SEC Contract Filing

Filing Date: 2024-08-13

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<DIV><FONT size="1" style="font-size:1pt;color:white">EXECUTION VERSION USActive 60440347.7 Up To U.S. $250,000,000 LOAN AND SECURITY AGREEMENT by and among NEW MOUNTAIN GUARDIAN IV BDC, L.L.C., as the Collateral Manager NEW MOUNTAIN GUARDIAN IV HOLDINGS, L.L.C., as the Borrower NEW MOUNTAIN GUARDIAN IV BDC, L.L.C., as the Equityholder and as the Seller EACH OF THE LENDERS FROM TIME TO TIME PARTY HERETO, as the Lenders WELLS FARGO BANK, NATIONAL ASSOCIATION, (Swingline Lender) WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Administrative Agent and WESTERN ALLIANCE TRUST COMPANY, N.A., as the Collateral Custodian Dated as of May 23, 2024 i USActive 60440347.7 TABLE OF CONTENTS Page ARTICLE I. DEFINITIONS ....................................................................................................2 Section 1.1. Certain Defined Terms. ......................................................................................2 Section 1.2. Other Terms. ....................................................................................................48 Section 1.3. Computation of Time Periods. .........................................................................48 Section 1.4. Interpretation. ...................................................................................................48 ARTICLE II. THE FACILITY ................................................................................................50 Section 2.1. Advances. .........................................................................................................50 Section 2.2. Procedures for Advances by the Lenders. ........................................................51 Section 2.3. Reduction of the Facility Amount; Optional Repayments. ..............................53 Section 2.4. Determination of Interest and Non-Usage Fee. ...............................................54 Section 2.5. [Reserved]. .......................................................................................................54 Section 2.6. Principal Repayments. .....................................................................................54 Section 2.7. Settlement Procedures. .....................................................................................54 Section 2.8. Alternate Settlement Procedures. .....................................................................57 Section 2.9. Collections and Allocations. ............................................................................58 Section 2.10. Payments, Computations, Etc. .........................................................................60 Section 2.11. Fees. .................................................................................................................61 Section 2.12. Increased Costs; Capital Adequacy; Illegality. ................................................61 Section 2.13. Taxes. ...............................................................................................................63 Section 2.14. Discretionary Sales. .........................................................................................67 Section 2.15. Assignment of the Sale Agreement. .................................................................68 Section 2.16. Effect of Benchmark Transition Event. ...........................................................69 Section 2.17. Refunding of Swingline Advances. .................................................................70 Section 2.18. Mitigation Obligations; Replacement of Lenders. ...........................................71 Section 2.19. Defaulting Lenders...........................................................................................72 ARTICLE III. CONDITIONS TO CLOSING AND ADVANCES .........................................74 Section 3.1. Conditions to Closing and Initial Advance. .....................................................74 Section 3.2. Conditions Precedent to All Advances and Reinvestments. ............................76 Section 3.3. Custodianship; Transfer of Loans and Permitted Investments. .......................78 ARTICLE IV. REPRESENTATIONS AND WARRANTIES .................................................80 Section 4.1. Representations and Warranties of the Borrower. ...........................................80 Section 4.2. Representations and Warranties of the Borrower Relating to the Agreement and the Collateral. ........................................................................89 TABLE OF CONTENTS (continued) Page ii USActive 60440347.7 Section 4.3. Representations and Warranties of the Collateral Manager. ...........................90 Section 4.4. Representations and Warranties of the Collateral Custodian. .........................93 Section 4.5. Representations and Warranties of the Seller. .................................................93 ARTICLE V. GENERAL COVENANTS ...............................................................................94 Section 5.1. Affirmative Covenants of the Borrower. .........................................................94 Section 5.2. Negative Covenants of the Borrower. ............................................................100 Section 5.3. Affirmative Covenants of the Collateral Manager. ........................................102 Section 5.4. Negative Covenants of the Collateral Manager. ............................................106 Section 5.5. Affirmative Covenants of the Collateral Custodian. ......................................107 Section 5.6. Negati