Document:

EX-10.5

 Exhibit 10.5 

AMENDMENT NO. 2 TO MASTER REPURCHASE AGREEMENT 

AMENDMENT NO. 2 TO MASTER REPURCHASE AGREEMENT, dated as of January 14, 2015 (this “Amendment”), among
PARLEX 4 UK FINCO, LLC and PARLEX 4 FINANCE, LLC (the “Sellers”), and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association (“Buyer”). Other than as specified herein, capitalized terms used but
not otherwise defined herein shall have the meanings given to them in the Repurchase Agreement (as defined below). 
 RECITALS 

WHEREAS, Sellers and Buyer are parties to that certain Master Repurchase Agreement, dated as of December 20, 2013, as
amended by that certain Amendment No. 1 to Master Repurchase Agreement, dated as of June 27, 2014 (the “Repurchase Agreement”); and 

WHEREAS, Seller and Buyer have agreed, subject to the terms and conditions hereof, that the Repurchase Agreement shall be
amended as set forth in this Amendment. 
 NOW THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows: 

SECTION 1. Amendment to Master Repurchase Agreement. The defined term “Maturity Date” is hereby
amended and restated in its entirety to read as follows: 
 “Maturity Date” shall mean January 7,
2018 or the immediately succeeding Business Day, if such day shall not be a Business Day. 
 SECTION 2.
Conditions Precedent. This Amendment shall become effective on the date (the “Amendment Effective Date”) on which this Amendment is executed and delivered by a duly authorized officer of each Seller and Buyer and
acknowledged and agreed by Guarantor. 
 SECTION 3. Representations and Warranties. On and as of the
date first above written, Parlex 4 Finance, LLC, hereby represents and warrants to Buyer with respect to the Repurchase Agreement and the Other Repurchase Agreement, and Parlex 4 UK Finco, LLC hereby represents and warrants to Buyer with respect to
the Repurchase Agreement that (a) it is in compliance with all the terms and provisions set forth in the Repurchase Agreement and the Other Repurchase Agreement, as applicable, on its part to be observed or performed, (b) after giving
effect to this Amendment, no Default or Event of Default under (i) the Repurchase Agreement or (ii) the Other Repurchase Agreement (as such terms are defined in the Other Repurchase Agreement), as applicable, has occurred and is
continuing, (c) after giving effect to this Amendment, the representations and warranties contained in Article 9 of the Repurchase Agreement and the Other Repurchase Agreement, as applicable, are true and correct in all material respects as
though made on such date (except for any such representation or warranty that by its terms refers to a specific date other than the date first above written, in which case it 

 
shall be true and correct in all material respects as of such other date), and (d) no “Termination Event,” “Event of Default” or “Potential Event of Default” or
any similar event by either Seller, however denominated, shall have occurred and be continuing under any Hedging Transaction under (i) the Repurchase Agreement or (ii) the Other Repurchase Agreement (as such term is defined in the Other
Repurchase Agreement), as applicable. 
 SECTION 4. Acknowledgments of Guarantor. Guarantor hereby
acknowledges (a) the execution and delivery of this Amendment, between Buyer and Sellers, and agrees that it continues to be bound by the Guarantee Agreement to the extent of the Obligations (as defined therein), as such obligations may be
modified pursuant to this Amendment, and (b) that, as of the date hereof, Buyer is in compliance with its undertakings and obligations under the Repurchase Agreement, the Guarantee Agreement and each of the other Repurchase Documents. 

SECTION 5. Limited Effect. Except as expressly amended and modified by this Amendment, the Existing
Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its respective terms; provided, however, that upon the Amendment Effective Date, all references in the Repurchase Agreement to the
“Transaction Documents” shall be deemed to include, in any event, this Amendment. Each reference to Repurchase Agreement in any of the Transaction Documents shall be deemed to be a reference to the Repurchase Agreement as amended hereby.

 SECTION 6. Counterparts. This Amendment may be executed in counterparts, each of which so executed
shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment in Portable Document Format (.PDF) or by facsimile
transmission shall be effective as delivery of a manually executed original counterpart thereof. 
 SECTION 7.
Costs and Expenses. Sellers shall pay Buyer’s reasonable actual out of pocket costs and expenses, including reasonable fees and expenses of accountants, attorneys and advisors, incurred in connection with the preparation,
negotiation, execution and consummation of this Amendment. 
 SECTION 8. Submission to Jurisdiction.
Each party irrevocably and unconditionally (i) submits to the non-exclusive jurisdiction of any United States Federal or New York State court sitting in Manhattan, and any appellate court from any such court, solely for the purpose of any suit,
action or proceeding brought to enforce its obligations under this Amendment or relating in any way to this Amendment and (ii) waives, to the fullest extent it may effectively do so, any defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court and any right of jurisdiction on account of its place of residence or domicile. 

To the extent that any party has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit
or proceeding, from jurisdiction of any court or from set off or any legal process (whether service or notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) with respect to itself or
any of its property, such party hereby irrevocably waives and agrees not to plead or claim such immunity in respect of any action brought to enforce its obligations under this Amendment or relating in any way to this Amendment. 

  
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 The parties hereby irrevocably waive, to the fullest extent each may effectively
do so, the defense of an inconvenient forum to the maintenance of such action or proceeding and irrevocably consent to the service of any summons and complaint and any other process by the mailing of copies of such process to them at their
respective address specified in the Repurchase Agreement. The parties hereby agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in this Section 8 shall affect the right of Buyer to serve legal process in any other manner permitted by law or affect the right of Buyer to bring any action or proceeding against any Seller or its property in
the courts of other jurisdictions. 
 SECTION 9. WAIVER OF JULY TRIAL. EACH OF THE PARTIES HEREBY
IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AMENDMENT. 

SECTION 10. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF. 

[SIGNATURES FOLLOW] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered as of the day and year first above written. 
  

			
	 BUYER:
  

JPMORGAN CHASE BANK, NATIONAL

ASSOCIATION,

a national banking association organized under the laws of the United States

		
	By:		 /s/ Daniel Rood

			 Name: Daniel Rood
 Title: Executive
Director

 [SIGNATURES CONTINUE ON THE FOLLOWING PAGE] 

 

  
 Signature Page to
Amendment No. 2 to Master Repurchase Agreement 

 SELLERS: 

 

			
	 PARLEX 4 UK FINCO, LLC,

a Delaware limited liability company

		
	By:		 /s/ Douglas Armer

			 Name: Douglas Armer

Title:   Managing Director, Head of Capital

    Markets and Treasurer

  

			
	 PARLEX 4 FINANCE, LLC,

a Delaware limited liability company

		
	By:		 /s/ Douglas Armer

			 Name: Douglas Armer

Title:   Managing Director, Head of Capital

    Markets and Treasurer

 Acknowledged and Agreed: 

BLACKSTONE MORTGAGE TRUST, 

INC., a Maryland corporation, in its capacity as 

Guarantor, and solely for purposes of 

acknowledging and agreeing to the terms of this 

Amendment: 
  

			
	By:		 /s/ Douglas Armer

	 Name:

Title:
		 Douglas Armer
 Managing Director, Head of
Capital
 Markets and Treasurer

  

  
 Signature Page to
Amendment No. 2 to Master Repurchase AgreementEX-10.6

 Exhibit 10.6 

AMENDMENT NUMBER ONE 
 to the 

MASTER REPURCHASE AGREEMENT 
 dated
as of June 27, 2014 
 by and between 

PARLEX 7 FINCO, LLC, 
 and 

METROPOLITAN LIFE INSURANCE COMPANY 

This AMENDMENT NUMBER ONE (this “Amendment”) is made as of this 24th day of February, 2015, by and between PARLEX 7 FINCO, LLC (“Seller”) and METROPOLITAN LIFE INSURANCE COMPANY (“Buyer”), to that certain Master Repurchase Agreement,
dated as of June 27, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Repurchase Agreement”), by and between Seller and Buyer. 

WHEREAS, Seller and Buyer have agreed to amend the Repurchase Agreement as more particularly set forth herein. 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows: 
 SECTION 1. Amendment. Effective as of the Effective Date (as defined below), the Repurchase
Agreement is hereby amended as follows: 
 1.1     The definition of “Facility Amount” in
Section 2 of the Repurchase Agreement is hereby amended and restated in its entirety as follows: 

“Facility Amount” shall mean (i) prior to the Initial Facility Termination Date, $750,000,000 and
(ii) at all times after Seller exercises its first Facility Extension Option in accordance with Section 3(e) of this Agreement, the aggregate Maximum Purchase Price for all Purchased Assets as of the Initial Facility Termination
Date, (a) as increased by the aggregate Buyer Future Funding Advance Amount with respect to all Purchased Assets as of the Initial Facility Termination Date and (b) as reduced by the Maximum Purchase Price and any related Buyer Future
Funding Advance Amount for each Purchased Asset that is repaid in full or repurchased by Seller on any Repurchase Date after the Initial Facility Termination Date. 

1.2     The definition of “Initial Facility Termination Date” in Section 2 of the
Repurchase Agreement is hereby amended and restated in its entirety as follows: 
 “Initial Facility Termination
Date” shall mean February 24, 2016. 

 1.3     Section 12(s) of the Repurchase Agreement
is hereby amended and restated in its entirety as follows: 
 (s) Seller shall pay to Buyer all fees and other amounts as
and when due as set forth in this Agreement, the Fee Letter and the other Transaction Documents, including, without limitation, (i) each Commitment Fee, which shall be due and payable by Seller on the Closing Date and on February 24, 2015,
as applicable; (ii) the Extension Fee, which shall be due and payable by Seller on each date the Seller extends the Facility Termination Date and (iii) the Funding Fee, which shall be due and payable by Seller on the related Purchase Date
for a Purchased Asset. 
 SECTION 2. This Amendment shall become effective as of the date (the “Effective Date”) on which
each of the following conditions precedent shall have been satisfied: 
 2.1     Amendment. Buyer
and Seller shall have each received counterparts of this Amendment, executed and delivered by a duly authorized officer of each party hereto. 

2.2     Commitment Fee. Buyer shall have received from Seller each Commitment Fee due on
February 24, 2015. 
 SECTION 3. Fees and Expenses. Seller agrees to pay to Buyer all fees and out of pocket expenses incurred
by Buyer in connection with this Amendment, including all reasonable fees and out of pocket costs and expenses of legal counsel to Buyer incurred in connection with this Amendment, in accordance with Section 30(d) of the Repurchase
Agreement. 
 SECTION 4. Defined Terms. Any terms capitalized but not otherwise defined herein shall have the respective meanings set
forth in the Repurchase Agreement. 
 SECTION 5. Guarantor Ratification. Blackstone Mortgage Trust, Inc., a Maryland corporation (the
“Guarantor”) hereby ratifies and confirms that the Guaranty, dated as of June 27, 2014, made by Guarantor in favor of Buyer, continues in full force and effect and unmodified and shall not be released, diminished, impaired,
reduced or adversely affected by this Amendment or otherwise, and Guarantor hereby consents, acknowledges and agrees to this Amendment and waives any common law, equitable or statutory rights that it might otherwise have as a result of or in
connection with this Amendment. 
 SECTION 6. Limited Effect. Except as amended hereby, the Repurchase Agreement shall continue in
full force and effect in accordance with its terms. Reference to this Amendment need not be made in the Repurchase Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued
or made pursuant to, or with respect to, the Repurchase Agreement, any reference in any of such items to the Repurchase Agreement being sufficient to refer to the Repurchase Agreement as amended hereby. 

SECTION 7. Representations and Warranties. Seller hereby represents and warrants to Buyer that it is in compliance with all the terms
and provisions set forth in the Repurchase Agreement on its part to be observed or performed, and that no Default or Event of Default has occurred or is continuing, and hereby confirms and reaffirms the representations and warranties contained in
Section 10 of the Repurchase Agreement. Seller hereby represents and warrants that this Amendment has been duly and validly executed and delivered by it, and constitutes its legal, valid and binding obligation, enforceable against it in
accordance with its terms. 

  
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 SECTION 8. Governing Law. This Amendment and the rights and obligations of the parties
hereunder shall be construed in accordance with and governed by the laws of the State of New York, without regard to principles of conflicts of laws (other than Sections 5-1401 and 5-1402 of the New York
General Obligations Law which shall be applicable). 
 SECTION 9. Counterparts. For the purpose of facilitating the execution of this
Amendment, and for other purposes, this Amendment may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument. The parties
intend that faxed signatures and electronically imaged signatures such as .pdf files shall constitute original signatures and are binding on all parties. The original documents shall be promptly delivered, if requested. 

[REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK] 

  
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 IN WITNESS WHEREOF, Seller and Buyer have caused their names to be duly signed to
this Amendment by their respective officers thereunto duly authorized, all as of the date first above written. 
  

			
	 SELLER:
  

PARLEX 7 FINCO, LLC
  

		
	By:		 /s/ Douglas Armer

			 Name: Douglas Armer
 Title:
  Managing Director, Head of Capital
     Markets and Treasurer

  

			
	 BUYER:
  

METROPOLITAN LIFE INSURANCE COMPANY
  

		
	By:		 /s/ David V. Politano

			 Name: David V. Politano
 Title:
  Managing Director

 Agreed to, accepted and ratified by: 

BLACKSTONE MORTGAGE TRUST, INC.,  
 a Maryland
corporation, as Guarantor 
  

			
	By:		/s/ Douglas Armer
			 Name: Douglas Armer
 Title:
  Managing Director, Head of Capital
     Markets and Treasurer

  

  
 Amendment Number One to Master Repurchase
Agreement 
 MetLife/Blackstone

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