FORM OF ASSET REPURCHASE AGREEMENT

Exhibit (k.8)

FORM OF ASSET REPURCHASE AGREEMENT

This Asset Repurchase Agreement (this “Agreement”) is made and entered into as of this      day of             , 2011 by and between Xxxxxxxxx Financial Cayman Ltd., an exempted company registered with limited liability under the laws of the Cayman Islands (“Purchaser”) and Xxxxxxxxx Financial BDC Funding LLC, a Delaware limited liability company (“Seller”).

WHEREAS, Seller is the beneficial and record owner of the Portfolio Loans listed on Exhibit A hereto (the “Portfolio Loans”); and

WHEREAS, upon the occurrence of a Repurchase Trigger Event (defined below), Purchaser agrees to purchase, and Seller desires to sell, each of the Portfolio Loans which are not Defaulted Portfolio Loans (defined below), pursuant to each Portfolio Loan’s respective Assignment and Assumption Agreement substantially in the form attached hereto as Exhibit B (collectively, the “Assignment and Assumption Agreements”).

NOW, THEREFORE, in consideration of the covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1. Defined Terms. As used in this Agreement, the following terms shall have the meanings indicated:

“Business Day” means any day other than a Saturday or Sunday or other day on which banks in New York, New York are authorized or required to close.

“Date of Purchase” means the first Business Day after the occurrence of the Repurchase Trigger Event.

“Defaulted Portfolio Loans” means one or more “Defaulted Loans” as defined in and determined under the Indenture dated as of July 10, 2007 between Purchaser, as Issuer, and U.S. Bank National Association, as Trustee and Custodian, as amended and supplemented.

“Repurchase Trigger Event” means the failure of Xxxxxxxxx Financial BDC, Inc., an affiliate of Seller, to close an initial public offering of shares of common stock (the “BDC IPO”) within [seven] Business Days after the date of this Agreement.

2. Sale of Portfolio Loans. Pursuant to the Assignment and Assumption Agreements, upon the occurrence of a Repurchase Trigger Event, Seller hereby agrees to sell, assign and transfer to Purchaser, without recourse and without representation or warranty except as herein provided, the Portfolio Loans, other than any Defaulted Portfolio Loans, including all principal and all interest thereon accrued and unpaid as of the Date of Purchase, and all rights and obligations related thereto, including all rights and obligations of the Seller pursuant to the respective loan or credit agreements (the “Credit Agreements”) described in the respective

Assignment and Assumption Agreements. Purchaser hereby agrees to purchase and acquire the Portfolio Loans, other than any Defaulted Portfolio Loans, and assume all rights and obligations relating thereto, as stated above.

3. Purchase Price for the Portfolio Loans; Purchase Date; Conditions Precedent. The purchase price for each Portfolio Loan to be purchased hereunder shall be the purchase price specified on the listing of Portfolio Loans attached as Exhibit A hereto and shall be paid by wire transfer on the Date of Purchase to [identify account] or such other account as designated by Seller by written notice to Purchaser in accordance with the terms hereof. The purchase by Purchaser of the Portfolio Loans shall be subject to satisfaction of the following further conditions on or before the Date of Purchase:

(a) The representations and warranties of Seller contained in Section 4 hereof shall be true and correct on and as of the date of purchase.

(b) The Assignment and Assumption Agreements relating to each Portfolio Loan shall have been duly executed and delivered.

4. Representations and Warranties of Seller. Seller hereby represents and warrants to Purchaser as follows as of the date hereof and as of the Date of Purchase:

4.1 Ownership of Portfolio Loans. Seller has valid title to and owns the Portfolio Loans beneficially and of record, free and clear of all liens, charges, pledges, restrictions and encumbrances whatsoever of any kind or nature, except restrictions upon transfer of such securities under applicable federal and state securities laws and as set forth in the respective Credit Agreements. The Credit Agreements and the ancillary documents and agreements referenced therein, constitute all material documentation related to the Portfolio Loans and true and correct copies thereof have been delivered to the Purchaser.

4.2 Authorization; Enforceability. The execution, delivery and performance of this Agreement and the Assignment and Assumption Agreements, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized by all necessary action on the part of Seller. This Agreement and, upon execution and delivery thereof, the Assignment and Assumption Agreements, have been duly executed and delivered by or on behalf of Seller and are and will be the legal, valid and binding obligations of Seller enforceable against Seller in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium, fraudulent conveyance and other similar laws affecting creditors’ rights generally.

4.3 Noncontravention. Except as disclosed on Schedule 4.3 attached hereto, the execution, delivery and performance of this Agreement and the Assignment and Assumption Agreements by or on behalf of Seller, and the consummation by or on behalf of Seller of the transactions contemplated hereby and thereby, will not conflict with, or result in the breach of any term of, or constitute a default under, or require the consent of any third party or governmental authority under, or create a lien, charge or other encumbrance under any note, mortgage, deed of trust or other agreement or instrument to which Seller is a party or by which

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Seller is bound, or any law or order, rule, regulation, judgment, decree, writ or injunction of any governmental or quasi governmental body having jurisdiction or regulatory authority over Seller or any of its properties, assets or rights.

4.4 Filings. Except as set forth on Schedule 1 to any Assignment and Assumption Agreements, no filings or registrations are required in connections with the transfer of the Portfolio Loans hereunder or thereunder.

4.5 No Default. The Seller has not received notice of any default or event of default as to any of the Portfolio Loans (other than Defaulted Portfolio Loans, which are not being purchased hereunder) pursuant to the respective Credit Agreements.

5. Representations and Warranties of Purchaser. Purchaser hereby represents and warrants to Seller as follows as of the date hereof and as of the Date of Purchase:

5.1 Authorization; Enforceability. The execution, delivery and performance of this Agreement and the Assignment and Assumption Agreements, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized by all necessary action on the part of Purchaser. This Agreement and, upon execution and delivery thereof, the Assignment and Assumption Agreements, have been duly executed and delivered by Purchaser and are the legal, valid and binding obligations of Purchaser enforceable against Purchaser in accordance with their terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium, fraudulent conveyance and other similar laws affecting creditors’ rights generally.

5.2 Noncontravention. Except as disclosed on Schedule 5.2 attached hereto, the execution, delivery and performance of this Agreement and the Assignment and Assumption Agreements by and behalf of Purchaser, and the consummation by or on behalf of Purchaser of the transactions contemplated hereby and thereby, will not conflict with, or result in the breach of any term of, or constitute a default under, or require the consent of any third party or governmental authority under, or create a lien, charge or other encumbrance on any of the Portfolio Loans under that certain Indenture dated as of July 10, 2007 (the “Purchaser Indenture”) by and between Purchaser, as issuer, and U.S. Bank National Association, as trustee and custodian, as amended, or that certain Collateral Management Agreement dated as of July 10, 2007 by and between Purchaser, as issuer, and Xxxxxxxxx Financial LLC, as collateral manager, or under any note, mortgage, deed or trust or other agreement or instrument to which Purchaser is a party or by which Purchaser is bound, or any law or order, rule regulation, judgment, decree, writ or injunction of any governmental or quasi-governmental body having jurisdiction or regulatory authority over Purchaser or any of its properties, assets or rights.

5.3 Investment Intent. Purchaser is acquiring the Portfolio Loans for its own account for investment purposes and not with any view to, or for resale in connection with, any distribution or public offering in violation of the Securities Act of 1933, as amended (the “Act”).

5.4 Absence of Registration. Purchaser understands that the Portfolio Loans have not been and will not be registered under the Act or applicable state securities laws, and that the Portfolio Loans are being sold hereunder in reliance on exemptions from registration under the Act and applicable state securities laws.

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5.5 Securities Laws Limitations on Resale. Purchaser is fully informed and aware of the restrictions upon the resale of the Portfolio Loans under the Act and any applicable state securities laws. Purchaser understands that the Portfolio Loans may not be resold unless they are registered under the Act and any applicable state securities laws or unless an exemption from such registration is available, that the availability of an exemption may depend on factors over which the Purchaser has no control, that unless so registered or exempt from registration, the Portfolio Loans may be required to be held for an indefinite period and that the reliance of Seller upon the exemptions from registration referred to in Section 5.4 and this Section 5.5 is predicated in part upon the representations and warranties in this Section 5.

5.6 Access to Information. Purchaser hereby acknowledges and agrees that it is fully informed regarding the business, financial condition, operations and prospects of the obligors under the Portfolio Loans (the “Obligors”), and is able to evaluate the business, history prospects and capital structure of the Obligors and the risks inherent in ownership of the Portfolio Loans.

6. Parties’ Intent. It is the intention of Seller and Purchaser that the transfers and assignments between Seller and Purchaser contemplated by this Agreement and the respective Assignment and Assumption Agreements shall constitute a sale of each Portfolio Loan (other than the Defaulted Portfolio Loans) and all rights and obligations related thereto to Purchaser for the purpose of applicable bankruptcy, insolvency, reorganization and other similar laws, so that the beneficial interest in and title to the Portfolio Loans (other than the Defaulted Portfolio Loans) and all rights and obligations related thereto shall not be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy law.

7. Undertaking by Seller. Seller undertakes to deliver the Assignment and Assumption Agreements to the respective administrative agents on or before the Date of Purchase or as promptly thereafter as practicable for purposes of having the applicable administrative agent take all action required for each Assignment and Assumption Agreement to become effective for purposes of the respective Credit Agreement as of the Date of Purchase or as shortly thereafter as is practicable, provided however, the failure of any applicable administrative agent to take such action shall not diminish, impair or negate the binding effect of this Agreement or any Assignment and Assumption Agreement.

8. Notices. All notices, demands, instructions and other communications required or permitted to be given to or made upon either party hereto shall be in writing and shall be personally delivered or sent by registered, certified or express mail, postage prepaid, or by facsimile transmission, prepaid courier service or electronic mail (if the recipient has provided an email address), and shall be deemed to be given for purposes of this Agreement on the day that such writing is received by the intended recipient thereof in accordance with this Section 8. Such notice, demands, instructions and other communications shall be effective if delivered to (a) Purchaser, c/x Xxxxxxxxx Financial LLC, 000 Xxxx Xxxxxx, Xxxxx 0000, Xxx Xxxx, Xxx Xxxx 00000, Attention: Alastair X. X. Xxxxxxx, email address: xxxxxxxx@xxxxxxxxxxxx.xxx and (b) Seller at Xxxxxxxxx Financial BDC Funding LLC, 000 Xxxx Xxxxxx, Xxxxx 0000, Xxx Xxxx, Xxx Xxxx 00000, Attention: Alastair X.X. Xxxxxxx, email address: xxxxxxxx@xxxxxxxxxxxx.xxx.

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9. Non-Petition. Each of Seller and Purchaser hereby agrees not to institute against, or join, cooperate with or encourage any other Person in instituting against, the other any bankruptcy, reorganization, receivership, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under federal or state bankruptcy or similar laws until at least one year and one day, or if longer, the applicable preference period then in effect plus one day, after the later of, (a) in the case of Seller, the payment in full of all Advances (as such term is defined in the Credit Agreement dated as of the date hereof (the “Credit Agreement”) by and between Seller and SunTrust Bank, as lender) made to Purchaser under the Credit Agreement and (b) in the case of Purchaser, the payment in full of all obligations issued or incurred under the Purchaser Indenture, and, in each case, the termination of all commitments to make such Advances or obligations; provided that nothing in this Section 8 shall preclude or be deemed to stop Seller or Purchaser, as applicable, from (x) taking any action prior to the expiration of the aforementioned one year and one day period, or if longer, the applicable preference period then in effect in (i) any case or proceeding voluntarily filed or commenced by Purchaser or Seller, respectively, or (ii) any involuntary insolvency proceeding filed or commenced against Purchaser or Seller, respectively, by a Person other than Seller or Purchaser, as the case may be, or (y) from commencing against Purchaser or Seller, as applicable, or any properties of Purchaser or Purchaser, as applicable, any legal action which is not a bankruptcy, reorganization, receivership, arrangement, insolvency, moratorium or liquidation proceeding or other proceeding under federal or state bankruptcy or similar laws. The provisions of this Section 8 shall survive the termination of this Agreement.

10. Miscellaneous. Each of Seller and Purchaser will bear its own fees and expenses relating to the transactions contemplated by, or related to, this Agreement and the respective Assignment and Assumption Agreements. This Agreement and the Assignment and Assumption Agreements contain the complete agreement among all of the parties hereto and thereto with respect to the purchase and sale of the Portfolio Loans and supersedes all prior agreements and understandings among the parties hereto and thereto with respect to the purchase and sale of the Portfolio Loans. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. This Agreement and each of the Assignment and Assumption Agreements may be executed in any number of counterparts, and all of such counterparts of each such agreement together shall constitute one document. This Agreement and the Assignment and Assumption Agreements may be amended only by a written instrument signed by all of the parties hereto or thereto, as applicable.

11. Termination. Upon closing of the BDC IPO, this Agreement and all obligations of the parties hereunder shall be terminated and of no further force and effect.

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IN WITNESS WHEREOF, the parties hereto have duly executed this Purchase and Sale Agreement as of the date and year first above written.

Seller:

Xxxxxxxxx Financial BDC Funding LLC

        By

Its

Purchaser:

Xxxxxxxxx Financial Cayman Ltd.

By: Xxxxxxxxx Financial LLC

Its Collateral Manager

        By

Its

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Exhibit A

THE PORTFOLIO LOANS

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