SEC Contract Filing

Filing Date: 2022-02-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.19
<SEQUENCE>3
<FILENAME>a202112-exhibit1019.htm
<DESCRIPTION>EX-10.19
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 <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.19</font><br>
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 <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">EXECUTION VERSION</div>
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 <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>FIFTH AMENDMENT TO AMENDED AND RESTATED MASTER REPURCHASE</u></div>
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 <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman', Times, serif;">This Fifth Amendment to Amended and Restated Master Repurchase Agreement (this &#8220;<u>Amendment</u>&#8221;), dated as of October 29, 2021, is by and among KREF LENDING III LLC, a Delaware limited liability company (&#8220;<u>QRS
 Seller</u>&#8221;), KREF LENDING III TRS LLC, a Delaware limited liability company (&#8220;<u>TRS Seller</u>&#8221;; together with QRS Seller, the &#8220;<u>Sellers</u>&#8221; and each a &#8220;<u>Seller</u>&#8221;), GOLDMAN SACHS BANK USA, a New York chartered bank (&#8220;<u>Buyer</u>&#8221;), and solely for purposes of <u>Section 3</u> hereof, KREF HOLDINGS
 III LLC (&#8220;<u>Pledgor</u>&#8221;) and KKR REAL ESTATE FINANCE HOLDINGS L.P. (&#8220;<u>Guarantor</u>&#8221;).&#160;
 Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Repurchase Agreement (as defined below).</div>
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 <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>W I T N E S S E T H</u>:</div>
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 <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">WHEREAS</font>, the Sellers and Buyer
 have entered into (i) that certain Amended and Restated Master Repurchase Agreement, dated as of November 1, 2017 (<a name="z_Hlk85657979"></a>as amended by that certain First Amendment to Amended and Restated Master Repurchase Agreement, dated as
 of July 31, 2018, that certain Second Amendment to Amended and Restated Master Repurchase Agreement, dated as of October 31, 2018, that certain Third Amendment to Amended and Restated Master Repurchase Agreement, dated as of May 22, 2020, that
 certain Fourth Amendment to Amended and Restated Master Repurchase Agreement, dated as of June 30, 2021 and as may be further amended, modified and/or restated from time to time, the &#8220;<u>Repurchase Agreement</u>&#8221;) and (ii) that certain Amended and Restated Fee Letter, dated as of November 1, 2017 (as amended by that certain First Amendment to Fee Letter, dated as of May 22, 2020 and as may be further
 amended, modified and/or restated from time to time, the &#8220;<u>Fee Letter</u>&#8221;);</div>
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 <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">WHEREAS</font>, the Sellers and Buyer
 wish to modify certain terms and provisions of the Repurchase Agreement; and</div>
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 <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">WHEREAS</font>, contemporaneously with
 the execution and delivery of this Amendment, the Sellers and Buyer wish to modify certain terms and provisions of the Fee Letter pursuant to a Second Amendment to Amended and Restated Fee Letter, dated as of the date hereof (the &#8220;<u>Fee Letter Amendment</u>&#8221;), among the Sellers and Buyer.</div>
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 <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">NOW, THEREFORE</font>, the parties
 hereto agree as follows:</div>
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 <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">1.</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;"><u>Amendments to Repurchase Agreement</u>.&#160; The Repurchase Agreement is hereby amended as follows:</font></div>
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 <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;">Each of the following
 definitions in Article 2 of the Repurchase Agreement are hereby deleted and replaced as follows:</font></div>
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 <div style="text-align: justify; margin-left: 49.5pt; font-family: 'Times New Roman', Times, serif;">&#8220;<a name="z_Hlk86055260"></a><u>Term Amortization
 Period End Date</u>&#8221; means the earliest to occur of: (i) if each of the Term Availability Period End Date Extension Conditions has not been satisfied or otherwise waived by Buyer on or prior to October 31, 2022, then October 30, 2024,
 and (ii) if each of the Term Availability Period End Date Extension Conditions has been satisfied or otherwise waived by Buyer on or prior to October 31, 2022, then October 30, 2025.</div>
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