Common use of Protection of Security Interest Clause in Contracts

Protection of Security Interest. Appointment of Administrative Agent as Attorney-in-Fact 83 Section 12.12 Confidentiality 84 Section 12.13 Execution in Counterparts; Severability; Integration 85 EXHIBIT A Form of Borrower Notice EXHIBIT B Form of Note EXHIBIT C Form of Assignment and Acceptance EXHIBIT D Form of Joinder Agreement EXHIBIT E Form of Monthly Report EXHIBIT F Form of Servicer’s Certificate EXHIBIT G [Reserved] EXHIBIT H Form of Primary Document Trust Receipt EXHIBIT I Form of Assignment of Mortgage EXHIBIT J [Reserved] EXHIBIT K [Reserved] EXHIBIT L Form of Lock-Box Agreement EXHIBIT M Credit Report and Transaction Summary EXHIBIT N ▇▇▇▇▇’▇ Industry Classifications SCHEDULE I Schedule of Documents SCHEDULE II List of Lock-Box Banks, Lock-Box Accounts, Collection Account and Securities Accounts SCHEDULE III Loan List SCHEDULE IV Form of Loans THIS AMENDED AND RESTATED CREDIT AGREEMENT is made as of May 26, 2006, among: (1) GLADSTONE BUSINESS LOAN, LLC, a Delaware limited liability company, as borrower (the “Borrower”); (2) GLADSTONE MANAGEMENT CORPORATION, a Delaware corporation, as servicer (the “Servicer”); (3) Each financial institution from time to time party hereto as a “Committed Lender” and their respective successors and assigns (collectively, the “Committed Lenders”); (4) Each commercial paper issuer from time to time party hereto as a “CP Lender” and their respective successors and assigns (collectively, the “CP Lenders”); (5) Each financial institution from time to time party hereto as a “Managing Agent” and their respective successors and assigns (collectively, the “Managing Agents”); and (6) DEUTSCHE BANK AG, NEW YORK BRANCH, as “Administrative Agent” and its respective successors and assigns (the “Administrative Agent”). IT IS AGREED as follows:

Protection of Security Interest. Appointment of Administrative Agent as Attorney-in-Fact 83 115 Section 12.12 Confidentiality 84 116 Section 12.13 Execution in Counterparts; Severability; Integration 85 117 Section 12.14 Amendment and Restatement 117 Section 12.15 Future Amendment Contemplated 117 Section 12.16 Patriot Act 118 Section 12.17 Defaulting Lenders 118 EXHIBIT A Form of Borrower Notice EXHIBIT B Form of Note EXHIBIT C Form of Assignment and Acceptance EXHIBIT D Form of Joinder Agreement EXHIBIT E Form of Monthly Report EXHIBIT F Form of Servicer’s Certificate EXHIBIT G [Reserved] Form of Dividend Declaration Certificate EXHIBIT H Form of Primary Document Trust Receipt EXHIBIT I Form of Assignment of Mortgage [Reserved] EXHIBIT J [Reserved] EXHIBIT K [Reserved] EXHIBIT L Form of Lock-Box Deposit Account Control Agreement EXHIBIT M Credit Report and Transaction Summary EXHIBIT N ▇▇▇▇▇’▇ Industry Classifications SCHEDULE I Schedule of Documents SCHEDULE II List of Lock-Box Banks, Lock-Box Accounts, Collection Account and Securities Accounts SCHEDULE III Loan List SCHEDULE III Approved Pricing Service SCHEDULE IV Form of Loans Diversity Score Table THIS SIXTH AMENDED AND RESTATED CREDIT AGREEMENT is made as of May 2613, 20062021, among: (1) GLADSTONE BUSINESS LOAN, LLC, a Delaware limited liability company, as borrower (the “Borrower”); (2) GLADSTONE MANAGEMENT CORPORATION, a Delaware corporation, as servicer (the “Servicer”); (3) Each financial institution from time to time party hereto as a “Committed Lender” (whether on the signature pages hereto or in a Joinder Agreement), and as Swingline Lender and their respective successors and assigns (collectively, the “Committed Lenders”); (4) Each commercial paper issuer from time to time party hereto as a “CP Lender” and their respective successors and assigns (collectively, the “CP Lenders”); (5) Each financial institution from time to time party hereto as a “Managing Agent” (whether on the signature pages hereto or in a Joinder Agreement) and their respective successors and assigns (collectively, the “Managing Agents”); and (65) DEUTSCHE BANK AG, NEW YORK BRANCHKEYBANK NATIONAL ASSOCIATION, as “Administrative Agent” and its respective successors and assigns (the “Administrative Agent”). IT IS AGREED as follows:

Protection of Security Interest. Appointment of Administrative Agent as Attorney-in-Fact 83 112 Section 12.12 Confidentiality 84 113 Section 12.13 Execution in Counterparts; Severability; Integration 85 114 Section 12.14 Amendment and Restatement 114 Section 12.15 Patriot Act 114 Section 12.16 Defaulting Lenders 114 EXHIBIT A Form of Borrower Notice EXHIBIT B B-1 EXHIBIT B-2 Form of Revolver Note Form of Swingline Note EXHIBIT C Form of Assignment and Acceptance EXHIBIT D Form of Joinder Agreement EXHIBIT E Form of Monthly Report EXHIBIT F Form of Servicer’s Certificate EXHIBIT G [Reserved] Form of Dividend Declaration Certificate EXHIBIT H Form of Primary Document Trust Receipt EXHIBIT I Form of Assignment of Mortgage EXHIBIT J [Reserved] EXHIBIT K [Reserved] EXHIBIT L Form of Lock-Box Deposit Account Control Agreement EXHIBIT M Credit Report and Transaction Summary EXHIBIT N ▇▇▇▇▇’▇ Industry Classifications SCHEDULE I Schedule Commitments of Documents Lenders SCHEDULE II List of Lock-Box Banks, Lock-Box Accounts, Collection Account and Securities Accounts SCHEDULE III Loan List SCHEDULE III [Reserved] SCHEDULE IV Form of Loans Diversity Score Table THIS FIFTH AMENDED AND RESTATED CREDIT AGREEMENT is made as of May 26April 30, 20062013, among: (1) GLADSTONE BUSINESS LOANINVESTMENT, LLC, a Delaware limited liability company, as borrower (the “Borrower”); (2) GLADSTONE MANAGEMENT CORPORATION, a Delaware corporation, as servicer (the “Servicer”); (3) Each financial institution from time to time party hereto as a “Committed Lender” (whether on the signature pages hereto or in a Joinder Agreement), and as Swingline Lender and their respective successors and assigns (collectively, the “Committed Lenders”); (4) Each commercial paper issuer from time to time party hereto as a “CP Lender” and their respective successors and assigns (collectively, the “CP Lenders”); (5) Each financial institution from time to time party hereto as a “Managing Agent” (whether on the signature pages hereto or in a Joinder Agreement) and their respective successors and assigns (collectively, the “Managing Agents”); and; (65) DEUTSCHE BANK AG, NEW YORK BRANCHKEYBANK NATIONAL ASSOCIATION, as “Administrative Agent” and its respective successors and assigns (the “Administrative Agent”); and (6) KEYBANK NATIONAL ASSOCIATION, as Lead Arranger. IT IS AGREED as follows:

Protection of Security Interest. Appointment of Administrative Agent as Attorney-in-Fact 83 Fact. 99 Section 12.12 Confidentiality 84 Confidentiality. 101 Section 12.13 Execution in Counterparts; Severability; Integration 85 Integration. 102 Section 12.14 Amendment and Restatement. 102 Section 12.15 Patriot Act. 102 EXHIBIT A Form of Borrower Notice EXHIBIT B B-1 EXHIBIT B-2 Form of Revolver Note Form of Swingline Note EXHIBIT C Form of Assignment and Acceptance EXHIBIT D Form of Joinder Agreement EXHIBIT E Form of Monthly Report EXHIBIT F Form of Servicer’s Certificate EXHIBIT G [Reserved] Form of Dividend Declaration Certificate EXHIBIT H Form of Primary Document Trust Receipt EXHIBIT I Form of Assignment of Mortgage EXHIBIT J [Reserved] EXHIBIT K [Reserved] EXHIBIT L Form of Lock-Box Deposit Account Control Agreement EXHIBIT M Credit Report and Transaction Summary EXHIBIT N ▇▇▇▇▇’▇ Industry Classifications SCHEDULE I Schedule of Documents [Reserved] SCHEDULE II List of Lock-Box Banks, Lock-Box Accounts, Collection Account and Securities Accounts SCHEDULE III Loan List SCHEDULE III [Reserved] SCHEDULE IV Form of Loans Diversity Score Table THIS FOURTH AMENDED AND RESTATED CREDIT AGREEMENT is made as of May October 26, 20062011, among: (1) GLADSTONE BUSINESS LOANINVESTMENT, LLC, a Delaware limited liability company, as borrower (the “Borrower”); (2) GLADSTONE MANAGEMENT CORPORATION, a Delaware corporation, as servicer (the “Servicer”); (3) Each financial institution from time to time party hereto as a “Committed Lender” (whether on the signature pages hereto or in a Joinder Agreement) and their respective successors and assigns (collectively, the “Committed Lenders”); (4) Each commercial paper issuer from time to time party hereto as a “CP Lender” and their respective successors and assigns (collectively, the “CP Lenders”); (5) Each financial institution from time to time party hereto as a “Managing Agent” (whether on the signature pages hereto or in a Joinder Agreement) and their respective successors and assigns (collectively, the “Managing Agents”); and; (65) DEUTSCHE BANK AG, NEW YORK BRANCHBRANCH BANKING AND TRUST COMPANY, as “Administrative Agent” and its respective successors and assigns (the “Administrative Agent”); and (6) BRANCH BANKING AND TRUST COMPANY and KEY EQUIPMENT FINANCE INC., as Joint Lead Arrangers. IT IS AGREED as follows:

Protection of Security Interest. Appointment of Administrative Agent as Attorney-in-Fact 83 Fact. 107 Section 12.12 Confidentiality 84 Confidentiality. 109 Section 12.13 Execution in Counterparts; Severability; Integration 85 Integration. 110 Section 12.14 Amendment and Restatement. 110 Section 12.15 Future Amendment Contemplated. 110 Section 12.16 Patriot Act. 110 Section 12.17 Defaulting Lenders 111 EXHIBIT A Form of Borrower Notice EXHIBIT B Form of Note EXHIBIT C Form of Assignment and Acceptance EXHIBIT D Form of Joinder Agreement EXHIBIT E Form of Monthly Report EXHIBIT F Form of Servicer’s Certificate EXHIBIT G [Reserved] Form of Dividend Declaration Certificate EXHIBIT H Form of Primary Document Trust Receipt EXHIBIT I Form of Assignment of Mortgage [Reserved] EXHIBIT J [Reserved] EXHIBIT K [Reserved] EXHIBIT L Form of Lock-Box Deposit Account Control Agreement EXHIBIT M Credit Report and Transaction Summary EXHIBIT N ▇▇▇▇▇’▇ Industry Classifications SCHEDULE I Schedule of Documents SCHEDULE II List of Lock-Box Banks, Lock-Box Accounts, Collection Account and Securities Accounts SCHEDULE III Loan List SCHEDULE III Approved Pricing Service SCHEDULE IV Form of Loans Diversity Score Table THIS FIFTH AMENDED AND RESTATED CREDIT AGREEMENT is made as of May 261, 20062015, among: (1) GLADSTONE BUSINESS LOAN, LLC, a Delaware limited liability company, as borrower (the “Borrower”); (2) GLADSTONE MANAGEMENT CORPORATION, a Delaware corporation, as servicer (the “Servicer”); (3) Each financial institution from time to time party hereto as a “Committed Lender” (whether on the signature pages hereto or in a Joinder Agreement), and as Swingline Lender and their respective successors and assigns (collectively, the “Committed Lenders”); (4) Each commercial paper issuer from time to time party hereto as a “CP Lender” and their respective successors and assigns (collectively, the “CP Lenders”); (5) Each financial institution from time to time party hereto as a “Managing Agent” (whether on the signature pages hereto or in a Joinder Agreement) and their respective successors and assigns (collectively, the “Managing Agents”); and (65) DEUTSCHE BANK AG, NEW YORK BRANCHKEYBANK NATIONAL ASSOCIATION, as “Administrative Agent” and its respective successors and assigns (the “Administrative Agent”). IT IS AGREED as follows:

Protection of Security Interest. Appointment of Administrative Agent as Attorney-in-Fact 83 96 Section 12.12 Confidentiality 84 97 Section 12.13 Execution in Counterparts; Severability; Integration 85 98 Section 12.14 Performance Undertaking 98 EXHIBIT A Form of Borrower Notice EXHIBIT B Form of Note EXHIBIT C Form of Assignment and Acceptance Agreement EXHIBIT D Form of Joinder Agreement Conversion/Continuation Notice EXHIBIT E Form of Monthly Report [Reserved] EXHIBIT F Form of ServicerManager’s Certificate EXHIBIT G [Reserved] Form of Custodian Receipt and Initial Certification EXHIBIT H Form of Primary Document Trust Custodian Receipt and Monthly Certification EXHIBIT I Form of Assignment of Mortgage EXHIBIT J [Reserved] Form of Request for Release of Loan Asset File and Receipt EXHIBIT K [Reserved] EXHIBIT L Form of Lock-Box Account Control Agreement EXHIBIT M Credit Report and Transaction Summary EXHIBIT N ▇▇▇▇▇’▇ Industry Classifications SCHEDULE I Schedule of Documents SCHEDULE II List of Lock-Box Banks, Lock-Box Accounts, Collection Account and Securities Accounts [Reserved] SCHEDULE III Schedule of Loan List Assets SCHEDULE IV Form Location of Loans Loan Asset Files SCHEDULE V Lender Commitments SCHEDULE VI Schedule of Closing Date Loan Assets SCHEDULE VII Notice Addresses SCHEDULE VIII Key Persons SCHEDULE IX Specified Holders THIS AMENDED CREDIT, SECURITY AND RESTATED CREDIT MANAGEMENT AGREEMENT is made as of May 26July 30, 20062010 (this “Agreement” or this “Credit Agreement”, among: (1) GLADSTONE BUSINESS LOANas amended, modified, supplemented or restated from time to time), among GSC INVESTMENT FUNDING LLC, a Delaware limited liability company, as borrower (the “Borrower”); , GSC INVESTMENT CORP., a Maryland corporation, as Performance Guarantor (2) GLADSTONE MANAGEMENT CORPORATIONthe “Performance Guarantor”), SARATOGA INVESTMENT ADVISORS, LLC, a Delaware corporationlimited liability company, as servicer Manager (the “ServicerManager”); (3) Each , each financial institution from time to time party hereto as a “Committed Lender” and their respective successors and assigns (collectively, the “Committed Lenders”); (4) Each commercial paper issuer from time to time party hereto as a “CP Lender” and their respective successors and assigns (collectively, the “CP Lenders”); (5) Each financial institution from time to time party hereto as a “Managing Agent” and their respective successors and assigns (collectively, the “Managing Agents”); and (6) DEUTSCHE BANK AG, NEW YORK BRANCHMADISON CAPITAL FUNDING LLC, as “Administrative Agent” and its respective successors and assigns (the “Administrative Agent”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (“U.S. Bank”), not in its individual capacity, but solely as the custodian (together with its successors and assigns in such capacity, the “Custodian”). IT IS AGREED as follows: