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Exhibit 10.62

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF ONLY IF SUCH SECURITIES HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH STATE SECURITIES LAWS.
BY HOLDING OR ACQUIRING THIS SECURITY, EACH WARRANTHOLDER SHALL BE DEEMED TO COVENANT TO THE COMPANY AS SET FORTH IN SECTION 15(J) HEREOF.
WARRANT No. S2-14
to purchase
Shares of Common Stock
New Residential Investment Corp.
a Delaware Corporation
Issue Date: May 27, 2020
THIS COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for value received, CF NRS-E LLC or its permitted assigns (the “Warrantholder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time and from time to time on or after the date hereof (the “Issue Date”) and on or prior to 5:00 p.m., New York City time, on May 19, 2023 (the “Expiration Time”), to subscribe for and purchase from New Residential Investment Corp., a Delaware corporation (the “Company”), 9,130,982 duly authorized, validly issued, fully paid and nonassessable shares of Common Stock (as subject to adjustment hereunder, the “Shares” and each a “Share”). The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price (as defined below). The Exercise Price and the number of Shares to be purchased upon exercise of this Warrant are subject to adjustment as hereinafter provided.
1.Definitions. Unless the context otherwise requires, when used herein the following terms shall have the meanings indicated.
“Affiliate” means, as applied to any person, any other person directly or indirectly controlling, controlled by, or under common control with, that person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as applied to any person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of that person, whether through the ability to exercise voting power, by contract or otherwise. 

Notwithstanding the foregoing, neither the Canyon Lenders nor any of their Affiliates shall be deemed to be an Affiliate of the Company, solely as a result of beneficially owning this Warrant or being a lender under the Loan.
“Appraisal Procedure” means a procedure whereby two independent appraisers, one chosen by the Company and one by the Warrantholder (or if there is more than one Warrantholder, a majority in interest of Warrantholders excluding any Warrantholder that is an Affiliate of the Company), shall mutually agree upon the determinations then the subject of appraisal. Each party shall deliver a notice to the other appointing its appraiser within 5 days after the Appraisal Procedure is invoked. If within 15 days after appointment of the two appraisers they are unable to agree upon the amount in question, a third independent appraiser shall be chosen within 5 days thereafter by the mutual consent of such first two appraisers or, if such two first appraisers fail to agree upon the appointment of a third appraiser, such appointment shall be made by the American Arbitration Association, or any organization successor thereto, from a panel of arbitrators having experience in appraisal of the subject matter to be appraised. The decision of the third appraiser so appointed and chosen shall be given within 15 days after the selection of such third appraiser. If three appraisers shall be appointed and the determination of one appraiser is disparate from the middle determination by more than twice the amount by which the other determination is disparate from the middle determination, then the determination of such appraiser shall be excluded, the remaining two determinations shall be averaged and such average shall be binding and conclusive upon the Company and the Warrantholder; otherwise, the average of all three determinations shall be binding upon the Company and the Warrantholder. The costs of conducting any Appraisal Procedure shall be borne by the Company.
“Board of Directors” means the board of directors of the Company, including any duly authorized committee thereof provided that each member of such duly authorized committee is an independent director.
“business day” means any day except Saturday, Sunday and any day on which banking institutions in the State of New York generally are authorized or required by law or other governmental actions to close.
“Canyon Lenders” means Canyon Finance (Cayman) Limited, The Canyon Value Realization Master Fund-X, L.P., Canyon Value Realization Fund, L.P., CBFVEST Holdings LTD., GRFVEST Holdings LTD., Canyon IC Credit Master Fund L.P., Canyon Distressed Opportunity Master Fund III, L.P., Canyon NZ-DOF Investing, L.P., Canyon Distressed TX (A) LLC, Canyon Distressed TX (B) LLC, Canyon-EDOF (Master) L.P., Canyon Blue Credit Investment Fund L.P. and EP Canyon LTD.
“Capital Stock” means (A) with respect to any Person that is a corporation or company, any and all shares, interests, participations or other equivalents (however designated) of capital or capital stock of such Person and (B) with respect to any Person that is not a corporation or company, any and all partnership or other equity interests of such Person.
“Cashless Exercise” shall have the meaning set forth in Section 4.
        
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“Change of Control” means, at any time, the occurrence of any of the following events or circumstances: (i) any “person” or “group” (within the meaning of Section 13(d) of the Exchange Act) shall become the “beneficial owner” (within the meaning of Section 13(d) of the Exchange Act), directly or indirectly, of Capital Stock of the Company representing 40% or more of the total voting power represented by the Company’s then outstanding Capital Stock, (ii) the consummation of a merger or consolidation of the Company with or into any other Person, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent at least 40% of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation, or (iii) any direct or indirect sale, transfer or other disposition, in one transaction or a series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries, taken as a whole (it being agreed that the sale, transfer or other disposition by any Person of the Capital Stock of any subsidiary constitutes an indirect sale, transfer or disposition of the assets of such subsidiary).
“Common Stock” means the Company’s common stock, $0.01 par value per share.
“Company” has the meaning set forth in the Preamble.
“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder.
“Exercise Price” means $7.94 (as such price may be adjusted from time to time pursuant to Section 15 hereof).
“Expiration Time” has the meaning set forth in the Preamble.
“Fair Market Value” means, with respect to any security or other property, the fair market value of such security or other property as determined by the independent members of the Board of Directors, acting in good faith. If the Warrantholder objects in writing to the Board of Directors’ calculation of Fair Market Value within 10 days of receipt of written notice thereof and the Warrantholder and the Company are unable to agree on Fair Market Value during the 10-day period following the delivery of the Warrantholder’s objection, the Appraisal Procedure shall be invoked to determine Fair Market Value.
“Governmental Authority” means all United States and other governmental or regulatory authorities.
“Issue Date” has the meaning set forth in the Preamble.
“Loan” means a loan made pursuant to the Senior Secured Term Loan Facility Agreement, dated as of May 19, 2020, among the Company, as parent and the borrower, certain subsidiaries of the Company, as subsidiary guarantors, the lenders party thereto, and Cortland Capital Market Services LLC, as administrative agent and collateral agent, contemplating an $600,000,000 Senior Secured Term Loan Facility.
        
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“Market Price” means, with respect to a particular security, on any given day, the last reported sale price, regular way, or, in case no such reported sale takes place on such day, the average of the closing bid and asked prices, regular way, in either case on the principal national securities exchange on which the applicable securities are listed or admitted to trading, or if not listed or admitted to trading on any national securities exchange, the last quoted bid price in the over-the-counter market as reported by OTC Markets Group or similar organization. “Market Price” shall be determined without reference to after hours or extended hours trading. If such security is not listed and traded in a manner that the quotations referred to above are available for the period required hereunder, the Market Price per share of Common Stock shall be deemed to be the fair market value per share of such security as determined in good faith by the independent members of the Board of Directors in reliance upon an opinion of a nationally recognized independent investment banking firm retained by the Company for this purpose and reasonably acceptable to the Warrantholder (or if there is more than one Warrantholder, a majority in interest of Warrantholders excluding any Warrantholder that is an Affiliate of the Company). For the purposes of determining the Market Price of the Common Stock on the “trading day” preceding, on or following the occurrence of an event, (i) that trading day shall be deemed to commence immediately after the regular scheduled closing time of trading on the New York Stock Exchange or, if trading is closed at an earlier time, such earlier time and (ii) that trading day shall end at the next regular scheduled closing time, or if trading is closed at an earlier time, such earlier time (for the avoidance of doubt, and as an example, if the Market Price is to be determined as of the last trading day preceding a specified event and the closing time of trading on a particular day is 4:00 p.m. and the specified event occurs at 5:00 p.m. on that day, the Market Price would be determined by reference to such 4:00 p.m. closing price).
“Ordinary Cash Dividends” means a regular quarterly cash dividend on shares of Common Stock, provided that Ordinary Cash Dividends shall not include any cash dividends paid to the extent the aggregate per share dividends paid on shares of Common Stock in any calendar quarter, when declared, exceeds $0.10 per share, as adjusted for any stock split, stock dividend, reverse stock split, reclassification or similar transaction.
“Ownership Limitations” means the limitations on Transfers, Beneficial Ownership and Constructive Ownership (each as defined in the Company’s charter) of shares of Capital Stock contained in the Company’s charter, as amended from time to time. 
“Person” means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies, limited liability partnerships, joint stock companies, joint ventures, associations, companies, trusts or other organizations, whether or not legal entities, and Governmental Authorities.
“Per Share Fair Market Value” has the meaning set forth in Section 15(B).
“SEC” means the U.S. Securities and Exchange Commission.
“Securities Act” means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated thereunder.
        
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“Share” or “Shares” has the meaning set forth in the Preamble.
“trading day” means (A) if the shares of Common Stock are traded on any national or regional securities exchange or association or over-the-counter market, a business day on which such relevant exchange or quotation system is scheduled to be open for business and on which the shares of Common Stock (i) are not suspended from trading on any national or regional securities exchange or association or over-the-counter market for any period or periods aggregating one half hour or longer; and (ii) have traded at least once on the national or regional securities exchange or association or over-the-counter market that is the primary market for the trading of the shares of Common Stock or (B) if the shares of Common Stock are not traded on any national or regional securities exchange or association or over-the-counter market, a business day.
“Transfer Agent” has the meaning set forth in Section 5(A)(i).
“Warrantholder” has the meaning set forth in the Preamble.
“Warrant” has the meaning set forth in the Preamble.
“Warrant Share Delivery Date” has the meaning set forth in Section 5(A)(i).
2.Number of Shares; Exercise Price. The Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to acquire from the Company, in whole or in part, 9,130,982 fully paid and nonassessable Shares, at a purchase price per Share equal to the Exercise Price. The number of Shares and the Exercise Price are subject to adjustment as provided herein, and all references to “Common Stock,” “Shares” and “Exercise Price” herein shall be deemed to include any such adjustment or series of adjustments.
3.Limitation on Shares Deliverable Upon Exercise of Warrant. Notwithstanding anything to the contrary in this Warrant, no Warrantholder shall be entitled to receive Shares upon exercise of this Warrant to the extent (but only to the extent) that such receipt would result in a violation of the Ownership Limitations, unless the Company provides an exemption from the Ownership Limitations as permitted by its charter. Any purported delivery of Shares upon exercise of this Warrant will be void and have no effect to the extent (but only to the extent) that such delivery would result in violation of the Ownership Limitations, unless the Company provides an exemption from the Ownership Limitations as permitted by its charter.
4.Exercise of Warrant; Term. Subject to Section 3, the right to purchase the Shares represented by this Warrant is exercisable, in whole or in part by the Warrantholder, at any time or from time to time after September 19, 2020 but in no event later than the Expiration Time, by (A) the delivery of the Notice of Exercise annexed hereto (including by specifying the manner in which the Exercise Price is to be paid), duly completed and executed on behalf of the Warrantholder, by hand delivery, e-mail or facsimile, at the principal executive office of the Company located at 1345 Avenue of the Americas, 45th 
        
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Floor, New York, NY 10105, e-mail: nsantoro@fortress.com (or such other office or agency of the Company in the United States as the Company may designate by notice in writing to the Warrantholder at the address of the Warrantholder appearing on the books of the Company), and (B) payment of the Exercise Price for the Shares thereby purchased at the election of the Warrantholder (i) by tendering in cash, either by certified or cashier’s check payable to the order of the Company or by wire transfer of immediately available funds to an account designated by the Company, at the election of the Warrantholder, (ii) so long as the Warrantholder is the holder of a Loan in a principal amount exceeding the aggregate Exercise Price for the Shares, by reduction in principal amount of the Loan held by the Warrantholder in an amount equal to the aggregate Exercise Price for the Shares, (iii) by means of a Cashless Exercise as set forth in the paragraph below, or (iv) by a combination of the foregoing.
The Warrantholder may, in its sole discretion and in lieu of payment of the Exercise Price, elect to exercise all or any part of this Warrant in a “cashless” or “net-issue” exercise (a “Cashless Exercise”) by delivering to the Company a Notice of Exercise selecting a Cashless Exercise, as a result of which the Warrantholder shall be entitled to receive a number of shares of Common Stock calculated using the following formula:
          X = Y * (A - B)
                   A

        where: X =  the number of shares of Common Stock to be issued to the 
 Warrantholder

         Y = the number of shares of Common Stock with respect to which the Warrant is being exercised

         A = the Market Price of the Common Stock on the last trading day preceding the date of exercise of this Warrant

         B = the then-current Exercise Price of the Warrant
Notwithstanding anything in this Warrant to the contrary, the Warrantholder shall not be required to physically surrender this Warrant to the Company in order to exercise all or a portion of this Warrant; provided, however, that if the Warrantholder does not exercise this Warrant in its entirety, the Warrantholder shall promptly following such partial exercise surrender this Warrant to the Company and shall be entitled to receive from the Company within a reasonable time, and in any event not exceeding three business days, a new warrant in substantially identical form for the purchase of that number of Shares equal to the difference between the number of Shares subject to this Warrant and the number of Shares as to which this Warrant was so exercised. When the Warrantholder has purchased all of the Shares available hereunder and this Warrant has been exercised in full, the Warrantholder shall surrender this Warrant to the Company for cancellation within three business days after the date the final Notice of Exercise is 
        
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delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Shares available hereunder shall have the effect of lowering the outstanding number of Shares purchasable hereunder in an amount equal to the applicable number of Shares purchased. The Warrantholder and the Company shall maintain records showing the number of Shares purchased and the date of such purchases. The Company shall inform the Warrantholder if a Notice of Exercise has not been duly completed within one business day of receipt of such notice, but shall not refuse or object to the issuance of the Shares upon receipt of, and pursuant to, a duly completed Notice of Exercise. The Warrantholder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Shares hereunder, the number of Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof. 
Notwithstanding anything in this Warrant to the contrary, the Warrantholder hereby acknowledges and agrees that its exercise of this Warrant for Shares is subject to the condition that the Warrantholder will have first received, to the extent applicable and required to permit the Warrantholder to exercise this Warrant for shares of Common Stock and to own such Common Stock, the receipt of any necessary approvals and authorizations of, filings and registrations with, notifications to, or expiration or termination of any applicable waiting period under, the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations thereunder.
5.Mechanics of Exercise; Issuance of Shares; Representations, Warranties and Covenants of the Company; Listing. 
(A)Mechanics of Exercise.
(i)Delivery of Certificates and/or Book-Entry Shares Upon Exercise. Certificates for shares purchased hereunder shall be transmitted by the Company’s transfer agent (the “Transfer Agent”) to the Warrantholder by, at the Warrantholder’s request (A) crediting the account of the Warrantholder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system if the Company is then a participant in such system, (B) physical delivery to the address specified by the Warrantholder in the Notice of Exercise or (C) by entry on the books of the Company (or the Company’s transfer agent, if any), in each case by the date that is two trading days after the later of (1) payment of the Exercise Price as set forth above or (2) the date of a Cashless Exercise, if applicable (such later date, the “Warrant Share Delivery Date”). The applicable Shares shall be deemed to have been issued, and the Warrantholder or any other Person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the applicable exercise date or the date that is two trading days following the date of a Cashless Exercise, as applicable.  Notwithstanding the foregoing, the Company shall not be required to 
        
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deliver shares through the system of The Depositary Trust Company if it determines that pursuant to Section 10 a legend is required to be included on the Shares being delivered. 
(ii)Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Warrantholder a certificate or the certificates representing the Shares pursuant to Section 5(A)(i) by the Warrant Share Delivery Date (other than as a result of any action or inaction of the Warrantholder’s prime broker), then the Warrantholder shall have the right to rescind such exercise. Any rescission by the Warrantholder pursuant to this Section 5(A)(ii) shall not affect any other remedies available to the Warrantholder under applicable law or equity as a result of the Company’s failure to timely deliver the Shares.
(iii)Closing of Books.  The Company shall not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant pursuant to the terms hereof.
(B)Conditional Exercise. Notwithstanding any other provision hereof, if an exercise of any portion of this Warrant is to be made in connection with an underwritten public offering or a sale of the Company (pursuant to a merger, sale of stock, or otherwise), such exercise may, at the election of the Warrantholder (set forth in the applicable Notice of Exercise), be conditioned upon the consummation of such transaction, in which case such exercise shall not be deemed to be effective until immediately prior to the consummation of such transaction.
(C)Representations, Warranties and Covenants of the Company. The Company hereby represents, covenants and agrees, as applicable:
(iv)The Company (A) is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, (B) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as currently proposed to be conducted, to issue and enter into this Warrant and to carry out the transactions contemplated thereby, and (C) except where the failure to do so, individually or in the aggregate, has not had, and could not be reasonably expected to have, a material adverse effect on the business, assets, financial condition or operations of the Company, is qualified to do business and, where applicable is in good standing, in every jurisdiction where such qualification is required.
(v)This Warrant is, and any Warrant issued in substitution for or replacement of this Warrant shall be, upon issuance, duly authorized and validly issued.  This Warrant constitutes, and any Warrant issued in substitution for or replacement of this Warrant shall be, upon issuance, a legal, valid and binding obligation of the Company, enforceable against the Company in 
        
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accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity.
(vi)The execution, delivery and performance by the Company of this Warrant and any Warrant issued in substitution for or replacement of this Warrant does not and will not (A) violate any material provision of applicable law or the organizational documents of the Company, (B) conflict with, result in a breach of, or constitute (with the giving of any notice, the passage of time, or both) a default under any material agreement of the Company or (C) result in or require the creation or imposition of any lien upon any assets of the Company.
(vii)The Company covenants that, during the period this Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Shares upon the exercise of any purchase rights represented by this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Shares upon the exercise of the purchase rights under this Warrant. The Company shall take all such action as may be necessary or appropriate to assure that such Shares may be issued as provided herein without violation of any applicable law or regulation or any preemptive or similar rights of any equity holder of the Company. The Company shall (A) procure, at its sole expense, the listing of the Shares issuable upon exercise of this Warrant, subject to issuance or notice of issuance, on all principal stock exchanges on which the Common Stock is then listed or traded and (B) maintain such listings of such Shares at all times after issuance. 
(viii)The Company covenants that all Shares which may be issued upon the exercise of the purchase rights represented by this Warrant shall, upon exercise of the purchase rights represented by this Warrant and payment for such Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges (other than liens or charges created by the Warrantholder, except as otherwise provided herein, income and franchise taxes incurred in connection with the exercise of the Warrant or taxes in respect of any transfer occurring contemporaneously therewith)
(ix)Except and to the extent as waived or consented to by the Warrantholder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, 
        
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transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but shall at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of the Warrantholder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company shall (A) not increase the par value of any Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (B) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Shares upon the exercise of this Warrant, (C) use its reasonable best efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant, and (D) use reasonable best efforts to ensure that the Shares may be issued without violation of any applicable law or regulation or of any requirement of any securities exchange on which the Shares are listed or traded. Notwithstanding the foregoing, nothing in this paragraph shall prevent the Company from repurchasing or otherwise buying back shares of its Common Stock.
(x)Before taking any action which would result in an adjustment in the number of Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock at the Exercise Price as so adjusted.
6.No Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a Share that the Warrantholder would otherwise be entitled to purchase upon such exercise, the Company shall, at the Company’s election, either (A) pay to such Warrantholder an amount in cash (by delivery of a certified or official bank check or by wire transfer of immediately available funds) equal to the product of (1) such fraction multiplied by (2) the Market Price of one Share on the exercise date or the date of Cashless Exercise, as applicable, or (B) round up to the next whole share.
7.No Rights as Stockholders; Transfer Books. This Warrant does not entitle the Warrantholder to any voting rights or other rights as a stockholder of the Company prior to the date of exercise hereof. The Company will at no time close its transfer books against transfer of this Warrant in any manner which interferes with the timely exercise of this Warrant.
8.Charges, Taxes and Expenses. Issuance of certificates for Shares to the Warrantholder upon the exercise of this Warrant shall be made without charge to the Warrantholder for 
        
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any issue or transfer tax or other incidental expense in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company.
9.Accredited Investor. The Warrantholder acknowledges that the Warrant and the Shares issuable upon exercise have not been registered under the Securities Act or under any state securities laws. The Warrantholder expressly warrants that it (i) is acquiring the Warrant (and any Shares issuable upon exercise) pursuant to an exemption from registration under the Securities Act solely for investment with no present intention to distribute the Warrant (or any Shares issuable upon exercise) to any person in violation of the Securities Act or any applicable U.S. state securities laws, (ii) will not sell or otherwise dispose of any of the Warrant (or any Shares issuable upon exercise), except in compliance with the registration requirements or exemption provisions of the Securities Act and any applicable U.S. state securities laws, (iii) has such knowledge and experience in financial and business matters and in investments of this type that it is capable of evaluating the merits and risks and of making an informed investment decision, and has conducted a review of the business and affairs of the Company that it considers sufficient and reasonable, (iv) is able to bear the economic risk and at the present time is able to afford a complete loss of such investment and (v) is an “accredited investor” (as that term is defined by Rule 501 under the Securities Act).
10.Transfer/Assignment.
(A)Subject to compliance with clauses (B) and (C) of this Section 10, this Warrant and all rights hereunder are transferable, in whole or in part, upon the books of the Company by the registered holder hereof in person or by duly authorized attorney, and a new warrant shall be made and delivered by the Company, of the same tenor and date as this Warrant but registered in the name of one or more transferees, upon surrender of this Warrant, duly endorsed, to the office or agency of the Company described in Section 4. All expenses (other than stock transfer taxes) and other charges payable in connection with the preparation, execution and delivery of the new warrants pursuant to this Section 10 shall be paid by the Company.
(B)This Warrant shall not be transferrable prior to September 19, 2020; provided that prior to such date, (i) if the Warrantholder sells, assigns, transfers or grants a participation in all or a portion of its rights and obligations under a Loan, the Warrantholder shall be permitted to transfer a pro rata portion of this Warrant together with such sale, assignment, transfer or participation, (ii) the Warrantholder shall be permitted to transfer all or a portion of this Warrant to any of its Affiliates, any initial lender under the Loan or any Affiliate of such an initial lender.  
(C)If and for so long as the Warrant has not been registered under the Securities Act, this Warrant Certificate shall contain a legend as set forth in the first paragraph of the legend set forth on the first page of this Warrant. A similar legend will be 
        
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included on any Shares issuable upon exercise of the Warrant under similar circumstances. 
11.Exchange and Registry of Warrant. This Warrant is exchangeable, upon the surrender hereof by the Warrantholder to the Company, for a new warrant or warrants of like tenor and representing the right to purchase the same aggregate number of Shares. The Company shall maintain a registry showing the name and address of the Warrantholder as the registered holder of this Warrant. This Warrant may be surrendered for exchange or exercise, in accordance with its terms, at the office of the Company, and the Company shall be entitled to rely in all respects, prior to written notice to the contrary, upon such registry.
12.Loss, Theft, Destruction or Mutilation of Warrant. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and in the case of any such loss, theft or destruction, upon receipt of a bond, indemnity or security reasonably satisfactory to the Company, or, in the case of any such mutilation, upon surrender and cancellation of this Warrant, the Company shall make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and representing the right to purchase the same aggregate number of Shares as provided for in such lost, stolen, destroyed or mutilated Warrant.
13.Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a business day, then such action may be taken or such right may be exercised on the next succeeding day that is a business day.
14.Rule 144 Information. The Company covenants that it shall use its reasonable best efforts to timely file all reports and other documents required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations promulgated by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the request of any Warrantholder, make publicly available such information as necessary to permit sales pursuant to Rule 144 or Regulation S under the Securities Act), and it shall use reasonable best efforts to take such further action as any Warrantholder may reasonably request, in each case to the extent required from time to time to enable such holder to, if permitted by the terms of this Warrant, sell this Warrant without registration under the Securities Act within the limitation of the exemptions provided by (A) Rule 144 or Regulation S under the Securities Act, as such rules may be amended from time to time, or (B) any successor rule or regulation hereafter adopted by the SEC. Upon the written request of any Warrantholder, the Company will deliver to such Warrantholder a written statement that it has complied with such requirements.
15.Adjustments and Other Rights. Subject in  each case to Section 15(J), the Exercise Price and the number of Shares issuable upon exercise of this Warrant shall be subject to adjustment from time to time as follows; provided, that if more than one subsection of this Section 15 is applicable to a single event, the subsection shall be applied that 
        
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produces the largest adjustment and no single event shall cause an adjustment under more than one subsection of this Section 15 so as to result in duplication:
(A)Stock Splits, Subdivisions, Reclassifications or Combinations. If the Company shall (i) declare and pay a dividend or otherwise make a distribution on its Common Stock payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivide (by any stock split, recapitalization or otherwise) the outstanding shares of Common Stock into a greater number of shares, or (iii) combine (including by way of reverse stock split) or reclassify the outstanding shares of Common Stock into a smaller number of shares, the number of Shares issuable upon exercise of this Warrant at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be proportionately adjusted so that the Warrantholder after such date shall be entitled to purchase the number of shares of Common Stock which such holder would have owned or been entitled to receive in respect of the shares of Common Stock subject to this Warrant after such date had this Warrant been exercised immediately prior to such date. In such event, the Exercise Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be adjusted to the number obtained by dividing (x) the product of (1) the number of Shares issuable upon the exercise of this Warrant before such adjustment and (2) the Exercise Price in effect immediately prior to the record or effective date, as the case may be, for the dividend, distribution, subdivision, combination or reclassification giving rise to this adjustment by (y) the new number of Shares issuable upon exercise of the Warrant determined pursuant to the immediately preceding sentence. Any adjustment made pursuant to this Section 15(A) shall, in the case of a dividend or distribution, become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and, in the case of a subdivision, combination or re-classification, become effective immediately after the effective date of such subdivision, combination or re-classification.
(B)Other Distributions. In case the Company shall fix a record date for the making of a distribution to any or all holders of shares of its Common Stock of securities, evidences of indebtedness, assets, cash, rights, warrants or other property (excluding Ordinary Cash Dividends and other dividends or distributions referred to in Section 15(A)), in each such case, the Exercise Price in effect prior to such record date shall be reduced immediately thereafter to the price determined by multiplying the Exercise Price in effect immediately prior to the reduction by the quotient of (x) the Market Price of the Common Stock on the last trading day preceding the first date on which the Common Stock trades regular way on the principal national securities exchange on which the Common Stock is listed or admitted to trading without the right to receive such distribution, minus the amount of cash and/or the Fair Market Value of the securities, evidences of 
        
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indebtedness, assets, rights, warrants or other property to be so distributed in respect of one share of Common Stock (such amount and/or Fair Market Value, the “Per Share Fair Market Value”) divided by (y) such Market Price on such date specified in clause (x); such adjustment shall be made successively whenever such a record date is fixed. In such event, the number of Shares issuable upon the exercise of this Warrant shall be increased to the number obtained by dividing (x) the product of (1) the number of Shares issuable upon the exercise of this Warrant before such adjustment, and (2) the Exercise Price in effect immediately prior to the distribution giving rise to this adjustment by (y) the new Exercise Price determined in accordance with the immediately preceding sentence. In the case of adjustment for a cash dividend that is, or is coincident with, a regular quarterly cash dividend, the Per Share Fair Market Value would be reduced by the per share amount of the portion of the cash dividend that would constitute an Ordinary Cash Dividend. In the event that such distribution is not so made, the Exercise Price and the number of Shares issuable upon exercise of this Warrant then in effect shall be readjusted, effective as of the date when the Board of Directors determines not to distribute such shares, evidences of indebtedness, assets, rights, cash, warrants or other property, as the case may be, to the Exercise Price that would then be in effect and the number of Shares that would then be issuable upon exercise of this Warrant if such record date had not been fixed.
(C)Adjustments Upon Reorganization, Reclassification, Consolidation or Merger. In the event of any (i) capital reorganization of the Company, (ii) reclassification of the stock of the Company (other than a reclassification of Common Stock referred to in Section 15(A)), (iii) consolidation or merger of the Company with or into another Person, (iv) sale of all or substantially all of the Company’s assets to another Person or (v) other similar transaction (other than any such transaction covered by Section 15(A)) in each case which entitles the holders of Common Stock to receive (either directly or upon subsequent liquidation) stock, securities or property with respect to or in exchange for Common Stock, each Warrant shall, immediately after such reorganization, reclassification, consolidation, merger, sale or similar transaction, remain outstanding and shall thereafter, in lieu of or in addition to (as the case may be) the number of Shares then exercisable under this Warrant, be exercisable for the kind and number of shares of stock or other securities or property of the Company or of the successor Person resulting from such transaction to which the Warrantholder would have been entitled upon such reorganization, reclassification, consolidation, merger, sale or similar transaction if the Warrantholder had exercised this Warrant in full immediately prior to the time of such reorganization, reclassification, consolidation, merger, sale or similar transaction and acquired the applicable number of Shares then issuable hereunder as a result of such exercise (without taking into account any limitations or restrictions on the exercisability of this Warrant); and, in such case, appropriate adjustment shall be made with respect to the Warrantholder’s rights under this Warrant to insure that the provisions of this Section 15 shall thereafter be applicable, as nearly as possible, to this Warrant in relation to any shares of stock, 
        
14

securities or property thereafter acquirable upon exercise of this Warrant. In determining the kind and amount of stock, securities or property receivable upon exercise of this Warrant following the consummation of such transaction, if the holders of Common Stock have the right to elect the kind or amount of consideration receivable upon consummation of such transaction, then the Warrantholder shall have the right to make a similar election (including, without limitation, being subject to similar proration constraints) upon exercise of this Warrant with respect to the number of shares of stock or other securities or property which the Warrantholder will receive upon exercise of this Warrant. The provisions of this Section 15(A) shall similarly apply to successive reorganizations, reclassifications, consolidations, mergers, sales or similar transactions. Prior to the consummation thereof, the successor Person (if other than the Company) resulting from such reorganization, reclassification, consolidation, merger, sale or similar transaction, shall assume, by written instrument substantially similar in form and substance to this Warrant, the obligation to deliver to the Warrantholder such shares of stock, securities or property which, in accordance with the foregoing provisions, such Warrantholder shall be entitled to receive upon exercise of this Warrant.
(D)Rounding of Calculations; Minimum Adjustments. All calculations under this Section 15 shall be made to the nearest one-tenth (1/10th) of a cent or to the nearest one-hundredth (1/100th) of a share, as the case may be. Any provision of this Section 15 to the contrary notwithstanding, no adjustment in the Exercise Price or the number of Shares into which this Warrant is exercisable shall be made if the amount of such adjustment would be less than $0.01 or one-tenth (1/10th) of a share of Common Stock, but any such amount shall be carried forward and an adjustment with respect thereto shall be made at the time of and together with any subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall aggregate $0.01 or 1/10th of a share of Common Stock, or more.
(E)Timing of Issuance of Additional Common Stock Upon Certain Adjustments. In any case in which the provisions of this Section 15 shall require that an adjustment shall become effective immediately after a record date for an event, the Company may defer until the occurrence of such event (i) issuing to the Warrantholder of this Warrant exercised after such record date and before the occurrence of such event the additional shares of Common Stock issuable upon such exercise by reason of the adjustment required by such event over and above the shares of Common Stock issuable upon such exercise before giving effect to such adjustment and (ii) paying to such Warrantholder any amount of cash in lieu of a fractional share of Common Stock; provided, however, that the Company upon request shall deliver to such Warrantholder a due bill or other appropriate instrument evidencing such Warrantholder’s right to receive such additional shares, and such cash, upon the occurrence of the event requiring such adjustment.
        
15

(F)Notice to the Warrantholder.
(i)Adjustment to Exercise Price.  Whenever the Exercise Price is adjusted pursuant to any provision of this Section 15, the Company shall promptly compute such adjustment, in good faith, in accordance with the terms of this Warrant, and prepare a certificate setting forth such adjustment, including (A) a statement of the adjusted Exercise Price and adjusted number or type of Shares or other securities or property issuable upon exercise of this Warrant (as applicable), (B) in the case of adjustment pursuant to Section 15(B), a statement of the portion of assets or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common Stock, and setting forth a brief statement of the facts requiring such adjustment and certifying the calculation thereof, and  (C) the amount of withholding taxes, if any, that would be payable by the Company as a result of the adjustment, as described in Section 15(J). The Company shall deliver a copy of each such certificate to the Warrantholder as promptly as reasonably practicable following any adjustment of the Exercise Price, but in any event not later than ten business days thereafter.
(ii)Notice to Allow Exercise by the Warrantholder.  If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special or nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock or rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights of the Company, (D) the Company enters into or becomes bound by an agreement in connection with a Change of Control or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case (other than in the case of an Ordinary Cash Dividend), the Company shall cause to be mailed to the Warrantholder at the address appearing in the Company’s records, at least 10 business days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distribution, redemption, rights or warrants are to be determined or (y) the date on which such Change of Control is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of Common Stock for securities, cash or other property deliverable upon such Change of Control; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice.  The Warrantholder shall remain entitled to exercise this 
        
16

Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein. Except as otherwise prohibited by applicable laws, to the extent that any notice provided pursuant to this Section 15(F)(ii) contains material, non-public information regarding the Company, the Company shall disclose such information regarding the Company in a Current Report on Form 8-K and file such Current Report on Form 8-K with the SEC no later than the business day following the date such notice is delivered to the Warrantholder.
(G)Statement Regarding Adjustments. Whenever the Exercise Price or the number of Shares into which this Warrant is exercisable shall be adjusted as provided in Section 15, the Company shall forthwith file at the principal office of the Company a statement showing in reasonable detail the facts requiring such adjustment and the Exercise Price that shall be in effect and the number of Shares into which this Warrant shall be exercisable after such adjustment, and the Company shall also cause a copy of such statement to be sent by mail, first class postage prepaid, to each Warrantholder at the address appearing in the Company’s records.
(H)Proceedings Prior to Any Action Requiring Adjustment. As a condition precedent to the taking of any action which would require an adjustment pursuant to this Section 15, the Company shall take any action which may be necessary, including obtaining regulatory, New York Stock Exchange or other applicable national securities exchange or stockholder approvals or exemptions, in order that the Company may thereafter validly and legally issue as fully paid and nonassessable all shares of Common Stock that the Warrantholder is entitled to receive upon exercise of this Warrant pursuant to this Section 15.
(I)Adjustment Rules. Any adjustments pursuant to this Section 15 shall be made successively whenever an event referred to herein shall occur. If an adjustment in Exercise Price made hereunder would reduce the Exercise Price to an amount below par value of the Common Stock, then such adjustment in Exercise Price made hereunder shall reduce the Exercise Price to the par value of the Common Stock.
(J)Withholding. The Warrantholder shall indemnify the Company for any liability for withholding tax on any constructive dividends for tax purposes resulting from an  adjustment described in this Section 15. Promptly following Warrantholder’s receipt of the notice described in  Section 15(F)(i), Warrantholder shall remit to the Company the full amount of such withholding taxes (or evidence reasonably satisfactory to the Company that a reduced amount of withholding shall apply, together with payment of the reduced amount). Notwithstanding anything to the contrary  in  this  Section  15, the adjustments to the Exercise Price described in this Section 15 shall not be effective until the Warrantholder has complied with its 
        
17

obligations pursuant to the preceding sentence. This Section 15(J) shall survive the Exercise, lapse, transfer, or termination of this Warrant.  If there is more than one permissible method to determine the amount of the constructive dividend for tax purposes, the Company will select the method that results in the lowest constructive dividend amount.
16.Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed entirely within such State. Each of the parties hereto agrees (a) to submit to the exclusive personal jurisdiction of the State or Federal courts in the Borough of Manhattan, The City of New York, (b) that exclusive jurisdiction and venue shall lie in the State or Federal courts in the State of New York, and (c) that notice may be served upon such party at the address and in the manner set forth for such party in Section 19 hereof. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO HEREBY UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS WARRANT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
17.Binding Effect. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall be binding upon and inure to the benefit of the parties hereto and their respective the successors and permitted assigns.  The provisions of this Warrant are intended to be for the benefit of the Warrantholder from time to time of this Warrant and shall be enforceable by the Warrantholder or holder of Shares.
18.Amendments. This Warrant may be amended and the observance of any term of this Warrant may be waived only with the written consent of the Company and the Warrantholder.
19.Notices. Any notice, request, instruction or other document to be given hereunder by any party to the other shall be in writing and shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof, upon receipt of facsimile, or three business days after depositing it in the United States mail with postage prepaid and properly addressed. 
Notices and other communications hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites). Notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause of notification that such notice or communication is available and identifying the website address therefor
        
18

All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice. 
If to the Company, to:

          New Residential Investment Corp.
          1345 Avenue of the Americas, 45th Floor
          New York, NY 10105
          Attention: Nicola Santoro, Jr.
          Telephone: (212) 798-6100
          Email:  nsantoro@fortress.com

         With a copy to:

          New Residential Investment Corp. 
          1345 Avenue of the Americas, 45th Floor
          New York, New York 10105
          Attention: Jonathan Grebinar
          Phone: 212-798-6100
          Email: jgrebinar@fortress.com 

         With a copy to:

          New Residential Investment Corp. 
          1345 Avenue of the Americas, 45th Floor
          New York, New York 10105 
          Attention: Varun Wadhawan
          Phone: 212-798-6100
          Email: vwadhawan@fortress.com 
With a copy to (which copy alone shall not constitute notice):
Skadden, Arps, Slate, Meagher and Flom LLP
One Manhattan West
New York, New York 10001
Attn:  Michael Zeidel and Michael Schwartz
Telephone: (212) 735 3259 and (212) 735 3694
Fax:  (917) 777 3259 and (917) 777 3694
Email:  Michael.Zeidel@skadden.com and Michael.Schwartz@skadden.com

If to the Warrantholder, to the address (or facsimile number or e-mail) set forth on Schedule A hereto; 
         With a copy to:
 
        
19

          Fortress Credit Advisors LLC
          One Market Plaza, Spear Tower, 42nd Flr
          San Francisco, CA 94105
          Attention: Mario Rivera 
          Email: MRivera@fortress.com
18.  Limitation of Liability.  No provision hereof, in the absence of any affirmative action by the Warrantholder to exercise this Warrant to purchase Shares, and no enumeration herein of the rights or privileges of the Warrantholder, shall give rise to any liability of the Warrantholder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.
19. Remedies.  The Warrantholder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant.  The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.
20. Severability.  Any provision of this Warrant held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof, and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.
21. Entire Agreement. This Warrant and the forms attached hereto, contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior and contemporaneous arrangements or undertakings with respect thereto.
[Remainder of page intentionally left blank]

        
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[Form of Notice of Exercise]
Date: _________
TO: New Residential Investment Corp.
RE: Election to Purchase Common Stock
The undersigned, pursuant to the provisions set forth in the attached Warrant, hereby agrees to subscribe for and purchase the number of shares of the Common Stock set forth below covered by such Warrant. The undersigned, in accordance with Section 2 of the Warrant, hereby agrees to pay the aggregate Exercise Price for such shares of Common Stock by means of the manner specified below. In the event that the undersigned desires to use a combination of such methods, such intent should be described in detail below. A new warrant evidencing the remaining shares of Common Stock covered by such Warrant, but not yet subscribed for and purchased, if any, should be issued in the name set forth below.
Number of Shares of Common Stock: ____________________
Aggregate Exercise Price: ___________________________
Cash Payment:☐   ___________________________
Reduction in Principal Amount of Loan:☐   ___________________________
Cashless Exercise:☐   ___________________________
Conditional Exercise:☐   ___________________________
Method of Delivery: ☐ Book Entry
          ☐ Certificated
          ☐ Electronic
If to Prime Broker please provide Prime Broker account information: 
__________________________________________________
						
	Warrantholder:	
	By:	
	Name:	
	Title:	

        21

SC1:5209824.2A

IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by a duly authorized officer.
Dated: May 19, 2020 
New Residential Investment Corp.
By:   
        Name:
        Title:
 
[Signature Page to Warrant]

SC1:5209824.2A

Schedule A
Fortress Credit Advisors LLC
1345 Avenue of the Americas, 46th Flr
New York, NY 10105
Attention: GC Credit 
Email: gccredit@fortress.com

SC1:5209824.2Aexhibit1063

                                                              Exhibit 10.63                                            [Execution Version]                                                                                                                                                         REGISTRATION RIGHTS AGREEMENT                by and among        New Residential Investment Corp.                    and   The Investors Set Forth on Schedule I Hereto            Dated as of May 19, 2020                                                                                                                                   

 

                               TABLE OF CONTENTS     Section 1.  Certain Definitions ...................................................................................................2  Section 2.  Demand Registration ...............................................................................................5  Section 3.  Piggyback Registrations...........................................................................................7  Section 4.  S-3 Shelf Registration ..............................................................................................8  Section 5.  Suspension Periods ................................................................................................10  Section 6.  [Reserved] ..............................................................................................................11  Section 7.  Registration Procedures .........................................................................................11  Section 8.  Registration Expenses ............................................................................................15  Section 9.  Indemnification ......................................................................................................16  Section 10. Securities Act Restrictions .....................................................................................18  Section 11. Transfers of Rights .................................................................................................18  Section 12. Miscellaneous ........................................................................................................18                                              i   

 

           THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), is made and entered   into as of May 19, 2020, by and among New Residential Investment Corp., a Delaware corporation   (the “Company”), and each of the investors set forth on Schedule I hereto (the “Investors”, and   each an “Investor”).          WHEREAS, the Company has issued, or has agreed to issue, to each Investor a warrant   (collectively, the “Warrants”, and each a “Warrant”) to purchase shares of its common stock, par   value $0.01 per share (the “Common Stock”), subject to adjustment as provided in the Warrants;          WHEREAS, in connection with the issuance of the Warrants, the parties desire to enter   into this Agreement in order to create certain registration rights for the Investors as set forth below;          NOW, THEREFORE, in consideration of the mutual covenants and agreements herein   contained and other good and valid consideration, the receipt and sufficiency of which are hereby   acknowledged, the parties to this Agreement hereby agree as follows:          Section 1. Certain Definitions. In addition to the terms defined elsewhere in this   Agreement, the following terms shall have the following meanings:                “Affiliate” means, as applied to any Person, any other Person directly or indirectly   controlling, controlled by, or under common control with, that Person. For the purposes of this   definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled   by” and “under common control with”), as applied to any Person, means the possession, directly   or indirectly, of the power to direct or cause the direction of the management or policies of that   Person, whether through the ability to exercise voting power, by contract or otherwise.               “Agreement” means this Registration Rights Agreement, including all   amendments, modifications and supplements and any exhibits or schedules to any of the foregoing,   and shall refer to this Registration Rights Agreement as the same may be in effect at the time such   reference becomes operative.                “beneficially own” shall be determined in accordance with Rules 13d-3 and 13d-5   under the Exchange Act; “beneficial owner” and “beneficially own” shall have conforming  definitions.               “Block Trade” shall mean the disposition of Common Stock pursuant to a “block”   trade or “overnight” deal. For purposes of clarity, a “block” trade or “overnight” deal means a   registered securities offering in which an underwriter agrees to purchase the Common Stock at an   agreed price or pricing formula without a prior marketing process.                 “Common Stock” has the meaning set forth in the first Recital hereto.                “Company” has the meaning set forth in the introductory paragraph.                “Demand” has the meaning set forth in Section 2(a).                “Demand Registration” has the meaning set forth in Section 2(a).                                          2    

 

                 “Demand Registration Statement” has the meaning set forth in Section 2(a).                “Exchange Act” means the Securities Exchange Act of 1934, as amended.                “Exercise Shares” means the shares of Common Stock acquired by an Investor   upon exercise of a Warrant.                “FINRA” means the Financial Industry Regulatory Authority, Inc. or any successor   organization.                “Form S-3” means a registration statement on Form S-3 under the Securities Act or   such successor forms thereto permitting registration of securities under the Securities Act.                “Governmental Entity” means all United States and other governmental or   regulatory authorities.                “Investor” or “Investors” has the meaning set forth in the introductory paragraph;   provided that if any Permitted Transferee succeeds to the rights and obligations of such Investor   or Investors hereunder in accordance with Section 11, “Investor” or “Investors” shall also mean   such Permitted Transferees.                “Minimum Amount” means $50,000,000.                “Permitted Transferee” means any transferee of a Warrant in accordance with   Section 11.                “Person” means any individual, sole proprietorship, partnership, limited liability   company, joint venture, trust, incorporated organization, association, corporation, institution,   public benefit corporation, Governmental Entity or any other entity.                “Piggyback Registration” has the meaning set forth in Section 3(a).                “Prospectus” means the prospectus or prospectuses (whether preliminary or final)   included in any Registration Statement and relating to the terms of the offering of any portion of   Registrable Shares, as amended or supplemented and including all material incorporated by   reference in such prospectus or prospectuses.                “Registrable Shares” means, at any time, with respect to a particular investor (i) the   Exercise Shares, and (ii) any securities issued by the Company after the date hereof in respect of   the Exercise Shares by way of a share dividend or share split or in connection with a combination   of shares, recapitalization, merger, consolidation or other reorganization, but excluding (I) any and   all Exercise Shares and other securities held by such Investor referred to in clauses (i) and (ii) that  at any time after the date hereof (a) have been sold pursuant to an effective registration statement  or Rule 144 under the Securities Act, (b) are eligible for resale by such Investor pursuant to Rule   144 under the Securities Act without limitation thereunder on volume or manner of sale when such   Investor is no longer entitled to further Demand Registrations under Section 2(b) hereof and such   Registrable Shares represent beneficial ownership of less than 1.0% of the outstanding Common  Stock, (c) are not outstanding or (d) have been transferred in violation of Section 10 hereof or the                                          3    

 

     provisions of the applicable Warrant or to a Person that does not become an Investor pursuant to   Section 11 hereof (or any combination of clauses (a), (b), (c) and (d)). It is understood and agreed   that, once a security of the kind described in clause (i) or (ii) above becomes a security of the kind   described in clause (I) above, such security shall cease to be a Registrable Share for all purposes   of this Agreement and the Company’s obligations regarding Registrable Shares hereunder shall  cease to apply with respect to such security.               “Registration Expenses” has the meaning set forth in Section 8(a).                “Registration Statement” means any registration statement of the Company which   covers any of the Registrable Shares pursuant to the provisions of this Agreement, including the   Prospectus, amendments and supplements to such Registration Statement, including post-effective   amendments, all exhibits and all documents incorporated by reference in such Registration   Statement.                “S-3 Shelf Registration” has the meaning set forth in Section 4(a).                “S-3 Shelf Registration Statement” has the meaning set forth in Section 4(a).                “SEC” means the Securities and Exchange Commission or any successor agency.                “Securities Act” means the Securities Act of 1933, as amended.                “Shares” means any shares of Common Stock. If at any time Registrable Shares   include securities of the Company other than Common Stock, then, when referring to Shares other   than Registrable Shares, “Shares” shall include the class or classes of such other securities of the   Company.                “Shelf Takedown” has the meaning set forth in Section 4(b).                “Suspension Period” has the meaning set forth in Section 5.                “Termination Date” means with respect to a particular Investor the first date on   which such Investor no longer owns any Registrable Shares or such Investor is no longer an   “Investor”.                “underwritten offering” means a registered offering in which securities of the   Company are sold to one or more underwriters on a firm-commitment basis for reoffering to the   public, and “underwritten Shelf Takedown” means an underwritten offering effected pursuant to   an S-3 Shelf Registration.                “Warrant” or “Warrants” have the meaning set forth in the first Recital hereto.          In addition to the above definitions, unless the context requires otherwise:                    (i)     any reference to any statute, regulation, rule or form as of any time         shall mean such statute, regulation, rule or form as amended or modified and shall also         include any successor statute, regulation, rule or form from time to time;                                          4    

 

                    (ii)     “including” shall be construed as inclusive without limitation, in         each case notwithstanding the absence of any express statement to such effect, or the         presence of such express statement in some contexts and not in others;                   (iii)    references to “Section” are references to Sections of this Agreement;                   (iv)     words such as “herein”, “hereof”, “hereinafter” and “hereby” when         used in this Agreement refer to this Agreement as a whole;                   (v)      references to “business day” mean any day except Saturday, Sunday         and any day which shall be a legal holiday or a day on which banking institutions in the         State of New York generally are authorized or required by law or other governmental action         to close; and                   (vi)     the symbol “$” means U.S. dollars.          Section 2. Demand Registration.                (a)   Right to Request Registration. Subject to the provisions hereof, until the   applicable Termination Date, each Investor or any group of Investors may at any time request in   writing (a “Demand”) registration for resale under the Securities Act of all or part of the   Registrable Shares separate from an S-3 Shelf Registration (a “Demand Registration”); provided,   however, that (based on the then-current market prices) the number of Registrable Shares included   in the Demand Registration would, if fully sold, reasonably be expected to yield gross proceeds to   such Investor(s) of at least the Minimum Amount. Within seven days after receipt of a Demand,   the Company shall give written notice of such Demand to any other Person that on the date a   Demand is delivered to the Company is an Investor. Subject to Section 2(c), the Company shall   include in the Demand Registration covered by such Demand all Registrable Shares with respect   to which the Company has received a written request for inclusion therein within three business   days after receipt of such written notice. Subject to Section 2(d) and Sections 5 and 7 below, the   Company shall use reasonable best efforts (i) to file a Registration Statement registering for resale   such number of Registrable Shares as requested to be so registered pursuant to this Section 2(a) (a   “Demand Registration Statement”) within 45 days after such Investor(s)’ request therefor and (ii)   if necessary, to cause such Demand Registration Statement to be declared effective by the SEC as   soon as practical thereafter. If permitted under the Securities Act, such Registration Statement shall   be one that is automatically effective upon filing.                (b)   Number of Demand Registrations. Subject to the limitations of   Sections 2(a), 2(d) and 4(a), the Investors shall be entitled to request up to three Demand   Registrations in the aggregate (regardless of the number of Permitted Transferees who may   become an Investor pursuant to Section 11). A Registration Statement shall not count as a   permitted Demand Registration unless and until it has become effective, unless the Investor(s)   elect to have such Registration Statement count as a Demand Registration pursuant to Section 8(b)  hereof. Notwithstanding anything to the contrary contained in this Agreement, the aggregate  number of Demand Registrations, underwritten offerings and underwritten Shelf Takedowns shall  not exceed four in total.                                            5    

 

                 (c)   Priority on Demand Registrations. The Company may include Shares other   than Registrable Shares in a Demand Registration for any accounts (including for the account of   the Company) on the terms provided below; and if such Demand Registration is an underwritten   offering, such Shares may be included only with the consent of the managing underwriters of such   offering. If the managing underwriters of the requested Demand Registration advise the Company   and the Investor(s) requesting such Demand Registration that in their opinion the number of Shares   proposed to be included in the Demand Registration exceeds the number of Shares which can be   sold in such underwritten offering without materially delaying or jeopardizing the success of the   offering (including the price per share of the Shares proposed to be sold in such underwritten   offering), the Company shall include in such Demand Registration (i) first, the number of   Registrable Shares requested to be included therein by the Investor(s) pursuant to clause 2(a) above   pro rata among all such Investors on the basis of the number of Shares requested to be included   therein, and (ii) second, the number of Shares proposed to be included therein by any other Persons   (including Shares to be sold for the account of the Company) allocated among such Persons in   such manner as the Company may determine. If the number of Shares which can be sold is less   than the number of Shares proposed to be registered pursuant to clause (i) above by such   Investor(s), the amount of Shares to be sold shall be allocated pro rata among such Investor(s).                (d)   Restrictions on Demand Registrations. No Investor shall be entitled to   request a Demand Registration (i) within three months after any Investor has sold Shares in a   Demand Registration or an underwritten Shelf Takedown requested pursuant to Section 4(b), (ii)   within three months after any primary or secondary offering of Shares by the Company, including   a Block Trade or (iii) at any time when the Company is diligently pursuing (x) a primary or   secondary underwritten offering of Shares pursuant to a registration statement (but only if the   Investors are provided their piggyback rights, if any, in accordance with Sections 3(a) and 3(c)) or   (y) a Block Trade. Notwithstanding the foregoing, the Company shall not be obligated to proceed   with a Demand Registration if the offering to be effected pursuant to such registration can be   effected pursuant to an S-3 Shelf Registration and the Company, in accordance with Section 4,   effects or has effected an S-3 Shelf Registration pursuant to which such offering can be effected.                (e)   Underwritten Offerings. An Investor or group of Investors shall be entitled   to request an underwritten offering pursuant to a Demand Registration, but only if the number of   Registrable Shares to be sold in the offering would reasonably be expected to yield gross proceeds   to such Investor(s) of at least the Minimum Amount (based on then-current market prices) and  only if the request is not made within three months after any Investor has sold Shares in an  underwritten offering pursuant to (i) a Demand Registration or (ii) an S-3 Shelf Registration. If  any of the Registrable Shares covered by a Demand Registration are to be sold in an underwritten  offering, the Company shall have the right to select the managing underwriter or underwriters to  lead the offering.               (f)   Effective Period of Demand Registrations. Upon the date of effectiveness   of any Demand Registration for an underwritten offering and if such offering is priced promptly   on or after such date, the Company shall use reasonable best efforts to keep such Demand   Registration Statement effective for a period equal to 60 days from such date or such shorter period   which shall terminate when all of the Registrable Shares covered by such Demand Registration   have been sold. If the Company shall withdraw any Demand Registration pursuant to Section 5   before such 60 days end and before all of the Registrable Shares covered by such Demand                                          6    

 

     Registration have been sold pursuant thereto, the Investor(s) whose Registrable Shares were   included therein and not sold shall be entitled to a replacement Demand Registration which shall   be subject to all of the provisions of this Agreement. A Demand Registration shall not count against   the limit on the number of such registrations set forth in Section 2(b) if (i) after the applicable   Registration Statement has become effective, such Registration Statement or the related offer, sale   or distribution of Registrable Shares thereunder becomes the subject of any stop order, injunction   or other order or restriction imposed by the SEC or any other governmental agency or court for   any reason not attributable to the Investor or their Affiliates (other than the Company and its   controlled Affiliates) and such interference is not thereafter eliminated so as to permit the   completion of the contemplated distribution of Registrable Shares or (ii) in the case of an   underwritten offering, the conditions specified in the related underwriting agreement, if any, are  not satisfied or waived for any reason not attributable to the Investor or their Affiliates (other than  the Company and its controlled Affiliates), and as a result of any such circumstances described in  clause (i) or (ii), less than 75% of the Registrable Shares covered by the Registration Statement   are sold by the Investor(s) pursuant to such Registration Statement.          Section 3. Piggyback Registrations.                (a)   Right to Piggyback. Whenever prior to the applicable Termination Date the   Company proposes to register any Shares under the Securities Act (other than on a registration   statement on Form S-8, F-8, S-4 or F-4), whether for its own account or for the account of one or   more holders of Shares (other than the Investors), and the form of registration statement to be used   may be used for any registration of Registrable Shares (a “Piggyback Registration”), the Company   shall give written notice to each Investor of its intention to effect such a registration and, subject   to Sections 3(c) and 3(d), shall include in such registration statement and in any offering of Shares   to be made pursuant to that registration statement all Registrable Shares with respect to which the   Company has received a written request for inclusion therein from an Investor within 10 days after   such Investor’s receipt of the Company’s notice or, in the case of a primary offering, such shorter   time as is reasonably specified by the Company in light of the circumstances (provided that only  Registrable Shares of the same class or classes as the Shares being registered may be included).  The Company shall have no obligation to proceed with any Piggyback Registration and may  abandon, terminate and/or withdraw such registration for any reason at any time prior to the pricing   thereof. If the Company or any other Person other than an Investor proposes to sell Shares in an   underwritten offering pursuant to a registration statement on Form S-3 under the Securities Act,   such offering shall be treated as a primary or secondary underwritten offering pursuant to a   Piggyback Registration.                 (b)   Block Trades: Notwithstanding the foregoing, the Piggyback Registration   Rights described in Section 3.1(a) shall not apply to any Block Trades undertaken by the Company   on behalf of itself or any other stockholders.                (c)   Priority on Primary Piggyback Registrations. If a Piggyback Registration is   initiated as a primary underwritten offering on behalf of the Company and the managing   underwriters advise the Company and any Investors (if such Investors have elected to include   Registrable Shares in such Piggyback Registration) that in their opinion the number of Shares   proposed to be included in such offering exceeds the number of Shares (of any class) which can   be sold in such offering without adverse effect on the price, timing or distribution of the Shares to                                          7    

 

     be so included, then there shall be included in such offering the number or dollar amount of Shares   that in the good faith opinion of such managing underwriters can be sold without so adversely   affecting such offering, and such number of Shares shall be allocated for inclusion as follows:   (i)   first, the number of Shares that the Company proposes to sell, (ii) second, the number of Shares   requested to be included therein by any Investors (if such Investors have elected to include   Registrable Shares in such Piggyback Registration), pro rata among all such Investor on the basis   of the number of Shares requested to be included therein by all such Investors, and (iii) third, the   number of Shares requested to be included therein by all other holders of Shares, pro rata among   all such holders on the basis of the number of Shares requested to be included therein by all such   holders or as such holders and the Company may otherwise agree (with allocations among different   classes of Shares, if more than one are involved, to be determined by the Company).                (d)   Priority on Secondary Piggyback Registrations. If a Piggyback Registration   is initiated as an underwritten registration on behalf of a holder of Shares other than the Investors,   and the managing underwriters advise the Company that in their opinion the number of Shares   proposed to be included in such registration exceeds the number of Shares (of any class) which   can be sold in such offering without adverse effect on the price, timing or distribution of the Shares   to be so included, then there shall be included in such offering the number or dollar amount of   Shares that in the good faith opinion of such managing underwriters can be sold without so   adversely affecting such offering, and such number of Shares shall be allocated for inclusion as   follows:  (i) first, the number of Shares requested to be included therein by the holder(s) requesting  such registration, (ii) second, the number of Shares requested to be included therein by other  holders of Shares including any Investors (if such Investors have elected to include Registrable  Shares in such Piggyback Registration), pro rata among all such Investor on the basis of the number  of Shares requested to be included therein by all such Investors, and (iii) third, the number of  Shares that the Company proposes to sell, pro rata among such holders on the basis of the number  of Shares requested to be included therein by such holders or as such holders and the Company  may otherwise agree (with allocations among different classes of Shares, if more than one are  involved, to be determined by the Company).               (e)   Selection of Underwriters. If any Piggyback Registration is a primary or   secondary underwritten offering, the Company shall have the right to select the managing   underwriter or underwriters to administer any such offering.                (f)   Basis of Participations. No Investor may sell Registrable Shares in any   offering pursuant to a Piggyback Registration unless it (a) agrees to sell such Shares on the same   basis provided in the underwriting or other distribution arrangements approved by the Company   and that apply to the Company and/or any other holders involved in such Piggyback Registration   and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting   agreements, lockups and other documents required under the terms of such arrangements.         Section 4. S-3 Shelf Registration.                (a)   Shelf Registration. Subject to the provisions hereof, the Company shall, as   promptly as reasonably practicable, but no later than September 19, 2020, (i) file (if permitted to  do so under the Securities Act and the rules and regulations thereunder) a Registration Statement  on Form S-3 (or an amendment or supplement to an existing registration statement on Form S-3,                                          8    

 

     a ”S-3 Shelf Registration Statement”) for a public offering of all or such portion of the Registrable   Shares designated by any Investor pursuant to Rule 415 promulgated under the Securities Act or   otherwise (an “S-3 Shelf Registration”) and (ii) if necessary, cause such S-3 Shelf Registration   Statement to become effective as soon as practical thereafter. If permitted under the Securities Act,  such S-3 Shelf Registration Statement shall be one that is automatically effective upon filing.               (b)   Right to Effect Shelf Takedowns. An Investor or group of Investors shall be   entitled, at any time and from time to time when an S-3 Shelf Registration Statement is effective   and until the Termination Date, to sell such Registrable Shares as are then registered pursuant to   such Registration Statement (each, a “Shelf Takedown”), but only upon not less than five business   days’ prior written notice to the Company (if such takedown is to be underwritten). An Investor  shall be entitled to request that a Shelf Takedown be an underwritten offering; provided, however,   that (based on the then-current market prices) the number of Registrable Shares included in each   such underwritten Shelf Takedown would reasonably be expected to yield gross proceeds to such   Investor(s) of at least the Minimum Amount, and provided further that such Investor(s) shall not  be entitled to request any underwritten Shelf Takedown (i) within three months after any Investor   has sold Shares in an underwritten offering effected pursuant to (x) a Demand Registration or (y)  an S-3 Shelf Registration, (ii) within three months after any primary or secondary offering of  Shares by the Company, including a Block Trade or (iii) at any time when the Company is  diligently pursuing (x) a primary or secondary underwritten offering of Shares pursuant to a  registration statement (but only if the Investors are provided their piggyback rights, if any, in  accordance with Sections 3(a) and 3(c)) or (y) a Block Trade. Each Investor shall give the   Company prompt written notice of the consummation of each Shelf Takedown (whether or not   underwritten).                (c)   Priority on Underwritten Shelf Takedowns. The Company may include   Shares other than Registrable Shares in an underwritten Shelf Takedown for any accounts on the   terms provided below, but only with the consent of the managing underwriters of such offering   and whichever of the Investors that has requested such Shelf Takedown (such consent not to be   unreasonably withheld). If the managing underwriters of the requested underwritten Shelf   Takedown advise the Company and the requesting Investors that in their opinion the number of   Shares proposed to be included in the underwritten Shelf Takedown exceeds the number of Shares   which can be sold in such offering without materially delaying or jeopardizing the success of the   offering (including the price per share of the Shares proposed to be sold in such offering), the   Company shall include in such underwritten Shelf Takedown (i) first, the number of Shares that   the requesting Investor(s) proposes to sell, and (ii) second, the number of Shares proposed to be   included therein by any other Persons (including Shares to be sold for the account of the Company)   allocated among such Persons in such manner as the Company may determine. If the number of   Shares which can be sold is less than the number of Registrable Shares proposed to be included in   the underwritten Shelf Takedown pursuant to clause (i) above, the amount of Shares to be so sold   shall be allocated to requesting Investor(s). The provisions of this paragraph (b) apply only to a   Shelf Takedown that an Investor has requested be an underwritten offering.                (d)   Selection of Underwriters. If any of the Registrable Shares are to be sold in   an underwritten Shelf Takedown initiated by an Investor, the Company shall have the right to   select the managing underwriter or underwriters to lead the offering.                                          9    

 

                 (e)   Effective Period of S-3 Shelf Registrations. The Company shall, subject to   the other applicable provisions of this Agreement, use reasonable best efforts to cause any S-3   Shelf Registration Statement to be continuously effective and usable until such time as there are   no longer any Registrable Shares. Notwithstanding the foregoing, the Company shall not be   obligated to keep any such registration statement effective, or to permit Registrable Shares to be   registered, offered or sold thereunder, at any time on or after the Termination Date.          Section 5. Suspension Periods.                (a)   Suspension Periods. The Company may (i) delay the filing or effectiveness   of a Registration Statement in conjunction with a Demand Registration or an S-3 Shelf Registration   or require the Investor(s) to suspend any offerings or sales of Registrable Shares pursuant thereto   or (ii) prior to the pricing of any underwritten offering or other offering of Registrable Shares   pursuant to a Demand Registration or an S-3 Shelf Registration, delay such underwritten or other   offering (and, if it so chooses, withdraw any registration statement that has been filed), but in each  case described in clauses (i) and (ii) only if the Company’s board of directors determines in its  reasonable discretion, based on written advice of counsel (x) that proceeding with such an offering   would require the Company to disclose material information that would not otherwise be required  to be disclosed at that time and that the disclosure of such information at that time would be   materially harmful to the Company, or (y) that the registration or offering to be delayed would, if   not delayed, materially adversely affect the Company and its subsidiaries taken as a whole or   materially interfere with, or jeopardize the success of, any pending or proposed material   transaction, including, any material debt or equity financing, any material acquisition or   disposition, or any recapitalization or reorganization of the Company. Any period during which   the Company has delayed a filing, an effective date or an offering pursuant to this Section 5 is   herein called a “Suspension Period”. If pursuant to this Section 5 the Company delays or   withdraws a Demand Registration requested by an Investor, the requesting Investor(s) shall be  entitled to withdraw such request and, if they do so, such request shall not count against the  limitation on the number of such registrations set forth in Section 2. The Company shall provide   prompt written notice to the Investors of the commencement and termination of any Suspension   Period (and any withdrawal of a registration statement pursuant to this Section 5), the reasons for   such Suspension Period and an approximation of the anticipated length of such Suspension Period,   but shall not be obligated under this Agreement to disclose the reasons therefor. The Investors   shall keep the existence of each Suspension Period confidential and refrain from making offers  and sales of Registrable Shares (and direct any other Persons making such offers and sales to  refrain from doing so) during each Suspension Period. In no event (i) may the Company deliver  notice of a Suspension Period to the Investors more than three times in any calendar year and (ii)  shall a Suspension Period or Suspension Periods be in effect for an aggregate of 180 days or more  in any calendar year.               (b)   Other Lockups. Notwithstanding any other provision of this Agreement, the   Company shall not be obligated to take any action hereunder that would violate any lockup or   similar restriction in existence on the date hereof and binding on the Company in connection with   a prior or pending registration or underwritten offering.                                           10    

 

                 (c)   Warrant Restrictions. Nothing in this Agreement shall affect the restrictions   on transfers of Shares and other provisions of a Warrant, which shall apply independently hereof   in accordance with the terms thereof.          Section 6. [Reserved].          Section 7. Registration Procedures.                (a)   In connection with the S-3 Shelf Registration Statement provided for in  Section 4(a) and whenever an Investor requests that any Registrable Shares be registered pursuant   to this Agreement, the Company shall use reasonable best efforts to effect, as soon as practical as   provided herein, the registration and the sale of such Registrable Shares in accordance with the   intended methods of disposition thereof, and, pursuant thereto, the Company shall, as soon as   practical as provided herein:                    (i)     subject to the other provisions of this Agreement, use reasonable         best efforts to prepare and file with the SEC a Registration Statement with respect to such         Registrable Shares and cause such Registration Statement to become effective (unless it is         automatically effective upon filing);                   (ii)     use reasonable best efforts to prepare and file with the SEC such         amendments and supplements to such Registration Statement and the Prospectus used in         connection therewith as may be necessary to comply with the applicable requirements of         the Securities Act and to keep such Registration Statement effective for the relevant period         required hereunder, but no longer than is necessary to complete the distribution of the         Registrable Shares covered by such Registration Statement, and to comply with the         applicable requirements of the Securities Act with respect to the disposition of all the         Registrable Shares covered by such Registration Statement during such period in         accordance with the intended methods of disposition set forth in such Registration         Statement;                   (iii)    use reasonable best efforts to obtain the withdrawal of any order         suspending the effectiveness of any Registration Statement, or the lifting of any suspension         of the qualification or exemption from qualification of any Registrable Shares for sale in         any jurisdiction in the United States;                   (iv)     deliver, without charge, such number of copies of the preliminary         and final Prospectus and any supplement thereto to each participating Investor may         reasonably request in order to facilitate the disposition of the Registrable Shares of such         Investor covered by such Registration Statement in conformity with the requirements of         the Securities Act;                   (v)      use reasonable best efforts to register or qualify such Registrable         Shares under such other securities or blue sky laws of such U.S. jurisdictions as any         participating Investor reasonably requests and continue such registration or qualification         in effect in such jurisdictions for as long as the applicable Registration Statement may be         required to be kept effective under this Agreement (provided that the Company will not be         required to qualify generally to do business in any jurisdiction where it would not otherwise                                         11    

 

                 be required to (I) qualify but for this subparagraph (v), (II) subject itself to taxation in any   such jurisdiction or (III) consent to general service of process in any such jurisdiction);             (vi)     notify each participating Investor and each distributor of such   Registrable Shares identified by such Investor, at any time when a Prospectus relating   thereto would be required under the Securities Act to be delivered by such distributor, of   the occurrence of any event as a result of which the Prospectus included in such   Registration Statement contains an untrue statement of a material fact or omits a material   fact necessary to make the statements therein, in light of the circumstances under which   they were made, not misleading, and, at the request of such Investor, the Company shall   use reasonable best efforts to prepare, as soon as practical, a supplement or amendment to   such Prospectus so that, as thereafter delivered to any prospective purchasers of such   Registrable Shares, such Prospectus shall not contain an untrue statement of a material fact   or omit to state any material fact necessary to make the statements therein, in light of the  circumstances under which they were made, not misleading;            (vii)    in the case of an underwritten offering in which an Investor  participates pursuant to a Demand Registration, a Piggyback Registration or an S-3 Shelf  Registration, enter into an underwriting agreement in customary form (including  provisions for indemnification, lockups, opinions of counsel and comfort letters) and such  other documents reasonably required under the terms of such underwriting arrangement,  and take all such other customary and reasonable actions as the managing underwriters of  such offering may request in order to facilitate the disposition of such Registrable Shares   (including, making members of senior management of the Company available at   reasonable times and places to participate in “road-shows” that the managing underwriter   determines are necessary to effect the offering);            (viii)    in the case of an underwritten offering in which an Investor  participates pursuant to a Demand Registration, a Piggyback Registration or an S-3 Shelf  Registration, and to the extent not prohibited by applicable law, (A) make reasonably   available, for inspection by the managing underwriters of such offering and any counsel or   accountants acting for such managing underwriters, pertinent corporate documents and  financial and other records of the Company and its subsidiaries and controlled Affiliates,  (B) cause the Company’s and its subsidiary’s officers, directors and employees to supply  information and participate in customary due diligence sessions in each case reasonably  requested by such managing underwriters, counsel or accountants in connection with such  offering, (C) make the Company’s independent accountants available for any such  managing underwriters’ due diligence and have them provide customary comfort letters to  such underwriters in connection therewith; and (D) cause the Company’s counsel to furnish  customary legal opinion and a “negative assurance letter” to such underwriters in  connection therewith; provided, however, that such records and other information shall be  subject to such confidential treatment as is customary for underwriters’ due diligence  reviews;             (ix)    use reasonable best efforts to cause all such Registrable Shares to be  listed on each primary securities exchange (if any) on which securities of the same class  issued by the Company are then listed;                                    12                

 

                          (x)     provide a transfer agent and registrar for all such Registrable Shares   not later than the effective date of such Registration Statement and, a reasonable time   before any proposed sale of Registrable Shares pursuant to a Registration Statement,   provide the transfer agent if reasonably required by the transfer agent, an opinion of counsel  as to the effectiveness of the Registration Statement, together with any other authorizations,  certificates and directions required by the transfer agent which authorize and direct the  transfer agent to issue such Registrable Shares without legend upon sale by the holder of  such shares of Registrable Shares under the Registration Statement and with printed  certificates for the Registrable Shares to be sold, subject to the provisions of Section 10;             (xi)     make generally available to its shareholders a consolidated earnings   statement (which need not be audited) for a period of 12 months beginning after the   effective date of the Registration Statement as soon as reasonably practicable after the end   of such period, which earnings statement shall satisfy the requirements of an earning   statement under Section 11(a) of the Securities Act and Rule 158 thereunder;            (xii)     cooperate with the Investors and each underwriter or agent   participating in the disposition of Registrable Shares and their respective counsel in   connection with any filings required to be made with FINRA; and            (xiii)    promptly notify each participating Investor, as applicable, and the   managing underwriters of any underwritten offering, if any:                         (1)      when the Registration Statement, any pre-effective         amendment, the Prospectus or any Prospectus supplement or any post-effective         amendment to the Registration Statement has been filed and, with respect to the         Registration Statement or any post-effective amendment, when the same has         become effective;                         (2)      of any request by the SEC for amendments or         supplements to the Registration Statement or the Prospectus or for any additional         information regarding such Investor;                         (3)      of the notification to the Company by the SEC of its         initiation of any proceeding with respect to the issuance by the SEC of any stop         order suspending the effectiveness of the Registration Statement;                          (4)      if at any time the Company has reason to believe that         the representations and warranties of the Company or any of its subsidiaries         contained in any agreement relating to such offering (including any underwriting         agreement contemplated by Section 7(a)(vii) above) cease to be true and correct;         and                         (5)      of the receipt by the Company of any notification         with respect to the suspension of the qualification of any Registrable Shares for sale         under the applicable securities or blue sky laws of any jurisdiction.                                     13                

 

           For the avoidance of doubt, the provisions of clauses (vi), (viii), (xi) and (xiii) of this   Section 7(a) shall apply only in respect of an underwritten offering and only if (based on market   prices at the time the offering is requested by such Investor(s) the number of Registrable Shares to   be sold in the offering would reasonably be expected to yield gross proceeds to such Investor(s)   of at least the Minimum Amount.                (b)   No Registration Statement (including any amendments thereto) shall   contain any untrue statement of a material fact or omit to state a material fact required to be stated   therein, or necessary to make the statements therein not misleading, and no Prospectus (including   any supplements thereto) shall contain any untrue statement of a material fact or omit to state a   material fact necessary to make the statements therein, in light of the circumstances under which   they were made, not misleading, in each case, except for any untrue statement or alleged untrue   statement of a material fact or omission or alleged omission of a material fact made in reliance on   and in conformity with written information furnished to the Company by or on behalf of an   Investor, any selling securityholder or any underwriter or other distributor specifically for use   therein.                (c)   At all times after the Company has filed a registration statement with the   SEC pursuant to the requirements of the Securities Act and until the Termination Date, the   Company shall use reasonable best efforts to continuously maintain in effect the registration of  Common Stock under Section 12 of the Exchange Act and to use reasonable best efforts to file all  reports required to be filed by it under the Securities Act and the Exchange Act and the rules and  regulations adopted by the SEC thereunder, all to the extent required to enable each applicable  Investor to be eligible to sell Registrable Shares (if any) pursuant to Rule 144 under the Securities  Act.               (d)   The Company may require each applicable Investor and each distributor of  Registrable Shares as to which any registration is being effected to furnish to the Company  information regarding such Person and the distribution of such securities as the Company may  from time to time reasonably request in connection with such registration.               (e)   Each Investor agrees by having its shares of Common Stock treated as  Registrable Shares hereunder that, upon being advised in writing by the Company of the  occurrence of an event pursuant to Section 7(a)(vi), such Investor will immediately discontinue   (and direct any other Persons making offers and sales of Registrable Shares to immediately   discontinue) offers and sales of Registrable Shares pursuant to any Registration Statement (other   than those pursuant to a plan that is in effect prior to such time and that complies with Rule 10b5-  1 under the Exchange Act) until it is advised in writing by the Company that the use of the   Prospectus may be resumed and is furnished with a supplemented or amended Prospectus as   contemplated by Section 7(a)(vi), and, if so directed by the Company, each Investor will deliver   to the Company all copies (at the Company’s expense), other than permanent file copies then in   each Investor’s possession, of the Prospectus covering such Registrable Shares current at the time  of receipt of such notice.               (f)   The Company may prepare and deliver a free writing prospectus (as such   term is defined in Rule 405 under the Securities Act) in lieu of any supplement to a Prospectus,   and references herein to any “supplement” to a Prospectus shall include any such free writing                                          14    

 

     prospectus. No Investor nor any other seller of Registrable Shares may use a free writing   prospectus to offer or sell any such shares without the Company’s prior written consent.                (g)   It is understood and agreed that any failure of the Company to file a   registration statement or any amendment or supplement thereto or to cause any such document to   become or remain effective or usable within or for any particular period of time as provided in   Section 2, 4 or 7 or otherwise in this Agreement, due to reasons that are not reasonably within its   control, or due to any refusal of the SEC to permit a registration statement or prospectus to become   or remain effective or to be used because of unresolved SEC comments thereon (or on any   documents incorporated therein by reference) despite the Company’s good faith and reasonable   best efforts to resolve those comments, shall not be a breach of this Agreement.                (h)   It is further understood and agreed that the Company shall not have any   obligations under this Section 7 at any time on or after the Termination Date, unless an   underwritten offering in which an Investor participates has been priced but not completed prior to   the Termination Date, in which event the Company’s obligations under this Section 7 shall   continue with respect to such offering until it is so completed (but not more than 60 days after the   commencement of the offering).                (i)   Notwithstanding anything to the contrary in this Agreement, the Company   shall not be required to file a Registration Statement or include Registrable Shares in a Registration   Statement unless it has received from an Investor, at least three business days prior to the   anticipated filing date of the Registration Statement, reasonably requested information required to   be included in such Registration Statement and to be provided by such Investor for inclusion  therein.         Section 8. Registration Expenses.                (a)   All expenses incident to the Company’s performance of or compliance with   this Agreement, including all registration and filing fees, fees and expenses of compliance with   securities or blue sky laws, FINRA fees, listing application fees, printing expenses, transfer agent’s   and registrar’s fees, cost of distributing Prospectuses in preliminary and final form as well as any   supplements thereto, and fees and disbursements of counsel for the Company and all independent   certified public accountants and other Persons retained by the Company (all such expenses being   herein called “Registration Expenses”) (but not including any underwriting discounts or   commissions attributable to the sale of Registrable Shares by the Investor or fees and expenses of   counsel and any other advisor representing any underwriters or other distributors), shall be borne   by the Company. Each Investor shall bear the cost of all underwriting discounts and commissions   associated with any sale of Registrable Shares, pro rata based on the number of Registrable Shares   being sold by that Investor, and shall pay its own costs and expenses, including all fees and   expenses of any counsel (and any other advisers) representing such Investor and any stock transfer   taxes.                (b)   The obligation of the Company to bear the expenses described in   Section 8(a) shall apply irrespective of whether a registration, once properly demanded or   requested becomes effective or is withdrawn or suspended; provided, however, that Registration   Expenses for any Registration Statement withdrawn solely at the request of one or more Investors                                          15    

 

   (unless withdrawn following commencement of a Suspension Period pursuant to Section 5) shall  be borne by such Investor(s), unless such Investor(s) elects to have such withdrawn Registration  Statement count against the limit on the number of such registrations set forth herein.         Section 9. Indemnification.               (a)   The Company shall indemnify, to the fullest extent permitted by law, the  Investors and each Person who controls the Investors (within the meaning of the Securities Act)  against all losses, claims, damages, liabilities, judgments, costs (including reasonable and  documented costs of investigation) and expenses (including reasonable and documented attorneys’  fees) arising out of or based upon any untrue or alleged untrue statement of a material fact  contained in any Registration Statement or Prospectus or any amendment thereof or supplement  thereto or arising out of or based upon any omission or alleged omission of a material fact required  to be stated therein or necessary to make the statements therein not misleading, except insofar as  the same are made in reliance and in conformity with information furnished in writing to the  Company by the Investors or to the Company by any participating underwriter in each case  expressly for use therein. In connection with an underwritten offering in which any Investor  participates conducted pursuant to a registration effected hereunder, the Company shall enter into  the underwriting agreement contemplated by Section 7(a)(vii) containing customary  indemnification provisions and otherwise indemnify each participating underwriter and each  Person who controls such underwriter (within the meaning of the Securities Act) to the same extent  as provided above with respect to the indemnification of such Investor(s).               (b)   In connection with any Registration Statement in which an Investor is  participating, such Investor shall furnish to the Company in writing such information as the  Company reasonably requests for use in connection with any such Registration Statement or  Prospectus, or amendment or supplement thereto, and shall indemnify, severally and not jointly,  to the fullest extent permitted by law, (i) the Company, its officers and directors and each Person  who controls the Company (within the meaning of the Securities Act) and (ii) each participating  underwriter, if any, and each Person who controls such underwriter (within the meaning of the  Securities Act) against all losses, claims, damages, liabilities, judgments, costs (including  reasonable and documented costs of investigation) and expenses (including reasonable and  documented attorneys’ fees) arising out of or based upon any untrue or alleged untrue statement  of material fact contained in the Registration Statement or Prospectus, or any amendment or  supplement thereto, or arising out of or based upon any omission or alleged omission of a material  fact required to be stated therein or necessary to make the statements therein not misleading, but  only to the extent that the same are made in reliance and in conformity with information furnished  in writing to the Company by or on behalf of such Investor expressly for use therein.               (c)   Any Person entitled to indemnification hereunder shall (i) give prompt  written notice to the indemnifying Person of any claim with respect to which it seeks  indemnification and (ii) permit such indemnifying Person to assume the defense of such claim  with counsel reasonably satisfactory to the indemnified Person. Failure so to notify the  indemnifying Person shall not relieve it from any liability that it may have to an indemnified Person  except to the extent that the indemnifying Person is materially and adversely prejudiced thereby.  The indemnifying Person shall not be subject to any liability for any settlement made by the  indemnified Person without its consent. An indemnifying Person who is entitled to, and elects to,                                         16   

 

     assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one   counsel (in addition to one local counsel in each jurisdiction) for all Persons indemnified   (hereunder or otherwise) by such indemnifying Person with respect to such claim (and all other   claims arising out of the same circumstances), unless in the reasonable judgment of any   indemnified Person there may be one or more legal or equitable defenses available to such   indemnified Person which are in addition to or may conflict with those available to another   indemnified Person with respect to such claim, in which case such maximum number of counsel   for all indemnified Persons shall be two rather than one). If an indemnifying Person is entitled to,  and elects to, assume the defense of a claim, the indemnified Person shall continue to be entitled  to participate in the defense thereof, with counsel of its own choice, but, except as set forth above,  the indemnifying Person shall not be obligated to reimburse the indemnified Person for the costs  thereof. The indemnifying Person shall not consent to the entry of any judgment or enter into or  agree to any settlement relating to a claim or action for which any indemnified Person would be  entitled to indemnification by any indemnified Person hereunder unless such judgment or  settlement imposes no ongoing obligations on any such indemnified Person and includes as an  unconditional term the giving, by all relevant claimants and plaintiffs to such indemnified Person,  a release, satisfactory in form and substance to such indemnified Person, from all liabilities in  respect of such claim or action for which such indemnified Person would be entitled to such  indemnification. The indemnifying Person shall not be liable hereunder for any amount paid or  payable or incurred pursuant to or in connection with any judgment entered or settlement effected  with the consent of an indemnified Person unless the indemnifying Person has also consented to  such judgment or settlement.               (d)   The indemnification provided for under this Agreement shall remain in full  force and effect regardless of any investigation made by or on behalf of the indemnified Person or  any officer, director or controlling Person of such indemnified Person and shall survive the transfer  of securities and the applicable Termination Date but only with respect to offers and sales of  Registrable Shares made before the applicable Termination Date or during the period following  the applicable Termination Date referred to in Section 7(g).                (e)   If the indemnification provided for in or pursuant to this Section 9 is due in   accordance with the terms hereof, but is held by a court to be unavailable or unenforceable in  respect of any losses, claims, damages, liabilities or expenses referred to herein, then each  applicable indemnifying Person, in lieu of indemnifying such indemnified Person, shall contribute   to the amount paid or payable by such indemnified Person as a result of such losses, claims,   damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault of   the indemnifying Person on the one hand and of the indemnified Person on the other in connection   with the statements or omissions which result in such losses, claims, damages, liabilities or   expenses as well as any other relevant equitable considerations. The relative fault of the   indemnifying Person on the one hand and of the indemnified Person on the other shall be   determined by reference to, among other things, whether the untrue or alleged untrue statement of   a material fact or the omission or alleged omission to state a material fact relates to information   supplied by the indemnifying Person or by the indemnified Person, and by such Person’s relative  intent, knowledge, access to information and opportunity to correct or prevent such statement or  omission. In no event shall the liability of the indemnifying Person be greater in amount than the   amount for which such indemnifying Person would have been obligated to pay by way of                                          17    

 

     indemnification if the indemnification provided for under Section 9(a) or 9(a) hereof had been   available under the circumstances.          Section 10. Securities Act Restrictions. The Registrable Shares are restricted securities   under the Securities Act and may not be offered or sold except pursuant to an effective   registration statement or an available exemption from registration under the Securities Act.  Accordingly, an Investor shall not, directly or through others, offer or sell any Registrable Shares  except pursuant to a Registration Statement as contemplated herein or pursuant to Rule 144 or  another exemption from registration under the Securities Act, if available. Prior to any transfer of  Registrable Shares other than pursuant to an effective registration statement, an Investor shall  notify the Company of such transfer and the Company may require such Investor to provide,  prior to such transfer, such evidence that the transfer will comply with the Securities Act  (including written representations or an opinion of counsel) as the Company may reasonably  request. The Company may impose stop-transfer instructions with respect to any Registrable  Shares that are to be transferred in contravention of this Agreement. Any certificates representing  the Registrable Shares shall bear a legend (and the Company’s share registry shall bear a  notation) referencing the restrictions on transfer contained in this Agreement, until such time as  such securities have ceased to be (or are to be transferred in a manner that results in their ceasing  to be) Registrable Shares.         Section 11. Transfers of Rights.                (a)   If an Investor transfers any rights to a Permitted Transferee in accordance   with the provisions of a Warrant, such Permitted Transferee shall, together with all other such   Permitted Transferees and the Investors, also have the rights of the Investors under this Agreement,   but only if the Permitted Transferee signs and delivers to the Company a written acknowledgment   (in form and substance satisfactory to the Company) that it has joined with the Investors and the   other Permitted Transferees as a party to this Agreement and has assumed the rights and   obligations of the Investors hereunder with respect to the rights transferred to it by an Investor.   Each such transfer shall be effective when (but only when) the Permitted Transferee has signed   and delivered the written acknowledgment to the Company. Upon any such effective transfer, the   Permitted Transferee shall automatically have the rights so transferred, and the applicable   Investor’s obligations under this Agreement, and the rights not so transferred, shall continue,   provided that under no circumstances shall the Company be required to provide more than four   Demand Registrations. Notwithstanding any other provision of this Agreement, no Person who   acquires securities transferred in violation of this Agreement or a Warrant, or who acquires   securities that are not or upon acquisition cease to be Registrable Shares, shall have any rights   under this Agreement with respect to such securities, and such securities shall not have the benefits   afforded hereunder to Registrable Shares.          Section 12. Miscellaneous.                (a)   Notices. Any notice, request, instruction or other document to be given   hereunder by any party to the other will be in writing and will be deemed to have been duly given   (a) on the date of delivery if delivered personally upon confirmation of receipt, or (b) on the second   business day following the date of dispatch if delivered by a nationally recognized next day courier  service, in each case with a copy sent concurrently by e-mail. All notices hereunder shall be                                          18    

 

     delivered as set forth below, or pursuant to such other instructions as may be designated in writing  by the party to receive such notice. Notices and other communications hereunder may be delivered  or furnished by electronic communication (including e-mail and Internet or intranet websites).  Notices and other communications sent to an e-mail address shall be deemed received upon the  sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt  requested” function, as available, return e-mail or other written acknowledgement); provided that  if such notice or other communication is not sent during the normal business hours of the recipient,  such notice or communication shall be deemed to have been sent at the opening of business on the  next business day for the recipient, and notices or communications posted to an Internet or intranet  website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail  address as described in the foregoing clause of notification that such notice or communication is  available and identifying the website address therefor.               If to the Company:       New Residential Investment Corp.                    1345 Avenue of the Americas, 45th Floor      New York, NY 10105      Attention: Nicola Santoro, Jr.      Telephone: (212) 798-6100      Email:  nsantoro@fortress.com                  With a copy to:         New Residential Investment Corp.                      1345 Avenue of the Americas, 45th Floor      New York, New York 10105      Attention: Jonathan Grebinar      Phone: 2112-798-6100      Email: jgrebinar@fortress.com                   With a copy to:         New Residential Investment Corp.                      1345 Avenue of the Americas, 45th Floor                     New York, New York 10105       Attention: Varun Wadhawan      Phone: 212-798-6100      Email: vwadhawan@fortress.com                                            19    

 

                 With a copy to (which copy alone shall not constitute notice):                     Skadden, Arps, Slate, Meagher and Flom LLP                    One Manhattan West                    New York, New York 10001                    Attention: Michael Zeidel and Michael Schwartz                    E-mail: Michael.Zeidel@skadden.com and                    Michael.Schwartz@skadden.com               If to the Investors:                     See Schedule I hereto.                With a copy to (which copy alone shall not constitute notice):                     Sullivan & Cromwell LLP                    125 Broad Street                    New York, New York 10004                    Attention: Robert W. Downes                    E-mail: Downesr@sullcrom.com                 (b)   No Waivers. No failure or delay by any party in exercising any right, power   or privilege hereunder 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.                (c)   Assignment. Neither this Agreement nor any right, remedy, obligation nor   liability arising hereunder or by reason hereof shall be assignable by any party hereto without the   prior written consent of the other parties, and any attempt to assign any right, remedy, obligation   or liability hereunder without such consent shall be void, except (i) an assignment, in the case of a   merger or consolidation where such party is not the surviving entity, or a sale of substantially all   of its assets, to the entity which is the survivor of such merger or consolidation or the purchaser in   such sale or (ii) an assignment by an Investor to a Permitted Transferee in accordance with the   terms hereof.                (d)   No Third-Party Beneficiaries. Nothing contained in this Agreement,   expressed or implied, is intended to confer upon any person or entity other than the Company and   the Investors (and any Permitted Transferee to which an assignment is made in accordance with  this Agreement), any benefits, rights, or remedies (except as specified in Section 9 hereof).                (e)   Governing Law; Submission to Jurisdiction; Waiver of Jury Trial, Etc.   This Agreement will be governed by and construed in accordance with the laws of the State   of New York applicable to contracts made and to be performed entirely within such State.  Each of the parties hereto agrees (a) to submit to the exclusive personal jurisdiction of the  State or Federal courts in the Borough of Manhattan, The City of New York, (b) that  exclusive jurisdiction and venue shall lie in the State or Federal courts in the State of New                                          20    

 

     York, and (c) that notice may be served upon such party at the address and in the manner   set forth for such party in Section 12(a). To the extent permitted by applicable law, each of   the parties hereto hereby unconditionally waives trial by jury in any legal action or   proceeding arising out of or relating to this Agreement or the transactions contemplated  hereby.               (f)   Counterparts; Effectiveness. This Agreement may be executed in any   number of counterparts (including by e-mail or facsimile) and by different parties hereto in   separate counterparts, with the same effect as if all parties had signed the same document. All such   counterparts shall be deemed an original, shall be construed together and shall constitute one and  the same instrument. This Agreement shall become effective when each party hereto shall have  received counterparts hereof signed by all of the other parties hereto.               (g)   Entire Agreement. This Agreement contains the entire agreement between   the parties hereto with respect to the subject matter hereof and supersedes and replaces all other   prior agreements, written or oral, among the parties hereto with respect to the subject matter hereof.                (h)   Captions. The headings and other captions in this Agreement are for   convenience and reference only and shall not be used in interpreting, construing or enforcing any   provision of this Agreement.                (i)   Severability. If any term, provision, covenant or restriction of this   Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or   unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement   shall remain in full force and effect and shall in no way be affected, impaired or invalidated 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 a determination, the parties 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 be  consummated as originally contemplated to the fullest extent possible.               (j)   Other Registration Rights. The Company agrees that it shall not grant any   registration rights to any third party unless such rights are expressly made subject to the rights of   the Investors in a manner consistent with this Agreement.                (k)   Amendments. The provisions of this Agreement, including the provisions   of this sentence, may not be amended, modified or supplemented, and waivers or consents to  departures from the provisions hereof may not be given without the prior written consent of the   Company and Investors representing at least 50% (by number) of the Registrable Shares (with   each shares of Common Stock to be received upon exercise of a Warrant counting as one   Registrable Share for this purpose).                                                               [Execution Page Follows]                                          21    

 

         IN WITNESS WHEREOF, this Registration Rights Agreement has been duly executed by  each of the parties hereto as of the date first written above.                                    NEW RESIDENTIAL INVESTMENT CORP.                                    By: /s/ Nicola Santoro, Jr.                                    Name: Nicola Santoro, Jr.                                   Title: Chief Financial Officer     

 

          IN WITNESS WHEREOF, this Registration Rights Agreement has been duly executed  by each of the parties hereto as of the date first written above.                                    CF NRS-E LLC                                    By: /s/ Jennifer Sorkin                                     Name: Jennifer Sorkin                                   Title: Treasurer                                         

 

         IN WITNESS WHEREOF, this Registration Rights Agreement has been duly executed  by each of the parties hereto as of the date first written above.                                           CANYON FINANCE (CAYMAN) LIMITED                                   THE CANYON VALUE REALIZATION                                        MASTER FUND-X, L.P.                                   CANYON VALUE REALIZATION FUND, L.P.                                   CBFVEST HOLDINGS LTD.                                   GRFVEST HOLDINGS LTD.                                   CANYON IC CREDIT MASTER FUND L.P.                                   CANYON DISTRESSED OPPORTUNITY                                        MASTER FUND III, L.P.,                                   CANYON NZ-DOF INVESTING, L.P.                                   CANYON DISTRESSED TX (A) LLC                                   CANYON DISTRESSED TX (B) LLC                                   CANYON-EDOF (MASTER) L.P.,                                    EP CANYON LTD                                                                      By: Canyon Capital Advisors, LLC, the Investment                                        Advisor to each of the above listed funds                                                                      By: /s/ Jonathan M. Kaplan                                         Name: Jonathan M. Kaplan                                        Title: Authorized Signatory                                                                      CANYON BLUE CREDIT INVESTMENT FUND                                        L.P.                                                                       By: Canyon Capital Advisors, LLC, its Co-Investment                                         Advisor                                    By: /s/ Jonathan M. Kaplan                                    Name: Jonathan M. Kaplan                                   Title: Authorized Signatory                                    By: Canyon Partners Real Estate LLC, its Co-                                        Investment Advisor                                    By: /s/ Jonathan M. Kaplan                                    Name: Jonathan M. Kaplan                                   Title: Authorized Signatory    

 

                                                                          Schedule I                                     INVESTORS    1.    Canyon Finance (Cayman) Limited    2.    The Canyon Value Realization Master Fund-X, L.P.    3.    Canyon Value Realization Fund, L.P.    4.    CBFVEST Holdings LTD.    5.    GRFVEST Holdings LTD.    6.    Canyon IC Credit Master Fund L.P.    7.    Canyon Distressed Opportunity Master Fund III, L.P.,   8.    Canyon NZ-DOF Investing, L.P.   9.    Canyon Distressed TX (A) LLC   10.   Canyon Distressed TX (B) LLC   11.   Canyon-EDOF (Master) L.P.,   12.   Canyon Blue Credit Investment Fund L.P.    13.   EP Canyon LTD    14.   CF NRS UST LLC

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