SEC Contract Filing

Filing Date: 2019-03-12

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>a19-6321_1ex10d3.htm
<DESCRIPTION>EX-10.3
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;10.3<a name="Exhibit10_3_111028"></a></font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXECUTION VERSION</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This <b>AMENDED AND RESTATED NON-RECOURSE CARVEOUT GUARANTY AGREEMENT</b> (this &#147;<b>Agreement</b>&#148;) dated as of March&nbsp;11, 2019, by Owl Rock Capital Corporation II, a Maryland corporation (the &#147;<b>Guarantor</b>&#148;), in favor of (a)&nbsp;State Street Bank and Trust Company, a Massachusetts trust company, as Collateral Agent (together with its successors and assigns in such capacity, the &#147;<b>Collateral Agent</b>&#148;) for and on behalf of the Secured Parties (as defined in the Credit Agreement referred to below), and (b)&nbsp;Goldman Sachs Bank USA and its affiliates that are successors and assigns (&#147;<b>GS</b>&#148;), amends and restates in its entirety the Non-Recourse Carveout Guaranty Agreement (the &#147;Original Non-Recourse Carveout Guaranty Agreement&#148;) by the Guarantor in favor of the Collateral Agent and GS dated as of December&nbsp;4, 2017.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the Sale and Contribution Agreement (the &#147;<b>ORCC II Financing Asset Transfer Agreement</b>&#148;) dated as of December&nbsp;4, 2017 between the Guarantor, as seller (in such capacity, &#147;<b>Seller</b>&#148;), and ORCC II Financing LLC, a Delaware limited liability company (&#147;<b>ORCC II Financing</b>&#148; and a &#147;<b>Borrower</b>&#148;), as purchaser, the Seller sold and/or contributed and will sell and/or contribute to ORCC II Financing certain loans, debt securities and other obligations and assets in accordance with the terms of the ORCC II Financing Asset Transfer Agreement.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the Credit Agreement (as defined below) OR Lending II LLC, a Delaware limited liability company (&#147;<b>OR Lending II</b>&#148; and a &#147;<b>Borrower</b>&#148;) may originate certain loans, debt securities and other obligations and assets with proceeds of Loans (as defined below) under the Credit Agreement and subsequently transfer such assets to ORCC II Financing.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the Amended and Restated Credit Agreement dated as of March&nbsp;11, 2019 (as amended, modified, supplemented, restated, amended and restated, refinanced or replaced from time to time, the &#147;<b>Credit Agreement</b>&#148;) among ORCC II Financing and OR Lending II, as Borrowers (the &#147;<b>Borrowers</b>&#148;), the Lenders party thereto from time to time, GS, as Administrative Agent (in such capacity, the &#147;<b>Administrative Agent</b>&#148;), the Collateral Agent and the other parties thereto, the Lenders have made a credit facility available to the Borrowers in an initial aggregate principal amount not exceeding U.S.$500,000,000 (such credit facility, as may be increased pursuant to Section&nbsp;2.1(f)&nbsp;thereof, the &#147;<b>Credit Facility</b>&#148;, and the loans thereunder, the &#147;<b>Loans</b>&#148;).</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Guarantor and the Borrowers are under common ownership and control.&#160; The Guarantor will receive significant benefits by virtue of the transactions under the Credit Agreement and the other Transaction Documents.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is a condition precedent to the extension of the Credit Facility (and it is a material inducement to the Lenders to make the Loans and for the Administrative Agent and Collateral Agent to enter into the Credit Agreement) that the Guarantor unconditionally guarantee the &#147;Guaranteed Obligations&#148; as hereinafter defined.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, for good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties do hereby agree as follows:</font></p>
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