Document:

Exhibit 10.2

 

CONSULTING AGREEMENT

THIS AGREEMENT
is made and entered into effective as of the 10th day of October 2019, by and between Douglas L. Davis., (“Consultant”),
and GBT BitSpeed Corp., a Nevada corporation (the “Company”).

R E C I T
A L S:

A.       The
Company is a closely-held corporation that was a formed or will be formed as a special purpose entity and as vehicle for the joint
venture as stated in the Joint Venture Agreement between the BITSPEED LLC (“BITSPEED”) and GBT Technologies Inc. (“GBT”).

B.       The
Company’s principal purposes are: (1) identifying, investigating, investing in, and creating business with technology opportunities
and organizations; (2) obtain additional financing and/or become publicly owned through the sale of shares to the public and/or
obtain financing through private placement offering(s); and (3) activities incidental thereto (collectively “Company Purposes”).

C.       Consultant
is a highly experienced entrepreneur, technologist, consultant, business strategist, and has senior-level experience in privately
and publicly held companies, and is well connected within the technology industry in Europe and the United States. Consultant is
experienced in the financing field and familiar with the steps necessary to assist a closely-held business in becoming a publicly
held company and/or obtain financing through private placement offering(s).

D.       The
Company is willing to engage Consultant to perform consulting services for its benefit and is willing to pay Consultant a reasonable
fee for those services.

E.       The
parties hereto desire to enter into this Consulting Agreement upon the terms and conditions hereinafter set forth.

A G R E E M E N T S:

1.                  
CONSULTING SERVICES. Consultant agrees to provide consulting services to the Company relating
to the Company Purposes including, but not limited to, the following:

		a.	Assisting the Company in developing its investment image;

		b.	Interviewing and selecting investment bankers;

		c.	Meeting with investment bankers, security analysts, portfolio managers,
stockbrokers, and traders;

		d.	Assisting in determining the appropriate pricing for an initial public
offering and/or private placement offering(s); 

		e.	Being available for investor and due diligence meetings;

		f.	Working with attorneys and investment bankers on registration statement
as needed; 

		g.	Advising in connection with development of technology opportunities
to be invested in by Company;

		h.	Advising in connection with all products and services business development,
including but not limited to, planning, budgeting, revenue projections, marketing and sales, and contract administration; and

		i.	Advising in connection with other investments Company may pursue,
including all stages involved. 

    	 	1	 

     

    

2.                  
CONSULTING FEE. In consideration of Consultant’s performance of the services referred
to in Paragraph 1 for the term hereof, the Company agrees to pay to Consultant a consulting fee in an amount equal to $10,000 per
month, payable in GBT shares of common stock. The number of GBT shares of common stock shall be paid on a quarterly basis at the
beginning of each quarter, prorated for partial quarters, and be determined by dividing $30,000 by GBT’s 20 day VWAP. 

3.                  
TERM. The term of this Agreement shall commence on the date hereof and continue for two (2)
years, ending on October 9, 2021. Notwithstanding anything else to the contrary herein, since this Consulting Agreement is part
of the Joint Venture Agreement; a termination of this Consulting Agreement shall only be done in compliance and conformity with
the Joint Venture Agreement, Company Article of Incorporation and Bylaws, Company policy, and the Transaction Documents.

4.                  
CONFIDENTIAL INFORMATION. It is expressly understood and agreed that all trade secrets and
proprietary know-how of the Company are confidential and are the sole property of the Company. Consultant shall have no right to
possession of such trade secrets and know-how other than in the discharge of its duties hereunder. 

5.                  
LIABILITY OF CONSULTANT. In the course of carrying out its duties as obligated under this
Consulting Agreement, Consultant shall be liable only for willful misconduct, but in all other respects, shall not be liable to
the Company for any mistake of judgment. If the Consultant becomes liable or responsible for the payment of any debt, encumbrance,
liability or judgment arising out of or resulting from Consultant’s performance under this Agreement, and the payment of
such debt, encumbrance, liability or a judgment did not arise through the willful misconduct of Consultant, the Company shall indemnify
Consultant for any and all such expense.

6.                  
INDEPENDENT CONTRACTOR STATUS. Consultant is providing services to the Company only for the
purposes and to the extent set forth in this Consulting Agreement and the Joint Venture Agreement, and Consultant’s relation
to the Company shall at all times during the term of this Consulting Agreement be that of an independent contractor. In connection
with the Consultant Agreement and the Consulting Fee, Consultant shall not be considered as having employee status or as being
entitled to participate in any plans, arrangements, or distributions by the Company pertaining to or in connection with any pension
plan, stock plan, bonus plan, profit sharing plan or similar plan or benefit for the Company’s employees.

7.                  
COST AND EXPENSES. The Company shall reimburse Consultant for reasonable out-of-pocket costs
and expenses incurred by Consultant in connection with the performance of its duties as described herein. 

8.                  
NOTICES. Any notices, statements, payments or other communications by the parties hereto to
the other party shall be directed to the address set forth below:

 

If to the Company:                            GBT BitSpeed Corp.

Attention:

2500 Broadway, Suite F-125

Santa Monica, CA 90404 USA

Telephone:(424) 238-4589

 

If to Consultant:                               Attention: Douglas Davis

2030 Canyon Court

La Habra Heights, CA 90631 USA

Telephone:(310) 710-5810

 

    	 	2	 

     

    

9.                  
ASSIGNMENTS. Neither party shall assign this Agreement or any portion of the rights without
the prior written consent of the other party hereto.

10.               
BINDING EFFECT. This Agreement, and its terms and provisions, shall be binding upon, and inure
to, the benefit of the parties, their successors, administrators, executors and assigns, except as otherwise provided herein.

11.               
COMPLETE AGREEMENT. This Agreement sets forth all of the covenants, agreements, conditions
and understandings between the parties hereto, and except for the Joint Venture Agreement between BITSPEED and GBT and the terms
thereunder, there are no covenants, promises, agreements, conditions or understandings, either oral or written, between them other
than as set forth herein, and those agreements which are executed contemporaneously herewith. This Agreement cannot be modified
or changed except by a written instrument executed by all the parties hereto.

12.               
CONSTRUCTION. This Agreement shall be construed in accordance with and be governed by the
laws of the State of California.

IN WITNESS
WHEREOF, the parties hereto have set their hands the day and year first above written.

“COMPANY”:

GBT BITSPEED INC.

 

Dated: October 10, 2019                                               By:
/s/ Mansour Khatib
       Mansour Khatib

 Its:CMO

 

“CONSULTANT”

 

 

Dated: October 10, 2019                                               By: /s/
Douglas L. Davis

       Douglas L. Davis

 

    	 	3December
31, 2018.

 

Petrolia
Energy Corporation

 

Re:
LOC $500,000 extension

 

Gentlemen,

 

This
letter serves as notice of extension of the $500,000 LOC that Petrolia has in place with Jovian Petroleum.

 

The
LOC has been extended to 12/31/19.

 

If
you have any questions, please do not hesitate to contact me.

 

Sincerely,

 

	/s/ Quinten Beasley	
	Quinten Beasley	
	President	 

 

710 N. Post Oak, Suite #512 - Houston, Texas, USA 77024 

Telephone: (832) 209-2169 Website: www.jovianpetroleum.comExhibit 10.1

 

EXECUTION VERSION

 

ThIRD
AMENDMENT TO Loan and Servicing Agreement (this “Amendment”), dated as of October 11, 2019 (the “Amendment
Date”), among Golub Capital BDC Funding II LLC, as borrower (the “Borrower”), Golub Capital BDC, Inc.,
as servicer (in such capacity, the “Servicer”) and as the originator (in such capacity, the “Originator”),
Morgan Stanley Senior Funding, Inc., as administrative agent (the “Administrative Agent”), and Morgan Stanley
Bank, N.A., as lender (the “Lender”).

 

WHEREAS, the Borrower,
the Servicer, the Originator, the Administrative Agent and the Lender, are party to that certain Loan and Servicing Agreement,
dated as of February 1, 2019 (as the same may be amended, modified or supplemented prior to the Amendment Date in accordance with
the terms thereof, the “Loan and Servicing Agreement”), by and among the Borrower, the Servicer, the Originator,
the Administrative Agent, each of the Lenders from time to time party thereto, each of the Securitization Subsidiaries from time
to time party thereto and Wells Fargo Bank, National Association, as the collateral agent, the account bank and the collateral
custodian, providing, among other things, for the making and the administration of the Advances by the Lenders to the Borrower;
and

 

WHEREAS, the Borrower,
the Lender, the Administrative Agent and the Servicer desire to amend certain provisions of the Loan and Servicing Agreement, in
accordance with Section 12.01 thereof and subject to the terms and conditions set forth herein.

 

NOW THEREFORE, in consideration
of the foregoing premises and the mutual agreements contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE
I

 

Definitions

 

SECTION 1.1.           
Terms used but not defined herein have the respective meanings given to such terms in the Loan and Servicing Agreement.

ARTICLE
II

 

Amendments to Loan
and Servicing Agreement

 

SECTION 2.1.           
As of the Amendment Date, the Loan and Servicing Agreement is hereby amended to delete the stricken text (indicated textually
in the same manner as the following example: stricken text) and to add the bold
and double-underlined text (indicated textually in the same manner as the following example: bold
and double-underlined text) as set forth on the pages of the Loan and Servicing Agreement attached as Appendix
A hereto.

 

    

     

    

 

ARTICLE
III 

 

Representations and
Warranties

 

SECTION 3.1.           
The Borrower and the Servicer hereby represent and warrant to the Administrative Agent and the Lenders that, as of the Amendment
Date, (i) no Unmatured Event of Default, Event of Default or Servicer Default has occurred and is continuing and (ii) the representations
and warranties of the Borrower and the Servicer contained in the Loan and Servicing Agreement are true and correct in all material
respects on and as of such day.

 

ARTICLE
IV

 

Conditions
Precedent

 

SECTION 4.1.           
This Amendment shall become effective upon satisfaction of each of the following conditions:

 

 

(a)              
its execution and delivery by each party hereto;

 

(b)              the Administrative Agent’s receipt of a legal opinion of counsel for the Borrower, in form and substance reasonably
satisfactory to the Administrative Agent covering such matters as the Administrative Agent may reasonably request;

 

(c)             
the Administrative Agent’s receipt of a good standing certificate for the Borrower issued by the applicable office
body of its jurisdiction of organization and a certified copy of the resolutions of the Borrower approving this Amendment and the
transactions contemplated hereby, certified by its secretary or assistant secretary or other authorized officer; and

 

(d)             
the payment by the Borrower in immediately available funds (which may be from the proceeds of an Advance made on the Amendment
Date) of an Upfront Fee (as defined in the Lender Fee Letter) and any other fees (including reasonable and documented fees, disbursements
and other charges of outside counsel to the Administrative Agent) to be received on the Amendment Date.

 

ARTICLE
V

 

Miscellaneous

 

SECTION 5.1.           
Governing Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED
BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES
THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 

    2

     

    

 

SECTION 5.2.           
Severability Clause. In case any provision in this Amendment shall be invalid, illegal or unenforceable, the validity,
legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

SECTION 5.3.           
Ratification. Except as expressly amended hereby, the Loan and Servicing Agreement is in all respects ratified and
confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Amendment shall form
a part of the Loan and Servicing Agreement for all purposes.

 

SECTION 5.4.           
Counterparts. The parties hereto may sign one or more copies of this Amendment in counterparts, all of which together
shall constitute one and the same agreement. Delivery of an executed signature page of this Amendment by email transmission shall
be effective as delivery of a manually executed counterpart hereof.

 

SECTION 5.5.           
Headings. The headings of the Articles and Sections in this Amendment are for convenience of reference only and shall
not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

 

[Signature Pages Follow]

 

    3

     

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be duly executed as of the Amendment Date.

 

	 	BORROWER:
	 	 
	 	 
	 	GOLUB CAPITAL BDC FUNDING II LLC
	 	 	 
	 	 	 
	 	By:	/s/ Ross A. Tenue
	 	 	Name: Ross A. Tenue 
	 	 	Title: Chief Financial Officer 

 

[Signature Page to Third Amendment to Loan
and Servicing Agreement]

 

    

     

    

 

	 	SERVICER:
	 	 
	 	 
	 	GOLUB CAPITAL BDC, INC.
	 	 
	 	 
	 	By:	/s/ Ross A. Tenue
	 	 	Name: Ross A. Tenue 
	 	 	Title: Chief Financial Officer 

 

[Signature Page to Third Amendment to Loan
and Servicing Agreement]

 

    

     

    

 

	 	ORIGINATOR:
	 	 
	 	 
	 	GOLUB CAPITAL BDC, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Ross A. Tenue
	 	 	Name: Ross A. Tenue 
	 	 	Title: Chief Financial Officer 

 

[Signature Page to Third Amendment to Loan
and Servicing Agreement]

 

    

     

    

 

	 	ADMINISTRATIVE AGENT:
	 	 
	 	 
	 	MORGAN STANLEY SENIOR FUNDING, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Lilia Dobreva
	 	 	Name: Lilia Dobreva 
	 	 	Title: Authorized Signatory 

 

	 	LENDER:
	 	 
	 	 
	 	MORGAN STANLEY BANK, N.A.
	 	 
	 	 
	 	By:	/s/ Matthieu Milgrom
	 	 	Name: Matthieu Milgorm 
	 	 	Title: Authorized Signatory 

 

[Signature Page to Third Amendment to Loan
and Servicing Agreement]

 

    

     

    

 

Appendix A

 

[Attached]

 

    

     

    

 

(Conformed through Amendment No. 23)

 

 

 

Up
to U.S. $300,000,000500,000,000

 

LOAN AND SERVICING AGREEMENT

 

Dated as of February 1, 2019

 

among

 

GOLUB
CAPITAL BDC FUNDING II LLC,

as the Borrower

 

GOLUB
CAPITAL BDC, INC.,

as the Originator and as the Servicer

 

MORGAN STANLEY SENIOR FUNDING, INC.,

as the Administrative Agent

 

EACH OF THE LENDERS FROM TIME TO TIME PARTY
HERETO,

as the Lenders

 

EACH OF THE SECURITIZATION SUBSIDIARIES
FROM TIME TO TIME PARTY HERETO,

 

and

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as the Collateral Agent, Account Bank and Collateral Custodian

 

 

 

    

     

    

 

Table
of Contents

 

	 	 	Page
	 	 	 
	 	ARTICLE I	 
	 	 	 
	 	DEFINITIONS	 
	Section 1.01	Certain Defined Terms	2
	Section 1.02	Other Terms	53
	Section 1.03	Computation of Time Periods	5354
	Section 1.04	Interpretation	5354
	Section 1.05	Currency Conversion	55
	Section 1.06	Computation of Covenants	55
	 	ARTICLE II	 
	 	 	 
	 	THE FACILITY	 
	Section 2.01	Advances	56
	Section 2.02	Procedure for Advances	56
	Section 2.03	Determination of Yield	58
	Section 2.04	Remittance Procedures	58
	Section 2.05	Instructions to the Collateral Agent and the Account Bank	6263
	Section 2.06	Borrowing Base Deficiency Payments	63
	Section 2.07	Sale of Loan Assets; Affiliate Transactions	64
	Section 2.08	Payments and Computations, Etc.	68
	Section 2.09	Unused Fee	6869
	Section 2.10	Increased Costs; Capital Adequacy	69
	Section 2.11	Taxes	70
	Section 2.12	Grant of a Security Interest; Collateral Assignment of Agreements	74
	Section 2.13	Evidence of Debt	76
	Section 2.14	Release of Loan Assets	76
	Section 2.15	Treatment of Amounts Received by any Loan Party	78
	Section 2.16	Prepayment; Termination; Reduction	78
	Section 2.17	Collections and Allocations	79
	Section 2.18	Reinvestment of Principal Collections	81
	Section 2.19	Defaulting Lenders	82
	Section 2.20	Investment of Amounts on Deposit in Contribution Account	83
	Section 2.21	Incremental Facilities	8384
	 	ARTICLE III	 
	 	 	 
	 	CONDITIONS PRECEDENT	 
	Section 3.01	Conditions Precedent to Effectiveness	85
	Section 3.02	Conditions Precedent to All Advances	86
	Section 3.03	Advances Do Not Constitute a Waiver	88
	Section 3.04	Conditions to Acquisition of Loan Assets	88

 

    -i-

     

    

 

Table
of Contents

(continued)

 

	 	 	Page
	 	 	 
	 	ARTICLE IV	 
	 	 	 
	 	REPRESENTATIONS AND WARRANTIES	 
	 	 	 
	Section 4.01	Representations and Warranties of the Loan Parties	90
	Section 4.02	Representations and Warranties of each Loan Party Relating to the Agreement and the Collateral	99
	Section 4.03	Representations and Warranties of the Servicer	99100
	Section 4.04	Representations and Warranties of the Collateral Agent	104
	Section 4.05	Representations and Warranties of the Collateral Custodian	104105
	 	 	 
	 	ARTICLE V	 
	 	 	 
	 	GENERAL COVENANTS	 
	Section 5.01	Affirmative Covenants of the Loan Parties	105106
	Section 5.02	Negative Covenants of the Loan Parties	112
	Section 5.03	Affirmative Covenants of the Servicer	115116
	Section 5.04	Negative Covenants of the Servicer	119120
	Section 5.05	Affirmative Covenants of the Collateral Agent	121
	Section 5.06	Negative Covenants of the Collateral Agent	121
	Section 5.07	Affirmative Covenants of the Collateral Custodian	121
	Section 5.08	Negative Covenants of the Collateral Custodian	121122
	 	ARTICLE VI	 
	 	 	 
	 	ADMINISTRATION AND SERVICING OF CONTRACTS	 
	 	 	 
	Section 6.01	Appointment and Designation of the Servicer	122
	Section 6.02	Duties of the Servicer	124
	Section 6.03	Authorization of the Servicer	125126
	Section 6.04	Collection of Payments; Accounts	126127
	Section 6.05	[Reserved]	128
	Section 6.06	Servicer Compensation	128129
	Section 6.07	Payment of Certain Expenses by Servicer	128129
	Section 6.08	Reports to the Administrative Agent; Account Statements; Servicer Information	128129
	Section 6.09	Annual Statement as to Compliance	130131
	Section 6.10	Annual Independent Public Accountant's Servicing Reports	131
	Section 6.11	Procedural Review of Loan Assets; Access to Servicer and Servicer's Records	131
	Section 6.12	The Servicer Not to Resign	132

 

    -ii-

     

    

 

Table
of Contents

(continued)

 

	 	 	Page
	 	 	 
	 	ARTICLE VII	 
	 	 	 
	 	EVENTS OF DEFAULT	 
	Section 7.01	Events of Default	132133
	Section 7.02	Additional Remedies of the Administrative Agent	136
	Section 7.03	Option to Purchase Collateral	138
	 	ARTICLE VIII	 
	 	 	 
	 	INDEMNIFICATION	 
	Section 8.01	Indemnities by the Borrower	139
	Section 8.02	Indemnities by Servicer	140
	Section 8.03	Waiver of Certain Claims	141
	Section 8.04	Legal Proceedings	141142
	Section 8.05	After-Tax Basis	142
	 	ARTICLE IX	 
	 	 	 
	 	THE ADMINISTRATIVE AGENT	 
	Section 9.01	The Administrative Agent	142
	 	ARTICLE X	 
	 	 	 
	 	COLLATERAL AGENT	 
	Section 10.01	Designation of Collateral Agent	146
	Section 10.02	Duties of Collateral Agent	146147
	Section 10.03	Merger or Consolidation	149150
	Section 10.04	Collateral Agent Compensation	149150
	Section 10.05	Collateral Agent Removal	149150
	Section 10.06	Limitation on Liability	150
	Section 10.07	Collateral Agent Resignation	152
	 	ARTICLE XI	 
	 	 	 
	 	COLLATERAL CUSTODIAN	 
	Section 11.01	Designation of Collateral Custodian	152153
	Section 11.02	Duties of Collateral Custodian	152153
	Section 11.03	Merger or Consolidation	155156
	Section 11.04	Collateral Custodian Compensation	156
	Section 11.05	Collateral Custodian Removal	156
	Section 11.06	Limitation on Liability	156157
	Section 11.07	Collateral Custodian Resignation	158
	Section 11.08	Release of Documents	158159

 

    -iii-

     

    

 

Table
of Contents

(continued)

 

	 	 	Page
	 	 	 
	Section 11.09	Return of Required Loan Documents	159
	Section 11.10	Access to Certain Documentation and Information Regarding the Collateral	159160
	Section 11.11	Bailment	159160
	 	ARTICLE XII	 
	 	 	 
	 	MISCELLANEOUS	 
	Section 12.01	Amendments and Waivers	160
	Section 12.02	Notices, Etc.	161
	Section 12.03	No Waiver; Remedies	163
	Section 12.04	Binding Effect; Assignability; Multiple Lenders	163
	Section 12.05	Term of This Agreement	164165
	Section 12.06	GOVERNING LAW; JURY WAIVER	164165
	Section 12.07	Costs, Expenses and Taxes	166
	Section 12.08	Further Assurances	166167
	Section 12.09	Recourse Against Certain Parties	166167
	Section 12.10	Execution in Counterparts; Severability; Integration	167
	Section 12.11	Characterization of Conveyances Pursuant to each Purchase and Sale Agreement	167168
	Section 12.12	Confidentiality	168169
	Section 12.13	Waiver of Set Off	170171
	Section 12.14	Headings and Exhibits	170171
	Section 12.15	Ratable Payments	170171
	Section 12.16	Failure of any Loan Party or Servicer to Perform Certain Obligations	170171
	Section 12.17	Power of Attorney	171
	Section 12.18	Delivery of Termination Statements, Releases, etc.	171
	Section 12.19	Non-Petition	171172

 

    -iv-

     

    

 

“Existing
Golub BDC CLO” means (i) each of the CLOs approved by the Administrative Agent and identified on Schedule VII
(as such Schedule VII may be updated from time to time by the Borrower), (ii) any existing and future special purpose vehicle
borrower under a credit facility or total return swap undertaken by Golub Capital BDC, Inc. or an Affiliate thereof or (iii) any
future special purpose vehicle (which, for the avoidance of doubt, shall include any future CLO) that is a wholly or partly owned
subsidiary of Golub Capital BDC, Inc. or an Affiliate thereof.

 

"Excluded
Amounts" means (a) any amount received in the Collection Account with respect to any Loan Asset included as part of the
Collateral, which amount is attributable to the payment of any Tax, fee or other charge imposed by any Governmental Authority
on such Loan Asset or on any Related Collateral and (b) any amount received in the Collection Account or other Controlled Account
representing (i) a reimbursement of insurance premiums, (ii) any escrows relating to Taxes, insurance and other amounts in connection
with Loan Assets which are held in an escrow account for the benefit of the Obligor and the secured party pursuant to escrow arrangements
under the Underlying Instruments, (iii) amounts received in the Collection Account with respect to any Loan Asset retransferred
or substituted for upon the occurrence of a Warranty Breach Event or that is otherwise replaced by a Substitute Eligible Loan
Asset, or that is otherwise sold or transferred by the Borrower pursuant to Section 2.07, to the extent such amount is
attributable to a time after the effective date of such replacement or sale, (iv) any interest accruing on a Loan Asset prior
to the related Cut-Off Date that was not purchased by the Borrower and is for the account of the Person from whom the Borrower
purchased such Loan Asset, and (v) amounts deposited into the Collection Account in error.

 

"Excluded Taxes"
means (a) Taxes imposed on or measured by the Recipient's net income (however denominated), franchise Taxes imposed on the Recipient,
and branch profits Taxes imposed on the Recipient, in each case, (i) by the jurisdiction (or any political subdivision thereof)
under the laws of which such Recipient is organized or in which its principal office is located or, in the case of any Lender,
in which its applicable lending office is located or (ii) that are Other Connection Taxes, (b) in the case of any Lender, U.S.
federal withholding Taxes imposed on amounts payable to or for the account of such Lender pursuant to a law in effect on the date
on which (i) such Lender becomes a party hereto or (ii) such Lender changes its lending office, except in each case to the extent
that, pursuant to Section 2.11, amounts with respect to such Taxes were payable either to such Lender's assignor immediately
before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable
to such Recipient's failure to comply with Section 2.11(g), and (d) any U.S. federal withholding Taxes imposed under FATCA.

 

"FATCA"
means Sections 1471 through 1474 of the Code (or any amended or successor versions of Sections 1471 through 1474 of the Code that
are substantively comparable and not materially more onerous to comply with), as of the date of this Agreement, and any current
or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b)(1) of the Code
(or any amended or successor version described above).

 

"Facility
Amount" means the aggregate Commitments as then in effect, which (a) during the period commencing on the SecondThird Amendment
Effective Date and ending on the earlier to occur of (i) the closing date of the CLO Transaction and (ii) March 31, 2020
shall be $300,000,000500,000,000 and
(b) thereafter, shall be $200,000,000, as such amount may be manner that, in the sole discretion of the Administrative Agent,
is materially adverse to the Administrative Agent, any Lender or the value of such Eligible Loan Asset.

 

    22

     

    

 

"Maximum Portfolio
Advance Rate" means, as of any date of determination, (i) during the Revolving Period, the advance rate corresponding
to the Diversity Score of the Loan Assets included in the Collateral as of such date, as set forth below and (ii) thereafter, the
Weighted Average Advance Rate as of such date:

 

	Diversity Score	Maximum Portfolio Advance Rate
	x ≤ 3.0	0%
	3.0 < x ≤ 5.0	25%
	5.0 < x ≤ 10.0	50%
	x > 10.0	Weighted Average Advance Rate 

 

"Measurement
Date" means each of the following dates: (a) the Closing Date; (b) each Reporting Date occurring in a calendar month in
which a Payment Date does not occur (a “Monthly Reporting Date”); (c) each Determination Date; (d) the last
day of each Remittance Period; (e) the date as of which an Advance or reduction of the Advances Outstanding is requested; (f) the
date as of which a release of Principal Collections is requested pursuant to Section 2.18; (g) the date of any Discretionary
Sale described in Section 2.07(a); (h) the date as of which the Servicer obtains actual knowledge of a decrease in the Assigned
Value of any Loan Asset if such knowledge is obtained prior to noon on such date or, otherwise, prior to noon on the next succeeding
Business Day; (i) the last day of the Revolving Period; and (j) the date on which funds on deposit in the Principal Collection
Subaccount are converted into another Eligible Currency pursuant to Section 2.17(f)(iii).

 

"Minimum Equity
Amount" means, as of any date of determination, the greater of (a) $30,000,000 and (b (a) as of any date of determination during the period commencing on
the Third Amendment Effective Date and ending on the earlier to occur of (i) the closing date of the CLO Transaction and (ii) March
31, 2020, the greater of (A) $45,000,000 and (B) the aggregate Adjusted Borrowing Value of all Eligible Loan Assets
issued by each of the three (3) largest Obligors, as of such date of determination, and their respective Affiliates and
(b) thereafter, as of any date of determination, the greater of (i) $30,000,000 and (ii) the aggregate Adjusted Borrowing Value
of all Eligible Loan Assets issued by each of the three (3) largest Obligors, as of such date of determination, and their respective
Affiliates.

 

"Minimum Utilization"
means (a) during the Ramp-Up Period, 0% (b) after the Ramp-Up Period but prior to the end of the Revolving Period, 65% of the Facility
Amount, and (c) thereafter, 0%.

 

“Monthly Determination
Date” means, with respect to each Monthly Reporting Date, the 10th Business Day preceding such Monthly Reporting
Date.

 

"Moody's"
means Moody's Investors Service, Inc. (or its successors in interest).

 

"Morgan Stanley"
means Morgan Stanley Bank, N.A., and its successors and assigns.

 

    31

     

    

 

the terms of this Agreement
(but not including the proceeds of any liquidations, sales, dispositions or securitizations of Non-Levered Loan Assets that the
Servicer directs to be deposited into the Contribution Account).

 

"Pro Rata
Share" means, with respect to each Lender, the percentage obtained by dividing the Commitment of such Lender (or, following
the termination thereof, the outstanding principal amount of all Advances of such Lender), by the aggregate Commitments of all
the Lenders (or, following the termination thereof, the aggregate Advances Outstanding).

 

"Proceeds"
means, with respect to any property included in the Collateral, all property that is receivable or received when such property
is collected, sold, liquidated, foreclosed, exchanged, or otherwise disposed of, whether such disposition is voluntary or involuntary,
and includes all rights to payment with respect to such Collateral including any insurance relating thereto.

 

"Purchase
and Sale Agreement" means, individually or collectively as the context requires, (a) the Originator Purchase and Sale
Agreement and (b) each Securitization Subsidiary Purchase and Sale Agreement.

 

"Purchase Price"
means, with respect to any Loan Asset, an amount (expressed as a percentage of par) equal to the greater of (a) zero and (b) the
actual price paid by a Loan Party in the applicable Eligible Currency for such Loan Asset; provided that if the actual price
paid by such Loan Party for such Loan Asset (i) is greater than or equal to 97% of par and such Loan Party purchased such Loan
Asset within three months of the origination of such Loan Asset or (ii) exceeds 100% of par, in each case, the Purchase Price shall
be deemed to be 100%.

 

"Ramp-Up Period"
means (i) the periods beginning on (a) the Closing Date and
(b) the closing date of each Existing Golub BDC CLO approved in writing by the Administrative Agent in its sole discretion and,
in each case, ending on the earlier to occur of (x) the four-month anniversary thereof and (by) and the first date thereafter on which the Borrowing Base on such date equals
the Facility Amount and (ii) the period beginning on (a) the Third Amendment
Effective Date and ending on (b) the earlier to occur of (x) November 15, 2019 and (y) the first date thereafter on which the Borrowing
Base on such date equals the Facility Amount.

 

"Recipient"
means the Administrative Agent and any Lender, as applicable.

 

"Records"
means all documents relating to the Loan Assets, including books, records and other information executed in connection with the
origination or acquisition of the Loan Assets or maintained with respect to the Loan Assets and the related Obligors that a Loan
Party, the Originator or the Servicer have generated, in which such Loan Party has acquired an interest pursuant to a Purchase
and Sale Agreement or in which such Loan Party or the Originator have otherwise obtained an interest (excluding, for the avoidance
of doubt, any investment committee memorandums or related material utilized by any of the Originator, the Servicer or such Loan
Party in connection with the origination or acquisition of such Loan Asset).

 

“Recurring
Revenue” means, with respect to any Eligible Loan Assets that are Recurring Revenue Loans, the definition of
annualized recurring revenue used in the Underlying documentation evidencing such Loan Asset that relate to such portion(s)
of the indebtedness and interest in other obligations that are owned by another lender.

 

    38

     

    

 

“Revenue”
means, with respect to any Eligible Loan Assets that are Recurring Revenue Loans, the definition of annualized recurring revenue
used in the Underlying Instruments for each such Eligible Loan Asset, or any comparable term for “Revenue” or “Adjusted
Revenue” in the Underlying Instruments for each such Eligible Loan Asset; provided that if there is no such term in
the Underlying Instruments, revenue for the related Obligor and any of its parents or Subsidiaries that are obligated with respect
to such Eligible Loan Asset pursuant to its Underlying Instruments (determined on a consolidated basis without duplication in accordance
with GAAP) for the most recent four fiscal quarter period for which financial statements have been delivered.

 

"Review Criteria"
has the meaning assigned to that term in Section 11.02(b)(i).

 

"Revolving
Loan" means a loan that is a line of credit or contains an unfunded commitment arising from an extension of credit to
an Obligor, pursuant to the terms of which amounts borrowed may be repaid and subsequently reborrowed.

 

"Revolving
Period" means the period commencing on the Closing Date and ending on the earlier to occur of (a) the Commitment Termination
Date and (b) the Facility Maturity Date.

 

"S&P"
means Standard & Poor's Ratings Group, a Standard & Poor's Financial Services LLC business (or its successors in interest).

 

"Sanctions"
means economic and trade sanctions administered or enforced by any of the following authorities: OFAC, the U.S. Department of State,
the European Union, Her Majesty's Treasury (United Kingdom) or the United Nations Security Council.

 

“Screen Rate”
means with respect to (a) Dollar Advances and GBP Advances, LIBOR, (b) with respect to Euro Advances, EURIBOR, (c) CAD Advances,
CDOR and (d) AUD Advances, BBSW; provided that, upon and during the occurrence of a Currency Disruption Event, with respect
to the Advances affected by such Currency Disruption Event, the applicable “Screen Rate” shall be the Designated Base
Rate.

 

"Second
Amendment Effective Date" means September 6, 2019.

 

"Second Lien
Loan" means any Loan Asset (a) that is secured by a valid and perfected Lien on substantially all of the Obligor's assets
constituting Related Collateral for such Loan Asset, subject only to the prior Lien provided to secure the obligations under a
 "first lien" loan and any other expressly permitted Liens under the Underlying Instrument for such Loan Asset, including
any "permitted liens" as defined in such Underlying Instrument, or such comparable term if "permitted liens"
is not defined therein, (b) that, except for the express lien priority provisions under the documentation of the “first
lien” lenders (including super priority facilities permitted thereunder, if any), is either senior to, or pari passu
with, all other Indebtedness of such Obligor, and (c) that the Servicer determines in accordance with the Servicing Standard
that the value of the Related Collateral (or the enterprise value and ability to generate cash flow) on or about the time of origination
equals or exceeds the Outstanding Balance of the Loan Asset

 

    42

     

    

 

"Structured
Finance Obligation" means any obligation of a special purpose vehicle secured directly by, referenced to, or representing
ownership of, a pool of receivables or other assets, including collateralized debt obligations and single asset repackages.

 

"Subsidiary"
means with respect to a Person, a corporation, partnership or other entity of which shares of stock or other ownership interests
having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening
of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity
are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries,
or both, by such Person.

 

"Substitute
Eligible Loan Asset" means each Eligible Loan Asset Granted by a Loan Party to the Collateral Agent, on behalf of the
Secured Parties, pursuant to Section 2.07(c)(ii).

 

"Synthetic
Security" means a security or swap transaction that has payments associated with either payments of interest and/or principal
on a reference obligation or the credit performance of a reference obligation.

 

"Target Portfolio
Amount" means, $295,000,000; provided that, (a) during the period commencing
on the SecondThird
Amendment Effective Date and ending on the earlier to occur of (i) the closing date of the CLO Transaction and (ii) March 31, 20202020,
the Target Portfolio Amount shall be $442,500,000 and (b) thereafter, shall be $295,000,000730,000,000.

 

"Tax Expense
Cap" means, for any Payment Date, a per annum amount equal to $50,000.

 

"Taxes"
means any present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), charges,
assessments or fees of any nature (including interest, penalties, and additions thereto) that are imposed by any Governmental
Authority.

 

"Termination/Reduction
Notice" means each notice required to be delivered by the Borrower in respect of any termination of this Agreement or
any permanent reduction of the Facility Amount, in the form of Exhibit F.

 

"Third
Amendment Effective Date" means October 11, 2019.

 

"Total Leverage
Ratio" means, with respect to any Loan Asset (other than a Recurring Revenue Loan) for any period, the meaning of "Total
Leverage Ratio" or any comparable term in the Underlying Instruments for each Loan Asset (subject to the exclusions in the
definition of Indebtedness), and in any case that "Total Leverage Ratio" or such comparable term is not defined in such
Underlying Instruments, the ratio of (a) Indebtedness less Unrestricted Cash, to (b) EBITDA, as calculated by the Servicer
in accordance with the Servicing Standard using information from and calculations consistent with the relevant compliance statements
and financial reporting packages provided by the relevant Obligor as per the requirements of the related Underlying Instruments.

 

"Transaction
Documents" means this Agreement, any Assignment and Acceptance, each Purchase and Sale Agreement, each Control Agreement,
each Securitization Subsidiary Joinder,

 

    48

     

    

 

Section 2.21               Incremental
Facilities.

 

(a)              
The Borrower may, by written notice to the Administrative Agent and each Lender, elect to request, prior to the last day
of the Revolving Period, an increase to the existing Commitments (any such increase, the “New
Commitments”) by an amount with the consent of the Administrative Agent and each Lender whose Commitment is being
increased thereby in their respective sole discretion and subject to any internal approvals, which would increase the Facility
Amount to an amount greater than $300,000,000500,000,000.
Each such notice shall specify (i) the date (each, an “Increased
Amount Date”) on which the Borrower proposes that the New Commitments shall be effective and approved in writing
by the Administrative Agent and (ii) the identity of each Lender or other Person (each, an “Increasing
Lender”) to whom the Borrower proposes any portion of such New Commitments be allocated and the amounts of such
allocations (if then known). Such New Commitments shall become effective as of such Increased Amount Date; provided
that (A) no Event of Default shall exist on such Increased Amount Date before or after giving effect to such New Commitments;
(B) the New Commitments shall be effected pursuant to an Assignment and Acceptance for each existing Lender or one or more
Joinder Supplements for any new Lender executed and delivered by the Borrower, such new Lender and the Administrative Agent, and
each of which shall be recorded in the Register; (C) the Borrower shall pay any applicable Breakage Fees in connection with
the New Commitments and shall pay any other required fees in connection with the New Commitments; (D) the Borrower shall deliver
or cause to be delivered any legal opinions or other customary closing documents (substantially consistent with the documents set
forth in Section 3.01) reasonably requested by Administrative Agent or an Increasing Lender in connection with any
such transaction; and (E) the effectiveness of any allocation of New Commitments to a non-Lender shall be subject to the prior
written consent of the Administrative Agent.

 

(b)              
On any Increased Amount Date on which New Commitments are effected, subject to the satisfaction of the foregoing terms and
conditions, (i) each of the existing Lenders shall assign to each of the Increasing Lenders, and each of the Increasing Lenders
shall purchase from each of the existing Lenders, at the principal amount thereof (together with accrued interest), such interests
in the Advances Outstanding on such Increased Amount Date as shall be necessary in order that, after giving effect to all such
assignments and purchases, such Advances will be held by existing Lenders and Increasing Lenders ratably in accordance with their
Commitments after giving effect to the addition of such New Commitments to the Commitments, (ii) each New Commitment shall
be deemed, for all purposes, a Commitment and each Advance made thereunder (a “New
Advance”) shall be deemed, for all purposes, an Advance and (iii) each new Lender shall become a Lender with
respect to the Commitments and all matters relating thereto.

 

(c)              
The Administrative Agent shall notify the Lenders promptly upon receipt of the Borrower’s notice of each Increased
Amount Date and in respect thereof (i) the New Commitments and the Increasing Lenders and (ii) in the case of each notice
to any Lender, the respective interests in such Lender’s Advances, in each case subject to the assignments contemplated by
this Section 2.21.

 

The terms and provisions
of the New Advances shall be identical to the Advances. Each Assignment and Acceptance or each Joinder Supplement, as applicable,
may, without the consent

 

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ANNEX A

  

	Lender	Commitment

	Morgan Stanley Bank, N.A.	$300,000,000500,000,000

 

    Annex A-1

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