Document:

Exhibit 10.23

 

COMMITMENT INCREASE AGREEMENT

 

November 8, 2018

 

JPMorgan Chase Bank, N.A.,
as

Administrative Agent for the Lenders

party to the Credit Agreement referred

to below (the “Administrative Agent”)

500 Stanton Christiana Road,
NCC5/Floor 1

Newark, DE 19713

 

Ladies and Gentlemen:

 

We refer to the Senior Secured Revolving Credit
Agreement dated as of August 9, 2018 (as amended, modified or supplemented from time to time, the “Credit Agreement”;
the terms defined therein being used herein as therein defined) between Corporate Capital Trust, Inc. (“CCT”),
FS Investment Corporation (“FSIC”), FS Investment Corporation II (“FSIC II”), FS Investment
Corporation III (“FSIC III”, and together with CCT, FSIC and FSIC II, the “Borrowers”), the
Lenders party thereto, ING Capital LLC, as Collateral Agent, and JPMorgan Chase Bank, N.A., as Administrative Agent for said
Lenders. You have advised us that FSIC (the “Relevant Borrower”) has requested in a letter dated November 8,
2018 (the “Increase Request”) from the Relevant Borrower to the Administrative Agent that the aggregate amount
of the Commitments be increased on the terms and subject to the conditions set forth herein.

 

A. Commitment Increase. Pursuant to
Section 2.07(e) of the Credit Agreement, BNP Paribas (the “Assuming Lender”), hereby agrees to make Loans
in the amount set forth opposite the name of the Assuming Lender listed in Schedule I hereto pursuant to the instruction of the
Administrative Agent, such Loans to be effective as of the Increase Date (as defined in the Increase Request); provided that the
Administrative Agent shall have received a duly executed officer’s certificate from the Relevant Borrower, dated the Increase
Date, in substantially the form of Exhibit I hereto.

 

B. Confirmation of Assuming Lender.
The Assuming Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with
copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance
upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; and (iii) acknowledges
and agrees that, from and after the Increase Date, the Commitment Increase set forth opposite the name of the Assuming Lender listed
in Schedule I hereto shall be included in the Commitment, and the Commitment Increase shall be governed for all purposes by the
Credit Agreement and the other Loan Documents.

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	BNP PARIBAS
	 	 	 
	 	By:	/s/ Liza Shabetayer 
	 	 	Name: Liza Shabetayer
	 	 	Title: Director
	 	 	 
	 	By:	/s/ Marguerite L. Lebon 
	 	 	Name: Marguerite L. Lebon
	 	 	Title: Vice President

 

     

     

    

 

	Accepted and agreed:	 
	 	 
	CORPORATE CAPITAL TRUST, INC.	 
	 	 	 
	By:	/s/ Ryan Wilson	 
	 	Name: Ryan Wilson	 
	 	Title: Chief Operating Officer	 

 

     

     

    

 

	FS INVESTMENT CORPORATION	 
	 	 	 
	By:	/s/ William Goebel	 
	 	Name: William Goebel	 
	 	Title: Chief Financial Officer	 

 

     

     

    

 

	FS INVESTMENT CORPORATION II	 
	 	 	 
	By:	/s/ William Goebel	 
	 	Name: William Goebel	 
	 	Title: Chief Financial Officer	 

 

     

     

    

 

	FS INVESTMENT CORPORATION III	 
	 	 	 
	By:	/s/ William Goebel	 
	 	Name: William Goebel	 
	 	Title: Chief Financial Officer	 

 

     

     

    

 

	Acknowledged:	 
	JPMORGAN CHASE BANK, N.A.,	 
	as Administrative Agent 	 
	 	 	 
	By:	/s/ Alfred Chi	 
	 	Name: Alfred Chi	 
	 	Title: Vice President	 

 

     

     

    

 

	Acknowledged:	 
	JPMORGAN CHASE BANK, N.A.,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Alfred Chi	 
	 	Name: Alfred Chi	 
	 	Title: Vice President	 

 

     

     

    

 

	Acknowledged:	 
	BANK OF MONTREAL,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Brian L. Banke 	 
	 	Name: Brian L. Banke	 
	 	Title: Managing Director	 

 

     

     

    

 

	Acknowledged:	 
	SUNTRUST BANK,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Doug Kennedy	 
	 	Name: Doug Kennedy	 
	 	Title: Director	 

 

     

     

    

 

	Acknowledged:	 
	ING CAPITAL LLC,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Patrick Frisch	 
	 	Name: Patrick Frisch	 
	 	Title: Managing Director	 
	 	 	 
	By:	/s/ Dominik G. Breuer	 
	 	Name: Dominik G. Breuer, CFA	 
	 	Title: Vice President	 

 

     

     

    

 

SCHEDULE I

 

	Assuming Lender	 	Commitment	 
	 	 	 	 
	BNP Paribas	 	$	30,000,000.00Exhibit 10.24

 

COMMITMENT INCREASE AGREEMENT

 

November 8, 2018

 

JPMorgan Chase Bank, N.A.,
as

Administrative Agent for the Lenders

party to the Credit Agreement referred

to below (the “Administrative Agent”)

500 Stanton Christiana Road,
NCC5/Floor 1

Newark, DE 19713

 

Ladies and Gentlemen:

 

We refer to the Senior Secured Revolving Credit
Agreement dated as of August 9, 2018 (as amended, modified or supplemented from time to time, the “Credit Agreement”;
the terms defined therein being used herein as therein defined) between Corporate Capital Trust, Inc. (“CCT”),
FS Investment Corporation (“FSIC”), FS Investment Corporation II (“FSIC II”), FS Investment
Corporation III (“FSIC III”, and together with CCT, FSIC and FSIC II, the “Borrowers”), the
Lenders party thereto, ING Capital LLC, as Collateral Agent, and JPMorgan Chase Bank, N.A., as Administrative Agent for said
Lenders. You have advised us that FSIC (the “Relevant Borrower”) has requested in a letter dated November 8,
2018 (the “Increase Request”) from the Relevant Borrower to the Administrative Agent that the aggregate amount
of the Commitments be increased on the terms and subject to the conditions set forth herein.

 

A. Commitment Increase. Pursuant to
Section 2.07(e) of the Credit Agreement, US Bank National Association (the “Assuming Lender”), hereby agrees
to make Loans in the amount set forth opposite the name of the Assuming Lender listed in Schedule I hereto pursuant to the instruction
of the Administrative Agent, such Loans to be effective as of the Increase Date (as defined in the Increase Request); provided
that the Administrative Agent shall have received a duly executed officer’s certificate from the Relevant Borrower, dated
the Increase Date, in substantially the form of Exhibit I hereto.

 

B. Confirmation of Assuming Lender.
The Assuming Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with
copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance
upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; and (iii) acknowledges
and agrees that, from and after the Increase Date, the Commitment Increase set forth opposite the name of the Assuming Lender listed
in Schedule I hereto shall be included in the Commitment, and the Commitment Increase shall be governed for all purposes by the
Credit Agreement and the other Loan Documents.

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	US BANK NATIONAL ASSOCIATION
	 	 	 
	 	By:	/s/ Barry K. Chung
	 	 	Name: Barry K. Chung
	 	 	Title: Sr. Vice President

 

     

     

    

 

	Accepted and agreed:	 
	 	 
	CORPORATE CAPITAL TRUST, INC.	 
	 	 	 
	By:	/s/ Ryan Wilson	 
	 	Name: Ryan Wilson	 
	 	Title: Chief Operating Officer	 

 

     

     

    

 

	FS INVESTMENT CORPORATION	 
	 	 
	By:	/s/ William Goebel	 
	 	Name: William Goebel	 
	 	Title: Chief Financial Officer	 

 

     

     

    

 

	FS INVESTMENT CORPORATION II	 
	 	 
	By: 	/s/ William Goebel	 
	 	Name: William Goebel	 
	 	Title: Chief Financial Officer	 

 

     

     

    

 

	FS INVESTMENT CORPORATION III	 
	 	 
	By:	/s/ William Goebel	 
	 	Name: William Goebel	 
	 	Title: Chief Financial Officer	 

 

     

     

    

 

	Acknowledged:	 
	JPMORGAN CHASE BANK, N.A.,	 
	as Administrative Agent 	 
	 	 	 
	By:	/s/ Alfred Chi	 
	 	Name: Alfred Chi	 
	 	Title: Vice President	 

 

     

     

    

 

	Acknowledged:	 
	JPMORGAN CHASE BANK, N.A.,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Alfred Chi	 
	 	Name: Alfred Chi	 
	 	Title: Vice President	 

 

     

     

    

 

	Acknowledged:	 
	BANK OF MONTREAL,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Brian L. Banke 	 
	 	Name: Brian L. Banke	 
	 	Title: Managing Director	 

 

     

     

    

 

	Acknowledged:	 
	SUNTRUST BANK,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Doug Kennedy	 
	 	Name: Doug Kennedy	 
	 	Title: Director	 

 

     

     

    

 

	Acknowledged:	 
	ING CAPITAL LLC,	 
	as Issuing Bank	 
	 	 	 
	By:	/s/ Patrick Frisch	 
	 	Name: Patrick Frisch	 
	 	Title: Managing Director	 
	 	 	 
	By:	/s/ Dominik G. Breuer	 
	 	Name: Dominik G. Breuer, CFA	 
	 	Title: Vice President	 

 

     

     

    

 

SCHEDULE I

 

	Assuming Lender	 	Commitment	 
	 	 	 	 
	US Bank National Association	 	$	50,000,000.00EX-10.1

 Exhibit 10.1 
  

							
	
AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT
	 	1. CONTRACT ID CODE  	 	PAGE  	 	OF
	 	 	 	  

    1    
	 	  

    3    

									
	
2. AMENDMENT/MODIFICATION NO.
 141
	 	 3. EFFECTIVE DATE  

10/29/2018
	 	4. REQUISITION/PURCHASE REQ. NO.    	 	5. PROJECT NO. (If applicable) 
	6. ISSUED BY                         
                      CODE  	 	5ACAAQ	 	7. ADMINISTERED BY (IF OTHER THAN ITEM 6)	 	CODE  	 	5ACAAQ
	 DALE D. PARSAN

Cargo Air Acquisitions
 Air Transportation CMC

United States Postal Service
 475 L’Enfant Plaza SW, Room
1P650
 Washington DC 20260-0650
 (202) 268-2223  

 
	 	 Cargo Air Acquisitions

Air Transportation CMC
 United States Postal Service

475 L’Enfant Plaza SW, Room 1P650
 Washington DC
20260-0650

											
	8. NAME AND ADDRESS OF CONTRACTOR (No., Street, County, 
State, and Zip Code)	 	 	 	    (x)      	 	9A. AMENDMENT OF SOLICITATION NO.
	  
 FEDERAL EXPRESS
CORPORATION
	 		 		 		 	 	 	 
	 3610 HACKS CROSS ROAD

MEMPHIS TN 38125-8800
	 		 		 		 	 	 	 9B. DATED (SEE ITEM 11)

 

	 	 	 

    
	 	      x      

 
	 	 10A. MODIFICATION OF CONTRACT/ORDER NO.

ACN-13-FX
  

	 	 	 	 	 	 	 	 		 	10B. DATED (SEE ITEM 13)
	SUPPLIER CODE:      000389122	 	FACILITY CODE                	 	 	 	 	 	04/23/2013
	11. THIS ITEM ONLY APPLIES TO AMENDMENTS OF
SOLICITATIONS     

					
	☐	 		  	    ☐  is extended,        ☐  is not 
extended.

													
	  
 Offers must acknowledge receipt of this amendment prior to
the hour and date specified in the solicitation or as amended, by one of the following methods: (a) By completing items 8 and 15, and returning              copies of the amendment;
(b) By acknowledging receipt of this amendment on each copy of the offer submitted; or (c) By separate letter or telegram which includes a reference to the solicitation and amendment number. FAILURE OF YOUR ACKNOWLEDGEMENT TO BE RECEIVED AT THE
PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by virtue of this amendment you desire to change an offer already submitted, such change may be made by telegram or letter,
provided each telegram or letter makes reference to the solicitation and this amendment, and is received prior to the opening hour and date specified.
  

					
	 12. ACCOUNTING AND
APPROPRIATION DATA (If required.)
 See Schedule
	 	 Net Increase:      [*]
	  	 

			
	 13. THIS ITEM APPLIES ONLY TO
MODIFICATIONS OF CONTRACTS/ORDERS. IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14.
  
	 	 

									
	(x)  	 	A. THIS CHANGE BY CLAUSE IS ISSUED PURSUANT TO: (Specify clause) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.	 		 	 
	☐  	 		 	    	 		 	 
	  

☐  
	 	 B. THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT
THE ADMINISTRATIVE CHANGES (such as changes in paying office, appropriation date, etc.) SET FORTH IN ITEM 14.
  
	 	 	 	 
	  

☐  
	 	 C. THIS SUPPLEMENTAL AGREEMENT IS ENTERED INTO PURSUANT TO THE AUTHORITY OF: THE CHANGES
SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.
  
	 	 	 	 
	☒  	 	 D. OTHER (such as no cost change/cancellation, termination, etc.) (Specify type of
modification and authority): THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.
 Mutual Agreement of the Contracting
Parties
  
	 	 	 	 

			
	  

E. IMPORTANT: Contractor      ☐    is
not,      ☒    is required to sign this document and return         1     copies to the
issuing office.
  
	 	 
	 14. DESCRIPTION OF AMENDMENT/MODIFICATION (Organized by UCF section headings,
including solicitation/contract subject matter where feasible.)
 The purpose of this modification is to execute the following change to the ACN-13-FX
contract:
  
 In accordance with contract ACN-13-FX and the “Fuel Adjustment”
section, the following Line Haul Rate (fuel) for the Day Network as set out in Attachment 10 is modified for performance during the period of October 29, 2018 to November 25, 2018 (Operating Period 62) as follows:

 
 TIERS: Base – Tier 5

From:
 Continued...
	 	 

			
	 Except as provided herein, all terms and conditions of the document referenced in Item
9A or 10A, as heretofore changed, remains unchanged and in full force and effect.
  
	 	 

											
	 15A. NAME AND TITLE OF SIGNER (Type or print)

 
 Ron D. Stevens, Vice President
                                         
               
	 	 16A. NAME
AND TITLE OF CONTRACTING OFFICER (Type or print)
  
     Brian
Mckain

	 15B. CONTRACTOR/OFFEROR

 
 /s/ RON D. STEVENS

(Signature of person authorized to sign) 
	 	 	 	 15C. DATE SIGNED  

 
 12-4-18
	 	 16B. CONTRACT AUTHORITY
  

/s/ BRIAN MCKAIN

(Signature of Contracting Officer) 
	 	 	 	 16C. DATE SIGNED

 
 12/11/18

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. 

															
	 CONTINUATION SHEET
	 	REQUISITION NO.	 	 Page

 
 2
	 	     Of

 
     3
	 	                
  

															
	 CONTRACT/ORDER NO.
  

ACN-13-FX/141
	 	 AWARD/ EFFECTIVE DATE  

 
 10/29/2018
	 	MASTER/AGENCY CONTRACT NO    	 	SOLICITATION NO.                	 	 SOLICITATION           
ISSUE DATE

											
	 	 	 	 	 	 
	
    ITEM NO     
	 	 SCHEDULE OF SUPPLIES/SERVICES

 
	 	 QUANTITY 

 
	 	  UNIT 

 
	 	
    UNIT PRICE    

 
	 	 AMOUNT

 

	 	 	 	 	 	
	 	 	 [*] per cubic foot

To:
 [*] per cubic foot

This is an increase of [*].
  

TIERS: 6 - 8
 TIER 6:

From:
 [*] per cubic foot

To:
 [*] per cubic foot

This is an increase of [*].
  

TIER 7:
 From:

[*] per cubic foot
 To:

[*] per cubic foot
 This is an increase of [*].

 
 TIER 8:

From:
 [*] per cubic foot

To:
 [*] per cubic foot

This is an increase of [*].
  

[*]
  

—
 Sub Rept Req’d: Y Carrier Code: FX Route Termini

S: Various Route Termini End: Various Payment
 Terms: SEE
CONTRACT
 Delivery: 11/28/2016
 Discount Terms:

 
 See Schedule

Accounting Info:
 BFN: 670167

FOB: Destination
 Period of Performance: 09/30/2013 to
09/29/2024
  
 Change Item 1 to read as follows:

 
	 	 	 	 	 	 	 	
	1	 	 Day Network

Account Number: 53503
  

Continued...
  
  

 
	 	 	 	 	 	 	 	    [*]

  

	*	 Blank spaces contained confidential information which has been filed separately with the Securities and Exchange
Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. 

															
	 CONTINUATION SHEET
	 	REQUISITION NO.	 	 PAGE

 
 3
	 	     OF

 
     3
	 	                
  

															
	 CONTRACT/ORDER NO.
  

ACN-13-FX/141
	 	 AWARD/ EFFECTIVE DATE  

 
 10/29/2018
	 	MASTER/AGENCY CONTRACT NO.    	 	SOLICITATION NO.                	 	 SOLICITATION           
ISSUE DATE

											
	 	 	 	 	 	 
	
    ITEM NO     
	 	 SCHEDULE OF SUPPLIES/SERVICES

 
	 	 QUANTITY 

 
	 	  UNIT 

 
	 	
    UNIT PRICE    

 
	 	 AMOUNT

 

	 	 	 	 	 	
	 	 	 This is for estimation purposes only and is not a guarantee of contract value.

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