Document:

Exhibit 10.5

 

TRADEMARK LICENSE
AGREEMENT

 

This TRADEMARK LICENSE AGREEMENT
(this “Agreement”) is made and effective as of the date hereof, by and between Golub Capital LLC, a Delaware limited
liability company (the “Licensor”), and Golub Capital Direct Lending Corporation, a corporation organized under the
laws of the State of Maryland (the “Licensee”) (each a “party,” and collectively, the “parties”).

 

RECITALS

 

WHEREAS, Licensee is a newly
organized, externally managed, closed-end, non-diversified management investment company that has filed an election to be regulated as
a business development company under the Investment Company Act of 1940, as amended (the “1940 Act”);

 

WHEREAS, Licensor, together
with its affiliates, provides investment management, investment consultation and investment advisory services;

 

WHEREAS, Licensor and its
affiliates, including GC Advisors LLC, a Delaware limited liability company (“Adviser”), have used the mark “Golub
Capital” (the “Licensed Mark”) in the United States of America and certain other jurisdictions (collectively,
the “Territory”) in connection with the investment management, investment consultation and investment advisory services
they provide;

 

WHEREAS, the Licensee is entering
into an investment advisory and management agreement with Adviser (the “Advisory Agreement”), wherein Licensee shall
engage Adviser to act as the investment adviser to the Licensee;

 

WHEREAS, it is intended that
Adviser be a third party beneficiary of this Agreement; and

 

WHEREAS, Licensee desires
to use the Licensed Mark as part of its corporate name and in connection with the operation of its business, and Licensor is willing to
grant Licensee a license to use the Licensed Mark, subject to the terms and conditions of this Agreement.

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows:

 

ARTICLE
1.

LICENSE GRANT

 

1.1.            License.
Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee, and Licensee hereby accepts from
Licensor, a personal, non-exclusive, royalty-free right and license to use the Licensed Mark solely and exclusively as a component
of Licensee’s own corporate name and in connection with marketing the investment management, investment consultation and
investment advisory services that Adviser may provide to Licensee. During the term of this Agreement, Licensee shall use the
Licensed Mark only to the extent permitted under this License, and except as provided above, neither Licensee nor any affiliate,
owner, director, officer, employee or agent thereof shall otherwise use the Licensed Mark or any derivative thereof in the Territory
without the prior express written consent of Licensor in its sole and absolute discretion and shall not use the Licensed Mark for
any purpose outside the Territory. All rights not expressly granted to Licensee hereunder shall remain the exclusive property of
Licensor.

 

1.2.           
Nothing in this Agreement shall preclude Licensor or any of its successors or assigns from using or permitting other entities to
use the Licensed Mark, whether or not such entity directly or indirectly competes or conflicts with Licensee’s business in any manner.

 

     

     

    

 

ARTICLE
2.

COMPLIANCE

 

2.1.           
Quality Control. In order to preserve the inherent value of the Licensed Mark, Licensee agrees to use reasonable efforts
to ensure that it maintains the quality of the Licensee’s business and the operation thereof equal to the standards prevailing in
the operation of Licensee’s business as of the date of this Agreement. The Licensee further agrees to use the Licensed Mark in accordance
with such quality standards as may be reasonably established by Licensor and communicated to the Licensee from time to time in writing,
or as may be agreed to by Licensor and the Licensee from time to time in writing.

 

2.2.           
Compliance with Laws. Licensee agrees that the business operated by it in connection with the Licensed Mark shall comply
with all laws, rules, regulations and requirements of any governmental body in the Territory or elsewhere as may be applicable to the
operation, marketing, and promotion of the business and shall notify Licensor of any action that must be taken by Licensee to comply with
such law, rules, regulations or requirements.

 

2.3.           
Notification of Infringement. Each party shall immediately notify the other party and provide to the other party all relevant
background facts upon becoming aware of (a) any registrations of, or applications for registration of, marks in the Territory that do
or may conflict with the Licensor’s rights in the Licensed Mark or the rights granted to the Licensee under this Agreement, (b)
any infringements or misuse of the Licensed Mark in the Territory by any third party (“Third Party Infringement”),
or (c) any claim that Licensee’s use of the Licensed Mark infringes the intellectual property rights of any third party in the Territory
(“Third Party Claim”). Licensor shall have the exclusive right, but not the obligation, to prosecute, defend and/or
settle in its sole discretion, all actions, proceedings and claims involving any Third Party Infringement or Third Party Claim, and to
take any other action that it deems necessary or proper for the protection and preservation of its rights in the Licensed Mark. Licensee
shall cooperate with Licensor in the prosecution, defense or settlement of such actions, proceedings or claims.

 

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ARTICLE
3.

REPRESENTATIONS
AND WARRANTIES

 

3.1.           
Licensee accepts this license on an “as is” basis. Licensee acknowledges that Licensor makes no explicit or implicit
representation or warranty as to the registrability, validity, enforceability, ownership of the Licensed Mark, or as to Licensee’s
ability to use the Licensed Mark without infringing or otherwise violating the rights of others, and Licensor has no obligation to indemnify
Licensee with respect to any claims arising from Licensee’s use of the Licensed Mark, including without limitation any Third Party
Claim.

 

3.2.           
Mutual Representations. Each party hereby represents and warrants to the other party as follows:

 

(a)              
Due Authorization. Such party is a limited liability company duly formed or a corporation duly incorporated, as applicable,
and is in good standing as of the date hereof, and the execution, delivery and performance of this Agreement by such party have been duly
authorized by all necessary action on the part of such party.

 

(b)              
Due Execution. This Agreement has been duly executed and delivered by such party and, upon due authorization, execution
and delivery of this Agreement by the other party, constitutes a legal, valid and binding obligation of such party, enforceable against
such party in accordance with its terms.

 

(c)              
No Conflict. Such party’s execution, delivery and performance of this Agreement do not: (i) violate, conflict with
or result in the breach of any provision of the operating agreement, charter or bylaws (or similar organizational documents) of such party;
(ii) conflict with or violate any governmental order applicable to such party or any of its assets, properties or businesses; or (iii)
conflict with, result in any breach of, constitute a default (or event which with the giving of notice or lapse of time, or both, would
become a default) under, require any consent under, or give to others any rights of termination, amendment, acceleration, suspension,
revocation or cancellation of any contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement
to which it is a party.

 

ARTICLE
4.

TERM AND TERMINATION

 

4.1.            Term.
This Agreement shall expire if the Adviser or one of its affiliates ceases to serve as investment adviser to the Licensee. This
Agreement shall be terminable by Licensor at any time and in its sole discretion in the event that Licensor or Licensee receives
notice of any Third Party Claim arising out of Licensee’s use of the Licensed Mark; by Licensor or Licensee upon sixty (60)
days’ written notice to the other party; or by Licensee at any time in the event Licensee assigns or attempts to assign or
sublicense this Agreement or any of Licensee’s rights or duties hereunder without the prior written consent of Licensor.

 

4.2.           
Upon Termination. Upon expiration or termination of this Agreement, all rights granted to Licensee under this Agreement
with respect to the Licensed Mark shall cease, and Licensee shall immediately delete the term “Golub Capital” from its corporate
name and shall discontinue all other use of the Licensed Mark. For twenty-four (24) months following termination of this Agreement, Licensee
shall specify on all public-facing materials in a prominent place and in prominent typeface that Licensee is no longer operating under
the Licensed Mark, is no longer associated with Licensor, or such other notice as may be deemed necessary by Licensor in its sole discretion
in its prosecution, defense, and/or settlement of any Third Party Claim.

 

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ARTICLE
5.

MISCELLANEOUS

 

5.1.           
Third Party Beneficiaries. The parties agree that Adviser shall be a third party beneficiary of this Agreement, and shall
have the rights and protections provided to Licensee under this Agreement. Nothing in this Agreement, either express or implied, is intended
to or shall confer upon any third party other than Adviser any legal or equitable right, benefit or remedy of any nature whatsoever under
or by reason of this Agreement.

 

5.2.           
Assignment. Licensee shall not sublicense, assign, pledge, grant or otherwise encumber or transfer to any third party all
or any part of its rights or duties under this Agreement, in whole or in part, without the prior written consent from Licensor, which
consent Licensor may grant or withhold in its sole and absolute discretion. Any purported transfer without such consent shall be void
ab initio.

 

5.3.           
Independent Contractor. Neither party shall have, or shall represent that it has, any power, right or authority to bind
the other party to any obligation or liability, or to assume or create any obligation or liability on behalf of the other party.

 

5.4.           
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given
or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service (with signature
required), by facsimile or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the
following addresses (or such other address as the parties may provide to each other by written Notice):

 

If to Licensor:

 

Golub Capital LLC

200 Park Avenue, 25th Floor

New York, New York 10166

Tel. No.: 212.750.6060

Fax No.: 212.750.3756

Attn: Member

 

If to Licensee:

 

Golub Capital Direct Lending Corporation

200 Park Avenue, 25th Floor

New York, New York 10166

Tel. No.: 212.750.6060

Fax No.: 212.750.3756

Attn: Chief Executive Officer

 

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5.5.           
Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.
The parties unconditionally and irrevocably consent to the exclusive jurisdiction of the courts located in the State of New York and waive
any objection with respect thereto, for the purpose of any action, suit or proceeding arising out of or relating to this Agreement or
the transactions contemplated hereby.

 

5.6.           
Amendment. This Agreement may not be amended or modified except by an instrument in writing signed by each party hereto.

 

5.7.           
No Waiver. The failure of either party to enforce at any time for any period the provisions of or any rights deriving from
this Agreement shall not be construed to be a waiver of such provisions or rights or the right of such party thereafter to enforce such
provisions, and no waiver shall be binding unless executed in writing by all parties hereto.

 

5.8.           
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any
law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon
such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner
in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

 

5.9.           
Headings. The descriptive headings contained in this Agreement are for convenience of reference only and shall not affect
in any way the meaning or interpretation of this Agreement.

 

5.10.       
Counterparts. This Agreement may be executed in one or more counterparts, each of which when executed shall be deemed to
be an original instrument and all of which taken together shall constitute one and the same agreement.

 

5.11.       
 Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof
and supersedes all prior agreements and undertakings, both written and oral, between the parties with respect to such subject matter.

 

[Remainder of Page Intentionally
Left Blank]

 

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IN WITNESS WHEREOF, each party has caused this
Agreement to be executed as of July 1, 2021 by its duly authorized officer.

 

	 	LICENSOR:

 

	 	GOLUB CAPITAL LLC

 

		By:	

		Name:	David B. Golub

		Title:	Manager

 

	 	LICENSEE: 

 

	 	GOLUB CAPITAL DIRECT LENDING CORPORATION 

 

	 	By:	 

		Name:	David B. Golub

		Title:	President and Chief Executive Officer

 

ACKNOWLEDGED AND AGREED TO AS OF JULY 1, 2021

 

GC ADVISORS LLC

 

	By:	 	 

	 	Name:	 David B. Golub	 
	 	Title:	President	 

 

 

[Signature Page to Trademark License Agreement]Exhibit 10.6

 

DIVIDEND REINVESTMENT PLAN

OF

GOLUB CAPITAL DIRECT LENDING CORPORATION

 

Golub Capital Direct Lending
Corporation, a Maryland corporation (including its predecessor, the “Corporation”), has adopted the following plan
(the “Plan”), to be administered by the Corporation or such other administrator as the Corporation may appoint (the
 “Plan Administrator”), with respect to dividends and other distributions declared by its Board of Directors on shares
of its common stock, par value $0.001 per share (the “Common Stock”):

 

1.               
Unless a stockholder specifically elects to receive cash as set forth below, all cash dividends or other distributions hereafter
declared by the Board of Directors of the Corporation (the “Board of Directors”), net of any applicable withholding
tax, shall be automatically reinvested in additional shares of Common Stock, and no action shall be required on such stockholder’s
part to receive a distribution in Common Stock.

 

2.               
Such distributions shall be payable on such date or dates as may be fixed from time to time by the Board of Directors to stockholders
of record at the close of business on the record date established by the Board of Directors for the distribution involved.

 

3.                
With respect to each distribution pursuant to this Plan, the Board of Directors reserves the right, subject to the provisions of
the Investment Company Act of 1940, as amended, to issue new shares of Common Stock for the accounts of Participants (as defined below).
The number of shares of Common Stock to be issued to a Participant is determined by dividing the total dollar amount of the distribution
payable to such stockholder by the most recent quarterly net asset value per share as determined by the Board of Directors, subject to
adjustment to the extent required by Section 23 of the Investment Company Act of 1940, as amended (“NAV Per Share”).

 

4.                
The Plan Administrator shall issue shares of Common Stock acquired pursuant to the Plan for each stockholder who has not so elected
to receive distributions in cash (each a “Participant”).

 

5.                
The Plan Administrator shall confirm to each Participant each acquisition made pursuant to the Plan as soon as practicable but
not later than 30 business days after the payable date.

 

6.                
If the Plan Administrator is not the Corporation, the Plan Administrator shall forward to each Participant any Corporation-related
proxy solicitation materials and each Corporation report or other communication to stockholders, and shall vote any shares held by it
under the Plan in accordance with the instructions set forth on proxies returned by Participants.

 

7.                
In the event that the Corporation makes available to its stockholders rights to purchase additional shares or other securities,
the shares held by the Plan Administrator for each Participant under the Plan shall be added to any other shares held by the Participant
in calculating the number of rights to be issued to the Participant. Transaction processing may be either curtailed or suspended until
the completion of any stock dividend, stock split or corporate action.

 

    1 

     

    

 

8.                
There will be no brokerage charges or other charges to stockholders who participate in the Plan. If the Plan Administrator is not
the Corporation, the Plan Administrator’s service fee, if any, and expenses for administering the Plan shall be paid for by the
Corporation.

 

9.                
Each participant may elect to receive an entire distribution in cash by notifying the Plan Administrator in writing so that such
notice is received by the Plan Administrator no later than ten days prior to the record date for a distribution to stockholders, otherwise
the election will be effective only with respect to any subsequent distribution.

 

10.              
Each Participant may terminate his or its account under the Plan by so notifying the Plan Administrator by such means as the Plan
Administrator may specify in writing to the Participants. For so long as the Corporation is the Plan Administrator, a Participant may
notify the Plan Administrator at 200 Park Avenue, 25th Floor, New York, New York 10166, Attention: Investor Relations. Such
termination shall be effective immediately if the Participant’s notice is received by the Plan Administrator at least ten days prior
to any distribution date; otherwise, such termination shall be effective only with respect to any subsequent distribution.

 

11.              
The Plan may be terminated and these terms and conditions may be amended or supplemented by the Corporation at any time but, except
when necessary or appropriate to comply with applicable law or the rules or policies of the Securities and Exchange Commission or any
other regulatory authority, only by appropriate written notice at least 30 days prior to any record date for the payment of any dividend
or other distribution by the Corporation. The amendment or supplement shall be deemed to be accepted by each Participant unless, prior
to the effective date thereof, the Plan Administrator receives written notice of the termination of his, her or its account under the
Plan at least ten days prior to the effective date. Any such amendment may include an appointment by the Plan Administrator in its place
and stead of a successor agent under these terms and conditions, with full power and authority to perform all or any of the acts to be
performed by the Plan Administrator under these terms and conditions. Upon any such appointment of any agent for the purpose of receiving
distributions, the Corporation shall be authorized to pay to such successor agent, for each Participant’s account, all distributions
payable on shares of the Corporation held in the Participant’s name or under the Plan for retention or application by such successor
agent as provided in these terms and conditions.

 

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12.              
The Plan Administrator shall at all times act in good faith and use its best efforts within reasonable limits to ensure its full
and timely performance of all services to be performed by it under this Plan and to comply with applicable law, but assumes no responsibility
and shall not be liable for loss or damage due to errors unless such error is caused by the Plan Administrator’s negligence, bad
faith or willful misconduct or that of its employees or agents.

 

13.              
 These terms and conditions shall be governed by the laws of the State of New York.

 

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