utz-amendmentno4totermlo






EXECUTION VERSION              AMENDMENT NO. 4 TO CREDIT AGREEMENT  AMENDMENT NO. 4, dated as of September 22, 2022 (this “Amendment”), to the First  Lien Credit Agreement, dated as of November 21, 2017 (as amended by that certain Amendment No. 1 to  Credit Agreement, dated as of July 23, 2020, that certain Amendment No. 2 to Credit Agreement, dated as  of January 20, 2021, that certain Amendment No. 3 to Credit Agreement, dated as of June 22, 2021 and as  further amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agree- ment”), among UTZ QUALITY FOODS, LLC, a Delaware limited liability company (the “Borrower”),  UTZ BRANDS HOLDINGS, LLC (f/k/a UM-U INTERMEDIATE, LLC), a Delaware limited liability  company (the “Parent”), Bank of America, N.A., as Administrative Agent and Collateral Agent and each  lender from time to time party thereto.  Terms defined in the Credit Agreement and used herein shall have  the meanings given to them in the Credit Agreement unless otherwise defined herein.  W I T N E S S E T H:  WHEREAS, the Borrower, the Parent, the Administrative Agent, the Collateral Agent  and the Lenders are party to the Credit Agreement;  WHEREAS, the Borrower has requested an amendment to the Credit Agreement as set  forth below;  WHEREAS, the Administrative Agent, the Parent, the Borrower and the Lenders party  hereto (which constitute the Required Lenders) desire to memorialize the terms of this Amendment and  make the amendments as set forth herein in accordance with Section 1.10(a)(iv) (with respect to the re- placement of LIBOR with the LIBOR Successor Rate (it being understood that the posting of the initial  draft of this Amendment to the Lenders constitutes a notice of such replacement and the related LIBOR  Successor Rate Conforming Changes by the Administrative Agent to the Lenders)) and Section 10.01 of  the Credit Agreement, with such amendments to become effective at the Amendment Effective Date (as  defined below);  NOW, THEREFORE, the parties hereto hereby agree as follows:   ARTICLE I  Amendments to the Credit Agreement and Security Agreement    Section 1.1 Amendments to Credit Agreement.  Effective as of the Fourth Amendment  Effective Date (as defined below), the Credit Agreement is hereby amended to delete the stricken text (in- dicated textually in the same manner as the following example: stricken text) and to add the double-under- lined text (indicated textually in the same manner as the following example: double-underlined text) as set  forth in the pages of the Credit Agreement attached as Exhibit A hereto (the Credit Agreement as so  amended, the “Amended Credit Agreement”).  As of the Fourth Amendment Effective Date, each reference  in the Amended Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like  import, and each reference in the other Loan Documents to the “Credit Agreement” (including, without  limitation, by means of words like “thereunder,” “thereof” and words of like import), shall mean and be a  reference to the Amended Credit Agreement, and this Amendment and the Amended Credit Agreement  shall be read together and construed as a single instrument.    Section 1.2 Amendments to Security Agreement.  Effective as of the Fourth Amend- ment Effective Date (as defined below), the Security Agreement is hereby amended to (a) delete the words  -2-    “and Fixtures” in Section 3.01(a)(iv) thereof and (b) delete the parentheticals regarding fixture filings in  Sections 3.01(b) and 3.02(c)(ii) thereof.  ARTICLE II    Conditions to Effectiveness  Section 2.1. Effective Date.  This Amendment shall become effective on the date (the  “Fourth Amendment Effective Date”) on which:  (a) The Administrative Agent shall have received counterparts of this Amendment  duly executed and delivered by the Borrower, the Parent, the Required Lenders and, with respect to Section  5.5, the Subsidiary Guarantors, the Administrative Agent and each Additional Lender.   (b) The representations and warranties in Article III of this Amendment shall be true  and correct in all material respects; provided that any representation and warranty that is qualified as to  “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to  any qualification therein) in all respects.  (c) The Borrower shall have paid to the Administrative Agent for the account of each  Lender that has delivered to the Administrative Agent an executed signature page to this Amendment by  the deadline previously disclosed by the Administrative Agent to the Lenders a consent fee in an amount  equal to 0.05% of the aggregate principal amount of the Term Loans of such Lender outstanding on the  Fourth Amendment Effective Date.    (d) The Borrower shall have paid to the Administrative Agent, for the account of each  Term Lender that has a Term Loan immediately prior to the Fourth Amendment Effective Date, all accrued  and unpaid interest on the Term Loans up to the Fourth Amendment Effective Date.  ARTICLE III    Representation and Warranties  Section 3.1. The Loan Parties hereby represent and warrant as of the Fourth Amend- ment Effective Date that this Amendment has been, or when executed and delivered will be, duly executed  and delivered by the Loan Parties.  The execution, delivery and performance by the Loan Parties of this  Amendment, and the consummation of the transactions herein contemplated, (a) have been duly author- ized by all necessary corporate or other organizational action and (b) do not and will not (i) contravene  the terms of the Loan Parties’ Organization Documents, (ii) conflict with or result in any breach or con- travention of, or require any payment to be made under (A) any Contractual Obligation exceeding the  Threshold Amount to which such Loan Party is a party or affecting such Loan Party or the properties of  the Borrower or any of its Subsidiaries or (B) any material order, injunction, writ or decree of any Gov- ernmental Authority or any arbitral award to which such Loan Party or its property is subject, (iii) result  in the creation of any Lien (other than under the Loan Documents and Liens subject to the Applicable  Intercreditor Agreement) or (iv) violate any material Law; except (in the case of clauses (b)(ii) and (b)(iv)),  to the extent that such conflict, breach, contravention, payment or violation could not, individually or in  the aggregate, reasonably be expected to have a Material Adverse Effect.  Section 3.2. No approval, consent, exemption, authorization, or other action by, or  notice to, or filing with, any Governmental Authority or any other Person is necessary or required in  connection with the execution, delivery or performance by, or enforcement against, any Loan Party of this  





 






-3-    Amendment, except for (i)  the approvals, consents, exemptions, authorizations, actions, notices and fil- ings which have been duly obtained, taken, given or made and are in full force and effect and (ii) those  approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to  obtain or make could not, individually or in the aggregate, reasonably be expected to have a Material  Adverse Effect.  Section 3.3. This Amendment and each other Loan Document (as amended hereby,  as applicable) have been duly executed and delivered by each Loan Party that is party hereto or thereto,  as applicable. This Amendment and each other Loan Document (as amended hereby, as applicable) con- stitutes a legal, valid and binding obligation of each Loan Party, enforceable against each Loan Party that  is party hereto or thereto, as applicable, in accordance with its terms, except as such enforceability may  be limited by Debtor Relief Laws and by general principles of equity.  Section 3.4. Immediately after giving effect to this Amendment, the representations  and warranties of each Loan Party set forth in Article V of the Credit Agreement and the Loan Documents  are true and correct in all material respects on and as of the Fourth Amendment Effective Date; provided  that, to the extent that such representations and warranties specifically refer to an earlier date, they shall  be true and correct in all material respects as of such earlier date; provided further that any representation  and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language are true  and correct (after giving effect to any qualification therein) in all respects on and as of the Fourth Amend- ment Effective Date or such earlier date, as the case may be.  Section 3.5. At the time of and immediately after giving effect to this Amendment,  no Default or Event of Default has occurred and is continuing.  ARTICLE IV    Lien Release and Terminations  Section 4.1. Release.  Immediately upon the Fourth Amendment Effective Date, the  Lien on any property of the Loan Parties constituting Fixtures (under and as defined in the UCC) shall be  automatically released.  Section 4.2. Terminations.  The Administrative Agent (or its agents or representa- tives) shall promptly execute, deliver and file all releases, discharges of security interests, terminations,  and other documents, and take any other actions as may be required and/or reasonably requested to evi- dence the consummation of the release contemplated by Section 4.1.  The Borrower (or its agents or rep- resentatives) is hereby authorized to file UCC-3 termination statements evidencing the release set forth in  Section 4.1.  ARTICLE V  Miscellaneous  Section 5.1. Counterparts and eSignatures. This Amendment and any document,  amendment, approval, consent, information, notice, certificate, request, statement, disclosure or authori- zation related to this Amendment (each a “Communication”), including Communications required to be  in writing, may be in the form of an Electronic Record and may be executed using Electronic Signatures.   Each of the Loan Parties agrees that any Electronic Signature on or associated with any Communication  shall be valid and binding each of the Loan Parties to the same extent as a manual, original signature, and  that any Communication entered into by Electronic Signature, will constitute the legal, valid and binding  -4-    obligation of each of the Loan Parties enforceable against such in accordance with the terms thereof to the  same extent as if a manually executed original signature was delivered.  Any Communication may be  executed in as many counterparts as necessary or convenient, including both paper and electronic coun- terparts, but all such counterparts are one and the same Communication.  For the avoidance of doubt, the  authorization under this paragraph may include, without limitation, use or acceptance by the Administra- tive Agent and each of the Lenders of a manually signed paper Communication which has been converted  into electronic form (such as scanned into PDF format), or an electronically signed Communication con- verted into another format, for transmission, delivery and/or retention. The Administrative Agent and each  of the Lenders may, at its option, create one or more copies of any Communication in the form of an  imaged Electronic Record (“Electronic Copy”), which shall be deemed created in the ordinary course of  such Person’s business, and destroy the original paper document.  All Communications in the form of an  Electronic Record, including an Electronic Copy, shall be considered an original for all purposes, and  shall have the same legal effect, validity and enforceability as a paper record.  Notwithstanding anything  contained herein to the contrary, the Administrative Agent is under no obligation to accept an Electronic  Signature in any form or in any format unless expressly agreed to by the Administrative Agent pursuant  to procedures approved by it; provided, further, without limiting the foregoing, (a) to the extent the Ad- ministrative Agent has agreed to accept such Electronic Signature, the Administrative Agent and each of  the Lenders shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf  of any Loan Party without further verification and (b) upon the request of the Administrative Agent or any  Lender, any Electronic Signature shall be promptly followed by such manually executed counterpart.  For  purposes hereof, “Electronic Record” and “Electronic Signature” shall have the meanings assigned to  them, respectively, by 15 USC §7006, as it may be amended from time to time.  Section 5.2. Applicable Law.  THIS AMENDMENT AND THE RIGHTS AND  OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED  AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.  Section 5.3. Waiver of Right to Trial by Jury.  SECTION 10.15 OF THE CREDIT  AGREEMENT IS INCORPORATED HEREIN BY REFERENCE, MUTATIS MUTANDIS.  Section 5.4. Headings.  The headings of this Amendment are for purposes of refer- ence only and shall not limit or otherwise affect the meaning hereof.  Section 5.5. Acknowledgement and Reaffirmation of Guarantors.  The Guarantors  acknowledge and agree that this Amendment and all documents executed in connection herewith do not  operate to reduce or discharge the Guarantors’ obligations under the Loan Documents.  Each Guarantor  hereby ratifies and confirms its obligations under the Loan Documents, including the Collateral and Guar- antee Requirement and including, without limitation, its guarantee of the Obligations and its grant of the  security interest in the Collateral (as defined in the Collateral Documents) to secure the Obligations.   Section 5.6. Costs and Expenses.  Subject to the limitations set forth in Section 10.04  of the Credit Agreement, the Borrower agrees to pay all reasonable and documented out of pocket costs  and expenses of the Administrative Agent in connection with the preparation, execution and delivery of  this Amendment (including, without limitation, the reasonable fees and out of pocket expenses of one  counsel for the Administrative Agent with respect thereto).  Section 5.7. Effect of Amendment.  On and after the Fourth Amendment Effective  Date, each reference to the Credit Agreement in any Loan Document (including to any Exhibit or Schedule  attached thereto) shall be deemed to be a reference to the Credit Agreement as amended by this Amend- ment.  As of the Fourth Amendment Effective Date, each reference in the Credit Agreement to “this  Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the other  





 






-5-    Loan Documents to the Credit Agreement (including, without limitation, by means of words like “there- under,” “thereof” and words of like import), shall mean and be a reference to the Credit Agreement, as  amended by this Amendment, and this Amendment and the Credit Agreement shall be read together and  construed as a single instrument.  Except as expressly set forth in this Amendment, nothing herein shall  be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change  of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement  as in effect immediately prior to the Fourth Amendment Effective Date or any other Loan Document in  similar or different circumstances.  Except as expressly amended hereby or specifically waived above, (i)  all of the terms and provisions of the Credit Agreement and all other Loan Documents are and shall remain  in full force and effect and are hereby ratified and confirmed, and (ii) nothing contained herein shall be  construed as a substitution or novation of the obligations outstanding under the Credit Agreement or any  other Loan Document, which obligations shall remain in full force and effect, except in each case as  amended, restated, replaced and superseded hereby or by any instruments executed in connection herewith  or therewith. This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agree- ment and the other Loan Documents.      [Remainder of this page intentionally left blank]      [Signature Page to Amendment No. 3 to Credit Agreement]      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed  and delivered by their respective duly authorized officers as of the date first above written.  UTZ QUALITY FOODS, LLC, as the Borrower    By: /s/ Dylan B. Lissette   Name: Dylan B. Lissette   Title: Chief Executive Officer        UTZ BRANDS HOLDINGS, LLC (f/k/a UM-U  INTERMEDIATE, LLC), as the Parent    By: /s/ Dylan B. Lissette   Name: Dylan B. Lissette   Title: Chief Executive Officer            





 






  [Signature Page to Amendment No. 4 to Credit Agreement]       And with respect to Section 5.5 of this Amendment,    UTZ BRANDS HOLDINGS, LLC (f/k/a UM-U  INTERMEDIATE, LLC),  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  Chief Executive Officer      UTZ QUALITY FOODS, LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  Chief Executive Officer      UTZTRAN, L.L.C. ,  as a Guarantor  By: /s/ Dylan B. Lissette   Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer      GH POP HOLDINGS LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette   Title:  President & Chief Executive  Officer      GOOD HEALTH NATURAL PRODUCTS,  LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer      [Signature Page to Amendment No. 4 to Credit Agreement]       CONDOR SNACK FOODS, LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    SNIKIDDY, LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer      SRS LEASING - GRAMERCY GP, LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette   Title:  President & Chief Executive  Officer      SRS LEASING - GRAMERCY, LP,  as a Guarantor    By: SRS LEASING - GRAMERCY GP,  LLC  Its: General Partner  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer      





 






  [Signature Page to Amendment No. 4 to Credit Agreement]     GOLDEN FLAKE SNACK FOODS, INC. ,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer     HERON HOLDING CORPORATION,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette   Title:  President & Chief Executive  Officer    INVENTURE - GA, INC.,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    INVENTURE FOODS, INC.,  as a Guarantor  By: /s/ Dylan B. Lissette   Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    KENNEDY ENDEAVORS, LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer      [Signature Page to Amendment No. 4 to Credit Agreement]     LA COMETA PROPERTIES, INC.,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    TEJAS PB DISTRIBUTING, INC.,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    KITCHEN COOKED, INC.,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    FLAMINGO HOLDINGS, LLC,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    TRUCO HOLDCO INC.,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    





 






  [Signature Page to Amendment No. 4 to Credit Agreement]     MERIDIAN DISTRIBUTION COMPANY,  as a Guarantor  By: /s/ Dylan B. Lissette   Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    MERIDIAN BRANDS, INC.,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    TRUCO GP, INC.,  as a Guarantor  By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    TRUCO ENTERPRISES, LP,  as a Guarantor    By: Truco GP, Inc.  Its: General Partner    By: /s/ Dylan B. Lissette  Name:  Dylan B. Lissette  Title:  President & Chief Executive  Officer    FESTIDA REAL ESTATE HOLDINGS, LLC  as a Guarantor    By:_/s/ Dylan B. Lissette  Name: Dylan B. Lissette  Title: Chief Executive Officer    R.W. GARCIA CO., INC.  as a Guarantor    By:_ /s/ Dylan B. Lissette  Name: Dylan B. Lissette  Title: Chief Executive Officer    [Signature Page to Amendment No. 4 to Credit Agreement]       R.W. GARCIA HOLDINGS, LLC  as a Guarantor    By: /s/ Dylan B. Lissette  Name: Dylan B. Lissette  Title: President & Chief Executive Officer           





 






  [Signature Page to Amendment No. 4 to Credit Agreement]       BANK OF AMERICA, N.A.,  as Administrative Agent  By: /s/ Lisa Berishaj   Name: Lisa Berishaj   Title: Assistant Vice President        [Signature Page to Amendment No. 4 to Credit Agreement]       1397225 Ontario Limited  as Lender  By: /s/ Catherine Renwick   Name: Catherine Renwick   Title: Authorized Signatory          





 






    AB BSL CLO 1 Ltd.  As Lender    By: /s/ Reed McConnell  Name: Reed McConnell  Title: Corporate Actions Analyst            AB BSL CLO 2 Ltd.  As Lender    By: /s/ Reed McConnell  Name: Reed McConnell  Title: Corporate Actions Analyst      





 






    AB BSL CLO 3 Ltd.  As Lender    By: /s/ Reed McConnell  Name: Reed McConnell  Title: Corporate Actions Analyst              ABR Reinsurance LTD.  As Lender    By: BlackRock Financial Management, Inc., its Invest- ment Manager    By: /s/ Gina Forziati  Name: Fina Forziati   Title: Authorized Signatory        





 






    AgFirst FCB  As Lender    By: /s/ J. Michael Mancini, Jr.  Name: J. Michael Mancini, Jr.  Title: SVP, Capital Markets           AGCOUNTRY FARM CREDIT SERVICES, FLCA,   as Lender    By: /s/ Lisa Caswell  Name: Lisa Caswell  Title: Vice President       





 






    AIA Investment Management Private Limited, as Lender    By: BlackRock Financial Management, Inc., the  Investment Manager    By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           AIB Debt Management Ltd., as Lender    By: /s/ Mark Desmond  Name: Mark Desmond  Title: Assistant Vice President    By: /s/ David Smith  Name: David Smith  Title: Senior Vice President     AXA IM Inc. for and on behalf of Allegro CLO IV,  Limited., as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst     AXA IM Inc. for and on behalf of Allegro CLO IX,  Limited, as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst     AXA IM Inc. for and on behalf of Allegro CLO V, Lim- ited, as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst     AXA IM Inc. for and on behalf of Allegro CLO VI,  Limited, as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst     AXA IM Inc. for and on behalf of Allegro CLO VII,  Limited, as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst     AXA IM Inc. for and on behalf of Allegro CLO VIII  Ltd., as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst   





 






      AXA IM Inc., for and on behalf of Allegro CLO X, Lim- ited, as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst   AXA IM Inc. for and on behalf of Allegro CLO XI Lim- ited, as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst     AXA IM Inc. for and on behalf of Allegro CLO XII,  Ltd.    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst            Allegro CLO XIII, Ltd., as Lender    AXA IM Inc. for and on behalf of Allegro CLO XIII,  Ltd    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst     AXA IM Inc for and on behalf of Allegro CLO XIV,  Ltd., as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst        





 






    AXA IM Inc. for and on behalf of Allegro CLO XV,  Ltd., as Lender    By: /s/ Yumiko Licznerski  Name: Yumiko Liczernski  Title: Senior Credit Analyst              Apex Credit CLO 2018 Ltd., as Lender    By: /s/ Morris Cohen  Name: Morris Cohen  Title: Managing Director       





 






    Apex Credit CLO 2018-II Ltd., as Lender  By: /s/ Morris Cohen  Name: Morris Cohen  Title: Managing Director           Apex Credit CLO 2019 Ltd, as Lender    By: Apex Credit Partners, its Asset Manager    By: /s/ Morris Cohen  Name: Morris Cohen  Title: Managing Director       





 






    Apex Credit CLO 2020 Ltd., as Lender    By: Apex Credit Partners, its Asset Manager    By: /s/ Morris Cohen  Name: Morris Cohen  Title: Managing Director           Apex Credit CLO 2021 Ltd.  as Lender  By: Apex Credit Partners LLC, as Portfolio Manager  By: /s/ Morris Cohen  Name: Morris Cohen  Title: Managing Director       





 






    APIDOS CLO XI  as Lender  BY: Its Collateral Manager CVC Credit Partners, LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       APIDOS CLO XII  as Lender  BY: Its Collateral Manager CVC Credit Partners, LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    APIDOS CLO XV  as Lender  BY: Its Collateral Manager CVC Credit Partners, LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP           APIDOS CLO XVIII-R  as Lender  By: Its Collateral Manager CVC Credit Partners, LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    APIDOS CLO XX  as Lender  By: Its Collateral Manager CVC Credit Partners, LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP           Apidos CLO XXIII  as Lender  By: Its Collateral Manager, CVC Credit Partners, LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    APIDOS CLO XXIV  as Lender  By: Its Collateral Manager CVC Credit Partners, LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP           Apidos CLO XXIX  as Lender  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    APIDOS CLO XXV  as Lender  By: Its Collateral Manager CVC Credit Partners  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP           APIDOS CLO XXVI  as Lender  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    APIDOS CLO XXVII  as Lender  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP           Apidos CLO XXVIII  as Lender  By: Its Collateral Manager CVC CREDIT PARTNERS  U.S. CLO MANAGEMENT LLC,  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    Apidos CLO XXX  as Lender  By: Its Collateral Manager CVC CREDIT PARTNERS  U.S. CLO MANAGEMENT LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP           Apidos CLO XXXI  as Lender  By: Its Collateral Manager CVC CREDIT PARTNERS  U.S. CLO MANAGEMENT LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    Apidos CLO XXXII  as Lender  By: Its Collateral Manager CVC CREDIT PARTNERS  U.S. CLO MANAGEMENT LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP           Auburn CLO, Ltd.  as Lender  By: Guggenheim Partners Investment Management,  LLC as Collateral Manager  By: /s/ Kaitlin Trihn  Name: Kaitlin Trihn  Title: Authorized Person       





 






    AXA IM Paris SA for and on behalf of AXA IM Loan  Limited  as Lender  By: /s/ Yumiko Licznerski  Name: Yumiko Licznerski  Title: Senior Credit Analyst           Ballyrock CLO 14 Ltd.  as Lender  By: Ballyrock Investment Advisors LLC, as Collateral  Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory       





 






    Ballyrock CLO 15 Ltd.  as Lender  By: Ballyrock Investment Advisors LLC, as Collateral  Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory           Ballyrock CLO 16 LTD  as Lender  By: Ballyrock Investment Advisors LLC, as Collateral  Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory   





 






    Ballyrock CLO 17 Ltd.  as Lender  By: Ballyrock Investment Advisors LLC, as Collateral  Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory        Ballyrock CLO 18 Ltd.  as Lender  By: Ballyrock Investment Advisors LLC, as Collateral  Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory       





 






    Ballyrock CLO 2018-1 LTD  as Lender  By: BALLYROCK Investment Advisors LLC,  as Collateral Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory           Ballyrock CLO 2019-1 LTD  as Lender  By: Ballyrock Investment Advisors LLC, as  Collateral Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory       





 






    Ballyrock CLO 2019-2 Ltd.  as Lender  By: Ballyrock Investment Advisors LLC, as Collateral  Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory           Ballyrock CLO 2020-2 Ltd.  as Lender  By: Ballyrock Investment Advisors LLC, as Collateral  Manager  By: /s/ Christopher Maher  Name: Christopher Maher  Title: Authorized Signatory       





 






    BANK LOAN TRUST 1, A SERIES TRUST OF SIM  UMBRELLA UNIT TRUST A, as Lender  By Symetra Investment Management Company, acting  as its agent  By: /s/ Bing Tien  Name: Bing Tien  Title: Director           BANK OF AMERICA, N.A.,  as Lender  By: /s/ Miles Hanes  Name: Miles Hanes  Title: AVP       





 






    Barclays Bank PLC  as Lender  By: /s/ Jacqueline Custodio  Name: Jacqueline Custodio  Title: Authorized Signatory           Bardin Hill - Triton CLO 2022-1 Ltd.  as Lender  By: Bardin Hill Performing Credit Management as Col- lateral Manager  By: /s/ Dave Berger  Name: Dave Berger  Title: Authorized Signatory       





 






    Bardin Hill - Triton CLO 2021-1 Ltd.  as Lender  By: Bardin Hill Performing Credit Management as Col- lateral Manager  By: /s/ Dave Berger  Name: Berger, Dave  Title: Authorized Signatory           Bardin Hill CLO 2021-2 Ltd.  as Lender  By: Bardin Hill Performing Credit Management LLC   As Collateral Manager  By: /s/ Dave Berger  Name: Dave Berger  Title: Authorized Signatory       





 






    BBAM US CLO I, LTD  as Lender  BlueBay Asset Management USA LLC   acting as agent for:  BBAM US CLO I, Ltd.  By: /s/ Kevin Webb  Name: Kevin Webb  Title: Authorized Signatory           BBAM US CLO II, Ltd  as Lender  BlueBay Asset Management USA LLC   acting as agent for:  BBAM US CLO II, Ltd  By: /s/ Kevin Webb  Name: Kevin Webb  Title: Authorized Signatory       





 






    BBAM US CLO III, LTD.  as Lender  By: /s/ Kevin Webb  Name: Kevin Webb  Title: Authorized Signatory           BEAN CREEK CLO, LTD, as a Lender  By: /s/ Bryan Higgins  Name: Bryan Higgins  Title: Associate VP       





 






    Benefit Street Partners CLO V-B, Ltd.  as Lender  By: /s/ Seth Frink  Name: Seth Frink  Title: Authorized Signer           Benefit Street Partners CLO VI-B, Ltd.  as Lender   By: /s/ Seth Frink  Name: Seth Frink  Title: Authorized Signer       





 






    Benefit Street Partners CLO XXII, Ltd.  as Lender  By: /s/ Seth Frink  Name: Seth Frink  Title: Authorized Signer           Benefit Street Partners CLO XXIII, Ltd.  as Lender  By: /s/ Seth Frink  Name: Seth Frink  Title: Authorized Signer       





 






    Benefit Street Partners CLO XXV, Ltd.  as Lender  By: /s/ Seth Frink  Name: Seth Frink  Title: Authorized Signer           Benefit Street Partners CLO XXVI, Ltd.  as Lender  By: /s/ Seth Frink  Name: Seth Frink  Title: Authorized Signer   





 






    Benefit Street Partners CLO XXVII, Ltd.  as Lender  By: /s/ Seth Frink  Name: Seth Frink  Title: Authorized Signer           Black Diamond CLO 2017-1 Ltd.  as Lender  By: Black Diamond CLO 2017-1 Adviser, L.L.C.  As its Collateral Manager  By: /s/ Stephen H. Deckoff  Name: Stephen H. Deckoff  Title: Managing Principal       





 






    JPMBI re Blackrock Bankloan Fund  as Lender  By: BlackRock Financial Management Inc.,  as Sub-Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           BlackRock Credit Allocation Income Trust  as Lender  By: BlackRock Advisors, LLC, its Investment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       





 






    BlackRock Credit Strategies Fund  as Lender  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           BlackRock Debt Strategies Fund, Inc.  as Lender  BY: BlackRock Financial Management, Inc.,  its Sub-Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       





 






    BlackRock Dynamic High Income Portfolio of  BlackRock Funds II  as Lender  By: BlackRock Advisors, LLC, its Investment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           BlackRock Floating Rate Income Portfolio of  BlackRock Funds V  as Lender  By: BlackRock Advisors, LLC, its Investment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       





 






    BlackRock Floating Rate Income Strategies Fund, Inc.  as Lender  BY: BlackRock Financial Management, Inc.,  its Sub-Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           BlackRock Floating Rate Income Trust  as Lender  By: BlackRock Advisors, LLC, its Investment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       





 






    BlackRock Funds II, BlackRock Multi-Asset Income  Portfolio  as Lender  By: BlackRock Advisors, LLC, its Investment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           BlackRock Global Investment Series: Income Strategies  Portfolio  as Lender  By: BlackRock Financial Management, Inc.,  its Sub-Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       





 






    BlackRock Income Fund of BlackRock Funds V  as Lender  By: BlackRock Advisors, LLC, its Investment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           BlackRock Limited Duration Income Trust as Lender  By: BlackRock Financial Management, Inc., its Sub-Ad- visor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       





 






    BLACKROCK MANAGED INCOME FUND OF  BLACKROCK FUNDS II  as Lender  By: BlackRock Advisors LLC, its Investment Manager  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory           BlackRock Multi-Strategy Credit Master Fund Ltd.  as Lender  By BlackRock Financial Management Inc. Its Invest- ment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       





 






    BLUE SHIELD OF CALIFORNIA  as Lender  By: Credit Suisse Asset Management, LLC,  as its investment manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory           Boyd Watterson Limited Duration Enhanced Income  Fund  as Lender  By: /s/ Mike Krushena  Name: Mike Krushena  Title: EVP - Portfolio Manager       





 






    Bridge Street CLO I, Ltd.,  as Lender    By: /s/ Ted Gallivan  Name: Ted Gallivan  Title: Chief Financial Officer       Bridge Street CLO II, Ltd.  As Lender    By: /s/ Ted Gallivan  Name: Ted Gallivan  Title: Chief Financial Officer        





 






    Brisket Funding LLC, as Lender  By: CIFC Asset Management LLC, as Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       California Street CLO IX, Limited Partnership as  Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director   





 






    Canyon CLO 2016-1, Ltd.  as Lender  By: Canyon CLO Advisors LLC, its Collateral  Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory       Canyon CLO 2017-1, Ltd., as Lender  By: Canyon CLO Advisors LLC, its Collateral  Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory   





 






    Canyon CLO 2019-1, Ltd., as Lender  By: Canyon CLO Advisors LLC, its Collateral  Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory       Canyon CLO 2019-2, Ltd.  as Lender  By: Canyon CLO Advisors LLC,  its Collateral Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory   





 






    Canyon CLO 2020-2, Ltd., as Lender  By: Canyon CLO Advisors LLC, its Collateral  Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory       Canyon CLO 2020-3, Ltd., as Lender  By: Canyon CLO Advisors LLC, its Collateral  Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory   





 






    Canyon CLO 2021-3, Ltd., as Lender  By: Canyon CLO Advisors LLC, its Collateral  Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory       Canyon CLO 2021-4, Ltd.  as Lender  By: Canyon CLO Advisors LLC, its Collateral  Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory   





 






    Canyon CLO 2022-1, Ltd.  as Lender  By: Canyon CLO Advisors LLC  its Collateral Manager  By: /s/ Jonathan M. Kaplan  Name: Jonathan M. Kaplan  Title: Authorized Signatory       Carlyle C17 CLO, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director     





 






    Carlyle Global Market Strategies CLO 2012-3, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle Global Market Strategies CLO 2012-4, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director     





 






    Carlyle Global Market Strategies CLO 2013-3, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle Global Market Strategies CLO 2013-4, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle Global Market Strategies CLO 2014-1, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle Global Market Strategies CLO 2014-2-R,  Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle Global Market Strategies CLO 2014-3-R,  Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle Global Market Strategies CLO 2014-4-R,  Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle Global Market Strategies CLO 2014-5, Ltd.  as Lender  By:/s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle Global Market Strategies CLO 2015-1, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle Global Market Strategies CLO 2015- 4, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle Global Market Strategies CLO 2015- 5, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2017-1, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle US CLO 2017-2, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2017-3 Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle US CLO 2017-4, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2017-5 Ltd  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle US CLO 2018-1, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2018-2, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle US CLO 2018-3 Ltd  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2018-4 Ltd  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle US CLO 2019-1 Ltd  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2019-2 Ltd  as Lender  By:/s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director         Carlyle US CLO 2019-3, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2019-4, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle US CLO 2020-1, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2020-2, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director         Carlyle US CLO 2021-1, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    Carlyle US CLO 2021-2, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       Carlyle US CLO 2021-5, Ltd.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director     





 






    CBAM 2017-1, LTD.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director         CBAM 2017-2, LTD.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    CBAM 2017-3, LTD.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       CBAM 2017-4, LTD.  as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    CBAM 2018-5, LTD., as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       CBAM 2018-6, LTD., as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    CBAM 2018-7, Ltd., as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       CBAM 2018-8 Ltd., as Lender  By: CBAM CLO Management LLC, as Portfolio  Manager  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    CBAM 2019-10, Ltd., as Lender  By: CBAM CLO Management LLC as Portfolio  Manager  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director         CBAM 2019-11R, LTD., as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director     





 






    CBAM 2019-9, Ltd., as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director         CBAM 2020-12, Ltd., as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    CBAM 2020-13, Ltd., as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director       CBAM 2021-14, Ltd., as Lender  By: CBAM CLO Management LLC, as Portfolio  Manager  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director   





 






    CBAM 2021-15, LLC, as Lender  By: /s/ Lauren Basmadjian  Name: Lauren Basmadjian  Title: Managing Director         CFIP CLO 2014-1, Ltd., as Lender  By: CFI Partners, LLC, as Collateral Manager for  CFIP CLO 2014-1, Ltd.  By: /s/ David C. Dieffenbacher  Name: David C. Dieffenbacher  Title: Principal & Portfolio Manager   





 






    CFIP CLO 2017-1, Ltd., as Lender  By: CFI Partners, LLC, as Collateral Manager for  CFIP CLO 2017-1, Ltd.  By: /s/ David C. Dieffenbacher  Name: David C. Dieffenbacher  Title: Principal & Portfolio Manager       CFIP CLO 2018-1, Ltd., as Lender  By: CFI Partners, LLC, as Collateral Manager for  CFIP CLO 2018-1, Ltd.  By: /s/ David C. Dieffenbacher  Name: David C. Dieffenbacher  Title: Principal & Portfolio Manager   





 






    CFIP CLO 2021-1, Ltd., as Lender  By: CFI Partners, LLC, as Collateral Manager for  CFIP CLO 2021-1, Ltd.  By: /s/ David C. Dieffenbacher  Name: David C. Dieffenbacher  Title: Principal & Portfolio Manager       Chubb Bermuda Insurance Ltd., as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    Chubb Tempest Reinsurance Ltd., as Lender  by KKR FI Advisors LLC  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       CIFC Fenway Warehouse II Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2013-I, Ltd., as Lender  By: CIFC VS MANAGEMENT LLC, as Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2013-III-R Ltd., as Lender  By: CIFC VS Management LLC, as Collateral Man- ager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2013-IV, Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2014-IV-R, Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2014-V, Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2015-I, Ltd., as Lender  By: CIFC VS MANAGEMENT LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2015-III, Ltd., as Lender  By: CIFC VS Management LLC  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2017-V, Ltd., as Lender  By: CIFC CLO MANAGEMENT II LLC, as Col- lateral Manager  By and on behalf of each of its series, SERIES M-1,  SERIES O-1, and SERIES R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2017-I, Ltd., as Lender  By: CIFC CLO Management II LLC, its Collateral  Manager, by and on behalf of each of its series, Se- ries M-1, Series O-1 and Series RBy:  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager           CIFC Funding 2017-II, Ltd., as Lender  By: CIFC CLO Management LLC, its Collateral  Manager, by and on behalf of each of its series, Se- ries M-1, Series O-1 and Series R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2018-I, Ltd. as Lender  By: CIFC CLO MANAGEMENT II LLC, as Col- lateral Manager  By and on behalf of each of its series, SERIES M-1,  SERIES O-1, and SERIES R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager         CIFC Funding 2018-II, Ltd., as Lender  By: CIFC CLO Management II LLC, its Collateral  Manager, by and on behalf of each of its series, Se- ries M-1, Series O-1 and Series R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2018-III, Ltd., as Lender  By: CIFC CLO Management II LLC , its Collateral  Manager,  by and on behalf of each of its series, Series M-1,  Series O-1 and Series R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2018-IV, Ltd., as Lender  By: CIFC CLO Management II LLC, as Collateral  Manager  By and on behalf of each of its series, SERIES M-1,  SERIES O-1, and SERIES R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2018-V, Ltd., as Lender  By: CIFC CLO Management II LLC, its Collateral  Manager, by and on behalf of each of its series, Se- ries M-1, Series O-1 and Series R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2019-I, Ltd., as Lender  By: CIFC CLO MANAGEMENT II LLC, as Col- lateral Manager  By and on behalf of each of its series, SERIES M-1,  SERIES O-1, and SERIES R-1  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2019-IV, Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2019-VI, Ltd., as Lender  By: CIFC Asset Management LLC as Portfolio  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2020-II, Ltd, as Lender  By: CIFC Asset Management LLC, as Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager         CIFC Funding 2020-I, Ltd. as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2020-III, Ltd., as Lender  By: CIFC Asset Management LLC, as Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2021-I, Ltd, as Lender  By: CIFC Asset Management LLC, as Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2021-IV, Ltd., as Lender  By: CIFC Asset Management LLC, as Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2021-V, Ltd as Lender  By: CIFC Asset Management LLC, as Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2022-III, Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager       CIFC Funding 2022-IV, Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager   





 






    CIFC Funding 2022-V, Ltd., as Lender  By: CIFC Asset Management LLC, its Collateral  Manager  By: /s/ Michael Nespola  Name: Michael Nespola  Title: Managing Director, Portfolio Manager         Citi Loan Funding GCPH TRS LLC,  By: Citibank, N.A., as Lender  By: /s/ Cynthia Gonzalvo  Name: Cynthia Gonzalvo  Title: Sr Director     





 






    Citizens Insurance Company of America, as Lender  by Wellington Management Company  By: /s/ Donna Sirianni  Name: Donna Sirianni  Title: Vice President       Civil Aviation Authority Pension Scheme, as  Lender  By: BlackRock Financial Management, Inc., as  agent  for and on behalf of BlackRock Investment Man- agement (UK) Limited as Investment Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory   





 






    CLEAR CREEK CLO, LTD, as a Lender  By: /s/ Bryan Higgins  Name: Bryan Higgins  Title: Associate VP       COMMINGLED PENSION TRUST FUND  (FLOATING RATE INCOME) OF JPMORGAN  CHASE BANK, N.A. as Lender  By: /s/ Alex Sammarco  Name: Alex Sammarco  Title: Executive Director   





 






    Regimes d’Assurance de l’Industrie de la construc- tion du Quebec as Lender  By: BlackRock Asset Management Canada Limited  as Portfolio Manager and BlackRock Financial  Management Inc. as sub-advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory       COMPEER FINANCIAL, PCA, as Lender  By: /s/ Betty Janelle  Name: Betty Janelle  Title: Director, Capital Markets   





 






    CQS (UK) LLP acting solely in its capacity as in- vestment adviser and/or agent for and on behalf of,  CQS US CLO 2021-1, Ltd.as Lender  By: /s/ Sarah Higgins  Name: Sarah Higgins  Title: Authorised Signatory       CREDIT SUISSE FLOATING RATE HIGH  INCOME FUND, as Lender  By: Credit Suisse Asset Management, LLC, as in- vestment advisor  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory   





 






    CREDIT SUISSE SENIOR LOAN INVESTMENT  UNIT TRUST (for Qualified Institutional Investors  Only), as Lender  BY: Credit Suisse Asset Management, LLC, as in- vestment manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory       CVC Credit Partners Global Yield Master, L.P.  as Lender  By: Its Investment Manager CVC Credit Partners,  LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP       





 






    DEER CREEK CLO, LTD, as a Lender  By: /s/ Bryan Higgins  Name: Bryan Higgins  Title: Associate VP       East West Bank  as Lender  By: /s/ Maggie X. Wang  Name: Maggie X. Wang  Title: Assistant Vice President   





 






    ENDURANCE ASSURANCE CORPORATION,  as Lender  By: Credit Suisse Asset Management, LLC as In- vestment Manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Managing Director       Farm Credit Services, as Lender  Name: Brian Frevert  Title: VP     





 






    AXA IM Paris SA for and on behalf of FDNC US  Senior Loans, as Lender  By: /s/ Yumiko Licznerski  Name: Yumiko Licznerski  Title: Senior Credit Analyst       Fonds de Formation des Salaries de L'Industrie de  la Construction du Quebec, as Lender  By: BlackRock Asset Management Canada Limited  as  Portfolio Manager and BlackRock Financial Man- agement Inc.  as sub-advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory   





 






    Fort Washington CLO 2021-2, Ltd., as Lender   By: Fort Washington Investment Advisors Inc. as  Collateral Manager  By: /s/ Bernie M. Casey  Name: Bernie M. Casey  Title: ‘VP & Portfolio Manager       Fortress Credit BSL III Limited, as Lender  By: FC BSL Management LLC Series III, a desig- nated series of FC BSL Management LLC  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory   





 






    Fortress Credit BSL IX Limited as Lender  By: FC BSL IX Management LLC, its collateral  manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory       Fortress Credit BSL V Limited as Lender  By: FC BSL Management LLC Series V, a desig- nated series of FC BSL Management LLC, its col- lateral manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory   





 






    Fortress Credit BSL VI Limited as Lender  By: FC BSL VI Management LLC, its collateral  manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory       Fortress Credit BSL VII Limited as Lender  By: FC BSL VII Management LLC, its collateral  manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory   





 






    Fortress Credit BSL VIII Limited as Lender  By: FC BSL VIII Management LLC, its collateral  manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory       FORTRESS CREDIT BSL X LIMITED, as Lender  By: FC BSL X Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory   





 






    FORTRESS CREDIT BSL XI LIMITED, as Lender  By: FC BSL XI Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory       Fortress Credit BSL XII Limited as Lender  By: FC BSL XII Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory   





 






    Fortress Credit BSL XIII Limited as Lender  By: FC BSL XIII Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory       Fortress Credit BSL XIV Limited as Lender  By: FC BSL XIV Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory   





 






    FORTRESS CREDIT BSL XV LIMITED, as  Lender  By: FC BSL XV Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory       FORTRESS CREDIT BSL XVI LIMITED, as  Lender  By: FC BSL XVI Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory     





 






    FORTRESS CREDIT BSL XVII LIMITED, as  Lender  By: FC BSL XVII Management LLC, its Collateral  Manager  By: /s/ David Sharpe  Name: David Sharpe  Title: authorized signatory       Fyrkat Designated Activity Company, as Lender  By: Its Investment Advisor CVC Credit Partners,  LLC  By: /s/ Ashwin Nayak  Name: Ashwin Nayak  Title: VP   





 






    Gallatin CLO VIII 2017-1, Ltd.  as Lender  By: DCM Senior Credit, LLC  as its Collateral Administrator  By: /s/ Jeff Byrne  Name: Jeff Byrne  Title: Authorized Signatory       GCP CLO Warehouse CS 2022-A Ltd.  as Lender  By: OPAL BSL LLC, as Portfolio Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Generate CLO 10 Ltd. as Lender  By Generate Advisors LLC, its Portfolio Manager  By: /s/ Rizwan M. Akhter  Name: Rizwan M. Akhter  Title: Authorized Signatory       Generate CLO 2 Ltd as Lender  By Generate Advisors LLC, its Portfolio Manager  By: /s/ Rizwan M. Akhter  Name: Rizwan M. Akhter  Title: Authorized Signatory   





 






    Generate CLO 3, Ltd. as Lender  By Generate Advisors LLC, its Portfolio Manager  By: /s/ Rizwan M. Akhter  Name: Rizwan M. Akhter  Title: Authorized Signatory       Generate CLO 9 Ltd. as Lender  By Generate Advisors LLC, its Portfolio Manager  By: /s/ Rizwan M. Akhter  Name: Rizwan M. Akhter  Title: Authorized Signatory   





 






    Generate CLO 8 Ltd.  as Lender  By Generate Advisors LLC, its Portfolio  Manager  By: /s/ Rizwan M. Akhter  Name: Rizwan M. Akhter  Title: Authorized Signatory       GIM TRUST 2 - SENIOR SECURED LOAN  FUND  as Lender  By: /s/ Alex Sammarco  Name: Alex Sammarco  Title: Executive Director       





 






    Goldman Sachs Lending Partners LLC, as  Lender  By: /s/ Keshia Leday  Name: Keshia Leday  Title: Authorized Signatory         Goldman Sachs Trust II - Goldman Sachs Multi- Manager Non-Core Fixed Income Fund  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director   





 






    Golub Capital Partners CLO 19(B)-R, Ltd. as  Lender  By: GC Advisors LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory       Golub Capital Partners CLO 22(B)-R, Ltd. as  Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Golub Capital Partners CLO 23(B)-R, Ltd. as  Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory       Golub Capital Partners CLO 26(B)-R, Ltd. as  Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Golub Capital Partners CLO 35(B), Ltd. as Lender  By: GC Advisors LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory       Golub Capital Partners CLO 37(B), Ltd. as Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Golub Capital Partners CLO 40(B), Ltd. as Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory       Golub Capital Partners CLO 41(B)-R, Ltd.as  Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Golub Capital Partners CLO 43(B), Ltd. as Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory       Golub Capital Partners CLO 48(B), Ltd. as Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Golub Capital Partners CLO 50(B)-R, Ltd. as  Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory         Golub Capital Partners CLO 52(B), Ltd.  as Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Golub Capital Partners CLO 53(B), Ltd. as Lender  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory       Golub Capital Partners CLO 55(B), Ltd. as Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Golub Capital Partners CLO 58(B), Ltd.  as Lender  By: OPAL BSL LLC, as Asset Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory       Golub Capital Partners CLO 60(B), Ltd. as Lender  By: OPAL BSL LLC, as Collateral Manager  By: /s/ Lynne M. Sanders  Name: Lynne M. Sanders  Title: Designated Signatory   





 






    Guggenheim Funds Trust – Guggenheim Limited  Duration Fund as Lender  BY: Guggenheim Partners Investment Manage- ment, LLC as Investment Adviser  By: /s/ Kaitlin Trihn  Name: Kaitlin Trihn  Title: Authorized Person       Guggenheim Loan Master Fund, Ltd. as Lender  By: Guggenheim Partners Investment Management,  LLC as Manager  By: /s/ Kaitlin Trihn  Name: Kaitlin Trihn  Title: Authorized Person   





 






    Guggenheim U.S. Loan Fund  as Lender  By: Guggenheim Partners Investment Management,  LLC as Investment Manager  By: /s/ Kaitlin Trihn  Name: Kaitlin Trihn  Title: Authorized Person       Halcyon Loan Advisors Funding 2018-1 Ltd.  as Lender  By: /s/ Dave Berger  Name: Dave Berger  Title: Authorized Signatory   





 






    Halcyon Loan Advisors Funding 2018-2 Ltd as  Lender  By: Halcyon Loan Advisors 2018-2 LLC as Collat- eral Manager  By: /s/ Dave Berger  Name: Dave Berger  Title: Authorized Signatory       HYFI Aquamarine Loan Fund  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    INFLATION PROTECTION FUND I  SERIES, a series of the Wespath Funds Trust  as Lender  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory       ISMIE MUTUAL INSURANCE COMPANY  as Lender  By: Deutsche Investment Management Americas  Inc.  Investment Advisor  By: /s/ Michael J. Brideau  Name: Michael J. Brideau  Title: Analyst   





 






    JAMESTOWN CLO XV Ltd.  as Lender  By: Investcorp Credit Management US LLC,  as Portfolio Manager  By: /s/ Ricky Shah  Name: Ricky Shah  Title: Associate       Jamestown CLO XVI Ltd  as Lender  By: Investcorp Credit Management US LLC,  as Portfolio Manager  By: /s/ Ricky Shah  Name: Ricky Shah  Title: Associate   





 






    JAMESTOWN CLO XVII LTD.  as Lender  By: Investcorp Credit Management US LLC,  as Portfolio Manager  By: /s/ Ricky Shah  Name: Ricky Shah  Title: Associate       JFIN CLO 2013 LTD.  as Lender  By: Apex Credit Partners LLC, as Portfolio  Manager  By: /s/ Morris Cohen  Name: Morris Cohen  Title: Managing Director   





 






    JFIN CLO 2017-II Ltd.  as Lender  By: Apex Credit Partners LLC  By: /s/ Morris Cohen  Name: Morris Cohen  Title: Managing Director       JPMORGAN FLOATING RATE INCOME FUND  as Lender  By: /s/ Alex Sammarco  Name: Alex Sammarco  Title: Executive Director   





 






    JPMORGAN INCOME BUILDER FUND  as Lender  By: /s/ Alex Sammarco  Name: Alex Sammarco  Title: Executive Director       JPMORGAN STRATEGIC INCOME  OPPORTUNITIES FUND  as Lender  By: /s/ Alex Sammarco  Name: Alex Sammarco  Title: Executive Director   





 






    KKR CLO 10 LTD.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 11 LTD.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 12 LTD.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 14 Ltd.  as Lender  By:  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 15 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory         KKR CLO 16 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 18 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 20 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 21 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 22 Ltd  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 23 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 24 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 25 LTD.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 26 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 27 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 28 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 30 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR CLO 31 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 32 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory         KKR CLO 39 Ltd.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR CLO 9 LTD.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       KKR DAF SYNDICATED LOAN AND  HIGH YIELD FUND DESIGNATED  ACTIVITY COMPANY  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory   





 






    KKR FINANCIAL CLO 2013-1, LTD.  as Lender  By: /s/ Jeffrey Smith  Name: Jeffrey Smith  Title: Authorized Signatory       LEO Funding I Limited as Lender  BlueBay Asset Management LLC acting as agent  for:  LEO Funding I Limited  By: /s/ Kevin Webb  Name: Kevin Webb  Title: Authorized Signatory     





 






    Madison Park Funding LI, Ltd. as Lender  By: Credit Suisse Asset Management LLC, as Port- folio Manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Managing Director       Madison Park Funding LIII, Ltd. as Lender  By: Credit Suisse Asset Management, LLC, as port- folio manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Managing Director   





 






    Madison Park Funding LV, Ltd. as Lender  By: Credit Suisse Asset Management, LLC, as Port- folio Manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Managing Director       Madison Park Funding XIX, Ltd. as Lender  By: Credit Suisse Asset Management, LLC, as col- lateral manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory   





 






    Madison Park Funding XLIII, Ltd. as Lender  By: Credit Suisse Asset Management, LLC, as port- folio manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory       Madison Park Funding XLVIII, Ltd as Lender  By: Credit Suisse Asset Management, LLC, as Port- folio Manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory   





 






    Madison Park Funding XX, Ltd. as Lender  By: Credit Suisse Asset Management, LLC, as port- folio manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory       Madison Park Funding XXIX, Ltd. as Lender  By: Credit Suisse Asset Management, LLC, as Col- lateral Manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory   





 






    MADISON PARK FUNDING XXXIII, LTD. as  Lender  By: Credit Suisse Asset Management, LLC, as Col- lateral Manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory       Madison Park Funding LVII, Ltd. as Lender  By: Credit Suisse Asset Management, LLC, as Port- folio Manager  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Managing Director     





 






    MAM CORPORATE LOAN FUND as Lender  By: MARATHON ASSET MANAGEMENT, L.P.  Its Investment Manager  By: /s/ Louis Hanover  Name: Louis Hanover  Title: Authorized Signatory       Marathon CLO 2021-16 Ltd.  as Lender  By: /s/ Louis Hanover  Name: Louis Hanover  Title: Authorized Signatory   





 






    Marathon CLO 2021-17 Ltd.  as Lender  By Marathon Asset Management L.P.  Its Portfolio Manager  By: /s/ Louis Hanover  Name: Louis Hanover  Title: Authorized Signatory       Menard, Inc.  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director   





 






    Metropolitan West Floating Rate Income Fund as  Lender  By: Metropolitan West Asset Management LLC,  acting solely as its investment manager  By: /s/ Howard Mo  Name: Howard Mo  Title: Senior Vice President       Minnesota State Board of Investment as Lender  by Payden & Rygel as Investment Adviser  By: /s/ David Scott  Name: David Scott  Title: Senior Fixed Income Trader   





 






    Morgan Stanley Bank, N.A.  as Lender  By: /s/ : TJ Mahindra  Name: TJ Mahindra  Title: Authorized Signatory       Multi-Strategy Credit Fund as Lender  By: BlackRock Financial Management Inc., as Sub- Advisor  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory   





 






    Navy Pier NON IG Credit Fund a Series Trust of  Income Investment Trust as Lender  By: Neuberger Berman Investment Advisers LLC  as Investment Manager  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory       NC GARNET FUND, L.P. as Lender  By: NC Garnet Fund (GenPar), LLC, its general  partner  By: BlackRock Financial Management, Inc. its  manager  By: /s/ Gina Forziati  Name: Gina Forziati  Title: Authorized Signatory   





 






    Neuberger Berman Loan Advisers CLO 40, Ltd as  Lender  By: Neuberger Berman Loan Advisers LLC as Col- lateral Manager  By: Neuberger Berman Investment Advisers LLC  as Sub-Advisor  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory       Neuberger Berman Loan Advisers CLO 41, Ltd.  as Lender  By: Neuberger Berman Loan Advisers LLC as  Collateral Manager  By: Neuberger Berman Investment Advisers  LLC as Sub-Advisor  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory   





 






    Neuberger Berman Loan Advisers CLO 44, Ltd.  as Lender  By: Neuberger Berman Loan Advisers LLC as  Collateral Manager  By: Neuberger Berman Investment Advisers  LLC as Sub-Advisor  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory       Neuberger Berman Loan Advisers CLO 46 Ltd.  as Lender  By: Neuberger Berman Loan Advisers II LLC  as Collateral Manager  By: Neuberger Berman Investment Advisers  LLC as Sub-Adviser  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory   





 






    Neuberger Berman Loan Advisers CLO 47, Ltd  as Lender  By: Neuberger Berman Loan Advisers II LLC as  Collateral Manager  By: Neuberger Berman Investment Advisers LLC  as Sub-Adviser  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory       Neuberger Berman Loan Advisers CLO 43, Ltd.  as Lender  By: Neuberger Berman Loan Advisers LLC as Col- lateral Manager  By: Neuberger Berman Investment Advisers LLC  as Sub-Advisor  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory   





 






    New Mountain CLO 1 Ltd  as Lender  By: /s/ Ivo Turkedjiev  Name: Ivo Turkedjiev  Title: Authorized Signatory       New Mountain CLO 2 Ltd  as Lender  By: /s/ Ivo Turkedjiev  Name: Ivo Turkedjiev  Title: Authorized Signatory   





 






    Nuveen Floating Rate Income Fund as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director       Nuveen Floating Rate Income Opportunity Fund  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director   





 






    Nuveen Senior Income Fund  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director       Nuveen Senior Loan Fund, L.P.  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director   





 






    Nuveen Short Duration Credit Opportunities Fund  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director       OCP CLO 2015-9, Ltd.  as Lender  By: Onex Credit Partners, LLC,  as Portfolio Manager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager   





 






    OCP CLO 2016-12, Ltd.  as Lender  By: Onex Credit Partners, LLC,  as Portfolio Manager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager       OCP CLO 2017-13, Ltd.  as Lender  By: Onex Credit Partners, LLC, as Portfolio Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager   





 






    OCP CLO 2018-15, Ltd.  as Lender  By: Onex Credit Partners, LLC, as Portfolio Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager       OCP CLO 2019-16, Ltd.  as Lender  By: Onex Credit Partners, LLC, as Portfolio Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager   





 






    OCP CLO 2020-19, Ltd.  as Lender  by Onex Credit Partners, LLC, as Portfolio Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager       OCP CLO 2021-21, Ltd.  as Lender  By: Onex Credit Partners, LLC, its Collateral Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager   





 






    OCP CLO 2021-22, Ltd.  as Lender  By: Onex Credit Partners, LLC, its Collateral Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager       OCP CLO 2022-24, Ltd.  as Lender  by Onex Credit Partners, LLC, as Portfolio Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager   





 






    OCP CLO 2022-25, Ltd.  as Lender  By Onex Credit Partners, LLC, as Portfolio Man- ager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager       OHA Credit Funding 11, Ltd. as Lender  By: Oak Hill Advisors L.P. as Portfolio Manager  By: /s/ Alan Schrager  Name: Alan Schrager  Title: Authorized Signatory   





 






    OHA Credit Funding 12, Ltd. as Lender  By: Oak Hill Advisors, L.P. as Portfolio Manager  By: /s/ Alan Schrager  Name: Alan Schrager  Title: Authorized Signatory         OSD CLO 2021-23, Ltd.  as Lender  by Onex Credit Partners, LLC, as Portfolio  Manager  By: /s/ Prasad Krishnan  Name: Prasad Krishnan  Title: Portfolio Manager   





 






    OZLM FUNDING II, LTD.  as Lender  By: Sculptor Loan Management LP, its portfolio  manager  By: Sculptor Loan Management LLC, its general  partner  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer       OZLM IX, LTD.  as Lender  By: Sculptor Loan Management LP, its  portfolio manager  By: Sculptor Loan Management LLC, its  general partner  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer   





 






    OZLM VI, LTD.  as Lender  By: Sculptor Loan Management LP, its  portfolio manager  By: Sculptor Loan Management LLC, its  general partner  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer       OZLM XV, LTD.  as Lender  By: Sculptor Loan Management LP, its  portfolio manager  By: Sculptor Loan Management LLC, its  general partner  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer   





 






    OZLM XVII, Ltd.  as Lender  By: OZ CLO Management LLC, its collateral  manager  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer       OZLM XVIII, LTD  as Lender  By: Sculptor Loan Management LP, its  portfolio manager  By: Sculptor Loan Management LLC, its  general partner  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer   





 






    OZLM XX, LTD  as Lender  By: Sculptor Loan Management LP, its  portfolio manager  By: Sculptor Loan Management LLC, its  general partner  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer       OZLM XXI Ltd.  as Lender  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer   





 






    OZLM XXII, Ltd.  as Lender  By: OZ CLO Management LLC, its collateral  manager  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer       OZLM XXIII, Ltd.  as Lender  By: Sculptor Loan Management LP, its  portfolio manager  By: Sculptor Loan Management LLC, its  general partner  By: /s/ Wayne Cohen  Name: Wayne Cohen  Title: President and Chief Operating Officer   





 






    DoubleLine Capital LP as Collateral Manager  to: Parallel 2017-1 Ltd.  as Lender  By: /s/ Oi Jong Martel  Name: Oi Jong Martel  Title: Authorized Signatory       Partners Group Private Equity (Master Fund), LLC  as Lender    By: Partners Group (UK) Management Ltd,  under power of attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]   





 






    PAYDEN FLOATING RATE FUND  as Lender  BY: Payden & Rygel as Investment Adviser  By: /s/ David Scott  Name: David Scott  Title: Senior Fixed Income Trader       PG Global Income First Lien Loan Designated  Activity Company  as Lender    By Partners Group (UK) Management Ltd,  under power of attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]   





 






    Pikes Peak CLO 1,  as Lender    Partners Group US Management CLO LLC as Col- lateral Manager for Pikes Peak CLO 1 Partners  Group (UK) Management Ltd, under power of at- torney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director       Pikes Peak CLO 10  as Lender    By: Partners Group (UK) Management Ltd,  under power of attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director   





 






    Pikes Peak CLO 11 Ltd  as Lender    By Partners Group UK Management Ltd,  under power of attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]       Pikes Peak CLO 2  as Lender  Partners Group US Management CLO LLC as Col- lateral Manager for Pikes Peak CLO 2 Partners  Group (UK) Management Ltd, under power of at- torney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By:/s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]   





 






    Pikes Peak CLO 3  as Lender    Partners Group US Management CLO LLC as  Collateral Manager for Pikes Peak CLO 3  Partners Group (UK) Management Ltd, under  power of attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]       Pikes Peak CLO 4  as Lender  Partners Group US Management CLO LLC as Col- lateral Manager for Pikes Peak CLO 4  By Partners Group (UK) Management Ltd, under  power of Attorney  By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]   





 






    Pikes Peak CLO 5  as Lender    By Partners Group (UK) Management Ltd,  under power of attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]       Pikes Peak CLO 6  as Lender  Partners Group US Management CLO LLC as  Collateral Manager for Pikes Peak CLO 6  By Partners Group (UK) Management Ltd,  under power of Attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Ysebaert, Surya  Title: Managing Director     





 






    Pikes Peak CLO 7  as Lender  Partners Group US Management CLO LLC as Col- lateral Manager for Pikes Peak CLO 7 By Partners  Group (UK) Management Ltd, under power of at- torney  By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]       Pikes Peak CLO 8  as Lender    By Partners Group UK Management Ltd,  under power of attorney    By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director    [If a second signature is necessary:  By: /s/ Surya Ysebaert  Name: Surya Ysebaert  Title: Managing Director]     





 






    Pikes Peak CLO 9  as Lender  By Partners Group (UK) Management Ltd,  under power of attorney  By: /s/ Andrew Bellis  Name: Andrew Bellis  Title: Managing Director       PPM CLO 2 Ltd.  as Lender  By: PPM Loan Management Company, LLC,  as Asset Manager  By: /s/ Michael Sterne  Name: Michael Sterne  Title: Assistant Vice President   





 






    PPM CLO 2018-1 Ltd.  as Lender  By: /s/ Michael Sterne  Name: Michael Sterne  Title: Assistant Vice President       PPM CLO 2022-7 Ltd.  as Lender  By: PPM Loan Management Company, LLC,  as Portfolio Manager  By: /s/ Michael Sterne  Name: Michael Sterne  Title: Assistant Vice President   





 






    PPM CLO 3 Ltd.  as Lender  By: PPM Loan Management Company, LLC,  as Portfolio Manager  By: /s/ Michael Sterne  Name: Michael Sterne  Title: Assistant Vice President       PPM CLO 4 Ltd.  as Lender  By: /s/ Michael Sterne  Name: Michael Sterne  Title: Assistant Vice President   





 






    PPM CLO 5 Ltd.  as Lender  By: PPM Loan Management Company, LLC,  as Portfolio Manager  By: /s/ Michael Sterne  Name: Michael Sterne  Title: Assistant Vice President       Quaestio Alternative Funds S.C.A., SICAVFIS  as Lender  By: Neuberger Berman Investment Adviser LLC  By: /s/ Colin Donlan  Name: Colin Donlan  Title: Authorized Signatory   





 






    Rad CLO 10, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO       Rad CLO 11, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO   





 






    Rad CLO 12, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO       Rad CLO 14, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO   





 






    Rad CLO 15, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO       Rad CLO 2, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO   





 






    Rad CLO 2021-J, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO        Rad CLO 3, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO   





 






    Rad CLO 4, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO       Rad CLO 5, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO   





 






    Rad CLO 6, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO       Rad CLO 7, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO   





 






    Rad CLO 9, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO       Rad CLO 1, Ltd.  as Lender  By: /s/ John Eanes  Name: John Eanes  Title: Co-CEO   





 






    Regatta II Funding LP  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Melanie Hanlon  Title: Managing Director       REGATTA IX FUNDING LTD.  as Lender  By: Regatta Loan Management LLC, its Collateral  Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director   





 






    Regatta VI Funding Ltd  as Lender  By: Regatta Loan Management LLC, its Collateral  Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director       Regatta VII Funding Ltd  as Lender  By: Regatta Loan Management LLC, its Collateral  Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director   





 






    REGATTA VIII FUNDING LTD  as Lender  By: Regatta Loan Management LLC, its Collateral  Manager  By: /s/ Melanie Hanlon  Name: Melanie Hanlon  Title: Managing Director       REGATTA X FUNDING LTD.  as Lender  By: Regatta Loan Management LLC,  its Collateral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director   





 






    REGATTA XI FUNDING LTD.  as Lender  By: Regatta Loan Management LLC,  its Collateral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director         Regatta XII Funding Ltd.  as Lender  By: Regatta Loan Management LLC, its Collateral  Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director   





 






    Regatta XIII Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Melanie Hanlon  Title: Managing Director       Regatta XIV Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Melanie Hanlon  Title: Managing Director   





 






    Regatta XIX Funding Ltd  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director       Regatta XV Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Melanie Hanlon  Title: Managing Director   





 






    Regatta XVI Funding Ltd.  as Lender  By: Regatta Loan Management LLC, its Collateral  Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director        Regatta XVII Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director   





 






    Regatta XVIII Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director       Regatta XX Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director   





 






    Regatta XXI Funding Ltd  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director         Regatta XXII Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Hanlon, Melanie  Title: Managing Director   





 






    Regatta XXIII Funding Ltd  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Melanie Hanlon  Title: Managing Director       Regatta XXIV Funding Ltd.  as Lender  By: Napier Park Global Capital (US) LP, its Collat- eral Manager  By: /s/ Melanie Hanlon  Name: Melanie Hanlon  Title: Managing Director   





 






    ROSE HILL SENIOR LOAN FUND, a series trust  of Credit Suisse Horizon Trust  as Lender  By: Credit Suisse Asset Management, LLC,  the investment manager for  Maples Trustee Services (Cayman) Limited,   the Trustee for  Rose Hill Senior Loan Fund, a series trust of Credit  Suisse Horizon Trust  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory       Sandstone Peak Ltd.  as Lender  By: Beach Point CLO Management LLC  Its Portfolio Manager  By: /s/ : Carl Goldsmith  Name: Carl Goldsmith  Title: Co-Chief Investment Officer   





 






    Saratoga Investment Corp. CLO 2013-1, Ltd.  as Lender  By: /s/ Pavel Antonov  Name: Pavel Antonov  Title: Attorney In Fact       Saratoga Investment Corp Senior Loan Fund 2021-1  Ltd  as Lender  by Saratoga Senior Loan Fund I JV, LLC as Invest- ment Manager  By: /s/ Pavel Antonov  Name: Pavel Antonov  Title: Attorney In Fact   





 






    Shackleton 2013-III CLO, Ltd.  as Lender  BY: Alcentra NY, LLC, as investment advisor  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President       Shackleton 2013-IV-R CLO Ltd.  as Lender  by Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President   





 






    Shackleton 2014-V-R CLO Ltd.  as Lender  by Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President       Shackleton 2015-VII-R CLO, Ltd.  as Lender  by Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President   





 






    Shackleton 2017-X CLO, Ltd  as Lender  by Alcentra NY, LLC as its Collateral  Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President         Shackleton 2017-XI CLO, LTD.  as Lender  by Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President   





 






    Shackleton 2018-XII CLO, LTD.  as Lender  by Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President         Shackleton 2019-XIV CLO, Ltd.  as Lender  by Alcentra NY, LLC as its Collateral Manager  By:/s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President    





 






    Shackleton 2019-XV CLO, LTD.  as Lender  By Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President       SHACKLETON 2021-XVI CLO, LTD.  as Lender  By Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President     





 






    SHACKLETON 2022-XVII CLO, LTD.  as Lender  By Alcentra NY, LLC as its Collateral Manager  By: /s/ Ritesh Patel  Name: Ritesh Patel  Title: Vice President        Signal Peak CLO 1, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director   





 






    Signal Peak CLO 10, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director       Signal Peak CLO 2, LLC  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director   





 






    Signal Peak CLO 3, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director         Signal Peak CLO 4, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director   





 






    Signal Peak CLO 5, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director       Signal Peak CLO 6, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director   





 






    Signal Peak CLO 7, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson         Signal Peak CLO 8, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director     





 






    Signal Peak CLO 9, Ltd.  as Lender  By: /s/ Brad Willson  Name: Brad Willson  Title: Managing Director         SILVER CREEK CLO, LTD, as a Lender  By: /s/ Bryan Higgins  Name: Bryan Higgins  Title: Associate VP     





 






    State Street Bank and Trust Company,  as Lender  By: /s/ Karen A. Gallagher  Name: Karen A. Gallagher  Title: Managing Director         Swiss Capital Alternative Strategies Funds SPC: SC  Alternative Strategy 12 SP  as Lender  By: /s/ Dave Berger  Name: Dave Berger  Title: Authorized Signatory     





 






    Sycamore Tree CLO 2021-1, Ltd  as Lender  By: Sycamore Tree Capital Partners  By: /s/ Rahim Hussain  Name: Rahim Hussain  Title: Director of Operations       SYMETRA LIFE INSURANCE COMPANY  as Lender  By Symetra Investment Management Company,  acting as its agent  By: /s/ Bing Tien  Name: Bing Tien  Title: Director     





 






    Symphony CLO 34-PS, Ltd.  as Lender  By: Symphony Alternative Asset Management LLC  - Series 1 - Management Series, as collateral man- ager  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director       Symphony CLO XV, Ltd  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director   





 






    Symphony CLO XXVIII, LTD  as Lender  By: Symphony Alternative Asset Management  LLC, acting through its Series-1 Management Se- ries  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director         Symphony CLO XXXI, Ltd.  as Lender  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director   





 






    Symphony CLO XXXII, Ltd.  as Lender  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director       Symphony CLO XXXIII, Ltd.  as Lender  By: Symphony Alternative Asset Management LLC  -  Series 1 - Management Series, as collateral  manager  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director     





 






    TCI-Symphony CLO 2017-1 Ltd.  as Lender  By: Nuveen Asset Management, LLC  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director         TCW CLO 2017-1, LTD.  as Lender  TCW Asset Management Company LLC As  Asset Manager  By: /s/ Howard Mo  Name: Howard Mo  Title: Senior Vice President     





 






    TCW CLO 2018-1, LTD  as Lender  TCW Asset Management Company LLC  As Asset Manager  By: /s/ Howard Mo  Name: Howard Mo  Title: Senior Vice President       TCW CLO 2021-1, Ltd  as Lender  TCW Asset Management Company LLC  As Asset Manager  By: /s/ Howard Mo  Name: Howard Mo  Title: Senior Vice President     





 






    TCW CLO 2021-2, Ltd.  as Lender  TCW Asset Management Company LLC  As Asset Manager  By: /s/ Howard Mo  Name: Howard Mo  Title: Senior Vice President         TELOS CLO 2013-4, Ltd.  as Lender  By: Atalaya Capital Telos LLC as Collateral  Manager  By: /s/ Morris Macleod  Name: Morris Macleod  Title: Managing Director     





 






    The Hanover Insurance Company  as Lender  by Wellington Management Company  By: /s/ Donna Sirianni  Name: Donna Sirianni  Title: Vice President         The Hartford Short Duration Fund  as Lender  By: Wellington Management Company, LLP  as its Investment Adviser  By: /s/ Donna Sirianni  Name: Donna Sirianni  Title: Vice President     





 






    The Hartford Strategic Income Fund  as Lender  By: Wellington Management Company, LLP  as its Investment Adviser  By: /s/ Donna Sirianni  Name: Donna Sirianni  Title: Vice President         Teachers Advisors, Inc., on behalf of TIAA CLO I,  Ltd  as Lender  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director     





 






    Teachers Advisors, LLC on behalf of TIAA CLO  III Ltd  as Lender  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director         TIAA CLO IV Ltd.  as Lender  By: Teachers Advisors, LLC, on behalf of  TIAA CLO IV, Ltd  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director     





 






    Teachers Advisors, Inc., on behalf of TIAACREF  Core Bond Fund  as Lender  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director         Teachers Advisors, Inc., on behalf of TIAACREF  Core Plus Bond Fund  as Lender  By: /s/ Ron Poyle  Name: Ron Poyle  Title: Director     





 






    Tralee CLO VII, Ltd.  as Lender  by: Par-Four CLO Management, LLC as Collateral  Manager  By: /s/ Dennis Gorczyca  Name: Dennis Gorczyca  Title: Managing Director         Trysail CLO 2021-1, Ltd  as Lender  By: Sancus Credit Advisors LP as Collateral  Manager  By: /s/ Andrew Maria  Name: Andrew Maria  Title: Senior Portfolio Manager     





 






    Venture 44 CLO, Limited  as Lender  By: its investment advisor  MJX Asset Management LLC  By: /s/ Lewis Brown  Name: Lewis Brown  Title: Managing Director/ Head of Trading         VENTURE XIII CLO, Limited  as Lender  By: its Investment Advisor  MJX Venture Management LLC  By: /s/ Lewis Brown  Name: Lewis Brown  Title: Managing Director / Head of Trading    





 






    VENTURE XIV CLO, Limited  as Lender  By: its investment advisor  MJX Venture Management LLC  By: /s/ Lewis Brown  Name: Lewis Brown  Title: Managing Director / Head of Trading         Venture XXVII CLO, Limited  as Lender  By: its investment advisor  MJX Venture Management II LLC  By: /s/ Lewis Brown  Name: Lewis Brown  Title: Managing Director / Head of Trading     





 






    Venture XXVIII CLO, Limited  as Lender  By: its investment advisor  MJX Venture Management II LLC  By: /s/ Lewis Brown  Name: Lewis Brown  Title: Managing Director / Head of Trading         Wellfleet CLO 2017-2, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager       





 






    Wellfleet CLO 2017-3, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager         Wellfleet CLO 2018-1, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager     





 






    Wellfleet CLO 2018-2, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager           Wellfleet CLO 2018-3, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager    





 






    Wellfleet CLO 2019-1, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager           Wellfleet CLO 2020-1, LTD  as Lender  By: Wellfleet Credit Partners LLC  as Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager       





 






    Wellfleet CLO 2020-2, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager         Wellfleet CLO 2021-1, Ltd.  as Lender  (fka Wellfleet CLO 2020-3, Ltd.)  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager     





 






    Wellfleet CLO 2021-2, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager         Wellfleet CLO 2021-3, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager       





 






    Wellfleet CLO X, Ltd.  as Lender  By: Wellfleet Credit Partners, LLC  As Collateral Manager  By: /s/ Dennis Talley  Name: Dennis Talley  Title: Portfolio Manager       Wellington Trust Company, National Association  Multiple Common Trust Funds Trust Bank Loan  Portfolio  as Lender  By: Wellington Management Company LLP, as its  Investment Adviser  By: /s/ Donna Sirianni  Name: Donna Sirianni  Title: Vice President       





 






    Wells Fargo Bank, National Association  as Lender  By: /s/ Craig Remsen  Name: Craig Remsen  Title: Director           WESPATH FUNDS TRUST  as Lender  By: Credit Suisse Asset Management, LLC,  the investment adviser for UMC Benefit Board,  Inc.,  the trustee for Wespath Funds Trust  By: /s/ Thomas Flannery  Name: Thomas Flannery  Title: Authorized Signatory       





 






    York CLO-1 Ltd.   as Lender    By: York CLO Managed Holdings LLC, its Portfo- lio Manager    By: /s/ Rizwan M. Akhter  Name: Rizwan M. Akhter  Title: Authorized Signatory  #95982248v17   EXHIBIT A    Published Deal CUSIP: 91809EAA9  Term Loan – 1st Lien CUSIP:  91809EAE1    FIRST LIEN TERM LOAN CREDIT AGREEMENT      Dated as of November 21, 2017    as amended by Amendment No. 1 to Credit Agreement dated as of July 23, 2020  as amended by Amendment No. 2 to Credit Agreement dated as of January 20, 2021  and as amended by Amendment No. 3 to Credit Agreement dated as of June 22, 2021  and as amended by Amendment No. 4 to Credit Agreement dated as of September 22, 2022    among    UTZ QUALITY FOODS, LLC,  as the Borrower,    UTZ BRANDS HOLDINGS, LLC (f/k/a/ UM-U INTERMEDIATE, LLC),  UM-R INTERMEDIATE, LLC and  SRS LEASING, LLC,  each as a Parent,    BANK OF AMERICA, N.A.,  as Administrative Agent and Collateral Agent,  THE LENDERS PARTY HERETO,  BANK OF AMERICA, N.A.,  GOLDMAN SACHS BANK USA,  MANUFACTURERS AND TRADERS TRUST COMPANY and  PNC CAPITAL MARKETS LLC,    as Joint Lead Arrangers and Joint Bookrunners      





 






#95982248v17   Table of Contents    Page    ARTICLE I    Definitions and Accounting Terms    Section 1.01 Defined Terms  12  Section 1.02 Other Interpretive Provisions 156  Section 1.03 Accounting Terms 157  Section 1.04 Rounding 157  Section 1.05 References to Agreements, Laws, Etc. 157  Section 1.06 Times of Day 157  Section 1.07 Timing of Payment or Performance 158  Section 1.08 Currency Equivalents Generally 158  Section 1.09 Certain Calculations and Tests 158  Section 1.10 Inability to Determine Rates   1    ARTICLE II    The Term Commitments and Credit Extensions    Section 2.01 The Term Borrowings 159  Section 2.02 Borrowings, Conversions and Continuations of Loans 160  Section 2.03 [Reserved] 162  Section 2.04 [Reserved] 162  Section 2.05 Prepayments 162  Section 2.06 Termination or Reduction of Term Commitments 169  Section 2.07 Repayment of Loans 169  Section 2.08 Interest 170  Section 2.09 Fees 170  Section 2.10 Computation of Interest and Fees 170  Section 2.11 Evidence of Indebtedness 170  Section 2.12 Payments Generally 171  Section 2.13 Sharing of Payments 172  Section 2.14 Incremental Credit Extensions 173  Section 2.15 Extensions of Term Loans. 175  Section 2.16 Defaulting Lenders 177  Section 2.17 Permitted Debt Exchanges 177    ARTICLE III    Taxes, Increased Costs Protection and Illegality    Section 3.01 Taxes 180  Section 3.02 Inability to Determine Rates 183  Section 3.03 Increased Cost and Reduced Return; Capital Adequacy; Reserves on  Eurocurrency RateTerm SOFR Loans 185  Section 3.04 Funding Losses 186  Section 3.05 Matters Applicable to All Requests for Compensation 187    -i-  #95982248v17   Page    Section 3.06 Replacement of Lenders under Certain Circumstances 188  Section 3.07 Illegality 189  Section 3.08 Survival 189  ARTICLE IV  Conditions Precedent to Credit Extensions    Section 4.01 Conditions to Closing Date 189  Section 4.02 Conditions to Subsequent Credit Extensions 191    ARTICLE V    Representations and Warranties  Section 5.01 Existence, Qualification and Power; Compliance with Laws 191  Section 5.02 Authorization; No Contravention 192  Section 5.03 Governmental Authorization; Other Consents 192  Section 5.04 Binding Effect 192  Section 5.05 Financial Statements; No Material Adverse Effect 192  Section 5.06 Litigation 193  Section 5.07 Ownership of Property; Liens 193  Section 5.08 Environmental Matters 193  Section 5.09 Taxes 194  Section 5.10 Compliance with ERISA 194  Section 5.11 Subsidiaries; Equity Interests 194  Section 5.12 Margin Regulations; Investment Company Act 194  Section 5.13 Disclosure  195  Section 5.14 Intellectual Property; Licenses, Etc. 195  Section 5.15 Solvency 195  Section 5.16 Collateral Documents 195  Section 5.17 Use of Proceeds 195  Section 5.18 Sanctions Laws and Regulations and Anti-Corruption Laws 196  ARTICLE VI  Affirmative Covenants  Section 6.01 Financial Statements  196  Section 6.02 Certificates; Other Information  197  Section 6.03 Notices  199  Section 6.04 Maintenance of Existence  199  Section 6.05 Maintenance of Properties  199  Section 6.06 Maintenance of Insurance  199  Section 6.07 Compliance with Laws  199  Section 6.08 Books and Records 1100  Section 6.09 Inspection Rights 1100  Section 6.10 Covenant to Guarantee Obligations and Give Security 1100  Section 6.11 Use of Proceeds 1101  Section 6.12 Further Assurances and Post-Closing Covenants 1101  -ii-  





 






#95982248v17   Page  Section 6.13 Designation of Subsidiaries 1101  Section 6.14 Payment of Taxes  1102  Section 6.15 Nature of Business 1102  Section 6.16 Maintenance of Rating of the Borrower and the Facilities 1102  Section 6.17 [Reserved] 1102    ARTICLE VII    Negative Covenants    Section 7.01 Liens 1102  Section 7.02 Investments 1106  Section 7.03 Indebtedness 1109  Section 7.04 Fundamental Changes 1114  Section 7.05 Dispositions 1116  Section 7.06 Restricted Payments 1118  Section 7.07 Transactions with Affiliates 1120  Section 7.08 Prepayments, Etc., of Indebtedness 1122  Section 7.09 [Reserved] 1122  Section 7.10 Negative Pledge and Subsidiary Distributions 1122  Section 7.11 Change of Fiscal Year 1124  Section 7.12 Material Real Property 1[Reserved] 124  Section 7.13 [Reserved]  1124  ARTICLE VIII  Events of Default and Remedies    Section 8.01 Events of Default 1124  Section 8.02 Remedies Upon Event of Default 1126  Section 8.03 Exclusion of Immaterial Subsidiaries 1126  Section 8.04 Application of Funds 1126    ARTICLE IX    Administrative Agent and Other Agents    Section 9.01 Appointment and Authorization of Agents 1127  Section 9.02 Delegation of Duties 1128  Section 9.03 Liability of Agents 1128  Section 9.04 Reliance by Agents 1129  Section 9.05 Notice of Default 1129  Section 9.06 Credit Decision; Disclosure of Information by Agents 1129  Section 9.07 Indemnification of Agents 1130  Section 9.08 Agents in their Individual Capacities 1130  Section 9.09 Successor Agents 1131  Section 9.10 Administrative Agent May File Proofs of Claim 1131  Section 9.11 Collateral and Guaranty Matters 1133  Section 9.12 Other Agents; Arrangers and Managers 1134  Section 9.13 Appointment of Supplemental Administrative Agents 1134    -iii-  #95982248v17   Page    Section 9.14 Withholding Tax 1135  ARTICLE X  Miscellaneous    Section 10.01 Amendments, Etc. 1135  Section 10.02  Notices and Other Communications; Facsimile Copies 1138  Section 10.03 No Waiver; Cumulative Remedies 1140  Section 10.04 Attorney Costs and Expenses 1140  Section 10.05 Indemnification by the Borrower 1140  Section 10.06 Payments Set Aside 1142  Section 10.07 Successors and Assigns 1142  Section 10.08   Confidentiality 1147  Section 10.09   Setoff 1148  Section 10.10   Counterparts 1148  Section 10.11 Integration 1149  Section 10.12 Survival of Representations and Warranties 1149  Section 10.13 Severability 1149  Section 10.14  GOVERNING LAW, JURISDICTION, SERVICE OF PROCESS 1149  Section 10.15   WAIVER OF RIGHT TO TRIAL BY JURY 1150  Section 10.16 Binding Effect  1150  Section 10.17 Judgment Currency  1150  Section 10.18 Lender Action  1151  Section 10.19 Know-Your-Customer, Etc  1151  Section 10.20 USA PATRIOT Act  1151  Section 10.21 Applicable Intercreditor Agreements  1151  Section 10.22 Obligations Absolute  1152  Section 10.23 No Advisory or Fiduciary Responsibility 1152  Section 10.24  Electronic Execution of Assignments and Certain Other Documents  1152  Section 10.25   Acknowledgement and Consent to Bail-In of Affected Financial  Institutions 1153  Section 10.26 Lender Representation 1153  Section 10.27   Acknowledgement Regarding Any Supported QFCs 1154    SCHEDULES    1.01A — Certain Security Interests and Guarantees  1.01B — Unrestricted Subsidiaries  1.01C — Excluded Subsidiaries  1.01D — Guarantors  1.01E — Material Real Property  2.01 — Term Commitments  5.06 — Litigation  5.11 — Subsidiaries and Other Equity Investments  6.12 — Post-Closing Covenants  7.01(b) — Existing Liens  7.02 — Existing Investments  7.03(c) — Surviving Indebtedness  7.07 — Transactions with Affiliates    -iv-  





 






-v-  #95982248v17    Page    10.02 — Administrative Agent’s Office; Certain Addresses for Notices  -v-  #95982248v17    EXHIBITS    Form of    A — Committed Loan Notice  B — [Reserved]  C — Term Note  D — Compliance Certificate  E — Assignment and Assumption  F — Guaranty  G-1  —   ABL Intercreditor Agreement  G-2  —   Term Intercreditor Agreement  H   —   Security Agreement  I — Discounted Prepayment Option Notice  J — Lender Participation Notice  K — Discounted Voluntary Prepayment Notice  L — United States Tax Compliance Certificate  





 






#95982248v17   FIRST LIEN TERM LOAN CREDIT AGREEMENT    This FIRST LIEN TERM LOAN CREDIT AGREEMENT (this “Agreement”) is entered  into as of November 21, 2017, among UTZ QUALITY FOODS, LLC, a Delaware limited liability  company (the “Borrower”), UM-U INTERMEDIATE, LLC, a Delaware limited liability company  (“UM-U Parent”), UM-R INTERMEDIATE, LLC, a Delaware limited liability company (“UM-R  Parent”), SRS LEASING, LLC, a Delaware limited liability company (“SRS Leasing Parent”, and  together with UM-U Parent and UM-R Parent, the “Parents”) and BANK OF AMERICA, N.A. (“Bank of  America”), as Administrative Agent and Collateral Agent, and each lender from time to time party hereto  (the “Lenders”).    PRELIMINARY STATEMENTS    1. The Borrower and the Parents are party to that certain amended and restated  credit agreement, dated as of January 20, 2017, by and among the Borrower, each Parent, the financial  institutions party thereto as lenders, Manufacturers and Traders Trust Company (“M&T”) as the issuing  bank, a lender, the swingline lender and the administrative agent, M&T, Bank of America and PNC  Capital Markets LLC as joint lead arrangers and CoBank, ACB, JPMorgan Chase Bank, N.A. and  Cooperatieve Rabobank U.A., New York Branch as co-documentation agents (as amended, restated,  supplemented or otherwise modified prior to the Closing Date, the “Existing Credit Agreement”).    2. The Borrower requested that, on the Closing Date, the Lenders make available to  them the Initial Term Commitments and Initial Term Loans, on the terms and conditions set forth herein,  the proceeds of which will be used for the purposes set forth in Section 6.11.    3. The Borrower has requested that, on the Second Amendment Effective Date, (a)  the Additional Lenders party to Amendment No. 2 make (i) 2021 Refinancing Term Loans in an  aggregate principal amount of $410,000,000, the proceeds of which shall be used to refinance in full, the  Term Loans outstanding on the Second Amendment Effective Date immediately before giving effect to  Amendment No. 2 and (ii) 2021 Incremental Term Loans in an aggregate principal amount of  $310,000,000, the proceeds of which shall be used to prepay a portion of the loans outstanding under the  Bridge Credit Agreement and to pay transaction fees and expenses in connection with the foregoing and  Amendment No. 2 and (b) this Agreement be amended as set forth in Amendment No. 2, in each case,  pursuant to Amendment No. 2.    4. The Borrower has requested that, on the Third Amendment Effective Date, (a)  the Additional Lenders party to Amendment No. 3 make 2021-2 Incremental Term Loans in an aggregate  principal amount of $75,000,000, the proceeds of which shall be used to repay or prepay a portion of the  loans outstanding under the ABL Credit Agreement and to pay transaction fees and expenses in  connection with the foregoing and Amendment No. 3 and (b) this Agreement be amended as set forth in  Amendment No. 3, in each case, pursuant to Amendment No. 3.    The applicable Lenders have indicated their willingness to lend on the terms and subject  to the conditions set forth herein.    In consideration of the mutual covenants and agreements herein contained, the parties  hereto covenant and agree as follows:  #95982248v17   ARTICLE I    Definitions and Accounting Terms    Section 1.01 Defined Terms. As used in this Agreement, the following terms shall  have the meanings set forth below:    “2021 Incremental Term Commitment” means, as to each Additional Lender, the  obligation of such Additional Lender to make an Incremental Term Loan to the Borrower on the Second  Amendment Effective Date, in the aggregate principal amount set forth on Schedule 2 to Amendment No.  2.    “2021 Incremental Term Loans” shall mean the Incremental Term Loans provided to the  Borrower on the Second Amendment Effective Date pursuant to Section 2.14 and Amendment No. 2.    “2021 New Term Lender” means, at any time, each Lender holding a 2021 New Term  Loan at such time.    “2021 New Term Loans” means, the 2021 Refinancing Term Loans and the 2021  Incremental Term Loans.    “2021 Refinancing Term Commitment” means, as to each Additional Lender, the  obligation of such Additional Lender to make a Refinancing Term Loan to the Borrower on the Second  Amendment Effective Date, in the aggregate principal amount set forth on Schedule 1 to Amendment No.  2.    “2021-2 Incremental Term Commitment” means, as to each 2021-2 Incremental Term  Lender, the obligation of such 2021-2 Incremental Term Lender to make an Incremental Term Loan to the  Borrower on the Third Amendment Effective Date, in the aggregate principal amount set forth on  Schedule 1 to Amendment No. 3.    “2021-2 Incremental Term Loans” shall mean the Incremental Term Loans provided to  the Borrower on the Third Amendment Effective Date pursuant to Section 2.14 and Amendment No. 3.    “2021-2 Incremental Term Lender” means, at any time, each Lender holding a 2021-2  Incremental Term Loan at such time.    “2021 Refinancing Term Loans” shall mean the Refinancing Term Loans provided to the  Borrower on the Second Amendment Effective Date pursuant to Section 2.14, the definition of  “Refinancing Term Loans” hereunder and Amendment No. 2.    “ABL Credit Agreement” means the ABL Credit Agreement dated as of the Closing Date  among each Parent, the Borrower (as administrative borrower), Golden Flake Snack Foods, Inc (as  co-borrower), each additional borrower from time to time party thereto, the ABL Facility Administrative  Agent and the several banks and other financial institutions from time to time parties thereto, as such  agreement may be amended, supplemented, waived or otherwise modified from time to time, in each case  to the extent permitted hereunder, and any Permitted Refinancing thereof (unless such agreement,  instrument or document expressly provides that it is not intended to be and is not an ABL Credit  Agreement), in each case to the extent permitted hereunder.      -2-  





 






#95982248v17   “ABL Facility” means the collective reference to the ABL Credit Agreement, any Loan  Documents (as defined therein), any notes and letters of credit issued pursuant thereto and any guarantee,  security agreement, patent, trademark or copyright security agreements, letter of credit applications and  other guarantees, pledge agreements, security agreements and collateral documents, and other instruments  and documents, executed and delivered pursuant to or in connection with any of the foregoing, in each  case as the same may be amended, supplemented, waived or otherwise modified from time to time, or  refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to time, in  each case to the extent permitted hereunder and any Permitted Refinancing thereof (unless such  agreement, instrument or document expressly provides that it is not intended to be and is not an ABL  Facility).    “ABL Facility Administrative Agent” means Bank of America, N.A. in its capacity as  administrative agent under the ABL Credit Agreement or any successor agent under the ABL Loan  Documents.    “ABL Intercreditor Agreement” means the ABL Intercreditor Agreement substantially in  the form of Exhibit G-1 among the Collateral Agent, Bank of America, N.A., as collateral agent under the  ABL Credit Agreement and the representatives for purposes thereof for holders of one or more other  classes of Indebtedness, the Borrower and the other parties thereto, as amended, restated, supplemented or  otherwise modified from time to time in accordance with the requirements thereof and of this Agreement,  and which shall also include any replacement intercreditor agreement entered into in accordance with the  terms hereof.    “ABL Lenders” means “Lenders” under the ABL Credit Agreement.    “ABL Loan Documents” means, collectively, (i) the ABL Credit Agreement and (ii) the  security documents, intercreditor agreements (including the ABL Intercreditor Agreement), guarantees,  joinders and other agreements or instruments executed in connection with the ABL Facility or such other  agreements, in each case, as amended, modified, supplemented, substituted, replaced, restated or  refinanced, in whole or in part, from time to time including in connection with a Permitted Refinancing of  the ABL Facility.    “ABL Obligations” means “Obligation” as defined in the ABL Facility as in effect on the  Closing Date.    “ABL Priority Collateral” has the meaning set forth in the ABL Intercreditor Agreement.  “Acceptable Discount” has the meaning specified in Section 2.05(d)(iii).  “Acceptance Date” has the meaning specified in Section 2.05(d)(ii).  “Accounting Changes” has the meaning specified in Section 1.03(d).  “Acquired EBITDA” means, with respect to any Acquired Entity or Business or any  Converted Restricted Subsidiary for any period, the amount for such period of Consolidated EBITDA of  such Acquired Entity or Business or Converted Restricted Subsidiary, as applicable, all as determined on  a consolidated basis for such Acquired Entity or Business or Converted Restricted Subsidiary, as  applicable.        -3-  #95982248v17   “Acquired Entity or Business” has the meaning specified in the definition of the term  “Consolidated EBITDA.”    “Additional Lender” has the meaning specified in Section 2.14(d).    “Administrative Agent” means, subject to Section 9.13, Bank of America in its capacity  as administrative agent under the Loan Documents, or any successor administrative agent appointed in  accordance with Section 9.09.    “Administrative Agent’s Office” means the Administrative Agent’s address and, as  appropriate, account as set forth on Schedule 10.02, or such other address or account as the  Administrative Agent may from time to time notify the Borrower and the Lenders.    “Administrative Questionnaire” means an Administrative Questionnaire in a form  supplied by the Administrative Agent.    “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK  Financial Institution.    “Affiliate” means, with respect to any Person, another Person that directly, or indirectly  through one or more intermediaries, Controls or is Controlled by or is under common Control with the  Person specified. “Control” means the possession, directly or indirectly, of the power to direct or cause  the direction of the management or policies of a Person, whether through the ability to exercise voting  power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto.    “Affiliated Debt Fund” means an Affiliated Lender that is primarily engaged in, or  advises funds or other investment vehicles that are engaged in, making, purchasing, holding or otherwise  investing in commercial loans, bonds and similar extensions of credit in the ordinary course of business  and with respect to which a Permitted Holder does not, directly or indirectly, possess the power to direct  or cause the direction of the investment policies of such entity.    “Affiliated Lender” means the Permitted Holders, the Borrower and any Affiliates thereof  (including Affiliated Debt Funds but excluding, in each case, any natural person).    “After Year-End Transaction” has the meaning specified in Section 2.05(b).    “Agent Fee Letter” means the Fee Letter dated October 25, 2017, by and among the  Borrower, Bank of America and Merrill Lynch, Pierce, Fenner & Smith Incorporated, and as otherwise  amended, supplemented or modified from time to time.    “Agent Parties” has the meaning specified in Section 10.02(c).    “Agent-Related Persons” means the Agents, together with their respective Affiliates, and  the officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates.    “Agents” means, collectively, the Administrative Agent, the Collateral Agent, and the  Supplemental Administrative Agents (if any).    “Aggregate Commitments” means the Term Commitments of all the Lenders.      -4-  





 






#95982248v17   “Agreement” has the meaning specified in the introductory paragraph hereof.  “Agreement Currency” has the meaning specified in Section 10.17.  “Amendment No. 2” means that certain amendment to this Agreement, dated as of the  Second Amendment Effective Date, by and among the Borrower, the Parent, the other Loan Parties party  thereto, Bank of America, N.A., as Administrative Agent and each Additional Lender and any other  Lender party thereto.    “Amendment No. 3” means that certain amendment to this Agreement, dated as of the  Third Amendment Effective Date, by and among the Borrower, the Parent, the other Loan Parties party  thereto, Bank of America, N.A., as Administrative Agent and each Additional Lender and any other  Lender party thereto.    “Amendment No. 4” means that certain amendment to this Agreement, dated as of the  Fourth Amendment Effective Date, by and among the Borrower, the Parent, the other Loan Parties party  thereto, Bank of America, N.A., as Administrative Agent and each Lender party thereto.    “Applicable Discount” has the meaning specified in Section 2.05(d)(iii).    “Applicable Intercreditor Agreement” means (a) to the extent executed in connection  with any incurrence of Indebtedness secured by Liens on the Collateral that (i) are intended to rank equal  in priority to the Liens on the ABL Priority Collateral securing the ABL Obligations and (ii) are intended  to rank junior in priority to the Liens on the Term Priority Collateral securing the Obligations, the ABL  Intercreditor Agreement, (b) to the extent executed in connection with any incurrence of Indebtedness  secured by Liens on the Collateral that are intended to rank equal in priority to the Liens on the Collateral  securing the Obligations (but without regard to control of remedies), each of the ABL Intercreditor  Agreement and the Term Intercreditor Agreement, (c) to the extent executed in connection with the  incurrence of Indebtedness secured by Liens on the Collateral which are intended to rank equal in priority  to the Liens on the Collateral securing the Junior Priority Debt Obligations (as defined in the Term  Intercreditor Agreement), the Term Intercreditor Agreement and the ABL Intercreditor Agreement and (d)  to the extent executed in connection with any incurrence of Indebtedness secured by Liens on the  Collateral that are intended to rank junior in priority to the Liens securing the Obligations and the Junior  Priority Debt Obligations, a customary intercreditor agreement in form and substance reasonably  acceptable to the Administrative Agent and the Borrower, which agreement shall provide that the Liens  on the Collateral securing such Indebtedness shall rank junior to the Liens on the Collateral securing the  Obligations and the Junior Priority Debt Obligations (as defined in the Term Intercreditor Agreement).    “Applicable Lending Office” means for any Lender, such Lender’s office, branch or  affiliate designated for Eurocurrency RateTerm SOFR Loans or Base Rate Loans, as applicable, as  notified to the Administrative Agent, any of which offices may be changed by such Lender.    “Applicable Percentage” means, at any time (a) with respect to any Lender with a Term  Commitment of any Class, the percentage (carried out to the 9th decimal place) equal to a fraction the  numerator of which is the amount of such Lender’s Term Commitment of such Class at such time and the  denominator of which is the aggregate amount of all Term Commitments of such Class of all Lenders and  (b) with respect to the Loans of any Class, a percentage (carried out to the 9th decimal place) equal to a  fraction the numerator of which is such Lender’s Outstanding Amount of the Loans of such Class and the  denominator of which is the aggregate Outstanding Amount of all Loans of such Class.      -5-  #95982248v17   “Applicable Rate” means a percentage per annum equal to, (A) for Eurocurrency  RateTerm SOFR Loans that are Initial Term Loans, 3.00% and (B) for Base Rate Loans that are Initial  Term Loans, 2.00%.    “Appropriate Lender” means, at any time, with respect to Loans of any Class, the  Lenders of such Class.    “Approved Foreign Bank” has the meaning specified in the definition of “Cash  Equivalents.”    “Approved Fund” means, with respect to any Lender, any Fund that is administered,  advised or managed by (a) such Lender, (b) an Affiliate of such Lender or (c) an entity or an Affiliate of  an entity that administers, advises or manages such Lender.    “Asset Percentage” has the meaning specified in Section 2.05(b)(ii).  “Assignees” has the meaning specified in Section 10.07(b).  “Assignment and Assumption” means (a) an Assignment and Assumption substantially in  the form of Exhibit E and (b) in the case of any assignment of Term Loans in connection with a Permitted  Debt Exchange conducted in accordance with Section 2.17, such form of assignment (if any) as may have  been requested by the Administrative Agent in accordance with Section 2.17(a)(viii) or, in each case, any  other form (including electronic documentation generated by an electronic platform) approved by the  Administrative Agent.    “Attorney Costs” means and includes all reasonable fees, expenses and disbursements of  any law firm or other external legal counsel.    “Attributable Indebtedness” means, on any date, in respect of any Capitalized Lease of  any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared  as of such date in accordance with GAAP.    “Audited Financial Statements” means (i) the audited Consolidated balance sheet of the  Parents and their respective Subsidiaries for the fiscal years ended on the Sunday closest to December 31,  2016 and the Sunday closest to December 31, 2015 and (ii) the related audited Consolidated statement of  income, cash flows and changes in retained earnings for such fiscal year.    “Available Amount” means, at any time (the “Available Amount Reference Time”), an  amount (which shall not be less than zero) equal to the sum of:    (a) the greater of (i) $50,000,00053,000,000 and (ii) 25% of Consolidated EBITDA;  plus    (b) the excess of (i) Excess Cash Flow minus (ii) the Excess Cash Flow Prepayment  Amount (without giving effect to clause (B) of Section 2.5(b)(i)), in each case, for each fiscal  year of the Parents (commencing with the first full fiscal year following the Closing Date) that  has ended prior to the Available Amount Reference Time; plus    (c) the amount of any capital contributions (including mergers or consolidations that  have a similar effect) or Net Cash Proceeds from any Permitted Equity Issuance (or issuance of  debt securities by any Parent, the Borrower or any of the Restricted Subsidiaries that have been  -6-  





 






#95982248v17   converted into or exchanged for Qualified Equity Interests of any Parent or any direct or indirect  parent thereof), in each case during the period from the Business Day immediately following the  Closing Date through and including the Available Amount Reference Time (other than any  Excluded Contribution Amount, or any other capital contributions (including mergers or  consolidations that have a similar effect) or equity or debt issuances to the extent utilized in  connection with other transactions permitted pursuant to Section 7.02, 7.03, 7.06 or 7.08)  received or made by any Parent (or any direct or indirect parent thereof and contributed by such  parent to such Parent) during the period from and including the Business Day immediately  following the Closing Date through and including the Available Amount Reference Time; plus    (d) the aggregate amount of Retained Declined Proceeds during the period from the  Business Day immediately following the Closing Date through and including the Available  Amount Reference Time; plus    (e) to the extent not (i) already included in the calculation of Consolidated Net  Income of the Parents, the Borrower and the Restricted Subsidiaries or (ii) already reflected as a  return of capital or deemed reduction in the amount of such Investment pursuant to clause (g)  below or any other provision of Section 7.02, the aggregate amount of all cash dividends and  other cash distributions received by any Parent, the Borrower or any Restricted Subsidiary from  any JV Entity or Unrestricted Subsidiaries during the period from the Business Day immediately  following the Closing Date through and including the Available Amount Reference Time; plus    (f) to the extent not (i) already included in the calculation of Consolidated Net  Income of the Parents, the Borrower and the Restricted Subsidiaries, (ii) already reflected as a  return of capital or deemed reduction in the amount of such Investment pursuant to clause (g)  below or any other provision of Section 7.02, or (iii) used to prepay Term Loans in accordance  with Section 2.05(b)(ii), the aggregate amount of all Net Cash Proceeds received by any Parent,  the Borrower or any Restricted Subsidiary in connection with the sale, transfer or other  disposition of its ownership interest in any JV Entity or Unrestricted Subsidiary during the period  from the Business Day immediately following the Closing Date through and including the  Available Amount Reference Time; minus    (g) the aggregate amount of (i) any Investments made pursuant to Section 7.02(n)  (net of any return of capital in respect of such Investment or deemed reduction in the amount of  such Investment, including, without limitation, upon the redesignation of any Unrestricted  Subsidiary as a Restricted Subsidiary or the sale, transfer, lease or other disposition of any such  Investment), (ii) any Restricted Payment made pursuant to Section 7.06(k) and (iii) any payments  made pursuant to Section 7.08(a)(iii)(B), in each case, during the period commencing on the  Closing Date through and including the Available Amount Reference Time (and, for purposes of  this clause (g), without taking account of the intended usage of the Available Amount at such  Available Amount Reference Time).    “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the  applicable Resolution Authority in respect of any liability of an Affected Financial Institution.    “Bail-In Legislation” means, (a) with respect to any EEA Member Country implementing  Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European  Union, the implementing law, rule, regulation or requirement for such EEA Member Country from time  to time which is described in the EU Bail-In Legislation Schedule, and (b) with respect to the United  Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other  law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing  -7-  #95982248v17   banks, investment firms or other financial institutions or their affiliates (other than through liquidation,  administration or other insolvency proceedings).    “Bank of America” has the meaning specified in the introductory paragraph to this  Agreement.    “Bankruptcy Code” means Title 11 of the United State Code, as amended, or any similar  federal or state law for the relief of debtors.    “Bankruptcy Event” means, with respect to any Person, such Person or its parent entity  becomes (other than via an Undisclosed Administration) the subject of a bankruptcy or insolvency  proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit  of creditors or similar Person charged with the reorganization or liquidation of its business appointed for  it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of,  or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment;  provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the  acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality  thereof; provided, further, that such ownership interest does not result in or provide such Person with  immunity from the jurisdiction of courts within the United States or from the enforcement of judgments  or writs of attachment on its assets or permit such Person (or such Governmental Authority or  instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such  Person or its parent entity.    “Base Rate” means, for any day, a fluctuating rate per annum equal to the greatest of: (a)  the Federal Funds Rate in effect on such date plus 1/2 of 1.00%, (b) the rate of interest in effect for such  day as publicly announced from time to time by Bank of America as its “prime rate,” (c) the  Eurocurrency RateTerm SOFR plus 1.00%, and (d) in respect of Term Loans, 0.00% per annum. The  “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s  costs and desired return, general economic conditions and other factors, and is used as a reference point  for pricing some loans, which may be priced at, above, or below such announced rate.  “Base Rate Loan” means a Loan that bears interest at a rate based on the Base Rate.  “Basel III” means, collectively, those certain agreements on capital requirements,  leverage ratios and liquidity standards contained in “Basel III: A Global Regulatory Framework for More  Resilient Banks and Banking Systems,” “Basel III: International Framework for Liquidity Risk  Measurement, Standards and Monitoring,” and “Guidance for National Authorities Operating the  Countercyclical Capital Buffer,” each as published by the Basel Committee on Banking Supervision in  December 2010 (as revised from time to time).    “Beneficial Ownership Certification” means a certification regarding beneficial  ownership required by the Beneficial Ownership Regulation.    “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.    “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is  subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any  Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of  ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.      -8-  





 






#95982248v17   “Borrower” has the meaning specified in the introductory paragraph to this Agreement.  “Borrower Materials” has the meaning specified in Section 6.02.  “Borrowing” means Loans of the same Class and Type, made, converted or continued on  the same date and, in the case of Eurocurrency RateTerm SOFR Loans, as to which a single Interest  Period is in effect.    “Bridge Credit Agreement” means Bridge Credit Agreement dated as of December 14,  2020 among the Borrower, Utz Brands Holdings, LLC (f/k/a UM-U Intermediate, LLC), Bank of  America, N.A., as Administrative Agent and Collateral Agent and the lenders from time to time party  thereto, as such agreement may be amended, supplemented, waived or otherwise modified from time to  time.    “British Pounds Sterling” means the lawful currency of Great Britain.    “Business Combination Agreement” means that certain Business Combination  Agreement, dated as of June 5, 2020 (as amended, restated, amended and restated, supplemented or  otherwise modified from time to time), by and among Collier Creek Holdings, a Cayman Islands  exempted company as Buyer (as defined therein), Parent, Series U of UM Partners, LLC and Series R of  UM Partners, LLC.    “Business Day” means any day that is not a Saturday, Sunday or other day on which  commercial banks in New York City are authorized or required by law to remain closed; provided that  when used in connection with a Eurocurrency Rate Loan, the term “Business Day” shall also exclude any  day on which banks are not open for dealings in Dollar deposits in the London interbank market.    “Canadian Dollars” means the lawful currency of Canada.    “Capital Expenditures” means, for any period, the aggregate of, without duplication, (a)  all expenditures (whether paid in cash or accrued as liabilities) by the Parents, the Borrower and the  Restricted Subsidiaries during such period that, in conformity with GAAP, are or are required to be  included as additions during such period to property, plant or equipment in a consolidated statement of  cash flows and reflected in the consolidated balance sheet of the Parents, the Borrower and the Restricted  Subsidiaries and (b) Capitalized Lease Obligations incurred by the Parents, the Borrower and the  Restricted Subsidiaries during such period.    “Capitalized Lease Obligation” means, at the time any determination thereof is to be  made, the amount of the liability in respect of a Capitalized Lease that would at such time be required to  be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in  accordance with GAAP.    “Capitalized Leases” means all leases that are required to be, in accordance with GAAP,  recorded as capitalized leases; provided that for all purposes hereunder the amount of obligations under  any Capitalized Lease shall be the amount thereof accounted for as a liability in accordance with GAAP;  provided that all obligations of the Parents, the Borrower and the Restricted Subsidiaries that are or would  be characterized as an operating lease as determined in accordance with GAAP as in effect on the Closing  Date (whether or not such operating lease was in effect on such date) shall continue to be accounted for as  an operating lease (and not as a Capitalized Lease) for purposes of this Agreement regardless of any      -9-  #95982248v17   change in GAAP following the Closing Date that would otherwise require such obligation to be  recharacterized as a Capitalized Lease.    “Cash Equivalents” means any of the following types of Investments, to the extent owned  by any Parent, the Borrower or any Restricted Subsidiary:    (1) Dollars;    (2) securities issued or directly and fully and unconditionally guaranteed or insured  by the United States government or any agency or instrumentality of the foregoing the securities  of which are unconditionally guaranteed as a full faith and credit obligation of such government  with maturities of 24 months or less from the date of acquisition;    (3) certificates of deposit, time deposits and eurodollar time deposits with maturities  of one year or less from the date of acquisition, with any domestic or foreign commercial bank  having capital and surplus of not less than $500,000,000 in the case of U.S. banks and  $100,000,000 (or the Dollar equivalent as of the date of determination) in the case of non-U.S.  banks;    (4) repurchase obligations for underlying securities of the types described in clauses  (2), (3) and (7) of this definition entered into with any financial institution meeting the  qualifications specified in clause (3) above;    (5) commercial paper rated at least “P-1” by Moody’s or at least “A-1” by S&P, and  in each case maturing within 24 months after the date of creation thereof and Indebtedness or  preferred stock issued by Persons with a rating of “A” or higher from S&P or “A-2” or higher  from Moody’s, with maturities of 24 months or less from the date of acquisition;    (6) marketable short-term money market and similar securities having a rating of at  least “P-2” or “A-2” from either Moody’s or S&P, respectively (or, if at any time neither  Moody’s nor S&P shall be rating such obligations, an equivalent rating from another nationally  recognized statistical rating agency selected by the Borrower) and in each case maturing within  24 months after the date of creation or acquisition thereof;    (7) readily marketable direct obligations issued by any state, commonwealth or  territory of the United States or any political subdivision or taxing authority thereof having an  Investment Grade Rating from Moody’s or S&P with maturities of 24 months or less from the  date of acquisition;    (8) readily marketable direct obligations issued by any foreign government or any  political subdivision or public instrumentality thereof, in each case having an Investment Grade  Rating from Moody’s or S&P with maturities of 24 months or less from the date of acquisition;    (9) Investments with average maturities of 12 months or less from the date of  acquisition in money market funds rated within the top three ratings category by S&P or  Moody’s;    (10) with respect to any Foreign Subsidiary: (i) obligations of the national government  of the country in which such Foreign Subsidiary maintains its chief executive office and principal  place of business provided such country is a member of the Organization for Economic  Cooperation and Development, in each case maturing within one year after the date of investment  -10-  





 






#95982248v17   therein, (ii) certificates of deposit of, bankers acceptances of, or time deposits with, any  commercial bank which is organized and existing under the laws of the country in which such  Foreign Subsidiary maintains its chief executive office and principal place of business provided  such country is a member of the Organization for Economic Cooperation and Development, and  whose short-term commercial paper rating from S&P is at least “A-1” or the equivalent thereof or  from Moody’s is at least “P-1” or the equivalent thereof (any such bank being an “Approved  Foreign Bank”), and in each case with maturities of not more than 270 days from the date of  acquisition and (iii) the equivalent of demand deposit accounts which are maintained with an  Approved Foreign Bank;    (11) Cash Equivalents of the types described in clauses (1) through (10) above  denominated in Dollars, Euro, Brazilian Real, British Pounds Sterling, Australian Dollars,  Canadian Dollars, Chinese Yuan, Danish Kroner, Hong Kong Dollars, Hungarian Forint, Indian  Rupee, Japanese Yen, New Zealand Dollars, Norwegian Krone, Singapore Dollars, South African  Rand, Swedish Kroner, Swiss Francs, Turkish Lira, United Arab Emirates Dirham or any other  currency (other than Dollars) that is a lawful currency (other than Dollars) that is readily available  and freely transferable and convertible into Dollars or, solely to the extent held in the ordinary  course of business and not for speculative purposes, any currency in which any Parent, the  Borrower and/or the Restricted Subsidiaries regularly conducts business; and    (12) investment funds investing at least 90% of their assets in Cash Equivalents of the  types described in clauses (1) through (11) above.    “Cash Management Bank” means any financial institution providing treasury, depository,  credit or debit card, purchasing card, and/or cash management services or automated clearing house  transactions to any Parent, the Borrower or any Restricted Subsidiary or conducting any automated  clearing house transfers of funds.    “Cash Management Obligations” means obligations owed by any Parent, the Borrower or  any Restricted Subsidiary to any Cash Management Bank in respect of any Cash Management Services.    “Cash Management Services” means (a) commercial credit cards, merchant card services,  purchase or debit cards, including non-card e-payables services, (b) treasury management services  (including controlled disbursement, overdraft automatic clearing house fund transfer services, return  items and interstate depository network services) and (c) any other demand deposit or operating account  relationships or other cash management services.    “Casualty Event” means any event that gives rise to the receipt by any Parent, the  Borrower or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of  any equipment, fixed assets or real property (including any improvements thereon) to replace or repair  such equipment, fixed assets or real property.    “Change in Law” means the occurrence, after the Closing Date, of any of the following:  (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule,  regulation or treaty or in the administration, interpretation, implementation or application thereof by any  Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive  (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding  anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and  all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all  requests, rules, guidelines or directives promulgated by the Bank for International settlements, the Basel  Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign  -11-  #95982248v17   regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in  Law,” regardless of the date enacted, adopted or issued.    “Change of Control” means the earlier to occur of:    (a) the Permitted Holders ceasing to have the power, directly or indirectly, to vote or  direct the voting of securities having a majority of the ordinary voting power for the election of  directors, managers or other governing body of each Parent and the Borrower; provided that the  occurrence of the foregoing event shall not be deemed a Change of Control if,    (i) any time prior to the consummation of a Qualifying IPO, and for any  reason whatsoever, (A) the Permitted Holders otherwise have the right, directly or  indirectly, to designate (and do so designate) a majority of the board of directors,  managers or other governing body of each Parent and the Borrower at such time or (B)  the Permitted Holders own, directly or indirectly, a majority of the outstanding voting  Equity Interests of each Parent and the Borrower at such time, or    (ii) at any time upon or after the consummation of a Qualifying IPO, and for  any reason whatsoever, no “person” or “group” (as such terms are used in Sections 13(d)  and 14(d) of the Exchange Act), excluding the Permitted Holders, shall become the  “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under such Act), directly or  indirectly, of more than the greater of (x) thirty-five percent (35%) of the then  outstanding voting stock of the Borrower, and (y) the percentage of the then outstanding  voting stock of the Borrower owned, directly or indirectly, beneficially by the Permitted  Holders; provided that so long as the Borrower is a Wholly Owned Subsidiary of any  parent entity, no person shall be deemed to be or become a beneficial owner of more than  35% of the voting stock of the Borrower unless such person shall be or become a  beneficial owner of more than 35% of the voting stock of such parent entity (other than a  parent entity that is a Wholly Owned Subsidiary of another parent entity); or    (b) the Borrower ceasing to be a direct Wholly Owned Subsidiary of a Parent or an  Intermediate Holding Company;    (c) the occurrence of a “Change of Control” (or similar event, however  denominated), as defined in the ABL Credit Agreement; or    (d) [reserved].    Notwithstanding the preceding or any provision of Section 13d-3 of the Exchange Act, (i)  a Person or group shall not be deemed to beneficially own voting stock subject to a stock or asset  purchase agreement, merger agreement, option agreement, warrant agreement or similar  agreement (or voting or option or similar agreement related thereto) until the consummation of  the acquisition of the voting stock in connection with the transactions contemplated by such  agreement, (ii) if any person or group includes one or more Permitted Holders, the issued and  outstanding voting stock of the Borrower owned, directly or indirectly, by any Permitted Holders  that are part of such person or group shall not be treated as being beneficially owned by such  person or group or any other member of such person or group for purposes of determining  whether a Change of Control has occurred and (iii) the right to acquire voting stock (so long as  such Person does not have the right to direct the voting of the voting stock subject to such right)      -12-  





 






#95982248v17   or any veto power in connection with the acquisition or disposition of voting stock will not cause  a party to be a beneficial owner.    “City Code” has the meaning specified in Section 1.09(a).    “Class” (a) when used with respect to Lenders, refers to whether such Lenders hold a  particular Class of Term Commitments or Loans, (b) when used with respect to Term Commitments,  refers to whether such Term Commitments are Initial Term Commitments, Term Commitments in respect  of any Incremental Term Loans or Term Commitments in respect of any Extended Term Loans and (c)  when used with respect to Loans or a Borrowing, refers to whether such Loans, or the Loans comprising  such Borrowing, are Initial Term Loans, Extended Term Loans or Incremental Term Loans. Incremental  Term Loans and Extended Term Loans that have different terms and conditions (together with the Term  Commitments in respect thereof) shall be construed to be in different Classes.    “Closing Date” means the date all the conditions precedent in Section 4.01 are satisfied  or waived in accordance with Section 10.01, which date is November 21, 2017.    “Closing Date Restricted Payment” means a dividend or distribution payment (or series  of payments) by the Borrower or any of its direct or indirect parent companies on or prior to February 20,  2018 to, directly or indirectly, holders of its Equity Interests in an amount not to exceed $300,000,000.    “CME” means CME Group Benchmark Administration Limited.    “Code” means the U.S. Internal Revenue Code of 1986, as amended.    “Collateral” means all the “Collateral” as defined in the Collateral Documents and all  other property of whatever kind and nature pledged or charged as collateral under any Collateral  Document.    “Collateral Agent” means Bank of America, in its capacity as collateral agent under any  of the Loan Documents, or any successor collateral agent appointed in accordance with Section 9.09.    “Collateral and Guarantee Requirement” means, at any time, the requirement that:    (a) the Collateral Agent shall have received each Collateral Document required to be  delivered on the Closing Date pursuant to Section 4.01(a)(iii), or thereafter pursuant to Section  6.10 or Section 6.12, duly executed by each Loan Party that is a party thereto;    (b) all Obligations shall have been unconditionally guaranteed (the “Guarantees”),  jointly and severally, by each Parent, each Intermediate Holding Company and each Restricted  Subsidiary that is a Material Subsidiary (other than any Excluded Subsidiary) including, as of the  Closing Date, those that are listed on Schedule 1.01D hereto (each, a “Guarantor”);    (c) the Obligations and the Guarantees shall have been secured pursuant to the  Security Agreements or other applicable Collateral Documents by a first-priority security interest  in (i) all the Equity Interests of the Borrower and any Intermediate Holding Company and (ii) all  Equity Interests (other than Excluded Equity) held directly by the Borrower or any other Loan  Party in any Wholly Owned Subsidiary, in each case subject to (x) those Liens permitted under  Sections 7.01(b), (o), (w) (solely with respect to modifications, replacements, renewals or  extensions of Liens permitted by Sections 7.01(b) and (o)) and (ff) and (y) any nonconsensual  Lien that is permitted under Section 7.01 and the Administrative Agent shall have received  -13-  #95982248v17   certificates or other instruments representing all such Equity Interests (if any), together with  undated stock powers or other instruments of transfer with respect thereto endorsed in blank;    (d) except to the extent otherwise provided hereunder or under any Collateral  Document, the Obligations and the Guarantees shall have been secured by a perfected security  interest (to the extent such security interest may be perfected by delivering certificated securities  and instruments, filing personal property financing statements, or making any necessary filings  with the United States Patent and Trademark Office or United States Copyright Office) in,  substantially all tangible and intangible assets of each Parent, each Intermediate Holding  Company, the Borrower and each other Guarantor (including, without limitation, accounts  receivable, inventory, equipment, investment property, United States intellectual property,  intercompany receivables, other general intangibles (including contract rights), and proceeds of  the foregoing), in each case, with the priority required by the Collateral Documents and all  certificates, agreements, documents and instruments, including Uniform Commercial Code  financing statements, required by the Collateral Documents, requirements of Law and reasonably  requested by the Collateral Agent to be filed, delivered, registered or recorded to create the Liens  intended to be created by the Collateral Documents and perfect such Liens to the extent required  by, and with the priority required by, the Collateral Documents and the other provisions of the  term “Collateral and Guarantee Requirement,” shall have been filed, registered or recorded or  delivered to the Collateral Agent for filing, registration or recording;    (e) none of the Collateral shall be subject to any Liens other than Permitted Liens;  and    (f) in the event any Guarantor is added that is organized in a jurisdiction other than  the U.S., such Loan Party shall grant a perfected lien on substantially all of its assets (other than  Excluded Property) pursuant to arrangements reasonably agreed between the Administrative  Agent and the Borrower subject to customary limitations in such jurisdiction to be reasonably  agreed to between the Administrative Agent and the Borrower.    The foregoing definition shall not require the creation or perfection of pledges of or  security interests in particular assets if and for so long as the Administrative Agent and the Borrower  agree in writing that the cost of creating or perfecting such pledges or security interests in such assets  shall be excessive in view of the benefits to be obtained by the Lenders therefrom.    Notwithstanding anything herein to the contrary, the Borrower shall not enter into any  deed of trust, trust deed, deed of hypothecation or mortgage creating and evidencing a Lien in respect of  any real property of the Borrower or any other Loan Party located in the United States of America or any  territory thereof until the Administrative Agent shall have provided written confirmation that flood  insurance due diligence and flood insurance compliance has been completed by the Administrative Agent  (such written confirmation not to be unreasonably conditioned, withheld or delayed).    The Administrative Agent may grant extensions of time for the perfection of security  interests in (including extensions beyond the Closing Date for the perfection of security interests in the  assets of the Loan Parties on such date) where it reasonably determines, in consultation with the  Borrower, that perfection cannot be accomplished without undue effort or expense by the time or times at  which it would otherwise be required by this Agreement or the Collateral Documents.          -14-  





 






#95982248v17   Notwithstanding the foregoing provisions of this definition or anything in this Agreement  or any other Loan Document to the contrary:    (A) Liens required to be granted from time to time pursuant to the Collateral and  Guarantee Requirement shall be subject to exceptions and limitations set forth in the Collateral  Documents and, to the extent appropriate in the applicable jurisdiction, as agreed between the  Administrative Agent and the Borrower;    (B) the Collateral and Guarantee Requirement shall not apply to any Excluded  Property;    (C) no deposit account control agreement, securities account control agreement or  other control agreements or control arrangements shall be required with respect to any deposit  account, securities account or other asset specifically requiring perfection through control  agreements except to the extent required under the ABL Facility; provided, however, that this  requirement shall be deemed satisfied for so long as the ABL Facility Administrative Agent is  acting as agent for the benefit of the Collateral Agent pursuant to the ABL Intercreditor  Agreement with respect to any deposit account control agreement or securities account control  agreement to which the ABL Facility Administrative Agent is a party; provided, further, however,  that in no event shall the Borrower or any Guarantor be required to execute or deliver (or  maintain in effect) any deposit account control agreement or securities account control agreement  if there is no ABL Facility then in effect or such control agreement is not otherwise required to be  delivered to the ABL Facility Administrative Agent under the terms of the ABL Facility;    (D) other than as provided in clause (f) above, no actions in any jurisdiction other  than the U.S. or that are necessary to comply with the Laws of any jurisdiction other than the U.S.  shall be required in order to create any security interests in assets located, titled, registered or  filed outside of the U.S. or to perfect such security interests (it being understood that other than as  provided in clause (f) above, there shall be no security agreements, pledge agreements, or share  charge (or mortgage) agreements governed under the Laws of any jurisdiction other than the  U.S.);    (E) general statutory limitations, financial assistance, corporate benefit, capital  maintenance rules, fraudulent preference, “thin capitalization” rules, retention of title claims and  similar principle may limit the ability of a Foreign Subsidiary to provide a Guarantee or  Collateral or may require that the Guarantee or Collateral be limited by an amount or otherwise,  in each case as reasonably determined by the Borrower in consultation with the Administrative  Agent; and    (F) no stock certificates of Immaterial Subsidiaries shall be required to be delivered  to the Collateral Agent.    “Collateral Documents” means, collectively, the Security Agreement, each of the  collateral assignments, Security Agreement Supplements, security agreements, pledge agreements or  other similar agreements delivered to the Collateral Agent and the Lenders pursuant to Section  4.01(a)(iii), Section 6.10 or Section 6.12, the Guaranty and each of the other agreements, instruments or  documents that creates or purports to create a Lien or Guarantee in favor of the Collateral Agent for the  benefit of the Secured Parties.    “Committed Loan Notice” means a notice of (a) a Term Borrowing, (b) a conversion of  Loans from one Type to the other or (c) a continuation of Eurocurrency RateTerm SOFR Loans pursuant  -15-  #95982248v17   to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A (including any form  on an electronic platform or electronic transmission system as shall be approved by the Administrative  Agent), appropriately completed and signed by a Responsible Officer of the Borrower.    “Communications” has the meaning set forth in Section 10.02(g).  “Compensation Period” has the meaning specified in Section 2.12(c)(ii).  “Compliance Certificate” means a certificate substantially in the form of Exhibit D.    “Conforming Changes” means, with respect to the use, administration of or any  conventions associated with SOFR or any proposed Successor Rate or Term SOFR, as applicable, any  conforming changes to the definitions of “Base Rate”, “SOFR”, “Term SOFR” and “Interest Period”,  timing and frequency of determining rates and making payments of interest and other technical,  administrative or operational matters (including, for the avoidance of doubt, the definitions of “Business  Day” and “U.S. Government Securities Business Day”, timing of borrowing requests or prepayment,  conversion or continuation notices and length of lookback periods) as may be appropriate, in the  discretion of the Administrative Agent, in consultation with the Borrower, to reflect the adoption and  implementation of such applicable rate(s) and to permit the administration thereof by the Administrative  Agent in a manner substantially consistent with market practice (or, if the Administrative Agent  determines that adoption of any portion of such market practice is not administratively feasible or that no  market practice for the administration of such rate exists, in such other manner of administration as the  Administrative Agent determines, in consultation with the Borrower, is reasonably necessary in  connection with the administration of this Agreement and any other Loan Document).    “Consolidated” means with respect to any Person and any specified Subsidiaries of such  Person, refers to the consolidation of financial statements of such Person and such Subsidiaries and of  particular items in such financial statements in accordance with GAAP; provided that, as it applies to the  Parents, the Borrower and the Restricted Subsidiaries, it shall refer to the consolidation principles used with  respect to the Parents, the Borrower and the Restricted Subsidiaries, which consolidation principles shall  mean, in the case of each Consolidated financial statement of the Parents, the Borrower and the Restricted  Subsidiaries required to be delivered under this Agreement, the combined financial statement of (i) the  applicable Consolidated financial statement of UM-R Parent and its Restricted Subsidiaries as combined  with (ii) the applicable Consolidated financial statement of UM-U Parent, the Borrower and their respective  Restricted Subsidiaries as Consolidated with SRS Leasing Parent and its Restricted Subsidiaries as well as  RILP and its Restricted Subsidiaries (if any) and provided, further, as it applies to the Parents, the Borrower  and the Restricted Subsidiaries, it shall mean the Borrower and each Parent and the Restricted Subsidiaries  other than the Unrestricted Subsidiaries.    “Consolidated Depreciation and Amortization Expense” means, with respect to any  Person for any period, the total amount of depreciation and amortization expense, including the  amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and  incentive payments, conversion costs and contract acquisition costs, the amortization of original issue  discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or  unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a  consolidated basis and otherwise determined in accordance with GAAP.            -16-  





 






#95982248v17   “Consolidated EBITDA” means, with respect to any Person for any period, the  Consolidated Net Income of such Person (and with respect to the Parents, the Borrower and Restricted  Subsidiaries, such Persons on a Consolidated basis) for such period:    (a) increased (without duplication) by the following:    (i) provision for Taxes based on income or profits or capital, including,  without limitation, state, franchise, excise and similar Taxes and foreign withholding  Taxes of such Person paid or accrued during such period, including any penalties and  interest relating to any tax examinations, deducted (and not added back) in computing  Consolidated Net Income; plus    (ii) Interest Charges of such Person for such period (including (x) net losses  or any obligations under any Swap Contracts or other derivative instruments entered into  for the purpose of hedging interest rate, currency or commodities risk, (y) bank fees and  (z) costs of surety bonds in connection with financing activities, to the extent the same  were deducted (and not added back) in calculating such Consolidated Net Income); plus    (iii) Consolidated Depreciation and Amortization Expense of such Person for  such period to the extent the same were deducted (and not added back) in computing  Consolidated Net Income; plus    (iv) any fees, expenses or charges (other than depreciation or amortization  expense) related to any equity offering, Investment, acquisition, disposition or  recapitalization permitted hereunder or the incurrence of Indebtedness permitted to be  incurred hereunder (including a refinancing thereof) (whether or not successful),  including (A) such fees, expenses or charges related to this Agreement and the ABL  Facility and any other credit facilities (including fees, expenses or charges of any  consultants and advisors incurred in connection with the Transaction or the Golden Flake  Acquisition) and (B) any amendment or other modification of this Agreement, the ABL  Facility and any other credit facilities, in each case, deducted (and not added back) in  computing Consolidated Net Income; plus    (v) the amount of any restructuring charge or reserve, integration cost or  other business optimization expense or cost, including in connection with establishing  new facilities, that is deducted (and not added back) in such period in computing  Consolidated Net Income, including any one-time costs incurred in connection with  acquisitions or divestitures after the Closing Date, and costs related to the closure and/or  consolidation of facilities and to exiting lines of business; plus    (vi) any other non-cash charges, write-downs, expenses, losses or items  reducing Consolidated Net Income for such period including any impairment charges or  the impact of purchase accounting (provided that if any such non-cash charges represent  an accrual or reserve for potential cash items in any future period, (A) the Borrower may  elect not to add back such non-cash charge in the current period and (B) to the extent the  Borrower elects to add back such non-cash charge, the cash payment in respect thereof in  such future period shall be subtracted from Consolidated EBITDA to such extent) or  other items classified by the Borrower as special items less other non-cash items of  income increasing Consolidated Net Income (excluding any such non-cash item of  income to the extent it represents a receipt of cash in any future period); plus    -17-  #95982248v17   (vii) non-cash losses from JV Entities and non-cash minority interest  reductions; plus    (viii) the amount of “run-rate” cost savings, synergies and incremental  earnings from administrative, selling or production-related activities projected by the  Borrower in good faith to result from actions taken prior to or during, or expected to be  taken following such period (including, without limitation, the Golden Flake Acquisition)  (which cost savings, synergies or incremental earnings shall be subject only to  certification by a Responsible Officer of the Borrower and shall be calculated on a pro  forma basis as though such cost savings, synergies or incremental earnings had been  realized on the first day of such period), net of the amount of actual benefits realized  prior to or during such period from such actions; provided that (A) a Responsible Officer  of the Borrower shall have certified to the Administrative Agent that (x) such cost  savings, synergies or incremental earnings are reasonably identifiable, reasonably  attributable to the actions specified and reasonably anticipated to result from such  actions, (y) such actions have been taken or are to be taken within eighteen (18) months  of the event giving rise thereto and (B) the aggregate increase to Consolidated EBITDA  for any period pursuant to this clause (viii), clause (ii) of the definition of “Pro Forma  Adjustment” and clause (a)(xiv)(A) of the definition of “Consolidated EBITDA” shall  not exceed 25% of Consolidated EBITDA for such period (calculated after giving effect  to any increase pursuant to this clause (viii), clause (ii) of the definition of “Pro Forma  Adjustment” and clause (a)(xiv)(A) of the definition of “Consolidated EBITDA”); plus    (ix) (A) any costs or expense incurred by any Parent, the Borrower or any  Restricted Subsidiary pursuant to any management equity plan or stock option plan or  any other management or employee benefit plan or agreement or any stock subscription  or shareholder agreement, to the extent that such cost or expenses are funded with cash  proceeds contributed to the capital of the Borrower or Net Cash Proceeds of an issuance  of Equity Interests (other than Disqualified Equity Interests or any Cure Amounts) of the  Borrower and (B) cash payments under long-term management equity incentive plans;  plus    (x) cash receipts (or any netting arrangements resulting in reduced cash  expenditures) not representing Consolidated EBITDA or Consolidated Net Income in any  period to the extent non-cash gains relating to such income were deducted in the  calculation of Consolidated EBITDA pursuant to paragraph (b) below for any previous  period and not added back; plus    (xi) any net loss included in Consolidated Net Income attributable to  non-controlling interests pursuant to the application of Accounting Standards  Codification Topic 810-10-45; plus    (xii) realized foreign exchange losses resulting from the impact of foreign  currency changes on the valuation of assets or liabilities on the balance sheet of the  Parents, the Borrower and the Restricted Subsidiaries; plus    (xiii) net realized losses from Swap Contracts or embedded derivatives that  require similar accounting treatment and the application of Accounting Standard  Codification Topic 815 and related pronouncements; plus      -18-  





 






#95982248v17   (xiv) in an amount not to exceed $5,000,000 in the aggregate in any four fiscal  quarter period, the amount of board, management, advisory, consulting, refinancing  subsequent transaction and exit fees (including termination fees) and related indemnities  and expenses paid or accrued in such period to any Permitted Holder (or, in the case of  board fees, to any director) to the extent permitted hereunder; plus    (xv) the amount of loss on sale of receivables and related assets in connection  with a Permitted Receivables Financing; plus    (xvi) the amount of any charges, expenses, costs or other payments in respect  of facilities no longer used or useful in the conduct of the business of the Parents, the  Borrower and the Restricted Subsidiaries; plus    (xvii) charges, expenses and costs associated with, or in anticipation of, or  preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and  the rules and regulations promulgated in connection therewith and charges, expenses and  costs in anticipation of, or preparation for, compliance with the provisions of the  Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as  amended, as applicable to companies with equity or debt securities held by the public, the  rules of national securities exchange for companies with listed equity or debt securities,  including directors’ or managers’ compensation, fees and expense reimbursement, costs,  expenses and charges relating to investor relations, shareholder meetings and reports to  shareholders or debtholders, directors’ and officers’ insurance and other executive costs,  legal and other professional fees, and listing fees (collectively, “Public Company Costs”);  plus    (xviii) in an amount not to exceed $10,000,000 in the aggregate in any four  fiscal quarter period, any (A) legal fees and expenses actually incurred in connection with  corporate actions and (B) costs and expenses related to settlement of such actions; plus    (xiv) any other adjustments or add-backs specified in (A) subject to the  limitations set forth in clause (a)(viii) of the definition of Consolidated EBITDA, the  Quality of Earnings Report delivered to the Lead Arrangers on October 20, 2017 and (B)  the financial model delivered to the Lead Arrangers on October 30, 2017;    (b) decreased (without duplication) by the following:    (i) non-cash gains increasing Consolidated Net Income of such Person for  such period (other than any such amounts in connection with the sale of routes to  independent operators), excluding any non-cash gains to the extent they represent the  reversal of an accrual or cash reserve for a potential cash item that reduced Consolidated  EBITDA in any prior period and any non-cash gains with respect to cash actually  received in a prior period so long as such cash did not increase Consolidated EBITDA in  such prior period; plus    (ii) realized foreign exchange income or gains resulting from the impact of  foreign currency changes on the valuation of assets or liabilities on the balance sheet of  the Parents, the Borrower and the Restricted Subsidiaries; plus    (iii) any net realized income or gains from any obligations under any Swap  Contracts or embedded derivatives that require similar accounting treatment and the  -19-  #95982248v17   application of Accounting Standard Codification Topic 815 and related pronouncements;  plus    (iv) any amount included in Consolidated Net Income of such Person for  such period attributable to non-controlling interests pursuant to the application of  Accounting Standards Codification Topic 810-10-45;    (c) increased or decreased (without duplication) by, as applicable, any adjustments  resulting from the application of Accounting Standards Codification Topic 460 or any  comparable regulation; and    (d) increased or decreased (to the extent not already included in determining  Consolidated EBITDA) by any Pro Forma Adjustment.    There shall be included in determining Consolidated EBITDA for any period, without  duplication, (A) the Acquired EBITDA of any Person, property, business or asset acquired by any Parent,  the Borrower or any Restricted Subsidiary during such period (but not the Acquired EBITDA of any  related Person, property, business or assets to the extent not so acquired), to the extent not subsequently  sold, transferred or otherwise disposed of by such Parent, the Borrower or such Restricted Subsidiary  during such period (each such Person, property, business or asset acquired and not subsequently so  disposed of, an “Acquired Entity or Business”), and the Acquired EBITDA of any Unrestricted  Subsidiary that is converted into a Restricted Subsidiary during such period (each, a “Converted  Restricted Subsidiary”), based on the actual Acquired EBITDA of such Acquired Entity or Business or  Converted Restricted Subsidiary for such period (including the portion thereof occurring prior to such  acquisition) and (B) an adjustment in respect of each Acquired Entity or Business equal to the amount of  the Pro Forma Adjustment with respect to such Acquired Entity or Business for such period (including  the portion thereof occurring prior to such acquisition) as specified in a certificate executed by a  Responsible Officer and delivered to the Lenders and the Administrative Agent. For purposes of  determining the Consolidated EBITDA for any period, there shall be excluded in determining  Consolidated EBITDA for any period the Disposed EBITDA of any Person, property, business or asset  (other than an Unrestricted Subsidiary) sold, transferred or otherwise disposed of, closed or classified as  discontinued operations by any Parent, the Borrower or any Restricted Subsidiary during such period  (each such Person, property, business or asset so sold or disposed of, a “Sold Entity or Business”) and the  Disposed EBITDA of any Restricted Subsidiary that is converted into an Unrestricted Subsidiary during  such period (each, a “Converted Unrestricted Subsidiary”), based on the actual Disposed EBITDA of such  Sold Entity or Business or Converted Unrestricted Subsidiary for such period (including the portion  thereof occurring prior to such sale, transfer or disposition). Notwithstanding the foregoing, but subject  to any adjustment set forth above with respect to any transactions occurring after the Closing Date,  Consolidated EBITDA shall be $25.4 million, $26.1 million, $25.8 million and $30.9 million for the  fiscal quarters ended September 2016, December 2016, March 2017 and June 2017, respectively.    “Consolidated Interest Expense” means, with respect to any Person for any period (and  with respect to the Parents, the Borrower and Restricted Subsidiaries, such Persons on a Consolidated  basis), without duplication, the sum of:    (1) consolidated interest expense of such Person for such period, to the extent such  expense was deducted (and not added back) in computing Consolidated Net Income (including  (a) amortization of original issue discount or premium resulting from the issuance of  Indebtedness at less than par, (b) all commissions, discounts and other fees and charges owed  with respect to letters of credit or bankers acceptances, (c) non-cash interest payments, (d) the    -20-  





 






#95982248v17   interest component of Capitalized Lease Obligations and (e) net payments, if any, pursuant to  interest rate obligations under any Swap Contracts with respect to Indebtedness); plus    (2) consolidated capitalized interest of such Person for such period, whether paid or  accrued; less    (3) interest income for such period.    For purposes of this definition, interest on a Capitalized Lease Obligation shall be  deemed to accrue at an interest rate reasonably determined by such Person to be the rate of interest  implicit in such Capitalized Lease Obligation in accordance with GAAP.    “Consolidated Net Income” means, with respect to any Person for any period, the net  income (loss) of such Person for such period determined on a consolidated basis in accordance with  GAAP (and with respect to the Parents, the Borrower and Restricted Subsidiaries, such Persons on a  Consolidated basis); provided, however, that there will not be included in such Consolidated Net Income:    (1) any net income (loss) of any Person if such Person is not a Restricted Subsidiary,  except that any Parent’s equity in the net income of any such Person for such period will be  included in such Consolidated Net Income up to the aggregate amount of cash or Cash  Equivalents actually distributed (or, so long as such Person is not (x) a JV Entity with outstanding  third party indebtedness for borrowed money or (y) an Unrestricted Subsidiary, that (as  reasonably determined by a Responsible Officer of the Borrower) could have been distributed by  such Person during such period to a Parent, the Borrower or a Restricted Subsidiary) as a  dividend or other distribution or return on investment, subject, in the case of a dividend or other  distribution or return on investment to a Restricted Subsidiary, to the limitations contained in  clause (2) below;    (2) solely for the purpose of determining the Available Amount, any net income  (loss) of any Restricted Subsidiary (other than any Guarantor) if such Subsidiary is subject to  restrictions, directly or indirectly, on the payment of dividends or the making of distributions by  such Restricted Subsidiary, directly or indirectly, to a Borrower or a Guarantor by operation of  the terms of such Restricted Subsidiary’s charter or any agreement, instrument, judgment, decree,  order, statute or governmental rule or regulation applicable to such Restricted Subsidiary or its  shareholders (other than (a) restrictions that have been waived or otherwise released and  (b) restrictions pursuant to the Loan Documents or the ABL Facility), except that any Parent’s  equity in the net income of any such Restricted Subsidiary for such period will be included in  such Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents actually  distributed or that could have been distributed by such Restricted Subsidiary during such period  to a Parent, the Borrower or another Restricted Subsidiary as a dividend or other distribution  (subject, in the case of a dividend to another Restricted Subsidiary, to the limitation contained  above in this clause);    (3) any net gain (or loss) from disposed, abandoned or discontinued operations and  any net gain (or loss) on disposal of disposed, discontinued or abandoned operations;    (4) any net gain (or loss) realized upon the sale or other disposition of any asset or  disposed operations of any Parent, the Borrower or any Restricted Subsidiary (including pursuant  to any sale/leaseback transaction) which is not sold or otherwise disposed of in the ordinary      -21-  #95982248v17   course of business (as determined in good faith by a Responsible Officer or the board of directors  of the Borrower), including the gain on the sale of routes to independent operators;    (5) any extraordinary, exceptional, unusual or nonrecurring gain, loss, charge or  expense (including relating to the Transaction Expenses), or any charges, expenses or reserves in  respect of any restructuring, relocation, redundancy or severance expense, new product  introductions or one-time compensation charges;    (6) the cumulative effect of a change in accounting principles;    (7) any (i) non-cash compensation charge or expense arising from any grant of stock,  stock options or other equity based awards (including any long-term management equity  incentive plans) and any non-cash deemed finance charges in respect of any pension liabilities or  other provisions and (ii) income (loss) attributable to deferred compensation plans or trusts;    (8) all deferred financing costs written off and premiums paid or other expenses  incurred directly in connection with any early extinguishment of Indebtedness and any net gain  (loss) from any write-off or forgiveness of Indebtedness;    (9) any unrealized gains or losses in respect of any obligations under any Swap  Contracts or any ineffectiveness recognized in earnings related to hedge transactions or the fair  value of changes therein recognized in earnings for derivatives that do not qualify as hedge  transactions, in each case, in respect of any obligations under any Swap Contracts;    (10) any unrealized foreign currency translation gains or losses in respect of  Indebtedness of any Person denominated in a currency other than the functional currency of such  Person and any unrealized foreign exchange gains or losses relating to translation of assets and  liabilities denominated in foreign currencies;    (11) any unrealized foreign currency translation or transaction gains or losses in  respect of Indebtedness or other obligations of any Parent, the Borrower or any Restricted  Subsidiary owing to any Parent, the Borrower or any Restricted Subsidiary;    (12) any purchase accounting effects including, but not limited to, adjustments to  inventory, property and equipment, software and other intangible assets and deferred revenue in  component amounts required or permitted by GAAP and related authoritative pronouncements  (including the effects of such adjustments pushed down to the Parents, the Borrower and the  Restricted Subsidiaries), as a result of any consummated acquisition (including the Golden Flake  Acquisition), or the amortization or write-off of any amounts thereof (including any write-off of  in process research and development);    (13) any impairment charge, write-down or write-off, including impairment charges,  write-downs or write-offs relating to goodwill, intangible assets, long-lived assets, investments in  debt and equity securities or as a result of a Change in Law or regulation;    (14) any after-tax effect of income (loss) from the early extinguishment or  cancellation of Indebtedness or any obligations under any Swap Contracts or other derivative  instruments;        -22-  





 






#95982248v17   (15) accruals and reserves that are established within twelve months after the Closing  Date that are so required to be established as a result of the Transaction in accordance with  GAAP;    (16) any net unrealized gains and losses resulting from Swap Contracts or embedded  derivatives that require similar accounting treatment and the application of Accounting Standards  Codification Topic 815 and related pronouncements; and    (17) any deferred tax expense associated with tax deductions or net operating losses  arising as a result of the Transactions, or the release of any valuation allowance related to such  item.    In addition, to the extent not already excluded from the Consolidated Net Income of such  Person, notwithstanding anything to the contrary in the foregoing, Consolidated Net Income shall exclude  (i) any expenses and charges that are reimbursed by indemnification or other reimbursement provisions in  connection with any investment (including the Golden Flake Acquisition) or any sale, conveyance,  transfer or other disposition of assets permitted hereunder (it being understood and agreed that if such  Person has notified a third party of such amount to be reimbursed or indemnified and such third party has  not denied its reimbursement or indemnification obligation, such amounts shall also be excluded) and (ii)  to the extent covered by insurance and actually reimbursed, or, so long as the Borrower has made a  determination that there exists reasonable evidence that such amount will in fact be reimbursed by the  insurer and only to the extent that such amount is (A) not denied by the applicable carrier in writing  within 180 days and (B) in fact reimbursed within 365 days of the date of such evidence (with a  deduction for any amount so added back to the extent not so reimbursed within such 365 days), expenses  with respect to liability or casualty events or business interruption.    “Consolidated Total Debt” means, as of any date of determination, (a) the aggregate  principal amount of Indebtedness of the Parents, the Borrower and the Restricted Subsidiaries outstanding  on such date, determined on a consolidated basis in accordance with GAAP (but excluding the effects of  any discounting of Indebtedness resulting from the application of purchase accounting in connection with  the Transaction or any Permitted Acquisition), consisting of Indebtedness for borrowed money,  Disqualified Equity Interests, Capitalized Lease Obligations and debt obligations evidenced by bonds,  debentures, notes, loan agreements or other similar instruments minus (b) the aggregate amount of  unrestricted cash and Cash Equivalents (in each case, free and clear of all Liens other than any  nonconsensual Lien that is permitted under the Loan Documents, Liens of the Collateral Agent, Liens in  favor of the ABL Administrative Agent under the ABL Loan Documents and Liens that are subordinated  to or pari passu with the Liens of the Collateral Agent pursuant to the Applicable Intercreditor  Agreement) included in the Consolidated balance sheet of the Parents, the Borrower and the Restricted  Subsidiaries as of such date, which aggregate amount of cash and Cash Equivalents shall be determined  without giving pro forma effect to the proceeds of Indebtedness incurred on such date; provided that  Consolidated Total Debt shall not include (x) obligations under Swap Contracts entered into in the  ordinary course of business and not for speculative purposes, (y) guarantees of indebtedness of  independent operators in an amount of up to $5.0 million and (z) Indebtedness in respect of any Permitted  Non-Recourse Factoring.    “Consolidated Working Capital” means, at any date, the excess of (x) all amounts (other  than cash and Cash Equivalents) that would, in conformity with GAAP, be set forth opposite the caption  “total current assets” (or any like caption) on a Consolidated balance sheet of the Parents, the Borrower  and the Restricted Subsidiaries at such date over (y) all amounts that would, in conformity with GAAP,  be set forth opposite the caption “total current liabilities” (or any like caption) on a Consolidated balance  sheet of the Parents, the Borrower and the Restricted Subsidiaries on such date, but excluding, without  -23-  #95982248v17   duplication, (a) the current portion of any Funded Debt or other long-term liabilities, (b) all Indebtedness  consisting of Loans under the ABL Facility, Swing Line Loans (as defined in the ABL Facility) and L/C  Obligations (as defined in the ABL Facility) to the extent otherwise included therein, (c) the current  portion of interest, (d) the current portion of current and deferred income taxes, (e) the current portion of  any Capitalized Lease Obligations, (f) deferred revenue arising from cash receipts that are earmarked for  specific projects, (g) the current portion of deferred acquisition costs and (h) current accrued costs  associated with any restructuring or business optimization (including accrued severance and accrued  facility closure costs).    “Contract Consideration” has the meaning specified in Section 2.05(b)(i).    “Contractual Obligation” means, as to any Person, any provision of any security issued  by such Person or of any agreement, instrument or other undertaking to which such Person is a party or  by which it or any of its property is bound.    “Contribution Indebtedness” means unsecured Indebtedness of any Parent, the Borrower  or any Restricted Subsidiary in an amount equal to the aggregate amount of cash contributions made after  the Closing Date to any Parent in exchange for Qualified Equity Interests of any Parent, except to the  extent utilized in connection with any other transaction permitted by Section 7.02, Section 7.06 or Section  7.08, and except to the extent such amount increases the Available Amount or is made from Cure  Amounts or the Excluded Contribution Amount.    “Control” has the meaning specified in the definition of “Affiliate.”    “Converted Restricted Subsidiary” has the meaning specified in the definition of  “Consolidated EBITDA.”    “Converted Unrestricted Subsidiary” has the meaning specified in the definition of  “Consolidated EBITDA.”    “Covered Party” has the meaning specified in Section 10.27(a).  “Credit Extension” means a Borrowing.  “Cure Amount” has the meaning specified in the ABL Credit Agreement.    “Daily Simple SOFR” with respect to any applicable determination date means the SOFR  published on such date on the Federal Reserve Bank of New York’s website (or any successor source).    “Debtor Relief Laws” means the Bankruptcy Code of the United States and all other  liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,  rearrangement, receivership, insolvency, reorganization or similar debtor relief Laws of the United States  or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.    “Declined Proceeds” has the meaning specified in Section 2.05(b)(vi).    “Default” means any event or condition that constitutes an Event of Default or that, with  the giving of any notice, the passage of time, or both, would be an Event of Default.    “Default Rate” means an interest rate equal to (a) with respect to any overdue principal  for any Loan, the applicable interest rate for such Loan plus 2.00% per annum (provided that with respect    -24-  





 






#95982248v17   to Eurocurrency RateTerm SOFR Loans, the determination of the applicable interest rate is subject to  Section 2.02(c) to the extent that Eurocurrency RateTerm SOFR Loans may not be converted to, or  continued as, Eurocurrency Rate Term SOFR Loans, pursuant thereto) and (b) with respect to any other  overdue amount, including overdue interest, the interest rate applicable to Base Rate Loans plus 2.00%  per annum, in each case, to the fullest extent permitted by applicable Laws.    “Defaulting Lender” means any Lender that (a) has failed or refused (in writing), within  two (2) Business Days of the date required to be funded or paid, to (i) fund any portion of its Loans  required to be funded by it or (ii) pay over to the Administrative Agent or any other Lender any other  amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies  the Administrative Agent in writing that such failure is the result of such Lender’s good faith  determination that a condition precedent to funding (specifically identified and including the particular  default, if any) has not been satisfied, (b) has notified the Borrower or the Administrative Agent or any  other Lender in writing that it does not intend or expect to comply with any of its funding obligations  under this Agreement (unless such writing indicates that such position is based on such Lender’s good  faith determination that a condition precedent (specifically identified and including the particular default,  if any) to funding a Loan cannot be satisfied), (c) has failed, within three (3) Business Days after request  by the Administrative Agent or any other Lender, acting in good faith, to provide a certification in writing  from an authorized officer of such Lender that it will comply with its obligations to fund prospective  Loans, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon  such Administrative Agent’s or Lender’s receipt of such certification in form and substance satisfactory to  it and the Administrative Agent, (d) has become the subject of a Bankruptcy Event, or (e) has become the  subject of a Bail-In Action. Any determination by the Administrative Agent that a Lender is a Defaulting  Lender under any one or more of clauses (a) through (e) above, and of the effective date of such status,  shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting  Lender (subject to the last paragraph of Section 2.16) as of the date established therefor by the  Administrative Agent in a written notice of such determination, which shall be delivered by the  Administrative Agent to the Borrower and each other Lender promptly following such determination.    “Designated Non-Cash Consideration” means the fair market value of non-cash  consideration received by any Parent, the Borrower or any Restricted Subsidiary in connection with a  Disposition pursuant to Section 7.05(m) that is designated as Designated Non-Cash Consideration  pursuant to a certificate of a Responsible Officer of the Borrower setting forth the basis of such valuation.    “Discount Range” has the meaning specified in Section 2.05(d)(ii).    “Discounted Prepayment Option Notice” has the meaning specified in Section 2.05(d)(ii).  “Discounted Voluntary Prepayment” has the meaning specified in Section 2.05(d)(i).  “Discounted Voluntary Prepayment Notice” has the meaning specified in Section  2.05(d)(v).    “Disposed EBITDA” means, with respect to any Sold Entity or Business or any  Converted Unrestricted Subsidiary for any period, the amount for such period of Consolidated EBITDA  of such Sold Entity or Business or such Converted Unrestricted Subsidiary, all as determined on a  consolidated basis for such Sold Entity or Business or such Converted Unrestricted Subsidiary.    “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition  (including any Sale Leaseback and any sale of Equity Interests) of any property by any Person (in one  transaction or in a series of transaction and whether effected pursuant to a Division or otherwise),  -25-  #95982248v17   including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or  accounts receivable or any rights and claims associated therewith; provided that (i) “Disposition” and  “Dispose” shall not be deemed to include any issuance by any Parent, any Intermediate Holding  Company or the Borrower of any of its Equity Interests to another Person and (ii) no transaction or series  of related transactions shall be considered a “Disposition” for purpose of Section 2.05(b)(ii) or Section  7.05 unless the fair market value (as determined in good faith by the Borrower) of the property disposed  of in such transaction or series of transactions shall exceed $20,000,000.    “Disqualified Equity Interests” means any Equity Interest which, by its terms (or by the  terms of any security or other Equity Interests into which it is convertible or for which it is  exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable  (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise  (except as a result of an initial public offering, change of control or asset sale so long as any rights of the  holders thereof upon the occurrence of an initial public offering, change of control or asset sale event  shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and  payable and the termination of all Term Commitments), (b) is redeemable at the option of the holder  thereof (other than solely for Qualified Equity Interests), in whole or in part, (c) provides for the  scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for  Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each  case, prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time such Equity  Interests are issued.    “Disqualified Lenders” means (i) such Persons that have been specified in writing to the  Lead Arrangers by the Borrower prior to October 31, 2017, (ii) competitors of the Parents, the Borrower  and the other Subsidiaries that have been specified in writing to the Administrative Agent from time to  time by the Borrower and (iii) any of their Affiliates (other than in the case of clause (ii), Affiliates that  are bona fide debt funds) that are (x) identified in writing from time to time to the Administrative Agent  by the Borrower or (y) clearly identifiable on the basis of such Affiliates’ name; provided that no such  updates to the list shall be deemed to retroactively disqualify any parties that have previously acquired an  assignment or participation interest in respect of the Loans from continuing to hold or vote such  previously acquired assignments and participations on the terms set forth herein for Lenders that are not  Disqualified Lenders (it being understood and agreed that such prohibitions with respect to Disqualified  Lenders shall apply to any potential future assignments or participations to any such parties). The  schedule of Disqualified Lenders shall be maintained with the Administrative Agent and may be  communicated to a Lender upon request to the Administrative Agent (with concurrent notice to the  Borrower) but shall not otherwise be posted or made available to Lenders.    “Distribution Asset Transferee” means the Person or Persons holding the assets disposed  of pursuant to any Permitted Distribution Business Disposition.  “Dividing Person” has the meaning assigned to it in the definition of “Division.”  “Division” means the division of the assets, liabilities and/or obligations of a Person (the  “Dividing Person”) among two or more Persons (whether pursuant to a “plan of division” or similar  arrangement), which may or may not include the Dividing Person and pursuant to which the Dividing  Person may or may not survive.    “Dollar” and “$” mean lawful money of the United States.        -26-  





 






#95982248v17   “Domestic Subsidiary” means any Subsidiary that is organized under the laws of the  United States, any state thereof or the District of Columbia, other than a Foreign Holding Company.    “ECF Percentage” has the meaning specified in Section 2.05(b)(i).    “EEA Financial Institution” means (a) any credit institution or investment firm  established in any EEA Member Country which is subject to the supervision of an EEA Resolution  Authority, (b) any entity established in an EEA Member Country which is a parent of an institution  described in clause (a) of this definition, or (c) any financial institution established in an EEA Member  Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is  subject to consolidated supervision with its parent;    “EEA Member Country” means any of the member states of the European Union,  Iceland, Liechtenstein, and Norway.    “EEA Resolution Authority” means any public administrative authority or any person  entrusted with public administrative authority of any EEA Member Country (including any delegee)  having responsibility for the resolution of any EEA Financial Institution.    “Effective Yield” means, with respect to any Indebtedness, as of any date of  determination, the sum of (i) the higher of (A) the Eurocurrency RateTerm SOFR (or other applicable  similar rate) on such date for a deposit in Dollars with a maturity of one month and (B) the Eurocurrency  rateTerm SOFR “floor,” if any, with respect thereto as of such date, (ii) the Applicable Rate (or other  applicable margin) as of such date for Eurocurrency RateTerm SOFR Loans (or other loans that accrue  interest by reference to a similar reference rate) and (iii) the amount of original issue discount and upfront  fees thereon (converted to yield assuming a four-year average life and without any present value  discount), but excluding the effect of any arrangement, commitment, structuring, underwriting, ticking,  unused line, amendment, syndication and/or other fees payable in connection therewith that are not shared  generally with all lenders or holders of such Indebtedness; provided that the amounts set forth in clauses  (i) and (ii) above for any term loans that are not incurred under this Agreement shall be based on the  stated interest rate basis for such term loans.    “Eligible Assignee” means any Assignee permitted by and consented to in accordance  with Section 10.07(b).    “EMU Legislation” means the legislative measures of the European Council for the  introduction of, changeover to or operation of a single or unified European currency.    “Engagement Letter” means the Amended and Restated Engagement Letter dated  October 31, 2017, by and among the Borrower, Bank of America and Merrill Lynch, Pierce, Fenner &  Smith Incorporated, Goldman Sachs Bank USA, Manufacturers and Traders Trust Company and PNC  Capital Markets LLC, and as otherwise amended, supplemented or modified from time to time.    “Environment” means ambient air, indoor or outdoor air, surface water, groundwater,  drinking water, soil, surface and subsurface strata, and natural resources such as wetlands, flora and  fauna.    “Environmental Laws” means any and all applicable Laws relating to pollution,  protection of the Environment or to the generation, transport, storage, use, treatment, handling, disposal,      -27-  #95982248v17   Release or threat of Release of any Hazardous Materials or, to the extent relating to exposure to  Hazardous Materials, human health or safety.    “Environmental Liability” means any liability, contingent or otherwise (including any  liability for damages, costs of environmental remediation, fines, penalties or indemnities) of any Loan  Party or any of its respective Subsidiaries directly or indirectly resulting from or based upon (a) any  Environmental Law, (b) the generation, use, handling, transportation, storage, disposal or treatment of any  Hazardous Materials, (c) exposure of any Person to any Hazardous Materials, (d) the Release or  threatened Release of any Hazardous Materials or (e) any contract, agreement or other consensual  arrangement to the extent liability is assumed or imposed with respect to any of the foregoing.    “Equity Interests” means, with respect to any Person, all of the shares, interests, rights,  participations or other equivalents (however designated) of capital stock of (or other ownership or profit  interests or units in) such Person and all of the warrants, options or other rights for the purchase,  acquisition or exchange from such Person of any of the foregoing (including through convertible  securities).    “ERISA” means the Employee Retirement Income Security Act of 1974, as amended  from time to time, and the rules and regulations promulgated thereunder.    “ERISA Affiliate” means any trade or business (whether or not incorporated) that is  under common control with any Loan Party and is treated as a single employer within the meaning of  Section 414 of the Code or Section 4001 of ERISA.    “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a  withdrawal by any Loan Party or any ERISA Affiliate from a Pension Plan subject to Section 4063 of  ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of  ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA;  (c) a failure to satisfy the minimum funding standard under Section 412 of the Code or Section 302 of  ERISA with respect to a Pension Plan, whether or not waived, or a failure to make any required  contribution to a Multiemployer Plan; (d) a complete or partial withdrawal by any Loan Party or any  ERISA Affiliate from a Multiemployer Plan, notification of any Loan Party or ERISA Affiliate  concerning the imposition of Withdrawal Liability or notification that a Multiemployer Plan is insolvent  within the meaning of Title IV of ERISA or in endangered status or critical status, within the meaning of  Section 305 of ERISA; (e) the filing of a notice of intent to terminate, the treatment of a Pension Plan or  Multiemployer Plan amendment as a termination under Section 4041 or 4041A of ERISA, or the  commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (f) an  event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the  appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; (g) the imposition of any  liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section  4007 of ERISA, upon any Loan Party or any ERISA Affiliate; (h) a determination that any Pension Plan  is, or is expected to be, in “at-risk” status (within the meaning of Section 303(i)(4)(A) of ERISA or  Section 430(i)(4)(A) of the Code); or (i) the occurrence of a non-exempt prohibited transaction with  respect to any Pension Plan maintained or contributed to by any Loan Party (within the meaning of  Section 4975 of the Code or Section 406 of ERISA) which could result in liability to any Loan Party.    “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published  by the Loan Market Association (or any successor person), as in effect from time to time.        -28-  





 






#95982248v17   “Euro”, “EUR” and “€” mean the lawful currency of the Participating Member States  introduced in accordance with the EMU Legislation.    “Eurocurrency Rate” means:    (A) Subject to Section 1.10, for any Credit Extension, for any Interest Period with  respect to any Eurocurrency Rate Loan denominated in Dollars, the rate per annum equal to the  London Interbank Offered Rate (“LIBOR”) or a comparable or successor rate which rate is  approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or  such other commercially available source providing such quotations as may be designated by the  Administrative Agent from time to time) at approximately 11:00 a.m., London time, on the  relevant Quotation Date, for deposits in the relevant currency (for delivery on the first day of  such Interest Period) with a term equivalent to such Interest Period; and    (B) for any calculation of the Base Rate on any date by reference to the Eurocurrency  Rate, the rate per annum equal to LIBOR, at or about 11:00 a.m., London time determined two  Business Days prior to such date for U.S. Dollar deposits with a term of one month commencing  that day.    Notwithstanding any provision to the contrary in this Agreement, the applicable Eurocurrency Rate in  respect of the Term Loans shall at no time be less than 0.00% per annum.    “Eurocurrency Rate Loan” means a Loan that bears interest at a rate based on the  Eurocurrency Rate.    “Event of Default” has the meaning specified in Section 8.01.    “Excess Cash Flow” means, for any period, an amount equal to the excess of:    (a) the sum, without duplication, of:    (i) Consolidated Net Income for such period;    (ii) an amount equal to the amount of all non-cash charges (including  depreciation and amortization) to the extent deducted in arriving at such Consolidated  Net Income;    (iii) decreases in Consolidated Working Capital for such period (other than  any such decreases arising from acquisitions by the Parents, the Borrower and the  Restricted Subsidiaries completed during such period or the application of purchase  accounting);    (iv) an amount equal to the aggregate net non-cash loss on Dispositions by  the Parents, the Borrower and the Restricted Subsidiaries during such period (other than  Dispositions in the ordinary course of business) to the extent deducted in arriving at such  Consolidated Net Income; and    (v) cash receipts in respect of Swap Contracts during such period to the  extent not otherwise included in Consolidated Net Income; over        -29-  #95982248v17   (b) the sum, without duplication, of:    (i) an amount equal to the amount of all non-cash credits included in  arriving at such Consolidated Net Income and cash charges (including interest) to the  extent included in arriving at such Consolidated Net Income;    (ii) [reserved];    (iii) the aggregate amount of all principal payments of Indebtedness of the  Parents, the Borrower and the Restricted Subsidiaries (including (A) payments of the  principal component of Capitalized Lease Obligations and (B) the amount of repayments  of Term Loans pursuant to Section 2.07 and any mandatory prepayment of Term Loans  pursuant to Section 2.05(b) to the extent required due to a Disposition that resulted in an  increase to such Consolidated Net Income and not in excess of the amount of such  increase but excluding (X) all other prepayments of Term Loans, (Y) all prepayments  under the ABL Facility and (Z) all prepayments in respect of any other revolving credit  facility) made during such period, except to the extent financed with the proceeds of an  incurrence or issuance of other Indebtedness (other than revolving loans) of the Parents,  the Borrower or the Restricted Subsidiaries;    (iv) an amount equal to the aggregate net non-cash gain on Dispositions by  the Parents, the Borrower and the Restricted Subsidiaries during such period (other than  Dispositions in the ordinary course of business) to the extent included in arriving at such  Consolidated Net Income;    (v) increases in Consolidated Working Capital for such period (other than  any such increases arising from acquisitions by the Parents, the Borrower and the  Restricted Subsidiaries completed during such period or the application of purchase  accounting);    (vi) cash payments by the Parents, the Borrower and the Restricted  Subsidiaries during such period in respect of long-term liabilities of the Parents, the  Borrower and the Restricted Subsidiaries other than Indebtedness (including such  Indebtedness specified in clause (b)(iii) above);    (vii) [reserved];    (viii) [reserved];    (ix) the aggregate amount of any premium, make-whole or penalty payments  actually paid in cash by the Parents, the Borrower and the Restricted Subsidiaries during  such period that are required to be made in connection with any prepayment of  Indebtedness except to the extent that such amounts were financed with the proceeds of  an incurrence or issuance of Indebtedness of the Parents, the Borrower or the Restricted  Subsidiaries (other than revolving loans);    (x) the aggregate amount of expenditures actually made by the Parents, the  Borrower and the Restricted Subsidiaries in cash during such period (including  expenditures for the payment of financing fees) to the extent that such expenditures are  not expensed during such period and were not financed with the proceeds of an    -30-  





 






#95982248v17   incurrence or issuance of Indebtedness of the Parents, the Borrower or the Restricted  Subsidiaries (other than revolving loans);    (xi) [reserved];    (xii) the amount of cash Taxes (including penalties and interest) paid or tax  reserves set aside or payable (without duplication) in such period to the extent they  exceed the amount of tax expense deducted in determining Consolidated Net Income for  such period; and    (xiii) cash expenditures in respect of Swap Contracts during such fiscal year to  the extent not deducted in arriving at such Consolidated Net Income.    “Excess Cash Flow Prepayment Amount” has the meaning specified in Section  2.05(b)(i).    “Exchange Act” means the Securities Exchange Act of 1934.    “Excluded Contribution Amount” means the aggregate amount of cash or Cash  Equivalents received by any Parent (other than from any of the Restricted Subsidiaries or the Borrower)  after the Closing Date from capital contributions, minus the aggregate amount of (i) any Investments  made pursuant to Section 7.02(n)(ii) (net of any return of capital in respect of such Investment or deemed  reduction in the amount of such Investment), (ii) any Restricted Payment made pursuant to Section  7.06(k)(ii) and (iii) any payments made pursuant to Section 7.08(a)(iii)(C), in each case made during the  period commencing on the Closing Date through and including the date of usage of such Excluded  Contribution Amount in reliance thereon (without taking account of the intended usage of the Excluded  Contribution Amount as of such date), designated as an Excluded Contribution Amount pursuant to a  certificate of a Responsible Officer on or promptly after the date on which the relevant capital  contribution is made or the relevant proceeds are received, as the case may be, and which are excluded  from the calculation of the Available Amount.    “Excluded Equity” means Equity Interests (i) of any Unrestricted Subsidiary, (ii) of any  Subsidiary acquired pursuant to a Permitted Acquisition financed with Indebtedness permitted pursuant to  Section 7.03(v) if such Equity Interests are pledged and/or mortgaged as security for such Indebtedness  and if and for so long as the terms of such Indebtedness prohibit the creation of any other Lien on such  Equity Interests (and which prohibition was not created in contemplation of such Permitted Acquisition),  (iii) of any Foreign Subsidiary (in each case other than any Guarantor designated as such pursuant to the  definition of “Guarantor”), in each case of any Parent or a Domestic Subsidiary of any Parent and not  otherwise constituting Excluded Equity, in excess of 65% of the issued and outstanding Equity Interests  of each such Foreign Subsidiary (and of any subsidiary of such Foreign Subsidiary), (iv) of any  Subsidiary with respect to which the Administrative Agent and the Borrower have determined in their  reasonable judgment and agreed in writing that the costs of providing a pledge of such Equity Interests or  perfection thereof is excessive in view of the benefits to be obtained by the Secured Parties therefrom, (v)  of any captive insurance companies, not-for-profit Subsidiaries, special purpose entities (including any  entity used to effect a Permitted Receivables Financing), (vi) of any non-Wholly Owned Restricted  Subsidiary; and (vii) of any Subsidiary outside the United States (other than any Guarantor designated as  such pursuant to the definition of “Guarantor”) the pledge of which is prohibited by applicable Laws or  which would reasonably be expected to result in a violation or breach of, or conflict with, fiduciary duties  of such Subsidiary’s officers, directors or managers.      -31-  #95982248v17   “Excluded Property” means (i) any fee-owned real property, including any and all lands,  buildings, structures, improvements and “Fixtures” (as such term is defined in the UCC) located thereon  or affixed thereto and any leasehold interests in real property (it being understood that no action shall be  required with respect to creation or perfection of security interests with respect to such leases, including  to obtain landlord waivers, estoppels or collateral access letters), (ii) (A) motor vehicles and other assets  subject to certificates of title to the extent a Lien thereon cannot be perfected by the filing of a UCC  financing statement, (B) letter of credit rights to the extent a Lien thereon cannot be perfected by the  filing of a UCC financing statement and (C) commercial tort claims, (iii) assets for so long as a pledge  thereof or a security interest therein is prohibited by applicable Laws, (iv) margin stock, (v) (x) any cash,  deposit accounts and securities accounts (including securities entitlements and related assets) (it being  understood that this exclusion shall not affect the grant of the Lien on proceeds of Collateral and all  proceeds of Collateral shall be Collateral), unless the foregoing constitutes ABL Priority Collateral in  which case the foregoing shall not constitute Excluded Property until such time that it no longer  constitutes ABL Priority Collateral and (y) [reserved], (vi) any lease, license or other agreements, or any  property subject to a purchase money security interest, Capitalized Lease Obligation or similar  arrangements, in each case to the extent permitted under the Loan Documents, to the extent that a pledge  thereof or a security interest therein would violate or invalidate such lease, license or agreement, purchase  money, Capitalized Lease or similar arrangement, or create a right of termination in favor of any other  party thereto (other than the Borrower or a Guarantor) after giving effect to the applicable anti-assignment  clauses of the Uniform Commercial Code and applicable Laws, other than the proceeds and receivables  thereof the assignment of which is expressly deemed effective under applicable Laws notwithstanding  such prohibition, (vii) assets for which a pledge thereof or a security interest therein would result in a  material adverse tax consequence as reasonably determined by the Borrower (in consultation with (but  without the consent of) the Administrative Agent) (provided that nothing in this clause (vii) shall limit the  pledge of assets by any Foreign Subsidiary that is designated a Guarantor pursuant to the definition of  “Guarantor” without the Administrative Agent’s consent), (viii) assets for which the Administrative  Agent and the Borrower have determined in their reasonable judgment and agree in writing that the cost  of creating or perfecting such pledges or security interests therein would be excessive in view of the  benefits to be obtained by the Lenders therefrom, (ix) any intent-to-use trademark application in the  United States prior to the filing of a “Statement of Use” or “Amendment to Allege Use” with respect  thereto, to the extent, if any, that, and solely during the period, if any, in which, the grant, attachment, or  enforcement of a security interest therein would impair the validity or enforceability of such intent-to-use  trademark application under applicable Federal law and (x) Excluded Equity.    “Excluded Subsidiary” means (a) each Subsidiary listed on Schedule 1.01C hereto,  (b) any Subsidiary that is prohibited by applicable Law or by any contractual obligation existing on the  Closing Date (or, if later, the date such Subsidiary first becomes a Subsidiary) from guaranteeing the  Obligations (and in the case of such contractual obligation, not entered into in contemplation of the  acquisition of such Subsidiary) or which would require governmental (including regulatory) consent,  approval, license or authorization to provide a Guarantee unless such consent, approval, license or  authorization has been received, (c) any Restricted Subsidiary acquired pursuant to a Permitted  Acquisition that, at the time of such Permitted Acquisition, has assumed secured Indebtedness not  incurred in contemplation of such Permitted Acquisition and each Restricted Subsidiary that is a  Subsidiary thereof that guarantees such Indebtedness to the extent such secured Indebtedness prohibits  such Subsidiary from becoming a Guarantor (provided that each such Restricted Subsidiary shall cease to  be an Excluded Subsidiary under this clause (c) if such secured Indebtedness is repaid or becomes  unsecured, if such Restricted Subsidiary ceases to be an obligor with respect to such secured Indebtedness  or such prohibition no longer exists, as applicable), (d) any Immaterial Subsidiary or Unrestricted  Subsidiary, (e) captive insurance companies, (f) not-for-profit Subsidiaries, (g) special purpose entities,  (h) any non-Wholly Owned Subsidiary, (i) any Foreign Subsidiary, (j) any Subsidiary of a Foreign  Subsidiary and (k) any other Subsidiary with respect to which, in the reasonable judgment of the  -32-  





 






#95982248v17   Administrative Agent (confirmed in writing by notice to the Borrower), the cost or other consequences  (including any adverse tax consequences) of providing a Guarantee shall be excessive in view of the  benefits to be obtained by the Lenders therefrom; in each case of this definition, unless such Subsidiary is  designated by the Borrower as a Guarantor pursuant to the definition of “Guarantors”.    “Excluded Taxes” means, with respect to any Recipient of any payment to be made by or  on account of any obligation of the Borrower hereunder, (a) Taxes imposed on or measured by net  income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed by  the jurisdiction under the laws of which such Recipient is organized or in which its principal office is  located or, in the case of any Lender, in which its applicable lending office is located or (ii) that are Other  Connection Taxes, (b) any branch profit Tax or any similar Tax that is imposed by any jurisdiction  described in clause (a) above, (c) in the case of a Lender (other than an assignee pursuant to a request by  the Borrower), any United States federal withholding Tax that is in effect and would apply to amounts  payable hereunder to such Lender at the time such Lender becomes a party to this Agreement (or  designates a new lending office), except to the extent that such Lender (or its assignor, if any) was  entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts  from the Borrower with respect to any United States federal withholding Tax pursuant to Section 3.01, (d)  Taxes attributable to such Recipient’s failure to comply with Section 3.01(f) and (e) any United States  federal withholding Tax imposed pursuant to FATCA.    “Existing Credit Agreement” has the meaning specified in the preliminary statements to  this Agreement.    “Extended Term Loans” has the meaning specified in Section 2.15(a).  “Extending Lender” has the meaning specified in Section 2.15(a).  “Extension” has the meaning specified in Section 2.15(a).  “Extension Offer” has the meaning specified in Section 2.15(a).  “Facility” means a Class of Term Loans.  “FATCA” means current Sections 1471 through 1474 of the Code (and any amended or  successor version that is substantively comparable) or any current or future Treasury regulations with  respect thereto or other official administrative interpretations thereof, any agreements entered into  pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described  above) and any intergovernmental agreements entered into to implement or further the collection of Taxes  imposed pursuant to the foregoing (together with any Law implementing such agreements).  “FCPA” means the United States Foreign Corrupt Practices Act of 1977, as amended.  “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted  average of the rates on overnight federal funds transactions with members of the Federal Reserve System,  as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day;  provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate  on such transactions on the next preceding Business Day as so published on the next succeeding Business  Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds  Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of      -33-  #95982248v17   1%) charged to Bank of America on such day on such transactions determined by the Administrative  Agent. If the Federal Funds Rate is less than zero, it shall be deemed to be zero hereunder.    “First Amendment Effective Date” means July 23, 2020.    “First Lien Senior Secured Leverage Ratio” means, with respect to any Test Period, the  ratio of (a) Consolidated Total Debt secured by the Collateral on a pari passu basis with the Facility, plus,  the principal amount of ABL Obligations, as of the last day of such Test Period to (b) Consolidated  EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for such Test Period.    “Fitch” means Fitch Ratings Ltd. and any successor to its rating agency business.  “Fixed Amounts” has the meaning specified in Section 1.09(b).  “Foreign Holding Company” means any Subsidiary that owns no material assets (directly  or through one or more disregarded entities) other than capital stock or Indebtedness of one or more  “controlled foreign corporations” (within the meaning of the Code) and/or Foreign Holding Companies  and cash or Cash Equivalents.    “Foreign Plan” means any employee benefit plan, program, policy, arrangement or  agreement maintained or contributed to or by, or entered into with, any Parent, the Borrower or any  Restricted Subsidiary with respect to employees outside the United States.    “Foreign Subsidiary” means any direct or indirect Subsidiary of any Parent which is not a  Domestic Subsidiary.    “Fourth Amendment Effective Date” means September 22, 2022.    “FRB” means the Board of Governors of the Federal Reserve System of the United  States.    “Fund” means any Person (other than a natural person) that is engaged in making,  purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the  ordinary course of its activities.    “Funded Debt” means all Indebtedness of the Parents, the Borrower and the Restricted  Subsidiaries for borrowed money that matures more than one year from the date of its creation or matures  within one year from such date that is renewable or extendable, at the option of such Person, to a date  more than one year from such date or arises under a revolving credit or similar agreement that obligates  the lender or lenders to extend credit during a period of more than one year from such date, including  Indebtedness in respect of the Loans.    “GAAP” means generally accepted accounting principles in the United States, as in effect  from time to time; provided that (A) if the Borrower notifies the Administrative Agent that the Borrower  requests an amendment to any provision hereof to eliminate the effect of any change occurring after the  Closing Date in GAAP or in the application thereof on the operation of such provision (or if the  Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any  provision hereof for such purpose), regardless of whether any such notice is given before or after such  change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of  GAAP as in effect and applied immediately before such change shall have become effective until such  notice shall have been withdrawn or such provision amended in accordance herewith, (B) at any time  -34-  





 






#95982248v17   after the Closing Date, the Borrower may elect, upon notice to the Administrative Agent, to apply IFRS  accounting principles in lieu of GAAP and, upon any such election, references herein to GAAP shall  thereafter be construed to mean IFRS (except as otherwise provided herein), including as to the ability of  the Borrower or the Required Lenders to make an election pursuant to clause (A) of this proviso, (C) any  election made pursuant to clause (B) of this proviso, once made, shall be irrevocable, (D) any calculation  or determination in this Agreement that requires the application of GAAP for periods that include fiscal  quarters ended prior to the Borrower’s election to apply IFRS shall remain as previously calculated or  determined in accordance with GAAP and (E) the Borrower may only make an election pursuant to clause  (B) of this proviso if it also elects to report any subsequent financial reports required to be made by the  Borrower, including pursuant to Sections 6.01(a) and (b), in IFRS.    “GAAP Consolidated Members” means with respect to any Person, all other Persons  including its Subsidiaries that are required to be Consolidated with such Person in accordance with GAAP.  Unless otherwise specified herein, the GAAP Consolidated Members with respect to the Borrower shall  mean: (a) UM-U Parent and its Subsidiaries, (b) UM-R Parent and its Subsidiaries, and (c) SRS Leasing  Parent and its Subsidiaries.    “Golden Flake Acquisition” means the acquisition of Golden Enterprises, Inc., a  Delaware corporation directly or indirectly by the Borrower.    “Governmental Authority” means any nation or government, any state, provincial,  country, territorial or other political subdivision thereof, any agency, authority, instrumentality,  regulatory body, court, administrative tribunal, central bank or other entity exercising executive,  legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to  government (including any supra-national bodies such as the European Union or the European Central  Bank).    “Granting Lender” has the meaning specified in Section 10.07(h).    “Guarantee Obligations” means, as to any Person, without duplication, (a) any obligation,  contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any  Indebtedness or other monetary obligation payable or performable by another Person (the “primary  obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person,  direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such  Indebtedness or other monetary obligation, (ii) to purchase or lease property, securities or services for the  purpose of assuring the obligee in respect of such Indebtedness or other monetary obligation of the  payment or performance of such Indebtedness or other monetary obligation, (iii) to maintain working  capital, equity capital or any other financial statement condition or liquidity or level of income or cash  flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other  monetary obligation or (iv) entered into for the purpose of assuring in any other manner the obligee in  respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to  protect such obligee against loss in respect thereof (in whole or in part) or (b) any Lien on any assets of  such Person securing any Indebtedness or other monetary obligation of any other Person, whether or not  such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or  otherwise, of any holder of such Indebtedness to obtain any such Lien); provided that the term “Guarantee  Obligations” shall not include endorsements for collection or deposit, in either case in the ordinary course  of business, or customary and reasonable indemnity obligations in effect on the Closing Date or entered  into in connection with any acquisition or disposition of assets permitted under this Agreement (other  than such obligations with respect to Indebtedness). The amount of any Guarantee Obligation shall be  deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or  portion thereof, in respect of which such Guarantee Obligation is made or, if not stated or determinable,  -35-  #95982248v17   the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person  in good faith.    “Guarantees” has the meaning specified in the definition of “Collateral and Guarantee  Requirement.”    “Guarantors” has the meaning specified in the definition of “Collateral and Guarantee  Requirement.” For avoidance of doubt, the Borrower in its sole discretion may cause any Restricted  Subsidiary that is not a Guarantor to Guarantee the Obligations by causing such Restricted Subsidiary to  execute and deliver to the Administrative Agent a Guaranty Supplement (as defined in the Guaranty), and  any such Restricted Subsidiary shall thereafter be a Guarantor, Loan Party and Subsidiary Guarantor  hereunder for all purposes; provided that if such Restricted Subsidiary is not organized in the United  States, (i) the jurisdiction of organization of such Restricted Subsidiary shall be reasonably satisfactory to  the Collateral Agent if acting as Collateral Agent or entering into Loan Documents with Subsidiaries in  such jurisdiction is prohibited by applicable Law or would expose the Collateral Agent, in its capacity as  such, to material additional liabilities and (ii) such Restricted Subsidiary shall have complied with the  Collateral and Guarantee Requirement prior to the becoming a Guarantor.    “Guaranty” means, collectively, (a) the Guaranty substantially in the form of Exhibit F  and (b) each other guaranty and guaranty supplement delivered pursuant to Section 6.10.    “Hazardous Materials” means all hazardous, toxic, explosive or radioactive substances or  wastes, and all other chemicals, pollutants, contaminants, substances or wastes of any nature regulated  pursuant to any Law relating to the Environment because of their hazardous, toxic, dangerous or  deleterious characteristics or properties, including petroleum or petroleum distillates, asbestos or  asbestos-containing materials, polychlorinated biphenyls, radon gas and toxic mold.    “IFRS” means International Financial Reporting Standards as adopted in the European  Union.    “Immaterial Subsidiary” means, at any date of determination, each Restricted Subsidiary  that has been designated by the Borrower in writing to the Administrative Agent as an “Immaterial  Subsidiary” for purposes of this Agreement (and not redesignated as a Material Subsidiary as provided  below), provided that (a) for purposes of this Agreement, at no time shall (i) the total assets of all  Immaterial Subsidiaries at the last day of the most recent Test Period equal or exceed 5% of the total  assets of the Parents, the Borrower and the Restricted Subsidiaries at such date or (ii) the gross revenues  for such Test Period of all Immaterial Subsidiaries equal or exceed 5% of the consolidated gross revenues  of the Parents, the Borrower and the Restricted Subsidiaries for such period, in each case determined on a  consolidated basis in accordance with GAAP, (b) the Borrower shall not designate any new Immaterial  Subsidiary if such designation would not comply with the provisions set forth in clause (a) above, (c) if  the total assets or gross revenues of all Restricted Subsidiaries so designated by the Borrower as  “Immaterial Subsidiaries” (and not redesignated as “Material Subsidiaries”) shall at any time exceed the  limits set forth in clause (a) above, then all such Restricted Subsidiaries shall be deemed to be Material  Subsidiaries unless and until the Borrower shall redesignate one or more Immaterial Subsidiaries as  Material Subsidiaries, in each case in a written notice to the Administrative Agent, and, as a result  thereof, the total assets and gross revenues of all Restricted Subsidiaries still designated as “Immaterial  Subsidiaries” do not exceed such limits and (d) the Borrower shall not designate any Subsidiary as an  Immaterial Subsidiary if such Subsidiary owns Material Real Property[reserved]; provided, further, that  the Borrower may designate and re-designate a Restricted Subsidiary as an Immaterial Subsidiary at any  time, subject to the terms set forth in this definition.    -36-  





 






#95982248v17   “Incremental Facilities” has the meaning specified in Section 2.14(a).  “Incremental Facility Amendment” has the meaning specified in Section 2.14(d).  “Incremental Facility Closing Date” has the meaning specified in Section 2.14(e).  “Incremental Incurrence Test” has the meaning specified in Section 2.14(a).  “Incremental Term Loans” has the meaning specified in Section 2.14(a).  “Incurrence Based Amounts” has the meaning specified in Section 1.09(b).  “Indebtedness” means, as to any Person at a particular time, without duplication, all of  the following, whether or not included as indebtedness or liabilities in accordance with GAAP:    (a) all obligations of such Person for borrowed money and all obligations of such  Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;    (b) the maximum amount (after giving effect to any prior drawings or reductions  which may have been reimbursed) of all letters of credit (including standby and commercial),  banker’s acceptances, bank guaranties, surety bonds, performance bonds and similar instruments  issued or created by or for the account of such Person;    (c) net obligations of such Person under any Swap Contract;    (d) all obligations of such Person to pay the deferred purchase price of property or  services (other than (i) trade accounts payable in the ordinary course of business and (ii) any  earn-out obligation until such obligation becomes a liability on the balance sheet of such Person  in accordance with GAAP and if not paid within thirty (30) days after becoming due and  payable);    (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property  owned or being purchased by such Person (including indebtedness arising under conditional sales  or other title retention agreements and mortgage, industrial revenue bond, industrial development  bond and similar financings), whether or not such indebtedness shall have been assumed by such  Person or is limited in recourse;    (f) all Attributable Indebtedness;    (g) all obligations of such Person in respect of Disqualified Equity Interests; and    (h) all Guarantee Obligations of such Person in respect of any of the foregoing.    For all purposes hereof, the Indebtedness of any Person shall (A) include the  Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation,  company, or limited liability company) in which such Person is a general partner or a joint venturer,  except to the extent such Person’s liability for such Indebtedness is otherwise limited and only to the  extent such Indebtedness would be included in the calculation of Consolidated Total Debt and (B) in the  case of the Parents, the Borrower and the Restricted Subsidiaries, exclude all intercompany Indebtedness  having a term not exceeding 364 days (inclusive of any roll-over or extensions of terms) and made in the  ordinary course of business consistent with past practice. The amount of any net obligation under any    -37-  #95982248v17   Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date.  The amount of Indebtedness of any Person for purposes of clause (e) shall be deemed to be equal to the  lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the fair market value of the  property encumbered thereby as determined by such Person in good faith.    “Indemnified Liabilities” has the meaning specified in Section 10.05.    “Indemnified Taxes” means (a) all Taxes, other than Excluded Taxes, imposed on or in  respect of any payment made by or on account of any Loan Party under any Loan Document and (b) to  the extent not otherwise described in (a), Other Taxes.    “Indemnitees” has the meaning specified in Section 10.05.  “Information” has the meaning specified in Section 10.08.  “Initial Term Commitment” means, as to each Initial Term Lender, its obligation to make  an Initial Term Loan to the Borrower pursuant to Section 2.01 in an aggregate principal amount not to  exceed the amount set forth opposite such Lender’s name on each of Schedule 1 and Schedule 2 to the  Second Amendment under the caption “2021 Refinancing Term Commitment” or “2021 Incremental  Term Commitment”, respectively, or in the Assignment and Assumption pursuant to which such Initial  Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in  accordance with this Agreement. The initial aggregate amount of the Initial Term Commitments as of the  Second Amendment Effective Date is $720,000,000.    “Initial Term Lender” means, at any time, any Lender that has an Initial Term  Commitment or an Initial Term Loan at such time. For the avoidance of doubt, (i) from and after the  Second Amendment Effective Date, each 2021 New Term Lender shall constitute an Initial Term Lender  and (ii) from and after the Third Amendment Effective Date, each 2021-2 Incremental Term Lender shall  constitute an Initial Term Lender, in each case, for all purposes hereunder.    “Initial Term Loan” means a Loan made pursuant to Section 2.01. For the avoidance of  doubt, (i) from and after the Second Amendment Effective Date, 2021 New Term Loans shall constitute  Initial Term Loans and (ii) from and after the Third Amendment Effective Date, 2021-2 Incremental  Term Loans shall constitute Initial Term Loans, in each case, for all purposes hereunder.    “Inside Maturity Debt” means, with respect to any Incremental Term Loans, Permitted  Alternative Incremental Facilities Debt, Refinancing Term Loans, Indebtedness permitted pursuant to  Section 7.03(r), Indebtedness permitted pursuant to Section 7.03(w) and any Permitted Refinancing in  respect of the foregoing, an aggregate principal amount not to exceed the greater of (x) $202  million212,500,000 and (y) 100% of Consolidated EBITDA as of the most recently ended Test Period at  any time outstanding.    “Interest Charges” means, with respect to any Person for any period, the sum of (a)  Consolidated Interest Expense of such Person for such period; plus (b) all cash dividend payments  (excluding items eliminated in consolidation) on any series of Disqualified Equity Interests of such  Person or any Restricted Subsidiary of such Person made during such period.    “Interest Payment Date” means (a) as to any Loan other than a Base Rate Loan, the last  day of each Interest Period applicable to such Loan and the Maturity Date of the Facility under which  such Loan was made; provided that if any Interest Period for a Eurocurrency RateTerm SOFR Loan  exceeds three months, the respective dates that fall every three months after the beginning of such Interest  -38-  





 






#95982248v17   Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan, the last Business Day of  each March, June, September and December and the Maturity Date of the Facility under which such Loan  was made.    “Interest Period” means, as to each Eurocurrency RateTerm SOFR Loan, the period  commencing on the date such Loan is disbursed or converted to or continued as a Eurocurrency RateTerm  SOFR Loan and ending on the date one, two, three or six months thereafter, or to the extent agreed to by  each Lender of such Eurocurrency Rate Loan and the Administrative Agent, twelve months or any other  period thereafter as selected by the Borrower in its Committed Loan Notice; provided that:    (a) any Interest Period that would otherwise end on a day that is not a Business Day  shall be extended to the next succeeding Business Day unless such Business Day falls in another  calendar month, in which case such Interest Period shall end on the next preceding Business Day;    (b) any Interest Period that begins on the last Business Day of a calendar month (or  on a day for which there is no numerically corresponding day in the calendar month at the end of  such Interest Period) shall end on the last Business Day of the calendar month at the end of such  Interest Period; and    (c) no Interest Period shall extend beyond the Maturity Date of the Facility under  which such Loan was made.    Notwithstanding the foregoing, the Borrower may select an initial Interest Period for the  Initial Term Loans ending on the date that is no more than three (3) months after the Closing Date that is,  subject to clause (a) of the definition of “Interest Period,” the next succeeding December 31, March 31,  June 30 or September 30 following the Closing Date.    “Intermediate Holding Company” means any Wholly Owned Subsidiary of a Parent that  directly or indirectly through another Intermediate Holding Company, owns 100% of the issued and  outstanding Equity Interests of the Borrower.    “Investment” means, as to any Person, any direct or indirect acquisition or investment by  such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other  securities of another Person, (b) a loan, advance or capital contribution to, Guarantee Obligation with  respect to any obligation of, or purchase or other acquisition of any other debt or equity participation or  interest in, another Person, including any partnership or joint venture interest in such other Person  (excluding, in the case of the Parents, the Borrower and the Restricted Subsidiaries, intercompany loans,  advances, or Indebtedness having a term not exceeding 364 days (inclusive of any roll-over or extensions  of terms) and made in the ordinary course of business consistent with past practice) or (c) the purchase or  other acquisition (in one transaction or a series of transactions) of all or substantially all of the property  and assets or business of another Person or assets constituting a business unit, line of business or division  of such Person. For purposes of covenant compliance, the amount of any Investment shall be the amount  actually invested, without adjustment for subsequent increases or decreases in the value of such  Investment.    “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the  equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by Fitch, Inc.    “IP Rights” has the meaning specified in Section 5.14.      -39-  #95982248v17   “ISDA Definitions” means the 2006 ISDA Definitions published by the International  Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented  from time to time, or any successor definitional booklet for interest rate derivatives published from  time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.    “Judgment Currency” has the meaning specified in Section 10.17.    “Junior Debt” means Indebtedness incurred by a Loan Party that is (x) in excess of the  Threshold Amount and subordinated in right of payment to the prior payment of all Obligations of such  Loan Party under the Loan Documents or (y) in excess of the Threshold Amount and junior in priority to  the Liens securing the Obligations.    “Junior Debt Documents” means any agreement, indenture or instrument pursuant to  which any Junior Debt is issued, in each case as amended to the extent permitted under the Loan  Documents.    “JV Entity” means any joint venture of any Parent, the Borrower or any Restricted  Subsidiary that is not a Subsidiary.    “Latest Maturity Date” means, at any date of determination, the latest Maturity Date  applicable to any Loan or Term Commitment hereunder at such time, including the latest maturity date of  any Extended Term Loan or Incremental Term Loan, in each case as extended in accordance with this  Agreement from time to time.    “Laws” means, collectively, all international, foreign, federal, state, provincial and local  laws (including common laws), statutes, treaties, rules, guidelines, regulations, ordinances, codes and  administrative or judicial precedents or authorities, including the interpretation or administration thereof  by any Governmental Authority charged with the enforcement, interpretation or administration thereof,  and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of,  and agreements with, any Governmental Authority.    “LCA Election” has the meaning specified in Section 1.09(a).  “LCA Test Date” has the meaning specified in Section 1.09(a).  “Lead Arrangers” means (i) as of the Closing Date, Bank of America, N.A. (or any other  registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all  of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending  services or related businesses may be transferred), Goldman Sachs Bank USA, Manufacturers and Traders  Trust Company and PNC Capital Markets LLC, in their capacities as Joint Lead Arrangers and Joint  Bookrunners under this Agreement (ii) as of the Second Amendment Effective Date, BofA Securities,  Inc., Goldman Sachs Bank USA and Credit Suisse Loan Funding LLC, in their capacities as Joint Lead  Arrangers and Joint Bookrunners under Amendment No. 2 and (iii) as of the Third Amendment Effective  Date, BofA Securities, Inc. and Goldman Sachs Bank USA, in their capacities as Joint Lead Arrangers  and Joint Bookrunners under Amendment No. 3.    “Lender” has the meaning specified in the introductory paragraph to this Agreement, any  2021 New Term Lender, any 2021-2 Incremental Term Lender and their respective successors and  assigns as permitted hereunder, each of which is referred to herein as a “Lender”.      -40-  





 






#95982248v17   “Lender Participation Notice” has the meaning specified in Section 2.05(d)(iii).  “LIBOR” has the meaning specified in the definition of Eurocurrency Rate.  “LIBOR Replacement Date” has the meaning specified in Section 1.10(a).    “LIBOR Screen Rate” means the LIBOR quote on the applicable screen page the  Administrative Agent designates to determine LIBOR (or such other commercially available source  providing such quotations as may be designated by the Administrative Agent from time to time).    “LIBOR Successor Rate” has the meaning specified in Section 1.10(a).    “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed  LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing  and frequency of determining rates and making payments of interest and other technical, administrative or  operational matters (including, for the avoidance of doubt, the definition of Business Day, timing of  borrowing requests or prepayment, conversion or continuation notices and length of lookback periods) as  may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and  implementation of such LIBOR Successor Rate and to permit the administration thereof by the  Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative  Agent determines that adoption of any portion of such market practice is not administratively feasible or  that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner  of administration as the Administrative Agent determines is reasonably necessary in connection with the  administration of this Agreement and any other Loan Document).    “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,  encumbrance, lien (statutory or other), charge, assignment (by way of security or otherwise), deemed  trust, or preference, priority or other security interest or preferential arrangement of any kind or nature  whatsoever (including any conditional sale or other title retention agreement, any easement, right of way  or other encumbrance on title to real property, and any Capitalized Lease having substantially the same  economic effect as any of the foregoing).    “Limited Condition Transaction” means (x) any Permitted Acquisition or other similar  investment, including by way of merger, by any Parent, the Borrower or one or more of the Restricted  Subsidiaries permitted pursuant to this Agreement whose consummation is not conditioned upon the  availability of, or on obtaining, third party financing and (y) any redemption, repurchase, defeasance,  satisfaction and discharge or repayment of indebtedness requiring irrevocable notice in advance of such  redemption, repurchase, satisfaction and discharge or repayment.    “Loan” means an extension of credit by a Lender to a Borrower under Article II in the  form of a Term Loan (including any Incremental Term Loans, any Extended Term Loans).    “Loan Documents” means, collectively, (i) this Agreement, (ii) the Term Notes, (iii) the  Term Intercreditor Agreement, (iv) the ABL Intercreditor Agreement, (v) each Guaranty and (vi) the  Collateral Documents, in each case as amended in accordance with this Agreement.    “Loan Parties” means, collectively, (i) the Borrower, (ii) each Parent and (iii) each other  Guarantor.    “M&T” has the meaning specified in the preliminary statements to this Agreement.    -41-  #95982248v17   “Market Capitalization” means an amount equal to (i) the total number of issued and  outstanding shares of common stock or common equity interests of the Borrower or its direct or indirect  parent on the date of the declaration of a Restricted Payment multiplied by (ii) the arithmetic mean of the  closing prices per share of such common stock or common equity interests on the principal securities  exchange on which such common stock or common equity interests are traded for the thirty (30)  consecutive trading days immediately preceding the date of declaration of such Restricted Payment.  “Master Agreement” has the meaning specified in the definition of “Swap Contract.”  “Material Adverse Effect” means (a) a material adverse effect on the business, operations,  assets, liabilities (actual or contingent) or financial condition of the Parents, the Borrower and the  Restricted Subsidiaries, taken as a whole, (b) a material adverse effect on the ability of the Loan Parties  (taken as a whole) to perform their respective payment obligations under any Loan Document to which  any of the Loan Parties is a party or (c) a material adverse effect on the rights and remedies of the Lenders  or the Agents under any Loan Document.    “Material Real Property” means (a) any real property owned by a Loan Party on the  Closing Date having a fair market value in excess of $15,000,000, each of which is set forth on Schedule  1.01E and (b) any owned real property acquired by any Loan Party following the Closing Date (or owned  by any Person that becomes a Loan Party after the Closing Date) located in the United States with a fair  market value in excess of $15,000,000.    “Material Subsidiary” means, at any date of determination, each Restricted Subsidiary  that is not an Immaterial Subsidiary (but including, in any case, any Restricted Subsidiary that has been  designated as a Material Subsidiary as provided in, or that has been designated as an Immaterial  Subsidiary in a manner that does not comply with, the definition of “Immaterial Subsidiary”).    “Maturity Date” means (a) with respect to the 2021 New Term Loans and the 2021-2  Incremental Term Loans, the seventh anniversary of the Second Amendment Effective Date, (b) with  respect to any Extended Term Loan, the maturity date applicable to such Extended Term Loan in  accordance with the terms hereof or (c) with respect to any Incremental Term Loan, the maturity date  applicable to such Incremental Term Loan in accordance with the terms hereof; provided that if any such  day is not a Business Day, the Maturity Date shall be the Business Day immediately preceding such day.    “Maximum Tender Condition” has the meaning specified in Section 2.17(b).  “MFN Adjustment” has the meaning specified in Section 2.14(b).  “Minimum Extension Condition” has the meaning specified in Section 2.15(b).  “Minimum Tender Condition” has the meaning specified in Section 2.17(b).  “Minimum Tranche Amount” has the meaning specified in Section 2.15(b).  “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.  “Multiemployer Plan” means any employee benefit plan of the type described in Section  4001(a)(3) of ERISA, to which any Loan Party or any ERISA Affiliate makes or is obligated to make  contributions, or during the immediately preceding six (6) years, has made or been obligated to make  contributions.    -42-  





 






#95982248v17   “Net Cash Proceeds” means:    (a) with respect to the Disposition of any asset by any Parent, the Borrower or any  Restricted Subsidiary or any Casualty Event, an amount equal to the excess, if any, of (i) the sum  of cash and Cash Equivalents received in connection with such Disposition or Casualty Event  (including any cash or Cash Equivalents received by way of deferred payment pursuant to, or by  monetization of, a note receivable or otherwise, but only as and when so received and, with  respect to any Casualty Event, any insurance proceeds or condemnation awards in respect of such  Casualty Event actually received by or paid to or for the account of any Parent, the Borrower or  any Restricted Subsidiary) over (ii) the sum of (A) the principal amount, premium or penalty, if  any, interest and other amounts on any Indebtedness that is secured by the asset subject to such  Disposition or Casualty Event and that is required to be repaid (and is timely repaid) in  connection with such Disposition or Casualty Event (other than Indebtedness under the Loan  Documents and Indebtedness that is secured by Liens ranking junior to or pari passu with the  Liens securing Obligations under the Loan Documents), (B) the out-of-pocket fees and expenses  (including attorneys’ fees, investment banking fees, survey costs, title insurance premiums, and  related search and recording charges, transfer taxes, deed or mortgage recording taxes, other  customary expenses and brokerage, consultant and other customary fees) actually incurred by  such Parent, the Borrower or such Restricted Subsidiary in connection with such Disposition or  Casualty Event, (C) Taxes paid or reasonably estimated to be actually payable in connection  therewith (including, for the avoidance of doubt, any income, withholding and other Taxes  payable as a result of the distribution of such proceeds to the Borrower), and (D) any reserve for  adjustment in respect of (x) the sale price of such asset or assets or purchase price adjustment  established in accordance with GAAP and (y) any liabilities associated with such asset or assets  and retained by any Parent, the Borrower or any Restricted Subsidiary after such sale or other  disposition thereof, including pension and other post-employment benefit liabilities and liabilities  related to environmental matters or with respect to any indemnification obligations associated  with such transaction, it being understood that “Net Cash Proceeds” shall include (i) any cash or  Cash Equivalents received upon the Disposition of any non-cash consideration by any Parent, the  Borrower or any Restricted Subsidiary in any such Disposition and (ii) upon the reversal (without  the satisfaction of any applicable liabilities in cash in a corresponding amount) of any reserve  described in clause (D) above or if such liabilities have not been satisfied in cash and such reserve  is not reversed within 365 days after such Disposition or Casualty Event, the amount of such  reserve; and    (b) (i) with respect to the incurrence or issuance of any Indebtedness by any Parent,  the Borrower or any Restricted Subsidiary, the excess, if any, of (x) the sum of the cash received  in connection with such incurrence or issuance over (y) the investment banking fees,  underwriting discounts, commissions, Taxes, costs and other out-of-pocket expenses and other  customary expenses incurred by such Parent, the Borrower or such Restricted Subsidiary in  connection with such incurrence or issuance and (ii) with respect to any Permitted Equity  Issuance by any direct or indirect parent of any Parent, the amount of cash from such Permitted  Equity Issuance contributed to the capital of such Parent.    “Non-Consenting Lender” has the meaning specified in Section 3.06(d).    “Non-Extending Lender” means any Lender that elects not to participate in an Extension  pursuant to Section 2.15(c).    “Non-Loan Party” means any Restricted Subsidiary that is not a Loan Party.    -43-  #95982248v17   “Obligations” means all advances to, and debts, liabilities, obligations, covenants and  duties of, any Loan Party or other Subsidiary arising under any Loan Document or otherwise with respect  to any Loan, whether direct or indirect (including those acquired by assumption), absolute or contingent,  due or to become due, now existing or hereafter arising and including interest and fees that accrue after  the commencement by or against any Loan Party or any other Subsidiary of any proceeding under any  Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such  interest and fees are allowed claims in such proceeding. Without limiting the generality of the foregoing,  the Obligations of the Loan Parties under the Loan Documents (and of any of their Subsidiaries to the  extent they have obligations under the Loan Documents) include (a) the obligation (including guarantee  obligations) to pay principal, interest, reimbursement obligations, charges, expenses, fees, Attorney Costs,  indemnities and other amounts, in each case, payable by any Loan Party or any other Subsidiary under  any Loan Document and (b) the obligation of any Loan Party or any other Subsidiary to reimburse any  amount in respect of any of the foregoing that any Lender, in its sole discretion, may elect to pay or  advance on behalf of such Loan Party or such Subsidiary.    “Offered Loans” has the meaning specified in Section 2.05(d)(iii).    “Organization Documents” means (a) with respect to any corporation or company, the  certificate or articles of incorporation, the memorandum and articles of association, any certificates of  change of name and/or the bylaws; (b) with respect to any limited liability company, the certificate or  articles of formation or organization and operating agreement; and (c) with respect to any partnership,  joint venture, trust or other form of business entity, the partnership, joint venture or other applicable  agreement of formation or organization and any agreement, declaration, instrument, filing or notice with  respect thereto filed in connection with its formation or organization with the applicable Governmental  Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles  of formation or organization of such entity.    “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a  result of a present or former connection between such Recipient and the jurisdiction imposing such Tax  (other than connections arising from such Recipient having executed, delivered, become a party to,  performed its obligations under, received payments under, received or perfected a security interest under,  engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an  interest in any Loan or Loan Document).    “Other Taxes” means all present or future stamp, court or documentary Taxes and any  other property, intangible, mortgage recording or similar Taxes which arise from any payment made  under any Loan Document or from the execution, delivery, performance, enforcement or registration of,  or otherwise with respect to, any Loan Document, excluding, in each case, any such Tax resulting from an  Assignment and Assumption or transfer or assignment to or designation of a new Applicable Lending  Office or other office for receiving payments under any Loan Document (an “Assignment Tax”) but only  if (a) such Assignment Tax is imposed as a result of a present or former connection of the assignor or  assignee with the jurisdiction imposing such Assignment Tax (other than any connection arising solely  from any Loan Documents or any transactions contemplated thereby) and (b) such Assignment Tax does  not arise as a result of an assignment (or designation of a new Applicable Lending Office) pursuant to a  request by Borrower under Section 3.06.    “Outstanding Amount” means with respect to the Term Loans, the amount of the  aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or  repayments of Term Loans.      -44-  





 






#95982248v17   “Parents” has the meaning specified in the introductory paragraph to this Agreement.  “Participant” has the meaning specified in Section 10.07(e).  “Participant Register” has the meaning specified in Section 10.07(e).  “PBGC” means the Pension Benefit Guaranty Corporation.  “Pension Plan” means any “employee pension benefit plan” (as such term is defined in  Section 3(2) of ERISA) other than a Multiemployer Plan, that is subject to Title IV of ERISA and is  sponsored or maintained by any Loan Party or any ERISA Affiliate or to which any Loan Party or any  ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or  other plan described in Section 4064(a) of ERISA, has made contributions at any time during the  immediately preceding six (6) years.    “Permitted Acquisition” has the meaning specified in Section 7.02(j).    “Permitted Alternative Incremental Facilities Debt” has the meaning specified in Section  7.03(t).    “Permitted Debt Exchange” has the meaning specified in Section 2.17(a).  “Permitted Debt Exchange Notes” has the meaning specified in Section 2.17(a).  “Permitted Debt Exchange Offer” has the meaning specified in Section 2.17(a).  “Permitted Distribution Business Disposition” the transfer of any trucks, together with  related contracts and related assets of the direct store delivery network of the Borrower and other Loan  Parties, together with any liabilities and obligations relating thereto; provided that (a) the book value of  the assets so transferred shall not constitute, in the aggregate, greater than 15% of the book value of the  assets of the Parents, the Borrower and the Restricted Subsidiaries on a Consolidated basis as of the  Second Amendment Effective Date and (b) the business remaining with the Loan Parties shall not be  negatively impacted in any material respect by the transfer and satisfactory arrangements for replacement  distribution of all inventory of the Parents, the Borrower and the Restricted Subsidiaries shall be in place  at the time of the Permitted Distribution Business Disposition.    “Permitted Equity Issuance” means any sale or issuance of any Qualified Equity Interests  other than a sale or issuance the proceeds of which are designated as Excluded Contribution Amounts.    “Permitted Holders” means any of (a) any lineal descendent of William and Salie Utz, (b)  any lineal descendent of Francis Xavier Rice and Arlene Utz Rice, (c) any Permitted Transferee of any of  the foregoing, (d) any trust for the benefit of the foregoing (including, Michael W. Rice General Trust,  Michael W. Rice 2010 GRAT, Rice Family 2011 GRAT, Rice Family 2015 GRAT, Exempt Family under  the Michael W. Rice 2009 Family Trust, Non-Exempt Family Trust under the Michael W. Rice 2009  Family Trust, Jane E. Rice 2012 Special Trust, Non-Exempt Family Trust under the Michael W. Rice  2009 Family Trust, Stacie R. Lissette 2012 Generations Trust, Dylan Lissette 2012 Generations Trust,  Stacie R. Lissette Primary Trust under the Rice 1998 GRAT 3, Michael W. Rice 2010 Multigenerational  Trust and Michael W. Rice 2015 QTIP Trust), (e) any estate of any of the foregoing, (f) the personal  representatives of any Person specified in clauses (a), (b) or (c) upon such Person’s death for the purposes  of administration of such Person’s estate or upon such Person’s adjudicated incapacity for purposes of the    -45-  #95982248v17   protection and management of the assets of such Person and (g) Utz Brands, Inc., its controlled Affiliates  and any successor thereto.    “Permitted Liens” means any Liens permitted by Section 7.01.    “Permitted Non-Recourse Factoring” means one or more non-recourse (except for  customary representations, warranties, covenants and indemnities made in connection with such  non-recourse facilities) receivables purchase facilities made available to any Parent, the Borrower or any  of the Restricted Subsidiaries on then-market terms (as reasonably determined by the Borrower) in an  aggregate principal amount for all such facilities not exceeding $20,000,000 at any time outstanding.    “Permitted Receivables Financing” means a Permitted Non-Recourse Factoring or a  Permitted Recourse Receivables Financing.    “Permitted Recourse Receivables Financing” means one or more receivables purchase  facilities made available to any Parent, the Borrower or any of the Restricted Subsidiaries on then-market  terms (as reasonably determined by the Borrower) in an aggregate principal amount for all such facilities  not exceeding $20,000,000 at any time outstanding.    “Permitted Refinancing” means, with respect to any Person, any modification (other than  a release of such Person), refinancing, refunding, renewal or extension of any Indebtedness of such  Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed  the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced,  refunded, renewed or extended except by an amount equal to unpaid accrued interest and premium  thereon, plus amounts that would otherwise be permitted under Section 7.03 (with such amounts being  deemed utilization of the applicable basket or exception under Section 7.03), plus other reasonable  amounts paid, and fees and expenses reasonably incurred, in connection with such modification,  refinancing, refunding, renewal or extension and by an amount equal to any existing commitments  unutilized thereunder, and as otherwise permitted under Section 7.03, (b) other than with respect to a  Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(f), such  modification, refinancing, refunding, renewal or extension has a final maturity date equal to or later than  the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the  Weighted Average Life to Maturity of, the Indebtedness being modified, refinanced, refunded, renewed  or extended (provided that the foregoing requirements of this clause (b) shall not apply to any Inside  Maturity Debt), (c) to the extent such Indebtedness being so modified, refinanced, refunded, renewed or  extended is secured by a Lien on the Collateral, the Lien securing such Indebtedness as modified,  refinanced, refunded, renewed or extended shall not be senior in priority to the Lien on the Collateral  securing the Indebtedness being modified, refinanced, refunded, renewed or extended unless otherwise  permitted under this Agreement and (d) if such Indebtedness being modified, refinanced, refunded,  renewed or extended is Indebtedness permitted pursuant to Section 7.03(c), (i) to the extent such  Indebtedness being so modified, refinanced, refunded, renewed or extended is subordinated in right of  payment to the Obligations, such modification, refinancing, refunding, renewal or extension is  subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those  contained in the documentation governing the Indebtedness being so modified, refinanced, refunded,  renewed or extended, (ii) the terms and conditions (including, if applicable, as to collateral but excluding  as to subordination, interest rate and redemption premium) of any such modified, refinanced, refunded,  renewed or extended Indebtedness, taken as a whole, are not materially less favorable to the Loan Parties  or the Lenders than the terms and conditions of the Indebtedness being modified, refinanced, refunded,  renewed or extended (other than in the case of terms applying to periods after the then Latest Maturity  Date or otherwise added for the benefit of the Lenders hereunder); provided that a certificate of a  Responsible Officer of the Borrower delivered to the Administrative Agent at least five (5) Business Days  -46-  





 






#95982248v17   prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the  material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating  that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing  requirement, shall be conclusive evidence that such terms and conditions satisfy the foregoing  requirement unless the Administrative Agent notifies the Borrower within such five (5) Business Day  period that it disagrees with such determination (including a reasonable description of the basis upon  which it disagrees) and (iii) such modification, refinancing, refunding, renewal or extension is incurred by  a Person who is the obligor of the Indebtedness being so modified, refinanced, refunded, renewed or  extended or a Loan Party.    “Permitted Sale Leaseback” means any Sale Leaseback consummated by any Parent, the  Borrower or any of the Restricted Subsidiaries after the Closing Date; provided that any such Sale  Leaseback that is not between (a) a Loan Party and another Loan Party or (b) a Restricted Subsidiary that  is not a Loan Party and another Restricted Subsidiary that is not a Loan Party must be, in each case,  consummated for fair value as determined at the time of consummation in good faith by (i) such Parent,  the Borrower or such Restricted Subsidiary and (ii) in the case of any Sale Leaseback (or series of related  Sales Leasebacks) the aggregate proceeds of which exceed $40,000,000, the board of managers or  directors, as applicable, of such Parent, the Borrower or such Restricted Subsidiary (which such  determination may take into account any retained interest or other Investment of such Parent, the  Borrower or such Restricted Subsidiary in connection with, and any other material economic terms of,  such Sale Leaseback).    “Permitted Tax Distribution” means:    (a) if and for so long as any Parent is a member of a group filing a consolidated,  combined or unitary tax return with any parent entity, any dividends or other distributions to fund  any income Taxes attributable to the income of the applicable Parent, the Borrower and the  Subsidiaries, in each case, for which such parent entity is liable up to an amount not to exceed  with respect to such Taxes the amount of any such Taxes that the applicable Parent, the Borrower  and the applicable Subsidiaries would have been required to pay on a separate company basis or  on a separate consolidated group basis if the applicable Parent, the Borrower and such  Subsidiaries had paid such Tax on a consolidated, combined, group, affiliated or unitary basis on  behalf of an affiliated group consisting only of the applicable Parent, the Borrower and such  Subsidiaries; provided that any such payment attributable to an Unrestricted Subsidiary shall be  limited to the amount of any cash paid by such Unrestricted Subsidiary for such purpose to any  Parent, the Borrower or any Restricted Subsidiary; and    (b) (i) if and for so long as Parent is treated as a partnership for U.S. federal, state,  provincial, territorial, and/or local income Tax purposes, any dividends or other distributions  required or permitted by Section 6.2 of the Third Amended and Restated Limited Liability  Company Agreement of Utz Brands Holdings, LLC, dated as of the Closing Date (as defined in  the Business Combination Agreement) (as amended, restated, amended and restated,  supplemented or otherwise modified from time to time, the “Parent LLCA”) and (ii) if there is a  successor to Parent (whether by way of merger, consolidation, conversion, acquisition of  substantially all of such Parent’s assets or otherwise) or if Parent becomes an entity disregarded  as separate from a new parent entity, and such successor or parent has entered into an operating  agreement substantially similar to the Parent LLCA, if and for so long as such successor or parent  is treated as a partnership for U.S. federal, state, provincial, territorial, and/or local income Tax  purposes, any dividends or other distributions required or permitted to be made by such successor  or parent (or dividends or other distributions to such parent in amounts sufficient for such parent  to pay dividends or make other distributions required or permitted) by the provision in such  -47-  #95982248v17   successor’s or such parent’s operating agreement that is analogous to Section 6.2 of the Parent  LLCA, as applicable; provided, that such amounts described in this clause (b) shall not be in  excess of the amounts required or permitted by Section 6.2 of the form of the Parent LLCA  attached as Exhibit C to the Business Combination Agreement as in effect on the First  Amendment Effective Date; and    (c) for any taxable year (or portion thereof) ending after the Closing Date for which  Parent is treated as a disregarded entity for U.S. federal, state, provincial, territorial, and/or local  income Tax purposes (other than as described in clause (b)(ii) above), the payment of dividends  or other distributions to Parent’s direct owner(s) to fund the income Tax liability of such owner(s)  (or, if a direct owner is a pass-through entity, of the indirect owner(s)) for such taxable year (or  portion thereof) attributable to the operations and activities of Parent and its direct and indirect  Subsidiaries, in an aggregate amount not the exceed the product of (1) the highest combined  marginal U.S. federal and applicable state, provincial, territorial, and/or local statutory Tax rate  (after taking into account the deductibility of U.S. state and local income Tax for U.S. federal  income Tax purposes) applicable to the direct or indirect parent of Parent for the taxable year (or  portion thereof) in question as reasonably determined by the Borrower using information  available to it, and (2) the taxable income of Parent and its direct and indirect Subsidiaries for  such taxable year (or portion thereof); provided that any such payment attributable to an  Unrestricted Subsidiary shall be limited to the amount of any cash paid by such Unrestricted  Subsidiary for such purpose to Parent, the Borrower or its Restricted Subsidiaries.    “Permitted Tax Restructuring” means any reorganizations and other activities related to  tax planning and tax reorganization (as determined by the Borrower in good faith) entered into on or after  the Closing Date so long as such Permitted Tax Restructuring does not materially impair the Guarantees  or the security interests of the Lenders in the aggregate and is otherwise not materially adverse to the  Lenders and after giving effect to such Permitted Tax Restructuring, the Parents, the Borrower and the  Restricted Subsidiaries otherwise comply with Section 6.10.    “Permitted Transferee” means, with respect to any Person that is a natural person (and any  Permitted Transferee of such Person), (x) such Person’s immediate family, including his or her spouse,  ex-spouse, children, stepchildren and their respective lineal descendants and (y) any trust or other legal entity  (including, through the conversion of any limited liability company into a series limited liability company)  the indirect or direct beneficiary of which is such Person’s immediate family, including his or her spouse,  ex-spouse, children, stepchildren or their respective lineal descendants and which is controlled by such  Person.    “Person” means any natural person, corporation, limited liability company, trust, joint  venture, association, company, partnership, Governmental Authority or other entity.    “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of  ERISA) other than a Foreign Plan, established or maintained by any Loan Party or, with respect to any  such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.    “Plan Assets” means “plan assets” within the meaning of U.S. Department of Labor  Regulation 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA.    “Platform” has the meaning specified in Section 6.02.    “Post-Acquisition Period” means, with respect to any Permitted Acquisition or the  conversion of any Unrestricted Subsidiary into a Restricted Subsidiary, the period beginning on the date  -48-  





 






#95982248v17   such Permitted Acquisition or conversion is consummated and ending on the last day of the fourth full  consecutive fiscal quarter immediately following the date on which such Permitted Acquisition or  conversion is consummated.    “Pre-Adjustment Successor Rate” has the meaning specified in Section 1.10(a).    “Pro Forma Adjustment” means, for any Test Period that includes all or any part of a  fiscal quarter included in any Post-Acquisition Period, with respect to the Acquired EBITDA of the  applicable Acquired Entity or Business or Converted Restricted Subsidiary or the Consolidated EBITDA  of the Parents, the Borrower and the Restricted Subsidiaries, (a) the pro forma increase or decrease in  such Acquired EBITDA or such Consolidated EBITDA, as the case may be, that is factually supportable  and is expected to have a continuing impact, in each case as determined on a basis consistent with Article  11 of Regulation S-X of the Securities Act, as interpreted by the Securities and Exchange Commission  and (b) additional good faith pro forma adjustments arising out of cost savings initiatives attributable to  such transaction and additional costs associated with the combination of the operations of such Acquired  Entity or Business or Converted Restricted Subsidiary with the operations of the Parents, the Borrower  and the Restricted Subsidiaries, in each case being given pro forma effect, that (i) have been realized or  (ii) subject to the limitations set forth in clause (a)(viii) of the definition of Consolidated EBITDA, will be  implemented following such transaction and are supportable and quantifiable and expected to be realized  within the succeeding eighteen (18) months and, in each case, including, but not limited to, (w) reduction  of costs related to administrative, selling or production-related activities, (x) incremental earnings from  selling or production-related activities, (y) reductions of costs related to leased or owned properties and  (z) reductions from the consolidation of operations and streamlining of corporate overhead taking into  account, for purposes of determining such compliance, the historical financial statements of the Acquired  Entity or Business or Converted Restricted Subsidiary and the Consolidated financial statements of the  Parents, the Borrower and the other Subsidiaries, assuming such Permitted Acquisition or conversion, and  all other Permitted Acquisitions or conversions that have been consummated during the period, and any  Indebtedness or other liabilities repaid in connection therewith had been consummated and incurred or  repaid at the beginning of such period (and assuming that such Indebtedness to be incurred bears interest  during any portion of the applicable measurement period prior to the relevant acquisition at the interest  rate which is or would be in effect with respect to such Indebtedness as at the relevant date of  determination); provided that, so long as such actions are initiated during such Post-Acquisition Period or  such costs are incurred during such Post-Acquisition Period, as applicable, for purposes of projecting  such pro forma increase or decrease to such Acquired EBITDA or such Consolidated EBITDA, as the  case may be, it may be assumed that such cost savings will be realizable during the entirety of such Test  Period, or such additional costs, as applicable, will be incurred during the entirety of such Test Period.    “Pro Forma Balance Sheets” has the meaning specified in Section 5.05(a)(ii).    “Pro Forma Basis” and “Pro Forma Effect” mean, with respect to compliance with any  test hereunder for an applicable period of measurement, that (A) to the extent applicable, the Pro Forma  Adjustment shall have been made and (B) all Specified Transactions and the following transactions in  connection therewith shall be deemed to have occurred as of the first day of the applicable period of  measurement (as of the last date in the case of a balance sheet item) in such test: (a) income statement  items (whether positive or negative) attributable to the property or Person subject to such Specified  Transaction, (i) in the case of a Disposition of all or substantially all Equity Interests in any Restricted  Subsidiary or any division, product line, or facility used for operations of any Parent, the Borrower or any  of the Restricted Subsidiaries, shall be excluded, and (ii) in the case of a Permitted Acquisition or  Investment described in the definition of “Specified Transaction,” shall be included, (b) any retirement of  Indebtedness, and (c) any Indebtedness incurred or assumed by any Parent, the Borrower or any of the  Restricted Subsidiaries in connection therewith and if such Indebtedness has a floating or formula rate,  -49-  #95982248v17   shall have an implied rate of interest for the applicable period for purposes of this definition determined  by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant  date of determination; provided that, without limiting the application of the Pro Forma Adjustment  pursuant to clause (A) above, the foregoing pro forma adjustments may be applied to any such test solely  to the extent that such adjustments are consistent with the definition of Consolidated EBITDA and give  effect to events (including operating expense reductions) that are (as determined by the Borrower in good  faith) (i) (x) directly attributable to such transaction, (y) expected to have a continuing impact on the  Parents, the Borrower and the Restricted Subsidiaries and (z) factually supportable or (ii) otherwise  consistent with the definition of Pro Forma Adjustment.    “Proposed Discounted Prepayment Amount” has the meaning specified in Section  2.05(d)(ii).    “PTE” means a prohibited transaction class exemption issued by the U.S. Department of  Labor, as any such exemption may be amended from time to time.    “Public Company Costs” has the meaning assigned to such term in the definition of the  term “Consolidated EBITDA”.    “Public Lender” has the meaning specified in Section 6.02.    “QFC Credit Support” has the meaning specified in Section 10.27.    “Qualified Equity Interests” means any Equity Interests of any Parent (or of the Borrower  or any Intermediate Holding Company or any direct or indirect parent of any Parent), in each case, that  are not Disqualified Equity Interests.    “Qualifying Bridge Facility” means customary bridge loans, so long as any loans, notes,  securities or other Indebtedness for which such bridge loans are exchanged, replaced or converted satisfy  (or will satisfy at the time of such exchange, replacement or conversion) any otherwise applicable  requirements.    “Qualifying IPO” means any transaction or series of transactions that results in any of the  common Equity Interests of the Borrower or any direct or indirect parent company of the Borrower being  publicly traded on any United States national securities exchange or over-the-counter market or any  analogous exchange or any recognized securities exchange in Canada, the United Kingdom or any  country of the European Union.    “Qualifying Lenders” has the meaning specified in Section 2.05(d)(iv).  “Qualifying Loans” has the meaning specified in Section 2.05(d)(iv).  “Qualifying Term Loans” has the meaning specified in Section 2.14(b).  “Quotation Date” means, in respect of the determination of the Eurocurrency Rate for any  Interest Period for a Eurocurrency Rate Loan, the day that is two Business Days prior to the first day of  such Interest Period.    “Recipient” means the Administrative Agent, any Lender or any other recipient of any  payment to be made by or on account of any obligation of any Loan Party hereunder.    -50-  





 






#95982248v17   “Refinancing” means the repayment in full, termination of all commitments and release  of all liens under the Existing Credit Agreement.    “Refinancing Term Loans” means Incremental Term Loans that are designated by a  Responsible Officer of the Borrower as “Refinancing Term Loans” in a certificate of a Responsible  Officer of the Borrower delivered to the Administrative Agent on or prior to the date of incurrence  provided that (i) any Refinancing Term Loans shall not be in a principal amount that exceeds the amount  of Term Loans so refinanced, except to the extent a different incurrence basket pursuant to Section 7.03 is  utilized plus an amount equal to any fees, expenses, commissions, underwriting discounts and premiums  payable in connection with such Refinancing Term Loans, (ii) to the extent applicable, the Applicable  Intercreditor Agreement is entered into, (iii) other than with respect to any Inside Maturity Debt, any  Refinancing Term Loan does not mature prior to the maturity date of or have scheduled amortization or  commitment reductions prior to the maturity date of the Term Loans being refinanced, (iv) such  Refinancing Term Loans have the same guarantors and are secured by the same assets as the Term Loans  being refinanced, (v) the terms and conditions of such Refinancing Term Loans (excluding pricing and  optional prepayment or redemption terms or covenants or other provisions applicable only to periods after  the Maturity Date of the Loans or Term Commitments being refinanced) shall reflect market terms and  conditions at the time of incurrence or issuance and (vi) if such Refinancing Term Loans contain any  financial maintenance covenants, such covenants shall be added for the benefit of the Term Lenders.    “Register” has the meaning specified in Section 10.07(d).  “Rejection Notice” has the meaning specified in Section 2.05(b)(vi).  “Related Adjustment” means, in determining any LIBOR Successor Rate, the first  relevant available alternative set forth in the order below that can be determined by the Administrative  Agent applicable to such LIBOR Successor Rate:    (A) the spread adjustment, or method for calculating or determining such spread  adjustment, that has been selected or recommended by the Relevant Governmental Body  for the relevant Pre-Adjustment Successor Rate (taking into account the interest period,  interest payment date or payment period for interest calculated and/or tenor thereto) and  which adjustment or method (x) is published on an information service as selected by the  Administrative Agent from time to time in its reasonable discretion or (y) solely with  respect to Term SOFR, if not currently published, which was previously so recommended  for Term SOFR and published on an information service acceptable to the Administrative  Agent; or    the spread adjustment that would apply (or has previously been applied) to the fallback  rate for a derivative transaction referencing the ISDA Definitions (taking into account the interest period,  interest payment date or payment period for interest calculated and/or tenor thereto).    “Release” means any release, spill, emission, discharge, deposit, disposal, leaking,  pumping, pouring, dumping, emptying, injection, migration or leaching on, into or through the  Environment or into, from or through any building, structure or facility.    “Relevant Governmental Body” means the Federal Reserve Board and/or the Federal  Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve  Board and/or the Federal Reserve Bank of New York.    -51-  #95982248v17   “Reportable Event” means, with respect to any Pension Plan, any of the events set forth  in Section 4043(c) of ERISA or the regulations issued thereunder, other than events for which the thirty  (30) day notice period has been waived.    “Repricing Transaction” means, with respect to the Initial Term Loans, other than in  connection with a Change of Control, Qualifying IPO or Transformative Acquisition, (a) any prepayment  or repayment of Initial Term Loans with the proceeds of, or any conversion of Initial Term Loans into,  any new or replacement tranche of secured term loans bearing interest with an Effective Yield less than  the Effective Yield applicable to the Initial Term Loans, (b) any amendment (including pursuant to a  replacement term loan as contemplated by Section 10.01) to the Initial Term Loans which reduces the  Effective Yield applicable to the Initial Term Loans and (c) any mandatory assignment by a  Non-Consenting Lender pursuant to Section 3.06 in connection with an event described in clause (a) or  (b); provided, that in the case of clause (a) and (b), the primary purpose of such prepayment, repayment or  amendment is to reduce the Effective Yield as set forth above.    “Request for Credit Extension” means, with respect to a Borrowing, conversion or  continuation of Term Loans, a Committed Loan Notice.    “Required Lenders” means, as of any date of determination, Lenders having more than  50% of the sum of the (a) Total Outstandings and (b) aggregate unused Term Commitments; provided  that the unused Term Commitment of, and the portion of the Total Outstandings held or deemed held by  any Defaulting Lender or Lenders that are Affiliated Lenders (other than Affiliated Debt Funds) shall be  excluded for purposes of making a determination of Required Lenders.    “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK  Financial Institution, a UK Resolution Authority.    “Responsible Officer” means the chief executive officer, president, vice president, chief  financial officer, treasurer, assistant treasurer, or other similar officer or director of a Loan Party and, as  to any document delivered on the Closing Date, any secretary or assistant secretary of a Loan Party and,  as to any document delivered on the Closing Date, any secretary or assistant secretary of a Loan Party  and, solely for purposes of notices given pursuant to Article II, any other officer of the applicable Loan  Party so designated by any of the foregoing officers in a notice to the Administrative Agent or any other  officer or employee of the applicable Loan Party designated in or pursuant to an agreement between the  applicable Loan Party and the Administrative Agent. Any document delivered hereunder that is signed  by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all  necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible  Officer shall be conclusively presumed to have acted on behalf of such Loan Party.    “Restricted Casualty Event” has the meaning specified in Section 2.05(b)(viii).  “Restricted Disposition” has the meaning specified in Section 2.05(b)(viii).  “Restricted Payment” means any dividend or other distribution (whether in cash,  securities or other property) with respect to any Equity Interest in any Parent, the Borrower or any  Restricted Subsidiary, or any payment (whether in cash, securities or other property), including any  sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance,  acquisition, cancellation or termination of any such Equity Interest, or on account of any return of capital  to the holders of Equity Interests of any Parent.      -52-  





 






#95982248v17   “Restricted Subsidiary” means any Subsidiary of any Parent (other than the Borrower)  other than an Unrestricted Subsidiary.    “Retained Declined Proceeds” has the meaning specified in Section 2.05(b)(vi).  “RILP” means Rice Investments, L.P.  “S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global  Inc., and any successor thereto.    “Sale Leaseback” means any transaction or series of related transactions pursuant to  which any Parent, the Borrower or any of the Restricted Subsidiaries (a) sells, transfers or otherwise  disposes of any property, real or personal, whether now owned or hereafter acquired, and (b) as part of  such transaction, thereafter rents or leases such property or other property that it intends to use for  substantially the same purpose or purposes as the property being sold, transferred or disposed.    “Sanctions Laws and Regulations” means any sanctions or related requirements imposed  by the USA PATRIOT Act, the Executive Order No. 13224 of September 23, 2001, entitled Blocking  Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support  Terrorism (66 Fed. Reg. 49079 (2001)), the U.S. International Emergency Economic Powers Act (50  U.S.C. §§ 1701 et seq.), the U.S. Trading with the Enemy Act (50 U.S.C. App. §§ 2 et seq.), the U.S.  Syria Accountability and Lebanese Sovereignty Act, the U.S. Comprehensive Iran Sanctions,  Accountability, and Divestment Act of 2010 or the Iran Sanctions Act, Section 1245 of the National  Defense Authorization Act of 2012, all as amended, or any of the foreign assets control regulations  (including but not limited to 31 C.F.R., Subtitle B, Chapter V, as amended) or any other law or executive  order relating thereto administered by the U.S. Department of the Treasury Office of Foreign Assets  Control or the U.S. Department of State enacted in the United States after the Closing Date.    “Scheduled Unavailability Date” has the meaning specified in Section 1.103.02(ab)(ii).    “SEC” means the Securities and Exchange Commission or any Governmental Authority  succeeding to any of its principal functions.    “Second Amendment Effective Date” means January 20, 2021.    “Secured Parties” means, collectively, the Administrative Agent, the Collateral Agent,  the Lenders, the Supplemental Administrative Agent and each co-agent or sub-agent appointed by the  Administrative Agent from time to time pursuant to Section 9.02.    “Securities Act” means the Securities Act of 1933.    “Security Agreement” means, collectively, the First Lien Security Agreement executed  by the Loan Parties party thereto on the Closing Date substantially in the form of Exhibit H as  supplemented by any Security Agreement Supplement executed and delivered pursuant to Section 6.10.    “Security Agreement Supplement” means a supplement to any Security Agreement as  contemplated by such Security Agreement.          -53-  #95982248v17   “Senior Secured Leverage Ratio” means, with respect to any Test Period, the ratio of (a)  Consolidated Total Debt secured by the Collateral (b) Consolidated EBITDA of the Parents, the Borrower  and the Restricted Subsidiaries for such Test Period    “SOFR” with respect to any Business Day means the secured overnight financing rate  published for such day by the Federal Reserve Bank of New York, as the administrator of the benchmark  (or a successor administrator) on the Federal Reserve Bank of New York’s website (or any successor  source) at approximately 8:00 a.m. (New York City time) on the immediately succeeding Business Day  and, in each case, that has been selected or recommended by the Relevant Governmental Body.    “SOFR Adjustment” with respect to Daily Simple SOFR means 0.11448% (11.448 basis  points); and with respect to Term SOFR means 0.11448% (11.448 basis points) for an Interest Period of  one-month’s duration, 0.26161% (26.161 basis points;) for an Interest Period of three-month’s duration,  and 0.42826% (42.826 basis points) for an Interest Period of six-months’ duration.    “Sold Entity or Business” has the meaning specified in the definition of the term  “Consolidated EBITDA.”    “Solvent” and “Solvency” mean, with respect to any Person on any date of determination,  that on such date (i) the fair value of the property of such Person is greater than the total amount of debts  and liabilities, contingent, subordinated or otherwise, of such Person, (ii) the present fair salable value of  the assets of such Person is not less than the amount that will be required to pay the liability of such  Person on its debts as they become absolute and matured, (iii) such Person will be able to pay its debts  and liabilities, subordinated, contingent or otherwise, as they become absolute and matured and (iv) such  Person is not engaged in business or a transaction, and is not about to engage in business or a transaction,  for which such Person’s property would constitute an unreasonably small capital; provided that the  amount of contingent liabilities at any time shall be computed as the amount that, in light of all the facts  and circumstances existing at such time, represents the amount that can reasonably be expected to become  an actual or matured liability.    “SPC” has the meaning specified in Section 10.07(h).    “Specified Assets” means non-core assets having an aggregate fair market value (as  determined in good faith by the Borrower) that is not in excess of $15,000,000.    “Specified Communications” has the meaning set forth in Section 10.02(g).  “Specified Dispositions” means a Disposition of Specified Assets.  “Specified Event of Default” means an Event of Default pursuant to Sections 8.01(a),  8.01(f) or 8.01(g) (in the case of Section 8.01(f) or 8.01(g), with respect to any Parent or the Borrower).    “Specified Representations” means the representations and warranties of the Borrower set  forth in Sections 5.01(a) (solely as it relates to any Parent and the Borrower), 5.01(b)(ii), 5.02(a) (related  to the entering into and performance of the Loan Documents and the incurrence of the extensions of credit  thereunder), 5.02(b)(i) (related to the entering into and performance of the Loan Documents and the  incurrence of the extensions of credit thereunder), 5.04, 5.12, 5.15, 5.16 (subject to the proviso to Section  4.01(a)(iii)) and 5.18 (limited to the use of proceeds of the Loans on the Closing Date).    “Specified Transaction” means any Investment, Disposition, incurrence or repayment of  Indebtedness, Restricted Payment, Subsidiary designation or Incremental Term Loan that by the terms of  -54-  





 






#95982248v17   this Agreement requires such test to be calculated on a “Pro Forma Basis” or after giving “Pro Forma  Effect”; provided at the Borrower’s sole election that any such Specified Transaction (other than a  Restricted Payment) having an aggregate value of less than $10,000,000 shall not be calculated on a “Pro  Forma Basis” or after giving “Pro Forma Effect.”    “SRS Leasing Parent” has the meaning specified in the introductory paragraph to this  Agreement.    “Subordinated Debt” means Indebtedness incurred by a Loan Party that is subordinated  in right of payment to the prior payment of all Obligations of such Loan Party under the Loan  Documents.    “Subsidiary” of a Person means a corporation, company, partnership, joint venture,  limited liability company or other business entity of which a majority of the shares of securities or other  interests having ordinary voting power for the election of directors or other governing body (other than  securities or interests having such power only by reason of the happening of a contingency) are at the  time beneficially owned, or the management of which is otherwise controlled, directly or indirectly,  through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references  herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of any Parent.    “Subject Parent” has the meaning specified in Section 7.04(h).    “Subsidiary Guarantor” means, collectively, the Subsidiaries of any Parent (other than the  Borrower) that are Guarantors.    “Successor Borrower” has the meaning specified in Section 7.04(d).  “Successor Holdings” has the meaning specified in Section 7.04(h).  “Successor Rate” has the meaning specified in Section 3.02(b).  “Supplemental Administrative Agent” has the meaning specified in Section 9.13(a) and  “Supplemental Administrative Agents” shall have the corresponding meaning.    “Supported QFC” has the meaning specified in Section 10.27.    “Surviving Indebtedness” means Indebtedness of any Parent, the Borrower or any of the  other Subsidiaries outstanding immediately after giving effect to the Refinancing.    “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit  derivative transactions, forward rate transactions, commodity swaps, commodity options, forward  commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or  options or forward bond or forward bond price or forward bond index transactions, interest rate options,  forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency  swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other  similar transactions or any combination of any of the foregoing (including any options to enter into any of  the foregoing), whether or not any such transaction is governed by or subject to any master agreement,  and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms  and conditions of, or governed by, any form of master agreement published by the International Swaps  and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other    -55-  #95982248v17   master agreement (any such master agreement, together with any related schedules, a “Master  Agreement”), including any such obligations or liabilities under any Master Agreement.    “Swap Termination Value” means, in respect of any one or more Swap Contracts, after  taking into account the effect of any legally enforceable netting agreement relating to such Swap  Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination  value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the  date referenced in clause (a), the amount(s) determined as the mark to market value(s) for such Swap  Contracts, as determined by a recognized dealer in such Swap Contracts (which may include a Lender or  any Affiliate of a Lender) in accordance with the terms thereof and in accordance with customary  methods for calculating mark-to-market values under similar arrangements by a recognized dealer in such  Swap Contracts (which may include a Lender or any Affiliate of a Lender).    “Taxes” means all present or future taxes, duties, levies, imposts, deductions,  assessments, withholdings or similar charges in the nature of a tax imposed by any Governmental  Authorities, and all liabilities (including additions to tax, penalties and interest) with respect thereto.    “Term Borrowing” means a Borrowing in respect of a Class of Term Loans.    “Term Commitments” means an Initial Term Commitment, a 2021 Refinancing Term  Commitment, a 2021 Incremental Term Commitment, a 2021-2 Incremental Term Commitment, a  commitment in respect of any other Incremental Term Loans, or a commitment in respect of any  Extended Term Loans or any combination thereof, as the context may require.    “Term Intercreditor Agreement” means the Term Intercreditor Agreement substantially in  the form of Exhibit G-2 among the Collateral Agent, Bank of America, N.A., as collateral agent under the  ABL Credit Agreement and the representatives for purposes thereof for holders of one or more other  classes of Indebtedness, the Borrower and the other parties thereto, as amended, restated, supplemented or  otherwise modified from time to time in accordance with the requirements thereof and of this Agreement,  and which shall also include any replacement intercreditor agreement entered into in accordance with the  terms hereof.    “Term Lender” means, at any time, any Lender that has a Term Loan or a Term  Commitment at such time.    “Term Loans” means the Initial Term Loans, the 2021 New Term Loans, the 2021  Refinancing Term Loans, the 2021 Incremental Term Loans, the 2021-2 Incremental Term Loans, any  other Incremental Term Loans and the Extended Term Loans.    “Term Note” means a promissory note of the Borrower payable to any Lender or its  registered assigns, in substantially the form of Exhibit C hereto with appropriate insertions, evidencing  the aggregate Indebtedness of the Borrower to such Lender resulting from any Class of Term Loans made  by such Lender.  “Term Priority Collateral” has the meaning set forth in the ABL Intercreditor Agreement.  “Test Period” means, at any date of determination, the most recently completed four  consecutive fiscal quarters of the Borrower ending on or prior to such date for which financial statements  have been or are required to be delivered pursuant to Section 4.01, Section 6.01(a) or 6.01(b).      -56-  





 






#95982248v17   “Term SOFR” means:    (a) for any Interest Period with respect to a Term SOFR Loan, the rate per annum  equal to the Term SOFR Screen Rate two U.S. Government Securities Business Days prior to the  commencement of such Interest Period with a term equivalent to such Interest Period; provided that if the  rate is not published prior to 11:00 a.m. on such determination date then Term SOFR means the Term  SOFR Screen Rate on the first U.S. Government Securities Business Day immediately prior thereto, in  each case, plus the SOFR Adjustment for such Interest Period; and    (b) for any interest calculation with respect to a Base Rate Loan on any date, the rate  per annum equal to the Term SOFR Screen Rate with a term of one month commencing that day, plus the  SOFR Adjustment for an Interest Period of one month;    provided that if the Term SOFR determined in accordance with either of the foregoing provisions (a) or  (b) of this definition would otherwise be less than 0.00%, the Term SOFR shall be deemed 0.00% for  purposes of this Agreement.     “Term SOFR Loan” means a Loan that bears interest at a rate based on clause (a) of the  definition of Term SOFR.    “Term SOFR Replacement Date” has the meaning specified in Section 3.02(b).    “Term SOFR Screen Rate” means the forward-looking SOFR term rate for any period  that is approximately (as determined byadministered by CME (or any successor administrator satisfactory  to the Administrative Agent) as long as any of the Interest Period options set forth in the definition of  “Interest Period” and that is based on SOFR and that has been selected or recommended by the Relevant  Governmental Body, in each case as published on an information service as selectedand published on the  applicable Reuters screen page (or such other commercially available source providing such quotations as  may be designated by the Administrative Agent from time to time in its reasonable discretion).    “Third Amendment Effective Date” means June 22, 2021.  “Threshold Amount” means $50,000,00053,000,000.  “Total Leverage Ratio” means, with respect to any Test Period, the ratio of (a)  Consolidated Total Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the  Parents, the Borrower and the Restricted Subsidiaries for such Test Period.  “Total Outstandings” means the aggregate Outstanding Amount of all Loans.  “Transaction” means, collectively, (a) the execution and delivery of the Loan Documents  and the funding of the Initial Term Loans hereunder, (b) the execution and delivery of the Second Lien  Loan Documents (as defined in the Existing Credit Agreement) and the funding of the Initial Term Loans  (as defined in the Second Lien Facility (as defined in the Existing Credit Agreement)) under the Second  Lien Facility (as defined in the Existing Credit Agreement) on the Closing Date, (c) the execution and  delivery of the ABL Loan Documents and the effectiveness of the ABL Facility, (d) the Closing Date  Restricted Payment, (e) the Refinancing and (f) the payment of Transaction Expenses.          -57-  #95982248v17   “Transaction Expenses” means any fees or expenses incurred or paid by any Parent, the  Borrower, or any Restricted Subsidiary in connection with the Transaction and the transactions  contemplated in connection therewith.    “Transformative Acquisition” means any acquisition or investment by any Parent, the  Borrower or any Restricted Subsidiary that is either (a) not permitted hereunder immediately prior to the  consummation of such acquisition or (b) if permitted by the terms hereunder immediately prior to the  consummation of such acquisition or investment, this Agreement would not provide the Parents, the  Borrower and the Restricted Subsidiaries with adequate flexibility for the continuation and/or expansion  of their combined operations following such consummation or acquisition, as determined by the Borrower  acting in good faith.    “Type” means, with respect to a Loan, its character as a Base Rate Loan or a  Eurocurrency RateTerm SOFR Loan.    “U.S. Government Securities Business Day” means any Business Day, except any  Business Day on which any of the Securities Industry and Financial Markets Association, the New York  Stock Exchange or the Federal Reserve Bank of New York is not open for business because such day is a  legal holiday under the federal laws of the United States or the laws of the State of New York, as  applicable.    “U.S. Special Resolution Regimes” has the meaning specified in Section 10.27.    “UK Financial Institution” means any BRRD Undertaking (as such term is defined under  the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential  Regulation Authority) or any person subject to IFPRU 11.6 of the FCA Handbook (as amended from time  to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit  institutions and investment firms, and certain affiliates of such credit institutions or investment firms.    “UK Resolution Authority” means the Bank of England or any other public  administrative authority having responsibility for the resolution of any UK Financial Institution.    “UM-R Parent” has the meaning specified in the introductory paragraph to this  Agreement.    “UM-U Parent” has the meaning specified in the introductory paragraph to this  Agreement.    “Unaudited Financial Statements” means (i) the unaudited Consolidated balance sheet of  the Parents and their respective Subsidiaries for the fiscal quarters ended on the Sunday closest to March  31, 2017 and the Sunday closest to June 30, 2017 and (ii) the related unaudited Consolidated statements  of income, equity and cash flows for such fiscal quarter.    “Undisclosed Administration” means in relation to a Lender or its parent company the  appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other  similar official by a supervisory authority or regulator under or based on the law in the country where  such Lender or such parent company is subject to home jurisdiction supervision if applicable law requires  that such appointment is not to be publicly disclosed.    “Uniform Commercial Code” or “UCC” means the Uniform Commercial Code as the  same may from time to time be in effect in the State of New York or the Uniform Commercial Code (or  -58-  





 






#95982248v17   similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or  items of Collateral.    “United States” and “U.S.” mean the United States of America.  “United States Tax Compliance Certificate” has the meaning specified in Section 3.01.  “Unrestricted Incremental First Lien Amount” means, with respect to the incurrence or  issuance of Incremental Facilities or Permitted Alternative Incremental Facilities Debt, an amount not to  exceed the greater of (i) $202,000,000212,500,000 and (ii) 100% of Consolidated EBITDA of the  Parents, the Borrower and the Restricted Subsidiaries for the most recently ended Test Period (calculated  on a Pro Forma Basis), in the aggregate for all such incurrences or issuances after the Second Amendment  Effective Date.    “Unrestricted Subsidiary” means (i) each Subsidiary of any Parent listed on Schedule  1.01B, (ii) any Subsidiary of any Parent designated by the Borrower as an Unrestricted Subsidiary  pursuant to Section 6.13 subsequent to the Closing Date, provided that no Intermediate Holding Company  or the Borrower may be designated as an Unrestricted Subsidiary, and (iii) any Subsidiary of an  Unrestricted Subsidiary.    “USA PATRIOT Act” means The Uniting and Strengthening America by Providing  Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No.  107-56 (signed into law October 26, 2001)), as amended or modified from time to time.  “Voluntary Prepayment Amount” has the meaning specified in Section 2.14(a).  “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any  date, the number of years obtained by dividing: (i) the sum of the products obtained by multiplying (a)  the amount of each then remaining installment, sinking fund, serial maturity or other required payments  of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated  to the nearest one-twelfth) that will elapse between such date and the making of such payment by (ii) the  then outstanding principal amount of such Indebtedness.    “Wholly Owned” means, with respect to a Subsidiary of a Person, a Subsidiary of such  Person all of the outstanding Equity Interests of which (other than (x) director’s qualifying shares and  (y) shares issued to foreign nationals to the extent required by applicable Law) are owned by such Person  and/or by one or more wholly owned Subsidiaries of such Person. RILP shall be deemed to be a  Wholly-Owned Subsidiary of UM-R Parent.    “Withdrawal Liability” means the liability of a Multiemployer Plan as a result of a  complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of  Subtitle E of Title IV of ERISA.    “Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution  Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time  under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion  powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom,  any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify  or change the form of a liability of any UK Financial Institution or any contract or instrument under  which that liability arises, to convert all or part of that liability into shares, securities or obligations of that  person or any other person, to provide that any such contract or instrument is to have effect as if a right  -59-  #95982248v17   had been exercised under it or to suspend any obligation in respect of that liability or any of the powers  under that Bail-In Legislation that are related to or ancillary to any of those powers.    Section 1.02 Other Interpretive Provisions. With reference to this Agreement and  each other Loan Document, unless otherwise specified herein or in such other Loan Document:    (a) The meanings of defined terms are equally applicable to the singular and plural  forms of the defined terms.    (b) (i) The words “herein,” “hereto,” “hereof” and “hereunder” and words of similar  import when used in any Loan Document shall refer to such Loan Document as a whole and not to any  particular provision thereof.    (ii) Article, Section, Exhibit and Schedule references are to the Loan Document in  which such reference appears.    (iii) The term “including” is by way of example and not limitation.    (iv) The term “documents” includes any and all instruments, documents, agreements,  certificates, notices, reports, financial statements and other writings, however evidenced, whether  in physical or electronic form.    (c) In the computation of periods of time from a specified date to a later specified  date, the word “from” means “from and including”; the words “to” and “until” each mean “to but  excluding”; and the word “through” means “to and including.”    (d) Section headings herein and in the other Loan Documents are included for  convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan  Document.    Section 1.03 Accounting Terms.    (a) All accounting terms not specifically or completely defined herein shall be  construed in conformity with, and all financial data (including financial ratios and other financial  calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with,  GAAP, applied in a manner consistent with that used in preparing the Audited Financial Statements,  except as otherwise specifically prescribed herein.    (b) Notwithstanding anything to the contrary herein, for purposes of determining  compliance with any test contained in this Agreement with respect to any period during which any  Specified Transaction occurs, the Total Leverage Ratio, the First Lien Senior Secured Leverage Ratio and  the Senior Secured Leverage Ratio shall be calculated with respect to such period and such Specified  Transaction on a Pro Forma Basis.    (c) Where reference is made to “the Parents, the Borrower and the Restricted  Subsidiaries on a consolidated basis” or similar language, such consolidation shall not include any  Subsidiaries of any Parent other than Restricted Subsidiaries.    (d) In the event that the Borrower elects to prepare its financial statements in  accordance with IFRS and such election results in a change in the method of calculation of financial  covenants, standards or terms (collectively, the “Accounting Changes”) in this Agreement, the Borrower  -60-  





 






#95982248v17   and the Administrative Agent agree to enter into good faith negotiations in order to amend such  provisions of this Agreement (including the levels applicable herein to any computation of the Total  Leverage Ratio, the First Lien Senior Secured Leverage Ratio and the Senior Secured Leverage Ratio) so  as to reflect equitably the Accounting Changes with the desired result that the criteria for evaluating the  Parents’ and the Borrower’s financial condition shall be substantially the same after such change as if  such change had not been made. Until such time as such an amendment shall have been executed and  delivered by the Borrower, the Administrative Agent and the Required Lenders, all financial covenants,  standards and terms in this Agreement shall continue to be calculated or construed in accordance with  GAAP (as determined in good faith by a Responsible Officer of the Borrower) (it being agreed that the  reconciliation between GAAP and IFRS used in such determination shall be made available to Lenders)  as if such change had not occurred.    Section 1.04 Rounding. Any financial ratios required to be satisfied in order for a  specific action to be permitted under this Agreement shall be calculated by dividing the appropriate  component by the other component, carrying the result to one place more than the number of places by  which such ratio is expressed herein and rounding the result up or down to the nearest number (with a  rounding-up if there is no nearest number).    Section 1.05 References to Agreements, Laws, Etc. Unless otherwise expressly  provided herein, (a) references to Organization Documents, agreements (including the Loan Documents)  and other contractual instruments shall be deemed to include all subsequent amendments, restatements,  extensions, supplements and other modifications thereto, but only to the extent that such amendments,  restatements, extensions, supplements and other modifications are permitted by any Loan Document; (b)  references to any Law shall include all statutory and regulatory provisions consolidating, amending,  replacing, supplementing or interpreting such Law; and (c) any reference herein to any Person shall be  construed to include such Person’s successors and permitted assigns.    Section 1.06 Times of Day. Unless otherwise specified, all references herein to  times of day shall be references to Eastern time (daylight or standard, as applicable).    Section 1.07 Timing of Payment or Performance. When the payment of any  obligation or the performance of any covenant, duty or obligation is stated to be due or performance  required on a day which is not a Business Day, the date of such payment (other than as described in the  definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.    Section 1.08 Currency Equivalents Generally.    (a) Any amount specified in this Agreement (other than in Article II, Article IX and  Article X or as set forth in paragraph (b) or (c) of this Section) or any of the other Loan Documents to be  in Dollars shall also include the dollar equivalent of such amount in any currency other than Dollars.    (b) Notwithstanding the foregoing, for purposes of determining compliance with  Sections 7.01, 7.02 and 7.03 with respect to any amount of any Liens, Indebtedness or Investment in a  currency other than Dollars, no Default shall be deemed to have occurred solely as a result of changes in  rates of exchange occurring after the time such Lien, Indebtedness or Investment is incurred; provided  that, for the avoidance of doubt, the foregoing provisions of this Section 1.08 shall otherwise apply to  such Sections, including with respect to determining whether any Indebtedness or Investment may be  incurred at any time under such Sections.    (c) For purposes of determining compliance under Sections 7.02, 7.05 and 7.06, any  amount in a currency other than Dollars will be converted to Dollars in a manner consistent with that used  -61-  #95982248v17   in calculating net income in the annual financial statements delivered pursuant to Section 6.01(a);  provided, however, that the foregoing shall not be deemed to apply to the determination of any amount of  Indebtedness.    (d) For purposes of determining compliance with any restriction on the incurrence of  Indebtedness, the Dollar equivalent of the principal amount of Indebtedness denominated in a foreign  currency shall be calculated based on the exchange rate in effect on the date such Indebtedness was  incurred, in the case of term debt, or first committed, in the case of revolving credit debt; provided that if  such Indebtedness is incurred to extend, replace, refund, refinance, renew or defease other Indebtedness  denominated in a foreign currency, and such extension, replacement, refunding, refinancing, renewal or  defeasance would cause the applicable restriction to be exceeded if calculated at the relevant currency  exchange rate in effect on the date of such extension, replacement, refunding, refinancing, renewal or  defeasance, such restriction shall be deemed not to have been exceeded so long as the principal amount of  such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being extended,  replaced, refunded, refinanced, renewed or defeased.    Section 1.09 Certain Calculations and Tests.    (a) Notwithstanding anything in this Agreement or any Loan Document to the  contrary, when calculating any applicable ratio or determining other compliance with this Agreement  (including the determination of compliance with any provision of this Agreement (other than Section  4.02) which requires that no Default or Event of Default has occurred, is continuing or would result  therefrom) in connection with a Specified Transaction undertaken in connection with the consummation  of a Limited Condition Transaction, the date of determination of such ratio or other applicable covenant  and determination of whether any Default or Event of Default has occurred, is continuing or would result  therefrom or other applicable covenant, shall, at the option of the Borrower (the Borrower’s election to  exercise such option in connection with any Limited Condition Transaction, an “LCA Election”), be  deemed to be either (i) the date that the definitive agreements for such Limited Condition Transaction are  entered into or (ii) solely in connection with an acquisition to which the United Kingdom City Code on  Takeovers and Mergers (the “City Code”) applies, the date on which a “Rule 2.7 announcement” of a firm  intention to make an offer in respect of a target company is made in compliance with the City Code (in  each case, the “LCA Test Date”) and if, after such ratios and other provisions are measured on a Pro  Forma Basis after giving effect to such Limited Condition Transaction and the other Specified  Transactions to be entered into in connection therewith and the use of proceeds thereof as if they occurred  at the beginning of the four consecutive fiscal quarter period being used to calculate such financial ratio  ending prior to the LCA Test Date, the Borrower could have taken such action on the relevant LCA Test  Date in compliance with such ratios and provisions, such provisions shall be deemed to have been  complied with. For the avoidance of doubt, (x) if any of such ratios are exceeded as a result of  fluctuations in such ratio (including due to fluctuations in Consolidated EBITDA of the Parents, the  Borrower and the Restricted Subsidiaries) at or prior to the consummation of the relevant Limited  Condition Transaction, such ratios and other provisions will not be deemed to have been exceeded as a  result of such fluctuations solely for purposes of determining whether the Limited Condition Transaction  is permitted hereunder and (y) such ratios and other provisions shall not be tested at the time of  consummation of such Limited Condition Transaction or related Specified Transactions. If the Borrower  has made an LCA Election for any Limited Condition Transaction, then in connection with any  subsequent calculation of any ratio or basket availability with respect to any other Specified Transaction  on or following the relevant LCA Test Date and prior to the earlier of the date on which such Limited  Condition Transaction is consummated or the date that the definitive agreement for, or “Rule 2.7  announcement” in respect of, as applicable, such Limited Condition Transaction is terminated or expires  without consummation of such Limited Condition Transaction, any such ratio or basket shall be  calculated on a Pro Forma Basis assuming such Limited Condition Transaction and other transactions in  -62-  





 






#95982248v17   connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) have  been consummated.    (b) Notwithstanding anything to the contrary herein, with respect to any amounts  incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that  does not require compliance with a financial ratio or test (including, without limitation, pro forma  compliance with any First Lien Senior Secured Leverage Ratio test, any Total Leverage Ratio test and/or  Senior Secured Leverage Ratio test (any such amounts, the “Fixed Amounts”)) substantially concurrently  with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of  this Agreement that requires compliance with any such financial ratio or test (any such amounts, the  “Incurrence Based Amounts”), it is understood and agreed that (i) the Fixed Amounts (and any cash  proceeds thereof) and (ii) any Indebtedness resulting from borrowings under the ABL Facility which  occur concurrently or substantially concurrently with the incurrence of the Incurrence Based Amounts  shall, in each case, be disregarded in the calculation of the financial ratio or test applicable to the  Incurrence Based Amounts in connection with such substantially concurrent incurrence, except that  incurrences of Indebtedness and Liens constituting Fixed Amounts shall be taken into account for  purposes of Incurrence Based Amounts contained in Section 7.06 or Section 7.08.    Inability to Determine Rates.    (a) Notwithstanding anything to the contrary in this Agreement or any other Loan  Documents, if the Administrative Agent determines (which determination shall be conclusive  absent manifest error), or the Borrower or Required Lenders notify the Administrative Agent  (with, in the case of the Required Lenders, a copy to the Borrower) that the Borrower or  Required Lenders (as applicable) have determined, that:    (i) adequate and reasonable means do not exist for ascertaining LIBOR for any  Interest Period hereunder or any other tenors of LIBOR, including, without limitation,  because the LIBOR Screen Rate is not available or published on a current basis and such  circumstances are unlikely to be temporary; or    (ii) the administrator of the LIBOR Screen Rate or a Governmental Authority  having jurisdiction over the Administrative Agent or such administrator has made a  public statement identifying a specific date after which LIBOR or the LIBOR Screen  Rate shall no longer be made available, or used for determining the interest rate of loans,  provided that, at the time of such statement, there is no successor administrator that is  satisfactory to the Administrative Agent, that will continue to provide LIBOR after such  specific date (such specific date, the “Scheduled Unavailability Date”); or    (iii) the administrator of the LIBOR Screen Rate or a Governmental Authority  having jurisdiction over such administrator has made a public statement announcing that  all Interest Periods and other tenors of LIBOR are no longer representative; or    (iv) syndicated loans currently being executed, or that include language similar to  that contained in this Section 1.10, are being executed or amended (as applicable) to  incorporate or adopt a new benchmark interest rate to replace LIBOR;    then, in the case of clauses (i)-(iii) above, on a date and time determined by the  Administrative Agent (any such date, the “LIBOR Replacement Date”), which date shall be at the end of  -63-  #95982248v17   an Interest Period or on the relevant interest payment date, as applicable, for interest calculated and shall  occur reasonably promptly upon the occurrence of any of the events or circumstances under clauses (i),  (ii) or (iii) above and, solely with respect to clause (ii) above, no later than the Scheduled Unavailability  Date, LIBOR will be replaced hereunder and under any Loan Document with, subject to the proviso  below, the first available alternative set forth in the order below for any payment period for interest  calculated that can be determined by the Administrative Agent, in each case, without any amendment to,  or further action or consent of any other party to, this Agreement or any other Loan Document (the  “LIBOR Successor Rate”; and any such rate before giving effect to the Related Adjustment, the  “Pre-Adjustment Successor Rate”):    (x) Term SOFR plus the Related Adjustment; and    (y) SOFR plus the Related Adjustment;    and in the case of clause (iv) above, the Borrower and Administrative Agent may amend  this Agreement solely for the purpose of replacing LIBOR under this Agreement and under any other  Loan Document in accordance with the definition of “LIBOR Successor Rate” and such amendment will  become effective at 5:00 p.m., on the fifth Business Day after the Administrative Agent shall have  notified all Lenders and the Borrower of the occurrence of the circumstances described in clause (iv)  above unless, prior to such time, Lenders comprising the Required Lenders have delivered to the  Administrative Agent written notice that such Required Lenders object to the implementation of a LIBOR  Successor Rate pursuant to such clause;    provided that, if the Administrative Agent determines that Term SOFR has become  available, is administratively feasible for the Administrative Agent and would have been identified as the  Pre-Adjustment Successor Rate in accordance with the foregoing if it had been so available at the time  that the LIBOR Successor Rate then in effect was so identified, and the Administrative Agent notifies the  Borrower and each Lender of such availability, then from and after the beginning of the Interest Period,  relevant interest payment date or payment period for interest calculated, in each case, commencing no less  than thirty (30) days after the date of such notice, the Pre-Adjustment Successor Rate shall be Term  SOFR and the LIBOR Successor Rate shall be Term SOFR plus the relevant Related Adjustment.    The Administrative Agent will promptly (in one or more notices) notify the Borrower and  each Lender of (x) any occurrence of any of the events, periods or circumstances under clauses (i)  through (iii) above, (y) a LIBOR Replacement Date and (z) the LIBOR Successor Rate.    Any LIBOR Successor Rate shall be applied in a manner consistent with market practice;  provided that to the extent such market practice is not administratively feasible for the Administrative  Agent, such LIBOR Successor Rate shall be applied in a manner as otherwise reasonably determined by  the Administrative Agent.  Notwithstanding anything else herein, if at any time any LIBOR Successor Rate as so  determined would otherwise be less than 0.00%, the LIBOR Successor Rate will be deemed to be 0.00%  for the purposes of this Agreement and the other Loan Documents.    In connection with the implementation of a LIBOR Successor Rate, the Administrative  Agent will have the right to make LIBOR Successor Rate Conforming Changes from time to time and,  notwithstanding anything to the contrary herein or in any other Loan Document, any amendments  implementing such LIBOR Successor Rate Conforming Changes will become effective without any  further action or consent of any other party to this Agreement; provided that, with respect to any such  amendment effected, the Administrative Agent shall post each such amendment implementing such    -64-  





 






#95982248v17   LIBOR Successor Rate Conforming Changes to the Borrower and the Lenders reasonably promptly after  such amendment becomes effective.  If the events or circumstances of the type described in 1.10(a)(i)-(iii) have occurred with  respect to the LIBOR Successor Rate then in effect, then the successor rate thereto shall be determined in  accordance with the definition of “LIBOR Successor Rate.”  (b) Notwithstanding anything to the contrary herein, (i) after any such determination by  the Administrative Agent or receipt by the Administrative Agent of any such notice described  under Section 1.10(a)(i)-(iii), as applicable, if the Administrative Agent determines that none of  the LIBOR Successor Rates is available on or prior to the LIBOR Replacement Date, (ii) if the  events or circumstances described in Section 1.10(a)(iv) have occurred but none of the LIBOR  Successor Rates is available, or (iii) if the events or circumstances of the type described in  Section 1.10(a)(i)-(iii) have occurred with respect to the LIBOR Successor Rate then in effect  and the Administrative Agent determines that none of the LIBOR Successor Rates is available,  then in each case, the Administrative Agent and the Borrower may amend this Agreement solely  for the purpose of replacing LIBOR or any then current LIBOR Successor Rate in accordance  with this Section 1.10 at the end of any Interest Period, relevant interest payment date or  payment period for interest calculated, as applicable, with another alternate benchmark rate  giving due consideration to any evolving or then existing convention for similar U.S. dollar  denominated syndicated credit facilities for such alternative benchmarks and, in each case,  including any Related Adjustments and any other mathematical or other adjustments to such  benchmark giving due consideration to any evolving or then existing convention for similar U.S.  dollar denominated syndicated credit facilities for such benchmarks, which adjustment or  method for calculating such adjustment shall be published on an information service as selected  by the Administrative Agent from time to time in its reasonable discretion and may be  periodically updated. For the avoidance of doubt, any such proposed rate and adjustments shall  constitute a LIBOR Successor Rate. Any such amendment shall become effective at 5:00 p.m. on  the fifth Business Day after the Administrative Agent shall have posted such proposed  amendment to all Lenders and the Borrower unless, prior to such time, Lenders comprising the  Required Lenders have delivered to the Administrative Agent written notice that such Required  Lenders object to such amendment.    (c) If, at the end of any Interest Period, relevant interest payment date or payment period  for interest calculated, no LIBOR Successor Rate has been determined in accordance with  clauses (a) or (b) of this Section 1.10 and the circumstances under clauses (a)(i) or (a)(iii) above  exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative  Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of  the Lenders to make or maintain Eurocurrency Rate Loans shall be suspended, (to the extent of  the affected Eurocurrency Rate Loans, Interest Periods, interest payment dates or payment  periods), and (y) the Eurocurrency Rate component shall no longer be utilized in determining the  Base Rate, until the LIBOR Successor Rate has been determined in accordance with clauses (a)  or (b). Upon receipt of such notice, the Borrower may revoke any pending request for a  Borrowing of, conversion to or continuation of Eurocurrency Rate Loans (to the extent of the  affected Eurocurrency Rate Loans, Interest Periods, interest payment dates or payment periods)  or, failing that, will be deemed to have converted such request into a request for a Borrowing of  Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein.        -65-  #95982248v17   ARTICLE II    The Term Commitments and Credit Extensions    Section 2.01 The Term Borrowings. Subject to the terms and conditions set forth  herein, in Amendment No. 2 and Amendment No. 3, (a) each 2021 New Term Lender severally agrees to  make to the Borrower a single loan in Dollars in a principal amount equal to such 2021 New Term  Lender’s 2021 Refinancing Term Commitment and 2021 Incremental Term Commitment, as applicable,  on the Second Amendment Effective Date and (b) each 2021-2 Incremental Term Lenders severally  agrees to make to the Borrower a single loan in Dollars in a principal amount equal to such 2021-2  Incremental Term Lender’s 2021-2 Incremental Term Commitment on the Third Amendment Effective  Date. Amounts borrowed under this Section 2.01 and repaid or prepaid may not be reborrowed. 2021  New Term Loans or 2021-2 Incremental Term Loans, as applicable, may be Base Rate Loans or  Eurocurrency RateTerm SOFR Loans, as further provided herein.    Section 2.02 Borrowings, Conversions and Continuations of Loans.    (a) Each Term Borrowing, each conversion of Loans from one Type to the other, and  each continuation of Eurocurrency RateTerm SOFR Loans shall be made upon the Borrower’s  irrevocable notice, to the Administrative Agent, which may be given by telephone. Each such notice  must be received by the Administrative Agent substantially in the form attached hereto as Exhibit A or  any other form that may be approved by the Administrative Agent (including any form on an electronic  platform or electronic transmission system as shall be approved by the Administrative Agent, (i) in the  case of a Eurocurrency RateTerm SOFR Loan, not later than 1:00 p.m., New York City time, threetwo  (32) Business Days before the date of the proposed Borrowing or (ii) in the case of a Base Rate Loan, not  later than 1:00 p.m., New York City time, on the Business Day of the proposed Borrowing. Each  telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by hand  delivery, telecopy or electronic transmission to the Administrative Agent of a written Committed Loan  Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing  of, conversion to or continuation of Eurocurrency RateTerm SOFR Loans shall be in a principal amount  of $1,000,000 or a whole multiple of $100,000 in excess thereof. Each Borrowing of or conversion to  Base Rate Loans shall be a minimum of $500,000 (and any amount in excess thereof shall be an integral  multiple of $100,000). Each Committed Loan Notice (whether telephonic or written) shall specify (i)  whether the Borrower is requesting a Term Borrowing, a conversion of Loans from one Type to the other,  or a continuation of Eurocurrency RateTerm SOFR Loans, (ii) the requested date of the Borrowing,  conversion or continuation, as the case may be (which shall be a Business Day), (iii) the Class, currency  and principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be  borrowed or to which existing Loans are to be converted, (v) if applicable, the duration of the Interest  Period with respect thereto and (vi) the location and number of the Borrower’s account to which funds are  to be disbursed, which shall comply with the requirements of Section 2.02(b). If the Borrower fails to  specify a currency in a Committed Loan Notice requesting a Borrowing, then the applicable Loans shall  be made in Dollars. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails  to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made  or continued as, or converted to Base Rate Loans; provided, that, notwithstanding anything herein to the  contrary, all Loans denominated in a currency other than Dollars shall be Eurocurrency Rate Loans.. Any  such automatic conversion or continuation shall be effective as of the last day of the Interest Period then  in effect with respect to the applicable Eurocurrency RateTerm SOFR Loans. If the Borrower requests a  Borrowing of, conversion to, or continuation of Eurocurrency RateTerm SOFR Loans in any such  Committed Loan Notice, but failfails to specify an Interest Period, it will be deemed to have specified an  Interest Period of one (1) month. For the avoidance of doubt, the Borrower and Lenders acknowledge    -66-  





 






#95982248v17   and agree that any conversion or continuation of an existing Loan shall be deemed to be a continuation of  that Loan with a converted interest rate methodology and not a new Loan.    (b) Following receipt of a Committed Loan Notice, the Administrative Agent shall  promptly notify each Appropriate Lender of the amount of its Applicable Percentage of the applicable  Class of Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the  Administrative Agent shall notify each Appropriate Lender of the details of any automatic conversion to  Base Rate Loans or continuation described in Section 2.02(a). In the case of each Borrowing, each  Appropriate Lender shall make (or cause its Applicable Lending Office to make) the amount of its Loan  available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office  for the applicable currency not later than 1:00 p.m. on the Business Day specified in the applicable  Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if  such Borrowing is the Credit Extension on the Closing Date, Section 4.01), the Administrative Agent  shall, not later than 3:00 p.m. on the borrowing date specified in such Committed Loan Notice, make all  funds so received available to the Borrower in like funds as received by the Administrative Agent either  by (i) crediting the account of the Borrower maintained with the Administrative Agent with the amount of  such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to  (and reasonably acceptable to) the Administrative Agent by the Borrower.    (c) Except as otherwise provided herein, a Eurocurrency RateTerm SOFR Loan may  be continued or converted only on the last day of an Interest Period for such Eurocurrency RateTerm  SOFR Loan unless the Borrower pays the amount due, if any, under Section 3.04 in connection therewith.  During the existence of an Event of Default, the Administrative Agent or the Required Lenders may  require that (i) no Loans may be converted to or continued as Eurocurrency RateTerm SOFR Loans and  (ii) unless repaid, each Eurocurrency RateTerm SOFR Loan shall be converted to a Base Rate Loan at the  end of the Interest Period applicable thereto.    (d) The Administrative Agent shall promptly notify the Borrower and the Lenders of  the interest rate applicable to any Interest Period for Eurocurrency RateTerm SOFR Loans upon  determination of such interest rate. The determination of the Eurocurrency RateTerm SOFR by the  Administrative Agent shall be conclusive in the absence of manifest error.    (e) Anything in clauses (a) to (d) above to the contrary notwithstanding, after giving  effect to all Term Borrowings, all conversions of Term Loans from one Type to the other, and all  continuations of Term Loans as the same Type, there shall not be more than ten (10) Interest Periods in  effect at any time for all Borrowings of Eurocurrency RateTerm SOFR Loans.    (f) Unless the Administrative Agent shall have received notice from a Lender prior  to the date of any Borrowing, or, in the case of any Borrowing of Base Rate Loans, prior to 1:00 p.m.,  New York City time, on the date of such Borrowing, that such Lender will not make available to the  Administrative Agent such Lender’s Applicable Percentage of such Borrowing, the Administrative Agent  may assume that such Lender has made such Applicable Percentage available to the Administrative Agent  on the date of such Borrowing in accordance with clause (b) above, and the Administrative Agent may, in  reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If  the Administrative Agent shall have so made funds available, then, to the extent that such Lender shall  not have made such portion available to the Administrative Agent, each of such Lender and the Borrower  severally agrees to repay to the Administrative Agent forthwith on demand such corresponding amount  together with interest thereon, for each day from the date such amount is made available to the Borrower  until the date such amount is repaid to the Administrative Agent at (a) in the case of the Borrower, the  interest rate applicable at the time to the Loans comprising such Borrowing and (b) in the case of such  Lender, the greater of (x) the Federal Funds Rate and (y) a rate determined by the Administrative Agent  -67-  #95982248v17   in accordance with banking industry rules on interbank compensation, plus any administrative, processing  or similar fees customarily charged by the Administrative Agent in accordance with the foregoing. A  certificate of the Administrative Agent submitted to any Lender with respect to any amounts owing under  this Section 2.02(f) shall be conclusive in the absence of demonstrable error. If the Borrower and such  Lender shall both pay all or any portion of the principal amount in respect of such Borrowing or interest  to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall  promptly remit to the Borrower the amount of such Borrowing or interest paid by the Borrower for such  period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the  amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the  Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have  failed to make such payment to the Administrative Agent.    (g) With respect to SOFR or Term SOFR, the Administrative Agent will have the  right to make Conforming Changes from time to time and, notwithstanding anything to the contrary  herein or in any other Loan Document, any amendments implementing such Conforming Changes will  become effective without any further action or consent of any other party to this Agreement or any other  Loan Document; provided that, with respect to any such amendment effected, the Administrative Agent  shall post each such amendment implementing such Conforming Changes to the Borrower and the  Lenders reasonably promptly after such amendment becomes effective.    Section 2.03 [Reserved].    Section 2.04 [Reserved].    Section 2.05 Prepayments.    (a) Optional Prepayments. (i) The Borrower may, upon notice to the Administrative  Agent by the Borrower, at any time or from time to time voluntarily prepay any Borrowing of any Class  in whole or in part without premium or penalty (except as set forth in Section 2.05(a)(iv)); provided that  (1) such notice must be received by the Administrative Agent not later than 1:00 p.m., New York City  time (A) three (3) Business Days prior to any date of prepayment of Eurocurrency RateTerm SOFR  Loans and (B) one (1) Business Day prior to the date of prepayment of Base Rate Loans, (2) any  prepayment of Eurocurrency RateTerm SOFR Loans shall be in a principal amount of $1,000,000 or a  whole multiple of $100,000 in excess thereof or, in each case, the entire principal amount thereof then  outstanding and (3) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a  whole multiple of $100,000 in excess thereof or, in each case, the entire principal amount thereof then  outstanding. Each such notice shall specify the date and amount of such prepayment and the Class(es)  and Type(s) of Loans to be prepaid and, if Term SOFR Loans are to be prepaid, the Interest Period(s) of  such Loans. The Administrative Agent will promptly notify each Appropriate Lender of its receipt of  each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such  notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount  specified in such notice shall be due and payable on the date specified therein. Any prepayment of a  Eurocurrency RateTerm SOFR Loan shall be accompanied by all accrued interest thereon, together with  any additional amounts required pursuant to Section 3.04. Each prepayment of the Loans pursuant to this  Section 2.05(a) shall be applied to the installments thereof as directed by the Borrower (it being  understood and agreed that if the Borrower does not so direct at the time of such prepayment, such  prepayment shall be applied against the scheduled repayments of Term Loans of the relevant Class under  Section 2.07 in direct order of maturity) and shall be paid to the Appropriate Lenders in accordance with  their respective Applicable Percentages.      -68-  





 






#95982248v17   (ii) [Reserved].    (iii) Notwithstanding anything to the contrary contained in this Agreement, the  Borrower may rescind any notice of prepayment under Section 2.05(a) if such prepayment would  have resulted from a refinancing of all of the Facilities, which refinancing shall not be  consummated or shall otherwise be delayed.    (iv) In the event that the Borrower (x) makes any prepayment of Initial Term Loans  in connection with any Repricing Transaction or (y) effects any amendment of this Agreement  resulting in a Repricing Transaction with respect to Initial Term Loans, in each case prior to the  six (6) month anniversary of the Second Amendment Effective Date, the Borrower shall pay a  premium in an amount equal to 1.00% of (A) in the case of clause (x), the amount of the Initial  Term Loan being prepaid or (B) in the case of clause (y), the aggregate amount of the applicable  Initial Term Loans outstanding immediately prior to such amendment, in each case to the  Administrative Agent, for the ratable account of each of the Initial Term Lenders.    (b) Mandatory Prepayments.    (i) Commencing with the first full fiscal year of the Parents ending after the Closing  Date, within five (5) Business Days after financial statements have been delivered pursuant to  Section 6.01(a) and the related Compliance Certificate has been delivered pursuant to Section  6.02(a), the Borrower shall, if the Excess Cash Flow of the Parents, the Borrower and the  Restricted Subsidiaries is greater than the greater of (x) $5,000,00010,000,000 and (y) 5.00% of  Consolidated EBITDA, cause to be prepaid an aggregate principal amount of Term Loans (such  aggregate amount, the “Excess Cash Flow Prepayment Amount”) equal to (A) 50% (such  percentage as it may be reduced as described below, the “ECF Percentage”) of the amount equal  to Excess Cash Flow in excess of the greater of (x) $5,000,00010,000,000 and (y) 5.00% of  Consolidated EBITDA, if any, for the fiscal year covered by such financial statements  (commencing with the first full fiscal year ending after the Closing Date), minus (B) the sum of  (1) all voluntary prepayments (including pursuant to debt buybacks made by any Parent, the  Borrower or any Restricted Subsidiary in an amount equal to the amount actually paid in respect  thereof) of Term Loans during such fiscal year or after such fiscal year and prior to the making of  such Excess Cash Flow payment, (2) all voluntary prepayments of the ABL Facility or any other  revolving credit facility during such fiscal year or after such fiscal year and prior to the making of  such ECF payment to the extent the commitments under the ABL Facility or other revolving  credit facility, as applicable, are permanently reduced by the amount of such payments, (3)  without duplication of amounts deducted pursuant to clause (6) below, the amount of Capital  Expenditures or acquisitions made in cash during such period, except to the extent that such  Capital Expenditures or acquisitions were financed with the proceeds of an incurrence or issuance  of Indebtedness of the Parents, the Borrower or the Restricted Subsidiaries (other than revolving  loans), (4) without duplication of amounts deducted pursuant to clause (6) below, the amount of  Investments and Permitted Acquisitions made during such period pursuant to Section 7.02 (other  than Section 7.02(a), (d), (n) and (z)) except to the extent that such Investments and Permitted  Acquisitions were financed with the proceeds of an incurrence or issuance of Indebtedness of the  Parents, the Borrower or the Restricted Subsidiaries (other than revolving loans), (5) the amount  of Restricted Payments paid in cash during such period pursuant to Section 7.06 (other than  Section 7.06(a) (solely in respect of amounts paid to a Parent, the Borrower or a Restricted  Subsidiary), (b), (k) and (r)) except to the extent that such Restricted Payments were financed  with the proceeds of an incurrence or issuance of Indebtedness of the Parents, the Borrower or the  Restricted Subsidiaries (other than revolving loans) and (6) without duplication of amounts  deducted in prior periods, the aggregate consideration required to be paid in cash by any Parent,  -69-  #95982248v17   the Borrower or any Restricted Subsidiary pursuant to binding contracts (the “Contract  Consideration”) entered into prior to or during such period relating to Permitted Acquisitions,  Capital Expenditures or acquisitions to be consummated or made during the period of four  consecutive fiscal quarters of the Borrower following the end of such period except to the extent  intended to be financed with the proceeds of an incurrence or issuance of other Indebtedness of  the Parents, the Borrower or the Restricted Subsidiaries (other than revolving loans); provided  that to the extent the aggregate amount utilized to finance such Permitted Acquisitions, Capital  Expenditures or acquisitions during such period of four consecutive fiscal quarters is less than the  Contract Consideration, the amount of such shortfall, shall be added to the calculation of Excess  Cash Flow at the end of such period of four consecutive fiscal quarters) (any transaction referred  to in this clause (B), made following the fiscal year end but prior to the making of such  prepayment under this clause (b)(i), an “After Year-End Transaction”), except, in the case of each  of the immediately preceding clauses (1) and (2), to the extent such prepayments are funded with  the proceeds of Indebtedness (other than revolving loans) or any Cure Amounts; provided that (y)  the ECF Percentage shall be reduced to 25% if the First Lien Senior Secured Leverage Ratio for  the fiscal year (subject to the following proviso) covered by such financial statements was less  than 3.75:1.00 and greater than or equal to 3.25:1.00 and (z) the ECF Percentage shall be reduced  to 0% if the First Lien Senior Secured Leverage Ratio for the fiscal year (subject to the following  proviso) covered by such financial statements was less than 3.25:1.00; provided, further, (I) to the  extent so elected by the Borrower, following the making of any After Year-End Transaction, (i)  the First Lien Senior Secured Leverage Ratio shall be recalculated giving Pro Forma Effect to  such After Year-End Transaction as if payment was made during the fiscal year of the applicable  Excess Cash Flow prepayment and the ECF Percentage for purposes of making such Excess Cash  Flow prepayment shall be determined by reference to such recalculated First Lien Senior Secured  Leverage Ratio and (ii) such After Year-End Transaction shall not be applied to the calculation of  the First Lien Senior Secured Leverage Ratio in connection with the determination of the ECF  Percentage for purposes of any subsequent Excess Cash Flow prepayment and (II) to the extent  any reduction pursuant to clauses (1) or (2) above reduce the Excess Cash Flow Prepayment  Amount below the Excess Cash Flow Prepayment Threshold, such excess amounts for such fiscal  year shall, at the Borrower’s sole option, be carried over to any succeeding fiscal year and shall  reduce any Excess Cash Flow Prepayment Amount on a dollar for dollar basis for such fiscal  year.    (ii) (A) Subject to Section 2.05(b)(ii)(B), if following the Closing Date (x) any  Parent, the Borrower or any Restricted Subsidiary Disposes of any property or assets (other than  any Disposition of any property or assets permitted by Section 7.05(a), (b), (c), (d) (to the extent  constituting a Disposition to a Loan Party, by a Restricted Subsidiary that is not a Loan Party, or  pursuant to clause (iii) of the proviso thereto), (e), (f), (g), (j), (k), (n), (o), (p), (q), (r) and (s)), or  (y) any Casualty Event occurs, which in the aggregate results in the realization or receipt by any  Parent, the Borrower or any Restricted Subsidiary of Net Cash Proceeds, the Borrower shall make  a prepayment, in accordance with Section 2.05(b)(ii)(C), in an amount equal to an aggregate  principal amount of Term Loans equal to 100% (such percentage, the “Asset Percentage”) of all  such Net Cash Proceeds realized or received; provided that (1) no such prepayment shall be  required pursuant to this Section 2.05(b)(ii)(A) (I) with respect to such portion of such Net Cash  Proceeds that the Borrower shall have, on or prior to such date, given written notice to the  Administrative Agent of its intent to reinvest in accordance with Section 2.05(b)(ii)(B) or (II)  until the aggregate amount of Net Cash Proceeds not reinvested in accordance with Section  2.05(b)(ii)(B) within the time periods set forth therein and not previously applied to such a  prepayment exceeds $10,000,000 for any single Disposition or series of related Dispositions or  $20,000,000 in the aggregate during such fiscal year (and thereafter only amounts in excess of  such thresholds shall be required to be prepaid) and (2) if at the time that any such prepayment  -70-  





 






#95982248v17   would be required, any Parent, the Borrower or any of the Restricted Subsidiaries is required to  offer to repurchase or prepay any Indebtedness that is secured by a Lien ranking pari passu with  the Liens securing the Obligations pursuant to the terms of the documentation governing such  Indebtedness with the Net Cash Proceeds of such Disposition or Casualty Event (such  Indebtedness required to be offered to be so repurchased or prepaid, “Other Applicable  Indebtedness”), then the Borrower may apply such Net Cash Proceeds on a pro rata basis  (determined on the basis of the aggregate outstanding principal amount of the Term Loans and  Other Applicable Indebtedness at such time) to the prepayment of the Term Loans and to the  repurchase or prepayment of Other Applicable Indebtedness, and the amount of prepayment of  the Term Loans that would have otherwise been required pursuant to this Section 2.05(b)(ii)(A)  shall be reduced accordingly (provided that (a) the portion of such Net Cash Proceeds allocated to  the Other Applicable Indebtedness shall not exceed the amount of such Net Cash Proceeds  required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof, and  the remaining amount, if any, of such Net Cash Proceeds shall be allocated to the Term Loans in  accordance with the terms hereof and (b) to the extent the holders of Other Applicable  Indebtedness decline to have such indebtedness repurchased or prepaid, the declined amount shall  promptly (and in any event within five (5) Business Days after the date of such rejection) be  applied to prepay the Term Loans in accordance with the terms hereof; provided further that the  Asset Percentage shall be reduced to (i) 50% if the First Lien Senior Secured Leverage Ratio for  the most recently ended Test Period on a Pro Forma Basis is greater than or equal to 2.50:1.00 but  less than 3.00:1.00 or (ii) 0% if the First Lien Senior Secured Leverage Ratio for the most  recently ended Test Period on a Pro Forma Basis is less than 2.50:1.00.    (B) With respect to any Net Cash Proceeds realized or received with respect to any  Disposition (other than any Disposition specifically excluded from the application of Section  2.05(b)(ii)(A)) or any Casualty Event, at the option of the Borrower, the Borrower may reinvest  an amount equal to all or any portion of such Net Cash Proceeds in assets useful for its business  (other than working capital, except for short-term capital assets but including Permitted  Acquisitions and Capital Expenditures) within (x) eighteen (18) months following receipt of such  Net Cash Proceeds or (y) if the Borrower enters into a commitment to reinvest such Net Cash  Proceeds within eighteen (18) months following receipt thereof, one hundred eighty (180) days  after the eighteen (18) month period that follows receipt of such Net Cash Proceeds; provided that  if any Net Cash Proceeds are not so reinvested by the deadline specified in clause (x) or (y)  above, as applicable, or if any such Net Cash Proceeds are no longer intended to be or cannot be  so reinvested at any time after delivery of a notice of reinvestment election, an amount equal to  the Asset Percentage of any such Net Cash Proceeds shall be applied, in accordance with Section  2.05(b)(ii)(C), to the prepayment of the Term Loans as set forth in this Section 2.05.    (C) On each occasion that the Borrower must make a prepayment of the Term Loans  pursuant to this Section 2.05(b)(ii), the Borrower shall, within five (5) Business Days after the  date of realization or receipt of such Net Cash Proceeds in the minimum amount specified above  (or, in the case of prepayments required pursuant to Section 2.05(b)(ii)(B), within five (5)  Business Days of the deadline specified in clause (x) or (y) thereof, as applicable, or of the date  the Borrower reasonably determines that such Net Cash Proceeds are no longer intended to be or  cannot be so reinvested, as the case may be), make a prepayment, in accordance with Section  2.05(b)(vi) below, of the principal amount of Term Loans in an amount equal to the Asset  Percentage of such Net Cash Proceeds realized or received.    (iii) If, following the Closing Date, any Parent, the Borrower or any Restricted  Subsidiary incurs or issues any (A) Refinancing Term Loans, (B) Indebtedness pursuant to  Section 7.03(w) or (C) Indebtedness not expressly permitted to be incurred or issued pursuant to  -71-  #95982248v17   Section 7.03, the Borrower shall cause to be prepaid an aggregate principal amount of Term  Loans equal to 100% of all Net Cash Proceeds received therefrom on or prior to the date which is  five (5) Business Days after the receipt of such Net Cash Proceeds.    (iv) [reserved].    (v) Each prepayment of Term Loans pursuant to this Section 2.05(b) shall be applied  to the installments thereof in direct order of maturity pursuant to Section 2.07 following the  applicable prepayment event; provided that any mandatory prepayment pursuant to Section 2.05  shall be applied on a pro rata basis to the Term Loans and, except to the extent a lesser  prepayment is required pursuant to the applicable Incremental Facility Amendment or Extension  Offer with respect to any applicable Class of Incremental Term Loans or Extended Term Loans,  any Incremental Term Loans and Extended Term Loans. Each such prepayment shall be paid to  the Lenders in accordance with their respective Applicable Percentages subject to clause (vi) of  this Section 2.05(b).    (vi) The Borrower shall notify the Administrative Agent in writing of any mandatory  prepayment of Term Loans required to be made pursuant to clauses (i), (ii), and (iii) of this  Section 2.05(b) prior to 1:00 p.m. at least five (5) Business Days (or such lesser number of  Business Days as shall be acceptable to the Administrative Agent) on the date of such  prepayment. Each such notice shall specify the date of such prepayment and provide a  reasonably detailed calculation of the amount of such prepayment. The Administrative Agent  will promptly notify each Appropriate Lender of the contents of the Borrower’s prepayment  notice and of such Appropriate Lender’s Applicable Percentage of the prepayment. Each  Appropriate Lender may reject all of its Applicable Percentage of any mandatory prepayment  (such declined amounts, the “Declined Proceeds”) of Term Loans required to be made pursuant to  clauses (i) or (ii) of this Section 2.05(b) by providing written notice (each, a “Rejection Notice”)  to the Administrative Agent and the Borrower no later than 5:00 p.m. three (3) Business Days  after the date of such Lender’s receipt of notice from the Administrative Agent regarding such  prepayment. Each Rejection Notice from a given Lender shall specify the principal amount of the  mandatory prepayment of Term Loans to be rejected by such Lender. If a Lender fails to deliver  a Rejection Notice to the Administrative Agent within the time frame specified above or such  Rejection Notice fails to specify the principal amount of the Term Loans to be rejected, any such  failure will be deemed an acceptance of the total amount of such mandatory repayment of Term  Loans. Any Declined Proceeds shall be retained by the Borrower (“Retained Declined  Proceeds”).    (vii) [Reserved].    (viii) Notwithstanding any other provision of this Section 2.05(b), (i) to the extent that  any or all of the Net Cash Proceeds of any Disposition by a Restricted Subsidiary that is a  Foreign Subsidiary otherwise giving rise to a prepayment pursuant to Section 2.05(b)(ii) (a  “Restricted Disposition”), the Net Cash Proceeds of any Casualty Event of a Restricted  Subsidiary that is a Foreign Subsidiary (a “Restricted Casualty Event”), or Excess Cash Flow  attributable to a Foreign Subsidiary would be prohibited or delayed by applicable local law from  being distributed or otherwise transferred to the Borrower, the realization or receipt of the portion  of such Net Cash Proceeds or Excess Cash Flow so affected will not be taken into account in  measuring the Borrower’s obligation to repay Term Loans at the times provided in Section  2.05(b)(i), or the Borrower shall not be required to make a prepayment at the time provided in  Section 2.05(b)(ii), as the case may be, for so long, but only so long, as the applicable local law  will not permit such distribution or transfer (the Borrower hereby agreeing to cause the applicable  -72-  





 






#95982248v17   Restricted Subsidiary to promptly take all commercially reasonable actions available under the  applicable local law to permit such repatriation), and once distribution or transfer of any of such  affected Net Cash Proceeds or Excess Cash Flow is permitted under the applicable local law, the  amount of such Net Cash Proceeds or Excess Cash Flow permitted to be distributed or transferred  (net of additional taxes payable or reserved against as a result thereof) will be promptly (and in  any event not later than two (2) Business Days after such distribution or transfer is permitted)  taken into account in measuring the Borrower’s obligation to repay the Term Loans pursuant to  this Section 2.05(b) to the extent provided herein and (ii) to the extent that the Borrower has  determined in good faith (as set forth in a written notice delivered to the Administrative Agent)  that repatriation of any or all of the Net Cash Proceeds of any Restricted Disposition or any  Restricted Casualty Event or Excess Cash Flow attributable to a Foreign Subsidiary would have a  material adverse tax consequence (taking into account any foreign tax credit or benefit received in  connection with such repatriation), the amount of the Net Cash Proceeds or Excess Cash Flow so  affected shall not be taken into account in measuring the Borrower’s obligation to repay Term  Loans pursuant to this Section 2.05(b). For the avoidance of doubt, Net Cash Proceeds and  Excess Cash Flow (and related income) excluded from application under Section 2.05(b)(i) or (ii)  by operation of this Section 2.05(b)(viii) shall also be excluded in any determinations of  Restricted Payments permitted to be made pursuant to Section 7.06 (including, without limitation,  for purposes of clauses (b) and (f) of the definition of “Available Amount”).    (c) Interest, Funding Losses, Etc. All prepayments under this Section 2.05 shall be  accompanied by all accrued interest thereon, together with, in the case of any such prepayment of a  Eurocurrency RateTerm SOFR Loan on a date other than the last day of an Interest Period therefor, any  amounts owing in respect of such Eurocurrency RateTerm SOFR Loan pursuant to Section 3.04.    Notwithstanding any of the other provisions of this Section 2.05, so long as no Event of  Default shall have occurred and be continuing, if any prepayment of Eurocurrency RateTerm SOFR Loans  is required to be made under this Section 2.05, prior to the last day of the Interest Period therefor, in lieu of  making any payment pursuant to this Section 2.05 in respect of any such Eurocurrency RateTerm SOFR  Loan prior to the last day of the Interest Period therefor, the Borrowers may, in their sole discretion,  deposit with the Administrative Agent the amount of any such prepayment otherwise required to be made  hereunder until the last day of such Interest Period, at which time the Administrative Agent shall be  authorized (without any further action by or notice to or from the Borrowers or any other Loan Party) to  apply such amount to the prepayment of such Loans in accordance with this Section 2.05. Such deposit  shall constitute cash collateral for the Eurocurrency RateTerm SOFR Loans to be so prepaid, provided that  the Borrowers may at any time direct that such deposit be applied to make the applicable payment required  pursuant to this Section 2.05.    (d) Discounted Voluntary Prepayments.    (i) Notwithstanding anything to the contrary set forth in this Agreement (including  Section 2.13) or any other Loan Document, the Borrower shall have the right at any time and  from time to time to prepay one or more Classes of Term Loans to the Lenders at a discount to  the par value of such Loans and on a non pro rata basis (each, a “Discounted Voluntary  Prepayment”) pursuant to the procedures described in this Section 2.05(d), provided that (A) any  Discounted Voluntary Prepayment shall be offered to all Lenders of such Class on a pro rata  basis, (B) after giving effect to the Discounted Voluntary Prepayment, the aggregate Outstanding  Amount of all Term Loans that are held by Affiliated Lenders (other than Affiliated Debt Funds)  shall not exceed 25% of the aggregate Outstanding Amount of the Term Loans then outstanding  and (C) the Borrower shall deliver to the Administrative Agent, together with each Discounted  Prepayment Option Notice, a certificate of a Responsible Officer of the Borrower (1) stating that  -73-  #95982248v17   no Specified Event of Default (in each case, with respect to the Borrower and any Parent) has  occurred and is continuing or would result from the Discounted Voluntary Prepayment, (2)  stating that each of the conditions to such Discounted Voluntary Prepayment contained in this  Section 2.05(d) has been satisfied and (3) specifying the aggregate principal amount of Term  Loans of any Class offered to be prepaid pursuant to such Discounted Voluntary Prepayment.    (ii) To the extent the Borrower seeks to make a Discounted Voluntary Prepayment,  the Borrower will provide written notice to the Administrative Agent substantially in the form of  Exhibit I hereto (each, a “Discounted Prepayment Option Notice”) that the Borrower desires to  prepay Term Loans of one or more specified Classes in an aggregate principal amount specified  therein by the Borrower (each, a “Proposed Discounted Prepayment Amount”), in each case at a  discount to the par value of such Loans as specified below. The Proposed Discounted  Prepayment Amount of any Loans shall not be less than $10,000,000. The Discounted  Prepayment Option Notice shall further specify with respect to the proposed Discounted  Voluntary Prepayment (A) the Proposed Discounted Prepayment Amount for Loans to be  prepaid, (B) a discount range (which may be a single percentage) selected by the Borrower with  respect to such proposed Discounted Voluntary Prepayment equal to a percentage of par of the  principal amount of the Loans to be prepaid (the “Discount Range”), and (C) the date by which  Lenders are required to indicate their election to participate in such proposed Discounted  Voluntary Prepayment, which shall be at least five Business Days from and including the date of  the Discounted Prepayment Option Notice (the “Acceptance Date”).    (iii) Upon receipt of a Discounted Prepayment Option Notice, the Administrative  Agent shall promptly notify each applicable Lender thereof. On or prior to the Acceptance Date,  each such Lender may specify by written notice substantially in the form of Exhibit J hereto  (each, a “Lender Participation Notice”) to the Administrative Agent (A) a maximum discount to  par (the “Acceptable Discount”) within the Discount Range (for example, a Lender specifying a  discount to par of 20% would accept a purchase price of 80% of the par value of the Term Loans  to be prepaid) and (B) a maximum principal amount (subject to rounding requirements specified  by the Administrative Agent) of the Term Loans to be prepaid held by such Lender with respect  to which such Lender is willing to permit a Discounted Voluntary Prepayment at the Acceptable  Discount (“Offered Loans”). Based on the Acceptable Discounts and principal amounts of the  Term Loans to be prepaid specified by the Lenders in the applicable Lender Participation Notice,  the Administrative Agent, in consultation with the Borrower, shall determine the applicable  discount for such Term Loans to be prepaid (the “Applicable Discount”), which Applicable  Discount shall be (A) the percentage specified by the Borrower if the Borrower has selected a  single percentage pursuant to Section 2.05(d)(ii) for the Discounted Voluntary Prepayment or (B)  otherwise, the highest Acceptable Discount at which the Borrower can pay the Proposed  Discounted Prepayment Amount in full (determined by adding the Outstanding Amount of  Offered Loans commencing with the Offered Loans with the highest Acceptable Discount);  provided, however, that in the event that such Proposed Discounted Prepayment Amount cannot  be repaid in full at any Acceptable Discount, the Applicable Discount shall be the lowest  Acceptable Discount specified by the Lenders that is within the Discount Range. The Applicable  Discount shall be applicable for all Lenders who have offered to participate in the Discounted  Voluntary Prepayment and have Qualifying Loans. Any Lender with outstanding Term Loans to  be prepaid whose Lender Participation Notice is not received by the Administrative Agent by the  Acceptance Date shall be deemed to have declined to accept a Discounted Voluntary Prepayment  of any of its Loans at any discount to their par value within the Applicable Discount.    (iv) The Borrower shall make a Discounted Voluntary Prepayment by prepaying  those Term Loans to be prepaid (or the respective portions thereof) offered by the Lenders  -74-  





 






#95982248v17   (“Qualifying Lenders”) that specify an Acceptable Discount that is equal to or greater than the  Applicable Discount (“Qualifying Loans”) at the Applicable Discount, provided that if the  aggregate proceeds required to prepay all Qualifying Loans (disregarding any interest payable at  such time) would exceed the amount of aggregate proceeds required to prepay the Proposed  Discounted Prepayment Amount, such amounts in each case calculated by applying the  Applicable Discount, the Borrower shall prepay such Qualifying Loans ratably among the  Qualifying Lenders based on their respective principal amounts of such Qualifying Loans  (subject to rounding requirements specified by the Administrative Agent). If the aggregate  proceeds required to prepay all Qualifying Loans (disregarding any interest payable at such time)  would be less than the amount of aggregate proceeds required to prepay the Proposed Discounted  Prepayment Amount, such amounts in each case calculated by applying the Applicable Discount,  the Borrower shall prepay all Qualifying Loans.    (v) Each Discounted Voluntary Prepayment shall be made within five (5) Business  Days of the Acceptance Date (or such later date as the Administrative Agent shall reasonably  agree, given the time required to calculate the Applicable Discount and determine the amount and  holders of Qualifying Loans), without premium or penalty (but subject to Section 3.04), upon  irrevocable notice substantially in the form of Exhibit K hereto (each a “Discounted Voluntary  Prepayment Notice”), delivered to the Administrative Agent no later than 1:00 p.m., New York  City time, three (3) Business Days prior to the date of such Discounted Voluntary Prepayment,  which notice shall specify the date and amount of the Discounted Voluntary Prepayment and the  Applicable Discount determined by the Administrative Agent. Upon receipt of any Discounted  Voluntary Prepayment Notice, the Administrative Agent shall promptly notify each relevant  Lender thereof. If any Discounted Voluntary Prepayment Notice is given, the amount specified  in such notice shall be due and payable to the applicable Lenders, subject to the Applicable  Discount on the applicable Loans, on the date specified therein together with accrued interest (on  the par principal amount) to but not including such date on the amount prepaid. The par principal  amount of each Discounted Voluntary Prepayment of a Term Loan shall be applied ratably to  reduce the remaining installments of such Class of Term Loans (as applicable).    (vi) To the extent not expressly provided for herein, each Discounted Voluntary  Prepayment shall be consummated pursuant to procedures (including as to timing, rounding,  minimum amounts, Type and Interest Periods and calculation of Applicable Discount in  accordance with Section 2.05(d)(ii) above) established by the Administrative Agent and the  Borrower, each acting reasonably.    (vii) Prior to the delivery of a Discounted Voluntary Prepayment Notice, (A) upon  written notice to the Administrative Agent, the Borrower may withdraw or modify its offer to  make a Discounted Voluntary Prepayment pursuant to any Discounted Prepayment Option Notice  and (B) no Lender may withdraw its offer to participate in a Discounted Voluntary Prepayment  pursuant to any Lender Participation Notice unless the terms of such proposed Discounted  Voluntary Prepayment have been modified by the Borrower after the date of such Lender  Participation Notice.    (viii) Nothing in this Section 2.05(d) shall require the Borrower to undertake any  Discounted Voluntary Prepayment.    Section 2.06 Termination or Reduction of Term Commitments.    (a) Optional. The Borrower may, upon written notice to the Administrative Agent,  terminate the unused Term Commitments of any Class, or from time to time permanently reduce the  -75-  #95982248v17   unused Term Commitments of any Class; provided that (i) any such notice shall be received by the  Administrative Agent three (3) Business Days prior to the date of termination or reduction and (ii) any  such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of  $1,000,000 in excess thereof. Notwithstanding the foregoing, the Borrower may rescind or postpone any  notice of termination of the Term Commitments if such termination would have resulted from a  refinancing of all of the Facilities, which refinancing shall not be consummated or otherwise shall be  delayed.    (b) Mandatory. The Initial Term Commitment of each Initial Term Lender shall be  automatically and permanently reduced to $0 upon the making of such Initial Term Lender’s Initial Term  Loans pursuant to Section 2.01 on the Closing Date. The applicable 2021 Refinancing Term  Commitment and 2021 Incremental Term Commitment of each Additional Lender party to Amendment  No. 2 shall be automatically and permanently reduced to $0 upon the making of such Additional Lender’s  Term Loans pursuant to Section 2.01. The 2021-2 Incremental Term Commitment of each 2021-2  Incremental Term Lender party to Amendment No. 3 shall be automatically and permanently reduced to  $0 upon the making of such 2021-2 Incremental Term Lender’s Term Loans pursuant to Section 2.01 on  the Third Amendment Effective Date    (c) Application of Commitment Reductions; Payment of Fees. The Administrative  Agent will promptly notify the Lenders of any termination or reduction of unused Commitments of any  Class under this Section 2.06.    Section 2.07 Repayment of Loans. The Borrower shall repay to the Administrative  Agent for the ratable account of the Initial Term Lenders holding Initial Term Loans in Dollars (i) prior to  the Third Amendment Effective Date, on the last Business Day of each March, June, September and  December, commencing with the first such date to occur after the Second Amendment Effective Date, an  aggregate principal amount equal to 0.25% of the aggregate principal amount of the 2021 New Term  Loans funded on the Second Amendment Effective Date (ii) commencing on and after the Third  Amendment Effective Date, on the last Business Day of each March, June, September and December,  commencing with the first such date to occur after the Third Amendment Effective Date, an aggregate  principal amount equal to $1,987,696.92 and (iii) on the Maturity Date, the aggregate principal amount of  all 2021 New Term Loans, 2021-2 Incremental Term Loans and any other Term Loans outstanding on  such date; provided that payments required by clause (i) above shall be reduced as a result of the  application of prepayments in accordance with Section 2.05. In the event any Incremental Term Loans or  Extended Term Loans are made, such Incremental Term Loans or Extended Term Loans, as applicable,  shall be repaid by the Borrower in the amounts and on the dates set forth in the definitive documentation  with respect thereto and on the applicable Maturity Date thereof.    Section 2.08 Interest.    (a) Subject to the provisions of Section 2.08(b), (i) each Eurocurrency RateTerm  SOFR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a  rate per annum equal to the Eurocurrency RateTerm SOFR for such Interest Period plus the Applicable  Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from  the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.    (b) The Borrower shall pay interest on past due amounts under this Agreement at a  fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by  applicable Laws.  Accrued and unpaid interest on past due amounts (including interest on past due      -76-  





 






#95982248v17   interest) shall be due and payable upon demand to the fullest extent permitted by and subject to applicable  Laws, including in relation to any required additional agreements.    (c) Interest on each Loan shall be due and payable in arrears on each Interest  Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder  shall be due and payable in accordance with the terms hereof before and after judgment, and before and  after the commencement of any proceeding under any Debtor Relief Law.    Section 2.09 Fees. The Borrower shall pay to the Agents such fees as shall have  been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be  fully earned when paid and shall not be refundable for any reason whatsoever (except as expressly agreed  between the Borrower and the applicable Agent).    Section 2.10 Computation of Interest and Fees. All computations of interest for  Base Rate Loans when the Base Rate is determined by the “corporate base rate” shall be made on the  basis of a year of three hundred sixty five (365) days or three hundred sixty six (366) days, as the case  may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of  a three hundred sixty (360) day year and actual days elapsed. Interest shall accrue on each Loan for the  day on which such Loan is made, and shall not accrue on such Loan, or any portion thereof, for the day  on which such Loan or such portion is paid; provided that any such Loan that is repaid on the same day  on which it is made shall, subject to Section 2.12(a), bear interest for one (1) day. Each determination by  the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all  purposes, absent manifest error.    Section 2.11 Evidence of Indebtedness.    (a) The Credit Extensions made by each Lender shall be evidenced by one or more  accounts or records maintained by such Lender and by one or more entries in the Register. Any failure to  so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the  Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any  conflict between the accounts and records maintained by any Lender and the Register, the Register shall  be conclusive in the absence of demonstrable error. Upon the request of any Lender made through the  Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative  Agent) a Term Note payable to such Lender or its registered assigns, which shall evidence such Lender’s  Loans in addition to such accounts or records. Each Lender may attach schedules to its Term Note and  endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with  respect thereto.    Section 2.12 Payments Generally.    (a) All payments to be made by the Borrower shall be made without condition or  deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided  herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the  account of the respective Lenders to which such payment is owed, at the applicable Administrative  Agent’s Office in Dollars and in Immediately Available Funds not later than 3:00 p.m. on the date  specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable  Percentage (or other applicable share as provided herein) of such payment in like funds as received by  wire transfer to such Lender’s Applicable Lending Office. All payments received by the Administrative  Agent after 3:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable  interest or fee shall continue to accrue.    -77-  #95982248v17   (b) Except as set forth in the definition of “Interest Period”, if any payment to be  made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the  next following Business Day, and such extension of time shall be reflected in computing interest or fees,  as the case may be.    (c) Unless the Borrower or any Lender has notified the Administrative Agent, prior  to the date any payment is required to be made by it to the Administrative Agent hereunder, that the  Borrower or such Lender, as the case may be, will not make such payment, the Administrative Agent may  assume that the Borrower or such Lender, as the case may be, has timely made such payment and may  (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person  entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent  in immediately available funds, then:    (i) if the Borrower failed to make such payment, then the applicable Lender agrees  to pay to the Administrative Agent forthwith on demand the portion of such assumed payment  that was made available to such Lender in immediately available funds, together with interest  thereon in respect of each day from and including the date such amount was made available by  the Administrative Agent to such Lender to the date such amount is repaid to the Administrative  Agent in immediately available funds at the greater of the Federal Funds Rate and a rate  determined by the Administrative Agent in accordance with banking industry rules on interbank  compensation, it being understood that nothing herein shall be deemed to relieve any Lender from  its obligation to fulfill its Term Commitment or to prejudice any rights which the Administrative  Agent or the Borrower may have against any Lender as a result of any default by such Lender  hereunder; and    (ii) if any Lender failed to make such payment, such Lender shall forthwith on  demand pay to the Administrative Agent the amount thereof in immediately available funds,  together with interest thereon for the period from the date such amount was made available by the  Administrative Agent to the Borrower to the date such amount is recovered by the Administrative  Agent (the “Compensation Period”) at the greater of the Federal Funds Rate and a rate determined  by the Administrative Agent in accordance with banking industry rules on interbank  compensation. When such Lender makes payment to the Administrative Agent (together with all  accrued interest thereon), then such payment amount (excluding the amount of any interest which  may have accrued and been paid in respect of such late payment) shall constitute such Lender’s  Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith  upon the Administrative Agent’s demand therefor, the Administrative Agent may make a demand  therefor upon the Borrower, and the Borrower shall pay such amount to the Administrative  Agent, together with interest thereon for the Compensation Period at the interest rate applicable to  such Loan. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its  Term Commitment or to prejudice any rights which the Administrative Agent or the Borrower  may have against any Lender as a result of any default by such Lender hereunder.    A notice of the Administrative Agent to any Lender or the Borrower with respect to any  amount owing under this Section 2.12(c) shall be conclusive, absent demonstrable error.    (d) If any Lender makes available to the Administrative Agent funds for any Loan to  be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not  made available to the Borrower by the Administrative Agent because the conditions to the applicable  Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof,      -78-  





 






#95982248v17   the Administrative Agent shall return such funds (in like funds as received from such Lender) to such  Lender, without interest.    (e) The obligations of the Lenders hereunder to make Loans are several and not  joint. The failure of any Lender to make any Loan or to fund any such participation on any date required  hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no  Lender shall be responsible for the failure of any other Lender to so make its Loan or purchase its  participation.    (f) Nothing herein shall be deemed to obligate any Lender to obtain the funds for  any Loan in any particular place or manner or to constitute a representation by any Lender that it has  obtained or will obtain the funds for any Loan in any particular place or manner.    (g) Whenever any payment received by the Administrative Agent under this  Agreement or any of the other Loan Documents is insufficient to pay in full all amounts due and payable  to the Administrative Agent and the Lenders under or in respect of this Agreement and the other Loan  Documents on any date, such payment shall be distributed by the Administrative Agent and applied by  the Administrative Agent and the Lenders in the order of priority set forth in Section 8.04. If the  Administrative Agent receives funds for application to the Obligations of the Loan Parties under or in  respect of the Loan Documents under circumstances for which the Loan Documents do not specify the  manner in which such funds are to be applied, the Administrative Agent may, but shall not be obligated  to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s Applicable  Percentage of the Outstanding Amount of all Loans outstanding at such time, in repayment or prepayment  of such of the outstanding Loans or other Obligations then owing to such Lender.    Section 2.13 Sharing of Payments. If, other than as expressly provided elsewhere  herein, any Lender shall obtain on account of the Loans made by it any payment (whether voluntary,  involuntary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or  other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative  Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans made by  them as shall be necessary to cause such purchasing Lender to share the excess payment in respect of such  Loans or such participations, as the case may be, pro rata with each of them; provided that (x) if all or any  portion of such excess payment is thereafter recovered from the purchasing Lender under any of the  circumstances described in Section 10.06 (including pursuant to any settlement entered into by the  purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender  shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal to  such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s  required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or  other amount paid or payable by the purchasing Lender in respect of the total amount so recovered,  without further interest thereon, (y) the provisions of this Section 2.13 shall not be construed to apply to  any payment made by the Borrower pursuant to and in accordance with the express terms of this  Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a  participation in any of its Loans to any assignee or participant and (z) the provisions of this Section 2.13  shall not be construed to apply to any disproportionate payment obtained by a Lender of any Class as a  result of the extension by Lenders of the maturity date or expiration date of some but not all Loans or  Term Commitments of that Class or any increase in the Applicable Rate (or other pricing term, including  any fee, discount or premium) in respect of Loans or Term Commitments of Lenders that have consented  to any such extension to the extent such transaction is permitted hereunder. The Borrower agree that any  Lender so purchasing a participation from another Lender may, to the fullest extent permitted by  applicable Law, exercise all its rights of payment (including the right of setoff, but subject to Section  10.09) with respect to such participation as fully as if such Lender were the direct creditor of the  -79-  #95982248v17   Borrower in the amount of such participation. The Administrative Agent will keep records (which shall  be conclusive and binding in the absence of demonstrable error) of participations purchased under this  Section 2.13 and will in each case notify the Lenders following any such purchases or repayments. Each  Lender that purchases a participation pursuant to this Section 2.13 shall from and after such purchase  have the right to give all notices, requests, demands, directions and other communications under this  Agreement with respect to the portion of the Obligations purchased to the same extent as though the  purchasing Lender were the original owner of the Obligations purchased.    Section 2.14 Incremental Credit Extensions.    (a) At any time and from time to time, subject to the terms and conditions set forth  herein, the Borrower may, by notice to the Administrative Agent (whereupon the Administrative Agent  shall promptly deliver a copy to each of the Lenders), request to increase the amount of Term Loans or  add one or more additional tranches of term loans (any such Term Loans or additional tranche of term  loans, the “Incremental Term Loans” or the “Incremental Facilities”). Notwithstanding anything to  contrary herein, the aggregate principal amount of all Incremental Facilities (other than Refinancing Term  Loans) (determined at the time of incurrence), together with the aggregate principal amount of all  Permitted Alternative Incremental Facilities Debt, shall not exceed the sum of (i) the Unrestricted  Incremental First Lien Amount plus (ii) the amount of any voluntary prepayments, repurchases,  redemptions or other retirements of the Term Loans effected after the Closing Date (including pursuant to  debt buy-backs made by any Parent, the Borrower or any Restricted Subsidiary pursuant to “Dutch  Auction” procedures and open market purchases permitted hereunder, in an amount equal to the  discounted amount actually paid in respect thereof, but excluding (A) any prepayment of Term Loans  with the proceeds of substantially concurrent borrowings of new Loans hereunder and (B) prepayments  with the proceeds of substantially concurrent incurrence of other long term Indebtedness (other than  borrowings under the ABL Facility or other revolving indebtedness)) (this clause (ii), the “Voluntary  Prepayment Amount”) plus (iii) unlimited additional Incremental Facilities and Permitted Alternative  Incremental Facilities Debt so long as, after giving Pro Forma Effect thereto and after giving effect to any  Permitted Acquisition consummated in connection therewith and all other appropriate Pro Forma  Adjustments (but excluding the cash proceeds of any such Incremental Term Loans), the First Lien Senior  Secured Leverage Ratio for the most recently ended Test Period shall not exceed 4.00:1.00 (or, to the  extent such Incremental Term Loans are incurred in connection with any Permitted Acquisition or similar  Investment not prohibited by the Loan Documents, the First Lien Senior Secured Leverage Ratio for the  most recently ended Test Period does not exceed the greater of 4.00:1.00 and the First Lien Senior  Secured Leverage Ratio immediately prior to such Permitted Acquisition or permitted Investment) (other  than (x) amounts incurred concurrently with the incurrence of Indebtedness incurred in reliance on the  Unrestricted Incremental First Lien Amount and/or the Voluntary Prepayment Amount and (y) amounts  incurred concurrently or substantially concurrently with the incurrence of Indebtedness pursuant to  drawings under the ABL Facility, in which case the First Lien Senior Secured Leverage Ratio may exceed  4.00:1.00, as a result of the incurrence of such amounts, and it being understood that Incremental  Facilities may be incurred pursuant to this clause (iii) prior to utilization of the Unrestricted Incremental  First Lien Amount and the Voluntary Prepayment Amount) (this clause (iii), the “Incremental Incurrence  Test”). Each Incremental Facility shall be in an integral multiple of $1,000,000 and be in an aggregate  principal amount that is not less than $5,000,000, provided that such amount may be less than the  applicable minimum amount if such amount represents all the remaining availability hereunder as set  forth above. Each Incremental Facility shall have the same guarantees as, and be secured on a pari passu  basis by the same Collateral securing, all of the other Obligations hereunder.    (b) Any Incremental Term Loans (other than Refinancing Term Loans) (i) for  purposes of prepayments, shall be treated substantially the same as (and in any event no more favorably  than) the Initial Term Loans, (ii) shall have interest rate margins and (subject to clauses (iii) and (iv))  -80-  





 






#95982248v17   amortization schedule as determined by the Borrower and the lenders thereunder (provided that in the  case of any Incremental Term Loans (or, as applicable, Permitted Alternative Incremental Facilities or  Indebtedness permitted pursuant to Section 7.03(r)) incurred within one year after the Second  Amendment Effective Date, (A) in an aggregate principal amount, together with any Permitted  Alternative Incremental Facilities and Indebtedness permitted pursuant to Section 7.03(r), in excess of the  greater of (I) $202,000,000212,500,000 and (II) 100% of Consolidated EBITDA as of the most recent  Test Period, (B) scheduled to mature prior to the date that is one (1) year after the Maturity Date  applicable to the Initial Term Loans, (C) not incurred to finance a Permitted Acquisition or other similar  Investment and (D) not constituting loans under any Qualifying Bridge Facility (any such Term Loans  incurred within one year after the Second Amendment Effective Date and meeting the criteria of clauses  (A) through (D) and the following proviso, “Qualifying Term Loans”), if the Effective Yield of such  Incremental Term Loans incurred after the Closing Date exceeds the Effective Yield of the Initial Term  Loans immediately prior to the effectiveness of the applicable Incremental Facility Amendment by more  than 0.50% per annum, the Applicable Rate and/or, as set forth below, the interest rate floor relating to  the Initial Term Loans shall be adjusted such that the Effective Yield of the Initial Term Loans is equal to  the Effective Yield of such Incremental Term Loans minus 0.50% per annum (the foregoing, collectively,  the “MFN Adjustment”); provided, further, that any increase in Effective Yield with respect to the Initial  Term Loans due to the application of an interest rate floor to any Incremental Term Loan greater than the  interest rate floor applicable to the Initial Term Loans shall be effected solely through an increase in the  interest rate floor applicable to the Initial Term Loans), (iii) other than with respect to any Inside Maturity  Debt, any Incremental Term Loan shall not have a final maturity date earlier than the Maturity Date  applicable to the Initial Term Loans, (iv) other than with respect to any Inside Maturity Debt, any  Incremental Term Loan shall not have a Weighted Average Life to Maturity that is shorter than the  Weighted Average Life to Maturity of the Initial Term Loans and (v) except to the extent otherwise  permitted by this Section 2.14, shall have the same terms and conditions as the Initial Term Loans (other  than any terms and conditions that (x) apply only to periods after the then Latest Maturity Date with  respect to the Term Loans, (y) are otherwise added for the benefit of the Term Lenders hereunder or (z)  are otherwise reasonably satisfactory to the Administrative Agent).    (c) [Reserved].    (d) Each notice from the Borrower pursuant to this Section 2.14 shall set forth the  requested amount and proposed terms of the relevant Incremental Term Loans. Any additional bank,  financial institution, existing Lender or other Person that elects to extend Incremental Term Loans shall  be reasonably satisfactory to the Borrower and the Administrative Agent (any such bank, financial  institution, existing Lender or other Person being called an “Additional Lender”) and, if not already a  Lender, shall become a Lender under this Agreement pursuant to an amendment (an “Incremental Facility  Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Parents,  the Borrower, such Additional Lender, the Administrative Agent. No Lender shall be obligated to  provide any Incremental Term Loans, unless it so agrees. Term Commitments in respect of any  Incremental Term Loans shall become Term Commitments under this Agreement. An Incremental  Facility Amendment may, without the consent of any other Lenders, effect such amendments to any Loan  Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the  provisions of this Section 2.14. Any Incremental Facility Amendment shall be pursuant to documentation  to be mutually agreed.    (e) The effectiveness of any Incremental Facility Amendment shall, unless otherwise  agreed to by the Administrative Agent and the Additional Lenders, be subject to the satisfaction on the  date thereof (each, an “Incremental Facility Closing Date”) of each of the conditions set forth in Section  4.02 (it being understood that (i) the representations and warranties of each Loan Party set forth in  Section 4.02 being true and correct in all material respect (although any representations and warranties  -81-  #95982248v17   which expressly relate to a given date or period shall be true and correct in all material respects as of the  respective date or for the respective period, as the case may be) and all references to “such date of such  Credit Extension” shall be deemed to refer to the Incremental Facility Closing Date) and (ii) subject to  Section 1.09, no Default or Event of Default shall exist, or would result from such issuance of the  proceeds of such Incremental Facility; provided in the case of Incremental Facilities the proceeds of  which will be used to finance a Limited Condition Transaction, (1) the only representations and  warranties that will be required to be true and correct in all material respects as of the applicable  Incremental Facility Closing Date shall be the Specified Representations and (2) no Specified Events of  Default shall be continuing at the time such Limited Condition Transaction is consummated. The  proceeds of any Incremental Term Loans will be used only for general corporate purposes (including  (without limitation) Permitted Acquisitions).    (f) Any portion of any Incremental Facility incurred other than under the  Incremental Incurrence Test may be reclassified at any time, as the Borrower may elect from time to time,  as incurred under the Incremental Incurrence Test if the Parents and the Borrower meet the applicable  ratio under the Incremental Incurrence Test at such time on a Pro Forma Basis at any time subsequent to  the incurrence of such Incremental Facility (or would have met such ratio, in which case, such  reclassification shall be deemed to have automatically occurred if not elected by the Borrower).    Section 2.15 Extensions of Term Loans.    (a) Notwithstanding anything to the contrary in this Agreement, pursuant to one or  more offers (each, an “Extension Offer”) made from time to time by the Borrower to all Lenders of any  Class of Term Loans, in each case on a pro rata basis (based on the aggregate outstanding principal  amount of the respective Term Loans of the applicable Class) and on the same terms to each such Lender,  the Borrower is hereby permitted to consummate from time to time transactions with individual Lenders  that accept the terms contained in such Extension Offers to extend the maturity date of each such  Lender’s Term Loans of the applicable Class and otherwise modify the terms of such Term Loans  pursuant to the terms of the relevant Extension Offer (including, without limitation, by increasing the  interest rate or fees payable in respect of such Term Loans (and related outstandings) and/or modifying  the amortization schedule in respect of such Lender’s Term Loans, and which such extensions shall not be  subject to any “no default” requirement, pro forma compliance with any leverage ratio or other financial  tests or “most favored nations provisions”) (each, an “Extension,” and each group of Term Loans, as  applicable, in each case as so extended, as well as the original Term Loans (in each case not so extended),  being a separate Class of Term Loans from the Class of Term Loans from which they were converted, and  it being understood that an Extension may be in the form of an increase in the amount of any other  outstanding Class of Term Loans otherwise satisfying the criteria set forth below), so long as the  following terms are satisfied: (i) except as to interest rates, fees, amortization, final maturity date,  premium, required prepayment dates and participation in prepayments (which shall, subject to  immediately succeeding clauses (ii), (iii) and (iv), be determined between the Borrower and set forth in  the relevant Extension Offer), the Term Loans of any Term Lender that agrees to an extension with  respect to such Term Loans (an “Extending Lender”) extended pursuant to any Extension (“Extended  Term Loans”) shall have the same terms as the Class of Term Loans subject to such Extension Offer other  than with respect to covenants or other provisions applicable to periods after the Latest Maturity Date, (ii)  the final maturity date of any Extended Term Loans shall be no earlier than the then latest maturity date  hereunder and the amortization schedule applicable to Term Loans pursuant to Section 2.07 for periods  prior to the Maturity Date for Term Loans may not be increased, (iii) the Weighted Average Life to  Maturity of any Extended Term Loans shall be no shorter than the remaining Weighted Average Life to  Maturity of the Term Loans extended thereby, (iv) any Extended Term Loans may participate on a pro  rata basis or a less than pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory  repayments or prepayments hereunder, in each case as specified in the respective Extension Offer, (v) if  -82-  





 






#95982248v17   the aggregate principal amount of Term Loans (calculated on the face amount thereof), as the case may  be, in respect of which Term Lenders, as the case may be, shall have accepted the relevant Extension  Offer shall exceed the maximum aggregate principal amount of Term Loans, as the case may be, offered  to be extended by the Borrower pursuant to such Extension Offer, then the Term Loans, as the case may  be, of such Term Lenders, as the case may be, shall be extended ratably up to such maximum amount  based on the respective principal amounts (but not to exceed actual holdings of record) with respect to  which such Term Lenders, as the case may be, have accepted such Extension Offer, (vi) all  documentation in respect of such Extension shall be consistent with the foregoing, (vii) any applicable  Minimum Extension Condition shall be satisfied unless waived by the Borrower and (viii) the Minimum  Tranche Amount shall be satisfied unless waived by the Administrative Agent. No Lender shall be  obligated to extend its Term Loans unless it so agrees.    (b) With respect to all Extensions consummated by the Borrower pursuant to this  Section 2.15, (i) such Extensions shall not constitute voluntary or mandatory payments or prepayments  for purposes of Section 2.05 and (ii) no Extension Offer is required to be in any minimum amount or any  minimum increment, provided that (x) the Borrower may at its election specify as a condition (a  “Minimum Extension Condition”) to consummating any such Extension that a minimum amount (to be  determined and specified in the relevant Extension Offer in the Borrower’s sole discretion and may be  waived by the Borrower) of Term Loans (as applicable) of any or all applicable Classes be tendered and  (y) no Class of Extended Term Loans shall be in an amount of less than $10,000,000 (the “Minimum  Tranche Amount”), unless such Minimum Tranche Amount is waived by the Administrative Agent. The  Administrative Agent and the Lenders hereby consent to the transactions contemplated by this Section  2.15 (including, for the avoidance of doubt, payment of any interest, fees or premium in respect of any  Extended Term Loans on the such terms as may be set forth in the relevant Extension Offer) and hereby  waive the requirements of any provision of this Agreement (including, without limitation, Sections 2.05,  2.12 and 2.13) or any other Loan Document that may otherwise prohibit any such Extension or any other  transaction contemplated by this Section 2.15.    (c) No consent of any Lender or the Administrative Agent shall be required to  effectuate any Extension, other than the consent of each Lender agreeing to such Extension with respect  to one or more of its Term Loans; provided that any Lender that elects not to agree to such Extension  (such Lender being, a “Non-Extending Lender”) may be replaced by the Borrower pursuant to Section  3.06. All Extended Term Loans and all obligations in respect thereof shall be Obligations under this  Agreement and the other Loan Documents that are secured by the Collateral on a pari passu basis with all  other applicable Obligations under this Agreement and the other Loan Documents. The Lenders hereby  irrevocably authorize the Administrative Agent to enter into amendments to this Agreement and the other  Loan Documents with the Parents and the Borrower as may be necessary in order to establish new Classes  in respect of Term Loans so extended and such technical amendments as may be necessary or appropriate  in the reasonable opinion of the Administrative Agent and the Borrower in connection with the  establishment of such new Classes, in each case on terms consistent with this Section 2.15.    (d) In connection with any Extension, the Borrower shall provide the Administrative  Agent at least five (5) Business Days’ (or such shorter period as may be agreed by the Administrative  Agent) prior written notice thereof, and shall agree to such procedures (including, without limitation,  regarding timing, rounding and other adjustments and to ensure reasonable administrative management of  the credit facilities hereunder after such Extension), if any, as may be established by, or acceptable to, the  Administrative Agent, in each case acting reasonably to accomplish the purposes of this Section 2.15.          -83-  #95982248v17   Section 2.16 Defaulting Lenders. Notwithstanding any provision of this  Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions  shall apply for so long as such Lender is a Defaulting Lender:    (a) [Reserved];    (b) the Outstanding Amount of Term Loans of such Defaulting Lender shall not be  included in determining whether all Lenders or the Required Lenders have taken or may take any action  hereunder (including any consent to any amendment, waiver or other modification pursuant to Section  10.01); provided that (x) any waiver, amendment or modification of the type described in clause (a), (b)  or (c) of the first proviso in Section 10.01 that would apply to the Obligations owing to such Defaulting  Lender or (y) any waiver, amendment or modification (other than as described in the forgoing clause (x)  requiring the consent of all Lenders or each affected Lender) which affects such Defaulting Lender  disproportionally when compared to other affected Lenders, in each case, shall require the consent of such  Defaulting Lender with respect to the effectiveness of such waiver, amendment or modification with  respect to the Obligations owing to such Defaulting Lender;    (c) any payment of principal, interest, fees or other amounts received by the  Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at  maturity, pursuant to Article IX or otherwise), shall be applied at such time or times as may be  determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that  Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request (so long  as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting  Lender has failed to fund its portion thereof as required by this Agreement, as determined by the  Administrative Agent; third, to the payment of any amounts owing to the Lenders as a result of any  judgment of a court of competent jurisdiction obtained by any Lender against that Defaulting Lender as a  result of that Defaulting Lender’s breach of its obligations under this Agreement; fourth, so long as no  Default or Event of Default exists, to the payment of any amounts owing to any Loan Party as a result of  any judgment of a court of competent jurisdiction obtained by any Loan Party against that Defaulting  Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and fifth, to  that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that, if such  payment is a payment of the principal amount of any Loans, such payment shall be applied solely to pay  the relevant Loans of the relevant non-Defaulting Lenders on a pro rata basis prior to being applied in the  manner set forth in this clause (c).    Section 2.17 Permitted Debt Exchanges.    (a) Notwithstanding anything to the contrary contained in this Agreement, pursuant  to one or more offers (each, a “Permitted Debt Exchange Offer”) made from time to time by the Borrower  to all Lenders (other than, with respect to any Permitted Debt Exchange Offer that constitutes an offering  of securities, any Lender that, if requested by the Borrower, is unable to certify that it is (i) a “qualified  institutional buyer” (as defined in Rule 144A under the Securities Act), (ii) an institutional “accredited  investor” (as defined in Rule 501 under the Securities Act) or (iii) not a “U.S. person” (as defined in Rule  902 under the Securities Act)) with outstanding Term Loans of a particular Class, the Borrower may from  time to time consummate one or more exchanges of such Term Loans for Indebtedness (in the form of  senior secured, senior unsecured, senior subordinated, or subordinated notes or loans) (such Indebtedness,  “Permitted Debt Exchange Notes” and each such exchange, a “Permitted Debt Exchange”), so long as the  following conditions are satisfied:    (i) each such Permitted Debt Exchange Offer shall be made on a pro rata basis to the  Lenders (other than, with respect to any Permitted Debt Exchange Offer that constitutes an  -84-  





 






#95982248v17   offering of securities, any Lender that, if requested by the Borrower, is unable to certify that it is  (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act), (ii) an  institutional “accredited investor” (as defined in Rule 501 under the Securities Act) or (iii) not a  “U.S. person” (as defined in Rule 902 under the Securities Act)) of each applicable Class based  on their respective aggregate principal amounts of outstanding Term Loans under each such  Class;    (ii) the aggregate principal amount (calculated on the face amount thereof) of such  Permitted Debt Exchange Notes shall not exceed the aggregate principal amount (calculated on  the face amount thereof) of Term Loans so refinanced, except to the extent a different incurrence  basket pursuant Section 7.03 is utilized and with respect to an amount equal to any fees,  expenses, commissions, underwriting discounts and premiums payable in connection with such  Permitted Debt Exchange;    (iii) the stated final maturity of such Permitted Debt Exchange Notes is not earlier  than the latest Maturity Date for the Class or Classes of Term Loans being exchanged, and such  stated final maturity is not subject to any conditions that could result in such stated final maturity  occurring on a date that precedes such latest maturity date (it being understood that acceleration  or mandatory repayment, prepayment, redemption or repurchase of such Permitted Debt  Exchange Notes upon the occurrence of an event of default, a change in control, an event of loss  or an asset disposition shall not be deemed to constitute a change in the stated final maturity  thereof);    (iv) such Permitted Debt Exchange Notes are not required to be repaid, prepaid,  redeemed, repurchased or defeased, whether on one or more fixed dates, upon the occurrence of  one or more events or at the option of any holder thereof (except, in each case, upon the  occurrence of an event of default, a change in control, an event of loss or an asset disposition)  prior to the latest Maturity Date for the Class or Classes of Term Loans being exchanged,  provided that, notwithstanding the foregoing, scheduled amortization payments (however  denominated, including scheduled offers to repurchase) of such Permitted Debt Exchange Notes  shall be permitted so long as the Weighted Average Life to Maturity of such Indebtedness shall  be longer than the remaining Weighted Average Life to Maturity of the Class or Classes of Term  Loans being exchanged;    (v) no Restricted Subsidiary is a borrower or guarantor with respect to such  Indebtedness unless such Restricted Subsidiary is or substantially concurrently becomes a Loan  Party;    (vi) if such Permitted Debt Exchange Notes are secured, such Permitted Debt  Exchange Notes are secured on a pari passu basis or junior priority basis to the Obligations and  (A) such Permitted Debt Exchange Notes are not secured by any assets not securing the  Obligations unless such assets substantially concurrently secure the Obligations and (B) the  beneficiaries thereof (or an agent on their behalf) shall become party to the Applicable  Intercreditor Agreement;    (vii) the terms and conditions of such Permitted Debt Exchange Notes (excluding  pricing and optional prepayment or redemption terms or covenants or other provisions applicable  only to periods after the Maturity Date of the Class or Classes of Term Loans being exchanged)  reflect market terms and conditions at the time of incurrence or issuance; provided that if such  Permitted Debt Exchange Notes contain any financial maintenance covenants, such covenants  shall not be more restrictive than (or in addition to) those contained in this Agreement (unless  -85-  #95982248v17   such covenants are also added for the benefit of the Lenders under this Agreement, in which case  any requirement to so comply shall not require the consent of any Lender or Agent hereunder);    (viii) all Term Loans exchanged under each applicable Class by the Borrower pursuant  to any Permitted Debt Exchange shall automatically be canceled and retired by the Borrower on  date of the settlement thereof (and, if requested by the Administrative Agent, any applicable  exchanging Lender shall execute and deliver to the Administrative Agent an Assignment and  Assumption, or such other form as may be reasonably requested by the Administrative Agent, in  respect thereof pursuant to which the respective Lender assigns its interest in the Term Loans  being exchanged pursuant to the Permitted Debt Exchange to the Borrower for immediate  cancellation), and accrued and unpaid interest on such Term Loans shall be paid to the  exchanging Lenders on the date of consummation of such Permitted Debt Exchange, or, if agreed  to by the Borrower and the Administrative Agent, the next scheduled Interest Payment Date with  respect to such Term Loans (with such interest accruing until the date of consummation of such  Permitted Debt Exchange);    (ix) if the aggregate principal amount of all Term Loans (calculated on the face  amount thereof) of a given Class tendered by Lenders in respect of the relevant Permitted Debt  Exchange Offer (with no Lender being permitted to tender a principal amount of Term Loans  which exceeds the principal amount thereof of the applicable Class actually held by it) shall  exceed the maximum aggregate principal amount of Term Loans of such Class offered to be  exchanged by the Borrower pursuant to such Permitted Debt Exchange Offer, then the Borrower  shall exchange Term Loans under the relevant Class tendered by such Lenders ratably up to such  maximum based on the respective principal amounts so tendered, or, if such Permitted Debt  Exchange Offer shall have been made with respect to multiple Classes without specifying a  maximum aggregate principal amount offered to be exchanged for each Class, and the aggregate  principal amount of all Term Loans (calculated on the face amount thereof) of all Classes  tendered by Lenders in respect of the relevant Permitted Debt Exchange Offer (with no Lender  being permitted to tender a principal amount of Term Loans which exceeds the principal amount  thereof actually held by it) shall exceed the maximum aggregate principal amount of Term Loans  of all relevant Classes offered to be exchanged by the Borrower pursuant to such Permitted Debt  Exchange Offer, then the Borrower shall exchange Term Loans across all Classes subject to such  Permitted Debt Exchange Offer tendered by such Lenders ratably up to such maximum amount  based on the respective principal amounts so tendered;    (x) all documentation in respect of such Permitted Debt Exchange shall be consistent  with the foregoing, and all written communications generally directed to the Lenders in  connection therewith shall be in form and substance consistent with the foregoing and made in  consultation with the Borrower and the Administrative Agent; and    (xi) any applicable Minimum Tender Condition or Maximum Tender Condition, as  the case may be, shall be satisfied or waived by the Borrower.    Notwithstanding anything to the contrary herein, no Lender shall have any obligation to agree to have any  of its Loans or Term Commitments exchanged pursuant to any Permitted Debt Exchange Offer.    (b) With respect to all Permitted Debt Exchanges effected by the Borrower pursuant  to this Section 2.17, such Permitted Debt Exchange Offer shall be made for not less than $10,000,000 in  aggregate principal amount of Term Loans, provided that subject to the foregoing the Borrower may at its  election specify (A) as a condition (a “Minimum Tender Condition”) to consummating any such  Permitted Debt Exchange that a minimum amount (to be determined and specified in the relevant  -86-  





 






#95982248v17   Permitted Debt Exchange Offer in the Borrower’s discretion) of Term Loans of any or all applicable  Classes be tendered and/or (B) as a condition (a “Maximum Tender Condition”) to consummating any  such Permitted Debt Exchange that no more than a maximum amount (to be determined and specified in  the relevant Permitted Debt Exchange Offer in the Borrower’s discretion) of Term Loans of any or all  applicable Classes will be accepted for exchange. The Administrative Agent and the Lenders hereby  acknowledge and agree that the provisions of Sections 2.05, 2.06 and 2.13 do not apply to the Permitted  Debt Exchange and the other transactions contemplated by this Section 2.17 and hereby agree not to  assert any Default or Event of Default in connection with the implementation of any such Permitted Debt  Exchange or any other transaction contemplated by this Section 2.17.    (c) In connection with each Permitted Debt Exchange, the Borrower shall provide  the Administrative Agent at least five (5) Business Days’ (or such shorter period as may be agreed by the  Administrative Agent) prior written notice thereof, and the Borrower and the Administrative Agent,  acting reasonably, shall mutually agree to such procedures as may be necessary or advisable to  accomplish the purposes of this Section 2.17; provided that the terms of any Permitted Debt Exchange  Offer shall provide that the date by which the relevant Lenders are required to indicate their election to  participate in such Permitted Debt Exchange shall be not less than five (5) Business Days following the  date on which the Permitted Debt Exchange Offer is made. The Borrower shall provide the final results  of such Permitted Debt Exchange to the Administrative Agent no later than three (3) Business Days prior  to the proposed date of effectiveness for such Permitted Debt Exchange (or such shorter period agreed to  by the Administrative Agent in its sole discretion) and the Administrative Agent shall be entitled to  conclusively rely on such results.    (d) The Borrower shall be responsible for compliance with, and hereby agrees to  comply with, all applicable securities and other laws in connection with each Permitted Debt Exchange, it  being understood and agreed that (i) neither the Administrative Agent nor any Lender assumes any  responsibility in connection with the Borrower’s compliance with such laws in connection with any  Permitted Debt Exchange and (ii) each Lender shall be solely responsible for its compliance with any  applicable “insider trading” laws and regulations to which such Lender may be subject under the  Exchange Act.    ARTICLE III    Taxes, Increased Costs Protection and Illegality    Section 3.01 Taxes.    (a) Except as provided in this Section 3.01, any and all payments by the Borrower or  any Guarantor to or for the account of any Agent or any Lender under any Loan Document shall be made  free and clear of and without deduction for any Taxes unless required by applicable Law. If any  applicable withholding agent shall be required by any Laws to deduct any Taxes from or in respect of any  sum payable under any Loan Document to any Agent or any Lender, (i) if such Taxes are Indemnified  Taxes, the sum payable by the Borrower or applicable Guarantor shall be increased as necessary so that  after all required deductions have been made (including deductions applicable to additional sums payable  under this Section 3.01), each of such Agent and such Lender receives an amount equal to the sum it  would have received had no such deductions been made, (ii) such applicable withholding agent shall  make such deductions, (iii) such applicable withholding agent shall pay the full amount deducted to the  relevant taxation authority or other authority in accordance with applicable Laws, and (iv) within thirty  (30) days after the date of such payment by such applicable withholding agent (or, if receipts or evidence  are not available within thirty (30) days, as soon as possible thereafter), such applicable withholding  agent shall furnish to Borrower and such Agent or Lender (as the case may be) the original or a facsimile  -87-  #95982248v17   copy of a receipt evidencing payment thereof to the extent such a receipt is issued therefor, or other  written proof of payment thereof that is reasonably satisfactory to the Administrative Agent.    (b) In addition, but without duplication of any amounts payable pursuant to Section  3.01(a) or (c), the Borrower agrees to pay all Other Taxes.    (c) Without duplication of any amounts payable pursuant to Section 3.01(a) or  Section 3.01(b), the Borrower agrees to indemnify each Agent and each Lender for (i) the full amount of  Indemnified Taxes (including any Indemnified Taxes imposed or asserted by any jurisdiction in respect of  amounts payable under this Section 3.01) payable by such Agent and such Lender and (ii) any reasonable  expenses arising therefrom or with respect thereto, in each case whether or not such Indemnified Taxes  were correctly or legally imposed or asserted by the relevant Governmental Authority. Such Agent or  Lender, as the case may be, will, at the Borrower’s request, provide the Borrower with a written statement  thereof setting forth in reasonable detail the basis and calculation of such amounts which shall be  conclusive absent manifest error. Payment under this Section 3.01(c) shall be made within ten (10) days  after the date such Lender or such Agent makes a demand therefor. Notwithstanding anything to the  contrary contained in this Section 3.01(c), no Loan Party shall be required to indemnify any Agent or any  Lender pursuant to this Section 3.01(c) for any incremental interest, penalties or expenses resulting from  the failure of such Agent or Lender to notify the Loan Party of such possible indemnification claim within  180 days after such Agent or Lender receives written notice from the applicable taxing authority of the  specific tax assessment giving rise to such indemnification claim.    (d) If any Lender or Agent determines, in its reasonable discretion, that it has  received a refund in respect of any Indemnified Taxes as to which indemnification or additional amounts  have been paid to it by the Borrower or any Guarantor pursuant to this Section 3.01, it shall promptly  remit an amount equal to such refund as soon as practicable after it is determined that such refund pertains  to Indemnified Taxes (but only to the extent of indemnity payments made, or additional amounts paid, by  the Borrower or any Guarantor under this Section 3.01 with respect to the Indemnified Taxes giving rise  to such refund plus any interest included in such refund by the relevant taxing authority attributable  thereto) to the Borrower, net of all reasonable out-of-pocket expenses (including any Taxes) of the Lender  or Agent, as the case may be and without interest (other than any interest paid by the relevant taxing  authority with respect to such refund); provided that the Borrower, upon the request of the Lender or  Agent, as the case may be, agree promptly to return an amount equal to such refund (plus any applicable  interest, additions to tax or penalties) to such party in the event such party is required to repay such refund  to the relevant taxing authority. Such Lender or Agent, as the case may be, shall, at the Borrower’s  request, provide the Borrower with a copy of any notice of assessment or other evidence of the  requirement to repay such refund received from the relevant taxing authority (provided that such Lender  or Agent may delete any information therein that such Lender or Agent deems confidential). Nothing  herein contained shall interfere with the right of a Lender or Agent to arrange its Tax affairs in whatever  manner it thinks fit nor oblige any Lender or Agent to claim any Tax refund or to make available its Tax  returns or disclose any information relating to its Tax affairs or any computations in respect thereof or  require any Lender or Agent to do anything that would prejudice its ability to benefit from any other  refunds, credits, reliefs, remissions or repayments to which it may be entitled.    (e) Each Lender agrees that, upon the occurrence of any event giving rise to the  operation of Section 3.01(a) or (c) with respect to such Lender it will, if requested by the Borrower, use  commercially reasonable efforts (subject to legal and regulatory restrictions), at Borrower’s expense, to  designate another Applicable Lending Office for any Loan affected by such event; provided that such  efforts are made on terms that, in the judgment of such Lender, cause such Lender and its Applicable  Lending Office(s) to suffer no material economic, legal or regulatory disadvantage, and provided, further,    -88-  





 






#95982248v17   that nothing in this Section 3.01(e) shall affect or postpone any of the Obligations of the Borrower or the  rights of such Lender pursuant to Section 3.01(a) or (c).    (f) Each Lender shall, at such times as are reasonably requested by the Borrower or  the Administrative Agent, provide the Borrower and the Administrative Agent with any documentation  prescribed by law, or reasonably requested by the Borrower or the Administrative Agent, certifying as to  any entitlement of such Lender to an exemption from, or reduction in, any withholding Tax with respect  to any payments to be made to such Lender under any Loan Document. Each such Lender shall,  whenever a lapse in time or change in circumstances renders such documentation (including any  documentation specifically referenced below) expired, obsolete or inaccurate in any material respect,  deliver promptly to the Borrower and the Administrative Agent updated or other appropriate  documentation (including any new documentation reasonably requested by the applicable withholding  agent) or promptly notify the Borrower and the Administrative Agent in writing of its inability to do so.  Solely for purposes of this Section 3.01(f), the definition of “Lender” shall include the Administrative  Agent.    Without limiting the generality of the foregoing:    (i) Each Lender that is a “United States person” (as defined in Section 7701(a)(30)  of the Code) shall deliver to the Borrower and the Administrative Agent on or before the date on  which it becomes a party to this Agreement two properly completed and duly signed original  copies of Internal Revenue Service Form W-9 (or any successor form) certifying that such Lender  is exempt from U.S. federal backup withholding;    (ii) Each Lender that is not a “United States person” (as defined in Section  7701(a)(30) of the Code) shall deliver to the Borrower and the Administrative Agent on or before  the date on which it becomes a party to this Agreement (and from time to time thereafter when  required by Law or upon the reasonable request of the Borrower or the Administrative Agent)  whichever of the following is applicable:    (A) two duly completed copies of Internal Revenue Service Form W-8BEN or  W-8BEN-E, as applicable (or any successor forms) claiming eligibility for benefits of an income  tax treaty to which the United States is a party,    (B) two duly completed copies of Internal Revenue Service Form W-8ECI (or any  successor forms),    (C) in the case of a Lender claiming the benefits of the exemption for portfolio  interest under Section 881(c) or the Code, (x) a certificate, in substantially the form of Exhibit L  (any such certificate a “United States Tax Compliance Certificate”), or any other form approved  by the Administrative Agent, to the effect that such Lender is not (A) a “bank” within the  meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower  within the meaning of Section 881(c)(3)(B) of the Code or (C) a “controlled foreign corporation”  described in Section 881(c)(3)(C) of the Code, and (y) two duly completed copies of Internal  Revenue Service Form W-8BEN or W-8BEN-E, as applicable (or any successor forms),    (D) to the extent a Lender is not the beneficial owner (for example, where the Lender  is a partnership), Internal Revenue Service Form W-8IMY (or any successor forms) of the  Lender, accompanied by a Form W-8ECI, W-8BEN or W-8BEN-E, as applicable (or any  successor forms), United States Tax Compliance Certificate, Form W-9, Form W-8IMY (or other  successor forms) or any other required information from each beneficial owner, as applicable  -89-  #95982248v17   (provided that, if the Lender is a partnership and one or more direct or indirect partners are  claiming the portfolio interest exemption, the United States Tax Compliance Certificate may be  provided by such Lender on behalf of such direct or indirect partner(s)), or    (E) two duly completed copies of any other form prescribed by applicable U.S.  federal income tax laws (including the Treasury regulations) as a basis for claiming a complete  exemption from, or a reduction in, U.S. federal withholding Tax on any payments to such Lender  under the Loan Documents.    (iii) If a payment made to a Lender under any Loan Document would be subject to  U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the  applicable reporting requirements of FATCA (including those contained in Sections 1471(b) or  1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the  Administrative Agent at the time or times prescribed by law and at such time or times reasonably  requested by the Borrower or the Administrative Agent such documentation prescribed by  applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such  additional documentation reasonably requested by the Borrower or the Administrative Agent as  may be necessary for the Borrower and the Administrative Agent to comply with their FATCA  obligations, to determine whether such Lender has or has not complied with such Lender’s  FATCA obligations and to determine the amount, if any, to deduct and withhold from such  payment. Solely for purposes of this Section 3.01(f)(iii), “FATCA” shall include any  amendments made to FATCA after the Closing Date.    Notwithstanding any other provision of this clause (f), a Lender shall not be required to  deliver any form that such Lender is not legally eligible to deliver.    Each Lender hereby authorizes the Administrative Agent to deliver to the Loan Parties  and to any successor Administrative Agent any documentation provided by such Lender to the  Administrative Agent pursuant to this Section 3.01(f).    Section 3.02 Inability to Determine Rates.    . Other than as set forth in Section 1.10, if(a)  If in connection with any request for a  Term SOFR Loan or a conversion of Base Rate Loans to Term SOFR Loans or a continuation of any of  such Loans, as applicable, (i) the Administrative Agent determines (which determination shall be  conclusive absent manifest error) that (A) no Successor Rate has been determined in accordance with  Section 3.02(b), and the circumstances under clause (i) of Section 3.02(b) or the Scheduled Unavailability  Date has occurred, or (B) adequate and reasonable means do not otherwise exist for determining Term  SOFR for any requested Interest Period with respect to a proposed Term SOFR Loan or in connection  with an existing or proposed Base Rate Loan, or (ii) the Administrative Agent or the Required Lenders  determine that for any reason adequate and reasonable means do not exist for determining the  Eurocurrency Ratethat Term SOFR for any requested Interest Period with respect to a proposed  Eurocurrency Rate Loan denominated in any currency, or the Required Lenders (excluding for all  purposes of this Section 3.02 only, the portion of the Total Outstandings that are not available for Loans  in such currency) determine that the Eurocurrency Rate for any Interest Period with respect to such  proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of  funding such Loan, or that deposits in the currency of such Eurocurrency Rate Loan are not being offered  to banks in the applicable London or other relevant interbank market for the applicable amount and the  Interest Period of such Eurocurrency Rate Loan, the Administrative Agent will promptly so notify the  Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurocurrency    -90-  





 






#95982248v17   Rate Loans in such currency shall be suspended until the Administrative Agent (upon the instruction of  the Required Lenders) revokes such notice.    Thereafter, (x) the obligation of the Lenders to make or maintain Term SOFR Loans, or  to convert Base Rate Loans to Term SOFR Loans, shall be suspended (to the extent of the affected Term  SOFR Loans or Interest Periods), and (y) in the event of a determination described in the preceding  sentence with respect to the Term SOFR component of the Base Rate, the utilization of the Term SOFR  component in determining the Base Rate shall be suspended, in each case until the Administrative Agent  (or, in the case of a determination by the Required Lenders described in clause (ii) of this Section 3.02(a),  until the Administrative Agent upon instruction of the Required Lenders) revokes such notice.    Upon receipt of such notice, (i) the Borrower may revoke any pending request for a  Borrowing of, or conversion to, or continuation of Eurocurrency Rate LoansTerm SOFR Loans (to the  extent of the affected Term SOFR Loans or Interest Periods) or, failing that, will be deemed to have  converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein  and (ii) any outstanding Term SOFR Loans shall be deemed to have been converted to Base Rate Loans  immediately at the end of their respective applicable Interest Period.    (b) Replacement of Term SOFR or Successor Rate. Notwithstanding anything to the  contrary in this Agreement or any other Loan Documents, if the Administrative Agent determines (which  determination shall be conclusive absent manifest error), or the Borrower or Required Lenders notify the  Administrative Agent (with, in the case of the Required Lenders, a copy to the Borrower) that the  Borrower or Required Lenders (as applicable) have determined, that:    (i) adequate and reasonable means do not exist for ascertaining one month,  three month and six month interest periods of Term SOFR, including, without limitation, because  the Term SOFR Screen Rate is not available or published on a current basis and such  circumstances are unlikely to be temporary; or    (ii) CME or any successor administrator of the Term SOFR Screen Rate or a  Governmental Authority having jurisdiction over the Administrative Agent or such administrator  with respect to its publication of Term SOFR, in each case acting in such capacity, has made a  public statement identifying a specific date after which one month, three month and six month  interest periods of Term SOFR or the Term SOFR Screen Rate shall or will no longer be made  available, or permitted to be used for determining the interest rate of U.S. dollar denominated  syndicated loans, or shall or will otherwise cease, provided that, at the time of such statement,  there is no successor administrator that is satisfactory to the Administrative Agent, that will  continue to provide such interest periods of Term SOFR after such specific date (the latest date  on which one month, three month and six month interest periods of Term SOFR or the Term  SOFR Screen Rate are no longer available permanently or indefinitely, the “Scheduled  Unavailability Date”);    then, on a date and time determined by the Administrative Agent (any such date, the  “Term SOFR Replacement Date”), which date shall be at the end of an Interest Period or on the relevant  interest payment date, as applicable, for interest calculated and, solely with respect to clause (ii) above, no  later than the Scheduled Unavailability Date, Term SOFR will be replaced hereunder and under any Loan  Document with Daily Simple SOFR plus the SOFR Adjustment for any payment period for interest  calculated that can be determined by the Administrative Agent, in each case, without any amendment to,  or further action or consent of any other party to, this Agreement or any other Loan Document (the  “Successor Rate).    -91-  #95982248v17   If the Successor Rate is Daily Simple SOFR plus the SOFR Adjustment, all interest  payments will be payable on a monthly basis.    Notwithstanding anything to the contrary herein, (i) if the Administrative Agent  determines that Daily Simple SOFR is not available on or prior to the Term SOFR Replacement Date, or  (ii) if the events or circumstances of the type described in Section 3.02(b)(i) or (ii) have occurred with  respect to the Successor Rate then in effect, then in each case, the Administrative Agent and the Borrower  may amend this Agreement solely for the purpose of replacing Term SOFR or any then current Successor  Rate in accordance with this Section 3.02 at the end of any Interest Period, relevant interest payment date  or payment period for interest calculated, as applicable, with an alternative benchmark rate giving due  consideration to any evolving or then existing convention for similar U.S. dollar denominated credit  facilities syndicated and agented in the United States for such alternative benchmark. and, in each case,  including any mathematical or other adjustments to such benchmark giving due consideration to any  evolving or then existing convention for similar U.S. dollar denominated credit facilities syndicated and  agented in the United States for such benchmark, which adjustment or method for calculating such  adjustment shall be published on an information service as selected by the Administrative Agent from  time to time in its reasonable discretion and may be periodically updated. For the avoidance of doubt,  any such proposed rate and adjustments, shall constitute a “Successor Rate”. Any such amendment shall  become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted  such proposed amendment to all Lenders and the Borrower unless, prior to such time, Lenders comprising  the Required Lenders have delivered to the Administrative Agent written notice that such Required  Lenders object to such amendment.    The Administrative Agent will promptly (in one or more notices) notify the Borrower and  each Lender of the implementation of any Successor Rate.    Any Successor Rate shall be applied in a manner consistent with market practice;  provided that to the extent such market practice is not administratively feasible for the Administrative  Agent, such Successor Rate shall be applied in a manner as otherwise reasonably determined by the  Administrative Agent.    Notwithstanding anything else herein, if at any time any Successor Rate as so determined  would otherwise be less than 0.00%, the Successor Rate will be deemed to be 0.00% for the purposes of  this Agreement and the other Loan Documents.    In connection with the implementation of a Successor Rate, the Administrative Agent, in  consultation with the Borrower, will have the right to make Conforming Changes from time to time and,  notwithstanding anything to the contrary herein or in any other Loan Document, any amendments  implementing such Conforming Changes will become effective without any further action or consent of  any other party to this Agreement; provided that, with respect to any such amendment effected, the  Administrative Agent shall post each such amendment implementing such Conforming Changes to the  Borrower and the Lenders reasonably promptly after such amendment becomes effective.    For purposes of this Section 3.02, those Lenders that either have not made, or do not have  an obligation under this Agreement to make, the relevant Loans in Dollars shall be excluded from any  determination of Required Lenders.              -92-  





 






#95982248v17   Section 3.03 Increased Cost and Reduced Return; Capital Adequacy; Reserves on  Eurocurrency RateTerm SOFR Loans.    (a) If any Lender determines that as a result of any Change in Law, or such Lender’s  compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or  making, funding or maintaining any Loan, or a reduction in the amount received or receivable by such  Lender in connection with any of the foregoing (excluding for purposes of this Section 3.03(a) any such  increased costs or reduction in amount resulting from (i) Indemnified Taxes or Other Taxes indemnifiable  under Section 3.01, (ii) Excluded Taxes described in clauses (b) through (e) of the definition of Excluded  Taxes, (iii) Excluded Taxes described in clause (a) of the definition of Excluded Taxes to the extent such  Taxes are imposed on or measured by such Lender’s net income or profits (or are franchise Taxes  imposed in lieu thereof) or (iv) reserve requirements contemplated by Section 3.03(c)), then from time to  time within fifteen (15) days after demand by such Lender setting forth in reasonable detail such  increased costs (with a copy of such demand to the Administrative Agent given in accordance with  Section 3.05), the Borrower shall pay to such Lender such additional amounts as will compensate such  Lender for such increased cost or reduction; provided that in the case of any Change in Law only  applicable as a result of the proviso set forth in the definition thereof, such Lender will only be  compensated for such amounts that would have otherwise been imposed under the applicable increased  cost provisions and only to the extent the applicable Lender is imposing such charges on other similarly  situated borrower under comparable syndicated credit facilities.    (b) If any Lender determines that as a result of any Change in Law regarding capital  adequacy or any change therein or in the interpretation thereof, in each case after the Closing Date, or  compliance by such Lender (or its Applicable Lending Office) therewith, has the effect of reducing the  rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence  of such Lender’s obligations hereunder (taking into consideration its policies with respect to capital  adequacy and such Lender’s desired return on capital), then from time to time upon demand of such  Lender setting forth in reasonable detail the charge and the calculation of such reduced rate of return  (with a copy of such demand to the Administrative Agent given in accordance with Section 3.05), the  Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such  reduction within fifteen (15) days after receipt of such demand.    (c) The Borrower shall pay to each Lender, (i) as long as such Lender shall be  required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency  funds or deposits, additional interest on the unpaid principal amount of each Eurocurrency Rate Loan  equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such  Lender in good faith, which determination shall be conclusive in the absence of demonstrable error), and  (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous  requirement of any other central banking or financial regulatory authority imposed in respect of the  maintenance of the Term Commitments or the funding of the Eurocurrency RateTerm SOFR Loans, such  additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest  five decimal places) equal to the actual costs allocated to such Term Commitment or Loan by such Lender  (as determined by such Lender in good faith, which determination shall be conclusive absent  demonstrable error) which in each case shall be due and payable on each date on which interest is payable  on such Loan, provided, the Borrower shall have received at least fifteen (15) days’ prior notice (with a  copy to the Administrative Agent) of such additional interest or cost from such Lender. If a Lender fails  to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest or cost  shall be due and payable fifteen (15) days after receipt of such notice.        -93-  #95982248v17   (d) Subject to Section 3.05(b), failure or delay on the part of any Lender to demand  compensation pursuant to this Section 3.03 shall not constitute a waiver of such Lender’s right to demand  such compensation.    (e) If any Lender requests compensation under this Section 3.03, then such Lender  will, if requested by the Borrower, use commercially reasonable efforts to designate another Applicable  Lending Office for any Loan affected by such event; provided that such efforts are made on terms that, in  the reasonable judgment of such Lender, cause such Lender and its Applicable Lending Office(s) to suffer  no material economic, legal or regulatory disadvantage; and provided further that nothing in this Section  3.03(e) shall affect or postpone any of the Obligations of the Borrower or the rights of such Lender  pursuant to Section 3.03(a), (b), (c) or (d).    Section 3.04 Funding Losses. Upon demand of any Lender (with a copy to the  Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and  hold such Lender harmless from any loss, cost or expense incurred by it as a result of:  (a) any continuation, conversion, payment or prepayment of any EurocurrencyLoan  other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan; or    (b) any failure by the Borrower (for a reason other than the failure of such Lender to  make a Loan) to prepay, borrow, continue or convert any Loan (other than a Base Rate Loan) on the date  or in the amount notified by the Borrower;    including any loss or expense arising from the liquidation or reemployment of funds obtained by it to  maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained.    For purposes of calculating amounts payable by the Borrower to the Lenders under this  Section 3.04, each Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the  Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the London interbank  eurodollar market for a comparable amount and for a comparable period, whether or not such  Eurocurrency Rate Loan was in fact so funded.    Section 3.05 Matters Applicable to All Requests for Compensation.    (a) Any Agent or any Lender claiming compensation under this Article III shall  deliver a certificate to the Borrower setting forth the additional amount or amounts to be paid to it  hereunder which shall be conclusive in the absence of demonstrable error. In determining such amount,  such Agent or such Lender may use any reasonable averaging and attribution methods.    (b) With respect to any Lender’s claim for compensation under Section 3.01, Section  3.02, Section 3.03 or Section 3.04, the Borrower shall not be required to compensate such Lender for any  amount incurred more than one hundred and eighty (180) days prior to the date that such Lender notifies  the Borrower of the event that gives rise to such claim; provided that, if the circumstance giving rise to  such claim is retroactive, then such 180-day period referred to above shall be extended to include the  period of retroactive effect thereof. If any Lender requests compensation by the Borrower under Section  3.03, the Borrower may, by notice to such Lender (with a copy to the Administrative Agent), suspend the  obligation of such Lender to make or continue Eurocurrency RateTerm SOFR Loans from one Interest  Period to another, or to convert Base Rate Loans into Eurocurrency RateTerm SOFR Loans, until the  event or condition giving rise to such request ceases to be in effect (in which case the provisions of      -94-  





 






#95982248v17   Section 3.05(c) shall be applicable); provided that such suspension shall not affect the right of such  Lender to receive the compensation so requested.    (c) If the obligation of any Lender to make or continue any Eurocurrency RateTerm  SOFR Loan from one Interest Period to another, or to convert Base Rate Loans into Eurocurrency  RateTerm SOFR Loans shall be suspended pursuant to Section 3.05(b) hereof, such Lender’s  Eurocurrency RateTerm SOFR Loans denominated in Dollars shall be automatically converted into Base  Rate Loans on the last day(s) of the then current Interest Period(s) for such Eurocurrency RateTerm  SOFR Loans (or, in the case of an immediate conversion required by Section 3.02, on such earlier date as  required by Law) and, unless and until such Lender gives notice as provided below that the circumstances  specified in Section 3.01, Section 3.02, Section 3.03 or Section 3.04 hereof that gave rise to such  conversion no longer exist:    (i) to the extent that such Lender’s Eurocurrency RateTerm SOFR Loans  denominated in Dollars have been so converted, all payments and prepayments of principal that  would otherwise be applied to such Lender’s Eurocurrency RateTerm SOFR Loans shall be  applied instead to its Base Rate Loans; and    (ii) all Loans denominated in Dollars that would otherwise be made or continued  from one Interest Period to another by such Lender as Eurocurrency RateTerm SOFR Loans shall  be made or continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that  would otherwise be converted into Eurocurrency RateTerm SOFR Loans shall remain as Base  Rate Loans.    (d) If any Lender gives notice to the Borrower (with a copy to the Administrative  Agent) that the circumstances specified in Section 3.01, Section 3.02, Section 3.03 or Section 3.04 hereof  that gave rise to the conversion of such Lender’s Eurocurrency RateTerm SOFR Loans denominated in  Dollars pursuant to this Section 3.05 no longer exist (which such Lender agrees to do promptly upon such  circumstances ceasing to exist) at a time when Eurocurrency RateTerm SOFR Loans made by other  Lenders are outstanding, such Lender’s Base Rate Loans shall be automatically converted to  Eurocurrency RateTerm SOFR Loans, on the first day(s) of the next succeeding Interest Period(s) for  such outstanding Eurocurrency RateTerm SOFR Loans, to the extent necessary so that, after giving effect  thereto, all Loans held by the Lenders holding Eurocurrency RateTerm SOFR Loans and by such Lender  are held pro rata (as to principal amounts, interest rate basis, and Interest Periods) in accordance with their  respective principal amount of Term Commitments.    Section 3.06 Replacement of Lenders under Certain Circumstances.    (a) If at any time (i) any Lender requests reimbursement for amounts owing pursuant  to Section 3.01 or Section 3.03 as a result of any condition described in such Sections and such Lender  has declined or is unable to designate a different lending office in accordance with Section 3.01(e) or any  Lender ceases to make Eurocurrency RateTerm SOFR Loans as a result of any condition described in  Section 3.02 or Section 3.03, (ii) any Lender becomes a Defaulting Lender, (iii) any Lender becomes a  Non-Consenting Lender or (iv) any Lender becomes a Non-Extending Lender, then the Borrower may, on  prior written notice to the Administrative Agent and such Lender, replace such Lender by requiring such  Lender to (and such Lender shall be obligated to) assign pursuant to Section 10.07(b) (with the  assignment fee to be paid by the Borrower in such instance) all of its rights and obligations under this  Agreement (or, with respect to clause (iii) and clause (iv) above, all of its rights and obligations with  respect to the Class of Loans or Term Commitments that is the subject of the related consent, waiver or  amendment) to one or more Eligible Assignees (provided that neither the Administrative Agent nor any  Lender shall have any obligation to the Borrower to find a replacement Lender or other such Person; and  -95-  #95982248v17   provided, further, that (A) in the case of any such assignment resulting from a claim for compensation  under Section 3.03 or payments required to be made pursuant to Section 3.01, such assignment will result  in a reduction in such compensation or payments and (B) in the case of any such assignment resulting  from a Lender becoming a Non-Consenting Lender or a Non-Extending Lender, the applicable Eligible  Assignees shall have agreed to the applicable departure, waiver or amendment of the Loan Documents).    (b) Any Lender being replaced pursuant to Section 3.06(a) above shall (i) execute  and deliver an Assignment and Assumption with respect to such Lender’s Term Commitment and  outstanding Loans, as applicable (provided that the failure of any such Lender to execute an Assignment  and Assumption shall not render such assignment invalid and such assignment shall be recorded in the  Register) and (ii) deliver Term Notes, if any, evidencing such Loans to the Borrower or Administrative  Agent. Pursuant to such Assignment and Assumption, (A) the assignee Lender shall acquire all or a  portion, as the case may be, of the assigning Lender’s Term Commitments and outstanding Loans, as  applicable, (B) all obligations of the Loan Parties owing to the assigning Lender relating to the Loan  Documents and participations so assigned shall be paid in full by the assignee Lender or the Loan Parties  (as applicable) to such assigning Lender concurrently with such assignment and assumption, any amounts  owing to the assigning Lender (other than a Defaulting Lender) under Section 3.04 as a consequence of  such assignment and, in the case of an assignment of Term Loans in connection with a Repricing  Transaction, the premium, if any, that would have been payable by the Borrower on such date pursuant to  Section 2.05(a)(iv) if such Lender’s Term Loans subject to such assignment had been prepaid on such  date shall have been paid by the Borrower to the assigning Lender and (C) upon such payment and, if so  requested by the assignee Lender, the assignor Lender shall deliver to the assignee Lender the appropriate  Term Notes executed by the Borrower, the assignee Lender shall become a Lender hereunder and the  assigning Lender shall cease to constitute a Lender hereunder with respect to such assigned Loans, Term  Commitments and participations, except with respect to indemnification provisions under this Agreement,  which shall survive as to such assigning Lender.    (c) [Reserved].    (d) In the event that (i) the Borrower or the Administrative Agent have requested that  the Lenders consent to a departure or waiver of any provisions of the Loan Documents or agree to any  amendment thereto, (ii) the consent, waiver or amendment in question requires the agreement of all  affected Lenders in accordance with the terms of Section 10.01 or all the Lenders with respect to a certain  Class of the Loans and (iii) the Required Lenders, as applicable, have agreed to such consent, waiver or  amendment, then any Lender who does not agree to such consent, waiver or amendment shall be deemed  a “Non-Consenting Lender.”    Section 3.07 Illegality. If any Lender determines that any Law has made it  unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its  Applicable Lending Office to perform any of its obligations hereunder or make, maintain or fund or  charge interest with respect to any Credit Extension or to determine or charge interest rates based upon  the Eurocurrency Rate, or any Governmental Authority has imposed material restrictions on the authority  of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank marketSOFR or  Term SOFR, then, onupon notice thereof by such Lender to the Borrower through the Administrative  Agent, (i) any obligation of such Lender to issue, make, maintain, fund or charge interest with respect to  any such Credit Extension or continue Eurocurrency RateTerm SOFR Loans or to convert Base Rate  Loans to Eurocurrency RateTerm SOFR Loans shall be suspended, and (ii) if such notice asserts the  illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined  by reference to the Eurocurrency RateTerm SOFR component of the Base Rate, the interest rate on which  Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the  Administrative Agent without reference to the Eurocurrency RateTerm SOFR component of the Base  -96-  





 






#95982248v17   Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the  circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the  Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if  applicable, convert all Eurocurrency RateTerm SOFR Loans of such Lender to Base Rate Loans (the  interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be  determined by the Administrative Agent without reference to the Eurocurrency RateTerm SOFR  component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may  lawfully continue to maintain such Eurocurrency RateTerm SOFR Loans to such day, or immediately, if  such Lender may not lawfully continue to maintain such Eurocurrency RateTerm SOFR Loans and (y) if  such notice asserts the illegality of such Lender determining or charging interest rates based upon the  Eurocurrency RateTerm SOFR, the Administrative Agent shall during the period of such suspension  compute the Base Rate applicable to such Lender without reference to the Eurocurrency RateTerm SOFR  component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer  illegal for such Lender to determine or charge interest rates based upon the Eurocurrency RateTerm  SOFR. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the  amount so prepaid or converted, together with any additional amounts required pursuant to Section 3.04.    Section 3.08 Survival. All of the Borrower’s obligations under this Article III shall  survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder and  any assignment of rights by or replacement of a Lender.    ARTICLE IV    Conditions Precedent to Credit Extensions    Section 4.01 Conditions to Closing Date. The obligation of each Lender to make  its initial Credit Extension hereunder on the Closing Date is subject to satisfaction of the following  conditions precedent (or waiver thereof in accordance with Section 10.01):    (a) The Administrative Agent’s receipt of the following, each of which shall be  originals or facsimiles (followed promptly by originals) unless otherwise specified, each properly  executed by a Responsible Officer of the signing Loan Party (other than in respect of (a)(i)(v) below),  each in form and substance reasonably satisfactory to the Administrative Agent and its legal counsel:    (i) executed counterparts of this Agreement and the Guaranty from each of the Loan  Parties listed on the signature pages thereto;    (ii) a Term Note executed by the Borrower in favor of each Lender that has requested  a Term Note at least five (5) Business Days in advance of the Closing Date;    (iii) each Collateral Document set forth on Schedule 1.01A required to be executed  on the Closing Date as indicated on such schedule, duly executed by each Loan Party party  thereto, together with (except as provided in such Collateral Documents);    (A) certificates, if any, representing the pledged equity referred to therein,  accompanied by undated stock powers executed in blank and (if applicable) instruments  evidencing the pledged debt referred to therein endorsed in blank;    (B) evidence that all other actions, recordings and filings that the Administrative  Agent or Collateral Agent may deem reasonably necessary to satisfy the Collateral and Guarantee    -97-  #95982248v17   Requirement shall have been taken, completed or otherwise provided for in a manner reasonably  satisfactory to the Administrative Agent and Collateral Agent; and    (C) certified copies of UCC, United States Patent and Trademark Office and United  States Copyright Office, tax and judgment lien searches, or equivalent reports or searches, each of  a recent date listing all effective financing statements, lien notices or comparable documents  (together with copies of such financing statements and documents) that name any Loan Party as  debtor and that are filed in those state and county jurisdictions in which any Loan Party is  organized or maintains its principal place of business and such other searches that are required by  the Security Agreement or that the Administrative Agent deems necessary or appropriate;    (iv) such certificates, copies of Organization Documents of the Loan Parties,  resolutions or other action and incumbency certificates and/or other certificates of Responsible  Officers of each Loan Party as the Administrative Agent may reasonably require evidencing the  identity, authority and capacity of each Responsible Officer thereof authorized to act as a  Responsible Officer in connection with this Agreement and the other Loan Documents to which  such Loan Party is a party or is to be a party on the Closing Date;    (v) an opinion from (i) Kirkland & Ellis LLP, counsel to the Loan Parties and (ii)  Cozen O’Connor, Pennsylvania counsel to the Loan Parties; and    (vi) a certificate attesting to the Solvency of the Parents, the Borrower and the  Restricted Subsidiaries (on a Consolidated basis) on the Closing Date after giving effect to the  Transaction, from the Borrower’s chief financial officer or other officer with equivalent duties.    (b) All fees and expenses required to be paid hereunder or pursuant to the Agent Fee  Letter and Engagement Letter, to the extent invoiced at least three (3) Business Days prior to the Closing  Date shall have been paid in full in cash or will be paid on the Closing Date.    (c) The Lead Arrangers shall have received (i) the Audited Financial Statements and  (ii) the Unaudited Financial Statements.    (d) Prior to or substantially simultaneously with the Closing Date, the Refinancing  shall have been consummated.    (e) The Administrative Agent and the Lead Arrangers shall have received at least  three (3) Business Days prior to the Closing Date all documentation and other information about the  Borrower and the Guarantors as has been reasonably requested in writing at least ten (10) Business Days  prior to the Closing Date by the Administrative Agent and the Lead Arrangers that they reasonably  determine is required by regulatory authorities under applicable “know your customer” and anti-money  laundering rules and regulations, including without limitation the USA PATRIOT Act.    (f) The Term Intercreditor Agreement and the ABL Intercreditor Agreement shall  have been duly executed and delivered by each Loan Party thereto.    (g) Evidence that all insurance required to be maintained pursuant to the Loan  Documents has been obtained and is in effect, together with the certificates of insurance, naming the  Administrative Agent, on behalf of the Secured Parties, as an additional insured or loss payee, as the case  may be, under all casualty insurance policies maintained with respect to the assets and properties of the  Loan Parties that constitutes Collateral.    -98-  





 






#95982248v17   For purposes of determining whether the Closing Date has occurred, each Lender that has  executed this Agreement shall be deemed to have consented to, approved or accepted, or to be satisfied  with, each document or other matter required hereunder to be consented to or approved by or acceptable  or satisfactory to the Administrative Agent or such Lender, as the case may be, unless such Lender has  notified the Administrative Agent of any disagreement prior to the Closing Date.    Section 4.02 Conditions to Subsequent Credit Extensions. Subject to Section 2.14,  the obligation of each Lender to honor any Request for Credit Extension on or after the Closing Date  (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type, or a  continuation of Eurocurrency RateTerm SOFR Loans) is subject to the following conditions precedent:    (a) The representations and warranties of the Borrower and each other Loan Party  contained in Article V or any other Loan Document shall be true and correct in all material respects on  and as of the date of such Credit Extension; provided that, to the extent that such representations and  warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of  such earlier date; provided, further, that any representation and warranty that is qualified as to  “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect  to any qualification therein) in all respects on such respective dates; provided, further, that in the case of  an Incremental Facility the proceeds of which will be used to finance a Limited Condition Transaction,  the foregoing will be limited to the Specified Representations.    (b) No Default shall exist, or would result from such proposed Credit Extension or  from the application of the proceeds therefrom.    (c) The Administrative Agent shall have received a Request for Credit Extension in  accordance with the requirements hereof.    Each Request for Credit Extension (other than a Committed Loan Notice requesting only  a conversion of Loans to the other Type or a continuation of Eurocurrency RateTerm SOFR Loans)  submitted by the Borrower shall be deemed to be a representation and warranty that the applicable  conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable  Credit Extension.    ARTICLE V    Representations and Warranties    The Parents and the Borrower represent and warrant to the Agents and the Lenders on the  Closing Date and on the date of each subsequent Credit Extension that:    Section 5.01 Existence, Qualification and Power; Compliance with Laws. Each  Parent, the Borrower and each Restricted Subsidiary (a) is a Person duly incorporated, organized or  formed, and validly existing and, where applicable, in good standing under the Laws of the jurisdiction of  its incorporation or organization, (b) has all requisite power and authority to (i) own or lease its assets and  carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to  which it is a party, (c) is duly qualified and, where applicable, in good standing under the Laws of each  jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires  such qualification, (d) is in material compliance with all Laws (including the USA PATRIOT Act and  anti-money laundering laws), orders, writs, injunctions and orders and (e) has all requisite governmental  licenses, authorizations, consents and approvals to operate its business as currently conducted; except in  each case referred to in clause (a) (other than with respect to any Parent and the Borrower), (b)(i), (c), (d)  -99-  #95982248v17   or (e), to the extent that failure to do so could not, individually or in the aggregate, reasonably be  expected to have a Material Adverse Effect.    Section 5.02 Authorization; No Contravention. The execution, delivery and  performance by each Loan Party of each Loan Document to which such Person is a party, and the  consummation of the Transaction, (a) have been duly authorized by all necessary corporate or other  organizational action and (b) do not and will not (i) contravene the terms of any of such Person’s  Organization Documents, (ii) conflict with or result in any breach or contravention of, or require any  payment to be made under (A) any Contractual Obligation exceeding the Threshold Amount to which  such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries  or (B) any material order, injunction, writ or decree of any Governmental Authority or any arbitral award  to which such Person or its property is subject, (iii) result in the creation of any Lien (other than under the  Loan Documents and Liens subject to the Applicable Intercreditor Agreement) or (iv) violate any material  Law; except (in the case of clauses (b)(ii) and (b)(iv)), to the extent that such conflict, breach,  contravention, payment or violation could not, individually or in the aggregate, reasonably be expected to  have a Material Adverse Effect.    Section 5.03 Governmental Authorization; Other Consents. No approval, consent,  exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or  any other Person is necessary or required in connection with (a) the execution, delivery or performance  by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, or for the  consummation of the Transaction, (b) the grant by any Loan Party of the Liens granted by it pursuant to  the Collateral Documents, (c) the perfection or maintenance of the Liens created under the Collateral  Documents (including the priority thereof) or (d) the exercise by the Administrative Agent or any Lender  of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the  Collateral Documents, except for (i) filings necessary to perfect the Liens on the Collateral granted by the  Loan Parties in favor of the Secured Parties, (ii) the approvals, consents, exemptions, authorizations,  actions, notices and filings which have been duly obtained, taken, given or made and are in full force and  effect and (iii) those approvals, consents, exemptions, authorizations or other actions, notices or filings,  the failure of which to obtain or make could not, individually or in the aggregate, reasonably be expected  to have a Material Adverse Effect.    Section 5.04 Binding Effect. This Agreement and each other Loan Document has  been duly executed and delivered by each Loan Party that is party thereto. This Agreement and each  other Loan Document constitutes a legal, valid and binding obligation of such Loan Party, enforceable  against each Loan Party that is party thereto in accordance with its terms, except as such enforceability  may be limited by Debtor Relief Laws and by general principles of equity.    Section 5.05 Financial Statements; No Material Adverse Effect.    (a) The Audited Financial Statements and the Unaudited Financial Statements each  fairly present in all material respects the financial condition of the Parents, the Borrower and the GAAP  Consolidated Members of the Borrower, in each case, as of the dates thereof and their results of  operations for the period covered thereby, except as otherwise disclosed to the Administrative Agent prior  to the Closing Date, and in the case of the Audited Financial Statements, prepared in accordance with  GAAP consistently applied throughout the periods covered thereby.    (b) Since the date of the Audited Financial Statements, there has been no event or  circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have  a Material Adverse Effect.    -100-  





 






#95982248v17   Each Lender and the Administrative Agent hereby acknowledges and agrees that any  Parent and its Subsidiaries may be required to restate historical financial statements as the result of the  implementation of changes in GAAP or IFRS, or the respective interpretation thereof, and that such  restatements will not result in a Default or Event of Default under the Loan Documents.    Section 5.06 Litigation. Except as set forth on Schedule 5.06, there are no actions,  suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened in writing  or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against any  Parent, the Borrower or any Restricted Subsidiary or against any of their properties or revenues that either  individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.    Section 5.07 Ownership of Property; Liens. Each Loan Party and each of its  Subsidiaries has good and valid title to, or valid leasehold interests in, or easements or other limited  property interests in, all property necessary in the ordinary conduct of its business, free and clear of all  Liens except for minor defects in title that do not materially interfere with its ability to conduct its  business or to utilize such assets for their intended purposes, Permitted Liens and any Liens and privileges  arising mandatorily by Law and, in each case, except where the failure to have such title or other interest  could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.    Section 5.08 Environmental Matters. Except as could not reasonably be expected  to have, individually or in the aggregate, a Material Adverse Effect:    (a) there are no pending or, to the knowledge of the Borrower, threatened claims,  actions, suits, notices of violation, notices of potential responsibility, disputes or proceedings by or  involving any Loan Party or any of its Subsidiaries alleging potential liability or responsibility for  violation of, or otherwise relating to, any Environmental Law;    (b) (i) there is no asbestos or asbestos-containing material on any property currently  owned, leased or operated by any Loan Party or any of its Subsidiaries; and (ii) there has been no Release  of Hazardous Materials at, on, under or from any location in a manner which would reasonably be  expected to give rise to any Environmental Liability of or relating to any Loan Party or any of its  Subsidiaries;    (c) neither any Loan Party nor any of its Subsidiaries is undertaking, or has  completed, either individually or together with other persons, any investigation or response action relating  to any actual or threatened Release of Hazardous Materials at any location, either voluntarily or pursuant  to the order of any Governmental Authority or the requirements of any Environmental Law;    (d) all Hazardous Materials transported from any property currently or, to the  knowledge of any Parent, the Borrower or any of their Subsidiaries, formerly owned, leased or operated  by any Loan Party or any of its Subsidiaries for off-site disposal have been disposed of in compliance  with all Environmental Laws;    (e) none of the Loan Parties nor any of its Subsidiaries has contractually or by  operation of Law assumed any Environmental Liability; and    (f) the Loan Parties and each of their respective Subsidiaries and their respective  businesses, operations and properties are and have been in compliance with all Environmental Laws.    Section 5.09 Taxes. Each Parent, the Borrower and each Restricted Subsidiary has  timely filed all federal, provincial, state, municipal, foreign and other Tax returns and reports required to  -101-  #95982248v17   be filed, and have timely paid all federal, provincial, state, municipal, foreign and other Taxes levied or  imposed upon them or their properties, income or assets otherwise due and payable, except those which  are being contested in good faith by appropriate proceedings diligently conducted and for which adequate  reserves have been provided in accordance with GAAP or, except for failures to file or pay as could not,  either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.  There are no Tax audits, deficiencies, assessments or other claims with respect to any Parent, the  Borrower or any Restricted Subsidiary that could, either individually or in the aggregate, reasonably be  expected to result in a Material Adverse Effect.    Section 5.10 Compliance with ERISA.    (a) Except as could not, either individually or in the aggregate, reasonably be  expected to result in a Material Adverse Effect, each Plan is in compliance with the applicable provisions  of ERISA, the Code and other federal or state Laws and applicable foreign laws, respectively.    (b) (i) No ERISA Event or similar event with respect to a Foreign Plan has occurred  or is reasonably expected to occur; (ii) neither any Loan Party nor any ERISA Affiliate has incurred, or  reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice  under Section 4219 of ERISA, would result in such liability) under Section 4201 et seq. or 4243 of  ERISA with respect to a Multiemployer Plan; and (iii) neither any Loan Party nor any ERISA Affiliate  has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA, except, with  respect to each of the foregoing clauses of this Section 5.10, as could not reasonably be expected,  individually or in the aggregate, to result in a Material Adverse Effect.    Section 5.11 Subsidiaries; Equity Interests. As of the Closing Date, neither the  Borrower nor any other Loan Party has any Subsidiaries other than those specifically disclosed in  Schedule 5.11, and all of the outstanding Equity Interests in the Borrower and the Subsidiaries of any  Parent have been validly issued, are fully paid and, in the case of Equity Interests representing corporate  interests, nonassessable and, on the Closing Date, all Equity Interests owned directly or indirectly by any  Parent or any other Loan Party are owned free and clear of all Liens except (i) those created under the  Collateral Documents, and (ii) those Liens permitted under Section 7.01. As of the Closing Date,  Schedule 5.11 (a) sets forth the name and jurisdiction of organization or incorporation of each Subsidiary,  (b) sets forth the ownership interest of each Parent, the Borrower and each of their Subsidiaries in each of  their Subsidiaries, including the percentage of such ownership and (c) identifies each Person the Equity  Interests of which are required to be pledged on the Closing Date pursuant to the Collateral and Guarantee  Requirement.    Section 5.12 Margin Regulations; Investment Company Act.    (a) No Loan Party is engaged nor will it engage, principally or as one of its  important activities, in the business of purchasing or carrying margin stock (within the meaning of  Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin  stock, and no proceeds of any Borrowings will be used for any purpose that violates Regulation U or  Regulation X of the FRB.    (b) None of the Parents, the Borrower or any Restricted Subsidiary is or is required  to be registered as an “investment company” under the Investment Company Act of 1940, as amended.    Section 5.13 Disclosure. No report, financial statement, certificate or other written  information furnished by or on behalf of any Loan Party to any Agent, any Lead Arranger or any Lender  in connection with the transactions contemplated hereby and the negotiation of this Agreement or  -102-  





 






#95982248v17   delivered hereunder or any other Loan Document (as modified or supplemented by other information so  furnished) when taken as a whole contains when furnished any untrue statement of a material fact or  omits to state a material fact necessary in order to make the statements contained therein not materially  misleading in light of the circumstances under which such statements are made (giving effect to all  supplements and updates thereto); provided that, with respect to projected financial information, the  Borrower represents only that such information was prepared in good faith based upon assumptions  believed to be reasonable at the time of preparation; it being understood that (i) such projections are as to  future events and are not to be viewed as facts and are subject to significant uncertainties and  contingencies, many of which are beyond the control of the Borrower, (ii) no assurance can be given that  any particular projections will be realized and that actual results during the period or periods covered by  any such projections may differ significantly from the projected results and (iii) such differences may be  material.    Section 5.14 Intellectual Property; Licenses, Etc. Each of the Loan Parties and the  other Restricted Subsidiaries own, license or possess the right to use, all of the trademarks, service marks,  trade names, domain names, copyrights, patents, patent rights, technology, software, know-how database  rights, design rights and other intellectual property rights, and all registrations and applications for  registration thereof (collectively, “IP Rights”) that are used in or reasonably necessary for the operation of  their respective businesses as currently conducted, and, to the knowledge of the Borrower, without  violation of the rights of any Person, except to the extent such violation or failure to own, license, or  possess, either individually or in the aggregate, could not reasonably be expected to have a Material  Adverse Effect. No claim or litigation regarding any such IP Rights, is pending or, to the knowledge of  the Borrower, threatened against any Loan Party or Subsidiary, which, either individually or in the  aggregate, could reasonably be expected to have a Material Adverse Effect.    Section 5.15 Solvency. On the Closing Date after giving effect to the Transaction,  the Parents, the Borrower and the Restricted Subsidiaries, on a Consolidated basis, are Solvent.    Section 5.16 Collateral Documents. The Collateral Documents are effective to  create in favor of the Collateral Agent for the benefit of the Secured Parties legal, valid and enforceable  Liens on and security interests in, the Collateral described therein and to the extent intended to be created  thereby, except as such enforceability may be limited by Debtor Relief Laws and by general principles of  equity, and (i) when all appropriate filings or recordings are made in the appropriate offices as may be  required under applicable Laws (which filings or recordings shall be made to the extent required by any  Collateral Document) and (ii) upon the taking of possession or control by the Collateral Agent of such  Collateral with respect to which a security interest may be perfected only by possession or control (which  possession or control shall be given to the Collateral Agent to the extent required by any Collateral  Document or the Applicable Intercreditor Agreement), the Liens created by such Collateral Documents  will constitute so far as possible under relevant Law fully perfected Liens on (with the priority set forth in  the Applicable Intercreditor Agreement), and security interests in, all right, title and interest of the Loan  Parties in such Collateral to the extent perfection can be obtained by filing financing statements or upon  the taking of possession or control, in each case subject to no Liens other than Permitted Liens.    Section 5.17 Use of Proceeds. The proceeds of the Initial Term Loans shall be  used in a manner consistent with the uses set forth in the Preliminary Statement to this Agreement.    Section 5.18 Sanctions Laws and Regulations and Anti-Corruption Laws.    (a) Each of the Parents, the Borrower and the Restricted Subsidiaries is in  compliance, in all material respects, with the Sanctions Laws and Regulations and applicable  anti-corruption laws (including, without limitation, the FCPA). No Borrowing or use of proceeds of any  -103-  #95982248v17   Borrowing will violate or result in the violation of any Sanctions Laws and Regulations applicable to any  party hereto.    (b) None of (I) the Borrower or any other Loan Party or (II) a Restricted Subsidiary  that is not a Loan Party or, to the knowledge of the Borrower, any director, manager, officer, agent or  employee of any Parent, the Borrower or any of the Restricted Subsidiaries, in each case, is (i) a Person  (or owned 50% or more by one or more Persons or under Control of a Person) on the list of “Specially  Designated Nationals and Blocked Persons” or the target of the limitations or prohibitions under any  Sanctions Laws and Regulations, or (ii) a Person located, organized, or resident in a country or territory  that is the subject of comprehensive sanctions under Sanctions Laws and Regulations (currently, Crimea,  Cuba, Iran, North Korea, Sudan and Syria).    (c) No part of the proceeds of any Loan will be used for any improper payments,  directly or, to the knowledge of the Borrower, indirectly, to any governmental official or employee,  political party, official of a political party, candidate for political office, or any other party (if applicable)  in order to obtain, retain or direct business or obtain any improper advantage, in violation of the FCPA  and any applicable similar laws, rules or regulations issued, administered or enforced by any  Governmental Authority having jurisdiction over the Borrower.    ARTICLE VI    Affirmative Covenants    From and after the Closing Date and for so long as any Lender shall have any Term  Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable shall  remain unpaid or unsatisfied (other than contingent indemnification obligations not yet due), the Parents  and the Borrower shall, and shall (except in the case of the covenants set forth in Section 6.01, Section  6.02 and Section 6.03) cause each of its Restricted Subsidiaries to:    Section 6.01 Financial Statements. Deliver to the Administrative Agent for prompt  further distribution to each Lender:    (a) as soon as available, but in any event within one hundred and twenty (120) days  (or, in the case of the fiscal year ending December 31, 2017, one hundred and fifty (150) days) after the  end of each fiscal year of the Parents, a Consolidated balance sheet of the Parents, the Borrower and the  Restricted Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income  or operations, stockholders’ equity, cash flows and changes in retained earnings for such fiscal year,  setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable  detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an  independent registered public accounting firm of nationally recognized standing, which report and  opinion shall be prepared in accordance with generally accepted auditing standards and shall not be  subject to any “going concern” or like qualification or exception (other than (x) an emphasis of matter to  the extent such statement does not qualify such audit, (y) with respect to, or resulting from, the regularly  scheduled maturity of any Indebtedness occurring within one year from the time opinion is delivered or  (z) a prospective default under any financial covenant) or any qualification or exception as to the scope of  such audit;    (b) as soon as available, but in any event, within forty five (45) days (or, in the case  of the fiscal quarters ending September 30, 2017, March 31, 2018, June 30, 2018 and September 30,  2018, sixty (60) days) after the end of each of the first three (3) fiscal quarters of each fiscal year of the  Parents, a Consolidated balance sheet of the Parents, the Borrower and the Restricted Subsidiaries as at  -104-  





 






#95982248v17   the end of such fiscal quarter, and the related (i) consolidated statements of income or operations and  equity for such fiscal quarter and for the portion of the fiscal year then ended, and (ii) consolidated  statements of cash flows for the portion of the fiscal year then ended, setting forth in each case in  comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the  corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible  Officer of the Borrower as fairly presenting in all material respects the financial condition, results of  operations, stockholders’ equity and cash flows of the Parents, the Borrower and the other Subsidiaries in  accordance with GAAP, subject only to normal year-end adjustments and the absence of footnotes;    (c) simultaneously with the delivery of each set of consolidated financial statements  referred to in Section 6.01(a) and (b) above, the related consolidating financial statements reflecting the  adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such  consolidated financial statements and, solely with the delivery of each set of consolidated financial  statements referred to in Section 6.01(a) above, a customary management discussion and analysis of  operating results.    Notwithstanding the foregoing, the obligations in paragraphs (a) and (b) of this Section  6.01 may be satisfied with respect to financial information of the Parents, the Borrower and the Restricted  Subsidiaries by furnishing (A) the applicable consolidated financial statements of any direct or indirect  parent of the Parents that, directly or indirectly, holds all of the Equity Interests of the Parents, (B) the  Parents’ (or any direct or indirect parent thereof, as applicable) Form 10-K or 10-Q, as applicable, filed  with the SEC, (C) following an election by the Borrower pursuant to the definition of “GAAP,” the  applicable financial statements determined in accordance with IFRS or (D) the Form 10-K or 10-Q, as  applicable, filed with the SEC by Utz Brands, Inc., a Delaware corporation; provided that, with respect to  each of clauses (A), (B) and (D), (i) to the extent such information relates to a parent of the Parents, such  information is accompanied by consolidating information that explains in reasonable detail the differences  between the information relating to such parent, on the one hand, and the information relating to the  Parents, the Borrower and the Restricted Subsidiaries on a standalone basis, on the other hand and (ii) to  the extent such information is in lieu of information required to be provided under Section 6.01(a), such  materials are accompanied by a report and opinion an independent registered public accounting firm of  nationally recognized standing, which report and opinion, subject to the same exceptions set forth above,  shall be prepared in accordance with generally accepted auditing standards.    Section 6.02 Certificates; Other Information. Deliver to the Administrative Agent  for prompt further distribution to each Lender:    (a) no later than five (5) days after the delivery of the financial statements referred to  in Section 6.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible Officer of  the Borrower;    (b) promptly after the same are publicly available, copies of all annual, regular,  periodic and special reports and registration statements which any Parent or the Borrower files with the  SEC or with any Governmental Authority that may be substituted therefor (other than amendments to any  registration statement (to the extent such registration statement, in the form it became effective, is  delivered), exhibits to any registration statement and, if applicable, any registration statement on Form  S-8) and in any case not otherwise required to be delivered to the Administrative Agent pursuant hereto;    (c) promptly after the furnishing thereof, copies of any material requests or material  notices received by any Parent, the Borrower or any Restricted Subsidiary (other than in the ordinary  course of business) that could reasonably be expected to result in a Material Adverse Effect;    -105-  #95982248v17   (d) together with the delivery of the financial statements pursuant to Section 6.01(a)  and each Compliance Certificate pursuant to Section 6.02(a), (i) a report setting forth the information  required by Section 3.03 of the Security Agreement or confirming that there has been no change in such  information since the Closing Date or the date of the last Compliance Certificate, (ii) a description of each  event, condition or circumstance during the last fiscal quarter covered by such Compliance Certificate  requiring a prepayment under Section 2.05(b), (iii) a list of Subsidiaries that identifies each Subsidiary as  a Material Subsidiary, Unrestricted Subsidiary or an Immaterial Subsidiary as of the date of delivery of  such Compliance Certificate or a confirmation that there is no change in such information since the later  of the Closing Date or the date of the last such list and (iv) such other information required by the  Compliance Certificate;    (e) [reserved];    (f) promptly, such additional information regarding the business, legal, financial or  corporate affairs of any Loan Party or any Material Subsidiary, or compliance with the terms of the Loan  Documents, as the Administrative Agent or any Lender through the Administrative Agent may from time  to time reasonably request; and    (g) [reserved].    Documents required to be delivered pursuant to Section 6.01(a), (b) and (c), Section  6.02(a), or Section 6.02(c) may be delivered electronically and if so delivered, shall be deemed to have  been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on  the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which  such documents are posted on the Borrower’s behalf on IntraLinks/IntraAgency or another relevant  website, if any, to which each Lender and the Administrative Agent have access (whether a commercial,  third-party website or whether sponsored by the Administrative Agent); provided that: (i) upon written  request by the Administrative Agent, the Borrower shall deliver paper copies of such documents to the  Administrative Agent for further distribution to each Lender until a written request to cease delivering  paper copies is given by the Administrative Agent and (ii) the Borrower shall notify (which may be by  facsimile or electronic mail) the Administrative Agent of the posting of any such documents and provide  to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.  Each Lender shall be solely responsible for timely accessing posted documents or requesting delivery of  paper copies of such documents from the Administrative Agent and maintaining its copies of such  documents.    The Borrower represents and warrants that it, its controlling Person and any Subsidiary,  in each case, if any, either (i) has no registered or publicly traded securities outstanding, or (ii) files its  financial statements with the SEC and/or makes its financial statements available to potential holders of  its 144A securities, and, accordingly, the Borrower hereby (i) authorizes the Administrative Agent to  make the financial statements to be provided under Section 6.01(a), (b) and (c) and Section 6.02(a) or  Section 6.02(c) above (collectively, “Borrower Materials”), along with the Loan Documents, available on  IntraLinks or another similar electronic system (the “Platform”) to certain of the Lenders (each, a “Public  Lender”) that may have personnel who do not wish to receive material non-public information with  respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may  be engaged in investment and other market-related activities with respect to such Persons’ securities, and  (ii) agrees that at the time such financial statements are provided hereunder, they shall already have been  made available to holders of its securities. The Borrowers hereby agree that they will use commercially  reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public  Lenders and that (x) all such Borrower Materials shall be clearly and conspicuously marked “PUBLIC”  which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page  -106-  





 






#95982248v17   thereof; (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a  portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the  Lead Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being  suitable only for posting on a portion of the Platform not designated “Public Side Information.” The  Administrative Agent shall be under no obligation to post any other material to Public Lenders unless the  Borrower has expressly represented and warranted to the Administrative Agent in writing that such  materials do not constitute material non-public information within the meaning of the federal securities  laws or that the Borrower has no outstanding publicly traded securities, including 144A securities.    Section 6.03 Notices. Promptly after a Responsible Officer obtains actual  knowledge thereof, notify the Administrative Agent for prompt further distribution to each Lender:    (a) of the occurrence of any Default, which notice shall specify the nature thereof,  the period of existence thereof and what action the Borrower proposes to take with respect thereto;    (b) of any litigation or governmental proceeding (including, without limitation,  pursuant to any Environmental Laws) pending against any Parent, the Borrower or any of the Restricted  Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to result  in a Material Adverse Effect; and    (c) of the occurrence of any ERISA Event that could reasonably be expected to have  a Material Adverse Effect.    Section 6.04 Maintenance of Existence. (a) Preserve, renew and maintain in full  force and effect its legal existence under the Laws of the jurisdiction of its organization or incorporation  and (b) take all reasonable action to maintain all rights (including IP Rights), privileges (including its  good standing), permits, licenses and franchises necessary or desirable in the normal conduct of its  business, except in the case of clauses (a) (other than with respect to the Borrower and any Parent) and  (b), (i) to the extent that failure to do so could not reasonably be expected to have a Material Adverse  Effect or (ii) pursuant to a transaction permitted by Section 7.04 or Section 7.05.    Section 6.05 Maintenance of Properties. Except if the failure to do so could not,  individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (a) maintain,  preserve and protect all of its material properties and equipment necessary in the operation of its business  in good working order, repair and condition, ordinary wear and tear excepted and casualty or  condemnation excepted, and (b) make all necessary renewals, replacements, modifications,  improvements, upgrades, extensions and additions thereof or thereto in accordance with prudent industry  practice.    Section 6.06 Maintenance of Insurance. Maintain with financially sound and  reputable insurance companies, insurance with respect to its properties and business against loss or  damage of the kinds customarily insured against by Persons engaged in the same or similar business, of  such types and in such amounts (after giving effect to any self-insurance reasonable and customary for  similarly situated Persons engaged in the same or similar businesses as the Parents, the Borrower and the  Restricted Subsidiaries) as are customarily carried under similar circumstances by such other Persons.    Section 6.07 Compliance with Laws. Comply in all respects with the requirements  of all Laws and all orders, writs, injunctions, decrees and judgments applicable to it or to its business or  property (including without limitation Environmental Laws, ERISA, Sanctions Laws and Regulations and      -107-  #95982248v17   FCPA and other applicable anti-corruption laws), except if the failure to comply therewith could not,  individually or in the aggregate reasonably be expected to have a Material Adverse Effect.    Section 6.08 Books and Records. Maintain proper books of record and account, in  which entries that are full, true and correct in all material respects and are in conformity with GAAP  consistently applied shall be made of all material financial transactions and matters involving the assets  and business of such Parent, the Borrower or such Restricted Subsidiary, as the case may be.    Section 6.09 Inspection Rights. Permit representatives and independent  contractors of the Administrative Agent and each Lender to visit and inspect any of its properties and to  discuss its affairs, finances and accounts with its directors, managers, officers, and independent public  accountants, all at the reasonable expense of the Borrower and at such reasonable times during normal  business hours and as often as may be reasonably desired, upon reasonable advance notice to the  Borrower; provided that, excluding any such visits and inspections during the continuation of an Event of  Default, only the Administrative Agent on behalf of the Lenders may exercise rights of the Administrative  Agent and the Lenders under this Section 6.09 and the Administrative Agent shall not exercise such rights  more often than two (2) times during any calendar year absent the existence of an Event of Default and  only one (1) such time shall be at the Borrower’s expense; provided, further, that when an Event of  Default exists, the Administrative Agent or any Lender (or any of their respective representatives or  independent contractors) may do any of the foregoing at the expense of the Borrower at any time during  normal business hours and upon reasonable advance notice. The Administrative Agent and the Lenders  shall give the Borrower the opportunity to participate in any discussions with the Borrower’s independent  public accountants. Notwithstanding anything to the contrary in this Section 6.09, none of the Parents,  the Borrower or any Restricted Subsidiary will be required to disclose or permit the inspection or  discussion of, any document, information or other matter (i) that constitutes non-financial trade secrets or  non-financial proprietary information, (ii) in respect of which disclosure to the Administrative Agent or  any Lender (or their respective representatives or contractors) is prohibited by Law or any binding  agreement or (iii) that is subject to attorney client or similar privilege or constitutes attorney work  product.    Section 6.10 Covenant to Guarantee Obligations and Give Security. At the  Borrower’s expense, take all action necessary or reasonably requested by the Administrative Agent to  ensure that the Collateral and Guarantee Requirement continues to be satisfied, including:    (a) upon the formation or acquisition of any new direct or indirect Wholly Owned  Subsidiary (in each case, other than an Excluded Subsidiary) by any Loan Party, the designation in  accordance with Section 6.13 of any existing direct or indirect Wholly Owned Subsidiary as a Restricted  Subsidiary or any Excluded Subsidiary ceasing to be an Excluded Subsidiary or designation of any  Subsidiary as a Guarantor pursuant to the definition of Guarantors,    (i) within forty five (45) days after such formation, acquisition, designation or  occurrence or such longer period as the Administrative Agent may agree in its reasonable  discretion:    (A) 90 days following the Administrative Agent’s receipt of the notice of such  formation, acquisition, designation or occurrence, cause each such Restricted Subsidiary to duly  execute and deliver to the Administrative Agent or the Collateral Agent (as appropriate), pledges,  guarantees, assignments, Security Agreement Supplements and other security agreements and  documents or joinders or supplements thereto, as reasonably requested by and in form and  substance reasonably satisfactory to the Administrative Agent and the Collateral Agent (to the  extent applicable, consistent with the Security Agreement and other Collateral Documents in  -108-  





 






#95982248v17   effect on the Closing Date), in each case granting Liens required by the Collateral and Guarantee  Requirement;    (B) cause each such Restricted Subsidiary to deliver any and all certificates  representing Equity Interests (to the extent certificated) that are required to be pledged pursuant  to the Collateral and Guarantee Requirement, accompanied by undated stock powers or other  appropriate instruments of transfer executed in blank and (if applicable) instruments evidencing  the Indebtedness held by such Restricted Subsidiary and required to be pledged pursuant to the  Collateral Documents, indorsed in blank to the Collateral Agent; and    (C) take and cause such Restricted Subsidiary and each direct or indirect parent of  such Restricted Subsidiary that is required to become a Guarantor pursuant to the Collateral and  Guarantee Requirement to take whatever action (including the filing of financing statements and  delivery of stock and membership interest certificates) may be necessary in the reasonable  opinion of the Collateral Agent to vest in the Collateral Agent (or in any representative of the  Collateral Agent designated by it) valid and perfected Liens with the priority required by the  Collateral and Guarantee Requirement, enforceable against all third parties in accordance with  their terms, except as such enforceability may be limited by Debtor Relief Laws and by general  principles of equity (regardless of whether enforcement is sought in equity or at law).    Section 6.11 Use of Proceeds. Use the proceeds of any Credit Extension, whether  directly or indirectly, in a manner consistent with the uses set forth in the Preliminary Statements to this  Agreement.    Section 6.12 Further Assurances and Post-Closing Covenants.    (a) Promptly upon reasonable request by the Administrative Agent or the Collateral  Agent (i) correct any material defect or error that may be discovered in the execution, acknowledgment,  filing or recordation of any Collateral Document or other document or instrument relating to any  Collateral, and (ii) subject to the limitations set forth in the Collateral and Guarantee Requirement, do,  execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such  further acts, deeds, certificates, assurances and other instruments as the Administrative Agent or the  Collateral Agent may reasonably request from time to time in order to carry out more effectively the  purposes of this Agreement and the Collateral Documents; provided, however, that notwithstanding  anything to the contrary contained in this Agreement or any other Collateral Document, nothing in this  Agreement or any other Collateral Document shall require the Borrower or any other Loan Party to make  any filings or take any actions to record or to perfect the Collateral Agent’s security interest in (i) any IP  Rights other than UCC filings and the filing of documents effecting the recordation of security interests in  the United States Copyright Office or United States Patent and Trademark Office, or (ii) any non-United  States IP Rights;    (b) Within the time periods specified on Schedule 6.12 hereto (as each may be  extended by the Administrative Agent in its reasonable discretion), complete such undertakings as are set  forth on Schedule 6.12 hereto.    Section 6.13 Designation of Subsidiaries.    (a) Subject to Section 6.13(b) below, the Borrower may at any time designate any  Restricted Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted  Subsidiary. The designation of any Restricted Subsidiary as an Unrestricted Subsidiary shall constitute  an Investment by the applicable Loan Party therein at the date of designation in an amount equal to the  -109-  #95982248v17   fair market value of such Loan Party’s investment therein. The designation of any Unrestricted  Subsidiary as a Restricted Subsidiary shall constitute the incurrence at the time of designation of any  Indebtedness or Liens of such Subsidiary existing at such time.    (b) The Borrower may not (x) designate any Restricted Subsidiary as an Unrestricted  Subsidiary, or (y) designate an Unrestricted Subsidiary as a Restricted Subsidiary, in each case unless    (i) no Specified Event of Default shall have occurred or be continuing; and    (ii) in the case of clause (x) only, (A) the Subsidiary to be so designated does not  (directly, or indirectly through its Subsidiaries) own any Equity Interests or Indebtedness of, or  own or hold any Lien on any property of, any Parent, the Borrower or any Restricted Subsidiary  (unless such Restricted Subsidiary is also designated an Unrestricted Subsidiary) and (B) neither  the Borrower nor any Parent nor any Restricted Subsidiary shall at any time be directly or  indirectly liable for any Indebtedness that provides that the holder thereof may (with the passage  of time or notice or both) declare a default thereon or cause the payment thereof to be accelerated  or payable prior to its stated maturity upon the occurrence of a default with respect to any  Indebtedness, Lien or other obligation of any Unrestricted Subsidiary (including any right to take  enforcement action against such Unrestricted Subsidiary).    Section 6.14 Payment of Taxes. The Borrower will pay and discharge, and will  cause each of the Restricted Subsidiaries to pay and discharge, all Taxes imposed upon it or upon its  income or profits, or upon any properties belonging to it, in each case on a timely basis, and all lawful  claims which, if unpaid, may reasonably be expected to become a lien or charge upon any properties of  any Parent, the Borrower or any of the Restricted Subsidiaries not otherwise permitted under this  Agreement; provided that neither the Borrower nor any Parent nor any of the Restricted Subsidiaries shall  be required to pay any such Tax or claim which is being contested in good faith and by proper  proceedings if it has maintained adequate reserves with respect thereto in accordance with GAAP or  which would not reasonably be expected, individually or in the aggregate, to constitute a Material  Adverse Effect.    Section 6.15 Nature of Business. The Parents, Borrower and the Restricted  Subsidiaries will engage only in material lines of business substantially similar to those lines of business  conducted by the Parents, the Borrower and the Restricted Subsidiaries on the Closing Date or any  business reasonably related, complementary or ancillary thereto.    Section 6.16 Maintenance of Rating of the Borrower and the Facilities. The  Parents, the Borrower and the Restricted Subsidiaries shall use commercially reasonable efforts to  maintain (i) a public corporate credit rating and public corporate family rating (but not any particular  rating), as applicable, from any two of S&P, Moody’s and Fitch, in each case in respect of the Borrower  and (ii) a public rating (but not any particular rating) in respect of the Loans from any two of S&P,  Moody’s and Fitch.    Section 6.17 [Reserved].    ARTICLE VII    Negative Covenants    From and after the Closing Date and so long as any Lender shall have any Term  Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable shall  -110-  





 






#95982248v17   remain unpaid or unsatisfied (other than contingent indemnification obligations not yet due and payable),  the Parents and the Borrower shall not, nor shall they permit the Restricted Subsidiaries to:    Section 7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of  its property, assets or revenues, whether now owned or hereafter acquired, other than the following:    (a) Liens pursuant to any Loan Document;    (b) Liens existing on the Closing Date and set forth on Schedule 7.01(b);    (c) Liens for Taxes, assessments or governmental charges (i) which are not overdue  for a period of more than thirty (30) days, (ii) which are being contested in good faith and by appropriate  proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of  the applicable Person to the extent required in accordance with GAAP or (iii) the nonpayment of which  would not result in a breach of Section 6.14;    (d) statutory or common law Liens of landlords, carriers, warehousemen, mechanics,  materialmen, repairmen, construction contractors or other like Liens arising in the ordinary course of  business (i) which secure amounts not overdue for a period of more than thirty (30) days or if more than  thirty (30) days overdue, are unfiled (or, if, filed have been discharged or stayed) and no other action has  been taken to enforce such Lien or (ii) which are being contested in good faith and by appropriate  proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of  the applicable Person to the extent required in accordance with GAAP;    (e) (i) pledges, deposits or Liens arising as a matter of law in the ordinary course of  business in connection with workers’ compensation, payroll taxes, unemployment insurance and other  social security legislation and (ii) pledges and deposits in the ordinary course of business securing  liability for reimbursement or indemnification obligations of (including obligations in respect of letters of  credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or liability  insurance to any Parent, the Borrower or any Restricted Subsidiary;    (f) Liens incurred in the ordinary course of business to secure the performance of  bids, trade contracts, governmental contracts and leases (other than Indebtedness for borrowed money),  statutory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of  a like nature (including those to secure health, safety and environmental obligations);    (g) easements, rights-of-way, restrictions, covenants, conditions, encroachments,  protrusions and other similar encumbrances and minor title defects affecting real property which, in the  aggregate, do not in any case materially interfere with the ordinary conduct of the business of any Parent,  the Borrower or any Restricted Subsidiary;    (h) Liens securing judgments for the payment of money not constituting an Event of  Default under Section 8.01(h);    (i) Liens securing Indebtedness permitted under Section 7.03(f); provided that (i)  such Liens attach concurrently with or within two hundred and seventy (270) days after the acquisition,  construction, repair, replacement or improvement (as applicable) of the property subject to such Liens, (ii)  such Liens do not at any time encumber any property other than the property financed by such  Indebtedness, replacements thereof and additions and accessions to such property and the proceeds and  the products thereof and customary security deposits, and (iii) with respect to Capitalized Leases, such  Liens do not at any time extend to or cover any assets (except for additions and accessions to such assets,  -111-  #95982248v17   replacements and products thereof and customary security deposits) other than the assets subject to such  Capitalized Leases; provided that individual financings of equipment provided by one lender may be  cross-collateralized to other financings of equipment provided by such lender;    (j) leases, licenses, subleases or sublicenses and Liens on the property covered  thereby, in each case, granted to others in the ordinary course of business which do not (i) interfere in any  material respect with the business of any Parent, the Borrower or any Restricted Subsidiary, taken as a  whole, or (ii) secure any Indebtedness;    (k) Liens in favor of customs and revenue authorities arising as a matter of law to  secure payment of customs duties in connection with the importation of goods in the ordinary course of  business;    (l) Liens (i) of a collection bank (including those arising under Section 4-210 of the  Uniform Commercial Code) on the items in the course of collection and (ii) in favor of a banking or other  financial institution arising as a matter of law encumbering deposits or other funds maintained with a  financial institution (including the right of set off) and which are within the general parameters customary  in the banking industry;    (m) Liens (i) on cash advances in favor of the seller of any property to be acquired in  an Investment permitted pursuant to Section 7.02(j), (n), (t) or (y) to be applied against the purchase price  for such Investment and (ii) consisting of an agreement to Dispose of any property in a Disposition  permitted under Section 7.05, in each case, solely to the extent such Investment or Disposition, as the case  may be, would have been permitted on the date of the creation of such Lien;    (n) Liens in favor of the Borrower or a Restricted Subsidiary securing Indebtedness  permitted under Section 7.03(e); provided that any Lien in favor of a Restricted Subsidiary that is not a  Loan Party shall be a Lien ranking junior to the Lien on the Collateral securing the Obligations and such  Indebtedness may not be secured by any assets that are not Collateral;    (o) Liens existing on property at the time of its acquisition or existing on the  property of any Person at the time such Person becomes a Restricted Subsidiary (other than by  designation as a Restricted Subsidiary pursuant to Section 6.13), in each case after the Closing Date;  provided that (i) such Lien was not created in contemplation of such acquisition or such Person becoming  a Restricted Subsidiary, (ii) such Lien does not extend to or cover any other assets or property (other than  the proceeds or products thereof and other than after-acquired property subjected to a Lien securing  Indebtedness and other obligations incurred prior to such time and which Indebtedness and other  obligations are permitted hereunder that require, pursuant to their terms at such time, a pledge of  after-acquired property, it being understood that such requirement shall not be permitted to apply to any  property to which such requirement would not have applied but for such acquisition), and (iii) the  Indebtedness secured thereby is permitted under Section 7.03;    (p) any interest or title of a lessor or sublessor under leases or subleases entered into  by any Parent, the Borrower or any Restricted Subsidiary in the ordinary course of business;    (q) Liens, if any, arising out of conditional sale, title retention, consignment or  similar arrangements for sale of goods entered into by any Parent, the Borrower or any Restricted  Subsidiary in the ordinary course of business;    (r) Liens that are contractual rights of set-off (i) relating to the establishment of  depository relations with banks or other financial institutions not given in connection with the incurrence  -112-  





 






#95982248v17   of Indebtedness, (ii) relating to pooled deposit or sweep accounts of any Parent, the Borrower or any  Restricted Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary  course of business of any Parent, the Borrower or any Restricted Subsidiary or (iii) relating to purchase  orders and other agreements entered into with customers of any Parent, the Borrower or any Restricted  Subsidiary in the ordinary course of business;    (s) Liens, if any, arising from precautionary Uniform Commercial Code financing  statement filings;    (t) Liens on insurance policies and the proceeds thereof securing the financing of the  premiums with respect thereto;    (u) any zoning or similar law or right reserved to or vested in any Governmental  Authority to control or regulate the use of any real property that does not materially interfere with the  ordinary conduct of the business of any Parent, the Borrower or any Restricted Subsidiary;    (v) Liens on specific items of inventory or other goods and the proceeds thereof  securing such Person’s obligations in respect of documentary letters of credit issued for the account of  such Person to facilitate the purchase, shipment or storage of such inventory or goods;    (w) the modification, replacement, renewal or extension of any Lien permitted by  clauses (b), (i) and (o) of this Section 7.01; provided that (i) the Lien does not extend to any additional  property other than (A) after-acquired property that is affixed or incorporated into the property covered  by such Lien or financed by Indebtedness permitted under Section 7.03, and (B) proceeds and products  thereof; and (ii) the renewal, extension or refinancing of the obligations secured or benefited by such  Liens is permitted by Section 7.03;    (x) ground leases in respect of real property on which facilities owned or leased by  any Parent, the Borrower or any Restricted Subsidiary are located;    (y) Liens on property of a Non-Loan Party securing Indebtedness or other  obligations of such Non-Loan Party;    (z) Liens solely on any cash earnest money deposits made by any Parent, the  Borrower or any Restricted Subsidiary in connection with any letter of intent or purchase agreement  permitted hereunder;    (aa)  Liens securing Indebtedness permitted pursuant to Section 7.03(t); provided that  such Liens may be either a Lien (i) on the Collateral that is pari passu with the Lien securing the  Obligations or (ii) ranking junior to the Lien on the Collateral securing the Obligations, and, in each case,  the beneficiaries thereof (or an agent on their behalf) shall have entered into the Applicable Intercreditor  Agreement; provided that such Liens may not be on any assets that are not Collateral;    (bb) Liens securing Indebtedness permitted pursuant to Section 7.03(m);    (cc) other Liens securing Indebtedness or other obligations in an aggregate principal  amount at any time outstanding not to exceed the greater of (x) $80,000,00085,000,000 and (y) 40% of  Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for the most recently  ended Test Period calculated on a Pro Forma Basis;      -113-  #95982248v17   (dd) Liens securing Indebtedness permitted pursuant to Section 7.03(w) and (y);  provided that such Liens may be either a Lien on the Collateral that is pari passu with the Lien securing  the Obligations or a Lien ranking junior to the Lien on the Collateral securing the Obligations (but may  not be secured by any assets that are not Collateral) and, in any such case, the beneficiaries thereof (or an  agent on their behalf) shall have entered into the Applicable Intercreditor Agreement;    (ee)   Liens securing Indebtedness permitted pursuant to Section 7.03(v); provided that,  (i) such Liens shall only secure the obligations secured on the date of the related Permitted Acquisition or  other Investment and such liens shall not extend to any other property of the Parents, the Borrower and  the Restricted Subsidiaries and (ii) to the extent such Liens are on the Collateral, the beneficiaries thereof  (or an agent on their behalf) shall have entered into the Applicable Intercreditor Agreement;    (ff)  Liens on the Collateral securing Indebtedness permitted pursuant to Section  7.03(b); provided that in the case of Indebtedness permitted pursuant to Section 7.03(b)(A) and any  Permitted Refinancing thereof, the representative in respect thereof shall have entered into the Applicable  Intercreditor Agreement, which shall provide that (i) the Liens on the ABL Priority Collateral securing  such Indebtedness may be pari passu or senior to the Liens on the ABL Priority Collateral securing the  Obligations and (ii) the Liens on the Term Priority Collateral securing such Indebtedness shall be junior  to the Liens on the Term Priority Collateral securing the Obligations;    (gg) with respect to any Foreign Subsidiary, other Liens and privileges arising  mandatorily by Law;    (hh) Liens on receivables and related assets arising in connection with a Permitted  Receivables Financing;    (ii) Liens securing Indebtedness permitted to be secured pursuant to Section 7.03(r);  provided that to the extent such Liens are on the Collateral, (i) such Liens may be either a Lien that is pari  passu with the Lien securing the Obligations or a Lien ranking junior to the Lien securing the Obligations  and (ii) the beneficiaries thereof (or an agent on their behalf) shall have entered into the Applicable  Intercreditor Agreement; and    (jj)  Liens on the Equity Interests of JV Entities securing financing arrangements for  the benefit of the applicable JV Entity that are not otherwise prohibited under this Agreement.    Section 7.02 Investments. Make any Investments, except:    (a) Investments by any Parent, the Borrower or any Restricted Subsidiary in assets  that were Cash Equivalents when such Investment was made;    (b) loans or advances to officers, directors, managers, partners and employees of any  Parent (or any direct or indirect parent thereof), any Intermediate Holding Company, the Borrower or the  Restricted Subsidiaries (i) for reasonable and customary business-related travel, entertainment, relocation,  customary fringe benefits and analogous ordinary business purposes, (ii) in connection with such Person’s  purchase of Equity Interests of any Parent (or any direct or indirect parent thereof or any Intermediate  Holding Company or the Borrower) (provided that the proceeds of any such loans and advances shall be  contributed to the Borrower in cash as common equity) and (iii) for purposes not described in the  foregoing clauses (i) and (ii), in an aggregate principal amount outstanding not to exceed the greater of  (x) $20,000,00021,250,000 and (y) 10% of Consolidated EBITDA of the Parents, the Borrower and the  Restricted Subsidiaries for the most recently ended Test Period calculated on a Pro Forma Basis;    -114-  





 






#95982248v17   (c) asset purchases (including purchases of inventory, supplies and materials) and  the licensing or contribution of intellectual property pursuant to joint marketing arrangements with other  Persons, in each case in the ordinary course of business;    (d) Investments (i) by any Loan Party in any other Loan Party (other than any  Parent), (ii) by any Non-Loan Party in any Loan Party (other than any Parent), (iii) by any Non-Loan  Party in any other Non-Loan Party and (iv) by any Loan Party in any Non-Loan Party; provided that the  aggregate amount of such Investments in Non-Loan Parties pursuant to clause (iv) shall not exceed in an  aggregate amount, as valued at cost at the time each such Investment is made and including all related  commitments for future Investments, (A) the greater of (x) $60,000,00063,750,000 and (y) 30% of  Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for the most recently  ended Test Period calculated on a Pro Forma Basis (excluding any Investments received in respect of, or  consisting of, the transfer or contribution of Equity Interests in or Indebtedness of any Foreign Subsidiary  to any other Foreign Subsidiary), plus (B) an amount equal to any returns of capital or sale proceeds  actually received in cash in respect of any such Investments (which amount shall not exceed the amount  of such Investment valued at cost at the time such Investment was made); provided that any such amounts  under this clause (B) shall not increase the Available Amount, it being understood that any returns of  capital or sale proceeds actually received in cash in respect of any such Investments in excess of the  amount of such Investment valued at cost at the time such Investment was made shall increase the  Available Amount (to the extent such excess amount of returns or proceeds would otherwise increase the  Available Amount pursuant to the definition thereof);    (e) Investments consisting of extensions of credit in the nature of accounts  receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and  Investments received in satisfaction or partial satisfaction thereof from financially troubled account  debtors and other credits to suppliers in the ordinary course of business;    (f) Investments consisting of Liens, Indebtedness, fundamental changes,  Dispositions and Restricted Payments (other than, in each case, by reference to this Section 7.02)  permitted under Section 7.01, Section 7.03, Section 7.04, Section 7.05 and Section 7.06, respectively;    (g) Investments existing on the Closing Date and set forth on Schedule 7.02 and any  modification, replacement, renewal, reinvestment or extension of any such Investments; provided that the  amount of any Investment permitted pursuant to this Section 7.02(g) is not increased from the amount of  such Investment on the Closing Date except pursuant to the terms of such Investment as of the Closing  Date or as otherwise permitted by this Section 7.02;    (h) Investments in Swap Contracts permitted under Section 7.03(g);    (i) promissory notes and other noncash consideration received in connection with  Dispositions permitted by Section 7.05;    (j) the purchase or other acquisition of property and assets or businesses of any  Person or of assets constituting a business unit, a line of business or division of such Person, or Equity  Interests in a Person that, upon the consummation thereof, will be a Restricted Subsidiary (including as a  result of a merger or consolidation) (or such assets will be contributed to a Parent, the Borrower or a  Restricted Subsidiary) (each, a “Permitted Acquisition”) and together with any Investments in Restricted  Subsidiaries necessary to consummate a transaction otherwise permitted by this clause (j); provided that  (i) immediately after giving Pro Forma Effect to any such purchase or other acquisition, no Default or  Event of Default shall have occurred and be continuing (provided that in the case of any Limited  Condition Transaction, no Specified Event of Default shall also have occurred and be continuing at the  -115-  #95982248v17   time of consummation thereof), (ii) after giving effect to any such purchase or other acquisition, the  Borrower shall be in compliance with the covenant in Section 6.15 and (iii) to the extent required by the  Collateral and Guarantee Requirement, (A) the property, assets and businesses acquired in such purchase  or other acquisition shall become Collateral and (B) any such newly created or acquired Restricted  Subsidiary (other than an Excluded Subsidiary) shall become Guarantors, in each case in accordance with  Section 6.10;    (k) [reserved];    (l) Investments in the ordinary course of business consisting of endorsements for  collection or deposit and customary trade arrangements with customers consistent with past practices;    (m) Investments (including debt obligations and Equity Interests) received in  connection with the bankruptcy or reorganization of suppliers and customers or in settlement of  delinquent obligations of, or other disputes with, customers and suppliers arising in the ordinary course of  business or upon the foreclosure with respect to any secured Investment or other transfer of title with  respect to any secured Investment;    (n) Investments as valued at cost at the time each such Investment is made and  including all related commitments for future Investments, in an amount not exceeding (i) the Available  Amount (provided that at the time of any such Investment in reliance on clause (b) of the definition of  “Available Amount”, no Specified Event of Default shall have occurred and be continuing or would result  therefrom) and/or (ii) the Excluded Contribution Amount;    (o) advances of payroll payments to employees in the ordinary course of business;    (p) loans and advances to any direct or indirect parent of any Parent in lieu of, and  not in excess of the amount of (after giving effect to any other such loans or advances or Restricted  Payments in respect thereof), Restricted Payments to the extent permitted to be made to such direct or  indirect parent in accordance with Section 7.06; provided that any such loan or advance shall reduce the  amount of such applicable Restricted Payment thereafter permitted under Section 7.06 by a corresponding  amount (if such applicable provision of Section 7.06 contains a maximum amount);    (q) Investments held by a Restricted Subsidiary acquired after the Closing Date or of  a corporation or company merged into any Parent or the Borrower or merged or consolidated with any  Restricted Subsidiary in accordance with Section 7.04 after the Closing Date to the extent that such  Investments were not made in contemplation of or in connection with such acquisition, merger or  consolidation and were in existence on the date of such acquisition, merger or consolidation;    (r) Guarantee Obligations of any Parent, the Borrower or any Restricted Subsidiary  in respect of leases (other than Capitalized Leases) or of other obligations that do not constitute  Indebtedness, in each case entered into in the ordinary course of business;    (s) Investments to the extent that payment for such Investments is made solely with  Qualified Equity Interests (other than any Cure Amounts or Excluded Contribution Amount);    (t) other Investments in an aggregate amount, as valued at cost at the time each such  Investment is made and including all related commitments for future Investments, not exceeding (i) the  greater of (x) $80,000,00085,000,000 and (y) 40% of Consolidated EBITDA of the Parents, the Borrower  and the Restricted Subsidiaries for the most recently ended Test Period calculated on a Pro Forma Basis,  plus (ii) an amount equal to any returns of capital or sale proceeds actually received in cash in respect of  -116-  





 






#95982248v17   any such Investments (which amount shall not exceed the amount of such Investment valued at cost at the  time such Investment was made); provided that any such amounts under this clause (ii) shall not increase  the Available Amount, it being understood that any returns of capital or sale proceeds actually received in  cash in respect of any such Investments in excess of the amount of such Investment valued at cost at the  time such Investment was made shall increase the Available Amount (to the extent such excess amount of  returns or proceeds would otherwise increase the Available Amount pursuant to the definition thereof);    (u) Investments in JV Entities and Unrestricted Subsidiaries in an aggregate amount,  as valued at cost at the time each such Investment is made and including all related commitments for  future Investments, not exceeding (i) the greater of (x) $80,000,00085,000,000 and (y) 40% of  Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for the most recently  ended Test Period calculated on a Pro Forma Basis, plus (ii) an amount equal to any returns of capital or  sale proceeds actually received in cash in respect of any such Investments (which amount shall not exceed  the amount of such Investment valued at cost at the time such Investment was made); provided that any  such amounts under this clause (ii) shall not increase the Available Amount, it being understood that any  returns of capital or sale proceeds actually received in cash in respect of any such Investments in excess  of the amount of such Investment valued at cost at the time such Investment was made shall increase the  Available Amount (to the extent such excess amount of returns or proceeds would otherwise increase the  Available Amount pursuant to the definition thereof);    (v) Investments in connection with a Permitted Receivables Financing;    (w) contributions to a “rabbi” trust for the benefit of employees or other grantor trust  subject to claims of creditors in the case of a bankruptcy of the Borrower;    (x) Investments by an Unrestricted Subsidiary entered into prior to the day such  Unrestricted Subsidiary is redesignated as a Restricted Subsidiary pursuant to the definition of  “Unrestricted Subsidiary”; provided that such Investments were not incurred in contemplation of such  redesignation;    (y) other Investments; provided that, at the time of such Investment, (i) no Default or  Event of Default has occurred and is continuing and (ii) the Total Leverage Ratio of the Parents, the  Borrower and the Restricted Subsidiaries as of the end of the most recently ended Test Period, on a Pro  Forma Basis, would be no greater than 4.00:1.00;    (z) transactions entered into in order to consummate a Permitted Tax Restructuring;  (aa)  [reserved]; and  (bb)  loans and advances to the Distribution Asset Transferee in an aggregate principal  amount at any time outstanding not to exceed $30,000,00032,000,000.    Section 7.03 Indebtedness. Create, incur, assume or suffer to exist any  Indebtedness, except:    (a) Indebtedness of any Parent, the Borrower and any of the Restricted Subsidiaries  under the Loan Documents;    (b) (A) Indebtedness incurred pursuant to the ABL Facility in an aggregate principal  amount not to exceed the sum of (i) the greater of $100,000,000175,000,000 and the Borrowing Base (as  defined in the ABL Facility as in effect on the SecondFourth Amendment Effective Date) plus (ii)  -117-  #95982248v17   Incremental Loans (as defined in the ABL Facility as in effect on the SecondFourth Amendment Effective  Date) plus (iii) all accrued interest, fees, expenses and other non-principal ABL Obligations with respect  thereto and (B) any Permitted Refinancing of the Indebtedness described in clause (b)(A) above;    (c) (i) Surviving Indebtedness listed on Schedule 7.03(c) and (ii) any Permitted  Refinancing of any of the foregoing;    (d) Guarantee Obligations of the Parents, the Borrower and the Restricted  Subsidiaries in respect of Indebtedness of any Parent, the Borrower or any Restricted Subsidiary  otherwise permitted hereunder (except that Non-Loan Parties may not, by virtue of this Section 7.03(d),  guarantee Indebtedness that such Non-Loan Parties could not otherwise incur under this Section 7.03);  provided that, if the Indebtedness being guaranteed is subordinated to the Obligations, such Guarantee  Obligation shall be subordinated to the Guarantee of the Obligations on terms at least as favorable to the  Lenders as those contained in the subordination of such Indebtedness;    (e) Indebtedness of any Parent, the Borrower or any Restricted Subsidiary owing to  any Parent, the Borrower or any Restricted Subsidiary to the extent constituting an Investment permitted  by Section 7.02; provided that all such Indebtedness of any Loan Party owed to any Person that is not a  Loan Party shall be subject to the subordination terms set forth in Section 3.01 of the Guaranty;    (f) (i) Attributable Indebtedness and other Indebtedness financing the acquisition,  construction, repair, replacement or improvement of fixed or capital assets (provided that such  Indebtedness is incurred concurrently with or within two hundred seventy (270) days after the applicable  acquisition, construction, repair, replacement or improvement), (ii) Attributable Indebtedness arising out  of Permitted Sale Leasebacks in an aggregate principal amount not to exceed at any one time outstanding  the greater of (x) $60,000,00063,750,000 and (y) 30% of Consolidated EBITDA of the Parents, the  Borrower and the Restricted Subsidiaries for the most recently ended Test Period calculated on a Pro  Forma Basis and (iii) any Permitted Refinancing of any Indebtedness set forth in the immediately  preceding clauses (i) and (ii); provided that, the aggregate principal amount of Indebtedness (including  without limitation Attributable Indebtedness, but excluding Attributable Indebtedness incurred pursuant  to clause (ii) and excluding any such Indebtedness outstanding as of the Fourth Amendment Effective  Date) under this Section 7.03(f) does not exceed the greater of (x) $100,000,000106,250,000 and (y) 50%  of Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for the most  recently ended Test Period calculated on a Pro Forma Basis;    (g) Indebtedness in respect of Swap Contracts (i) entered into to hedge or mitigate  risks to which any Parent, Borrower or any Subsidiary has actual or anticipated exposure (other than  those in respect of shares of capital stock or other equity ownership interests of any Parent, the Borrower  or any Subsidiary), (ii) entered into in order to effectively cap, collar or exchange interest rates (from  fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any  interest-bearing liability or investment of any Parent, the Borrower or any Subsidiary and (iii) entered into  to hedge commodities, currencies, general economic conditions, raw materials prices, revenue streams or  business performance;    (h) [reserved];    (i) Indebtedness representing deferred compensation to employees of any Parent (or  any direct or indirect parent of any Parent), the Borrower and the Restricted Subsidiaries incurred in the  ordinary course of business;      -118-  





 






#95982248v17   (j) Indebtedness to current or former officers, directors, partners, managers,  consultants and employees, their respective estates, spouses or former spouses to finance the purchase or  redemption of Equity Interests of any Parent (or any direct or indirect parent thereof) permitted by  Section 7.06 in an aggregate amount not to exceed $30,000,00032,000,000 at any one time outstanding;    (k) Indebtedness incurred by any Parent, the Borrower or any of the Restricted  Subsidiaries in the Transactions, a Permitted Acquisition, any other Investment expressly permitted  hereunder or any Disposition, in each case to the extent constituting indemnification obligations or  obligations in respect of purchase price (including earn-outs) or other similar adjustments;    (l) Indebtedness consisting of obligations of any Parent, the Borrower or any of the  Restricted Subsidiaries under deferred compensation or other similar arrangements incurred by such  Person in connection with the Transaction and Permitted Acquisitions or any other Investment expressly  permitted hereunder;    (m) Cash Management Obligations and other Indebtedness in respect of netting  services, automatic clearinghouse arrangements, overdraft protections and similar arrangements in each  case incurred in the ordinary course;    (n) Indebtedness consisting of (a) the financing of insurance premiums or (b) take or  pay obligations contained in supply arrangements, in each case, in the ordinary course of business;    (o) Indebtedness incurred by any Parent, the Borrower or any of the Restricted  Subsidiaries in respect of letters of credit, bank guarantees, bankers’ acceptances, warehouse receipts or  similar instruments issued or created in the ordinary course of business, including in respect of workers  compensation claims, health, disability or other employee benefits or property, casualty or liability  insurance or self-insurance or other Indebtedness with respect to reimbursement-type obligations  regarding workers compensation claims;    (p) obligations in respect of performance, bid, appeal and surety bonds and  performance and completion guarantees and similar obligations provided by any Parent, the Borrower or  any of the Restricted Subsidiaries or obligations in respect of letters of credit, bank guarantees or similar  instruments related thereto, in each case in the ordinary course of business or consistent with past  practice;    (q) Indebtedness supported by a Letter of Credit (as defined in the ABL Credit  Agreement) in a principal amount not to exceed the face amount of such Letter of Credit (as defined in  the ABL Credit Agreement);    (r) (i) other Indebtedness of any Parent, the Borrower or any Restricted Subsidiary  in an unlimited amount, so long as (A) if such Indebtedness is secured by any Liens on the Collateral  (other than Liens that are junior to the Liens securing the Obligations), the First Lien Senior Secured  Leverage Ratio (calculated on a Pro Forma Basis but excluding the cash proceeds therefrom) as of the last  day of the most recently ended Test Period is not greater than either (x) 4.00:1.00 or (y) if such  Indebtedness is incurred to finance a Permitted Acquisition or any other similar Investment not prohibited  hereunder, the First Lien Senior Secured Leverage Ratio (calculated on a Pro Forma Basis but excluding  the cash proceeds therefrom), immediately prior to the consummation of such Permitted Acquisition or  other similar Investment and the incurrence of such Indebtedness; provided, that if such Indebtedness is  incurred in the form of Qualifying Term Loans, it shall be subject to the MFN Adjustment, (B) if such  Indebtedness is secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, the  Senior Secured Leverage Ratio (calculated on a Pro Forma Basis but excluding the cash proceeds  -119-  #95982248v17   therefrom) as of the last day of the most recently ended Test Period is not greater than either (x) 5.00:1.00  or (y) if such Indebtedness is incurred to finance a Permitted Acquisition or any other similar Investment  not prohibited hereunder, the Senior Secured Leverage Ratio (calculated on a Pro Forma Basis but  excluding the cash proceeds therefrom), immediately prior to the consummation of such Permitted  Acquisition or other similar Investment and the incurrence of such Indebtedness and (C) if such  Indebtedness is unsecured or secured by assets that do not constitute Collateral, the Total Leverage Ratio  (calculated on a Pro Forma Basis but excluding the cash proceeds therefrom) as of the last day of the most  recently ended Test Period is not greater than either (x) 5.50:1.00 or (y) if such Indebtedness is incurred  to finance a Permitted Acquisition or any other similar Investment not prohibited hereunder, the Total  Leverage Ratio (calculated on a Pro Forma Basis but excluding the cash proceeds therefrom) immediately  prior to the consummation of such Permitted Acquisition or other Investment and the incurrence of such  Indebtedness (provided that, with respect to all Indebtedness of this clause (r), (1) such Indebtedness shall  not mature prior to the date that is ninety one (91) days after the Maturity Date of the Initial Term Loans  or have a Weighted Average Life to Maturity less than the Weighted Average Life to Maturity of the  Initial Term Loans plus ninety one (91) days, provided that the foregoing requirements of this clause (1)  shall not apply (x) to any Inside Maturity Debt and (y) to the extent such Indebtedness constitutes a  customary bridge facility, so long as the long-term Indebtedness into which such customary bridge  facility is to be converted or exchanged satisfies the requirements of this clause (1), (2) such Indebtedness  shall not have mandatory prepayment, redemption or offer to purchase events more onerous than those  applicable to the Initial Term Loans, provided that the foregoing requirements of this clause (2) shall not  apply (x) to any Inside Maturity Debt and (y) to the extent such Indebtedness constitutes a customary  bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be  converted or exchanged satisfies the requirements of this clause (2), (3) the other terms and conditions of  such Indebtedness (excluding pricing and optional prepayment or redemption terms), if not consistent  with the terms of the Initial Term Loans, shall not be materially more restrictive to the Loan Parties when  taken as a whole (as reasonably determined by the Borrower) than the terms of the Initial Term Loans  (other than any terms and conditions that (x) apply only to periods after the then Latest Maturity Date  with respect to the Term Loans, (y) are otherwise added for the benefit of the Term Lenders hereunder or  (z) are otherwise reasonably satisfactory to the Administrative Agent) and (4) the maximum aggregate  principal amount of Indebtedness that may be incurred pursuant to this Section 7.03(r) by Non-Loan  Parties shall not exceed the greater of (x) $40,000,00042,500,000 and (y) 20% of Consolidated EBITDA  of the Parents, the Borrower and the Restricted Subsidiaries for the most recently ended Test Period at  any one time outstanding); and (ii) any Permitted Refinancing of Indebtedness incurred under the  foregoing clause (r)(i);    (s) Indebtedness incurred by a Non-Loan Party, and guarantees thereof by Non-Loan  Party, in an aggregate principal amount not to exceed the greater of (x) $40,000,00042,500,000 and (y)  20% of Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for the most  recently ended Test Period at any one time outstanding;    (t) (i) Indebtedness (in the form of senior secured, senior unsecured, senior  subordinated, or subordinated notes or loans) incurred by the Borrower to the extent that the Borrower  shall have been permitted to incur such Indebtedness pursuant to, and such Indebtedness shall be deemed  to be incurred in reliance on, Section 2.14; provided that (A) subject to Section 1.09, upon the  effectiveness of such Indebtedness, no Default or Event of Default has occurred and is continuing or shall  result therefrom (provided that in the case of Indebtedness the proceeds of which are used to finance a  Limited Condition Transaction, no Specified Event of Default shall be continuing at the time such  Limited Condition Transaction is consummated), (B) such Indebtedness shall not mature earlier than the  Maturity Date applicable to the Term Loans, provided that the foregoing requirements of this clause (B)  shall not apply (x) to any Inside Maturity Debt and (y) to the extent such Indebtedness constitutes a  customary bridge facility, so long as the long-term Indebtedness into which such customary bridge  -120-  





 






#95982248v17   facility is to be converted or exchanged satisfies the requirements of this clause (B), (C) as of the date of  the incurrence of such Indebtedness, the Weighted Average Life to Maturity of such Indebtedness shall  not be shorter than that of the Term Loans, provided that the foregoing requirements of this clause (C)  shall not apply (x) to any Inside Maturity Debt and (y) to the extent such Indebtedness constitutes a  customary bridge facility, so long as the long-term Indebtedness into which such customary bridge  facility is to be converted or exchanged satisfies the requirements of this clause (C), (D) no Restricted  Subsidiary is a borrower or guarantor with respect to such Indebtedness unless such Restricted Subsidiary  is a Subsidiary Guarantor which shall have previously or substantially concurrently guaranteed the  Obligations, (E) the other terms and conditions of such Indebtedness (excluding pricing and optional  prepayment or redemption terms), if not consistent with the terms of the Initial Term Loans, shall not be  materially more restrictive to the Loan Parties when taken as a whole (as reasonably determined by the  Borrower) than the terms of the Initial Term Loans (other than any terms and conditions that (x) apply  only to periods after the then Latest Maturity Date with respect to the Term Loans, (y) are otherwise  added for the benefit of the Term Lenders hereunder or (z) are otherwise reasonably satisfactory to the  Administrative Agent), (F) if such Indebtedness is in the form of a Qualifying Term Loan of the Loan  Parties and is secured by a Lien on the Collateral that is pari passu with the Lien securing the  Obligations, it shall be subject to the MFN Adjustment (if any), (G) if such Indebtedness is to be incurred  under the Incremental Incurrence Test, and such Indebtedness is secured by a Lien on the Collateral that  is junior to the Liens securing the Obligations, is unsecured or is secured by assets that do not constitute  Collateral, then the First Lien Senior Secured Leverage Ratio set forth in Section 2.14(a)(iii) shall be  deemed replaced with (1) in the case of any such junior lien Indebtedness, a Senior Secured Leverage  Ratio (calculated on a Pro Forma Basis but excluding the cash proceeds therefrom) as of the end of the  most recent Test Period that does not exceed either (x) 5.00:1.00 or (y) if such Indebtedness is incurred to  finance a Permitted Acquisition or any other similar Investment not prohibited hereunder, the Senior  Secured Leverage Ratio (calculated on a Pro Forma Basis but excluding the cash proceeds therefrom),  immediately prior to the consummation of such Permitted Acquisition or other similar Investment and the  incurrence of such Indebtedness and (2) in the case of any such unsecured Indebtedness or Indebtedness  secured by assets that do not constitute Collateral, the Total Leverage Ratio (calculated on a Pro Forma  Basis but excluding the cash proceeds therefrom) as of the last day of the most recently ended Test Period  that does not exceed either (x) 5.50:1.00 or (y) if such Indebtedness is incurred to finance a Permitted  Acquisition or any other similar Investment not prohibited hereunder, the Total Leverage Ratio  (calculated on a Pro Forma Basis but excluding the cash proceeds therefrom), immediately prior to the  consummation of such Permitted Acquisition or other similar Investment and the incurrence of such  Indebtedness (such Indebtedness incurred pursuant to this clause (t) being referred to as “Permitted  Alternative Incremental Facilities Debt”) and (ii) any Permitted Refinancing of Indebtedness incurred  under the foregoing clause (t)(i);    (u) additional Indebtedness in an aggregate principal amount not to exceed the  greater of (x) $100,000,000106,250,000 and (y) 50% of Consolidated EBITDA of the Parents, the  Borrower and the Restricted Subsidiaries for the most recently ended Test Period at any one time  outstanding and calculated on a Pro Forma Basis;    (v) Indebtedness assumed in connection with a Permitted Acquisition or other  Investment not prohibited hereunder and not created in contemplation thereof, so long as either (A) such  Indebtedness would have been permitted to have been incurred under Section 7.03(r) or (B) the aggregate  principal amount of such Indebtedness does not exceed the greater of (x) $80,000,00085,000,000 and (y)  40% of Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for the most  recently ended Test Period at any time outstanding;    (w) (i) Indebtedness (in the form of senior secured, senior unsecured, senior  subordinated, or subordinated notes or loans) incurred by the Borrower to the extent that 100% of the Net  -121-  #95982248v17   Cash Proceeds therefrom are, immediately after the receipt thereof, applied solely to the prepayment of  Term Loans in accordance with Section 2.05(b)(iii); provided that (A) such Indebtedness shall not mature  earlier than the Maturity Date with respect to the relevant Term Loans being refinanced, provided that the  foregoing requirements of this clause (A) shall not apply to any Inside Maturity Debt, (B) as of the date of  the incurrence of such Indebtedness, the Weighted Average Life to Maturity of such Indebtedness shall  not be shorter than that of then-remaining Term Loans being refinanced, provided that the foregoing  requirements of this clause (B) shall not apply to any Inside Maturity Debt, (C) no Restricted Subsidiary  is a borrower or guarantor with respect to such Indebtedness unless such Restricted Subsidiary is a  Subsidiary Guarantor which shall have previously or substantially concurrently guaranteed the  Obligations, (D) the other terms and conditions of such Indebtedness (excluding pricing and optional  prepayment or redemption terms), if not consistent with the terms of the Initial Term Loans, shall not be  materially more restrictive to the Loan Parties when taken as a whole (as reasonably determined by the  Borrower) than the terms of the Initial Term Loans (other than any terms and conditions that (x) apply  only to periods after the then Latest Maturity Date with respect to the Term Loans being refinanced, (y)  are otherwise added for the benefit of the Term Lenders hereunder or (z) are otherwise reasonably  satisfactory to the Administrative Agent) and such Indebtedness shall not participate in mandatory  prepayments on a greater than pro rata basis with the Term Loans and (E) the Borrower has delivered to  the Administrative Agent a certificate of a Responsible Officer of the Borrower, together with all relevant  financial information reasonably requested by the Administrative Agent, including reasonably detailed  calculations demonstrating compliance with clauses (A), (B), (C) and (D) and (ii) any Permitted  Refinancing of Indebtedness incurred under the foregoing clause (w)(i);    (x) Indebtedness with respect to any Permitted Receivables Financing;    (y) Indebtedness in respect of Permitted Debt Exchange Notes incurred pursuant to a  Permitted Debt Exchange in accordance with Section 2.17 and any Permitted Refinancing thereof;  (z) unsecured Contribution Indebtedness (and any Permitted Refinancing thereof);  (aa) all premiums (if any), interest (including post-petition interest), fees, expenses,  charges and additional or contingent interest on obligations described in clauses (a) through (z) above.    For purposes of determining compliance with this Section 7.03, in the event that an item  of Indebtedness meets the criteria of more than one of the categories of Indebtedness described in clauses  (a) through (aa) above, the Borrower may, in its sole discretion, classify and reclassify or later divide,  classify or reclassify such item of Indebtedness (or any portion thereof) and will only be required to  include the amount and type of such Indebtedness in one or more of the above clauses; provided that all  Indebtedness outstanding under the Loan Documents will be deemed to have been incurred in reliance  only on the exception in clause (a) of this Section 7.03 and the ABL Facility and any Permitted  Refinancing thereof, will be deemed to have been incurred in reliance only on the exception set forth in  clause (b) of this Section 7.03.    The accrual of interest, the accretion of accreted value and the payment of interest in the  form of additional Indebtedness shall not be deemed to be an incurrence of Indebtedness for purposes of  this Section 7.03.    Section 7.04 Fundamental Changes. Merge, amalgamate, dissolve, liquidate,  consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of  transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor  of any Person (including, in each case, pursuant to a Division), except that:    -122-  





 






#95982248v17   (a) any Restricted Subsidiary may merge or amalgamate with (i) the Borrower  (provided that the resulting entity shall succeed as a matter of law to all of the Obligations of the  Borrower), (ii) any one or more Restricted Subsidiaries (provided that when any Restricted Subsidiary  that is a Loan Party is merging or amalgamating with another Restricted Subsidiary, a Loan Party shall be  a continuing or surviving Person, as applicable, or the resulting entity shall succeed as a matter of law to  all of the Obligations of such Loan Party (including, without limitation, as the Borrower)) and (iii) in  order to consummate a Permitted Tax Restructuring;    (b) (i) any Restricted Subsidiary that is not a Loan Party may merge, amalgamate or  consolidate with or into any other Restricted Subsidiary that is not a Loan Party, (ii) (A) any Restricted  Subsidiary may liquidate, dissolve or wind up, or (B) any Restricted Subsidiary may change its legal  form, in each case, if the Borrower determines in good faith that such action is in the best interests of the  Parents, the Borrower and the other Subsidiaries and is not materially disadvantageous to the Lenders and  (iii) the Borrower may change its legal form if it determines in good faith that such action is in the best  interests of the Parents, the Borrower and the other Restricted Subsidiaries and the Administrative Agent  reasonably determines it is not disadvantageous to the Lenders;    (c) any Restricted Subsidiary may Dispose of all or substantially all of its assets  (upon voluntary liquidation or otherwise) to another Restricted Subsidiary; provided that if the transferor  in such a transaction is a Loan Party, then either (i) the transferee must be a Loan Party or (ii) to the  extent constituting an Investment, such Investment must be a permitted Investment in or Indebtedness of a  Restricted Subsidiary that is not a Loan Party in accordance with Section 7.02 and Section 7.03,  respectively;    (d) so long as no Event of Default exists or would result therefrom, the Borrower  may merge or amalgamate with any other Person (1) in a transaction in which the Borrower is the  continuing or surviving entity of such transaction or (2) in a transaction in which such other Person is the  surviving or continuing entity of such transaction (such person, the “Successor Borrower”); provided that,  in the case of this clause (2), (i) such Successor Borrower is organized under the laws of the United  States; (ii) such Successor Borrower shall assume the Obligations of the Borrower under the Loan  Documents; (iii) each Guarantor shall have confirmed that its Guaranty shall apply to the Successor  Borrower’s obligations under the Loan Documents; (iv) each Guarantor shall have by a supplement to the  Security Agreement and other applicable Collateral Documents confirmed that its obligations thereunder  shall apply to the Successor Borrower’s obligations under the Loan Documents; (v) the Borrower shall  have delivered information reasonably requested in writing by the Administrative Agent (or any Lender  through the Administrative Agent) reasonably required by regulatory authorities under “know your  customer” and anti-money laundering rules and regulations, including without limitation the USA  PATRIOT Act of the type delivered on the Closing Date pursuant to Section 4.01(e) and (vi) the  Borrower shall have delivered an officer’s certificate certifying the compliance with the foregoing;    (e) so long as no Default exists or would result therefrom, any Restricted Subsidiary  may merge or amalgamate with any other Person in order to effect an Investment permitted pursuant to  Section 7.02; provided that the continuing or surviving Person shall be a Restricted Subsidiary, which  together with each of its Restricted Subsidiaries, shall have complied with the requirements of Section  6.10;    (f) [Reserved];          -123-  #95982248v17   (g) so long as no Default exists or would result therefrom, a merger, amalgamation,  dissolution, winding up, liquidation, consolidation or Disposition, the purpose of which is to effect a  Disposition permitted pursuant to Section 7.05, may be effected; and    (h) so long as no Event of Default exists or would result therefrom, any Parent (the  “Subject Parent”) may merge or amalgamate with, or transfer its Equity Interests to, any other Person (1)  in a transaction in which the Subject Parent is the continuing or surviving entity of such transaction or (2)  in a transaction in which such other Person is the surviving or continuing entity of such transaction or  acquires, directly or indirectly, 100% of the Equity Interests of the Subject Parent (such person, the  “Successor Holdings”); provided that, in the case of this clause (2), (i) the Successor Holdings is  organized under the laws of the United States; (ii) the Successor Holdings shall assume the Obligations of  the Subject Parent under the Loan Documents; (iii) the Successor Holdings shall have become a party to  the applicable Guaranty and all other applicable Collateral Documents and the Collateral and Guarantee  Requirement shall have been satisfied with respect to the Successor Holdings; and (iv) the Borrower shall  have delivered information reasonably requested in writing by the Administrative Agent (or any Lender  through the Administrative Agent) reasonably required by regulatory authorities under “know your  customer” and anti-money laundering rules and regulations, including without limitation the USA  PATRIOT Act, of the type delivered in connection with the Closing Date pursuant to Section 4.01(e).    Section 7.05 Dispositions. Make any Disposition, except:    (a) Dispositions of obsolete, worn out or surplus property, whether now owned or  hereafter acquired, in the ordinary course of business and Dispositions of property no longer used or  useful in the conduct of the business of the Parents, the Borrower and the Restricted Subsidiaries;    (b) Dispositions of inventory and immaterial assets in the ordinary course of  business (including allowing any registrations or any applications for registration of any immaterial IP  Rights to lapse or go abandoned in the ordinary course of business);    (c) Dispositions of property to the extent that (i) such property is exchanged for  credit against the purchase price of similar replacement property that is promptly purchased or (ii) the  proceeds of such Disposition are promptly applied to the purchase price of such replacement property  (which replacement property is actually promptly purchased);    (d) Dispositions of property to a Parent, the Borrower or a Restricted Subsidiary;  provided that if the transferor of such property is a Loan Party (i) the transferee thereof must be a Loan  Party, (ii) to the extent such transaction constitutes an Investment, such transaction is permitted under  Section 7.02, or (iii) such Disposition shall consist of the transfer of Equity Interests in or Indebtedness of  any Foreign Subsidiary to any other Foreign Subsidiary;    (e) Dispositions permitted by Section 7.02, Section 7.04 and Section 7.06 and Liens  permitted by Section 7.01;    (f) Dispositions in the ordinary course of business of Cash Equivalents;    (g) leases, subleases, licenses or sublicenses, in each case in the ordinary course of  business and which do not materially interfere with the business of the Parents, the Borrower and the  Restricted Subsidiaries, taken as a whole;    (h) transfers of property subject to Casualty Events;    -124-  





 






#95982248v17   (i) Dispositions of Investments in JV Entities or non-Wholly Owned Restricted  Subsidiaries to the extent required by, or made pursuant to, customary buy/sell arrangements between the  parties to such JV Entity or shareholders of such non-Wholly Owned Restricted Subsidiary set forth in the  shareholders agreements, joint venture agreements, organizational documents or similar binding  agreements relating to such JV Entity or non-Wholly Owned Restricted Subsidiary;    (j) Dispositions of accounts receivable in the ordinary course of business in  connection with the collection or compromise thereof or pursuant to factoring arrangements, in each case  to the extent not constituting a receivables financing;    (k) the unwinding of any Swap Contract pursuant to its terms;    (l) Permitted Sale Leasebacks;    (m) Dispositions not otherwise permitted pursuant to this Section 7.05; provided that  (i) such Disposition shall be for fair market value as reasonably determined by the Borrower in good  faith, (ii) the Borrower or the applicable Parent or Restricted Subsidiary shall receive not less than 75% of  such consideration in the form of cash or Cash Equivalents (provided, however, that for the purposes of  this clause (m)(ii), the following shall be deemed to be cash: (A) the assumption by the transferee of  Indebtedness or other liabilities contingent or otherwise of any Parent, the Borrower or any of the  Restricted Subsidiaries (other than Subordinated Debt) and the valid release of such Parent, the Borrower  or such Restricted Subsidiary, by all applicable creditors in writing, from all liability on such  Indebtedness or other liability in connection with such Disposition, (B) securities, notes or other  obligations received by any Parent, the Borrower or any of the Restricted Subsidiaries from the transferee  that are converted by any Parent, the Borrower or any of the Restricted Subsidiaries into cash or Cash  Equivalents within 180 days following the closing of such Disposition, (C) Indebtedness (other than  Subordinated Debt) of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of  such Disposition, to the extent that each Parent, the Borrower and each Restricted Subsidiary are released  from any Guarantee of payment of such Indebtedness in connection with such Disposition and (D) the  aggregate Designated Non-Cash Consideration received by the Parents, the Borrower and the Restricted  Subsidiaries for all Dispositions under this clause (m) having an aggregate fair market value (determined  as of the closing of the applicable Disposition for which such Designated Non-Cash Consideration is  received) not to exceed the greater of (x) $50,000,00053,000,000 and (y) 25% of Consolidated EBITDA  of the Parents, the Borrower and the Restricted Subsidiaries for the most recently ended Test Period at  any time outstanding (net of any Designated Non-Cash Consideration converted into cash and Cash  Equivalents received in respect of any such Designated Non-Cash Consideration and calculated on a Pro  Forma Basis) and (iii) the Borrower or the applicable Parent or Restricted Subsidiary complies with the  applicable provisions of Section 2.05;    (n) the Parents, the Borrower and the Restricted Subsidiaries may surrender or waive  contractual rights and settle or waive contractual or litigation claims in the ordinary course of business;    (o) Dispositions of non-core or obsolete assets acquired in connection with a  Permitted Acquisition;    (p) any swap of assets in exchange for services or other assets in the ordinary course  of business of comparable or greater fair market value of usefulness to the business of the Parents, the  Borrower and the Restricted Subsidiaries as a whole, as determined in good faith by the Borrower;        -125-  #95982248v17   (q) any sale of Equity Interests in, or Indebtedness or other securities of, an  Unrestricted Subsidiary;    (r) Specified Dispositions and Dispositions consummated in connection with a  Permitted Tax Restructuring;    (s) Dispositions for Cash Equivalents (other than in connection with the  capitalization of any special purpose entity used to effect any such Permitted Receivables Financing) of  accounts receivable in connection with any Permitted Receivables Financing; and    (t) any Permitted Distribution Business Dispositions.    To the extent any Collateral is Disposed of as expressly permitted by this Section 7.05 to  any Person other than the Borrower or any Guarantor, such Collateral shall be sold free and clear of the  Liens created by the Loan Documents and, if requested by the Administrative Agent, upon the  certification by the Borrower that such Disposition is permitted by this Agreement, the Administrative  Agent or the Collateral Agent, as applicable, shall be authorized to take and shall take any actions deemed  appropriate in order to effect the foregoing.    Section 7.06 Restricted Payments. Declare or make, directly or indirectly, any  Restricted Payment, except:    (a) the Borrower and each Restricted Subsidiary may make Restricted Payments to  the Parents, the Borrower and to Restricted Subsidiaries (and, in the case of a Restricted Payment by a  non-Wholly Owned Restricted Subsidiary, to each owner of Equity Interests of such Restricted  Subsidiary based on their relative ownership interests of the relevant class of Equity Interests);    (b) (i) the Parents may (or may make Restricted Payments to permit any direct or  indirect parent thereof to) redeem in whole or in part any of its Equity Interests for another class of its (or  such parent’s) Equity Interests or rights to acquire its Equity Interests or with proceeds from substantially  concurrent equity contributions or issuances of new Equity Interests, provided that any terms and  provisions material to the interests of the Lenders, when taken as a whole, contained in such other class of  Equity Interests are at least as advantageous to the Lenders as those contained in the Equity Interests  redeemed thereby and (ii) the Parents may declare and make dividend payments or other distributions  payable solely in Qualified Equity Interests (to the extent not utilized in connection with any other  transactions permitted pursuant to Section 7.02, Section 7.03, Section 7.06 or Section 7.08 (or to build the  Available Amount or Excluded Contribution Amount));    (c) Restricted Payments made on or after the Closing Date for fees and expenses in  connection with the Transactions;    (d) to the extent constituting Restricted Payments, the Parents, the Borrower and the  Restricted Subsidiaries may enter into and consummate transactions expressly permitted by any provision  of Section 7.02, Section 7.04 or Section 7.07;    (e) repurchases of Equity Interests in the ordinary course of business in the Parents  (or any direct or indirect parent thereof), the Borrower or any Restricted Subsidiary deemed to occur upon  exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of  such options or warrants;      -126-  





 






#95982248v17   (f) any Parent, the Borrower or any Restricted Subsidiary may, in good faith, pay (or  make Restricted Payments to allow any direct or indirect parent thereof to pay) for the repurchase,  retirement or other acquisition or retirement for value of Equity Interests of it or any direct or indirect  parent thereof held by any future, present or former employee, director, manager, officer or consultant (or  any Affiliates, spouses, former spouses, other immediate family members, successors, executors,  administrators, heirs, legatees or distributees of any of the foregoing) of any Parent (or any direct or  indirect parent of such Parent) or any of its Subsidiaries pursuant to any employee, management, director  or manager equity plan, employee, management, director or manager stock option plan or any other  employee, management, director or manager benefit plan or any agreement (including any stock  subscription or shareholder agreement) with any employee, director, manager, officer or consultant of any  Parent (or any direct or indirect parent thereof), the Borrower or any Subsidiary; provided that such  payments do not to exceed $25,000,00026,500,000 in any calendar year, provided that any unused  portion of the preceding basket for any calendar year may be carried forward to succeeding calendar  years, so long as the aggregate amount of all Restricted Payments made pursuant to this Section 7.06(f) in  any calendar year (after giving effect to such carry forward) shall not exceed $50,000,00053,000,000;  provided, further, that cancellation of Indebtedness owing to any Parent (or any direct or indirect parent  thereof) or any of its Subsidiaries from members of management of such Parent, any of such Parent’s  direct or indirect parent companies or any of the Borrower or any Restricted Subsidiary in connection  with a repurchase of Equity Interests of any of such Parent’s direct or indirect parent companies will not  be deemed to constitute a Restricted Payment for purposes of this covenant or any other provision of this  Agreement;    (g) each Parent, the Borrower and the Restricted Subsidiaries may make Restricted  Payments to any direct or indirect holder of an Equity Interest in the Borrower or such Parent:    (i) the proceeds of which will be used to make Permitted Tax Distributions;    (ii) the proceeds of which shall be used to pay such equity holder’s operating costs  and expenses incurred in the ordinary course of business, other overhead costs and expenses and  fees (including (v) administrative, legal, accounting and similar expenses provided by third  parties, (w) trustee, directors, managers and general partner fees, (x) any judgments, settlements,  penalties, fines or other costs and expenses in respect of any claim, litigation or proceeding, (y)  fees and expenses (including any underwriters discounts and commissions) related to any  investment or acquisition transaction (whether or not successful) and (z) payments in respect of  indebtedness and equity securities of any direct or indirect holder of Equity Interests in such  Parent to the extent the proceeds are used or will be used to pay expenses or other obligations  described in this Section 7.06(g)) which are reasonable and customary and incurred in the  ordinary course of business and attributable to the ownership or operations of such Parent and its  Subsidiaries (including any reasonable and customary indemnification claims made by directors,  managers or officers of any direct or indirect parent of such Parent attributable to the direct or  indirect ownership or operations of such Parent and its Subsidiaries) and fees and expenses  otherwise due and payable by any Parent, the Borrower or any Restricted Subsidiary and  permitted to be paid by such Parents, the Borrower and such Restricted Subsidiaries under this  Agreement not to exceed $20,000,00021,250,000 in any fiscal year;    (iii) the proceeds of which shall be used to pay franchise and excise taxes, and other  fees and expenses, required to maintain its (or any of its direct or indirect parents’) existence  (including any costs or expenses associated with being a public company listed on a national  securities exchange);      -127-  #95982248v17   (iv) to finance any Investment permitted to be made pursuant to Section 7.02;  provided that (A) such Restricted Payment shall be made substantially concurrently with the  closing of such Investment and (B) such parent shall, immediately following the closing thereof,  cause (1) all property acquired (whether assets or Equity Interests) to be held by or contributed to  a Parent, the Borrower or a Restricted Subsidiary or (2) the merger (to the extent permitted in  Section 7.04) of the Person formed or acquired into a Parent, the Borrower or a Restricted  Subsidiary in order to consummate such Permitted Acquisition, in each case, in accordance with  the requirements of Section 6.10; provided that in the case of a Restricted Payment made by a  Loan Party, such property shall not build the Available Amount;    (v) the proceeds of which shall be used to pay customary costs, fees and expenses  (other than to Affiliates) related to any unsuccessful equity or debt offering permitted by this  Agreement or related to a Qualifying IPO; and    (vi) the proceeds of which shall be used to pay customary salary, bonus and other  benefits payable to officers and employees of any direct or indirect parent company or partner of  any Parent to the extent such salaries, bonuses and other benefits are attributable to the ownership  or operation of the Parents, the Borrower and the Restricted Subsidiaries;    (h) any Parent, the Borrower or any Restricted Subsidiary may pay any dividend or  distribution within 60 days after the date of declaration thereof, if at the date of declaration such payment  would have complied with the provisions of this Agreement (it being understood that a distribution  pursuant to this Section 7.06(h) shall be deemed to have utilized capacity under such other provision of  this Agreement);    (i) any Parent, the Borrower or any Restricted Subsidiary may (a) pay cash in lieu of  fractional Equity Interests in connection with any dividend, split or combination thereof or any Permitted  Acquisition and (b) honor any conversion request by a holder of convertible Indebtedness and make cash  payments in lieu of fractional shares in connection with any such conversion and may make payments on  convertible Indebtedness in accordance with its terms;    (j) any Parent, the Borrower or any Restricted Subsidiary may make additional  Restricted Payments in an amount not to exceed the greater of (x) $40,000,00042,500,000 and (y) 20% of  Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries for the most recently  ended Test Period calculated on a Pro Forma Basis;    (k) any Parent, the Borrower or any Restricted Subsidiary may make additional  Restricted Payments in an amount not to exceed (i) the Available Amount (provided that at the time of  any such Restricted Payment in reliance on clause (b) of the definition of “Available Amount”, no  Specified Event of Default shall have occurred and be continuing or would result therefrom) and/or (ii)  the Excluded Contribution Amount;    (l) after a Qualifying IPO, (i) any Restricted Payment the proceeds of which will be  used to pay listing fees and other costs and expenses attributable to being a publicly traded company  which are reasonable and customary, including Public Company Costs, (ii) Restricted Payments not to  exceed up to 6.00% per annum of the Net Cash Proceeds received by (or contributed to) the Parents, the  Borrower and the Restricted Subsidiaries from such Qualifying IPO and (iii) the declaration and payment  by the Borrower and the Restricted Subsidiaries of dividends on the common stock or common equity  interests of the Borrower or its direct or indirect parent, in an amount not to exceed 5.00% of the Market  Capitalization of the Borrower or such direct or indirect parent (in the case of a direct or indirect parent,    -128-  





 






#95982248v17   to the extent attributable to the Borrower and its Restricted Subsidiaries, as reasonably determined by the  Borrower in good faith);    (m) [reserved];    (n) [reserved];    (o) the Permitted Distribution Business Disposition;    (p) Restricted Payments in an amount not to exceed $30,000,00032,000,000  annually;    (q) any Parent, the Borrower or any Restricted Subsidiary may make additional  Restricted Payments; provided that, at the time of such Restricted Payment, (i) no Default or Event of  Default has occurred and is continuing and (ii) the Total Leverage Ratio of the Parents, the Borrower and  the Restricted Subsidiaries as of the end of the most recently ended Test Period, on a Pro Forma Basis,  would be no greater than 3.50:1.00; and    (r) the Closing Date Restricted Payment.    Section 7.07 Transactions with Affiliates. Enter into any transaction of any kind  with any Affiliate of any Parent with a fair market value in excess of $15,000,00016,000,000, whether or  not in the ordinary course of business, other than:    (a) transactions between or among any Parent, the Borrower or any Restricted  Subsidiary or any entity that becomes a Restricted Subsidiary as a result of such transaction;    (b) transactions on terms not less favorable to such Parent, the Borrower or such  Restricted Subsidiary as would be obtainable by such Parent, the Borrower or such Restricted Subsidiary  at the time in a comparable arm’s-length transaction with a Person other than an Affiliate;    (c) the Transaction and the payment of fees and expenses related to the Transaction;    (d) the issuance of Equity Interests to any officer, director, manager, employee or  consultant of any Parent or any of its Subsidiaries or any direct or indirect parent of such Parent in  connection with the Transaction;    (e) equity issuances, repurchases, redemptions, retirements or other acquisitions or  retirements of Equity Interests by any Parent, the Borrower or any Restricted Subsidiary permitted under  Section 7.06;    (f) loans and other transactions by and among the Parents and/or one or more  Subsidiaries to the extent permitted under this Article VII;    (g) employment and severance arrangements between the Parents or any of their  respective Subsidiaries and their respective officers and employees in the ordinary course of business and  transactions pursuant to stock option plans and employee benefit plans and arrangements;    (h) to the extent permitted by Sections 7.06(g)(i) and (iii), payments by any Parent  (and any direct or indirect parent thereof), the Borrower and the Restricted Subsidiaries pursuant to any  tax sharing agreements among such Parent (and any such direct or indirect parent thereof), the Borrower    -129-  #95982248v17   and the Restricted Subsidiaries on customary terms to the extent attributable to the ownership or operation  of the Parents, the Borrower and the Restricted Subsidiaries;    (i) the payment of customary fees and reasonable out-of-pocket costs to, and  indemnities provided on behalf of, directors, managers, officers, employees and consultants of the  Parents, the Borrower and the Restricted Subsidiaries or any direct or indirect parent of any Parent in the  ordinary course of business to the extent attributable to the ownership or operation of the Parents, the  Borrower and the Restricted Subsidiaries;    (j) transactions pursuant to agreements in existence on the Closing Date and set  forth on Schedule 7.07 or any amendment thereto to the extent such an amendment is not adverse to the  Lenders in any material respect;    (k) dividends and other distributions permitted under Section 7.06;    (l) the payment of board, management, advisory, consulting, refinancing,  subsequent transaction and exit fees (including termination fees) and related indemnities and reasonable  expenses to any Permitted Holder (or, in the case of board fees, to any director) in an aggregate amount in  any fiscal year not to exceed $10,000,00010,500,000; provided that, upon the occurrence and during the  continuance of an Event of Default such amounts may accrue, but not be payable in cash during such  period, but all such accrued amounts (plus accrued interest, if any, with respect thereto) may be payable  in cash upon the cure or waiver of such Event of Default;    (m) transactions entered into by an Unrestricted Subsidiary with an Affiliate prior to  the redesignation of any such Unrestricted Subsidiary as a Restricted Subsidiary pursuant to the definition  of “Unrestricted Subsidiary”; provided that such transactions were not entered into in contemplation of  such redesignation;    (n) Dispositions for Cash Equivalents (other than in connection with the  capitalization of any special purpose entity used to effect any such Permitted Receivables Financing) of  accounts receivable in connection with any Permitted Receivables Financing;    (o) transactions in connection with Permitted Tax Restructurings; and    (p) the Permitted Distribution Business Disposition.    Section 7.08 Prepayments, Etc., of Indebtedness.    (a) Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled  maturity thereof in any manner any Subordinated Debt in an amount that is in excess of  $50,000,00053,000,000 (it being understood that payments of regularly scheduled interest, AHYDO  payments and mandatory prepayments under any such Junior Debt Documents shall not be prohibited by  this clause) except for (i) the refinancing thereof with the Net Cash Proceeds of any such Indebtedness (to  the extent such Indebtedness constitutes a Permitted Refinancing), (ii) the conversion thereof to Equity  Interests (other than Disqualified Equity Interests) of the Borrower or any of its direct or indirect parents  (or any Intermediate Holding Company), (iii) prepayments, redemptions, purchases, defeasances and  other payments thereof prior to their scheduled maturity in an aggregate amount not to exceed (A) the  greater of (x) $40,000,00042,500,000 and (y) 20% of Consolidated EBITDA of the Parents, the Borrower  and the Restricted Subsidiaries for the most recently ended Test Period calculated on a Pro Forma Basis,  plus (B) the Available Amount, (provided that at the time of any such prepayment, redemption, purchase,  defeasance or other payment in reliance on clause (b) of the definition of “Available Amount” no  -130-  





 






#95982248v17   Specified Event of Default shall have occurred and be continuing or would result therefrom), plus (C) the  Excluded Contribution Amount, and (iv) other prepayments, redemptions, purchases, defeasances and  other payments thereof prior to their scheduled maturity (provided that, at the time of such prepayments,  redemptions, purchases, defeasances or other payments, (x) no Default or Event of Default has occurred  and is continuing and (y) the Total Leverage Ratio of the Parents, the Borrower and the Restricted  Subsidiaries as of the end of the most recently ended Test Period, on a Pro Forma Basis, would be no  greater than 3.50:1.00).    (b) Amend, modify or change in any manner materially adverse to the interests of the  Lenders any term or condition of any Junior Debt Documents without the consent of the Required  Lenders (not to be unreasonably withheld or delayed).    Section 7.09 [Reserved].    Section 7.10 Negative Pledge and Subsidiary Distributions. Enter into any  agreement, instrument, deed or lease which prohibits or limits (i) the ability of any Loan Party to create,  incur, assume or suffer to exist any Lien upon any of their respective properties or revenues, whether now  owned or hereafter acquired, for the benefit of the Secured Parties with respect to the Obligations or  under the Loan Documents (ii) the ability of any Restricted Subsidiary to pay dividends or other  distributions with respect to any of its Equity Interests; provided that the foregoing shall not apply to:    (a) restrictions and conditions imposed by (A) law, (B) any Loan Document, (C)  [reserved] or (D) the ABL Facility;    (b) restrictions and conditions existing on the Closing Date or to any extension,  renewal, amendment, modification or replacement thereof, except to the extent any such amendment,  modification or replacement expands the scope of any such restriction or condition;    (c) customary restrictions and conditions arising in connection with any Disposition  permitted by Section 7.05;    (d) customary provisions in leases, licenses and other contracts restricting the  assignment thereof;    (e) restrictions imposed by any agreement relating to secured Indebtedness permitted  by this Agreement to the extent such restriction applies only to the property securing such Indebtedness;    (f) any restrictions or conditions set forth in any agreement in effect at any time any  Person becomes a Restricted Subsidiary (but not any modification or amendment expanding the scope of  any such restriction or condition), provided that such agreement was not entered into in contemplation of  such Person becoming a Restricted Subsidiary and the restriction or condition set forth in such agreement  does not apply to any Parent, the Borrower or any Restricted Subsidiary;    (g) any restrictions or conditions in any Indebtedness permitted pursuant to Section  7.03 or by the definition of “Refinancing Term Loans” to the extent such restrictions or conditions are no  more restrictive than the restrictions and conditions in the Loan Documents or, in the case of  Subordinated Debt, are market terms at the time of issuance or, in the case of Indebtedness of any  Non-Loan Party, are imposed solely on such Non-Loan Party and its Subsidiaries, provided that any such  restrictions or conditions permit compliance with the Collateral and Guarantee Requirement and Section  6.10;    -131-  #95982248v17   (h) any restrictions on cash or other deposits imposed by agreements entered into in  the ordinary course of business;    (i) customary provisions in shareholders agreements, joint venture agreements,  organizational documents or similar binding agreements relating to any JV Entity or non-Wholly Owned  Restricted Subsidiary and other similar agreements applicable to JV Entities and non-Wholly Owned  Restricted Subsidiaries permitted under Section 7.02 and applicable solely to such JV Entity or  non-Wholly Owned Restricted Subsidiary and the Equity Interests issued thereby;    (j) customary restrictions in leases, subleases, licenses or asset sale agreements and  other similar contracts otherwise permitted hereby so long as such restrictions relate only to the assets  subject thereto;    (k) customary provisions restricting assignment of any agreement entered into in the  ordinary course of business;    (l) customary net worth provisions contained in real property leases entered into by  Subsidiaries of any Parent (other than the Borrower), so long as the Borrower has determined in good  faith that such net worth provisions could not reasonably be expected to impair the ability of any Parent,  the Borrower and the other Subsidiaries of any Parent to meet their ongoing obligation; and    (m) restrictions imposed by any agreement governing Indebtedness entered into on or  after the Closing Date and permitted under Section 7.03 that are, taken as a whole, in the good faith  judgment of the Borrower, no more restrictive with respect to any Parent, the Borrower or any Restricted  Subsidiary than customary market terms for Indebtedness of such type, so long as the Borrower shall have  determined in good faith that such restrictions will not adversely affect in any material respect its  obligation or ability to make any payments required hereunder.    Section 7.11 Change of Fiscal Year. The fiscal year of the Parents for financial  reporting purposes to end on a day other than the closest Sunday following last day of December;  provided, that Borrower may, upon written notice to the Administrative Agent, change such fiscal year to  any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Borrower and  the Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to this  Agreement and to the covenants contained herein that are reasonably necessary in order to reflect such  change.    Section 7.12 Material Real Property[Reserved]. Create, incur, assume or suffer to  exist any Lien upon any Material Real Property, whether now owned or hereafter acquired, other than (i)  easements, rights-of-way, restrictions, covenants, conditions, encroachments, protrusions and other  similar encumbrances and minor title defects affecting real property which, in the aggregate, do not in any  case materially interfere with the ordinary conduct of the business of any Parent, the Borrower or any  Restricted Subsidiary; (ii) any zoning or similar law or right reserved to or vested in any Governmental  Authority to control or regulate the use of any real property that does not materially interfere with the  ordinary conduct of the business of any Parent, the Borrower or any Restricted Subsidiary; (iii) ground  leases in respect of real property on which facilities owned or leased by any Parent, the Borrower or any  Restricted Subsidiary are located and (iv) Liens pursuant to any Loan Document and any Liens incurred  pursuant to Section 7.01(ff).    .      -132-  





 






#95982248v17   Section 7.13 [Reserved].    ARTICLE VIII    Events of Default and Remedies    Section 8.01 Events of Default. Any of the following events referred to in any of  clauses (a) through (j) inclusive of this Section 8.01 shall constitute an “Event of Default”:    (a) Non-Payment. Any Loan Party fails to pay (i) when and as required to be paid  herein, any amount of principal of any Loan or (ii) within five (5) Business Days after the same becomes  due, any interest on any Loan or any other amount payable hereunder or with respect to any other Loan  Document; or    (b) Specific Covenants. Any Loan Party fails to perform or observe any term,  covenant or agreement contained in any of Section 6.03(a) or Section 6.04 (solely with respect to any  Parent and the Borrower), Section 6.11, Section 6.13 or Article VII; or    (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant  or agreement (not specified in Section 8.01(a) or (b) above) contained in any Loan Document on its part  to be performed or observed and such failure continues for thirty (30) days after receipt by the Borrower  of written notice thereof by the Administrative Agent or the Required Lenders; or    (d) Representations and Warranties. Any representation, warranty, certification or  statement of fact made or deemed made by or on behalf of any Loan Party herein, in any other Loan  Document, or in any document required to be delivered in connection herewith or therewith shall be  incorrect or misleading in any material respect when made or deemed made and such incorrect or  misleading representation, warranty, certification or statement of fact, if capable of being cured, remains  so incorrect or misleading for thirty (30) days after receipt by the Borrower of written notice thereof by  the Administrative Agent or the Required Lenders; or    (e) Cross-Default. Any Parent, the Borrower or any Restricted Subsidiary (A) fails  to make any payment beyond the applicable grace period with respect thereto, if any (whether by  scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any  Indebtedness (other than Indebtedness hereunder) having an aggregate principal amount exceeding the  Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any  such Indebtedness, or any other event occurs (other than (i) with respect to Indebtedness consisting of  Swap Contracts, termination events or equivalent events pursuant to the terms of such Swap Contracts  and (ii) any event requiring prepayment pursuant to customary asset sale events, insurance and  condemnation proceeds events, change of control offers events and excess cash flow and indebtedness  sweeps), the effect of which default or other event is to cause, or to permit the holder or holders of such  Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to  cause, with the giving of notice if required, all such Indebtedness to become due or to be repurchased,  prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or  redeem all such Indebtedness to be made, prior to its stated maturity; provided that (x) this clause (e)(B)  shall not apply to secured Indebtedness that becomes due (or requires an offer to purchase) as a result of  the voluntary sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer  is permitted hereunder and under the documents providing for such Indebtedness and (y) an “Event of  Default” under the ABL Credit Agreement shall not constitute an Event of Default hereunder unless the  ABL Lenders have actually declared all ABL Obligations to be immediately due and payable in  accordance with the terms of the ABL Credit Agreement and such declaration has not been rescinded by  -133-  #95982248v17   the ABL Lenders on or before such date; provided, further, that such failure or breach is unremedied and  is not waived by the required holders of such Indebtedness; or    (f) Insolvency Proceedings, Etc. Except with respect to any dissolution or  liquidation of a Restricted Subsidiary expressly permitted by Section 7.04 in connection with the  consummation of a Permitted Tax Restructuring, any Parent, the Borrower or any of the Restricted  Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or  makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any  receiver, interim receiver, receiver and manager, trustee, custodian, conservator, liquidator, rehabilitator,  administrator, administrative receiver or similar officer for it or for all or any material part of its property;  or any receiver, interim receiver, receiver and manager, trustee, custodian, conservator, liquidator,  rehabilitator, administrator, administrative receiver or similar officer is appointed without the application  or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar  days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material  part of its property is instituted without the consent of such Person and continues undismissed or unstayed  for sixty (60) calendar days; or an order for relief is entered in any such proceeding; or    (g) Inability to Pay Debts; Attachment. (i) Any Parent, the Borrower or any  Restricted Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts  as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or  levied against all or any material part of the property of any Parent, the Borrower or any Restricted  Subsidiary, taken as a whole, and is not released, vacated or fully bonded within sixty (60) days after its  issue or levy; or    (h) Judgments. There is entered against any Parent, the Borrower or any Restricted  Subsidiary a final judgment or order for the payment of money in an aggregate amount exceeding the  Threshold Amount (to the extent not covered by independent third-party insurance) and such judgment or  order shall not have been satisfied, vacated, discharged or stayed or bonded pending an appeal for a  period of sixty (60) consecutive days; or    (i) Invalidity of Collateral Documents. Any material provision of any Collateral  Document, at any time after its execution and delivery and for any reason other than as expressly  permitted hereunder or thereunder (including as a result of a transaction permitted under Section 7.04 or  Section 7.05) or solely as a result of acts or omissions by the Administrative Agent or any Lender or the  satisfaction in full of all the Obligations, ceases to be in full force and effect or ceases to create a valid  and perfected lien, with the priority set forth in the Applicable Intercreditor Agreement on a material  portion of the Collateral covered thereby; or any Loan Party contests in writing the validity or  enforceability of any material provision of any Collateral Document; or any Loan Party denies in writing  that it has any or further liability or obligation under any Collateral Document (other than as a result of  repayment in full of the Obligations and termination of the Aggregate Commitments), or purports in  writing to revoke or rescind any Collateral Document; or    (j) Invalidity of Guarantees. Any Guarantee, after its execution and delivery,  provided by any Parent, any Intermediate Holding Company or any other Guarantor that is a Material  Subsidiary, or any material provision thereof, ceases to be in full force and effect (other than pursuant to  the terms hereof or thereof) or any Loan Party denies or disaffirms in writing any such Guarantor’s  material obligations under its Guarantee (other than as a result of repayment in full of the Obligations and  terminations of the Term Commitments); or    (k) Change of Control. There occurs any Change of Control; or    -134-  





 






#95982248v17   (l) ERISA. (i) An ERISA Event occurs which, individually or together with other  ERISA events which have occurred, has resulted or could reasonably be expected to result in liability of a  Loan Party in an aggregate amount which could reasonably be expected to result in a Material Adverse  Effect, or (ii) a Loan Party or any ERISA Affiliate fails to pay when due, after the expiration of any  applicable grace period, any installment payment with respect to its withdrawal liability under Section  4201 of ERISA under a Multiemployer Plan the remaining balance of which could reasonably be  expected to result in a Material Adverse Effect.    Section 8.02 Remedies Upon Event of Default. If any Event of Default occurs and  is continuing, the Administrative Agent may and, at the request of the Required Lenders, shall take any or  all of the following actions:    (a) declare the commitment of each Lender to make Loans to be terminated,  whereupon such commitments shall be terminated;    (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued  and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan  Document to be immediately due and payable, without presentment, demand, protest or other notice of  any kind, all of which are hereby expressly waived by the Borrower;    (c) [reserved]; and    (d) exercise on behalf of itself and the Lenders all rights and remedies available to it  and the Lenders under the Loan Documents or applicable Law;    provided that upon the occurrence of an Event of Default under Section 8.01(f) or (g) with respect to any  Parent or the Borrower, the obligation of each Lender to make Loans shall automatically terminate, the  unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall  automatically become due and payable, in each case without further act of the Administrative Agent or  any Lender.    Section 8.03 Exclusion of Immaterial Subsidiaries. Solely for the purpose of  determining whether a Default has occurred under clause (f) or (g) of Section 8.01, any reference in any  such clause to any Restricted Subsidiary or Loan Party shall be deemed not to include any Subsidiary that  is an Immaterial Subsidiary or at such time could, upon designation by the Borrower, become an  Immaterial Subsidiary affected by any event or circumstances referred to in any such clause unless the  Consolidated EBITDA of such Subsidiary together with the Consolidated EBITDA of all other  Subsidiaries affected by such event or circumstance referred to in such clause, shall exceed 5% of the  Consolidated EBITDA of the Parents, the Borrower and the Restricted Subsidiaries.    Section 8.04 Application of Funds. If the circumstances described in Section  2.12(g) have occurred, or after the exercise of remedies provided for in Section 8.02 (or after the Loans  have automatically become immediately due and payable), including in any bankruptcy or insolvency  proceeding, any amounts received on account of the Obligations shall be applied by the Administrative  Agent, subject to the Applicable Intercreditor Agreement then in effect, in the following order:    First, to payment of that portion of the Obligations constituting fees, indemnities,  expenses and other amounts (other than principal and interest, but including Attorney Costs  payable under Section 10.04 and amounts payable under Article III) payable to each Agent in its  capacity as such;    -135-  #95982248v17   Second, to payment of that portion of the Obligations constituting fees, indemnities and  other amounts (other than principal and interest) payable to the Lenders (including Attorney  Costs payable under Section 10.04 and amounts payable under Article III), ratably among them in  proportion to the amounts described in this clause Second payable to them;    Third, to payment of that portion of the Obligations constituting accrued and unpaid  interest (including, but not limited to, post-petition interest), ratably among the Lenders in  proportion to the respective amounts described in this clause Third payable to them;    Fourth, to payment of that portion of the Obligations constituting unpaid principal of the  Loans, ratably among the Secured Parties in proportion to the respective amounts described in  this clause Fourth held by them;    Fifth, to the payment of all other Obligations of the Loan Parties that are due and payable  to the Administrative Agent and the other Secured Parties on such date, ratably based upon the  respective aggregate amounts of all such Obligations owing to the Administrative Agent and the  other Secured Parties on such date; and    Last, the balance, if any, after all of the Obligations have been paid in full, to the  Borrower or as otherwise required by Law.    ARTICLE IX    Administrative Agent and Other Agents    Section 9.01 Appointment and Authorization of Agents.    (a) Each Lender hereby irrevocably appoints, designates and authorizes the  Administrative Agent to take such action on its behalf under the provisions of this Agreement and each  other Loan Document and to exercise such powers and perform such duties as are expressly delegated to  it by the terms of this Agreement or any other Loan Document, together with such powers as are  reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein  or in any other Loan Document, the Administrative Agent shall have no duties or responsibilities, except  those expressly set forth herein, nor shall the Administrative Agent have or be deemed to have any  fiduciary relationship with any Lender or participant, and no implied covenants, functions,  responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan  Document or otherwise exist against the Administrative Agent. Without limiting the generality of the  foregoing sentence, the use of the term “agent” herein and in the other Loan Documents with reference to  any Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under  agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom,  and is intended to create or reflect only an administrative relationship between independent contracting  parties.    (b) [Reserved].    (c) The Administrative Agent shall also act as the “collateral agent” under the Loan  Documents, and each of the Lenders hereby irrevocably appoints and authorizes the Administrative Agent  to act as the agent of (and to hold any security interest, charge or other Lien created by the Collateral  Documents for and on behalf of or on trust for) such Lender for purposes of acquiring, holding and  enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the  Obligations, together with such powers and discretion as are reasonably incidental thereto. In this  -136-  





 






#95982248v17   connection, the Administrative Agent, as “collateral agent” (and any co-agents, sub-agents and  attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.02 for purposes of holding  or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents,  or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall  be entitled to the benefits of all provisions of this Article IX (including Section 9.07, as though such  co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if  set forth in full herein with respect thereto. Without limiting the generality of the foregoing, the Lenders  hereby expressly authorize the Administrative Agent to execute any and all documents (including  releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as  contemplated by and in accordance with the provisions of the Loan Documents and the Collateral  Documents and acknowledge and agree that any such action by any Agent shall bind the Lenders.    Section 9.02 Delegation of Duties. The Administrative Agent may execute any of  its duties under this Agreement or any other Loan Document (including for purposes of holding or  enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents or  of exercising any rights and remedies thereunder) by or through Affiliates, agents, employees or  attorneys-in-fact, such sub-agents as shall be deemed necessary by the Administrative Agent, and shall be  entitled to advice of counsel, both internal and external, and other consultants or experts concerning all  matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or  misconduct of any agent or sub-agent or attorney-in-fact that it selects in the absence of gross negligence  or willful misconduct.    Section 9.03 Liability of Agents. No Agent-Related Person shall (a) be liable to  any Lender for any action taken or omitted to be taken by any of them under or in connection with this  Agreement or any other Loan Document or the transactions contemplated hereby, including their  respective activities in connection with the syndication of the credit facilities provided for herein as well  as activities as Administrative Agent (except for its own gross negligence or willful misconduct, as  determined by the final and non-appealable judgment of a court of competent jurisdiction, in connection  with its duties expressly set forth herein), (b) be responsible in any manner to any Lender or participant  for any recital, statement, representation or warranty made by any Loan Party or any officer thereof,  contained herein or in any other Loan Document, or in any certificate, report, statement or other  document referred to or provided for in, or received by the Administrative Agent under or in connection  with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness,  enforceability or sufficiency of this Agreement or any other Loan Document, or the validity, perfection or  priority of any Lien or security interest created or purported to be created under the Collateral Documents,  the value or sufficiency of any Collateral or the satisfaction of any condition set forth in Article IV or  elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the  Administrative Agent, or for any failure of any Loan Party or any other party to any Loan Document to  perform its obligations hereunder or thereunder or (c) be responsible or have any liability for, or have any  duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to  Disqualified Lenders; further, without limiting the generality of the foregoing clause (c), no  Agent-Related Person shall (x) be obligated to ascertain, monitor or inquire as to whether any Lender or  Participant or prospective Lender or Participant is a Disqualified Lender or (y) have any liability with  respect to or arising out of any assignment or participation of Loans, or disclosure of confidential  information, to any Disqualified Lender. No Agent-Related Person shall be under any obligation to any  Lender or participant to ascertain or to inquire as to the observance or performance of any of the  agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the  properties, books or records of any Loan Party or any Affiliate thereof. No Agent shall have any duty to  take any discretionary action or exercise any discretionary powers, except discretionary rights and powers  expressly contemplated hereby or by the other Loan Documents that such Agent is required to exercise as  directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall  -137-  #95982248v17   be expressly provided for herein or in the other Loan Documents); provided that such Agent shall not be  required to take any action that, in its judgment or the judgment of its counsel, may expose such Agent to  liability or that is contrary to any Loan Document or applicable Law. No Agent shall be liable for any  action taken or not taken by it with the consent or at the request of the Required Lenders (or such other  number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan  Documents), or in the absence of its own gross negligence or willful misconduct, as determined by the  final and non-appealable judgment of a court of competent jurisdiction, in connection with its duties  expressly set forth herein.    Section 9.04 Reliance by Agents.    (a) Each Agent shall be entitled to rely, and shall be fully protected in relying, upon  any writing, communication, signature, resolution, representation, notice, request, consent, certificate,  instrument, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail message,  statement or other document or conversation believed by it to be genuine and correct and to have been  signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel  (including counsel to any Loan Party), independent accountants and other experts selected by such Agent  and shall not incur any liability for relying thereon. Each Agent shall be fully justified in failing or  refusing to take any action under any Loan Document unless it shall first receive such advice or  concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first be  indemnified to its satisfaction by the Lenders against any and all liability and expense which may be  incurred by it by reason of taking or continuing to take any such action. Each Agent shall in all cases be  fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document  in accordance with a request or consent of the Required Lenders (or such greater number of Lenders as  may be expressly required hereby in any instance) and such request and any action taken or failure to act  pursuant thereto shall be binding upon all the Lenders.    (b) For purposes of determining compliance with the conditions specified in Section  4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or  accepted or to be satisfied with, each document or other matter required thereunder to be consented to or  approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received  notice from such Lender prior to the proposed Closing Date specifying its objection thereto.    Section 9.05 Notice of Default. The Administrative Agent shall not be deemed to  have knowledge or notice of the occurrence of any Default, except with respect to defaults in the payment  of principal, interest and fees required to be paid to the Administrative Agent for the account of the  Lenders, unless the Administrative Agent shall have received written notice from a Lender or the  Borrower referring to this Agreement, describing such Default and stating that such notice is a “notice of  default.” The Administrative Agent will notify the Lenders of its receipt of any such notice. Subject to  the other provisions of this Article IX, the Administrative Agent shall take such action with respect to any  Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided  that unless and until the Administrative Agent has received any such direction, the Administrative Agent  may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to  such Event of Default as it shall deem advisable or in the best interest of the Lenders.    Section 9.06 Credit Decision; Disclosure of Information by Agents. Each Lender  acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act  by any Agent hereafter taken, including any consent to and acceptance of any assignment or review of the  affairs of any Loan Party or any Affiliate thereof, shall be deemed to constitute any representation or  warranty by any Agent-Related Person to any Lender as to any matter, including whether Agent-Related  Persons have disclosed material information in their possession. Each Lender represents to each Agent  -138-  





 






#95982248v17   that it has, independently and without reliance upon any Agent-Related Person and based on such  documents and information as it has deemed appropriate, made its own appraisal of an investigation into  the business, prospects, operations, property, financial and other condition and creditworthiness of the  Loan Parties and their respective Subsidiaries, and all applicable bank or other regulatory Laws relating to  the transactions contemplated hereby, and made its own decision to enter into this Agreement and to  extend credit to the Borrower and the other Loan Parties hereunder. Each Lender also represents that it  will, independently and without reliance upon any Agent-Related Person and based on such documents  and information as it shall deem appropriate at the time, continue to make its own credit analysis,  appraisals and decisions in taking or not taking action under this Agreement and the other Loan  Documents, and to make such investigations as it deems necessary to inform itself as to the business,  prospects, operations, property, financial and other condition and creditworthiness of the Borrower and  the other Loan Parties. Except for notices, reports and other documents expressly required to be  furnished to the Lenders by any Agent herein, such Agent shall not have any duty or responsibility to  provide any Lender with any credit or other information concerning the business, prospects, operations,  property, financial and other condition or creditworthiness of any of the Loan Parties or any of their  respective Affiliates which may come into the possession of any Agent-Related Person.    Section 9.07 Indemnification of Agents. Whether or not the transactions  contemplated hereby are consummated, the Lenders shall indemnify upon demand each Agent-Related  Person (to the extent not reimbursed by or on behalf of any Loan Party and without limiting the  obligation of any Loan Party to do so), pro rata, and hold harmless each Agent-Related Person from and  against any and all Indemnified Liabilities incurred by it in its capacity as an Agent-Related Person;  provided that no Lender shall be liable for the payment to any Agent-Related Person of any portion of  such Indemnified Liabilities resulting from such Agent-Related Person’s own gross negligence or willful  misconduct, as determined by the final and non-appealable judgment of a court of competent jurisdiction;  provided that no action taken in accordance with the directions of the Required Lenders (or such other  number or percentage of the Lenders as shall be required by the Loan Documents) shall be deemed to  constitute gross negligence or willful misconduct for purposes of this Section 9.07. In the case of any  investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this Section 9.07 applies  whether any such investigation, litigation or proceeding is brought by any Lender or any other Person.  Without limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon demand  for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by the  Administrative Agent in connection with the preparation, execution, delivery, administration,  modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise)  of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan  Document, or any document contemplated by or referred to herein, to the extent that the Administrative  Agent is not reimbursed for such expenses by or on behalf of the Borrower, provided that such  reimbursement by the Lenders shall not affect the Borrower’s continuing reimbursement obligations with  respect thereto, if any. The undertaking in this Section 9.07 shall survive termination of the Aggregate  Commitments, the payment of all other Obligations and the resignation of the Administrative Agent.    Section 9.08 Agents in their Individual Capacities. Bank of America and its  Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire  Equity Interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or  other business with each of the Loan Parties and their respective Affiliates as though Bank of America  were not the Administrative Agent hereunder and without notice to or consent of the Lenders. The  Lenders acknowledge that, pursuant to such activities, Bank of America or its Affiliates may receive  information regarding any Loan Party or any Affiliate of a Loan Party (including information that may be  subject to confidentiality obligations in favor of such Loan Party or such Affiliate) and acknowledge that  the Administrative Agent shall be under no obligation to provide such information to them. With respect  to its Loans, Bank of America shall have the same rights and powers under this Agreement as any other  -139-  #95982248v17   Lender and may exercise such rights and powers as though it were not the Administrative Agent, and the  terms “Lender” and “Lenders” include Bank of America in its individual capacity.    Section 9.09 Successor Agents. The Administrative Agent may resign as the  Administrative Agent and Collateral Agent upon thirty (30) days’ notice to the Lenders and the Borrower.  If the Administrative Agent resigns under this Agreement, the Required Lenders shall appoint from  among the Lenders a successor agent for the Lenders, which appointment of a successor agent shall  require the consent of the Borrower at all times other than during the existence of an Event of Default  under Section 8.01(f) or (g) (which consent of the Borrower shall not be unreasonably withheld or  delayed). If no successor agent is appointed prior to the effective date of the resignation of the  Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and the  Borrower, a successor agent from among the Lenders. Upon the acceptance of its appointment as  successor agent hereunder, the Person acting as such successor agent shall succeed to all the rights,  powers and duties of the retiring Administrative Agent and Collateral Agent and the term “Administrative  Agent” shall mean such successor administrative agent and/or supplemental administrative agent, as the  case may be (and the term “Collateral Agent” shall mean such successor collateral agent, as described in  this Section 9.09 and/or supplemental agent, as described in Section 9.02), and the retiring Administrative  Agent’s appointment, powers and duties as the Administrative Agent and Collateral Agent shall be  terminated. After the retiring Administrative Agent’s resignation hereunder as the Administrative Agent  and Collateral Agent, the provisions of this Article IX and Section 10.04 and Section 10.05 shall inure to  its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent and  Collateral Agent under this Agreement. If no successor agent has accepted appointment as the  Administrative Agent and Collateral Agent by the date which is thirty (30) days following the retiring  Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall  nevertheless thereupon become effective and the Lenders shall perform all of the duties of the  Administrative Agent and Collateral Agent hereunder until such time, if any, as the Required Lenders  appoint a successor agent as provided for above (except that in the case of any collateral security held by  the Collateral Agent on behalf of the Lenders under any of the Loan Documents, the retiring Collateral  Agent shall continue to hold such collateral security until such time as a successor Collateral Agent is  appointed). Upon the acceptance of any appointment as the Administrative Agent and Collateral Agent  hereunder by a successor and upon the execution and filing or recording of such financing statements, or  amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the  Required Lenders may reasonably request, in order to (a) continue the perfection of the Liens granted or  purported to be granted by the Collateral Documents or (b) otherwise ensure that the Collateral and  Guarantee Requirement is satisfied, the Administrative Agent shall thereupon succeed to and become  vested with all the rights, powers, discretion, privileges, and duties of the retiring Administrative Agent  and Collateral Agent, and the retiring Administrative Agent and Collateral Agent shall, to the extent not  previously discharged, be discharged from its duties and obligations under the Loan Documents.    Section 9.10 Administrative Agent May File Proofs of Claim. In case of the  pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,  adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent  (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by  declaration or otherwise and irrespective of whether the Administrative Agent shall have made any  demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or  otherwise:    (a) to file and prove a claim for the whole amount of the principal and interest owing  and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such  other documents as may be necessary or advisable in order to have the claims of the Lenders and the  Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and  -140-  





 






#95982248v17   advances of the Lenders and the Administrative Agent and their respective agents and counsel and all  other amounts due the Lenders and the Administrative Agent under Section 2.09 and Section 10.04)  allowed in such judicial proceeding; and    (b) to collect and receive any monies or other property payable or deliverable on any  such claims and to distribute the same; and    (c) any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar  official in any such judicial proceeding is hereby authorized by each Lender to make such payments to  the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of  such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the  reasonable compensation, expenses, disbursements and advances of the Agents and their respective agents  and counsel, and any other amounts due to the Administrative Agent under Section 2.09 and Section  10.04.    The Secured Parties hereby irrevocably authorize the Administrative Agent, at the  direction of the Required Lenders, to credit bid all or any portion of the Obligations (including accepting  some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of  foreclosure or otherwise) and in such manner purchase (either directly or through one or more acquisition  vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the  Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code, or any similar  Laws in any other jurisdictions to which a Loan Party is subject, (b) at any other sale or foreclosure or  acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the  Administrative Agent (whether by judicial action or otherwise) in accordance with any applicable Law.  In connection with any such credit bid and purchase, the Obligations owed to the Secured Parties shall be  entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or  unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest  upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent  claim amount used in allocating the contingent interests) in the asset or assets so purchased (or in the  Equity Interests or debt instruments of the acquisition vehicle or vehicles that are used to consummate  such purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to form  one or more acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance of  the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to  such acquisition vehicle or vehicles, including any disposition of the assets or Equity Interests thereof  shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the  termination of this Agreement and without giving effect to the limitations on actions by the Required  Lenders contained in clauses (a) through (g) of Section 10.01), (iii) the Administrative Agent shall be  authorized to assign the relevant Obligations to any such acquisition vehicle pro rata by the Lenders, as a  result of which each of the Lenders shall be deemed to have received a pro rata portion of any Equity  Interests and/or debt instruments issued by such an acquisition vehicle on account of the assignment of  the Obligations to be credit bid, all without the need for any Secured Party or acquisition vehicle to take  any further action, and (iv) to the extent that Obligations that are assigned to an acquisition vehicle are not  used to acquire Collateral for any reason (as a result of another bid being higher or better, because the  amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the  acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Lenders pro  rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the  Obligations that had been assigned to the acquisition vehicle shall automatically be canceled, without the  need for any Secured Party or any acquisition vehicle to take any further action.    Nothing contained herein shall be deemed to authorize the Administrative Agent to  authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization,  -141-  #95982248v17   arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to  authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.    Section 9.11 Collateral and Guaranty Matters. The Lenders irrevocably agree:    (a) that any Lien on any property granted to or held by the Administrative Agent or  the Collateral Agent under any Loan Document shall be automatically released (i) upon termination of the  Aggregate Commitments and payment in full of all Obligations (other than contingent indemnification  obligations and other contingent obligations not yet accrued and payable), (ii) at the time the property  subject to such Lien is transferred or to be transferred as part of or in connection with any transfer  permitted hereunder or under any other Loan Document to any Person other than any other Loan Party,  (iii) subject to Section 10.01, if the release of such Lien is approved, authorized or ratified in writing by  the Required Lenders, (iv) if the property subject to such Lien is owned by a Guarantor, upon release of  such Guarantor from its obligations under its Guaranty pursuant to clause (c) below or (v) if the property  subject to such Lien becomes Excluded Property;    (b) to release or subordinate any Lien on any property granted to or held by the  Administrative Agent or the Collateral Agent under any Loan Document to the holder of any Lien on  such property that is permitted by Sections 7.01(i) and (o);    (c) if any Subsidiary Guarantor ceases to be a Restricted Subsidiary, or becomes an  Excluded Subsidiary, in each case as a result of a transaction or designation permitted hereunder (as  certified in writing delivered to the Administrative Agent by a Responsible Officer of the Borrower), (x)  such Subsidiary shall be automatically released from its obligations under the Guaranty and (y) any Liens  granted by such Subsidiary or Liens on the Equity Interests of such Subsidiary (to the extent such Equity  Interests have become Excluded Property or are being transferred to a Person that is not a Loan Party)  shall be automatically released.    Upon request by the Administrative Agent at any time, the Required Lenders will  confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular  types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to  this Section 9.11. In each case as specified in this Section 9.11, the Administrative Agent will promptly  (and each Lender irrevocably authorizes the Administrative Agent to), at the Borrower’s expense, execute  and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to  evidence the release or subordination of such item of Collateral from the assignment and security interest  granted under the Collateral Documents, or to evidence the release of such Guarantor from its obligations  under the Guaranty, in each case in accordance with the terms of the Loan Documents and this Section  9.11. Prior to releasing or subordinating its interest in particular types or items of property, or to release  any Guarantor from its obligations under the Guaranty pursuant to this Section 9.11, the Administrative  Agent and/or the Collateral Agent shall be entitled to receive a certificate of a Responsible Officer of the  Borrower stating that such actions are permitted under this Agreement. Neither the Administrative Agent  nor the Collateral Agent shall be liable for any such release undertaken in reliance upon any such  certificate of a Responsible Officer of the Borrower.    The Collateral Agent shall have no obligation whatsoever to the Lenders or to any other  Person to assure that the Collateral exists or is owned by any Loan Party or is cared for, protected or  insured or that the Liens granted to the Collateral Agent herein or pursuant hereto have been properly or  sufficiently or lawfully created, perfected, protected or enforced or are entitled to any particular priority,  or to exercise or to continue exercising at all or in any manner or under any duty of care, disclosure or  fidelity any of the rights, authorities and powers granted or available to the Collateral Agent in this  Section 9.11 or in any of the Collateral Documents, it being understood and agreed that in respect of the  -142-  





 






#95982248v17   Collateral, or any act, omission or event related thereto, the Collateral Agent may act in any manner it  may deem appropriate, in its sole discretion, given the Collateral Agent’s own interest in the Collateral as  one of the Lenders and that the Collateral Agent shall have no duty or liability whatsoever to the Lenders,  except for its gross negligence or willful misconduct (as determined by a court of competent jurisdiction  in a final and non-appealable decision).    Section 9.12 Other Agents; Arrangers and Managers. None of the Lenders, the  Agents, the Lead Arrangers or other Persons identified on the facing page or signature pages of this  Agreement as a “joint lead arranger and bookrunner” or “co-arranger” shall have any right, power,  obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders  as such. Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or  be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not  relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this  Agreement or in taking or not taking action hereunder.    Section 9.13 Appointment of Supplemental Administrative Agents.    (a) It is the purpose of this Agreement and the other Loan Documents that there shall  be no violation of any Law of any jurisdiction denying or restricting the right of banking corporations or  associations to transact business as agent or trustee in such jurisdiction. It is recognized that in case of  litigation under this Agreement or any of the other Loan Documents, and in particular in case of the  enforcement of any of the Loan Documents, or in case the Administrative Agent deems that by reason of  any present or future Law of any jurisdiction it may not exercise any of the rights, powers or remedies  granted herein or in any of the other Loan Documents or take any other action which may be desirable or  necessary in connection therewith, the Administrative Agent is hereby authorized to appoint an additional  individual or institution selected by the Administrative Agent in its sole discretion as a separate trustee,  co-trustee, administrative agent, collateral agent, administrative sub-agent or administrative co-agent (any  such additional individual or institution being referred to herein individually as a “Supplemental  Administrative Agent” and, collectively, as “Supplemental Administrative Agents”).    (b) In the event that the Administrative Agent appoints a Supplemental  Administrative Agent with respect to any Collateral, (i) each and every right, power, privilege or duty  expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or vested  in or conveyed to the Administrative Agent with respect to such Collateral shall be exercisable by and  vest in such Supplemental Administrative Agent to the extent, and only to the extent, necessary to enable  such Supplemental Administrative Agent to exercise such rights, powers and privileges with respect to  such Collateral and to perform such duties with respect to such Collateral, and every covenant and  obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such  Supplemental Administrative Agent shall run to and be enforceable by either the Administrative Agent or  such Supplemental Administrative Agent, and (ii) the provisions of this Article IX and of Section 10.04  and Section 10.05 that refer to the Administrative Agent shall inure to the benefit of such Supplemental  Administrative Agent and all references therein to the Administrative Agent shall be deemed to be  references to the Administrative Agent and/or such Supplemental Administrative Agent, as the context  may require.    (c) Should any instrument in writing from any Loan Party be required by any  Supplemental Administrative Agent so appointed by the Administrative Agent for more fully and  certainly vesting in and confirming to him or it such rights, powers, privileges and duties, the Borrower  shall, or shall cause such Loan Party to, execute, acknowledge and deliver any and all such instruments  promptly upon request by the Administrative Agent. In case any Supplemental Administrative Agent, or  a successor thereto, shall die, become incapable of acting, resign or be removed, all the rights, powers,  -143-  #95982248v17   privileges and duties of such Supplemental Administrative Agent, to the extent permitted by Law, shall  vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental  Administrative Agent.    Section 9.14 Withholding Tax. To the extent required by any applicable Law, the  Administrative Agent may deduct or withhold from any payment to any Lender under any Loan  Document an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or  any other Governmental Authority asserts a claim that the Administrative Agent did not properly  withhold Tax from amounts paid to or for the account of any Lender for any reason (including because  the appropriate form was not delivered or was not properly executed or because such Lender failed to  notify the Administrative Agent of a change in circumstance that rendered the exemption from, or  reduction of, withholding Tax ineffective), such Lender shall indemnify and hold harmless the  Administrative Agent fully for all amounts paid, directly or indirectly, by the Administrative Agent as  Tax or otherwise, and shall make payable in respect thereof within ten (10) days after demand therefore  including any penalties, additions to Tax or interest and together with all expenses (including legal  expenses, allocated internal costs and out-of-pocket expenses) incurred, whether or not such Tax was  correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the  amount of such payment or liability delivered to any Lender by the Administrative Agent shall be  conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and  apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan  Document against any amount due the Administrative Agent under this Section 9.14. The agreements in  this Section 9.14 shall survive the resignation and/or replacement of the Administrative Agent, any  assignment of rights by, or the replacement of, a Lender, the termination of this Agreement and the  repayment, satisfaction or discharge of all other obligations. For the avoidance of doubt, this Section 9.14  shall not limit or expand the obligations of the Borrower or any Guarantor under Section 3.01 or any  other provision of this Agreement.    ARTICLE X    Miscellaneous    Section 10.01   Amendments, Etc. Except as otherwise set forth in this Agreement,  no amendment or waiver of any provision of this Agreement or any other Loan Document, and no  consent to any departure by the Borrower or any other Loan Party therefrom, shall be effective unless in  writing signed by the Required Lenders and the Borrower or the applicable Loan Party, as the case may  be, and acknowledged by the Administrative Agent and each such waiver or consent shall be effective  only in the specific instance and for the specific purpose for which given; provided that no such  amendment, waiver or consent shall:    (a) extend or increase the Term Commitment of any Lender without the written  consent of each Lender directly and adversely affected thereby (it being understood that a waiver of any  condition precedent set forth in Section 4.02 or the waiver of any Default, mandatory prepayment or  mandatory reduction of the Term Commitments shall not constitute an extension or increase of any Term  Commitment of any Lender);    (b) postpone any date scheduled for, or reduce the amount of, any payment of  principal or interest under Section 2.07 or Section 2.08, fees or other amounts without the written consent  of each Lender directly and adversely affected thereby, it being understood that the waiver of (or  amendment to the terms of) any mandatory prepayment of the Term Loans shall not constitute a  postponement of any date scheduled for the payment of principal or interest;    -144-  





 






#95982248v17   (c) reduce the principal of, or the rate of interest specified herein on, any Loan, or  (subject to clause (iii) of the second proviso to this Section 10.01) any fees or other amounts payable  hereunder or under any other Loan Document without the written consent of each Lender directly and  adversely affected thereby, it being understood that any change to the definition of Senior Secured  Leverage Ratio, Senior Secured Leverage Ratio or Total Leverage Ratio or in the component definitions  thereof shall not constitute a reduction in the rate of interest or fees; provided that only the consent of the  Required Lenders shall be necessary to (i) amend the definition of “Default Rate”, (ii) to waive any  obligation of the Borrowers to pay interest at the Default Rate or (iii) effectuate or implement any  changes in accordance with Section 1.103.02;    (d) change any provision of this Section 10.01 or Section 8.04 or Section  10.07(b)(ii)(F)-(J) that would alter the pro rata sharing of payments, ratable reduction of Loans or the  definition of “Required Lenders” without the written consent of each Lender directly and adversely  affected thereby;    (e) release all or substantially all of the Collateral in any transaction or series of  related transactions, without the written consent of each Lender; provided that any transaction permitted  under Section 7.04 or Section 7.05 shall not be subject to this clause (e) to the extent such transaction  does not result in the release of all or substantially all of the Collateral;    (f) release all or substantially all of the value of the Guarantees in any transaction or  series of related transactions, without the written consent of each Lender; provided that any transaction  permitted under Section 7.04 or Section 7.05 shall not be subject to this clause (f) to the extent such  transaction does not result in the release of all or substantially all of the Guarantees; or    (g) change the definition of “Required Lenders” without the written consent of each  Lender.    and provided, further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the  Administrative Agent in addition to the Lenders required above, affect the rights or duties of, or any fees  or other amounts payable to, the Administrative Agent under this Agreement or any other Loan  Document; (ii) Section 10.07(h) may not be amended, waived or otherwise modified without the consent  of each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such  amendment, waiver or other modification; (iii) (A) any amendment or waiver that by its terms affects the  rights or duties of Lenders holding Loans or Term Commitments of a particular Class (but not the  Lenders holding Loans or Term Commitments of any other Class) will require only the requisite  percentage in interest of the affected Class of Lenders that would be required to consent thereto if such  Class of Lenders were the only Class of Lenders and (B) in determining whether the requisite percentage  of Lenders have consented to any amendment, modification, waiver or other action, any Defaulting  Lenders shall be deemed to have voted in the same proportion as those Lenders who are not Defaulting  Lenders, except with respect to (x) any amendment, waiver or other action which by its terms requires the  consent of all Lenders or each affected Lender and (y) any amendment, waiver or other action that by its  terms adversely affects any Defaulting Lender in its capacity as a Lender in a manner that differs in any  material respect from other affected Lenders, in which case the consent of such Defaulting Lender shall  be required. Notwithstanding the foregoing, this Agreement may be amended (or amended and restated)  with the written consent of the Required Lenders, and the Borrower and the Administrative Agent (a) to  add one or more additional credit facilities to this Agreement and to permit the extensions of credit from  time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in  the benefits of this Agreement and the other Loan Documents with the Term Loans, the Incremental Term      -145-  #95982248v17   Loans, if any, and the accrued interest and fees in respect thereof and (b) to include appropriately the  Lenders holding such credit facilities in any determination of the Required Lenders.    Notwithstanding anything to the contrary contained in this Section 10.01, any guarantees,  collateral security documents and related documents executed by Subsidiaries in connection with this  Agreement may be in a form reasonably determined by the Administrative Agent and may be, together  with this Agreement, amended, supplemented and waived with the consent of the Administrative Agent at  the request of the Borrower without the need to obtain the consent of any Lender if such amendment,  supplement or waiver is delivered in order (i) to comply with local Law or advice of local counsel, (ii) to  cure ambiguities, omissions, mistakes or defects or (iii) to cause such guarantee, collateral security  document or other document to be consistent with this Agreement and the other Loan Documents.  Furthermore, with the consent of the Administrative Agent at the request of the Borrower (without the  need to obtain any consent of any Lender), any Loan Document may be amended to cure ambiguities,  omissions, mistakes or defects.    Neither the Administrative Agent nor the Collateral Agent shall amend or waive any  provision of an Applicable Intercreditor Agreement (other than to cure ambiguities, omissions, mistakes  or defects or to add other parties thereto (to the extent contemplated by Section 7.01)) without the written  consent of the Required Lenders.    Notwithstanding anything in this Section 10.01 to the contrary, (a) technical and  conforming modifications to the Loan Documents may be made with the consent of the Borrower and the  Administrative Agent to the extent necessary (i) to integrate any Incremental Facilities, Refinancing Term  Loans or Extended Term Loans, (ii) to integrate terms or conditions from any Incremental Facility  Amendment that are more restrictive than this Agreement in accordance with Section 2.14(d) and (iii) to  make any amendments permitted by Section 1.03 and to give effect to any election to adopt IFRS and (b)  without the consent of any Lender, the Loan Parties and the Administrative Agent or any collateral agent  may (in their respective sole discretion, or shall, to the extent required by any Loan Document) enter into  (x) any amendment, modification or waiver of any Loan Document, or enter into any new agreement or  instrument, to effect the granting, perfection, protection, expansion or enhancement of any security  interest in any Collateral or additional property to become Collateral for the benefit of the Secured Parties  or as required by local law to give effect to, or protect any security interest for benefit of the Secured  Parties, in any property or so that the security interests therein comply with applicable law or this  Agreement or in each case to otherwise enhance the rights or benefits of any Lender under any Loan  Document or (y) any Applicable Intercreditor Agreement, in each case, with the holders of Indebtedness  permitted by this Agreement to be secured by the Collateral. Without limitation of the foregoing, the  Borrower may, without the consent of any Lenders, upon delivery to the Administrative Agent (i)  increase the interest rates (including any interest rate margins or interest rate floors), fees and other  amounts payable to any Class or Classes of Lenders hereunder, (ii) increase, expand and/or extend the call  protection provisions and any “most favored nation” provisions benefiting any Class or Classes of  Lenders hereunder (including, for the avoidance of doubt, the provisions of Sections 2.05(a)(iv) and  2.14(b)(ii) hereof) and/or (iii) with the consent of the Administrative Agent, modify any other provision  hereunder or under any other Loan Document in a manner, as determined by the Administrative Agent in  its sole discretion, more favorable to the then-existing Lenders or Class or Classes of Lenders, in each  case in connection with the issuance or incurrence of any Incremental Facilities or other Indebtedness  permitted hereunder, where the terms of any such Incremental Facilities or other Indebtedness are more  favorable to the lenders thereof than the corresponding terms applicable to other Loans or Term  Commitments then existing hereunder, and it is intended that one or more then-existing Classes of Loans  or Term Commitments under this Agreement share in the benefit of such more favorable terms in order to  comply with the provisions hereof relating to the incurrence of such Incremental Facilities or other  Indebtedness; provided that the Administrative Agent will have at least five Business Days (or such  -146-  





 






#95982248v17   shorter period to which the Administrative Agent may consent in its reasonable discretion) after written  notice from the Borrower to provide such consent and may, in its sole discretion, provide written notice to  the Lenders regarding any such proposed amendment.    Section 10.02 Notices and Other Communications; Facsimile Copies.    (a) General. Unless otherwise expressly provided herein, all notices and other  communications provided for hereunder or under any other Loan Document shall be in writing (including  by facsimile transmission). All such written notices shall be mailed, faxed or delivered to the applicable  address, facsimile number or electronic mail address, and all notices and other communications expressly  permitted hereunder to be given by telephone shall be made to the applicable telephone number, as  follows:    (i) if to the Borrower or the Administrative Agent, to the address, facsimile number,  electronic mail address or telephone number specified for such Person on Schedule 10.02 or to  such other address, facsimile number, electronic mail address or telephone number as shall be  designated by such party in a notice to the other parties; and    (ii) if to any other Lender, to the address, facsimile number, electronic mail address  or telephone number specified in its Administrative Questionnaire or to such other address,  facsimile number, electronic mail address or telephone number as shall be designated by such  party in a written notice to the Borrower and the Administrative Agent.    All such notices and other communications shall be deemed to be given or made upon the earlier to occur  of (i) actual receipt by the relevant party hereto and (ii) (A) if delivered by hand or by courier, when  signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, four (4) Business Days  after deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and receipt has been  confirmed by telephone; and (D) if delivered by electronic mail (which form of delivery is subject to the  provisions of Section 10.02(b)), when delivered; provided that notices and other communications to the  Administrative Agent pursuant to Article II shall not be effective until actually received by such Person  during the person’s normal business hours. In no event shall a voice mail message be effective as a  notice, communication or confirmation hereunder.    (b) Electronic Communications. Notices and other communications to the Lenders  hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or  intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the  foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender, as applicable, has  notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic  communication. The Administrative Agent or the Borrower may, in their discretion, agree to accept  notices and other communications to it hereunder by electronic communications pursuant to procedures  approved by it, provided that approval of such procedures may be limited to particular notices or  communications.    Unless the Administrative Agent otherwise prescribes, (i) notices and other  communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an  acknowledgement from the intended recipient (such as by the “return receipt requested” function, as  available, return e-mail or other written acknowledgement), provided that if such notice or other  communication is not sent during the normal business hours of the recipient, such notice or  communication shall be deemed to have been sent at the opening of business on the next business day for  the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed  received upon the deemed receipt by the intended recipient at its e-mail address as described in the  -147-  #95982248v17   foregoing clause (i) of notification that such notice or communication is available and identifying the  website address therefor.    (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS  AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE  ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF  THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS  FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED  OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A  PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM  FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN  CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the  Administrative Agent, Lead Arrangers or any of their respective Agent-Related Persons (collectively, the  “Agent Parties”) have any liability to the Loan Parties, any Lender, or any other Person for losses, claims,  damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the  Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet,  except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of  competent jurisdiction by a final and non-appealable judgment to have resulted from the gross negligence  or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party  have any liability to any Loan Party, any Lender, or any other Person for indirect, special, incidental,  consequential or punitive damages (as opposed to direct or actual damages).    (d) Change of Address, Etc. Each of the Parents, the Borrower and the  Administrative Agent may change its address, telecopier or telephone number for notices and other  communications hereunder by notice to the other parties hereto. Each other Lender may change its  address, facsimile or telephone number for notices and other communications hereunder by notice to the  Borrower and the Administrative Agent. In addition, each Lender agrees to notify the Administrative  Agents from time to time to ensure that the Administrative Agent has on record (i) an effective address,  contact name, telephone number, telecopier number and electronic mail address to which notices and  other communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each  Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times  have selected the “Private Side Information” or similar designation on the content declaration screen of  the Platform in order to enable such Public Lender or its delegate, in accordance with such Public  Lender’s compliance procedures and applicable Law, including United States Federal and state securities  Laws, to make reference to Borrower Materials that are not made available through the “Public Side  Information” portion of the Platform and that may contain material non-public information with respect to  the Borrower or its securities for purposes of United States Federal or state securities laws.    (e) Reliance by Agents and Lenders. The Administrative Agent and the Lenders  shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices)  purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner  specified herein, were incomplete or were not preceded or followed by any other form of notice specified  herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The  Borrower shall indemnify each Agent-Related Person and each Lender from all losses, costs, expenses  and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf  of the Borrower in the absence of gross negligence or willful misconduct. All telephonic notices to the  Administrative Agent may be recorded by the Administrative Agent and each of the parties hereto hereby  consents to such recording.    (f) Notice to other Loan Parties. The Borrower agree that notices to be given to any  other Loan Party under this Agreement or any other Loan Document may be given to the Borrower in  -148-  





 






#95982248v17   accordance with the provisions of this Section 10.02 with the same effect as if given to such other Loan  Party in accordance with the terms hereunder or thereunder.    (g) Communications. Each Loan Party hereby agrees that it will provide to the  Administrative Agent all information, documents and other materials that it is obligated to furnish to the  Administrative Agent pursuant to this Agreement and any other Loan Document, including all notices,  requests, financial statements, financial and other reports, certificates and other information materials, but  excluding any such communication (unless otherwise approved in writing by the Administrative Agent)  that (i) relates to a request for a new, or a conversion of an existing, Borrowing or other extension of  credit (including any election of an interest rate or interest period relating thereto), (ii) relates to the  payment of any principal or other amount due under this Agreement prior to the scheduled date therefor,  (iii) [reserved], (iv) provides notice of any Default under this Agreement or (v) is required to be delivered  to satisfy any condition precedent to the effectiveness of this Agreement and/or any borrowing or other  extension of credit hereunder (all such non-excluded communications, collectively, the “Specified  Communications”; and all such excluded and non-excluded communications, the “Communications”), by  transmitting the Specified Communications in an electronic/soft medium in a format reasonably  acceptable to the Administrative Agent at such e-mail address(es) provided to the Borrowers from time to  time or in such other form, including hard copy delivery thereof, as the Administrative Agent shall  require. In addition, each Loan Party agrees to continue to provide the Specified Communications to the  Administrative Agent in the manner specified in this Agreement or any other Loan Document or in such  other form, including hard copy delivery thereof, as the Administrative Agent shall reasonably request.  Nothing in this Section 10.03 shall prejudice the right of the Agents, any Lender or any Loan Party to  give any notice or other communication pursuant to this Agreement or any other Loan Document in any  other manner specified in this Agreement or any other Loan Document or as any such Agent shall require.    Section 10.03  No Waiver; Cumulative Remedies. No failure by any Lender or the  Administrative Agent or Collateral Agent to exercise, and no delay by any such Person in exercising, any  right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver  thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder  preclude any other or further exercise thereof or the exercise of any other right, remedy, power or  privilege. The rights, remedies, powers and privileges herein provided, and provided under each other  Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges  provided by Law.    Section 10.04  Attorney Costs and Expenses. The Borrower agree (a) if the Closing  Date occurs, to pay or reimburse the Administrative Agent and the Lead Arrangers for all reasonable and  documented or invoiced out-of-pocket costs and expenses associated with the syndication of the Loans  and Term Commitments and the preparation, execution and delivery, administration, amendment,  modification, waiver and/or enforcement of this Agreement and the other Loan Documents, and any  amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not  the transactions contemplated thereby are consummated), including all Attorney Costs of a single firm of  counsel (and any other counsel retained with the Borrower’s consent (such consent not to be  unreasonably withheld or delayed)) and one local and foreign counsel in each relevant jurisdiction, and  (b) to pay or reimburse the Administrative Agent, the Lead Arrangers and each Lender for all reasonable  and documented out-of-pocket costs and expenses incurred in connection with the enforcement of any  rights or remedies under this Agreement or the other Loan Documents (including all costs and expenses  incurred in connection with any workout or restructuring in respect of the Loans, all such costs and  expenses incurred during any legal proceeding, including any proceeding under any Debtor Relief Law,  and including all Attorney Costs of counsel to the Administrative Agent). The foregoing costs and  expenses shall include all reasonable search, filing, recording and title insurance charges and fees related  thereto, and other reasonable and documented out-of-pocket expenses incurred by any Agent.  The  -149-  #95982248v17   agreements in this Section 10.04 shall survive the termination of the Aggregate Commitments and  repayment of all other Obligations. All amounts due under this Section 10.04 shall be paid within ten  (10) Business Days of receipt by the Borrower of an invoice relating thereto setting forth such expenses in  reasonable detail.    Section 10.05 Indemnification by the Borrower. Whether or not the transactions  contemplated hereby are consummated, the Borrower shall indemnify and hold harmless each  Agent-Related Person, each Lender, each Lead Arranger and their respective Affiliates and their and their  Affiliates’ respective partners, directors, officers, employees, counsel, agents, advisors, and other  representatives (collectively, the “Indemnitees”) from and against any and all losses, liabilities, damages,  claims, and reasonable and documented or invoiced out-of-pocket fees and expenses (including  reasonable Attorney Costs of one counsel for all Indemnitees and, if necessary, one firm of local counsel  in each appropriate jurisdiction (which may include a single special counsel acting in multiple  jurisdictions) for all Indemnitees (and, in the case of an actual or perceived conflict of interest, where the  Indemnitee affected by such conflict informs the Borrower of such conflict and thereafter retains its own  counsel, of another firm of counsel for such affected Indemnitee)) of any such Indemnitee arising out of  or relating to any claim or any litigation or other proceeding (regardless of whether such Indemnitee is a  party thereto and whether or not such proceedings are brought by the Borrower, its equity holders, its  Affiliates, creditors or any other third person) that relates to the Transaction, including the financing  contemplated hereby, of any kind or nature whatsoever which may at any time be imposed on, incurred  by or asserted against any such Indemnitee in any way relating to or arising out of or in connection with  (a) the execution, delivery, enforcement, performance or administration of any Loan Document or any  other agreement, letter or instrument delivered in connection with the transactions contemplated thereby  or the consummation of the transactions contemplated thereby, (b) any Term Commitment, Loan or the  use or proposed use of the proceeds therefrom, or (c) any actual or alleged presence or Release or threat  of Release of Hazardous Materials on, at, under or from any property currently or formerly owned, leased  or operated by the Borrower, any other Loan Party or any of their respective Subsidiaries, or any  Environmental Liability related in any way to the Borrower, any other Loan Party or any of their  respective Subsidiaries, or (d) any actual or prospective claim, litigation, investigation or proceeding  relating to any of the foregoing, whether based on contract, tort or any other theory (including any  investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or  proceeding) (all the foregoing, collectively, the “Indemnified Liabilities”), in all cases, whether or not  caused by or arising, in whole or in part, out of the negligence of the Indemnitee; provided that such  indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations,  losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements  resulted from (x) the gross negligence, bad faith or willful misconduct of such Indemnitee or of any of its  controlled Affiliates or controlling Persons or any of the partners, officers, directors, employees, agents,  advisors or members of any of the foregoing, in each case who are involved in or aware of the  Transaction (as determined by a court of competent jurisdiction in a final and non-appealable decision),  (y) a material breach of the Loan Documents by such Indemnitee or one of its Affiliates (as determined by  a court of competent jurisdiction in a final and non-appealable decision) or (z) disputes solely between  and among such Indemnitees to the extent such disputes do not arise from any act or omission of the  Borrower or any of their Affiliates (other than with respect to a claim against an Indemnitee acting in its  capacity as an Agent or Lead Arranger or similar role under the Loan Documents unless such claim arose  from the gross negligence, bad faith or willful misconduct of such Indemnitee (as determined by a court  of competent jurisdiction in a final and non-appealable decision)). No Indemnitee shall be liable for any  damages arising from the use by others of any information or other materials obtained through IntraLinks  or other similar information transmission systems in connection with this Agreement, nor shall any  Indemnitee or any Loan Party have any liability for any special, punitive, indirect or consequential  damages relating to this Agreement or any other Loan Document or arising out of its activities in  connection herewith or therewith (whether before or after the Closing Date); provided that the foregoing  -150-  





 






#95982248v17   shall not limit any Loan Party’s indemnification obligations hereunder. In the case of an investigation,  litigation or other proceeding to which the indemnity in this Section 10.05 applies, such indemnity shall  be effective whether or not such investigation, litigation or proceeding is brought by any Loan Party, its  directors, managers, partners, stockholders or creditors or an Indemnitee or any other Person, whether or  not any Indemnitee is otherwise a party thereto and whether or not any of the transactions contemplated  hereunder or under any of the other Loan Documents is consummated. All amounts due under this  Section 10.05 shall be paid within ten (10) Business Days after demand therefor; provided, however, if  the Borrower has reimbursed any Indemnitee for any legal or other expenses in connection with any  Indemnified Liabilities and there is a final non-appealable judgment of a court of competent jurisdiction  that the Indemnitee was not entitled to indemnification or contribution with respect to such Indemnified  Liabilities pursuant to the express terms of this Section 10.05, then the Indemnitee shall promptly refund  such expenses paid by the Borrower to the Indemnitee. The agreements in this Section 10.05 shall  survive the resignation of the Administrative Agent, the replacement of any Lender, the termination of the  Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. For  the avoidance of doubt, this Section 10.05 shall not apply to Taxes other than Taxes that represent  liabilities, obligations, losses, damages, etc., with respect to a non-Tax claim.    Section 10.06   Payments Set Aside. To the extent that any payment by or on behalf  of the Borrower is made to any Agent or any Lender, or any Agent or any Lender exercises its right of  setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated,  declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement  entered into by such Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other  party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent  of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and  continued in full force and effect as if such payment had not been made or such setoff had not occurred,  and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share  of any amount so recovered from or repaid by any Agent, plus interest thereon from the date of such  demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate (or if the  Federal Funds Rate is not available, a rate determined by the Administrative Agent in accordance with  banking industry rules on interbank compensation).    Section 10.07 Successors and Assigns.    (a) The provisions of this Agreement shall be binding upon and inure to the benefit  of the parties hereto and their respective successors and assigns permitted hereby, except as otherwise  provided herein (including without limitation as permitted under Section 7.04), neither the Parents nor  any of their respective Subsidiaries may assign or otherwise transfer any of its rights or obligations  hereunder without the prior written consent of each Lender and no Lender may assign or otherwise  transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee, (ii) by way of  participation in accordance with the provisions of Section 10.07(e), (iii) by way of pledge or assignment  of a security interest subject to the restrictions of Section 10.07(g) or (iv) to an SPC in accordance with  the provisions of Section 10.07(h) (and any other attempted assignment or transfer by any party hereto  (other than to any Disqualified Lender) shall be null and void). Nothing in this Agreement, expressed or  implied, shall be construed to confer upon any Person (other than the parties hereto, their respective  successors and assigns permitted hereby, Participants to the extent provided in Section 10.07(e) and, to  the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim  under or by reason of this Agreement.    (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may  assign to one or more assignees (“Assignees”) all or a portion of its rights and obligations under this    -151-  #95982248v17   Agreement (including all or a portion of its Term Commitment and the Loans at the time owing to it) with  the prior written consent (such consent not to be unreasonably withheld or delayed) of:    (A) the Borrower; provided that, (I) no consent of the Borrower shall be required for  an assignment (1) of any Term Loan to any other Lender, any Affiliate of a Lender or any  Approved Fund or (2) if a Specified Event of Default has occurred and is continuing, to any  Assignee and (II) the Borrower shall be deemed to have consented to any such assignment of any  Term Loan unless it shall object thereto by written notice to the Administrative Agent within ten  (10) Business Days after having received notice thereof; and    (B) the Administrative Agent; provided that no consent of the Administrative Agent  shall be required for an assignment of all or any portion of a Term Loan to another Lender, an  Affiliate of a Lender or an Approved Fund.    (ii) Assignments shall be subject to the following additional conditions:    (A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an  Approved Fund or an assignment of the entire remaining amount of the assigning Lender’s Term  Commitment or Loans of any Class, the amount of the Term Commitment or Loans of the  assigning Lender subject to each such assignment (determined as of the date the Assignment and  Assumption with respect to such assignment is delivered to the Administrative Agent) shall not  be less than $1,000,000 unless the Borrower and the Administrative Agent otherwise consent;  provided that (1) no such consent of the Borrower shall be required if a Specified Event of  Default has occurred and is continuing and (2) such amounts shall be aggregated in respect of  each Lender and its Affiliates or Approved Funds, if any;    (B) the parties to each assignment shall execute and deliver to the Administrative  Agent an Assignment and Assumption;    (C) (1) the Assignee, if it shall not be a Lender, shall deliver to the Administrative  Agent an Administrative Questionnaire and any documentation required by Section 3.01(f) and  (2) the Assignee shall have delivered to the Administrative Agent all documentation and other  information that the Administrative Agent reasonably requests in order to comply with its  ongoing obligations under applicable “know your customer”, and anti-money laundering rules  and regulations, including the USA PATRIOT Act;    (D) the Assignee shall not be a natural person, or a Disqualified Lender (and such  Assignee shall be required to represent that it is not a Disqualified Lender or an Affiliate of a  Disqualified Lender that would constitute a Disqualified Lender but for the fact that it is not  readily identifiable as such on the basis of its name); provided that the list of Disqualified  Lenders shall not be posted or otherwise distributed to the Lenders, prospective Lenders and  prospective assignees;    (E) the Assignee shall not be a Defaulting Lender; and    (F) in case of an assignment to an Affiliated Lender, (1) after giving effect to such  assignment and to all other assignments with all Affiliated Lenders, the aggregate principal  amount (without duplication) of all Term Loans and Term Commitments then held by all  Affiliated Lenders (other than Affiliated Debt Funds) shall not exceed 25% of the aggregate  unpaid principal amount of the Term Loans then outstanding (determined at the time of such  purchase), (2) any Loans and Term Commitments assigned to, or purchased by, any Parent or any  -152-  





 






#95982248v17   of their Subsidiaries shall be canceled promptly upon such assignment, (3) in the event that any  proceeding under the Bankruptcy Code shall be instituted by or against the Borrower or any other  Guarantor, each Affiliated Lender shall acknowledge and agree that they are each “insiders”  under Section 101(31) of the Bankruptcy Code and, as such, the claims associated with the Loans  and Term Commitments owned by it shall not be included in determining whether the applicable  class of creditors holding such claims has voted to accept a proposed plan for purposes of  Section 1129(a)(10) of the Bankruptcy Code, or, alternatively, to the extent that the foregoing  designation is deemed unenforceable for any reason, each Affiliated Lender shall vote in such  proceedings in the same proportion as the allocation of voting with respect to such matter by  those Lenders who are not Affiliated Lenders, except to the extent that any plan of reorganization  proposes to treat the Obligations held by such Affiliated Lender in a manner that is less favorable  in any material respect to such Affiliated Lender than the proposed treatment of similar  Obligations held by Lenders that are not Affiliated Lenders; provided that this clause (3) shall not  apply to Affiliated Debt Funds, (4) such Affiliated Lender (other than Affiliated Debt Fund) will  not receive information provided solely to Lenders and will not be permitted to attend or  participate in (or receive any notice of) Lender meetings or conference calls and will not be  entitled to challenge the Administrative Agent’s and the Lenders’ attorney-client privilege as a  result of their status as Affiliated Lenders and (5) notwithstanding anything to the contrary  contained herein, any such Loans acquired by an Affiliated Lender (other than the Borrower)  may, with the consent of the Borrower, be contributed to the Borrower (whether through any of  its direct or indirect parent entities or otherwise) and exchanged for debt or equity securities of  any Parent or such other direct or indirect parent that are otherwise permitted to be issued at such  time, provided that such Loans shall be canceled promptly upon such contribution;    (G) notwithstanding anything in Section 10.01 or the definition of “Required  Lenders” to the contrary, for purposes of determining whether the Required Lenders have (x)  consented (or not consented) to any amendment, modification, waiver, consent or other action  with respect to any of the terms of any Loan Document or any departure by any Loan Party  therefrom, (y) otherwise acted on any matter related to any Loan Document or (z) directed or  required the Administrative Agent or any Lender to undertake any action (or refrain from taking  any action) with respect to or under any Loan Document, all Loans and Term Commitments held  by Affiliated Debt Funds may not account for more than 49.9% (pro rata among such Affiliated  Debt Funds) of the Loans and Term Commitments (without duplication) of consenting Lenders  included in determining whether the Required Lenders have consented to any action pursuant to  Section 10.01;    (H) a Parent and its Subsidiaries may not purchase any Loans or Term Commitments  so long as any Event of Default has occurred and is continuing;    (I) any purchases by Affiliated Lenders shall require that such Affiliated Lender  clearly identify itself as an Affiliated Lender in any Assignment and Assumption executed in  connection with such purchases or sales and each such Assignment and Assumption shall contain  customary “big boy” representations but no requirement to make representations as to the absence  of any material non-public information; and    (J) notwithstanding anything in Section 10.01 or the definition of “Required  Lenders” to the contrary, for purposes of determining whether the Required Lenders have (i)  consented (or not consented) to any amendment, modification, waiver, consent or other action  with respect to any of the terms of any Loan Document or any departure by any Loan Party  therefrom (unless the action in question affects any Affiliated Lenders (other than Affiliated Debt  Funds) in a disproportionately adverse manner than its effect on the other Lenders), or any plan of  -153-  #95982248v17   reorganization pursuant to the Bankruptcy Code, (ii) otherwise acted on any matter related to any  Loan Document, or (iii) directed or required the Administrative Agent or any Lender to undertake  any action (or refrain from taking any action) with respect to or under any Loan Document, no  Affiliated Lender (other than Affiliated Debt Fund) shall have any right to consent (or not  consent), otherwise act or direct or require the Administrative Agent or any Lender to take (or  refrain from taking) any such action and:    (1) all Loans and Term Commitments held by any Affiliated Lenders (other than  Affiliated Debt Funds) shall be deemed to be not outstanding for all purposes of calculating  whether the Required Lenders have taken any actions; and    (2) all Loans and Term Commitments held by Affiliated Lenders (other than  Affiliated Debt Funds) shall be deemed to be not outstanding for all purposes of calculating  whether all Lenders have taken any action unless the action in question affects such Affiliated  Lender in a disproportionately adverse manner than its effect on other Lenders.    This paragraph (b) shall not prohibit any Lender from assigning all or a portion of its  rights and obligations among separate Facilities on a non pro rata basis.    (c) Subject to acceptance and recording thereof by the Administrative Agent  pursuant to Section 10.07(d) and receipt by the Administrative Agent from the parties to each assignment  of a processing and recordation fee of $3,500 (provided that (x) the Administrative Agent may, in its sole  discretion, elect to waive such processing and recordation fee in the case of any assignment and (y) such  processing and recordation fee shall not be payable in the case of assignments by any Affiliate of the  Lead Arrangers), from and after the effective date specified in each Assignment and Assumption, the  Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned  by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement,  and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and  Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and  Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such  Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 3.01,  3.03, 3.04, 10.04 and 10.05 with respect to facts and circumstances occurring prior to the effective date of  such assignment). Upon request, and the surrender by the assigning Lender of its Term Note (if any), the  Borrower (at its expense) shall execute and deliver a Term Note to the assignee Lender. Any assignment  or transfer by a Lender of rights or obligations under this Agreement that does not comply with this  clause (c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in  such rights and obligations in accordance with Section 10.07(e). For greater certainty, any assignment by  a Lender pursuant to this Section 10.07 shall not in any way constitute or be deemed to constitute a  novation, discharge, recession, extinguishment or substitution of the existing Indebtedness and any  Indebtedness so assigned shall continue to be the same obligation and not a new obligations.    (d) The Administrative Agent, acting solely for this purpose as an agent of the  Borrower, shall maintain at the Administrative Agent’s Office a copy of each Assignment and  Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders,  and the Term Commitments of, and principal amounts (and related interest amounts) of the Loans, owing  to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the  Register shall be conclusive, absent demonstrable error, and the Borrower, the Agents and the Lenders  shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender  hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register is  intended to ensure that all Loans are at all times maintained in “registered form” within the meaning of  Section 5f.103(c) of the United States Treasury Regulations and, if different, under Section 871(h) or  -154-  





 






#95982248v17   881(c) of the Code. The Register shall be available for inspection by the Borrower, any Agent and any  Lender (with respect to its own interests only), at any reasonable time and from time to time upon  reasonable prior notice.    (e) Any Lender may at any time, without the consent of, or notice to, the Borrower  or the Administrative Agent, sell participations to any Person (other than a natural person, an Affiliated  Lender (but excluding any Affiliated Debt Funds) or, so long as whether a prospective participant is a  Disqualified Lender may be communicated to a Lender upon request, a Disqualified Lender) (each, a  “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement  (including all or a portion of its Term Commitment and/or the Loans owing to it); provided that (i) such  Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely  responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the  Agents and the other Lenders shall continue to deal solely and directly with such Lender in connection  with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant  to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to  enforce this Agreement and the other Loan Documents and to approve any amendment, modification or  waiver of any provision of this Agreement or the other Loan Documents; provided that such agreement or  instrument may provide that such Lender will not, without the consent of the Participant, agree to any  amendment, waiver or other modification described in Section 10.01(a), (b), (c), (d), (e) or (f) that  directly affects such Participant. Subject to Section 10.07(f), the Borrower agree that each Participant  shall be entitled to the benefits of Sections 3.01, 3.03 and 3.04 (through the applicable Lender), subject to  the requirements and limitations of such Sections (including Section 3.01(f)) and Sections 3.05 and 3.06,  to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section  10.07(b) (provided that any documentation required to be provided under Section 3.01(f) shall be  provided solely to the participating Lender. To the extent permitted by applicable Law, each Participant  also shall be entitled to the benefits of Section 10.09 as though it were a Lender; provided that such  Participant agrees to be subject to Section 2.13 as though it were a Lender. Any Lender that sells  participations and any Granting Lender shall maintain a register on which it enters the name and the  address of each Participant or SPC and the principal amounts and related interest amounts of each  Participant’s or SPC’s interest in the Term Commitments and/or Loans (or other rights or obligations)  held by it (the “Participant Register”). The entries in the Participant Register shall be conclusive, absent  demonstrable error, and such Lender shall treat each person whose name is recorded in the Participant  Register as the owner of such participation interest or granted Loan as the owner thereof for all purposes  notwithstanding any notice to the contrary. In maintaining the Participant Register, such Lender shall be  acting as the non-fiduciary agent of the Borrower solely for this purpose (without limitation, in no event  shall such Lender be a fiduciary of the Borrower for any purpose). No Lender shall have any obligation to  disclose all or any portion of a Participant Register to any Person (including the identity of any  Participant or any information relating to a Participant’s interest in any commitments, loans, or its other  obligations under this Agreement) except to the extent that such disclosure is necessary to establish that  such commitment, loan, or other obligation is in registered form under Section 5f.103(c) of the United  States Treasury Regulations and, if different, under Section 871(h) or 881(c) of the Code.    (f) A Participant shall not be entitled to receive any greater payment under Section  3.01, 3.03 or 3.04 than the applicable Lender would have been entitled to receive with respect to the  participation sold to such Participant.    (g) Any Lender may at any time pledge or assign a security interest in all or any  portion of its rights under this Agreement (including under its Term Note, if any) to secure obligations of  such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other      -155-  #95982248v17   central bank; provided that no such pledge or assignment shall release such Lender from any of its  obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.    (h) Notwithstanding anything to the contrary contained herein, any Lender (a  “Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time  to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the option to  provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make  pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to  fund any Loan and (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any  part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof.  Each party hereto hereby agrees that (i) an SPC shall be entitled to the benefit of Sections 3.01, 3.03 and  3.04, subject to the requirements and limitations of such Sections (including Section 3.01(e) and (f) and  Sections 3.05 and 3.06), to the same extent as if such SPC were a Lender, but neither the grant to any SPC  nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or  change the obligations of the Borrower under this Agreement (including its obligations under Section  3.01, 3.03 or 3.04) except to the extent any entitlement to greater amounts results from a Change in Law  after the grant to the SPC occurred, (ii) no SPC shall be liable for any indemnity or similar payment  obligation under this Agreement for which a Lender would be liable and such liability shall remain with  the Granting Lender, and (iii) the Granting Lender shall for all purposes, including the approval of any  amendment, waiver or other modification of any provision of any Loan Document, remain the lender of  record hereunder. The making of a Loan by an SPC hereunder shall utilize the Term Commitment of the  Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender.  Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without  prior consent of the Borrower and the Administrative Agent, assign all or any portion of its right to  receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis  any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer  or provider of any surety or Guarantee Obligation or credit or liquidity enhancement to such SPC.    (i) Notwithstanding anything to the contrary contained herein, (1) any Lender may  in accordance with applicable Law create a security interest in all or any portion of the Loans owing to it  and the Term Note, if any, held by it and (2) any Lender that is a Fund may create a security interest in all  or any portion of the Loans owing to it and the Term Note, if any, held by it to the trustee for holders of  obligations owed, or securities issued, by such Fund as security for such obligations or securities;  provided that unless and until such trustee actually becomes a Lender in compliance with the other  provisions of this Section 10.07, (i) no such pledge shall release the pledging Lender from any of its  obligations under the Loan Documents and (ii) such trustee shall not be entitled to exercise any of the  rights of a Lender under the Loan Documents even though such trustee may have acquired ownership  rights with respect to the pledged interest through foreclosure or otherwise.    (j) No Agent-Related Person shall be responsible or have any liability for, or have  any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to  Disqualified Lenders; further, without limiting the generality of the foregoing clause, no Agent-Related  Person shall (x) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or  prospective Lender or Participant is a Disqualified Lender or (y) have any liability with respect to or  arising out of any assignment or participation of Loans, or disclosure of confidential information, to any  Disqualified Lender.    Section 10.08  Confidentiality. Each of the Agents and the Lenders agrees to  maintain the confidentiality of the Information and to not use or disclose such information, except that  Information may be disclosed (a) to its Affiliates and its and its Affiliates’ partners, directors, officers,  employees, trustees, investment advisors, professionals and other experts or agents, including  -156-  





 






#95982248v17   accountants, legal counsel, independent auditors and other advisors (it being understood that the Persons  to whom such disclosure is made will be informed of the confidential nature of such Information and  instructed to keep such Information confidential); (b) to the extent requested by any Governmental  Authority, to any pledgee referred to in Section 10.07(g); (c) to the extent required by applicable Laws or  regulations or by any subpoena or similar legal process; (d) to any other party to this Agreement; (e)  subject to an agreement containing provisions substantially the same as those of this Section 10.08 (or as  may otherwise be reasonably acceptable to the Borrower), to any pledgee referred to in Section 10.07(i),  counterparty to a Swap Contract or Permitted Receivables Financing, Eligible Assignee of or Participant  in, or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this  Agreement; (f) with the written consent of the Borrower; (g) to the extent such Information becomes  publicly available other than as a result of a breach of this Section 10.08; (h) to any Governmental  Authority or examiner regulating any Lender; (i) to any rating agency when required by it (it being  understood that, prior to any such disclosure, such rating agency shall undertake to preserve the  confidentiality of any Information relating to the Loan Parties received by it from such Lender); (j) in  connection with the exercise of any remedies hereunder or under any other Loan Document or any action  or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights  hereunder or thereunder; (k) to the extent that such Information is received by such Lender or any of its  Affiliates from a third party that is not, to such Lender’s knowledge, subject to any contractual or  fiduciary confidentiality obligations owing to the Borrower or any of its Affiliates; (l) to the extent that  such Information is independently developed by such Lender or any of its Affiliates; (m) to the extent  consisting of customary disclosure regarding portfolio holdings in any public filing by such Lender or (n)  upon the request or demand of any Governmental Authority or other regulatory authority having  jurisdiction over the Agent or Lenders, as applicable, (in which case the Agent or Lenders, as applicable,  agree (except with respect to any audit or examination conducted by bank accountants or any regulatory  authority exercising examination or regulatory authority), to the extent practicable and not prohibited by  applicable law, rule or regulation, to inform the Borrower promptly thereof prior to disclosure). In  addition, the Agents and the Lenders may disclose the existence of this Agreement and information about  this Agreement to market data collectors, similar service providers to the lending industry, and service  providers to the Agents and the Lenders in connection with the administration and management of this  Agreement, the other Loan Documents, the Term Commitments, and the Credit Extensions. For the  purposes of this Section 10.08, “Information” means all information received from any Loan Party or its  Affiliates or its Affiliates’ directors, managers, officers, employees, trustees, investment advisors or  agents, relating to any Parent, the Borrower or any of their Subsidiaries or their business, other than any  such information that is available to any Agent or any Lender on a nonconfidential basis and other than  information pertaining to this Agreement routinely provided by arrangers to data service providers,  including league table providers, that serve the lending industry prior to disclosure by any Loan Party  other than as a result of a breach of this Section 10.08, including, without limitation, information  delivered pursuant to Section 6.01, 6.02 or 6.03 hereof.    Section 10.09  Setoff. In addition to any rights and remedies of the Lenders  provided by Law, upon the occurrence and during the continuance of any Event of Default, each Agent  and its Affiliates and each Lender and its Affiliates is authorized at any time and from time to time,  without prior notice to the Borrower or any other Loan Party, any such notice being waived by the  Borrower (on its own behalf and on behalf of each Loan Party and its Subsidiaries) to the fullest extent  permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand,  provisional or final) at any time held by, and other Indebtedness (in any currency) at any time owing by,  such Agent and its Affiliates and such Lender and its Affiliates, as the case may be, to or for the credit or  the account of the respective Loan Parties and their Subsidiaries against any and all Obligations owing to  such Agent and its Affiliates or such Lender and its Affiliates hereunder or under any other Loan  Document, now or hereafter existing, irrespective of whether or not such Agent, such Lender or such  Affiliate shall have made demand under this Agreement or any other Loan Document and although such  -157-  #95982248v17   Obligations may be contingent or unmatured or denominated in a currency different from that of the  applicable deposit or Indebtedness. Notwithstanding anything to the contrary contained herein, none of  each Agent and its Affiliates and each Lender and its Affiliates shall have a right to set off and apply any  deposits held or other Indebtedness owing by such Agent or its Affiliates and such Lender or its  Affiliates, as the case may be, to or for the credit or the account of any Subsidiary of a Loan Party that is  a Foreign Subsidiary or a Foreign Holding Company. Each Lender agrees promptly to notify the  Borrower and the Administrative Agent after any such set off and application made by such Lender, as  the case may be; provided that the failure to give such notice shall not affect the validity of such setoff  and application. The rights of each Agent and each Lender under this Section 10.09 are in addition to  other rights and remedies (including other rights of setoff) that such Agent and such Lender may have.    Section 10.10   Counterparts. This Agreement and each other Loan Document may  be executed in one or more counterparts, each of which shall be deemed an original, but all of which  together shall constitute one and the same instrument. Delivery by telecopier or other electronic  transmission of an executed counterpart of a signature page to this Agreement and each other Loan  Document shall be effective as delivery of an original executed counterpart of this Agreement and such  other Loan Document. The Agents may also require that any such documents and signatures delivered by  telecopier or other electronic transmission be confirmed by a manually signed original thereof; provided  that the failure to request or deliver the same shall not limit the effectiveness of any document or  signature delivered by telecopier or other electronic transmission.    Section 10.11  Integration.  This Agreement, together with the other Loan  Documents and the Agent Fee Letter and Engagement Letter, comprises the complete and integrated  agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements,  written or oral, on such subject matter. In the event of any conflict between the provisions of this  Agreement and those of any other Loan Document, the provisions of this Agreement shall control;  provided that the inclusion of supplemental rights or remedies in favor of the Agents or the Lenders in  any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan Document was  drafted with the joint participation of the respective parties thereto and shall be construed neither against  nor in favor of any party, but rather in accordance with the fair meaning thereof.    Section 10.12  Survival of Representations and Warranties. All representations and  warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto  or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and  thereof. Such representations and warranties have been or will be relied upon by each Agent and each  Lender, regardless of any investigation made by any Agent or any Lender or on their behalf and  notwithstanding that any Agent or any Lender may have had notice or knowledge of any Default at the  time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other  Obligation hereunder shall remain unpaid. The provisions of Sections 10.14 and 10.15 shall continue in  full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or  unsatisfied.    Section 10.13  Severability. If any provision of this Agreement or the other Loan  Documents is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the  remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired  thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render  unenforceable such provision in any other jurisdiction.          -158-  





 






#95982248v17   Section 10.14 GOVERNING LAW, JURISDICTION, SERVICE OF PROCESS.    (a) THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT SHALL BE  GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF  NEW YORK (EXCEPT AS OTHERWISE EXPRESSLY PROVIDED THEREIN).    (b) EXCEPT AS SET FORTH IN THE FOLLOWING PARAGRAPH, ANY  LEGAL ACTION OR PROCEEDING ARISING UNDER ANY LOAN DOCUMENT OR IN ANY  WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE  PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE  TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR  HEREAFTER ARISING, SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK  SITTING IN THE BOROUGH OF MANHATTAN OR OF THE UNITED STATES FOR THE  SOUTHERN DISTRICT OF SUCH STATE (PROVIDED THAT IF NONE OF SUCH COURTS CAN  AND WILL EXERCISE SUCH JURISDICTION, SUCH EXCLUSIVITY SHALL NOT APPLY), AND  BY EXECUTION AND DELIVERY OF THIS AGREEMENT, THE BORROWER, EACH PARENT,  EACH AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS  PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS. THE BORROWER,  EACH PARENT, EACH AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY  OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE  GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO  THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF  ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO.    NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT  SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, THE COLLATERAL  AGENT OR ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR  PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT  AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION  (I) FOR PURPOSES OF ENFORCING A JUDGMENT, (II) IN CONNECTION WITH EXERCISING  REMEDIES AGAINST THE COLLATERAL IN A JURISDICTION IN WHICH SUCH  COLLATERAL IS LOCATED, (III) IN CONNECTION WITH ANY PENDING BANKRUPTCY,  INSOLVENCY OR SIMILAR PROCEEDING IN SUCH JURISDICTION OR (IV) TO THE EXTENT  THE COURTS REFERRED TO IN THE PREVIOUS PARAGRAPH DO NOT HAVE JURISDICTION  OVER SUCH LEGAL ACTION OR PROCEEDING OR THE PARTIES OR PROPERTY SUBJECT  THERETO.    Section 10.15  WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY TO  THIS AGREEMENT HEREBY EXPRESSLY WAIVES TO THE FULLEST EXTENT PERMITTED  BY APPLICABLE LAW ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION  OR CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY  CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES  HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE  TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR  HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE;  AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND,  ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY,  AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR  A COPY OF THIS SECTION 10.15 WITH ANY COURT AS WRITTEN EVIDENCE OF THE      -159-  #95982248v17   CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY  JURY.    Section 10.16  Binding Effect. This Agreement shall become effective when it shall  have been executed by each of the Borrower and each Parent and the Administrative Agent shall have  been notified by each Lender that each such Lender has executed it and thereafter shall be binding upon  and inure to the benefit of the Borrower, each Parent, each Agent and each Lender and their respective  successors and assigns, except that the Borrower and the Parents shall not have the right to assign their  rights hereunder or any interest herein without the prior written consent of the Lenders except as  permitted by Section 7.04.    Section 10.17 Judgment Currency. If, for the purposes of obtaining judgment in any  court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into  another currency, the rate of exchange used shall be that at which in accordance with normal banking  procedures the Administrative Agent could purchase the first currency with such other currency on the  Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect  of any such sum due from it to the Administrative Agent or the Lenders hereunder or under the other  Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other  than that in which such sum is denominated in accordance with the applicable provisions of this  Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day  following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment  Currency, the Administrative Agent may in accordance with normal banking procedures purchase the  Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so  purchased is less than the sum originally due to the Administrative Agent from the Borrower in the  Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such  judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing  against such loss. If the amount of the Agreement Currency so purchased is greater than the sum  originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the  amount of any excess to the Borrower (or to any other Person who may be entitled thereto under  applicable Law).    Section 10.18   Lender Action. Each Lender agrees that it shall not take or institute  any actions or proceedings, judicial or otherwise, for any right or remedy against any Loan Party or any  other obligor under any of the Loan Documents (including the exercise of any right of setoff, rights on  account of any banker’s lien or similar claim or other rights of self-help), or institute any actions or  proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other  property of any such Loan Party, without the prior written consent of the Administrative Agent. The  provisions of this Section 10.18 are for the sole benefit of the Lenders and shall not afford any right to, or  constitute a defense available to, any Loan Party.    Section 10.19  Know-Your-Customer, Etc. Each Lender shall, promptly following a  request by the Administrative Agent, provide all documentation and other information that the  Administrative Agent reasonably requests in order to comply with its ongoing obligations under  applicable “know your customer” and anti-money laundering rules and regulations, including the USA  PATRIOT Act and the Beneficial Ownership Regulation.    Section 10.20  USA PATRIOT Act. Each Lender hereby notifies the Borrower that,  pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record  information that identifies the Borrower and the Guarantors, which information includes the name and      -160-  





 






#95982248v17   address of the Borrower and the Guarantors and other information that will allow such Lender to identify  the Borrower and the Guarantors in accordance with the USA PATRIOT Act.    Section 10.21 Applicable Intercreditor Agreements.    (a) Notwithstanding anything to the contrary in this Agreement or in any other Loan  Document: (i) the Liens granted to the Collateral Agent in favor of the Secured Parties pursuant to the  Loan Documents and the exercise of any right related to any Collateral shall be subject, in each case, to  the terms the ABL Intercreditor Agreement, Term Intercreditor Agreement or any other Applicable  Intercreditor Agreement, (ii) in the event of any conflict between the express terms and provisions of this  Agreement or any other Loan Document, on the one hand, and the ABL Intercreditor Agreement, Term  Intercreditor Agreement or any other Applicable Intercreditor Agreement, on the other hand, the terms  and provisions of the ABL Intercreditor Agreement, Term Intercreditor Agreement or any other  Applicable Intercreditor Agreement, as the case may be, shall control, and (iii) each Lender (and, by its  acceptance of the benefits of any Collateral Document, each other Secured Party) hereunder authorizes  and instructs the Administrative Agent and Collateral Agent to execute the ABL Intercreditor Agreement,  Term Intercreditor Agreement or any other Applicable Intercreditor Agreement on behalf of such Lender,  and such Lender agrees to be bound by the terms thereof.    (b) Each Lender (and, by its acceptance of the benefits of any Collateral Document,  each other Secured Party) hereunder authorizes and instructs the Collateral Agent, as Collateral Agent and  on behalf of such Lender or other Secured Party, to enter into one or more intercreditor agreements from  time to time and agrees that it will be bound by and will take no actions contrary to the provisions thereof.    Section 10.22  Obligations Absolute. To the fullest extent permitted by applicable  Law, all obligations of the Loan Parties hereunder shall be absolute and unconditional irrespective of:    (a) any bankruptcy, insolvency, reorganization, arrangement, readjustment,  composition, liquidation or the like of any Loan Party;    (b) any lack of validity or enforceability of any Loan Document or any other  agreement or instrument relating thereto against any Loan Party;    (c) any change in the time, manner or place of payment of, or in any other term of,  all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from  any Loan Document or any other agreement or instrument relating thereto;    (d) any exchange, release or non-perfection of any other Collateral, or any release or  amendment or waiver of or consent to any departure from any guarantee, for all or any of the Obligations;    (e) any exercise or non-exercise, or any waiver of any right, remedy, power or  privilege under or in respect hereof or any Loan Document; or    (f) any other circumstances which might otherwise constitute a defense available to,  or a discharge of, the Loan Parties.    Section 10.23  No Advisory or Fiduciary Responsibility. In connection with all  aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or  other modification hereof or of any other Loan Document), each of the Borrower and each Parent  acknowledges and agrees, and acknowledges their Affiliates’ understanding, that: (i) (A) the arranging  and other services regarding this Agreement provided by the Administrative Agent and the Lead  -161-  #95982248v17   Arrangers are arm’s-length commercial transactions between the Borrower, each Parent and their  respective Affiliates, on the one hand, and the Administrative Agent and the Lead Arrangers, on the other  hand, (B) each of the Borrower and each Parent has consulted its own legal, accounting, regulatory and  tax advisors to the extent it has deemed appropriate, and (C) each of the Borrower and each Parent is  capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions  contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative Agent, each Lender  and each Lead Arranger each is and has been acting solely as a principal and, except as expressly agreed  in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or  fiduciary for the Borrower, any Parent or any of their respective Affiliates, or any other Person and (B)  neither the Administrative Agent, nor any Lender or Lead Arranger has any obligation to the Borrower,  any Parent or any of their respective Affiliates with respect to the transactions contemplated hereby  except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the  Administrative Agent, each Lender and each Lead Arranger and their respective Affiliates may be  engaged in a broad range of transactions that involve interests that differ from those of the Borrower, each  Parent and their respective Affiliates, and neither the Administrative Agent nor any Lead Arranger has  any obligation to disclose any of such interests to the Borrower, any Parent or any of their respective  Affiliates. To the fullest extent permitted by law, each of the Borrower and each Parent hereby waives  and releases any claims that it may have against the Administrative Agent, each Lender and each Lead  Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection with any  aspect of any transaction contemplated hereby.    Section 10.24  Electronic Execution of Assignments and Certain Other Documents.  The words “execution,” “execute”, “signed,” “signature,” and words of like import in or related to any  document to be signed in connection with this Agreement and the transactions contemplated hereby  (including without limitation Assignment and Assumptions, amendments or other Committed Loan  Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching  of assignment terms and contract formations on electronic platforms approved by the Administrative  Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect,  validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping  system, as the case may be, to the extent and as provided for in any applicable law, including the Federal  Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures  and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act;  provided that notwithstanding anything contained herein to the contrary the Administrative Agent is  under no obligation to agree to accept electronic signatures in any form or in any format unless expressly  agreed to by the Administrative Agent pursuant to procedures approved by it.    Section 10.25 Acknowledgement and Consent to Bail-In of Affected Financial  Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement,  arrangement or understanding among any such parties, each party hereto acknowledges that any liability  of any Lender that is an Affected Financial Institution arising under any Loan Document, to the extent  such liability is unsecured, may be subject to the write-down and conversion powers of the applicable  Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:    (a) the application of any Write-Down and Conversion Powers by the applicable  Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party  hereto that is an Affected Financial Institution; and    (b) the effects of any Bail-In Action on any such liability, including, if applicable:    (i) a reduction in full or in part or cancellation of any such liability;    -162-  





 






#95982248v17   (ii) a conversion of all or a portion of such liability into shares or other instruments  of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution  that may be issued to it or otherwise conferred on it, and that such shares or other instruments of  ownership will be accepted by it in lieu of any rights with respect to any such liability under this  Agreement or any other Loan Document; or    (iii) the variation of the terms of such liability in connection with the exercise of the  write-down and conversion powers of any the applicable Resolution Authority.    Section 10.26   Lender Representation. (a) Each Lender (x) represents and warrants,  as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person  became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit  of, the Administrative Agent, and each Lead Arranger and their respective Affiliates, and not, for the  avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the  following is and will be true:    (i) such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA  or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into,  participation in, administration of and performance of the Loan, the Term Commitments  or this Agreement,    (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class  exemption for certain transactions determined by independent qualified professional asset  managers), PTE 95-60 (a class exemption for certain transactions involving insurance  company general accounts), PTE 90-1 (a class exemption for certain transactions  involving insurance company pooled separate accounts), PTE 91-38 (a class exemption  for certain transactions involving bank collective investment funds) or PTE 96-23 (a class  exemption for certain transactions determined by in-house asset managers), is applicable  with respect to such Lender’s entrance into, participation in, administration of and  performance of the Loans, the Term Commitments and this Agreement,    (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset  Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional  Asset Manager made the investment decision on behalf of such Lender to enter into,  participate in, administer and perform the Loans, the Term Commitments and this  Agreement, (C) the entrance into, participation in, administration of and performance of  the Loans, the Term Commitments and this Agreement satisfies the requirements of  sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such  Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with  respect to such Lender’s entrance into, participation in, administration of and  performance of the Loans, the Term Commitments and this Agreement, or    (iv) such other representation, warranty and covenant as may be agreed in writing  between the Administrative Agent, in its sole discretion, and such Lender.    (b) In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with  respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in  accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x)  represents and warrants, as of the date such Person became a Lender party hereto, to, and (y)  covenants, from the date such Person became a Lender party hereto to the date such Person ceases  being a Lender party hereto, for the benefit of, the Administrative Agent and each Lead Arranger  -163-  #95982248v17   and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the  Borrower or any other Loan Party, that the Administrative Agent is not a fiduciary with respect to  the assets of such Lender involved in such Lender’s entrance into, participation in, administration  of and performance of the Loans, the Term Commitments and this Agreement (including in  connection with the reservation or exercise of any rights by the Administrative Agent under this  Agreement, any Loan Document or any documents related to hereto or thereto).    Section 10.27   Acknowledgement Regarding Any Supported QFCs. To the extent  that the Loan Documents provide support, through a guarantee or otherwise, for any Swap Contract or  any other agreement or instrument that is a QFC (such support, “QFC Credit Support”, and each such  QFC, a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution  power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II  of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations  promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and  QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and  any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of  the United States or any other state of the United States):    (a) In the event a Covered Entity that is party to a Supported QFC (each, a “Covered  Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such  Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under  such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported  QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the  transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such  QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws  of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of  a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights  under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit  Support that may be exercised against such Covered Party are permitted to be exercised to no greater  extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the  Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the  United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of  the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party  with respect to a Supported QFC or any QFC Credit Support.  (b) As used in this Section 10.27, the following terms have the following meanings:  “BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and  interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.    “Covered Entity” means any of the following: (i) a “covered entity” as that term is  defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as  that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered  FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).    “Default Right” has the meaning assigned to that term in, and shall be interpreted in  accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.    “QFC” has the meaning assigned to the term “qualified financial contract” in, and shall  be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).    -164-  





 






#95982248v17       [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]                                                                                                        -165-