Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 AMENDMENT
NO. 1 
 Dated as of July 17, 2017 

to 
 CREDIT AGREEMENT 

Dated as of December 12, 2016 

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of July 17, 2017 by and among NetApp, Inc., a Delaware corporation
(the “Borrower”), the financial institutions listed on the signature pages hereof and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), under that certain Credit Agreement dated as of
December 12, 2016 by and among the Borrower, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. 
 WHEREAS, the Borrower has requested
that the requisite Lenders and the Administrative Agent agree to provide additional revolving commitments under, and make certain amendments to, the Credit Agreement; 

WHEREAS, the Borrower, the Lenders party hereto and the Administrative Agent have so agreed on the terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment. 

1. Amendments to the Credit Agreement. Effective as of the Amendment No. 1 Effective Date (as defined below), the parties hereto
agree that the Credit Agreement is hereby amended as follows: 
 (a) Section 1.01 of the Credit Agreement is hereby amended to
add the following definition thereto in the appropriate alphabetical order: 
 ““Amendment No. 1 Effective Date”
means July 17, 2017.” 
 (b) The definition of “Commitment” appearing in Section 1.01 of the Credit Agreement
is hereby amended to insert a new sentence at the end thereof as follows: 
 “The aggregate principal amount of the
Commitments on the Amendment No. 1 Effective Date is $1,000,000,000.” 
 (c) Schedule 2.01A to the Credit Agreement is
hereby amended and restated in its entirety in the form of Schedule 2.01A attached hereto. 

 2. Conditions of Effectiveness. The effectiveness of this Amendment (the
“Amendment No. 1 Effective Date”) is subject to the following conditions precedent: 
 (a) The Administrative Agent
shall have received counterparts of this Amendment duly executed by the Borrower, the Required Lenders (including each existing Lender (if any) whose Commitment is increasing pursuant to the terms of this Amendment) and the Administrative Agent.

 (b) The Administrative Agent shall have received a favorable written opinions (addressed to the Administrative Agent and the Lenders and
dated the Amendment No. 1 Effective Date) of (i) Wilson Sonsini Goodrich & Rosati, P.C., special financing counsel for the Borrower and (ii) Skadden, Arps, Slate, Meagher & Flom LLP, special securities counsel for
the Borrower, in each case in form and substance reasonably satisfactory to the Administrative Agent and its counsel and covering such matters relating to the Borrower, the Loan Documents, this Amendment or the Transactions as the Administrative
Agent shall reasonably request. The Borrower hereby requests such counsels to deliver such opinions. 
 (c) The Administrative Agent shall
have received (i) a certificate signed by a Financial Officer of the Borrower certifying that, after giving effect to this Amendment, (A) the Borrower is in compliance (on a pro forma basis assuming the increased Commitments have been
fully drawn as Revolving Loans) with the covenants contained in Section 6.05 of the Credit Agreement for the fiscal year ended April 28, 2017, (B) the representations and warranties of the Borrower set forth in the Credit Agreement
(as amended by this Amendment) (other than the representations and warranties contained in Section 3.04(b) and Section 3.06(a)) are true and correct in all material respects (except that any representation and warranty that is qualified by
materiality or Material Adverse Effect shall be true and correct in all respects) on and as of the date of such certificate; except, in each case, to the extent such representation and warranty specifically refers to an earlier date, in which case
it shall be true and correct in all material respects (except that any representation and warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all respects) as of such earlier date, and (C) no
Default or Event of Default has occurred and is continuing, and (ii) such other documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of the
Borrower, the authorization of the Transactions and any other legal matters relating to the Borrower, the Loan Documents or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

(d) The Administrative Agent shall have received (i) for the account of each Lender participating in the increase to the Commitments
pursuant hereto that delivers its executed signature page to this Amendment by no later than the date and time specified by the Administrative Agent, an upfront fee in an amount equal to the applicable amount previously disclosed to the Lenders and
(ii) payment of the Administrative Agent’s and its affiliates’ fees and reasonable out-of-pocket expenses (including reasonable out-of-pocket fees and expenses of counsel for the Administrative Agent) in connection with this Amendment
and the other Loan Documents. 
 (e) The Administrative Agent shall have made such reallocations of each Lender’s Applicable Percentage
of the Revolving Credit Exposure under the Credit Agreement as are necessary in order that the Revolving Credit Exposure with respect to such Lender reflects such Lender’s Applicable Percentage of the Revolving Credit Exposure under the Credit
Agreement as amended hereby. The Borrower hereby agrees to compensate each Lender for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurocurrency Loans and the reallocation described
in this clause (e), in each case on the terms and in the manner set forth in Section 2.16 of the Credit Agreement. 

  
 2 

 3. Representations and Warranties of the Borrower. The Borrower hereby represents and
warrants as follows: 
 (a) This Amendment and the Credit Agreement as modified hereby constitute legal, valid and binding obligations of the
Borrower and are enforceable against the Borrower in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law. 
 (b) As of the date hereof and after giving effect to the
terms of this Amendment, (i) no Default or Event of Default shall have occurred and be continuing, and (ii) the representations and warranties of the Borrower set forth in the Credit Agreement (other than the representations and warranties
set forth in Section 3.04(b) and Section 3.06(a)) are true and correct in all material respects (except that any representation and warranty that is qualified by materiality or Material Adverse Effect shall be true and correct in all
respects), except, in each case, to the extent such representation and warranty specifically refers to an earlier date, in which case it shall be true and correct in all material respects (except that any representation and warranty that is
qualified by materiality or Material Adverse Effect shall be true and correct in all respects) as of such earlier date. 
 4. Reference
to and Effect on the Credit Agreement. 
 (a) Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit
Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as amended hereby. 
 (b) Each Loan Document and
all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 

(c) Except with respect to the subject matter hereof, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver
of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection
therewith. 
 (d) This Amendment is a Loan Document. 

5. Governing Law. This Amendment shall be construed in accordance with and governed by the law of the State of New York. 

6. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part
of this Amendment for any other purpose. 
 7. Counterparts. This Amendment may be executed by one or more of the parties hereto on
any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered
in person. 
 [Signature Pages Follow] 

  
 3 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

					
	NETAPP, INC.,
	as the Borrower
		
	By:	 	/s/ Jeffrey Bergmann
	Name:	 	Jeffrey Bergmann
	Title:	 	Vice President of Tax & Treasury

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	JPMORGAN CHASE BANK, N.A.,
	individually as a Lender, as an Issuing Bank, as the Swingline Lender and as Administrative Agent
		
	By:	 	/s/ Timothy D. Lee
	Name:	 	Timothy D. Lee
	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	BANK OF AMERICA, N.A.,
	individually as a Lender and as an Issuing Bank
		
	By:	 	/s/ Janet Fung
	Name:	 	Janet Fung
	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	individually as a Lender and as an Issuing Bank
		
	By:	 	/s/ Jonake Bose
	Name:	 	Jonake Bose
	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
	as a Lender
		
	By:	 	/s/ Lillian Kim
	Name:	 	Lillian Kim
	Title:	 	Director

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	CITIBANK, N.A.,
	as a Lender
		
	By:	 	/s/ Carmen-Christina Kelleher
	Name:	 	Carmen-Christina Kelleher
	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	GOLDMAN SACHS BANK USA,
	as a Lender
		
	By:	 	/s/ Rebecca Kratz
	Name:	 	Rebecca Kratz
	Title:	 	Authorized Signatory

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	MORGAN STANLEY BANK, N.A.,
	as a Lender
		
	By:	 	/s/ Michael King
	Name:	 	Michael King
	Title:	 	Authorized Signatory

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
					
	STANDARD CHARTERED BANK,
	as a Lender
		
	By:	 	/s/ Daniel Mattern
	Name:	 	Daniel Mattern
	Title:	 	Associate Director

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 
			
	BNP PARIBAS,
	as a Lender
		
	By:	 	/s/ Gregory R. Paul
	Name:	 	    Gregory R. Paul
	Title:	 	    Managing Director
		
	By:	 	/s/ Liz Cheng
	Name:	 	    Liz Cheng
	Title:	 	    Vice President

  
 Signature Page to
Amendment No. 1 to 
 Credit Agreement dated as of December 12, 2016 

NetApp, Inc. 

 SCHEDULE 2.01A 

COMMITMENTS 
  

					
	 LENDER
	  	COMMITMENT	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	170,000,000	 
	 BANK OF AMERICA, N.A.
	  	$	170,000,000	 
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	170,000,000	 
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
	  	$	125,000,000	 
	 CITIBANK, N.A.
	  	$	125,000,000	 
	 GOLDMAN SACHS BANK USA
	  	$	60,000,000	 
	 MORGAN STANLEY BANK, N.A.
	  	$	60,000,000	 
	 STANDARD CHARTERED BANK
	  	$	60,000,000	 
	 BNP PARIBAS
	  	$	60,000,000	 
	 AGGREGATE COMMITMENT
	  	$	1,000,000,000Exhibit 10.1

 

EXECUTION COPY

 

FIFTH AMENDMENT TO Loan
AND SECURITY AGREEMENT AND WAIVER

 

THIS FIFTH AMENDMENT TO
Loan AND SECURITY AGREEMENT AND WAIVER (this
“Amendment”), is made as of July 13, 2017, by and among Fifth Street Senior Floating Rate Corp., as the collateral
manager (in such capacity, the “Collateral Manager”), and as the seller (in such capacity, the “Seller”),
FS Senior Funding II LLC, as the borrower (the “Borrower”), Citibank, N.A., as administrative agent (the “Administrative
Agent”) and Citibank, N.A., as the sole lender (the “Lender”).

 

RECITALS

 

WHEREAS, the Collateral
Manager, the Seller, the Borrower, the Administrative Agent, the Lender and Wells Fargo Bank, National Association, as Collateral
Agent, are parties to that certain Loan and Security Agreement, dated as of January 15, 2015 (as the same has been previously amended
and may be amended, modified, waived, supplemented, restated or replaced from time to time, the “Loan and Security Agreement”).

 

WHEREAS, pursuant to and
in accordance with Section 13.1 of the Loan and Security Agreement, the Collateral Manager and the Borrower desire to, and
have requested that the Administrative Agent and the Lender agree to, amend certain provisions of the Loan and Security Agreement
as provided herein;

 

WHEREAS, the Borrower and
the Collateral Manager have informed the Administrative Agent and the Lender that Fifth Street Management LLC (“FSM”)
proposes to enter into the Asset Purchase Agreement and consummate the Asset Purchase Transaction, each of which will give rise
to a Change of Control constituting a Collateral Manager Event of Default and an Event of Default under the Loan and Security Agreement;

 

WHEREAS, the Borrower and
the Collateral Manager have requested that the Administrative Agent and the Lender agree to waive such Collateral Manager Event
of Default and Event of Default;

 

WHEREAS, subject to the
terms and conditions of this Amendment, the Administrative Agent and Lenders constituting at least the Required Lenders are willing
to agree to such amendments to the Loan and Security Agreement and are willing to waive such Collateral Manger Event of Default
and Event of Default.

 

NOW THEREFORE, in
consideration of the premises and the mutual covenants hereinafter contained, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.          Defined
Terms. Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed thereto in
the Loan and Security Agreement.

 

2.          Amendments.
The Loan and Security Agreement is hereby amended, modified and supplemented as follows:

 

(a)  The
following new defined terms are hereby inserted in Section 1.1 in proper alphabet order:

 

     

     

    

 

“Asset Purchase
Agreement”: the Asset Purchase Agreement, dated as of the date hereof, by and among FSM, a Delaware limited liability
company, Oaktree Capital Management, L.P. (“Oaktree”), a Delaware limited partnership, Fifth Street Asset Management
Inc., a Delaware corporation (solely for the purposes set forth therein) and Fifth Street Holdings L.P., a Delaware limited partnership
(solely for the purposes set forth therein), without regard to any amendments, waivers or other modifications thereto after the
date hereof made without the consent of the Administrative Agent.

 

“Asset Purchase
Transaction”: the entry by Oaktree into a new investment advisory agreement with the Collateral Manager and an affiliate
of Oaktree into a new administration agreement with the Collateral Manager, and the sale, transfer, conveyance and assignment to
Oaktree of the Transferred Assets (as defined in the Asset Purchase Agreement) and the agreement of Oaktree to become responsible
for the Buyer Post-Closing Liabilities (as defined in the Asset Purchase Agreement), in each case, pursuant to and in accordance
with the Asset Purchase Agreement.

 

(b)  The
defined term “Collection Date” in Section 1.1 is hereby amended by deleting it in its entirety and replacing
it with the following:

 

			“Collection Date”: The date on which the Obligations have been irrevocably paid
in full in accordance with Section 2.3(b) and Section 2.7 or 2.8(a), as applicable, and the Commitments
have been irrevocably terminated in full pursuant to Section 2.3(a) or Section 2.3(e), or as a result of the
end of the Reinvestment Period.

 

(c)  The
defined term “Commitment Reduction Fee” in Section 1.1 is hereby amended by deleting it in its entirety
and replacing it with the following:

 

“Commitment Reduction Fee”:
With respect to any reduction of the Commitment pursuant to Section 2.3(a) or Section 2.3(e), an amount equal to
(a) as of the date of such reduction of the Commitment, the product of (i) the excess of the Commitment over the Advances Outstanding
prior to such reduction multiplied by (ii) the applicable Commitment Reduction Percentage and (b) as of each date on or
after the date of such reduction of the Commitment on which the Advances Outstanding are reduced pursuant to Section 2.3(b), 2.3(c)
or 2.3(d), the product of (i) the amount of such reduction in the Advances Outstanding and (ii) the applicable Commitment Reduction
Percentage.

 

(d)  The
defined term “Reinvestment Period End Date” in Section 1.1 is hereby amended by deleting it in its entirety
and replacing it with the following:

 

“Reinvestment Period End
Date”: The earliest to occur of (a) the date of the declaration of the Reinvestment Period End Date pursuant to Section 9.2(a),
(b) the Termination Date pursuant to Section 9.2(a), (c) the date of the termination of all of the Commitments pursuant
to Section 2.3(a) or Section 2.3(e), (d) the Scheduled Reinvestment Period End Date, or (e) a Collateral
Manager Event of Default.

 

(e)  The
defined term “Termination Date” in Section 1.1 is hereby amended by deleting it in its entirety and replacing
it with the following:

 

“Termination Date”:
The earliest of (a) the date of the termination of all the Commitments pursuant to Section 2.3(a) or Section
2.3(e), (b) the Facility Maturity Date, and (c) the date of the declaration of the Termination Date or the date of
the automatic occurrence of the Termination Date pursuant to Section 9.2(a).

 

    	 	2	 

     

    

 

(f)  Section
2.1(b) is hereby amended by deleting it in its entirety and replacing it with the following:

 

(b)  During
the Reinvestment Period, the Borrower may, at its option, request the Lenders to make advances of funds (each, an “Advance”)
under the VFNs pursuant to a Funding Notice; provided, however, that no more than ten (10) Advances may be made in
any one calendar month and no more than three (3) Advances may be made in any one calendar week; provided, further,
that no Lender shall be obligated to make any Advance on or after the date that is three (3) Business Days prior to the Reinvestment
Period End Date; and provided, further, that at any time prior to the consummation of the Asset Purchase Transaction
and the completion by the Administrative Agent of a satisfactory due diligence review of Oaktree, as determined by the Administrative
Agent in its sole discretion, each Advance shall be subject to the prior approval of the Administrative Agent, which may be granted
or withheld in its sole discretion.

 

(g)  Section
2.3(a) is hereby amended by deleting it in its entirety and replacing it with the following:

 

(a)
The Borrower (or the Collateral Manager on behalf of the Borrower) may:

 

(i)          irrevocably
terminate the Commitments in whole; provided that (i) the Borrower shall provide a Repayment Notice at least five (5) Business
Days prior to the date of such termination to the Administrative Agent (with a copy to the Collateral Manager), and (ii) in the
case of such a termination for which a Commitment Reduction Fee is payable in accordance with the Fee Letter, the Borrower shall
pay to the Administrative Agent for distribution to the Lenders the applicable Commitment Reduction Fee on each date set forth
in the definition of Commitment Reduction Fee. The Repayment Notice pursuant to this Section 2.3(a)(i) shall be irrevocable; and

 

(ii)         For
the avoidance of doubt and notwithstanding any other provision of this Agreement, if the Borrower terminates the Commitments in
whole pursuant to this Section 2.3(a), then once the Obligations outstanding are reduced to zero the Collection Date shall occur
and the Collateral shall be released in accordance with Section 8.2(b).

 

(h)  Section
2.3(b) is hereby amended by deleting it in its entirety and replacing it with the following:

 

(b) The Borrower (or the
Collateral Manager on behalf of the Borrower) may, at any time, reduce Advances Outstanding; provided that (i) the Borrower shall
provide a Repayment Notice on or prior to 2:00 p.m. on the Business Day prior to the date of such reduction to the Administrative
Agent, the Collateral Agent and the Lenders (provided that same day notice may be given with respect to curing any Borrowing Base
Deficiency), and (ii) any reduction of Advances Outstanding (other than with respect to repayments of Advances Outstanding made
by the Borrower to reduce Advances Outstanding such that no Borrowing Base Deficiency exists) shall be in a minimum amount of $500,000
(unless the Advances Outstanding are less than $500,000 in which case the minimum reduction shall be equal to the Advances Outstanding
at such time) and in integral multiples of $100,000 in excess thereof. In connection with any such reduction of Advances Outstanding,
the Borrower (or, in the case of curing a Borrowing Base Deficiency, one or more Equityholders on behalf of the Borrower) shall
deliver (1) to the Administrative Agent, the Collateral Agent and each Lender of such Advances, a Repayment Notice and (2) funds
to the Collateral Agent for payment to the Lenders of such Advances sufficient to repay such Advances Outstanding, accrued Interest
thereon, any Breakage Costs and any applicable Commitment Reduction Fee which may include instructions to the Collateral Agent
to use funds from the Principal Collection Account and/or funds otherwise provided by the Borrower or an Equityholder to the Collateral
Agent with respect thereto; provided that, the Advances Outstanding will not be reduced unless sufficient funds have been remitted
to pay in full all of the amounts set forth in the succeeding sentence. The Collateral Agent, at the direction of the Collateral
Manager or, following a Notice of Exclusive Control, the Administrative Agent, shall apply amounts received from the Borrower or
an Equityholder pursuant to this Section 2.3(b) (i) in respect of Advances, to the pro rata reduction of the Advances Outstanding
(and, if applicable pursuant to clause (2) above, to the payment of accrued Interest), (ii) to the payment of any Breakage Costs
and (iii) to the payment of any applicable Commitment Reduction Fee. Any Advance so repaid may, subject to the terms and conditions
hereof, be reborrowed during the Reinvestment Period. Any Repayment Notice relating to any repayment pursuant to this Section 2.3(b)
shall be irrevocable.

 

    	 	3	 

     

    

 

(i)  Section
2.14(a) is hereby amended by deleting it in its entirety and replacing it with the following:

 

(a)  Reinvestment.
On the terms and conditions hereinafter set forth as certified in writing to the Administrative Agent and the Collateral Agent,
prior to the Facility Maturity Date, the Borrower may withdraw funds on deposit in the Principal Collection Account for the following
purposes:

 

(i)          to
reinvest such funds in Loans to be pledged hereunder (a “Reinvestment”), so long as (1) all conditions precedent
set forth in Section 3.2 have been satisfied and (2) each Loan acquired by the Borrower in connection with such reinvestment
shall be an Eligible Loan;

 

(ii)         to
make payments in respect of the Advances Outstanding at such time in accordance with and subject to the terms of Section 2.3(b);
or

 

(iii)        during
the Reinvestment Period, to fund Delayed Draw Term Loans and Revolving Loans; provided that the Borrower shall have used
all funds on deposit in the Unfunded Exposure Account to fund such Loans prior to withdrawing funds from the Principal Collection
Account for such purpose;

 

provided that in the case of (i) and
(iii), at any time prior to the consummation of the Asset Purchase Transaction and the completion by the Administrative Agent of
a satisfactory due diligence review of Oaktree, as determined by the Administrative Agent in its sole discretion, the reinvestment
in any such Loan pursuant to (i) or the funding of any such Delayed Draw Term Loan pursuant to (iii) shall be subject to the prior
approval of the Administrative Agent, which may be granted or withheld in its sole discretion.

 

Upon the satisfaction of the applicable conditions
set forth in this Section 2.14(a) (as certified by the Borrower to the Administrative Agent and the Collateral Agent),
the Collateral Agent will release funds from the Principal Collection Account to be applied pursuant to the above in an amount
not to exceed the lesser of (A) the amount requested by the Borrower and (B) the amount on deposit in the Principal Collection
Account on such day.

 

(j)  Section
2.3 is hereby amended by the insertion of the following new sub-section (e) at the end thereof:

 

(e) In
the event that the Asset Purchase Transaction is not consummated by December 31, 2017 (the “Backstop Date”)
or the Asset Purchase Agreement is terminated without consummation of the Asset Purchase Transaction, all Commitments shall be
deemed irrevocably terminated in whole, effective immediately upon the occurrence of the Backstop Date or the termination of the
Asset Purchase Agreement, as applicable. The Borrower shall pay to the Administrative Agent for distribution to the Lenders the
applicable Commitment Reduction Fee on each date set forth in the definition of Commitment Reduction Fee.

 

    	 	4	 

     

    

 

(k)  Section
2.7 (a) is hereby amended by the deletion of the lead-in thereto in its entirety and replacing it with the following:

 

(a) Interest Collection Account. On each Payment Date during the Reinvestment Period, so long as Section 2.8
does not apply, the Collateral Manager shall direct the Collateral Agent to pay pursuant to the related Payment Date
Statement (and the Collateral Agent shall make payment from the Interest Collection Account to the extent of Available Funds,
in reliance on the information set forth in such Payment Date Statement) to the following Persons, the following amounts in
the following order of priority:

 

(l)  Section
2.7 (b) is hereby amended by the deletion of the lead-in thereto in its entirety and replacing it with the following:

 

(b) On
each Payment Date during the Reinvestment Period, so long as Section 2.8 does not apply, the Collateral Manager shall direct
the Collateral Agent to pay pursuant to the related Payment Date Statement (and the Collateral Agent shall make payment from the
Principal Collection Account to the extent of Available Funds, in reliance on the information set forth in such Payment Date Statement)
to the following Persons, the following amounts in the following order of priority:

 

(m)   Section
2.8 is hereby amended by deleting the lead-in thereto in its entirety and replacing it with the following:

 

(a)  On
(x) each Business Day (a) following the occurrence of and during the continuation of a Default or an Event of Default or (b) following
the declaration of the occurrence, or the deemed occurrence, as applicable, of the Termination Date pursuant to Section 9.2(a)
or (y) the date of (i) an Optional Sale or (ii) a termination of the Commitments pursuant to Section 2.3(a) or Section
2.3(e), and (y) on any Payment Date during the Amortization Period, the Collateral Manager (or, in the case of clause (x),
after delivery of a Notice of Exclusive Control, the Administrative Agent) shall direct the Collateral Agent to pay pursuant to
the related Payment Date Statement (and the Collateral Agent shall make payment from the Collection Account to the extent of Available
Funds, in reliance on the information set forth in such Payment Date Statement) to the following Persons, the following amounts
in the following order of priority:

 

3.          Waiver.
The Administrative Agent and the Lender hereby waive the Collateral Manager Event of Default and Event of Default that will arise,
directly or indirectly, as a result of the entry into the Asset Purchase Agreement and the proposed consummation of the Asset Purchase
Transaction. The Borrower and the Collateral Manager acknowledge and agree that the foregoing waiver is limited to the matters
expressly set forth herein and the Borrower and the Collateral Manager remain obligated to comply with all other terms and conditions
of the Loan and Security Agreement, as amended by this Amendment. The Borrower and the Collateral Manager further acknowledge and
agree that the Administrative Agent and the Lender shall not be obligated in the future to waive any provision of the Loan and
Security Agreement or any other Transaction Document as a result of having provided the waiver contained herein. Without limiting
the generality of the foregoing, the Borrower and the Collateral Manager acknowledge that consummation of the Asset Purchase Transaction
may result in a Collateral Manager Event of Default described in clause (f) of the definition thereof, and while the Controlling
Lender intends to cooperate with the Borrower and the Collateral Manager to designate other individuals reasonably acceptable to
the Controlling Lender, as contemplated by such clause, any such Collateral Manager Event of Default resulting from consummation
of the Asset Purchase Transaction and the failure to replace such person or persons with other individuals reasonably acceptable
to the Controlling Lender within 30 days thereafter is not waived hereby.

 

    	 	5	 

     

    

 

4.          Condition
Precedent and Condition Subsequent. The amendments set forth in Section 2 of this Amendment and the waiver under Section
3 of this Amendment shall become effective upon receipt by the Administrative Agent and the Lender of this Amendment duly executed
by each of the parties hereto. Within ten (10) Business Days following the date hereof, the Borrower shall pay all invoiced fees
and expenses of Latham & Watkins LLP, as counsel to the Administrative Agent and the Lender, in connection with the Loan and
Security Agreement, including the negotiation and execution of this Amendment and the Amendment to Fee Letter of even date herewith.
Failure to pay such fees and expenses within such ten (10) Business Day period shall constitute an Event of Default under the Loan
and Security Agreement.

 

5.          Reaffirmation.
Except to the extent expressly amended by this Amendment, the terms and conditions of the Loan and Security Agreement and other
Transaction Documents shall remain in full force and effect. Each of the Transaction Documents, including the Loan and Security
Agreement, and any and all other agreements, documents or instruments now or hereafter executed and/or delivered pursuant to the
terms hereof or pursuant to the terms of the Loan and Security Agreement as amended hereby, are hereby amended so that any reference
in such Transaction Documents to the Loan and Security Agreement, whether direct or indirect, shall mean a reference to the Loan
and Security Agreement as amended hereby. This Amendment shall constitute a Transaction Document under the Loan and Security Agreement.

 

6.          Miscellaneous.
 This Amendment may be executed in counterparts, each of which shall be and all of which, when taken together, shall constitute
one binding agreement. The Article and/or Section headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other purpose. 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 LAWS OF THE STATE OF NEW
YORK.

 

[THE REMAINDER
OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    	 	6	 

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed by their duly authorized representatives, all as of the day, month and year first above
written.

 

	 	BORROWER
	 	 
	 	FS SENIOR FUNDING II LLC 
	 	 	 
	 	By:	/s/ Steven Noreika
	 	 	Name: Steven Noreika
	 	 	Title: Chief Financial Officer

 

[SIGNATURES
CONTINUE ON FOLLOWING PAGE]

 

     

     

    

 

	 	COLLATERAL MANAGER:
	 	 
	 	FIFTH STREET SENIOR FLOATING RATE CORP.
	 	 	 
	 	By:	/s/ Steven Noreika
	 	 	Name: Steven Noreika
	 	 	Title: Chief Financial Officer

 

     

     

    

 

	 	THE ADMINISTRATIVE AGENT:
	 	 
	 	CITIBANK, N.A., in its capacity as Administrative Agent
	 	 	 
	 	By:	/s/ Wayne Gee
	 	 	Name:  Wayne Gee
	 	 	Title: Vice President
	 	 	 
	 	LENDER:
	 	 
	 	CITIBANK, N.A.,
	 	 	 
	 	By:	/s/ Wayne Gee
	 	 	Name: Wayne Gee
	 	 	Title: Vice President

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