SEC Contract Filing

Filing Date: 2025-03-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>5
<FILENAME>fbred12-31x24exhibit108.htm
<DESCRIPTION>EX-10.8
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2025 Workiva -->
<title>Document</title></head><body><div id="iff6fa375271b4b539e4a3709232a2eab_1"></div><div style="min-height:69.12pt;width:100%"><div><font><br></font></div></div><div style="margin-top:3pt;padding-left:28.47pt;padding-right:28.47pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">GUARANTY</font></div><div><font><br></font></div><div style="padding-left:60pt;padding-right:8.4pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">GUARANTY dated as of July 3, 2024 between Franklin BSP Real Estate Debt BDC (the &#34;Guarantor&#34;) and J.P. Morgan Securities LLC (&#34;JPMS&#34;).</font></div><div><font><br></font></div><div style="padding-left:29.97pt;padding-right:29.97pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">RECITALS</font></div><div><font><br></font></div><div style="padding-left:60pt;padding-right:8.4pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">FBRED BDC High Yield Securities, LLC (the &#34;Counterparty&#34;) and JPMS are parties to a Master Repurchase Agreement dated as of July 3, 2024 (the &#34;Agreement&#34;). Capitalized terms used herein not otherwise defined have the meanings assigned to them in the Agreement. As an inducement to JPMS to enter into the Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, JPMS and the Guarantor agree as follows&#58;</font></div><div><font><br></font></div><div style="padding-left:60pt;padding-right:8.35pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:3pt;text-decoration:underline">Guaranty of Payment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">. The Guarantor, as primary obligor and not as surety only, hereby unconditionally guarantees the due and punctual payment (whether at stated maturity, upon acceleration, early termination or otherwise) of any amounts arising out of or in connection with the Agreement, including without limitation the obligation of the Counterparty to pay any amounts due and owing pursuant to the Agreement and all reasonable out-of-pocket expenses of collection, counsel fees and other expenses incurred by JPMS in connection with the enforcement of its rights under the Agreement (collectively, the &#34;Guaranteed Obligations&#34;). Upon any failure by the Counterparty to pay any of the Guaranteed Obligations, the Guarantor agrees that it will forthwith on demand pay, at the place and in the manner specified in the Agreement, such amounts which the Counterparty has failed to pay. This Guaranty is a guaranty of payment and not merely a guaranty of collection.</font></div><div><font><br></font></div><div style="padding-left:60pt;padding-right:16.6pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:3pt;text-decoration:underline">Guaranty Unconditional and Absolute</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">. The obligations of the Guarantor hereunder shall be unconditional and absolute and, without limiting the generality of the foregoing, shall not be released, discharged or otherwise affected by&#58;</font></div><div><font><br></font></div><div style="padding-left:96pt;padding-right:6.4pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:0.69pt">any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of the Counterparty or any other guarantor of any of the Guaranteed Obligations&#59;</font></div><div><font><br></font></div><div style="padding-left:96pt;padding-right:24.4pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(ii)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:33.36pt">any release, exchange, non-perfection or invalidity of any direct or indirect security for any of the Guaranteed Obligations&#59;</font></div><div><font><br></font></div><div style="padding-left:152.95pt;text-indent:-20.95pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(iii)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:2.98pt">any modification or amendment of or supplement to the Agreement&#59;</font></div><div><font><br></font></div><div style="padding-left:96pt;padding-right:11.7pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(iv)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;fon