COMMITMENT INCREASE AGREEMENT July 31, 2023

 

Exhibit 10.3

 

COMMITMENT INCREASE AGREEMENT

 

July 31, 2023

 

JPMorgan Chase Bank, N.A., as

Administrative Agent

▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.

NCC5 / 1st Floor

Newark, DE 19713-2107

Attention: Loan & Agency Services Group

 

Ladies and Gentlemen:

 

We refer to the $750,000,000 Senior Secured Credit Agreement dated as of December 20, 2022 (as amended, modified or supplemented from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined) among Ares Strategic Income Fund (the “Borrower”), the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent for said ▇▇▇▇▇▇▇. You have advised us that the Borrower has requested in a letter dated July 26, 2023 (the “Increase Request”) from the Borrower to the Administrative Agent that the aggregate amount of the Multicurrency Commitments be increased on the terms and subject to the conditions set forth herein.

 

A. Commitment Increase. Pursuant to Section 2.07(e) of the Credit Agreement, Société Générale (the “Assuming Lender”), hereby agrees to make Multicurrency Commitments in the amount set forth opposite the name of the Assuming Lender listed in Schedule I hereto, such Multicurrency Commitments to be effective as of the Increase Date (as defined in the Increase Request); provided, that the Administrative Agent shall have received a duly executed officer’s certificate from the Borrower, dated the Increase Date, in substantially the form of Exhibit I hereto. Pursuant to Section 2.07(e)(i)(D) of the Credit Agreement, the Administrative Agent and the Issuing Banks hereby consent to the Assuming Lender making its Multicurrency Commitments in the amount specified in the Increase Request and in Schedule I hereto.

 

B. Confirmation of Assuming Lender. The Assuming Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement, (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, and (iii) acknowledges and agrees that, from and after the Increase Date and the making of the associated Multicurrency Commitments, the Commitment Increase set forth opposite the name of the Assuming Lender listed in Schedule I hereto shall be included in its Commitments and such Commitments shall be governed for all purposes by the Credit Agreement and the other Loan Documents.

 

C. Counterparts. This Commitment Increase Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Commitment Increase Agreement by telecopy or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement.

 

D. Governing Law. This Commitment Increase Agreement shall be construed in accordance with and governed by the law of the State of New York.

  

[signature pages follow]

 

 

	Very truly yours,
	ASSUMING LENDER
	SOCIÉTÉ GÉNÉRALE
	By:	/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
	Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
	Title: Managing Director

 

[Signature Page – Commitment Increase Agreement]

 

 

Accepted and agreed:
ARES STRATEGIC INCOME FUND
By:	/s/ ▇▇▇▇▇ ▇▇▇
	Name: ▇▇▇▇▇ ▇▇▇
	Title: Chief Financial Officer

 

[Signature Page – Commitment Increase Agreement]

 

 

Acknowledged:
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent and Issuing Bank
By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇
	Name: ▇▇▇▇▇ ▇▇▇▇▇
	Title: Vice President

 

[Signature Page – Commitment Increase Agreement]

 

 

TRUIST BANK,
as an Issuing Bank
By:	/s/ ▇▇▇▇ ▇▇▇▇
	Name: ▇▇▇▇ ▇▇▇▇
	Title: Director

 

[Signature Page – Commitment Increase Agreement]

 

 

SUMITOMO MITSUI BANKING CORPORATION,
as an Issuing Bank
By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇
	Name: ▇▇▇▇▇ ▇▇▇▇▇
	Title: Managing Director

 

[Signature Page – Commitment Increase Agreement]

 

 

▇▇▇▇▇ FARGO BANK, N.A.,
as an Issuing Bank
By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
	Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
	Title: Director

 

[Signature Page – Commitment Increase Agreement]

 

 

SCHEDULE I

 

Assuming Lender	Commitment
Société Générale	$50,000,000 (Multicurrency)