfolio, then squaring the result for each Obligor, then taking the reciprocal of the
sum of these squares. 
 “S&P Rating Factor” means, with respect to any Collateral Loan, the value determined (based on
the five-year asset default rate multiplied by 10,000) in accordance with the below table (or such other published table by S&P that the Services Provider provides to the Administrative Agent and the Collateral Administrator): 

 

			
	 S&P Rating
	  	S&P Rating Factor
	 AAA
	  	13.51
	 AA+
	  	26.75
	 AA
	  	46.36
	 AA-
	  	63.90
	 A+
	  	99.50
	 A
	  	146.35
	 A-
	  	199.83
	 BBB+
	  	271.01
	 BBB
	  	361.17
	 BBB-
	  	540.42
	 BB+
	  	784.92
	 BB
	  	1,233.63
	 BB-
	  	1,565.44
	 B+
	  	1,982.00
	 B
	  	2,859.50
	 B-
	  	3,610.11
	 CCC+
	  	4,641.00
	 CCC
	  	5,293.00
	 CCC-
	  	5,751.10
	 CC
	  	10,000.00
	 SD
	  	10,000.00
	 D
	  	10,000.00

  
 Sch. G-2 

 “S&P Regional Diversity Measure” means a measure calculated by
determining the Aggregate Principal Balance of the Collateral Loans (with an S&P Rating of “CCC-” or higher) within each S&P region set forth in the table set forth below, then dividing each
of these amounts by the Aggregate Principal Balance of the Collateral Loans (with an S&P Rating of “CCC-” or higher) from all S&P regions in the portfolio, squaring the result for each
region, then taking the reciprocal of the sum of these squares. 
 “S&P Weighted Average Life” means, on any date of
determination, a number calculated by determining the number of years between the current date and the maturity date of each Collateral Loan (with an S&P Rating of “CCC-” or higher), multiplying
each Collateral Loan’s Principal Balance by its number of years, summing the results of all Collateral Loans in the portfolio, and dividing such amount by the Aggregate Principal Balance of all Collateral Loans (with an S&P Rating of “CCC-” or higher). 
 “S&P Weighted Average Rating Factor” means, with
respect to all Collateral Loans with an S&P Rating of “CCC-” or higher, (A) the sum of the product of (i) the Principal Balance of each such Collateral Loan and (ii) S&P Rating
Factor divided by (B) the Aggregate Principal Balance for all such Collateral Loans. 
 “Target Initial Par
Amount” means $446,000,000. 

  
 Sch. G-3 

							
	 Region

Code
	  	 Region Name
	  	Country
Code	  	 Country Name

	17	  	Africa: Eastern	  	253	  	Djibouti
	17	  	Africa: Eastern	  	291	  	Eritrea
	17	  	Africa: Eastern	  	251	  	Ethiopia
	17	  	Africa: Eastern	  	254	  	Kenya
	17	  	Africa: Eastern	  	252	  	Somalia
	17	  	Africa: Eastern	  	249	  	Sudan
	12	  	Africa: Southern	  	247	  	Ascension
	12	  	Africa: Sub-Saharan	  	267	  	Botswana
	12	  	Africa: Sub-Saharan	  	266	  	Lesotho
	12	  	Africa: Sub-Saharan	  	230	  	Mauritius
	12	  	Africa: Sub-Saharan	  	264	  	Namibia
	12	  	Africa: Sub-Saharan	  	248	  	Seychelles
	12	  	Africa: Sub-Saharan	  	27	  	South Africa
	12	  	Africa: Sub-Saharan	  	290	  	St. Helena
	12	  	Africa: Sub-Saharan	  	268	  	Swaziland
	13	  	Africa: Sub-Saharan	  	244	  	Angola
	13	  	Africa: Sub-Saharan	  	226	  	Burkina Faso
	13	  	Africa: Sub-Saharan	  	257	  	Burundi
	13	  	Africa: Sub-Saharan	  	225	  	Cote d’lvoire
	13	  	Africa: Sub-Saharan	  	240	  	Equatorial Guinea
	13	  	Africa: Sub-Saharan	  	241	  	Gabonese Republic
	13	  	Africa: Sub-Saharan	  	220	  	Gambia
	13	  	Africa: Sub-Saharan	  	233	  	Ghana
	13	  	Africa: Sub-Saharan	  	224	  	Guinea
	13	  	Africa: Sub-Saharan	  	245	  	Guinea-Bissau
	13	  	Africa: Sub-Saharan	  	231	  	Liberia
	13	  	Africa: Sub-Saharan	  	261	  	Madagascar
	13	  	Africa: Sub-Saharan	  	265	  	Malawi
	13	  	Africa: Sub-Saharan	  	223	  	Mali
	13	  	Africa: Sub-Saharan	  	222	  	Mauritania
	13	  	Africa: Sub-Saharan	  	258	  	Mozambique
	13	  	Africa: Sub-Saharan	  	227	  	Niger
	13	  	Africa: Sub-Saharan	  	234	  	Nigeria
	13	  	Africa: Sub-Saharan	  	250	  	Rwanda
	13	  	Africa: Sub-Saharan	  	239	  	Sao Tome & Principe
	13	  	Africa: Sub-Saharan	  	221	  	Senegal
	13	  	Africa: Sub-Saharan	  	232	  	Sierra Leone
	13	  	Africa: Sub-Saharan	  	255	  	Tanzania/Zanzibar
	13	  	Africa: Sub-Saharan	  	228	  	Togo
	13	  	Africa: Sub-Saharan	  	256	  	Uganda
	13	  	Africa: Sub-Saharan	  	260	  	Zambia
	13	  	Africa: Sub-Saharan	  	263	  	Zimbabwe
	13	  	Africa: Sub-Saharan	  	229	  	Benin

  
 Sch. G-4 

							
	13	  	Africa: Sub-Saharan	  	237	  	Cameroon
	13	  	Africa: Sub-Saharan	  	238	  	Cape Verde Islands
	13	  	Africa: Sub-Saharan	  	236	  	Central African Republic
	13	  	Africa: Sub-Saharan	  	235	  	Chad
	13	  	Africa: Sub-Saharan	  	269	  	Comoros
	13	  	Africa: Sub-Saharan	  	242	  	Congo-Brazzaville
	13	  	Africa: Sub-Saharan	  	243	  	Congo-Kinshasa
	3	  	Americas: Andean	  	591	  	Bolivia
	3	  	Americas: Andean	  	57	  	Colombia
	3	  	Americas: Andean	  	593	  	Ecuador
	3	  	Americas: Andean	  	51	  	Peru
	3	  	Americas: Andean	  	58	  	Venezuela
	4	  	Americas: Mercosur and Southern Cone	  	54	  	Argentina
	4	  	Americas: Mercosur and Southern Cone	  	55	  	Brazil
	4	  	Americas: Mercosur and Southern Cone	  	56	  	Chile
	4	  	Americas: Mercosur and Southern Cone	  	595	  	Paraguay
	4	  	Americas: Mercosur and Southern Cone	  	598	  	Uruguay
	1	  	Americas: Mexico	  	52	  	Mexico
	2	  	Americas: Other Central and Caribbean	  	1264	  	Anguilla
	2	  	Americas: Other Central and Caribbean	  	1268	  	Antigua
	2	  	Americas: Other Central and Caribbean	  	1242	  	Bahamas
	2	  	Americas: Other Central and Caribbean	  	246	  	Barbados
	2	  	Americas: Other Central and Caribbean	  	501	  	Belize
	2	  	Americas: Other Central and Caribbean	  	441	  	Bermuda
	2	  	Americas: Other Central and Caribbean	  	284	  	British Virgin Islands
	2	  	Americas: Other Central and Caribbean	  	345	  	Cayman Islands
	2	  	Americas: Other Central and Caribbean	  	506	  	Costa Rica
	2	  	Americas: Other Central and Caribbean	  	809	  	Dominican Republic
	2	  	Americas: Other Central and Caribbean	  	503	  	El Salvador
	2	  	Americas: Other Central and Caribbean	  	473	  	Grenada
	2	  	Americas: Other Central and Caribbean	  	590	  	Guadeloupe
	2	  	Americas: Other Central and Caribbean	  	502	  	Guatemala
	2	  	Americas: Other Central and Caribbean	  	504	  	Honduras
	2	  	Americas: Other Central and Caribbean	  	876	  	Jamaica
	2	  	Americas: Other Central and Caribbean	  	596	  	Martinique
	2	  	Americas: Other Central and Caribbean	  	505	  	Nicaragua
	2	  	Americas: Other Central and Caribbean	  	507	  	Panama
	2	  	Americas: Other Central and Caribbean	  	869	  	St. Kitts/Nevis
	2	  	Americas: Other Central and Caribbean	  	758	  	St. Lucia
	2	  	Americas: Other Central and Caribbean	  	784	  	St. Vincent & Grenadines
	2	  	Americas: Other Central and Caribbean	  	597	  	Suriname
	2	  	Americas: Other Central and Caribbean	  	868	  	Trinidad& Tobago
	2	  	Americas: Other Central and Caribbean	  	649	  	Turks & Caicos
	2	  	Americas: Other Central and Caribbean	  	297	  	Aruba
	2	  	Americas: Other Central and Caribbean	  	53	  	Cuba

  
 Sch. G-5 

									
	2	  	Americas: Other Central and Caribbean	  	 	599	 	  	Curacao
	2	  	Americas: Other Central and Caribbean	  	767	 	  	Dominica
	2	  	Americas: Other Central and Caribbean	  	594	 	  	French Guiana
	2	  	Americas: Other Central and Caribbean	  	592	 	  	Guyana
	2	  	Americas: Other Central and Caribbean	  	509	 	  	Haiti
	2	  	Americas: Other Central and Caribbean	  	664	 	  	Montserrat
	101	  	Americas: U.S. and Canada	  	2	 	  	Canada
	101	  	Americas: U.S. and Canada	  	1	 	  	USA
	7	  	Asia: China, Hong Kong, Taiwan	  	86	 	  	China
	7	  	Asia: China, Hong Kong, Taiwan	  	852	 	  	Hong Kong
	7	  	Asia: China, Hong Kong, Taiwan	  	886	 	  	Taiwan
	5	  	Asia: India, Pakistan and Afghanistan	  	93	 	  	Afghanistan
	5	  	Asia: India, Pakistan and Afghanistan	  	91	 	  	India
	5	  	Asia: India, Pakistan and Afghanistan	  	92	 	  	Pakistan
	6	  	Asia: Other South	  	880	 	  	Bangladesh
	6	  	Asia: Other South	  	975	 	  	Bhutan
	6	  	Asia: Other South	  	960	 	  	Maldives
	6	  	Asia: Other South	  	977	 	  	Nepal
	6	  	Asia: Other South	  	94	 	  	Sri Lanka
	8	  	Asia: Southeast, Korea and Japan	  	673	 	  	Brunei
	8	  	Asia: Southeast, Korea and Japan	  	855	 	  	Cambodia
	8	  	Asia: Southeast, Korea and Japan	  	62	 	  	Indonesia
	8	  	Asia: Southeast, Korea and Japan	  	81	 	  	Japan
	8	  	Asia: Southeast, Korea and Japan	  	856	 	  	Laos
	8	  	Asia: Southeast, Korea and Japan	  	60	 	  	Malaysia
	8	  	Asia: Southeast, Korea and Japan	  	95	 	  	Myanmar
	8	  	Asia: Southeast, Korea and Japan	  	850	 	  	North Korea
	8	  	Asia: Southeast, Korea and Japan	  	63	 	  	Philippines
	8	  	Asia: Southeast, Korea and Japan	  	65	 	  	Singapore
	8	  	Asia: Southeast, Korea and Japan	  	82	 	  	South Korea
	8	  	Asia: Southeast, Korea and Japan	  	66	 	  	Thailand
	8	  	Asia: Southeast, Korea and Japan	  	84	 	  	Vietnam
	8	  	Asia: Southeast, Korea and Japan	  	670	 	  	East Timor
	105	  	Asia-Pacific: Australia and New Zealand	  	61	 	  	Australia
	105	  	Asia-Pacific: Australia and New Zealand	  	682	 	  	Cook Islands
	105	  	Asia-Pacific: Australia and New Zealand	  	64	 	  	New Zealand
	9	  	Asia-Pacific: Islands	  	679	 	  	Fiji
	9	  	Asia-Pacific: Islands	  	689	 	  	French Polynesia
	9	  	Asia-Pacific: Islands	  	686	 	  	Kiribati
	9	  	Asia-Pacific: Islands	  	691	 	  	Micronesia
	9	  	Asia-Pacific: Islands	  	674	 	  	Nauru
	9	  	Asia-Pacific: Islands	  	687	 	  	New Caledonia
	9	  	Asia-Pacific: Islands	  	680	 	  	Palau
	9	  	Asia-Pacific: Islands	  	675	 	  	Papua New Guinea
	9	  	Asia-Pacific: Islands	  	685	 	  	Samoa

  
 Sch. G-6 

									
	9	  	Asia-Pacific: Islands	  	 	677	 	  	Solomon Islands
	9	  	Asia-Pacific: Islands	  	676	 	  	Tonga
	9	  	Asia-Pacific: Islands	  	688	 	  	Tuvalu
	9	  	Asia-Pacific: Islands	  	678	 	  	Vanuatu
	15	  	Europe: Central	  	420	 	  	Czech Republic
	15	  	Europe: Central	  	372	 	  	Estonia
	15	  	Europe: Central	  	36	 	  	Hungary
	15	  	Europe: Central	  	371	 	  	Latvia
	15	  	Europe: Central	  	370	 	  	Lithuania
	15	  	Europe: Central	  	48	 	  	Poland
	15	  	Europe: Central	  	421	 	  	Slovak Republic
	16	  	Europe: Eastern	  	355	 	  	Albania
	16	  	Europe: Eastern	  	387	 	  	Bosnia and Herzegovina
	16	  	Europe: Eastern	  	359	 	  	Bulgaria
	16	  	Europe: Eastern	  	385	 	  	Croatia
	16	  	Europe: Eastern	  	383	 	  	Kosovo
	16	  	Europe: Eastern	  	389	 	  	Macedonia
	16	  	Europe: Eastern	  	382	 	  	Montenegro
	16	  	Europe: Eastern	  	40	 	  	Romania
	16	  	Europe. Eastern	  	381	 	  	Serbia
	16	  	Europe: Eastern	  	90	 	  	Turkey
	14	  	Europe: Russia & CIS	  	374	 	  	Armenia
	14	  	Europe: Russia & CIS	  	994	 	  	Azerbaijan
	14	  	Europe: Russia & CIS	  	375	 	  	Belarus
	14	  	Europe: Russia & CIS	  	995	 	  	Georgia
	14	  	Europe: Russia & CIS	  	8	 	  	Kazakhstan
	14	  	Europe: Russia & CIS	  	996	 	  	Kyrgyzstan
	14	  	Europe: Russia & CIS	  	373	 	  	Moldova
	14	  	Europe: Russia & CIS	  	976	 	  	Mongolia
	14	  	Europe: Russia & CIS	  	7	 	  	Russia
	14	  	Europe: Russia & CIS	  	992	 	  	Tajikistan
	14	  	Europe: Russia & CIS	  	993	 	  	Turkmenistan
	14	  	Europe: Russia & CIS	  	380	 	  	Ukraine
	14	  	Europe: Russia & CIS	  	998	 	  	Uzbekistan
	102	  	Europe: Western	  	376	 	  	Andorra
	102	  	Europe: Western	  	43	 	  	Austria
	102	  	Europe: Western	  	32	 	  	Belgium
	102	  	Europe: Western	  	357	 	  	Cyprus
	102	  	Europe: Western	  	45	 	  	Denmark
	102	  	Europe: Western	  	358	 	  	Finland
	102	  	Europe: Western	  	33	 	  	France
	102	  	Europe: Western	  	49	 	  	Germany
	102	  	Europe: Western	  	30	 	  	Greece
	102	  	Europe: Western	  	354	 	  	Iceland
	102	  	Europe: Western	  	353	 	  	Ireland

  
 Sch. G-7 

							
	102	  	Europe: Western	  	101	  	Isle of Man
	102	  	Europe: Western	  	39	  	Italy
	102	  	Europe: Western	  	102	  	Liechtenstein
	102	  	Europe: Western	  	352	  	Luxembourg
	102	  	Europe: Western	  	356	  	Malta
	102	  	Europe: Western	  	377	  	Monaco
	102	  	Europe: Western	  	31	  	Netherlands
	102	  	Europe: Western	  	47	  	Norway
	102	  	Europe: Western	  	351	  	Portugal
	102	  	Europe: Western	  	386	  	Slovenia
	102	  	Europe: Western	  	34	  	Spain
	102	  	Europe: Western	  	46	  	Sweden
	102	  	Europe: Western	  	41	  	Switzerland
	102	  	Europe: Western	  	44	  	United Kingdom
	10	  	Middle East: Gulf States	  	973	  	Bahrain
	10	  	Middle East: Gulf States	  	98	  	Iran
	10	  	Middle East: Gulf States	  	964	  	Iraq
	10	  	Middle East: Gulf States	  	965	  	Kuwait
	10	  	Middle East: Gulf States	  	968	  	Oman
	10	  	Middle East: Gulf States	  	974	  	Qatar
	10	  	Middle East: Gulf States	  	966	  	Saudi Arabia
	10	  	Middle East: Gulf States	  	971	  	United Arab Emirates
	10	  	Middle East: Gulf States	  	967	  	Yemen
	11	  	Middle East: MENA	  	213	  	Algeria
	11	  	Middle East: MENA	  	20	  	Egypt
	11	  	Middle East: MENA	  	972	  	Israel
	11	  	Middle East: MENA	  	962	  	Jordan
	11	  	Middle East: MENA	  	961	  	Lebanon
	11	  	Middle East: MENA	  	212	  	Morocco
	11	  	Middle East: MENA	  	970	  	Palestinian Settlements
	11	  	Middle East: MENA	  	963	  	Syrian Arab Republic
	11	  	Middle East: MENA	  	216	  	Tunisia
	11	  	Middle East: MENA	  	1212	  	Western Sahara
	11	  	Middle East: MENA	  	218	  	Libya

  
 Sch. G-8 

 EXHIBIT A 

[FORM OF NOTE FOR [REVOLVING][TERM] LOANS] 
  

			
	$__________	  	_________, ____

 FOR VALUE RECEIVED, the undersigned, ORCC Financing IV LLC, a Delaware limited liability company (the
“Borrower”), hereby unconditionally promises to pay to [______] (the “Lender”), or registered assigns, in lawful money of the United States of America and in immediately available funds, the principal amount of
[___________________] DOLLARS. The principal amount shall be paid in the amounts and on the dates specified in the Credit Agreement. The Borrower further agrees to pay interest in like money on the unpaid principal amount hereof from time to time
outstanding at the rates and on the dates specified in the Credit Agreement. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

The Borrower promises to pay interest, on demand, on any overdue principal and, to the extent permitted by law, overdue interest from their
due dates at the rate or rates provided in the Credit Agreement. 
 The holder of this Note is authorized to endorse on
Schedule I annexed hereto and made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date and amount of each [Revolving][Term] Loan made pursuant to the Credit Agreement
and the date and amount of each payment or prepayment of principal thereof and each continuation thereof. Each such endorsement shall constitute prima facie evidence of the accuracy of the information endorsed. The failure to make any such
endorsement shall not affect the obligations of the Borrower in respect of such [Revolving][Term] Loan. 
 This Note (a) is a term Note
and evidences the [Revolving][Term] Loans made by the Lender under, and is one of the Notes referred to in, the Credit Agreement, dated as of August 2, 2019 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Borrower, the Lenders party thereto from time to time Société Générale, as Administrative Agent, State Street Bank and Trust Company, as Collateral Agent, Collateral Administrator and
Custodian and Cortland Capital Markets Service LLC, as Document Custodian, (b) is subject to the provisions of the Credit Agreement and (c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit
Agreement. This Note is secured as provided in the Loan Documents. Reference is hereby made to the Loan Documents for a description of the properties and assets in which a security interest has been granted, the nature and extent of the security,
the terms and conditions upon which the security interests were granted and the rights of the holder of this Note in respect thereof. 

Upon the occurrence of any one or more of the Events of Default, all amounts then remaining unpaid on this Note shall become, or may be
declared to be, immediately due and payable, all as provided in the Credit Agreement. 

  
 Exh. A-1 

 All parties now and hereafter liable with respect to this Note, whether maker, principal,
endorser or otherwise, hereby waive presentment, demand, protest and all other notices of any kind. 
 Except as permitted by
Section 12.6 of the Credit Agreement, this Note may not be participated by the Lender to any other Person. Without limiting the generality of the foregoing, this Note may be participated in whole or in part only by
registration of such participation on the Participant Register. 
 Except as permitted by Section 12.6 of the
Credit Agreement, this Note may not be assigned by the Lender to any other Person. Without limiting the generality of the foregoing, this Note may be assigned in whole or in part only by registration of such assignment or sale on the Register. 

The failure to provide the Borrower and its agents with the properly completed and signed tax certifications (generally, in the case of
U.S. federal income tax, an Internal Revenue Service Form W-9 or Form W-8, as applicable (or applicable successor form)) or the failure to provide or
update its FATCA information may result in withholding from payments in respect of the Note, including U.S. federal withholding or back-up withholding. “FATCA” means Sections 1471
through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any legislation, law, regulation, guidance notes or practice enacted or promulgated pursuant to an intergovernmental agreement entered into in connection with
such Sections of the Code. Solely for the purposes of this paragraph, “FATCA” shall include any amendment made to FATCA after the date of the Credit Agreement. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. 

 

			
	ORCC FINANCING IV LLC
		
	By:	 	 
		 	Name:
		 	Title:

  
 Exh. A-2 

 SCHEDULE I 

This Note evidences the [Revolving][Term] Loans made by [______] (the “Lender”) to ORCC FINANCING IV LLC (the “Borrower”)
under the Credit Agreement dated as of August 2, 2019 among the Borrower, as borrower, the Lenders party thereto from time to time, Société Générale, as Administrative Agent, State Street Bank and Trust Company, as
Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Markets Service LLC, as Document Custodian, in the principal amounts and on the dates set forth below, subject to the payments and prepayments of principal set forth
below: 
  

									
	 DATE
	  	 PRINCIPAL

AMOUNT
 LOANED
	  	 PRINCIPAL

AMOUNT PAID
 OR
PREPAID
	  	 PRINCIPAL

BALANCE
OUTSTANDING
	  	 NOTATION

BY

  
 Exh. A-3 

 EXHIBIT B 

[FORM OF NOTICE OF BORROWING] 

[Date] 
 Société
Générale, 
 as Administrative Agent 
 New York,
NY 10167 
 Attention: Julien Thinat 
 Tel.: (212)-278-7598 
 Email: julien.thinat@sgcib.com 

with a copy to: 
 Société Générale

 480 Washington Blvd 
 Jersey City, NJ 07310 

Tel.: (201)-839-8460 

Fax: 201-693-4233 

Attention: Cheriese Brathwaite 
 Email: oper-fin-serv.us@sgss.socgen.com 
 This Notice of Borrowing is made pursuant to
Section 2.2 of that certain Credit Agreement dated as of August 2, 2019 (as the same may from time to time be amended, supplemented, waived or modified, the “Credit Agreement”) among ORCC Financing IV
LLC as borrower (the “Borrower”), the Lenders parties thereto from time to time (collectively, the “Lenders”), Société Générale, as administrative agent (the “Administrative
Agent”), State Street Bank and Trust Company, as Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Market Services LLC, as Document Custodian. Capitalized terms used but not otherwise defined herein shall
have the respective meanings assigned to such terms in the Credit Agreement. 
  

	1.	 The Borrower hereby requests that on ______________, ____ (the “Borrowing Date”) it receive a
Borrowing of [Revolving][Term] Loans under the Credit Agreement in an aggregate principal amount of _____________ Dollars ($_______) (the “Requested Amount”). 

 

	2.	 The Borrower hereby gives notice of its request for such [Revolving][Term] Loans in the aggregate principal
amount equal to the Requested Amount to the Lenders and the Administrative Agent pursuant to Section 2.2 of the Credit Agreement and requests the Lenders to remit, or cause to be remitted, the proceeds thereof to the
Collection Account in its respective Percentage Share of the Requested Amount. 

  

  
 Exh. B-1 

	3.	 The Borrower certifies that immediately after giving effect to the proposed Borrowing on the Borrowing Date
each of the applicable conditions precedent set forth in Section 3.2 of the Credit Agreement is satisfied, including: 

[(i) the conditions precedent set forth in Section 3.1 of the Credit Agreement shall have been fully satisfied on or
prior to the Borrowing Date referred to above; 
  

	 	(ii)	 The Agents shall have received evidence satisfactory to the Administrative Agent and the Lenders that
(w) the grant of security pursuant to the Granting Clause herein of all of the Borrower’s right, title and interest in and to the Collateral pledged to the Collateral Agent on the Closing Date shall be effective in all relevant
jurisdictions, (x) delivery of such Collateral in accordance with Section 8.7 of the Credit Agreement to the Custodian or the Document Custodian, as applicable, shall have been effected, (y) the Borrower (or the
Services Provider on behalf of the Borrower) will deliver copies of all Related Contracts in its possession to the Document Custodian in accordance with Sections 5.26 and 14.1(b) of the Credit Agreement and
(z) the Collateral Agent (for the benefit of the Secured Parties) shall have a security interest in such Collateral. 

  

	 	(iii)	 The Agents shall have received a certificate of an Authorized Officer of the Services Provider (which
certificate shall include a schedule listing the Collateral Loans owned by the Borrower on the Initial Borrowing Date), to the effect that, (1) in the case of each item of Collateral pledged to the Collateral Agent, on the Initial Borrowing
Date and immediately prior to the delivery thereof on or prior to the Initial Borrowing Date, (A)(w) the Borrower is the owner of such Collateral free and clear of any liens, claims or encumbrances of any nature whatsoever except for Permitted Liens
and those which have been released on or prior to the Initial Borrowing Date; (x) the Borrower has acquired its ownership in such Collateral in good faith without notice of any adverse claim, except as described in clause (w) above; (y)
the Borrower has not assigned, pledged or otherwise encumbered any interest in such Collateral (or, if any such interest has been assigned, pledged or otherwise encumbered, it has been released) other than pursuant to this Agreement; and
(z) the Borrower has full right to grant a security interest in and assign and pledge such Collateral to the Collateral Agent; and (B) upon grant by the Borrower, the Collateral Agent has a first priority perfected security interest in the
Collateral, except in respect of any Permitted Lien or as otherwise permitted by this Agreement and (2) immediately before and after giving effect to the Borrowings, the Overcollateralization Ratio Test shall be satisfied (as demonstrated in a
writing attached to the certificate of the Services Provider).]1 

 

	1 	 To be added only for the Initial Borrowing 

  
 Exh. B-2 

	 	(1)	 immediately after giving effect to such Borrowing (and, for the avoidance of doubt, if any of the following
limits would be exceeded on a pro forma basis, such Borrowing shall not be permitted), 

 (i) in the case of the
Borrowing of a Revolving Loan, (x) the aggregate outstanding principal amount of the Revolving Loans shall not exceed the Total Revolving Commitment as in effect on such Borrowing Date and (y) the Senior Advance Rate Test is satisfied; and

 (ii) in the case of the Borrowing of a Term Loan, the aggregate outstanding principal amount of the Term Loans shall not exceed the Total
Term Commitment as in effect on such Borrowing Date; 
  

	 	(2)	 no Commitment Shortfall shall exist after giving effect to such Borrowing; 

 

	 	(3)	 [immediately before and after such Borrowing, no Default shall have occurred and be continuing both before and
after giving effect to the funding of such Loan; 

  

	 	(4)	 the representations and warranties of the Borrower contained in this Agreement and each of the other Loan
Documents shall be true and correct in all material respects on and as of the date of such Borrowing (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material
respects as of such earlier date) both before and after giving effect to the funding of such Loan; 

  

	 	(5)	 no law or regulation shall have been adopted, no order, judgment or decree of any Governmental Authority shall
have been issued, and no litigation shall be pending or, to the actual knowledge of a Senior Authorized Officer of the Borrower, threatened, which does or, with respect to any threatened litigation, seeks to enjoin, prohibit or restrain the funding
or repayment of the Loans or the consummation of the transactions among the Borrower, the Services Provider, the Lenders and the Agents contemplated by this Agreement; 

 

	 	(6)	 each of the Loan Documents remains in full force and effect and is the binding and enforceable obligation of
the Borrower and the Services Provider, in each case, to the extent such Person is a party thereto (except for those provisions of any Loan Document not material, individually or in the aggregate with other affected provisions, to the interests of
any of the Lenders); and 

  

	 	(7)	 immediately before and after giving effect to the requested Borrowing, the Eligibility Criteria shall be
satisfied (as certified in a writing attached to such Notice of Borrowing)]2 

  

 

	2 	 Omit paragraphs 3 through 7 in the case of Revolving Loans obtained to fund Unfunded Amounts.

  
 Exh. B-3 

 IN WITNESS WHEREOF, this Notice of Borrowing has been executed as of the date first
written above. 
  

			
	 ORCC FINANCING IV LLC

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

  
 Exh. B-4 

 Schedule I 

to Notice of Borrowing 

Calculation of the Eligibility Criteria 

  
 Exh. B-5 

 EXHIBIT C 

[FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT] 

Dated as of [_____] 

Reference is made to the Credit Agreement, dated as of August 2, 2019 (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”), among ORCC Financing IV LLC, a Delaware limited liability company (the “Borrower”), the Lenders party thereto from time to time, Société Générale, as
administrative agent for the Lenders thereunder (in such capacity, the “Administrative Agent”), State Street Bank and Trust Company, as Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Market
Services LLC, as Document Custodian. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

The Assignor identified on Schedule I hereto (the “Assignor”) and the Assignee identified on
Schedule I hereto (the “Assignee”) agree as follows: 
 (i) The Assignor hereby
irrevocably sells and assigns to the Assignee without recourse to the Assignor, and the Assignee hereby irrevocably purchases [for an agreed consideration] [for a purchase price of [____]]3 and
assumes from the Assignor without recourse to the Assignor, as of the Effective Date (as defined below), the interest described on Schedule I hereto (the “Assigned Interest”). 

(ii) The Assignor (a) makes no representation or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with the Credit Agreement or with respect to the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, any other Loan Document or any other
instrument or document furnished pursuant thereto, other than that the Assignor is the legal and beneficial owner of the interests being assigned by it hereunder and that such interest is free and clear of any such adverse claim; (b) makes no
representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower or the Services Provider or the performance or observance by the Borrower or the Services Provider of any of their respective
obligations under the Credit Agreement or any other Loan Document or any other instrument or document furnished pursuant hereto or thereto; and (c) attaches all Notes held by it evidencing the Assigned Interest and (1) requests that the
Administrative Agent, upon request by the Assignee, exchange the attached Notes for a new Note or Notes payable to the Assignee and (2) if the Assignor has retained any Loans, requests that the Administrative Agent exchange the attached Notes
for a new Note or Notes payable to the Assignor, in each case in amounts which reflect the assignment being made hereby (and after giving effect to any other assignments which have become effective on the Effective Date). 

 
  

	3 	 Insert the applicable formulation, based on the parties’ preference. 

  
 Exh. C-1 

 (iii) The Assignee (a) represents and warrants that it is legally
authorized to enter into this Assignment and Assumption Agreement; (b) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements and other information delivered pursuant to
Section 5.1 of the Credit Agreement and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption Agreement; (c) agrees
that, except as may be otherwise expressly agreed in writing between the Assignee, on the one hand, and the Assignor, an Agent or a Lender, as the case may be, on the other hand, it will, independently and without reliance upon the Assignor, such
Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, the other Loan Documents or any
other instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement, the other
Loan Documents or any other instrument or document furnished pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof, together with such powers as are incidental thereto; (e) agrees that it will be bound by
the provisions of the Credit Agreement (including Section 11.4(d) thereof) and will perform in accordance with its terms all the obligations which by the terms of the Credit Agreement are required to be performed by it as a
Lender; and (f) represents and warrants that it (and each account for which it is acquiring the Assigned Interest) is a “qualified purchaser” for purposes of Section 3(c)(7) of the Investment Company Act. 

(iv) The effective date of this Assignment and Assumption Agreement shall be the Effective Date of Assignment described on
Schedule I hereto (the “Effective Date”). Following the execution of this Assignment and Assumption Agreement, it will be delivered to the Administrative Agent for acceptance by it and recording by the
Administrative Agent pursuant to the Credit Agreement, effective as of the Effective Date. 
 (v) Upon such acceptance and
recording, from and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) [to the Assignor for amounts which have accrued to
the Effective Date and to the Assignee for amounts which have accrued subsequent to the Effective Date] [to the Assignee whether such amounts have accrued prior to the Effective Date or accrue subsequent to the Effective Date]4. The Assignor and the Assignee shall make all appropriate adjustments in payments by the Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment
directly between themselves. 
 (vi) From and after the Effective Date, (a) the Assignee shall be a party to the Credit
Agreement and, to the extent provided in this Assignment and Assumption Agreement, have the rights and obligations of a Lender thereunder and under the other Loan Documents and shall be bound by the provisions thereof and (b) the Assignor
shall, to the extent provided in this Assignment and Assumption Agreement, relinquish its rights and be released from its obligations under the Credit Agreement. 
  

 

	4 	 Insert the applicable formulation, based on the agreement of the parties. If the latter formulation is used,
consider including the amount of accrued interest payable by the Assignee to the Assignor. 

  
 Exh. C-2 

 (vii) This Assignment and Assumption Agreement shall be governed by and
construed in accordance with the laws of the State of New York. 
 (viii) This Assignment and Assumption Agreement may
be executed in any number of counterparts, each of which so executed shall be deemed an original, but all such counterparts shall together constitute but one and the same instrument. This Assignment and Assumption Agreement shall become binding when
one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. 

[Remainder of page intentionally left blank | signature page follows] 

  
 Exh. C-3 

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

			
	 [INSERT NAME OF ASSIGNOR], as Assignor

		
	 By:
	 	 
		 	 Authorized Signatory

  

			
	 [INSERT NAME OF ASSIGNEE], as Assignee

		
	 By:
	 	 
		 	 Authorized Signatory

  

  
 Exh. C-4 

 Schedule I 

to Assignment and Assumption Agreement 
  

					
	Name of
Assignor:                                       
                                  	  	
			
	Name and address of Assignee:	  	 	  	
			
		  	 	  	
			
		  	 	  	
			
		  	 	  	
			
	Effective Date of Assignment:	  	 	  	
			
	Principal Amount of Loans Assigned:	  	$                    	  	
			
	Percentage of Loans Assigned:	  	                    %	  	
	
	U.S. Tax Compliance Certificate and applicable withholding forms (select one):

  

	 	☐	 Attached 

  

	 	☐	 Previously provided 

  
 Exh. C- 5 

 EXHIBIT D 

Scope of Collateral Report 
  

	1.	 The Aggregate Principal Balance of all Collateral Loans and Equity Securities 

 

	2.	 The Balance of all Eligible Investments and Cash in each of (together with location of each such Account):

  

	 	a.	 The Collection Account 

 

	 	b.	 The Payment Account 

  

	 	c.	 The Future Funding Reserve Account 

 

	 	d.	 The Interest Reserve Account 

 

	 	e.	 The Lender Collateral Account (and each Lender Collateral Subaccount) 

 

	 	f.	 The Custodial Account 

 

	 	g.	 The Closing Expense Account 

 

	3.	 Commitment, rating of and outstanding amounts for the Loans 

 

	4.	 The nature, source and amount of any proceeds in the Collection Account (including Principal Proceeds and
Interest Proceeds received since the date of determination of the last Collateral Report or Payment Date Report) and the Future Funding Reserve Account 

  

	5.	 Compliance level of Coverage Tests vs. test level then in effect 

 

	 	a.	 Calculation of Overcollateralization Ratio 

 

	 	b.	 Calculation of Interest Coverage Ratio 

 

	6.	 Compliance with Collateral Quality Test 

 

	 	a.	 Minimum Weighted Average Spread Test 

 

	 	b.	 Maximum Weighted Average Life Test 

 

	 	c.	 Minimum Diversity Score Test 

 

	 	d.	 Minimum Weighted Average S&P Recovery Rate Test 

  
 Exh. D-1 

	7.	 Compliance with Concentration Limitations 

 

	 	a.	 S&P Industry Classification 

 

	 	b.	 Obligor concentrations 

 

	 	c.	 First Lien/Last Out Loans and Second Lien Loans 

 

	 	d.	 Fixed Rate Obligations 

 

	 	e.	 Eligible Cov-Lite Loans 

 

	 	f.	 DIP Loans 

  

	 	g.	 Current Pay Obligations 

 

	 	h.	 Collateral Loans that permit payment of interest less frequently than quarterly 

 

	 	i.	 Revolving Collateral Loans and Delayed Funding Loans 

 

	 	j.	 Discount Loans 

  

	 	k.	 Aggregate Participation Exposure 

 

	 	l.	 The country of Domicile 

 

	 	m.	 CCC Collateral Loans 

 

	 	n.	 Collateral Loans for which the Obligor has a trailing twelve month EBITDA of less than $15,000,000 at the time
of acquisition 

  

	 	o.	 Long-Dated Loans 

 

	8.	 Listing of all Collateral Loans with attributes including 

 

	 	a.	 Obligor name 

  

	 	b.	 Maximum Principal Balance (commitment amount) 

 

	 	c.	 Principal Balance (outstanding amount) 

 

	 	d.	 Exposure Amount 

  

	 	e.	 Unsettled Amount 

  

	 	f.	 S&P Industry Classification 

 

	 	g.	 Whether each loan is fixed or floating 

  
 Exh. D-2 

	 	h.	 Spread over the applicable index or benchmark rate (for Floating Rate Obligations) 

 

	 	i.	 Interest coupon (for Fixed Rate Obligations) 

 

	 	j.	 Maturity date 

  

	 	k.	 S&P Rating, unless such rating is based on a Credit Estimate unpublished by S&P (and, in the event of a
downgrade or withdrawal of the applicable S&P Rating, the prior rating and the date such S&P Rating was changed) 

  

	 	l.	 S&P Recovery Rate 

 

	 	m.	 Whether such Collateral Loan is a Credit Risk Loan, Credit Improved Loan, Defaulted Loan, Current Pay
Obligation, Discount Loan, CCC Collateral Loan or First Lien/Last Out Loan 

  

	 	n.	 Country of Domicile 

  

	 	o.	 Frequency of interest payment 

 

	 	p.	 Revolving Collateral Loans or Delayed Funding Loans 

 

	 	q.	 Whether such Collateral Loan is a DIP Loan, is owned via Participation Interest or is an Eligible Cov-Lite Loan 

  

	 	r.	 The LIBOR floor or SOFR
floor in effect (if any) for each Collateral Loan 

  

	 	s.	 Whether such Collateral Loan is a Post-Transition S&P CCC Collateral Loan 

 

	 	t.	 Details of any Specified Change to any Related Contract with respect to such Collateral Loan

  

	9.	 Collateral Loan rating status (listing of all Collateral Loans) 

 

	 	a.	 Obligor name 

  

	 	b.	 Collateral Loan purchase date 

 

	 	c.	 S&P Rating, unless such rating is based on a Credit Estimate unpublished by S&P (and, in the event of a
downgrade or withdrawal of the applicable S&P Rating, the prior rating and the date such S&P Rating was changed) 

  

	 	d.	 Credit Estimate issue date (if applicable) 

 

	 	e.	 Date of expiry of Credit Estimate (if applicable) 

 

	 	f.	 Date of last amendment 

  
 Exh. D-3 

	10.	 For Defaulted Loans 

  

	 	a.	 Default Date 

  

	 	b.	 Days in Default 

  

	 	c.	 Principal Balance 

  

	 	d.	 Principal Collateralization Amount (and the method of calculation thereof) 

 

	 	e.	 If an Appraisal has been received in last 3 months 

 

	 	f.	 Appraisal Value 

  

	 	g.	 Whether any default of the type specified in clauses (a) and (b) of the definition of “Defaulted
Loan” is unrelated to credit-related issues 

  

	11.	 Participation Interests 

 

	 	a.	 All loans owned via Participation Interest 

 

	 	b.	 Selling Institution for each Participation Interest 

 

	 	c.	 S&P Rating for each Selling Institution 

 

	12.	 Weighted Average S&P Recovery Rate 

 

	13.	 Diversity Score 

  

	14.	 List of all First Lien/Last Out Loans 

 

	15.	 List all Discount Loans and applicable purchase price 

 

	16.	 List all Defaulted Loans 

 

	17.	 List all Long-Dated Loans 

 

	18.	 Five S&P Monitor benchmarks 

 

	19.	 S&P Rating 

  

	20.	 Calculation of concentration of Collateral Loans whose Obligors have a trailing twelve month EBITDA of less
than $15,000,000 at the time of such acquisition 

  

	21.	 List of all unelevated participations 

 

	22.	 Assets purchased or sold within the Due Period including 

 

	 	a.	 Facility Name 

  
 Exh. D-4 

	 	b.	 Trade/Settlement Dates 

 

	 	c.	 Reason for sale/ Transaction Motivation (e.g. Discretionary, Credit Risk, Credit Improved)

  

	 	d.	 Purchaser or seller is an affiliate of the Borrower? 

 

	 	e.	 Par amount 

  

	 	f.	 Price 

  

	 	g.	 Proceeds 

  

	 	h.	 Accrued interest 

  
 Exh. D-5 

 EXHIBIT E 

Scope of Payment Date Report 
  

	1.	 Quarterly Payment Date waterfall list application of all Interest Proceeds and Principal Proceeds

  

	2.	 Beginning and ending balance of the Loans 

 

	3.	 Beginning and ending balance of all Covered Accounts 

 

	4.	 Calculations of the Collateral Quality Test and Coverage Tests 

  
 Exh. E-1 

 EXHIBIT F 

Scope of Asset-Level Reporting to Lenders 

 

	1.	 At the request of the Majority Lenders (which request may only be made once every 12 months unless an Event of
Default has occurred and is continuing or any of the Coverage Tests are not satisfied, in which case such request may be made without any limitation), an information package (which may be provided via access to an online data site to be specified to
the Lenders by the Borrower) with respect to each asset that is Pledged Collateral, which will contain information as requested by the Majority Lenders, which may include credit agreements, amendments thereto, financial information (including any
“Management Discussion and Analysis” provided by such Obligor), financial statements and other summary financial data, and other material information as provided by such Obligor with respect to the applicable Related Contracts (the
“Asset Report”). 

  

	2.	 Beginning on the first Quarterly Payment Date, an information package (which may be provided via access to an
online data site to be specified to the Lenders by the Borrower) to be provided on the 15th day of each calendar month (or if such date is not a Business Day, the next succeeding Business Day), which will contain information with respect to all
amendments to any Related Contracts. Such information package will be sorted by sections with credits that require Credit Estimates to be listed first and will also include the Obligor’s name, date of each amendment to any such Related
Contracts and a summary of each such amendment. 

  

	3.	 At any time that an Event of Default has occurred and is continuing or any of the Coverage Tests are not
satisfied, any Lender may request the following information: (i) the Asset Report to be delivered on a weekly basis, (ii) the information package referred to in paragraph (2) above to be delivered on an every two-week basis and (iii) all other material information received by the Borrower from each Obligor and its Affiliates with respect to the applicable Related Contracts. 

  
 Exh. F-1 

 EXHIBIT G 

[Form of Retention Letter] 

OWL ROCK CAPITAL CORPORATION 

[Address] 
 [Date] 

ORCC Financing IV LLC 
 399 Park Avenue, 38th Floor 
 New York, New York 10022 

Attention: Bryan Cole 
 Société
Générale, 
 as Administrative Agent 
 245 Park
Avenue, 4th Floor 
 New York, NY 10167 
 Attention: Julien
Thinat 
 Tel.: (212)-278-7598 

Email: julien.thinat@sgcib.com 
 with a copy to: 

Société Générale 
 480 Washington Blvd

 Jersey City, NJ 07310 
 Tel.:
(201)-839-8460 
 Fax: 201-693-4233 
 Attention: Cheriese Brathwaite 

Email: oper-fin-serv.us@sgss.socgen.com 

[Affected Lender(s)] 
  

	 	Re:	 Retention of Net Economic Interest 

1. This letter is being delivered in connection with the Credit Agreement dated as of August 2, 2019 (the “Credit Agreement”) among ORCC
Financing IV LLC as borrower (the “Borrower”), the financial institutions referred to as “Lenders” in the Credit Agreement, State Street Bank and Trust Company, in its capacities as Collateral Agent, Collateral
Administrator and Custodian and Cortland Capital Market Services LLC, as Document Custodian, and Société Générale, as Administrative Agent. Pursuant to the terms of the Credit Agreement, Owl Rock Capital Corporation (the
“Retention Holder”) will act as retention holder for the purposes of the EU Retention Requirements. All capitalized terms used but not defined herein have the respective meanings given to such terms in the Credit Agreement. 

  
 Exh. G-1 

 2. It is acknowledged that clause (f) of the definition of “Eligibility Criteria” in the
Credit Agreement provides for the following requirements to be satisfied as of the date of each acquisition of a Collateral Loan (including in connection with a substitution pursuant to Section 10.01(a)(vii) of the Credit
Agreement): 
 “(f) if an acquisition or substitution of a Collateral Loan occurs on such date of determination, as of
such date, or, if not, as of the most recent date preceding such date of determination on which an acquisition or substitution of a Collateral Loan occurred, the aggregate outstanding principal amount of all Collateral Loans held by the Borrower
(immediately following any acquisition or substitution of any Collateral Loans on such date of determination) in respect of which the Retention Holder, either itself or through related entities (including the Borrower), directly or indirectly, was
involved or will be involved in negotiating the original agreement which created the relevant Collateral Loan is greater than 50% of the aggregate outstanding principal amount of all Collateral Loans then held by the Borrower.” 

3. The Retention Holder hereby irrevocably and unconditionally undertakes and agrees for the benefit of the Borrower, the Administrative Agent and each
Affected Lender for so long as any Obligation remains outstanding and the EU Retention Requirements so require: 
  

	 	a.	 that it will retain as originator for the purposes of the EU Retention Requirements, on an ongoing basis, a
material net economic interest in the securitisation transaction contemplated by the Loan Documents in the form specified in paragraph (d) of Article 6(3) of the Securitisation Regulation by holding 100% of the Equity Interests in the Borrower
(the “Retained Interest”); 

  

	 	b.	 that at any time the excess of (i) the sum of the Aggregate Principal Balance of all Collateral Loans then
held by the Borrower and the amount then standing to the credit of the Principal Collection Account (including any portion of such amount invested in Eligible Investments) (the “Aggregate Principal Asset Balance”) over (ii) the
aggregate principal amount of all Loans outstanding at such time shall be equal to or greater than 5% of the Aggregate Principal Asset Balance; 

  

	 	c.	 that it shall not, and shall procure that its Affiliates do not, sell, hedge or otherwise mitigate its credit
risk under or associated with the Retained Interest, except to the extent permitted in accordance with the EU Retention Requirements; 

  

	 	d.	 that it established the transaction contemplated by the Credit Agreement and the other Loan Documents;

  

	 	e.	 that, on any date on which the Borrower acquires a Collateral Loan or a Collateral Loan is substituted by the
Borrower, the aggregate outstanding principal amount of all Collateral Loans held by the Borrower (immediately following any acquisition, or substitution of any Collateral Loans on such date of determination) in respect of which the Retention
Holder, either itself or through related entities (including the Borrower), directly or indirectly, was involved or will be involved in negotiating the original agreement which created the relevant Collateral Loan (such Collateral Loans,
“Retention Holder Originated Collateral Loans”) will be greater than 50% of the aggregate outstanding principal amount of all Collateral Loans then held by the Borrower; 

  
 Exh. G-2 

	 	f.	 that it has a business strategy and the capacity to meet payment obligations consistent with a broader business
enterprise and involving material support from capital, assets, fees or other income available to it, relying neither on the Collateral Loans or other exposures securitized by it nor on the Retained Interest or any other interests retained or
proposed to be retained, as well as any corresponding income from such exposures and interests; 

  

	 	g.	 that its responsible decision-makers have the required experience to
enable it to pursue its business strategy, as well as an adequate corporate governance arrangement; 

  

	 	h.	 that each Retention Holder Originated Collateral Loan acquired by or substituted to, the Borrower, whether
prior to or following the Closing Date, has been and will be originated on the basis of sound and well-defined criteria and clearly established processes for approving, amending, renewing and financing those credits and it has effective systems in
place to apply those criteria and processes to ensure that credit-granting is based on a thorough assessment of each obligor’s creditworthiness; 

  

	 	i.	 that it has not and will not select Collateral Loans to be acquired by or substituted to, the Borrower with the
aim of rendering losses on such Collateral Loans, measured over the period during which Obligations are outstanding higher than the losses over the same period on comparable assets held on its balance sheet; 

 

	 	j.	 that it will confirm in writing its continued compliance with the requirements set forth in clauses
(a) through (i) above to the Borrower (who shall furnish such information to the Administrative Agent for distribution to each Affected Lender): 

  

	 	i.	 on a monthly basis pursuant to Section 5.1(l)(iii) of the Credit Agreement
(concurrent with the delivery of each Collateral Report); 

  

	 	ii.	 upon any written request therefor by or on behalf of the Borrower or any Affected Lender delivered as a result
of a material change in (x) the performance of the Loans, (y) the risk characteristics of the transaction, or (z) the Collateral Loans from time to time, pursuant to Section 5.1(l)(iv) of the Credit
Agreement; and 

  

	 	iii.	 promptly upon the Borrower and/or the Retention Holder becoming aware of any material breach of the obligations
included in any Loan Document, pursuant to Section 5.1(l)(v) of the Credit Agreement; 

  

	 	k.	 that it will, promptly following a request by any Affected Lender, provide a refreshed letter in substantially
the form of this letter in connection with a material amendment of any Loan Document, in each case where the Borrower has received a request for the same from an Affected Lender pursuant to Section 5.1(l)(i) of the Credit
Agreement; 

  
 Exh. G-3 

	 	l.	 it shall notify the Borrower, each Affected Lender and the Administrative Agent as soon as reasonably practical
if for any reason: (i) it has ceased to hold the Retained Interest in accordance with paragraph (a) above; or (ii) it has failed in any way to comply with any of the undertakings set out in paragraphs (b), (c), (e), (g) or
(h) above; and 

  

	 	m.	 that it will, promptly following a request by an Affected Lender, provide such additional information as such
Affected Lender may reasonably request in order for such Affected Lender to comply with the EU Retention Requirements which is either in the possession of the Retention Holder or can be obtained at no material cost to the Retention Holder.

 4. The Retention Holder hereby makes the following representations for the benefit of the Borrower, the Administrative Agent and each
Affected Lender: 
  

	 	a.	 the Retention Holder is a corporation, duly established and validly existing under the laws of Maryland, and
has full power and authority to own its assets proposed to be owned by it including the Retained Interest and to transact the business in which it is presently engaged; 

 

	 	b.	 the Retention Holder has full power and authority to execute and deliver this letter and to perform all of its
obligations required hereunder and has taken all necessary action to authorize this letter on the terms and conditions hereof and the execution, delivery and performance of this letter and the performance of all obligations imposed upon it
hereunder; 

  

	 	c.	 no consent of any other person, including, without limitation, investors in and creditors of the Retention
Holder, and no license, permit, approval or authorization of, exemption by, notice or report to, or registration, filing or declaration with, any governmental authority, other than those that have been or shall be obtained in connection with this
letter, is required by the Retention Holder in connection with this letter or the execution, delivery, performance, validity or enforceability of this letter or the obligations imposed upon it hereunder; 

 

	 	d.	 this letter constitutes the legally valid and binding obligations of the Retention Holder enforceable against
the Retention Holder in accordance with its terms, subject, as to enforcement, to (i) the effect of bankruptcy, examination, insolvency or similar laws affecting generally the enforcement of creditors’ rights, as such laws would apply in
the event of any bankruptcy, examination, receivership, insolvency or similar event applicable to the Retention Holder and (ii) general equitable principles (whether enforceability of such principles is considered in a proceeding at law or in
equity); and 

  
 Exh. G-4 

	 	e.	 the execution, delivery and performance of this letter will not violate any provision of any existing law or
regulation binding on the Retention Holder, or any order, judgment, award or decree of any court, arbitrator or governmental authority binding on the Retention Holder, or the organizational documents of, or any securities issued by, the Retention
Holder, the violation of which would reasonably be expected to adversely affect in a material manner its ability to perform its obligations hereunder. 

5. The Retention Holder hereby confirms that it has reviewed the Loan Documents and has participated in the selection of the Collateral Loans, if any,
transferred to the Borrower prior to the Closing Date. 
 6. The Retention Holder hereby agrees and consents to, and acknowledges and agrees to be bound by,
the provisions set forth in Section 12.20 of the Credit Agreement. 
 7. This letter shall not be assignable by the Retention
Holder without the prior written consent of the Borrower, the Administrative Agent and each Affected Lender. This letter may not be amended or any provision hereof waived or modified except by an instrument in writing signed by each of the Retention
Holder, the Borrower, the Administrative Agent and each Affected Lender. This letter may be executed in any number of counterparts, each of which shall be an original and all of which, when taken together, shall constitute one agreement. Delivery of
an executed counterpart of a signature page of this letter by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. This letter supersedes all prior understandings, whether written or
oral, between us with respect to the matters set forth herein. 
 8. THIS LETTER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK. Each of the parties hereto and, by its acceptance hereof, each addressee of this letter hereby irrevocably and unconditionally (a) submits, for itself and its property, to the exclusive jurisdiction of any New York State
court or Federal court of the United States of America sitting in New York City in the Borough of Manhattan, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this letter or the transactions
contemplated hereby or thereby, or for recognition or enforcement of any judgment, and agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State court or, to the extent permitted by law, in
such Federal court, (b) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this letter or
the transactions contemplated hereby or thereby in any New York State court or in any such Federal court and (c) waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any such court. 
 9. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR
COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY RELATED TO OR ARISING OUT OF THIS LETTER. 
 [Remainder of page intentionally left blank]

  
 Exh. G-5 

 
			
	Very Truly Yours,
	
	OWL ROCK CAPITAL CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	Acknowledged and agreed by:
	
	ORCC FINANCING IV LLC, as Borrower
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	SOCIÉTÉ GÉNÉRALE, as Administrative Agent
		
	By:	 	 
		 	Name:
		 	Title:

  
 Exh. G-6 

 EXHIBIT H 

[FORM OF RELATED CONTRACT DOCUMENT REQUEST] 

[Delivery Date] 
 Cortland Capital Market
Services LLC, as Document Custodian 
 225 W. Washington St., 9th Floor 

Chicago, IL 60606 
 Attention: Doc Custody and Legal Department

 Facsimile No.: 312-378-0751 

Email: DocCustody@alterdomus.com; legal@alterdomus.com 
 State
Street Bank and Trust Company, as Collateral Agent 
 1776 Heritage Drive 

North Quincy, Massachusetts 02171 
 Mail Stop: JAB0130 

Attention: Structured Trust & Analytics 
 Facsimile No.:
(617) 937-4358 
 Email: brian.peterson@statestreet.com 

 

	 	Re:	 Credit Agreement, dated as of August 2, 2019, among ORCC Financing IV LLC, as the Borrower, the Lenders
party thereto from time to time, Société Générale, as Administrative Agent, State Street Bank and Trust Company, as Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Market Services LLC,
as Document Custodian (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) 

Ladies and Gentlemen: 
 Pursuant to
Article XV of the Credit Agreement and in connection with the custody of the Related Contracts held by Cortland Capital Market Services LLC as the Document Custodian, for the benefit of the Secured Parties, under the
Credit Agreement, we request the release of the Related Contracts (or such documents as specified below) for the Collateral Loans described below or in the attached Excel spreadsheet, for the reason indicated below.5 In connection with such request, the Services Provider hereby confirms that no Event of Default has occurred and is continuing [an Event of Default has occurred and is continuing and the
Administrative Agent’s consent to the release of the documents is specified below], [all amounts received in connection with any liquidation of the Collateral Loans described below or in the attached Excel spreadsheet have been credited to the
Collection Account] and the conditions to release have been met as specified in Section [____] of the Credit Agreement. All capitalized terms used but not defined herein shall have the meaning provided in the Credit Agreement. 

 
  

	5 	 Please specify the Related Contracts to be returned and recite reason for such return. 

  
 Exh. H-1 

 Obligor’s Name, Address & Zip Code: 

Collateral Loan Number: 
 Collateral Loan File: 

Reason for Requested Documents (check one) 
  

					
	____ 1.	  	Pledged Collateral Paid in Full.
		
	____ 2.	  	Pledged Asset Being Sold in Whole (and Not in Part).
		
	____ 3.	  	Other (explain)
			
		  		  	_____________________________________________
			
		  		  	_____________________________________________
			
		  		  	_____________________________________________

 If box 1 or 2 above is checked, and if all or part of the Related Contracts were previously released
to us, please release to us the Related Contracts, requested in our previous request and receipt on file with you, as well as any additional documents in your possession relating to the specified Collateral Loan. 

Delivery Instructions – Address Needed: 
  

					
	          	  		  	_____________________________________________
			
		  		  	_____________________________________________
			
		  		  	_____________________________________________
			
		  		  	_____________________________________________

 [Remainder intentionally left blank] 

  
 Exh. H-2 

 IN WITNESS WHEREOF, this Related Contract Document Request has been executed as of the date
first written above: 
  

			
	OWL ROCK CAPITAL CORPORATION, as the Services Provider
		
	By	 	 
		 	Name:
		 	Title:
		 	Date:

 [Each of the Administrative Agent and Borrower hereby acknowledge that it has read this Related Contract Document
Request and consents to the terms hereof 
  

			
	ADMINISTRATIVE AGENT:
	
	SOCIÉTÉ GÉNÉRALE

			
		
	By:	 	 

			
	Name:
	Title:
	Date:

  

			
	BORROWER:
	
	ORCC FINANCING IV LLC

			
		
	By:	 	 

			
	Name:
	Title:
	Date:]6

  
  

	6 	 To be signed if reason for return of Related Contract is that it was delivered to the Document Custodian in
error or released from Lien of the Collateral Agent 

  
 Exh. H-3 

 [The Administrative Agent hereby acknowledges that it has read this Related Contract Document Request and
consents to the terms hereof.
  

			
	ADMINISTRATIVE AGENT:
	
	SOCIÉTÉ GÉNÉRALE

			
		
	By:	 	 

			
	Name:
	Title:
	Date:]7

  
  

	7 	 To be signed if request delivered and an Event of Default has occurred and is continuing.

  
 Exh. H-4 

 EXHIBIT I-1 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement dated as of August 2, 2019 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among ORCC Financing IV LLC, as the Borrower, the Lender party thereto from time to time, Société Générale, as Administrative Agent, State Street Bank and Trust Company, as
Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Market Services LLC, as Document Custodian. 
 Pursuant
to the provisions of Section 11.4 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect
of which it is providing this certificate, (ii) it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “ten percent shareholder” of the Borrower within the meaning of
Section 871(h)(3)(B) of the Code and (iv) it is not a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Agent and the Borrower with a certificate of its
non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E. By
executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, the undersigned shall promptly so inform the Borrower and the Agent, and (2) the undersigned shall have at all times
furnished the Borrower and the Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	 
		 	Name:
		 	Title:

 Date: ________ __, 20[    ] 

  
 Exh. I-1-1 

 EXHIBIT I-2 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement dated as of August 2, 2019 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among ORCC Financing IV LLC, as the Borrower, the Lenders party thereto from time to time, Société Générale, as Administrative Agent, State Street Bank and Trust Company, as
Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Market Services LLC, as Document Custodian. 
 Pursuant
to the provisions of Section 11.4 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate,
(ii) it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “ten percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and
(iv) it is not a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person
status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if
the information provided in this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	 
		 	Name:
		 	Title:

 Date: ________ __, 20[    ] 

  
 Exh. I-2-1 

 EXHIBIT I-3 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement dated as of August 2, 2019 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among ORCC Financing IV LLC, as the Borrower, the Lenders party thereto from time to time, Société Générale, as Administrative Agent, State Street Bank and Trust Company, as
Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Market Services LLC, as Document Custodian. 
 Pursuant
to the provisions of Section 11.4 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its
direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its direct or indirect partners/members is a “bank” extending credit
pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “ten percent shareholder”
of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a “controlled foreign corporation” related to the Borrower as described in
Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with IRS
Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS
Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY
accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners
that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, the undersigned shall promptly so inform such Lender and (2) the
undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years
preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement. 
  

			
	 [NAME OF PARTICIPANT]

		
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	 Date:             
    , 20[    ]

  
 Exh. I-3-1 

 EXHIBIT I-4 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Credit Agreement dated as of August 2, 2019 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among ORCC Financing IV LLC, as the Borrower, the Lenders party thereto from time to time, Société Générale, as Administrative Agent, State Street Bank and Trust Company, as
Collateral Agent, Collateral Administrator and Custodian and Cortland Capital Market Services LLC, as Document Custodian. 
 Pursuant
to the provisions of Section 11.4 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is
providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit
Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within
the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “ten percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of
its direct or indirect partners/members is a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Agent and the Borrower with IRS Form W-8IMY accompanied by one
of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the
undersigned agrees that (1) if the information provided in this certificate changes, the undersigned shall promptly so inform the Borrower and the Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Agent
with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	 [NAME OF LENDER]

		
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	 Date:             
    , 20[    ]

  
 Exh. I-4-1 

 EXHIBIT J 

DOCUMENT CHECKLIST 
  

	
	 Collateral Loan: ______________

	
	 Obligor Name:_____________________

	
	 Date:_______________________

  

			
	Description of Related Contract	  	Original or Copy

 The undersigned certifies that the above Related Contracts have been delivered to Cortland Capital Market Services LLC,
as Document Custodian , on the date referenced above. 
  

			
	 [ORCC Financing IV LLC] [Owl Rock Capital Corporation]

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 Exh. J-1 

 EXHIBIT K 

AUTHORIZED REPRESENTATIVES OF SERVICES PROVIDER 
  

							
	Name	 		 	Specimen Signature
			
		 		 	 
			
		 		 	 
			
		 		 	 

  
 Exh. K-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]