SEC Contract Filing

Filing Date: 2017-08-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>metlifereaffirmationagreem.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<div><a name="s93af2fc5f34244d9b4451968aca099fa"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.2</font></div><div style="line-height:120%;text-align:right;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">REAFFIRMATION OF GUARANTOR</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">REAFFIRMATION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">dated as of August 4, 2017</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Reference is made to that certain Guaranty (as amended pursuant to that certain Amendment to Guaranty dated as of September 22, 2016 and as may be further amended, restated, supplemented or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guaranty</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of August 13, 2014, made by </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ARES COMMERCIAL REAL ESTATE CORPORATION</font><font style="font-family:inherit;font-size:12pt;">, a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guarantor</font><font style="font-family:inherit;font-size:12pt;">&#8221;), delivered for the benefit of </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">METROPOLITAN LIFE INSURANCE COMPANY</font><font style="font-family:inherit;font-size:12pt;">, a New York corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Buyer</font><font style="font-family:inherit;font-size:12pt;">&#8221;). Guarantor hereby acknowledges receipt of copies of: </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a) that certain First Amendment to Master Repurchase Agreement, dated as of August 4, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">MRA Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between ACRC Lender ML LLC (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Seller</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and Buyer and acknowledged and agreed to by Guarantor, amending that certain Master Repurchase Agreement, dated as of August 13, 2014 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Repurchase Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between Seller and Buyer; and </font></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b) that certain First Amendment to Fee Letter, dated as of August 4, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Fee Letter Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221; and together with the MRA Amendment, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendments</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between Seller and Buyer, amending that certain Fee Letter, dated as of August 13, 2014 (as amended, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Fee Letter</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between Seller and Buyer. </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Guarantor hereby reaffirms the terms and conditions of the Guaranty, and acknowledges and agrees that the Guaranty remains in full force and effect and is hereby reaffirmed, ratified and confirmed. </font></div><div style="line-height:138%;padding-top:18px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Guarantor hereby represents and warrants that: (a) all representations and warranties by such Guarantor contained in the Guaranty are true and correct in all respects as of the date hereof (unless such representation or warranty expressly rel