Document:

AMENDMENT NO. 2

 

TO THE 

 

CONTRACT FOR LAUNCH SERVICES

 

NO. IS-10-008

 

BETWEEN

 

IRIDIUM SATELLITE LLC

 

AND

 

SPACE EXPLORATION TECHNOLOGIES CORP.

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	 

 

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

PREAMBLE

 

This Amendment No. 2 (the “Amendment”)
to the Contract for Launch Services No. IS-10-008, signed on March 19, 2010 between Iridium Satellite LLC and Space Exploration
Technologies Corp. (the “Contract”) is entered into on this 19th day of July, 2012, by and between
Iridium Satellite LLC, a limited liability company organized and existing under the laws of Delaware, having its office at 1750
Tysons Boulevard, Suite 1400, McLean, VA 22102 (“Customer”) and Space Exploration Technologies Corp., a Delaware
corporation, having its office at 1 Rocket Road, Hawthorne, CA 90250 (“Contractor”).

 

RECITALS

 

WHEREAS, Customer and Contractor
have engaged in discussions relating to changes each would like to incorporate in the Contract reflecting a reduction in the number
of dedicated Launches, increase in the number of Satellites per Launch, and adjustments to the Contract Price and Milestone Payment
Schedules for Non-Recurring and Recurring Payment Milestones; and

 

WHEREAS, the Parties now desire
to amend Articles 1, 2, 3, 4, 5, 6, 11, 16, Exhibit B, Exhibit C, Exhibit D and Exhibit E of the Contract.

 

NOW, THEREFORE, in consideration
of the foregoing, the agreements contained herein, the payments to be made by Customer to Contractor under the Contract and other
good and valid consideration, the receipt and adequacy of which are hereby expressly acknowledged, and intending to be legally
bound, the Parties agree as follows:

 

Article 1: Capitalized terms
used but not defined in this Amendment shall have the meanings ascribed thereto in the Contract.

 

Article
2: The words “Falcon 9 [***]” used in the definition of “Falcon
9 [***]”, “Launch Vehicle”, Sections 1.1, 3.4, throughout Section 11, and
in Exhibit C are hereby deleted and replaced in their entirety with “F9 [***]”.

 

Article 3: Section 2.1 of
the Contract is hereby modified by (i) deleting the words “eight (8)” immediately preceding the text “dedicated
Launches” in the first line and (ii) inserting the words “seven (7)” in place thereof.

 

Article
4: As consideration for Customer waiving the application of interest at the Contractor Interest Rate to the termination
of the first Firm Launch in accordance with Section 17.2 of the Contract, Section 2.1.2 of the Contract is hereby modified by (i)
deleting the words “[***]” immediately following the text “no later than”
in the second sentence and (ii) inserting the words “[***]” in place thereof.

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	2

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

Article 5: The following
Section 4.9 is added.

 

“4.9           Refund.
Contractor shall pay to Customer the amount of [***] US Dollars (US$[***])
as an adjustment to the Base Contract Price (the “Refund”). Contractor shall pay the Refund to Customer in [***]
installments of [***] US Dollars (US$[***]). Each such
installment will be deducted from [***] due by Customer to Contractor in the [***].”

 

Article 6: Section 5.1 of
the Contract is hereby modified by (i) deleting the words “eight (8)” immediately preceding the text “Firm Launches”
in the first sentence and (ii) inserting the words “seven (7)” in place thereof.

 

Article 7: Section 6.1.3(L)
of the Contract is hereby modified by (i) deleting the words “eight (8)” immediately preceding the text “, with
a sum” in the first sentence and (ii) inserting the words “seven (7)” in place thereof.

 

Article 8: Section 6.2.3(E)
of the Contract is hereby modified by (i) deleting the words “eight (8)” immediately preceding the text “, with
a sum” in the first sentence and (ii) inserting the words “seven (7)” in place thereof.

 

Article 9: With the termination
of the first Firm Launch by this Amendment, Sections 11.1.1(A) and 11.1.1(B) no longer apply.

 

Article
10: Section 11.1.1(C) is hereby modified by (i) deleting the text “No later than [***]
...” and replacing them with the text “No later than [***] ...”.

 

Article 11: Section 11.1.1(C)
(iv) is hereby deleted and replaced in its entirety with the following:

 

“[***].”

 

Article 12: All references
made to “nine (9) Satellites” throughout Section 11.2.3 of the Contract are hereby deleted and replaced in their entirety
by the words “ten (10) Satellites”.

 

Article 13: Section 16.1
of the Contract is hereby modified by (i) deleting the words “nine (9)” immediately preceding the text “or more
Satellites” in the first sentence and (ii) inserting the words “ten (10)” in place thereof.

 

Article 14: All references
made to “nine (9) Satellites” in Section 16.1.4 are hereby deleted and replaced in their entirety by the words “ten
(10) Satellites”.

 

Article 15: All references
made to “nine (9) Satellites” in Section 16.1.10 of the Contract are hereby deleted and replaced in their entirety
by the words ten (10) Satellites.

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	3

 

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

Article 16: Section 16.2.4
of the Contract is hereby modified by (i) deleting the words “nine (9)” immediately preceding the text “as instructed
by Customer” and (ii) inserting the words “ten (10)” in place thereof.

 

Article 17: All references
made to “nine (9) Satellites” in Section 16.2.10 of the Contract are hereby deleted and replaced in their entirety
by the words ten (10) Satellites:

 

Article 18: Exhibit B of
the Contract is hereby deleted and replaced in its entirety by the Exhibit B attached hereto.

 

Article 19: Exhibit C of
the Contract is hereby deleted and replaced in its entirety by the Exhibit C attached hereto.

 

Article 20: Exhibit D of
the Contract is hereby deleted and replaced in its entirety by the Exhibit D attached hereto.

 

Article 21: Exhibit E of
the Contract is hereby deleted and replaced in its entirety by the Exhibit E attached hereto.

 

Article 22: The effective
date of this Amendment shall be the date when all of the following conditions have been fulfilled, as confirmed in writing promptly
upon occurrence:

 

(A)         Signature
of the Amendment by both Parties; and

 

(B)         Receipt
by the Customer of waiver or amendment of the provisions of its COFACE Facility Agreement, dated as of October 4, 2010 (the “Credit
Facility”), such that Customer has authority under the Credit Facility to enter into this Amendment.

 

Article 23: This Amendment
may be executed and delivered (including via facsimile or other electronic means) in one or more counterparts, each of which shall
be deemed to be an original, but all of which shall constitute one and the same agreement.

 

Article 24: All other provisions
of the Contract not expressly referred to in this Amendment remain in full force and effect.

 

IN WITNESS WHEREOF, the Parties have executed this Amendment
by their duly authorized officers as of the date set forth in the Preamble.

 

	For Customer	For Contractor

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	4

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

	IRIDIUM SATELLITE LLC	 	
        SPACE EXPLORATION

        TECHNOLOGIES CORP.

	 	 	 
	Signature:  	/s/ S. Scott Smith	 	Signature:  	/s/ Gwynne Shotwell
	 	 	 	 	 
	Name:	S. Scott Smith	 	Name:	Gwynne Shotwell
	 	 	 	 	 
	Title:	Executive Vice President, Satellite Development & Operations	 	Title:	President

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	5

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

EXHIBIT B

LAUNCH SCHEDULE

 

	Firm Launch Mission	 	Start Date of Launch Slot	 	Launch Date
	 	 	 	 	 
	[***]	 	[***]	 	[***]

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	6

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

EXHIBIT C

MILESTONE PAYMENT SCHEDULE

 

Table C.1
identifies the [***] Milestone Payments. 

 

Table C.1 [***]
Payment Milestones

	Milestone	 	
        Milestone

        Due Date
	 	
        Milestone
        

        Payment (US$)

	[***]	 	[***]	 	[***]

 

EXHIBIT C

MILESTONE PAYMENT SCHEDULE

 

MILESTONE PAYMENT SCHEDULE (CONTINUED)

 

Table C.2
identifies the [***] Milestone Payments [***].

 

Table C.2 [***]
Milestones

	No.	 	
        Milestone

        Completion Nominal

        Dates (Months)
	 	Milestone	 	
        Milestone Payments

        (US$)

	[***]	 	[***]	 	[***]	 	[***]

 

Note (1): [***]

Note (2): [***]

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	7

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

EXHIBIT D

OPTIONAL SERVICES

 

	[***] Options	 	[***] 
Exercise 
Date 
[***]	 	 	[***] Exercise 
Date [***]	 	 	Non- 
Recurring 
Price	 	 	Price Per
 Launch
 Service 
	 	 	Per 
Occurrence 
Price	 
	[***]	 	 	L-[***]; L-[***]	 	 	 	L-[***]; L-[***]	 	 	 	[***]	 	 	 	[***]	 	 	 	[***]	 
	[***]	 	 	L-[***]	 	 	 	L-[***]	 	 	 	[***]	 	 	 	[***]	 	 	 	[***]	 
	[***]	 	 	L-[***]	 	 	 	L-[***]	 	 	 	[***]	 	 	 	[***]	 	 	 	[***]	 
	[***]	 	 	L-[***]	 	 	 	L-[***]	 	 	 	[***]	 	 	 	[***]	 	 	 	[***]	 
	[***]	 	 	L-[***]	 	 	 	L-[***]	 	 	 	[***]	 	 	 	[***]	 	 	 	[***]	 

 

General Conditions Applicable to the Optional
Services described above:

 

		1.	Each Optional Service shall
be elected by Customer by [***], in accordance with Article [***],
on or prior to the applicable [***].

 

		2.	The [***]:
(a) shall be [***] on a [***] basis in the event a [***]
in accordance with Article [***]; and (b) may be [***]
by Customer and Contractor.

 

		3.	The [***]
as referred to in [***] of each Optional Service elected by Customer shall be [***]
by Contractor as follows: (a) [***] on the date following [***]
when Customer [***] to Contractor; and (b) [***]
upon [***]. Any such [***] by Contractor [***]
by Customer shall be [***] by Customer within [***]
Days.

 

		4.	The [***]
as referred to in [***] of each Optional Service elected by Customer shall be [***]
by Contractor as follows: (a) [***] on the date following [***]
when Customer [***] to Contractor; (b) [***]
upon [***] and (c) [***] upon [***].
Any such [***] by Contractor [***] by Customer shall
be [***] by Customer within [***] Days.

 

		5.	For the sake of clarity,
Customer may [***] on a [***] basis, subject to the
terms and conditions of this Agreement.

 

		6.	Performance of [***]
shall be subject to the requirements set forth in Section [***].

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	8

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

		7.	Prices for each Optional
Service [***] in the event such Optional Service(s) are [***].
In each case, the price of the Optional Service(s) shall be [***]. If [***],
such [***] shall be [***]. Otherwise, [***],
shall be [***]:

 

[***]
Price = $[***] = $[***]

 

[***]
= $[***] = $[***]

 

Therefore,
[***], is $[***].

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	9

 

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

EXHIBIT E

ADDITIONAL LAUNCH PRICE

 

A.           Additional
Launch Option [***]

 

If Customer exercises
an Additional Launch [***]. If the resulting amount [***],
such [***] shall be [***].

 

B.           Additional
Launch Option Exercised [***]

 

For a Launch Date [***],
the price of the Additional Launch shall be calculated using the following formula:

 

[***]

 

If the resulting amount
is [***], otherwise, the amount set forth in [***] shall
be [***].

 

C.           Additional
Launch Milestone Payments

 

Milestone Payments for
such Additional Launch shall be calculated based upon [***]. For any Additional Launch exercised
by Customer [***] prior to [***] is exercised pursuant
to Section 2.1.2, will be [***].

 

D.           Application
of Additional Launch Reservation Fee

 

The [***]
US Dollars (US$[***]) Additional Launch reservation fee, to the extent paid by Customer pursuant
to Section 2.1.2, shall be added to the Additional Launch price as determined in Section A or B above, to determine the final Launch
Service price for the applicable Additional Launch.

 

Table E.1. [***]

 

	 	 	 	[***] Additional Launch Price, [***]	 
	[***]	 	 	[***]	 	 	[***]	 	 	[***]	 	 	[***]	 	 	[***]	 
	$	[***]	 	 	$	[***]	 	 	$	[***]	 	 	$	[***]	 	 	$	[***]	 	 	$	[***]	 

 

Table E.2. Payment Profile

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	10

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    	 

    

 

	No	 	 	Milestone [***]

 Dates	 	 	Milestone	 	Milestone Payment

 (%)	 
	 	[***]	 	 	 	[***]	 	 	[***]	 	 	[***]	%
	 	 	 	 	 	 	 	 	Additional Launch price Sub Total	 	 	[***]	%
	 	 	 	 	 	 	 	 	Reservation Fee	 	$	[***]	 
	 	 	 	 	 	 	 	 	Final Launch Service Price	 	 	Sub Total plus $[***]	 

 

E.           Illustrative
Example Cases

 

For illustrative
purposes only the following examples are provided: [***].

 

Example 1: [***]

 

Price = $[***]

 

[***].
The payment profile in this example would be the following:

 

	No	 	 	Milestone [***]

 Dates	 	 	 	Milestone	 	 	Milestone

 Payment (%)	 	 	Milestone Payment

 (US$)	 
	 	[***]	 	 	 	[***]	 	 	 	[***]	 	 	 	[***]	 	 	$	[***]	 

 

Example 2: [***]

 

Price = $[***]

 

[***]

 

[***].
The payment profile in this example would be the following:

 

	No	 	 	Milestone [***]

 Dates	 	 	 	Milestone	 	 	Milestone

 Payment (%)	 	 	Milestone

 Payment (US$)	 
	 	[***]	 	 	 	[***]	 	 	 	[***]	 	 	 	[***]	 	 	$	[***]	 

 

	Execution Copy	Iridium & Space Exploration Technologies Corp. Proprietary Information	11

  

    	CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE
COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY
REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT
HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.FOURTH AMENDMENT TO

LOAN AND SERVICING AGREEMENT

(Golub Capital BDC Funding LLC)

 

THIS FOURTH AMENDMENT
TO LOAN AND SERVICING AGREEMENT, dated as of October 21, 2012 (this “Amendment”), is entered into by and among
GOLUB CAPITAL BDC Funding LLC, as the Borrower (the “Borrower”),
GOLUB CAPITAL BDC, INC., as the Transferor and the Servicer, the Institutional Lender identified on the signature pages hereto,
WELLS FARGO BANK, N.A., as the Collateral Agent, the Account Bank and the Collateral Custodian, and WELLS FARGO SECURITIES, LLC,
as the Administrative Agent (in such capacity, the “Administrative Agent”).

 

RECITALS

 

WHEREAS, the above-named
parties have entered into that certain Loan and Servicing Agreement, dated as of July 21, 2011 (as amended, supplemented or otherwise
modified from time to time, the “Agreement”), by and among the Borrower, the Transferor, the Servicer, each
of the Conduit Lenders and Institutional Lenders from time to time party thereto, each of the Lender Agents from time to time party
thereto, and the Collateral Agent, the Account Bank and the Collateral Custodian;

 

WHEREAS, pursuant to
and in accordance with Section 11.01 of the Agreement, the parties hereto desire to amend the Agreement in certain respects as
provided herein;

 

NOW, THEREFORE, based
upon the above Recitals, the mutual premises and agreements contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound, hereby agree as follows:

 

SECTION
1.    Definitions.

 

Each capitalized term
used but not defined herein has the meaning ascribed thereto in the Agreement.

 

SECTION
2.    Amendment.

 

2.1The Reinvestment
Period under the Agreement is hereby extended to October 21, 2013 by replacing the date “October 21, 2012” where it
appears in the definition of “Reinvestment Period” in Section 1.01 of the Agreement with the date “October
21, 2013”.

 

2.2The Stated Maturity
Date under the Agreement is hereby extended to October 20, 2017 by replacing the date “October 21, 2015” where it appears
in the definition of “Stated Maturity Date” in Section 1.01 of the Agreement with the date “October
20, 2017”.

 

2.3Clause (i) of
the definition of “Value Adjustment Event” in Section 1.01 of the Agreement shall be amended and restated in
its entirety as follows:

 

    	1

    	 

    

 

 

“(i)(x)
The Interest Coverage Ratio for any Relevant Test Period with respect to such Loan Asset is (i) less than 1.50 and (ii) less than
or equal to 85% of the Interest Coverage Ratio with respect to such Loan Asset as calculated on the applicable Cut-Off Date or
(y) the Senior Leverage Ratio for any Relevant Test Period of the related Obligor with respect to such Loan Asset (I) is more than
0.50x higher than such Senior Leverage Ratio as calculated on the applicable Cut-Off Date and (II) is more than 3.50x;”

 

2.4Section 2.09
of the Agreement is hereby amended and restated in its entirety as follows:

 

“Section 2.09Non-Usage
Fee.

 

The Borrower shall
pay, in accordance with Section 2.04, pro rata to each Lender (either directly or through the applicable Lender Agent),
a non-usage fee (the “Non-Usage Fee”) payable in arrears for each Remittance Period, equal to the sum of the
products for each day during such Remittance Period of (i) one divided by 360, (ii) the applicable Non-Usage Fee Rate (as defined
below), and (iii) the aggregate Commitments minus the Advances Outstanding on such day (such amount, the “Unused
Portion”). The Non-Usage Fee Rate (the “Non-Usage Fee Rate”) shall be equal to:

 

(a)for
the period from (and including) the Closing Date through (and excluding) the six month anniversary thereof, 0.50%;

 

(b)thereafter,
except as provided in clauses (c), (d) and (e) below, (i) 0.50% on any Unused Portion up to or equal to the first $30,000,000 of
such Unused Portion and (ii) 2.00% on any Unused Portion in excess of the first $30,000,000;

 

(c)for
the period from (and including) February 14, 2012 through (and excluding) April 14, 2012, 0.50%;

 

(d)for
the period from (and including) May 15, 2012 through (and excluding) July 15, 2012, 0.50%; and

 

(e)for
the period from (and including) October 21, 2012 through and including December 21, 2012, 0.50%.”

 

2.5Section 2.19
of the Agreement shall be amended and restated in its entirety as follows:

 

“Extension
of Stated Maturity Date and Reinvestment Period. The Borrower may, at any time after the first anniversary of the Closing Date
(and, thereafter, at any time after the first anniversary of the most recent date of extension), make a request to the Lenders
to extend both the date set forth in clause (i) of the definition of “Reinvestment Period” and the date set
forth in the definition of “Stated Maturity Date”. Such date may be extended by mutual agreement among the Administrative
Agent, each of the Lenders, the Borrower and the Servicer. The Borrower confirms that any of the Lenders or the Administrative
Agent, in their sole and absolute discretion, without regard to the value or performance of the Loan Assets or any other factor,
may elect not to extend such date.”

 

    	2

    	 

    

 

 

2.6Item 2 on Schedule
III to the Agreement shall be amended and restated in its entirety as follows:

 

“2.The
Obligor with respect to each such Loan Asset is organized under the laws of the United States or any state thereof or Canada (provided
that after giving effect to the acquisition of such Loan Asset by the Borrower, the aggregate Adjusted Borrowing Value of all Eligible
Loan Assets the Obligors of which are domiciled in Canada shall not exceed the greater of 15% of the aggregate Adjusted Borrowing
Value of all Eligible Loans or $10,000,000 (and to the extent such threshold is exceeded, such excess shall not be included in
the Adjusted Borrowing Value of the applicable Eligible Loan Assets for purposes of the calculation of Borrowing Base))”

 

SECTION
3.    Agreement in Full Force and
Effect as Amended.

 

Except as specifically
amended hereby, all provisions of the Agreement shall remain in full force and effect. This Amendment shall not be deemed to expressly
or impliedly waive, amend or supplement any provision of the Agreement other than as expressly set forth herein and shall not constitute
a novation of the Agreement.

 

SECTION
4.    Representations and Warranties.

 

The Borrower hereby
represents and warrants as of the date of this Amendment as follows:

 

(a)               
this Amendment has been duly executed and delivered by it;

 

(b)              
this Amendment constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally or by general principles of equity; and

 

(c)               
there is no Event of Default, Unmatured Event of Default, or Servicer Termination Event that is continuing or would result
from entering into this Amendment.

 

SECTION
5.    Conditions to Effectiveness.

 

The effectiveness of
this Amendment is subject to receipt by the Administrative Agent of

 

(a)               
executed counterparts (or other evidence of execution, including facsimile signatures, satisfactory to the Administrative
Agent) of this Amendment; and

 

(b)              
all fees due and payable pursuant to the Fee Letter Agreement, dated as of October 21, 2012, between the Borrower, the Transferor
and the Administrative Agent.

 

    	3

    	 

    

 

 

SECTION
6.    Miscellaneous.

 

(a)               
This Amendment may be executed in any number of counterparts (including by facsimile), and by the different parties hereto
on the same or separate counterparts, each of which shall be deemed to be an original instrument but all of which together shall
constitute one and the same agreement.

 

(b)              
The descriptive headings of the various sections of this Amendment are inserted for convenience of reference only and shall
not be deemed to affect the meaning or construction of any of the provisions hereof.

 

(c)               
This Amendment may not be amended or otherwise modified except as provided in the Agreement.

 

(d)              
The failure or unenforceability of any provision hereof shall not affect the other provisions of this Amendment.

 

(e)               
Whenever the context and construction so require, all words used in the singular number herein shall be deemed to have been
used in the plural, and vice versa, and the masculine gender shall include the feminine and neuter and the neuter shall include
the masculine and feminine.

 

(f)               
This Amendment represents the final agreement between the parties only with respect to the subject matter expressly covered
hereby and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements between the parties. There
are no unwritten oral agreements between the parties.

 

(g)              
THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

[Remainder of Page Intentionally Left
Blank]

 

    	4

    	 

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date
first written above.

 

	BORROWER:	GOLUB CAPITAL BDC FUNDING LLC
	 	 
	 	By:	/s/ David B. Golub
	 	Name:	David B. Golub
	 	Title:	Vice Chairman and President
	 	 
	THE TRANSFEROR AND SERVICER:	
        GOLUB CAPITAL BDC, INC. 

	 	 
	 	By:	/s/ David B. Golub
	 	Name:	David B. Golub
	 	Title:	Chief Executive Officer
	 	 
	THE COLLATERAL AGENT, ACCOUNT BANK AND COLLATERAL CUSTODIAN:	
        WELLS FARGO BANK, N.A.

         

	 	 
	 	By:	/s/ Michael Roth
	 	Name:	Michael Roth
	 	Title:	Vice President

 

 

[Signatures Continue on the Following
Page]

 

	 	S-1	Fourth Amendment to LSA

 

    	 

    	 

    
 

	ADMINISTRATIVE AGENT:	WELLS FARGO SECURITIES, LLC
	 	By:	/s/
    Mike Romanzo
	 	Name:	Mike Romanzo
	 	Title:	Director
	 	
 
	THE INSTITUTIONAL LENDER:	WELLS FARGO BANK, N.A.
	 	By:	/s/ Raj Shah
		Name:	Raj Shah
	 	Title:	Managing Director

 

	 	S-2	Fourth Amendment to LSA

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}]]