Exhibit 10.1


 


EXECUTION VERSION


 





Published
CUSIP Number: L2000AAA8

Published Revolving Facility CUSIP Number: L2000AAB6

Published Term Loan Facility CUSIP Number: L2000AAC4


 


CREDIT AGREEMENT


 


among


 


CAMELOT UK HOLDCO LIMITED,

as Holdings,


 


CAMELOT UK BIDCO LIMITED,

as UK Holdco and a Revolving Borrower,


 


THE BORROWERS SET FORTH ON SCHEDULE 1.1G,

as the US Borrowers,


 


CAMELOT FINANCE S.A.,

as the Lux Borrower,


 


certain Restricted Subsidiaries from time
to time designated hereunder as Additional Revolving Borrowers,


 


certain Restricted Subsidiaries from time
to time party hereto as Subsidiary Guarantors,


 


the several Lenders and Issuing Lenders
from time to time parties hereto,


 


and


 


BANK OF AMERICA, N.A.,

as Administrative Agent


 


dated as of October 31, 2019


 





 


Bank of America, N.A., 


Citibank, N.A., and 


RBC Capital Markets, LLC 


as Joint Lead Arrangers and Joint Bookrunners


 


Barclays Bank PLC, 


Credit Suisse Loan Funding LLC, 


Goldman Sachs Bank USA, and 


JPMorgan Chase Bank, N.A. 


as Joint Bookrunners


 






     


     


    

 


TABLE OF CONTENTS


 


	 	Page
	 	 
	SECTION 1. DEFINITIONS	2
	 	 	 	 
	 	1.1	Defined Terms	2
	 	1.2	General Interpretive Provisions	87
	 	1.3	Accounting	88
	 	1.4	Limited Condition Transactions	89
	 	1.5	Currency Equivalents Generally	90
	 	1.6	Change in Currency	91
	 	1.7	Luxembourg Law Terms	91
	 	1.8	Foreign Guarantor Provisions	91
	 	1.9	Certain Calculations	92
	 	1.10	Delaware LLC Divisions	93
	 	1.11	Interest Rates	93
	 	 	 	 
	SECTION 2. AMOUNT AND TERMS OF COMMITMENTS	93
	 	 	 	 
	 	2.1	Term Commitments	93
	 	2.2	Procedure for Borrowing Term Loans	94
	 	2.3	Repayment of Term Loans	94
	 	2.4	Revolving Commitments	95
	 	2.5	Procedure for Borrowing of Revolving Loans	95
	 	2.6	Swingline Commitment	96
	 	2.7	Procedure for Swingline Borrowing; Refunding of Swingline Loans	96
	 	2.8	Commitment Fees, etc.	99
	 	2.9	Termination or Reduction of Revolving Commitments	99
	 	2.10	Optional Prepayments	100
	 	2.11	Mandatory Prepayments and Commitment Reductions	100
	 	2.12	Conversion and Continuation Options	103
	 	2.13	Limitations on Eurocurrency Tranches	105
	 	2.14	Interest Rates and Payment Dates	105
	 	2.15	Computation of Interest and Fees	105
	 	2.16	Inability to Determine Interest Rate; Illegality	106
	 	2.17	Pro Rata Treatment and Payments; Sharing of Payments by Lenders	109
	 	2.18	Requirements of Law	111
	 	2.19	Taxes	112
	 	2.20	[Reserved]	120
	 	2.21	Indemnity	120
	 	2.22	Change of Lending Office	120
	 	2.23	Replacement of Lenders	121
	 	2.24	Evidence of Debt; Notes	122
	 	2.25	Incremental Credit Extensions	122
	 	2.26	Refinancing Amendments	127
	 	2.27	Defaulting Lenders	129
	 	2.28	Loan Modification Offers	130
	 	2.29	Currency Equivalents	132
	 	2.30	Additional Alternative Currencies	132



 






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	SECTION 3. LETTERS OF CREDIT	133
	 	 	 	 
	 	3.1	L/C Commitment	133
	 	3.2	Procedure for Issuance of Letter of Credit	134
	 	3.3	Fees and Other Charges	136
	 	3.4	L/C Participations	136
	 	3.5	Reimbursement Obligation of the Revolving Borrowers	137
	 	3.6	Obligations Absolute	138
	 	3.7	Letter of Credit Payments	138
	 	3.8	Applications	138
	 	3.9	Letter of Credit Amounts	138
	 	3.10	Alternative Currency Letters of Credit	138
	 	 	 	 
	SECTION 4. REPRESENTATIONS AND WARRANTIES	139
	 	 	 	 
	 	4.1	Financial Condition	139
	 	4.2	No Change	139
	 	4.3	Existence; Compliance with Law	140
	 	4.4	Power; Authorization; Enforceable Obligations	140
	 	4.5	No Legal Bar	140
	 	4.6	Litigation	140
	 	4.7	Ownership of Property; Liens	141
	 	4.8	Intellectual Property	141
	 	4.9	Taxes	141
	 	4.10	Federal Regulations	141
	 	4.11	Employee Benefit Plans	141
	 	4.12	Investment Company Act	142
	 	4.13	Environmental Matters	142
	 	4.14	Accuracy of Information, etc.	142
	 	4.15	Security Documents	143
	 	4.16	Solvency	143
	 	4.17	Patriot Act; FCPA; OFAC; Sanctions	143
	 	4.18	Beneficial Ownership Certificate	144
	 	4.19	Use of Proceeds	144
	 	4.20	Governing Law and Enforcement	144
	 	4.21	Centre of Main Interests	144
	 	 	 	 
	SECTION 5. CONDITIONS PRECEDENT	144
	 	 	 	 
	 	5.1	Conditions to Closing Date	144
	 	5.2	Conditions to Each Borrowing Date	148
	 	 	 	 
	SECTION 6. AFFIRMATIVE COVENANTS	148
	 	 	 	 
	 	6.1	Financial Statements	148
	 	6.2	Certificates; Other Information	150
	 	6.3	Payment of Taxes	152
	 	6.4	Maintenance of Existence; Compliance with Law	152
	 	6.5	Maintenance of Property; Insurance	152
	 	6.6	Inspection of Property; Books and Records; Discussions	153
	 	6.7	Notices	153



 






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	 	6.8	Environmental Laws	153
	 	6.9	Additional Collateral, etc.	154
	 	6.10	Credit Ratings	155
	 	6.11	Further Assurances	155
	 	6.12	Designation of Unrestricted Subsidiaries	155
	 	6.13	Employee Benefit Plans	156
	 	6.14	Use of Proceeds	156
	 	6.15	Post-Closing Matters	156
	 	6.16	FCPA; OFAC; Sanctions	156
	 	6.17	Centre of Main Interests	156
	 	6.18	Transactions with Affiliates	156
	 	6.19	Lines of Business; Holding Company	159
	 	6.20	Lux Borrower	160
	 	 	 	 
	SECTION 7. NEGATIVE COVENANTS	161
	 	 	 	 
	 	7.1	First Lien Net Leverage Ratio	161
	 	7.2	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock	161
	 	7.3	Limitation on Restricted Payments	168
	 	7.4	Dividend and Other Payment Restrictions Affecting Subsidiaries	175
	 	7.5	Asset Sales	178
	 	7.6	[Reserved]	179
	 	7.7	Liens	179
	 	7.8	Fundamental Changes	179
	 	7.9	[Reserved]	180
	 	7.10	Changes in Fiscal Periods	180
	 	7.11	Negative Pledge Clauses	181
	 	 	 	 
	SECTION 8. GUARANTEE	181
	 	 	 	 
	 	8.1	The Guarantee	181
	 	8.2	Obligations Unconditional	182
	 	8.3	Reinstatement	183
	 	8.4	No Subrogation	183
	 	8.5	Remedies	183
	 	8.6	Instrument for the Payment of Money	183
	 	8.7	Continuing Guarantee	183
	 	8.8	General Limitation on Guarantor Obligations	184
	 	8.9	Release of Subsidiary Guarantors	184
	 	8.10	Right of Contribution	184
	 	8.11	Keepwell	184
	 	8.12	Limitations	185
	 	 	 	 
	SECTION 9. EVENTS OF DEFAULT	190
	 	 	 	 
	 	9.1	Events of Default	190
	 	9.2	[Reserved]	192
	 	9.3	Action in Event of Default	193
	 	9.4	Right to Cure	194
	 	9.5	Application of Proceeds	194
	 	9.6	Clean-Up Period	195



 






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	SECTION 10. ADMINISTRATIVE AGENT	196
	 	 	 	 
	 	10.1	Appointment and Authority	196
	 	10.2	Rights as a Lender	197
	 	10.3	Exculpatory Provisions	198
	 	10.4	Reliance by Administrative Agent	199
	 	10.5	Delegation of Duties	199
	 	10.6	Resignation and Removal of Administrative Agent	200
	 	10.7	Non-Reliance on Administrative Agent, the Joint Lead Arrangers and the Other Lenders	201
	 	10.8	No Other Duties, Etc.	202
	 	10.9	Administrative Agent May File Proofs of Claim; Credit Bidding	202
	 	10.10	Collateral and Guaranty Matters	204
	 	10.11	Intercreditor Agreements	206
	 	10.12	Withholding Tax Indemnity	206
	 	10.13	Indemnification	207
	 	10.14	Appointment of Incremental Arrangers, Refinancing Arrangers and Loan Modification Agents	207
	 	10.15	Certain ERISA Matters	208
	 	 	 	 
	SECTION 11. MISCELLANEOUS	209
	 	 	 	 
	 	11.1	Amendments and Waivers	209
	 	11.2	Notices	214
	 	11.3	No Waiver; Cumulative Remedies	215
	 	11.4	Survival of Representations and Warranties	215
	 	11.5	Payment of Expenses	216
	 	11.6	Successors and Assigns; Participations and Assignments	217
	 	11.7	[Reserved]	224
	 	11.8	Adjustments; Set-off	224
	 	11.9	[Reserved]	225
	 	11.10	Counterparts; Electronic Execution	225
	 	11.11	Severability	226
	 	11.12	Integration	226
	 	11.13	Governing Law	226
	 	11.14	Submission To Jurisdiction; Waivers	226
	 	11.15	Acknowledgements	227
	 	11.16	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	227
	 	11.17	Confidentiality	228
	 	11.18	Waivers Of Jury Trial	229
	 	11.19	USA Patriot Act Notification	229
	 	11.20	Maximum Amount	229
	 	11.21	Lender Action	230
	 	11.22	No Fiduciary Duty	230
	 	11.23	[Reserved]	230
	 	11.24	Conduct of Business by the Lenders	230
	 	11.25	Acknowledgment Regarding Any Supported QFCs	230



 






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	SECTION 12. CO-BORROWER ARRANGEMENTS AND BORROWER REPRESENTATIVE	231
	 	 	 	 
	 	12.1	Addition of Additional Revolving Borrowers	231
	 	12.2	Status of Borrowers	232
	 	12.3	Resignation of Additional Revolving Borrowers	233
	 	12.4	Appointment of Borrower Representative; Nature of Relationship	233
	 	12.5	Powers	233
	 	12.6	Employment of Agents	234
	 	12.7	Execution of Loan Documents	234





 


	SCHEDULES:
	 	 
	1.1A-1	Commitments
	1.1A-2	L/C Sublimit
	1.1B	Agreed Security Principles
	1.1C	Foreign Security Documents
	1.1D	Permitted Investments
	1.1E	Permitted Liens
	1.1F	Existing Swap Agreements
	1.1G	US Borrowers
	1.8	Foreign Guarantor Provisions
	3.1	Existing Letters of Credit
	4.9	Taxes
	5.1(g)	Local Counsel Opinions
	6.15	Post-Closing Undertakings
	7.2	Permitted Indebtedness
	11.2	Administrative Agent’s Office; Certain Addresses for Notices
	 	 
	EXHIBITS:
	 	 
	A-1	Form of US Pledge Agreement
	A-2	Form of US Security Agreement
	B	Form of Assignment and Assumption
	C	Form of Compliance Certificate
	C-1	Form of Exemption Certificate
	C-2	Form of Exemption Certificate
	C-3	Form of Exemption Certificate
	C-4	Form of Exemption Certificate
	D	[Reserved]
	E	Form of Prepayment Notice
	F-1	Form of Revolving Loan Note
	F-2	Form of Swingline Loan Note
	F-3	Form of Term Loan Note
	G	Form of Guarantor Joinder Agreement
	H	Form of Borrowing and Conversion/Continuation Request
	I	Form of Solvency Certificate
	J	[Reserved]
	K	[Reserved]
	L	Form of Swingline Borrowing Request
	M	Form of Borrower Joinder




 






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CREDIT AGREEMENT (this
 “Agreement”), dated as of October 31, 2019, among Camelot UK Holdco Limited, a private limited liability
company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot
UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10267893
(“UK Holdco”), the borrowers listed on Schedule 1.1G hereto (collectively, the “US Borrowers”),
Camelot Finance S.A., a public limited liability company (société anonyme) organized and established under
the laws of the Grand Duchy of Luxembourg (“Luxembourg”), having its registered office at 14, rue Edward Steichen,
L-2540 Luxembourg and registered with the Luxembourg Trade and Companies Register (the “Companies Register”)
under number B 208514 (the “Lux Borrower” and, together with the US Borrowers, each a “Term Borrower”
and, collectively, the “Term Borrowers”), certain Restricted Subsidiaries from time to time designated hereunder
as Additional Revolving Borrowers (together with the Lux Borrower, UK Holdco and Camelot U.S. Acquisition LLC, a limited liability
company organized and established under the laws of Delaware, each a “Revolving Borrower” and, collectively,
the “Revolving Borrowers” and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower”
and, collectively, the “Borrowers”), the Subsidiary Guarantors from time to time party hereto (including through
delivery of a Guarantor Joinder Agreement in accordance with the terms of this Agreement), the several banks, financial institutions,
institutional lenders and other entities from time to time party hereto as lenders (the “Lenders”), the Issuing
Lenders from time to time party hereto and Bank of America, N.A., as Administrative Agent.


 


W I T N E S S E T H:


 


WHEREAS, (i) certain
of the Borrowers are party to that certain Credit Agreement originally dated as of October 3, 2016 (as amended, supplemented
or otherwise modified, the “Existing Credit Agreement”) by and among, inter alios, Holdings, UK Holdco,
certain of the Borrowers, certain Restricted Subsidiaries party thereto as Subsidiary Guarantors, the Lenders and Issuing Lenders
party thereto and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and (ii) the Lux Borrower is party, as
issuer, to that certain Indenture dated as of October 3, 2016 (as amended, supplemented or otherwise modified, the “Existing
Senior Notes Indenture”) by and among, inter alios, the Lux Borrower, certain Restricted Subsidiaries party thereto
as Subsidiary Guarantors and Wilmington Trust, National Association, as trustee, pursuant to which the Lux Borrower has issued
those certain 7.875% Senior Notes due 2024 in an aggregate principal amount of $500,000,000 (the “Existing Senior Notes”);


 


WHEREAS, the Borrowers
intend to effect the Closing Date Refinancing of the Existing Credit Agreement and the Existing Senior Notes Indenture;


 


WHEREAS, the Lux Borrower
intends to issue $700,000,000 in aggregate principal amount of 4.50% senior secured notes of the Lux Borrower due 2026 (as substituted,
replaced, extended, renewed, restated or refinanced, including any replacement or refinancing facility or indenture or other financing
arrangement that increases or decreases the amount permitted to be borrowed or incurred thereunder or alters the maturity thereof
and whether by the same or any other agent, lender or group of lenders and whether for the same or any other purpose, and any amendments,
supplements, modifications, extensions, renewals, restatements, amendments and restatements or refundings thereof or any such indentures
or facilities or other financing arrangement that replace or refinance such credit facility (or any subsequent replacement thereof),
in each case to the extent permitted or not restricted by this Agreement, the “Senior Secured Notes”) pursuant
to that certain Indenture dated as of the Closing Date (as amended, supplemented, substituted, replaced, extended, renewed, restated
or refinanced or otherwise modified, the “Senior Secured Notes Indenture”) by and among, inter alios,
the Lux Borrower, as issuer, the Restricted Subsidiaries party thereto as subsidiary guarantors and Wilmington Trust, National
Association, as trustee;


 






    1


     


    

 


WHEREAS, for the purposes
described herein, the Lenders agreed to extend certain credit facilities consisting of (i) Term Loans made available to the
Term Borrowers in an aggregate principal amount of $900,000,000 and (ii) Revolving Commitments (which Revolving Commitments
include sub-facilities as set forth herein with respect to L/C Commitments and Swingline Commitments) made available to the Revolving
Borrowers in an aggregate principal amount of $250,000,000;


 


WHEREAS, the Borrowers
intend that a portion of the proceeds of the Facilities and/or the Senior Secured Notes shall be used to satisfy, or to make a
distribution or series of distributions to Camelot Holdings (Jersey) Limited (“Camelot Jersey”) or another applicable
parent entity of UK Holdco in order to enable Camelot Jersey or such parent entity to satisfy, the obligations of Camelot Jersey
pursuant to that certain Buyout Agreement dated as of August 21, 2019 by and among Camelot Jersey and Onex Partners IV LP,
including the making of the “Buyout Payment” as defined therein (the transactions described in this paragraph, the
 “TRA Payment”);


 


WHEREAS, each Borrower
agreed to guarantee the Obligations of each other Borrower (subject to certain limitations set forth in the Loan Documents and
the Agreed Security Principles);


 


WHEREAS, each Borrower
agreed to secure all of its respective Obligations by granting to the Collateral Agent, for the benefit of the Secured Parties,
a lien on substantially all of its assets (subject to certain limitations set forth in the Loan Documents and the Agreed Security
Principles); and


 


WHEREAS, Holdings and
each Subsidiary Guarantor agreed to guarantee the Obligations of each Borrower and to secure their respective Obligations by granting
to the Collateral Agent, for the benefit of the Secured Parties, a lien on substantially all of its assets (subject, in each case,
to certain limitations set forth in the Loan Documents and the Agreed Security Principles).


 


NOW, THEREFORE, the
parties hereto hereby agree as follows:


 


SECTION 1.

DEFINITIONS


 


1.1            Defined
Terms. As used in this Agreement (including the recitals hereof), the terms listed in this Section 1.1 shall have
the respective meanings set forth in this Section 1.1.


 


“ABR”:
for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1⁄2 of 1%, (b) the
Prime Rate, and (c) the Eurocurrency Rate for Loans denominated in Dollars with an Interest Period of one month plus 1.0%.
If ABR is being used as an alternate rate of interest pursuant to Section 2.16 hereof, then ABR shall be equal to the higher
of clauses (a) and (b) above and shall be determined without reference to clause (c) above.


 


“ABR Loans”:
Loans the rate of interest applicable to which is based upon the ABR. All ABR Loans shall be denominated in Dollars.


 


“Acceptable
Intercreditor Agreement”: (a) the Initial Intercreditor Agreement, (b) an intercreditor or subordination agreement
or arrangement the terms of which are consistent with market terms governing intercreditor arrangements for the sharing or subordination
of liens or arrangements relating to the distribution of payments, as applicable, at the time the applicable agreement or arrangement
is proposed to be established in light of the type of Indebtedness subject thereto (a “Market Intercreditor Agreement”)
and (c) in the case of the Initial Intercreditor Agreement or in the event a Market Intercreditor Agreement has been entered
into after the Closing Date, an intercreditor or subordination agreement or arrangement the terms of which are, taken as a whole,
not materially less favorable to the Lenders than the terms of the Initial Intercreditor Agreement or such Market Intercreditor
Agreement to the extent such agreement governs similar priorities, in each case of clause (b) or (c) as determined by
the Borrower Representative and the Administrative Agent in good faith and as reasonably acceptable to the Administrative Agent.


 






    2


     


    

 


“Acceptable
Price”: as defined in the definition of “Dutch Auction.”


 


“Accepting
Lenders”: as defined in Section 2.28(a).


 


“Acquired
Indebtedness”: with respect to any specified Person:


 


(a)            Indebtedness
of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary whether or
not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming
a Restricted Subsidiary; and


 


(b)            Indebtedness
secured by a Lien encumbering any asset acquired by such specified Person;


 


provided that any Indebtedness of
such Person that is extinguished, redeemed, defeased, retired or otherwise repaid at the time of or immediately upon consummation
of the transaction pursuant to which such other Person becomes a Subsidiary of the specified Person will not be Acquired Indebtedness.


 


“Additional
Lender”: at any time, any bank, financial institution or institutional lender or other entity that agrees to provide
any portion of any (a) Incremental Revolving Commitments, Additional/Replacement Revolving Commitments or Incremental Term
Loans pursuant to an Incremental Amendment in accordance with Section 2.25 or (b) Permitted Credit Agreement Refinancing
Debt pursuant to a Refinancing Amendment in accordance with Section 2.26; provided that (i) the Administrative
Agent, each Issuing Lender and the Swingline Lender shall have consented (not to be unreasonably withheld, conditioned or delayed)
to such Additional Lender if such consent would be required under Section 11.6(b) for an assignment of Loans or
Revolving Commitments, as applicable, to such Additional Lender, (ii) the Borrower Representative shall have consented to
such Additional Lender, (iii) if such Additional Lender is an Affiliated Lender, such Additional Lender must comply with the
limitations and restrictions set forth in Section 11.6(b)(iv) and (iv) such Additional Lender will become
a party to this Agreement.


 


“Additional/Replacement
Revolving Commitments”: as defined in Section 2.25(a).


 


“Additional
Revolving Borrowers”: Restricted Subsidiaries of UK Holdco from time to time designated by the Borrower Representative
to the Administrative Agent as “borrowers” with respect to the Revolving Borrowings in accordance with Section 12,
and “Additional Revolving Borrower” means any one of them.


 


“Administrative
Agent”: Bank of America, N.A., as the administrative agent for the Lenders under this Agreement and the other Loan Documents,
together with any of its successors in such capacity.


 


“Administrative
Agent’s Office”: with respect to any currency, the Administrative Agent’s address and, as appropriate, account
as set forth on Schedule 11.2 with respect to such currency, or such other address or account with respect to such currency
as the Administrative Agent may from time to time notify to the Borrower Representative and the Lenders.


 






    3


     


    

 


“Affiliate”:
with respect to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For purposes of this definition, “control” (including, with correlative
meanings, the terms “controlling”, “controlled by” and “under common control with”), as used
with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of
the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise.


 


“Affiliated
Lender”: the Sponsor, any Debt Fund Affiliate or any Non-Debt Fund Affiliate.


 


“Aggregate
Exposure”: with respect to any Lender at any time, an amount equal to (a) until the Closing Date, the aggregate
amount of such Lender’s Commitments at such time and (b) thereafter, the sum of (i) the aggregate then unpaid principal
amount of such Lender’s Term Loans and (ii) the amount of such Lender’s Revolving Commitment then in effect or,
if the Revolving Commitments have been terminated, the amount of such Lender’s Revolving Extensions of Credit then outstanding.


 


“Aggregate
Exposure Percentage”: with respect to any Lender at any time, the ratio (expressed as a percentage) of such Lender’s
Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time.


 


“Agreed Security
Principles”: the principles set forth in Section 6.9(c) and the “Agreed Security Principles”
set forth on Schedule 1.1B hereto.


 


“Agreement”:
as defined in the preamble hereto.


 


“Alternative
Currency”: (i) Euros, Yen, Swiss Francs, Australian Dollars and Sterling and (ii) subject to Section 2.30,
any other currency.


 


“Alternative
Currency Letter of Credit”: as defined in Section 3.1.


 


“Anti-Corruption
Laws”: Laws relating to anti-bribery or anti-corruption (governmental or commercial), including, without limitation,
Laws that prohibit the corrupt payment, offer, promise, receipt, request or authorization of the payment or transfer of anything
of value (including gifts or entertainment), directly or indirectly, including the U.S. Foreign Corrupt Practices Act of 1977,
as amended, the UK Bribery Act of 2010, any Law enacted in connection with, or arising under, the OECD Convention on Combating
Bribery of Foreign Public Officials in International Business Transactions, and any other Law of any foreign or domestic jurisdiction
of similar effect or that relates to bribery or corruption.


 


“Applicable
Discount”: as defined in the definition of “Dutch Auction.”


 


“Applicable
Jurisdiction”: (i) with respect to the Revolving Facility and/or the Term Facility, the United States, Luxembourg
and England and Wales, (ii) with respect to the Revolving Facility, Germany and Spain or (iii) any other jurisdiction
approved by the Revolving Lenders or the Term Lenders, as applicable, and the Administrative Agent, in each case, acting reasonably
and in good faith.


 


“Applicable
Margin”: with respect to:


 


(a)            any
Revolving Loan, (i) initially, 3.25% per annum in the case of Eurocurrency Loans and 2.25% per annum in the case of ABR Loans
and (ii) from and after the first Business Day immediately following the delivery to the Administrative Agent of a Compliance
Certificate (pursuant to Section 6.2(c)), commencing with the first full fiscal quarter of UK Holdco ending after the
Closing Date, wherein the First Lien Net Leverage Ratio is (A) greater than 4.50 to 1.00, 3.25% per annum in the case of Eurocurrency
Loans and 2.25% per annum in the case of ABR Loans, (B) less than or equal to 4.50 to 1.00 and greater than 4.00 to 1.00,
3.00% per annum in the case of Eurocurrency Loans and 2.00% per annum in the case of ABR Loans, and (C) less than or equal
to 4.00 to 1.00, 2.75% per annum in the case of Eurocurrency Loans and 1.75% per annum in the case of ABR Loans;


 






    4


     


    

 


(b)            any
Initial Term Loan, (i) initially 3.25% per annum in the case of Eurocurrency Loans and 2.25% per annum in the case of ABR
Loans and (ii) from and after the first Business Day immediately following the delivery to the Administrative Agent of a Compliance
Certificate (pursuant to Section 6.2(c)), commencing with the first full fiscal quarter of UK Holdco ending after the Closing
Date, wherein the Total Net Leverage Ratio is (A) greater than 4.50 to 1.00, 3.25% per annum in the case of Eurocurrency Loans
and 2.25% per annum in the case of ABR Loans and (B) less than or equal to 4.50 to 1.00, 3.00% per annum in the case of Eurocurrency
Loans and 2.00% per annum in the case of ABR Loans;


 


(c)            any
Incremental Term Loan, the Applicable Margin shall be as set forth in the Incremental Amendment relating to the Incremental Term
Commitment in respect of such Incremental Term Loan;


 


(d)            any
Other Term Loan or any Other Revolving Loan, the Applicable Margin shall be as set forth in the Refinancing Amendment relating
to such Loan; and


 


(e)            any
Extended Term Loan or any Extended Revolving Loan, the Applicable Margin shall be as set forth in the Loan Modification Agreement
relating to such Loan.


 


Any increase or decrease
in the Applicable Margin resulting from a change in the First Lien Net Leverage Ratio or Total Net Leverage Ratio shall become
effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.2(c);
provided that the pricing level as set forth above in clause (a)(ii)(A) and (b)(ii)(A), as applicable,
shall apply as of (x) the first Business Day after the date on which a Compliance Certificate was required to have been delivered
but was not delivered, and shall continue to so apply to and including the date on which such Compliance Certificate is so delivered
(and thereafter the pricing level otherwise determined in accordance with this definition shall apply) and (y) at the option
of the Required Lenders, the first Business Day after an Event of Default under Section 9.1(a) shall have occurred
and be continuing, and shall continue to so apply to but excluding the date on which such Event of Default is cured or waived (and
thereafter the pricing level otherwise determined in accordance with this definition shall apply).


 


In the event that any
financial statements delivered pursuant to Section 6.1 or a Compliance Certificate delivered pursuant to Section 6.2(c) are
shown to be inaccurate at any time that this Agreement is in effect and any Loans or Commitments are outstanding hereunder when
such inaccuracy is discovered and such inaccuracy, if corrected, would have led to a higher Applicable Margin for any period (an
 “Applicable Period”) than the Applicable Margin applied for such Applicable Period, then (i) the Borrower
Representative shall promptly (and in no event later than five (5) Business Days thereafter) deliver to the Administrative
Agent a correct Compliance Certificate for such Applicable Period, (ii) the Applicable Margin shall be determined by reference
to the corrected Compliance Certificate (but in no event shall the Lenders owe any amounts to the Borrowers) and (iii) the
Borrower Representative shall pay to the Administrative Agent promptly upon demand (and in no event later than five (5) Business
Days after demand) any additional interest owing as a result of such increased Applicable Margin for such Applicable Period, which
payment shall be promptly applied by the Administrative Agent in accordance with the terms hereof. Notwithstanding anything to
the contrary in this Agreement, any additional interest hereunder shall not be due and payable until demand is made for such payment
pursuant to clause (iii) above and accordingly, any nonpayment of such interest as result of any such inaccuracy shall not
constitute a Default (whether retroactively or otherwise), and no such amounts shall be deemed overdue (and no amounts shall accrue
interest pursuant to Section 2.14(c)), at any time prior to the date that is five (5) Business Days following
such demand.


 






    5


     


    

 


“Applicable
Requirements”: in respect of any Indebtedness, Indebtedness that satisfies the following requirements:


 


(a)            other
than Customary Bridge Financings and Indebtedness incurred pursuant to the Inside Maturity Basket, such Indebtedness does not mature
prior to the Term Loan Maturity Date and does not have a Weighted Average Life to Maturity shorter than the remaining Weighted
Average Life to Maturity of the Initial Term Loans determined at the time of incurrence;


 


(b)            if
such Indebtedness is secured by the Collateral, a Senior Representative acting on behalf of the holders of such Indebtedness has
become party to an Acceptable Intercreditor Agreement (or any Acceptable Intercreditor Agreement has been amended or replaced in
a manner reasonably acceptable to the Administrative Agent), which results in such Senior Representative having rights to share
in the Collateral on a pari passu or junior basis, as applicable;


 


(c)            [reserved];


 


(d)            [reserved];
and


 


(e)            the
other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, premiums, optional prepayment or optional
redemption provisions and financial covenants) are (i) taken as a whole, not materially less favorable to the Borrowers of
such Indebtedness than those set forth in the Loan Documents (when taken as a whole) as determined by the Borrower Representative
in good faith, (ii) customary for “high yield” notes of the type being incurred at the time of incurrence (it
being agreed that such Indebtedness may be in the form of notes or a credit agreement) as determined by the Borrower Representative
in good faith or (iii) then-current market terms (as determined by the Borrower Representative in good faith) for the applicable
type of Indebtedness except in each case for covenants or other provisions contained in such Indebtedness that are applicable only
after the Latest Maturity Date or added for the benefit of the existing Revolving Facility (in the case of revolving Indebtedness)
or Term Facility (in the case of term Indebtedness); provided that, in the case of clause (iii), if such Indebtedness
benefits from a financial covenant that is more restrictive than Section 7.1 of this Agreement, such financial covenant
shall be either (A) conformed (or added) to the Loan Documents for the benefit of the Revolving Lenders pursuant to an amendment
agreement between the Administrative Agent and the applicable Borrowers or (B) applicable only to periods after the Revolving
Termination Date or otherwise reasonably satisfactory to the Administrative Agent


 


provided, further, that an
Officer’s Certificate signed on behalf of the Borrower Representative delivered to the Administrative Agent at least five
Business Days (or a shorter period acceptable to the Administrative Agent) 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 Representative has determined in good faith that such terms and conditions satisfy
the requirements of this definition, shall be conclusive evidence that such terms and conditions satisfy the requirements of this
definition, unless the Administrative Agent notifies the Borrower Representative within such five Business Day period that it disagrees
with such determination (including a reasonable description of the basis upon which it disagrees).


 






    6


     


    

 


“Applicable
Security Jurisdiction”: with respect to any Loan Party organized under the laws of a Security Jurisdiction, each of (a) such
Security Jurisdiction and (b) solely with respect to Equity Interests owned by such Loan Party, each other Security Jurisdiction
in which any direct Subsidiary of such Loan Party that is a Loan Party is organized (it being understood that each Security Jurisdiction
and its political subdivisions shall constitute a single Security Jurisdiction for purposes hereof).


 


“Application”:
an application, in such form as the applicable Issuing Lender may specify from time to time, requesting such Issuing Lender to
issue a Letter of Credit.


 


“Approved
Commercial Bank”: a commercial bank with a consolidated combined capital surplus of at least $5,000,000,000.


 


“Approved
Electronic Communications”: as defined in Section 11.2.


 


“Approved
Fund”: as defined in Section 11.6(b)(ii).


 


“Asset Sale”:


 


(1)            the
sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions) of property
or assets (including by way of a Sale Leaseback Transaction) of UK Holdco or any Restricted Subsidiary (each referred to in this
definition as a “disposition”); or


 


(2)            the
issuance or sale of Equity Interests of any Restricted Subsidiary (other than (1) directors’ qualifying shares or shares
or interests required to be held by non-U.S. nationals or other third parties to the extent required by applicable law or (2) Preferred
Stock or Disqualified Stock of a Restricted Subsidiary issued in compliance with Section 7.2), other than by any Restricted
Subsidiary to UK Holdco or another Restricted Subsidiary (whether in a single transaction or a series of related transactions),
in each case other than:


 


(a)            a
sale, exchange, transfer or other disposition of cash, Cash Equivalents or Investment Grade Securities or uneconomical, obsolete,
damaged, unnecessary, surplus, unsuitable or worn out equipment or any sale or disposition of property or assets in connection
with scheduled turnarounds, maintenance and equipment and facility updates or any disposition of inventory or goods (or other assets)
held for sale or no longer used in the ordinary course of business;


 


(b)            the
sale, conveyance, transfer or other disposition of all or substantially all of the assets of UK Holdco (on a consolidated basis)
in a manner permitted pursuant to Section 7.8;


 


(c)            any
Permitted Investment or Restricted Payment that is permitted to be made, and is made, under Section 7.3;


 


(d)            dispositions
of assets, or sales or issuances of Equity Interests of any Restricted Subsidiary, with an aggregate Fair Market Value of (i) less
than the greater of $15,000,000 and 5% of Consolidated EBITDA as of the most recently ended Reference Period in any single transaction
or series of related transactions or (ii)  less than the greater of $50,000,000 and 16% of Consolidated EBITDA as of the most
recently ended Reference Period in the aggregate for all such other dispositions or issuances pursuant to this clause (ii) (and
not excluded pursuant to another clause of this definition) in any fiscal year, which amounts in the case of this clause (ii) if
not used in any fiscal year may be carried forward to the next succeeding fiscal year;


 






    7


     


    

 


(e)            (i) any
transfer or disposition of property or assets by a Restricted Subsidiary to UK Holdco or (ii) by UK Holdco or a Restricted
Subsidiary to a Restricted Subsidiary;


 


(f)            sales
of assets received by UK Holdco or any Restricted Subsidiary upon the foreclosure on a Lien;


 


(g)            any
issuance or sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;


 


(h)            the
unwinding of any Hedging Obligations;


 


(i)            the
sale, lease, assignment, license or sublease of inventory, equipment, accounts receivable, notes receivable or other current assets
held for sale in the ordinary course of business or the conversion of accounts receivable into a notes receivable;


 


(j)            the
lease, assignment or sublease of any real or personal property in the ordinary course of business and dispositions to landlords
of improvements made to leased real property pursuant to customary terms of leases entered into in the ordinary course of business;


 


(k)            a
sale of accounts receivable and related assets of the type specified in the definition of “Receivables Financing” to
a Receivables Subsidiary in a Qualified Receivables Financing or in factoring or similar transactions;


 


(l)            a
transfer of accounts receivable and related assets of the type specified in the definition of “Receivables Financing”
(or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Financing;


 


(m)            any
financing transaction with respect to property built or acquired by UK Holdco or any Restricted Subsidiary, including Sale Leaseback
Transactions permitted under this Agreement;


 


(n)            any
exchange of assets for assets (including a combination of assets and Cash Equivalents) related to a Similar Business of comparable
or greater market value or usefulness to the business of UK Holdco and the Restricted Subsidiaries, as a whole, as determined in
good faith by the Borrower Representative, which in the event of an exchange of assets with a Fair Market Value in excess of (i) the
greater of $20,000,000 and 7% of Consolidated EBITDA as of the most recently ended Reference Period shall be evidenced by an Officer’s
Certificate signed on behalf of the Borrower Representative and (ii) the greater of $30,000,000 and 10% of Consolidated EBITDA
as of the most recently ended Reference Period shall be set forth in a resolution approved in good faith by at least a majority
of the Board of Directors of the Borrower Representative (or any direct or indirect parent thereof);


 


(o)            the
grant in the ordinary course of business of any license or sub-license of patents, trademarks, know-how and any other intellectual
property;


 


(p)            any
sale or other disposition deemed to occur with creating, granting or perfecting a Lien not otherwise prohibited by this Agreement
or the Loan Documents;


 


(q)            the
surrender or waiver of contract rights or settlement, release or surrender of a contract, tort or other litigation claim in the
ordinary course of business;


 






    8


     


    

 


(r)            foreclosures,
condemnations or any similar action on assets;


 


(s)            the
sale (without recourse) of receivables (and related assets) pursuant to factoring arrangements entered into in the ordinary course
of business;


 


(t)            sales,
transfers and other dispositions of Investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell
arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements;


 


(u)            transfers
of property pursuant to a Recovery Event;


 


(v)            the
lapse, abandonment or other disposition of intellectual property rights in the ordinary course of business, which in the good faith
determination of the Borrower Representative are no longer commercially reasonable to maintain or are not material to the conduct
of the business of UK Holdco and the Restricted Subsidiaries taken as a whole; and


 


(w)            sales,
transfers and other dispositions of assets that do not constitute Collateral having a Fair Market Value of not more than, in any
fiscal year, the greater of $25,000,000 and 8% of Consolidated EBITDA as of the most recently ended Reference Period, which amounts
if not used in any fiscal year may be carried forward to subsequent fiscal years (until so applied);


 


provided that, in each case of paragraphs
(a) to (w) above, that if any asset subject to a disposal or transfer to any Loan Party is subject to a Lien created
by any Security Document at the time of such disposal or transfer to any Loan Party, it shall be disposed of or transferred on
the basis that it shall remain subject to, or otherwise become subject to equivalent, Liens under a Security Document immediately
following such disposal (subject to the Collateral and Guarantee Principles and the Agreed Security Principles).


 


“Assignee”:
as defined in Section 11.6(b)(i).


 


“Assignment
and Assumption”: an Assignment and Assumption, substantially in the form of Exhibit B.


 


“ASU”:
as defined in Section 1.3(b).


 


“Auction Purchase”:
a purchase of Loans or Commitments pursuant to a Dutch Auction (x) in the case of a Permitted Auction Purchaser, in accordance
with the provisions of Section 11.6(b)(iii) or (y) in the case of an Affiliated Lender, in accordance with
the provisions of Section 11.6(b)(iv).


 


“Auditors’
Determination”: as defined in Section 8.12(d).


 


“Australian
Dollars”: the lawful currency of Australia.


 


“Available
Revolving Commitment”: as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such
Lender’s Revolving Commitment then in effect over (b) the aggregate Outstanding Amount of such Lender’s
Revolving Extensions of Credit at such time.


 


“Bail-In Action”:
the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of
an EEA Financial Institution.


 


“Bail-In Legislation”:
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 for such EEA Member Country from time to time which is described in the EU
Bail-In Legislation Schedule.


 






    9


     


    

 


“Bank Levy”:
(a) the UK bank levy as set out in the United Kingdom Finance Act 2011, (b) the bank levy imposed by the French Government
under the “taxe bancaire de risque systémique” as set out in Article 235 ter ZE of the French tax
code (Code Général des Impôts), (c) the bank levy imposed by the German Government under the Bank
Restructuring Fund Regulation (Restrukturierungsfonds-Verordnung) which has been issued pursuant to the provisions of the
Bank Restructuring Fund Act (Restrukturierungsfondsgesetz), (d) the bank levy imposed by the French Government under
the “taxe pour le financement du fonds de soutien aux collectivités territoriales” as set out in Article 235
ter ZE bis of the French tax code (Code Général des Impôts) and (e) any other Tax of a similar
nature in any jurisdiction, which is imposed by reference to some or all of the assets, liabilities and/or equity of a financial
institution or other entity carrying out financial transactions and which is in force or has been publicly announced at the Closing
Date or (if applicable), in respect of any Lender, which becomes a party to this Agreement after the Closing Date, as at the date
that Lender becomes a party to this Agreement.


 


“Bankruptcy
Code”: Title 11 of the United States Code entitled “Bankruptcy”, as now and hereinafter in effect, or any
successor statute.


 


“Basel III”:
the Basel Committee on Banking Supervision’s (the “Committee”) revised rules relating to capital requirements
set out in “Basel III: A global regulatory framework for more resilient banks and banking systems”, “Guidance
for national authorities operating the countercyclical capital buffer” and “Basel III: International framework for
liquidity risk measurement, standards and monitoring” published by the Committee in December 2010, “Revisions
to the Basel II market risk framework” published by the Committee in February 2011, the rules for global systemically
important banks contained in “Global systemically important banks: assessment methodology and the additional loss absorbency
requirement – Rules text” published by the Committee in November 2011, as amended, supplemented or restated,
and any further guidance or standards published by the Committee in connection with these rules.


 


“Beneficially
Own”: as defined within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act; “Beneficial Ownership”
shall have a correlative meaning.


 


“Beneficial
Ownership Certification”: a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.


 


“Beneficial
Ownership Regulation”: 31 C.F.R § 1010.230.


 


“Benefit Plan”:
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 the 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”.


 


“Benefited
Lender”: as defined in Section 11.8(a).


 


“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.


 


“Board”:
the Board of Governors of the Federal Reserve System of the United States (or any successor).


 






    10


     


    

 



 


“Board of
Directors”: as to any Person, the board of directors or managers, sole member, managing member or other governing body,
as applicable, of such Person (or, if such Person is a partnership, the board of directors or other governing body of the general
partner of such Person) or any duly authorized committee thereof.


 


“Borrower”
or “Borrowers”: as defined in the preamble hereto.


 


“Borrower
DTTP Filing” means an HM Revenue & Customs’ Form DTTP2, duly completed and filed by the relevant
UK Borrower, which:


 


(a)            where
it relates to a UK Treaty Lender that is a Lender on the Closing Date, contains the scheme reference number and jurisdiction of
tax residence stated opposite that Lender's name in Schedule 1.1A-1, and is filed with HM Revenue & Customs within
30 days of the date on which that UK Borrower becomes a Borrower; or


 


(b)           where
it relates to a UK Treaty Lender that is not a party to this Agreement on the Closing Date, contains the scheme reference number
and jurisdiction of tax residence stated in respect of that Lender in the relevant Assignment and Assumption, Incremental
Amendment or Refinancing Amendment pursuant to which such Lender becomes a party hereto or as otherwise notified to the UK Borrower
in writing within 15 days of the relevant UK Treaty Lender becoming a party to this Agreement and:


 


(i)            where
the UK Borrower is a Borrower as at the relevant assignment date or the date on which the Incremental Revolving Loans described
in the relevant Incremental Amendment take effect or the date on which the relevant Refinancing Amendment take effect (as applicable)
is filed with HM Revenue & Customs within 30 days of that date; or


 


(ii)            where
the UK Borrower is not a Borrower as at the relevant assignment date or the date on which the Incremental Revolving Loans described
in the relevant Incremental Amendment take effect or the date on which the relevant Refinancing Amendment take effect (as applicable)
is filed with HM Revenue & Customs within 30 days of the date on which that UK Borrower becomes a Borrower.


 


“Borrower
Joinder”: a joinder agreement, in substantially the form of Exhibit M hereto or otherwise reasonably acceptable
to the Administrative Agent, pursuant to which an Additional Revolving Borrower agrees to become an obligor in respect of the Revolving
Facility under this Agreement.


 


“Borrower
Representative”: as defined in Section 12.4.


 


“Borrowing”
a Revolving Borrowing, a Swingline Borrowing or a Term Borrowing, as the context may require.


 


“Borrowing
Date”: any Business Day specified by any Borrower as a date on which such Borrower requests the relevant Lenders to make
Loans hereunder.


 


“Borrowing
Request”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit H.


 


“Business”:
as defined in Section 4.13(b).


 






    11


     


    

 


“Business
Day”: any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the
Laws of, or are in fact closed in, the state where the Administrative Agent’s Office with respect to Obligations denominated
in Dollars is located and:


 


(a) if such day
relates to any interest rate settings as to a Eurocurrency Loan denominated in Dollars, any fundings, disbursements, settlements
and payments in Dollars in respect of any such Eurocurrency Loan, or any other dealings in Dollars to be carried out pursuant to
this Agreement in respect of any such Eurocurrency Loan, means a London Banking Day;


 


(b) if such day
relates to any interest rate settings as to a Eurocurrency Loan denominated in Euro, any fundings, disbursements, settlements and
payments in Euro in respect of any such Eurocurrency Loan, or any other dealings in Euro to be carried out pursuant to this Agreement
in respect of any such Eurocurrency Loan, means a TARGET Day;


 


(c) if such day
relates to any interest rate settings as to a Eurocurrency Loan denominated in a currency other than Dollars or Euro, means any
such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or other applicable
offshore interbank market for such currency; and


 


(d) if such day
relates to any fundings, disbursements, settlements and payments in a currency other than Dollars or Euro in respect of a Eurocurrency
Loan denominated in a currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to
be carried out pursuant to this Agreement in respect of any such Eurocurrency Loan (other than any interest rate settings), means
any such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency.


 


“Camelot Jersey”:
as defined in the preamble hereto.


 


“Cancellation”
or “Cancelled”: the cancellation, termination and forgiveness by a Permitted Auction Purchaser of all Loans,
Commitments and related Obligations acquired in connection with an Auction Purchase or other acquisition of Term Loans, which cancellation
shall be consummated as described in Section 11.6(b)(iii)(C) and the definition of “Eligible Assignee.”


 


“Capital Expenditures”:
for any period, with respect to any Person, the aggregate of all expenditures by such Person or any Restricted Subsidiary thereof
during such period for the acquisition or leasing (pursuant to a capital lease) of fixed or capital assets or additions to equipment
(including replacements, capitalized repairs and improvements during such period) that, in conformity with GAAP, are required to
be included as capital expenditures in the consolidated statement of cash flows of UK Holdco and the Restricted Subsidiaries.


 


“Capital Stock”:
(1) in the case of a corporation or a company, corporate stock or share capital; (2) in the case of an association or
business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;
(3) in the case of an exempted company, shares; (4) in the case of a partnership or limited liability company, partnership
or membership interests (whether general or limited); and (5) any other interest or participation that confers on a Person
the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person.


 


“Capitalized
Lease Obligations”: at the time any determination thereof is to be made, the amount of the liability in respect of a
capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding
the footnotes thereto) in accordance with GAAP.


 






    12


     


    

 


“Captive Insurance
Subsidiary”: any direct or indirect Subsidiary of UK Holdco that bears financial risk or exposure relating to insurance
or reinsurance activities and any segregated accounts associated with any such Person.


 


“Cash Collateral”:
as defined in the definition of “Collateralize.”


 


“Cash Collateral
Account” means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America,
N.A. or another commercial bank in the name of the Administrative Agent and under the sole dominion and control of the Administrative
Agent, and otherwise established in a manner satisfactory to the Administrative Agent.


 


“Cash Collateralize”:
as defined in Section 3.2(b).


 


“Cash Contribution
Amount”: the aggregate amount of cash contributions made to the capital of UK Holdco or any Restricted Subsidiary described
in the definition of “Contribution Indebtedness.”


 


“Cash Equivalents”:


 


(1)           Dollars,
Alternative Currencies and other local currencies held by UK Holdco and the Restricted Subsidiaries from time to time in the ordinary
course of business in connection with any business conducted by such Person in such jurisdiction;


 


(2)           securities
issued or directly and fully guaranteed or insured by the government of the United States, Canada, any country that is a member
of the European Union, Switzerland or the United Kingdom or any agency or instrumentality thereof in each case with maturities
not exceeding two years 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, and bankers’
acceptances, in each case with maturities not exceeding one year from the date of acquisition, and overnight bank deposits, in
each case with any commercial bank having capital and surplus in excess of $250,000,000, in the case of U.S. banks, and $100,000,000
(or the foreign currency equivalent thereof), in the case of non-U.S. banks, and whose long-term debt is rated with an Investment
Grade Rating by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency);


 


(4)            repurchase
obligations for underlying securities of the types described in clauses (2) and (3) above entered into with any financial
institution meeting the qualifications specified in clause (3) above;


 


(5)            commercial
paper issued by a corporation (other than an Affiliate of Holdings) rated at least “P-1/A-1” or the equivalent thereof
by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each
case maturing within one year after the date of acquisition;


 


(6)            readily
marketable direct obligations issued by any state or commonwealth of the United States of America, Canada, any country that is
a member of the European Union, the United Kingdom or Switzerland or any political subdivision of the foregoing having one of the
two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally
recognized ratings agency) in each case with maturities not exceeding two years from the date of acquisition;


 






    13


     


    

 


(7)            Indebtedness
or Preferred Stock issued by Persons (other than the Sponsors or any of their respective Affiliates) with a rating of “A”
or higher from S&P or “A-2” or higher from Moody’s in each case with maturities not exceeding two years from
the date of acquisition;


 


(8)            investment
funds investing at least 95% of their assets in securities of the types described in clauses (1) through (7) above; and


 


(9)            instruments
equivalent to those referred to in clauses (1) through (7) above denominated in Alternative Currencies or any other currency
comparable in credit quality and tenor to those referred to above and customarily used by corporations for cash management purposes
in any jurisdiction outside the United States to the extent reasonably required in connection with (a) any business conducted
by any Restricted Subsidiary organized in such jurisdiction or (b) any Investment in the jurisdiction where such Investment
is made.


 


“Cash Management
Agreement”: any agreement to provide Cash Management Services.


 


“Cash Management
Obligations”: all obligations, including guarantees thereof, of any Group Member to a Cash Management Provider in respect
of Cash Management Services.


 


“Cash Management
Provider”: any Person that (a) as of the Closing Date or as of the date it enters into any Cash Management Agreement,
is the Administrative Agent, a Joint Lead Arranger, a Lender or an Affiliate of the foregoing, in its capacity as a counterparty
to such Cash Management Agreement or (b) as of the date it enters into any Cash Management Agreement is designated in writing
by the Borrower Representative with the consent of the Administrative Agent (not to be unreasonably withheld, conditioned or delayed)
with respect to specified Cash Management Services and that has appointed the Collateral Agent as its collateral agent in a manner
reasonably acceptable to the Collateral Agent; provided that none of the Administrative Agent, a Joint Lead Arranger, a
Lender or an Affiliate of the foregoing described in the preceding clause (a) shall cease to be Cash Management Provider by
reason of ceasing to be the Administrative Agent, a Joint Lead Arranger, a Lender or an Affiliate of the foregoing, as applicable.


 


“Cash Management
Services”: any cash management facilities or services, including (i) treasury, netting, cash pooling, automated
payment, depositary and overdraft services and automated clearinghouse transfer of funds and (ii) purchase cards, credit or
debit cards, electronic funds transfer, automated clearinghouse arrangements or similar services.


 


“CFC”:
any “controlled foreign corporation” within the meaning of Section 957 of the Code that is a direct or indirect
Subsidiary of a US Subsidiary that is a “United States person” within the meaning of Section 957(c) of the
Code.


 


“Change in
Law”: 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 U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act and the European Capital Requirements
Directive IV and in each case 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 regulatory authorities, in each case pursuant
to Basel III and/or CRD IV, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted
or issued.


 






    14


     


    

 


“Change of
Control”: at any time, (a) the sale, lease or transfer, in one or a series of related transactions, of all or substantially
all the assets of UK Holdco and its Restricted Subsidiaries, taken as a whole, to a Person other than any of the Permitted Holders,
(b) the Borrower Representative becomes aware (by way of a report or any other filing pursuant to Section 13(d) of
the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of acquiring,
holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than any of
the Permitted Holders, in a single transaction or in a related series of transactions, by way of merger, consolidation or other
business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any
successor provision), of more than 50% of the total voting power of the Voting Stock of UK Holdco, or any direct or indirect parent
of UK Holdco that holds directly or indirectly an amount of Voting Stock of UK Holdco such that UK Holdco is a Subsidiary of such
holding company, (c) Holdings shall fail to Beneficially Own, directly or indirectly, Capital Stock of UK Holdco representing
100% of the total voting power represented by the issued and outstanding Capital Stock of UK Holdco, (d) UK Holdco shall fail
to Beneficially Own, directly or indirectly, Capital Stock of the Lux Borrower representing 100% of the total voting power represented
by the issued and outstanding Capital Stock of the Lux Borrower, (e) UK Holdco shall fail to Beneficially Own, directly or
indirectly, Capital Stock of any US Borrower representing 100% of the total voting power represented by the issued and outstanding
Capital Stock of such US Borrower; provided that any Disposition of a Borrower (including, for the avoidance of doubt, pursuant
to Section 7.8) that is not prohibited under the terms of this Agreement shall not constitute a “Change of Control”
or (f) a “change of control” or similar event shall occur under the Senior Secured Notes or other Indebtedness
of any Group Member the outstanding principal amount of which exceeds $125,000,000 in the aggregate.


 


“Class”:
(a) with respect to Commitments or Loans, those of such Commitments or Loans that have the same terms and conditions and (b) with
respect to Lenders, those of such Lenders that have Commitments or Loans of a particular Class.


 


“Clean-Up
Period”: with respect to any Permitted Acquisition or any other Permitted Clean-Up Investment, the period from the date
of the consummation of such Permitted Acquisition or Permitted Clean-Up Investment until the date that is 90 days after such closing
date.


 


“Closing Date”:
October 31, 2019.


 


“Closing Date
Refinancing”: as defined in Section 5.1(c).


 


“Code”:
the Internal Revenue Code of 1986, as amended from time to time (except as indicated otherwise with respect to the definition of
FATCA).


 


“Collateral”:
all of the assets and property of the Loan Parties and any other Person, now owned or hereafter acquired, whether real, personal
or mixed, upon which a Lien is purported to be created by any Security Document; provided, however, that the Collateral
shall not include any Excluded Assets.


 


“Collateral
Agent”: Bank of America, N.A., as the sole and exclusive collateral agent for the Secured Parties under this Agreement
and the other Loan Documents, together with any of its successors in such capacity.


 






    15


     


    

 


“Collateral
and Guarantee Principles”: as defined in Section 6.9(c).


 


“Collateralize”:
to (i) pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Issuing Lenders and the Lenders,
as collateral for the L/C Obligations, cash or deposit account balances (“Cash Collateral”) pursuant to documentation
in form and substance reasonably satisfactory to the Administrative Agent or (ii) issue back to back letters of credit for
the benefit of the Issuing Lenders in a form and substance reasonably satisfactory to the Administrative Agent, in each case, in
an amount not less than 100% of the outstanding L/C Obligations.


 


“Commitment”:
as to any Lender, the sum of the Term Commitment and the Revolving Commitment of such Lender.


 


“Commitment
Fee”: as defined in Section 2.8(a).


 


“Commitment
Fee Rate”: initially, 0.50% per annum, and from and after the first Business Day immediately following the delivery to
the Administrative Agent of a Compliance Certificate (pursuant to Section 6.2(c)), commencing with the Compliance Certificate
delivered in respect of the first full fiscal quarter of UK Holdco ending after the Closing Date, wherein the First Lien Net Leverage
Ratio is (x) greater than 4.50 to 1.00, 0.50% per annum and (y) less than or equal to 4.50 to 1.00, 0.375% per annum.


 


“Commodity
Exchange Act”: the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor
statute.


 


“Commonly
Controlled Entity”: an entity, whether or not incorporated, that is under common control with Holdings or any Borrower
within the meaning of Section 4001 of ERISA or is part of a group that includes Holdings or any Borrower and that is treated
as a single employer under Section 414 of the Code.


 


“Compliance
Certificate”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit C
or as otherwise reasonably agreed by the Administrative Agent.


 


“Consolidated
Cash Interest Expense”: with respect to UK Holdco and its Restricted Subsidiaries for any period, (a) consolidated
cash interest expense of UK Holdco and its Restricted Subsidiaries for such period, (i) including the cash interest component
of Capitalized Lease Obligations (regardless of whether accounted for as interest expense under GAAP) and (ii) excluding (A) amortization,
accretion or accrual of deferred financing fees, original issue discount, debt issuance costs, discounted liabilities, commissions,
fees and expenses, (B) any expense arising from any bridge, commitment, structuring and/or other financing fee (including
fees and expenses associated with the Transactions and agency and trustee fees), (C) any expense resulting from the discounting
of any Indebtedness in connection with the application of recapitalization or purchase accounting in connection with the Transactions
or any acquisition, (D) fees and expenses associated with any Asset Sales, acquisitions, Investments, issuances of Capital
Stock or Indebtedness (in each case, whether or not consummated), (E) costs associated with obtaining, or breakage costs in
respect of, any Hedge Agreement or any other derivative instrument other than any interest rate Hedge Agreement or interest rate
derivative instrument with respect to Indebtedness, (F) any “additional interest” or “penalty interest”
with respect to any securities, taxes or failure to timely comply with registration rights obligations, (G) interest expense
with respect to Indebtedness of any Parent Holding Company of UK Holdco appearing on the balance sheet of UK Holdco solely by reason
of push-down accounting under GAAP, (H) any payments with respect to make-whole, prepayment or repayment premiums or other
breakage costs of any Indebtedness, (I) any interest expense attributable to the exercise of appraisal rights or other rights
of dissenting shareholders and the settlement of any claims or actions (whether actual, contingent or potential) with respect thereto
in connection with any acquisition or Investment permitted hereunder, (J) any lease, rental or other expense in connection
with a lease obligation that is not a Capitalized Lease Obligation and (K) any non-cash interest expense attributable to any
movement in the mark to market valuation of Hedging Obligations or any other derivative instruments and/or any payment obligation
in respect of any Hedging Obligation or other derivative instrument other than any interest rate Hedging Obligation or interest
rate derivative instrument with respect to Indebtedness minus (b) cash interest income for such period.


 






    16


     


    

 


For purposes of this
definition, interest expense shall be calculated after giving effect to net payments and receipts (if any) pursuant to interest
rate Hedging Obligations with respect to Indebtedness.


 


“Consolidated
Current Assets”: at any date, 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 UK
Holdco and its Restricted Subsidiaries at such date.


 


“Consolidated
Current Liabilities”: at any date, 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 UK Holdco and its Restricted Subsidiaries
at such date, but excluding (a) the current portion of any Funded Debt of UK Holdco and its Restricted Subsidiaries and (b) without
duplication of clause (a) above, all Indebtedness consisting of Loans to the extent otherwise included therein.


 


“Consolidated
EBITDA”: with respect to UK Holdco and its Restricted Subsidiaries for any period, the Consolidated Net Income of UK
Holdco and its Restricted Subsidiaries for such period:


 


(1)            increased
(without duplication) by:


 


(a)            provision
for Taxes based on income or profits or capital, including, without limitation, state, franchise and similar Taxes and foreign
withholding Taxes of such Person paid or accrued during such period deducted (and not added back) in computing Consolidated Net
Income and payroll taxes related to stock compensation costs, including (i) an amount equal to the amount of Tax distributions
actually made to the holders of Capital Stock of such Person or any direct or indirect parent of such Person in respect of such
period in accordance with Section 7.3(b)(xii) which shall be included as though such amounts had been paid as
income Taxes directly by such Person and (ii) penalties and interest related to such taxes or arising from any tax examinations;
plus


 


(b)            consolidated
Fixed Charges of UK Holdco and its Restricted Subsidiaries for such period (including (x) bank fees and (y) costs of
surety bonds in connection with financing activities, in each case, to the extent included in Fixed Charges), together with items
excluded from the definition of “Consolidated Interest Expense” pursuant to clauses (1)(q) through (1)(z) thereof,
in each case, to the extent the same was deducted (and not added back) in calculating such Consolidated Net Income; plus


 


(c)            Consolidated
Non-Cash Charges of UK Holdco and its Restricted Subsidiaries for such period to the extent such non-cash charges were deducted
(and not added back) in computing Consolidated Net Income; plus


 


(d)            [reserved];
plus


 


(e)            [reserved];
plus


 


(f)            any
other non-cash charges, including any write offs or write downs, reducing Consolidated Net Income for such period (provided
that if any such non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment
in respect thereof in such future period shall be subtracted from Consolidated EBITDA to such extent, and excluding amortization
of a prepaid cash item that was paid in a prior period); plus


 






    17


     


    

 


(g)            the
amount of any minority interest expense consisting of Subsidiary income attributable to minority equity interests of third parties
in any non-Wholly Owned Subsidiary of UK Holdco deducted (and not added back) in such period in calculating Consolidated Net Income;
plus


 


(h)            the
amount of management, monitoring, consulting, transaction and advisory fees (including termination fees) and related expenses and
indemnities paid or accrued in such period to the Sponsors pursuant to the Management Agreement to the extent deducted (and not
added back) in computing Consolidated Net Income; plus


 


(i)            pro
forma adjustments, including the “run rate” cost savings, operating expense reductions, operational improvements, restructuring
charges and expenses and synergies (“Expected Cost Savings”) that are expected (in good faith) to be realized
as a result of actions taken or with respect to which substantial steps are expected to be taken within 24 months after the date
of any acquisition, disposition, divestiture, restructuring or other transaction or the implementation of a cost savings or other
similar initiative (any such event or initiative, a “Cost Saving Initiative”), as applicable (calculated on
a Pro Forma Basis as though such Expected Cost Savings had been realized on the first day of such period and as if such Expected
Cost Savings were realized during the entirety of such period), net of the amount of actual benefits realized during such period
from such actions; provided that (A) such actions or substantial steps with respect thereto are expected in the good
faith determination of the Borrower Representative to be taken within 24 months after the consummation or implementation of the
applicable Cost Saving Initiative, which is expected to result in Expected Cost Savings and (B) no Expected Cost Savings shall
be added pursuant to this defined term to the extent duplicative of any expenses or charges otherwise added to Consolidated EBITDA,
whether through a pro forma adjustment or otherwise, for such period (which adjustments may be incremental to, but without duplication
for, pro forma adjustments made pursuant to the definition of “Pro Forma Basis”); plus


 


(j)            [reserved];
plus


 


(k)            the
amount of loss or discount on sale of receivables and related assets to the Receivables Subsidiary or otherwise in connection with
a Receivables Financing, to the extent deducted (and not added back) in computing Consolidated Net Income; plus


 


(l)            (i) any
costs or expenses incurred by UK Holdco or any of its Restricted Subsidiaries pursuant to any management equity plan or stock option
plan or any other management or employee benefit plan, trust, scheme or agreement or any stock subscription or shareholder agreement,
any pension plan (including any post-employment benefit scheme which has been agreed with the relevant pension trustee), including
any deferred compensation arrangement, or any accelerated vesting of awards and (ii) payments made to optionholders in connection
with, or as a result of, any distribution being made to equityholders, which payments are being made to compensate such optionholders
as though they were equityholders at the time of, and entitled to share in, such distribution, in each case to the extent permitted
hereunder; plus


 


(m)           for
purposes of determining compliance with the maximum First Lien Net Leverage Ratio required under Section 7.1, the Cure
Amount, if any, received by UK Holdco for such period and permitted to be included in Consolidated EBITDA pursuant to Section 9.4;
plus


 


(n)           the
Tax effect of any items excluded from the calculation of Consolidated Net Income pursuant to clauses (1), (3), (4) and (8) of
the definition thereof; plus


 






    18


     


    

 


(o)           to
the extent not already otherwise included herein, adjustments and add-backs made in calculating “Standalone Adjusted EBITDA”
for the twelve months ended June 30, 2019 as set forth in the Offering Memorandum in respect of the Senior Secured Notes;
plus


 


(p)           earn-out,
non-compete and contingent consideration obligations (including to the extent accounted for as bonuses, compensation or otherwise)
and adjustments thereof and purchase price adjustments incurred in connection with any permitted acquisition or other Investment
permitted hereunder and paid or accrued during such period; plus


 


(q)           [reserved];
plus


 


(r)            “run
rate” pro forma adjustments, from the first day of the applicable period, for the aggregate amount of Consolidated EBITDA
projected by the Borrower Representative in good faith to result from binding contracts entered into; provided that the
aggregate amount of addbacks made pursuant to this clause (r) in any period shall not exceed an amount equal to 10%
of Consolidated EBITDA for such period (after giving effect to such addbacks) as of any date of determination; plus


 


(s)           any
other adjustments, exclusions and add-backs that are consistent with Regulation S-X of the Securities Act of 1933, as amended;


 


(2)           decreased
by (without duplication) non-cash gains increasing Consolidated Net Income of UK Holdco and its Restricted Subsidiaries for such
period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item
that reduced Consolidated EBITDA in any prior period; and


 


(3)           increased
(by losses) or decreased (by gains) by (without duplication) the application of FASB Interpretation No. 45 (Guarantees) and/or
Accounting Standards Codification Topic 810.


 


Notwithstanding the
foregoing, Consolidated EBITDA (a) for the fiscal quarter ended September 30, 2018, shall be deemed to be $79,347,000,
(b) for the fiscal quarter ended December 31, 2018, shall be deemed to be $82,351,000, (c) for the fiscal quarter
ended March 31, 2019, shall be deemed to be $67,650,000 and (d) for the fiscal quarter ended June 30, 2019, shall
be deemed to be $86,620,000, as may be subject to add-backs and adjustments (without duplication) pursuant to clauses (1)(i) and
(r) above and the definition of “Pro Forma Basis” for the applicable period.


 


“Consolidated
First Lien Indebtedness”: as of any date of determination, the aggregate principal amount of Consolidated Total Indebtedness
that is secured by a Lien on any asset of UK Holdco or any of its Restricted Subsidiaries that constitutes Collateral ranking pari
passu with the Liens securing the Obligations; provided that “Consolidated First Lien Indebtedness” shall
be calculated, without duplication, after netting the Netted Amounts from the amount of Consolidated Total Indebtedness so secured.


 


“Consolidated
Interest Expense”: with respect to any Person for any period, the sum, without duplication, of


 






    19


     


    

 


(1)            consolidated
interest expense of such Person and its Restricted Subsidiaries 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 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 (but excluding any non-cash interest expense attributable
to the movement in the mark to market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP and any
payment obligation in respect of any Hedging Obligation or other derivative instrument other than any interest rate Hedging Obligation
or interest rate derivative instrument with respect to Indebtedness), (d) the interest component of Capitalized Lease Obligations
and (e) net payments and receipts (if any) pursuant to interest rate Hedging Obligations with respect to Indebtedness, and
excluding (q) any interest expense attributable to the exercise of appraisal rights or other rights of dissenting shareholders
and the settlement of any claims or actions (whether actual, contingent or potential) with respect thereto in connection with any
acquisition or Investment permitted hereunder, (r) interest expense with respect to Indebtedness of any Parent Holding Company
appearing on the balance sheet solely by reason of push-down accounting under GAAP, (s) fees and expenses associated with
any Asset Sales, acquisitions, Investments, issuances of Capital Stock or Indebtedness (in each case, whether or not consummated),
(t) any expense resulting from the discounting of any Indebtedness in connection with the application of recapitalization
or purchase accounting in connection with the Transactions or any acquisition, (u) any “additional interest” or
 “penalty interest” with respect to any securities, taxes or failure to comply with registration rights obligations,
(v) any accretion or accrued interest of discounted liabilities, (w) amortization of deferred financing fees, debt issuance
costs, commissions, discounts, fees and expenses, (x) any expensing of bridge, commitment and other financing fees, cost of
surety bonds, charges owed with respect to letters of credit, bankers’ acceptances or similar facilities, (y) commissions,
discounts, yield and other fees and charges (including any interest expense) related to any Receivables Financing and (z) any
payments with respect to make-whole, prepayment or repayment premiums or other breakage costs of any Indebtedness); plus


 


(2)            consolidated
capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued; less


 


(3)            interest
income for such period;


 


provided that, for purposes of calculating
Consolidated Interest Expense, no effect shall be given to the discount and/or premium resulting from the bifurcation of derivatives
under FASB ASC 815 and related interpretations as a result of the terms of the Indebtedness to which such Consolidated Interest
Expense relates.


 


Notwithstanding the
foregoing, any additional changes arising from (i) the application of Accounting Standards Codification Topic 480-10-25-4
 “Distinguishing Liabilities from Equity—Overall—Recognition” to any series of Preferred Stock other than
Disqualified Stock or (ii) the application of Accounting Standards Codification Topic 470-20 “Debt—Debt with Conversion
Options—Recognition,” in each case, shall be disregarded in the calculation of Fixed Charges.


 


“Consolidated
Net Income”: with respect to UK Holdco and its Restricted Subsidiaries for any period, the aggregate of the Net Income
of UK Holdco and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with
GAAP; provided, however, that, without duplication:


 


(1)            any
after-Tax effect of (i) extraordinary, one-time, infrequent, non-recurring, non-operating or unusual gains, losses, income
or expenses (including all fees and expenses relating thereto) (including costs and expenses relating to the Transactions), in
each case as determined by the Borrower Representative in good faith and (ii) restructuring charges (including tax restructuring
charges), charges attributable to operating expense reductions and/or synergies and/or similar initiatives and/or programs, accruals
or reserves and business optimization expense, including any such costs incurred in connection with acquisitions after the Closing
Date (including entry into new market/channels and new service or product offerings) and costs related to the closure, reconfiguration
and/or consolidation of facilities and costs to relocate employees, facilities opening costs, integration, transition and transaction
costs, retention charges, severance, relocation costs, contract termination costs, recruiting and signing, retention or completion
bonuses and expenses, one time compensation charges, future lease commitments, systems establishment costs, conversion costs and
excess pension charges, consulting fees, expenses attributable to the implementation of costs savings initiatives, cost rationalization
programs and other new initiatives, costs associated with tax projects/audits, payments and curtailments or modifications to pension
and post-retirement employee benefit plans, costs relating to rights fee arrangements and early terminations thereof, costs relating
to strategic initiatives, costs attributable to new contracts or projects, costs of software, new systems, intellectual property,
information technology or accounting developments or improvements, costs relating to project startups or new operations and corporate
development costs and costs consisting of professional consulting or other fees relating to any of the foregoing, in each case
shall be excluded,


 






    20


     


    

 


(2)            the
cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies
during such period, whether effected through a cumulative effect adjustment or a retroactive application in each case in accordance
with GAAP, shall be excluded (except that, if the Borrower Representative determines in good faith that the cumulative effects
thereof are not material to the interests of the Lenders, the effects of any change in any such principles or policies may be included
in any subsequent period after the fiscal quarter in which such change, adoption or modification was made),


 


(3)            any
net after-Tax effect of income or loss from disposed, abandoned or discontinued assets, properties or operations and any net after-Tax
gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued assets, properties or operations shall
be excluded, in each case excluding, at the option of the Borrower Representative, assets, properties and operations pending disposal,
abandonment, transfer, closure or discontinuation, as applicable, in each case so long as such assets, properties or operations
are classified as discontinued under GAAP,


 


(4)            any
net after-Tax effect of gains or losses (including all fees and expenses relating thereto) attributable to business dispositions
or asset dispositions or the sale or other disposition of any Capital Stock of any Person, or of returned or surplus assets, other
than in the ordinary course of business, as determined in good faith by the Borrower Representative, shall be excluded,


 


(5)           the
Net Income for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary, or that is accounted for by
the equity method of accounting (other than a Borrower or a Guarantor), shall be excluded; provided that the Consolidated
Net Income of UK Holdco shall be increased by the amount of dividends or distributions or other payments that are actually paid
in cash or Cash Equivalents (or to the extent converted into cash or Cash Equivalents) to the referent Person or a Restricted Subsidiary
thereof in respect of such period,


 


(6)           solely
for the purpose of the definition of Excess Cash Flow and determining the amount available for Restricted Payments under Section 7.3(a)(3)(A),
the Net Income for such period of any Restricted Subsidiary (other than any Loan Party) shall be excluded to the extent that the
declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its Net Income is not at the date
of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by
the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental
regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of
dividends or similar distributions has been legally waived, provided that Consolidated Net Income of UK Holdco will be increased
by the amount of dividends or other distributions or other payments actually paid in cash or Cash Equivalents (or to the extent
converted into cash or Cash Equivalents) to UK Holdco or any of its Restricted Subsidiaries in respect of such period, to the extent
not already included therein,


 






    21


     


    

 


(7)           effects
of adjustments (including the effects of such adjustments pushed down to UK Holdco and its Restricted Subsidiaries) in any line
item in such Person’s consolidated financial statements (including, but not limited to, any step-ups with respect to re-valuing
assets and liabilities) pursuant to GAAP and related authoritative pronouncements resulting from the application in accordance
with GAAP of purchase accounting in relation to any investment, acquisition, merger or consolidation (or reorganization or restructuring)
that is consummated after the Closing Date or the depreciation, amortization or write-off of any amounts thereof, net of taxes,
shall be excluded,


 


(8)           any
net after-Tax income (loss) from the early extinguishment of (i) Indebtedness, (ii) Hedging Obligations or (iii) other
derivative instruments shall be excluded,


 


(9)           any
impairment charge or expense, asset write-off or write-down, including impairment charges or asset write-offs or write-downs related
to intangible assets, long-lived assets or investments in debt and equity securities or as a result of a change in law or regulations,
in each case, pursuant to GAAP and the amortization of intangibles arising pursuant to GAAP shall be excluded,


 


(10)         any
non-cash compensation charge or expense, including any such charge arising from grants of stock appreciation or similar rights,
phantom equity, stock options, restricted stock or other rights, and any cash charges associated with the rollover, acceleration
or payout of Equity Interests by management of UK Holdco or any of its direct or indirect parent companies, including any expense
resulting from the application of Statement of Financial Accounting Standards No. 123R shall be excluded, provided
that any subsequent settlement in cash shall reduce Consolidated Net Income for the period in which such payment occurs,


 


(11)         any
fees and expenses or other charges (including any make-whole premium or penalties) incurred during such period, or any amortization
thereof for such period, in connection with the Transactions, any acquisition, Investment, recapitalization, disposition,
Asset Sale, issuance or repayment of Indebtedness, equity offering, refinancing transaction or amendment or modification of any
debt instrument (in each case, (i) including any such transactions consummated prior to the Closing Date, (ii) whether
or not such transaction is undertaken but not completed, (iii) if unsuccessful, whether or not such transaction is permitted
by this Agreement (if such transaction would have been permitted if successful) and (iv) including any such transaction incurred
by any direct or indirect parent company of UK Holdco) and any charges or non-recurring merger costs incurred during such period
as a result of any such transaction shall be excluded,


 


(12)         accruals
and reserves that are established and not reversed within 12 months after the Closing Date that are so required to be established
as a result of the Transactions (or within 12 months after the closing of any acquisition that are so required to be established
as a result of such acquisition) in accordance with GAAP shall be excluded,


 


(13)         [reserved],


 


(14)         any
charges resulting from the application of Accounting Standards Codification Topic 805 “Business Combinations,” Accounting
Standards Codification Topic 350 “Intangibles—Goodwill and Other,” Accounting Standards Codification Topic 360-10-35-15
 “Impairment or Disposal of Long-Lived Assets,” Accounting Standards Codification Topic 480-10-25-4 “Distinguishing
Liabilities from Equity—Overall—Recognition” or Accounting Standards Codification Topic 820 “Fair Value
Measurements and Disclosures” shall be excluded,


 


(15)          non-cash
interest expense resulting from the application of Accounting Standards Codification Topic 470-20 “Debt—Debt with Conversion
Options—Recognition” shall be excluded,


 






    22


     


    

 


(16)         any
non-cash interest expense and non-cash interest income, in each case to the extent there is no associated cash disbursement or
receipt, as the case may be, before the maturity date of the Initial Term Loans, shall be excluded;


 


(17)         the
net after-Tax effect of carve-out related items (including, without limitation, elimination of duplicative costs (including with
respect to transaction services agreements) and costs and expenses related to information and technology systems establishment
or modification), in each case in connection with acquisitions and investments permitted hereunder, shall be excluded;


 


(18)         the
following items shall be excluded:


 


(a)            any
net unrealized gain or loss (after any offset) resulting in such period from (i) Hedging Obligations, (ii) the application
of Accounting Standards Codification Topic 815 “Derivatives and Hedging” and/or (iii) any ineffectiveness recognized
in earnings related to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives
that do not qualify as hedge transactions, in respect of Hedging Obligations;


 


(b)            any
net foreign exchange gains or losses (whether or not realized) resulting from the impact of foreign currency changes on the valuation
of assets and liabilities on the consolidated balance sheet of UK Holdco and its Restricted Subsidiaries (in each case, including
currency re-measurements of Indebtedness, any net loss or gain resulting from hedge arrangements for currency exchange or any other
currency related risk and any translation of assets and liabilities denominated in a foreign currency); and


 


(19)          any
fee, loss, charge, expense, cost, accrual or reserve associated with and/or payment of any actual or prospective legal settlement,
fine, judgment or order shall be excluded.


 


Solely for purposes
of calculating Consolidated EBITDA, the Net Income of UK Holdco and its Restricted Subsidiaries shall be calculated without deducting
the income attributable to the minority equity interests of third parties in any non-Wholly Owned Restricted Subsidiary except
to the extent (without duplication) of dividends declared or paid in respect of such period or any prior period on the shares of
Capital Stock of such Restricted Subsidiary held by such third parties.


 


In addition, to the
extent not already accounted for in the Consolidated Net Income of UK Holdco and its Restricted Subsidiaries, notwithstanding anything
to the contrary in the foregoing, Consolidated Net Income shall include (i) the amount of proceeds received during such period
from business interruption insurance in respect of insured claims for such period, (ii) the amount of proceeds as to which
the Borrower Representative has determined there is reasonable evidence it will be reimbursed by the insurer in respect of such
period from business interruption insurance (with a deduction for any amount so added back to the extent denied by the applicable
carrier in writing within 180 days or not so reimbursed within 365 days) and (iii) reimbursements of any expenses and charges
that are covered by indemnification, insurance or other reimbursement provisions in connection with any acquisition, permitted
Investment, Recovery Event or any sale, conveyance, transfer or other disposition of assets permitted hereunder.


 


Notwithstanding the
foregoing, (x) for the purpose of Section 7.3 only (other than clauses (a)(3)(E) and (a)(3)(F) therein),
there shall be excluded from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments
made by UK Holdco and its Restricted Subsidiaries, any repurchases and redemptions of Restricted Investments from UK Holdco and
its Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by UK Holdco or any of
its Restricted Subsidiaries, any sale of the stock of an Unrestricted Subsidiary or any distribution or dividend from an Unrestricted
Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments permitted under such covenant
pursuant to clauses (a)(3)(E) and (a)(3)(F) therein and (y) for the purpose of the definition of Excess Cash Flow
only, there shall be excluded the income (or deficit) of any Person accrued prior to the date it becomes a Restricted Subsidiary
or is merged into or consolidated with UK Holdco or any Restricted Subsidiary thereof.


 






    23


     


    

 


“Consolidated
Non-Cash Charges”: with respect to UK Holdco and its Restricted Subsidiaries for any period, the aggregate depreciation,
amortization (including amortization of intangibles, deferred financing fees, debt issuance costs, commissions, fees and expenses,
expensing of any bridge, commitment or other financing fees, the non-cash portion of interest expense resulting from the reduction
in the carrying value under purchase accounting of UK Holdco’s or any Restricted Subsidiary’s outstanding Indebtedness
and commissions, discounts, yield and other fees and charges but excluding amortization of prepaid cash expenses that were paid
in a prior period), non-cash impairment, non-cash compensation, non-cash rent and other non-cash expenses of UK Holdco and its
Restricted Subsidiaries reducing Consolidated Net Income of UK Holdco and its Restricted Subsidiaries for such period on a consolidated
basis and otherwise determined in accordance with GAAP; provided that if any non-cash charges referred to in this definition
represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future
period shall be subtracted from Consolidated EBITDA in such future period to such extent paid.


 


“Consolidated
Secured Indebtedness”: as of any date of determination, the aggregate principal amount of Consolidated Total Indebtedness
that is secured by a Lien on any asset of UK Holdco or any of its Restricted Subsidiaries that constitutes Collateral; provided
that “Consolidated Secured Indebtedness” shall be calculated, without duplication, after netting the Netted Amounts
from the amount of Consolidated Total Indebtedness so secured.


 


“Consolidated
Total Indebtedness”: as of any date of determination, the aggregate principal amount of Indebtedness described in clauses
(a)(i), (a)(ii) (excluding, for the avoidance of doubt, surety bonds, performance bonds and similar instruments)
and (a)(iv) of the definition of “Indebtedness” of UK Holdco and the Restricted Subsidiaries outstanding
on such date, determined on a consolidated basis, to the extent required to be recorded on a balance sheet in accordance with GAAP,
including, without duplication, the outstanding principal amount of the Term Loans; provided, that the amount of revolving
Indebtedness under this Agreement and any other revolving credit facility shall be computed based upon the period-ending value
of such Indebtedness during the applicable period; provided, further, that Consolidated Total Indebtedness shall
not include (x) Indebtedness in respect of any Qualified Receivables Financing permitted pursuant to Section 7.2,
any Hedging Obligations or any obligations that are non-recourse to UK Holdco and its Restricted Subsidiaries or (y) obligations
in respect of letters of credit (including Letters of Credit) or bankers’ acceptances, except to the extent of unreimbursed
amounts thereunder; provided, further, that “Consolidated Total Indebtedness”, “Consolidated First
Lien Indebtedness” and “Consolidated Secured Indebtedness” shall in each case (but without duplication) be calculated
for all purposes hereunder (i) net of the Unrestricted Cash Amount and (ii) to exclude any obligation, liability or indebtedness
if, upon or prior to the maturity thereof, the applicable Person has irrevocably deposited with the proper Person in trust or escrow
the necessary funds (or evidences of indebtedness) for the payment, redemption or satisfaction of such obligation, liability or
indebtedness, and thereafter such funds and evidences of such obligation, liability or indebtedness or other security so deposited
are not included in the calculation of the Unrestricted Cash Amount (clauses (i) and (ii), the “Netted Amounts”).


 


“Consolidated
Working Capital”: at any date, the excess of Consolidated Current Assets on such date over Consolidated Current
Liabilities on such date.






    24


     


    

 



 


“Consolidated
Working Capital Adjustment”: for any period on a consolidated basis, the amount (which may be a negative number) by which
Consolidated Working Capital as of the beginning of such period exceeds (or is less than (in which case the Consolidated Working
Capital Adjustment will be a negative number)) Consolidated Working Capital as of the end of such period.


 


“Contingent
Obligations”: with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations
that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, including, any obligation of such Person, whether or not contingent:


 


(1)            to
purchase any such primary obligation or any property constituting direct or indirect security therefor,


 


(2)            to
advance or supply funds:


 


(a)            for
the purchase or payment of any such primary obligation; or


 


(b)            to
maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary
obligor; or


 


(3)            to
purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the
ability of the primary obligor to make payment of such primary obligation against loss in respect thereof.


 


“Contractual
Obligation”: 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”: Indebtedness, Preferred Stock or Disqualified Stock of UK Holdco or any Restricted Subsidiary in an aggregate
principal amount not greater than 100% of the aggregate amount of contributions (including the proceeds of any sale of Capital
Stock other than Disqualified Stock) in the form of cash, and the Fair Market Value of contributions of Cash Equivalents, marketable
securities or other property (in each case other than Excluded Contributions, any contributions received in connection with the
exercise of the Cure Right or any such cash contributions that have been used to make a Restricted Payment), made to the equity
capital of UK Holdco or any Restricted Subsidiary (other than from UK Holdco or a Restricted Subsidiary) after the Closing Date.


 


“Control”:
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.


 


“Cost Saving
Initiative”: as defined in clause (1)(i) of the definition of “Consolidated EBITDA.”


 


“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).


 


“CRD IV”:
(i) Regulation (EU) No 575/2013 of the European Parliament of the Council of 26 June 2013 on prudential requirements
for credit institutions and investment firms; and (ii) Directive 2013/36/EU of the European Parliament and of the Council
of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and
investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC; or any law, rules or guidance
by which either of them is implemented.


 






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“CTA 2009”
means the United Kingdom Corporation Tax Act 2009.


 


“Cure Amount”:
as defined in Section 9.4(a).


 


“Cure Period”:
as defined in Section 9.4(a).


 


“Cure Right”:
as defined in Section 9.4(a).


 


“Customary
Bridge Financings”: customary bridge facilities that automatically convert into or are exchanged for permanent financing
that do not provide (i) an earlier final maturity date than the Latest Maturity Date of the Initial Term Loans or (ii) a
shorter Weighted Average Life to Maturity than the remaining Weighted Average Life to Maturity of the Initial Term Loans, in each
case determined at the time such facility is incurred.


 


“Debt Fund
Affiliate”: an Affiliate of any Sponsor (other than Holdings and any of its Subsidiaries) that is a bona fide debt fund
or an investment vehicle that is engaged in the making, purchasing, holding or otherwise investing in commercial loans, bonds and
similar extensions of credit in the ordinary course of business with respect to which any Sponsor and its Affiliates (other than
Debt Fund Affiliates) do not directly or indirectly possess the power to direct or cause the direction of the investment policies
of such entity.


 


“Debtor Relief
Laws”: the Bankruptcy Code of the United States, the United Kingdom Insolvency Act 1986 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”: as defined in Section 2.11(f).


 


“Default”:
any of the events specified in Section 9.1, whether or not any requirement for the giving of notice, the lapse of time,
or both, has been satisfied.


 


“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.


 


“Delaware
Divided LLC” means a Delaware LLC which has been formed upon the consummation of a Delaware LLC Division.


 


“Delaware
LLC” means any limited liability company organized or formed under the laws of the State of Delaware.


 


“Delaware
LLC Division” means the statutory division of any Delaware LLC limited liability company into two or more Delaware LLCs
limited liability companies pursuant to Section 18-217 of the Delaware Limited Liability Company Act or a comparable provision
of any other requirement of Law.


 






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“Defaulting
Lender”: any Lender that (a) has refused (whether verbally or in writing) to fund (and has not retracted such refusal),
or has failed to fund, any portion of the Term Loans, Revolving Loans, participations in L/C Obligations or participations in Swingline
Loans required to be funded by it hereunder (collectively, its “Funding Obligations”) within two (2) Business
Days of the date required to be funded by such Lender hereunder unless such Lender notifies the Administrative Agent and the Borrower
Representative in writing that such failure is the result of such Lender’s determination that one or more conditions precedent
to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such
writing), (b) has notified the Administrative Agent or the Borrower Representative in writing that it does not intend to (or
will not be able to) satisfy such Funding Obligations or has made a public statement to that effect with respect to its Funding
Obligations or generally under other agreements in which it commits to extend credit (unless such writing or public statement relates
to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination
that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified
in such writing or public statement) cannot be satisfied), (c) has otherwise failed to pay over to the Administrative Agent
or any other Lender any other amount required to be paid by it hereunder within two (2) Business Days of the date when due,
(d) has failed, within three (3) Business Days after written request by the Administrative Agent, to confirm in a manner
reasonably satisfactory to the Administrative Agent that it will comply with its Funding Obligations; provided that such
Lender shall cease to be a Defaulting Lender pursuant to this clause (d) upon the Administrative Agent’s receipt of
such confirmation, or (e) has, or has a direct or indirect parent company that has, (i) admitted in writing that it is
insolvent or that it is not able to pay its debts as they become due, (ii) become the subject of a proceeding under any Debtor
Relief Law, (iii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or a substantial part of its assets or a custodian appointed for it,
(iv) is or becomes subject to a forced liquidation, (v) makes a general assignment for the benefit of creditors or is
otherwise adjudicated as, or determined by any Governmental Authority having regulatory authority over such person or its assets
to be insolvent or bankrupt, (vi) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence
in any such proceeding or appointment or action or (vii) become the subject of a Bail-In Action or any other similar proceeding
or process; provided that a Lender shall not be a Defaulting Lender under this clause (e) solely by virtue of the ownership
or acquisition of any equity interest in that Lender or the existence of an Undisclosed Administration in respect of that Lender
(or, in such any case, any direct or indirect parent company thereof) by a Governmental Authority so long as such ownership interest
or Undisclosed Administration does not result in or provide such Lender 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 Lender (or such Governmental
Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.


 


“Defaulting
Lender Fronting Exposure”: at any time there is a Defaulting Lender, (a) with respect to any Issuing Lender, such
Defaulting Lender’s Pro Rata Share of the Outstanding Amount of L/C Obligations of such Issuing Lender other than L/C Obligations
as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized
in accordance with the terms hereof, and (b) with respect to any Swingline Lender, such Defaulting Lender’s Pro Rata
Share of Swingline Loans other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof.


 


“Designated
Non-cash Consideration”: the Fair Market Value of non-cash consideration received by UK Holdco or any of its Restricted
Subsidiaries in connection with an Asset Sale that is determined by the Borrower Representative to be Designated Non-cash Consideration,
less the amount of Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash
Consideration.


 






    27


     


    

 


“Designated
Preferred Stock”: Preferred Stock of UK Holdco or any direct or indirect parent of UK Holdco, as applicable (other than
Disqualified Stock), that is issued for cash (other than to UK Holdco or any of the Restricted Subsidiaries or an employee stock
ownership plan or trust established by UK Holdco or any of its Subsidiaries) and is so designated as Designated Preferred Stock,
pursuant to an Officer’s Certificate signed on behalf of the Borrower Representative, on the issuance date thereof, the cash
proceeds of which are excluded from the calculation set forth in Section 7.3(a)(3).


 


“Disposition”:
with respect to any property (including Capital Stock of UK Holdco or any Restricted Subsidiary), any sale, lease, Sale Leaseback
Transaction, assignment, conveyance, transfer or other disposition thereof (including by merger or consolidation or amalgamation
and excluding the granting of a Lien permitted hereunder) and any issuance of Capital Stock of any Restricted Subsidiary. The terms
 “Dispose” and “Disposed of” shall have correlative meanings.


 


“Disqualified
Lender”: (i) each bank, financial institution, other institutional lenders and investors and other entities identified
on a list made available to the Administrative Agent and the Joint Lead Arrangers on or prior to the date of the engagement letter
entered into with the Joint Lead Arrangers and (ii) each competitor of UK Holdco or any of its Subsidiaries that is in the
same or a similar line of business as UK Holdco and its Subsidiaries identified by name and designated in writing from time to
time to the Administrative Agent and (iii) as to any entity referenced in clause (ii) above (the “Primary Disqualified
Lender”), any of such Primary Disqualified Lender’s Affiliates clearly identifiable as such solely on the basis
of its name, but excluding any Affiliate that is primarily engaged in, or that advises bona fide debt funds, or other investment
vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions
of credit or securities in the ordinary course and with respect to which the Primary Disqualified Lender does not, directly or
indirectly, possess the power to direct or cause the direction of such entity; provided that any Person that is a Lender
and subsequently becomes a Disqualified Lender (but was not a Disqualified Lender on the Closing Date or at the time it became
a Lender) shall be deemed to not be a Disqualified Lender hereunder. The list of Disqualified Lenders shall be held by the Administrative
Agent and made available to Lenders (including in connection with the sale of a participation interest pursuant to Section 11.6(c))
upon request.


 


“Disqualified
Stock”: with respect to any Person, any Capital Stock of such Person that, by its terms (or by the terms of any security
into which it is convertible or for which it is redeemable or exchangeable, in each case at the option of the holder thereof),
or upon the happening of any event:


 


(1)            matures
or is mandatorily redeemable (other than as a result of a change of control, asset sale or casualty event), pursuant to a sinking
fund obligation or otherwise,


 


(2)            is
convertible or exchangeable for Indebtedness or Disqualified Stock, or


 


(3)            is
redeemable at the option of the holder thereof,


 


in whole or in part,
in each case prior to 91 days after the maturity date of the Initial Term Facility (other than as a result of a change of control,
asset sale or casualty event to the extent permitted under clause (1) above); provided, however, that only the
portion of Capital Stock that so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at
the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock; provided, further,
however, that if such Capital Stock is issued to any plan for the benefit of employees of UK Holdco or its Subsidiaries
or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required
to be repurchased by UK Holdco or any Restricted Subsidiary in order to satisfy applicable statutory or regulatory obligations;
provided, further, however, that any Capital Stock held by any future, current or former employee, director,
manager or consultant (or their respective trusts, estates, investment funds, investment vehicles or immediate family members),
of UK Holdco, any of its Subsidiaries, any of its direct or indirect parent companies or any other entity in which UK Holdco or
a Restricted Subsidiary has an Investment and is designated in good faith as an “affiliate” by the Board of Directors
of the Borrower Representative (or the compensation committee thereof), in each case pursuant to any stockholders’ agreement,
management equity plan, stock option plan or any other management or employee benefit plan or agreement shall not constitute Disqualified
Stock solely because it may be required to be repurchased by UK Holdco or any Restricted Subsidiary; provided, further,
however, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations
thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be deemed to be Disqualified Stock.


 






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“Dollar Amount”:
at any time:


 


(a)            with
respect to any Loan denominated in Dollars, the principal amount thereof then outstanding (or in which such participation is held);
and


 


(b)            with
respect to any Loan denominated in an Alternative Currency, the principal amount thereof then outstanding in the relevant Alternative
Currency, converted to Dollars in accordance with Section 1.5.


 


“Dollars”
and “$”: dollars in lawful currency of the United States.


 


“DPTA”:
as defined in Section 8.12(d).


 


“Dutch Auction”:
one or more purchases (each, a “Purchase”) by a Permitted Auction Purchaser or an Affiliated Lender (either,
a “Purchaser”) of Term Loans; provided that, each such Purchase is made on the following basis:


 


(a)            (i) the
Purchaser will notify the Administrative Agent in writing (a “Purchase Notice”) (and the Administrative Agent
will deliver such Purchase Notice to each relevant Lender) that such Purchaser wishes to make an offer to purchase from each Term
Lender and/or each Lender with respect to any Class of Term Loans on an individual tranche basis Term Loans, in an aggregate
principal amount as is specified by such Purchaser (the “Term Loan Purchase Amount”) with respect to each applicable
tranche, subject to a range or minimum discount to par expressed as a price at which range or price such Purchaser would consummate
the Purchase (the “Offer Price”) of such Term Loans to be purchased (it being understood that different Offer
Prices and/or Term Loan Purchase Amounts, as applicable, may be offered with respect to different tranches of Term Loans and, in
such an event, each such offer will be treated as a separate offer pursuant to the terms of this definition); provided that
the Purchase Notice shall specify that each Return Bid (as defined below) must be submitted by a date and time to be specified
in the Purchase Notice, which date shall be no earlier than the second Business Day following the date of the Purchase Notice and
no later than the fifth Business Day following the date of the Purchase Notice and (ii) the Term Loan Purchase Amount specified
in each Purchase Notice delivered by such Purchaser to the Administrative Agent shall not be less than $10,000,000 in the aggregate;


 


(b)            such
Purchaser will allow each Lender holding the Class of Term Loans subject to the Purchase Notice to submit a notice of participation
(each, a “Return Bid”) which shall specify (i) one or more discounts to par of such Lender’s tranche
or tranches of Term Loans subject to the Purchase Notice expressed as a price (each, an “Acceptable Price”)
(but in no event will any such Acceptable Price be greater than the highest Offer Price for the Purchase subject to such Purchase
Notice) and (ii) the principal amount of such Lender’s tranches of Term Loans at which such Lender is willing to permit
a purchase of all or a portion of its Term Loans to occur at each such Acceptable Price (the “Reply Amount”);


 






    29


     


    

 


(c)            based
on the Acceptable Prices and Reply Amounts of the Term Loans as are specified by the Lenders, such Purchaser will determine the
applicable discount (the “Applicable Discount”), which will be either, as applicable, (i) the lowest Acceptable
Price at which such Purchaser can complete the Purchase for the entire Term Loan Purchase Amount or (ii) in the event that
the aggregate Reply Amounts relating to such Purchase Notice are insufficient to allow such Purchaser to complete a purchase of
the entire Term Loan Purchase Amount, the highest Acceptable Price that is less than or equal to the Offer Price;


 


(d)            such
Purchaser shall purchase Term Loans from each Lender with one or more Acceptable Prices that are equal to or less than the Applicable
Discount at the Applicable Discount (such Term Loans being referred to as “Qualifying Loans” and such Lenders
being referred to as “Qualifying Lenders”), subject to clauses (e), (f), (g) and (h) below;


 


(e)            such
Purchaser shall purchase the Qualifying Loans offered by the Qualifying Lenders at the Applicable Discount; provided that
if the aggregate principal amount required to purchase the Qualifying Loans would exceed the Term Loan Purchase Amount, such Purchaser
shall purchase Qualifying Loans ratably based on the aggregate principal amounts of all such Qualifying Loans tendered by each
such Qualifying Lender;


 


(f)            the
Purchase shall be consummated pursuant to and in accordance with Section 11.6(b) and, to the extent not otherwise
provided herein, shall otherwise be consummated pursuant to procedures (including as to timing, rounding and minimum amounts, Interest
Periods, and other notices by such Purchaser) reasonably acceptable to the Administrative Agent (provided that, subject
to the proviso of clause (g) of this definition, such Purchase shall be required to be consummated no later than five Business
Days after the time that Return Bids are required to be submitted by Lenders pursuant to the applicable Purchase Notice);


 


(g)            upon
submission by a Lender of a Return Bid, subject to the foregoing clause (f), such Lender will be irrevocably obligated to sell
the entirety or its pro rata portion (as applicable pursuant to clause (e) above) of the Reply Amount
at the Applicable Discount plus accrued and unpaid interest through the date of purchase to such Purchaser pursuant to
Section 11.6(b) and as otherwise provided herein; provided that as long as no Return Bids have been submitted
each Purchaser may rescind its Purchase Notice by notice to the Administrative Agent; and


 


(h)            purchases
by a Permitted Auction Purchaser of Qualifying Loans shall result in the immediate Cancellation of such Qualifying Loans.


 


“EBITDA”:
for any period for any Person, the aggregate (without double counting) earnings before interest, tax, depreciation and amortization
attributable to such Person for such period (calculated on the same basis as Consolidated EBITDA mutatis mutandis but on
an unconsolidated basis and excluding intercompany items (other than intercompany profit margins), as applicable).


 


“ECF Percentage”: 50%;
provided that the ECF Percentage shall be reduced to (i) 25% if the First Lien Net Leverage Ratio as of the last day
of the most recently ended Reference Period is less than or equal to 4.50 to 1.00 and greater than 4.00 to 1.00 and (ii) 0%
if the First Lien Net Leverage Ratio as of the last day of the most recently ended Reference Period is less than or equal to 4.00
to 1.00; provided that the ECF Percentage shall be determined on the date of required prepayment in respect of Excess Cash
Flow and giving pro forma effect to such prepayment and to any other repayment or prepayment at or prior to the time such prepayment
in respect of Excess Cash Flow is due.


 






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“EEA Financial
Institution”: (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”: any of the member states of the European Union, Iceland, Liechtenstein, and Norway.


 


“EEA Resolution
Authority”: any public administrative authority or any Person entrusted with public administrative authority of any EEA
Member Country (including any delegee) having the responsibility for the resolution of any EEA Financial Institution.


 


“Effective
Yield”: as to any Indebtedness, the effective yield applicable thereto calculated by the Administrative Agent in consultation
with the Borrower Representative in a manner consistent with generally accepted financial practices, taking into account (a) interest
rate margins, (b) interest rate floors (subject to the proviso set forth below), (c) any amendment to the relevant interest
rate margins and interest rate floors prior to the applicable date of determination and (d) original issue discount and upfront
or similar fees (based on an assumed four-year average life to maturity or lesser remaining average life to maturity), but excluding
(i) any advisory, arrangement, commitment, consent, structuring, success, underwriting, ticking, unused line fees, amendment
fees and/or any similar fees payable in connection therewith (regardless of whether any such fees are paid to or shared in whole
or in part with any lender) and (ii) any other fee that is not paid directly by the Borrower Representative generally to all
relevant lenders ratably (or, if only one lender (or affiliated group of lenders) is providing such Indebtedness, are fees of the
type not customarily shared with lenders generally); provided, that with respect to any Indebtedness that includes a “LIBOR
floor” or “Base Rate floor”, that (A) to the extent that the “LIBOR rate” (for an Interest Period
of three months) or “Base Rate” (in each case without giving effect to any floor specified in the definitions thereof
on the date on which the Effective Yield is being calculated) is less than such floor, the amount of such difference will be deemed
added to the interest rate margin applicable to such Indebtedness for purposes of calculating the Effective Yield and (B) to
the extent that the “LIBOR rate” (for an Interest Period of three months) or “Base Rate” (in each case,
without giving effect to any floor specified in the definitions thereof) is greater than such floor, the floor will be disregarded
in calculating the Effective Yield.


 


“Eligible
Assignee”: (a) any Lender, any Affiliate of a Lender and any Approved Fund (any two or more Approved Funds with
respect to a particular Lender being treated as a single Eligible Assignee for all purposes hereof), and (b) any commercial
bank, insurance company, financial institution, investment or mutual fund or other entity that is an “accredited investor”
(as defined in Regulation D under the Securities Act) and which extends credit or buys commercial loans in the ordinary course;
provided that “Eligible Assignee” (x) shall include (i) Debt Fund Affiliates and Affiliated Lenders,
subject to the provisions of Section 11.6(b)(iv) and (ii) Permitted Auction Purchasers, subject to the provisions
of Section 11.6(b)(iii), and solely to the extent that such Permitted Auction Purchasers purchase or acquire Term Loans
pursuant to a Dutch Auction or open market purchase permitted hereunder and effect a Cancellation immediately upon such contribution,
purchase or acquisition pursuant to documentation reasonably satisfactory to the Administrative Agent and (y) shall not include
any Disqualified Lender, any natural person (or a holding company, investment vehicle or trust for, or owned and operated by or
for the primary benefit of, one or more natural persons) or any Term Borrower, Holdings or any of their Affiliates (other than
as set forth in this definition).


 






    31


     


    

 


“EMU Legislation”:
the legislative measures of the European Council for the introduction of, changeover to or operation of a single or unified European
currency.


 


“Environmental
Laws”: any and all foreign, Federal, state, local or municipal laws, rules, orders, regulations, statutes, ordinances,
codes, decrees, legally binding requirements of any Governmental Authority or other Requirements of Law (including common law)
regulating, relating to or imposing liability or standards of conduct concerning the release, transportation, generation, use,
handling, treatment, storage or disposal of Materials of Environmental Concern, human health and safety with respect to exposure
to Materials of Environmental Concern, and protection or restoration of the environment.


 


“Equity Interests”:
Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible
into, or exchangeable for, Capital Stock).


 


“ERISA”:
the Employee Retirement Income Security Act of 1974, as amended from time to time.


 


“EU Bail-In
Legislation Schedule”: the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor
person), as in effect from time to time.


 


“EU Lender”:
in respect of a Spanish Borrower, a Lender which (a) is resident for Tax purposes in a member state of the European Union
(other than Spain) acting directly or through a permanent establishment located in another a member state of the European Union
(other than Spain), provided that it does not act in respect of the Loan through a permanent establishment located in Spain or
in a jurisdiction other than a member state of the European Union; and (b) does not obtain the relevant income through a state
or territory treated as a tax haven pursuant to Spanish laws and regulations (currently set out in Royal Decree 1080/1991, of 5
July -Real Decreto 1080/1991, de 5 de julio-, as amended or restated).


 


“Eurocurrency
Rate”: for any Interest Period,


 


(a)            in
the case of any Eurocurrency Loan denominated in a LIBOR Quoted Currency, 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 in consultation
with the Borrower Representative 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, two Business Days prior to the commencement of such Interest Period, for deposits in the relevant currency (for delivery
on the first day of such Interest Period) with a term equivalent to such Interest Period;


 


(b)            in
the case of any Eurocurrency Loan denominated in Australian dollars, the rate per annum equal to the Bank Bill Swap Reference Bid
Rate (“BBSY”) or a comparable or successor rate, which rate is approved by the Administrative Agent in consultation
with the Borrower Representative, 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 or about 10:30 a.m. (Melbourne,
Australia time) on the Rate Determination Date with a term equivalent to such Interest Period;


 






    32


     


    

 


(c)            in
the case of any Eurocurrency Loan denominated in any Non-LIBOR Quoted Currency (other than Australian Dollars), the rate per annum
as designated with respect to such Alternative Currency at the time such Alternative Currency is approved by the Administrative
Agent and the Revolving Lenders or Issuing Lenders, as applicable, pursuant to Section 2.30(a); and


 


(d)            for
any rate calculation with respect to an ABR Loan on any date, 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;


 


provided that if the
Eurocurrency Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.


 


“Eurocurrency
Loans”: Loans that bear interest at a rate based on clauses (a) – (b) of the definition of Eurocurrency
Rate.


 


“Eurocurrency
Tranche”: the collective reference to Eurocurrency Loans under a particular Facility the then current Interest Periods
with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally
have been made on the same day).


 


“Euros”,
 “EUR” and “€”: the single currency of the Participating Member States; provided,
that if any member state or states ceases to have such single currency as its lawful currency (such member state(s) being
the “Exiting State(s)”), EUR, Euro and € shall, for the avoidance of doubt, mean for all purposes the single
currency adopted and retained as the lawful currency of the remaining member states and shall not include any successor currency
introduced by the Exiting State(s).


 


“Event of
Default”: any of the events specified in Section 9.1; provided that any requirement for the giving
of notice, the lapse of time, or both, has been satisfied.


 


“Excess Cash
Flow”: for any Excess Cash Flow Period, the excess, if positive, of


 


(a)            the
sum, without duplication, of


 


(i)              Consolidated
Net Income for such Excess Cash Flow Period,


 


(ii)             the
amount of Consolidated Non-Cash Charges deducted in arriving at such Consolidated Net Income, but excluding any such Consolidated
Non-Cash Charges representing an accrual or reserve for a potential cash item in any future period,


 


(iii)            the
Consolidated Working Capital Adjustment for such Excess Cash Flow Period,


 


(iv)            the
aggregate net amount of non-cash loss on the Disposition of property by UK Holdco and the Restricted Subsidiaries during such Excess
Cash Flow Period (other than sales in the ordinary course of business), to the extent deducted in arriving at such Consolidated
Net Income,


 


(v)             the
amount of Tax expense in excess of the amount of Taxes paid in cash during such Excess Cash Flow Period to the extent such Tax
expense was deducted in determining Consolidated Net Income for such period, and


 


(vi)            cash
receipts in respect of Swap Agreements during such Excess Cash Flow Period to the extent not otherwise included in Consolidated
Net Income, over


 






    33


     


    

 


(b)            the
sum, without duplication, of


 


(i)             the
amount of all non-cash credits included in arriving at such Consolidated Net Income (but excluding any non-cash credit to the extent
representing a reversal of an accrual or reserve described in clause (a)(ii)),


 


(ii)            [reserved],


 


(iii)           [reserved],


 


(iv)           to
the extent not deducted in determining Consolidated Net Income, Permitted Tax Distributions and Taxes of any Group Member that
were paid in cash with respect to such Excess Cash Flow Period,


 


(v)            all
mandatory prepayments of the Term Loans pursuant to Section 2.11 made during such Excess Cash Flow Period as a result
of any Asset Sale or Recovery Event, but only to the extent that such Asset Sale or Recovery Event resulted in a corresponding
increase in Consolidated Net Income,


 


(vi)           [reserved],


 


(vii)          to
the extent not funded with the proceeds of Indebtedness (other than Indebtedness under the Revolving Facility or any other revolving
credit facility), the aggregate amount of all regularly scheduled principal amortization payments of Funded Debt made on their
due date during such Excess Cash Flow Period (including payments in respect of Capitalized Lease Obligations to the extent not
deducted in the calculation of Consolidated Net Income),


 


(viii)         to
the extent not funded with the proceeds of Indebtedness (other than Indebtedness under the Revolving Facility or any other revolving
credit facility), the aggregate amount of all optional prepayments, repurchases and redemptions of Indebtedness (other than (x) the
Loans and other such amounts deducted from the amount of Excess Cash Flow required to be prepaid pursuant to Section 2.11(b) and
(y) in respect of any revolving credit facility to the extent there is not an equivalent permanent reduction in commitments
thereunder) made during the Excess Cash Flow Period,


 


(ix)           the
aggregate net amount of non-cash gains on the Disposition of property by UK Holdco and the Restricted Subsidiaries during such
Excess Cash Flow Period (other than sales of inventory in the ordinary course of business), to the extent included in arriving
at such Consolidated Net Income,


 


(x)            [reserved],


 


(xi)           any
cash payments that are made during such Excess Cash Flow Period and have the effect of reducing an accrued liability that was not
accrued during such period,


 


(xii)          the
amount of Taxes paid in cash during such Excess Cash Flow Period to the extent they exceed the amount of Tax expense deducted in
determining Consolidated Net Income for such period,


 


(xiii)         [reserved],


 






    34


     


    

 


(xiv)            the
aggregate amount of any premium, make-whole or penalty payments actually paid in cash by UK Holdco and any Restricted Subsidiary
during such period that are required to be made in connection with any prepayment or satisfaction and discharge of Indebtedness,


 


(xv)             cash
expenditures in respect of Swap Agreements during such fiscal year to the extent not deducted in arriving at such Consolidated
Net Income,


 


(xvi)            the
amount of cash payments made in respect of pensions and other post-employment benefits in such period to the extent not deducted
in arriving at such Consolidated Net Income,


 


(xvii)           the
amount of cash and Cash Equivalents subject to cash collateral or other deposit arrangements made with respect to Letters of Credit
or Swap Agreements; provided, that if such cash and Cash Equivalents cease to be subject to those arrangements, such amount
shall be added back to Excess Cash Flow for the subsequent Excess Cash Flow Period when such arrangements cease,


 


(xviii)          a
reserve established by UK Holdco or any Restricted Subsidiary in good faith in respect of deferred revenue that any Group Member
generated during such Excess Cash Flow Period; provided that, to the extent all or any portion of such deferred revenue
is not returned to customers during the immediately succeeding Excess Cash Flow Period or otherwise included in the Consolidated
Net Income in the immediately subsequent year, such deferred revenue shall be added back to Excess Cash Flow for such subsequent
Excess Cash Flow Period,


 


(xix)            cash
payments by UK Holdco and its Restricted Subsidiaries in respect of long-term liabilities to the extent not deducted in arriving
at such Consolidated Net Income; provided that no such payments are with respect to long-term liabilities with an Affiliate of
UK Holdco (or are guaranteed by an Affiliate of UK Holdco), and


 


(xx)             amounts
added to Consolidated Net Income pursuant to clauses (1), (3), (4) and (11) of the definition of “Consolidated Net Income”
and, without duplication, any other loss, expense, accrual, reserve or charge excluded in the calculation of “Consolidated
Net Income” paid or payable in cash.


 


In no event shall Excess
Cash Flow be calculated on a Pro Forma Basis.


 


“Excess Cash
Flow Application Date”: as defined in Section 2.11(b).


 


“Excess Cash
Flow Period”: each fiscal year of UK Holdco beginning with the fiscal year ending December 31, 2020.


 


“Exchange
Act”: the Securities Exchange Act of 1934, as amended from time to time, and any successor statute.


 


“Exchange
Rate”: on any day with respect to any Alternative Currency, the Administrative Agent’s spot rate of exchange for
the purchase of such Alternative Currency with Euros in the London foreign exchange market at approximately 11:00 a.m. (London
time) on such day.


 






    35


     


    

 


“Excluded
Assets”: with respect to any Loan Party (as it relates to clauses (ii), (iii) and (ix), to the extent the UCC or
United States Law is applicable to the relevant asset): (i) fee owned real property and all leasehold property (and, for the
avoidance of doubt, in no event shall landlord lien waivers, estoppels and collateral access letters be required to be delivered
with respect to any such leasehold property), (ii) any vehicles and other assets subject to certificates of title (other than
to the extent perfection of the security interest in such assets is accomplished solely by the filing of a UCC financing statement),
(iii) chattel paper, letter of credit rights and tort claims (other than to the extent perfection of the security interest
therein is accomplished solely by the filing of a UCC financing statement), (iv) any assets the granting of a security interest
in which (1) is prohibited or restricted by Law (including restrictions in respect of margin stock and financial assistance,
fraudulent conveyance, preference, thin capitalization or other similar laws or regulations), (2) requires government or third-party
consents that have not been obtained or would violate the terms of any contract or trigger termination pursuant to a “change
of control” provision; provided that such contracts were not entered into in contemplation of the release of Collateral
or the creation of an Excluded Asset (after giving effect to the applicable anti-assignment provisions of the UCC or other applicable
Law, the granting or assignment of which is expressly deemed effective under the UCC or other applicable Law notwithstanding any
applicable prohibition); provided, that there shall be no requirement to use efforts to procure the relevant consents or
(3) could reasonably be expected to result in material adverse accounting, regulatory or Tax consequences as determined by
the Borrower Representative in good faith in consultation with the Administrative Agent, (v) (A) any margin stock and
(B) Equity Interests in an Excluded Subsidiary (other than a CFC or a FSHCO), (vi) any assets where the cost, burden
or difficulty of obtaining a security interest in, or perfection of a security interest in, such assets exceeds the practical benefit
to the Secured Parties afforded thereby (as reasonably determined by the Borrower Representative), (vii) any governmental
or regulatory licenses or state or local franchises, charters, consents, permits and authorizations, to the extent a security interest
in any such license, franchise, charter, consent, permit or authorization is prohibited or restricted thereby, (viii) any
general intangible, lease, license, agreement or similar arrangement or any property subject thereto (including pursuant to a purchase
money security interest or similar arrangement) to the extent that a grant of a security interest therein would violate or invalidate
such general intangible, lease, license or agreement or purchase money arrangement or create a right of termination in favor of
any other party thereto (other than the Loan Parties) after giving effect to the applicable anti-assignment provisions of the UCC
or other applicable law, the assignment of which is expressly deemed effective under the UCC or other applicable law notwithstanding
such prohibition, (ix) any cash and Cash Equivalents (other than proceeds of Collateral as to which perfection of the security
interest in such proceeds is accomplished solely by the filing of a UCC financing statement), deposit and securities accounts (including
securities entitlements and related assets) and any other assets requiring perfection through control agreements or perfection
by “control” (other than in respect of certificated equity interests in the Borrowers, the Guarantors and material
wholly-owned Restricted Subsidiaries thereof required to be pledged pursuant to the Security Documents), (x) any intent-to-use
trademark application prior to the filing and acceptance by the United States Patent and Trademark Office 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 of a security interest therein would impair the validity or enforceability of such intent-to-use
trademark application, or any registration issuing therefrom, under applicable federal law, (xi) any assets of any Excluded
Subsidiary, (xii) any property subject to a capital lease, purchase money security interest or, in the case of property of
a Loan Party acquired after the Closing Date, pre-existing secured indebtedness not incurred in anticipation of the acquisition
by the applicable Loan Party, to the extent that the granting of a security interest in such property would be prohibited under
the terms of such capital lease, purchase money financing or secured indebtedness, (xiii) [reserved], (xiv) any Equity
Interests of a CFC or of a FSHCO, other than 65% of the total outstanding voting Equity Interests and 100% of the total outstanding
non-voting Equity Interests of such CFC or FSHCO that, in each case, are directly owned by a Loan Party, (xv) receivables
and related assets (A) sold to any Receivables Subsidiary or (B) otherwise sold, pledged, factored, contributed or disposed
of in connection with any Qualified Receivables Financing or other factoring arrangement not prohibited hereunder, (xvi) any
assets which are subject to a security interest in respect of Acquired Indebtedness and such security interest constitutes a Permitted
Lien, (xvii) any Rule 3-16 Capital Stock and (xviii) any asset excluded by the Collateral and Guarantee Principles
or the Agreed Security Principles.


 






    36


     


    

 


“Excluded
Contributions”: the net cash proceeds and Cash Equivalents or Fair Market Value of assets or property received by or
contributed to UK Holdco or its Restricted Subsidiaries after the Closing Date (other than (i) such amounts provided by or
contributed to UK Holdco or its Restricted Subsidiaries from or by any Restricted Subsidiary and (ii) Permitted Cure Securities)
from:


 


(a)            contributions
to its common or preferred equity capital, and


 


(b)            the
sale (other than to UK Holdco or a Restricted Subsidiary or management equity plan or stock option plan or any other management
or employee benefit plan or agreement) of Capital Stock (other than Refunding Capital Stock, Disqualified Stock and Designated
Preferred Stock) of UK Holdco or any direct or indirect parent,


 


in each case designated as Excluded Contributions
pursuant to an Officer’s Certificate signed on behalf of the Borrower Representative on or about the date such capital contributions
are made or the date such Capital Stock is sold, as the case may be, the proceeds of which are excluded from the calculation set
forth in Section 7.3(a)(3).


 


“Excluded
ECP Guarantor”: in respect of any Swap Obligation, any Loan Party that is not a Qualified ECP Guarantor at the time such
Swap Obligation is incurred.


 


“Excluded
Subsidiary”: any Subsidiary of UK Holdco that is, at any time of determination, (i) not a Wholly Owned Subsidiary,
provided that such Subsidiary shall cease to be an Excluded Subsidiary at the time such Subsidiary becomes a Wholly Owned
Subsidiary, (ii) a special purpose securitization vehicle (or similar special purpose entity), including any Receivables Subsidiary
created pursuant to a transaction permitted under this Agreement, (iii) a joint venture, (iv) a not-for-profit Subsidiary,
(v) a Captive Insurance Subsidiary, Immaterial Subsidiary or broker-dealer Subsidiary, (vi) organized under the
laws of any jurisdiction other than a Security Jurisdiction, (vii) a CFC, (viii) a FSHCO, (ix) a Subsidiary of a
CFC or of a FSHCO, (x) an Unrestricted Subsidiary, (xi) any Subsidiary for which the providing of a guarantee could reasonably
be expected (A) to result in any violation or breach of, or conflict with, fiduciary duties of such subsidiary’s officers,
directors or managers or (B) to result in material adverse regulatory or Tax consequences, as determined by the Borrower Representative
in good faith in consultation with the Administrative Agent, (xii) any Subsidiary that is prohibited or restricted by (A) applicable
requirements of Law or (B) any contractual obligation, in each case from guaranteeing the Obligations or which would require
governmental (including regulatory) or third-party consent, approval, license or authorization in order to provide such guarantee
(including under any financial assistance, corporate benefit, thin capitalization, capital maintenance, liquidity maintenance or
similar legal principles), unless such consent, approval, license or authorization has been obtained, it being understood that
neither Holdings nor any of its Subsidiaries shall have any obligation to obtain any such consent, approval, license or authorization,
(xiii) any Subsidiary in respect of which the Borrower Representative determines in consultation with the Administrative Agent
that the cost, burden, difficulty or consequence of providing a guarantee is excessive in relation to the benefit to the Lenders
of the security to be afforded thereby or the value of such guarantee or (xiv) any Subsidiary to the extent excluded by the
application of the Collateral and Guarantee Principles or the Agreed Security Principles. Notwithstanding the foregoing, the Borrower
Representative may from time to time, upon notice to the Administrative Agent, elect to cause any Subsidiary that would otherwise
be an Excluded Subsidiary to become a Subsidiary Guarantor (but shall have no obligation to do so), subject to the satisfaction
of guarantee and collateral requirements consistent with the Security Documents delivered on the Closing Date (giving effect, as
applicable, to the Collateral and Guarantee Principles or the Agreed Security Principles) or otherwise reasonably acceptable to
the Borrower Representative and the Administrative Agent (which shall include, in the case of a Foreign Subsidiary, guarantee and
collateral requirements customary under local law, including customary local limitations). The Borrower Representative may subsequently
elect to release any such Subsidiary as a Subsidiary Guarantor at any time in its sole discretion (it being understood that such
release shall be subject to (A) UK Holdco or its applicable Restricted Subsidiary having capacity to make hereunder, and being
deemed to make hereunder, an Investment in such Subsidiary after such release and (B) such Subsidiary having capacity to incur
hereunder, and being deemed to incur hereunder, any Indebtedness or Liens after such release).


 






    37


     


    

 


“Excluded
Swap Obligation”: any obligation (a “Swap Obligation”) of any Excluded ECP Guarantor to pay or perform
under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the
Commodity Exchange Act, if, and to the extent that, all or a portion of the Guarantee of such Guarantor of, or the grant by such
Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity
Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation
of any thereof) by virtue of such Guarantor’s failure for any reason not to constitute an “eligible contract participant”
as defined in the Commodity Exchange Act.


 


“Existing
Letter of Credit”: as defined in Section 3.1(c).


 


“Existing
Senior Notes”: as defined in the preamble hereto.


 


“Existing
Senior Notes Indenture”: as defined in the preamble hereto.


 


“Existing
Swap Agreement”: each Swap Agreement listed on Schedule 1.1F.


 


“Expected
Cost Savings”: as defined in clause (1)(i) of the definition of “Consolidated EBITDA.”


 


“Export Control
Laws”: such export-control Laws as are administered or enforced by the U.S. Government, the European Union, or other
export control authority with jurisdiction over any Loan Party, or any subsidiary or joint venture thereof, including, without
limitation, the Export Administration Regulations, the International Traffic in Arms Regulations, and the European Union Dual Use
Regulation (Council Regulation EC 428/2009 (as amended)).


 


“Extended
Revolving Commitments”: one or more Classes of extended Revolving Commitments that result from a Permitted Amendment.


 


“Extended
Revolving Loans”: the Revolving Loans made pursuant to any Extended Revolving Commitment or otherwise extended pursuant
to a Permitted Amendment.


 


“Extended
Term Commitments”: one or more Classes of extended Term Commitments hereunder that result from a Permitted Amendment.


 


“Extended
Term Loans”: one or more classes of extended Term Loans that result from a Permitted Amendment.


 


“Facility”:
(a) any Term Facility and (b) any Revolving Facility, as the context may require.


 


“Fair Market
Value”: with respect to any Investment, asset, property or transaction, the price which could be negotiated in an arm’s
length, free market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue
pressure or compulsion to complete the transaction (as determined in good faith by the Borrower Representative).


 


“FATCA”: as defined in
Section 2.19(a).


 






    38


     


    

 


“Federal Funds
Rate”: for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions,
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 charged to Bank of America, N.A. on such day on such
transactions as determined by the Administrative Agent.


 


“Fee Letter”:
the Fee Letter dated October 20, 2019 by and among Clarivate Analytics plc, the Joint Lead Arrangers and the other parties
thereto, as amended, restated, modified or supplemented from time to time in accordance with the terms thereof.


 


“Fee Payment
Date”: (a) the last Business Day of each March, June, September and December (commencing on December 31,
2019), (b) the Revolving Termination Date and (c) the date the Total Revolving Commitments are reduced to zero.


 


“Financial
Compliance Date”: any date on which the aggregate Outstanding Amount of all Revolving Loans, Swingline Loans and undrawn
L/C Obligations (excluding (i) non-Collateralized, issued and undrawn L/C Obligations in an amount up to $20,000,000 and (ii) Collateralized
Letters of Credit) of the Revolving Borrowers exceeds 35% of the Revolving Commitments as of such date.


 


“Financial
Covenant Event of Default”: as defined in Section 9.3(b).


 


“First Lien
Net Leverage Ratio”: as of any date of determination for the most recently ended Reference Period or the Reference Period
otherwise specified herein, the ratio of (a) Consolidated First Lien Indebtedness on such day, to (b) Consolidated EBITDA,
in each case of UK Holdco and its Restricted Subsidiaries, calculated on a Pro Forma Basis for such period.


 


“First Priority Refinancing Revolving
Facility”: as defined in the definition of “Permitted First Priority Refinancing Debt.”


 


“First Priority
Refinancing Term Facility”: as defined in the definition of “Permitted First Priority Refinancing Debt.”


 


“Fixed Amount”:
as defined in Section 1.9(b).


 


“Fixed Charges”:
with respect to UK Holdco and the Restricted Subsidiaries for any period, the sum of:


 


(1)            Consolidated
Interest Expense of UK Holdco and its Restricted Subsidiaries for such period; and


 


(2)            all
cash dividend payments (excluding items eliminated in consolidation) on any series of Preferred Stock or Disqualified Stock of
UK Holdco and the Restricted Subsidiaries;


 


provided, however, that,
notwithstanding the foregoing, any charges arising from (i) the application of Accounting Standards Codification Topic 480-10-25-4
 “Distinguishing Liabilities from Equity—Overall—Recognition” to any series of Preferred Stock other than
Disqualified Stock or (ii) the application of Accounting Standards Codification Topic 470-20 “Debt—Debt with Conversion
Options—Recognition,” in each case, shall be disregarded in the calculation of Fixed Charges.


 






    39


     


    

 



 


“Foreign Plan”:
any pension plan, benefit plan, fund or other similar program established, maintained or contributed to by a Loan Party or any
Subsidiary of a Loan Party primarily for the benefit of individuals residing outside the United States (other than plans, funds
or similar programs that are maintained exclusively by a Governmental Authority), and which is required to be funded through a
trust or other funding vehicle and is not subject to ERISA or the Code.


 


“Foreign Benefit
Plan Event”: with respect to any Foreign Plan, (a) the existence of unfunded liabilities in excess of the amount
permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority,
(b) the failure to make the required contributions or payments, under any applicable law or the terms of the Foreign Plan,
on or before the due date for such contributions or payments, (c) the receipt of a notice by a Governmental Authority relating
to the intention to terminate any such Foreign Plan or to appoint a trustee or similar official to administer any such Foreign
Plan, (d) the incurrence of any liability by a Loan Party or any of Subsidiary of a Loan Party on account of the complete
or partial termination of such Foreign Plan or the complete or partial withdrawal of any participating employer therein, (e) the
occurrence of any transaction that could result in a Loan Party or any Subsidiary of a Loan Party incurring, or the imposition
on a Loan Party or any Subsidiary of a Loan Party of, any fine, excise tax or penalty resulting from any noncompliance with applicable
law or (f) any other event or condition with respect to a Foreign Plan that could result in liability of a Loan Party or any
Subsidiary of a Loan Party.


 


“Foreign Guarantor
Provisions”: the Foreign Guarantor Provisions set forth on Schedule 1.8.


 


“Foreign Loan
Party”: any Loan Party that is not a US Loan Party.


 


“Foreign Subsidiary”:
any Subsidiary of Holdings that is not a US Subsidiary.


 


“Forms”:
as defined in Section 2.19(j).


 


“FRB”:
the Board of Governors of the Federal Reserve System of the United States.


 


“FSHCO”:
any Subsidiary of Holdings, substantially all the assets of which consist of Equity Interests of one or more CFCs or other FSHCOs.


 


“Funded Debt”:
as to any Person, all Indebtedness described in clauses (1)(a), (1)(b) (excluding, for the avoidance of doubt, surety bonds,
performance bonds and similar instruments) and (1)(d) of the definition of “Indebtedness” of such Person that
matures more than one year from the date of its creation or matures within one year from such date but is renewable or extendible,
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 all current
maturities and current sinking fund payments in respect of such Indebtedness whether or not required to be paid within one year
from the date of its creation and, in the case of the Borrowers, Indebtedness in respect of the Loans.


 


“Funding Default”:
as defined in Section 2.17(d).


 


“Future Guarantor”:
as defined in Section 8.12(g).


 






    40


     


    

 


“GAAP”:
generally accepted accounting principles in the United States of America that are in effect from time to time; provided,
that GAAP shall be construed, and all computations of amounts and ratios referred to in this Agreement shall be made, in accordance
with the interpretive provisions set forth in Section 1 of this Agreement; provided, further, that (A) if
any change in GAAP or in the application thereof or any change as a result of the adoption or modification of accounting policies
(including the conversion to IFRS as described below or any change in the methodology of calculating reserves for returns, rebates
and other chargebacks) is implemented or takes effect after the date of delivery of any financial statements required to be delivered
under this Agreement and/or there is any change in the functional currency reflected in such financial statements or (B) if
UK Holdco or its applicable direct or indirect parent company elects or is required to report under IFRS, UK Holdco or the Required
Lenders may request by written notice to the Administrative Agent to amend the relevant affected provisions of this Agreement to
eliminate the effect of such change in accounting principles or change as a result of the adoption or modification of accounting
policies occurring after the Closing Date in GAAP or IFRS, as applicable, or in the application thereof on the operation of such
provision, regardless of whether any such notice is given before or after such change in GAAP or IFRS, as applicable, or in the
application thereof, and in such case, (x) the Borrower Representative and the Administrative Agent shall negotiate in good
faith to enter into an amendment of the relevant affected provisions (it being understood that no amendment or similar fee shall
be payable to the Administrative Agent or any Lender in connection therewith) to preserve the original intent thereof in light
of the applicable change or election, as the case may be and (y) such provision shall be interpreted on the basis of GAAP
or IFRS, as applicable, 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 with this definition. Any consent required from the Administrative
Agent with respect to the foregoing shall not be unreasonably withheld, conditioned or delayed. At any time after the Closing Date,
the Borrower Representative or its applicable direct or indirect parent company may elect to apply IFRS accounting principles in
lieu of GAAP, or vice versa, and upon such election, references herein to GAAP shall thereafter be construed to mean IFRS, or vice
versa, as applicable (except as otherwise provided in this Agreement); provided, that any calculation or determination in this
Agreement that requires the application of GAAP for periods that include fiscal quarters ended prior to the application of IFRS
will remain as previously calculated or determined in accordance with GAAP and vice versa. For the avoidance of doubt, solely making
an election (without any other action) referred to in this definition will not (1) be treated as an Incurrence of Indebtedness
or (2) have the effect of rendering impermissible any payment, Investment or other action made prior to the date of such
election pursuant to Section 7.3 or any Incurrence of Indebtedness prior to the date of such election pursuant to Section 7.2
if such payment, Investment, Incurrence or other action was permitted under this Agreement on the date made, incurred
or taken, as the case may be.


 


“German Borrower”:
an Additional Revolving Borrower resident for tax purposes in Germany.


 


“German Collateral”:
as defined in Section 10.1(c).


 


“German GmbH &
Co. KG Guarantor”: as defined in Section 8.12(d).


 


“German GmbH
Guarantor”: as defined in Section 8.12(d).


 


“German Guarantor”:
as defined in Section 8.12(d).


 


“German Qualifying
Lender”: a Lender which is beneficially entitled to interest payable to that Lender in respect of any amounts hereunder
and is:


 


(a)            resident
for tax purposes in Germany;


 


(b)            lending
through a Facility Office in Germany to which the relevant interest payment is effectively attributable for tax purposes; or


 


(c)            a
German Treaty Lender.


 






    41


     


    

 


“German Treaty”:
as defined in the definition of “German Treaty State”.


 


“German Treaty
Lender”: a Lender which (a) is treated as a resident of a German Treaty State for the purposes of the German Treaty
and (b) does not carry on a business in Germany through a permanent establishment with which that Lender’s participation
in the Loan is effectively connected.


 


“German Treaty
State”: a jurisdiction having a double taxation agreement with Germany (a “German Treaty”) which makes
provision for full exemption from tax imposed by Germany on interest.


 


“Global Intercompany
Note”: a note in such form as may be reasonably agreed between the Borrower Representative and the Administrative Agent.


 


“Governmental
Approval”: any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration,
filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority.


 


“Governmental
Authority”: any nation, or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality,
regulatory body, court, central bank, administrative tribunal or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies exercising
such powers or functions, such as the European Union or the European Central Bank) and any group or body charged with setting financial
accounting or regulatory capital rules or standards (including, without limitation, the Financial Accounting Standards Board,
the Bank for International Settlements or the Basel Committee on Banking Supervision or any successor or similar authority to any
of the foregoing).


 


“Group Member”:
the collective reference to Holdings, the Borrowers and UK Holdco and its Restricted Subsidiaries.


 


“guarantee”:
as to any Person, a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business),
direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any
part of any Indebtedness of another Person.


 


“Guarantee”:
as defined in Section 8.2.


 


“Guarantee
Obligation”: as to any Person (the “guaranteeing person”), any obligation (including obligations arising
by way of parallel debt), including a reimbursement, counterindemnity or similar obligation, of the guaranteeing person that guarantees
or in effect guarantees, or which is given to induce the creation of a separate obligation by another Person (including any bank
under any letter of credit) that guarantees or in effect guarantees, any Indebtedness (the “primary obligations”)
of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including any
obligation of the guaranteeing person, whether or not contingent, (a) to purchase any such primary obligation or any property
constituting direct or indirect security therefor, (b) to advance or supply funds (i) for the purchase or payment of
any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain
the net worth or solvency of the primary obligor, (c) to purchase property, securities or services primarily for the purpose
of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation
or (d) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided,
however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the
ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower
of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation
is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument
embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may
be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s
maximum reasonably anticipated liability in respect thereof as determined by the Borrower Representative in good faith.


 






    42


     


    

 


“Guaranteed
Loan Party”: as defined in Section 8.12(d).


 


“Guaranteed
Obligations”: as defined in Section 8.1(b).


 


“Guarantor
Joinder Agreement”: an agreement substantially in the form of Exhibit G or in such other form reasonably
approved by the Administrative Agent.


 


“Guarantors”:
the collective reference to Holdings, the Borrowers (other than with respect to a Borrower’s own obligations or obligations
with respect to which it is jointly and severally liable) and the Subsidiary Guarantors (in each case, except to the extent released
in accordance with this Agreement).


 


“Hedging Obligations”:
with respect to any Person, the obligations of such Person under Swap Agreements.


 


“Holding Company”:
in relation to a company or corporation, any other company or corporation in respect of which it is a Subsidiary.


 


“Holdings”:
as defined in the preamble hereto.


 


“Honor Date”:
as defined in Section 3.5.


 


“IFRS”:
International Financial Reporting Standards (formerly International Accounting Standards) as issued by the International Accounting
Standards Board and its predecessor as in effect from time to time.


 


“Immaterial
Subsidiary”: each Subsidiary which, as of the most recently ended Reference Period, contributed five percent (5%) or
less of Consolidated EBITDA for such period; provided that, if at any time the aggregate amount of EBITDA attributable to
all Subsidiaries that are Immaterial Subsidiaries exceeds ten percent (10%) of Consolidated EBITDA for any such period, the Borrower
Representative (or, in the event the Borrower Representative has failed to do so within 30 days, the Administrative Agent) shall
designate sufficient Subsidiaries to eliminate such excess, and such designated Subsidiaries shall no longer constitute Immaterial
Subsidiaries under this Agreement.


 


“Incremental
Amendment”: as defined in Section 2.25(c).


 


“Incremental
Arranger”: as defined in Section 2.25(a).


 


“Incremental
Equivalent Debt”: as defined in Section 7.2(b)(vi).


 


“Incremental
Facility”: any Class of Incremental Term Commitments or Revolving Commitment Increases and the extensions of credit
made thereunder, as the context may require.


 


“Incremental
Facility Closing Date”: as defined in Section 2.25(c).


 






    43


     


    

 


“Incremental
Lender”: an Incremental Term Lender or Incremental Revolving Lender, as the context may require.


 


“Incremental
Loan”: any Class of Incremental Term Loans or Incremental Revolving Loans, as the context may require.


 


“Incremental
Revolving Lender”: as defined in Section 2.25(a).


 


“Incremental
Revolving Loans”: as defined in Section 2.25(a).


 


“Incremental
Term Commitments”: as defined in Section 2.25(a).


 


“Incremental
Term Lender”: as defined in Section 2.25(a).


 


“Incremental
Term Loan Maturity Date”: the date on which an Incremental Term Loan matures as set forth in the Incremental Amendment
relating to such Incremental Term Loan.


 


“Incremental
Term Loans”: as defined in Section 2.25(a).


 


“Incremental
Term Percentage”: as to any Incremental Term Lender at any time, the percentage which such Lender’s Incremental
Term Commitments then constitutes of the aggregate Incremental Term Commitments then outstanding.


 


“Incremental
Yield Differential”: as defined in Section 2.25(a)(vii).


 


“Incur”:
with respect to any Indebtedness, issue, assume, guarantee, incur or otherwise become liable for; provided, however,
that any Indebtedness or Capital Stock of a Person existing at the time such person becomes a Subsidiary (whether by merger, consolidation,
acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary.


 


“Incurrence-Based
Amount”: as defined in Section 1.9(b).


 


“Indebtedness”:
with respect to any Person:


 


(a)            the
principal and premium (if any) of any Indebtedness of such Person, whether or not contingent, (i) in respect of borrowed money,
(ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or,
without duplication, reimbursement agreements in respect thereof), (iii) representing the deferred and unpaid purchase price
of any property, asset or business, except (x) any such balance that constitutes a trade payable, accrued expense or similar
obligation to a trade creditor and (y) any acquisition earn-out obligations, (iv) in respect of Capitalized Lease Obligations
or (v) representing any Hedging Obligations, other than Hedging Obligations that are incurred in the normal course of business
and not for speculative purposes, and that do not increase the Indebtedness of the obligor outstanding at any time other than as
a result of fluctuations in interest rates, commodity prices or foreign currency exchange rates or by reason of fees, indemnities
and compensation payable thereunder, if and to the extent that any of the foregoing Indebtedness (other than letters of credit
and Hedging Obligations) would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared
in accordance with GAAP, provided that Indebtedness of any direct or indirect parent of UK Holdco appearing upon the balance
sheet of UK Holdco solely by reason of push-down accounting under GAAP shall be excluded;


 






    44


     


    

 


(b)            to
the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as obligor, guarantor or otherwise,
the obligations described in clause (a) of another Person (other than by endorsement of negotiable instruments for collection
in the ordinary course of business); and


 


(c)            to
the extent not otherwise included, obligations described in clause (a) of another Person secured by a Lien on any asset owned
by such Person (whether or not such Indebtedness is assumed by such Person); provided, however, that the amount of
such Indebtedness will be the lesser of (i) the Fair Market Value of such asset at such date of determination, and (ii) the
amount of such Indebtedness of such other Person;


 


provided that (a) Contingent
Obligations incurred in the ordinary course of business, (b) obligations under or in respect of Receivables Financings, (c) Other
Obligations associated with other post-employment benefits and pension plans, (d) any operating leases as such an instrument
would be determined in accordance with GAAP prior to the issuance of the ASU, (e) in connection with the purchase by UK Holdco
or any Restricted Subsidiary of any business, post-closing payment adjustments to which the seller may be entitled to the extent
such payment is determined by a final closing balance sheet or such payment depends on the performance of such business after the
closing until 30 days after any such obligation becomes contractually due and payable, (f) deferred or prepaid revenues, (g) any
Capital Stock (other than Disqualified Stock), (h) purchase price holdbacks in respect of a portion of the purchase price
of an asset to satisfy warranty or other unperformed obligations of the respective seller, and (i) premiums payable to, and
advance commissions or claims payments from, insurance companies, shall not constitute Indebtedness.


 


“Indemnitee”:
as defined in Section 11.5.


 


“Indemnified
Liabilities”: as defined in Section 11.5.


 


“Independent
Financial Advisor”: an accounting, appraisal or investment banking firm or consultant, in each case of nationally recognized
standing that is, in the good faith determination of Holdings or its direct or indirect parent, qualified to perform the task for
which it has been engaged.


 


“Initial Intercreditor
Agreement”: the Intercreditor Agreement, dated as of the Closing Date, among Holdings, UK Holdco, the other Borrowers
and the other Guarantors party thereto, Bank of America, N.A., as Credit Agreement Collateral Agent (as defined therein) for the
Credit Agreement Secured Parties referred to therein, Wilmington Trust, National Association, as Initial Notes Collateral Agent
(as defined therein) for the Notes Secured Parties referred to therein, and each additional Authorized Representative (as defined
therein) from time to time party thereto for the Additional First Lien Secured Parties (as defined therein).


 


“Initial Term
Loan”: a Loan made pursuant to Section 2.1(b) on the Closing Date.


 


“Inside Maturity
Basket”: Incremental Term Loans, Incremental Equivalent Debt, Permitted Credit Agreement Refinancing Debt, Refinancing
Indebtedness or other Indebtedness in an aggregate principal amount outstanding not exceeding the greater of $250,000,000 and 75%
of Consolidated EBITDA as of the most recently ended Reference Period (as selected by the Borrower Representative).


 


“Insolvency”:
with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.


 


“Insolvent”:
pertaining to a condition of Insolvency.


 






    45


     


    

 


“Intellectual
Property Security Agreements”: collectively, the US Intellectual Property Security Agreements and each other intellectual
property security agreement or intellectual property security agreement supplement executed and delivered pursuant to Section 6.9,
Section 6.11 or Schedule 1.1C (as such schedule may be amended or supplemented from time to time in accordance
with the Agreed Security Principles), in each case as amended, restated, supplemented, replaced or otherwise modified from time
to time in accordance with its terms.


 


“Intercreditor
Agreements”: the Initial Intercreditor Agreement and/or any Acceptable Intercreditor Agreement entered into after the
Closing Date, as the context may require or permit.


 


“Interest
Coverage Ratio”: as of any date of determination for the most recently ended Reference Period or the Reference Period
otherwise specified herein, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Cash Interest Expense
for such period. Unless otherwise specified herein, “Interest Coverage Ratio” shall be a reference to the Interest
Coverage Ratio for the most recently ended Reference Period.


 


“Interest
Payment Date”: (a) as to any ABR Loan (including any Swingline Loan), the last Business Day of each March, June,
September and December (commencing on December 31, 2019) and the final maturity date of such Loan, (b) as to
any Eurocurrency Loan having an Interest Period of three months or less, the last day of such Interest Period, (c) as to any
Eurocurrency Loan having an Interest Period longer than three months, each day that is three months, or a whole multiple thereof,
after the first day of such Interest Period and the last day of such Interest Period, (d) as to any Eurocurrency Loan (except
in the case of the repayment or prepayment of all Loans or, as to any Revolving Loan, the Revolving Termination Date or such earlier
date on which the Revolving Commitments are terminated), the date of any repayment or prepayment made in respect thereof and (e) as
to any Swingline Loan, the last Business Day of each March, June, September and December (commencing on December 31,
2019), and the Revolving Termination Date.


 


“Interest
Period”: as to any Eurocurrency Loan, the period commencing on the borrowing, continuation or conversion date, as the
case may be, with respect to such Eurocurrency Loan and ending (i) one, two, three or six (in each case, subject to availability)
months thereafter or (ii) if approved by all Lenders under the relevant Facility, twelve months thereafter, one week thereafter
or such other period as all relevant Lenders shall agree, in each case as selected by the Borrower Representative in its irrevocable
notice of borrowing, continuation or conversion, substantially in the form of Exhibit H, or such other form as 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), appropriately completed and signed by a Responsible Officer of the Borrower Representative;
provided that all of the foregoing provisions relating to Interest Periods are subject to the following:


 


(i)            if
any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next
succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month
in which event such Interest Period shall end on the immediately preceding Business Day;


 


(ii)            the
Borrower Representative may not select an Interest Period under any Revolving Facility that would extend beyond the Revolving Termination
Date and the Borrowers (with respect to the Term Loans other than the Incremental Term Loans) and the Borrowers (with respect to
the Incremental Term Loans) may not select an Interest Period under the Term Facility beyond the date final payment is due on the
Term Loans;


 






    46


     


    

 


(iii)            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 a calendar month;


 


(iv)            if
the Borrower Representative shall fail to specify the Interest Period in any notice of borrowing of, conversion to, or continuation
of, Eurocurrency Loans, the Borrower Representative shall be deemed to have selected an Interest Period of one month; and


 


(v)            the
Borrower Representative shall be permitted to select an Interest Period of one week on no more than ten (10) instances per
annum.


 


“Investment
Grade Rating”: a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent)
by S&P, or an equivalent rating by any other Rating Agency.


 


“Investment
Grade Securities”:


 


(1)            securities
issued or directly and fully guaranteed or insured by the government or any agency or instrumentality thereof (other than Cash
Equivalents) of the U.S., Canada, any country that is a member of the European Union, the United Kingdom, Japan or Switzerland;


 


(2)            securities
that have an Investment Grade Rating;


 


(3)            investments
in any fund that invests at least 95% of its assets in investments of the type described in clauses (1) and (2) which
fund may also hold immaterial amounts of cash pending investment and/or distribution; and


 


(4)            corresponding
instruments in countries other than the United States customarily utilized for high quality investments.


 


“Investments”:
with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including
guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances or extensions of credit
to customers and vendors and commission, travel and similar advances to officers, directors, employees and consultants made in
the ordinary course of business) and purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other
securities issued by any other Person. For purposes of the definition of “Unrestricted Subsidiary” and Section 7.3:


 


(1)            “Investments”
shall include the portion (proportionate to UK Holdco’s direct or indirect equity interest in such Subsidiary) of the Fair
Market Value of the net assets of a Subsidiary of UK Holdco at the time that such Subsidiary is designated an Unrestricted Subsidiary;
provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, UK Holdco shall be deemed
to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal to an amount (if positive) equal to:


 


(a)            UK
Holdco’s direct or indirect “Investment” in such Subsidiary at the time of such redesignation less


 


(b)            the
portion (proportionate to UK Holdco’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of such
Subsidiary at the time of such redesignation;


 






    47


     


    

 


(2)            any
property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer,
in each case as determined in good faith by the Borrower Representative; and


 


(3)            the
amount of any Investment shall be the original cost of such Investment, plus the cost of any addition thereto that otherwise constitutes
an Investment, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect
thereto, but giving effect to any repayments of principal in the case of any Investment in the form of a loan and any return of
capital or return on Investment in the case of any equity Investment (whether as a distribution, dividend, redemption or sale).


 


For the avoidance of
doubt, a guarantee by UK Holdco or a Restricted Subsidiary of the obligations of another Person (the “primary obligor”)
shall not be deemed to be an Investment by UK Holdco or such Restricted Subsidiary in the primary obligor to the extent that such
obligations of the primary obligor are in favor of UK Holdco or any Restricted Subsidiary, and in no event shall (x) a guarantee
of an operating lease or other business contract of UK Holdco or any Restricted Subsidiary or (y) intercompany indebtedness
among UK Holdco and the Restricted Subsidiaries made in the ordinary course of business and having a term not exceeding 364 days
be deemed an Investment.


 


“IRS”:
as defined in Section 11.6(c)(i).


 


“Issuer Documents”:
with respect to any Letter of Credit, the application form, and any other document, agreement and instrument entered into by any
Issuing Lender and a Borrower (or any Subsidiary) or in favor of such Issuing Lender and relating to such Letter of Credit.


 


“Issuing Lender”:
(i) each Revolving Lender as of the Closing Date or in each case any of their respective affiliates, each in its capacity
as issuer of any Letter of Credit and (ii) such other Revolving Lenders or Affiliates of Revolving Lenders that are reasonably
acceptable to the Administrative Agent and the Borrower Representative that agrees pursuant to an agreement with and in form and
substance reasonably satisfactory to the Administrative Agent and the Borrower Representative, to be bound by the terms hereof
applicable to such Issuing Lender.


 


“ITA 2007”
means the United Kingdom Income Tax Act 2007.


 


“Joint Bookrunners”:
collectively, the Joint Bookrunners listed on the cover page hereof.


 


“Joint Lead
Arrangers”: collectively, the Joint Lead Arrangers listed on the cover page hereof.


 


“Junior Indebtedness”:
third party Subordinated Indebtedness for borrowed money of UK Holdco or any of its Restricted Subsidiaries that is a Loan Party
in an aggregate outstanding principal amount exceeding the greater of $125,000,000 and 39% of Consolidated EBITDA as of the most
recently ended Reference Period.


 


“Latest Maturity
Date”: at any date of determination, the latest maturity or expiration date applicable to any Loan or Commitment hereunder
at such time, including the latest maturity or expiration date of any Incremental Term Loans, Other Term Loan, any Other Term Commitment,
any Other Revolving Loan or any Other Revolving Commitment.


 


“Laws”:
collectively, all international, foreign, federal, state and local 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, in each case whether
or not having the force of law.


 






    48


     


    

 


“LCT Election”:
as defined in Section 1.4.


 


“LCT Test
Date”: as defined in Section 1.4.


 


“L/C Advance”:
with respect to each L/C Participant, such L/C Participant’s funding of its participation in any Letter of Credit in accordance
with Section 3.4(a).


 


“L/C Borrowing”:
an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made
or Refinanced as a Revolving Borrowing.


 


“L/C Commitment”:
$40,000,000.


 


“L/C Credit
Extension”: with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the
renewal or increase of the amount thereof.


 


“L/C Obligations”:
at any time, an amount equal to the sum of (a) the aggregate then undrawn and unexpired amount of the then outstanding Letters
of Credit and (b) the aggregate amount of drawings under Letters of Credit that have not then been reimbursed pursuant to
Section 3.5. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such
Letter of Credit shall be determined in accordance with Section 3.9 and, if on any date of determination a Letter of
Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the
ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.


 


“L/C Participants”:
the collective reference to all the Revolving Lenders other than each Issuing Lender.


 


“L/C Sublimit”:
with respect to any Issuing Lender, (i) the amount set forth opposite the name of such Issuing Lender on Schedule 1.1A-2
or (ii) such other amount specified in the agreement by which such Issuing Lender becomes an Issuing Lender hereunder.


 


“Legal Reservations”:


 


(1)            the
principle that enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings
in equity or at law);


 


(2)            the
time barring of claims under any applicable law (including the Limitation Acts) of any Relevant Jurisdiction, the possibility that
an undertaking to assume liability for or indemnify a person against non-payment of stamp duty may be void and defenses of set-off
or counterclaim;


 


(3)            the
principle that in certain circumstances Liens granted by way of fixed charge may be re-characterized as a floating charge or that
Liens purported to be constituted as an assignment may be re-characterized as a charge;


 


(4)            the
principle that additional interest imposed pursuant to any relevant agreement may be held to be unenforceable on the grounds that
it is a penalty and therefore void;


 






    49


     


    

 


(5)            the
principle that a court may not give effect to an indemnity for legal costs incurred by an unsuccessful litigant;


 


(6)            the
principle that the creation or purported creation of a Lien over any contract or agreement which is subject to a prohibition on
transfer, assignment or charging may be void, ineffective or invalid and may give rise to a breach of the contract or agreement
over which a Lien has purportedly been created;


 


(7)            similar
principles, rights and defenses under the laws of any Relevant Jurisdiction; and


 


(8)            any
other matters which are set out as qualifications or reservations as to matters of law of general application in the legal opinions
delivered pursuant to this Agreement.


 


“Lenders”:
as defined in the preamble hereto; provided that, unless the context otherwise requires, each reference herein to the Lenders
shall be deemed to include the Issuing Lenders.


 


“Letter of
Credit Expiration Date”: the day that is three Business Days prior to the scheduled Revolving Termination Date (or, if
such day is not a Business Day, the immediately preceding Business Day).


 


“Letters of
Credit”: as defined in Section 3.1(a).


 


“LIBOR”:
as set forth in Eurocurrency Rate.


 


“LIBOR Quoted Currency”:
each of the following currencies: Dollars, Euro, Sterling, Yen, and Swiss Franc, in each case as long as there is a published LIBOR
rate with respect thereto.


 


“LIBOR Screen
Rate”: 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 in consultation
with the Borrower Representative from time to time).


 


“LIBOR Successor
Rate”: as specified in Section 2.16(b).


 


“LIBOR Successor
Rate Conforming Changes”: with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition
of ABR, Interest Period, timing and frequency of determining rates and making payments of interest and other technical, administrative
or operational matters as may be appropriate, in the discretion of the Administrative Agent (in consultation with the Borrower
Representative), 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 (in consultation with the
Borrower Representative) determine is reasonably necessary in connection with the administration of this Agreement).


 


“Lien”:
any mortgage, deed of trust, pledge, hypothecation, collateral assignment, deposit arrangement, encumbrance, lien (statutory or
other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of
any kind or nature whatsoever (including any conditional sale or other title retention agreement and any capital lease having substantially
the same economic effect as any of the foregoing).


 






    50


     


    

 


“Limitation
Acts” means the Limitation Act 1980 and the Foreign Limitation Periods Act 1984, in each case of England and the Prescription
and Limitation (Scotland) Act 1973 of Scotland.


 


“Limited Condition
Transaction”: any transaction, any acquisition or other Investment permitted hereunder (including by way of merger, amalgamation
or consolidation), any assumption or incurrence of Indebtedness or issuance of Preferred Stock or Disqualified Stock, any Asset
Sale or any Restricted Payment, by UK Holdco or one or more of the Restricted Subsidiaries.


 


“Loan”:
any loan made or maintained by any Lender pursuant to this Agreement.


 


“Loan Documents”:
this Agreement, any Intercreditor Agreement, the Notes, the Security Documents, any Refinancing Amendment, any Incremental Amendment,
any Loan Modification Agreement, any Borrower Joinder and any other document designated as a “Loan Document” by the
Administrative Agent and the Borrower Representative from time to time.


 


“Loan Modification
Agent”: as defined in Section 2.28(a).


 


“Loan Modification
Agreement”: as defined in Section 2.28(b).


 


“Loan Modification
Offer”: as defined in Section 2.28(a).


 


“Loan Note
Instrument (Notes)”: the Loan Note Instrument constituting $700,000,000 Principal Amount Floating Rate Unsecured Loan
Notes Due 2026 dated as of the Closing Date, issued by UK Holdco, as amended, novated,
supplemented, restated, extended, amended and restated or otherwise modified from time to time.


 


“Loan Note
Instrument (Term Loans)”: the Loan Note Instrument constituting up to $900,000,000
Principal Amount Floating Rate Unsecured Loan Notes Due 2026 (with an initial issuance on the Closing Date in a principal amount
of $493,000,000) dated as of the Closing Date, issued by UK Holdco, as amended, novated, supplemented, restated, extended, amended
and restated or otherwise modified from time to time.


 


“Loan Note
Instruments”: the collective reference to the Loan Note Instrument (Notes) and the Loan Note Instrument (Term Loans).


 


“Loan Parties”:
the collective reference to the Borrowers and the Guarantors.


 


“London Banking
Day”: any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank market.


 


“Lux Borrower”:
as defined in the recitals hereto.


 


“Luxembourg
Borrower”: any Borrower whose registered office/place of central administration is in Luxembourg and whose centre of
main interests (as that term is used in Article 3(1) of Regulation (EU) 2015/848 of the European Parliament and of the
Council of 20 May 2015 on insolvency proceedings (recast)) is in Luxembourg.


 


“Luxembourg
Exempt Lender”: in relation to a Luxembourg Borrower, a Lender which is (otherwise than by reason of being a Luxembourg
Treaty Lender) able to receive interest from that Borrower without a deduction or withholding for, or on account of, Tax imposed
by Luxembourg.


 






    51


     


    

 


“Luxembourg
Guarantor”: any Guarantor whose registered office/place of central administration is in Luxembourg and whose centre of
main interests (as that term is used in Article 3(1) of Regulation (EU) 2015/848 of the European Parliament and of the
Council of 20 May 2015 on insolvency proceedings (recast)) is in Luxembourg.


 


“Luxembourg
Loan Party”: any Loan Party whose registered office/place of central administration is in Luxembourg and whose centre
of main interests (as that term is used in Article 3(1) of Regulation (EU) 2015/848 of the European Parliament and of
the Council of 20 May 2015 on insolvency proceedings (recast)) is in Luxembourg.


 


“Luxembourg
Qualifying Lender”: in respect of amounts payable by any Luxembourg Borrower, a Lender which is beneficially entitled
to interest payable to that Lender in respect of a Loan or Letter of Credit and is (i) lending through (A) an entity
tax resident in Luxembourg, or (B) a permanent establishment in Luxembourg to which the relevant interest payment is effectively
attributable for tax purposes, (ii) a Luxembourg Exempt Lender or (iii) a Luxembourg Treaty Lender.


 


“Luxembourg
Treaty”: as defined in the definition of “Luxembourg Treaty State”.


 


“Luxembourg
Treaty Lender”: a Lender which (i) is treated as a resident of a Luxembourg Treaty State for the purposes of the
Luxembourg Treaty, (ii) does not carry on a business in Luxembourg through a permanent establishment with which that Lender's
participation in the Loan or Letter of Credit is effectively connected and (iii) fulfils any other conditions which must be
fulfilled under the relevant Luxembourg Treaty and the laws of Luxembourg to obtain exemption from taxation imposed by Luxembourg
on interest.


 


“Luxembourg
Treaty State”: a jurisdiction having a double taxation agreement with Luxembourg which makes provision for full exemption
from tax imposed by Luxembourg on interest (a “Luxembourg Treaty”).


 


“Majority
Facility Lenders”: (a) with respect to any Revolving Facility, the Majority Revolving Lenders with respect to such
Revolving Facility and (b) with respect to any Term Facility, the Majority Term Lenders with respect to such Term Facility.


 


“Majority
Revolving Lenders”: at any time with respect to any Revolving Facility, (i) prior to the termination of all Revolving
Commitments with respect to such Revolving Facility, non-Defaulting Lenders holding more than 50% of the Total Revolving Commitments
and (ii) after the termination of all the Revolving Commitments with respect to such Revolving Facility, non-Defaulting Lenders
holding more than 50% of the Total Revolving Extensions of Credit with respect to such Revolving Facility.


 


“Majority
Term Lenders”: at any time with respect to any Term Facility, Term Lenders that are non-Defaulting Lenders having Term
Loans and unused and outstanding Term Commitments with respect to such Term Facility representing more than 50% of the sum of all
Term Loans outstanding and unused and outstanding Term Commitments with respect to such Term Facility at such time.


 


“Management
Agreement”: one or more management services or consulting services agreements, entered into prior to the Closing Date
between UK Holdco or any direct or indirect parent company or any Restricted Subsidiary and the Sponsors and any other beneficial
owner in the equity in the Borrower Representative or any direct or indirect parent company of the Borrower Representative.


 


“Management
Determination”: as defined in Section 8.12(d).


 






    52


     


    

 


“Management
Investor”: any Person who is a director, officer or otherwise a member of management of UK Holdco, any of its Restricted
Subsidiaries or any of UK Holdco’s direct or indirect parent companies on the Closing Date.


 


“Margin Stock”:
as set forth in Regulation U of the Board of Governors of the United States Federal Reserve System, or any successor thereto.


 


“Market Capitalization”:
on any date of determination, an amount equal to (a) the total number of then issued and outstanding shares of common Capital
Stock of Holdings or its applicable direct or indirect parent entity multiplied by (b) the arithmetic mean of the closing
prices per share of such common shares of Capital Stock on the principal securities exchange on which such common Capital Stock
are traded for the 30 consecutive trading days immediately preceding such date.


 


“Market Intercreditor
Agreement”: as defined in the definition of “Acceptable Intercreditor Agreement.”


 


“Master Agreement”:
as defined in the definition of “Qualified Counterparty.”


 


“Material
Adverse Effect”: a material adverse effect on (a) the business, assets, liabilities, operations, financial condition
or operating results of UK Holdco and the Restricted Subsidiaries taken as a whole, (b) the ability of the Loan Parties (taken
as a whole) to perform their payment obligations under the Loan Documents or (c) the material rights, remedies and benefits
available to, or conferred upon, the Administrative Agent, any Lender or any Secured Party hereunder or under any other Loan Document
(taken as a whole).


 


“Material
Restricted Subsidiary”: at any date, a Restricted Subsidiary which is a Material Subsidiary.


 


“Material
Subsidiary”: at any date, a Subsidiary which is not an Immaterial Subsidiary.


 


“Materials
of Environmental Concern”: any chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, any
petroleum or petroleum products, asbestos, polychlorinated biphenyls, lead or lead-based paints or materials, radon, toxic molds
or fungus, and urea-formaldehyde insulation, in each case, that are regulated pursuant to Environmental Law.


 


“Maximum Amount”:
as defined in Section 11.20(a).


 


“MFN Provision”:
as defined in Section 2.25(a)(iv).


 


“Minimum Extension
Condition”: as defined in Section 2.28(c).


 


“Moody’s”:
Moody’s Investors Service, Inc., or any successor to the rating agency business thereof.


 


“Multiemployer
Plan”: a Plan that is a multiemployer plan as defined in Section 4001(a)(3) of ERISA.


 


“Net Assets”:
as defined in Section 8.12(d).


 






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“Net Cash
Proceeds”: (a) in connection with any Asset Sale, any Recovery Event or any other sale of assets, the proceeds thereof
actually received in the form of cash and Cash Equivalents (including any such proceeds received by way of deferred payment of
principal pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise, but only as and when
received), net of (i) attorneys’ fees, accountants’ fees, investment banking fees, and other bona fide fees, costs
and expenses actually incurred in connection therewith, (ii) amounts required to be applied to the repayment of Indebtedness
secured by a Lien expressly permitted hereunder on any asset that is the subject of such Asset Sale, Recovery Event or other sale
of assets (other than any Lien pursuant to a Security Document), (iii) Taxes paid and the Borrower Representative’s
reasonable and good faith estimate of income, franchise, sales, and other applicable Taxes required to be paid by any Group Member
in connection with such Asset Sale, Recovery Event or other sale of assets, (iv) a reasonable reserve for any indemnification
payments (fixed or contingent) attributable to the seller’s indemnities and representations and warranties to the purchaser
in respect of such Asset Sale, Recovery Event or other sale of assets owing by any Group Member in connection therewith and which
are reasonably expected to be required to be paid; provided that to the extent such indemnification payments are not made
and are no longer reserved for, such reserve amount shall constitute Net Cash Proceeds, (v) cash escrows to any Group Member
from the sale price for such Asset Sale, Recovery Event or other sale of assets; provided that any cash released from such
escrow shall constitute Net Cash Proceeds upon such release, (vi) in the case of a Recovery Event, costs of preparing assets
for transfer upon a taking or condemnation, (vii) other customary fees and expenses actually incurred in connection therewith
and net of Taxes paid or reasonably estimated to be payable as a result thereof (after taking into account the reduction in Tax
liability resulting from any available operating losses and net operating loss carryovers, Tax credits, and Tax credit carry forwards,
and similar Tax attributes or deductions and any Tax sharing arrangements) and (viii) in the case of any Asset Sale, Recovery
Event or any other sale of assets by a non-Wholly Owned Subsidiary, the pro rata portion of the Net Cash Proceeds thereof (calculated
without regard to this clause (viii)) attributable to any minority interest and not available for distribution to or for the account
of UK Holdco or a Wholly-Owned Restricted Subsidiary as a result thereof, and (b) in connection with any issuance or sale
of Capital Stock or any incurrence or issuance of Indebtedness, the cash proceeds received from any such issuance or incurrence,
net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other
bona fide fees and expenses actually incurred in connection therewith.


 


“Net Income”:
with respect to any Person, the net income (loss) attributable to such Person, determined in accordance with GAAP and before any
reduction in respect of Preferred Stock dividends.


 


“Net Short
Lender” has the meaning set forth in Section 11.1(b)(xi).


 


“Netted Amounts”:
as defined in the definition of “Consolidated Total Indebtedness.”


 


“Non-Debt
Fund Affiliate”: any Affiliate of Holdings other than (i) Holdings, the Borrowers or any Subsidiary of Holdings
or the Borrowers, (ii) any Debt Fund Affiliate and (iii) any natural person (or a holding company, investment vehicle
or trust for, or owned and operated by or for the primary benefit of, one or more natural persons).


 


“Non-Excluded
Taxes”: as defined in Section 2.19(a).


 


“Non-Guarantor
Subsidiary”: any Subsidiary that is not a Subsidiary Guarantor.


 


“Non-LIBOR
Quoted Currency” means any currency other than LIBOR Quoted Currency.


 


“Non-U.S.
Lender”: as defined in Section 2.19(j).


 


“Note”:
a Term Loan Note, a Revolving Loan Note or a Swingline Loan Note.


 






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“Notice of
Intent to Cure”: an Officer’s Certificate signed on behalf of the Borrower Representative delivered to the Administrative
Agent, with respect to each period of four consecutive fiscal quarters for which a Cure Right will be exercised, on or before the
date the financial statements required under Section 6.1(a) or (b) were required to have been delivered,
which Officer’s Certificate shall contain a computation of the applicable Event of Default and notice of intent to cure such
Event of Default through the issuance of Permitted Cure Securities as contemplated under Section 9.4.


 


“Obligations”:
the unpaid principal of and interest on (including interest accruing after the maturity of the Loans or the maturity of Cash Management
Obligations and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization
or like proceeding, relating to any Borrower or any Guarantor, whether or not a claim for post-filing or post-petition interest
is allowed in such proceeding) the Loans, and all other obligations and liabilities (including obligations arising by way of parallel
debt) of any Borrower or any other Loan Party (including with respect to guarantees) to the Administrative Agent, any Lender or
any other Secured Party, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter
incurred, which may arise under, out of, or in connection with, this Agreement, or any other Loan Document or any other document
made, delivered or given in connection herewith or therewith or any Specified Swap Agreement (other than, in the case of any Excluded
ECP Guarantor, any Excluded Swap Obligations arising thereunder) or any Specified Cash Management Agreement, whether on account
of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including all fees, charges and disbursements
of counsel to the Administrative Agent or to any Lender that are required to be paid by any Borrower or any Guarantor pursuant
to any Loan Document), guarantee obligations or otherwise.


 


“OFAC”:
the U.S. Department of the Treasury’s Office of Foreign Assets Control.


 


“Offer Price”:
as defined in the definition of “Dutch Auction.”


 


“Officer’s
Certificate”: a certificate signed on behalf of the Borrower Representative or any other Group Member by any Responsible
Officer thereof.


 


“OID”:
with respect to any Term Loan or Revolving Facility (or repricing thereof), or any Incremental Term Loan or Revolving Commitment
Increase, as the case may be, the amount of any original issue discount or upfront fees (which shall be deemed to constitute a
like amount of original issue discount), but excluding any arrangement, structuring, commitment or other fees payable in connection
therewith that are not shared with all Lenders in the primary syndication thereof, which excluded fees shall not be included and
equated to the interest rate.


 


“Organizational
Document”: (i) relative to each Person that is a corporation or company, its charter and its by-laws or memorandum
and articles of association (or similar documents), (ii) relative to each Person that is a limited liability company, its
certificate of formation and its operating agreement (or similar documents), (iii) relative to each Person that is a limited
partnership, its certificate of formation or registration and its limited partnership agreement (or similar documents), (iv) relative
to each Person that is a general partnership, its partnership agreement (or similar document), (v) relative to each Person
that is an exempted limited partnership, its exempted limited partnership agreement, (vi) relative to each Person that is
an exempted company, its memorandum and articles of association and (vii) relative to any Person that is any other type of
entity, such documents as shall be comparable to the foregoing.


 


“Other Applicable
Indebtedness”: as defined in Section 2.11(i).


 


“Other Guarantor”:
as defined in Section 8.12(f).


 






    55


     


    

 


“Other Obligations”:
any principal, interest, premium, penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect
to letters of credit and bankers’ acceptances), damages and other liabilities payable under the documentation governing any
Indebtedness.


 


“Other Revolving
Commitments”: one or more Classes of revolving credit commitments hereunder or extended Revolving Commitments hereunder
that result from a Refinancing Amendment.


 


“Other Revolving
Loans”: the Revolving Loans made pursuant to any Other Revolving Commitment.


 


“Other Taxes”:
any and all present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies (including
any penalties, interest and additional amounts with respect thereto) arising from any payment made hereunder or from the execution,
delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document.


 


“Other Term
Commitments”: one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment.


 


“Other Term
Loans”: one or more Classes of Term Loans that result from a Refinancing Amendment.


 


“Outstanding
Amount”: (a) with respect to the Term Loans, Revolving Loans and Swingline Loans on any date, the Dollar Amount
of the aggregate outstanding principal amount thereof on such date after giving effect to any borrowings and prepayments or repayments
of Term Loans, Revolving Loans (including any refinancing of outstanding unpaid drawings under Letters of Credit or L/C Credit
Extensions as a Revolving Borrowing) and Swingline Loans, as the case may be, occurring on such date and (b) with respect
to any L/C Obligations on any date, the Dollar Amount of the aggregate outstanding amount thereof on such date after giving effect
to any L/C Credit Extension occurring on such date and any other changes thereto as of such date, including as a result of any
reimbursements of outstanding unpaid drawings under any Letters of Credit (including any refinancing of outstanding unpaid drawings
under Letters of Credit or L/C Credit Extensions as a Revolving Borrowing) or any reductions in the maximum amount available for
drawing under Letters of Credit taking effect on such date.


 


“Overnight
Rate”: for any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds
Rate and (ii) an overnight rate determined by the Administrative Agent, the Issuing Lender, or the Swingline Lender, as the
case may be, in accordance with banking industry rules on interbank compensation, and (b) with respect to any amount
denominated in an Alternative Currency, the rate of interest per annum at which overnight deposits in the applicable Alternative
Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered
for such day by a branch or Affiliate of Bank of America, N.A. in the applicable offshore interbank market for such currency to
major banks in such interbank market.


 


“Parent Holding
Company”: any direct or indirect parent entity of Holdings which holds directly or indirectly 100% of the Equity Interest
of Holdings and which does not hold Equity Interests in any other Person (except for any other Parent Holding Company).


 


“Participant”:
as defined in Section 11.6(c).


 


“Participant
Register”: as defined in Section 11.6(c).


 






    56


     


    

 


“Participating
Member State”: any member state of the European Union that has the euro as its lawful currency in accordance with legislation
of the European Union relating to Economic and Monetary Union.


 


“Patriot Act”:
USA PATRIOT Improvement and Reauthorization Act, Pub. L. 109-177 (signed into law March 9, 2009), as amended.


 


“PBGC”:
the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA (or any successor).


 


“Perfection
Requirements”: the making or procuring of appropriate registrations, filings, endorsements, stampings and intimation
and/or the taking of control, possession or of other actions in accordance with local laws and/or notifications of the Security
Documents and/or the Liens created thereunder.


 


“Permitted
Acquisition”: as defined in clause (23) of the definition of “Permitted Investments.”


 


“Permitted
Amendment”: an amendment to this Agreement and the other Loan Documents, effected in connection with a Loan Modification
Offer pursuant to Section 2.28, providing for an extension of the maturity date applicable to the Loans and/or Commitments
of the Accepting Lenders and, in connection therewith, (a) a change to the Applicable Margin with respect to the Loans and/or
Commitments of the Accepting Lenders, (b) a change to the fees payable to, or the inclusion of new fees to be payable to,
the Accepting Lenders and/or (c) any other changes permitted by the terms of Section 2.28.


 


“Permitted
Asset Swap”: the substantially concurrent purchase and sale or exchange of Related Business Assets or a combination of
Related Business Assets and cash or Cash Equivalents between UK Holdco or any of the Restricted Subsidiaries and another Person;
provided that any cash or Cash Equivalents received must be applied in accordance with Section 7.5.


 


“Permitted
Auction Purchaser”: any Borrower or Holdings.


 


“Permitted
Clean-Up Investment”: any Investment referred to in clauses (3), (9), (21) and (23) of the definition of “Permitted
Investments.”


 


“Permitted
Credit Agreement Refinancing Debt”: (a) Permitted First Priority Refinancing Debt, (b) Permitted Second Priority
Refinancing Debt, (c) Permitted Unsecured Refinancing Debt or (d) Indebtedness incurred or Other Revolving Commitments
obtained pursuant to a Refinancing Amendment, in each case, issued, incurred or otherwise obtained (including by means of the extension
or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace or Refinance, in whole or part, existing Term
Loans, outstanding Revolving Loans or (in the case of Other Revolving Commitments obtained pursuant to a Refinancing Amendment)
Revolving Commitments hereunder (including any successive Permitted Credit Agreement Refinancing Debt) (any such extended, renewed,
replaced or Refinanced Term Loans, Revolving Loans or Revolving Commitments, “Refinanced Credit Agreement Debt”);
provided that (i) such extending, renewing or refinancing Indebtedness (including, if such Indebtedness includes or
relates to any Other Revolving Commitments, the unused portion of such Other Revolving Commitments) is in an original aggregate
principal amount (or accreted value, if applicable) not greater than the aggregate principal amount (or accreted value, if applicable)
of the Refinanced Credit Agreement Debt (and, in the case of Refinanced Credit Agreement Debt consisting, in whole or in part,
of unused Revolving Commitments or Other Revolving Commitments, the amount thereof) plus an amount equal to unpaid and accrued
interest and premium thereon plus other reasonable and customary fees and expenses (including upfront fees and original
issue discount), (ii) in the case of Other Revolving Commitments and Other Revolving Loans, there shall be no required repayment
thereof (other than in connection with a voluntary reduction of commitments or availability thereunder) prior to the maturity thereof,
and (iii) such Refinanced Credit Agreement Debt shall be repaid, defeased or satisfied and discharged, and all accrued interest,
fees and premiums (if any) in connection therewith shall be paid, on the date such Permitted Credit Agreement Refinancing Debt
is issued, incurred or obtained; provided that to the extent that such Refinanced Credit Agreement Debt consists, in whole
or in part, of Revolving Commitments or Other Revolving Commitments (or Revolving Loans or Other Revolving Loans incurred pursuant
to any Revolving Commitments or Other Credit Revolving Commitments), such Revolving Commitments or Other Revolving Commitments,
as applicable, shall be terminated, and all accrued fees in connection therewith shall be paid, on the date such Permitted Credit
Agreement Refinancing Debt is issued, incurred or obtained.


 






    57


     


    

 


“Permitted
Cure Securities”: any Qualified Equity Interest in Holdings.


 


“Permitted
First Priority Refinancing Debt”: any secured Indebtedness incurred by any Borrower or Subsidiary Guarantor in the form
of one or more series of senior secured notes or senior secured term loans (each, a “First Priority Refinancing Term Facility”)
or one or more senior secured revolving credit facilities (each, a “First Priority Refinancing Revolving Facility”);
provided that (i) such Indebtedness is secured by the Collateral on a pari passu basis (but without regard to
the control of remedies) with the Obligations, (ii) such Indebtedness constitutes Permitted Credit Agreement Refinancing Debt
in respect of Term Loans (including portions of Classes of Term Loans, Other Term Loans or Incremental Term Loans) or outstanding
Revolving Loans and (iii) such Indebtedness complies with the Permitted Refinancing Requirements; provided that an
Officer’s Certificate signed on behalf of the Borrower Representative delivered to the Administrative Agent at least five
(5) Business Days (or such shorter period acceptable to the Administrative Agent) 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 Representative has determined in good faith that such terms and conditions satisfy
the requirement of this definition shall be conclusive evidence that such terms and conditions satisfy such requirement unless
the Administrative Agent notifies the Borrower Representative within such five (5) Business Day period that it disagrees with
such determination (including a reasonable description of the basis upon which it disagrees)). Permitted First Priority Refinancing
Debt will include any Registered Equivalent Notes issued in exchange therefor.


 


“Permitted
Holders”: (i) the Sponsors, (ii) the Management Investors, (iii) any Person that has no material assets
other than the Capital Stock of UK Holdco and, directly or indirectly, holds or acquires 100% of the total voting power of the
Voting Stock of Holdings or any direct or indirect Parent Holding Company, and of which no other Person or group (within the meaning
of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), other than any Permitted
Holder specified in clause (i) above, holds more than 50% of the total voting power of the Voting Stock thereof, (iv) any
other beneficial owner in the equity in Holdings or any direct or indirect Parent Holding Company as of the Closing Date and (v) any
group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision)
the members of which include any Permitted Holder specified in clauses (i), (iii) or (iv) above and that, directly or
indirectly, hold or acquire beneficial ownership of the Voting Stock of Holdings or any direct or indirect Parent Holding Company
or of a Permitted Holder specified in clause (iii) above (a “Permitted Holder Group”), so long as no Person
or other “group” (other than a Permitted Holder or group of Permitted Holders specified in clauses (i), (iii) and
(iv) above) beneficially owns more than 50% on a fully diluted basis of the Voting Stock held by the Permitted Holder Group.


 


“Permitted
Investments”:


 


(1)            any
Investment in UK Holdco or any Restricted Subsidiary;


 


(2)            any
Investment in Cash Equivalents or Investment Grade Securities;


 






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(3)            (x) any
Investment by UK Holdco or any Restricted Subsidiary in a Person if as a result of such Investment (a) such Person becomes
a Restricted Subsidiary, or (b) such Person, in one transaction or a series of related transactions, is merged, consolidated
or amalgamated with or into, or transfers or conveys all or substantially all of its assets to, or is liquidated into, UK Holdco
or a Restricted Subsidiary and (y) any Investment held by such Person; provided that such Investment was not acquired
by such Person in contemplation of such acquisition, merger, consolidation or transfer;


 


(4)            any
Investment in securities or other assets, including earnouts or similar obligations, not constituting Cash Equivalents or Investment
Grade Securities and received in connection with an Asset Sale made pursuant to Section 7.5 or any other disposition
of assets not constituting an Asset Sale;


 


(5)            any
Investment (x) existing on the Closing Date (in the case of any individual Investment in excess of $5,000,000, to be set forth
on Schedule 1.1D), (y) made pursuant to binding commitments in effect on the Closing Date (in the case of any individual
Investment in excess of $5,000,000, to be set forth on Schedule 1.1D) and (z) that replaces, Refinances, refunds, renews
or extends any Investment described under either of the immediately preceding clauses (x) or (y), provided that any
such Investment is in an amount that does not exceed the amount replaced, Refinanced, refunded, renewed or extended except to the
extent required by the terms of such Investment on the Closing Date;


 


(6)            loans
and advances to, and guarantees of Indebtedness of, employees of UK Holdco (or any of its direct or indirect parent companies)
or a Restricted Subsidiary not in excess of the greater of $20,000,000 and 7% of Consolidated EBITDA as of the most recently ended
Reference Period outstanding at any one time, in the aggregate;


 


(7)            any
Investment acquired by UK Holdco or any of the Restricted Subsidiaries (a) in exchange for any other Investment or accounts
receivable held by UK Holdco or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization
or recapitalization of UK Holdco of such other Investment or accounts receivable, (b) in good faith settlement of delinquent
obligations of, and other disputes with, Persons who are not Affiliates or (c) as a result of a foreclosure by UK Holdco or
any of the Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured
Investment in default;


 


(8)            Hedging
Obligations permitted under Section 7.2(b)(xii);


 


(9)            additional
Investments by UK Holdco or any of the Restricted Subsidiaries having an aggregate Fair Market Value, taken together with all other
Investments made pursuant to this clause (9) that are at the time outstanding, not to exceed the greater of $250,000,000 and
77% of Consolidated EBITDA as of the most recently ended Reference Period; provided, however, for the avoidance of
doubt, that if any Investment pursuant to this clause (9) is made in any Person that is not a Restricted Subsidiary at the
date of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such Investment shall thereafter
be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (9) for
so long as such Person continues to be a Restricted Subsidiary;


 


(10)          loans
and advances to (or guarantees of Indebtedness of) future, present or former officers, directors, employees and consultants for
business related travel expenses (including entertainment expense), moving and relocation expenses, Tax advances, payroll advances
and other similar expenses, in each case Incurred in the ordinary course of business or consistent with past practice or to fund
such Person’s purchase or other acquisition for value of Equity Interests of UK Holdco or any direct or indirect parent company
thereof under compensation plans approved by the Board of Directors of UK Holdco (or any direct or indirect parent company thereof)
in good faith;


 






    59


     


    

 


(11)          Investments
the payment for which consists of Equity Interests of Holdings (other than Disqualified Stock) or any direct or indirect parent
of Holdings, as applicable; provided, however, that such Equity Interests will not increase the amount available
for Restricted Payments under Section 7.3(a)(3);


 


(12)         any
transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of Section 6.18
(except transactions described in clauses (b)(ii), (b)(v), (b)(ix)(B), (b)(xxiii) and (b)(xxiv) therein);


 


(13)          Investments
consisting of the licensing or contribution of intellectual property pursuant to joint marketing arrangements with other Persons;


 


(14)          guarantees
issued in accordance with Section 7.2 and Section 6.9;


 


(15)          Investments
consisting of purchases and acquisitions of inventory, supplies, materials and equipment (including without limitation prepayments
to suppliers in the ordinary course of business) or purchases of contract rights or licenses or leases of intellectual property,
in each case in the ordinary course of business;


 


(16)          any
Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in connection with a Qualified
Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such
Qualified Receivables Financing or any related Indebtedness; provided, however, that any Investment in a Receivables
Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest;


 


(17)         Investments
resulting from the receipt of non-cash consideration in an Asset Sale received in compliance with Section 7.5 or any
disposition of assets not constituting an Asset Sale;


 


(18)          (x) Investments
in joint ventures of UK Holdco or any of its Restricted Subsidiaries existing on the Closing Date, (y) additional Investments
in joint ventures in an aggregate amount not to exceed the greater of $150,000,000  and 47% of Consolidated EBITDA as of the
most recently ended Reference Period at any one time outstanding and (z) additional Investments in Similar Businesses in an
aggregate amount not to exceed the greater of $150,000,000 and 47% of Consolidated EBITDA as of the most recently ended Reference
Period at any one time outstanding; provided, however, that, for the avoidance of doubt, if any Investment pursuant
to this clause (18) is made in any Person that is not a Restricted Subsidiary at the date of the making of such Investment
and such Person becomes a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant
to clause (1) above and shall cease to have been made pursuant to this clause (18) for so long as such Person continues
to be a Restricted Subsidiary;


 


(19)          Investments
of a Restricted Subsidiary acquired after the Closing Date or of an entity merged into or consolidated with a Restricted Subsidiary
in a transaction that is not prohibited by Section 7.8 after the Closing Date to the extent that such Investments were
not made in contemplation of such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger
or consolidation;


 






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(20)            advances,
loans, rebates and extensions of credit (including the creation of receivables) to suppliers, customers and vendors, and performance
guarantees, in each case in the ordinary course of business;


 


(21)            the
acquisition of assets or Capital Stock solely in exchange for the issuance of common equity securities of Holdings or a Restricted
Subsidiary (or any direct or indirect parent of Holdings);


 


(22)            Investments
by Lux Company Borrower in UK Holdco evidenced by each Loan Note Instrument; and


 


(23)            acquisitions
by UK Holdco or any Restricted Subsidiary of the majority of the Capital Stock of Persons or of assets constituting a division
or business unit of, or all or substantially all of the assets of, a Person (each a “Permitted Acquisition”);
provided that (i) no Specified Event of Default has occurred or is continuing at the applicable time of determination,
(ii) UK Holdco and its Restricted Subsidiaries will be in compliance with Section 6.19(a) after giving effect
to such Permitted Acquisition, (iii) any Person acquired shall become, and any Person acquiring assets shall be, a Restricted
Subsidiary (unless designated as an Unrestricted Subsidiary) and (iv) UK Holdco or such Restricted Subsidiary, as applicable,
shall take, and shall cause such Person to take, all actions required under Section 6.9 in connection therewith.


 


“Permitted
Liens”: with respect to any Group Member:


 


(1)            pledges
or deposits by such Person in connection with workmen’s compensation, employment or unemployment insurance and other types
of social security legislation, employee source deductions, goods and services Taxes, sales Taxes, municipal Taxes, corporate Taxes
and pension fund obligations or good faith deposits, prepayments or cash pledges to secure bids, tenders, contracts (other than
for the payment of Indebtedness) or leases, subleases, licenses, sublicenses or similar agreements to which such Person is a party,
performance and return of money bonds and other similar obligations incurred in the ordinary course of business, or deposits to
secure public or statutory obligations of such Person or deposits of cash or government bonds to secure surety, stay, customs or
appeal bonds or statutory bonds to which such Person is a party, or deposits as security for contested Taxes or import duties or
for the payment of rent, in each case incurred in the ordinary course of business;


 


(2)            Liens
imposed by law, such as landlords’, carriers’, warehousemen’s, materialmen’s, repairmen’s, construction
contractors’ and mechanics’ and other like Liens, in each case for sums not overdue for a period of more than 30 days
(other than with respect to Subsidiaries formed in Germany) or being contested in good faith by appropriate proceedings or other
Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an
appeal or other proceedings for review if adequate reserves with respect thereto are being maintained in accordance with GAAP (or,
in the case of any Foreign Subsidiary, the accounting principles applicable in the relevant jurisdiction);


 


(3)            Liens
for Taxes, assessments or other governmental charges (i) not overdue for more than 60 days or (ii) which are being contested
in good faith by appropriate proceedings if (a) adequate reserves with respect thereto are being maintained on the books of
such Person in accordance with GAAP (or, in the case of any Foreign Subsidiary, the accounting principles applicable in the relevant
jurisdiction) or (b) they are immaterial to UK Holdco and its Restricted Subsidiaries taken as a whole;


 


(4)            Liens
in favor of issuers of performance, surety, bid, indemnity, warranty, release, appeal or similar bonds or with respect to other
regulatory requirements, or letters of credit or bankers’ acceptances issued, and completion guarantees provided for, in
each case pursuant to the request of and for the account of such Person in the ordinary course of its business;


 






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(5)            survey
exceptions, encumbrances, leases, subleases, encroachments, protrusions, easements or reservations of, or rights of others for,
sublicenses, licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph and telephone and cable television
lines, and other similar purposes, or zoning, building codes or other restrictions (including, without limitation, defects or irregularities
in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of such
Person or to the ownership of its properties which were not Incurred in connection with Indebtedness and which, in each case, do
not in the aggregate materially impair their use in the operation of the business of such Person taken as a whole;


 


(6)            Liens
incurred to secure Other Obligations in respect of Indebtedness or other obligations permitted to be Incurred pursuant to Section 7.2(b)(i),
(b)(ii), (b)(iv), (b)(vi) (to the extent contemplated to be secured by the terms thereof), (b)(vii),
(b)(xv), (b)(xvi) or (b)(xxii) (to the extent contemplated to be secured by the terms thereof);
provided that, (A) in the case of Section 7.2(b)(vii), such Lien extends only to the assets and/or Capital
Stock, the acquisition, purchase, lease, construction, design, installation, repair, replacement or improvement of which is financed
thereby and any income or profits thereof; provided that individual financings provided by a lender may be cross collateralized
to other financings provided by such lender or its Affiliates, (B) in the case of Section 7.2(b)(vi) such
Indebtedness complies with the Applicable Requirements, (C) in the case of Section 7.2(b)(xv), such guarantee
may only be subject to Liens to the extent the underlying Indebtedness may be subject to any Liens and (D) in the case of
any Liens securing Refinancing Indebtedness Incurred pursuant to Section 7.2(b)(xvi), such Lien relates only to Refinancing
Indebtedness that (x) is secured by Liens on all or a portion of the same assets or the same categories or types of assets
as the assets (plus improvements, accessions, proceeds or dividends or distributions in respect thereof, or replacements of any
thereof) that secured the Indebtedness being refinanced or (y) extends, replaces, refunds, refinances, renews or defeases
Indebtedness incurred or Disqualified Stock or Preferred Stock issued under Section 7.2(b)(iii) (solely to the
extent such Indebtedness was secured by a Lien prior to such refinancing);


 


(7)            Liens
(i) securing the Obligations and (ii) existing on the Closing Date (in the case of any Lien securing obligations in excess
of $5,000,000, to be set forth on Schedule 1.1E);


 


(8)            Liens
on assets, property or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary; provided, however,
that such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Restricted
Subsidiary; provided, further, however, that such Liens may not extend to any other property owned by
UK Holdco or any Restricted Subsidiary (other than the proceeds or products of such assets, property or shares of stock or improvements
thereon or replacements, accessions or additions thereto, it being understood that individual financings of the type permitted
under ‎Section 7.2(b)(vii) provided by any lender may be cross-collateralized
to other financings of such type provided by such lender or its affiliates);


 


(9)            Liens
on assets or on property at the time UK Holdco or any Restricted Subsidiary acquired such assets or property, including any acquisition
by means of a merger or consolidation with or into UK Holdco or any Restricted Subsidiary; provided, however, that
such Liens are not created or incurred in connection with, or in contemplation of, such acquisition; provided, further,
however, that the Liens may not extend to any other assets or property owned by UK Holdco or any Restricted Subsidiary
(other than the proceeds or products of such assets or property or shares of stock or improvements thereon or replacements, accessions
or additions thereto, it being understood that individual financings of the type permitted under ‎Section 7.2(b)(vii) provided
by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates);


 






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(10)            Liens
securing Indebtedness or other obligations of UK Holdco or a Restricted Subsidiary owing to UK Holdco or another Restricted Subsidiary
permitted to be Incurred pursuant to Section 7.2;


 


(11)            Liens
securing Hedging Obligations not entered into for speculative purposes;


 


(12)            Liens
on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in respect of
bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of
such inventory or other goods;


 


(13)           leases,
licenses, subleases and sublicenses of assets (including, without limitation, real property and intellectual property rights) in
the ordinary course of business which do not materially interfere with the ordinary conduct of the business of UK Holdco or any
Restricted Subsidiaries;


 


(14)            Liens
arising from UCC financing statement filings (or similar filings in any other jurisdiction) regarding operating leases or consignments
entered into by UK Holdco and its Restricted Subsidiaries in the ordinary course of business and precautionary or purported Liens
evidenced by the filing of UCC financing statement filings (or similar filings in any other jurisdiction);


 


(15)            Liens
in favor of UK Holdco or any Restricted Subsidiary;


 


(16)            Liens
on accounts receivable and related assets of the type specified in the definition of “Receivables Financing” incurred
in connection with a Qualified Receivables Financing;


 


(17)            (A) pledges
and deposits made in the ordinary course of business to secure liability to insurance carriers, insurance companies and brokers
and (B) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;


 


(18)            Liens
on the Equity Interests and Indebtedness of, and the assets of, Unrestricted Subsidiaries and joint ventures that are not Restricted
Subsidiaries;


 


(19)            grants
of software and other technology licenses in the ordinary course of business;


 


(20)            judgment
and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights related to
litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made;


 


(21)            Liens
arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into in the
ordinary course of business;


 


(22)            Liens
incurred to secure Cash Management Services in the ordinary course of business;


 


(23)            Liens
on equipment of UK Holdco or any Restricted Subsidiary granted in the ordinary course of business to UK Holdco’s or such
Restricted Subsidiary’s client at which such equipment is located;


 






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(24)            Liens
to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals
or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in clauses (6), (7), (8), (9), (10),
(11) and (15) of this definition of “Permitted Liens;” provided, however, that (x) such new Lien
shall be limited to all or part of the same property that secured the original Lien (plus proceeds or products of such property
or improvements on such property), and (y) the Indebtedness secured by such Lien at such time is not increased to any amount
greater than the sum of (A) the outstanding principal amount or, if greater, committed amount of the Indebtedness described
under clauses (6), (7), (8), (9), (10), (11) and (15) of this definition of “Permitted Liens” at the time the original
Lien became a Permitted Lien under this Agreement, and (B) an amount necessary to pay accrued and unpaid interest, any fees
and expenses, including any premium and defeasance costs, related to such refinancing, refunding, extension, renewal or replacement;


 


(25)            other
Liens securing obligations which obligations do not exceed the greater of $250,000,000 and 77% of Consolidated EBITDA as of the
most recently ended Reference Period at any one time outstanding; provided that, at the election of the Borrower Representative
with respect to any such Liens on Collateral, the holders of such obligations (or a representative thereof) shall be party to an
Acceptable Intercreditor Agreement that provides that such obligations are secured on a junior lien basis to the Obligations hereunder;


 


(26)            [reserved];


 


(27)            Liens
on receivables and related assets including proceeds thereof being sold in factoring arrangements entered into in the ordinary
course of business;


 


(28)            Liens
that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not given in connection
with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of UK Holdco or any of its Restricted
Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of UK Holdco
and its Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of UK
Holdco or any of its Restricted Subsidiaries in the ordinary course of business;


 


(29)            Liens
encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts
or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes;


 


(30)            Liens
deemed to exist in connection with Investments in repurchase agreements permitted under Section 7.2; provided
that such Liens do not extend to any assets other than those assets that are the subject of such repurchase agreement;


 


(31)            restrictions
on dispositions of assets to be disposed of pursuant to merger agreements, stock or asset purchase agreements and similar agreements;


 


(32)            customary
options, put and call arrangements, rights of first refusal and similar rights relating to Investments in joint ventures, partnerships
and similar investment vehicles;


 


(33)            any
amounts held by a trustee in the funds and accounts under an indenture securing any revenue bonds issued for the benefit of UK
Holdco or any of its Restricted Subsidiaries;


 


(34)            Liens
(i) 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 or (ii) on specific items of inventory or other goods and
proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances or letters of credit issued
or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods in the
ordinary course of business;


 






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(35)            Liens
not given in connection with the issuance of Indebtedness for borrowed money (i) of a collection bank arising under Section 4-210
of the UCC (or similar provisions in any other jurisdiction) on items in the course of collection; (ii) attaching to a commodity
trading account in the ordinary course of business; and (iii) in favor of a banking or other financial institution arising
as a matter of law or under customary general terms and conditions 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 (including,
without limitation, any Lien arising by entering into standard banking arrangements (AGB-Banken oder AGB-Sparkassen) in
Germany);


 


(36)            (i) Liens
solely on any cash earnest money deposits made in connection with any letter of intent or purchase agreement in connection with
an Investment permitted hereunder and (ii) Liens on advances of cash or Cash Equivalents in favor of the seller of any property
to be acquired in an Investment permitted hereunder to be applied against the purchase price for such Investment;


 


(37)            customary
Liens on deposits required in connection with the purchase of property, equipment and inventory, in each case incurred in the ordinary
course of business;


 


(38)            Liens
on cash, Cash Equivalents or other property arising in connection with the defeasance, discharge, repayment or redemption of Indebtedness;
provided that such defeasance, discharge, repayment or redemption is permitted hereunder;


 


(39)            Liens
on property or assets under construction (and related rights) in favor of a contractor or developer or arising from progress or
partial payments by a third party relating to such property or assets;


 


(40)            Liens
given to a public utility or any municipality or governmental authority when required by such utility or authority in connection
with the operations of UK Holdco or a Restricted Subsidiary thereof in the ordinary course of business; provided that such
Liens do not materially interfere with the operations of UK Holdco and its Restricted Subsidiaries, taken as a whole;


 


(41)            Liens
on assets or Equity Interests of Non-Guarantor Subsidiaries, provided such Liens secure obligations of Non-Guarantor Subsidiaries
that are otherwise permitted hereunder and such Liens only encumber assets or Equity Interests of such Non-Guarantor Subsidiaries;


 


(42)            Liens
arising out of or deemed to exist in connection with any financing transaction of the type described in clause (m) of the
definition of “Asset Sale;”


 


(43)            (i) pledges,
deposits or Liens arising as a matter of law in the ordinary course of business in connection with workers’ compensation
schemes, 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 UK Holdco or any Restricted Subsidiary (including, without limitation, any Liens Incurred pursuant to Section 8a of the
German Old Age Employees Part Time Act (Altersteilzeitgesetz) or Section 7e of the Fourth Book of the German Social
Code (Sozialgesetzbuch IV)); and


 


(44)            Liens
on assets not constituting Collateral securing obligations in an aggregate amount not to exceed the greater of $10,000,000 and
3% of Consolidated EBITDA as of the most recently ended Reference Period.


 






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For purposes of this
definition, the term “Indebtedness” shall be deemed to include interest on such Indebtedness.


 


“Permitted
Refinancing Requirements”: with respect to any Indebtedness incurred by any Borrower or Subsidiary Guarantor to Refinance,
in whole or part, any other Indebtedness (such other Indebtedness, “Refinanced Debt”):


 


(a)            with
respect to all such Indebtedness:


 


(i)            the
other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors and optional prepayment or redemption terms)
are not materially more restrictive on the Group Members than those applicable to the Refinanced Debt (except for (x) financial
covenants or other covenants or provisions applicable only to periods after the Latest Maturity Date at the time of such Refinancing,
as may be agreed by the Borrower Representative and the providers of such Indebtedness, (y) then-prevailing market terms for
the applicable type of Indebtedness (as determined by the Borrower Representative in good faith); provided that if such
Indebtedness includes a financial covenant that is more restrictive than Section 7.1 of this Agreement, such financial
covenant shall be either (A) conformed (or added) to the Loan Documents for the benefit of the Revolving Lenders pursuant
to an amendment agreement between the Administrative Agent and the applicable Borrowers or (B) applicable only to periods
after the Revolving Termination Date or otherwise reasonably satisfactory to the Administrative Agent or (z) terms that are
conformed (or added) to the Loan Documents for the benefit of the applicable Lender pursuant to an amendment between the Administrative
Agent and the applicable Borrowers);


 


(ii)            if
such Indebtedness is guaranteed, it is not guaranteed by any Restricted Subsidiary other than a Loan Party; and


 


(iii)            the
proceeds of such Indebtedness are applied, substantially concurrently with the incurrence thereof, to the prepayment (or satisfaction
and discharge) of the outstanding amount (and, if such Indebtedness constitutes Refinancing Revolving Debt, reductions of the Revolving
Commitments) of the Refinanced Debt in accordance with its terms;


 


(b)            if
such Indebtedness constitutes Refinancing Revolving Debt, such Indebtedness does not mature (or require commitment reductions or
amortization) prior to the final stated maturity date of the Refinanced Debt;


 


(c)            if
such Indebtedness constitutes Refinancing Term Debt (other than Customary Bridge Financing):


 


(i)            in
the case of Refinancing Term Debt, other than Refinancing Term Debt incurred pursuant to the Inside Maturity Basket, such Indebtedness
(A) does not mature prior to the maturity date of the Refinanced Debt and (B) does not have a Weighted Average Life to
Maturity shorter than the remaining Weighted Average Life to Maturity of the Refinanced Debt determined at the time of incurrence;
and


 


(ii)            [reserved];
and


 


(d)            if
such Indebtedness is secured:


 


(i)            such
Indebtedness is not secured by any assets other than the Collateral (it being understood that such Indebtedness shall not be required
to be secured by all of the Collateral); provided that Indebtedness that may be incurred by Non-Guarantor Subsidiaries pursuant
to Section 7.2 may be secured by assets of Non-Guarantor Subsidiaries; and


 






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(ii)            to
the extent secured by Collateral, a Senior Representative acting on behalf of the providers of such Indebtedness shall have become
party to an Acceptable Intercreditor Agreement (or, if applicable, the Initial Intercreditor Agreement shall have been amended
or replaced in a manner reasonably acceptable to the Administrative Agent), which results in such Senior Representative having
rights to share in the Collateral as provided in the definition of Permitted First Priority Refinancing Debt, in the case of a
First Priority Refinancing Revolving Facility or a First Priority Refinancing Term Facility, or in the definition of Permitted
Second Priority Refinancing Debt, in the case of a Second Priority Refinancing Revolving Facility or a Second Priority Refinancing
Term Facility.


 


“Permitted
Second Priority Refinancing Debt”: any secured Indebtedness incurred by any Borrower or Subsidiary Guarantor in the form
of one or more series of second lien secured notes or second lien secured term loans (each, a “Second Priority Refinancing
Term Facility”) or one or more revolving credit facilities (each, a “Second Priority Refinancing Revolving Facility”);
provided that (i) such Indebtedness is secured by the Collateral on a second lien, subordinated basis (with respect
to liens only) to the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt, (ii) such
Indebtedness constitutes Permitted Credit Agreement Refinancing Debt in respect of Term Loans (including portions of Classes of
Term Loans, Other Term Loans or Incremental Term Loans) or outstanding Revolving Loans and (iii) such Indebtedness complies
with the Permitted Refinancing Requirements; provided that an Officer’s Certificate signed on behalf of the Borrower
Representative delivered to the Administrative Agent at least five Business Days (or such shorter period acceptable to the Administrative
Agent) 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 Representative has determined
in good faith that such terms and conditions satisfy the requirement of this definition shall be conclusive evidence that such
terms and conditions satisfy such requirement unless the Administrative Agent notifies the Borrower Representative within such
five Business Day period that it disagrees with such determination (including a reasonable description of the basis upon which
it disagrees)). Permitted Second Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.


 


“Permitted
Tax Distributions”: payments made pursuant to Section 7.3(b)(xii).


 


“Permitted
Unsecured Refinancing Debt”: any unsecured Indebtedness incurred by any Borrower or Subsidiary Guarantor in the form
of one or more series of senior unsecured notes or term loans (each, an “Unsecured Refinancing Term Facility”)
or one or more revolving credit facilities (each, an “Unsecured Refinancing Revolving Facility”); provided
that (i) such Indebtedness constitutes Permitted Credit Agreement Refinancing Debt in respect of Term Loans (including portions
of Classes of Term Loans, Other Term Loans or Incremental Term Loans) or outstanding Revolving Loans and (ii) such Indebtedness
complies with the Permitted Refinancing Requirements; provided that an Officer’s Certificate signed on behalf of the
Borrower Representative delivered to the Administrative Agent at least five Business Days (or such shorter period acceptable to
the Administrative Agent) 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 Representative
has determined in good faith that such terms and conditions satisfy the requirement of this definition shall be conclusive evidence
that such terms and conditions satisfy such requirement unless the Administrative Agent notifies the Borrower Representative within
such five Business Day period that it disagrees with such determination (including a reasonable description of the basis upon which
it disagrees)). Permitted Unsecured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.


 






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“Person”:
any natural person, corporation, limited partnership, exempted limited partnership, exempted company, general partnership, limited
liability company, limited liability partnership, joint venture, association, joint stock company, trust, bank trust company, land
trust, business trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity
whether legal or not.


 


“Plan”:
at a particular time, any employee benefit plan that is subject to Title IV of ERISA and in respect of which Holdings or a Commonly
Controlled Entity is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an
 “employer” as defined in Section 3(5) of ERISA.


 


“Platform”:
as defined in Section 6.2(a).


 


“Preferred
Stock”: any Equity Interest with preferential right of payment of dividends or redemptions upon liquidation, dissolution,
or winding up.


 


“Previously
Designated Unrestricted Subsidiary”: as defined in Section 6.12.


 


“Prime Rate”:
the rate set by the Administrative Agent based upon various factors including the Administrative Agent’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. Any change in such prime rate announced by the Administrative Agent shall take effect
at the opening of business on the day specified in the public announcement of such change.


 


“Private Lender
Information”: any information and documentation that is not Public Lender Information.


 





“Pro Forma
Basis”: with respect to any Reference Period (i) if, during such Reference Period (or after such Reference Period and
prior to the date of determination), UK Holdco or any Restricted Subsidiary shall have made any Disposition (or discontinued any
operations) of at least a division of a business unit, the Consolidated EBITDA for such Reference Period shall be reduced by an
amount equal to the Consolidated EBITDA (if positive) attributable to the property that is the subject of such Disposition or discontinuation
for such Reference Period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such
Reference Period (for the avoidance of doubt, including (without duplication) pro forma adjustments, if any, to the extent set
forth in the definition of Consolidated EBITDA);


 




(ii)            if,
during such Reference Period (or after such Reference Period and prior to the date of determination), UK Holdco or any Restricted
Subsidiary shall have made an Investment or acquisition of assets, in each case constituting at least a division of a business
unit of, or all or substantially all of the assets of, any Person (whether by way of merger, asset acquisition, acquisition of
Capital Stock or otherwise), Consolidated EBITDA for such Reference Period shall be calculated after giving pro forma effect thereto
as if such Investment or acquisition occurred on the first day of such Reference Period (for the avoidance of doubt, including
(without duplication) pro forma adjustments, if any, to the extent set forth in the definition of Consolidated EBITDA);


 


(iii)            if,
during such Reference Period (or after such Reference Period and prior to the date of determination), the Borrower Representative
shall have designated any Restricted Subsidiary as an Unrestricted Subsidiary, or designated any Unrestricted Subsidiary as a Restricted
Subsidiary, Consolidated EBITDA and the Interest Coverage Ratio for such Reference Period shall be calculated after giving pro
forma effect thereto as if such designation occurred on the first day of such Reference Period;


 






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(iv)            if,
during such Reference Period (or after such Reference Period and prior to the date of determination), UK Holdco or any Restricted
Subsidiary shall have Incurred or shall have repaid, retired or extinguished any Indebtedness (other than Indebtedness under any
revolving credit facility unless such Indebtedness has been permanently repaid, retired or extinguished (and the commitments thereunder
terminated) and not replaced), or issued or redeemed any Disqualified Stock or Preferred Stock, then the Interest Coverage Ratio
shall be calculated giving pro forma effect to such Incurrence, repayment, retirement, extinguishment, issuance or redemption,
as if the same had occurred on the first day of the applicable Reference Period;


 


(v)            if,
after such Reference Period and prior to the date of determination, UK Holdco or any Restricted Subsidiary shall have Incurred
or shall have repaid, retired or extinguished any Indebtedness (other than Indebtedness under any revolving credit facility unless
such Indebtedness has been permanently repaid, retired or extinguished (and the commitments thereunder terminated) and not replaced),
or issued or redeemed any Disqualified Stock or Preferred Stock, then the First Lien Net Leverage Ratio, the Secured Net Leverage
Ratio and the Total Net Leverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, retirement, extinguishment,
issuance or redemption, as if the same had occurred on the last day of such Reference Period; and


 


(vi)            if,
during such Reference Period (or after such Reference Period and prior to the date of determination), UK Holdco or any Restricted
Subsidiary shall have initiated any Cost Saving Initiative, the applicable Expected Cost Savings shall be calculated on a pro forma
basis as though such Expected Cost Savings had been realized on the first day of such Reference Period and as if such Expected
Cost Savings were realized in full during the entirety of such Reference Period;


 


provided that, solely
for purposes of calculating (x) quarterly compliance with ‎Section 7.1
and (y) the First Lien Net Leverage Ratio for purposes of the definitions of “Applicable Margin” and “Commitment
Fee Rate”, in each case, the date of the required calculation shall be the last day of the Reference Period, and no transaction
occurring after the end of the Reference Period shall be taken into account in determining any such calculation made on a Pro Forma
Basis.


 


For purposes of this
Agreement, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith
by a responsible financial or accounting officer of the Borrower Representative. Any such pro forma calculation shall include,
without duplication, adjustments appropriate to reflect cost savings, operating expense reductions, restructuring charges and expenses
and synergies reasonably expected to result from the applicable event to the extent set forth in the definition of “Consolidated
EBITDA”.


 


If any Indebtedness
bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as
if the rate in effect on the applicable calculation date had been the applicable rate for the entire period (taking into account
any Hedging Obligations applicable to such Indebtedness).


 


The term “Disposition”
in this definition shall not include dispositions of inventory and other ordinary course dispositions of property.


 


“Properties”:
as defined in Section 4.13(a).


 






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“Pro Rata
Share”: with respect to (i) any Revolving Facility, and each Revolving Lender’s share of such Revolving Facility,
at any time a fraction (expressed as a percentage), the numerator of which is the amount of the Revolving Commitments of such Revolving
Lender under such Revolving Facility at such time and the denominator of which is the amount of the aggregate Revolving Commitments
under such Revolving Facility at such time; provided that if such Revolving Commitments have been terminated, then the Pro
Rata Share of each Revolving Lender shall be determined based on the Pro Rata Share of such Revolving Lender under such Revolving
Facility immediately prior to such termination and after giving effect to any subsequent assignments made pursuant to the terms
hereof, (ii) any Term Facility, and each Term Lender and such Term Lender’s share of all Term Commitments or Term Loans
under such Term Facility, at any time a fraction (expressed as a percentage), the numerator of which is the amount of the Term
Commitments of such Term Lender under such Term Facility at such time and the denominator of which is the amount of the aggregate
Term Commitments under such Term Facility at such time; provided that if any Term Loans are outstanding under such Term
Facility, then the Pro Rata Share of each Term Lender shall be a fraction (expressed as a percentage), the numerator of which is
the amount of the Term Loans of such Term Lender under such Term Facility at such time and the denominator of which is the amount
of the aggregate Term Loans at such time; provided, further, that if all Term Loans under such Term Facility have
been repaid, then the Pro Rata Share of each Term Lender under such Term Facility shall be determined based on the Pro Rata Share
of such Term Lender under such Term Facility immediately prior to such repayment, and (iii) with respect to each Lender and
all Loans and Outstanding Amounts at any time a fraction (expressed as a percentage), the numerator of which is the Outstanding
Amount with respect to Loans and Commitments of such Lender at such time (plus such Lender’s obligation to purchase
participations in undrawn Letters of Credit) and the denominator of which is the Outstanding Amount (in aggregate) plus
the amount of all Lenders’ obligations to purchase participations in undrawn Letters of Credit at such time; provided
that if all Outstanding Amounts have been repaid or terminated, then the Pro Rata Share of each Lender shall be determined based
on the Pro Rata Share of such Lender immediately prior to such termination and after giving effect to any subsequent assignments
made pursuant to the terms hereof.


 


“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 Lender”:
as defined in Section 6.2(a).


 


“Public Lender
Information”: information and documentation that is either exclusively (i) of a type that would be publicly available
if Holdings and its respective Subsidiaries were public reporting companies or (ii) not material or inside information with
respect to Holdings and its respective Subsidiaries or any of their respective securities for purposes of foreign, United States
Federal and state securities laws.


 


“Purchase”:
as defined in the definition of “Dutch Auction.”


 


“Purchase
Money Note”: a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be irrevocable, from
UK Holdco or any of its Subsidiaries to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note
is intended to finance that portion of the purchase price that is not paid by cash or a contribution of equity.


 


“Purchase
Notice”: as defined in the definition of “Dutch Auction.”


 


“Purchaser”:
as defined in the definition of “Dutch Auction.”


 






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“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).


 


“Qualified
Counterparty”: (i) in the case of a Specified Swap Agreement that is an Existing Swap Agreement, any counterparty
thereto, (ii) in the case of a Specified Swap Agreement that is in effect on the Closing Date, the Administrative Agent, a
Joint Lead Arranger, a Lender or an Affiliate of the foregoing, in its capacity as a counterparty to such Specified Swap Agreement,
(iii) in the case of a Specified Swap Agreement entered into after the Closing Date, the Administrative Agent, a Joint Lead
Arranger, a Lender or an Affiliate of the foregoing, in each case at the time of entry into such agreement, in its capacity as
a counterparty to such Specified Swap Agreement and (iv) any other Person from time to time designated in writing by the Borrower
Representative with the consent of the Administrative Agent (not to be unreasonably withheld, delayed or conditioned) and that
has appointed the Collateral Agent as its collateral agent in a manner reasonably acceptable to the Collateral Agent; provided
that none of the Administrative Agent, a Joint Lead Arranger, a Lender or an Affiliate of the foregoing described in the preceding
clauses (ii) and (iii) shall cease to be Qualified Counterparties by reason of ceasing to be the Administrative Agent,
a Joint Lead Arranger, a Lender or an Affiliate of the foregoing, as applicable.


 


“Qualified
ECP Guarantor”: in respect of any Swap Obligation, any Loan Party that has total assets exceeding $10,000,000 (or total
assets exceeding such other amount so that such Loan Party is an “eligible contract participant” as defined in the
Commodity Exchange Act) at the time such Swap Obligation is incurred.


 


“Qualified
Equity Interests”: any Capital Stock that is not a Disqualified Stock.


 


“Qualified
Receivables Financing”: any Receivables Financing of a Receivables Subsidiary that meets the following conditions: (1) the
Borrower Representative shall have determined in good faith that such Qualified Receivables Financing (including financing terms,
covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to Borrower Representative
and the Receivables Subsidiary, (2) all sales of accounts receivable and related assets to the Receivables Subsidiary are
made at Fair Market Value (as determined in good faith by the Borrower Representative), and (3) the financing terms, covenants,
termination events and other provisions thereof shall be market terms at the time the receivables financing is first introduced
(as determined in good faith by the Borrower Representative and it being understood that such terms, covenants, termination events
and other provisions may subsequently be modified so long as such modifications are on market terms at the time of any such modification)
and may include Standard Securitization Undertakings. The grant of a security interest in any accounts receivable of UK Holdco
or any Restricted Subsidiary (other than a Receivables Subsidiary) to secure any Indebtedness shall not be deemed a Qualified Receivables
Financing.


 


“Qualified
Reporting Subsidiary” as defined in Section 6.1.


 


“Rate Determination
Date” means two (2) Business Days prior to the commencement of the applicable Interest Period (or such other day
as is generally treated as the rate fixing day by market practice in the applicable interbank market, as determined by the Administrative
Agent (in consultation with the Borrower Representative); provided that to the extent such market practice is not administratively
feasible for the Administrative Agent, the Rate Determination Date shall be such other day as is reasonably determined by the Administrative
Agent (in consultation with the Borrower Representative).


 


“Rating Agency”:
S&P, Moody’s or any other nationally recognized rating agency selected by the Borrower Representative and approved by
the Administrative Agent in writing.


 






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“Ratio Debt”:
as defined in Section 7.2(a).


 


“Realizable
Assets”: as defined in Section 8.12(d).


 


“Recalculation”:
as defined in Section 3.10(a).


 


“Receivables
Fees”: distributions or payments made directly or by means of discounts with respect to any participation interest issued
or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables
Financing.


 


“Receivables
Financing”: any transaction or series of transactions that may be entered into by UK Holdco or any Subsidiary of UK Holdco
pursuant to which UK Holdco or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Receivables Subsidiary
(in the case of a transfer by UK Holdco or any of its Subsidiaries), and (b) any other Person (in the case of a transfer by
a Receivables Subsidiary), or may grant a security interest in, any accounts receivable (whether now existing or arising in the
future) of UK Holdco or any of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing
such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds
of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily
granted in connection with asset securitization transactions involving accounts receivable and any Hedging Obligations entered
into by UK Holdco or any such Subsidiary in connection with such accounts receivable.


 


“Receivables
Repurchase Obligation”: any obligation of a seller of receivables in a Qualified Receivables Financing to repurchase
receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a
receivable or portion thereof becoming subject to any asserted defense, dispute, off-set or counterclaim of any kind as a result
of any action taken by, any failure to take action by or any other event relating to the seller.


 


“Receivables
Subsidiary”: a Wholly Owned Restricted Subsidiary of UK Holdco (or another Person formed for the purposes of engaging
in a Qualified Receivables Financing with UK Holdco in which UK Holdco or any Subsidiary of UK Holdco makes an Investment and to
which UK Holdco or any Subsidiary of UK Holdco transfers accounts receivable and related assets) which engages in no activities
other than in connection with the financing of accounts receivable of UK Holdco and its Subsidiaries, all proceeds thereof and
all rights (contractual or other), collateral and other assets relating thereto, and any business or activities incidental or related
to such business, and which is designated by the Borrower Representative as a Receivables Subsidiary and:


 


(a)            no
portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by UK Holdco or
any other Restricted Subsidiary of UK Holdco (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness)
pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates UK Holdco or any other Restricted Subsidiary
of UK Holdco in any way other than pursuant to Standard Securitization Undertakings, or (iii) subjects any property or asset
of UK Holdco or any other Restricted Subsidiary of UK Holdco, directly or indirectly, contingently or otherwise, to the satisfaction
thereof, other than pursuant to Standard Securitization Undertakings,


 


(b)            with
which neither UK Holdco nor any other Restricted Subsidiary of UK Holdco has any material contract, agreement, arrangement or understanding
other than on terms which UK Holdco reasonably believe to be no less favorable to UK Holdco or such Restricted Subsidiary than
those that might be obtained at the time from Persons that are not Affiliates of UK Holdco, and


 






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(c)            to
which neither UK Holdco nor any other Restricted Subsidiary of UK Holdco has any obligation to maintain or preserve such entity’s
financial condition or cause such entity to achieve certain levels of operating results.


 


Any such designation
by the Borrower Representative shall be evidenced to the Administrative Agent by delivering to the Administrative Agent an Officer’s
Certificate signed on behalf of the Borrower Representative certifying that such designation complied with the foregoing conditions.


 


“Receiver”:
any receiver and manager or administrative receiver (or an equivalent officer in any jurisdiction) of the whole or any part of
the Collateral.


 


“Reclassifiable
Item”: as defined in Section 1.9(c).


 


“Recovery
Event”: any settlement of or payment in respect of any property or casualty insurance claim or any condemnation, eminent
domain or similar proceeding relating to any asset of any Group Member.


 


“Reference
Period”: (a) for purposes of determining actual compliance with Section 7.1, the period beginning on
the first day of the most recently completed period of four consecutive fiscal quarters for which the financial statements and
certificates required by Section 6.1(a) or (b), as the case may be, have been or were required to have
been delivered and ending on the last day of such four consecutive fiscal quarter period and (b) for any other purpose, the
period beginning on the first day of the most recently completed period of four consecutive fiscal quarters for which the financial
statements and certificates required by Section 6.1(a) or (b), as the case may be, have been or were required
to have been delivered or, if earlier, are internally available and, in each case, ending on the last day of such four consecutive
fiscal quarter period; it being understood and agreed that prior to the first delivery (or required delivery) of financial statements
under Section 6.1(a) or (b), as the case may be, “Reference Period” means the period of four
consecutive fiscal quarters most recently ended for which financial statements are available.


 


“Refinance”:
in respect of any Indebtedness, to refinance, discharge, redeem, replace, defease, refund, extend, renew or repay any Indebtedness
with the proceeds of other Indebtedness, or to issue other Indebtedness, in exchange or replacement for, such Indebtedness in whole
or in part; “Refinanced” and “Refinancing” shall have correlative meanings.


 


“Refinanced
Credit Agreement Debt”: as defined in the definition of “Permitted Credit Agreement Refinancing Debt.”


 


“Refinanced
Debt”: as defined in the definition of “Permitted Refinancing Requirements.”


 


“Refinancing
Amendment”: an amendment to this Agreement executed by each of (a) the Borrower Representative and any applicable
Borrower, (b) the Administrative Agent and (c) each Additional Lender and Lender that agrees to provide any portion of
the Permitted Credit Agreement Refinancing Debt being incurred pursuant thereto, in accordance with Section 2.26.


 


“Refinancing
Arranger”: any Person (who may be the Administrative Agent, if it so agrees) that is not an Affiliate of any Borrower
appointed by the Borrower Representative, after consultation with the Administrative Agent, as the arranger of any Permitted Credit
Agreement Refinancing Debt.


 


“Refinancing
Revolving Debt”: any First Priority Refinancing Revolving Facility, Second Priority Refinancing Revolving Facility or
Unsecured Refinancing Revolving Facility.


 






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“Refinancing
Term Debt”: Indebtedness under any First Priority Refinancing Term Facility, Second Priority Refinancing Term Facility
or Unsecured Refinancing Term Facility.


 


“Refunding
Capital Stock”: as defined in Section 7.3(b)(ii).


 


“Register”:
as defined in Section 11.6(b)(vi).


 


“Registered
Equivalent Notes”: with respect to any notes originally issued in a Rule 144A or other private placement transaction
under the Securities Act of 1933 (or pursuant to similar rules in any jurisdiction outside of the United States), substantially
identical notes (having the same Guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an exchange offer registered
with the SEC (or any securities regulator outside of the United States).


 


“Regulated
Bank”: an Approved Commercial Bank that is (i) a U.S. depository institution the deposits of which are insured by
the Federal Deposit Insurance Corporation; (ii) a corporation organized under section 25A of the U.S. Federal Reserve Act
of 1913; (iii) a branch, agency or commercial lending company of a foreign bank operating pursuant to approval by and under
the supervision of the Board under 12 CFR part 211; (iv) a non-U.S. branch of a foreign bank managed and controlled by a U.S.
branch referred to in clause (iii); or (v) any other U.S. or non-U.S. depository institution or any branch, agency or similar
office thereof supervised by a bank regulatory authority in any jurisdiction.


 


“Regulation
U”: Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder
or thereof.


 


“Regulation
X”: Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder
or thereof.


 


“Reimbursement
Obligation”: the obligation of the Revolving Borrowers or the Borrower Representative (on behalf of any Revolving Borrower)
to reimburse the Issuing Lenders pursuant to Section 3.5 for amounts drawn under Letters of Credit.


 


“Reinvestment
Deferred Amount”: with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by any Loan Party
in connection therewith that are subject to prepayment in accordance with Section 2.11(c) but not applied to prepay
the Term Loans pursuant to Section 2.11(c) as a result of the determination by the Borrower Representative to
reinvest such Net Cash Proceeds.


 


“Reinvestment
Event”: as defined in Section 2.11(c).


 


“Reinvestment
Prepayment Amount”: with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any
amount expended prior to the relevant Reinvestment Prepayment Date to acquire, replace, reconstruct or repair assets useful in
the business of UK Holdco and the Restricted Subsidiaries or in connection with a Permitted Acquisition or other Investment permitted
hereunder.


 


“Reinvestment
Prepayment Date”: with respect to any Reinvestment Event, the earlier of (a) the date occurring 450 days after such
Reinvestment Event (or, if later, 180 days after the date UK Holdco or a Restricted Subsidiary has entered into a binding commitment
to reinvest the Net Cash Proceeds of such Reinvestment Event prior to the expiration of such 450 day period) and (b) the date
on which the Borrower Representative shall have notified the Administrative Agent in writing that it has determined not to acquire,
replace, reconstruct or repair assets useful in the business of UK Holdco and the Restricted Subsidiaries or in connection with
a Permitted Acquisition or other Investment permitted hereunder.


 






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“Related Business
Assets”: assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any
assets received by UK Holdco or a Restricted Subsidiary in exchange for assets transferred by UK Holdco or a Restricted Subsidiary
will not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities
of such Person, such Person would become a Restricted Subsidiary.


 


“Related Parties”:
with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and advisors
of such Person and of such Person’s Affiliates.


 


“Relevant
Governmental Body”: 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 for the purpose of recommending a
benchmark rate to replace LIBOR in loan agreements similar to this Agreement.


 


“Relevant
Jurisdiction”: in relation to a Loan Party:


 


(a)            the
jurisdiction under whose laws that Loan Party is incorporated or organized as at the Closing Date or as at the date on which that
Loan Party becomes party to this Agreement (as the case may be);


 


(b)            any
jurisdiction where it conducts its business; and


 


(c)            any
jurisdiction where any asset subject to or intended to be subject to the Liens to be created by it is situated.


 


“Reply Amount”:
as defined in the definition of “Dutch Auction.”


 


“Reportable
Event”: any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the thirty
day notice period is waived under subsections .27, .28, .29, .30, .31, .32, .34 or .35 of PBGC Reg. § 4043.


 


“Repricing
Indebtedness”: as defined in the definition of “Repricing Transaction.”


 


“Repricing
Premium”: as defined in Section 2.10(b).


 


“Repricing
Transaction”: other than in the context of a transaction involving a Change of Control, the financing of any Significant
Acquisition or any Transformative Disposition (i) the repayment, prepayment, refinancing, substitution or replacement of all
or a portion of the Initial Term Loans with the incurrence of any broadly syndicated pari passu secured term loan “B”
credit facility denominated in the same currency (“Repricing Indebtedness”) having an Effective Yield that is
less than the Effective Yield of the Initial Term Loans and (ii) any amendment, waiver, consent or modification to this Agreement
that would reduce the Effective Yield of the Initial Term Loans; provided that the primary purpose (as determined by the
Borrower Representative in good faith) of such repayment, prepayment, refinancing, substitution, replacement, amendment, waiver,
consent or modification was to reduce the Effective Yield of the Initial Term Loans.


 


“Required
Lenders”: at any time, non-Defaulting Lenders holding more than 50% of (a) until the Closing Date, the Commitments
then in effect and (b) thereafter, the sum of (i) the aggregate Outstanding Amount of all Term Loans at such time, (ii) the
Total Incremental Term Commitments then in effect and (iii) the Total Revolving Commitments then in effect or, if the Revolving
Commitments have been terminated, the Total Revolving Extensions of Credit at such time.


 






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“Requirement
of Law”: as to any Person, any law, treaty, rule or regulation or determination of an arbitrator or a court or other
Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or
any of its property is subject.


 


“Responsible
Officer”: the chief executive officer, representative, director, manager, president, vice president, executive vice president,
chief financial officer, treasurer or assistant treasurer, secretary or assistant secretary, an authorized signatory, an attorney-in-fact
(to the extent empowered by the board of directors/managers of Holdings, UK Holdco or the Borrower Representative), or other similar
officer of a Loan Party (or of its general partner, managing member or sole member, if applicable) of the applicable Loan Party,
but in any event, with respect to financial matters, the chief financial officer, treasurer, controller or comptroller (or other
officer or director with equivalent duties), and solely for purposes of notices given pursuant to Section 2, any other
officer or employee 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.


 


“Restricted”:
when referring to cash or Cash Equivalents of UK Holdco and the Restricted Subsidiaries, means that such cash or Cash Equivalents
appear (or would be required to appear) as “restricted” on the consolidated balance sheet of UK Holdco.


 


“Restricted
Debt Payments”: as defined in Section 7.3(a)(iii).


 


“Restricted
Investment”: an Investment other than a Permitted Investment.


 


“Restricted
Payments”: as defined in Section 7.3(a)(iv). The amount of any Restricted Payment (other than in cash), other
than any Restricted Investment, shall be the Fair Market Value on the applicable date of determination of the assets or securities
proposed to be transferred or issued pursuant to such Restricted Payment.


 


“Restricted
Subsidiary”: any Subsidiary of UK Holdco other than any Unrestricted Subsidiary; provided, however, that
upon a Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted
Subsidiary”.


 


“Retained
Declined Proceeds”: as defined in Section 2.11(f).


 


“Retired Capital
Stock”: as defined in Section 7.3(b)(ii).


 


“Return Bid”:
as defined in the definition of “Dutch Auction.”


 


“Revolving
Borrower”: as defined in the recitals hereto.


 


“Revolving
Borrowing”: a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurocurrency
Loans, having the same Interest Period made by each of the Revolving Lenders.


 


“Revolving
Commitment”: as to any Lender, the obligation of such Lender, if any, to make Revolving Loans and participate in Swingline
Loans and Letters of Credit in an aggregate principal and/or face amount not to exceed the amount set forth under the heading “Revolving
Commitment” opposite such Lender’s name on Schedule 1.1A-1 or in the Assignment and Assumption, Refinancing
Amendment or Incremental Amendment pursuant to which such Lender became a party hereto, as applicable, as the same may be changed
from time to time pursuant to the terms hereof. The original amount of the Total Revolving Commitments is the Dollar Amount of
$250,000,000.


 






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“Revolving
Commitment Increase”: as defined in Section 2.25(a).


 


“Revolving
Commitment Increase Lender”: as defined in Section 2.25(d).


 


“Revolving
Commitment Period”: the period from and including the Closing Date to but excluding the Revolving Termination Date.


 


“Revolving
Excess”: as defined in Section 2.11(e).


 


“Revolving
Extensions of Credit”: as to any Revolving Lender at any time to an amount equal to the sum of (a) the aggregate
Outstanding Amount of all Revolving Loans held by such Lender at such time, (b) such Lender’s Revolving Percentage of
the aggregate Outstanding Amount of all L/C Obligations at such time and (c) such Lender’s Revolving Percentage of the
aggregate Outstanding Amount of all Swingline Loans at such time.


 


“Revolving
Facility”: any Class of Revolving Commitments and the extensions of credit made thereunder, as the context may require.


 


“Revolving
Lender”: each Lender that has a Revolving Commitment or that holds Revolving Loans.


 


“Revolving
Loan Note”: a promissory note substantially in the form of Exhibit F-1.


 


“Revolving
Loans”: as defined in Section 2.4(a).


 


“Revolving
Percentage”: as to any Revolving Lender at any time, the percentage which such Lender’s Revolving Commitment then
constitutes of the Total Revolving Commitments or, at any time after the Revolving Commitments shall have expired or terminated,
the percentage which the aggregate Outstanding Amount of such Lender’s Revolving Loans at such time constitutes of the aggregate
Outstanding Amount all Revolving Loans at such time; provided that in the event that the Revolving Loans are paid in full
prior to the reduction to zero of the Total Revolving Extensions of Credit, the Revolving Percentages shall be determined in a
manner designed to ensure that the other outstanding Revolving Extensions of Credit shall be held by the Revolving Lenders on a
comparable basis.


 


“Revolving
Termination Date”: the fifth anniversary of the Closing Date.


 


“Rule 3-16
Capital Stock”: the Capital Stock (or any portion thereof) of any Subsidiary of Holdings to the extent the granting of
a security interest thereon would create the requirement for Holdings or any direct or indirect parent company thereof to file
separate financial statements of such Subsidiary with the SEC (or any other governmental authority) pursuant to Rule 3-10
or 3-16 of Regulation S-X under the Securities Act (or any successor regulation) or any other requirement of law in effect from
time to time.


 


“S&P”: Standard &
Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. and any successor to the rating agency
business thereof.


 


“Sale Leaseback
Transaction”: any arrangement with any Person or Persons, whereby in contemporaneous or substantially contemporaneous
transactions UK Holdco or any Restricted Subsidiary sells substantially all of its right, title and interest in any property and,
in connection therewith, UK Holdco or a Restricted Subsidiary acquires, leases or licenses back the right to use all or a material
portion of such property.


 






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“Sanctioned
Country”: as defined in Section 4.17(c).


 


“Sanctioned
Person”: (a) any Person listed in any Sanctions Laws-related list of designated persons maintained by OFAC (including
the designation as a “specially designated national” or “blocked person”), the U.S. Department of State,
the United Nations Security Council, the European Union, the United Kingdom or any EU member state, and (b) any Person owned
50% or more by any such Person or Persons.


 


“Sanctions
Laws”: the laws and regulations administered or enforced by the U.S. Government (including OFAC or the U.S. Department
of State), the United Nations Security Council, Canada, the European Union, the United Kingdom and any other relevant sanctions
authority.


 


“SEC”:
the Securities and Exchange Commission, any successor thereto and any analogous Governmental Authority.


 


“Second Priority
Refinancing Revolving Facility”: as defined in the definition of “Permitted Second Priority Refinancing Debt.”


 


“Second Priority
Refinancing Term Facility”: as defined in the definition of “Permitted Second Priority Refinancing Debt.”


 


“Secured Net
Leverage Ratio”: as of any date of determination for the most recently ended Reference Period or the Reference Period
otherwise specified herein, the ratio of (a) Consolidated Secured Indebtedness on such day, to (b) Consolidated EBITDA,
in each case of UK Holdco and its Restricted Subsidiaries, calculated on a Pro Forma Basis for such period.


 


“Secured Parties”:
the collective reference to the Administrative Agent, the Lenders (including each Issuing Lender in its capacity as such), any
Receiver and, so long as any Obligations (other than in respect of Specified Cash Management Agreements and Specified Swap Agreements)
are outstanding, any Qualified Counterparties and any Cash Management Providers.


 


“Securities
Act”: the Securities Act of 1933, as amended from time to time, and any successor statute.


 


“Security
Agreements”: collectively, the US Security Agreement, the US Pledge Agreement and each other security agreement and security
agreement supplement executed and delivered pursuant to Section 5.1(a), Section 6.9, Section 6.11,
Section 6.15 or Schedule 1.1C (as such schedule may be amended or supplemented from time to time in accordance
with the Agreed Security Principles), in each case as amended, restated, supplemented, replaced or otherwise modified from time
to time in accordance with its terms.


 






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“Security
Documents”: the collective reference to each Security Agreement, each Intellectual Property Security Agreement, those
certain foreign security and pledge agreements listed on Schedule 1.1C (as such schedule may be amended or supplemented
from time to time in accordance with the Agreed Security Principles), collateral assignments, security agreement supplements, security
agreements, pledge agreements or other similar agreements delivered to the Administrative Agent pursuant to Section 5.1(a),
Section 6.9, Section 6.11 or Section 6.15, and each of the other agreements, instruments or
documents that creates or purports to create a Lien to secure the Obligations.


 


“Security
Jurisdiction”: each of (a) the United States, any State thereof and the District of Columbia, (b) England and
Wales, (c) Luxembourg (solely with respect to the Lux Borrower) and (d) any other jurisdiction in which any Borrower
is organized (solely with respect to such Borrower).


 


“Senior Secured
Notes”: as defined in the preamble hereto.


 


“Senior Secured
Notes Indenture”: as defined in the preamble hereto.


 


“Senior Representative”:
with respect to any series of Permitted First Priority Refinancing Debt or Permitted Second Priority Refinancing Debt or any other
series of Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture
or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their
successors in such capacities.


 


“Significant
Acquisition”: an acquisition the result of which is that Consolidated EBITDA, determined on a Pro Forma Basis after giving
effect thereto, is equal to or greater than 125.0% of Consolidated EBITDA as of the most recently ended Reference Period immediately
prior to the consummation of such Permitted Acquisition, in each case with respect to UK Holdco and the Restricted Subsidiaries
based on the most recently ended Reference Period.


 


“Significant
Subsidiary”: at any date of determination, each Restricted Subsidiary that would be a “Significant Subsidiary”
within the meaning of Rule 1-02 under the Securities Act as such rule is in effect on the Closing Date.


 


“Similar Business”:
any business, service or other activity engaged in by UK Holdco, any of the Restricted Subsidiaries, or any direct or indirect
parent on the Closing Date and any business or other activities that are reasonably similar, ancillary, complementary or related
to, or a reasonable extension, development or expansion of, the businesses in which UK Holdco and the Restricted Subsidiaries are
engaged on the Closing Date.


 


“Single Employer
Plan”: any Plan that is subject to Title IV of ERISA, but that is not a Multiemployer Plan.


 


“SOFR”:
with respect to any day, 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) and, in each case, that has been selected or recommended by the Relevant Governmental Body.


 


“SOFR-Based
Rate”: SOFR or Term SOFR.


 


“Solvency
Certificate”: a certificate duly executed by a Responsible Officer substantially in the form of Exhibit I.


 


“Solvent”:
with respect to any Person and its Subsidiaries on a consolidated basis, means that as of any date of determination, (a) the
sum of the fair value of the assets of such Person will, as of such date, exceed the sum of all debts of such Person as of such
date, (b) the present fair saleable value of the assets of such Person will, as of such date, be greater than the amount that
will be required to pay the probable liability on existing debts of such Person as such debts become absolute and matured, (c) such
Person will not have, as of such date, an unreasonably small amount of capital with which to conduct any business in which it is
or is about to become engaged and (d) such Person does not intend to incur, or believe or reasonably should believe that it
will incur, debts beyond its ability to pay as they mature. For purposes of this definition, (i) “debt” means
liability on a “claim” and (ii) “claim” means any (x) right to payment, whether or not such a
right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable,
subordinated, secured or unsecured or (y) right to an equitable remedy for breach of performance if such breach gives rise
to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured,
disputed, undisputed, secured or unsecured. For purposes of this definition, the amount of any contingent, unliquidated and disputed
claim and any claim that has not been reduced to judgment 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 irrespective of whether such liabilities meet the criteria for accrual under the Financial Accounting Standards Board
Statement of Financial Accounting Standards No. 5.


 






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“Spain”:
the Kingdom of Spain.


 


“Spanish Borrower”:
a Borrower resident for tax purposes in Spain.


 


“Spanish Guarantor”:
a Guarantor resident for tax purposes in Spain.


 


“Spanish Loan
Party”: any Loan Party incorporated or organized under the laws of Spain, whose registered office/place of central administration
is in Spain and whose centre of main interest (as that term is used in Article 3(1) of the regulation (EU) 2015/848 of
the European Parliament and of the Council of 20 May 2015 (recast)) is in Spain.


 


“Spanish Qualifying
Lender”: in respect of a Spanish Borrower, a Lender which is beneficially entitled to interest payable to that Lender
in respect of any amounts hereunder and which is (a) a financial institution (entidad de crédito o establecimiento
financiero de crédito) resident for tax purposes in Spain as identified in paragraph (c) of article 61 of Spanish
Royal Decree 634/2015, of 10 July (Real Decreto 634/2015, de 10 de julio), as amended or restated; (b) a Spanish
tax resident securitisation fund as identified in paragraph (k) of article 61 of Spanish Royal Decree 634/2015, of 11 July (Real
Decreto 634/2015, de 10 de julio), as amended or restated; (c) a permanent establishment in Spain of a non-Spanish financial
institution, as identified in the second paragraph of article 8.1 of Spanish Royal Decree 1776/2004, of 30 July (Real Decreto
1776/2004, de 30 de julio), as amended or restated; (d) an EU Lender; or (e) a Spanish Treaty Lender.


 


“Spanish Tax
Deduction”: a deduction or withholding for, or on account of, Tax imposed by Spain from an interest payment under a Loan
Document.


 


“Spanish Treaty
Lender”: in respect of a Spanish Borrower, a Lender which (a) is treated as a resident of a Spanish Treaty State
for the purposes of such Spanish Treaty; (b) does not carry on a business in Spain through a permanent establishment with
which that Lender’s participation in the Loan is effectively connected; and (c) fulfils any other procedural conditions
which must be fulfilled under the Spanish Treaty by residents of that Spanish Treaty State for such residents to obtain full exemption
from taxation on interest imposed by Spain, subject to the completion of procedural formalities.


 


“Spanish Treaty
State”: a jurisdiction having a double taxation agreement (including, but not limited to, any protocol, exchange of letters,
memorandum of understanding, mutual agreement or any other agreement executed between the Governmental Authority of such jurisdiction
and Spain in connection with or under the provisions of such double taxation agreement) with Spain (a “Spanish Treaty”)
which makes provision for full exemption from tax imposed by Spain on interest.


 






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“Specified
Cash Management Agreement”: any Cash Management Agreement entered into by any Group Member, on the one hand, and any
Cash Management Provider, on the other hand.


 


“Specified
Class”: as defined in Section 2.28(a).


 


“Specified
Event of Default”: any Event of Default set forth under Section 9.1(a) or, with respect to a Borrower,
9.1(g).


 


“Specified
Swap Agreement”: any (i) Existing Swap Agreement and (ii) Swap Agreement entered into by any Group Member,
on the one hand, and any Qualified Counterparty (at the time entered into) on the other hand (unless otherwise designated by the
Borrower Representative).


 


“Sponsors”:
(i) Onex Corporation, Onex Partners IV LP, Onex Partners Manager LP and/or one or more other investment funds advised, managed
or controlled by Onex Corporation, and (ii) Baring Private Equity Asia GP VI, L.P. and the investment fund managed and controlled
by it, and, in each case (whether individually or as a group), their Affiliates and any investment funds that have granted to the
foregoing control in respect of their investment in UK Holdco and/or any of the Restricted Subsidiaries of UK Holdco, but, in any
event, excluding any of their respective portfolio companies.


 


“Standard
Securitization Undertakings”: representations, warranties, covenants, indemnities and guarantees of performance entered
into by UK Holdco or any Subsidiary of UK Holdco which the Borrower Representative has determined in good faith to be customary
in a Receivables Financing including, without limitation, those relating to the servicing of the assets of a Receivables Subsidiary,
it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking.


 


“Stated Maturity
Date” means, with respect to any security, the date specified in such security as the fixed date on which the final payment
of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision
providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency beyond
the control of the issuer unless such contingency has occurred).


 


“Sterling”,
 “GBP” and “£”: the lawful currency of the United Kingdom.


 


“Subject Subsidiary”:
as defined in Section 6.12.


 


“Subordinated
Indebtedness”: (a) with respect to any Borrower, any Indebtedness of any Borrower which is by its terms contractually
subordinated in right of payment to the Loans, and (b) with respect to any Guarantor, any Indebtedness of such Guarantor which
is by its terms contractually subordinated in right of payment to its Guarantee.


 


“Subsidiary”:
with respect to any Person (1) any corporation, partnership, limited liability company, unlimited liability company, association,
joint venture or other business entity (other than a partnership, joint venture or limited liability company) of which more than
50% of the total voting power of shares of stock or other ownership interests entitled (without regard to the occurrence of any
contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing
similar functions) having the power to direct or cause the direction of the management and policies thereof at the time owned or
controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof,
(2) any partnership, joint venture or limited liability company of which (x) more than 50% of the capital accounts, distribution
rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled,
directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether
in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary
of such Person is a controlling general partner or otherwise controls such entity and (3) any Person that is consolidated
in the consolidated financial statements of the specified Person in accordance with GAAP. Unless otherwise qualified, all references
to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of
Holdings.


 






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“Subsidiary
Guarantor”: the collective reference to each Restricted Subsidiary that is party to the Loan Documents as guarantors
of the Obligations, except to the extent released in accordance with this Agreement.


 


“Swap Agreement”:
any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or
settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial
or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of
these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided
by current or former directors, officers, employees or consultants of UK Holdco or any of its Subsidiaries shall be a Swap Agreement.


 


“Swap Obligation”:
as defined in the definition of “Excluded Swap Obligation.”


 


“Swingline
Borrowing”: a borrowing consisting of simultaneous Swingline Loans of the same Type.


 


“Swingline
Commitment”: the obligation of the Swingline Lender to make Swingline Loans in Dollars pursuant to Section 2.6
in an aggregate principal amount at any one time outstanding not to exceed $25,000,000.


 


“Swingline
Lender”: Bank of America, N.A. and/or any other Lender under the Revolving Facility approved by the Borrower Representative
and the Administrative Agent that agrees in writing to act in such capacity.


 


“Swingline
Loan Note”: a promissory note substantially in the form of Exhibit F-2.


 


“Swingline
Loans”: as defined in Section 2.6(a).


 


“Swingline
Participation”: as defined in Section 2.6(a).


 


“Swiss Francs”
or “CHF”: the lawful currency of Switzerland.


 


“TARGET2”:
the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilizes a single shared platform
and which was launched on November 19, 2007.


 


“TARGET Day”:
any day on which TARGET2 (or, if such payment system ceases to be operative, such other payment system, if any, determined
by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro.


 


“Taxes”:
as defined in Section 2.19(a).


 


“Term Borrowers”:
as defined in the preamble hereto.


 






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“Term Borrowing”:
a borrowing consisting of simultaneous Term Loans of the same Type.


 


“Term Commitment”:
as to any Lender, (i) the obligation of such Lender, if any, to make a Term Loan to the Term Borrowers in a principal amount
not to exceed the amount set forth under the heading “Term Commitment” opposite such Lender’s name on Schedule 1.1A-1,
(ii) the Incremental Term Commitments, if any, issued after the Closing Date pursuant to Section 2.25 or (iii) Other
Term Commitments, if any, issued after the Closing Date pursuant to a Refinancing Amendment entered into pursuant to Section 2.26.
The original aggregate principal amount of the Term Commitments is $900,000,000.


 


“Term Facility”:
any Class of Term Loans, as the context may require.


 


“Term Lenders”:
each Lender that has a Term Commitment or that holds a Term Loan.


 


“Term Loan”:
an Initial Term Loan, an Other Term Loan or an Incremental Term Loan, as the context requires.


 


“Term Loan
Maturity Date”: the seventh anniversary of the Closing Date.


 


“Term Loan
Note”: a promissory note substantially in the form of Exhibit F-3, as it may be amended, supplemented or
otherwise modified from time to time.


 


“Term Loan Purchase Amount”:
as defined in the definition of “Dutch Auction.”


 


“Term Percentage”:
as to any Term Lender at any time, the percentage which such Lender’s Term Commitment then constitutes of the aggregate Term
Commitments (or, at any time after the Closing Date, the percentage which the aggregate Outstanding Amount of such Lender’s
Term Loans at such time constitutes of the aggregate Outstanding Amount of all Term Loans at such time).


 


“Term SOFR”:
the forward-looking term rate for any period that is approximately (as determined by 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 selected
by the Administrative Agent from time to time in its reasonable discretion in consultation with the Borrower Representative.


 


“Termination
Date”: the date on which all Commitments have been terminated and the principal of and interest on each Loan, all fees
and all other expenses or amounts payable under any Loan Document shall have been paid in full (other than contingent indemnification
and reimbursement obligations for which no claim has been made) and all Letters of Credit have been canceled, have expired or have
been Collateralized or back-stopped by a letter of credit or otherwise in a manner reasonably satisfactory to the relevant Issuing
Lender or deemed reissued under another agreement in a manner reasonably satisfactory to the Administrative Agent and the relevant
Issuing Lender.


 


“Total Net
Leverage Ratio”: as of any date of determination for the most recently ended Reference Period or the Reference Period
otherwise specified herein, the ratio of (a) Consolidated Total Indebtedness on such day, to (b) Consolidated EBITDA,
in each case of UK Holdco and its Restricted Subsidiaries, calculated on a Pro Forma Basis for such period.


 


“Total Incremental
Term Commitments”: at any time, the aggregate Dollar Amount of the Incremental Term Commitments then in effect.


 






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“Total Revolving
Commitments”: at any time, the aggregate Dollar Amount of the Revolving Commitments then in effect.


 


“Total Revolving
Extensions of Credit”: at any time, the aggregate Outstanding Amount of the Revolving Extensions of Credit of the Revolving
Lenders at such time.


 


“TRA Payment”:
as defined in the preamble hereto.


 


“Transactions”:
(a) the issuance and sale of the Senior Secured Notes on or prior to the Closing Date, (b) the execution and delivery
of the Loan Documents to be entered into on the Closing Date and the funding of the Loans on the Closing Date, (c) the Closing
Date Refinancing, (d) the TRA Payment and (e) the payment of fees and expenses incurred in connection with the foregoing.


 


“Transferee”:
any Assignee or Participant.


 


“Transformative
Disposition”: any Asset Sale or other disposition by UK Holdco or any Restricted Subsidiary that is either (a) not
permitted by the terms of this Agreement immediately prior to the consummation of such Asset Sale or other disposition or (b) if
permitted by the terms of this Agreement immediately prior to the consummation of such Asset Sale or other disposition, would not
provide UK Holdco and its Restricted Subsidiaries with a durable capital structure following such consummation, as determined by
the Borrower Representative acting in good faith.


 


“Type”:
as to any Loan, its nature as an ABR Loan or a Eurocurrency Loan.


 


“UK Borrower”: UK Holdco
and/or an Additional Revolving Borrower incorporated in the United Kingdom.


 


“UK Holdco”:
as defined in the preamble hereto.


 


“UK Non-Bank
Lender”: (a) where a Revolving Lender or a Swingline Lender becomes a party to this Agreement on the Closing Date,
a Revolving Lender or a Swingline Lender listed as a UK Non-Bank Lender in Schedule 1.1A-1, and (b) where a Revolving
Lender or a Swingline Lender becomes a party to this Agreement after the Closing Date, a Revolving Lender or a Swingline Lender
which gives a UK Tax Confirmation in the Assignment and Assumption, Incremental Amendment or Refinancing Amendment pursuant
to which such Lender becomes a party hereto.


 


“UK Qualifying
Lender”: (a) a Revolving Lender or a Swingline Lender which is beneficially entitled to interest payable to that
Lender in respect of an advance under a Loan Document that is a Revolving Loan or a Swingline Loan (as applicable) and is (i) a
Revolving Lender or Swingline Lender (as applicable) (A) which is a bank (as defined for the purpose of section 879 of the
ITA 2007) making an advance under a Loan Document that is a Revolving Loan or a Swingline Loan (as applicable) and is within the
charge to United Kingdom corporation tax as respects any payments of interest made in respect of that advance or would be within
such charge as respects such payments apart from section 18A of the CTA 2009; or (B) in respect of an advance made under a
Loan Document that is a Revolving Loan or a Swingline Loan (as applicable) by a person that was a bank (as defined for the purpose
of section 879 of the ITA 2007) at the time that that advance was made and within the charge to United Kingdom corporation tax
as respects any payments of interest made in respect of that advance; or (ii) a Revolving Lender or a Swingline Lender which
is: (A) a company resident in the United Kingdom for United Kingdom tax purposes, or (B) a partnership each member of
which is (x) a company so resident in the United Kingdom or (y) a company not so resident in the United Kingdom which
carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable
profits (within the meaning of section 19 of the CTA 2009) the whole of any share of interest payable in respect of that advance
that falls to it by reason of Part 17 of the CTA 2009, or (C) a company not so resident in the United Kingdom which carries
on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of
that advance in computing the chargeable profits (within the meaning of section 19 of the CTA 2009) of that company; or (iii) a
UK Treaty Lender, or (b) a Revolving Lender or a Swingline Lender which is a building society (as defined for the purposes
of section 880 ITA) making an advance under a Loan Document that is a Revolving Loan or a Swingline Loan (as applicable).


 






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“UK Tax Confirmation”:
a confirmation in writing by a Revolving Lender or a Swingline Lender that the person beneficially entitled to interest payable
to that Revolving Lender or Swingline Lender in respect of an advance under a Loan Document that is a Revolving Loan or a Swingline
Loan (as applicable) is either (a) a company resident in the United Kingdom for United Kingdom tax purposes or (b) a
partnership each member of which is (i) a company so resident in the United Kingdom or (ii) a company not so resident
in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account
in computing its chargeable profits (within the meaning of section 19 of the CTA 2009) the whole of any share of interest payable
in respect of that advance that falls to it by reason of Part 17 of the CTA 2009 or (c) a company not so resident in
the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account
interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA 2009)
of that company.


 


“UK Tax Deduction”:
a deduction or withholding for, or on account of, Tax imposed by the United Kingdom from a payment under a Loan Document.


 


“UK Treaty”:
meaning assigned to such term in the definition of “UK Treaty State”.


 


“UK Treaty
Lender”: a Revolving Lender or a Swingline Lender which is (i) treated as a resident of a UK Treaty State for the
purposes of the relevant Treaty, (ii) does not carry on a business in the United Kingdom through a permanent establishment
with which that Lender's participation in the Loan is effectively connected, and (iii) fulfills any other conditions which
must be fulfilled under the relevant Treaty to obtain full exemption from Tax imposed by the United Kingdom on payments of interest.


 


“UK Treaty
State”: a jurisdiction having a double taxation agreement (a “Treaty”) with the United Kingdom (a
 “UK Treaty”) which makes provision for full exemption from Tax imposed by the United Kingdom on interest.


 


“Undisclosed
Administration”: in relation to a Lender or its direct or indirect 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 is subject to home jurisdiction supervision if applicable law requires
that such appointment is not to be publicly disclosed.


 


“Uniform Commercial
Code” or “UCC”: the Uniform Commercial Code (or any similar or equivalent legislation) as in effect
from time to time in any applicable jurisdiction.


 


“United Kingdom”
or “UK”: the United Kingdom of Great Britain and Northern Ireland.


 


“United States”:
the United States of America.


 






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“Unrestricted”:
when referring to cash or Cash Equivalents, means that such cash or Cash Equivalents are not Restricted.


 


“Unrestricted
Cash Amount”: on any date of determination, an amount equal to the sum of (a) the Unrestricted cash and Cash Equivalents
and (b) cash and Cash Equivalents restricted in favor of the Administrative Agent, the collateral agent in respect of the
Senior Secured Notes or any other administrative agent or collateral agent in respect of Obligations secured on a pari passu
basis with the Obligations, so long as the holders of such other Obligations do not have the benefit of a control agreement or
other equivalent method of perfection (unless (i) the Administrative Agent or Collateral Agent also has the benefit of a control
agreement or other equivalent method of perfection or (ii) such holders are bound by an Acceptable Intercreditor Agreement),
in each case of UK Holdco and its Restricted Subsidiaries on such date.


 


“Unrestricted
Subsidiary”: (i) any Subsidiary of UK Holdco designated by the Borrower Representative as an Unrestricted Subsidiary
pursuant to Section 6.12 subsequent to the Closing Date, (ii) any Subsidiary of an Unrestricted Subsidiary and
(iii) each Receivables Subsidiary designated by the Borrower Representative as an Unrestricted Subsidiary pursuant to Section 6.12
subsequent to the Closing Date. For the avoidance of doubt, no Borrower may be designated as an Unrestricted Subsidiary at any
time, and no Additional Revolving Borrower may be designated as an Unrestricted Subsidiary unless it shall have ceased to be an
Additional Revolving Borrower pursuant to Section 12.3 prior to the effectiveness of such designation as an Unrestricted
Subsidiary.


 


“Unsecured
Refinancing Revolving Facility”: as defined in the definition of “Permitted Unsecured Refinancing Debt.”


 


“Unsecured
Refinancing Term Facility”: as defined in the definition of “Permitted Unsecured Refinancing Debt.”


 


“US Borrowers”:
as defined in the recitals hereto.


 


“US Intellectual
Property Security Agreements”: collectively, each of the intellectual property security agreements among the Loan Parties
party thereto and the Administrative Agent, in each case substantially in the applicable form attached to the US Security Agreement.


 


“US Loan Party”:
any Loan Party organized under the laws of the United States, any state within the United States or the District of Columbia.


 


“US Pledge
Agreement”: the US Pledge Agreement dated as of the Closing Date among the Loan Parties party thereto and the Administrative
Agent, substantially in the form of Exhibit A-1.


 


“US Security
Agreement”: the US Security Agreement dated as of the Closing Date among the Loan Parties party thereto and the Administrative
Agent, substantially in the form of Exhibit A-2.


 


“US Subsidiary”:
any Subsidiary of UK Holdco organized under the laws of the United States, any state within the United States or the District of
Columbia.


 






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“VAT”:
(a) any tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added
tax (EC Directive 2006/112); and (b) any other tax of a similar nature, whether imposed in a member state of the European
Union in substitution for, or levied in addition to, such tax referred to in paragraph (a), or imposed elsewhere.


 


“Voting Stock”:
with respect to any Person as of any date, the Capital Stock of such Person that is at the time entitled to vote in the election
of the Board of Directors of such Person.


 


“Weighted
Average Life to Maturity”: when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be,
at any date, the quotient obtained by dividing (1) the sum of the products of the number of years from the date of determination
to the date of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to
such Disqualified Stock or Preferred Stock multiplied by the amount of such payment, by (2) the sum of all such payments;
provided that the effect of any prepayment shall be disregarded in making such calculation.


 


“Wholly Owned
Restricted Subsidiary”: any Wholly Owned Subsidiary that is a Restricted Subsidiary.


 


“Wholly Owned
Subsidiary”: any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other ownership interests
of which (other than directors’ qualifying shares or shares or interests required to be held by foreign nationals or other
third parties to the extent required by applicable law) shall at the time be owned by such Person or by one or more Wholly Owned
Subsidiaries of such Person.


 


“Write-Down
and Conversion Powers”: 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.


 


1.2            General
Interpretive Provisions.


 


(a)            Unless
otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Loan Documents
or any certificate or other document made or delivered pursuant hereto or thereto.


 


(b)            As
used herein and in the other Loan Documents, and any certificate or other document made or delivered pursuant hereto or thereto,
(i) accounting terms not defined in Section 1.1 and accounting terms partly defined in Section 1.1,
to the extent not defined, shall have the respective meanings given to them under GAAP, (ii) the words “include”,
 “includes” and “including” shall be deemed to be followed by the phrase “without limitation”,
(iii) the word “incur” shall be construed to mean incur, create, issue, assume or become liable in respect of
(and the words “incurred” and “incurrence” shall have correlative meanings), (iv) the words “asset”
and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, Capital Stock, securities, revenues, accounts, real property, leasehold interests and contract
rights, (v) the term “consolidated” with respect to any Person refers to such Person consolidated with the Restricted
Subsidiaries, and excludes from such consolidation any Unrestricted Subsidiary as if such Unrestricted Subsidiary were not an Affiliate
of such Person, (vi) references to agreements or other Contractual Obligations (including any of the Loan Documents) shall,
unless otherwise specified, be deemed to refer to such agreements or Contractual Obligations as amended, novated, supplemented,
restated, extended, amended and restated or otherwise modified from time to time, (vii) any reference to any Law in any Loan
Document shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing, superseding or
interpreting such Law, (viii) a debt instrument includes any equity or hybrid instrument to the extent characterized as indebtedness
and (ix) the words “ordinary course of business” or “ordinary course” shall, with respect to any Person,
be deemed to refer to items or actions that are consistent with industry practice or norms of such Person’s industry or such
Person’s past practice (it being understood that the sale of accounts receivable (and related assets) pursuant to supply-chain,
factoring or reverse factoring arrangements entered into by UK Holdco and its Restricted Subsidiaries shall be deemed to be in
the ordinary course of business so long as such accounts receivable (and related assets) are sold for cash in an amount not less
than 95% of the face amount thereof).


 






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(c)            The
words “hereof”, “herein” and “hereunder” and words of similar import, when used in this Agreement,
shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and clause, paragraph, Section,
Schedule and Exhibit references are to this Agreement unless otherwise specified.


 


(d)            The
meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms.


 


(e)            Unless
otherwise specified, all references herein to times of day shall be references to New York City time (daylight or standard, as
applicable).


 


(f)            Any
financial ratios required to be maintained by the Borrowers pursuant to 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).


 


(g)            Unless
otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter
of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms
of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of
such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such
increases, whether or not such maximum stated amount is in effect at such time.


 


1.3            Accounting.


 


(a)            For
purposes of all financial definitions and calculations in this Agreement, including the determination of Excess Cash Flow (i) there
shall be excluded for any period the effects of purchase accounting (including the effects of such adjustments pushed down to UK
Holdco and the Restricted Subsidiaries) in component amounts required or permitted by GAAP and related authoritative pronouncements
(including the effects of such adjustments pushed down to UK Holdco and the Restricted Subsidiaries), as a result of the Transactions,
any acquisition consummated prior to the Closing Date, any Permitted Acquisitions or other investments permitted hereunder, or
the amortization or write-off of any amounts thereof and (ii) effect shall not be given to (A) any election under Accounting
Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting
Standards Codification, International Accounting Standard or Financial Accounting Standard having a similar result or effect)
to value any Indebtedness or other liabilities of UK Holdco or any Subsidiary at “fair value,” as defined therein,
(B) any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20
(or any other Accounting Standards Codification, International Accounting Standard or Financial Accounting Standard having
a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness
shall at all times be valued at the full stated principal amount thereof or (C) the application of Accounting Standards Codification
480, 815, 805 and 718 (to the extent these pronouncements under Accounting Standards Codification 718 result in recording an equity
award as a liability on the consolidated balance sheet of UK Holdco and its Restricted Subsidiaries in the circumstance where,
but for the application of the pronouncements, such award would have been classified as equity). Any calculation or determination
in this Agreement that requires the application of GAAP across multiple quarters need not be calculated or determined using the
same accounting standard for each constituent quarter.


 






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(b)            Notwithstanding
anything to the contrary contained in this Agreement or in the definition of “Capitalized Lease Obligation”, unless
the Borrower Representative elects otherwise, all obligations of any Person that are or would have been treated as operating leases
for purposes of GAAP prior to the issuance by the Financial Accounting Standards Board on February 25, 2016 of an Accounting
Standards Update (the “ASU”) shall continue to be accounted for as operating leases (and not be treated as financing
or capital lease obligations or Indebtedness) for purposes of all financial definitions, calculations and deliverables under this
Agreement or any other Loan Document (including the calculation of Consolidated Net Income and Consolidated EBITDA) (whether or
not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations are required in
accordance with the ASU or any other change in accounting treatment or otherwise (on a prospective or retroactive basis or otherwise)
to be treated as or to be re-characterized as financing or capital lease obligations or otherwise accounted for as liabilities
in financial statements.


 


(c)            Interest
on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial
or accounting officer of the Borrower Representative to be the rate of interest implicit in such Capitalized Lease Obligation in
accordance with GAAP. Interest on any Indebtedness under a revolving credit facility computed on a pro forma basis may be computed
based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally
be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other
rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen
as the Borrower Representative may designate.


 


1.4            Limited
Condition Transactions Notwithstanding anything to the contrary herein (including in connection with any calculation
that is made on a Pro Forma Basis), in connection with any action being taken in connection with a Limited Condition Transaction,
for purposes of:


 


(a)            determining
compliance with any provision of this Agreement which (i) requires the calculation of any financial ratio or test (including
the First Lien Net Leverage Ratio, Secured Net Leverage Ratio, Total Net Leverage Ratio and Interest Coverage Ratio), (ii) requires
the absence of any Default or Event of Default (or any type of Default or Event of Default) and/or (iii) requires the accuracy
of any representation or warranty; or


 


(b)            determining
compliance with any basket or other condition set forth in this Agreement (including baskets measured as a percentage of Consolidated
EBITDA);


 






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in each case, at the option of the Borrower
Representative (the Borrower Representative’s election to exercise such option in connection with any Limited Condition Transaction,
a “LCT Election”), the date of determination of whether any such action is permitted hereunder shall be deemed
to be (A) in the case of any acquisition or other Investment (including by way of merger, amalgamation or consolidation),
any Asset Sale or any assumption or incurrence of Indebtedness or issuance of Preferred Stock or Disqualified Stock, or any transaction
relating thereto, the date (or on the basis of the financial statements for the most recently ended Reference Period at the time)
of entry into a binding letter of intent or the definitive agreements for such Limited Condition Transaction (or, solely in connection
with an acquisition (including by way of merger, amalgamation or consolidation) to which the United Kingdom City Code on Takeovers
and Mergers applies, the date on which a “Rule 2.7 Announcement” of a firm intention to make an offer is made),
(B) in the case of any Restricted Debt Payment, at the time (or on the basis of the financial statements for the most recently
ended Reference Period at the time) of delivery of notice with respect to such Restricted Debt Payment or (C) in the case
of any other Restricted Payment, at the time (or on the basis of the financial statements for the most recently ended Reference
Period at the time) of the declaration of such Restricted Payment (the applicable date determined pursuant to clause (A), (B) or
(C), the “LCT Test Date”), and if, after giving effect to the Limited Condition Transaction and the other transactions
to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) and, at the
election of the Borrower Representative, any other Limited Condition Transaction that has not been consummated but with respect
to which the Borrower Representative has made an LCT Election, on a Pro Forma Basis as if they had occurred at the beginning of
the most recently completed Reference Period ending prior to the LCT Test Date, UK Holdco or the Restricted Subsidiaries would
have been permitted to take such action on the relevant LCT Test Date in compliance with such ratio, test, basket or condition,
such ratio, test, basket or condition shall be deemed to have been complied with. For the avoidance of doubt, if the Borrower Representative
has made an LCT Election and any of the ratios, tests, baskets or conditions for which compliance was determined or tested as of
the LCT Test Date are exceeded as a result of fluctuations in any such ratio, test, basket or condition, including due to fluctuations
in Consolidated EBITDA at or prior to the consummation of the relevant transaction or action, such baskets, tests, ratios and conditions
will not be deemed to have been exceeded as a result of such fluctuations. The provisions of this Section 1.4 shall
also apply in respect of the incurrence of any Incremental Facility.


 


1.5            Currency
Equivalents Generally.


 


(a)            Any
amount specified in this Agreement (other than in Sections 2, 3, 10 and 11 or as set forth in clause
(b) of this Section) or any of the other Loan Documents to be in Dollars shall also include the equivalent of such amount
in any currency other than Dollars, such equivalent amount to be determined at the rate of exchange quoted by the Reuters World
Currency Page for the Alternative Currency at 11:00 a.m. (London time) on such day (or, in the event such rate does
not appear on any Reuters World Currency Page, by reference to such other publicly available service for displaying exchange rates
as may be agreed upon by the Administrative Agent and the Borrower Representative, or, in the absence of such agreement, such rate
shall instead be the arithmetic average of the spot rates of exchange of the Administrative Agent in the market where its foreign
currency exchange operations in respect of such currency are then being conducted, at or about 11:00 a.m. (New York City
time) on such date for the purchase of Dollars for delivery two Business Days later); provided that the determination of
any Dollar Amount shall be made in accordance with Section 2.29; provided that if any basket is exceeded solely
as a result of fluctuations in applicable currency exchange rates after the last time such basket was utilized, such basket will
not be deemed to have been exceeded solely as a result of such fluctuations in currency exchange rates.


 


(b)            For
purposes of determining the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio and the Total Net Leverage Ratio, amounts
denominated in a currency other than Dollars will be converted to Dollars for the purposes of (A) testing the covenant set
forth in Section 7.1, at the exchange rate used in preparing the applicable financial statements as of the last day
of the fiscal quarter for which such measurement is being made and (B) otherwise, at the option of the Borrower Representative,
the Exchange Rate as of the date of calculation or at the exchange rate used in preparing the applicable financial statements,
and at the option of the Borrower Representative in each case will, in the case of Indebtedness, reflect the currency translation
effects, determined in accordance with GAAP, of Swap Agreements permitted hereunder for currency exchange risks with respect to
the applicable currency in effect on the date of determination of the Dollar Amount of such Indebtedness.


 






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1.6            Change
in Currency.


 


(a)            Each
obligation of any Loan Party to make a payment denominated in the national currency unit of any member state of the European Union
that adopts the Euro as its lawful currency after the Closing Date shall be redenominated into Euro at the time of such adoption
(in accordance with the EMU Legislation). If, in relation to the currency of any such member state, the basis of accrual of interest
expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank
market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or
practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any
Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect,
with respect to such Borrowing, at the end of the then current Interest Period.


 


(b)            Each
provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time
to time specify in consultation with the Borrower Representative to be appropriate to reflect the adoption of the Euro by any member
state of the European Union and any relevant market conventions or practices relating to the Euro.


 


(c)            Each
provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from
time to time specify in consultation with the Borrower Representative to be appropriate to reflect a change in currency of any
other country and any relevant market conventions or practices relating to the change in currency.


 


1.7            Luxembourg
Law Terms.


 


Without prejudice to
the generality of any provision of this Agreement, in this Agreement where it relates to a Luxembourg Loan Party, a reference to:
(a) a winding-up, administration or dissolution includes, without limitation, bankruptcy (faillite), insolvency, voluntary
and judicial liquidation (liquidation volontaire et judiciare), composition with creditors (concordat préventif
de la faillite), moratorium or reprieve from payment (sursis de paiement), controlled management (gestion contrôlée),
or fraudulent conveyance (action paulienne), general settlement with creditors, reorganization or similar laws affecting
the rights of creditors generally; (b) a receiver, administrative receiver, administrator, trustee, custodian, sequestrator,
conservator or similar officer includes, without limitation, a juge délégué, commissaire, juge-commissaire,
mandatair ad hoc, administrateur, proviso ire, liquidateur or curateur; (c) a lien or security interest includes
any hypothèque, nantissement, gage, privilège, sûreté réelle, droit de rétention,
and any type of security in rem (sûreté réelle) or agreement or arrangement having a similar effect
and any transfer of title by way of security; (d) a person being unable to pay its debts includes that person being in a state
of cessation de paiements; (e) creditors process means an executory attachment (saisie exécutoire) or
conservatory attachment (saisie conservatoire); (f) a guarantee includes any garantie which is independent from
the debt to which it relates and excludes any suretyship (cautionnement) within the meaning of Articles 2011 and seq. of
the Luxembourg Civil Code; (g) by-laws or constitutional documents includes its up-to-date (restated) articles of association
(statuts coordonnés) and (h) a director or a manager includes an administrateur and a gérant.


 


1.8            Foreign
Guarantor Provisions. This Agreement and all of the other Loan Documents shall be subject in all respects to the Foreign
Guarantor Provisions set forth in Schedule 1.8 (as may be supplemented pursuant to Section 11.1 or as otherwise
agreed to by the Administrative Agent).


 






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1.9            Certain
Calculations.


 


(a)            For
purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any financial
ratio or financial test (including ‎Section 7.1 hereof, any First Lien Net
Leverage Ratio test, any Secured Net Leverage Ratio test, any Total Net Leverage Ratio test and/or any Interest Coverage Ratio
test) and/or the amount of Consolidated EBITDA or Consolidated Net Income, and irrespective of any use of the expression “at
any one time outstanding” (or any similar expression), such financial ratio, financial test or amount shall, subject to Section 1.4,
be calculated at the time such action is taken, such change is made, such transaction is consummated or such event occurs, as the
case may be, and no Default or Event of Default shall be deemed to have occurred solely as a result of a change in such financial
ratio, financial test or amount occurring after the time such action is taken, such change is made, such transaction is consummated
or such event occurs, as the case may be.


 


(b)            Notwithstanding
anything to the contrary herein, unless the Borrower Representative otherwise notifies the Administrative Agent, with respect to
any amount incurred or transaction entered into (or consummated) in reliance on a provision of this Agreement that does not require
compliance with a financial ratio or financial test (including any First Lien Net Leverage Ratio test, any Secured Net Leverage
Ratio test, any Total Net Leverage Ratio test and/or any Interest Coverage Ratio test) (any such amount, including any amount drawn
under the Revolving Facility or any other permitted revolving facility and any cap expressed as a percentage of Consolidated Net
Income or Consolidated EBITDA, a “Fixed Amount”) substantially concurrently with any amount Incurred or transaction
entered into (or consummated) in reliance on a provision of this Agreement that requires compliance with a financial ratio or financial
test (including any First Lien Net Leverage Ratio test, any Secured Net Leverage Ratio test, any Total Net Leverage Ratio test
and/or any Interest Coverage Ratio test) (any such amount, an “Incurrence-Based Amount”), it is understood and
agreed that (i) the incurrence of the Incurrence-Based Amount shall be calculated first without giving effect to any Fixed
Amount but giving full pro forma effect to the use of proceeds of such Fixed Amount and the related transactions and (ii) the
incurrence of the Fixed Amount shall be calculated thereafter. Unless the Borrower Representative elects otherwise, the Borrowers
shall be deemed to have used amounts under an Incurrence-Based Amount then available to the Borrowers prior to utilization of any
amount under a Fixed Amount then available to the Borrowers.


 


(c)            For
purposes of determining compliance at any time with Sections 7.2, 7.3, 7.5 and 7.7, in the event that
any Indebtedness, Preferred Stock, Disqualified Stock, Lien, Restricted Payment, Investment or disposition or portion thereof,
as applicable, at any time meets the criteria of more than one of the categories of transactions or items permitted pursuant to
any clause of such Sections 7.2 (other than Section 7.2(b)(i) in the case of Indebtedness incurred on the
Closing Date), ‎7.3, 7.5 or 7.7 (other than pursuant to clause (6) of
the definition of “Permitted Liens” as it relates to Section 7.2(b)(i) and clause (7)(i) of the
definition of “Permitted Liens”)‎ (each of the foregoing, including the categories
and items set forth in component definitions thereof, a “Reclassifiable Item”), the Borrower Representative,
in its sole discretion, may, from time to time, divide, classify or reclassify such Reclassifiable Item (or portion thereof) under
one or more clauses (or component definitions) of each such Section and will only be required to include such Reclassifiable
Item (or portion thereof) in any one category; provided that, upon delivery of any financial statements pursuant to ‎Section 6.1(a) or
‎(b) following the initial incurrence or making of any such Reclassifiable
Item, if such Reclassifiable Item could, based on such financial statements, have been incurred or made in reliance on ‎any
 “ratio-based” basket or exception, such Reclassifiable Item shall automatically be reclassified as having been incurred
or made under such “ratio-based” basket or exception (in each case, subject to any other applicable provision of such
 “ratio-based” basket or exception); provided, further, that Indebtedness shall be reclassified only to the extent
that any Lien in respect thereof would be permitted after such reclassification and any concurrent reclassification of such Lien.
It is understood and agreed that any Indebtedness, Preferred Stock, Disqualified Stock, Lien, Restricted Payment, Investment,
disposition and/or Affiliate Transaction need not be permitted solely by reference to one category under the applicable covenant,
but may instead be permitted in part under any combination thereof or under any other available exception.


 






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(d)            Notwithstanding
anything to the contrary herein, but subject to Sections 1.4 and ‎1.9(a) and
(c), all financial ratios and tests (including the Total Net Leverage Ratio, the First Lien Net Leverage Ratio, the Secured
Net Leverage Ratio and the Interest Coverage Ratio) and the amount of Consolidated Net Income and Consolidated EBITDA (other than,
for the avoidance of doubt, for purposes of calculating Excess Cash Flow) contained in this Agreement that are calculated with
respect to any Reference Period shall be calculated with respect to such Reference Period on a Pro Forma Basis.


 


(e)            For
purposes of determining compliance with ‎Section 7.2 or Section 7.7,
if any Indebtedness, Preferred Stock, Disqualified Stock or Lien is created or Incurred in reliance on a basket measured by reference
to a percentage of Consolidated EBITDA, and any refinancing or replacement thereof would cause the percentage of Consolidated EBITDA
to be exceeded if calculated based on the Consolidated EBITDA on the date of such refinancing or replacement, such percentage of
Consolidated EBITDA will be deemed not to be exceeded so long as the principal amount of such refinancing or replacement Indebtedness,
Preferred Stock, Disqualified Stock or other obligation does not exceed an amount sufficient to repay the principal amount of such
Indebtedness, Preferred Stock, Disqualified Stock or other obligation being refinanced or replaced, except by an amount equal to
(x) the amount necessary to pay accrued and unpaid interest, fees, underwriting discounts and expenses, including any premium
and defeasance costs Incurred in connection with such refinancing or replacement, (y) any existing commitments unutilized
thereunder and (z) additional amounts permitted to be Incurred under ‎‎Section 7.2.


 


1.10            Delaware
LLC Divisions. For all purposes under the Loan Documents, in connection with any Delaware LLC Division: (a) if any asset,
right, obligation or liability of any Person becomes the asset, right, obligation or liability of a Delaware Divided LLC, then
it shall be deemed to have been transferred from the original Person to the Delaware Divided LLC, and (b) if a Delaware Divided
LLC comes into existence, such Delaware Divided LLC shall be deemed to have been organized on the first date of its existence
by the holders of its Equity Interests at such time.


 


1.11            Interest
Rates. The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any
liability with respect to the administration, submission or any other matter related to the rates in the definition of
 “Eurodollar Rate” or with respect to any rate that is an alternative or replacement for or successor to any of
such rate (including, without limitation, any LIBOR Successor Rate) or the effect of any of the foregoing, or of any LIBOR
Successor Rate Conforming Changes.


 


SECTION 2.

AMOUNT AND TERMS OF COMMITMENTS


 


2.1            Term
Commitments. Subject to the terms and conditions hereof, each Term Lender severally agrees to make a single Term Loan to the
Term Borrowers on the Closing Date in Dollars and in an amount not to exceed the amount of the Term Commitment of such Lender
on the Closing Date. The Term Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower Representative
and notified to the Administrative Agent in accordance with Sections 2.2 and 2.12. The Term Borrowing
on the Closing Date shall consist of Term Loans made simultaneously by the Term Lenders in accordance with their respective Term
Commitments. The Term Commitments (excluding any Incremental Term Commitments or Other Term Commitments) shall automatically terminate
at 11:59 p.m. (New York City time) on the Closing Date. Amounts borrowed under this Section 2.1 and repaid or prepaid
may not be reborrowed.


 






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2.2            Procedure
for Borrowing Term Loans. The Borrower Representative (on behalf of the Borrowers under any Term Facility) shall give the
Administrative Agent irrevocable notice, substantially in the form of Exhibit H or such other form as 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), appropriately completed and signed by a Responsible Officer of the Borrower Representative (which
notice must be received by the Administrative Agent no later than (A) 11:00 a.m. (New York City time), one Business
Day prior to the anticipated Closing Date (which shall be a Business Day), in the case of ABR Loans and (B) 11:00 a.m. (New
York City time), three Business Days prior to the anticipated Closing Date, in the case of Eurocurrency Loans, in each case or
such shorter period as the Administrative Agent shall agree) requesting that the Term Lenders make the Initial Term Loans on the
Closing Date and specifying (i) the amount to be borrowed, (ii) the Type of Loans, (iii) the applicable Interest
Period, and (iv) instructions for remittance of the Term Loans to be borrowed. If the Borrower fails to specify the Type
of Initial Term Loans, they shall be made as ABR Loans. Notwithstanding the foregoing, such notices may be conditioned on the
occurrence of the Closing Date or, with respect to Incremental Term Loans, may be conditioned on the occurrence of any transaction
utilizing such Incremental Term Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Term Lender
thereof. Not later than 1:00 p.m. (New York City time) on the Closing Date, each such Term Lender shall make available to
the Administrative Agent at the Administrative Agent’s Office an amount in immediately available funds equal to the Term
Loan or Term Loans to be made by such Lender. Such borrowing will then be made available to the Term Borrowers by the Administrative
Agent crediting such account or by wire transfer as is designated in writing to the Administrative Agent by the Borrower Representative
(or as otherwise directed by the Borrower Representative), with the aggregate of the amounts made available to the Administrative
Agent by the Term Lenders and in like funds as received by the Administrative Agent.


 


2.3            Repayment
of Term Loans.


 


(a)            The
principal amount of the Initial Term Loans of each Term Lender shall be repaid by the Term Borrowers (i) on the last Business
Day of each March, June, September and December (commencing on March 31, 2020), in an amount equal to 0.25% of the
aggregate Outstanding Amount of the Initial Term Loans on the Closing Date (which payments shall be reduced as a result of the
application of prepayments in accordance with the order of priority set forth in Section 2.17(b)) and (ii) on
the Term Loan Maturity Date, in an amount equal to the aggregate Outstanding Amount on such date, together in each case with accrued
and unpaid interest on the principal amount to be paid to but excluding the date of such payment.


 


(b)            To
the extent not previously paid, (i) each Incremental Term Loan shall be due and payable on the Incremental Term Loan Maturity
Date applicable to such Incremental Term Loan, (ii) each Other Term Loan shall be due and payable on the maturity date thereof
as set forth in the Refinancing Amendment applicable thereto and (iii) each Extended Term Loan shall be due and payable on
the maturity date thereof as set forth in the Permitted Amendment applicable thereto together, in each case, with accrued and unpaid
interest on the principal amount to be paid to but excluding the date of payment.


 


(c)            The
Obligations of the Term Borrowers as Borrowers of the Term Loans, whether on account of principal, interest, fees or otherwise,
are joint and several.


 






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2.4            Revolving
Commitments.


 


(a)            Subject
to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving
Loans”) to the Revolving Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business
Day during the Revolving Commitment Period in an aggregate principal amount which, when added to such Lender’s Revolving
Percentage of the sum of (i) the aggregate Outstanding Amount of L/C Obligations at such time and (ii) the aggregate
Outstanding Amount of the Swingline Loans at such time, does not exceed the amount of such Lender’s Revolving Commitment.
During the Revolving Commitment Period the Revolving Borrowers may use the Revolving Commitments by borrowing, repaying or prepaying
the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving
Loans may from time to time be Eurocurrency Loans or, with respect to Revolving Loans denominated in Dollars, ABR Loans, as determined
by the applicable Revolving Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.12.


 


(b)            The
Revolving Borrowers shall repay all outstanding Revolving Loans on the Revolving Termination Date, together with accrued and unpaid
interest on the Revolving Loans, to but excluding the date of payment.


 


2.5            Procedure
for Borrowing of Revolving Loans. The Revolving Borrowers may borrow under the Revolving Commitments during the Revolving
Commitment Period on any Business Day, provided that the Borrower Representative (on behalf of the Revolving Borrowers)
shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to (a) 1:00
p.m. (New York City time), three Business Days prior to the requested Borrowing Date, in the case of Eurocurrency Loans denominated
in Dollars, Euros, Swiss Francs or Sterling or 1:00 p.m. (New York City time), four Business Days prior to the requested
Borrowing Date, in the case of Eurocurrency Loans denominated in Yen or Australian Dollars, or (b) 10:00 a.m. (New York
City time), on the requested Borrowing Date, in the case of ABR Loans), specifying (i) the amount and Type of Revolving Loans
to be borrowed, (ii) the currency in which the Revolving Loans to be borrowed are to be denominated, (iii) the requested
Borrowing Date, (iv) in the case of Eurocurrency Loans, the respective amounts of each such Type of Loan and the respective
lengths of the initial Interest Period therefor and (v) instructions for remittance of the applicable Loans to be borrowed;
provided, however, that if the Borrower Representative (on behalf of the Revolving Borrowers) wishes to request
Eurocurrency Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition
of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. (New
York City time) seven Business Days prior to the requested date of such Borrowing, whereupon the Administrative Agent shall give
prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them.
Not later than 11:00 a.m. (New York City time) four Business Days before the requested date of such Borrowing, in the case
of Eurocurrency Loans denominated in Dollars, Euros, Swiss Francs or Sterling, or five Business Days before the requested date
of such Borrowing, in the case of Eurocurrency Loans denominated in Yen or Australian Dollars, the Administrative Agent shall
notify the Borrower Representative (on behalf of the Revolving Borrowers) (which notice may be by telephone) whether or not the
requested Interest Period has been consented to by all the Lenders. Each borrowing under the Revolving Commitments shall be in
an amount equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if the
then aggregate Available Revolving Commitments of the Lenders are less than $1,000,000, such lesser amount) and (y) in the
case of Eurocurrency Loans, (1) if denominated in Dollars, $1,000,000 or a whole multiple of $500,000 in excess thereof or
(2) if denominated in an Alternative Currency, the Dollar Amount of €1,000,000 or a whole multiple of the Dollar Amount
of €500,000 in excess thereof; provided that the Swingline Lender may request, on behalf of the Revolving Borrowers,
borrowings under the Revolving Commitments that are ABR Loans in other amounts pursuant to Section 2.7. Upon receipt
of any such notice from the Borrower Representative, the Administrative Agent shall promptly notify each Revolving Lender thereof.
Each Revolving Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent
at the Administrative Agent’s Office for the applicable currency for the account of the Revolving Borrower designated in
the applicable notice of Borrowing prior to 1:00 p.m. (New York City time) for Borrowings denominated in Dollars and prior
to 8:00 a.m. (New York City time) for Borrowings denominated in an Alternative Currency on the Borrowing Date requested by
the applicable Revolving Borrower in funds immediately available to the Administrative Agent. Such borrowing will then be made
available to the applicable Revolving Borrower by the Administrative Agent crediting such account or by wire transfer as is designated
in writing to the Administrative Agent by the Borrower Representative (on behalf of the applicable Revolving Borrower), with the
aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by
the Administrative Agent.


 






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2.6            Swingline
Commitment.


 


(a)            Subject
to the terms and conditions hereof and in reliance upon the agreements of the other Lenders set forth in this Section 2.6,
the Swingline Lender agrees to make a portion of the credit otherwise available to the Revolving Borrowers under the Revolving
Commitments from time to time during the Revolving Commitment Period by making swingline loans in Dollars (“Swingline
Loans”) to the Revolving Borrowers; provided that (i) the aggregate Outstanding Amount of Swingline Loans
at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the aggregate Outstanding Amount of
Swingline Loans at any time, when aggregated with the Outstanding Amount of the Swingline Lender’s other Revolving Loans,
may exceed the Swingline Commitment then in effect), (ii) the Revolving Borrowers shall not request, and the Swingline Lender
shall not make, any Swingline Loan if, after giving effect to the making of such Swingline Loan, the aggregate amount of the Available
Revolving Commitments of the Lenders would be less than zero and (iii) no Revolving Borrower shall use the proceeds of any
Swingline Loan to refinance any outstanding Swingline Loan (whether borrowed by it or another Revolving Borrower). During the Revolving
Commitment Period, the Revolving Borrowers may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance
with the terms and conditions hereof. Swingline Loans shall be ABR Loans only. Immediately upon the making of a Swingline Loan,
each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swingline Lender
a risk participation in such Swingline Loan (each a “Swingline Participation”) in an amount equal to the product
of such Revolving Lender’s Revolving Percentage of such Swingline Loan.


 


(b)            The
Revolving Borrowers shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earliest
to occur of (i) the date ten Business Days after such Loan is made and (ii) the Revolving Termination Date.


 


2.7            Procedure
for Swingline Borrowing; Refunding of Swingline Loans.


 


(a)            Swingline
Borrowings. Whenever a Revolving Borrower desires that the Swingline Lender make a Swingline Loan, the Borrower Representative
(on behalf of the applicable Revolving Borrower) shall give the Swingline Lender irrevocable facsimile notice (which facsimile
notice must be received by the Swingline Lender not later than 1:00 p.m. (New York City time) on the proposed Borrowing Date)
confirmed promptly in writing substantially in the form of Exhibit L or such other form as approved by the Administrative
Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative
Agent) (a “Swingline Loan Notice”), appropriately completed and signed by a Responsible Officer of the Borrower
Representative, specifying (i) the amount to be borrowed and (ii) the requested Borrowing Date (which shall be a Business
Day during the Revolving Commitment Period). Promptly after receipt by the Swingline Lender of any Swingline Loan Notice, the Swingline
Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received
such Swingline Loan Notice and, if not, the Swingline Lender will notify the Administrative Agent (by telephone or in writing)
of the contents thereof. Each borrowing under the Swingline Commitment shall be in an amount equal to $1,000,000 or a whole multiple
of $500,000 in excess thereof. Unless the Swingline Lender has received notice (by telephone or in writing) from the Administrative
Agent (including at the request of any Revolving Lender) prior to 2:00 p.m. on the date of the proposed Swingline Borrowing
(A) directing the Swingline Lender not to make such Swingline Loan as a result of the limitations set forth in the first proviso
to the first sentence of Section 2.6(a), or (B) that one or more of the applicable conditions specified in Section 5.2
is not then satisfied, then, subject to the terms and conditions hereof, the Swingline Lender will, not later than 3:00 p.m. on
the borrowing date specified in such Swingline Loan Notice, make the amount of its Swingline Loan available to the Borrower Representative
(or the applicable Revolving Borrower specified in the notice of Borrowing) in an amount in immediately available funds equal to
the amount of the Swingline Loan to be made by the Swingline Lender by crediting such account on the books of the Swingline Lender
in immediately available funds or by wire transfer as is designated in writing to the Swingline Lender by the Borrower Representative


 






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(b)            Refinancing
of Swingline Loans.


 


(i)            The
Swingline Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower Representative (which hereby
irrevocably authorizes the Swingline Lender to so request on its behalf), that each Revolving Lender make an ABR Revolving Loan
to the Borrower Representative in an amount equal to such Revolving Lender’s Revolving Percentage of the amount of all Swingline
Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Borrowing Request
for purposes hereof) and in accordance with the requirements of Section 2.4, without regard to the minimum and multiples specified
therein for the principal amount of ABR Loans, but subject to the unutilized portion of the Revolving Commitments and the conditions
set forth in Section 5.2. The Swingline Lender shall furnish the Borrower Representative with a copy of the applicable Borrowing
Request promptly after delivering such notice to the Administrative Agent. Each Revolving Lender shall make an amount equal to
its Revolving Percentage of the amount specified in such Borrowing Request available to the Administrative Agent in immediately
available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan)
for the account of the Swingline Lender at the Administrative Agent’s office not later than 1:00 p.m. on the day specified
in such Borrowing Request, whereupon, subject to Section 2.7(b)(ii), each Revolving Lender that so makes funds available shall
be deemed to have made an ABR Loan to the applicable Borrower in such amount. The Administrative Agent shall remit the funds so
received to the Swingline Lender.


 


(ii)           If
for any reason the Swingline Loan cannot be refinanced by such a Revolving Loan in accordance with Section 2.7(b)(i), the
request for ABR Loans submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline Lender
that each of the Revolving Lenders fund its Swingline Participation in the relevant Swingline Loans, and each Revolving Lender’s
payment to the Administrative Agent for the account of the Swingline Lender pursuant to Section 2.7(b)(i) shall be deemed
payment in respect of each such Revolving Lender’s Swingline Participations in the Outstanding Amount of all Swingline Loans.


 


(iii)          If
any Revolving Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required
to be paid by such Lender pursuant to the foregoing provisions of this Section 2.7(b) by the time specified in Section 2.7(b)(i),
the Swingline Lender shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount
with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available
to the Swingline Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swingline
Lender in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar
fees customarily charged by the Swingline Lender in connection with the foregoing. If such Lender pays such amount (with interest
and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving
Loan or funded Swingline Participation in the relevant Swingline Loan, as the case may be. A certificate of the Swingline Lender
submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall
be conclusive absent manifest error.


 






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(iv)            Each
Revolving Lender’s obligation to make Revolving Loans or to purchase and fund its Swingline Participations in Swingline Loans
pursuant to this Section 2.7(b) shall be absolute and unconditional and shall not be affected by any circumstance, including
(A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swingline Lender,
any Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any
other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each
Revolving Lender’s obligation to make Revolving Loans pursuant to this Section 2.7(b) is subject to the conditions
set forth in Section 5.2. No such funding of Swingline Participations shall relieve or otherwise impair the obligation of
the applicable Borrower to repay Swingline Loans, together with interest as provided herein.


 


(c)            Repayment
of Swingline Participations.


 


(i)            At
any time after any Revolving Lender has purchased and funded its Swingline Participations in one or more Swingline Loans, if the
Swingline Lender receives any payment on account of such Swingline Loan, the Swingline Lender will distribute to such Revolving
Lender its Revolving Percentage thereof in the same funds as those received by the Swingline Lender.


 


(ii)            If
any payment received by the Swingline Lender in respect of principal or interest on any Swingline Loan is required to be returned
by the Swingline Lender (including pursuant to any settlement entered into by the Swingline Lender in its discretion), each Revolving
Lender shall pay to the Swingline Lender its Revolving Percentage thereof on demand of the Administrative Agent, plus interest
thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate.
The Administrative Agent will make such demand upon the request of the Swingline Lender. The obligations of the Lenders under this
clause shall survive the payment in full of the Obligations and the termination of this Agreement.


 


(d)            Interest
for the Account of the Swingline Lender. The Swingline Lender shall be responsible for invoicing the Borrowers for interest
on the Swingline Loans. Until each Revolving Lender funds its Revolving Loan or risk participation pursuant to this Section 2.7
to fund its Swingline Participations, interest in respect of such Revolving Percentage shall be solely for the account of the Swingline
Lender


 


(e)            Payments
Directly to the Swingline Lender. The Borrowers shall make all payments of principal and interest in respect of the Swingline
Loans directly to the Swingline Lender.


 


(f)            Revolving
Defaulting Lenders. Notwithstanding anything to the contrary contained in Sections 2.6 and 2.7 or elsewhere
in this Agreement, (i) the Swingline Lender shall not be obligated to make any Swingline Loan at a time when a Revolving Lender
is a Defaulting Lender unless the Swingline Lender has entered into arrangements reasonably satisfactory to it and the Borrower
Representative to eliminate the Swingline Lender’s risk with respect to the Defaulting Lender’s or Defaulting Lenders’
participation in such Swingline Loans, including by cash collateralizing such Defaulting Lender’s or Defaulting Lenders’
Pro Rata Share of the aggregate Outstanding Amount of Swingline Loans at such time and (ii) the Swingline Lender shall not
make any Swingline Loan after it has received written notice from any Borrower, any other Loan Party or the Required Lenders stating
that a Default or an Event of Default exists and is continuing until such time as the Swingline Lender shall have received written
notice (A) of rescission of all such notices from the party or parties originally delivering such notice or notices or (B) of
the waiver of such Default or Event of Default in accordance with Section 11.1.


 






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2.8            Commitment
Fees, etc.


 


(a)            The
Revolving Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender, in accordance with its Revolving
Percentage, a commitment fee (the “Commitment Fee”) equal to the Commitment Fee Rate times the actual
daily unutilized amount of the Total Revolving Commitments, subject to adjustment as provided in Section 2.25. The
Commitment Fee shall accrue at all times during the Revolving Commitment Period, including at any time during which one or more
of the conditions in Section 5 is not satisfied, and shall be due and payable in arrears on each applicable Fee Payment
Date. The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Commitment Fee Rate during
any quarter, the actual daily amount shall be computed and multiplied by the Commitment Fee Rate separately for each period during
such quarter that such Commitment Fee Rate was in effect.


 


(b)            The
Borrowers agree to pay to the Administrative Agent and the Joint Lead Arrangers (and their respective affiliates) the fees in the
amounts and on the dates set forth in any fee agreements (including the Fee Letter) with such Persons and to perform any other
obligations contained therein.


 


2.9            Termination
or Reduction of Revolving Commitments. The Borrower Representative (on behalf of the Revolving Borrowers) shall have the right,
upon not less than two Business Days’ notice (to the extent there are no Revolving Loans outstanding at such time) or not
less than three Business Days’ notice (in any other case) to the Administrative Agent, to terminate the Revolving Commitments
or, from time to time, to reduce the amount of the Revolving Commitments. Any termination or reduction of Revolving Commitments
pursuant to this Section 2.9 shall be accompanied by prepayment of the Revolving Loans and/or Swingline Loans to the
extent, if any, that the Total Revolving Extensions of Credit exceed the amount of the Total Revolving Commitments as so reduced;
provided that if the aggregate Outstanding Amount of Revolving Loans and Swingline Loans at such time is less than the
amount of such excess (because L/C Obligations constitute a portion thereof), the Borrower Representative shall, to the extent
of the balance of such excess, Collateralize outstanding Letters of Credit, in each case, in a manner reasonably satisfactory
to the Administrative Agent. Any such reduction shall be in an amount equal to $1,000,000 or a whole multiple thereof or, if less
than $1,000,000, the amount of the Revolving Commitments, or a whole multiple thereof, and shall reduce permanently the Revolving
Commitments then in effect; provided, further, that if any such notice of termination of the Revolving Commitments
indicates that such termination is to be made in connection with a Refinancing of the Facilities or in connection with the consummation
of any other event, such notice of termination may be revoked if such Refinancing or other event is not consummated and any Eurocurrency
Loan denominated in Dollars that was the subject of such notice shall be continued as an ABR Loan. Each prepayment of the Loans
under this Section 2.9 (except in the case of Revolving Loans that are ABR Loans (to the extent all Revolving Loans
are not being prepaid) and Swingline Loans) shall be accompanied by accrued interest to the date of such prepayment on the amount
prepaid.


 






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2.10            Optional
Prepayments.


 


(a)            The
Borrowers may at any time and from time to time prepay the Loans, in whole or in part, in each case, without premium or penalty,
upon irrevocable notice, substantially in the form of Exhibit E or such other form as 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), appropriately completed and signed by a Responsible Officer of the Borrower Representative (on behalf of the Borrowers),
which notice must be received by the Administrative Agent no later than 1:00 p.m. (New York City time) three Business Days
prior to the prepayment date, in the case of Eurocurrency Loans denominated in Dollars, Euros, Swiss Francs or Sterling or 1:00
p.m. (New York City time) four Business Days prior to the prepayment date, in the case of Eurocurrency Loans denominated in
Yen or Australian Dollars, and no later than 1:00 p.m. (New York City time) on the prepayment date, in the case of ABR Loans;
provided that if a Eurocurrency Loan is prepaid on any day other than the last day of the Interest Period applicable thereto,
the Borrowers shall also pay any amounts owing pursuant to Section 2.21; provided, further, that if such
notice of prepayment indicates that such prepayment is to be funded with the proceeds of a Refinancing of the Facilities or is
conditioned upon the consummation of any other transaction or event, such notice of prepayment may be revoked if such Refinancing
or other transaction or event is not consummated and any Eurocurrency Loan denominated in Dollars that was the subject of such
notice shall be continued as an ABR Loan. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant
Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified
therein, together with (except in the case of Revolving Loans that are ABR Loans and Swingline Loans, other than in connection
with a repayment of all Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Term Loans and Revolving
Loans shall be in an aggregate principal amount of (x) in the case of ABR Loans, $1,000,000 or a whole multiple of $500,000
in excess thereof, (y) in the case of Eurocurrency Loans denominated in Dollars, $1,000,000 or a whole multiple of $500,000
in excess thereof and (z) in the case of Eurocurrency Loans denominated in an Alternative Currency, the Dollar Amount of €1,000,000
or a whole multiple of the Dollar Amount of €500,000 in excess thereof. Partial prepayments of Swingline Loans shall be in
an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof.


 


(b)            Notwithstanding
anything herein to the contrary, in the event that, on or prior to the date that is six months after the Closing Date, any Borrower
(x) makes any prepayment of Initial Term Loans with the proceeds of any Repricing Transaction described under clause (i) of
the definition of Repricing Transaction, or (y) effects any amendment of this Agreement resulting in a Repricing Transaction
under clause (ii) of the definition of Repricing Transaction, the Borrowers shall on the date of such prepayment or amendment,
as applicable, pay to each Lender (I) in the case of such clause (x), 1.00% of the principal amount of the Initial Term Loans
so prepaid and (II) in the case of such clause (y), 1.00% of the aggregate amount of the Initial Term Loans affected by such
Repricing Transaction and outstanding on the effective date of such amendment (a “Repricing Premium”).


 


2.11            Mandatory
Prepayments and Commitment Reductions.


 


(a)            If
any Indebtedness shall be incurred by any Group Member (other than any Indebtedness permitted to be incurred by any such Person
in accordance with Section 7.2), concurrently with, and as a condition to closing of such transaction, an amount equal
to 100% of the Net Cash Proceeds thereof shall be applied on the date of such issuance or incurrence toward the prepayment of the
Term Loans as set forth in clause (g) of this Section 2.11.


 






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(b)            Subject
to clauses (d) and (i) of this Section 2.11, if, for any Excess Cash Flow Period, there shall
be Excess Cash Flow, an amount equal to (i) the ECF Percentage for such period of such Excess Cash Flow over (ii) in
each case at the option of the Borrower Representative and to the extent not funded with (x) the proceeds of Indebtedness
constituting “long term indebtedness” (or a comparable caption) under GAAP (other than Indebtedness in respect of any
revolving credit facility) or (y) the proceeds of Permitted Cure Securities applied pursuant to Section 9.4, the
aggregate amount of (1) all Purchases by any Permitted Auction Purchaser (determined as the par value of the Loans purchased
by such Permitted Auction Purchaser) pursuant to a Dutch Auction or open market purchase permitted hereunder, (2) voluntary
prepayments of Term Loans and Revolving Loans (but, in the case of Revolving Loans, only to the extent of a concurrent and permanent
reduction in the Revolving Commitments), (3) optional prepayments, purchases and redemptions and buybacks (with credit given
to the par value of the loans or notes repurchased) by UK Holdco and the Restricted Subsidiaries of other Indebtedness that is
secured by a Lien ranking pari passu (determined without regard to the control of remedies) with the Lien securing the Obligations
(but, in the case of revolving indebtedness, only to the extent of a concurrent and permanent reduction in the revolving commitments),
(4) payments by UK Holdco and the Restricted Subsidiaries in cash on account of Capital Expenditures, (5) payments by
UK Holdco and the Restricted Subsidiaries in cash on account of acquisitions or other Investments permitted hereunder (including
any earn-out payments) and (6) Restricted Payments made in cash pursuant to Section 7.3(a), (b)(iv), (b)(v),
(b)(vi), (b)(viii), (b)(x), (b)(xii), (b)(xiii), (b)(xix) and (b)(xxi), in
each case, made during, or committed to be made within 12 months of the end of, the Excess Cash Flow Period (provided, however,
that if any payment committed to be made is not actually made in cash within such period, such amount shall be added back to Excess
Cash Flow for the subsequent Excess Cash Flow Period) or, at the option of the Borrower Representative, after the Excess Cash Flow
Period and prior to the Excess Cash Flow Application Date, shall, on the relevant Excess Cash Flow Application Date, be applied
toward the prepayment of the Term Loans as set forth in clause (g) of this Section 2.11, provided that
no such prepayment shall be made if the Excess Cash Flow for any Excess Cash Flow Period is less than $10,000,000 (and, if Excess
Cash Flow exceeds such amount, only such excess shall be subject to prepayment). Each such prepayment shall be made on a date (an
 “Excess Cash Flow Application Date”) no later than 10 Business Days after the date on which the financial statements
of UK Holdco referred to in Section 6.1(a), for the fiscal year with respect to which such prepayment is made, are
required to be delivered to the Lenders.


 


(c)            Subject
to clauses (d) and (i) of this Section 2.11, if, on any date, UK Holdco or any Restricted Subsidiary
shall receive Net Cash Proceeds from any Asset Sale or any Recovery Event in excess of (i) the greater of $2,000,000 and 0.7%
of Consolidated EBITDA as of the most recently ended Reference Period in any single transaction or series of related transactions
and (ii) with respect to all other Net Cash Proceeds not excluded pursuant to the preceding clause (i), the greater
of $5,000,000 and 1.6% of Consolidated EBITDA as of the most recently ended Reference Period for all such Net Cash Proceeds in
any fiscal year, then, unless the Borrower Representative has determined in good faith that such Net Cash Proceeds shall be reinvested
in its business (a “Reinvestment Event”), an aggregate amount equal to 100% of such Net Cash Proceeds shall
be applied within five Business Days of such date to prepay outstanding Term Loans in accordance with this Section 2.11;
provided that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount equal to the Reinvestment
Prepayment Amount with respect to any Asset Sale or Recovery Event, shall be applied to prepay the outstanding Term Loans as set
forth in Section 2.11(g).


 


(d)            Notwithstanding
anything to the contrary in this Agreement (including clauses (b) and (c) above), to the extent that the
Borrower Representative has determined in good faith that (i) any of or all the Net Cash Proceeds of any Asset Sale or Recovery
Event by a Subsidiary or Excess Cash Flow attributable to Subsidiaries (or branches of Subsidiaries) are prohibited or delayed
by applicable local law from being repatriated to the relevant Borrower(s) (including as a result of financial assistance
and corporate benefit restrictions and fiduciary and statutory duties of the relevant directors), (ii) such repatriation would
present a material risk of liability for the applicable Subsidiary or its directors or officers (or gives rise to a material risk
of breach of fiduciary or statutory duties by any director or officers) or (iii) in the case of Foreign Subsidiaries, such
repatriation or any distribution of the relevant amounts would reasonably be expected to result in material adverse Tax consequences,
the portion of such Net Cash Proceeds or Excess Cash Flow so affected will not be required to be applied to repay Loans at the
times set forth in this Section 2.11 but may be retained by the applicable Subsidiary or branch (the Borrowers hereby
agreeing to cause the applicable Subsidiary or branch to promptly take commercially reasonable actions to permit such repatriation
without violating applicable local law or incurring material adverse Tax consequences); provided, that for a period of 360
days from receipt of such Net Cash Proceeds, if such repatriation becomes permitted under such applicable local law, would not
present a material risk as described in clause (ii) above, or no such material adverse Tax consequences would result from
such distribution, as the case may be, such distribution will be promptly effected and such distributed Net Cash Proceeds will
be promptly (and in any event not later than 10 Business Days after such distribution) applied (net of additional Taxes payable
or reserved against as a result thereof) to the repayment of Term Loans pursuant to this Section 2.11.


 






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(e)            In
the event the aggregate Outstanding Amount of Revolving Loans, L/C Obligations and Swingline Loans at any time exceeds (the “Revolving
Excess”) the Total Revolving Commitments then in effect, the Revolving Borrowers shall immediately (or, if such Revolving
Excess results solely from a Recalculation, within 2 Business Days) repay Swingline Loans and Revolving Loans and Collateralize
Letters of Credit to the extent necessary to remove such Revolving Excess.


 


(f)            The
Borrower Representative shall deliver to the Administrative Agent notice, substantially in the form of Exhibit E or
such other form as 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), appropriately completed and signed by a Responsible Officer of the Borrower
Representative (on behalf of the Borrowers), of each prepayment required under this Section 2.11, which notice must
be received by the Administrative Agent not less than three Business Days (or such shorter time as the Administrative Agent shall
reasonably agree) prior to the date such prepayment shall be made. The Administrative Agent will promptly notify each applicable
Lender of such notice. Each such Lender may reject all of its Pro Rata Share of any prepayment pursuant to clause (b) or
(c) above (such declined amounts, the “Declined Proceeds”) by providing written notice (each, a
 “Rejection Notice”) to the Administrative Agent and the Borrower Representative no later than 12:00 p.m. (New
York City time), two Business Days after the date of such Lender’s receipt of such notice from the Administrative Agent.
If a Lender fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above such failure
will be deemed an acceptance of such prepayment. Any Declined Proceeds may be retained by the Borrowers (such retained amount,
the “Retained Declined Proceeds”). The Borrower Representative shall deliver to the Administrative Agent, at
the time of each prepayment required under this Section 2.11, an Officer’s Certificate setting forth in reasonable
detail the calculation of the amount of such prepayment.


 


(g)            Amounts
to be applied in connection with any mandatory prepayments made pursuant to this Section 2.11 shall be applied to the
prepayment of the Term Loans in accordance with Section 2.17(b). The application of any prepayment of Loans pursuant
to this Section 2.11 shall be made on a pro rata basis regardless of Type. Each prepayment of the Loans under
this Section 2.11 (except in the case of Revolving Loans that are ABR Loans (to the extent all Revolving Loans are
not being prepaid) and Swingline Loans) shall be accompanied by accrued interest to the date of such prepayment on the amount prepaid.


 


(h)            Notwithstanding
any of the other provision of this Section 2.11, if any prepayment of Eurocurrency Loans is required to be made under
this Section 2.11 other than on the last day of the Interest Period applicable thereto, the applicable Borrower may,
in its sole discretion, deposit the amount of any such prepayment otherwise required to be made thereunder with the Administrative
Agent, to be held as security for the obligations of the applicable Borrower to make such prepayment pursuant to a cash collateral
agreement to be entered into on terms reasonably satisfactory to the Administrative Agent 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 any Borrower or
any other Loan Party) to apply such amount to the prepayment of such Eurocurrency Loans in accordance with this Section 2.11
(determined as of the date such prepayment was required to be originally made); provided that such unpaid Eurocurrency Loans
shall continue to bear interest in accordance with Section 2.15 until such unpaid Eurocurrency Loans have been prepaid.
Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent shall also be authorized (without
any further action by or notice to or from any Borrower or any other Loan Party) to apply such amount to the prepayment of the
applicable Eurocurrency Loans in accordance with this Section 2.11 (determined as of the date such prepayment was required
to be originally made). Notwithstanding anything to the contrary contained in this Agreement, any amounts held by the Administrative
Agent pursuant to this clause (h) pending application to any Eurocurrency Loans shall be held and applied to the satisfaction
of such Eurocurrency Loans prior to any other application of such property as may be provided for herein.


 






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(i)            Notwithstanding
the foregoing provisions of this Section 2.11, at the Borrower Representative’s option, outstanding Indebtedness
that is secured by the Collateral on a pari passu basis (determined without regard to the control of remedies) with the
Obligations hereunder (“Other Applicable Indebtedness”) may share, on the terms set forth below, in any mandatory
prepayment of the Term Loans pursuant to Section 2.11(b) and/or (c), and the amount of any such prepayment
required to be made hereunder shall be reduced accordingly. Any Net Cash Proceeds or Excess Cash Flow may be applied to Other Applicable
Indebtedness only to (and not in excess of) the extent to which a mandatory prepayment in respect of such Asset Sale, Recovery
Event or Excess Cash Flow is required under the terms of such Other Applicable Indebtedness (with any remaining Net Cash Proceeds
or Excess Cash Flow applied to prepay outstanding Term Loans in accordance with the terms hereof), unless such application would
result in the holders of Other Applicable Indebtedness receiving in excess of their pro rata share (determined on the basis of
the aggregate Outstanding Amount of Term Loans and Other Applicable Indebtedness at such time) of such Net Cash Proceeds relative
to Term Lenders, in which case such Net Cash Proceeds may only be applied to Other Applicable Indebtedness on a pro rata basis
with outstanding Term Loans. To the extent the holders of Other Applicable Indebtedness decline to have such indebtedness repurchased,
repaid or prepaid with any such Net Cash Proceeds or Excess Cash Flow, the declined amount of such Net Cash Proceeds or Excess
Cash Flow shall promptly (and, in any event, within 10 Business Days after the date of such rejection) be applied to prepay Term
Loans in accordance with the terms hereof (to the extent such Net Cash Proceeds or Excess Cash Flow would otherwise have been required
to be applied if such Other Applicable Indebtedness was not then outstanding)


 


2.12            Conversion
and Continuation Options.


 


(a)            The
Borrower Representative may elect from time to time to convert Eurocurrency Loans denominated in Dollars to ABR Loans by giving
the Administrative Agent prior irrevocable notice of such election telephonically (provided that each telephonic notice
is confirmed promptly in writing), substantially in the form of Exhibit H or such other form as approved by the Administrative
Agent (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 Representative (on behalf of the Borrowers),
no later than 1:00 p.m. (New York City time), three Business Days prior to the proposed conversion date; provided that
any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower
Representative may elect from time to time to convert ABR Loans to Eurocurrency Loans by giving the Administrative Agent prior
irrevocable notice of such election telephonically (provided that each telephonic notice is confirmed promptly in writing),
substantially in the form of Exhibit H or such other form as approved by the Administrative Agent (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 Representative (on behalf of the Borrowers), no later than 1:00 p.m. (New
York City time), on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the
initial Interest Period therefor); provided, however, that if the Borrower Representative wishes to request Eurocurrency
Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest
Period,” the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. (New York City
time) seven Business Days prior to the requested date of such Borrowing conversion, whereupon the Administrative Agent shall give
prompt notice to the Lenders of such request and determine whether the requested Interest Period is approved by all of them. Not
later than 11:00 a.m. (New York City time), four Business Days before the requested date of such Borrowing conversion, the
Administrative Agent shall notify the Borrower Representative (which notice may be by telephone) whether or not the requested Interest
Period has been consented to by all the Lenders; provided, further that, upon notice from the Administrative Agent
to the Borrower Representative at the direction of the Required Lenders, no ABR Loan may be converted into a Eurocurrency Loan
when any Event of Default has occurred and is continuing. Upon receipt of any such notice the Administrative Agent shall promptly
notify each relevant Lender thereof.


 






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(b)            Any
Eurocurrency Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the
Borrower Representative (on behalf of the Borrowers) giving irrevocable notice to the Administrative Agent telephonically (provided
that each telephonic notice is confirmed promptly in writing), substantially in the form of Exhibit H or such other
form as approved by the Administrative Agent (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 Representative,
no later than 12:00 p.m. (New York City time) on the third Business Day preceding the proposed continuation date in the case
of Eurocurrency Loans denominated in Dollars, Euros, Swiss Francs or Sterling or 12:00 p.m. (New York City time) on the fourth
Business Day preceding the proposed continuation date, in the case of Eurocurrency Loans denominated in Yen or Australian Dollars;
provided, however, that if the Borrower Representative wishes to request Eurocurrency Loans having an Interest Period
other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable
notice must be received by the Administrative Agent not later than 11:00 a.m. (New York City time) seven Business Days prior
to the requested date of such Borrowing continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders
of such request and determine whether the requested Interest Period is acceptable to all of them. Not later than 11:00 a.m. (New
York City time), three Business Days before the requested date of such Borrowing continuation, in the case of Eurocurrency Loans
denominated in Dollars, Euros, Swiss Francs or Sterling or 11:00 p.m. (New York City time) four Business Days before the requested
date of such Borrowing continuation, in the case of Eurocurrency Loans denominated in Yen or Australian Dollars, the Administrative
Agent shall notify the Borrower Representative (which notice may be by telephone) whether or not the requested Interest Period
has been consented to by all the Lenders; provided, further that, to the extent the Required Lenders provide written
notice thereof to the Borrower Representative, no Eurocurrency Loan may be continued as such when any Event of Default has occurred
and is continuing; provided, further, that with respect to Eurocurrency Loans denominated in Dollars, if continuation
is not permitted pursuant to the preceding proviso, such Loans shall be automatically converted to ABR Loans on the last day of
such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant
Lender thereof.


 


(c)            If
the Borrower Representative fails to give a timely notice requesting continuation or conversion from one Type of Loan to another,
then the applicable Loans shall, subject to the final proviso to the preceding clause (b), be (i) in the case of ABR
Loans, continued as ABR Loans or (ii) in the case of Eurocurrency Loans, continued as Eurocurrency Loans with an Interest
Period of one month.


 






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2.13            Limitations
on Eurocurrency Tranches. Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions and continuations
of Eurocurrency Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so
that, after giving effect thereto, (a) the aggregate principal amount of the Eurocurrency Loans denominated in Dollars comprising
each Eurocurrency Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof, (b) the aggregate
principal amount of the Eurocurrency Loans denominated in an Alternative Currency comprising each Eurocurrency Tranche shall be
equal to the Dollar Amount of €5,000,000 or a whole multiple of the Dollar Amount of €1,000,000 in excess thereof and
(c) (i) in the case of Term Loans, no more than five Eurocurrency Tranches shall be outstanding at any one time and
(ii) in the case of Revolving Loans, no more than 10 Eurocurrency Tranches shall be outstanding at any one time.


 


2.14            Interest
Rates and Payment Dates.


 


(a)            Each
Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to
the Eurocurrency Rate determined for such day plus the Applicable Margin. Each Loan denominated in an Alternative Currency
shall be a Eurocurrency Loan.


 


(b)            Each
ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin.


 


(c)            (i) 
If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the
stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that
would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% and (ii) if
all or a portion of (x) any interest payable on any Loan or Reimbursement Obligation, (y) any Commitment Fee or (z) any
other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by
acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR
Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular
Facility, the rate then applicable to ABR Loans under the Revolving Facility plus 2%), in each case, with respect to clauses
(i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment).


 


(d)            Interest
shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to Section 2.14(c) shall
be payable from time to time on demand.


 


(e)            Interest
on each Loan shall be payable in the currency in which each Loan was made.


 


2.15            Computation
of Interest and Fees.


 


(a)            Interest
and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days elapsed, except that, (i) with
respect to Eurocurrency Loans denominated in Sterling, the interest thereon shall be calculated on the basis of a 365- day year
and (ii) with respect to ABR Loans, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case
may be) day year for the actual days elapsed or, in any case where the practice in the relevant market differs, in accordance with
that market practice. The Administrative Agent shall as soon as practicable notify the Borrower Representative and the relevant
Lenders of each determination of a Eurocurrency Rate. Any change in the interest rate on a Loan resulting from a change in the
ABR or the Eurocurrency Reserve Percentage shall become effective as of the opening of business on the day on which such change
becomes effective. The Administrative Agent shall as soon as practicable notify the Borrower Representative and the relevant Lenders
of the effective date and the amount of each such change in interest rate. In computing interest on any Loan, the date of the making
of such Loan or the first day of an Interest Period applicable to such Loan or, with respect to an ABR Loan being converted from
a Eurocurrency Loan, the date of conversion of such Eurocurrency Loan to such ABR Loan, as the case may be, shall be included,
and the date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to an
ABR Loan being converted to a Eurocurrency Loan, the date of conversion of such ABR Loan to such Eurocurrency Loan, as the case
may be, shall be excluded; provided that if a Loan is repaid on the same day on which it is made, one day’s interest
shall be paid on that Loan.


 






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(b)            Each
determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive and
binding on the Borrowers and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of the
Borrower Representative, deliver to the Borrower Representative a statement showing the quotations used by the Administrative Agent
in determining any interest rate pursuant to Section 2.14(a).


 


2.16            Inability
to Determine Interest Rate; Illegality.


 


(a)            If
prior to the first day of any Interest Period (i) the Administrative Agent or the Majority Facility Lenders in respect of
the relevant Facility shall have determined (which determination shall be conclusive and binding upon the Borrowers) that, by reason
of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurocurrency Rate
for such Interest Period (and the circumstances described in Section 2.16(b) do not apply), or (ii) the Administrative
Agent shall have received notice from the Majority Facility Lenders in respect of the relevant Facility that the Eurocurrency Rate
determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively
certified by such Lenders) of making or maintaining their affected Loans during such Interest Period, then the Administrative Agent
shall give telecopy or telephonic notice thereof to the Borrower Representative and the relevant Lenders as soon as practicable
thereafter. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Loans in the affected currency
or currencies shall be suspended and (y) in the event of a determination described in the preceding sentence with respect
to the Eurocurrency component of the ABR, the utilization of the Eurocurrency Rate component in determining the ABR shall be suspended,
in each case until the Administrative Agent (upon the instruction of the Majority Facility Lenders) revokes such notice. Upon receipt
of such notice, the Borrower Representative (on behalf of the Borrowers) may revoke any pending request for a Borrowing of, conversion
to or continuation of Eurocurrency Loans (to the extent of the affected Eurocurrency Loans or Interest Periods) or, failing that,
(A) with respect to a pending request for Loans denominated in Dollars, the Borrower Representative will be deemed to have
converted such request into a request for a Borrowing of ABR Loans (subject to the foregoing clause (y)) in the amount specified
therein and (B) with respect to Loans denominated in any Alternative Currency, at the election of the Borrower Representative,
(1) such request shall be converted into a request for a Borrowing of ABR Loans denominated in Dollars (subject to the foregoing
clause (y)) in the Dollar Amount of the amount specified therein (and, in the case of any outstanding Eurocurrency Loans, regardless
of whether such request is made, such Loans will automatically be deemed to be converted to ABR Loans denominated in Dollars in
the Dollar Amount of such Loans at the end of the applicable Interest Period) or (2) the applicable Borrower shall repay such
Eurocurrency Loans (to the extent outstanding) in full at the end of the applicable Interest Period; provided, however that
if no such election is made by the Borrower Representative within three days after receipt of such notice, the Borrower Representative
shall be deemed to have elected clause (1) above.


 






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(b)            Notwithstanding
anything to the contrary in this Agreement or any other Loan Document, if the Administrative Agent determines (which determination
shall be conclusive absent manifest error), or the Borrower Representative or Required Lenders notify the Administrative Agent
(with, in the case of the Required Lenders, a copy to the Borrower Representative) that the Borrower Representative or Required
Lenders (as applicable) have determined, that:


 


(i)             adequate
and reasonable means do not exist for ascertaining LIBOR for any requested Interest Period, 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 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)           syndicated
loans currently being executed, or that include language similar to that contained in this Section 2.16, are being
executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR,


 


then, reasonably promptly after such determination
by the Administrative Agent or receipt by the Administrative Agent of such notice, as applicable, the Administrative Agent and
the Borrower Representative may amend this Agreement solely for the purpose of replacing LIBOR in accordance with this Section 2.16
with (x) one or more SOFR-Based Rates or (y) another alternate benchmark rate giving due consideration to any evolving
or then existing convention for similar U.S. dollar (or, with respect to the benchmark of another applicable currency, such applicable
currency) denominated syndicated credit facilities for such alternative benchmarks 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
(or, with respect to the benchmark of another applicable currency, such applicable currency) 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 (the “Adjustment;”
and any such proposed rate, a “LIBOR Successor Rate”), and 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 (A) in the case of an amendment to replace LIBOR with a rate described in clause (x), object
to the Adjustment; or (B) in the case of an amendment to replace LIBOR with a rate described in clause (y), object to such
amendment; provided that for the avoidance of doubt, in the case of clause (A), the Required Lenders shall not be entitled
to object to any SOFR-Based Rate contained in any such amendment. Such 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 in
consultation with the Borrower Representative.


 






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If no LIBOR Successor
Rate has been determined and the circumstances under clause (i) above exist or the Scheduled Unavailability Date has occurred
(as applicable), the Administrative Agent will promptly so notify the Borrower Representative and each Lender.  Thereafter,
(x) the obligation of the Lenders to make or maintain Eurocurrency Loans shall be suspended (to the extent of the affected
Eurocurrency Loans or Interest Periods), and (y) the Eurocurrency Rate component shall no longer be utilized in determining
ABR.  Upon receipt of such notice, the Borrower Representative (on behalf of the Borrowers) may revoke any pending request
for a Borrowing of, conversion to or continuation of Eurocurrency Loans (to the extent of the affected Eurocurrency Loans or Interest
Periods) or, failing that, (A) with respect to a pending request for Loans denominated in Dollars, the Borrower Representative
will be deemed to have converted such request into a request for a Borrowing of ABR Loans (subject to the foregoing clause (y))
in the amount specified therein and (B) with respect to Loans denominated in any Alternative Currency, at the election of
the Borrower Representative, (1) such request shall be converted into a request for a Borrowing of ABR Loans denominated in
Dollars (subject to the foregoing clause (y)) in the Dollar Amount of the amount specified therein (and, in the case of any outstanding
Eurocurrency Loans, regardless of whether such request is made, such Loans will automatically be deemed to be converted to ABR
Loans denominated in Dollars in the Dollar Amount of such Loans at the end of the applicable Interest Period) or (2) the applicable
Borrower shall repay such Eurocurrency Loans (to the extent outstanding) in full at the end of the applicable Interest Period;
provided, however that if no such election is made by the Borrower Representative within three days after receipt of such
notice, the Borrower Representative shall be deemed to have elected clause (1) above.


 


Notwithstanding anything else herein, any
definition of LIBOR Successor Rate shall provide that in no event shall such LIBOR Successor Rate be less than zero for purposes
of this Agreement.


 


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 LIBOR Successor Conforming Changes to the Lenders reasonably promptly after such amendment becomes effective.


 


(c)            Notwithstanding
any other provision of this Agreement, if any Change in Law shall make it unlawful for any Lender to make or maintain any
Eurocurrency Loan or to give effect to its obligations as contemplated hereby with respect to any Eurocurrency Loan, then, by written
notice to the Borrower Representative and to the Administrative Agent:


 


(i)            any
obligation of such Lender to make or continue Eurocurrency Loans in the affected currency or currencies or to convert ABR to Eurocurrency
Loans shall be suspended and


 


(ii)            if
such notice asserts the illegality of such Lender making or maintaining ABR Loans the interest rate on which is determined by reference
to the Eurocurrency Rate component of the ABR, the interest rate on which ABR Loans of such Lender, shall, if necessary to avoid
such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the ABR,


 


in each case of clauses (i) and (ii) until
such Lender notifies the Administrative Agent and the Borrower Representative that the circumstances giving rise to such determination
no longer exist.


 


Upon receipt of such
notice, the Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, (I) if applicable
and such Loans are denominated in Dollars, convert all of such Lender’s Eurocurrency Loans to ABR Loans (the interest rate
on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without
reference to the Eurocurrency Rate component of the ABR) or (II) if applicable and such Loans are denominated in an Alternative
Currency, the interest rate with respect to such Loans shall be determined by an alternative rate mutually acceptable to the Borrowers
and the Lenders, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such
Eurocurrency Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Loans. In
the event any Lender shall exercise its rights under paragraphs (i) or (ii) of this clause (b), all payments and prepayments
of principal that would otherwise have been applied to repay the Eurocurrency Loans that would have been made by such Lender or
the converted Eurocurrency Loans of such Lender shall instead be applied to repay the ABR Loans (if applicable) made by such Lender
in lieu of, or resulting from the conversion of, such Eurocurrency Loans. For purposes of this clause (b), a notice to the Borrower
Representative by any Lender shall be effective as to each Eurocurrency Loan made by such Lender, if lawful, on the last day of
the Interest Period then applicable to such Eurocurrency Loan; in all other cases, such notice shall be effective on the date of
receipt by the Borrower Representative.


 






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2.17            Pro
Rata Treatment and Payments; Sharing of Payments by Lenders.


 


(a)            Each
borrowing by the Borrowers from the Lenders hereunder, each payment by any Borrower on account of any Commitment Fee and any reduction
of the Commitments of the Lenders shall be made pro rata according to the respective Term Percentages, Incremental
Term Percentages or Revolving Percentages, as the case may be, of the relevant Lenders.


 


(b)            Except
as expressly set forth herein, each payment (including each prepayment) on account of principal of and interest on the Term Loans
shall be made pro rata to the Term Lenders according to the respective Outstanding Amount of the Term Loans then held by
the Term Lenders. The amount of each optional prepayment of the Term Loans made pursuant to Section 2.10 shall be applied
as directed by the Borrower Representative in the notice described in Section 2.10 and, if no direction is given by
the Borrower, in the direct order of maturity. The amount of each mandatory prepayment of the Term Loans pursuant to Section 2.11
(other than any such prepayment pursuant to Section 2.11(b)) shall be applied as directed by the Borrower Representative
in the notice described in Section 2.11 and, if no direction is given by the Borrower Representative, in the direct
order of maturity. The amount of each mandatory prepayment of the Term Loans pursuant to Section 2.11(b) shall
be applied in the direct order of maturity or as otherwise directed by the Borrower Representative. Except as expressly set forth
herein, each payment (including each prepayment) by the Revolving Borrowers on account of principal of and interest on the Revolving
Loans shall be made pro rata to the Revolving Lenders according to the respective Outstanding Amount of the Revolving Loans
then held by the Revolving Lenders.


 


(c)            Each
payment or prepayment of the principal of, and interest on, any Loans shall be made in the relevant currency in which such Loans
are denominated (even if the applicable Borrower is required to convert currency to do so). All payments (including prepayments)
to be made by the Borrowers hereunder and denominated in Dollars, whether on account of principal, interest, fees or otherwise,
shall be made without setoff or counterclaim and shall be made prior to 10:00 a.m. (New York City time) on the due date thereof
to the Administrative Agent at the applicable Administrative Agent’s Office, for the account of the Lenders, in Dollars and
in immediately available funds. All payments (including prepayments) to be made by the Borrowers hereunder and denominated in an
Alternative Currency, whether on account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim
and shall be made prior to 8:00 a.m. (New York City time) on the due date thereof to the Administrative Agent at the applicable
Administrative Agent’s Office, for the account of the Lenders, in the applicable Alternative Currency and in immediately
available funds. If, for any reason, any Borrower is prohibited by any Law from making any required payment hereunder in an Alternative
Currency, such Borrower shall make such payment in Dollars in the Dollar Amount of the Alternative Currency payment amount. Any
payments received after such time shall be deemed to be received on the next Business Day at the Administrative Agent’s sole
discretion, and any applicable interest or fee shall continue to accrue. The Administrative Agent shall distribute such payments
to the Lenders promptly upon receipt in like funds as received. Except as otherwise provided hereunder, if any payment hereunder
(other than payments on the Eurocurrency Loans) becomes due and payable on a day other than a Business Day, such payment shall
be required on the immediately preceding Business Day. If any payment on a Eurocurrency Loan becomes due and payable on a day other
than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension
would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding
Business Day. In the case of any extension of any payment of principal pursuant to the preceding two sentences, interest thereon
shall be payable at the then applicable rate during such extension.


 






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(d)            Unless
the Administrative Agent shall have been notified in writing by any Lender prior to the time of any Borrowing that such Lender
will not make the amount that would constitute its share of such Borrowing available to the Administrative Agent, the Administrative
Agent may assume that such Lender is making such amount available to the Administrative Agent, and the Administrative Agent may,
in reliance upon such assumption, make available to the Borrowers a corresponding amount. If such amount is not made available
to the Administrative Agent by the required time on the Borrowing Date therefor (a “Funding Default”), such
Lender shall pay to the Administrative Agent, on demand, such amount with interest thereon, at a rate equal to the greater of (i) the
Overnight Rate and (ii) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation, for the period until such Lender makes such amount immediately available to the Administrative Agent. A certificate
of the Administrative Agent submitted to any Lender with respect to any amounts owing under this paragraph shall be conclusive
in the absence of manifest error. If such Lender’s share of such borrowing is not made available to the Administrative Agent
by such Lender within three Business Days after such Borrowing Date, the Administrative Agent shall also be entitled to recover
such amount with interest thereon at the rate per annum applicable to ABR Loans under the relevant Facility, on demand, from the
Borrowers. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any
rights which the Administrative Agent or the Borrowers may have against any Lender as a result of any default by such Lender hereunder.


 


(e)            Unless
the Administrative Agent shall have been notified in writing by the Borrower Representative prior to the date of any payment due
to be made by the Borrowers hereunder that the Borrowers will not make such payment to the Administrative Agent, the Administrative
Agent may assume that the Borrowers are making such payment, and the Administrative Agent may, but shall not be required to, in
reliance upon such assumption, make available to the Lenders their respective pro rata shares of a corresponding amount.
If such payment is not made to the Administrative Agent by the Borrowers within three Business Days after such due date, the Administrative
Agent shall be entitled to recover, on demand, from each Lender to which any amount which was made available pursuant to the preceding
sentence, such amount with interest thereon at the rate per annum equal to the daily Overnight Rate. Nothing herein shall be deemed
to limit the rights of the Administrative Agent or any Lender against the Borrowers.


 


(f)            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 Section 2 and such funds are not made available to the applicable Borrower by the Administrative Agent
because the conditions to the applicable Loan set forth in Section 5 are not satisfied or waived in accordance with the terms
hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.


 






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(g)            The
obligations of the Lenders hereunder to make Term Loans and Revolving Loans, to fund participations in Letters of Credit and Swingline
Loans and to make payments pursuant to Section 10.13 are several and not joint. The failure of any Lender to make any Loan,
to fund any such participation or to make any payment under Section 10.13 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, to purchase its participation or to make its payment under Section 10.13.


 


(h)            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.


 


2.18            Requirements
of Law.


 


(a)            Subject
to clause (c) of this Section 2.18, if any Change in Law shall (i) subject any Lender to any Tax of any kind
whatsoever with respect to this Agreement, any Letter of Credit, any Application or any Eurocurrency Loan made by it, or change
the basis of Taxation of payments to such Lender in respect thereof (except for (x) any Non-Excluded Taxes or Other Taxes
(each of which is provided for in Section 2.19), (y) any Taxes described in clauses (i) through (vii) of
the second sentence of Section 2.19(a) and (z) any Taxes which would have been compensated for under Section 2.19(a),
Section 2.19(f) or Section 2.19(g) but were not so compensated because an exclusion in Section 2.19(b),
Section 2.19(c), Section 2.19(d), Section 2.19(e) or Section 2.19(h) applied),
(ii) impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement against assets
held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other
acquisition of funds by, any office of such Lender that is not otherwise included in the determination of the Eurocurrency Rate
or (iii) impose on such Lender any other condition (for the avoidance of doubt, other than Taxes), and the result of any of
the foregoing is to increase the cost to such Lender by an amount that such Lender reasonably deems to be material, of making,
converting into, continuing or maintaining Eurocurrency Loans or issuing or participating in Letters of Credit, or to reduce any
amount receivable hereunder in respect thereof, then, in any such case, the Borrowers shall promptly pay such Lender, upon its
demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any
Lender becomes entitled to claim any additional amounts pursuant to this paragraph, it shall promptly notify the Borrower Representative
(with a copy to the Administrative Agent) of the event by reason of which it has become so entitled.


 


(b)            Subject
to clause (c) of this Section 2.18, if any Lender shall have determined that compliance by such Lender (or any
corporation controlling such Lender) with any Change in Law regarding capital adequacy or liquidity shall have the effect of reducing
the rate of return on such Lender’s or such corporation’s capital as a consequence of its obligations hereunder or
under or in respect of any Loans or Letters of Credit to a level below that which such Lender or such corporation could have achieved
but for such Change in Law (taking into consideration such Lender’s or such corporation’s policies with respect to
capital adequacy or liquidity) by an amount reasonably deemed by such Lender to be material, then from time to time, after submission
by such Lender to the Borrower Representative (with a copy to the Administrative Agent) of a written request therefor (setting
forth in reasonable detail the basis for calculating the additional amounts owed to such Lender under this Section 2.18(b)),
the Borrowers shall pay to such Lender such additional amount or amounts as will compensate such Lender or such corporation for
such reduction.


 






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(c)            Notwithstanding
anything to the contrary in this Agreement (including clauses (a) and (b) above), reimbursement pursuant to this Section 2.18
for (A) increased costs arising from any market disruption (i) shall be limited to circumstances generally affecting
the banking market and (ii) may only be requested by Lenders representing the Majority Facility Lenders with respect to the
applicable Facility and (B) increased costs because of any Change in Law resulting from clause (i) or (ii) of the
proviso to the definition of “Change in Law” may only be requested by a Lender imposing such increased costs on borrowers
similarly situated to the Borrowers under syndicated credit facilities comparable to those provided hereunder. A certificate as
to any additional amounts payable pursuant to this Section submitted by any Lender to the Borrower Representative (with a
copy to the Administrative Agent) shall be conclusive in the absence of manifest error. The Borrowers shall pay such Lender the
additional amount shown as due on any such certificate promptly after, and in any event within, 10 Business Days of, receipt thereof.
Notwithstanding anything to the contrary in this Section, the Borrowers shall not be required to compensate a Lender pursuant to
this Section for any amounts incurred more than nine months prior to the date that such Lender notifies the Borrower Representative
of such Lender’s intention to claim compensation therefor; provided that, if the circumstances giving rise to such
claim have a retroactive effect, then such nine-month period shall be extended to include the period of such retroactive effect.
The obligations of the Borrowers pursuant to this Section shall survive the termination of this Agreement and the payment
of the Loans and all other amounts payable hereunder.


 


2.19            Taxes.


 


(a)            Except
where required under applicable law, all payments made by the Loan Parties under any Loan Document shall be made free and clear
of, and without deduction or withholding for or on account of, any present or future taxes, levies, imposts, duties, charges,
fees, deductions or withholdings, including any penalties, interest and additional amounts with respect thereto, now or hereafter
imposed, levied, collected, withheld or assessed by any Governmental Authority (collectively, “Taxes”). Subject
to Section 2.19(b), Section 2.19(c), Section 2.19(d), Section 2.19(e) and
Section 2.19(h) below, if any applicable law requires any Taxes, excluding (i) Taxes imposed on or measured
by net income and franchise Taxes (which franchise Taxes are imposed in lieu of net income Taxes) imposed on or with respect to
the Administrative Agent or any Lender as a result of a present or former connection between the Administrative Agent or such
Lender and the jurisdiction of the Governmental Authority imposing such Tax or any political subdivision or taxing authority thereof
or therein (other than any such connection arising solely from the Administrative Agent or such Lender having executed, delivered
or performed its obligations or received a payment under, or enforced, this Agreement or any other Loan Document), (ii) branch
profits Taxes imposed on the Administrative Agent or any Lender by the United States of America or any similar Tax imposed by
any other jurisdiction described in clause (i) above, (iii) United States withholding Taxes to the extent imposed pursuant
to a Requirement of Law (or official interpretation or administration thereof) in effect at the time the relevant 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)
would have been entitled at the time of designation of a new lending office (or assignment, if any) to receive additional amounts
from the Borrowers with respect to such Taxes pursuant to this clause (a), (iv) Taxes that are attributable to a Lender’s
failure to comply with the requirements of clauses (j), (k), (l), (o), (q) or (u) of this Section 2.19,
(v) Taxes imposed by sections 1471 through 1474 of the Code as in existence on the Closing Date (and any amended or successor
versions of such provisions that are substantively comparable and not materially more onerous to comply with), any current or
future U.S. treasury regulations thereunder and official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of
the Code and fiscal, tax or regulatory legislation, rules or official practices adopted pursuant to any intergovernmental
agreement, treaty or convention entered into in connection with the foregoing (“FATCA”), (vi) any Bank
Levy and (vii) any withholding taxes applicable pursuant to the Luxembourg law of December 23, 2005 (such non-excluded
taxes, levies, imposts, duties, charges, fees, deductions or withholdings, including any penalties, interest, and additional amounts
with respect thereto, the “Non-Excluded Taxes”), or Other Taxes to be withheld from any amounts payable by
the Loan Parties to the Administrative Agent or any Lender hereunder, the amounts so payable to the Administrative Agent or such
Lender shall be increased to the extent necessary to yield to the Administrative Agent or such Lender (after making all required
withholdings in respect of Non-Excluded Taxes and Other Taxes) an amount equal to the sum it would have received had no such withholding
been made. Within 30 days of a Loan Party making a payment subject to any deduction or withholding as mentioned in this Section 2.19(a),
the Loan Party making such payment shall deliver to the Administrative Agent as agent for the relevant Lender or Lenders evidence
reasonably satisfactory to that Lender that the relevant deduction or withholding has been made and (as applicable) any appropriate
payment has been made to the relevant taxing authority.


 






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(b)            A
payment by a German Borrower shall not be increased pursuant to Section 2.19(a) by reason of a withholding or
deduction for, or on account of, Taxes imposed by Germany if on the date on which the payment falls due (i) the payment could
have been made to the Lender without a withholding or deduction if the Lender had been a German Qualifying Lender, but on that
date that Lender is not or has ceased to be a German Qualifying Lender other than as a result of any change after the date it became
a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or German Treaty, or any
published practice or published concession of any relevant taxing authority or (ii) the relevant Lender is a German Treaty
Lender and the Loan Party making the payment is able to demonstrate that the payment could have been made to the Lender, without
the withholding or deduction had that Lender complied with its obligations under Section 2.19(k) below.


 


(c)            A
payment by a Loan Party (other than in respect of an amount due in respect of a Term Loan) shall not be increased pursuant to Section 2.19(a) by
reason of a UK Tax Deduction if on the date on which the payment falls due:


 


(i)            the
payment could have been made to the relevant Lender without a UK Tax Deduction if the Lender had been a UK Qualifying Lender, but
on that date that Lender is not or has ceased to be a UK Qualifying Lender other than as a result of any change after the date
it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or Treaty, or
any published practice or published concession of any relevant taxing authority;


 


(ii)            the
relevant Lender is a UK Qualifying Lender solely by virtue of clause (a)(ii) of the definition of UK Qualifying Lender and
(A) an officer of H.M. Revenue & Customs has given (and not revoked) a direction (a “Direction”)
under section 931 of the ITA 2007 which relates to the payment and that Lender has received from the UK Borrower a certified copy
of that Direction and (B) the payment could have been made to the Lender without any UK Tax Deduction if that Direction had
not been made;


 


(iii)            the
relevant Lender is a UK Qualifying Lender solely by virtue of clause (a)(ii) of the definition of UK Qualifying Lender and
(A) the relevant Lender has not given a UK Tax Confirmation to the UK Borrower and (B) the payment could have been made
to the relevant Lender without any UK Tax Deduction if the Lender had given a UK Tax Confirmation to the UK Borrower, on the basis
that the UK Tax Confirmation would have enabled the UK Borrower to have formed a reasonable belief that the payment was an “excepted
payment” for the purpose of section 930 of the ITA 2007; or


 


(iv)            the
relevant Lender is a UK Treaty Lender and the Loan Party making the payment is able to demonstrate that the payment could have
been made to the Lender without the UK Tax Deduction had that Lender complied with its obligations under Section 2.19(k) (subject
to Section 2.19(l)) or Section 2.19(m) as applicable.


 






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(d)            A
payment by a Loan Party in respect of an amount due from a Spanish Borrower shall not be increased pursuant to Section 2.19(a) by
reason of a Spanish Tax Deduction if on the date on which the payment falls due:


 


(i)            the
payment could have been made to the relevant Lender without a Spanish Tax Deduction if the Lender had been a Spanish Qualifying
Lender, but on that date that Lender is not or has ceased to be a Spanish Qualifying Lender other than as a result of any change
after the date it became a Lender under this Agreement in (or in the interpretation, administration or application of) any law
or Spanish Treaty, or any published practice or published concession of any relevant taxing authority;


 


(ii)            the
relevant Lender is a Spanish Qualifying Lender under paragraphs (d) or (e) of the definition of “Spanish Qualifying
Lender” and the payment could have been made to that Lender without a Spanish Tax Deduction had the relevant Lender complied
with its obligations under Section 2.19(k) or 2.19(u), as applicable.


 


(e)            A
payment by a Luxembourg Borrower shall not be increased pursuant to Section 2.19(a) by reason of a withholding
or deduction for, or on account of, Taxes imposed by Luxembourg if on the date on which the payment falls due (i) the payment
could have been made to the Lender without a withholding or deduction if the Lender had been a Luxembourg Qualifying Lender, but
on that date that Lender is not or has ceased to be a Luxembourg Qualifying Lender other than as a result of any change after the
date it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or Luxembourg
Treaty, or any published practice or published concession of any relevant taxing authority or (ii) the relevant Lender is
a Luxembourg Treaty Lender and the Loan Party making the payment is able to demonstrate that the payment could have been made to
the Lender, without the withholding or deduction had that Lender complied with its obligations under Section 2.19(k) below.


 


(f)            The
Borrowers shall indemnify the Administrative Agent and each Lender within 10 Business Days after written demand therefor (which
written demand shall be made no later than 180 days after the earlier of (1) the date on which the Administrative Agent or
the applicable Lender, as the case may be, received written demand for payment of the applicable Non-Excluded Taxes or Other Taxes
from the relevant Governmental Authority or (2) the date on which the Administrative Agent or the applicable Lender, as the
case may be, paid the applicable Non-Excluded Taxes or Other Taxes; provided, that failure or delay on the part of the Administrative
Agent or the applicable Lender, as the case may be, to make such written demand shall not constitute a waiver of the right of the
Administrative Agent or the applicable Lender, as the case may be, to demand indemnity and reimbursement for such Non-Excluded
Taxes or Other Taxes, except to the extent that such failure or delay results in prejudice to the Borrowers) for the full amount
of any Non-Excluded Taxes or Other Taxes imposed on or with respect to any payment made by any Loan Party under any Loan Document
(including Non-Excluded Taxes and Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.19
paid by such Person and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not
such Non-Excluded Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority, but
excluding Non-Excluded Taxes to the extent compensated under Section 2.19(a) or Taxes to the extent that such
Taxes would have been compensated for by Section 2.19(a) or Section 2.19(g) but were not so compensated
because one of the exclusions in Section 2.19(b), Section 2.19(c), Section 2.19(d), Section 2.19(e),
Section 2.19(g) or Section 2.19(h) applied). A certificate stating the amount of such payment
or liability and setting forth in reasonable detail the calculation thereof delivered to the Borrower Representative by a Lender
(with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender shall be conclusive
absent manifest error. Statements payable by any Borrower pursuant to this Section 2.19 shall be submitted to the Borrower
Representative at the address specified under Section 11.2.


 






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(g)            Without
duplication of clauses (a) or (f) above, the Borrowers shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law, except for any Luxembourg Taxes payable due to the registration of a Loan Document with the
Administration de l’Enregistrement, des Domaines et de la TVA in Luxembourg within the same circumstances as referred
to under Section 2.19(h)(i) and (ii) below.


 


(h)            A
payment shall not be required to be made by a Loan Party pursuant to Section 2.19(a), Section 2.19(f) or
Section 2.19(g) for, or on account of, Other Taxes where (i) such Other Taxes are imposed with respect to
an assignment or transfer of any Lender’s rights or any participation or sub-contract by a Lender (other than in the course
of primary syndication, pursuant to Section 2.23 (other than Section 2.23(c)) or after a Default), or (ii) such
Other Taxes derive from the voluntary registration of a Loan Document by or on behalf of the Administrative Agent or any Lender
where such registration is not required to maintain, preserve, establish or enforce the rights of the Administrative Agent or that
Lender under a Loan Document.


 


(i)            Whenever
any Non-Excluded Taxes or Other Taxes are payable by the Borrowers, as promptly as possible thereafter the Borrowers shall send
to the Administrative Agent for its own account or for the account of the relevant Lender, as the case may be, (A) where that
payment is in connection with a UK Tax Deduction, a statement under section 975 of the ITA 2007 or other evidence reasonably satisfactory
to the Administrative Agent that the UK Tax Deduction has been made or (as applicable) any appropriate payment paid to HM Revenue &
Customs, or (B) in any other case, a certified copy of an original official receipt received by the Borrowers showing payment
thereof, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative
Agent.


 


(j)            Each
Lender (or Assignee) that is not a “United States person” as defined in Section 7701(a)(30) of the Code (a “Non-U.S.
Lender”) shall deliver to the Borrower Representative (on behalf of the applicable Borrowers) and the Administrative
Agent two copies of either U.S. Internal Revenue Service Form W-8BEN, Form W-8BEN-E or Form W-8ECI, or, in the case
of a Non-U.S. Lender claiming exemption from U.S. federal withholding tax under Section 871(h) or 881(c) of the
Code with respect to payments of “portfolio interest”, a statement substantially in the form of Exhibit C-1
and a Form W-8BEN, Form W-8BEN-E, or any subsequent versions thereof or successors thereto, properly completed and duly
executed by such Non-U.S. Lender claiming complete exemption from, or a reduced rate of, U.S. federal withholding tax on all payments
by the Borrowers under this Agreement and the other Loan Documents; provided that, in the case of a Non-U.S. Lender that
is not the beneficial owner, such Non-U.S. Lender shall deliver to the Borrower Representative (on behalf of the applicable Borrowers)
and the Administrative Agent two executed copies of U.S. Internal Revenue Service Form W-8IMY, accompanied by Form W-8ECI,
Form W-8BEN, Form W-8BEN-E, a statement substantially in the form of Exhibit C-2 or Exhibit C-3,
Form W-9, and/or other certification documents from each beneficial owner, as applicable (in each case, or any subsequent
versions thereof or successors thereto); provided, further, that if the Non-U.S. Lender is a partnership and one
or more direct or indirect partners of such Non-U.S. Lender are claiming exemption from U.S. federal withholding tax under Section 871(h) or
881(c) of the Code with respect to payments of “portfolio interest”, such Non-U.S. Lender may provide a statement
substantially in the form of Exhibit C-4 on behalf of each such direct or indirect partner). Any Lender (or Assignee)
that is not a Non-U.S. Lender shall deliver to the Borrower Representative (on behalf of the applicable Borrowers) and the Administrative
Agent two copies of U.S. Internal Revenue Service Form W-9, or any subsequent versions thereof or successors thereto, properly
completed and duly executed by such Person claiming complete exemption from backup withholding on all payments by the Borrowers
under this Agreement and the other Loan Documents. The Administrative Agent shall deliver to the Borrower Representative (on behalf
of the applicable Borrowers) with respect to any Revolving Loan made to a US Loan Party, and with respect to any Term Loan, a duly
completed U.S. Internal Revenue Service Form W-9 (or, in the case of a successor Administrative Agent that is not organized
in the United States, a duly executed U.S. Internal Revenue Service Form W-8IMY (y)(A) certifying that such Administrative
Agent is a qualified intermediary, within the meaning of Treasury Regulation Section 1.1441-1(e)(5)(ii) (or any successor
thereto) and (B) assuming primary responsibility for U.S. federal income tax withholding with respect to payments to be received
by it on behalf of the Lenders or (z) evidencing its agreement with the Borrowers to be treated as a United States person
with respect to payments on such Loans for U.S. federal income tax purposes in accordance with Treasury Regulation 1.1441-1(b)(2)(iv)(A) (or
any successor thereto)). The forms and certification referenced in the previous three sentences (the “Forms”)
shall be delivered by the Administrative Agent and each Lender on or before the date it becomes a party to this Agreement. In addition,
the Administrative Agent and each Lender shall deliver the Forms promptly upon the obsolescence or invalidity of any Forms previously
delivered by the Administrative Agent and such Lender and upon the written request of the Borrower Representative or the Administrative
Agent. The Administrative Agent and each Lender shall promptly notify the Borrower Representative (on behalf of the applicable
Borrowers) at any time it determines that it is no longer in a position to provide any previously delivered Form to the Borrower
Representative (or any other form or certification adopted by the U.S. taxing authorities for such purpose). Notwithstanding any
other provision of this paragraph (j), the Administrative Agent and each Lender shall not be required to deliver any Form pursuant
to this paragraph (j) that the Administrative Agent and such Lender is not legally able to deliver.


 






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(k)            The
Administrative Agent and each Lender that is entitled to an exemption from or reduction of withholding tax (other than U.S. federal
withholding Tax) under the law of the jurisdiction in which a Loan Party is resident for tax purposes, or any treaty to which such
jurisdiction is a party, with respect to payments under any Loan Document (including, for the avoidance of doubt, a Luxembourg
Treaty Lender, a German Treaty Lender, a Spanish Treaty Lender and a UK Treaty Lender) shall (subject, in the case of a UK Treaty
Lender with respect to an exemption from or reduction of a UK Tax Deduction, to Section 2.19(l)) (i) cooperate
in completing any procedural formalities necessary for a Loan Party making a payment to that Lender or the Administrative Agent
to obtain authorization to make that payment without a withholding or deduction for, or on account of, Tax, and (ii) deliver
to the Borrower Representative (on behalf of the applicable Borrowers) (with a copy to the Administrative Agent), at the time or
times reasonably requested by the Borrower Representative (on behalf of the applicable Borrowers) or the Administrative Agent,
such properly completed and executed documentation prescribed by applicable law or any treaty as will permit such payments to be
made without withholding or deduction for, or on account of, Tax or at a reduced rate, provided that the Administrative
Agent or such Lender, as applicable, is legally entitled to complete such procedural formalities or complete, execute and deliver
such documentation and in the Administrative Agent’s or such Lender’s judgment, as applicable, such completion of such
procedural formalities or such completion, execution or submission of such documentation would not materially prejudice the legal
or commercial position of the Administrative Agent and such Lender.


 


(l)            A
UK Treaty Lender which becomes (i) a party to this Agreement on the Closing Date that (x) holds a passport under the
HM Revenue & Customs DT Treaty Passport scheme and (y) wishes such scheme to apply to this Agreement, shall confirm
its scheme reference number and its jurisdiction of tax residence opposite its name in Schedule 1.1A; or (ii) a Lender
hereunder after the Closing Date that (x) holds a passport under the HM Revenue & Customs DT Treaty Passport scheme
and (y) wishes such scheme to apply to this Agreement, shall provide its scheme reference number and its jurisdiction of tax
residence in the relevant Assignment or Assumption, Refinancing Amendment or Incremental Amendment pursuant to which such Lender
becomes a party hereto or otherwise in writing to the UK Borrower within 15 days of it become a party to this Agreement, and having
done so, such UK Treaty Lender shall have satisfied its obligation under clause (k) above in respect of a UK Tax Deduction.


 


(m)            If
a UK Treaty Lender has confirmed its scheme reference number and its jurisdiction of tax residence in accordance with clause (l) above
and


 


(i)            a
UK Borrower making a payment to that Lender has not made a Borrower DTTP Filing in respect of that Lender; or


 


(ii)            a
UK Borrower making a payment to that Lender has made a Borrower DTTP Filing in respect of that Lender but:


 


(1)            such
Borrower DTTP Filing has been rejected by HM Revenue & Customs; or


 


(2)            HM
Revenue & Customs has not given that UK Borrower authority to make payments to that Lender without a Tax Deduction within
60 days of the date of the Borrower DTTP Filing,


 


and in each case, the UK Borrower has notified
that UK Treaty Lender in writing of either (1) or (2) above, then such UK Treaty Lender and the UK Borrower shall co-operate
in completing any additional procedural formalities necessary for that UK Borrower to obtain authorization to make that payment
without a UK Tax Deduction.


 


(iii)            If
a UK Treaty Lender has not confirmed its scheme reference number and jurisdiction of tax residence in accordance with clause (l) above,
no Loan Party shall make a Borrower DTTP Filing or file any other form relating to the HM Revenue & Custom DT Treaty Passport
scheme in respect of that UK Treaty Lender's Commitment(s) or its participation in any Loan unless the UK Treaty Lender otherwise
agrees.


 


(iv)            A
Loan Party shall, promptly on making a Borrower DTTP Filing, deliver a copy of such Borrower DTTP Filing to the Administrative
Agent for delivery to the relevant UK Treaty Lender.


 


(v)            A
UK Non-Bank Lender which becomes a party to this Agreement on the Closing Date gives a UK Tax Confirmation to the UK Borrower by
entering into this Agreement. A UK Non-Bank Lender shall promptly notify the UK Borrower and the Administrative Agent if there
is any change in the position from that set out in the UK Tax Confirmation.


 






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(n)            If
the Administrative Agent or any Lender determines, in its sole discretion exercised in good faith, that it has received a refund
(whether in the form of cash or as a credit against, or as a reduction of, a tax liability) of any Non-Excluded Taxes or Other
Taxes as to which it has been indemnified by the Loan Parties or with respect to which the Loan Parties have paid additional amounts
pursuant to this Section 2.19, it shall pay over such refund to the relevant Loan Party (but only to the extent of
indemnity payments made, or additional amounts paid, by the Loan Parties under this Section 2.19 with respect to the
Non-Excluded Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or
such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund);
provided that the relevant Loan Party, upon the request of the Administrative Agent or such Lender, agrees to repay the
amount paid over to the Loan Parties (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay
such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (n), in no event will the
Administrative Agent or any Lender be required to pay any amount to the Loan Parties pursuant to this paragraph (n) the payment
of which would place the Administrative Agent or such Lender in a less favorable net after-Tax position than it would have been
in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and
the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph (n) shall
not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information
relating to its taxes which it deems confidential) to the Borrower Representative or any other Person.


 


(o)            If
a payment made to the Administrative Agent or a Lender under any Loan Document would be subject to United States federal withholding
Tax imposed by FATCA if the Administrative Agent or such Lender were to fail to comply with the applicable reporting requirements
of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), the Administrative
Agent and such Lender shall deliver to the Borrower Representative (on behalf of the applicable Borrowers) and the Administrative
Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower Representative (on
behalf of the applicable Borrowers) 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 Representative
(on behalf of the applicable Borrowers) or the Administrative Agent as may be necessary for any Borrower and the Administrative
Agent to comply with their obligations under FATCA and to determine that the Administrative Agent or such Lender has complied with
the Administrative Agent’s or such Lender’s obligations under FATCA or to determine the amount to deduct and withhold
from such payment. Solely for purposes of this paragraph (o), “FATCA” shall include any amendments made to FATCA after
the Closing Date.


 


(p)            Each
Lender which becomes a party to this Agreement after the Closing Date (a “New Lender”) shall indicate in the
Assignment and Assumption, Refinancing Amendment or Incremental Amendment pursuant to which such Lender will became a party hereto,
which of the following categories it falls in: (i) in relation to a Luxembourg Borrower (a) not a Luxembourg Qualifying
Lender, (b) a Luxembourg Qualifying Lender (other than a Luxembourg Treaty Lender), or (c) a Luxembourg Treaty Lender;
(ii) in relation to a UK Borrower (a) not a UK Qualifying Lender, (b) a UK Qualifying Lender (other than a UK Treaty
Lender), or (c) a UK Treaty Lender; (iii) in relation to a German Borrower (a) not a German Qualifying Lender, (b) a
German Qualifying Lender (other than a German Treaty Lender), or (c) a German Treaty Lender; and (iv) in relation to
a Spanish Borrower (a) not a Spanish Qualifying Lender, (b) a Spanish Qualifying Lender (other than a Spanish Treaty
Lender or an EU Lender), (c) an EU Lender; or (d) a Spanish Treaty Lender. If a New Lender fails to indicate its status
in accordance with this Section 2.19(p) then such New Lender shall be treated for the purposes of this Agreement
as if it was not a Luxembourg Qualifying Lender, not a UK Qualifying Lender, not a German Qualifying Lender or not at Spanish Qualifying
Lender, as applicable, until such time as it notifies the Administrative Agent which category applies (and the Administrative Agent
upon receipt of such notification, shall inform the Borrower Representative). For the avoidance of doubt, an Assignment and Assumption,
Refinancing Amendment or Incremental Amendment shall not be invalidated by any failure of a Lender to comply with this Section 2.19(p).


 


(q)            Each
Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect,
it shall update such form or certification or promptly notify the Borrower Representative (on behalf of the applicable Borrowers)
and the Administrative Agent in writing of its legal inability to do so.


 






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(r)            Without
limiting any other provisions of this Agreement, each Lender that would not qualify for a complete exemption from withholding Taxes
with respect to payments made under any Loan Document at the time such Lender becomes a party to this Agreement, shall consider
in good faith, but not be required, to take actions, including assigning any of its Commitments and Loans to an affiliate of such
Lender, so as to reasonably limit any obligations of the Loan Parties under this Section 2.19.


 


(s)            The
agreements in this Section shall survive the termination of this Agreement and the payment of the Loans and all other amounts
payable hereunder.


 


(t)            VAT.


 


(i)            All
amounts expressed to be payable under any Loan Document by any party to this Agreement to a Lender which (in whole or in part)
constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that
supply and, accordingly, subject to clause (ii) below, if VAT is or becomes chargeable on any supply made by any Lender to
any party to this Agreement under any Loan Document and such Lender is required to account to the relevant tax authority for the
VAT, that party must pay to such Lender (in addition to and at the same time as paying any other consideration for such supply)
an amount equal to the amount of the VAT (and such Lender must promptly provide an appropriate VAT invoice to that party).


 


(ii)            If
VAT is or becomes chargeable on any supply made by any Lender (the “Supplier”) to any other Lender (the “Recipient”)
under any Loan Document, and any party other than the Recipient (the “Relevant Party”) is required by the terms
of any Loan Document to pay an amount equal to the consideration for that supply to the Supplier (rather than being required to
reimburse or indemnify the Recipient in respect of that consideration):


 


(1)            (where
the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the
Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where
this clause (1) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives
from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; and


 


(2)            (where
the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following
demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that
the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of
that VAT.


 


(iii)            Where
any Loan Document requires any party to this Agreement to reimburse or indemnify a Lender for any cost or expense, that party shall
reimburse or indemnify (as the case may be) such Lender for the full amount of such cost or expense, including such part thereof
as represents VAT, save to the extent that such Lender reasonably determines that it is entitled to credit or repayment in respect
of such VAT from the relevant tax authority.


 


(iv)            Any
reference in this Section 2.19(t) to any party shall, at any time when such party is treated as a member of a
group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the representative
member of such group at such time (the term “representative member” to have the same meaning as in the Value Added
Tax Act 1994 or in the relevant legislation of any other jurisdiction having implemented Council Directive 2006/112/EC on the common
system of value added tax).


 






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(v)           In
relation to any supply made by a Lender to any party to this Agreement under any Loan Document, if reasonably requested by such
Lender, that party must promptly provide such Lender with details of that party's VAT registration and such other information as
is reasonably requested in connection with such Lender's VAT reporting requirements in relation to such supply.


 


(u)          Each
(i) Spanish Qualifying Lender under paragraphs (d) or (e) of the definition of “Spanish Qualifying Lender”
and (ii) Lender who is not resident for tax purposes in Spain but is entitled to the benefits of a Spanish Treaty providing
for a reduction of a Spanish Tax Deduction applicable on interest shall, as soon as reasonably practicable after the date on which
it becomes a Party to this Agreement, and in any event before any payment is due or made, whichever comes first, deliver to the
Spanish Borrower through the Administrative Agent a certificate of tax residence (or the specific form or documentation required
under the relevant Spanish Treaty) duly issued by the competent tax authorities of that Lender’s jurisdiction of tax residence
evidencing such Lender as resident for tax purposes in that jurisdiction and, if a Spanish Treaty Lender or a Lender entitled to
the benefits of a Spanish Treaty, evidencing such Lender as resident for tax purposes in that jurisdiction and declaring that it
is entitled to the benefits of the relevant Spanish Treaty. Each such Lender shall be required to deliver a new certificate of
tax residence each time the existing certificate expires in accordance with the Spanish laws and regulations.


 


For purposes of this Section 2.19,
the term Lender shall include any Issuing Lender or Swingline Lender.


 


2.20           [Reserved].


 


2.21           Indemnity.  
The Borrowers agree to indemnify each Lender for, and to hold each Lender harmless from, any loss or expense that such Lender
may sustain or incur as a consequence of (a) default by any Borrower in making a borrowing of, conversion into or continuation
of Eurocurrency Loans after the Borrower Representative has given a notice requesting the same in accordance with the provisions
of this Agreement, (b) default by the Borrowers in making any prepayment of or conversion from Eurocurrency Loans after the
Borrower Representative has given a notice thereof in accordance with the provisions of this Agreement or (c) the making
of a prepayment of Eurocurrency Loans on a day that is not the last day of an Interest Period with respect thereto. Such indemnification
may include an amount equal to the excess, if any, of (i) the amount of interest that would have accrued on the amount so
prepaid, or not so borrowed, reduced, converted or continued, for the period from the date of such prepayment or of such failure
to borrow, reduce, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, reduce,
convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable
rate of interest or other return for such Loans provided for herein (excluding, however, the Applicable Margin included therein,
if any) over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such
Lender on such amount by placing such amount on deposit for a comparable period with leading banks in the interbank eurocurrency
market. A certificate as to any amounts payable pursuant to this Section submitted to the Borrower Representative by any
Lender shall be conclusive in the absence of manifest error. This covenant shall survive the termination of this Agreement and
the payment of the Loans and all other amounts payable hereunder.


 


2.22           Change
of Lending Office.


 


(a)        Each
Lender agrees that, upon the occurrence of any event giving rise to the operation of Sections 2.18 or 2.19
with respect to such Lender, it will, if requested by the Borrower Representative, use reasonable efforts (subject to overall policy
considerations of such Lender) to designate another lending office for any Loans affected by such event with the object of avoiding
the consequences of such event; provided that such designation is made on terms that, in the sole judgment of such Lender,
cause such Lender and its lending office(s) to suffer no economic, legal or regulatory disadvantage (with respect to which
such Lender is not reimbursed), and provided, further, that nothing in this Section shall affect or postpone
any of the obligations of the Borrowers or the rights of any Lender pursuant to Sections 2.18 or 2.19.


 






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(b)        Subject
to clause (a) above, and without prejudice to the rights and obligations (but subject to the terms and requirements) in Section 2.19,
each Borrower agrees that each Lender may, at its option, make any Loan available to any Borrower by causing any foreign or domestic
branch or Affiliate of such Lender to make such Loan, and that any exercise of such option shall not shall affect or postpone any
of the obligations of the Borrowers or the rights of any Lender pursuant to this Agreement (except to the extent that, for the
avoidance of doubt, the exercise of such option changes such Lender’s status as a UK Qualifying Lender, a German Qualifying
Lender, a Spanish Qualifying Lender or a Luxembourg Qualifying Lender for the purposes of Section 2.19).


 


2.23            Replacement
of Lenders. The Borrowers shall be permitted to replace, or, notwithstanding Section 2.17, prepay the applicable
Loans and terminate the applicable Commitments (on a non pro rata basis among Lenders generally), of any Lender (a) where
a Loan Party is obligated to pay additional amounts or indemnity payments under Section 2.19, (b) that requests
reimbursement for amounts owing pursuant to Sections 2.16 or 2.18, (c) that becomes a Defaulting Lender
or otherwise defaults in its obligation to make Loans hereunder or (d) that has not consented to a proposed change, waiver,
discharge or termination of the provisions of this Agreement as contemplated by Section 11.1 that requires the consent
of all Lenders or all Lenders under a particular Facility or each Lender affected thereby and which has been approved by the Required
Lenders as provided in Section 11.1, with a Lender or Eligible Assignee; provided that (i) such replacement
does not conflict with any Requirement of Law, (ii) in the case of clause (a) or (b), prior to any such replacement,
such Lender shall have taken no action under Section 2.22 sufficient to eliminate the continued need for payment of
amounts owing pursuant to Sections 2.16, 2.18 or 2.19, (iii)  the replacement financial institution
or other Eligible Assignee shall purchase, or the applicable Borrowers shall repay, all Loans and other amounts (or, in the case
of clause (d) as it relates to provisions affecting a particular Facility, Loans or other amounts owing under such Facility)
owing to such replaced Lender on or prior to the date of replacement, (iv) the Borrowers shall be liable to such replaced
Lender under Section 2.21 if any Eurocurrency Loan owing to such replaced Lender shall be purchased other than on
the last day of the Interest Period relating thereto, (v) in the case of any replacement, the replacement financial institution
or other Eligible Assignee, if not already a Lender, shall be reasonably satisfactory to the Administrative Agent, (vi) in
the case of any replacement, the replaced Lender shall be deemed to have made such replacement in accordance with the provisions
of Section 11.6, (vii) until such time as such replacement or prepayment and termination shall be consummated,
the Borrowers shall pay all additional amounts (if any) required pursuant to Sections 2.16, 2.18, 2.19(a) or
2.19(f), as the case may be, and (viii) any such replacement or prepayment and termination shall not be deemed to
be a waiver of any rights that the Borrowers, the Administrative Agent or any other Lender shall have against the replaced Lender.
Upon any such assignment, such replaced Lender shall no longer constitute a “Lender” for purposes hereof (or, in the
case of clause (d) as it relates to provisions affecting a particular Facility, a Lender under such Facility); provided
that any rights of such replaced Lender to indemnification hereunder shall survive as to such replaced Lender. Each Lender,
the Administrative Agent and the Borrowers agree that in connection with the replacement of a Lender and upon payment to such
replaced Lender of all amounts required to be paid under this Section 2.23, the Administrative Agent and the Borrowers
shall be authorized, without the need for additional consent from such replaced Lender, to execute an Assignment and Assumption
on behalf of such replaced Lender, and any such Assignment and Assumption so executed by the Administrative Agent or the Borrowers
and, to the extent required under Section 11.6, the Borrowers, the Swingline Lender and each Issuing Lender, shall
be effective for purposes of this Section 2.23 and Section 11.6. Notwithstanding anything to the contrary
in this Section 2.23, in the event that a Lender which holds Loans or Commitments under more than one Facility does
not agree to a proposed amendment, supplement, modification, consent or waiver which requires the consent of all Lenders under
a particular Facility, the Borrowers shall be permitted to replace or, notwithstanding Section 2.17, prepay the applicable
Loans and terminate the applicable Commitments of the non-consenting Lender with respect to the affected Facility and may, but
shall not be required to, replace such Lender with respect to any unaffected Facilities.


 






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2.24            Evidence
of Debt; Notes. The Loans and other credit extensions hereunder made by each Lender shall be evidenced by one or more accounts
or records maintained by such Lender in the ordinary course of business. The Administrative Agent shall maintain the Register
in accordance with Section 11.6(b)(vi). The accounts or records maintained by each Lender shall be conclusive absent manifest
error of the amount of the Loans and other credit extensions hereunder made by the Lenders to the Borrowers and the interest and
payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the joint and
several obligation of the Borrowers 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 control in the absence of manifest
error. If so requested by any Lender by written notice to the Borrower Representative (with a copy to the Administrative Agent),
the applicable Borrowers shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to
any Person who is an assignee of such Lender pursuant to Section 11.6) (promptly after the Borrower Representative’s
receipt of such notice) a Note or Notes to evidence such Lender’s Loans in addition to such accounts or records. Each Lender
may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments
with respect thereto.


 


2.25           Incremental
Credit Extensions.


 


Subject to the terms
of this Section 2.25:


 


(a)        A
Borrower or Subsidiary Guarantor may, at any time or from time to time after the Closing Date, by notice from the Borrower Representative
to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders) and the Person
appointed by the Borrower Representative to arrange an Incremental Facility (such Person, who may be the Administrative Agent,
if it so agrees, or any other Person appointed by the Borrower Representative, the “Incremental Arranger”),
request one or more additional tranches of term loans and/or one or more increases to the amount of any Class of Term Loans
then outstanding (the commitments thereof, the “Incremental Term Commitments”, the loans thereunder, the “Incremental
Term Loans”, and a Lender making such loans, an “Incremental Term Lender”) and/or one or more additional
tranches of revolving loans (the “Additional/Replacement Revolving Commitments”) and/or one or more increases
in the amount of the Revolving Commitments of any Class (each such increase, a “Revolving Commitment Increase”,
the loans thereunder and under any Additional/Replacement Revolving Commitments, the “Incremental Revolving Loans”,
and a Lender making a commitment to provide such Incremental Revolving Loans, an “Incremental Revolving Lender”);
provided that the Borrowers and Subsidiary Guarantors may incur Incremental Term Commitments that are intended to be fungible
with the Initial Term Loans on no more than five occasions prior to the initial Term Loan Maturity Date unless the Administrative
Agent otherwise agrees; provided, further, that:





 



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(i)            after
giving effect to any such Additional/Replacement Revolving Commitments, any such Revolving Commitment Increase and any such Incremental
Term Loans, the aggregate amount of such Additional/Replacement Revolving Commitments, Revolving Commitment Increases and Incremental
Term Loans shall not exceed an amount equal to the sum of (x) an unlimited amount at any time so long as the First
Lien Net Leverage Ratio on a Pro Forma Basis (but without giving effect to the cash proceeds of such Incremental Term Loans or
of any Incremental Revolving Loans incurred pursuant to such Revolving Commitment Increase or such Additional/Replacement Revolving
Commitments remaining on the balance sheet) as of the most recently ended Reference Period (calculated assuming that such Revolving
Commitment Increase or Additional/Replacement Revolving Commitment is fully drawn throughout such period) does not exceed the greater
of (A) 5.00 to 1.00 and (B) if incurred to finance an acquisition or other Investment permitted hereunder, the First
Lien Net Leverage Ratio as of the most recently ended Reference Period, plus (y) the amount of all prior voluntary
prepayments, loan buybacks (with credit given to the principal amount thereof) and commitment reductions of Term Loans, Revolving
Loans, Incremental Loans, Indebtedness incurred pursuant to Section 7.2(b)(vi) that is secured by a
Lien on the Collateral on a pari passu basis with the Obligations and Permitted Credit Agreement Refinancing Debt and Refinancing
Indebtedness previously applied to the permanent repayment of any of the foregoing and the amount of any prepayments made to any
Lender pursuant to Section 2.23, with any replacement of a Lender pursuant thereto being deemed, solely for this purpose,
to constitute a prepayment (in each case to the extent not funded with the proceeds of long-term Indebtedness (except Indebtedness
under one or more revolving credit or similar facilities) or the proceeds of Permitted Cure Securities applied pursuant to Section 9.4
and, with respect to any prepayment or commitment reduction of or in respect of revolving loans, to the extent accompanied by a
permanent reduction in such revolving commitments) less the aggregate principal amount of Indebtedness incurred under Section 7.2(b)(vi)(y),
plus (z) an amount equal to the greater of $325,000,000 and 100% of Consolidated EBITDA on a Pro Forma Basis as of
the most recently ended Reference Period (and after giving effect to any acquisition or other transaction consummated concurrently
therewith) less the aggregate outstanding principal amount of Indebtedness incurred under Section 7.2(b)(vi)(z) (provided
that, for the avoidance of doubt, the amount available to the Borrowers pursuant to clauses (y) and (z) above shall be
available at all times and shall not be subject to any ratio test described in foregoing clause (x)); provided that, for
the avoidance of doubt, if the applicable Borrower incurs Incremental Term Loans, Additional/Replacement Revolving Commitments
or a Revolving Commitment Increase under clause (x) above on the same date that it incurs indebtedness under clauses (y) or
(z) above, then the First Lien Net Leverage Ratio will be calculated with respect to such incurrence under clause (x) without
regard to any incurrence of indebtedness under clauses (y) or (z) above. Unless the Borrower Representative elects otherwise,
any Incremental Term Loans, Additional/Replacement Revolving Commitments or Revolving Commitment Increase shall be deemed incurred
first under clause (x) above, with the balance incurred under clauses (y) and (z) above. The Borrower Representative
may designate any Incremental Arranger of any Incremental Facility with such titles under the Incremental Facility as Borrower
Representative may deem appropriate.


 


(ii)           the
Incremental Term Loans and Incremental Revolving Loans shall rank pari passu in right of payment and of security with the
other Loans and Commitments hereunder;


 


(iii)          any
Additional/Replacement Revolving Commitments shall not mature earlier than the Revolving Termination Date and shall not have amortization
or scheduled mandatory commitment reductions (other than at the maturity thereof) and all other material terms (other than pricing,
maturity, upfront, arrangement, structuring, underwriting, ticking, consent, amendment and other fees, participation in mandatory
prepayments or commitment reductions and immaterial terms, which shall be determined by the Borrower Representative) shall (x) be
substantially consistent with the existing Revolving Facility or (y) be reasonably satisfactory to the Administrative Agent
(it being understood that if any financial maintenance covenant or other more favorable provision (other than pricing, maturity,
upfront, arrangement, structuring, underwriting, ticking, consent, amendment and other fees, participation in mandatory prepayments
or commitment reductions and immaterial terms) is added for the benefit of any Additional/Replacement Revolving Commitments, no
consent shall be required from the Administrative Agent or any Lender to the extent that such financial maintenance covenant or
such other provision is (i) also added for the benefit of any then-existing Revolving Facility, in which case such terms may
be incorporated into this Agreement (or any other applicable Loan Document) for the benefit of the Revolving Facility without further
amendment or consent requirements or (ii) only applicable after the Revolving Termination Date);


 



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(iv)          other
than Customary Bridge Financings and Indebtedness incurred pursuant to the Inside Maturity Basket, the Incremental Term Loans shall
have a Weighted Average Life to Maturity no shorter than the remaining Weighted Average Life to Maturity of the Initial Term Loans
determined at the time of incurrence and shall not mature earlier than the Term Loan Maturity Date;


 


(v)           subject
to clause (iv) above, the interest rates and the amortization schedule applicable to any such Incremental Term Loans shall
be determined by the Borrower Representative and the applicable Incremental Term Lenders;


 


(vi)          no
Event of Default shall exist on the Incremental Facility Closing Date with respect to any Incremental Amendment entered into in
connection therewith (and after giving effect to any Incremental Term Loans and/or Incremental Revolving Loans made thereunder);
provided, however, that in connection with a Limited Condition Transaction, the absence of an Event of Default shall be tested
on the date specified in Section 1.4;


 


(vii)        with
respect to any Dollar denominated Incremental Term Loans in the form of broadly syndicated term “B” loans, if
the all-in-yield (whether in the form of interest rate margins, including interest rate floors (subject to clause (1) of
the first proviso in this clause (vii)), upfront fees or OID (with any OID being equated to interest margin based on an
assumed four-year life to maturity)) with respect to the Incremental Term Loans made thereunder paid by any Borrower to all
lenders generally (as determined by the Borrower Representative and the applicable Incremental Arranger) (but excluding
any arrangement, commitment, ticking, structuring or other similar fees payable in connection therewith, which shall not
be included and equated to interest rate) with respect to the Incremental Term Loans made thereunder exceeds the all-in
yield (after giving effect to interest rate margins (including the interest rate floors (subject to clause (1) of the
first proviso in this clause (vii)) and OID (equated to interest based on an assumed four-year life to maturity or, if
shorter, the remaining life to maturity thereof) paid by any Borrower to all lenders generally (computed in a manner
consistent with the foregoing) with respect to the Initial Term Loans that are denominated in the same currency as such
Incremental Term Loans, as the case may be, after giving effect to any increase or repricing thereof that has theretofore
become effective (it being understood that if any such repricing was effected as a refinancing tranche, the OID applicable to
the refinanced loans shall be taken into account), by more than 50 basis points (the amount of such excess above 50 basis
points being referred to herein as the “Incremental Yield Differential”), then, upon the effectiveness of
such Incremental Amendment, the Applicable Margin then in effect for such Initial Term Loans denominated in the same currency
shall automatically be increased by the Incremental Yield Differential (this clause (vii), after giving effect to the
final proviso to this clause (vii), the “MFN Provision”); provided, (1) if the Incremental
Term Loans include an interest-rate floor greater than the interest rate floor applicable to such Term Loans, the
differential between such interest rate floors shall be equated to the interest rate margins for purposes of determining
whether an increase to the Applicable Margin shall be required, but only to the extent an increase in the interest rate floor
applicable to such Term Loans would cause an increase in the Applicable Margin, and in such case either the interest rate
floor or the Applicable Margin (at the election of the Borrower Representative) applicable to such Term Loans shall be
increased to the extent of such differential between interest rate floors and (2) any Incremental Term Loans that
constitute fixed-rate Indebtedness shall be swapped to a floating rate on a customary matched-maturity basis; provided
further that the MFN Provision shall not apply to (A) any Incremental Term Loans having an aggregate principal amount not
exceeding the greater of $250,000,000 and 75% of Consolidated EBITDA as of the most recently ended Reference Period (as
selected by the Borrower Representative), (B) Incremental Term Loans scheduled to mature on or after the date that is one
year after the Term Loan Maturity Date as of the Closing Date, (C) Incremental Term Loans incurred after the date that is 18
months after the Closing Date or (D) Incremental Term Loans incurred in connection with an acquisition or other Investment
permitted hereunder;


 



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(viii)       the
Incremental Term Loans, Additional/Replacement Revolving Commitments and Revolving Commitment Increases may be denominated in Dollars,
any Alternative Currency and any other currency acceptable to the Incremental Arranger and the applicable Incremental Term Lenders
or Incremental Revolving Lenders, as the case may be;


 


(ix)          no
Incremental Term Loans, Additional/Replacement Revolving Commitments and Revolving Commitment Increases may be secured by any assets
other than the Collateral and no Incremental Term Loans and Revolving Commitment Increases shall be guaranteed by any person other
than the Borrowers and the Guarantors;


 


(x)           any
Incremental Term Loans may provide for the ability to participate (A) on a pro rata basis or non-pro rata basis in any voluntary
prepayment of Term Loans made pursuant to ‎Section 2.10(a) and (B) on
a pro rata or less than pro rata basis (but not on a greater than pro rata basis, other than in the case of prepayment with proceeds
of Indebtedness refinancing such Incremental Term Loans) in any mandatory prepayment of Term Loans required pursuant to ‎Section 2.11;


 


(xi)          except
as otherwise required or permitted by the foregoing, all other terms of any Incremental Term Loans shall be as agreed between the
applicable Borrowers and the Incremental Term Lenders; provided that if such Incremental Term Loans benefit from a financial
covenant that is more restrictive than Section 7.1 of this Agreement, such financial covenant shall be either (A) conformed
(or added) to the Loan Documents for the benefit of the Revolving Lenders pursuant to an amendment agreement between the Administrative
Agent and the applicable Borrowers or (B) applicable only to periods after the Revolving Termination Date or otherwise reasonably
satisfactory to the Administrative Agent; and


 


(xii)         no
Additional/Replacement Revolving Commitments may be provided by an Affiliate of UK Holdco.


 


(b)       The
Revolving Commitment Increases shall be treated substantially the same as the Revolving Commitments being increased, and shall
be considered to be part of the Class of Revolving Facility being increased (it being understood that (x) if required
to consummate the provision of Revolving Commitment Increases, the pricing, interest rate margins, rate floors and facility fees
on the Class of Revolving Commitments being increased may be increased and additional upfront or similar fees may be payable
to the lenders providing the Revolving Commitment Increase (without any requirement to pay such fees to any existing Revolving
Lenders or the requirement to obtain the consent of any Lender) and (y) other terms that are more favorable to the lenders
providing the Revolving Commitment Increase may be incorporated into this Agreement (or any other applicable Loan Document) for
the benefit of the Class of Revolving Commitments being increased without the need for the consent of any Lender). Each notice
from the Borrower Representative to the Administrative Agent and the Incremental Arranger pursuant to Section 2.25(a) shall
set forth the requested amount and principal proposed terms of the relevant Incremental Term Loans, Additional/Replacement Revolving
Commitments or Revolving Commitment Increase.


 



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(c)        Incremental
Term Loans may be made, and Additional/Replacement Revolving Commitments and Revolving Commitment Increases may be provided, by
any existing Lender or any Additional Lender (provided that no existing Lender shall be obligated to provide any portion
of any Incremental Facility), in each case on terms permitted in this Section 2.25, and, to the extent not permitted
in this Section 2.25, all terms and documentation with respect to any Incremental Term Loan, Additional/Replacement
Revolving Commitments or Revolving Commitment Increase which relate to provisions of a mechanical (including with respect to the
Collateral and currency mechanics) or administrative nature, shall in each case be reasonably satisfactory to the Administrative
Agent; provided that the Administrative Agent shall not be required to execute, accept or acknowledge any Incremental Amendment
(as defined below) or related documentation which contains (by express language or omission) any material deviation from the terms
of this Section 2.25. Commitments in respect of Incremental Term Loans, Additional/Replacement Revolving Commitments
and Revolving Commitment Increases shall become Commitments (or in the case of a Revolving Commitment Increase to be provided by
an existing Revolving Lender, an increase in such Lender’s applicable Revolving Commitment) under this Agreement pursuant
to an amendment (an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents,
executed by the Borrower Representative, each Lender agreeing to provide such Commitment, if any, each Additional Lender, if any,
and, in the case of an Incremental Facility incurred by a Subsidiary Guarantor, such Subsidiary Guarantor (it being understood
and agreed that any such Subsidiary Guarantor shall be organized in an Applicable Jurisdiction). The Incremental Amendment may,
without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary
or appropriate, in the reasonable opinion of the Incremental Arranger and the Borrower Representative, to effect the provisions
of this Section (including (i) any amendments that are not adverse to the interests of any Lender that are made to effectuate
changes necessary to enable any Incremental Term Loans that are intended to be fungible with an existing Class of Term Loans
to be fungible with such Term Loans, which shall include any amendments to Section 2.3 that do not reduce the ratable
amortization received by each Lender thereunder and (ii) any amendments that are reasonably necessary to account for any Subsidiary
Guarantor as a Borrower, in each case without the need for any further consent); provided that any terms relating to provisions
of an operational nature (including with respect to the Collateral and currency mechanics) or administrative nature shall be reasonably
satisfactory to the Administrative Agent). Notwithstanding anything in Section 5.2 to the contrary, the effectiveness
of any Incremental Amendment and the occurrence of any credit event (including the making (but not the conversion or continuation)
of a Loan and the issuance, increase in the amount, or extension of a Letter of Credit thereunder) pursuant to such Incremental
Amendment shall be subject solely to the satisfaction of such conditions as the parties thereto shall agree and the conditions
set forth in this Section 2.25 (the effective date of any such Incremental Amendment, an “Incremental Facility Closing
Date”). The Borrowers will use the proceeds of the Incremental Term Loans, Additional/Replacement Revolving Commitments
and Revolving Commitment Increases for any purpose not prohibited by this Agreement.


 


(d)        Upon
each Revolving Commitment Increase pursuant to this Section, each Revolving Lender immediately prior to such increase will automatically
and without further act be deemed to have assigned to each Lender providing a portion of the Revolving Commitment Increase (each
a “Revolving Commitment Increase Lender”) in respect of such increase, and each such Revolving Commitment Increase
Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Lender’s participations
hereunder in outstanding Letters of Credit and Swingline Loans such that, after giving effect to each such deemed assignment and
assumption of participations, the percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit
and (ii) participations hereunder in Swingline Loans held by each Revolving Lender (including each such Revolving Commitment
Increase Lender) will equal the percentage of the aggregate Revolving Commitments of all Revolving Lenders represented by such
Revolving Lender’s Revolving Commitment and if, on the date of such increase, there are any Revolving Loans outstanding,
such Revolving Loans shall on or prior to the effectiveness of such Revolving Commitment Increase either be prepaid from the proceeds
of additional Revolving Loans made hereunder or assigned to a Revolving Commitment Increase Lender (in each case, reflecting such
increase in Revolving Commitments, such that Revolving Loans are held ratably in accordance with each Revolving Lender’s
Pro Rata Share, after giving effect to such increase), which prepayment or assignment shall be accompanied by accrued interest
on the Revolving Loans being prepaid and any costs incurred by any Lender in accordance with Section 2.21 (it being
understood that the foregoing provisions shall apply only to an increase in the amount of the Revolving Commitments of any Class and
not to any additional tranches of Revolving Loans). The Administrative Agent and the Lenders hereby agree that the minimum borrowing,
pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the transactions
effected pursuant to the immediately preceding sentence. For the avoidance of doubt, this Section 2.25(d) shall
apply only to such Class of Revolving Commitments that are the same Class as the Incremental Revolving Loans and shall
not apply to any other Class of Revolving Loans.


 



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(e)        Notwithstanding
anything to the contrary herein, this Section 2.25 shall supersede any provisions in Sections 2.17, 5.2
or 11.1 to the contrary and Section 2.17 shall be deemed to be amended to implement any Incremental Amendment.


 


(f)         If
the Incremental Arranger is not the Administrative Agent, the actions authorized to be taken by the Incremental Arranger herein
shall be done in consultation with the Administrative Agent and, with respect to the preparation of any documentation necessary
or appropriate to carry out the provisions of this Section 2.25 (including amendments to this Agreement and the other
Loan Documents), any comments to such documentation reasonably requested by the Administrative Agent shall be reflected therein.


 


2.26           Refinancing
Amendments.


  


(a)        At
any time after the Closing Date, a Borrower or Subsidiary Guarantor may obtain, from any Lender or any Additional Lender, Permitted
Credit Agreement Refinancing Debt in respect of (1) all or any portion of the Term Loans then outstanding under this Agreement
(which for purposes of this clause (1) will be deemed to include any then outstanding Other Term Loans) or (2) all or
any portion of the Revolving Loans (or unused Revolving Commitments) under this Agreement (which for purposes of this clause (2) will
be deemed to include any then outstanding Other Revolving Loans and Other Revolving Commitments), in the form of (x) Other
Term Loans or Other Term Commitments or (y) Other Revolving Loans or Other Revolving Commitments, as the case may be, in each
case pursuant to a Refinancing Amendment; provided that such Permitted Credit Agreement Refinancing Debt:


 


(i)            shall
not be permitted to rank senior in right of payment or security to the other Loans and Commitments hereunder;


 


(ii)           will
have such pricing, premiums, optional prepayment terms and financial covenants as may be agreed by the Borrower Representative
and the Lenders thereof;


 


(iii)          (x) with
respect to any Other Revolving Loans or Other Revolving Commitments, will have a maturity date that is not prior to the maturity
date of Revolving Loans (or unused Revolving Commitments) being Refinanced and (y) other than Customary Bridge Financings
and Indebtedness incurred pursuant to the Inside Maturity Basket, with respect to any Other Term Loans or Other Term Commitments,
will have a maturity date that is not prior to the maturity date of, and will have a Weighted Average Life to Maturity that is
not shorter than, the remaining Weighted Average Life to Maturity of the Term Loans being Refinanced determined at the time of
incurrence;


 


(iv)          subject
to clause (ii) above, will have terms and conditions that are (i) substantially identical to, or, taken as a whole, not
materially more favorable to the Lenders or Additional Lenders providing such Permitted Credit Agreement Refinancing Debt than,
the Refinanced Debt (as determined by the Borrower Representative in good faith), (ii) then-current market terms (as determined
by the Borrower Representative in good faith at the time of incurrence or issuance (or the obtaining of a commitment with respect
thereto)) for the applicable type of Indebtedness; provided that if such Permitted Credit Agreement Refinancing Debt benefits
from a financial covenant that is more restrictive than Section 7.1 of this Agreement, such financial covenant shall
be either (A) conformed (or added) to the Loan Documents for the benefit of the Revolving Lenders pursuant to an amendment
agreement between the Administrative Agent and the applicable Borrowers or (B) applicable only to periods after the Revolving
Termination Date or otherwise reasonably satisfactory to the Administrative Agent or (iii) reasonably acceptable to the Administrative
Agent (it being understood that if any financial maintenance covenant or other more favorable provision is added for the benefit
of any Permitted Credit Agreement Refinancing Debt, no consent shall be required from the Administrative Agent or any Lender to
the extent that such financial maintenance covenant or other provision is (i) also added for the benefit of the Refinanced
Debt, in which case such terms may be incorporated into this Agreement (or any other applicable Loan Document) for the benefit
of the Refinanced Debt without further amendment or consent requirements or (ii) only applicable after the maturity of the
Refinanced Debt);


 



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(v)           the
proceeds of such Permitted Credit Agreement Refinancing Debt shall be applied, substantially concurrently with the incurrence thereof,
to the prepayment of outstanding Term Loans or reduction of Revolving Commitments being so Refinanced (and repayment of Revolving
Loans outstanding thereunder); and


 


(vi)          shall
not be secured by any assets other than the Collateral and shall not be guaranteed by any person other than the Borrowers and the
Guarantors.


 


The effectiveness of any Refinancing Amendment
shall be subject to the satisfaction on the date thereof of each of the conditions set forth in Section 5.2 (unless
waived by the Lenders providing such Permitted Credit Agreement Refinancing Debt) and, to the extent reasonably requested by the
Refinancing Arranger, receipt by the Refinancing Arranger of legal opinions, board resolutions, officers’ certificates and/or
reaffirmation agreements consistent with those delivered on the Closing Date under Section 5.1 (other than changes
to such legal opinions resulting from a change in law, change in facts or changes to counsel’s form of opinion). Any Refinancing
Amendment may provide for the issuance of Letters of Credit for the account of the Borrower Representative or any Restricted Subsidiary,
pursuant to any Other Revolving Commitments established thereby, in each case on terms substantially equivalent to the terms applicable
to Letters of Credit under the Revolving Commitments subject to the approval of the Issuing Lenders.


 


(b)        The
Refinancing Arranger shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment. Each of the parties
hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent
(but only to the extent) necessary to reflect the existence and terms of the Permitted Credit Agreement Refinancing Debt incurred
pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Other Term Loans, Other
Revolving Loans, Other Revolving Commitments and/or Other Term Commitments).


 


(c)         Any
Refinancing Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan
Documents as may be necessary or appropriate, in the reasonable opinion of Refinancing Arranger and the Borrower Representative,
in consultation with the Administrative Agent, to effect the provisions of this Section. In addition, if so provided in the relevant
Refinancing Amendment and with the consent of each Issuing Lender, participations in Letters of Credit expiring on or after the
then-existing Revolving Termination Date shall be reallocated on such date from Lenders holding Revolving Commitments to Lenders
holding extended revolving commitments in accordance with the terms of such Refinancing Amendment; provided, however,
that such participation interests shall, upon receipt thereof by the relevant Lenders holding revolving commitments, be deemed
to be participation interests in respect of such revolving commitments and the terms of such participation interests (including
the commission applicable thereto) shall be adjusted accordingly.


 



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(d)        Notwithstanding
anything to the contrary in this Agreement, this Section 2.26 shall supersede any provisions in Sections 2.17
or 11.1 to the contrary and the Borrowers and the Administrative Agent may amend Section 2.17 to implement any
Refinancing Amendment.


 


(e)         If
the Refinancing Arranger is not the Administrative Agent, the actions authorized to be taken by the Refinancing Arranger herein
shall be done in consultation with the Administrative Agent and, with respect to the preparation of any documentation necessary
or appropriate to carry out the provisions of this Section 2.26 (including amendments to this Agreement and the other
Loan Documents), any comments to such documentation reasonably requested by the Administrative Agent shall be reflected therein.


 


2.27           Defaulting
Lenders.


 


(a)        Adjustments.
Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such
time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable law:


 


(i)            Waivers
and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in the definitions of “Required Lenders”, “Majority Revolving
Lenders” and “Majority Term Lenders” and otherwise as set forth in Section 11.1.


 


(ii)           Reallocation
of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 9 or otherwise, and including
any amounts made available to the Administrative Agent by such Defaulting Lender pursuant to Section 11.8), 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 such Defaulting Lender to the Administrative Agent hereunder; second, in the case of a Revolving Lender,
to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Lenders and the Swingline
Lender hereunder; third, as the Borrowers may request (so long as no Default or Event of Default exists), to the funding
of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as
determined by the Administrative Agent; fourth, in the case of a Revolving Lender, if so determined by the Administrative
Agent and the Borrowers, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of such
Defaulting Lender to fund Loans under this Agreement; fifth, to the payment of any amounts owing to the Lenders, the Issuing
Lenders or the Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, such Issuing
Lender or the Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations
under this Agreement; sixth, so long as no Default or Event of Default exists, to the payment of any amounts owing to the
Borrowers as a result of any judgment of a court of competent jurisdiction obtained by the Borrowers against such Defaulting Lender
as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and seventh, to such 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 or L/C Advances and such Lender is a Defaulting Lender under clause (a) of the definition thereof,
such payment shall be applied solely to pay the relevant Loans of, and L/C Advances owed to, the relevant non-Defaulting Lenders
on a pro rata basis prior to being applied pursuant to Section 3.2(b). Any payments, prepayments or other amounts
paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral
pursuant to Section 3.2(b) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably
consents hereto.


 



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(iii)          Certain
Fees. Such Defaulting Lender shall not be entitled to receive or accrue Letter of Credit fees, any commitment fee pursuant
to Section 2.8(a) or any default interest pursuant to Section 2.14(c) for any period during which
that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such fee or interest that otherwise would
have been required to have been paid to such Defaulting Lender).


 


(iv)          Reallocation
of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes
of computing the amount of the obligation of each non-Defaulting Lender to acquire, Refinance or fund participations in Swingline
Loans and Letters of Credit pursuant to Sections 2.7 and 3.4, respectively, the “Pro Rata Share” of each
non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of such Defaulting Lender; provided
that the aggregate obligation of each non-Defaulting Lender to acquire, Refinance or fund participations in Letters of Credit and
Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of such non-Defaulting Lender
minus (2) the aggregate principal amount of the Revolving Loans of such Lender. In the event non-Defaulting Lenders’
obligations to acquire, Refinance or fund participations in Letters of Credit are increased as a result of a Defaulting Lender,
then all Letter of Credit fees that would have been paid to such Defaulting Lender shall be paid to such non-Defaulting Lenders
ratably in accordance with such increase of such non-Defaulting Lender’s obligations to acquire, Refinance or fund participations
in Letters of Credit.


 


(b)        Defaulting
Lender Cure. If the Borrower Representative, the Administrative Agent, the Swingline Lender and each Issuing Lender agree in
writing that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify
the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein
(which may include arrangements with respect to any cash collateral), such Lender will, to the extent applicable, purchase that
portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary
to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata
basis by the Lenders in accordance with their Pro Rata Share (without giving effect to Section 2.27(a)(iv)), whereupon
such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to
fees accrued or payments made by or on behalf of the Borrowers while such Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties and subject to Section 11.16,
no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising
from that Lender’s having been a Defaulting Lender.


 


(c)         No
Release. Subject to Section 11.16, the provisions hereof attributable to Defaulting Lenders shall not release or
excuse any Defaulting Lender from failure to perform its obligations hereunder.


 



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2.28           Loan
Modification Offers.


 


(a)         The
Borrowers may, on one or more occasions, by written notice from the Borrower Representative to the Administrative Agent, make one
or more offers (each, a “Loan Modification Offer”) to all the Lenders of one or more Classes on the same terms
to each such Lender (each Class subject to such a Loan Modification Offer, a “Specified Class”) to make
one or more Permitted Amendments pursuant to procedures reasonably specified by any Person that is not an Affiliate of any Borrower
appointed by the Borrower Representative, after consultation (and, with respect to any documentation requiring execution of the
Administrative Agent in its capacity as such, with the consent of the Administrative Agent, not to be unreasonably withheld, delayed
or conditioned) with the Administrative Agent, as agent under such Loan Modification Agreement (as defined below) (such Person
(who may be the Administrative Agent, if it so agrees), the “Loan Modification Agent”) and reasonably acceptable
to the Borrower Representative; provided that (i) any such offer shall be made by the Borrowers to all Lenders of the
Specified Class on a pro rata basis, (ii) [reserved], (iii) any applicable Minimum Extension Condition shall
be satisfied unless waived by the Borrower Representative and (iv) in the case of any Permitted Amendment relating to the
Revolving Commitments, each Issuing Lender and the Swingline Lender shall have approved such Permitted Amendment to the extent
its commitment to issue Letters of Credit or make Swingline Loans, as applicable, is extended. Such notice shall set forth (i) the
terms and conditions of the requested Permitted Amendment and (ii) the date on which such Permitted Amendment is requested
to become effective (which shall not be less than 5 Business Days nor more than 45 Business Days after the date of such notice,
unless otherwise agreed to by the Loan Modification Agent); provided that, notwithstanding anything to the contrary, assignments
and participations of Specified Classes shall be governed by the same or, at the Borrower Representative’s discretion, more
restrictive assignment and participation provisions than those set forth in Section 11.6. Permitted Amendments shall
become effective only with respect to the Loans and Commitments of the Lenders of the Specified Class that accept the applicable
Loan Modification Offer (such Lenders, the “Accepting Lenders”) and, in the case of any Accepting Lender, only
with respect to such Lender’s Loans and Commitments of such Specified Class as to which such Lender’s acceptance
has been made. No Lender shall have any obligation to accept any Loan Modification Offer.


 


(b)        A
Permitted Amendment shall be effected pursuant to an amendment to this Agreement (a “Loan Modification Agreement”)
executed and delivered by the Borrower Representative and any other applicable Borrower, each applicable Accepting Lender and the
Loan Modification Agent. The Loan Modification Agent shall promptly notify each Lender as to the effectiveness of each Loan Modification
Agreement. Each Loan Modification Agreement may, without the consent of any Lender other than the applicable Accepting Lenders,
effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the
Loan Modification Agent and the Borrower Representative, to give effect to the provisions of this Section 2.28, including
any amendments necessary to treat the applicable Loans and/or Commitments of the Accepting Lenders as a new “Class”
of loans and/or commitments hereunder; provided that (x) no Loan Modification Agreement may provide for (i) any
Class resulting from a Loan Modification Agreement to be secured by any Collateral or other assets of any Group Member that
does not also secure the Loans and (ii) so long as any Loans are outstanding, any mandatory prepayment provisions that do
not also apply to the Loans of the Specified Class on a pro rata basis or greater than pro rata basis (or, with respect
to prepayments made with proceeds of Permitted Credit Agreement Refinancing Debt, on a pro rata basis, less than pro rata basis
or greater than pro rata basis), (y) in the case of any Loan Modification Offer relating to Revolving Commitments or Revolving
Loans, except as otherwise agreed to by each Issuing Lender, (i) the allocation of the participation exposure with respect
to any then-existing or subsequently issued Letter of Credit as between the commitments of such new “Class” and the
remaining Revolving Commitments shall be made on a ratable basis as between the commitments of such new “Class” and
the remaining Revolving Commitments and (ii) the Revolving Termination Date may not be extended without the prior written
consent of each Issuing Lender whose commitment to issue Letters of Credit is extended and (z) the terms and conditions of
the applicable Loans and/or Commitments of the Accepting Lenders (excluding pricing, fees, rate floors and optional prepayment
or redemption terms) shall be substantially identical or (taken as a whole) shall be no more favorable to the Accepting Lenders
than those applicable to the Specified Class (except for (1) financial covenants or other covenants or provisions applicable
only to periods after the Latest Maturity Date at the time of such Loan Modification Offer, as may be agreed by the Borrower Representative
and the Accepting Lenders, (2) any terms that are confirmed (or added) to the Loan Documents for the benefit of the lenders
of the Specified Class pursuant to such Loan Modification Agreement and (3) pricing, premiums and fees).


 



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(c)        Subject
to Section 2.28(b), the Borrowers may at their election specify as a condition (a “Minimum Extension Condition”)
to consummating any such Loan Modification Agreement that a minimum amount (to be determined and specified in the relevant Loan
Modification Offer in the Borrowers’ sole discretion and may be waived by the Borrowers) of Loans of any or all applicable
Classes be extended.


 


(d)        Notwithstanding
anything to the contrary in this Agreement, this Section 2.28 shall supersede any provisions in Sections 2.17
or 11.1 to the contrary and the Borrowers and the Administrative Agent may amend Section 2.17 to implement any
Loan Modification Agreement.


 


(e)         If
the Loan Modification Agent is not the Administrative Agent, the actions authorized to be taken by the Loan Modification Agent
herein shall be done in consultation with the Administrative Agent and, with respect to the preparation of any documentation necessary
or appropriate to carry out the provisions of this Section 2.28 (including amendments to this Agreement and the other
Loan Documents), any comments to such documentation reasonably requested by the Administrative Agent shall be reflected therein.


 


2.29           Currency
Equivalents.


 


The Administrative Agent
shall determine the Dollar Amount of each Revolving Loan denominated in an Alternative Currency and L/C Obligation in respect of
Letters of Credit denominated in an Alternative Currency (i) for Revolving Loans, as of the first day of each Interest Period
applicable thereto, (ii) upon the issuance and increase of any Letter of Credit denominated in an Alternative Currency, (iii) as
of the end of each fiscal quarter of UK Holdco and (iv) from time to time in its discretion, and shall promptly notify the
Borrower Representative, the Revolving Borrowers and the Revolving Lenders of each Dollar Amount so determined by it. Each such
determination shall be based on the Exchange Rate on the date of the related Borrowing request for purposes of the initial such
determination for any Revolving Loan.


 


2.30           Additional
Alternative Currencies.


 


(a)         The
Borrower Representative (on behalf of any Additional Revolving Borrower) may from time to time request that Revolving Loans be
made and/or Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternative
Currency”; provided that such requested currency is a lawful currency that is readily available and freely transferable
and convertible into Euros. In the case of any such request with respect to the making of Revolving Loans, such request shall be
subject to the approval of the Administrative Agent and the Revolving Lenders; and, in the case of any such request with respect
to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent and the applicable
Issuing Lender.


 


(b)         Any
such request shall be made to the Administrative Agent not later than 11:00 a.m. (New York City time) fifteen Business Days
prior to the date of the desired Borrowing (or such other time or date as may be agreed by the Administrative Agent and, in the
case of any such request pertaining to Letters of Credit, the relevant Issuing Lender, in its or their sole discretion). In the
case of any such request pertaining to Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof
and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the relevant
Issuing Lender. Each such Revolving Lender (in the case of any such request pertaining to Revolving Loans) or the Issuing Lender
(in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m. (New
York City time), ten Business Days after receipt of such request whether it consents, in its sole discretion, to the making of
Revolving Loans or the issuance of Letters of Credit, as the case may be, in the requested currency.


 



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(c)        Any
failure by any Revolving Lender or any Issuing Lender, as the case may be, to respond to such request within the time period specified
in the preceding paragraph (b) shall be deemed to be a refusal by such Revolving Lender or Issuing Lender, as the case may
be, to permit Revolving Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent
and all the Revolving Lenders that would be obligated to make Revolving Loans denominated in such requested currency consent to
making Revolving Loans in such requested currency, the Administrative Agent shall so notify the Borrower Representative and such
currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Borrowings of Revolving
Loans; and if the Administrative Agent and the relevant Issuing Lender consent to the issuance of Letters of Credit in such requested
currency, the Administrative Agent shall so notify the Borrower Representative and such currency shall thereupon be deemed for
all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent
shall fail to obtain the requisite consent to any request for an additional currency under this Section 2.30, the Administrative
Agent shall promptly so notify the Borrower Representative.


 


SECTION 3.

LETTERS OF CREDIT


 


3.1             L/C
Commitment.


 


(a)        Subject
to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth
in Section 3.4(a), agrees to issue standby letters of credit and, to the extent agreed to by an Issuing Lender, bank
guarantees and commercial letters of credit providing for the payment of cash upon the honoring of a presentation thereunder (collectively
with the Existing Letters of Credit, “Letters of Credit”) for the account of UK Holdco or the account of any
of the Restricted Subsidiaries (provided that the Borrower Representative shall be an applicant, and be fully and unconditionally
liable, with respect to each Letter of Credit issued for the account of a Restricted Subsidiary) on any Business Day prior to the
date that is thirty (30) days prior to the Revolving Termination Date in such form as may be approved from time to time by the
Issuing Lenders; provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving
effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment, (ii) the aggregate Dollar Amount of
the Available Revolving Commitments would be less than zero or (iii) the L/C Obligation of such Issuing Lender would exceed
its L/C Sublimit. Each Letter of Credit shall (i) be denominated in Dollars or one or more Alternative Currencies (any Letter
of Credit denominated in an Alternative Currency, an “Alternative Currency Letter of Credit”); provided
that Royal Bank of Canada, JPMorgan Chase Bank, N.A. and their respective affiliates shall not be required to issue Alternative
Currency Letters of Credit without their consent; (ii) have a stated amount acceptable to the relevant Issuing Lender, (iii) expire
no later than the earlier of (x) unless otherwise agreed by the applicable Issuing Lender, the first anniversary of its date
of issuance, and (y) the date that is 3 Business Days prior to the Revolving Termination Date, provided that any Letter
of Credit with the consent of the applicable Issuing Lender may provide for the renewal or extension thereof for additional one-year
periods or such longer periods of time as may be agreed by the Issuing Lender (which shall in no event extend beyond the date referred
to in clause (y) above, except to the extent the L/C Obligations under such Letter of Credit have been Cash Collateralized);
provided, further, that the Issuing Lenders shall not renew or extend any such Letter of Credit if it has received
written notice (or otherwise has knowledge) that an Event of Default has occurred and is continuing or any of the conditions set
forth in Section 5.2 are not satisfied prior to the date of the decision to renew or extend such Letter of Credit)
and (iv) be otherwise reasonably acceptable in all respects to the Issuing Lenders. Unless otherwise directed by the Issuing
Lenders, the Borrower Representative shall not be required to make a specific request to an Issuing Lender for any such extension.
Once any Letter of Credit has been issued that may be extended automatically pursuant to the foregoing, the Revolving Lenders shall
be deemed to have authorized (but may not require) the Issuing Lenders to permit the extension of such Letter of Credit, including
to the date that is 3 Business Days prior to the Revolving Termination Date. All Existing Letters of Credit shall be deemed to
have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions
hereof. Existing Letters of Credit shall constitute utilization of the Revolving Commitments. Notwithstanding anything herein to
the contrary, in no event shall Goldman Sachs Bank USA or any other Issuing Bank be required to issue Letters of Credit other than
standby letters of credit.


 



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(b)        No
Issuing Lender shall at any time be obligated to issue any Letter of Credit (i) if such issuance would conflict with, or cause
such Issuing Lender or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law, (ii) if any
order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing
Lender from issuing such Letter of Credit, or any Requirement of Law applicable to such Issuing Lender or any request or directive
(whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Lender shall prohibit,
or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Letter of Credit in particular
or shall impose upon such Issuing Lender with respect to such Letter of Credit any restriction, reserve or capital requirement
(for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon
such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which such Issuing
Lender in good faith deems material to it or (iii) as otherwise provided in Section 3.2(b) below.


 


(c)        Subject
to the terms and conditions hereof, (i) Letters of Credit may be issued on the Closing Date to backstop or replace letters
of credit outstanding on the Closing Date or (ii) all letters of credit issued for the account of the Borrower Representative
or any Restricted Subsidiary and outstanding on the Closing Date and issued by an entity that is an Issuing Lender under this Agreement,
which, by its execution of this Agreement, has agreed to act as an Issuing Lender hereunder and listed on Schedule 3.1 (each,
an “Existing Letter of Credit”) shall automatically be continued hereunder on the Closing Date by the applicable
Issuing Lender, and as of the Closing Date the Revolving Lenders shall acquire a participation therein as if such Existing Letter
of Credit were issued hereunder, and each such Existing Letter of Credit shall be deemed a Letter of Credit for all purposes of
this Agreement as of the Closing Date without any further action by the Borrower Representative.


 


3.2             Procedure
for Issuance of Letter of Credit.


 


(a)            The
Borrower Representative may from time to time on any Business Day occurring from (or, in the case of any Letter of Credit permitted
to be issued on the Closing Date, prior to) the Closing Date until the Revolving Termination Date request that an Issuing Lender
issue a Letter of Credit by delivering to the relevant Issuing Lender, with a copy to the Administrative Agent, at its address
for notices specified herein an Application therefor, completed to the satisfaction of such Issuing Lender, and such other certificates,
documents and other papers and information as such Issuing Lender may request. Promptly upon receipt of any Application, the relevant
Issuing Lender will confirm with the Administrative Agent that the Administrative Agent has received a copy of the Application,
and if not, will furnish the Administrative Agent with a copy thereof. Unless such Issuing Lender has received written notice from
the Administrative Agent or the Borrower Representative, at least two Business Days prior to the requested date of issuance, or
one Business Day prior to the requested date of amendment, as appropriate, of the applicable Letter of Credit, that one or more
of the conditions contained in Section 5 shall not then be satisfied, then, subject to the terms and conditions hereof,
such Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to
it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested
thereby (but in no event shall any Issuing Lender be required to issue any Letter of Credit (a) earlier than (i) five
Business Days, in the case of standby Letters of Credit or similar agreements or (ii) to the extent an Issuing Lender agrees
to issue bank guarantees or commercial Letters of Credit, or similar agreements, such period of time as is acceptable to such Issuing
Lender, or (b) later than 10 Business Days (or in each case such shorter period as may be agreed to by an Issuing Lender in
any particular instance) after, its receipt of the Application therefor and all such other certificates, documents and other papers
and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may
be agreed to by the Issuing Lenders and the Borrower Representative. Each Issuing Lender shall furnish a copy of such Letter of
Credit to the Borrower Representative and the Administrative Agent promptly following the issuance thereof. The Administrative
Agent shall promptly furnish to the Revolving Lenders notice of the issuance of each Letter of Credit (including the amount thereof).


 






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(b)        Cash
Collateral. (i) If an Issuing Lender has honored any full or partial drawing request under any Letter of Credit and such
drawing has resulted in an L/C Borrowing and the conditions set forth in Section 5.2 to a Revolving Borrowing cannot
then be met, (ii) if, as of the Letter of Credit Expiration Date, any Letter of Credit may for any reason remain outstanding
and partially or wholly undrawn, (iii) if any Event of Default occurs and is continuing and the Administrative Agent or the
Required Lenders, as applicable, require the Revolving Borrowers to Cash Collateralize the L/C Obligations pursuant to Section 9.3
or (iv) an Event of Default set forth under Section 9.1(g) occurs and is continuing, then the Revolving Borrowers
shall Cash Collateralize the then Outstanding Amount of all L/C Obligations (in an amount equal to such Outstanding Amount determined
as of the date of such L/C Borrowing or the Letter of Credit Expiration Date, as the case may be), and shall do so not later than
2:00 p.m. (New York City time) on (x) in the case of the immediately preceding clauses (i) through (iii), (1) if
the Borrower Representative receives notice thereof prior to 11:00 a.m. (New York City time), on any Business Day, on the
Business Day immediately following receipt of such notice or (2) if the Borrower Representative receives notice thereof after
11:00 a.m. (New York City time), on any Business Day, on the second Business Day immediately following receipt of such notice
and (y) in the case of the immediately preceding clause (iv), the Business Day on which an Event of Default set forth under
Section 9.1(g) occurs or, if such day is not a Business Day, the Business Day immediately succeeding such day.
At any time that there shall exist a Defaulting Lender, if any Defaulting Lender Fronting Exposure remains outstanding (after giving
effect to Section 2.27(a)(iv)), then promptly upon the request of the Administrative Agent, each Issuing Lender or
the Swingline Lender, the Revolving Borrowers shall Cash Collateralize the Defaulting Lender Fronting Exposure and deliver to the
Administrative Agent Cash Collateral in an amount sufficient to cover such Defaulting Lender Fronting Exposure (after giving effect
to any Cash Collateral provided by the Defaulting Lender); provided that if any Defaulting Lender Fronting Exposure is not
Cash Collateralized in accordance with the foregoing to the reasonable satisfaction of the Issuing Lenders, the Issuing Lenders
shall have no obligation to issue new Letters of Credit or to extend, renew or amend existing Letters of Credit to the extent Letter
of Credit exposure would exceed the commitments of the non-Defaulting Lenders. For purposes hereof, “Cash Collateralize”
means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the relevant Issuing Lender and the
Lenders, as collateral for the L/C Obligations, Cash Collateral pursuant to documentation in form and substance reasonably satisfactory
to the Administrative Agent and the relevant Issuing Lender (which documents are hereby consented to by the Lenders). Derivatives
of such term have corresponding meanings. The Revolving Borrowers hereby grant to the Administrative Agent, for the benefit of
the Issuing Lenders and the Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds
of the foregoing. Cash Collateral shall be maintained in a Cash Collateral Account and may be invested in readily available Cash
Equivalents. If at any time the Administrative Agent reasonably determines that any funds held as Cash Collateral are subject to
any right or claim of any Person other than the Administrative Agent (on behalf of the Secured Parties) or that the total amount
of such funds is less than the aggregate Outstanding Amount of all L/C Obligations (or in the case of Cash Collateral provided
with regard to Defaulting Lender Fronting Exposure, such amount of Defaulting Lender Fronting Exposure), the Revolving Borrowers
will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and
held in a Cash Collateral Account as aforesaid, an amount equal to the excess of (a) such aggregate Outstanding Amount over
(b) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent reasonably determines to
be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash
Collateral, such funds shall be applied, to the extent permitted under applicable Law, to reimburse the relevant Issuing Lender.
To the extent the amount of any Cash Collateral exceeds the then Outstanding Amount of such L/C Obligations and so long as no Event
of Default has occurred and is continuing, the excess shall be refunded to the Revolving Borrowers.


 



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3.3             Fees
and Other Charges.


 


(a)         The
Revolving Borrowers will pay a fee on the actual aggregate daily undrawn and unexpired amount of all outstanding Letters of Credit
(as described in Section 3.9 hereof) at a per annum rate equal to the Applicable Margin then in effect with respect
to Eurocurrency Loans under the Revolving Facility, less the amount of fronting fee referred to in the next sentence, shared ratably
among the Revolving Lenders and payable quarterly in arrears on each applicable Fee Payment Date after the issuance date. In addition,
the Revolving Borrowers shall pay to the applicable Issuing Lender for its own account a fronting fee which shall be the greater
of $500 per annum (solely to the extent invoiced and to the extent Letters of Credit issued by such Issuing Lender are outstanding
in the applicable period) and 0.125% per annum (or such lower fee as applicable Issuing Lender may agree) on the actual aggregate
daily undrawn and unexpired amount of all such Issuing Lender’s Letters of Credit amounts (as described in Section 3.9
hereof) outstanding during the applicable period, payable quarterly in arrears on each applicable Fee Payment Date after the issuance
date.


 


(b)        In
addition to the foregoing fees, the Revolving Borrowers shall pay or reimburse such Issuing Lender for such normal and customary
costs and expenses as are incurred or charged by the Issuing Lender in issuing, negotiating, effecting payment under, amending
or otherwise administering any Letter of Credit. Such costs and expenses shall be due and payable on demand and nonrefundable.


 


3.4             L/C
Participations.


 


(a)         The
Issuing Lenders irrevocably agree to grant and hereby grant to each L/C Participant, and, to induce the Issuing Lenders to issue
Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing
Lenders, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest
equal to such L/C Participant’s Revolving Percentage in the Issuing Lenders’ obligations and rights under and in respect
of each Letter of Credit and the amount of each draft paid by an Issuing Lender thereunder. Each L/C Participant agrees with the
Issuing Lenders that, if a draft is paid under any Letter of Credit for which an Issuing Lender is not reimbursed in full by the
Revolving Borrowers in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon
demand at such Issuing Lender’s address for notices specified herein an amount equal to such L/C Participant’s Revolving
Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. Each L/C Participant’s obligation
to pay such amount shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff,
counterclaim, recoupment, defense or other right that such L/C Participant may have against any Issuing Lender, the Revolving Borrowers,
any other Group Member or any other Person for any reason whatsoever, (ii) the occurrence or continuance of a Default or an
Event of Default or the failure to satisfy any of the other conditions specified in Section 5, (iii) any adverse
change in the condition (financial or otherwise) of the Borrower Representative and the Restricted Subsidiaries, (iv) any
breach of this Agreement or any other Loan Document by the Borrowers, any other Loan Party or any other L/C Participant or (v) any
other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.


 



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(b)           If
any amount required to be paid by any L/C Participant to an Issuing Lender pursuant to Section 3.4(a) in respect
of any unreimbursed portion of any payment made by such Issuing Lender under any Letter of Credit is paid to such Issuing Lender
within three Business Days after the date such payment is due, such L/C Participant shall pay to such Issuing Lender on demand
an amount equal to the product of (i) such amount, times (ii) the daily Overnight Rate during the period from and including
the date such payment is required to the date on which such payment is immediately available to the Issuing Lenders, times (iii) a
fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360. If any
such amount required to be paid by any L/C Participant pursuant to Section 3.4(a) is not made available to an
Issuing Lender by such L/C Participant within three Business Days after the date such payment is due, such Issuing Lender shall
be entitled to recover from such L/C Participant, on demand, such amount with interest thereon calculated from such due date at
the rate per annum applicable to ABR Loans under the Revolving Facility. A certificate of an Issuing Lender submitted to any L/C
Participant with respect to any amounts owing under this Section shall be conclusive in the absence of manifest error.


 


(c)        Whenever,
at any time after an Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant its pro
rata share of such payment in accordance with Section 3.4(a), an Issuing Lender receives any payment related to
such Letter of Credit (whether directly from the Borrower Representative or otherwise, including proceeds of collateral applied
thereto by such Issuing Lender), or any payment of interest on account thereof, such Issuing Lender will distribute to such L/C
Participant its pro rata share thereof; provided, however, that in the event that any such payment received
by such Issuing Lender shall be required to be returned by such Issuing Lender, such L/C Participant shall return to such Issuing
Lender the portion thereof previously distributed by such Issuing Lender to it.


 


3.5            Reimbursement
Obligation of the Revolving Borrowers. Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing
under such Letter of Credit, the applicable Issuing Lender shall promptly notify the Borrower Representative and the Administrative
Agent thereof. If any drawing is paid under any Letter of Credit, the Revolving Borrowers shall reimburse the Issuing Lenders
for the amount of (a) the drawing so paid and (b) any fees, charges or other costs or expenses incurred by such Issuing
Lender in connection with such payment, not later than 3:00 p.m. (New York City time) on (x) if such notice of drawing
is received (i) in the case of any drawing in any Alternative Currency, prior to 11:00 a.m. (London time) or (ii) in
the case of any drawing in Dollars, prior to 11:00 a.m. (New York time), in each case, on the first Business Day following
the date such drawing is paid by the Issuing Lenders and (y) otherwise, the second Business Day following the date such drawing
is paid by the Issuing Lenders (the “Honor Date”). Each such payment shall be made to an Issuing Lender at
its address for notices referred to herein in the currency in which the applicable Letter of Credit is denominated and in immediately
available funds. If the Revolving Borrowers fail to reimburse an Issuing Lender on the Honor Date, interest shall be payable on
any such amounts from the date on which the relevant drawing is paid until payment in full at the rate set forth in (x) until
the second Business Day next succeeding the date of the relevant notice, Section 2.14(b) and (y) thereafter,
Section 2.14(c).


 






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3.6           Obligations
Absolute. The Revolving Borrowers’ obligations under this Section 3 shall be absolute and unconditional
under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrowers may have
or have had against the Issuing Lenders, any beneficiary of a Letter of Credit or any other Person (it being understood that this
provision shall not preclude the ability of the Borrowers to bring any claim for damages against any such Person who has acted
with gross negligence or willful misconduct, as determined in a final and non-appealable decision of a court of competent jurisdiction).
The Borrowers also agree with the Issuing Lenders that the Issuing Lenders shall not be responsible for, and the Revolving Borrowers’
Reimbursement Obligations under Section 3.5 shall not be affected by, among other things, the validity or genuineness
of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged,
or any dispute between or among the Revolving Borrowers and any beneficiary of any Letter of Credit or any other party to which
such Letter of Credit may be transferred or any claims whatsoever of the Revolving Borrowers against any beneficiary of such Letter
of Credit or any such transferee. The Issuing Lenders shall not be liable for any error, omission, interruption or delay in transmission,
dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors
or omissions found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of the Issuing Lenders. The Revolving Borrowers agree that any action taken or omitted by the
Issuing Lenders under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of
gross negligence or willful misconduct (as determined in a final and non-appealable decision of a court of competent jurisdiction),
shall be binding on the Revolving Borrowers and shall not result in any liability of the Issuing Lenders to the Revolving Borrowers.


 


3.7           Letter
of Credit Payments. If any draft shall be presented for payment under any Letter of Credit, the applicable Issuing Lender
shall promptly notify the Borrower Representative of the date and amount thereof. The responsibility of the applicable Issuing
Lender to the Borrower Representative in connection with any draft presented for payment under any Letter of Credit shall, in
addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents
(including each draft) delivered under such Letter of Credit in connection with such presentment are in conformity with such Letter
of Credit.


 


3.8           Applications.
To the extent that any provision of any Application related to any Letter of Credit, or any other agreement submitted by the Borrower
Representative to, or entered into by the Borrower Representative with, the Issuing Lenders or any other Person relating to any
Letter of Credit, is inconsistent with the provisions of this Section 3, the provisions of this Section 3
shall control.


 


3.9           Letter
of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the
stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter
of Credit that, by its terms (or the terms of any applicable Application or other document, agreement or instrument entered into
by the applicable Issuing Lender and the Borrower Representative (or Restricted Subsidiary, if applicable) or in favor of the
applicable Issuing Lender and relating to such Letter of Credit) provides for one or more automatic increases in the stated amount
thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving
effect to all such increases, whether or not such maximum stated amount is in effect at such time.


 


3.10         Alternative
Currency Letters of Credit.


 


(a)            With
respect to any Alternative Currency Letter of Credit, the applicable Issuing Lender shall not later than the second Business Day
of each month, recalculate the Dollar Amount of the L/C Obligations under such Letter of Credit by notionally converting into Dollars
the Outstanding Amount of such L/C Obligations in accordance with Section 1.5(a) (a “Recalculation”)
and promptly deliver such Recalculation to the Administrative Agent.


 






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(b)            Each
Issuing Lender shall provide the Administrative Agent with prompt notice (and in any event within one Business Day) of any issuance,
increase, decrease, extension and/or termination of any Alternative Currency Letter of Credit;


 


(c)            Each
Issuing Lender shall provide the Administrative Agent with a consolidated list of all outstanding Alternative Currency Letters
of Credit not later than 9:00 a.m. (New York time), two Business Days prior to the last Business Day of each March, June,
September and December.


 


(d)            The
Administrative Agent shall use reasonable efforts to provide Letter of Credit fee invoices in connection with any Alternative Currency
Letters of Credit on the applicable Fee Payment Date (or within five Business Days thereafter). Any discrepancies in fee calculations
will be adjusted in the subsequent Fee Payment Date.


 


SECTION 4.

REPRESENTATIONS AND WARRANTIES


 


To induce the Administrative
Agent and the Lenders to enter into this Agreement and to make the Loans and issue or participate in the Letters of Credit, each
Loan Party (but with respect to Holdings, solely as set forth herein) hereby jointly and severally represents and warrants to the
Administrative Agent and each Lender, solely to the extent required by Section 5 hereof, that:


 


4.1           Financial
Condition.


 


(a)            [Reserved].


 


(b)            The
unaudited consolidated balance sheet at June 30, 2019 and related unaudited combined statements of operations, comprehensive
income (loss), changes in equity and cash flows related to Clarivate Analytics plc and its combined Subsidiaries for the six months
ended June 30, 2019 present fairly in all material respects the financial condition of Clarivate Analytics plc and its combined
Subsidiaries as at such applicable date, and the results of its operations and its combined stockholder’s equity and cash
flows for the six months then ended. All such financial statements, including the related schedules and notes thereto, have been
prepared in all material respects in accordance with GAAP applied consistently throughout the periods involved.


 


(c)            The
audited consolidated balance sheet at December 31, 2018 and related combined statements of operations, comprehensive income
(loss), changes in equity and cash flows related to Clarivate Analytics plc for the fiscal year ended December 31, 2018, in
each case reported on by and accompanied by an unqualified report as to going concern or scope of audit from PricewaterhouseCoopers
LLP, present fairly in all material respects the combined financial condition of Clarivate Analytics plc and its combined Subsidiaries
as at such applicable date, and the combined results of its operations and its combined stockholder’s equity and cash flows
for the respective fiscal year then ended. All such financial statements, including the related schedules and notes thereto, have
been prepared in all material respects in accordance with GAAP applied consistently throughout the periods involved (except as
approved by the aforementioned firm of accountants and disclosed therein).


 


4.2           No
Change. Since December 31, 2018, there has been no development or event that has had or could reasonably be expected
to have a Material Adverse Effect.


 






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4.3           Existence;
Compliance with Law. Each Group Member (a) is duly organized (or where applicable in the relevant jurisdiction, registered
or incorporated), validly existing and (where applicable in the relevant jurisdiction) in good standing under the laws of the
jurisdiction of its organization, registration or incorporation, as the case may be, (b) has the power and authority to own
and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged
and (c) is in compliance with all Requirements of Law, except in the case of clauses (a) (as it relates to good
standing and Group Members other than Holdings, UK Holdco and the Borrowers), (b) and (c) above, to the
extent that the failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.


 


4.4           Power;
Authorization; Enforceable Obligations.


 


(a)            Each
Loan Party has the corporate or other organizational power and authority, and the legal right, to enter into, make, deliver and
perform the Loan Documents to which it is a party and, in the case of the Borrowers, to obtain extensions of credit hereunder.
Each Loan Party has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance
of the Loan Documents to which it is a party and, in the case of the Borrowers, to authorize the extensions of credit on the terms
and conditions of this Agreement.


 


(b)            No
Governmental Approval or consent or authorization of, filing with, notice to or other act by or in respect of, any other Person
is required in connection with the extensions of credit hereunder or with the execution, delivery, performance and validity or
(under the laws of England and Wales or Luxembourg) to make admissible this Agreement or any of the Loan Documents in in the courts
of England and Wales or Luxembourg, except (i) Governmental Approvals, consents, authorizations, filings and notices that
have been obtained or made and are in full force and effect, (ii) the filings referred to in Section 4.15,
(iii) the Perfection Requirements and (iv) as would not reasonably be expected to result in a Material Adverse Effect.


 


(c)            Each
Loan Document has been duly executed and delivered on behalf of each applicable Loan Party. This Agreement constitutes, and each
other Loan Document upon execution will constitute, a legal, valid and binding obligation of each applicable Loan Party, enforceable
against each such Loan Party in accordance with its terms, except as enforceability may be limited by any Legal Reservations.


 


4.5           No
Legal Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the issuance of Letters
of Credit, the borrowings and guarantees hereunder and the use of the proceeds thereof (i) will not violate (x) any
Requirement of Law, (y) any Contractual Obligation of Holdings or any Group Member that is material to Holdings and its Subsidiaries,
taken as a whole, or (z) the Organizational Documents of any Loan Party, in the case of clauses (x) and (y), except
as would not reasonably be expected to result in a Material Adverse Effect and (ii) will not result in, or require, the creation
or imposition of any Lien on any of their respective properties or revenues pursuant to any Requirement of Law, any such Organizational
Documents or any such Contractual Obligation (other than the Liens created by the Security Documents and Permitted Liens).


 


4.6           Litigation.
No litigation, suit or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of any
Loan Party, threatened in writing by or against any Group Member or against any of their respective properties, assets or revenues
that would reasonably be expected to have a Material Adverse Effect.


 






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4.7           Ownership
of Property; Liens. Each Group Member has title in fee simple to, or a valid leasehold interest in, all its real property,
and good title to, or a valid leasehold interest in, all its other property, and none of such property is subject to any Lien
except as permitted by Section 7.7 and except where the failure to have such title or other interest would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.


 


4.8           Intellectual
Property. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect,
the Group Members own, or are licensed to use, all intellectual property necessary for the conduct in all material respects of
the business of UK Holdco and the Restricted Subsidiaries, taken as a whole, as currently conducted. No material claim has been
asserted and is pending by any Person challenging or questioning any Group Member’s use of any intellectual property or
the validity or effectiveness of any Group Member’s intellectual property or alleging that the conduct of any Group Member’s
business infringes or violates the rights of any Person, nor does UK Holdco or any other Loan Party know of any valid basis for
any such claim except for such claims that would not reasonably be expected to impair or interfere in any material respect with
the operations of the business conducted by UK Holdco and the Restricted Subsidiaries, taken as a whole, or result in a Material
Adverse Effect.


 


4.9           Taxes.
Except as set forth on Schedule 4.9 or as would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, (i) each Group Member has filed or caused to be filed all Tax returns that are required to be filed
and has paid all Taxes shown to be due and payable on said returns or on any assessments made against it or any of its property
by any Governmental Authority (other than any amount or validity of which are currently being contested in good faith by appropriate
proceedings and with respect to which reserves in conformity with GAAP (or, in the case of any Foreign Subsidiary, the accounting
principles applicable in the relevant jurisdiction) have been provided on the books of the relevant Group Member); and (ii) no
tax Lien (other than any Liens for Taxes not yet due and payable) has been filed, and, to the knowledge of any of the Group Members,
no claim is being asserted, with respect to any such Tax, fee or other charge.


 


4.10         Federal
Regulations. No Group Member is engaged principally, or as one of its important activities, in the business of extending credit
for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of
any Loans, and no other extensions of credit hereunder, will be used for the purpose of buying or carrying Margin Stock in a manner
or for any purpose that violates the provisions of Regulation U and Regulation X.


 


4.11         Employee
Benefit Plans. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect,
(i) neither a Reportable Event nor a failure to meet the minimum funding standards of Section 412 or 430 of the Code
or Section 302 or 303 of ERISA has occurred during the five-year period prior to the date on which this representation is
made or deemed made with respect to any Plan, (ii) each Plan has been operated and maintained in compliance in all respects
with applicable Law, including the applicable provisions of ERISA and the Code, and the governing documents for such Plan, (iii) no
termination of a Single Employer Plan has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year
period, (iv) the present value of all accrued benefits under each Single Employer Plan (based on those assumptions used to
fund such Plan) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed
made, exceed the value of the assets of such Plan allocable to such accrued benefits by a material amount, (v) neither UK
Holdco nor any Commonly Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan that has resulted
or could reasonably be expected to result in a material liability under ERISA, (vi) no such Multiemployer Plan is Insolvent,
(vii) each Foreign Plan has been operated and maintained in compliance in all respects with applicable law and the governing
documents for such plan and (viii) no Foreign Benefit Plan Event has occurred during the five-year period prior to the date
on which this representation is made or deemed made with respect to any Foreign Plan.


 






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4.12         Investment
Company Act. No Loan Party is registered or required to be registered as an “investment company”, under the Investment
Company Act of 1940, as amended.


 


4.13         Environmental
Matters. Except as, in the aggregate, would not reasonably be expected to have a Material Adverse Effect:


 


(a)            the
facilities and real properties currently owned, leased or operated by any Group Member (the “Properties”) do
not contain, and (to the knowledge of the Group Members) have not previously contained, any Materials of Environmental Concern
in amounts or concentrations or under circumstances that constitute or (to the knowledge of the Group Members) constituted a violation
of any Environmental Law;


 


(b)            no
Group Member has received any written notice of violation, alleged violation, non-compliance, liability or potential liability
regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the business operated
by any Group Member (the “Business”), nor does any Group Member have knowledge that any such notice is being
threatened;


 


(c)            Materials
of Environmental Concern have not been released, generated, treated, stored or disposed of at, or transported from, the Properties
in violation of, or in a manner that is reasonably expected to give rise to liability under, any Environmental Law;


 


(d)            no
judicial proceeding or governmental or administrative action is pending or, to the knowledge of any Group Member, threatened, under
any Environmental Law to which any Group Member is or, to the knowledge of the Group Member, will be named as a party with respect
to the Properties or the Business, nor are there any consent decrees or other decrees, consent orders, administrative orders or
other orders, or other judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business;


 


(e)            the
Properties and all operations at the Properties are in compliance, and (to the knowledge of the Group Members) have in the past
five years been in compliance, with all applicable Environmental Laws;


 


(f)            to
the knowledge of the Group Members, there are no past or present conditions, events, circumstances, facts, or activities that would
reasonably be expected to give rise to any liability or other obligation for any Group Member under any Environmental Laws; and


 


(g)            no
Group Member has assumed any liability of any other Person under Environmental Laws.


 


4.14        Accuracy
of Information, etc.  No statement or information concerning any Group Member or the Business contained in this
Agreement, any other Loan Document, or any other document, certificate or written statement furnished by or on behalf of any
Loan Party to the Administrative Agent or the Lenders, or any of them (except for projections, pro forma financial
information and information of a general economic or industry nature), for use in connection with the transactions
contemplated by this Agreement or the other Loan Documents, when taken as a whole and when taken together with any public
filings made by UK Holdco or a parent entity thereof, contained, as of the date such statement, information, document or
certificate was so furnished and after giving effect to all supplements and updates thereto, any untrue statement of a
material fact or omitted to state a material fact necessary to make the statements contained herein or therein not materially
misleading in light of the circumstances under which such statements were made. The projections and pro rata
financial information, taken as a whole, contained in the materials referenced above are based upon good faith estimates and
assumptions believed by management of the Borrower Representative to be reasonable at the time made and as of the Closing
Date (with respect to such projections and pro rata financial information delivered prior to the Closing Date), it
being recognized by the Lenders that such financial information as it relates to future events is not to be viewed as fact,
forecasts and projections are subject to uncertainties and contingencies, actual results during the period or periods covered
by such financial information may differ from the projected results set forth therein by a material amount and no assurance
can be given that any forecast or projections will be realized.


 






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4.15         Security
Documents.


 


(a)            Each
of the Security Documents is effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties,
a legal, valid and, subject to any Legal Reservations, enforceable security interest in the Collateral described therein and proceeds
thereof, subject to the relevant Perfection Requirements under applicable laws and as set forth in this Agreement and/or the other
relevant Loan Documents (including the Collateral and Guarantee Principles, the Agreed Security Principles and the Intercreditor
Agreement).


 


(b)            Subject
to the Collateral and Guarantee Principles, the Agreed Security Principles and the Perfection Requirements and only to the extent
such Liens are intended to be created by the relevant Security Documents and required to be perfected under the Loan Documents,
the Liens created by the Security Documents constitute fully perfected (or the equivalent under applicable law) first priority
Liens (subject to Permitted Liens) so far as possible under relevant law on, and security interests in all right, title and interest
of the grantors in such Collateral in each case free and clear of any Liens other than Liens permitted hereunder.


 


4.16         Solvency.
As of the Closing Date (and after giving effect to the consummation of the Transactions to occur on the Closing Date), Holdings
and its Subsidiaries, on a consolidated basis, after giving effect to the Transactions and the incurrence of all Indebtedness
and obligations being incurred in connection herewith and therewith and the other transactions contemplated hereby and thereby,
are Solvent.


 


4.17         Patriot
Act; FCPA; OFAC; Sanctions.


 


(a)            To
the extent applicable, the Loan Parties and each of their Subsidiaries are in compliance in all material respects with U.S. and
non-U.S. Laws relating to anti-money laundering including, without limitation, the Patriot Act.


 


(b)            The
Loan Parties and each of their Subsidiaries are in compliance in all material respects with all applicable Anti-Corruption Laws.


 


(c)            None
of the Loan Parties, nor any of their Subsidiaries or respective officers or directors, nor, to the knowledge of the Loan Parties,
any employee or agent of the Loan Parties or any of their Subsidiaries is a Sanctioned Person. No Group Member is located, organized
or resident in a country or territory that is the subject of comprehensive territorial Sanctions Laws (a “Sanctioned Country”)
as of the Closing Date.


 


(d)            The
Loan Parties will not, directly or indirectly, use the proceeds of any Loans, or lend, contribute or otherwise make available such
proceeds to any Subsidiary (or any joint ventures of the Loan Parties or any of their Subsidiaries), joint venture partner or other
Person, to fund any activities of or business with any Sanctioned Person, or in any country or territory, that, at the time of
such funding, is a Sanctioned Person or a Sanctioned Country, or in any other manner that will result in a violation by any Person
(including any Person participating in any Loan transaction, whether as a Lender, advisor, or otherwise) of Sanctions Laws or applicable
Anti-Corruption Laws; provided that the obligations in this clause (d) shall in no event be interpreted or applied in such
a manner that the obligations hereunder would result in any Loan Party, any of its Subsidiaries or any Secured Party (or any director,
officer or employee thereof) violating under any anti-boycott or blocking law, regulation or statute that is in force from time
to time and applicable to such entity or person (including, without limitation, Council Regulation (EC) 2271/96).


 






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(e)            The
representations and warranties contained in this Section 4.17 (A) made by any Restricted Subsidiary resident in Germany
(Inländer) within the meaning of section 2 paragraph 15 of the German Foreign Trade Act (Außenwirtschaftsgesetz),
are only made to the extent such relevant representation and/or warranty does not result in a violation of or conflict with section
7 of the German Foreign Trade Ordinance (Außenwirtschaftsverordnung) or any similar anti-boycott statute, and (B) given
by any Loan Party to any Lender resident in Germany (Inländer) within the meaning of section 2 para. 15 of the German
Foreign Trade Act (Außenwirtschaftsgesetz) are made only to the extent that any Lender resident in Germany (Inländer)
within the meaning of section 2 para. 15 of the German Foreign Trade Act (Außenwirtschaftsgesetz) would be permitted
to make such representation and warranties pursuant to section 7 of the German Foreign Trade Ordinance (Außenwirtschaftsverordnung).


 


4.18         Beneficial
Ownership Certificate. As of the Closing Date, the information included in the Beneficial Ownership Certification, if applicable,
is true and correct in all material respects.


 


4.19         Use
of Proceeds. The Borrowers will (a) use the proceeds of the Initial Term Loans and the Revolving Loans incurred on the
Closing Date to finance a portion of the Transactions (including paying any fees, commissions and expenses associated therewith)
and (b) will use the proceeds of all other Borrowings to finance the working capital needs of UK Holdco and the Restricted
Subsidiaries and for general corporate purposes of UK Holdco and the Restricted Subsidiaries (including without limitation capital
expenditures, acquisitions, Investments and Restricted Payments permitted hereunder).


 


4.20         Governing
Law and Enforcement. Subject to the Legal Reservations and Perfection Requirements, (i) the choice of governing law of
the Loan Documents to which each Loan Party is a party will be recognized and enforced in its Relevant Jurisdiction and (ii) any
judgment obtained in relation to a Loan Document to which each Loan Party is a party in the jurisdiction of the governing law
of that Loan Document will be recognized and enforced in its Relevant Jurisdiction.


 


4.21         Centre
of Main Interests. On the Closing Date, for the purposes of Regulation (EU) No. 2015/848 of the European Parliament and
of the Council of 20 May 2015 on insolvency proceedings (recast) (the “Regulation”), the centre of main
interest (as that term is used in Article 3(1) of the Regulation) of each Loan Party that is incorporated in a member
state of the European Union or England & Wales is situated in its jurisdiction of incorporation and it has no “establishment”
(as that term is used in Article 2(h) of that Regulation) in any other jurisdiction.


 


Notwithstanding anything herein or in any
other Loan Document to the contrary, no officer of Holdings or any Group Member shall have any personal liability in connection
with the representations and warranties and other certifications in this Agreement or any other Loan Document.


 


SECTION 5.

CONDITIONS PRECEDENT


 


5.1           Conditions
to Closing Date. The agreement of each Lender to make the initial extension of credit requested to be made by it under this
Agreement on the Closing Date is subject to the satisfaction, prior to or substantially concurrently with the making of such extension
of credit on the Closing Date, of the following conditions precedent:


 






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(a)            Loan
Documents. The Administrative Agent shall have received:


 


(i)            this
Agreement, executed and delivered by Holdings, the Borrowers, each Guarantor and each Person listed on Schedule 1.1A-1;


 


(ii)           the
US Security Agreement, executed and delivered by the Loan Parties party thereto;


 


(iii)          the
Intellectual Property Security Agreements, executed and delivered by the Loan Parties party thereto;


 


(iv)          each
other Security Document as required pursuant to Schedule 1.1C, executed and delivered by the Loan Parties party thereto;


 


(v)           each
Note, executed and delivered by the Borrowers in favor of each Lender requesting the same;


 


(vi)          the
Loan Note Instrument (Notes), executed and delivered by UK Holdco;


 


(vii)         the
Loan Note Instrument (Term Loans), executed and delivered by UK Holdco; and


 


(viii)        a
Borrowing Request, executed and delivered by the Borrower Representative.


 


(b)            [Reserved].


 


(c)            Closing
Date Refinancing. Substantially contemporaneously with the funding of the Facilities, (i) the principal, accrued and unpaid
interest, fees, premium, if any, and other amounts (other than (x) obligations not then due and payable or that by their terms
survive the termination thereof and (y) certain existing letters of credit, bank guarantees, bankers’ acceptances and
similar documents and instruments outstanding under the Existing Credit Agreement that on the Closing Date will be grandfathered
into, or backstopped by, the Revolving Facility or cash collateralized in a manner satisfactory to the issuing banks thereof) under
the Existing Credit Agreement will be repaid in full and all commitments to extend credit thereunder will be terminated and any
security interests and guarantees in connection therewith shall be terminated and/or released (or arrangements for such repayment,
termination and release shall have been made) and (ii) the Existing Senior Notes issued under the Existing Senior Notes Indenture
will be redeemed (with a notice of redemption, which may be conditional upon closing of the Transactions, being delivered (and
deposit of cash in an amount sufficient to redeem the Existing Senior Notes in full being made) on or prior to the Closing Date)
and be irrevocably defeased or satisfied and discharged on or prior to the Closing Date in accordance with the terms of the Existing
Senior Notes Indenture (together, the “Closing Date Refinancing”).


 


(d)            [Reserved].


 






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(e)            Fees.
The Lenders and the Administrative Agent shall have received all fees required to be paid on or prior to the Closing Date, and
all reasonable out-of-pocket expenses required to be paid on the Closing Date for which reasonably detailed invoices have been
presented (including the reasonable, fees and expenses of legal counsel to the Administrative Agent) to the Borrower Representative
at least three Business Days prior to the Closing Date (or such later date as the Borrower Representative may reasonably agree),
which amounts may be offset against the proceeds of the Facilities.


 


(f)            Closing
Certificate; Certified Certificate of Incorporation; Good Standing Certificates. The Administrative Agent shall have received
(i) an Officer’s Certificate of or on behalf of each Loan Party, dated the Closing Date, in form and substance reasonably
acceptable to the Administrative Agent, with appropriate insertions and attachments, including copies of resolutions of the Board
of Directors and/or similar governing bodies of each Loan Party approving and authorizing the execution, delivery and performance
of the Loan Documents to which it is a party and, in the case of the Borrowers, the borrowings hereunder, certified organizational
authorizations (if required by applicable law or customary for market practice in the relevant jurisdiction), incumbency certifications,
the certificate of incorporation or other similar Organizational Documents of each Loan Party certified by the relevant authority
of the jurisdiction of organization, registration or incorporation of such Loan Party (only where customary in the applicable jurisdiction)
and bylaws or other similar Organizational Documents of each Loan Party certified by a Responsible Officer as being in full force
and effect on the Closing Date, (ii) a good standing certificate (to the extent such concept exists in the relevant jurisdictions)
for each Loan Party from its jurisdiction of organization, registration or incorporation and (iii) in relation to the Lux
Borrower, (A) an up-to-date electronic certified true and complete excerpt of the Companies Register dated no earlier than
one Business Day prior to the Closing Date, (B) a solvency certificate dated as of the Closing Date (signed by a director
or authorized signatory) that it is not subject to nor, as applicable, does it meet or threaten to meet the criteria of bankruptcy
(faillite), insolvency, voluntary or judicial liquidation (liquidation volontaire ou judiciaire), composition with
creditors (concordat préventif de faillite), controlled management (gestion contrôlée), reprieve
from payment (sursis de paiement), general settlement with creditors, reorganization or similar laws affecting the rights
of creditors generally and no application has been made or is to be made by its director or, as far as it is aware, by any other
Person for the appointment of a commissaire, juge-commissaire, liquidateur, curateur or similar officer
pursuant to any voluntary or judicial insolvency, winding-up, liquidation or similar proceedings, (C) an up-to-date electronic
certified true and complete certificate of non-registration of judgments (certificat de non-inscription d’une décision
judiciaire), issued by the Companies Register no earlier than one Business Day prior to the Closing Date and reflecting the
situation no more than two Business Days prior to the Closing Date certifying that, as of the date of the day immediately preceding
such certificate, the Lux Borrower has not been declared bankrupt (en faillite), and that it has not applied for general
settlement or composition with creditors (concordat préventif de la faillite), controlled management (gestion
contrôlée), or reprieve from payment (sursis de paiement), judicial liquidation (liquidation judiciaire)
or the appointment of a temporary administrator (administrateur provisoire), such other proceedings listed at Article 13,
items 2 to 12 and Article 14 of the Luxembourg Act dated December 19, 2002 on the Register of Commerce and Companies,
on Accounting and on Annual Accounts of the Companies (as amended from time to time) (and which include foreign court decisions
as to faillite, concordat or analogous procedures according to Regulation (EU) 2015/848 of the European Parliament
and of the Council of 20 May 2015 on insolvency proceedings (recast) and (D) an electronic certified copy of the resolution
of its directors (or similar body) approving the Loan Documents to which it is party and approving the execution, delivery and
performance of, and authorizing named persons to sign the Loan Documents to which it is party and any documents to be delivered
by it under any of the same.


 


(g)            Legal
Opinions. The Administrative Agent shall have received the executed legal opinion of Davis Polk & Wardwell LLP, special
New York counsel to the Loan Parties, and executed legal opinions of each local counsel to the Loan Parties or the Administrative
Agent, as applicable, set forth on Schedule 5.1(g), each of which shall be in form and substance reasonably satisfactory
to the Administrative Agent (provided that counsel to the Administrative Agent shall provide such opinions to the extent customary
in any applicable jurisdiction).


 






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(h)            Pledged
Stock; Stock Powers; Pledged Notes. Subject to the last paragraph of this Section 5.1, the Administrative Agent
shall have received (i) the certificates representing the shares of Capital Stock (to the extent certificated) pledged or
otherwise required to be delivered pursuant to the Security Documents to be entered into on the Closing Date (to the extent required
to be delivered pursuant to such Security Documents and the Agreed Security Principles), together with (where applicable in the
relevant jurisdiction) an undated stock power or other equity transfer form for each such certificate executed or endorsed in blank
by a duly authorized signatory of the pledgor thereof and (ii) certificates evidencing the Loan Note Instruments.


 


(i)            Filings,
Registrations and Recordings. Subject to the last paragraph of this Section 5.1, each document (including any Uniform
Commercial Code financing statement) required by the Security Documents or under law or reasonably requested by the Administrative
Agent to be filed, registered or recorded in order to create in favor of the Administrative Agent, for the benefit of the Secured
Parties, a perfected Lien on the Collateral described therein, prior and superior in right to any other Person (other than Permitted
Liens), shall have been executed and delivered to the Administrative Agent in proper form for filing, registration or recordation
(other than, with respect to any security interest granted by a Loan Party incorporated in England and Wales, registrations with
the Companies House in England and Wales, which shall be effected within 21 days of creating a security interest granted by a Loan
Party incorporated in England and Wales).


 


(j)            Solvency
Certificate. The Administrative Agent shall have received a Solvency Certificate, which shall certify that Holdings and its
Subsidiaries on a consolidated basis are, and will after giving effect to the Transactions and the other transactions contemplated
hereby be, Solvent.


 


(k)            Patriot
Act; Beneficial Ownership Regulation. The Administrative Agent and the Lenders (to the extent reasonably requested in writing
at least 10 Business Days prior to the Closing Date) shall have received, at least three Business Days prior to the Closing Date,
all documentation and other information about Holdings, UK Holdco and the Borrowers that the Administrative Agent reasonably determines
to be required by Governmental Authorities under applicable “know your customer” and anti-money-laundering rules and
regulations, including without limitation the Patriot Act and Beneficial Ownership Regulation.


 


(l)             Representations
and Warranties. Each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall
be true and correct in all material respects (except where such representations and warranties are already qualified by materiality,
in which case such representation and warranty shall be accurate in all respects) on and as of the Closing Date.


 


Notwithstanding the
foregoing, to the extent any Collateral or any security interest therein (other than Collateral with respect to which a lien or
security interest may be perfected by (w) intellectual property security filings with the United States Patent and Trademark
Office or the United States Copyright Office, (x) the filing of a financing statement under the Uniform Commercial Code, (y) the
delivery of any promissory note or certificate evidencing the Loan Note Instruments, together with undated note powers, and (z) the
delivery of any stock certificates, if any, together with undated stock powers executed in blank, by (I) Holdings, with respect
to the Borrowers only and (II) with respect to all material wholly-owned restricted subsidiaries formed in the United States,
in each case to the extent required by the Security Documents) is not provided or perfected on the Closing Date after the Borrowers’
use of commercially reasonable efforts to do so or cannot be provided or perfected without undue burden or expense, the provision
and/or perfection of such security interests in such Collateral shall not constitute a condition precedent to the availability
of any Facility on the Closing Date, but shall be required to be provided and/or perfected within 120 days after the Closing Date
(or such later date as the Administrative Agent may agree in its reasonable discretion).


 






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5.2           Conditions
to Each Borrowing Date. Subject to the final paragraph of this Section 5.2, the agreement of each Lender to make
any extension of credit requested to be made by it on any date is subject to the satisfaction of the following conditions precedent:


 


(a)            Representations
and Warranties. Each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall
be true and correct in all material respects (except where such representations and warranties are already qualified by materiality,
in which case such representation and warranty shall be accurate in all respects) on and as of such date as if made on and as
of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all material respects (except where such representations and
warranties are already qualified by materiality, in which case such representation and warranty shall be accurate in all respects)
as of such earlier date.


 


(b)            No
Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the extensions
of credit requested to be made on such date.


 


(c)            Notice.
The Administrative Agent and, if applicable, the Issuing Lenders or the Swingline Lender, shall have received notice from the Borrower
Representative, which, if in writing, may be in the form of a Borrowing Request.


 


Each borrowing by, and each issuance, renewal,
extension, increase or amendment of a Letter of Credit on behalf of, the Revolving Borrowers hereunder shall constitute a representation
and warranty by the Revolving Borrowers as of the date of such extension of credit that the conditions contained in this Section 5.2
have been satisfied.


 


Notwithstanding the foregoing, (x) the
conditions set forth in clauses (a) and (b) of this Section 5.2 shall be qualified during the Clean-Up Period
by the provisions of Section 9.6, (y) this Section 5.2 shall be subject to Section 1.4
in all respects and (z) the conditions in this Section 5.2 shall not apply in respect of any Incremental Facility, Refinancing
Amendment or Permitted Amendment (which shall instead by governed by the relevant conditions applicable to each of the foregoing
in accordance with this Agreement).


 


SECTION 6.

AFFIRMATIVE COVENANTS


 


Each Borrower and (solely
with respect to Sections 6.1, 6.2, 6.3, 6.4, 6.6, 6.9, 6.11, 6.14, 6.16
and 6.19) Holdings hereby jointly and severally agree that, until the Termination Date, each Borrower and (solely with respect
to Sections 6.1, 6.2, 6.3, 6.4, 6.6, 6.9, 6.11, 6.14, 6.16 and 6.19)
Holdings will, and will cause each of its Restricted Subsidiaries to:


 


6.1           Financial
Statements. Furnish to the Administrative Agent (who shall promptly furnish to each Lender):


 






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(a)            as
soon as available, but in any event within 90 days after the last day of each fiscal year of UK Holdco, a copy of the audited
consolidated balance sheet of UK Holdco and its consolidated Subsidiaries as at the end of such year and the related audited consolidated
statements of income and of cash flows for such year, setting forth in each case in comparative form the figures for the previous
year and accompanied by an opinion of PricewaterhouseCoopers LLP or other independent certified public accountants of recognized
national standing, which opinion shall not be subject to qualification as to scope or contain any “going concern” qualification
or exception other than with respect to or resulting from (i) the maturity of any Loans under this Agreement, the Senior Secured
Notes or any other Indebtedness or (ii) any potential inability to satisfy any financial covenant on a future date or for
a future period (provided that delivery within the time periods specified above of copies of the Annual Report on Form 10-K
or Form 20-F of UK Holdco (or any direct or indirect parent company thereof) filed with the SEC (or the equivalent documents
filed with a comparable agency in any applicable non-U.S. jurisdiction, provided such documents contain substantially the
same scope of information as would be set forth in a Form 10-K or Form 20-F) shall be deemed to satisfy the requirements
of this Section 6.1(a)); and


 


(b)            as
soon as available, but in any event within 45 days after the last day of the first three fiscal quarters of each fiscal year
of UK Holdco, the unaudited consolidated balance sheet of UK Holdco and its consolidated Subsidiaries as at the end of such quarter
and the related unaudited consolidated statements of income and of cash flows for such quarter and the portion of the fiscal year
through the end of such quarter, setting forth in each case in comparative form the figures for the previous year, certified by
a Responsible Officer as fairly stating in all material respects the financial position of UK Holdco and its consolidated Subsidiaries
in accordance with GAAP for the period covered thereby (subject to normal year-end audit adjustments and the absence of footnotes)
(provided that delivery within the time periods specified above of copies of the Quarterly Report on Form 10-Q or a
Report of Foreign Private Issuer on Form 6-K (that includes substantially the same information as was included in Clarivate
Holdings Limited’s Form 6-K dated May 15, 2019) of UK Holdco (or any direct or indirect parent company thereof)
filed with the SEC (or the equivalent documents filed with a comparable agency in any applicable non-U.S. jurisdiction, provided
such documents contain substantially the same scope of information as would be set forth in Form 10-Q or the aforementioned
6-K) shall be deemed to satisfy the requirements of this Section 6.1(b)).


 


All such consolidated
financial statements shall be prepared (except as otherwise provided below) in all material respects in accordance with GAAP applied
consistently (except to the extent any such inconsistent application of GAAP has been approved by such accountants (in the case
of clause (a) above) or officer (in the case of clause (b) above), as the case may be, and disclosed in reasonable detail
therein) consistently throughout the periods reflected therein and with prior periods (subject, in the case of quarterly financial
statements, to normal year-end audit adjustments and the absence of footnotes), and all such financial statements shall include
a presentation of Consolidated EBITDA.


 


Notwithstanding the foregoing, the obligations
in Section 6.1(a) and Section 6.1(b) may be satisfied by furnishing, at the option of the Borrower
Representative, the applicable financial statements or, as applicable, forecasts of (I) any predecessor or successor of UK
Holdco or any entity meeting the requirements of clause (II) or (III) of this paragraph, (II) any other wholly-owned
Restricted Subsidiary that, together with its consolidated Restricted Subsidiaries, constitutes substantially all of the assets
of UK Holdco and its consolidated Subsidiaries (a “Qualified Reporting Subsidiary”) or (III) any Parent
Holding Company, provided that to the extent such information relates to a Qualified Reporting Subsidiary or a Parent Holding
Company, (x) such information is accompanied by consolidating information (which need not be audited) that explains in reasonable
detail the differences between the information relating to such Qualified Reporting Subsidiary or such Parent Holding Company,
on the one hand, and the information relating to UK Holdco and its Restricted Subsidiaries on a standalone basis, on the other
hand and (y) solely in the case of a Qualified Reporting Subsidiary, neither such Parent Holding Company nor any Subsidiary
of such Parent Holding Company (other than Holdings or such Qualified Reporting Subsidiary and its Subsidiaries) shall have any
material assets or liabilities.


 






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Notwithstanding the foregoing, in the event
that UK Holdco or any Parent Holding Company of UK Holdco is or becomes a public reporting company and files a Form 10-K or
Form 20-F (or other equivalent document), or Form 10-Q or Form 6-K (or other equivalent document), as contemplated
pursuant to clauses (a) and (b) above, respectively, then UK Holdco shall satisfy the delivery requirements under this
Section 6.1 upon the filing of such reports with the SEC or other securities commission or stock exchange; provided
that if a Parent Holding Company of UK Holdco files such reports with the SEC or other securities commission or stock exchange,
such Parent Holding Company of UK Holdco provides the consolidating information set forth in this paragraph.


 


For the avoidance of doubt, any financial
statements or other reports delivered pursuant to this Section 6.1 (A) shall not be required to comply with Section 302,
Section 404 or Section 906 of the Sarbanes-Oxley Act of 2002, or related Items 307 or 308 of Regulation S-K promulgated
by the SEC, or Item 10(e) of Regulation S-K (with respect to any non-GAAP financial measures contained therein), (B) shall
not be required to contain the separate financial information for any Loan Parties contemplated by Rule 3-05, Rule 3-09,
Rule 3-10 or Rule 3-16 of Regulation S-X promulgated by the SEC (other than the consolidating information contemplated
by the immediately preceding paragraph), (C) shall not be required to comply with Items 402, 405, 406, 407 and 601 of Regulation
S-K promulgated by the SEC, (D) shall not be required to contain any exhibit (including any financial statements that would
be required to be filed as an exhibit) and (E) shall not be required to comply with rules or regulations promulgated
by the SEC concerning Extensible Business Reporting Language (XBRL).


 


6.2           Certificates;
Other Information. Furnish to the Administrative Agent (who shall promptly furnish to each Lender) or, in the case of clause
(g), to the relevant Lender:


 


(a)            promptly
upon the request of the Administrative Agent, in connection with the delivery of any financial statements or other information
pursuant to Section 6.1 or this Section 6.2, confirmation of whether such statements or information contains
any Private Lender Information. The Borrowers and each Lender acknowledge that certain of the Lenders may be “public-side”
Lenders (Lenders that do not wish to receive material non-public information with respect to the Borrowers, Holdings, their respective
Subsidiaries or their securities) (the “Public Lenders”) and, if documents or notices required to be delivered
pursuant to Section 6.1 or this Section 6.2 or otherwise are being distributed through IntraLinks/IntraAgency,
SyndTrak or another relevant website or other information platform (the “Platform”), any document or notice
that Borrower Representative has indicated contains Private Lender Information shall not be posted on that portion of the Platform
designated for such public-side Lenders, provided that if Borrower Representative has not indicated whether a document or
notice delivered pursuant to Section 6.1 or this Section 6.2 contains Private Lender Information, the Administrative
Agent reserves the right to post such document or notice solely on that portion of the Platform designated for Lenders who wish
to receive material nonpublic information with respect to the Borrowers, Holdings, their respective Subsidiaries or their respective
securities;


 


(b)            [reserved];


 






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(c)            concurrently
with the delivery of any financial statements pursuant to Section 6.1, (i) an Officer’s Certificate of Borrower
Representative stating that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified
in such certificate, (ii) (x) a Compliance Certificate containing all information and calculations reasonably necessary
for determining the Applicable Margin and, to the extent that a Financial Compliance Date occurred on the last day of the period
covered by such financial statements, compliance by UK Holdco with the provisions of Section 7.1 of this Agreement
as of the last day of the fiscal quarter or fiscal year of UK Holdco, as the case may be (and, with respect to each annual financial
statement commencing with the annual financial statements for the fiscal year of UK Holdco ending December 31, 2020, the amount,
if any, of Excess Cash Flow for such fiscal year together with the calculation thereof in reasonable detail), and (y) to the
extent not previously disclosed to the Administrative Agent, a description of any change in the jurisdiction of organization of
any Loan Party, and (iii) certifying a list of names of all Unrestricted Subsidiaries (if any) (or certifying as to any changes
to such list since the delivery of the last such certificate) and that each Subsidiary set forth on such list individually qualifies
as an Unrestricted Subsidiary;


 


(d)            [reserved];


 


(e)            simultaneously
with the delivery of each set of consolidated financial statements referred to in Sections 6.1(a) and (b) above,
a narrative discussion and analysis of the financial condition and results of operations of UK Holdco and its Restricted Subsidiaries
for such fiscal quarter or fiscal year, as applicable, and for the period from the beginning of the then current fiscal year to
the end of such fiscal quarter (or for the entire such fiscal year most recently ended in the case of such discussion and analysis
given after the end of such fiscal year), as compared to the comparable periods of the previous year (provided that delivery
within the time periods specified above of copies of the Quarterly Report on Form 10-Q or Foreign Private Issuer Report on
Form 6-K and Annual Report on Form 10-K or 20-F, as applicable, of UK Holdco (or any direct or indirect parent company
thereof) filed with the SEC (or the equivalent documents filed with a comparable agency in any applicable non-U.S. jurisdiction,
provided such documents contain substantially the same scope of information as would be set forth in equivalent U.S. documents)
shall be deemed to satisfy the requirements of this Section 6.2(e));


 


(f)            promptly,
copies of all financial statements and reports that UK Holdco and its Restricted Subsidiaries send generally to the holders of
any class of their debt securities or public equity securities, acting in such capacity, and, within five days after the same are
filed, copies of all financial statements and reports that UK Holdco or any Qualified Reporting Subsidiary filed with the SEC (or
the equivalent documents filed with a comparable agency in any applicable non-U.S. jurisdiction, provided such documents
contain substantially the same information as would be set forth in equivalent U.S. documents); provided that the obligations
in this clause (f) shall be deemed to be satisfied if such financial statements and reports are publicly available;


 


(g)            promptly
following any Lender’s request therefor, all documentation and other information that such Lender reasonably requests in
order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering or terrorist
financing rules and regulations, including the Patriot Act and Beneficial Ownership Regulation;


 


(h)            to
the extent equivalent conference calls are required pursuant to the terms of the Senior Secured Notes, quarterly, at a time mutually
agreed with the Administrative Agent that is promptly after the delivery of the information required pursuant to clause (a) and
(b) above, but in no event earlier than is required with respect to the Senior Secured Notes, participate in a conference
call for Lenders to discuss the financial condition and results of operations of UK Holdco and its Subsidiaries for the most recently-ended
period for which financial statements have been or were required to have been delivered; and


 






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(i)             as promptly as reasonably practicable from time to time following the
Administrative Agent’s request therefor, such other information regarding the operations, business affairs and
financial condition of any Group Member, or compliance with the terms of any Loan Document, as the Administrative Agent may
reasonably request.


 


Nothing in this Agreement
or in any other Loan Document shall require any Loan Party to provide information (i) that constitutes non-financial trade
secrets or non-financial proprietary information, (ii) in respect of which disclosure is prohibited by applicable Laws, (iii) that
is subject to attorney-client or similar privilege or constitutes attorney work product or (iv) in respect of which Holdings,
a Borrower or any Restricted Subsidiary owes confidentiality obligations to any third party (provided such confidentiality obligations
were not entered into in contemplation of the requirements of this Agreement).


 


6.3           Payment
of Taxes. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be,
all its Tax obligations of whatever nature, except (i) where the failure to do so would not reasonably be expected to have
a Material Adverse Effect or (ii) where the amount or validity thereof is currently being contested in good faith by appropriate
proceedings and reserves in conformity with GAAP (or, in the case of any Foreign Subsidiary, the accounting principles applicable
in the relevant jurisdiction) with respect thereto have been provided on the books of UK Holdco or the relevant Group Member.


 


6.4           Maintenance
of Existence; Compliance with Law.


 


(a)            (i) Preserve,
renew and keep in full force and effect its organizational existence and (ii) take all reasonable action to maintain or obtain
all Governmental Approvals and all other all rights, privileges and franchises, in each case necessary or desirable in the normal
conduct of its business, except, in each case, as otherwise permitted by Section 7.5 or 7.8 or by the Security
Documents and except, other than in the case of clause (i) with respect to Holdings, UK Holdco and the Lux Borrower, to the
extent that failure to do so would not reasonably be expected to have a Material Adverse Effect;


 


(b)            comply
with all Requirements of Law except to the extent that failure to comply therewith would not, in the aggregate, reasonably be expected
to have a Material Adverse Effect; provided that the requirements set forth in this Section 6.4, as they pertain to
compliance by any Foreign Subsidiary with Sanctions are subject to and limited by any Requirement of Law applicable to such Foreign
Subsidiary in its relevant local jurisdiction; and


 


(c)            comply
with all Governmental Approvals except to the extent that failure to do so would not reasonably be expected to have a Material
Adverse Effect.


 


6.5           Maintenance
of Property; Insurance. (a) Keep all material tangible property useful and reasonably necessary in its business in good
working order and condition, ordinary wear and tear and casualty and condemnation excepted, except to the extent the failure
to do so would not reasonably be expected to have a Material Adverse Effect, (b) maintain all the rights, licenses, permits,
privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its business, except to
the extent the failure to do so would not reasonably be expected to have a Material Adverse Effect or as otherwise permitted
by the Loan Documents and (c) maintain with insurance companies that the Borrower Representative believes (in the good faith
judgment of the management of the Borrower Representative) are financially sound and responsible at the time the relevant
coverage is placed or renewed insurance in at least such amounts (after giving effect to any self-insurance which the
Borrower Representative believes (in the good faith judgment of management of the Borrower Representative) is reasonable and
prudent in light of the size and nature of its business) and against at least such risks (and with such risk retentions) as
the Borrower Representative believes (in the good faith judgment of management of the Borrower Representative) is reasonable
and prudent in light of the size and nature of its business (it being agreed that in any event flood insurance shall not be
required except to the extent required by applicable Law).


 






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6.6           Inspection
of Property; Books and Records; Discussions. (a) Keep proper books of records and account containing entries of all material
financial transactions and matters involving the assets and business of UK Holdco and its Restricted Subsidiaries that are full,
true and correct in all material respects and permit the preparation of consolidated financial statements in accordance with GAAP
and (b) permit, at the Borrowers’ expense, representatives of the Administrative Agent to visit and inspect any of
its properties and examine and make abstracts from any of its books and records at any reasonable time during normal business
hours, upon reasonable prior written notice, and as often as may reasonably be desired and to discuss the business, operations,
properties and financial and other condition of the Group Members with officers and employees of the Group Members and with their
independent certified public accountants; provided that (i) in no event shall there be more than one such visit for
the Administrative Agent and its representatives as a group per calendar year except during the continuance of an Event of Default
and (ii) the Borrowers shall have the right to be present during any discussions with accountants. Notwithstanding anything
to the contrary in this Section 6.6 or Section 6.2(i), none of the Group Members will be required to disclose,
permit the inspection, examination or making copies or abstracts of, or discuss any document, information or other matter that
(a) constitutes non-financial trade secrets or non-financial proprietary information, (b) 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 (other than any agreement with another Group Member or any Affiliate thereof), (c) is subject to attorney-client
or similar privilege or constitutes attorney work product, (d) in respect of which Holdings, a Borrower or any Restricted
Subsidiary owes confidentiality obligations to any third party (provided such confidentiality obligations were not entered into
in contemplation of the requirements of this Agreement).


 


6.7           Notices.
Promptly give notice to the Administrative Agent (who shall promptly furnish to each Lender) of:


 


(a)            the
occurrence of any Default or Event of Default;


 


(b)            the
following events where there is any reasonable likelihood of the imposition of liability on any Borrower as a result thereof that
would be reasonably expected to have a Material Adverse Effect, promptly and in any event within 30 days after the Borrower Representative
knows or has reason to know thereof:  the occurrence of any Reportable Event with respect to any Plan, a failure to make any
required contribution to a Plan in a material amount, the creation of any Lien on the assets of any Loan Party in favor of the
PBGC or a Plan or any withdrawal from, or the termination or Insolvency of, any Multiemployer Plan that would result in the imposition
of a material withdrawal liability; and


 


(c)            any
development or event that has had or would reasonably be expected to have a Material Adverse Effect.


 


Each notice pursuant
to this Section 6.7 shall be accompanied by a statement of a Responsible Officer of the Borrower Representative setting
forth details of the occurrence referred to therein and stating what action the relevant Group Member proposes to take with respect
thereto.


 


6.8           Environmental
Laws.


 


(a)            Comply
with, and take commercially reasonably action to ensure compliance by all tenants and subtenants, if any, with, all applicable
Environmental Laws, and obtain and comply with and maintain, and take commercially reasonably action to ensure that all tenants
and subtenants obtain and comply with and maintain, any and all licenses, approvals, notifications, registrations or permits required
by applicable Environmental Laws, except where the failure to do so would not reasonably be expected to result in a Material Adverse
Effect.


 






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(b)            Conduct
and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions, required under Environmental
Laws and promptly comply with all lawful orders and directives of all Governmental Authorities regarding Environmental Laws, except
where the failure to do so would not reasonably be expected to result in a Material Adverse Effect, provided that no such actions
shall be required to be undertaken to the extent that the applicable Group Member is contesting such action, order or directive
in good faith and by proper proceedings, and appropriate reserves are being maintained with respect to such circumstances in accordance
with GAAP.


 


(c)            In
the event that any Group Member shall fail timely to commence or cause to be commenced or fail diligently to prosecute to completion
such actions, or fail to contest such action, order or directive in good faith, as provided in Section 6.8(b), allow the Administrative
Agent (at its election) to cause such actions to be performed, and reasonably promptly pay all reasonable costs and expenses (including
reasonable attorneys’ and consultants’ fees, charges and disbursements) incurred by the Administrative Agent in connection
therewith, provided that the Administrative Agent shall not have the right to cause such actions to be performed for any underlying
matter which would not reasonably be expected to result in a Material Adverse Effect.


 


6.9           Additional
Collateral, etc.


 


(a)            If
any additional Restricted Subsidiary is formed or acquired after the Closing Date (including any Unrestricted Subsidiary that is
designated as a Restricted Subsidiary), unless such Subsidiary is an Excluded Subsidiary, the Borrowers will, on or prior to the
latest of (i) 60 days after such formation or acquisition, (ii) the date on which financial statements are required to
be delivered pursuant to Section 6.1(a) or (b), as applicable, with respect to the fiscal quarter in which
such Restricted Subsidiary was formed or acquired and (iii) such later date as the Administrative Agent shall reasonably agree,
cause such Restricted Subsidiary to execute and to deliver to the Administrative Agent (1) a Guarantor Joinder Agreement,
(2) subject to the Agreed Security Principles, applicable Security Documents substantially similar to other Loan Parties organized
in the same jurisdiction or, if at such time there are no other Loan Parties in such jurisdiction, in respect of substantially
all of its assets (other than any Excluded Assets) to the extent customary under applicable Law (as determined by the Borrower
Representative and the Administrative Agent in good faith) and (3) if reasonably requested by the Administrative Agent, legal
opinions relating to the matters described above, which opinions shall be in form and substance reasonably satisfactory to the
Administrative Agent.


 


(b)            [Reserved].


 


(c)            Notwithstanding
anything to the contrary in this Agreement or any other Loan Document, (i) in no event shall control agreements or perfection
by control or similar arrangements be required with respect to any Collateral (including deposit or securities accounts), other
than in respect of (x) delivery of the certificated Equity Interests in UK Holdco, the Borrowers and material wholly-owned
Restricted Subsidiaries thereof to the extent constituting Collateral and required to be pledged and delivered pursuant to the
Security Documents and (y) delivery of any intercompany notes (other than the Global Intercompany Note) and other promissory
notes held by a Borrower or a Guarantor that constitute Collateral evidencing debt for borrowed money in a principal amount of
at least $25,000,000 to the extent required to be pledged and delivered pursuant to the Security Documents, (ii) in no event
shall Collateral include any Excluded Assets unless the Borrower Representative so elects, (iii) in no event shall entry into
any source code escrow arrangements or the registration of any intellectual property be required, (iv) no perfection actions
shall be required, nor shall the Administrative Agent or Collateral Agent be authorized to take any perfection or other actions,
other than (A) with respect to US Loan Parties, (1) filings pursuant to the UCC in the office of the secretary of state
(or similar central filing office) of the relevant state(s), (2) filings in the United States Copyright Office or the United
States Patent and Trademark Office with respect to intellectual property and (3) subject to the Intercreditor Agreements,
delivery to the Administrative Agent to be held in its possession of Collateral consisting of certificated Equity Interests, intercompany
notes and other promissory notes described in clause (i) above and (B) the actions required by the applicable Security
Documents to the extent consistent with the “Agreed Security Principles” set forth on Schedule 1.1B, (v) (A) no
actions in any jurisdiction other than an Applicable Security Jurisdiction, or required by the laws of any jurisdiction other than
an Applicable Security Jurisdiction, shall be required to be taken, nor shall the Administrative Agent or the Collateral Agent
be authorized to take any such action, to create any security interests in assets located or titled outside of an Applicable Security
Jurisdiction (including any Equity Interests of Subsidiaries organized under the laws of a jurisdiction other than an Applicable
Security Jurisdiction) or to perfect or make enforceable any security interests in any such assets (it being understood that there
shall be no security agreements or pledge agreements governed under the laws of any jurisdiction other than an Applicable Security
Jurisdiction and all guarantee agreements shall be governed under the laws of the State of New York) and (B) the Security
Documents shall be consistent with the “Agreed Security Principles” set forth on Schedule 1.1B and (vi) no
Loan Party shall be required to seek any landlord lien waiver, estoppel, warehouseman waiver or other collateral access or similar
letter or agreement (this paragraph, the “Collateral and Guarantee Principles”).


 






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6.10         Credit
Ratings. Use commercially reasonable efforts to maintain at all times a credit rating by each of S&P and Moody’s
in respect of the Facilities provided for under this Agreement and a corporate rating by S&P and a corporate family rating
by Moody’s for UK Holdco, Holdings or any Parent Holding Company (it being understood that there shall be no requirement
to maintain any specific credit rating).


 


6.11         Further
Assurances. At any time or from time to time upon the reasonable request of the Administrative Agent, at the expense of the
Borrowers, promptly execute, acknowledge and deliver such further documents and do such other acts and things as the Administrative
Agent may reasonably request in order to effect fully the purposes of the Loan Documents. In furtherance and not in limitation
of the foregoing, the Loan Parties shall take such actions as the Administrative Agent may reasonably request from time to time
(including the execution and delivery of guaranties, security agreements, pledge agreements, stock powers, financing statements
and other documents, the filing or recording of any of the foregoing, and the delivery of stock certificates and other collateral
with respect to which perfection is obtained by possession, in each case to the extent required by the applicable Security Documents)
to ensure that the Obligations are guaranteed by the Guarantors, on a first priority basis (subject to Permitted Liens) and are
secured by substantially all of the assets (other than those assets, including Excluded Assets, specifically excluded by the terms
of this Agreement and the other Loan Documents) of the Loan Parties, in each case subject to the Agreed Security Principles.


 


6.12         Designation
of Unrestricted Subsidiaries. The Borrower Representative may at any time after the Closing Date designate any Restricted
Subsidiary as an Unrestricted Subsidiary and subsequently re-designate any Unrestricted Subsidiary as a Restricted Subsidiary,
if other than for purposes of designating a Restricted Subsidiary as an Unrestricted Subsidiary that is a Receivables Subsidiary
in connection with the establishment of a Qualified Receivables Financing (i) the Interest Coverage Ratio of UK Holdco and
the Restricted Subsidiaries for the most recently ended Reference Period preceding such designation or re-designation, as applicable,
would have been, on a Pro Forma Basis, at least the lesser of (x) 2.00 to 1.00 and (y) the Interest Coverage Ratio as
of the most recently ended Reference Period and (ii) no Event of Default has occurred and is continuing or would result therefrom.
The designation of any Restricted Subsidiary as an Unrestricted Subsidiary after the Closing Date shall constitute an Investment
by the applicable Loan Party or Restricted Subsidiary therein at the date of designation in an amount equal to the Fair Market
Value of the applicable Loan Party’s or Restricted Subsidiary’s investment therein; provided that if any subsidiary
(a “Subject Subsidiary”) being designated as an Unrestricted Subsidiary has a subsidiary that was previously
designated as an Unrestricted Subsidiary (the “Previously Designated Unrestricted Subsidiary”) in compliance
with the provisions of this Agreement, the Investment of such Subject Subsidiary in such Previously Designated Unrestricted Subsidiary
shall not be taken into account, and shall be excluded, in determining whether the Subject Subsidiary may be designated as an
Unrestricted Subsidiary hereunder. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute
(x) the incurrence at the time of designation of Indebtedness or Liens of such Subsidiary existing at such time, and (y) a
return on any Investment by the applicable Loan Party or Restricted Subsidiary in Unrestricted Subsidiaries pursuant to the preceding
sentence in an amount equal to the Fair Market Value at the date of such designation of such Loan Party’s or Restricted
Subsidiary’s Investment in such Subsidiary. For the avoidance of doubt, neither a Borrower nor UK Holdco shall be permitted
to be an Unrestricted Subsidiary. At any time a Subsidiary is designated as an Unrestricted Subsidiary hereunder, the Borrower
Representative shall cause such Subsidiary to be designated as an Unrestricted Subsidiary (or any similar applicable term) under
the Senior Secured Notes.


 






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6.13         Employee
Benefit Plans. (i) Maintain, and cause each Commonly Controlled Entity to maintain, all Plans that are presently in existence
or may, from time to time, come into existence, in compliance with the terms of any such Plan, ERISA, the Code and all other applicable
laws, except to the extent the failure to do so would not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect; and (ii) maintain, or cause to be maintained, all Foreign Plans that are presently in existence
or may, from time to time, come into existence, in compliance with the terms of any such Foreign Plan and all applicable laws,
except to the extent the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.


 


6.14         Use
of Proceeds. The Borrowers will only use the proceeds of the Loans in accordance with Sections 4.17(d) and 4.19.


 


6.15         Post-Closing
Matters. The Borrower Representative will, and will cause each of the Restricted Subsidiaries to, take each of the actions
set forth on Schedule 6.15 within the time period prescribed therefor on such schedule (as such time period may be extended
by the Administrative Agent).


 


6.16         FCPA;
OFAC; Sanctions. The Loan Parties agree to maintain policies, procedures, and internal controls reasonably designed to ensure
compliance with the Sanctions Laws, the Export Control Laws and the applicable Anti-Corruption Laws, provided that the
obligations in this Section 6.16 shall in no event be interpreted or applied in such a manner that the obligations
hereunder would result in any Loan Party or any of its Subsidiaries in each case resident in the United Kingdom, Luxembourg, Spain
or Germany or any Secured Party resident in the European Union (or any director, officer or employee thereof) violating any anti-boycott
or blocking law, regulation or statute that is in force from time to time and applicable to such entity or person (including,
without limitation, Council Regulation (EC) 2271/96).


 


6.17         Centre
of Main Interests. No Loan Party whose jurisdiction of incorporation is in a member state of the European Union or England &
Wales shall do anything to change the location of its centre of main interests for the purposes of the Regulation (as defined
in Section 4.21); provided that in respect of Loan Parties other than UK Holdco, Holdings and the Lux Borrower,
such change of location shall be permitted if it would not be expected that such change would be materially adverse to the interests
of the Lenders (taken as a whole).


 






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6.18         Transactions
with Affiliates.


 


(a)            UK
Holdco shall make, and shall ensure that its Restricted Subsidiaries make, only those payments to, or sales, leases, transfers
or other dispositions of any of its properties or assets to, or purchases of property or assets from, or enter into or make or
amend any transaction or series of transactions, contracts, agreements, understandings, loans, advances or guarantees with, or
for the benefit of, any Affiliate of UK Holdco involving aggregate consideration in excess of the greater of $25,000,000 and 8%
of Consolidated EBITDA as of the most recently ended Reference Period (each of the foregoing, an “Affiliate Transaction”),
that are not materially less favorable to UK Holdco or the relevant Restricted Subsidiary than those that could have been obtained
in a comparable transaction by UK Holdco or such Restricted Subsidiary with an unrelated Person.


 


(b)            Notwithstanding
clause (a), the following Affiliate Transactions shall be permitted:


 


(i)            (A) transactions
between or among Holdings, UK Holdco and/or any of the Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary
as a result of such transaction), (B) [reserved] and (C) any merger or consolidation between or among UK Holdco and/or
any direct parent company of UK Holdco, provided that such parent company shall have no material liabilities and no material
assets other than cash, Cash Equivalents and the Capital Stock of UK Holdco and such merger or consolidation is otherwise in compliance
with the terms of this Agreement and effected for a bona fide business purpose; provided, that upon giving effect to such
merger or consolidation, the surviving Person shall be (or shall immediately become) a Loan Party and otherwise comply with the
requirements of Section 6.9, and 100% of the Capital Stock of such surviving Person shall be pledged to the Administrative
Agent in accordance with the terms of the Loan Documents;


 


(ii)           (A) Restricted
Payments permitted by Section 7.3 (including any payments that are exceptions to the definition of Restricted Payments
set forth in Section 7.3(a)(i) through (iv)) and (B) Permitted Investments;


 


(iii)          transactions
pursuant to compensatory, benefit and incentive plans and agreements with officers, directors, managers or employees of UK Holdco
(or any direct or indirect parent thereof) or any of the Restricted Subsidiaries approved by a majority of the Board of Directors
of UK Holdco (or any direct or indirect parent thereof) in good faith;


 


(iv)          the
payment of reasonable and customary fees and reimbursements paid to, and indemnity and similar arrangements provided on behalf
of, former, current or future officers, directors, managers, employees or consultants of UK Holdco or any Restricted Subsidiary
or any direct or indirect parent of UK Holdco;


 


(v)           transactions
in which UK Holdco or any of the Restricted Subsidiaries, as the case may be, delivers to the Administrative Agent a letter from
an Independent Financial Advisor stating that such transaction is fair to UK Holdco or such Restricted Subsidiary from a financial
point of view or meets the requirements of clause (a) of this Section 6.18;


 


(vi)          payments,
loans or advances to employees or consultants or guarantees in respect thereof (or cancellation of loans, advances or guarantees)
for bona fide business purposes in the ordinary course of business;


 


(vii)         any
agreement, instrument or arrangement as in effect as of the Closing Date or any transaction contemplated thereby, or any amendment
thereto (so long as any such amendment is not disadvantageous to Lenders in any material respect when taken as a whole as compared
to the applicable agreement as in effect on the Closing Date as determined by the Borrower Representative in good faith);


 






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(viii)        the
existence of, or the performance by UK Holdco or any of the Restricted Subsidiaries of its obligations under, the terms of any
stockholders or similar agreement (including any registration rights agreement or purchase agreement related thereto) to which
it is a party as of the Closing Date, and any amendment thereto or similar transactions, agreements or arrangements which it may
enter into thereafter; provided, however, that the existence of, or the performance by UK Holdco or any of the Restricted
Subsidiaries of its obligations under, any future amendment to any such existing transaction, agreement or arrangement or under
any similar transaction, agreement or arrangement entered into after the Closing Date shall only be permitted by this clause (viii) to
the extent that the terms of any such existing transaction, agreement or arrangement together with all amendments thereto, taken
as a whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to the Lenders in any material
respect when taken as a whole as compared to the original transaction, agreement or arrangement as in effect on the Closing Date
as determined by the Borrower Representative in good faith;


 


(ix)          (A) transactions
with customers, clients, suppliers or purchasers or sellers of goods or services, in each case in the ordinary course of business
and otherwise in compliance with the terms of this Agreement, which are fair to UK Holdco and the Restricted Subsidiaries in the
reasonable determination of the Borrower Representative, and are on terms at least as favorable as might reasonably have been obtained
at such time from an unaffiliated party or (B) transactions with joint ventures or Unrestricted Subsidiaries entered into
in the ordinary course of business;


 


(x)            any
transaction effected as part of a Qualified Receivables Financing;


 


(xi)          the
sale or issuance of Equity Interests (other than Disqualified Stock) of UK Holdco to Holdings (or a successor direct parent of
UK Holdco);


 


(xii)         [reserved];


 


(xiii)         payments
by UK Holdco or any of the Restricted Subsidiaries to the Sponsors made for any financial advisory, financing, underwriting or
placement services or in respect of other investment banking activities, including, without limitation, in connection with acquisitions
or divestitures, which payments are approved by a majority of the Board of Directors of UK Holdco or any direct or indirect parent
of UK Holdco in good faith;


 


(xiv)        any
contribution to the capital of UK Holdco or any Restricted Subsidiary;


 


(xv)         transactions
permitted by, and complying with, the provisions of Section 7.5 or Section 7.8;


 


(xvi)        [reserved];


 


(xvii)       pledges
of Equity Interests of Unrestricted Subsidiaries;


 


(xviii)      any
employment agreements, option plans and other similar arrangements entered into by UK Holdco or any of the Restricted Subsidiaries
with employees or consultants in the ordinary course of business;


 






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(xix)         the
issuances of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment
arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of UK
Holdco or any direct or indirect parent of UK Holdco or of a Restricted Subsidiary, as appropriate, in good faith;


 


(xx)          the
entering into of any tax sharing agreement or arrangement and any payments permitted by Section 7.3(b)(xii) or,
with respect to franchise or similar Taxes, by Section 7.3(b)(xiii)(1);


 


(xxi)         transactions
to effect the Transactions, including the making of the TRA Payment;


 


(xxii)        any
employment, consulting, service or termination agreement, or customary indemnification arrangements, entered into by UK Holdco
or any of the Restricted Subsidiaries with current, former or future officers and employees of UK Holdco or any of its Restricted
Subsidiaries and the payment of compensation to officers and employees of UK Holdco or any of its respective Restricted Subsidiaries
(including amounts paid pursuant to employee benefit plans, employee stock option or similar plans), in each case in the ordinary
course of business;


 


(xxiii)       transactions
with a Person that is an Affiliate of UK Holdco solely because UK Holdco, directly or indirectly, owns Equity Interests in, or
controls, such Person entered into in the ordinary course of business;


 


(xxiv)       transactions
with Affiliates solely in their capacity as holders of Indebtedness or Equity Interests of UK Holdco or any of its Subsidiaries,
so long as such transaction is with all holders of such class (and there are such non-Affiliate holders) and such Affiliates are
treated no more favorably than all other holders of such class generally;


 


(xxv)        any
agreement that provides customary registration rights to the equity holders of UK Holdco or any direct or indirect parent of UK
Holdco and the performance of such agreements;


 


(xxvi)       payments
to and from and transactions with any joint venture in the ordinary course of business; provided such joint venture is not
controlled by an Affiliate (other than a Restricted Subsidiary) of UK Holdco; and


 


(xxvii)      transactions
between UK Holdco or any of its Restricted Subsidiaries and any Person that is an Affiliate thereof solely due to the fact that
a director of such Person is also a director of UK Holdco or any direct or indirect parent of UK Holdco; provided, however,
that such director abstains from voting as a director of UK Holdco or such direct or indirect parent of UK Holdco, as the case
may be, on any matter involving such other Person.


 


6.19         Lines
of Business; Holding Company.


 


(a)           Holdings
and UK Holdco will, and will permit the Restricted Subsidiaries to, enter into only those businesses that are Similar Businesses.
UK Holdco will not issue any Capital Stock other than to Holdings.


 



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(b)          Holdings
will ensure that its only material liabilities and material assets are, and that it will only conduct, transact or otherwise engage
in any material business or operations, as follows: (i) Holdings’ ownership of the Equity Interests of UK Holdco and
activities incidental thereto, (ii) the entry into, and the performance of its obligations with respect to, the Loan Documents,
the Senior Secured Notes and other Indebtedness that has been guaranteed by, or is otherwise considered Indebtedness of, any Borrower
or any of the Restricted Subsidiaries Incurred in accordance with Section 7.2; (iii) the consummation of the Transactions;
(iv) the performing of activities (including, without limitation, cash management activities) and the entry into documentation
with respect thereto, in each case, permitted by this Agreement for Holdings to enter into and perform; (v) the payment of
dividends and distributions (and other activities in lieu thereof permitted by this Agreement), the making of contributions to
the capital of its Subsidiaries and Guarantees of Indebtedness permitted to be incurred hereunder and the Guarantees of other obligations
not constituting Indebtedness; (vi) the maintenance of its legal existence (including the ability to incur fees, costs and
expenses relating to such maintenance and performance of activities relating to its officers, directors, managers and employees
and those of its Subsidiaries); (vii) the performing of activities in preparation for and consummating any public offering
of its common stock or any other issuance or sale of its Equity Interests (other than Disqualified Stock) including converting
into another type of legal entity; (viii) the participation in Tax, accounting and other administrative matters as a member
of any consolidated or similar group including UK Holdco, including compliance with applicable Laws and legal, Tax and accounting
matters related thereto and activities relating to its officers, directors, managers and employees; (ix) the holding of any
cash and Cash Equivalents (but not operating any property); (x) the entry into and performance of its obligations with respect
to contracts and other arrangements, including the providing of indemnification to officers, managers, directors and employees;
(xi) establishing and maintaining bank accounts; (xii) guaranteeing ordinary course obligations incurred by any of the
Restricted Subsidiaries; (xiii) engaging in any activities incidental to compliance with the provisions of the Securities
Act and the Exchange Act and similar laws and regulations of other jurisdictions and the rules of securities exchanges, in
each case, as applicable to companies with listed equity or debt securities, as well as activities incidental to investor relations,
shareholder meetings and reports to shareholders or debt-holders; and (xiv) any activities incidental to the foregoing. Holdings
will cause UK Holdco to, and UK Holdco will, at all times remain a Wholly Owned Subsidiary of Holdings.


 


6.20         Lux
Borrower.








 


(a)           The
Lux Borrower (and any successor permitted under Section 6.18(b) and Section 7.8(a)) will ensure its
only material liabilities and material assets are, and that it will only conduct, transact or otherwise engage in any material
business or operations, as follows: (i) [reserved], (ii) the entry into, and the performance of its obligations under
and with respect to the Loan Documents, the Senior Secured Notes Indenture and related documents and documentation relating to
any Indebtedness or Investments permitted by the Loan Documents; (iii) the entry into, and the performance of its obligations
under the Loan Note Instruments or any future similar instruments; (iv) the consummation of the Transactions; (v) the
performing of activities (including, without limitation, cash management activities) and the entry into documentation with respect
thereto, in each case, specifically and expressly contemplated by this Agreement for Lux Borrower to enter into and perform or
incidental to such performance; (vi) the maintenance of its legal existence (including the ability to incur fees, costs and
expenses relating to such maintenance and performance of activities relating to its officers, directors, managers and employees);
(vii) the participation in Tax, accounting and other administrative matters as a member of any consolidated or similar group
including Holdings, including compliance with applicable Laws and legal, Tax and accounting matters related thereto and activities
relating to its officers, directors, managers and employees; (viii) the holding of any cash and Cash Equivalents (but not
operating any property); (ix) the entry into and performance of its obligations with respect to contracts and other arrangements,
including the providing of indemnification to officers, managers, directors and employees; (x) establishing and maintaining
bank accounts (and granting security, charges and other liens thereon to secure the Obligations and other Indebtedness or obligation
permitted to be secured thereby); (xi) engaging in any activities incidental to compliance with the provisions of the Securities
Act and the Exchange Act and similar laws and regulations of other jurisdictions and the rules of securities exchanges, in
each case, as applicable to companies with listed equity or debt securities, as well as activities incidental to investor relations,
shareholder meetings and reports to shareholders or debt-holders; and (xii) any activities incidental to the foregoing.


 






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(b)           The
Lux Borrower will only issue Capital Stock to UK Holdco. The Lux Borrower will not undertake any action that will require the Lux
Borrower to register as an ‘‘investment company’’ or an entity “controlled by an investment company”
as defined in the US Investment Company Act of 1940, as amended and the rules and regulations thereunder.


 


SECTION 7.

NEGATIVE COVENANTS


 


Each Borrower hereby
jointly and severally agrees that, until the Termination Date, such Borrower will, and will cause the Restricted Subsidiaries to,
comply with this Section 7.


 


7.1           First
Lien Net Leverage Ratio. UK Holdco shall not, without the written consent of the Majority Revolving Lenders, permit the
First Lien Net Leverage Ratio on a Pro Forma Basis as at the last day of any period of four consecutive fiscal quarters of UK
Holdco commencing with the fiscal quarter ending March 31, 2020 (but only if the last day of such fiscal quarter
constitutes a Financial Compliance Date) to exceed 7.25 to 1.00.


 


7.2           Limitation
on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock .








 





(a)           (i) UK
Holdco will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness
(including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii) UK Holdco will not permit any of the
Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that UK Holdco and any of the
Restricted Subsidiaries may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock and any
of the Restricted Subsidiaries may issue shares of Preferred Stock, in each case, if either (A) the Interest Coverage Ratio
for the most recently ended Reference Period is at least 2.00 to 1.00 or (B) the Total Net Leverage Ratio for the most recently
ended Reference Period does not exceed 6.50 to 1.00 (any such debt incurred pursuant to this proviso, “Ratio Debt”),
in each case determined on a Pro Forma Basis; provided, further, however, that the aggregate principal amount of
Indebtedness (excluding Acquired Indebtedness not Incurred in connection with or in contemplation of the applicable merger, acquisition
or other similar transaction) that may be Incurred and Disqualified Stock or Preferred Stock that may be issued pursuant to this
clause (a) by Restricted Subsidiaries that are not Borrowers or Guarantors, taken together with the principal amount
of all such Indebtedness Incurred and Disqualified Stock or Preferred Stock issued by Restricted Subsidiaries that are not Borrowers
or Guarantors outstanding pursuant to paragraph (1) of the final proviso to clause (b)(vi) and the final proviso
to clause (b)(xxii)(x) of this Section 7.2, shall not exceed the greater of $125,000,000 and 39% of Consolidated
EBITDA as of the most recently ended Reference Period at any one time outstanding.


 


(b)           The
limitations set forth in Section 7.2(a) shall not apply to (collectively, “Permitted Debt”):


 


(i)            Indebtedness
Incurred pursuant to this Agreement, any other Loan Document or any Loan Note Instrument (including any Indebtedness incurred pursuant
to Section 2.25, 2.26 or 2.28);


 






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(ii)           the Incurrence by the Borrowers and the Guarantors of Indebtedness represented by the Senior Secured Notes issued on the
Closing Date (not including any additional notes) and the guarantees, as applicable;


 


(iii)          Indebtedness
existing on the Closing Date (other than Indebtedness described in Section 7.2(b)(i) and (ii)) (in the
case of any individual item of Indebtedness in a principal amount in excess of $5,000,000, to be set forth on Schedule 7.2);


 


(iv)          Permitted
First Priority Refinancing Debt and Permitted Second Priority Refinancing Debt;


 


(v)           Permitted
Unsecured Refinancing Debt;


 


(vi)          Indebtedness,
Disqualified Stock or Preferred Stock (“Incremental Equivalent Debt”) not to exceed an amount equal to the sum
of (x) an unlimited amount at any time so long as (A) in the case of Indebtedness that is secured by a Lien on the Collateral
on a pari passu basis with the Obligations, the First Lien Net Leverage Ratio for the most recently ended Reference Period
does not exceed 5.00 to 1.00, (B) in the case of Indebtedness that is secured by a Lien on the Collateral other than on a
pari passu basis with the Obligations, the Secured Net Leverage Ratio for the most recently ended Reference Period does
not exceed 6.50 to 1.00 or (C) in the case of Indebtedness that is unsecured or is secured by a Lien on assets that do not
constitute Collateral, and in the case of Disqualified Stock or Preferred Stock, either (1) the Total Net Leverage Ratio for
the most recently ended Reference Period does not exceed 6.50 to 1.00 or (2) the Interest Coverage Ratio for the most recently
ended Reference Period is at least 2.00 to 1.00, in each case on a Pro Forma Basis (but without giving effect to the cash proceeds
of any such Indebtedness remaining on the balance sheet and calculated assuming that any such Indebtedness is fully drawn throughout
such period), plus (y) the amount of all prior voluntary prepayments, loan buybacks (with credit given to the principal
amount thereof) and commitment reductions of Term Loans, Revolving Loans, Incremental Loans, Indebtedness incurred pursuant
to this Section 7.2(b)(vi) that is secured by a Lien on the Collateral on a pari passu basis with the Obligations
and Permitted Credit Agreement Refinancing Debt and Refinancing Indebtedness previously applied to the permanent repayment of any
of the foregoing and the amount of any prepayments made to any Lender pursuant to Section 2.23, with any replacement
of a Lender pursuant thereto being deemed, solely for this purpose, to constitute a prepayment (in each case, to the extent not
funded with the proceeds of long-term Indebtedness (except Indebtedness under one or more revolving credit or similar facilities)
or the proceeds of Permitted Cure Securities applied pursuant to Section 9.4 and, with respect to any prepayment or
commitment reduction of or in respect of revolving loans, to the extent accompanied by a permanent reduction in such revolving
commitments) (minus the aggregate principal amount of Indebtedness Incurred under Section 2.25(a)(i)(y)), plus
(z) an amount equal to the greater of $325,000,000 and 100% of Consolidated EBITDA on a Pro Forma Basis as of the most recently
ended Reference Period (and after giving effect to any acquisition or other transaction consummated concurrently therewith) (minus
the aggregate outstanding principal amount of Indebtedness Incurred under Section 2.25(a)(i)(z)) (provided that,
for the avoidance of doubt, the amount available to the Borrowers pursuant to clauses (y) and (z) above shall be available
at all times and shall not be subject to any ratio test described in foregoing clause (x) above), which amount may be secured
on a pari passu or junior basis; provided, that:


 






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(1)           the
principal amount of such Indebtedness (excluding Acquired Indebtedness not Incurred in connection with or in contemplation of the
applicable merger, acquisition or other similar transaction) that may be Incurred and Disqualified Stock or Preferred Stock that
may be issued pursuant to this clause (vi) by Restricted Subsidiaries that are not Borrowers or Guarantors, shall not
exceed the greater of $125,000,000 and 39% of Consolidated EBITDA as of the most recently ended Reference Period at any one time
outstanding (minus the outstanding principal amount of such Indebtedness Incurred by Restricted Subsidiaries that are not
Borrowers or Guarantors pursuant to the second proviso to clause (a) and the final proviso to clause (b)(xxii)(x) of
this Section 7.2);


 


(2)           the
Applicable Requirements shall have been satisfied;


 


(3)           no
Indebtedness under this clause (vi) may be Incurred at any time that an Event of Default has occurred and is continuing (unless
such Indebtedness is used to finance, in whole or in part, a Limited Condition Transaction, in which case the absence of an Event
of Default shall be tested on the date specified in Section 1.4);


 


(4)          any
such Indebtedness in the form of Dollar denominated broadly syndicated term “B” loans Incurred under this clause (vi) that
is secured by a Lien on the Collateral on a pari passu basis with the Obligations shall be subject to the MFN Provision
set forth in Section 2.25(a)(vii) (giving effect to all exceptions thereto, mutatis mutandis for Incremental
Equivalent Debt);


 


(5)          [reserved];
and


 


(6)          (A) for
the avoidance of doubt, if the applicable Borrower incurs Indebtedness under clause (x) above on the same date that it incurs
Indebtedness under clauses (y) or (z) above, then the applicable incurrence ratio will be calculated with respect to
such incurrence under clause (x) without regard to any incurrence of Indebtedness under clauses (y) or (z) and (B) unless
the applicable Borrower elects otherwise, any Indebtedness incurred pursuant to this clause (vi) shall be deemed incurred
first under clause (x) above, with the balance incurred under clauses (y) and (z) above.


 


(vii)            Indebtedness
(including, without limitation, Capitalized Lease Obligations, mortgage financings or purchase money obligations) Incurred by UK
Holdco or any of the Restricted Subsidiaries, Disqualified Stock issued by UK Holdco or any of the Restricted Subsidiaries and
Preferred Stock issued by any Restricted Subsidiaries to finance all or any part of the acquisition, purchase, lease, construction,
design, installation, repair, replacement or improvement of property (real or personal), plant or equipment or other fixed or capital
assets used or useful in the business of UK Holdco or the Restricted Subsidiaries or in a Similar Business (whether through the
direct purchase of assets or the Capital Stock of any Person owning such assets) in an aggregate principal amount, including all
Indebtedness Incurred to renew, refund, Refinance, replace, defease or discharge any Indebtedness Incurred pursuant to this clause
(vii), not to exceed the greater of $150,000,000 and 47% of Consolidated EBITDA as of the most recently ended Reference Period
at any one time outstanding (minus amounts incurred and outstanding under clause (xvi) in respect of Indebtedness originally
incurred under this clause (vii)); provided, that Capitalized Lease Obligations incurred by UK Holdco or any Restricted
Subsidiary pursuant to this clause (vii) in connection with a Sale Leaseback Transaction shall not be subject to the foregoing
limitation so long as the proceeds of such Sale Leaseback Transaction are used by UK Holdco or such Restricted Subsidiary to permanently
repay outstanding loans under any credit agreement, debt facility or other Indebtedness secured by a Lien on the assets subject
to such Sale Leaseback Transaction;


 


(viii)        Indebtedness
(x) in respect of any bankers’ acceptance, bank guarantees, discounted bill of exchange or the discounting or factoring
of receivables, warehouse receipt or similar facilities, and reinvestment obligations related thereto, entered into in the ordinary
course of business and (y) constituting reimbursement obligations with respect to letters of credit issued in the ordinary
course of business, including letters of credit in respect of workers’ compensation claims, or other Indebtedness with respect
to reimbursement type obligations regarding workers’ compensation claims; provided, however, that upon the
drawing of such letters of credit or the Incurrence of such Indebtedness, such obligations are reimbursed within 45 days following
such drawing;


 






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(ix)          Indebtedness
arising from agreements of UK Holdco or a Restricted Subsidiary providing for indemnification, adjustment of purchase price, earnout
or similar obligations, in each case, Incurred in connection with the acquisition or disposition of any business, assets or
a Subsidiary of UK Holdco in accordance with the terms of this Agreement, other than guarantees of Indebtedness Incurred by any
Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition;


 


(x)           shares
of Preferred Stock of a Restricted Subsidiary issued to UK Holdco or another Restricted Subsidiary; provided that any subsequent
issuance or transfer of any Capital Stock or any other event that results in any Restricted Subsidiary that holds such shares of
Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any
such shares of Preferred Stock (except to UK Holdco or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance
of shares of Preferred Stock;


 


(xi)          Indebtedness
or Disqualified Stock of (a) a Restricted Subsidiary to UK Holdco or (b) UK Holdco or any Restricted Subsidiary to any
Restricted Subsidiary; provided that if UK Holdco or a Guarantor Incurs such Indebtedness to a Restricted Subsidiary that
is not a Borrower or a Guarantor, such Indebtedness is, on and from the date that is 120 days following the Closing Date (or such
later date as the Administrative Agent may agree in its reasonable discretion), subordinated in right of payment to the Loans or
the Guarantee of such Guarantor, as the case may be; provided, further, that any subsequent issuance or transfer
of any Capital Stock or any other event that results in any Restricted Subsidiary lending such Indebtedness or Disqualified Stock,
as applicable, ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness or Disqualified
Stock, as applicable (except to UK Holdco or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence
of such Indebtedness or Disqualified Stock, as applicable;


 


(xii)         Hedging
Obligations that are Incurred in the ordinary course of business (and not for speculative purposes) or in connection with the Transactions:
(1) for the purpose of fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms
of this Agreement to be outstanding; (2) for the purpose of fixing or hedging currency exchange rate risk; or (3) for
the purpose of fixing or hedging commodity price risk with respect to any commodity purchases;


 


(xiii)        obligations
(including reimbursement obligations with respect to letters of credit and bank guarantees) in respect of performance, bid, appeal
and surety bonds and completion guarantees provided by UK Holdco or any Restricted Subsidiaries;


 


(xiv)        Indebtedness,
Disqualified Stock or Preferred Stock in an aggregate principal amount or liquidation preference that, when aggregated with the
principal amount or liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and
Incurred pursuant to this clause (xiv), does not exceed the greater of $250,000,000 and 77% of Consolidated EBITDA as of the most
recently ended Reference Period at any one time outstanding (minus amounts incurred and outstanding under clause (xvi) in
respect of Indebtedness originally incurred under this clause (xiv));


 






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(xv)         any
guarantee by UK Holdco or any of the Restricted Subsidiaries of Indebtedness or other obligations of UK Holdco or any of the Restricted
Subsidiaries so long as the Incurrence of such Indebtedness or other obligations by UK Holdco or such Restricted Subsidiary is
permitted under the terms of this Agreement; provided that if such Indebtedness is by its express terms subordinated in
right of payment to the Loans or the Guarantee of any Guarantor, any such guarantee of such Guarantor with respect to such Indebtedness
shall be subordinated in right of payment to the Loans and the Guarantees, substantially to the same extent as such Indebtedness
is subordinated to the Loans or any relevant Guarantees, as applicable;


 


(xvi)        the
Incurrence by UK Holdco or any of the Restricted Subsidiaries of Indebtedness or Disqualified Stock or Preferred Stock of a Restricted
Subsidiary that serves to refund, Refinance, replace or defease any Indebtedness, Disqualified Stock or Preferred Stock Incurred
as permitted under clause (a) of this Section 7.2 and clauses (b)(i), (b)(ii), (b)(iii),
(b)(vi), (b)(vii), (b)(xiv), (b)(xvi), (b)(xix), (b)(xxii), (b)(xxvii) and
(b)(xxx), of this Section 7.2 or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund
or Refinance such Indebtedness, Disqualified Stock or Preferred Stock, including any additional Indebtedness, Disqualified Stock
or Preferred Stock Incurred to pay accrued and unpaid interest, fees and expenses, including any premium and defeasance costs in
connection therewith (subject to the following proviso, “Refinancing Indebtedness”) prior to its respective
maturity; provided, however, that such Refinancing Indebtedness:


 


(1)          other
than with respect to Indebtedness incurred pursuant to Section 7.2(a), revolving Indebtedness and Customary Bridge
Financings and other than with respect to Indebtedness incurred pursuant to the Inside Maturity Basket, has a Weighted Average
Life to Maturity at the time such Refinancing Indebtedness is Incurred which is not less than the shorter of (x) the remaining
Weighted Average Life to Maturity of the Indebtedness being refunded or Refinanced and (y) the remaining Weighted Average
Life to Maturity of the Senior Secured Notes;


 


(2)          other
than with respect to Indebtedness incurred pursuant to Section 7.2(a), Customary Bridge Financings and other than with
respect to Indebtedness incurred pursuant to the Inside Maturity Basket, has a Stated Maturity which is no earlier than the earlier
of (x) the Stated Maturity of the Indebtedness being refunded or Refinanced and (y) the Stated Maturity of the Senior
Secured Notes;


 


(3)          to
the extent such Refinancing Indebtedness Refinances (x) Subordinated Indebtedness, such Refinancing Indebtedness is Subordinated
Indebtedness, or (y) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness is Disqualified Stock or Preferred
Stock;


 


(4)           is
Incurred in an aggregate principal amount (or if issued with original issue discount an aggregate issue price) that is equal to
or less than the sum of (x) the aggregate principal amount (or if issued with original issue discount, the aggregate accreted
value) then outstanding of the Indebtedness being Refinanced plus (y) the amount necessary to pay accrued and unpaid
interest, fees, underwriting discounts and expenses, including any premium and defeasance costs Incurred in connection with such
Refinancing plus (z) an amount not exceeding the amount otherwise able to be Incurred pursuant to this Section 7.2
(it being understood that such amount shall constitute utilization of the applicable basket or exception to this Section 7.2);
and


 


(5)          shall
not include (x) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary that is not a Guarantor that Refinances
Indebtedness, Disqualified Stock or Preferred Stock of UK Holdco; (y) Indebtedness, Disqualified Stock or Preferred Stock
of a Subsidiary that is not a Guarantor that Refinances Indebtedness, Disqualified Stock or Preferred Stock of a Guarantor; or
(z) Indebtedness, Disqualified Stock or Preferred Stock of UK Holdco or a Restricted Subsidiary that Refinances Indebtedness,
Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary;


 






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(xvii)       Indebtedness
arising from (x) Cash Management Services and (y) the honoring by a bank or other financial institution of a check, draft
or similar instrument drawn against insufficient funds in the ordinary course of business, provided that, in the case of
this (y), such Indebtedness is extinguished within ten Business Days of its Incurrence;


 


(xviii)      Indebtedness
of UK Holdco or any Restricted Subsidiary supported by a letter of credit or bank guarantee issued pursuant to this Agreement,
in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee;


 


(xix)         Contribution
Indebtedness;


 


(xx)          Indebtedness
of UK Holdco or any Restricted Subsidiary consisting of (x) the financing of insurance premiums or (y) take-or-pay obligations
contained in supply arrangements;


 


(xxi)         Indebtedness
Incurred by a Receivables Subsidiary in a Qualified Receivables Financing that is not recourse to UK Holdco or any Restricted Subsidiary
other than a Receivables Subsidiary (except for Standard Securitization Undertakings);


 


(xxii)        (x) Indebtedness,
Disqualified Stock or Preferred Stock of UK Holdco or any of the Restricted Subsidiaries Incurred to finance an acquisition or
other Investment or (y) Acquired Indebtedness of UK Holdco or any of the Restricted Subsidiaries not Incurred in connection
with or in contemplation of the applicable merger, acquisition or other similar transaction; provided that, in the case
of clause (x), after giving effect to the transactions that result in the Incurrence or issuance thereof, on a Pro Forma Basis,
either (A) UK Holdco would be permitted to Incur at least $1.00 of additional Indebtedness as Ratio Debt or (B) (1) in
the case of Indebtedness that is secured by a Lien on the Collateral on a pari passu basis with the Obligations, the First
Lien Net Leverage Ratio on a Pro Forma Basis does not exceed the First Lien Net Leverage Ratio as of the most recently ended Reference
Period, (2) in the case of Indebtedness that is secured by a Lien on the Collateral other than on a pari passu basis
with the Obligations, the Secured Net Leverage Ratio on a Pro Forma Basis does not exceed the Secured Net Leverage Ratio as of
the most recently ended Reference Period or (3) in the case of Indebtedness that is unsecured or is secured by a Lien on assets
that do not constitute Collateral, and in the case of Disqualified Stock or Preferred Stock, either (x) the Total Net Leverage
Ratio on a Pro Forma Basis does not exceed the Total Net Leverage Ratio as of the most recently ended Reference Period or (y) the
Interest Coverage Ratio on a Pro Forma Basis is no less than the Interest Coverage Ratio as of the most recently ended Reference
Period; provided, that the aggregate principal amount of Indebtedness Incurred by Restricted Subsidiaries which are not
Borrowers or Guarantors under the preceding clause (xxii)(x) shall not exceed the greater of $125,000,000 and 39% of
Consolidated EBITDA as of the most recently ended Reference Period at any one time outstanding (minus the amount of such
Indebtedness Incurred by Restricted Subsidiaries that are not Borrowers or Guarantors outstanding pursuant to the second proviso
of clause (a) and paragraph (1) of the final proviso to clause (b)(vi) of this Section 7.2);


 


(xxiii)       Indebtedness
Incurred by UK Holdco or any Restricted Subsidiary to the extent that the net proceeds thereof are promptly deposited to defease
or to satisfy and discharge the Senior Secured Notes;


 






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(xxiv)      Guarantees
(A) Incurred in the ordinary course of business in respect of obligations of (or to) suppliers, customers, franchisees, lessors
and licensees that, in each case, are non-Affiliates or (B) otherwise constituting Investments permitted under this Agreement;


 


(xxv)       Indebtedness
issued by UK Holdco or any of the Restricted Subsidiaries to current or former employees, directors, managers and consultants thereof,
their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of
UK Holdco or any direct or indirect parent company of UK Holdco to the extent permitted by Section 7.3(b)(iv);


 


(xxvi)      Indebtedness
owed on a short-term basis of no longer than 30 days to banks and other financial institutions Incurred in the ordinary course
of business of UK Holdco and the Restricted Subsidiaries with such banks or financial institutions that arises in connection with
ordinary banking arrangements to manage cash balances of UK Holdco and the Restricted Subsidiaries;


 


(xxvii)     Indebtedness
Incurred by joint ventures of UK Holdco or any of the Restricted Subsidiaries (or by UK Holdco or any of the Restricted Subsidiaries
on behalf of any such joint venture) or guarantees of the foregoing, and Indebtedness of Restricted Subsidiaries that are Non-Guarantor
Subsidiaries, in an aggregate principal amount that does not exceed the greater of $175,000,000 and 54% of Consolidated EBITDA
as of the most recently ended Reference Period at any one time outstanding (minus amounts incurred and outstanding under
clause (xvi) in respect of Indebtedness originally incurred under this clause (xxvii));


 


(xxviii)    customer
deposits and advance payments received in the ordinary course of business from customers for goods purchased in the ordinary course
of business;


 


(xxix)       Indebtedness
Incurred pursuant to Sale Leaseback Transactions; and


 


(xxx)        Indebtedness,
Disqualified Stock or Preferred Stock of UK Holdco or a Restricted Subsidiary Incurred to finance or assumed in connection with
an acquisition of any assets (including Capital Stock), business or Person in an aggregate principal amount or liquidation preference
that does not exceed the greater of $30,000,000 and 10% of Consolidated EBITDA as of the most recently ended Reference Period,
at any one time outstanding (minus amounts Incurred and outstanding under (clause (xvi) in respect of Indebtedness originally
Incurred under this clause (xxx)).


 


(c)           For
purposes of determining compliance with this Section 7.2, with respect to Indebtedness Incurred, re-borrowings of amounts
previously repaid pursuant to “cash sweep” provisions or any similar provisions that provide that Indebtedness is deemed
to be repaid daily (or otherwise periodically) shall only be deemed for purposes of this Section 7.2 to have been Incurred
on the date such Indebtedness was first Incurred and not on the date of any subsequent re-borrowing thereof. Accrual of interest,
the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional
Indebtedness with the same terms, the payment of dividends on Disqualified Stock or Preferred Stock in the form of additional shares
of Disqualified Stock or Preferred Stock of the same class, the accretion of liquidation preference and increases in the amount
of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an Incurrence
of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section 7.2. For the avoidance of doubt,
the outstanding principal amount of any particular Indebtedness shall be counted only once. Guarantees of, or obligations in respect
of letters of credit relating to, Indebtedness that is otherwise included in the determination of a particular amount of Indebtedness
shall not be included in the determination of such amount of Indebtedness, provided that the Incurrence of the Indebtedness
represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section 7.2.


 






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(d)           For
purposes of determining compliance with any Dollar-denominated restriction on the Incurrence of Indebtedness, the Dollar-equivalent
principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange
rate in effect on the date such Indebtedness was Incurred, in the case of term debt, or first committed or first Incurred (whichever
yields the lower Dollar-equivalent amount), in the case of revolving credit debt; provided that if such Indebtedness is
Incurred to Refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable Dollar-denominated
restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such
Dollar-denominated 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 Refinanced (plus an amount not exceeding the amount otherwise able
to be Incurred pursuant to this Section 7.2, it being understood that such amount shall constitute utilization of the
applicable basket or exception to this Section 7.2).


 


7.3           Limitation
on Restricted Payments.


 








(a)           UK
Holdco will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly:


 


(i)            declare
or pay any dividend or make any distribution on account of UK Holdco’s or any of its Restricted Subsidiaries’ Equity
Interests, including any payment made in connection with any merger or consolidation involving UK Holdco (other than dividends,
payments or distributions (A) payable solely in Equity Interests (other than Disqualified Stock) of UK Holdco or to UK Holdco
and the Restricted Subsidiaries; or (B) by a Restricted Subsidiary so long as, in the case of any dividend or distribution
payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly Owned Restricted
Subsidiary, UK Holdco or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance
with its Equity Interests in such class or series of securities);


 


(ii)           purchase
or otherwise acquire or retire for value any Equity Interests of UK Holdco or any direct or indirect parent of UK Holdco;


 


(iii)          make
any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case prior to any scheduled
repayment or scheduled maturity, any Junior Indebtedness (other than the payment, redemption, repurchase, defeasance, acquisition
or retirement of (A) Junior Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or
final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition or
retirement and (B) Indebtedness permitted under Section 7.2(b)(xi)) (any such payments, redemptions, repurchases,
defeasances, acquisitions or retirements for value, “Restricted Debt Payments”); or


 


(iv)          make
any Restricted Investment;


 


(all such payments and other actions set
forth in clauses (i) through (iv) above, other than any of the exceptions set forth therein, being collectively referred
to as “Restricted Payments”), unless at the applicable time of determination:


 






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(1)          (x) solely
in the case of a Restricted Payment (other than a Restricted Investment or a Restricted Debt Payment) that is made in reliance
on clause (3)(A) below, no Event of Default shall have occurred and be continuing or would occur as a consequence thereof
and (y) solely in the case of a Restricted Debt Payment that is made in reliance on clause (3)(A) below, no Specified
Event of Default shall have occurred and be continuing or would occur as a consequence thereof;


 


(2)          [reserved];
and


 


(3)          such
Restricted Payment, together with the aggregate amount of all other Restricted Payments made by UK Holdco and the Restricted Subsidiaries
after the Closing Date (including Restricted Payments permitted by clause (b)(i), but excluding all other Restricted Payments
permitted by clause (b) of this Section 7.3), is less than the sum of, without duplication,


 


		(A)	50% of the Consolidated Net Income of UK Holdco for the period (taken as one accounting period)
from the first day of the fiscal quarter in which the Closing Date occurs to the end of UK Holdco’s most recently ended Reference
Period at the applicable time of determination; provided that this clause (A) shall in no event be less than zero,
plus



 


		(B)	100% of the aggregate net proceeds, including cash and the Fair Market Value of assets other than
cash, received by UK Holdco after the Closing Date from the issue or sale of Equity Interests of UK Holdco or any direct or indirect
parent of UK Holdco (excluding (without duplication) any Cure Amount, Refunding Capital Stock, Designated Preferred Stock, Cash
Contribution Amount, Excluded Contributions and Disqualified Stock), including Equity Interests issued upon conversion of Indebtedness
or upon exercise of warrants or options (other than an issuance or sale to a Restricted Subsidiary or an employee stock ownership
plan or trust established by UK Holdco or any of its Subsidiaries), plus



 


		(C)	100% of the aggregate amount of contributions to the capital of UK Holdco received in cash and
the Fair Market Value of property other than cash after the Closing Date (other than Excluded Contributions, Refunding Capital
Stock, Designated Preferred Stock, Disqualified Stock and the Cash Contribution Amount), plus



 


		(D)	the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase
price, as the case may be, of any Disqualified Stock, of UK Holdco or any Restricted Subsidiary thereof issued after the Closing
Date (other than any Indebtedness or Disqualified Stock issued to UK Holdco or any Restricted Subsidiary) that has been converted
into or exchanged for Equity Interests in UK Holdco (other than Disqualified Stock) or any direct or indirect parent of UK Holdco,
plus



 






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		(E)	100% of the aggregate amount received by UK Holdco or any Restricted Subsidiary in cash and the
Fair Market Value of property other than cash received by UK Holdco or any Restricted Subsidiary from:



 


		(I)	the sale or other disposition (other than to UK Holdco or a Restricted Subsidiary) of Restricted
Investments made by UK Holdco and the Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments
from UK Holdco and the Restricted Subsidiaries by any Person (other than UK Holdco or any of its Restricted Subsidiaries) and from
repayments of loans or advances which constituted Restricted Investments (other than in each case to the extent that the Restricted
Investment was made pursuant to clause (b)(vii) of this Section 7.3),



 


		(II)	the sale (other than to UK Holdco or a Restricted Subsidiary) of the Capital Stock of an Unrestricted
Subsidiary of Holdings, or



 


		(III)	any distribution or dividend from any Unrestricted Subsidiary of Holdings (to the extent such distribution
or dividend is not already included in the calculation of Consolidated Net Income); plus



 


		(F)	in the event any Unrestricted Subsidiary of UK Holdco has been redesignated as a Restricted Subsidiary
or has been merged or consolidated with or into, or transfers or conveys its assets to, or is liquidated into, UK Holdco or a Restricted
Subsidiary, in each case after the Closing Date, the Fair Market Value of the Investment of UK Holdco or its applicable Restricted
Subsidiary in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred
or conveyed, as applicable), after deducting any Indebtedness associated with such Unrestricted Subsidiary so designated or combined
or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the designation
of such Subsidiary as an Unrestricted Subsidiary was made pursuant to clause (b)(vii) of this Section 7.3 or constituted
a Permitted Investment); plus



 






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		(G)	the aggregate amount of Retained Declined Proceeds; plus



 


		(H)	the greater of $100,000,000 and 31% of Consolidated EBITDA as of the most recently ended Reference
Period.



 


(b)           The
provisions of Section 7.3(a) will not prohibit:


 


(i)            the
payment of any dividend or distribution or consummation of any redemption within 60 days after the date of declaration thereof
or the giving of a redemption notice related thereto, if at the date of declaration or notice such payment would have complied
with the provisions of this Agreement;


 


(ii)           (A) the
redemption, repurchase, defeasance, exchange, retirement or other acquisition of any Equity Interests (“Retired Capital
Stock”) of UK Holdco or any direct or indirect parent of UK Holdco or any Restricted Subsidiary or Junior Indebtedness
of UK Holdco or any Restricted Subsidiary, in exchange for, or out of the proceeds of a sale (other than to UK Holdco or a Restricted
Subsidiary) of, Equity Interests of UK Holdco or any direct or indirect parent of UK Holdco to the extent contributed to UK Holdco
or any Restricted Subsidiary or contributed to the equity capital of UK Holdco or any Restricted Subsidiary (other than any Disqualified
Stock or any Equity Interests sold to UK Holdco or any Restricted Subsidiary of UK Holdco or to an employee stock ownership plan
or any trust established by UK Holdco or any of its Restricted Subsidiaries) (collectively, including any such contributions, “Refunding
Capital Stock”); (B) if immediately prior to the retirement of Retired Capital Stock, the declaration and payment
of dividends thereon was permitted under clause (vi) of this Section 7.3(b), the declaration and payment of dividends
on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, defease,
retire or otherwise acquire any Equity Interests of any direct or indirect parent company of UK Holdco) in an aggregate amount
per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Retired Capital Stock
immediately prior to such retirement; and (C) the declaration and payment of accrued dividends on the Retired Capital Stock
out of the proceeds of the sale (other than to UK Holdco or a Restricted Subsidiary) (made within 90 days of such redemption, repurchase,
defeasance, exchange, retirement, or other acquisition) (other than to a Restricted Subsidiary of UK Holdco or to an employee stock
ownership plan or any trust established by UK Holdco or any of its Restricted Subsidiaries) of Refunding Capital Stock;


 


(iii)          the
prepayment, redemption, repurchase, defeasance, exchange or other acquisition or retirement of Junior Indebtedness of UK Holdco
or any Restricted Subsidiary (x) constituting Acquired Indebtedness not Incurred in connection with or in contemplation of
the applicable merger, acquisition or other similar transaction or (y) made by exchange for, or out of the proceeds of the
sale (made within 90 days of such prepayment, redemption, repurchase, defeasance, exchange, or other acquisition) of, new Indebtedness
of UK Holdco or a Restricted Subsidiary that is incurred in accordance with Section 7.2 so long as, in the case of
this clause (y):


 


(1)          the
principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount (or accreted
value, if applicable) of the Junior Indebtedness being so prepaid, redeemed, repurchased, defeased, exchanged, acquired or retired
for value (plus accrued and unpaid interest, fees, underwriting discounts and expenses, including any premium and defeasance
costs, required to be paid under the terms of the instrument governing the Junior Indebtedness being so prepaid, redeemed, repurchased,
defeased, exchanged, acquired or retired plus any fees and expenses Incurred in connection therewith, including reasonable
tender premiums);


 






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(2)          if
such Junior Indebtedness was subordinated to the Facilities or the related Guarantee, as the case may be, such new Indebtedness
must be subordinated to the Facilities or the related Guarantee at least to the same extent as such Junior Indebtedness so prepaid,
purchased, exchanged, redeemed, repurchased, defeased, exchanged, acquired or retired;


 


(3)          other
than with respect to Indebtedness incurred pursuant to the Inside Maturity Basket, such Indebtedness has a final scheduled maturity
date no earlier than the earlier of (x) the final scheduled maturity date of the Junior Indebtedness being so prepaid, redeemed,
repurchased, defeased, exchanged, acquired or retired or (y) the Latest Maturity Date; and


 


(4)          other
than in respect of revolving Indebtedness and Indebtedness incurred pursuant to the Inside Maturity Basket, such Indebtedness has
a Weighted Average Life to Maturity that is not less than the lesser of (x) the remaining Weighted Average Life to Maturity
of the Junior Indebtedness being so prepaid, redeemed, repurchased, defeased, acquired or retired at the time of incurrence or
(y) the remaining Weighted Average Life to Maturity of the latest maturing Term Loans;


 


(iv)          the
purchase, retirement, redemption or other acquisition (or dividends to UK Holdco or any other direct or indirect parent of UK Holdco
to finance any such purchase, retirement, redemption or other acquisition) for value of Equity Interests of UK Holdco or any direct
or indirect parent of UK Holdco held by any future, present or former employee, director or consultant of UK Holdco or any direct
or indirect parent of UK Holdco or any Subsidiary of UK Holdco or their estates or the beneficiaries of such estates pursuant to
any management equity plan or stock option plan or any other management or employee benefit plan or other similar agreement or
arrangement; provided, however, that the aggregate amounts paid under this clause (iv) do not exceed the greater
of $30,000,000 and 10% of Consolidated EBITDA as of the most recently ended Reference Period in any calendar year (with unused
amounts in any calendar year being carried over to succeeding calendar years); provided, further, however, that such
amount in any calendar year may be increased by an amount not to exceed:


 


(1)          the
cash proceeds received after the Closing Date by UK Holdco, any direct or indirect parent of UK Holdco and the Restricted Subsidiaries
from the sale of Equity Interests (other than Disqualified Stock) of UK Holdco or any direct or indirect parent of UK Holdco (to
the extent contributed to UK Holdco or any Restricted Subsidiary) to members of management, directors or consultants of UK Holdco
and the Restricted Subsidiaries (provided that the amount of such cash proceeds utilized for any such repurchase, retirement,
other acquisition or dividend will not increase the amount available for Restricted Payments under clause (a)(3) of this Section 7.3);
plus


 


(2)          the
cash proceeds of key man life insurance policies received after the Closing Date by UK Holdco, any direct or indirect parent of
UK Holdco (to the extent contributed to UK Holdco or any Restricted Subsidiary) and the Restricted Subsidiaries;


 


(provided that the Borrower Representative
may elect to apply all or any portion of the aggregate increase contemplated by clauses (1) and (2) above in any calendar
year); in addition, cancellation of Indebtedness owing to UK Holdco or any of its Restricted Subsidiaries from any current, former
or future officer, director or employee (or any permitted transferees thereof) of UK Holdco or any of the Restricted Subsidiaries
(or any direct or indirect parent company thereof), in connection with a repurchase of Equity Interests of UK Holdco (or any direct
or indirect parent company thereof) from such Persons will be deemed not to constitute a Restricted Payment for purposes of this
Section 7.3 or any other provisions of this Agreement;


 






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(v)           the
declaration and payment of dividends or distributions to holders of any class or series of Disqualified Stock of UK Holdco or any
of the Restricted Subsidiaries and any Preferred Stock of any Restricted Subsidiaries issued or Incurred in accordance with Section 7.2;


 


(vi)          (A) the
declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred Stock (other than
Disqualified Stock) issued after the Closing Date, (B) the declaration and payment of dividends to any direct or indirect
parent of UK Holdco, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated
Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of UK Holdco issued after the Closing Date; and
(C) the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess of the dividends
declarable and payable thereon pursuant to clause (b)(ii) of this Section 7.3; provided, however,
that (x) for the most recently ended Reference Period preceding the date of issuance of such Designated Preferred Stock or
the declaration of such dividends on Refunding Capital Stock that is Preferred Stock, after giving effect to such issuance (and
the payment of dividends or distributions) on a Pro Forma Basis, UK Holdco would be permitted to Incur at least $1.00 of additional
Ratio Debt pursuant to Section 7.2(a) and (y) the aggregate amount of dividends declared and paid pursuant
to this clause (vi) does not exceed the net cash proceeds actually received by UK Holdco from any such sale of Designated
Preferred Stock (other than Disqualified Stock issued after the Closing Date and securities issued in connection with the Cure
Right);


 


(vii)         Investments
in Unrestricted Subsidiaries having an aggregate Fair Market Value, taken together with all other Investments made pursuant to
this clause (vii) that are at that time outstanding, not to exceed the greater of $100,000,000 and 31% of Consolidated EBITDA
as of the most recently ended Reference Period, at any one time outstanding;


 


(viii)        the
payment of dividends on UK Holdco’s common stock (or the payment of dividends to any direct or indirect parent of UK Holdco
to fund the payment by any direct or indirect parent of UK Holdco of dividends on such entity’s common stock) of up to the
sum of (A) 6.00% per annum of the net proceeds received by or contributed to UK Holdco or its applicable direct or indirect
parent as a result of the initial public offering of UK Holdco’s publicly listed parent or any future public offering of
UK Holdco’s publicly listed parent’s common stock and (B) 2.00% per annum of the Market Capitalization of Holdings
or its applicable direct or indirect parent;


 


(ix)          Restricted
Payments in an amount equal to the amount of Excluded Contributions made;


 


(x)           other
Restricted Payments in an aggregate amount not to exceed the greater of $150,000,000 and 47% of Consolidated EBITDA as of the most
recently ended Reference Period;


 


(xi)          the
distribution, as a dividend or otherwise, of shares of Capital Stock of, or other securities of, or Indebtedness owed to, UK Holdco
or a Restricted Subsidiary by, Unrestricted Subsidiaries;


 






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(xii)         any
payments pursuant to a tax sharing agreement between UK Holdco and any other Person or a Restricted Subsidiary and any other Person
with which UK Holdco or any Restricted Subsidiary files a consolidated tax return or with which UK Holdco or any Restricted Subsidiary
is part of a group for tax purposes or any tax advantageous group contribution made pursuant to applicable legislation; provided,
however, that any such tax sharing agreement or arrangement and payment does not permit or require payments in excess of
the amounts of Tax that would be payable by UK Holdco or the Subsidiaries on a stand-alone basis;


 


(xiii)        the
payment of dividends, other distributions or other amounts to, or the making of loans to any direct or indirect parent of UK Holdco,
in the amount required for such entity to:


 


(1)           pay
amounts equal to the amounts required for any direct or indirect parent of UK Holdco to pay fees and expenses (including franchise,
capital stock, minimum and other similar taxes) required to maintain its corporate existence, customary salary, bonus and other
benefits payable to, and indemnities provided on behalf of, officers and employees of UK Holdco or any direct or indirect parent
of UK Holdco, if applicable, and general corporate operating and overhead expenses (including legal, accounting and other professional
fees and expenses) of any direct or indirect parent of UK Holdco, if applicable, in each case to the extent such fees, expenses,
salaries, bonuses, benefits and indemnities are attributable to the ownership or operation of UK Holdco, if applicable, and its
Subsidiaries;


 


(2)           pay,
if applicable, amounts equal to amounts required for any direct or indirect parent of UK Holdco, if applicable, to pay interest
and/or principal on Indebtedness the proceeds of which have been contributed to UK Holdco or any Restricted Subsidiary and that
has been guaranteed by, or is otherwise considered Indebtedness of, UK Holdco or any of the Restricted Subsidiaries Incurred in
accordance with Section 7.2; and


 


(3)             pay
fees and expenses Incurred by any direct or indirect parent related to any equity or debt offering of such parent (whether or not
successful);


 


(xiv)       (i) repurchases
of Equity Interests 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 and (ii) in connection with the withholding of a portion of the Equity Interests
granted or awarded to a director or an employee to pay for the taxes payable by such director or employee upon such grant or award;


 


(xv)        purchases
of receivables pursuant to a Receivables Repurchase Obligation in connection with a Qualified Receivables Financing and the payment
or distribution of Receivables Fees;


 


(xvi)       [reserved];


 


(xvii)     the
payment, purchase, redemption, defeasance or other acquisition or retirement for value of Junior Indebtedness, Disqualified Stock
or Preferred Stock of UK Holdco and the Restricted Subsidiaries in connection with a “change of control” (as defined
in the documentation governing such Junior Indebtedness, Disqualified Stock or Preferred Stock) or an Asset Sale that is permitted
under Section 7.5 and the other terms of this Agreement; provided that, prior to such payment, purchase, redemption,
defeasance or other acquisition or retirement for value, (x) in the case of a change of control, no Event of Default shall
have occurred and be continuing under Section 9.1(l) or the Commitments shall have been terminated and the full
amount of all Obligations (other than contingent indemnification and reimbursement obligations for which no claim has been made)
shall have been indefeasibly paid in full in cash or (y) in the case of an Asset Sale, UK Holdco (or a third party to the
extent permitted by this Agreement) has applied such amounts in accordance with Section 2.11, as the case may be;


 






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(xviii)      any
joint venture that is not a Restricted Subsidiary may make Restricted Payments required or permitted to be made pursuant to the
terms of the joint venture arrangements to holders of its Equity Interests;


 


(xix)         any
Restricted Payments made in connection with the consummation of the Transactions including the making of the TRA Payment;


 


(xx)          the
payment of cash in lieu of the issuance of fractional shares of Equity Interests upon exercise or conversion of securities exercisable
or convertible into Equity Interests of UK Holdco;


 


(xxi)        payments
or distributions, in the nature of satisfaction of dissenters’ rights, pursuant to or in connection with a consolidation,
merger or transfer of assets that complies with the provisions of this Agreement applicable to mergers, consolidations and transfers
of all or substantially all the property and assets of UK Holdco and its Subsidiaries;


 


(xxii)      the
prepayment, redemption, repurchase, defeasance, exchange, retirement or other acquisition of any Junior Indebtedness of UK Holdco
or any Restricted Subsidiary or any direct or indirect parent of UK Holdco (including dividends made to effectuate such prepayment,
redemption, repurchase, defeasance, exchange, retirement or other acquisition), in an aggregate amount not to exceed the greater
of $50,000,000 and 16% of Consolidated EBITDA as of the most recently ended Reference Period in the aggregate;


 


(xxiii)      unlimited
Restricted Payments; provided, that (x) in the case of any Restricted Investment, the Total Net Leverage Ratio, on
a Pro Forma Basis as of the most recently ended Reference Period, does not exceed 5.25 to 1.00 or (y) in the case of any other
Restricted Payment, the Total Net Leverage Ratio, on a Pro Forma Basis as of the most recently ended Reference Period, does not
exceed 4.75 to 1.00;


 


provided, however, that at
the applicable time of determination in respect of any Restricted Payment permitted under clause (b)(x) and (b)(xxiii)(y) of
this Section 7.3, no Event of Default shall have occurred and be continuing or would occur as a consequence thereof.


 


7.4          Dividend
and Other Payment Restrictions Affecting Subsidiaries. UK Holdco will not, and will not permit any Restricted Subsidiary that
is not a Borrower or a Guarantor to, directly or indirectly create or otherwise cause to become effective any consensual encumbrance
or consensual restriction on the ability of any Restricted Subsidiary that is not a Borrower or a Guarantor to:


 


(a)           (i) pay
dividends or make any other distributions to UK Holdco or any of the Restricted Subsidiaries (1) on its Capital Stock or (2) with
respect to any other interest or participation in, or measured by, its profits; or (ii) pay any Indebtedness owed to UK Holdco
or any of the Restricted Subsidiaries;


 


(b)           make
loans or advances to UK Holdco or any of the Restricted Subsidiaries; or


 






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(c)            sell,
lease or transfer any of its properties or assets to UK Holdco or any of the Restricted Subsidiaries;


 


except in each case for such encumbrances
or restrictions existing under or by reason of:


 


(1)           contractual
encumbrances or restrictions in effect or entered into or existing on the Closing Date, including pursuant to this Agreement, Hedging
Obligations and the other documents relating to the Transactions;


 


(2)           this
Agreement, the Loan Documents, the Senior Secured Notes, any additional notes permitted to be Incurred under the Senior Secured
Notes Indenture and, in each case, any guarantees thereof;


 


(3)           applicable
law or any applicable rule, regulation or order;


 


(4)           any
agreement or other instrument of a Person acquired by UK Holdco or any Restricted Subsidiary which was in existence at the time
of such acquisition or at the time it merges with or into UK Holdco or any Restricted Subsidiary or assumed in connection with
the acquisition of assets from such Person (but not created in contemplation thereof), which encumbrance or restriction is not
applicable to any Person, or the properties or assets of any Person and its Subsidiaries, other than the Person, or the property
or assets of the Person and its Subsidiaries, so acquired or the property or assets so assumed;


 


(5)           contracts
or agreements for the sale of assets, including customary restrictions with respect to a Restricted Subsidiary imposed pursuant
to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted
Subsidiary;


 


(6)           Indebtedness
secured by a Lien that is otherwise permitted to be Incurred pursuant to Sections 7.2 and 7.7 that limit the right
of the debtor to dispose of the assets securing such Indebtedness;


 


(7)           restrictions
on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business;


 


(8)           customary
provisions in joint venture, operating or other similar agreements, asset sale agreements and stock sale agreements in connection
with the entering into of such transaction;


 


(9)           purchase
money obligations for property acquired and Capitalized Lease Obligations in the ordinary course of business that impose restrictions
of the nature described in clause (c) of this Section 7.4 on the property so acquired;


 


(10)         customary
provisions contained in leases, licenses, contracts and other similar agreements entered into in the ordinary course of business
(including leases or licenses of intellectual property) that impose restrictions of the type described in clause (c) of this
Section 7.4 on the property subject to such lease, license, contract or agreement;


 






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(11)         any
encumbrance or restriction of a Receivables Subsidiary effected in connection with a Qualified Receivables Financing; provided,
that such restrictions apply only to such Receivables Subsidiary;


 


(12)        other
Indebtedness, Disqualified Stock or Preferred Stock of UK Holdco or any Restricted Subsidiary that is Incurred subsequent to the
Closing Date pursuant to Section 7.2; provided that either (A) such encumbrances and restrictions contained
in any agreement or instrument will not materially affect the Borrowers’ ability to make anticipated principal or interest
payment on the Loans (as determined by the Borrower Representative in good faith) or (B) such encumbrances and restrictions
are not materially more restrictive, taken as a whole, than those contained in the Senior Secured Notes Indenture (with respect
to other indentures) or this Agreement (with respect to other credit agreements);


 


(13)         any
Restricted Investment not prohibited by Section 7.3 and any Permitted Investment;


 


(14)         arising
or agreed to in the ordinary course of business, not relating to any Indebtedness, and that do not, individually or in the aggregate,
detract from the value of property or assets of UK Holdco or any Restricted Subsidiary in any manner material to UK Holdco or any
Restricted Subsidiary;


 


(15)       existing
under, by reason of or with respect to Refinancing Indebtedness; provided that the encumbrances and restrictions contained
in the agreements governing that Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained
in the agreements governing the Indebtedness being Refinanced (as determined by the Borrower Representative in good faith);


 


(16)         restrictions
or conditions contained in any trading, netting, operating, construction, service, supply, purchase, sale or other agreement to
which UK Holdco or any of the Restricted Subsidiaries is a party entered into in the ordinary course of business; provided
that such agreement prohibits the encumbrance of solely the property or assets of UK Holdco or such Restricted Subsidiary that
are the subject of such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other
asset or property of UK Holdco or such Restricted Subsidiary or the assets or property of any other Restricted Subsidiary; and


 


(17)       any
encumbrances or restrictions of the type referred to in clauses (a), (b) and (c) of this Section 7.4 imposed
by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the
contracts, instruments or obligations referred to in clauses (1) through (16) above; provided that such amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith
judgment of the Borrower Representative, not materially more restrictive when taken as a whole with respect to such dividend and
other payment restrictions than those contained in the dividend or other payment restrictions prior to such amendment, modification,
restatement, renewal, increase, supplement, refunding, replacement or refinancing.


 


For purposes of determining compliance
with this Section 7.4, (i) the priority of any Preferred Stock in receiving dividends or liquidating distributions
prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to
make distributions on Capital Stock and (ii) the subordination of loans or advances made to UK Holdco or a Restricted Subsidiary
to other Indebtedness Incurred by UK Holdco or such Restricted Subsidiary shall not be deemed a restriction on the ability to make
loans or advances.


 






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7.5           Asset
Sales. UK Holdco will not, and will not permit any of the Restricted Subsidiaries to, cause or make an Asset Sale, unless:


 


(a)          UK
Holdco or any of the Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least
equal to the Fair Market Value (as determined in good faith by the Borrower Representative) of the Equity Interests issued or assets
sold or otherwise disposed of;


 


(b)          [reserved];
and


 


(c)          except
in the case of a Permitted Asset Swap, at least 75% of the consideration therefor received by UK Holdco or such Restricted Subsidiary,
as the case may be, when taken together with the consideration for all other Asset Sales pursuant to this Section 7.5
since the Closing Date (on a cumulative basis), is in the form of cash or Cash Equivalents, provided, however, that
in the case of Asset Sales involving the disposition of non-core assets (as determined by the Borrower Representative in its good
faith judgment provided the value of such non-core assets does not exceed 50% of the consideration payable in connection with such
acquisition) acquired as part of any acquisition after the Closing Date, only 50% of the consideration therefor, when taken together
with the consideration for all other Asset Sales pursuant to this proviso since the Closing Date, must be in the form of cash or
Cash Equivalents; provided, further, that the amount of:


 


(i)            any
liabilities (as shown on UK Holdco’s or such Restricted Subsidiary’s most recent balance sheet or in the notes thereto
or, if Incurred, increased or decreased subsequent to the date of such balance sheet, such liabilities that would have been reflected
in UK Holdco’s or such Restricted Subsidiary’s balance sheet or in the notes thereto if such incurrence, increase or
decrease had taken place on the date of such balance sheet, as reasonably determined in good faith by the Borrower Representative)
of UK Holdco or any Restricted Subsidiary (other than liabilities that are by their terms subordinated to the Obligations) that
are assumed by the transferee (or a third party on behalf of the transferee) of any such assets or Equity Interests pursuant to
an agreement that releases or indemnifies UK Holdco or such Restricted Subsidiary (or a third party on behalf of the transferee),
as the case may be, from further liability;


 


(ii)           any
notes or other obligations or other securities or assets received by UK Holdco or such Restricted Subsidiary from such transferee
that are converted by UK Holdco or such Restricted Subsidiary into cash within 180 days of the receipt thereof (to the extent of
the cash received);


 


(iii)         any
Designated Non-cash Consideration received by UK Holdco or any of the Restricted Subsidiaries in such Asset Sale having an aggregate
Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii) that
is at that time outstanding, not to exceed the greater of $75,000,000 and 24% of Consolidated EBITDA as of the most recently ended
Reference Period, at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item
of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value);


 


(iv)          Indebtedness
of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Asset Sale, to the extent that UK Holdco
and each other Restricted Subsidiary are released from any Guarantee of such Indebtedness in connection with such Asset Sale; and


 



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(v)           consideration
consisting of Indebtedness of UK Holdco or any Guarantor received from Persons who are not UK Holdco or a Restricted Subsidiary,


 


shall each be deemed to be Cash Equivalents
for the purposes of this Section 7.5;


 


After UK Holdco’s
or any Restricted Subsidiary’s receipt of the Net Cash Proceeds of any Asset Sale pursuant to clauses (a) to (c) above,
UK Holdco or such Restricted Subsidiary shall apply the Net Cash Proceeds from such Asset Sale if and to the extent required by
Section 2.11(c).


 


7.6           [Reserved].


 


7.7           Liens.
UK Holdco will not, and will not permit any of the Restricted Subsidiaries to, create or incur any Lien (other than Permitted
Liens) that secures obligations under any Indebtedness on any asset or property of UK Holdco or any Restricted Subsidiary.


 


7.8           Fundamental
Changes. UK Holdco will not, nor will it permit any of the Restricted Subsidiaries to, directly or indirectly merge, dissolve,
liquidate, amalgamate, 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, except that:


 


(a)           (i) any
Restricted Subsidiary (other than any Borrower) may merge, amalgamate or consolidate with (1) any US Borrower (including a
merger the purpose of which is to reorganize such US Borrower into a new jurisdiction in any State of the United States); provided
that such US Borrower shall be the continuing or surviving Person or the surviving Person shall expressly assume the obligations
of such US Borrower pursuant to documents reasonably acceptable to the Administrative Agent, (2) the Lux Borrower; provided
that the Lux Borrower shall be the continuing or surviving Person, or (3) any one or more other Restricted Subsidiaries and
(ii) any Borrower may merge, amalgamate or consolidate with any other Borrower; provided that, in the case of a merger,
amalgamation or consolidation with the Lux Borrower, if the surviving Person is not the Lux Borrower such surviving Person shall
be subject to Section 6.20(a); provided that (y) when any Additional Revolving Borrower is merging, amalgamating
or consolidating with another Restricted Subsidiary that is not another Additional Revolving Borrower or a Loan Party then either
(A) the Additional Revolving Borrower shall be the continuing or surviving Person and resident in its jurisdiction of incorporation
or (B) (I) the Additional Revolving Borrower shall cease to be a Borrower under this Agreement in accordance with Section 12.3,
(II) to the extent constituting an Investment, such Investment must be an Investment permitted hereunder and (III) to
the extent constituting a Disposition, such Disposition must be permitted hereunder and (z) when any Guarantor is merging
with another Restricted Subsidiary that is not a Loan Party (A) the Guarantor shall be the continuing or surviving Person
or (B) (I) to the extent constituting an Investment, such Investment must be an Investment permitted hereunder and (II) to
the extent constituting a Disposition, such Disposition must be permitted hereunder;


 


(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 and (ii) any Restricted Subsidiary may liquidate or dissolve, or any Borrower or any
Restricted Subsidiary may (if the validity, perfection and priority of the Liens securing the Obligations is not adversely
affected thereby) change its legal form if the Borrower Representative determines in good faith that such action is in the
best interest of UK Holdco and its Subsidiaries and is not disadvantageous to the Lenders in any material respect (it being
understood that in the case of any dissolution of a Restricted Subsidiary that is (A) an Additional Revolving Borrower,
such Subsidiary shall at or before the time of such dissolution cease to be an Additional Revolving Borrower under this
Agreement in accordance with Section 12.3 or (B) a Guarantor, such Subsidiary shall at or before the time of
such dissolution transfer its assets to another Restricted Subsidiary that is a Guarantor unless such Disposition of assets
is permitted hereunder; and in the case of any change in legal form, a Restricted Subsidiary that is an Additional Revolving
Borrower or a Guarantor will remain an Additional Revolving Borrower or Guarantor unless such Additional Revolving Borrower
or Guarantor is otherwise permitted to cease being an Additional Revolving Borrower or Guarantor hereunder);


 






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(c)            any
Restricted Subsidiary (other than any Borrower) may Dispose of all or substantially all of its assets (upon voluntary liquidation
or otherwise) to any Borrower or to any Restricted Subsidiary; provided that if the transferor in such a transaction is
(A) an Additional Revolving Borrower, then such Subsidiary shall cease to be an Additional Revolving Borrower under this Agreement
in accordance with Section 12.3 or (B) a Guarantor, then (i) the transferee must either be a Borrower or
a Guarantor and (ii) to the extent constituting an Investment, such Investment must be an Investment permitted hereunder;
provided, further, that any US Borrower may Dispose of all or substantially all of its assets (upon voluntary liquidation
or otherwise) to any other Loan Party;


 


(d)           any
Restricted Subsidiary may merge, amalgamate or consolidate with, or dissolve into, any other Person in order to effect an Investment
permitted hereunder; provided that (i) the continuing or surviving Person shall, to the extent subject to the terms
hereof, have complied with the requirements of Section 6.9, (ii) to the extent constituting an Investment, such
Investment must be an Investment permitted hereunder, (iii) to the extent constituting a Disposition, such Disposition must
be permitted hereunder and (iv) to the extent such Restricted Subsidiary is an Additional Revolving Borrower, it shall cease
to be an Additional Revolving Borrower in accordance with Section 12.3;


 


(e)            UK
Holdco, the Borrowers and the other Restricted Subsidiaries may consummate the Transactions;


 


(f)            subject
to clause (a) above, any Restricted Subsidiary (excluding any Borrower other than any US Borrower) may merge, dissolve, liquidate,
amalgamate, consolidate with or into another Person in order to effect a Disposition permitted pursuant to Section 7.5;
provided that if such Restricted Subsidiary is an Additional Revolving Borrower, it shall cease to be an Additional Revolving
Borrower in accordance with Section 12.3; and


 


(g)             any
Investment permitted hereunder may be structured as a merger, consolidation or amalgamation,


 


provided, in each case, that if
any asset subject to a disposal or transfer to, or merger, amalgamation or consolidation with, or dissolution into, any other Loan
Party pursuant to this Section 7.8 is subject to a Lien created by any Security Document at the time of such disposal
or transfer to, or merger, amalgamation or consolidation with, or dissolution into, such other Loan Party, it shall be disposed
of or transferred on the basis that it shall remain subject to, or otherwise become subject to equivalent, Liens under a Security
Document immediately following such disposal (subject to the Agreed Security Principles).


 


7.9          [Reserved].


 


7.10        Changes
in Fiscal Periods. UK Holdco will not permit the fiscal year of UK Holdco to end on a day other than December 31 or change
UK Holdco’s method of determining fiscal quarters except upon written notice to the Administrative Agent whereupon the Borrower
Representative and the Administrative Agent will, and are hereby authorized, without the consent of any other Secured Party or
other Person, to make such adjustments to this Agreement as are reasonably necessary to reflect such change in fiscal year or
method of determining fiscal quarters.


 






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7.11        Negative
Pledge Clauses. UK Holdco will not, and will not permit any of the Restricted Subsidiaries that is a Loan Party to, enter
into or suffer to exist or become effective any agreement that prohibits or limits the ability of UK Holdco or any Group Member
that is a Loan Party to create, incur, assume or suffer to exist any Lien upon any of its property or revenues that constitutes
Collateral, whether now owned or hereafter acquired, to secure its obligations under the Loan Documents to which it is a party
other than (a) this Agreement and the other Loan Documents, (b) any agreements evidencing or governing any purchase
money Liens or Capitalized Lease Obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only
be effective against the assets financed thereby), (c) customary restrictions on the assignment of leases, licenses and contracts
entered into in the ordinary course of business, (d) any agreement in effect at the time any Person becomes a Restricted
Subsidiary; provided that such agreement was not entered into in contemplation of such Person becoming a Restricted Subsidiary,
(e) customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary (or the
assets of a Restricted Subsidiary) pending such sale; provided that such restrictions and conditions apply only to the
Restricted Subsidiary that is to be sold (or whose assets are to be sold) and such sale is permitted hereunder), (f) restrictions
and conditions existing on the Closing Date and any amendments or modifications thereto so long as such amendment or modification,
taken as a whole, does not expand the scope of any such restriction or condition in any material respect as determined by the
Borrower Representative in good faith, (g) restrictions under agreements evidencing or governing or otherwise relating to
Indebtedness of Non-Guarantor Subsidiaries permitted under Section 7.2; provided that such Indebtedness is
only with respect to the assets of Non-Guarantor Subsidiaries, (h) customary provisions in joint venture agreements, limited
liability company operating agreements, partnership agreements, stockholders agreements and other similar agreements, (i) restrictions
contained in agreements governing the Senior Secured Notes and (j) restrictions contained in agreements governing Indebtedness,
Preferred Stock or Disqualified Stock permitted by Section 7.2 that (x)  are not materially more restrictive,
taken as a whole, than the restrictions contained in this Agreement (as determined by the Borrower Representative in good faith)
or (y) will not materially impair the Borrowers’ obligation or ability to make any payments required hereunder (as
determined by the Borrower Representative in good faith).


 


SECTION 8.

GUARANTEE


 


8.1          The
Guarantee. (a) [Reserved].


 


(b)           Each
Guarantor hereby jointly and severally guarantees, as a primary obligor and not as a surety, to each Secured Party and their respective
successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand,
by acceleration or otherwise) of (1) the principal of and interest (including any interest, fees, costs or charges that would
accrue but for the provisions of the Bankruptcy Code after any bankruptcy or insolvency petition under the Bankruptcy Code or any
similar law of any other jurisdiction) on (i) the Loans made by the Lenders to, including the Loans represented by the Notes
held by each Lender of, any Borrower, (ii) the Incremental Loans made by the Incremental Term Lenders or Incremental Revolving
Lenders to any Borrower, (iii) the Other Term Loans and Other Revolving Loans made by any lender thereof, and (iv) the
Notes held by each Lender of any Borrower and (2) all other Obligations from time to time owing to the Secured Parties by
any Borrower (such obligations under clauses (1) and (2) being herein collectively called the “Guaranteed Obligations”
and the “Guarantor Obligations”). Each Guarantor hereby jointly and severally agrees that, if any Borrower shall
fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, such
Guarantor will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of
time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended
maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.


 






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8.2          Obligations
Unconditional.


 


(a)           The
obligations of the Guarantors under Section 8.1 shall constitute a guaranty of payment (and not of collection) and
to the fullest extent permitted by applicable Requirements of Law, are absolute, irrevocable and unconditional, joint and several,
irrespective of the value, genuineness, validity, regularity or enforceability of the Guaranteed Obligations under this Agreement,
the Notes, if any, or any other agreement or instrument referred to herein or therein, or any substitution, release or exchange
of any other guarantee of or security for any of the Guaranteed Obligations, and, in each case, irrespective of any other circumstance
whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety by any Guarantor (except for payment
in full). Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following
shall not alter or impair the liability of any Guarantor hereunder, which shall, in each case, remain absolute, irrevocable and
unconditional under any and all circumstances as described above:


 


(i)            at
any time or from time to time, without notice to any Guarantor, the time for any performance of or compliance with any of the Guarantor
Obligations shall be extended, or such performance or compliance shall be waived;


 


(ii)           any
of the acts mentioned in any of the provisions of this Agreement or the Notes, if any, or any other agreement or instrument referred
to herein or therein shall be done or omitted;


 


(iii)          the
maturity of any of the Guarantor Obligations shall be accelerated, or any of the Guarantor Obligations shall be amended in any
respect, or any right under the Loan Documents or any other agreement or instrument referred to herein or therein shall be amended
or waived in any respect or any other guarantee of any of the Guarantor Obligations or any security therefor shall be released
or exchanged in whole or in part or otherwise dealt with;


 


(iv)          any
Lien or security interest granted to, or in favor of, the Issuing Lenders or any Lender or the Administrative Agent or Collateral
Agent as security for any of the Guarantor Obligations shall fail to be valid or perfected or entitled to the expected priority;


 


(v)           the
release of any other Guarantor pursuant to Section 8.9, 10.10 or otherwise; or


 


(vi)         except
for the payment in full of the Guarantor Obligations, any other circumstance whatsoever which may or might in any manner or to
any extent vary the risk of any Guarantor as an obligor in respect of the Guarantor Obligations or which constitutes, or might
be construed to constitute, an equitable or legal discharge of any Borrower or any Guarantor for the Guarantor Obligations, or
of such Guarantor under the Guarantee or of any security interest granted by any Guarantor, whether in a proceeding under any Debtor
Relief Law or in any other instance.


 


(b)          Each
of the Guarantors hereby expressly waives diligence, presentment, demand of payment, marshaling, protest and all notices whatsoever,
and any requirement that any Secured Party exhaust any right, power or remedy or proceed against any Borrower under this Agreement
or the Notes, if any, or any other agreement or instrument referred to herein or therein, or against any other person under any
other guarantee of, or security for, any of the Guarantor Obligations. Each of the Guarantors waive any and all notice of the creation,
renewal, extension, waiver, termination or accrual of any of the Guarantor Obligations and notice of or proof of reliance by any
Secured Party upon the guarantee made under this Section 8 (this “Guarantee”) or acceptance of the
Guarantee, and the Guarantor Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred
in reliance upon the Guarantee, and all dealings between the Borrowers and the Secured Parties shall likewise be conclusively presumed
to have been had or consummated in reliance upon the Guarantee. The Guarantee shall be construed as a continuing, absolute, irrevocable
and unconditional guarantee of payment without regard to any right of offset with respect to the Guarantor Obligations at any time
or from time to time held by the Secured Parties and the obligations and liabilities of the Guarantors hereunder shall not be conditioned
or contingent upon the pursuit by the Secured Parties or any other person at any time of any right or remedy against any Borrower
or against any other person which may be or become liable in respect of all or any part of the Guarantor Obligations or against
any collateral security or guarantee therefor or right of offset with respect thereto. The Guarantee shall remain in full force
and effect and be binding in accordance with and to the extent of its terms upon the Guarantors and the successors and assigns
thereof, and shall inure to the benefit of the applicable Lenders, and their respective successors and assigns, notwithstanding
that from time to time during the term of this Agreement there may be no Guarantor Obligations outstanding.


 






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8.3           Reinstatement.
The obligations of the Guarantors under this Section 8 shall be automatically reinstated if and to the extent that
for any reason any payment by or on behalf of the Borrowers or any other Loan Party in respect of the Guarantor Obligations is
rescinded or must be otherwise restored by any holder of any of the Guarantor Obligations, whether as a result of any proceedings
in bankruptcy or reorganization or otherwise.


 


8.4           No
Subrogation. Each Guarantor hereby agrees that until the payment and satisfaction in full in cash of all Guarantor Obligations
(other than contingent indemnification and reimbursement obligations for which no claim has been made) and the expiration and
termination of the Commitments under this Agreement, it shall waive any claim and shall not exercise any right or remedy, direct
or indirect, arising by reason of any performance by it of its Guarantee, whether by subrogation, right of contribution or otherwise,
against any Borrower or any other Guarantor of any of the Guarantor Obligations or any security for any of the Guarantor Obligations.


 


8.5           Remedies.
Each Guarantor jointly and severally agrees that, as between the Guarantors and the Lenders, the obligations of each Borrower
under this Agreement and the Notes, if any, may be declared to be forthwith due and payable as provided in Section 9
(and shall be deemed to have become automatically due and payable in the circumstances provided in Section 9) for
purposes of Section 8.1, notwithstanding any stay, injunction or other prohibition preventing such declaration (or
such obligations from becoming automatically due and payable) as against any Borrower or any Guarantor and that, in the event
of such declaration (or such obligations being deemed to have become automatically due and payable, or the circumstances occurring
where Section 9 provides that such obligations shall become due and payable), such obligations (whether or not due
and payable by any Borrower) shall forthwith become due and payable by the Guarantors for purposes of Section 8.1.


 


8.6           Instrument
for the Payment of Money. Each Guarantor hereby acknowledges that the Guarantee constitutes an instrument for the payment
of money, and consents and agrees that any Lender or the Administrative Agent, at its sole option, in the event of a dispute by
such Guarantor in the payment of any moneys due hereunder, shall have the right to bring a motion-action under New York CPLR Section 3213.


 


8.7           Continuing
Guarantee. The Guarantee made by the Guarantors is a continuing guarantee of payment, and shall apply to all Guaranteed Obligations
whenever arising.


 






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8.8           General
Limitation on Guarantor Obligations. In any action or proceeding involving any federal, state, provincial or territorial,
corporate, limited partnership or limited liability company law, or any applicable state, federal or foreign bankruptcy, insolvency,
reorganization or other law affecting the rights of creditors generally, if the obligations of any Guarantor under Section 8.1
would otherwise be held or determined to be void, voidable, invalid or unenforceable, or subordinated to the claims of any
other creditors, on account of the amount of its liability under Section 8.1, then, notwithstanding any other provision
to the contrary, the amount of such liability of such Guarantor shall, without any further action by such Guarantor, any Loan
Party or any other Person, be automatically limited and reduced to the highest amount (after giving effect to the right of contribution
established in Section 8.10) that is valid and enforceable and not subordinated to the claims of other creditors as
determined in such action or proceeding. To effectuate the foregoing, the Administrative Agent and the Guarantors hereby irrevocably
agree that the Guarantor Obligations of each Guarantor in respect of the Guarantee at any time shall be limited to the maximum
amount as will result in the Guarantor Obligations of such Guarantor with respect thereto not constituting a fraudulent transfer
or conveyance after giving full effect to the liability under such Guarantee and its related contribution rights but before taking
into account any liabilities under any other guarantee by such Guarantor. For purposes of the foregoing, all guarantees of such
Guarantor other than its Guarantee will be deemed to be enforceable and payable after the Guarantee. To the fullest extent permitted
by applicable law, this Section 8.8 shall be for the benefit solely of creditors and representatives of creditors
of each Guarantor and not for the benefit of such Guarantor or the holders of any Equity Interest in such Guarantor.


 


8.9           Release
of Subsidiary Guarantors. A Subsidiary Guarantor or a Borrower shall be automatically released from its obligations hereunder
in the event that all the Capital Stock of such Subsidiary Guarantor or Borrower shall be sold, transferred or otherwise disposed
of to a Person other than a Loan Party in a transaction permitted by this Agreement. In connection with any such release of a
Guarantor or Borrower, the Administrative Agent shall execute and deliver to the Borrower Representative, at the Borrower Representative’s
expense, all UCC termination statements and other documents that the Borrower Representative shall reasonably request to evidence
such release.


 


8.10         Right
of Contribution. Each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its proportionate
share of any payment made hereunder, such Subsidiary Guarantor shall be entitled to seek and receive contribution from and against
any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor’s right of contribution
shall be subject to the terms and conditions of Section 8.4. The provisions of this Section 8.10 shall
in no respect limit the obligations and liabilities of any Guarantor to the Administrative Agent and the other Secured Parties,
and each Guarantor shall remain liable to the Administrative Agent and the other Secured Parties for the full amount guaranteed
by such Guarantor hereunder. Notwithstanding the foregoing, no Excluded ECP Guarantor shall have any obligations or liabilities
to any Guarantor, the Administrative Agent or any other Secured Party with respect to Excluded Swap Obligations.


 


8.11         Keepwell.
Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such
funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under the Guarantee
in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 8.11
for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 8.11,
or otherwise under the Guarantee, as it relates to such Loan Party, voidable under applicable law relating to fraudulent conveyance
or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section 8.11
shall remain in full force and effect until the termination and release of all Obligations in accordance with the terms of
this Agreement. Each Qualified ECP Guarantor intends that this Section 8.11 constitute, and this Section 8.11
shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party
for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.


 






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8.12         Limitations.


 


(a)           Limitations
in Luxembourg.


 


(i)           Notwithstanding
anything to the contrary contained in this Agreement or in any other Loan Document, the aggregate obligations of a Luxembourg Guarantor
in respect of the obligations of a Group Member which is not a direct or indirect subsidiary of such Luxembourg Guarantor shall
be limited at any time to an aggregate amount not exceeding 90% of the greater of:


 


(1)           an
amount equal to the sum of the Luxembourg Guarantor’s Net Assets (Capitaux Propres), as referred to in annex I to
the grand-ducal regulation dated 18 December 2015 defining the form and content of the presentation of balance sheet and profit
and loss account, and enforcing the Luxembourg law dated 19 December 2002 on the register of commerce and companies, accounting
and companies annual accounts, as amended (the “Regulation”) and its subordinated debt (dettes subordonnées),
as reflected in the financial information of the Luxembourg Guarantor available to the Secured Parties as at the Closing Date or
(as applicable) as at the date of its accession as a Guarantor, including, without limitation, its most recently and duly approved
financial statements (comptes annuels) and any (unaudited) interim financial statements signed by its board of directors
(administrateurs); and


 


(2)           an
amount equal to the sum of the Luxembourg Guarantor’s Net Assets (Capitaux Propres), as referred to in the Regulation,
and its subordinated debt (dettes subordonnées), as reflected in the financial information of the Luxembourg Guarantor
available to the Secured Parties as at the date the Guarantee is called, including, without limitation, its most recently and duly
approved financial statements (comptes annuels) and any (unaudited) interim financial statements signed by its board of
directors (administrateurs).


 


(ii)          The
limitation set forth at paragraph (i) above shall not apply to any amounts borrowed under this Agreement and made available,
in any form whatsoever, to such Luxembourg Guarantor or any of its direct or indirect subsidiaries.


 


(iii)        The
Luxembourg Guarantor’s obligations under this Section 8 will not extend to include any obligations or liabilities
if such inclusion would constitute a breach of the financial assistance prohibitions contained at Article 430-19 (where applicable)
of the Luxembourg law on commercial companies of 10 August 1915, as amended.


 


(b)          Limitations
in the United Kingdom. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Documents,
this Guarantee does not apply to any liability to the extent that it would result in such Guarantee constituting unlawful financial
assistance within the meaning of sections 678 or 679 of the United Kingdom Companies Act 2006.


 






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(c)           Limitations
in Spain. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, the aggregate
obligations of a Spanish Guarantor will not extend to any liability to the extent that it would result in such guarantee constituting
unlawful financial assistance within the meaning of Sections 143.2 and 150 of the Spanish Companies’ Act (Ley de Sociedades
de Capital). This Guarantee is independent and separate from the obligations of the Borrowers or other Guarantors and, consequently,
the guarantee granted by any Spanish Loan Party under this Agreement will in no event be construed or configured as a Spanish “fianza”
for the purposes of article 1,822 seq of the Spanish Civil Code. The obligations of each Spanish Loan Party under this Clause 8
will not be affected by any action made under the Additional Section 4 (Disposición Adicional Cuarta) of the
Spanish Insolvency Law, 22/2003 (Ley Concursal) in relation to any other Spanish Loan Party. For the purposes of article
135 of the Spanish Insolvency Law, the obligations of a Guarantor that is a Spanish Loan Party under this Agreement vis-á-vis
each Lender shall be governed by the terms of this Agreement at any time such that each Spanish Loan Party’s obligations
pursuant to this Section 8 shall not be affected in any way by the settlement agreement that may be agreed in the insolvency
proceedings of any other Spanish Loan Party (nor shall they be deemed amended as a consequence of the approval of that settlement
agreement) that each of the Lenders has approved or acceded to or irrespective of the fact that any such Lender has not approved
or acceded to, that settlement agreement.


 


(d)           Limitations
in Germany.


 


(i)            The
Secured Parties agree not to enforce the Guarantee granted under this Section 8 (Guarantee) against a Guarantor incorporated
in Germany as a limited liability company (GmbH) (a “German GmbH Guarantor”), or as a limited partnership
(Kommanditgesellschaft) with a limited liability company as sole general partner (GmbH & Co. KG) (the “German
GmbH & Co. KG Guarantor”, together with any German GmbH Guarantor hereinafter referred to as a “German
Guarantor”) to the extent that this Guarantee secures liabilities of an affiliated company (verbundenes Unternehmen)
within the meaning of Section 15 et seq. of the German Stock Corporation Act (AktG Aktiengesetz) of that German Guarantor
(other than the German Guarantor’s (direct or indirect) Subsidiaries) (the “Guaranteed Loan Party”) if
and to the extent that a payment under the Guarantee would cause that German Guarantor’s, or, in the case of a German GmbH &
Co. KG Guarantor, its general partner’s, net assets (to be calculated in accordance with generally accepted accounting principles
applicable in Germany consistently applied by the German Guarantor in preparing its unconsolidated balance sheets (Jahresabschluss
according to § 42 GmbH-Act, §§ 242, 264 of the German Commercial Code (HGB Handelsgesetzbuch)) being the
German Guarantors’ or, in the case of a German GmbH & Co. KG Guarantor, its general partner’s, assets less
the sum of (i) the German Guarantor’s liabilities (to be calculated in accordance with generally accepted accounting
principles applicable in Germany consistently applied by the German Guarantor in preparing its unconsolidated balance sheets (Jahresabschluss
according to § 42 GmbH-Act, §§ 242, 264 of the German Commercial Code), (disregarding, for the avoidance of doubt,
(x) any provision in respect of the guarantee created under this Agreement, and (y) any provision in respect of or liabilities
of the German Guarantor under any Guarantee of senior unsecured indebtedness or Indebtedness subordinated in right of payment to
the Obligations which Guarantee contains a limitation as to maximum amount similar to that set forth in this paragraph, pursuant
to which the liability of such Guarantor hereunder is included in the liabilities taken into account in determining such maximum
amount), (ii) the amounts of profits (Gewinne) not available for distribution to its shareholders and (iii) the
stated share capital (Stammkapital) of the German Guarantor or, in the case of a German Guarantor in the legal form of GmbH &
Co. KG, its general partner (the “Net Assets”), (as adjusted in accordance with sub-paragraph (ii) below)
to be reduced below zero, or further reduced if already below zero.


 


(ii)           For
the purposes of the calculation of the Net Assets the following balance sheet items shall be adjusted as follows:


 


(1)           the
amount of any increase of the stated share capital (Stammkapital) of the German Guarantor, or, in case of a German GmbH &
Co. KG Guarantor, its general partner, after the Closing Date (A) that has been effected without the prior written consent
of the Administrative Agent out of retained earnings (Kapitalerhöhung aus Gesellschaftsmitteln) or (B) to the
extent that it is not fully paid up, shall be deducted from the stated share capital;


 






    186


     


    

 


(2)           loans
and contractual liabilities incurred in violation of the provisions of the Loan Documents shall be disregarded; and


 


(3)           any
liabilities of the German Guarantor in respect of intercompany indebtedness owed to any other Loan Party to the extent that such
intercompany indebtedness may be permanently discharged in an amount equal to the amount paid by such German Guarantor hereunder
by way of set-off, contribution, waiver or otherwise (and the relevant Loan Parties are actually permitted to do so under the Loan
Documents and applicable law at the relevant time).


 


(iii)        In
addition, each German Guarantor, and, in case of a German GmbH & Co. KG Guarantor, its general partner, shall, for the
purposes of determining the Net Assets, upon the request of the Collateral Agent realize, to the extent legally permitted and commercially
justifiable with respect to the cost and efforts involved, in a situation where such German Guarantor, and, in the case of a German
GmbH & Co. KG Guarantor, its general partner, does not have sufficient Net Assets to maintain its stated share capital,
any and all of its assets that are shown in the balance sheet of the German Guarantor, or, in case of a German GmbH &
Co. KG Guarantor, its general partner, with a book value (Buchwert) that is significantly lower than the market value of
the assets if the asset is not necessary for such German Guarantor’s, and, in the case of a German GmbH & Co. KG
Guarantor, its general partner’s, business, (betriebsnotwendig) (the “Realizable Assets”).


 


(iv)        No
Secured Party shall enforce this Agreement against the relevant German Guarantor before the Net Assets (as determined in accordance
with clauses (i) and (ii) of this Section 8.12(d)), i.e., the amounts which may be claimed against a relevant
German Guarantor, or, in the case of a German GmbH & Co. KG Guarantor, its general partner, have been determined in accordance
with the following further procedure:


 


(1)           following
a notification by the Collateral Agent to the relevant German Guarantor of the Secured Parties’ intention to enforce this
Guarantee such German Guarantor shall notify the Collateral Agent in writing within twenty (20) Business Days of such notification
of the Net Assets (the “Management Determination”). If the Collateral Agent disagrees with this Management Determination
such German Guarantor, acting reasonably, shall engage at its expense a firm of auditors of international standard and repute which
shall proceed to audit the relevant German Guarantor with a view to investigating such German Guarantor’s Net Assets (the
 “Auditors’ Determination”) within thirty (30) Business Days (or such longer period as has been agreed
between the German Guarantor and the Collateral Agent) from the date the Collateral Agent has contested the Management Determination
and the German Guarantor shall give notice of such engagement to the Collateral Agent. Each relevant German Guarantor shall render
any and all reasonable assistance requested by the auditors for the purposes of facilitating the Auditors’ Determination
and shall allow full access to and inspection of its books and any other necessary documents.


 


(2)           The
Auditors’ Determination of the Net Assets shall take into account, in addition to the terms set forth in clauses (i), (ii) and
(iii) of this Section 8.12(d), the generally accepted accounting principles applicable in Germany and be based
on the same principles that were applied when establishing the previous year’s balance sheet.


 






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(3)            The
Secured Parties may proceed to enforce this Guarantee granted by the relevant German Guarantor, if and to the extent that (i) the
German Guarantor has not provided the Management Determination within the twenty (20) Business Days period or (ii) an Auditors’
Determination cannot has not been obtained within the thirty (30) Business Days following notice by the Collateral Agent to the
relevant German Guarantor that it disagrees with its Management Determination. The maximum amount that may be claimed against such
relevant German Guarantor in those circumstances will be the amount determined by the Collateral Agent in good faith acting reasonably
by reference to the most recent financial statements delivered in respect of the relevant German Guarantor under this Agreement
and, based on such determination by the Collateral Agent, the payment of which would not result in such German Guarantor, or, in
the case of a German GmbH & Co. KG Guarantor, its general partner, having insufficient assets to maintain its stated share
capital. For the purpose of calculating such amount, the adjustments referred to in clauses (i) and (ii) of this Section 8.12(d) will
be made to the most recent financial statements delivered as aforesaid.


 


(v)         If
the amount payable under the relevant Guarantee was determined in accordance with Section 8.12(d)(iv)(3), because an
Auditors’ Determination or Management Determination could not be obtained as outlined in Section 8.12(d)(iv)(1),
and, in such case, an Auditors’ Determination delivered by the relevant German Guarantor to the Collateral Agent within sixty
(60) Business Days after the respective auditor should have been engaged in accordance with Section 8.12(d)(iv)(1) confirms
that the amount available under the relevant Guarantee granted hereunder at the time of enforcement was less than the amount recovered
by the Collateral Agent, the Secured Parties agree to release to the relevant German Guarantor an amount of the proceeds equal
to the amount by which the recoveries relating to the relevant Guarantee exceeded the amount determined to be available.


 


(vi)        The
limitations set out in clause (i) of this Section 8.12(d) shall not apply:


 


(1)             to
any amounts due and payable under any Loan Document which relate to funds which have been drawn under the Loans and on-lent to
the relevant German Guarantor or to any of its (direct or indirect) Subsidiaries and such amounts on-lent have not been repaid
prior to a demand for payment being made under this Guarantee and are still outstanding ;


 


(2)            if
the German Guarantor is subject to a domination and/or profit transfer agreement (Beherrschungs- und/oder Gewinnabführungsvertrag)
(a “DPTA”) (as dominated entity) with the Guaranteed Loan Party, whether directly or indirectly through a chain
of DPTAs between each company and its shareholder (or in case of a German GmbH & Co. KG Guarantor between its general
partner and its shareholder), if and to the extent that the existence of a DPTA leads to the inapplicability of Section 30
para. 1 sentence 1 of the German Limited Liability Companies Act;


 


(3)            if
and to the extent that the relevant German Guarantor holds on the date of enforcement of the Guarantee a fully recoverable indemnity
claim or claim for refund (“vollwertiger Gegenleistungs- oder Rückgewähranspruch”) against the Guaranteed
Loan Party; or


 


(4)            if
and to the extent it is not required in order to avoid any personal liability of the managing directors of the German Guarantors
(or, in case of a German GmbH & Co. KG Guarantor, of its general partner) as a result of a breach of section 30 GmbHG.


 






    	 	 188	 



     


    

 


(vii)         None
of the reduction of the amount enforceable under this Agreement in accordance with the above limitations set out in this Section 8.12(d) will
prejudice the rights of the Secured Parties to continue enforcing this Guarantee (subject always to the operation of the limitations
set forth above at the time of such enforcement) until full satisfaction of the Guarantor Obligations of the German Guarantor.


 


(e)           Each
Guarantor that as of the Closing Date or thereafter is incorporated, organized or formed, as the case may be, under the laws of
any jurisdiction other than those jurisdictions set forth in clauses (a) through (d) above (an “Other
Guarantor”), and by its acceptance hereof, each Lender and the Administrative Agent, hereby confirm that it is the intention
of all such parties that the Guarantee of an Other Guarantor (i) does not constitute a fraudulent transfer or conveyance for
purposes of, or otherwise violate, applicable Law and (ii) shall be subject to the Agreed Security Principles. To effectuate
the foregoing intention, each Lender and each Other Guarantor hereby irrevocably agrees that the obligations of an Other Guarantor
under its Guarantee shall be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities
of such Other Guarantor result in the obligations of such Other Guarantor not constituting such a fraudulent transfer or conveyance
or otherwise violating applicable Law and be subject to such other limitations in accordance with the Agreement Security Principles
or under applicable Law and as are described in such Other Guarantor’s Guarantor Joinder Agreement and/or Borrower Joinder.


 


(f)           Notwithstanding
anything in this Section 8.12 to the contrary, if following the Closing Date:


 


(i)            there
shall be any change in the Laws of any of the jurisdictions set forth in clauses (a) and (b) of this Section 8.12;


 


(ii)           there
shall be any change in the Laws under which any Other Guarantor is incorporated, organized or formed, as the case may be; or


 


(iii)          any
Person shall be required to execute a Guarantee pursuant to Section 6.9 and such Person is incorporated, organized
or formed, as the case may be, under the laws of any jurisdiction other than those in which entities are contemplated to become
Guarantors as of the Closing Date, including those jurisdictions addressed in clauses (a) and (b) of this
Section 8.12 and other than any jurisdiction in which a then existing Other Guarantor is incorporated, organized or
formed, as the case may be (a “Future Guarantor”), and the Borrower Representative shall reasonably determine
that the provisions of Section 8.12 hereof with respect to any Other Guarantor shall not adequately address the limitations
on such Guarantee as set forth in the Agreed Security Principles or imposed by applicable Law of the jurisdiction of incorporation,
organization or formation, as the case may be, of such Future Guarantor,


 


then the Administrative Agent and the Borrower
Representative shall be permitted to amend such clause or add such additional provisions to such clause, as the case may be, to
the extent necessary so that the Guarantee of a Guarantor is subject to the limitations set forth in the Agreed Security Principles
or does not violate applicable Law.


 


(g)         With
respect to any Guarantor, this Guarantee is subject to any limitations set out in any Guarantor Joinder Agreement and/or Borrower
Joinder applicable to such Guarantor.


 






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SECTION 9.

EVENTS OF DEFAULT


 





9.1          Events
of Default.    An Event of Default shall occur if any of the following events shall occur and be continuing; provided
that any requirement for the giving of notice, the lapse of time, or both, has been satisfied (any such event, an “Event
of Default”):


 


(a)           any
Borrower shall fail to pay (x) any principal of any Loan or Reimbursement Obligation when due in accordance with the terms
hereof or (y) any interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under any other
Loan Document, within three Business Days after any such interest or other amount becomes due in accordance with the terms hereof;
or


 


(b)           any
representation or warranty made or deemed made by any Loan Party herein or in any other Loan Document or that is contained in any
certificate furnished by it at any time under or in connection with this Agreement or any such other Loan Document shall prove
to have been inaccurate in any material respect (except where such representations and warranties are already qualified by materiality,
in which case, in any respect) on or as of the date made or deemed made (or if any representation or warranty is expressly stated
to have been made as of a specific date, inaccurate in any material respect as of such specific date), and shall (to the extent
capable of cure), remain inaccurate for a period of 30 days; it being understood and agreed that any breach of representation,
warranty or certification resulting from the failure of the Administrative Agent to file any Uniform Commercial Code continuation
statement (or other similar statement) shall not result in an Event of Default under this clause (b) or any other provision
of any Loan Document; or


 


(c)           any
Loan Party shall default in the observance or performance of any agreement contained in Section 6.4(a)(i) (in
respect of Holdings and UK Holdco), Section 6.7(a) (provided that (x) the delivery of a notice of Default
or Event of Default at any time or (y) the curing of the underlying Default or Event of Default with respect to which notice
is required to be given will, in each case, cure an Event of Default arising from the failure to timely deliver such notice of
Default or Event of Default, as applicable, in each case unless a Responsible Officer of a Loan Party had actual knowledge of such
Default or Event of Default or any Loan Party knowingly fails to give timely notice of any such Default or Event of Default) or
Section 7 of this Agreement (other than Section 7.1); or


 


(d)           subject
to Section 9.4, UK Holdco shall default in the observance or performance of its agreement contained in Section 7.1;
provided that, notwithstanding anything to the contrary in this Agreement or any other Loan Document, a breach of the requirements
of Section 7.1 shall not constitute an Event of Default for purposes of any Facility other than the Revolving Facility;
or


 


(e)           any
Loan Party shall default in the observance or performance of any other agreement contained in this Agreement or any other Loan
Document (other than as provided in paragraphs (a) through (d) of this Section 9.1), and such default shall
continue unremedied for a period of 30 days after notice to the Borrower Representative from the Administrative Agent or the Required
Lenders; or


 


(f)             any
Group Member shall (i) default in making any payment of any principal of any Indebtedness (including any Guarantee Obligation
in respect of Indebtedness, but excluding the Loans) on the scheduled or original due date with respect thereto; or (ii) default
in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in the instrument or
agreement under which such Indebtedness was created; or (iii) default in the observance or performance of any other agreement
or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto,
or any other event shall occur or condition exist, in each case beyond the applicable notice period and grace period, if any, provided
therefor, the effect of which default or other event or condition is to (x) cause, or to permit the holder or beneficiary
of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required,
such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee
Obligation) to become payable or (y) to cause, with the giving of notice if required, any Group Member to purchase or redeem
or make an offer to purchase or redeem such Indebtedness prior to its stated maturity; provided that a default, event or
condition described in clause (i), (ii) or (iii) of this Section 9.1(f) shall not at any time constitute
a Default or an Event of Default unless, at such time, one or more defaults, events or conditions of the type described in clauses
(i), (ii) and (iii) of this Section 9.1(f) shall have occurred and be continuing with respect to Indebtedness
the outstanding principal amount of which exceeds in the aggregate $125,000,000; provided, further, that clause (iii) of
this Section 9.1(f) shall not apply to secured Indebtedness that becomes due as a result of the voluntary Disposition
of the property or assets securing such Indebtedness, if such Disposition is permitted hereunder and such Indebtedness that becomes
due is paid upon such Disposition; or


 






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(g)           (i) any
Borrower, any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or any Significant Subsidiary shall commence
any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating
to bankruptcy, insolvency, reorganization, suspension of payments, moratorium of any indebtedness, winding up, dissolution, administration,
scheme of arrangement or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate
it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding up, liquidation, dissolution, composition,
compromise or assignment or other relief with respect to it or its debts, or (B) seeking appointment of a liquidator, receiver,
administrative receiver, administrator, compulsory manager, trustee, custodian, conservator or other similar official for it or
for all or any substantial part of its assets or any Borrower, any Guarantor (other than any Guarantor that is an Immaterial Subsidiary)
or any Significant Subsidiary shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced
against any Borrower, any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or any Significant Subsidiary any
case, proceeding, analogous procedure, step or other action of a nature referred to in clause (i) above that results in the
entry of an order for relief or any such adjudication or appointment that (1) in respect of any US Subsidiary of UK Holdco,
remains undismissed, undischarged or unbonded pending appeal for a period of 60 days and (2) in respect of Holdings, UK Holdco,
the Lux Borrower and any Foreign Subsidiary, remains undismissed, undischarged or unbonded pending appeal for a period of 30 days;
or (iii) there shall be commenced against any Borrower, any Guarantor (other than any Guarantor that is an Immaterial Subsidiary)
or any Significant Subsidiary any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint
or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief
that (1) in respect of any US Subsidiary of UK Holdco, shall not have been vacated, discharged, or stayed or bonded pending
appeal within 60 days from the entry thereof and (2) in respect of Holdings, UK Holdco, the Lux Borrower and any Foreign Subsidiary,
shall not have been vacated, discharged, or stayed or bonded pending appeal within 30 days from the entry thereof; or (iv) any
Borrower, any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or any Significant Subsidiary shall take any
action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i),
(ii), or (iii) above or (v) any Borrower, any Guarantor (other than any Guarantor that is an Immaterial Subsidiary) or
any Significant Subsidiary shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts
as they become due;


 


(h)           (i) any
Person shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of
the Code) involving any Plan; (ii) any Plan shall fail to meet the minimum funding standards of Section 412 or 430 of
the Code or Section 302 or 303 of ERISA or any Lien in favor of the PBGC or a Plan shall arise on the assets of any Group
Member or any Commonly Controlled Entity; (iii) a Reportable Event shall occur with respect to, or proceedings shall commence
to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable
Event or commencement of proceedings or appointment of a trustee is reasonably likely to result in the termination of such Plan
for purposes of Title IV of ERISA; (iv) any Single Employer Plan shall terminate for purposes of Title IV of ERISA; (v) 
any Group Member or any Commonly Controlled Entity shall, or is reasonably likely to, incur any liability in connection with a
complete or partial withdrawal from, or the Insolvency of, a Multiemployer Plan; (vi) any other event or condition shall occur
or exist with respect to a Plan that could give rise to liability under Title IV of ERISA; or (vii) any Foreign Benefit Plan
Event shall occur; and in each case in clauses (i) through (vii) above, such event or condition, together with all other
such events or conditions, if any, would reasonably be expected to have a Material Adverse Effect; or


 






    	 	 191	 



     


    

 


(i)            one
or more judgments or decrees shall be entered against any Group Member involving in the aggregate a liability (not (x) paid
or covered by insurance as to which the relevant insurance company has been notified of the claim and has not denied coverage or
(y) covered by valid third party indemnification obligation from a third party which is Solvent and which third party has
been notified of the claim under such indemnification obligation and not disputed that it is liable for such claim) in an amount
of at least $125,000,000, and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal
within 60 days from the entry thereof; or


 


(j)            any
of the Security Documents shall cease, for any reason, to be in full force and effect, other than pursuant to the terms hereof
or thereof, or any Loan Party shall so assert in writing, or any Lien created by any of the Security Documents shall cease to be
enforceable and of the same effect and priority purported to be created thereby (other than pursuant to the terms hereof or thereof),
except (A) to the extent that (x) any such loss of perfection or priority results from the failure of the Administrative
Agent to maintain possession of certificates actually delivered to it representing securities pledged under any Security Agreement
or from the failure of the Administrative Agent to file UCC continuation statements (or similar statements or filings in other
jurisdictions) and (y) the Loan Parties take such action as the Administrative Agent may reasonably request to remedy such
loss of perfection or priority or (B) where the Fair Market Value of the assets affected thereby does not exceed $100,000,000;
or


 


(k)           the
Guarantee of Holdings, UK Holdco or a Significant Subsidiary of UK Holdco shall cease, for any reason, to be in full force and
effect, other than as provided for in Sections 8.9 or 10.10, or any Loan Party or any Affiliate of any Loan Party
shall so assert in writing;


 


(l)            a
Change of Control shall occur; or


 


(m)          any
Loan Party repudiates or rescind this Agreement or the Loan Documents or evidences an intention to repudiate or rescind this Agreement
or the Loan Documents in a manner which is materially adverse to the interests of the Lenders as a whole and, where capable of
remedy, the circumstance are not remedied within 10 days of the earlier of (a) becoming aware of a failure to comply and (b) receiving
a written notice of the Administrative Agent notifying it of that failure.


 


9.2          [Reserved].


 






    	 	 192	 



     


    

 


9.3           Action
in Event of Default.


 


(a)           (x) Upon
any Event of Default specified in Section 9.1(g)(i) or (ii) occurring and continuing with respect
to any Borrower under the Bankruptcy Code or any other liquidation, conservatorship, bankruptcy, composition, compromise or assignment
for the benefit of creditors, moratorium, rearrangement, receivership or administration, insolvency, reorganization, or similar
debtor relief law of the United States from time to time in effect and affecting the rights of creditors generally, the Commitments
to lend to such Borrower shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other
Obligations owing by such Borrower under this Agreement and the other Loan Documents (including all amounts of L/C Obligations,
whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder)
shall automatically immediately become due and payable (provided that the occurrence of such event in relation to such Borrower
shall not, except to the extent provided in this clause (x), result in any Loan being accelerated without a notice having been
given pursuant to clause (y) below to the Borrowers (including, for the avoidance of doubt, any other Loan Party)), and (y) if
any other Event of Default (other than under Section 9.1(g)(i) or (ii) in respect of a Borrower as
set out in clause (x) above) occurs and is continuing, subject to Section 9.3(b) and (c), either or
both of the following actions may be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or
upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers declare the Revolving Commitments
to be terminated forthwith, whereupon the Revolving Commitments shall immediately terminate; and/or (ii) with the consent
of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall,
by notice to the Borrowers, declare the Loans (with accrued interest thereon) and all other Obligations owing under this Agreement
and the other Loan Documents (including all amounts of L/C Obligations, whether or not the beneficiaries of the then outstanding
Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall
immediately become due and payable. In furtherance of the foregoing, the Administrative Agent may, or upon the request of the Required
Lenders the Administrative Agent shall, exercise any and all other remedies available under the Loan Documents at law or in equity,
including commencing and prosecuting any suits, actions or proceedings at law or in equity in any court of competent jurisdiction
and collecting the Collateral or any portion thereof and enforcing any other right in respect of any Collateral.


 


(b)           Upon
the occurrence of an Event of Default under Section 9.1(d) (a “Financial Covenant Event of Default”)
that is uncured or unwaived, the Majority Revolving Lenders may, so long as a Financial Compliance Date continues to be in effect,
either (x) terminate the Revolving Commitments and/or (y) take the actions specified in Section 9.3(a) and
(c) in respect of the Revolving Commitments, the Revolving Loans, Letters of Credit and any Swingline Loans.


 


(c)           In
respect of a Financial Covenant Event of Default that is continuing, the Required Lenders may take the actions specified in Section 9.3(a) on
the date that the Majority Revolving Lenders terminate the Revolving Commitments and accelerate all Obligations in respect of the
Revolving Commitments; provided, however, that the Required Lenders may not take such actions if either (i) the
Revolving Loans have been repaid in full (other than contingent indemnification and reimbursement obligations for which no claim
has been made) and the Revolving Commitments have been terminated or (ii) the Financial Covenant Event of Default has been
waived by the Majority Revolving Lenders.


 


(d)           With
respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at the time of an acceleration
pursuant to this paragraph, the Borrowers shall at such time deposit in a Cash Collateral Account opened by the Administrative
Agent an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit. Amounts held in such Cash Collateral
Account shall be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused
portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay
other Obligations of the Borrowers hereunder and under the other Loan Documents. After all such Letters of Credit shall have expired
or been fully drawn upon and all amounts drawn thereunder have been reimbursed in full and all other Obligations of the Borrowers
hereunder and under the other Loan Documents shall have been paid in full (other than contingent indemnification and reimbursement
obligations for which no claim has been made), the balance, if any, in such Cash Collateral Account shall be returned to the Borrowers
(or such other Person as may be lawfully entitled thereto). Except as expressly provided above in this Section 9.3,
presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Borrowers.


 






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9.4           Right
to Cure.


 


(a)           Notwithstanding
anything to the contrary contained in Section 9, in the event that UK Holdco fails (or, but for the operation of this
Section 9.4, would fail) to comply with the requirements of Section 7.1, Holdings shall have the right
from the date of delivery of a Notice of Intent to Cure with respect to the fiscal quarter most recently ended for which financial
results have been provided under Sections 6.1(a) or (b) until 10 Business Days thereafter (the “Cure
Period”), to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the equity capital of
Holdings, and, in each case, to contribute any such cash to the equity capital of UK Holdco (collectively, the “Cure Right”),
and upon the receipt by UK Holdco of such cash (the “Cure Amount”) pursuant to the exercise by Holdings of such
Cure Right, the First Lien Net Leverage Ratio shall be recalculated by increasing Consolidated EBITDA (solely for purposes of compliance
with Section 7.1 and determining whether an Event of Default is continuing for purposes of clause (y) of the definition
of Applicable Margin) on a Pro Forma Basis solely for the purpose of measuring the First Lien Net Leverage Ratio and not for any
other purpose under this Agreement, by an amount equal to the Cure Amount.


 


(b)           If,
after giving effect to the foregoing recalculations, UK Holdco shall then be in compliance with the requirements of Section 7.1,
then UK Holdco shall be deemed to have satisfied the requirements of Section 7.1 as of the relevant date of determination
with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default
of Section 7.1 that had occurred shall be deemed not to have occurred for the purposes of this Agreement.


 


(c)           To
the extent a fiscal quarter ended for which the First Lien Net Leverage Ratio was initially recalculated as a result of a Cure
Right and such fiscal quarter is included in the calculation of the First Lien Net Leverage Ratio in a subsequent fiscal quarter,
the Cure Amount shall be included in Consolidated EBITDA of such initial fiscal quarter.


 


(d)           Notwithstanding
anything herein to the contrary, (i) in each four-fiscal-quarter period there shall be at least two fiscal quarters in which
the Cure Right is not exercised, (ii) for purposes of this Section 9.4, the Cure Amount shall be no greater than
the amount required for purposes of complying with the First Lien Net Leverage Ratio, determined at the time the Cure Right is
exercised with respect to the fiscal quarter ended for which the First Lien Net Leverage Ratio was initially recalculated as a
result of a Cure Right, (iii) the Cure Amount shall be disregarded for all other purposes of this Agreement, including, determining
any baskets with respect to the covenants contained in Section 7, and shall not result in any adjustment to any amounts
other than the amount of Consolidated EBITDA as described in clause (a) above, (iv) there shall be no pro forma
reduction in Indebtedness with the proceeds of any Cure Amount for the fiscal quarter immediately preceding the fiscal quarter
in which the Cure Right is exercised for purposes of determining compliance with Section 7.1 except to the extent the
Cure Amount is actually applied to repay Indebtedness and (v) Holdings shall not exercise the Cure Right in excess of five
instances over the term of this Agreement.


 


9.5           Application
of Proceeds.    If an Event of Default shall have occurred and be continuing, the Administrative Agent may
apply, at such time or times as the Administrative Agent may elect, all or any part of proceeds constituting Collateral in payment
of the Obligations (and in the event the Loans and other Obligations are accelerated pursuant to Section 9.3, the
Administrative Agent shall, from time to time, apply the proceeds constituting Collateral in payment of the Obligations) in the
following order:


 






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(a)           First,
to the payment of all costs and expenses of any sale, collection or other realization on the Collateral, including reimbursement
for all costs, expenses, liabilities and advances made or incurred by the Administrative Agent in connection therewith (including
all reasonable costs and expenses of every kind incurred in connection any action taken pursuant to any Loan Document or incidental
to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Administrative
Agent and the other Secured Parties hereunder, reasonable attorneys’ fees and disbursements and any other amount required
by any provision of law (including Section 9-615(a)(3) of the Uniform Commercial Code) (or any equivalent law in any
foreign jurisdiction)), and all amounts for which Administrative Agent is entitled to indemnification hereunder and under the
other Loan Documents and all advances made by the Administrative Agent hereunder and thereunder for the account of any Loan Party
(excluding principal and interest in respect of any Loans extended to such Loan Party), and to the payment of all costs and expenses
paid or incurred by the Administrative Agent in connection with the exercise of any right or remedy hereunder or under this Agreement
or any other Loan Document and to the payment or reimbursement of all indemnification obligations, fees, costs and expenses owing
to the Administrative Agent hereunder or under this Agreement or any other Loan Document, all in accordance with the terms hereof
or thereof;


 


(b)           Second,
for application by it pro rata to (i) repay the Swingline Lender for any then outstanding Swingline Loans to the extent
Revolving Lenders have not funded their obligations to acquire participations therein, (ii) cure any Funding Default that
has occurred and is continuing at such time and (iii) repay the Issuing Lenders for any amounts not paid by L/C Participants
pursuant to Section 3.4;


 


(c)           Third,
for application by it towards all other Obligations (including, without duplication, Guarantor Obligations), pro rata among
the Secured Parties according to the amounts of the Obligations then held by the Secured Parties (including all Obligations arising
under Specified Cash Management Agreements, Specified Swap Agreements and including obligations to provide cash collateral with
respect to Letters of Credit); and


 


(d)           Fourth,
any balance of such Proceeds remaining after all of the Obligations shall have been satisfied by payment in full in immediately
available funds (or in the case of Letters of Credit, terminated or Collateralized) and the Commitments shall have been terminated,
be paid over to or upon the order of the applicable Loan Party or to whosoever may be lawfully entitled to receive the same or
as a court of competent jurisdiction may direct.


 


9.6           Clean-Up
Period.


 


(a)           Notwithstanding
anything to the contrary set forth herein or in any other Loan Document, during the Clean-Up Period, the occurrence of any breach
of a representation, covenant or an Event of Default (other than an Event of Default set out in Section 9.1(a)) will
be deemed not to be a breach of a representation or warranty or a breach of a covenant or an Event of Default, as the case may
be, if it would have been (if it were not for this provision) a breach of representation or warranty or a breach of a covenant
or an Event of Default only by reason of circumstances relating exclusively to, with respect to any Permitted Acquisition or other
Permitted Clean-Up Investment (or the subsidiaries of such target), the target of such Permitted Acquisition or Permitted Clean-Up
Investment, and provided that such breach or Event of Default:


 






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(i)             is
capable of being remedied within the Clean-Up Period and the Loan Parties are taking appropriate steps to remedy such breach or
Event of Default;


 


(ii)            does
not have and is not reasonably likely to have a Material Adverse Effect; and


 


(iii)           was
not procured by or approved by Holdings or the Borrowers.


 


(b)          Notwithstanding
Section 9.6(a), if the relevant circumstances are continuing on or after the expiry of the Clean-Up Period, there shall
be a breach of representation or warranty, breach of covenant or Event of Default, as the case may be, notwithstanding the above
(and without prejudice to the rights and remedies of the Agents and the Lenders).


 


(c)          For
the avoidance of doubt, if any breach of representation or warranty, breach of covenant or Event of Default shall be deemed to
not exist due to Section 9.6(a) during the Clean-Up Period, then such breach of representation or warranty, breach
of covenant or Event of Default shall be deemed not to exist for purposes of Section 5.2 for so long as (but in no
event later than the end of the Clean-Up Period) such breach of representation or warranty, breach of covenant or Event of Default
shall be deemed not to exist due to the provisions of Section 9.6(a).


 


SECTION 10.

ADMINISTRATIVE AGENT


 


10.1         Appointment
and Authority.


 


(a)          Administrative
Agent. Each of the Lenders and the Issuing Lenders hereby irrevocably appoints Bank of America, N.A. to act on its behalf
as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such
actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. The provisions of this Section 10 are
solely for the benefit of the Administrative Agent, the Joint Bookrunners, the Joint Lead Arrangers, the Lenders and the Issuing
Lenders, and, except to the extent that any Group Member has any express rights under this Section 10, no Group Member
shall have rights as a third party beneficiary of any of such provisions. Each Joint Lead Arranger and Joint Bookrunner shall
be an intended third party beneficiary of the provisions set forth in this Agreement that are applicable thereto. It is understood
and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with
reference to the Administrative 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 as a matter of market custom, and is intended to create
or reflect only an administrative relationship between contracting parties.


 


(b)          Collateral
Agent. The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of
the Lenders (including in its capacities as a potential Qualified Counterparty and a potential Cash Management Provider) and the
Issuing Lenders hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender and the
Issuing Lenders (with the full power to appoint and to substitute and to delegate) on its behalf, or in its own name as joint
and several creditor or creditor of a parallel debt (as the case may be) 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 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 10.5
for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Security 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 Section 10 and Section 11, 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 on its behalf and/or
in its own name (including under any parallel debt) 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 this Agreement and the Security Documents and acknowledge and agree that any such action by any Agent shall bind the Lenders.
Each Lender agrees that it shall not take or institute any actions or proceedings, judicial or otherwise, for any right or remedy
with respect to any Collateral against any Borrower or any other Loan Party or any other obligor under any of the Loan Documents,
Specified Swap Agreements or any Specified Cash Management Agreement (including, in each case, 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 of any Borrower or any other Loan Party, without
the prior written consent of the Administrative Agent. In the event of a foreclosure by the Administrative Agent on any of the
Collateral pursuant to a public or private sale or a sale of any of the Collateral pursuant to Section 363 of the Bankruptcy
Code (or an equivalent process in any foreign jurisdiction), the Administrative Agent or any Lender may be the purchaser of any
or all of such Collateral at any such sale and the Administrative Agent, as agent for and representative of the Lenders (but not
any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise agree in writing)
shall be entitled, with the consent or at the direction of the Required Lenders, for the purpose of bidding and making settlement
or payment of the purchase price for all or any portion of the Collateral sold at any such sale, to use and apply any of the Obligations
as a credit on account of the purchase price for any Collateral payable by the Administrative Agent at such sale.


 






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(c)          German
Collateral. In relation to any Collateral created under Security Documents governed by German law (the “German Collateral”)
the appointment pursuant to paragraph (b) above includes the appointment as trustee (Treuhänder) under German
law and administrator for the purpose of accepting and administering the German Collateral for the benefit and account of the
other Secured Parties and the Administrative Agent hereby accepts such appointment. The Administrative Agent shall, with respect
to any security interest created under any Collateral Documents, or any other Collateral, which in each case is subject to German
law, hold, administer and, as the case may be, release and (subject to it having become enforceable) realize in its own name as
trustee (treuhänderisch) for the benefit and account of the Secured Parties, and not as trustee on behalf of any other
party.


 


(d)          Spanish
Collateral. In relation to any Collateral created under Security Documents governed by Spanish law, each of the Lenders hereby
undertake, upon request by the Administrative Agent, to grant a power of attorney in its favor to exercise the powers contained
in this Section 10.1, which shall be notarized and legalized by affixing an apostille pursuant to The Hague Convention of
1961.


 


10.2        Rights
as a Lender.   The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity
as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender”
or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from,
lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any
kind of business with Holdings, UK Holdco, the Borrowers or any of their respective Subsidiaries or other Affiliate thereof as
if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.


 






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10.3        Exculpatory
Provisions.    The Administrative Agent or the Joint Lead Arrangers, as applicable, shall not have any duties
or obligations except those expressly set forth herein and in the other Loan Documents, and the Administrative Agent’s duties
hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent or the
Joint Lead Arrangers, as applicable:


 


(a)           shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;


 


(b)           shall
not 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 the Administrative Agent is required to exercise as directed
in writing by 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), provided that the Administrative Agent shall not be required to take any action that, in
its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document
or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor
Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any
Debtor Relief Law;


 


(c)           shall
not have any duty or responsibility to disclose, and shall not be liable for the failure to disclose, any credit or other information
concerning the business, prospects, operations, property, financial and other condition or creditworthiness of or otherwise relating
to any of the Loan Parties or any of their Affiliates that is communicated to or obtained by or in possession of the Administrative
Agent, the Joint Lead Arrangers or any of their Related Parties in any capacity, except for notices, reports and other documents
expressly required to be furnished to the Lenders by the Administrative Agent herein;


 


(d)            shall
not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall
be necessary, under the circumstances as provided in Section 11.1 and Section 9.3) or (ii) in the
absence of its own gross negligence or willful misconduct, as determined by a court of competent jurisdiction by a final and nonappealable
judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice describing
such Default is given to the Administrative Agent by a Borrower, a Lender or the applicable Issuing Lender;


 


(e)           shall
not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in
or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document
delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the
validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument
or document, or the creation, perfection or priority of any Lien purported to be created by the Security Documents, (v) the
value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in Section 5 or
elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent;


 






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(f)            shall
not 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 or Affiliated Lenders. Without limiting the generality of the foregoing,
the Administrative Agent shall not ‎(x) be obligated to ascertain, monitor or inquire
as to whether any Lender or Participant or prospective Lender or Participant is a Disqualified ‎Lender,
(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 or (z) be obligated to ascertain, monitor
or enforce any limitations in connection with any assignment to Debt Fund Affiliates and Affiliated Lenders or have any liability
with respect thereto or any matter arising thereof;


 


(g)           shall
not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value
or collectability of the Collateral, the existence, priority or perfection of the Administrative or the Collateral Agent’s
Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent or the
Collateral Agent be responsible or liable to the Lenders or any Issuing Lender for any failure to monitor or maintain any portion
of the Collateral.


 


10.4         Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet
or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated
by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed
by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance
with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that
by its terms must be fulfilled to the satisfaction of a Lender or the applicable Issuing Lender, the Administrative Agent may
presume that such condition is satisfactory to such Lender or such Issuing Lender unless the Administrative Agent shall have received
written notice to the contrary from such Lender or such Issuing Lender prior to the making of such Loan or the issuance such Letter
of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrowers), independent accountants
and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice
of any such counsel, accountants or experts. The Administrative Agent shall be fully justified in failing or refusing to take
any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required
Lenders (or such other number or percentage of Lenders as shall be provided for herein or in the other Loan Documents) as it deems
appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that
may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent shall in all cases be
fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with
a request of the Required Lenders (or such other number or percentage of Lenders as shall be provided for herein or in the other
Loan Documents), and such request and any action taken or failure to act pursuant thereto shall be binding upon the Lenders and
all future holders of the Loans.


 


10.5         Delegation
of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or
under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective
Related Parties. The exculpatory provisions of this Section 10 shall apply to any such sub-agent and to the Related
Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with
the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative
Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent
jurisdiction determines in a final and nonappealable decision that the Administrative Agent acted with gross negligence, bad faith
or willful misconduct in the selection of such sub-agents.


 






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10.6        Resignation
and Removal of Administrative Agent.


 


(a)           The
Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Lenders and the Borrowers. Upon
receipt of any such notice of resignation, the Required Lenders shall have the right, subject to the approval of the Borrower Representative,
not to be unreasonably withheld, for so long as no Specified Event of Default has occurred and is continuing, to appoint a successor,
which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.
If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required
Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated
to) on behalf of the Lenders and the Issuing Lenders, in consultation with the Borrower Representative, appoint a successor Administrative
Agent meeting the qualifications set forth above; provided that in no event shall any such successor Administrative Agent be a
Defaulting Lender. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such
notice on the Resignation Effective Date.


 


(b)           If
the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (e) of the definition thereof, the Required
Lenders may, to the extent permitted by applicable Law, by notice in writing to the Borrowers and such Person remove such Person
as Administrative Agent and, subject to the approval of the Borrower Representative, not to be unreasonably withheld, for so long
as no Specified Event of Default has occurred and is continuing, appoint a successor. If no such successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the
Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance
with such notice on the Removal Effective Date.


 


(c)           With
effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case
of any collateral security held by the Administrative Agent or the Collateral Agent on behalf of the Lenders or the Issuing Lenders
under any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until
such time as a successor Administrative Agent is appointed) and (2) except for any indemnity payments or other amounts then
owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to
or through the Administrative Agent shall instead be made by or to each Lender and the Issuing Lenders directly, until such time
as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of a successor’s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or removed) Administrative Agent (other than as provided in Section 2.19(f) and
other than any rights to indemnity payments or other amounts owed to the retiring or removed Administrative Agent as of the Resignation
Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall be discharged
from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided
above in this Section). The fees payable by the Borrowers to a successor Administrative Agent shall be the same as those payable
to its predecessor unless otherwise agreed between the Borrowers and such successor. After the retiring or removed Administrative
Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Section 10
and Section 11.5 shall continue in effect for the benefit of such retiring or removed Administrative Agent, its sub
agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them (i) while
the retiring or removed Administrative Agent was acting as Administrative Agent and (ii) after such resignation or removal
for as long as any of them continues to act in any capacity hereunder or under the other Loan Documents, including (a) acting
as collateral agent or otherwise holding any collateral security on behalf of any of the Lenders and (b) in respect of any
actions taken in connection with transferring the agency to any successor Administrative Agent.


 






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(d)           Any
resignation by Bank of America, N.A., as Administrative Agent pursuant to this Section 10.6 shall also constitute its
resignation as Swingline Lender. If Bank of America, N.A. resigns as a Swingline Lender, it shall retain all the rights of a Swingline
Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation.
Upon the appointment by the Borrower Representative of a successor Swingline Lender hereunder (which successor shall in all cases
by a Lender other than Defaulting Lender), (a) such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring Swingline Lender and (b) the retiring Swingline Lender shall be discharged from all
of their respective duties and obligations hereunder or under the other Loan Documents.


 


10.7        Non-Reliance
on Administrative Agent, the Joint Lead Arrangers and the Other Lenders. Each Lender and each Issuing Lender expressly acknowledges
that none of the Administrative Agent nor the Joint Lead Arrangers has made any representation or warranty to it, and that no
act by the Administrative Agent or the Joint Lead Arrangers 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 the Administrative Agent or the Joint Lead Arrangers to any Lender or any Issuing Lender as to any matter, including
whether the Administrative Agent or any Joint Lead Arranger has disclosed material information in its or their (or their Related
Parties’) possession. Each Lender and each Issuing Lender represents that it has, independently and without reliance upon
the Administrative Agent, any Joint Lead Arranger or any other Lender or any of their Related Parties and based on such documents
and information as it has deemed appropriate, made its own credit analysis of, appraisal of, and investigation into, the business,
prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties and their 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 Borrowers hereunder. Each Lender and each Issuing Lender also acknowledges
that it will, independently and without reliance upon the Administrative Agent, the Joint Lead Arrangers or any other Lender or
any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue
to make its own credit analysis, appraisals and decisions in taking or not taking action under or based upon this Agreement, any
other Loan Document or any related agreement or any document furnished hereunder or thereunder, 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 Loan Parties. Each Lender and each Issuing Lender represents and warrants that (i) the Loan Documents
set forth the terms of a commercial lending facility and (ii) it is engaged in making, acquiring or holding commercial loans
in the ordinary course and is entering into this Agreement as a Lender or Issuing Lender for the purpose of making, acquiring
or holding commercial loans and providing other facilities set forth herein as may be applicable to such Lender or Issuing Lender,
and not for the purpose of purchasing, acquiring or holding any other type of financial instrument, and each Lender and each Issuing
Lender agrees not to assert a claim in contravention of the foregoing. Each Lender and each Issuing Lender represents and warrants
that it is sophisticated with respect to decisions to make, acquire and/or hold commercial loans and to provide other facilities
set forth herein, as may be applicable to such Lender or such Issuing Lender, and either it, or the Person exercising discretion
in making its decision to make, acquire and/or hold such commercial loans or to provide such other facilities, is experienced
in making, acquiring or holding such commercial loans or providing such other facilities.


 






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10.8         No
Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Administrative Agent, the Collateral
Agent, Joint Bookrunner or Joint Lead Arrangers listed on the cover page hereof (each, an “Agent”)
shall (a) have any powers, obligations, duties or responsibilities under this Agreement or any of the other Loan
Documents, except in its capacity, as applicable, as the Administrative Agent, the Collateral Agent, a Lender or an Issuing
Lender hereunder or (b) be obligated to carry out on behalf of any Lender (i) any “know your customer”,
Beneficial Ownership Regulation or other checks in relation to any Person or (ii) any check on the extent to which any
transaction contemplated by this Agreement might be unlawful for any Lender or Issuing Lender, and each Lender or Issuing
Lender confirms to each Agent that it is solely responsible for any such checks it is required to carry out and that it may
not rely on any statement in relation to such checks made by any Agent.


 


10.9         Administrative
Agent May File Proofs of Claim; Credit Bidding.


 


(a)           In
case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party,
the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation 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 any Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:


 


(i)            to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
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, the Issuing Lenders, the Administrative Agent and the Collateral Agent (including any claim
for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Issuing Lenders, the Administrative Agent
and the Collateral Agent and their respective agents and counsel and all other amounts due the Lenders, the Issuing Lenders and
the Administrative Agent under Sections 2.8, 3.3 and 11.5) allowed in such judicial proceeding; and


 


(ii)            to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;


 


and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender
and each Issuing Lender to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the
making of such payments directly to the Lenders and the applicable Issuing Lender, to pay to the Administrative Agent any amount
due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel,
and any other amounts due the Administrative Agent under Sections 2.8 and 11.5.


 


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 or
any Issuing Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of
any Lender or any Issuing Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender or any Issuing
Lender or in any such proceeding.


 






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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
of the United States, including under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, 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 Section 11.1 of this Agreement), (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 cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action.


 


(b)          As
regards any judicial proceeding relating to any Spanish Loan Party and for the purposes of Article 572 of the Spanish Civil
procedural Law, the Parties expressly agree that:


 


(i)             a
statement as to any amount due to any Lender under this Agreement which is certified as being correct by the Administrative Agent
or, failing which, by the relevant Lender shall, in the absence of manifest error or unless otherwise provided under this Agreement
be prima facie evidence of the amount so due and that such amount is in fact true, net, due and payable. Such statement shall include
the balance resulting from the calculation of the debt (in Spanish: liquidación) made by the Administrative Agent
or the relevant Lender, as well as the extract of the credits and debits entries and those corresponding to the application of
interest (if any) which determine the particular balance of the amount due;


 


(ii)            the
balance of the specific ledgers in relation to the Loan Documents, opened and held by the Administrative Agent or the relevant
Lender in the relevant Spanish Loan Party's name, in accordance with the terms of the Spanish Civil Procedure Law 1/2000, in which
ledgers all amounts owed by the Spanish Loan Party shall be debited and all amounts paid by the Spanish Loan Party shall be credited,
shall be considered by the parties hereof as determining the amount of debt of the Spanish Loan Party outstanding at the time enforcement
action is taken;


 






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(iii)            the
Administrative Agent, failing which, the relevant Lender shall execute a notorial document (in Spanish: acta notarial) evidencing
that the calculation of the debt owed by the Spanish Loan Party (in Spanish: liquidación) made has been done according
to the procedure set forth in this Agreement by the Parties;


 


(iv)            prior
to commencing enforcement actions in connection with this Agreement or any Loan Document affecting a Spanish Loan Party, to the
extent permitted by law, the Administrative Agent, failing which, the relevant Lender, shall deliver a copy of the relevant statement
referred to in (iii) above to the relevant Spanish Loan Party through judicial or notarial means, which shall express the
total amount due; and


 


(v)             if
an Event of Default is continuing each Spanish Loan Party will, at the request of the Administrative Agent, enter into one or more
notarial deeds (escritura pública) in the form and substance satisfactory to the Administrative Agent and take all
other actions required by the Administrative Agent to ensure that the obligations of any Spanish Loan Party under any guarantee
entered by it are raised to the status of a Spanish notarial deed.


 


The Spanish Loan Parties
expressly authorise the Administrative Agent to request and obtain certificates and documents issued by the notary that raised
this Agreement to a notarial status (or his/her successor(s)) in order to evidence compliance of the Agreement with the entries
of her/his registry-book and the relevant entry date for the purpose of number 4 of Article 517.2, of the Spanish Civil Procedural
Law. The cost of such certificate and documents will be for the account of the Loan Parties.


 


The Spanish Loan Parties
further authorise the Administrative Agent and each Lender to request and obtain certificates evidencing the entry of this Agreement
in the Register of Transactions of the Notary authorising the same, and to obtain the approval certificate referred to in number
5 of Article 517, of the Spanish Civil Procedural Law. The cost of such certificate will be for the account of the Loan Parties.


 


10.10        Collateral
and Guaranty Matters.


 


(a)            Each
of the Secured Parties and the Issuing Lenders hereby, and by their acceptance of the benefits of the Loan Documents, irrevocably
authorize the Administrative Agent (without requirement of notice to or consent of any Secured Party except as expressly required
by Section 11.1): (i) to release or confirm the release of any Lien on any property granted to or held by the
Administrative Agent or Collateral Agent under any Loan Document (1) at the time the property subject to such Lien is Disposed
of or to be Disposed of as part of or in connection with any Disposition permitted hereunder or under any other Loan Document to
any Person other than a Loan Party, (2) subject to Section 11.1, if the release of such Lien is approved, authorized
or ratified in writing by the Required Lenders, (3) if the property subject to such Lien is owned by a Guarantor, upon release
of such Guarantor from its obligations under the Guarantee or (4) that constitutes Excluded Assets or any property that is
excluded from the Collateral pursuant to the Agreed Security Principles; (ii) to release or subordinate, as expressly permitted
hereunder, 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 this Agreement to the extent required by the holder of, or pursuant
to the terms of any agreement governing, the obligations secured by such Liens; (iii) to release any Guarantor from its obligations
under the Guarantee if such Person ceases to be a Restricted Subsidiary or becomes an Excluded Subsidiary as a result of a transaction,
circumstance or designation permitted hereunder; (iv) to amend Section 8.12 to the extent permitted by Section 8.12(f) and
to give effect to any limitations set forth in Section 8.12 in any Guarantor Joinder Agreement and/or Borrower Joinder
applicable to any Guarantor; (v) to amend any Security Document to give effect to any limitations set forth in the Agreed
Security Principles and (vi) to release any Collateral or Guarantor Obligations to the extent necessary to permit consummation
of any transaction not prohibited by any Loan Document or that has been consented to in accordance with Section 11.1.


 






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(b)            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 or confirm the release
of (pursuant to clause (a) above) any Guarantor from its obligations under the Guarantee.


 


(c)            On
the Termination Date, the Collateral shall be automatically released from the Liens created by the Security Documents, and the
Security Documents and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent
and each Group Member under the Security Documents shall automatically terminate, all without delivery of any instrument or performance
of any act by any Person.


 


(d)           If
(i) a Guarantor was released from its obligations under the Guarantee, (ii) an Additional Revolving Borrower was released
from its obligations under the Loan Documents or (iii) the Collateral was released from the assignment and security interest
granted under the Security Document (or the interest in such item subordinated), in each case in a manner not prohibited by this
Agreement or another Loan Document, the Administrative Agent will (and each Lender irrevocably authorizes the Administrative Agent
to) execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release
of such Guarantor from its obligations under the Guarantee or such Additional Revolving Borrower from its obligations under the
Loan Documents, the release of such item of Collateral from the assignment and security interest granted under the Security Documents
or to subordinate its interest in such item, in each case in accordance with the terms of the Loan Documents and this Section 10.10.


 


(e)           If
as a result of any transaction, event or circumstance not prohibited by this Agreement (i) any Guarantor or Additional Revolving
Borrower becomes an Excluded Subsidiary or (ii) any Guarantor or Additional Revolving Borrower is sold (or consolidates or
merges with a Person that is not a Loan Party), then (x) such Guarantor’s Guarantee (or the obligations of such Additional
Revolving Borrower under the Loan Documents) shall be automatically released, and (y) the Capital Stock of such Guarantor
or Additional Revolving Borrower (other than, in the case of a Guarantor or Additional Revolving Borrower that is an Excluded Subsidiary
solely by reason of being a CFC or a FSHCO, 65% of the total outstanding voting Capital Stock and 100% of the total outstanding
non-voting Capital Stock of such Guarantor or such Additional Revolving Borrower that, in each case, is directly owned by a Borrower
or another Guarantor) shall be automatically released from the security interests created by the Loan Documents, or (iii) Capital
Stock of any Subsidiary ceases to be directly owned by a Borrower or Guarantor (or a Person then required to be a Guarantor pursuant
to this Agreement or any other Loan Document), then such Capital Stock of such Subsidiary shall be automatically released from
any security interests created by the Loan Documents; provided that no Loan Party will dispose of a minority interest in
any Guarantor for the primary purpose of releasing the Guarantee made by such Guarantor under the Loan Documents as determined
by the Borrower Representative in good faith. In connection with any termination or release pursuant to this Section 10.10(e),
the Administrative Agent and any applicable Lender shall promptly execute and deliver to any Loan Party, at such Loan Party’s
expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. Any execution and
delivery of documents pursuant to this Section 10.10(e) shall be without recourse to or warranty by the Administrative
Agent or any Lender.


 






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10.11            Intercreditor
Agreements.


 


The Secured Parties
hereby, and by their acceptance of the benefits of the Loan Documents: (a) irrevocably authorize and direct each of the Administrative
Agent and the Collateral Agent, as applicable, to execute and deliver the Initial Intercreditor Agreement, (b) acknowledge
that the obligations of the Borrowers and the Guarantors under any Permitted First Priority Refinancing Debt, Permitted Second
Priority Refinancing Debt, Incremental Equivalent Debt and other Indebtedness permitted by Section 7.2 that is
secured by Permitted Liens, and with respect to which such Indebtedness and/or Liens this Agreement contemplates an intercreditor,
subordination, collateral trust or similar agreement, or that such Indebtedness shall or may be secured on a pari passu or junior
basis to the Liens securing the Obligations, may be secured by Liens on assets of the Borrowers and the Guarantors that constitute
Collateral and (c) irrevocably authorizes and directs each of the Administrative Agent and the Collateral Agent to execute
and deliver, without any further consent, authorization or other action by such Secured Party (i) any such intercreditor,
subordination, collateral trust or similar agreement (and any amendments, amendments and restatements, restatements or waivers
of, or supplements or other modifications to, any such agreement or arrangement permitted under this Agreement) constituting an
Acceptable Intercreditor Agreement and (ii) any documents, certificates or other instruments in connection therewith, and
any such intercreditor, subordination, collateral trust or similar agreement will be binding upon the Secured Parties.


 


Each of the Lenders,
the Issuing Lenders and the other Secured Parties hereby irrevocably (i) consents to the treatment of Liens to be provided
for under the Intercreditor Agreements, (ii) agrees that, upon the execution and delivery thereof, such Secured Party will
be bound by the provisions of any Intercreditor Agreement as if it were a signatory thereto and will take no actions contrary to
the provisions of any Intercreditor Agreement and (iii) authorizes and directs each of the Administrative Agent and the Collateral
Agent to carry out the provisions and intent of each such document.


 


Except as otherwise
expressly set forth herein or in any Security Document, no Qualified Counterparty or Cash Management Provider that obtains the
benefits of Section 9.5, any Guarantee or any Collateral by virtue of the provisions hereof or of any Guarantee or
any Security Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or
under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral)
other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding
any other provisions of this Section 10 to the contrary, the Administrative Agent shall not be required to verify the payment
of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Cash Management Agreements
and Hedge Agreements unless the Administrative Agent has received written notice of such Obligations, together with such supporting
documentation as the Administrative Agent may request, from the applicable Qualified Counterparty or Cash Management Provider,
as the case may be.


 


10.12            Withholding
Tax Indemnity.   To the extent required by any applicable Laws, the Administrative Agent may withhold from any
payment to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or any other authority
of the United States or other jurisdiction 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 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, within 10 days after written demand therefor, indemnify
and hold harmless the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the
Borrowers or any other Loan Party pursuant to Sections 2.16 and 2.19 and without limiting or expanding the
obligation of the Borrowers or any other Loan Party to do so) for all amounts paid, directly or indirectly, by the Administrative
Agent as Taxes or otherwise, together with all expenses incurred, including legal expenses and any other out-of-pocket expenses,
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 10.12.
The agreements in this Section 10.12 shall survive the resignation and/or replacement of the Administrative Agent,
any assignment of rights by, or the replacement of, a Lender and the repayment, satisfaction or discharge of all other Obligations.
For the avoidance of doubt, a “Lender” shall, for purposes of this Section 10.12, include any Issuing
Lender and the Swingline Lender.


 






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10.13            Indemnification.   Each
of the Lenders agrees to indemnify the Administrative Agent and the Joint Lead Arrangers (and their Related Parties) in their
respective capacities as such (to the extent not reimbursed by any Loan Party and without limiting or expanding the obligation
of the Loan Parties to do so), according to its Aggregate Exposure Percentage in effect on the date on which indemnification is
sought under this Section 10.13 (or, if indemnification is sought after the date upon which the Commitments shall
have terminated and the Loans shall have been paid in full, in accordance with its Aggregate Exposure Percentage immediately prior
to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed
on, incurred by or asserted against the Administrative Agent, the Joint Lead Arrangers or their Related Parties (the foregoing,
the “Lender Indemnitees”) in any way relating to or arising out of, the Commitments, this Agreement, any of
the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby
or thereby or any action taken or omitted by the Administrative Agent or any other Person under or in connection with any of the
foregoing; provided that no Lender shall be liable to any Lender Indemnitee for the payment of any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements to the extent that they are
found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence, bad
faith or willful misconduct of such Lender Indemnitee. The agreements in this Section 10.13 shall survive the termination
of this Agreement and the payment of the Loans and all other amounts payable hereunder.


 


10.14           Appointment
of Incremental Arrangers, Refinancing Arrangers and Loan Modification Agents.   In the event that the Borrower
Representative appoints or designates any Incremental Arranger, Refinancing Arranger or Loan Modification Agent pursuant to (and
subject to) Sections 2.25, 2.26 and 2.28, as applicable, (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 an agent or arranger with respect to the Incremental Loans, Permitted Credit Agreement Refinancing Debt or Loan Modification
Agreement, as applicable, shall be exercisable by and vest in such Incremental Arranger, Refinancing Arranger or Loan Modification
Agent to the extent, and only to the extent, necessary to enable such Incremental Arranger, Refinancing Arranger or Loan Modification
Agent to exercise such rights, powers and privileges with respect to the Incremental Loans, Permitted Credit Agreement Refinancing
Debt or Loan Modification Agreement, as applicable, and to perform such duties with respect to such Incremental Loans, Permitted
Credit Agreement Refinancing Debt or Loan Modification Agreement, as applicable, and every covenant and obligation contained in
the Loan Documents and necessary to the exercise or performance thereof by such Incremental Arranger, Refinancing Arranger or
Loan Modification Agent shall run to and be enforceable by either the Administrative Agent or such Incremental Arranger, Refinancing
Arranger or Loan Modification Agent, and (ii) the provisions of this Section 10 and of Section 11.5
(obligating the Borrower Representative to pay the Administrative Agent’s expenses and to indemnify the Administrative Agent)
that refer to the Administrative Agent shall inure to the benefit of the Administrative Agent and such Incremental Arranger, Refinancing
Arranger or Loan Modification Agent and all references therein to the Administrative Agent shall be deemed to be references to
the Administrative Agent and/or such Incremental Arranger, Refinancing Arranger or Loan Modification Agent, as the context may
require. Each Lender and Issuing Lender hereby irrevocably appoints any Incremental Arranger, Refinancing Arranger or Loan Modification
Agent to act on its behalf hereunder and under the other Loan Documents pursuant to (and subject to) Sections 2.25, 2.26
and 2.28, as applicable, and designates and authorizes such Incremental Arranger, Refinancing Arranger or Loan Modification
Agent to take such actions 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 such Incremental Arranger, Refinancing Arranger or Loan Modification
Agent by the terms of this Agreement or any other Loan Document, together with such actions and powers as are reasonably incidental
thereto.


 






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10.15            Certain
ERISA Matters.   (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 not, for the avoidance of doubt, to or for the benefit of the Borrowers 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 Loans, the
Letters of Credit, the 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 Letters of Credit, the 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 Letters of Credit, the Commitments and this Agreement, (C) the
entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the 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 Letters of Credit, the
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 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 Letters of Credit, the
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 hereto or thereto).


 






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SECTION 11.

MISCELLANEOUS


 


11.1          Amendments
and Waivers.


 


(a)            Except
as otherwise provided in clause (b) below or elsewhere in this Agreement, neither this Agreement nor any other Loan Document
(or any terms hereof or thereof) may be amended, supplemented or modified other than in accordance with the provisions of this
Section 11.1. The Required Lenders and each Loan Party party to the relevant Loan Document (or, in the case of this
Agreement, the Borrower Representative) may, or, with the written consent of the Required Lenders, the Administrative Agent and
each Loan Party party to the relevant Loan Document (or, in the case of this Agreement, the Borrower Representative) may, from
time to time, (i) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the
purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders
or of the Loan Parties hereunder or thereunder or (ii) waive, on such terms and conditions as the Required Lenders or the
Administrative Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other
Loan Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and
no such amendment, supplement or modification shall (A) forgive the principal amount or extend the final scheduled date of
maturity of any Loan, extend the scheduled date of any amortization payment in respect of any Term Loan, reduce the stated rate
of any interest or fee payable hereunder (except (x) in connection with the waiver of applicability of any post-default increase
in interest rates (which waiver shall be effective with the consent of the Required Lenders), (y) that any amendment or modification
of defined terms used in the financial covenants in this Agreement shall not constitute a reduction in the rate of interest or
fees for purposes of this clause (A) and (z) in connection with the waiver of the MFN Provision (which waiver shall be
effective with the consent of the Required Lenders)) or extend the scheduled date of any payment thereof, or increase the amount
or extend the expiration date of any Lender’s Commitment or increase such Lender’s Commitment, in each case without
the written consent of each Lender directly and adversely affected thereby; (B) amend, modify, eliminate or reduce the voting
rights of any Lender under this Section 11.1 without the written consent of all Lenders; (C) (x) reduce any
percentage specified in the definition of Required Lenders, (y) consent to the assignment or transfer by any Borrower of any
of its rights and obligations under this Agreement and the other Loan Documents and (z) release all or substantially all of
the Collateral or release all or substantially all of the value of the Guarantees under Section 8 of this Agreement
or under any Security Agreement, in each case other than as permitted under this Agreement and the Loan Documents, without the
written consent of all Lenders; (D) amend, modify or waive any provision of Section 2.17(a) or (b) which
results in a change to the pro rata application of Loans under any Facility without the written consent of each Lender directly
and adversely affected thereby in respect of each Facility adversely affected thereby, unless the amendment is made in connection
with an amendment pursuant to paragraph (b) below, in which case the written consent of the Required Lenders shall be required;
(E) reduce the percentage specified in the definition of any of Majority Revolving Lenders or Majority Term Lenders without
the written consent of all Lenders under such Facility; (F) [reserved]; (G) amend, modify or waive any provision of Sections 2.6
or 2.7 without the written consent of the Swingline Lender; (H) amend or modify the application of prepayments
set forth in Section 2.11(g) in a manner that adversely affects any Facility without the written consent of the
Majority Facility Lenders of each adversely affected Facility; (I) forgive the principal amount or extend the payment date
of any Reimbursement Obligation without the written consent of each Lender directly and adversely affected thereby; or (J) change
the currency in which any Loan is denominated without the written consent of each Lender holding such Loan; and provided further
that no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders
required above, amend, waive or modify Section 10 in a manner that adversely affects the rights or duties of the Administrative
Agent under this Agreement; and provided further that no amendment, waiver or consent shall, unless in writing and signed
by the applicable Issuing Lender in addition to the Lenders required above, adversely affect its rights or duties under this Agreement
or under any Application or other document, agreement or instrument entered into by such Issuing Lender and a Borrower (or any
Restricted Subsidiary) pertaining to one or more Letters of Credit issued or to be issued by such Issuing Lender hereunder (except
that this Agreement may be amended (A) to adjust the mechanics related to the issuance of Letters of Credit, including mechanical
changes relating to the existence of multiple Issuing Lenders, with only the written consent of the Administrative Agent, the applicable
Issuing Lender and the Borrower Representative if the obligations of the Revolving Lenders, if any, who have not executed such
amendment, and if applicable the other Issuing Lenders, if any, who have not executed such amendment, are not adversely affected
thereby and (B) to adjust the L/C Sublimits of one or more Issuing Lenders after consultation with the Administrative Agent
and any affected Issuing Lenders in a manner which does not result in the aggregate L/C Sublimits exceeding the L/C Commitment
with only the written consent (with a copy to the Administrative Agent and any affected Issuing Lenders) of the Borrower Representative
or those Issuing Lenders whose L/C Sublimits may be increased). Any such waiver and any such amendment, supplement or modification
shall apply equally to each of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Administrative Agent and
all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Administrative Agent shall be
restored to their former position and rights hereunder and under the other Loan Documents, and any Default or Event of Default
waived shall be deemed to be cured and not continuing during the period such waiver is effective; but no such waiver shall, unless
it expressly so permits, extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon.


 






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(b)            Notwithstanding
anything in this Agreement (including clause (a) above) or any other Loan Document to the contrary:


 


(i)            this
Agreement may be amended (or amended and restated) with the written consent of the Administrative Agent, the Issuing Lenders (to
the extent affected), each Lender participating in the additional or extended credit facilities contemplated under this paragraph
(b)(i) and the Borrower Representative (w) to add one or more additional credit facilities to this Agreement or to increase
the amount of the existing facilities under 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 and Revolving Extensions of Credit and the accrued interest and fees in respect thereof, (x) to
permit any such additional credit facility which is a term loan facility or any such increase in the Term Facility to share in
prepayments with the Term Loans, (y) to permit any such additional credit facility which is a revolving loan facility or any
such increase in the Revolving Facility to share ratably in prepayments with the Revolving Facility and (z) to include appropriately
the Lenders holding such credit facilities in any determination of the Required Lenders and Majority Facility Lenders;


 


(ii)            this
Agreement may be amended with the written consent of the Administrative Agent, the Borrower Representative and the Lenders providing
the relevant Repriced Term Loans (as defined below) to permit a (x) any prepayment, repayment, refinancing, substitution or
replacement of all or a portion of the Term Loans with the proceeds of, or any conversion of Term Loans into, any new or replacement
tranche of syndicated term loans bearing interest with an Effective Yield less than the Effective Yield applicable to the Term
Loans and (y) any amendment to the Term Loans or any tranche thereof which reduces the Effective Yield applicable to such
Term Loans, as applicable (“Repriced Term Loans”); provided that the Repriced Term Loans shall otherwise
meet the Applicable Requirements;


 






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(iii)            this
Agreement may be amended with the written consent of the Administrative Agent, the Borrower Representative and the Lenders providing
the relevant Repricing Indebtedness to permit any Repricing Transaction;


 


(iv)           this
Agreement and the other Loan Documents may be amended or amended and restated as contemplated by Section 2.25 in connection
with any Incremental Amendment and any related increase in Commitments or Loans, with the consent of the Borrower Representative,
the Administrative Agent and the Incremental Lenders providing such increased Commitments or Loans (provided that, if any
Incremental Term Loans are intended to have rights to share in the Collateral on a second lien basis to the Obligations, then the
Administrative Agent may enter into an Acceptable Intercreditor Agreement (or amend, supplement or modify an Acceptable Intercreditor
Agreement) as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent, to effect the terms of any
such Incremental Term Loans);


 


(v)            this
Agreement and the other Loan Documents may be amended as a Refinancing Amendment in connection with the incurrence of any Permitted
Credit Agreement Refinancing Debt pursuant to Section 2.26 to the extent (but only to the extent) necessary to reflect
the existence and terms of such Permitted Credit Agreement Refinancing Debt (including any amendments necessary to treat the Loans
and Commitments subject thereto as Other Term Loans, Other Revolving Loans, Other Revolving Commitments and/or Other Term Commitments)
(provided that the Administrative Agent and the Borrower Representative may effect such amendments to this Agreement, any
Acceptable Intercreditor Agreement (or enter into a replacement thereof) and the other Loan Documents as may be necessary or appropriate,
in the reasonable opinion of the Administrative Agent and the Borrower Representative, to effect the terms of such Refinancing
Amendment);


 


(vi)           this
Agreement and the other Loan Documents may be amended in connection with any Permitted Amendment pursuant to a Loan Modification
Offer in accordance with Section 2.28(b) (and the Administrative Agent and the Borrower Representative may effect
such amendments to this Agreement, any Intercreditor Agreement (or enter into a replacement thereof) and the other Loan Documents
as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower Representative, to effect
the terms of such Permitted Amendment);


 


(vii)          the
Administrative Agent may enter into or amend any Acceptable Intercreditor Agreement or any other intercreditor agreement (or enter
into a replacement thereof), additional Security Documents and/or replacement Security Documents (including a collateral trust
agreement) in connection with the incurrence of (x) any Permitted First Priority Refinancing Debt to provide that a Senior
Representative acting on behalf of the holders of such Indebtedness shall become a party thereto and shall have rights to share
in the Collateral on a pari passu basis (but without regard to the control of remedies) with the Obligations, (y) any
Permitted Second Priority Refinancing Debt to provide that a Senior Representative acting on behalf of the holders of such Indebtedness
shall become a party thereto and shall have rights to share in the Collateral on a second lien basis to the Obligations and the
obligations in respect of any Permitted First Priority Refinancing Debt or (z) any Indebtedness described in Section 10.11
to provide that an agent, trustee or other representative acting on behalf of the holders of such Indebtedness shall become a party
thereto and shall have rights to share in the Collateral on the basis contemplated by this Agreement;


 






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(viii)          only
the consent of the Majority Revolving Lenders shall be necessary to amend, modify or waive Sections 5.2 (with respect to
the making of Revolving Loans or Swingline Loans or the issuance of Letters of Credit), 7.1, 9.1(d), 9.3(b) and
9.4; it being understood and agreed that any Default or Event of Default resulting from the inaccuracy of any representation
or warranty made in connection with the making of Revolving Loans or Swingline Loans or the issuance of Letters of Credit may be
waived with the consent of only the Majority Revolving Lenders;


 


(ix)            amendments
and waivers of this Agreement and the other Loan Documents that affect solely the Lenders under any applicable Class under
the Term Facility, Revolving Facility or any Incremental Facility (including waiver or modification of conditions to extensions
of credit under the Term Facility, Revolving Facility or any Incremental Facility, the availability and conditions to funding of
any Incremental Facility, pricing and other modifications, and in respect of the Revolving Facility, the obligations of Holdings
contained in Section 7.1 (or the definition of First Lien Net Leverage Ratio for purposes thereof)) will require only
the consent of Lenders holding more than 50% of the aggregate commitments or loans, as applicable, under such Class, and, in each
case, (x) no other consents or approvals shall be required and (y) any fees or other consideration payable to obtain
such amendments or waivers need only be offered on a pro rata basis to the Lenders under the affected Class;


 


(x)            this
Agreement and the other Loan Documents may be amended with the consent of the Administrative Agent and the Borrower Representative
(A) (1) to the extent permitted by Section 8.12(f) or to give effect to any limitations set forth in
the Agreed Security Principles and (2) to add, amend, remove or otherwise modify, in connection with the designation or appointment
of any Borrower hereunder after the Closing Date organized under the laws of any Applicable Jurisdiction other than the United
States, England & Wales and Luxembourg, the provisions hereof and thereof that relate to Taxes, foreign guarantee and
collateral matters (including guarantee limitations and “parallel debt”) and any other provisions that pertain specifically
to the laws of any such jurisdiction or as are reasonably necessary in connection with such designation or appointment and upon
the advice of counsel, (B) to correct any mistakes or ambiguities of a technical nature (or to conform any other Loan Document
to be consistent with the requirements of the Credit Agreement), (C) to add any terms or conditions for the benefit of Lenders
(or any Class thereof) and (D) as contemplated by Sections 1.6, 1.8, 2.16(b), 7.10, 10.10,
10.11, the definition of “Applicable Requirements”, “GAAP”, “Permitted Refinancing Requirements”
or to give effect to any other provision specifying that any change, waiver or modification may be made with the consent or approval
of the Administrative Agent;


 






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(xi)            (1) in
connection with any determination as to whether the requisite Lenders have (A) consented (or not consented) to any amendment
or waiver of any provision of this Agreement or any other Loan Document or any departure by any Loan Party therefrom, (B) otherwise
acted on any matter related to any Loan Document or (C) 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, any Lender (other than (x) any
Lender that is a Regulated Bank and (y) any Revolving Lender) that, as a result of its interest in any total return swap,
total rate of return swap, credit default swap or other derivative contract (other than any such total return swap, total rate
of return swap, credit default swap or other derivative contract entered into pursuant to bona fide market making activities or
bona fide hedging activities), has a net short position with respect to the Loans and/or Commitments on the date, if any, that
such Lender consents to such amendment or waiver, otherwise acts, or directs or requires the Administrative Agent or any Lender
to undertake any such action (or refrain from taking any such action) (each, a “Net Short Lender”), shall have
no right to vote any of its Loans and Commitments and shall be deemed to have voted its interest as a Lender without discretion
in the same proportion as the allocation of voting with respect to such matter by Lenders who are not Net Short Lenders (in each
case unless otherwise agreed to by the Borrower Representative). For purposes of determining whether a Lender has a “net
short position” on any date of determination: (i) derivative contracts with respect to the Loans, Commitments and such
contracts that are the functional equivalent thereof shall be counted at the notional amount thereof in Dollars, (ii) notional
amounts in other currencies shall be converted to the dollar equivalent thereof by such Lender in a commercially reasonable manner
consistent with generally accepted financial practices and based on the prevailing conversion rate (determined on a mid-market
basis) on the date of determination, (iii) derivative contracts in respect of an index that includes any of the Borrowers
or any other Loan Party or any instrument issued or guaranteed by any of the Borrowers or any other Loan Party shall not be deemed
to create a short position with respect to the Loans and/or Commitments, so long as (x) such index is not created, designed,
administered or requested by such Lender and (y) the Borrowers and other Loan Parties and any instrument issued or guaranteed
by any of the Borrowers or any other Loan Party, collectively, shall represent less than 5% of the components of such index, (iv) derivative
transactions that are documented using either the 2014 ISDA Credit Derivatives Definitions or the 2003 ISDA Credit Derivatives
Definitions (collectively, the “ISDA CDS Definitions”) shall be deemed to create a short position with respect
to the Loans and/or Commitments if such Lender is a protection buyer or the equivalent thereof for such derivative transaction
and (x) the Loans and/or the Commitments of any of the Borrowers or any other Loan Party are a “Reference Obligation”
under the terms of such derivative transaction (whether specified by name in the related documentation, included as a “Standard
Reference Obligation” on the most recent list published by Markit, if “Standard Reference Obligation” is specified
as applicable in the relevant documentation or in any other manner), (y) the Loans and/or the Commitments of any of the Borrowers
or any other Loan Party would be a “Deliverable Obligation” under the terms of such derivative transaction or (z) any
of the Borrowers or any other Loan Party (or any of their respective successors) is designated as a “Reference Entity”
under the terms of such derivative transactions, (v) credit derivative transactions or other derivatives transactions not
documented using the ISDA CDS Definitions shall be deemed to create a short position with respect to the Loans and/or Commitments
if such transactions are functionally equivalent to a transaction that offers the Lender protection in respect of the Loans, the
Commitments or as to the credit quality of any of the Borrowers or any other Loan Party (or any of their respective successors)
other than, in each case, as part of an index so long as (x) such index is not created, designed, administered or requested
by such Lender and (y) the Borrowers and other Loan Parties and any instrument issued or guaranteed by any of the Borrowers
or any other Loan Party, collectively, shall represent less than 5% of the components of such index. In connection with any such
determination, each Lender (other than (x) a Lender that is a Regulated Bank and (y) any Revolving Lender) shall promptly
notify the Administrative Agent in writing that it is a Net Short Lender, or shall otherwise be deemed to have represented and
warranted to the Borrower Representative and the Administrative Agent that it is not a Net Short Lender (it being understood and
agreed that the Borrower Representative and the Administrative Agent shall be entitled to rely on each such representation and
deemed representation).


 


(2)            The
Administrative Agent shall not 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 Net Short Lenders. Without limiting the generality of the foregoing,
the Administrative Agent shall not ‎(x) be obligated to ascertain, monitor or inquire
as to whether any Lender is a Net Short ‎Lender or (y) have any liability with respect
to or arising out of the voting in any amendment or waiver to any Loan Documents by any Net Short Lender.


 






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11.2            Notices.   All
notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile
or email, if applicable), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when
delivered, or three Business Days after being deposited in the mail, postage prepaid, or, in the case of facsimile or email notice,
when received, addressed as follows in the case of the Borrower Representative, any Borrower, the Guarantors and the Administrative
Agent, and as set forth in an administrative questionnaire delivered to the Administrative Agent in the case of the Lenders, or
to such other address as may be hereafter notified by the respective parties hereto:


 


	To the Borrower 

Representative:	Camelot U.S. Acquisition 1 Co. 1500 Spring Garden, 4th Floor Philadelphia, PA 19130 Attention: Legal Department Phone: 215-386-0100
	 	 
	To any Borrower or Guarantor:	c/o the Borrower Representative at the address set forth above
	 	 
	To the Administrative Agent

 and Collateral Agent:	As set forth on Schedule 11.2.



 


provided, that any notice, request
or demand to or upon the Administrative Agent or the Lenders shall not be effective until received. In no event shall a voice mail
message be effective as a notice, communication or confirmation hereunder. 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.


 


Notices and other communications
to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by the Administrative
Agent; provided that the foregoing shall not apply to notices pursuant to Section 2 unless otherwise agreed
by the Administrative Agent and the applicable Lender (“Approved Electronic Communications”). The Administrative
Agent or the Borrowers 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, (a) notices and other communications sent
to an email address shall be deemed received upon the sender’s receipt of an acknowledgment from the intended recipient (such
as by the “return receipt requested” function, as available, return email or other written acknowledgment), 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 (b) notices or
communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient
at its email address as described in the foregoing clause (a) of notification that such notice or communication is available
and identifying the website address therefor.


 


Each Loan Party agrees
to assume all risk, and hold the Administrative Agent, the Joint Bookrunners and each Lender harmless from any losses, associated
with, the electronic transmission of information (including the protection of confidential information), except to the extent caused
by the gross negligence or willful misconduct of such Person.


 


THE PLATFORM IS
PROVIDED “AS IS” AND “AS AVAILABLE.” NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES WARRANTS
THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS LIABILITY
FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. 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 THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE
PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY LENDER
OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL
OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY’S OR
THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY
SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH PERSON’S
GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.


 






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Each Loan Party, the
Lenders, the Issuing Lenders, the Joint Lead Arrangers, the Joint Bookrunners and the Administrative Agent agree that the Administrative
Agent may, but shall not be obligated to, store any Approved Electronic Communications on the Platform in accordance with Administrative
Agent’s customary document retention procedures and policies.


 


Each of the Borrowers,
the Guarantors, the Administrative Agent, Issuing Lenders and Swingline Lender may change its address, facsimile 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 Representative, the Administrative
Agent, the Issuing Lenders and the Swingline Lender. In addition, each Lender agrees to notify the Administrative Agent from time
to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile
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 documents or notices
that are not made available through the “Public Side Information” portion of the Platform and that may contain Private
Lender Information.


 


11.3            No
Waiver; Cumulative Remedies.   No failure to exercise and no delay in exercising, on the part of the Administrative
Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Loan Documents 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 are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.


 


11.4            Survival
of Representations and Warranties.   All representations and warranties made hereunder, in the other Loan Documents
and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution
and delivery of this Agreement and the making of the Loans and other extensions of credit hereunder.


 






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11.5            Payment
of Expenses   The Borrowers agree upon the occurrence of the Closing Date (a) to pay or reimburse the
Joint Lead Arrangers, the Joint Bookrunners, the Issuing Lenders, the Swingline Lender, the Administrative Agent and the Collateral
Agent (without duplication) for all their reasonable and documented out-of-pocket costs and expenses incurred in connection with
the syndication of the Facilities and the development, preparation and execution of, and any amendment, supplement or modification
to, this Agreement and the other Loan Documents and any other documents prepared in connection herewith or therewith, and the
consummation and administration of the transactions contemplated hereby and thereby, including the reasonable fees and disbursements
of one primary outside counsel to the Administrative Agent, the Collateral Agent, the Issuing Lenders, the Swingline Lender, the
Joint Lead Arrangers and the Joint Bookrunners, taken as a whole, and one local counsel to the foregoing Persons, taken as a whole,
in each appropriate jurisdiction (which may include one special counsel acting in multiple jurisdictions) (and additional counsel
in the case of actual or perceived conflicts where such Person informs the Borrowers of such conflict and retains such counsel),
and filing and recording fees and expenses, with statements with respect to the foregoing to be submitted to the Borrowers on
or prior to the Closing Date (in the case of amounts to be paid on the Closing Date) and from time to time thereafter on a quarterly
basis or such other periodic basis as the Administrative Agent shall deem appropriate, (b) to pay or reimburse each Lender,
each Issuing Lender, the Swingline Lender, the Administrative Agent and the Collateral Agent for all of their reasonable and documented
out-of-pocket costs and expenses (other than allocated costs of in-house counsel) incurred in connection with the workout, restructuring,
enforcement or preservation of any rights under this Agreement, the other Loan Documents and any such other documents, including
the reasonable and documented fees and disbursements of one primary counsel to the Lenders, the Issuing Lenders, the Swingline
Lender, the Administrative Agent, the Collateral Agent, the Joint Lead Arrangers and the Joint Bookrunners, taken as a whole,
and one local counsel to the foregoing Persons, taken as a whole, in each appropriate jurisdiction (which may include one special
counsel acting in multiple jurisdictions) (and in the case of an actual or perceived conflict of interest by any of the foregoing
Persons, where such Person informs the Borrowers of such conflict and retains such counsel, additional counsel to such affected
Person), (c) to pay, indemnify, and hold each Lender, each Issuing Lender, the Swingline Lender, the Administrative Agent
and the Collateral Agent harmless from, any and all recording and filing fees that may be payable or determined to be payable
in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by,
or any amendment, supplement or modification of, or any waiver or consent under or in respect of, this Agreement, the other Loan
Documents and any such other documents, and (d) to pay, indemnify, and hold each Lender, each Issuing Lender, the Swingline
Lender, the Administrative Agent, the Collateral Agent, each Joint Lead Arranger, each Joint Bookrunner, each of their respective
Affiliates that are providing services in connection with the financing contemplated by this Agreement and each member (and successors
and assigns), officer, director, trustee, employee, agent and controlling person of the foregoing (each, an “Indemnitee”)
harmless from and against any and all other claims, liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to or arising out of or in connection with
the Transactions, the transactions contemplated hereby, any transactions connected therewith and the execution, delivery, enforcement,
performance and administration of this Agreement, the other Loan Documents and any such other documents (regardless of whether
any Indemnitee is a party hereto and regardless of whether any such matter is initiated by a third party, the Borrowers, any other
Loan Party or any other Person), including any of the foregoing relating to the use of proceeds of the Loans or the violation
of, noncompliance with or liability under, any Environmental Law relating to Holdings or any Group Member or any of the Properties
and the reasonable fees and expenses of one primary legal counsel to the Indemnitees, taken as a whole (or in the case of an actual
or perceived conflict of interest by an Indemnitee, where such Person informs the Borrowers of such conflict and retains such
counsel, additional counsel to the affected Indemnitees), and one local counsel in each appropriate jurisdiction (which may include
one special counsel acting in multiple jurisdictions) to the Indemnitees in connection with claims, actions or proceedings by
any Indemnitee against any Loan Party under any Loan Document (all the foregoing in this clause (d), collectively, the “Indemnified
Liabilities”) (but excluding any losses, liabilities, claims, damages, costs or expenses relating to the matters referred
to in Sections 2.18, 2.19 and 2.21 (which shall be the sole remedy in respect of the matters set forth therein)
(other than losses, liabilities, claims, damages, costs or expenses arising from any legal proceeding or other dispute over such
Sections)), provided that the Borrowers shall not have any obligation hereunder to any Indemnitee with respect to Indemnified
Liabilities to the extent such Indemnified Liabilities are (i) (A) found by a final and nonappealable decision of a
court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee,
(B) found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from a material breach
of the Loan Documents by such Indemnitee, (C) any dispute that does not involve an act or omission by the Borrowers, Holdings
or any of their respective Affiliates and that is brought by any Indemnitee against any other Indemnitee (other than in its capacity
as Administrative Agent, Collateral Agent, Joint Lead Arranger, Joint Bookrunner, Swingline Lender, Issuing Lender or similar
role hereunder) or (D) directly and exclusively caused, with respect to the violation of, noncompliance with or liability
under, any Environmental Law relating to any of the Properties, by the act or omissions by Persons other than the Group Members,
Loan Parties or any of their respective Subsidiaries or their respective Related Parties with respect to the applicable Property
that occur after the Administrative Agent sells the respective Property pursuant to a foreclosure or has accepted a deed in lieu
of foreclosure or (ii) settlements entered into by such person without the Borrowers’ written consent (such consent
to not be unreasonably withheld, conditioned or delayed). All amounts due under this Section 11.5 shall be payable
not later than 10 days after written demand therefor. Statements payable by the Borrowers pursuant to this Section 11.5
shall be submitted to the Borrowers at the address of the Borrowers set forth in Section 11.2, or to such other
Person or address as may be hereafter designated by the Borrowers in a written notice to the Administrative Agent. This Section 11.5
shall not apply with respect to Taxes (other than any Taxes that represent losses, claims or damages arising from any non-Tax
claim). The agreements in this Section 11.5 shall survive the termination of this Agreement and the repayment of the
Loans and all other amounts payable hereunder.


 






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11.6           Successors
and Assigns; Participations and Assignments.


 


(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 (including any affiliate of any Issuing Lender that issues any Letter of Credit), except that, other
than as expressly permitted hereunder, no Borrower may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender and the Administrative Agent (and any attempted assignment or transfer by any
Borrower without such consent shall be null and void).


 


(b)            (i)
Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more Eligible Assignees
(each, an “Assignee”) all or a portion of its rights and obligations under this Agreement (including all
or a portion of its Commitments and the Loans at the time owing to it and the Note or Notes (if any) held by it) with the
prior written consent (such consent not to be unreasonably withheld, conditioned or delayed) of:


 


		(A)	in the case of any Term Lender (other than with respect to Incremental Term Loans and Incremental
Term Commitments), any Revolving Lender or Incremental Term Lender (with respect to Incremental Term Loans and Incremental Term
Commitments), the Borrower Representative, provided that such consent shall be deemed to have been given if the Borrower
Representative has not responded within (x) 10 Business Days after notice by the Administrative Agent in respect of an assignment
under the Revolving Facility and (y) 5 Business Days after notice by the Administrative Agent in respect of an assignment
under the Term Facility, provided, further, that no consent of the Borrower Representative shall be required (x) in
the case of the Revolving Facility, for an assignment to any existing Lender under the Revolving Facility or an Affiliate of an
existing Lender under the Revolving Facility or, if a Specified Event of Default has occurred and is continuing, any other Eligible
Assignee or (y) in the case of the Term Facility, for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund
(as defined below) or, if a Specified Event of Default has occurred and is continuing, any other Eligible Assignee;



 






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		(B)	except with respect to an assignment of Term Loans to an existing Lender, an Affiliate of a Lender
or an Approved Fund, or an assignment under the Revolving Facility by any affiliate of Barclays Bank Ireland PLC to Barclays Bank
Ireland PLC, the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed); and



 


		(C)	with respect to any proposed assignment of all or a portion of any Revolving Loan or Revolving
Commitment other than an assignment under the Revolving Facility by any affiliate of Barclays Bank Ireland PLC to Barclays Bank
Ireland PLC, the Swingline Lender and each Issuing Lender.



 


(ii)            Assignments
shall be subject to the following additional conditions:


 


		(A)	except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or
an assignment of the entire remaining amount of the assigning Lender’s Commitments or Loans under any Facility, the amount
of the Commitments 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 (i) with respect
to Term Loans, $1,000,000, and (ii) with respect to Revolving Loans and Revolving Commitments, $5,000,000 (provided
that, in each case, that simultaneous assignments to or by two or more Approved Funds shall be aggregated for purposes of determining
such amount) unless the Administrative Agent and, in the case of Term Loans (other than Incremental Term Loans), Revolving Commitments
or Revolving Loans or Incremental Term Loans or Incremental Term Commitments, the Borrower Representative otherwise consents;



 






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		(B)	the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment
and Assumption via an electronic settlement system acceptable to the Administrative Agent (or, if previously agreed with the Administrative
Agent, manually), and shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which such fee may be waived
or reduced in the sole discretion of the Administrative Agent) for each assignment or group of affiliated or related assignments
(it being understood that such recordation fee shall not apply to any assignments by any of the Joint Lead Arrangers or any of
their Affiliates); and



 


		(C)	the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an administrative
questionnaire and applicable Forms.



 


This paragraph (b) shall not prohibit
any Lender from assigning all or any portion of its rights and obligations among separate Facilities on a non-pro rata basis.


 


For the purposes of
this Section 11.6, “Approved Fund” means any Person (other than a natural person (or a holding company,
investment vehicle or trust for or owned and operated by or for the primary benefit of one or more natural persons)) that is engaged
in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course and that is administered
or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers
or manages a Lender.


 


(iii)            Assignments
to Permitted Auction Purchasers. Each Lender acknowledges that each Permitted Auction Purchaser is an Eligible Assignee hereunder
and may purchase or acquire Term Loans hereunder from Lenders from time to time (x) pursuant to a Dutch Auction in accordance
with the terms of this Agreement (including Section 11.6 hereof), subject to the restrictions set forth in the definitions
of “Eligible Assignee” and “Dutch Auction” or (y) pursuant to open market purchases, in each case,
subject to the following limitations:


 


		(A)	each Permitted Auction Purchaser agrees that, notwithstanding anything herein or in any of the
other Loan Documents to the contrary, with respect to any Auction Purchase or other acquisition of Term Loans, (1) under no
circumstances, whether or not any Loan Party is subject to a bankruptcy or other insolvency proceeding, shall such Permitted Auction
Purchaser be permitted to exercise any voting rights or other privileges with respect to any Term Loans and any Term Loans that
are assigned to such Permitted Auction Purchaser shall have no voting rights or other privileges under this Agreement and the other
Loan Documents and shall not be taken into account in determining any required vote or consent and (2) such Permitted Auction
Purchaser shall not receive information provided solely to Lenders by the Administrative Agent or any Lender and shall not be permitted
to attend or participate in meetings attended solely by Lenders and the Administrative Agent and their advisors; rather, all Loans
held by any Permitted Auction Purchaser shall be automatically Cancelled immediately upon the purchase or acquisition thereof in
accordance with the terms of this Agreement (including Section 11.6 hereof);



 






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		(B)	at the time any Permitted Auction Purchaser is making purchases of Loans it shall enter into an
Assignment and Assumption Agreement;



 


		(C)	immediately upon the effectiveness of each Auction Purchase or other acquisition of Term Loans,
a Cancellation (it being understood that such Cancellation shall not constitute a voluntary repayment of Loans for purposes of
this Agreement) shall be automatically irrevocably effected with respect to all of the Loans and related Obligations subject to
such Auction Purchase, with the effect that such Loans and related Obligations shall for all purposes of this Agreement and the
other Loan Documents no longer be outstanding, and the Borrowers and the Guarantors shall no longer have any Obligations relating
thereto, it being understood that such forgiveness and cancellation shall result in the Borrowers and the Guarantors being irrevocably
and unconditionally released from all claims and liabilities relating to such Obligations which have been so cancelled and forgiven,
and the Collateral shall cease to secure any such Obligations which have been so cancelled and forgiven; and



 


		(D)	at the time of such Purchase Notice and Auction Purchase or other acquisition of Term Loans, (w) no
Event of Default shall have occurred and be continuing, (x) Holdings, the Borrowers or any of their respective Affiliates
shall not be required to make any representation that it is not in possession of material non-public information with respect to
Holdings, the Borrowers, their respective subsidiaries or their respective securities, (y) any Affiliated Lender that is a
Purchaser shall identify itself as such and (z) no proceeds of Revolving Loans shall be used to consummate the Auction Purchase.



 


Notwithstanding anything
to the contrary herein, this Section 11.6(b)(iii) shall supersede any provisions in Section 2.17 to
the contrary.


 


(iv)            Assignments
to Affiliated Lenders. Any Lender may, at any time, assign all or a portion of its rights and obligations with respect to the
Term Loans to an Affiliated Lender through (x) Dutch Auctions open to all Lenders (or all Lenders of a particular Class) on
a pro rata basis or (y) open market purchases, in each case subject to the following limitations:


 






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		(A)	notwithstanding anything in Section 11.1 or the definition of “Required Lenders”
to the contrary, for purposes of determining whether the Lenders have (1) consented to any amendment, waiver or modification
of any Loan Document (including such modifications pursuant to Section 11.1), (2) otherwise acted on any matter
related to any Loan Document, (3) 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, or (4) subject to Section 2.23, voted
on any plan of reorganization pursuant to Title 11 of the United States Code, that in either case does not require the consent
of each Lender or each affected Lender or does not adversely affect such Affiliated Lender disproportionately in any material respect
as compared to other Lenders, the Sponsors and any Non-Debt Fund Affiliate will be deemed to have voted in the same proportion
as Lenders that are not Affiliated Lenders voting on such matter; and the Sponsors and each Non-Debt Fund Affiliate each hereby
acknowledges, agrees and consents that if, for any reason, its vote to accept or reject any plan pursuant to Title 11 of the United
States Code) is not deemed to have been so voted, then such vote will be (x) deemed not to be in good faith and (y) “designated”
pursuant to Section 1126(e) of Title 11 of the United States Code such that the vote is not counted in determining whether
the applicable class has accepted or rejected such plan in accordance with Section 1126(c) of Title 11 of the United
States Code; provided that, for the avoidance of doubt, Debt Fund Affiliates shall not be subject to such limitation and
shall be entitled to vote as any other Lender; provided, further, that, notwithstanding the foregoing or anything
herein to the contrary, Debt Fund Affiliates may not in the aggregate account for more than 49.9% of the amounts set forth in the
calculation of Required Lenders and any amount in excess of 49.9% will be subject to the limitations set forth in this clause (A);



 


		(B)	the Sponsors and Non-Debt Fund Affiliates shall not receive information provided solely to Lenders
by the Administrative Agent or any Lender and shall not be permitted to attend or participate in meetings attended solely by Lenders
and the Administrative Agent and their advisors, other than the right to receive notices of Borrowings, notices of prepayments
and other administrative notices in respect of its Loans or Commitments required to be delivered to Lenders pursuant to Section 2;



 






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		(C)	at the time any Affiliated Lender is making purchases of Loans pursuant to a Dutch Auction it shall
identify itself as an Affiliated Lender and shall enter into an Assignment and Assumption Agreement;



 


		(D)	with respect to a Dutch Auction, at the time of such Purchase Notice and Auction Purchase, no Affiliated
Lender shall be required to make any representation that it is not in possession of material non-public information with respect
to Holdings, the Borrowers, their respective Subsidiaries or their respective securities; and



 


		(E)	the aggregate principal amount of all Term Loans which may be purchased by the Sponsors or any
Non-Debt Fund Affiliate through Dutch Auctions or assigned to the Sponsors or any Non-Debt Fund Affiliate through open market purchases
shall in no event exceed, as calculated at the time of the consummation of any aforementioned Purchases or assignments, 25% of
the aggregate Outstanding Amount of the Term Loans at such time.



 


Notwithstanding anything
to the contrary herein, this Section 11.6(b)(iv) shall supersede any provisions in Section 2.17 to
the contrary.


 


(v)            Subject
to acceptance and recording thereof pursuant to Section 11.6(b)(vii) below, from and after the effective date
specified in each Assignment and Assumption the Assignee thereunder shall be a party hereto 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 2.18, 2.19, 2.21 and 11.5). Any assignment or transfer by a Lender of rights or obligations
under this Agreement that does not comply with this Section 11.6(b) shall be treated for purposes of this Agreement
as a sale by such Lender of a participation in such rights and obligations if such transaction complies with the requirements of
Section 11.6(c).


 


(vi)            The
Administrative Agent, acting for this purpose as an agent of the Borrowers, shall maintain at one of its offices 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
Commitments of, and principal amount of (and any stated interest on) the Loans and L/C Obligations owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and
the Borrowers, the Administrative Agent and the Lenders may 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
shall be available for inspection by any Borrower and any Lender as to its own Commitments and amounts owing to it (and, in the
case of any Issuing Lender, as to the identity of each other Revolving Lender), at any reasonable time and from time to time upon
reasonable prior notice (but not to exceed once per calendar month), and to the extent otherwise necessary to establish that the
Commitments, Loans, L/C Obligations or other obligations under the Loan Documents are in registered form under Sections 5f.103-1(c) and
1.871-14(c) of the United States Treasury Regulations.


 






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(vii)            Upon
its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an Assignee, the Assignee’s
completed administrative questionnaire and applicable Forms (unless the Assignee shall already be a Lender hereunder), together
with (x) any processing and recordation fee and (y) any written consent to such assignment required by Section 11.6(b),
the Administrative Agent shall promptly accept such Assignment and Assumption and record the information contained therein in the
Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided
in this paragraph.


 


(viii)            If,
other than in the course of primary syndication, a Lender assigns any of its rights or obligations under this Section 11.6
and as a result of circumstances existing at the date the assignment occurs, a Loan Party would be obliged to make a payment with
respect to non-U.S. Taxes to the assignee under Section 2.19(a) or Section 2.19(f) then the assignee
is only entitled to receive payment under Section 2.19(a) or Section 2.19(f) with respect to
such non-U.S. Taxes to the same extent as the assigning Lender would have been if the assignment had not occurred.


 


(c)           (i)            Any Lender may, without the consent of the Borrowers or the Administrative Agent, sell participations to one or more banks or
other entities (other than a Disqualified Lender, natural person, a Defaulting Lender, Holdings or any Subsidiary of
Holdings) (a “Participant”) in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitments and the Loans owing to it); provided that (A) such
Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations and (C) the Borrowers, the Administrative Agent, the
Issuing Lenders 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 pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such agreement may provide that
such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that
(1) requires, subject to Section 11.1(b), the consent of each Lender directly affected thereby pursuant to
clauses (A) and (C) of Section 11.1(a) and (2) directly affects such Participant. Subject to Section 11.6(c)(ii),
the Borrowers agree that each Participant shall be entitled to the benefits of Sections 2.18, 2.19 and 2.21
(subject to the requirements of those sections) to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to Section 11.6(b). To the extent permitted by law, each Participant also shall be entitled
to the benefits of Section 11.8(b) as though it were a Lender, provided such Participant shall be
subject to Section 11.8(a) as though it were a Lender. Each Lender that sells a participation shall, acting
solely for U.S. federal income tax purposes as an agent of the Borrowers, maintain a register on which it enters the name and
address of each Participant and the commitment of, and the principal amounts (and stated interest) of, each
Participant’s interest in the Loans, L/C Obligations or other obligations under the Loan Documents (the
 “Participant Register”); provided that no Lender shall have any obligation to disclose all or any
portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a
Participant’s interest in any Commitments, Loans, L/C Obligations or its other obligations under any Loan
Document) except to the extent that the relevant parties, acting reasonably and in good faith, determine that such disclosure
is necessary to establish that such Commitment, Loan, L/C Obligation or other obligation is in registered form under Sections
5f.103-1(c) and 1.871-14(c) of the United States Treasury Regulations. Unless otherwise required by the Internal
Revenue Service (“IRS”), any disclosure required by the foregoing sentence shall be made by the relevant
Lender directly and solely to the IRS. The entries in the Participant Register shall be conclusive, and such Lender shall
treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of
this Agreement notwithstanding any notice to the contrary.


 






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(ii)            A
Participant shall not be entitled to receive any greater payment under Section 2.18 or 2.19 than the applicable
Lender would have been entitled to receive with respect to the participation sold to such Participant. No Participant shall be
entitled to the benefits of Section 2.19 unless such Participant complies with Sections 2.19(j), 2.19(k),
2.19(m) and 2.19(o).


 


(d)           Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any other central
bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge
or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee
or Assignee for such Lender as a party hereto.


 


(e)           The
Borrowers, upon receipt of written notice from the relevant Lender, agree to issue Notes to any Lender requiring Notes to facilitate
transactions of the type described in Section 11.6(d) above.


 


(f)            [Reserved].


 


(g)           Each
Lender, upon succeeding to an interest in Commitments or Loans, as the case may be, represents and warrants as of the effective
date of the applicable Assignment and Assumption that it is an Eligible Assignee.


 


(h)           In
case of assignment, transfer or novation by a Lender to a new lender or Participant, of all or any part of its rights and obligations
under this Agreement, the Lenders and the new lender or Participant shall agree that, for the purposes of Article 1278 and/or
Article 1281 of the Luxembourg Civil Code (to the extent applicable), any assignment, amendment, transfer and/or novation
of any kind permitted under, and made in accordance with the provisions of the Agreement or any agreement referred to herein to
which a Luxembourg Loan Party is a party (including any Security Document), any security created or guarantee given under the Agreement
or in relation to the Agreement shall be preserved and continue in full force and effect to the benefit of the new lender or participant.


 


(i)            Each
Spanish Loan Party hereby expressly consents to each assignment, transfer and/or novation of rights or obligations made in accordance
with this Section 11.6 (Successors and Assigns; Participations and Assignments). Each Spanish Borrower and Spanish Guarantor
also accepts and confirms, for the purposes of the Spanish Civil Code and all other purposes, that all guarantees, indemnities
and, if applicable any security interests granted by it under any Loan Document and/or Security Documents will, notwithstanding
any such assignment, transfer or novation, continue and be preserved for the benefit of the new lender and each of the other Loan
Parties in accordance with the terms of the Loan Documents, expressly waiving any right the Spanish Loan Party may have in the
future under Article 1535 of the Spanish Civil Code to any extent it may be applicable.


 


11.7         [Reserved].


 


11.8         Adjustments;
Set-off.


 


(a)            Except
to the extent that this Agreement expressly provides for or permits payments to be allocated or made to a particular Lender or
to the Lenders under a particular Facility, if any Lender (a “Benefited Lender”) shall receive any payment of
all or part of the Obligations owing to it under any Facility, or receive any collateral in respect thereof (whether voluntarily
or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 9.1(g) or
otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of
the Obligations owing to such other Lender under such Facility, such Benefited Lender shall purchase for cash from the other Lenders
under such Facility a participating interest in such portion of the Obligations owing to each such other Lender, or shall provide
such other Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefited Lender to share the
excess payment or benefits of such collateral ratably with each of the Lenders under such Facility; provided, however,
that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase
shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest.


 






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(b)           In
addition to any rights and remedies of the Lenders provided by law, each Lender shall have the right, with the prior consent of
the Administrative Agent, without prior notice to Holdings or any Borrower or any other Loan Party, any such notice being expressly
waived by Holdings and the Borrowers and each other Loan Party to the extent permitted by applicable law, upon the occurrence and
during the continuance of any Event of Default, to set off and appropriate and apply against the Obligations any and all deposits
(general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in
any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing
by such Lender or any branch or agency thereof to or for the credit or the account of Holdings or the Borrowers or any such other
Loan Party, as the case may be. Each Lender agrees promptly to notify the Borrowers and the Administrative Agent after any such
setoff and application made by such Lender, provided that the failure to give such notice shall not affect the validity
of such setoff and application.


 


11.9         [Reserved].


 


11.10       Counterparts;
Electronic Execution.


 


(a)           This
Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of
this Agreement or any document or instrument delivered in connection herewith by facsimile transmission or electronic PDF shall
be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable.
A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower Representative and the Administrative
Agent.


 


(b)           The
words “execute,” “execution,” “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 modifications, 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 or pursuant to the Records Act or any other similar state laws based on the Uniform Electronic Transactions
Act.


 






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11.11       Severability.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.


 


11.12       Integration.
This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the Joint Lead Arrangers,
the Joint Bookrunners and the Administrative Agent represent the entire agreement of the Borrowers, the Guarantors, the Administrative
Agent and the Lenders with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations
or warranties by the Administrative Agent or any Lender relative to the subject matter hereof not expressly set forth or referred
to herein or in the other Loan Documents.


 


11.13       Governing
Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.


 


11.14       Submission
To Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:


 


(a)           submits
for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which
it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of
the courts of the State of New York sitting in the borough of Manhattan in New York City, the courts of the United States for the
Southern District of New York, and appellate courts from any thereof, to the extent such courts would have subject matter
jurisdiction with respect thereto, and agrees that notwithstanding the foregoing (x) a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law and (y) legal actions or proceedings brought by the Secured Parties in connection with the exercise of rights and remedies
with respect to Collateral may be brought in other jurisdictions where such Collateral is located or such rights or remedies may
be exercised;


 


(b)           consents
that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to
the venue of any such action or proceeding in any such court and waives any right to claim that such action or proceeding was brought
in an inconvenient court and agrees not to plead or claim the same;


 


(c)           CONSENTS
TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.2. EACH FOREIGN LOAN PARTY HEREBY IRREVOCABLY APPOINTS
THE BORROWER REPRESENTATIVE AS ITS AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE SERVICE OF ANY AND ALL PROCESS WHICH MAY BE
SERVED IN ANY SUIT, ACTION OR PROCEEDING OF THE NATURE REFERRED TO IN THIS SECTION 11.14 AND THE BORROWER REPRESENTATIVE
HEREBY ACCEPTS SUCH APPOINTMENT. EACH FOREIGN LOAN PARTY AGREES THAT SUCH SERVICE (I) SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE
SERVICE OF PROCESS UPON IT IN ANY SUCH SUIT, ACTION OR PROCEEDING AND (II) SHALL, TO THE FULLEST EXTENT PERMITTED BY LAW,
BE TAKEN AND HELD TO BE VALID PERSONAL SERVICE UPON AND PERSONAL DELIVERY TO IT;


 






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(d)           agrees
that nothing herein shall affect the right to effect service of process in any other manner permitted by law or limit the right
of any Lender to bring proceedings against any Foreign Loan Party in the courts of any jurisdiction or jurisdictions; and


 


(e)           waives,
to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding arising
out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions,
any Loan or Letter of Credit or the use of the proceeds thereof, any special, exemplary, punitive or consequential damages against
any Indemnitee.


 


11.15       Acknowledgements.
Each of the Borrowers and Guarantors hereby acknowledges that:


 


(a)            it
has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents;


 


(b)            neither
the Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Borrowers or any Guarantor arising out
of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Administrative Agent
and Lenders, on one hand, and the Borrowers and each Guarantor, on the other hand, in connection herewith or therewith is solely
that of debtor and creditor; and


 


(c)            no
joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby
among the Lenders or among Holdings, the Borrowers or the Guarantors and the Lenders.


 


11.16       Acknowledgement
and Consent to Bail-In of EEA 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 EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to Write-Down
and Conversion Powers of an EEA 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 an EEA Resolution Authority to any such liabilities arising hereunder which
may be payable to it by any party hereto that is an EEA Financial Institution; and


 


(i)            the
effects of any Bail-in Action on any such liability, including, if applicable:


 


(ii)           a
reduction in full or in part or cancellation of any such liability;


 


(iii)          a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA 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 the variation of the terms of such liability in connection with the
exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority.


 






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11.17       Confidentiality.
Each of the Administrative Agent and each Lender agrees to keep confidential all non-public information provided to it by any
Loan Party, the Administrative Agent or any Lender pursuant to or in connection with this Agreement that is not designated by
the provider thereof as public information or non-confidential; provided that nothing herein shall prevent the Administrative
Agent or any Lender from disclosing any such information (a) to the Administrative Agent, the Joint Lead Arrangers, the Joint
Bookrunners, any other Lender or any Affiliate thereof, (b) subject to an agreement to comply with provisions no less restrictive
than this Section, to any actual or prospective Transferee or any direct or indirect counterparty to any Swap Agreement (or any
professional advisor to such counterparty) (other than Disqualified Lenders), (c) to its employees, officers, directors,
trustees, agents, attorneys, accountants and other professional advisors and to the employees, officers, directors, trustees,
agents, attorneys, accountants and other professional advisors of its Affiliates or of actual or prospective Transferees that,
in each case, have been advised of the provisions of this Section and have been instructed to keep such information confidential,
(d) upon the request or demand of any Governmental Authority or any self-regulatory authority having or asserting jurisdiction
over such Person (including any Governmental Authority regulating any Lender or its Affiliates), in which case, to the extent
permitted by law, you agree to inform the Borrowers promptly thereof prior to such disclosure to the extent practicable (except
with respect to any routine audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising
examination or regulatory authority), (e) in response to any order of any court or other Governmental Authority or as may
otherwise be required pursuant to any Requirement of Law, in which case, to the extent permitted by law, you agree to inform the
Borrowers promptly thereof (except with respect to any routine audit or examination conducted by bank accountants or any governmental
bank regulatory authority exercising examination or regulatory authority), (f) if requested or required to do so in connection
with any litigation or similar proceeding, in which case, to the extent permitted by law, you agree to inform the Borrowers promptly
thereof (except with respect to any audit or examination conducted by bank accountants or any governmental bank regulatory authority
exercising examination or regulatory); provided that unless specifically prohibited by applicable law, reasonable efforts
shall be made to notify the Borrowers of any such request prior to disclosure, (g) that has been publicly disclosed other
than as a result of a breach of this Section, (h) to the National Association of Insurance Commissioners or any similar organization
or any nationally recognized rating agency that requires access to information about a Lender’s investment portfolio in
connection with ratings issued with respect to such Lender; provided, such Person has been advised of the provisions of
this Section and instructed to keep such information confidential, (i) to market data collectors and service providers
to the Administrative Agent or any Lender in connection with the administration and management of the Facilities, (j) to
the extent that such information is or was received by the Administrative Agent or any Lender from a third party that is not to
the knowledge of the Administrative Agent, such Lender or any affiliates thereof subject to confidentiality obligations owing
to any Loan Party, the Sponsors or any of their respective subsidiaries or (k) in connection with the exercise of any remedy
hereunder or under any other Loan Document. In addition, the Administrative Agent 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 Administrative Agent and the Lenders in connection with the administration and management of this
Agreement, the other Loan Documents, the Commitments, and the extensions of credit hereunder. Notwithstanding anything herein
to the contrary, any party to this Agreement (and any employee, officer, representative, or other agent of any party to this Agreement)
may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transactions contemplated
by this Agreement and all materials of any kind (including opinions or other tax analyses) that are provided to it relating to
such tax treatment and tax structure. However, any such information relating to the tax treatment or tax structure is required
to be kept confidential to the extent necessary to comply with any applicable federal or state securities laws.


 






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11.18       Waivers
Of Jury Trial. EACH OF THE BORROWERS, THE GUARANTORS, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM
THEREIN.


 


11.19       USA
Patriot Act Notification. Each Lender that is subject to the Patriot Act or the Beneficial Ownership Regulation and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrowers that pursuant to the requirements of the USA
Patriot Act, it is required to obtain, verify and record information that identifies the Borrowers and each other Loan Party,
which information includes the name and address of the Borrowers and each other Loan Party and other information that will allow
such Lender or the Administrative Agent, as applicable, to identify the Borrowers and each other Loan Party in accordance with
the Patriot Act.  The Borrowers and each other Loan Party shall, promptly following a request by the Administrative Agent
or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order
to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and
regulations, including the Patriot Act and the Beneficial Ownership Regulation.


 


11.20       Maximum
Amount.


 


(a)            It
is the intention of the Borrowers and the Lenders to conform strictly to the usury and similar laws relating to interest from time
to time in force, and all agreements between the Loan Parties and their respective Subsidiaries and the Lenders, whether now existing
or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever, whether
by acceleration of maturity hereof or otherwise, shall the amount paid or agreed to be paid in the aggregate to the Lenders as
interest (whether or not designated as interest, and including any amount otherwise designated but deemed to constitute interest
by a court of competent jurisdiction) hereunder or under the other Loan Documents or in any other agreement given to secure the
Indebtedness evidenced hereby or other Obligations of the Borrowers, or in any other document evidencing, securing or pertaining
to the Indebtedness evidenced hereby, exceed the maximum amount permissible under applicable usury or such other laws (the “Maximum
Amount”). If under any circumstances whatsoever fulfillment of any provision hereof, or any of the other Loan Documents,
at the time performance of such provision shall be due, shall involve exceeding the Maximum Amount, then, ipso facto, the obligation
to be fulfilled shall be reduced to the Maximum Amount. For the purposes of calculating the actual amount of interest paid and/or
payable hereunder in respect of laws pertaining to usury or such other laws, all sums paid or agreed to be paid to the holder hereof
for the use, forbearance or detention of the Indebtedness of the Borrowers evidenced hereby, outstanding from time to time shall,
to the extent permitted by Applicable Law, be amortized, pro-rated, allocated and spread from the date of disbursement of the proceeds
of the Loans until payment in full of all of such Indebtedness, so that the actual rate of interest on account of such Indebtedness
is uniform through the term hereof. The terms and provisions of this Section 11.20(a) shall control and supersede
every other provision of all agreements between the Borrowers or any endorser of the Loans and the Lenders.


 


(b)           If
under any circumstances any Lender shall ever receive an amount which would exceed the Maximum Amount, such amount shall be deemed
a payment in reduction of the principal amount of the Loans and shall be treated as a voluntary prepayment under Section 2.10
and shall be so applied in accordance with Section 2.17 or if such excessive interest exceeds the unpaid balance of
the Loans and any other Indebtedness of the Borrowers in favor of such Lender, the excess shall be deemed to have been a payment
made by mistake and shall be refunded to the Borrowers.


 






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11.21       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, except as set forth in
Section 11.8(b), 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, unless expressly provided for herein or in any other Loan Document,
without the prior written consent of the Administrative Agent. The provisions of this Section 11.21 are for the sole
benefit of the Lenders and shall not afford any right to, or constitute a defense available to, any Loan Party.


 


11.22       No
Fiduciary Duty. Each of the Administrative Agent, the Joint Bookrunners, the Joint Lead Arrangers, each Lender and their Affiliates
(collectively, solely for purposes of this paragraph, the “Lenders”), may have economic interests that conflict
with those of the Loan Parties, their stockholders and/or their Affiliates. Each Loan Party agrees that nothing in the Loan Documents
or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between
any Lender, on the one hand, and such Loan Party, its stockholders or its Affiliates, on the other, except as otherwise explicitly
provided herein. The Loan Parties acknowledge and agree that (i) the transactions contemplated by the Loan Documents (including
the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lenders,
on the one hand, and the Loan Parties, on the other, and (ii) in connection therewith and with the process leading thereto,
(x) no Lender has assumed an advisory or fiduciary responsibility in favor of any Loan Party, its stockholders or its Affiliates
with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process
leading thereto (irrespective of whether any Lender has advised, is currently advising or will advise any Loan Party, its stockholders
or its Affiliates on other matters) or any other obligation to any Loan Party except the obligations expressly set forth in the
Loan Documents and (y) each Lender is acting solely as principal and not as the agent or fiduciary of any Loan Party, its
management, stockholders, creditors or any other Person, except as otherwise explicitly provided herein. Each Loan Party acknowledges
and agrees that it has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible
for making its own independent judgment with respect to such transactions and the process leading thereto. Each Loan Party agrees
that it will not claim that any Lender has rendered advisory services of any nature or respect, or owes a fiduciary or similar
duty to such Loan Party, in connection with such transaction or the process leading thereto.


 


11.23       [Reserved].


 


11.24       Conduct
of Business by the Lenders. No provision of this Agreement will (a) interfere with the right of any Lender to arrange
its affairs (tax or otherwise) in whatever manner it thinks fit or (b) oblige any Lender to investigate or claim any credit,
relief, remission or repayment available to it or the extent, order and manner of any claim.


 


11.25       Acknowledgment
Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for
any Swap Agreement 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). 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.


 






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SECTION 12.

CO-BORROWER ARRANGEMENTS AND BORROWER REPRESENTATIVE


 


12.1         Addition
of Additional Revolving Borrowers. From time to time on or after the Closing Date, the Borrower Representative may designate
one or more of the Restricted Subsidiaries as an “Additional Revolving Borrower” with respect to Revolving Borrowings
under this Agreement; provided that such Restricted Subsidiary designated after the Closing Date shall not become an Additional
Revolving Borrower hereunder unless and until each of the following has occurred:


 


(a)           the
Administrative Agent and the Revolving Lenders shall have received all documentation and other information that the Administrative
Agent reasonably determines to be required by Governmental Authorities under applicable “know your customer” and anti-money
laundering rules and regulations, including the Patriot Act;


 


(b)           such
Additional Revolving Borrower shall be organized in an Applicable Jurisdiction;


 


(c)           such
Additional Revolving Borrower shall have delivered to the Administrative Agent a duly authorized, executed and delivered counterpart
signature page to a Borrower Joinder and a Guarantor Joinder Agreement; provided that such Borrower Joinder and, if
necessary, such Guarantor Joinder Agreement will incorporate any provisions specific to the designated Additional Revolving Borrower’s
jurisdiction of organization and applicable Laws of such jurisdiction of organization;


 


(d)           the
Additional Revolving Borrower shall have delivered to the Administrative Agent a duly authorized, executed and delivered Security
Agreement pursuant to Section 6.9 or other security agreements executed and delivered pursuant to Section 6.9,
Section 6.11, Section 6.15 or Schedule 1.1C (as such schedule may be amended or supplemented from
time to time in accordance with the Agreed Security Principles), together with other deliverables reasonably required pursuant
to such Section as applied to such Additional Revolving Borrower (it being understood and agreed that the Administrative Agent
and the Borrower Representative may waive or modify any such requirements to the extent they deem in their mutual discretion such
changes are necessary or appropriate under the circumstances taking into account the designated Additional Revolving Borrower’s
jurisdiction of organization and applicable Laws);


 






    	 	231	 



     


    

 


(e)           the
Administrative Agent shall have received, on behalf of itself and the Lenders, an opinion of counsel (local and/or New York, depending
on the circumstances and the relevant market standard), in form and substance reasonably satisfactory to the Administrative Agent
with respect to the foregoing documents; and


 


(f)            the
Administrative Agent shall have received (i) a copy of the Organizational Documents, including all amendments thereto, of
such designated Additional Revolving Borrower, certified, if applicable, as of a recent date by the Secretary of State or similar
Governmental Authority of the jurisdiction of its organization, where applicable, and, if applicable, a certificate as to the good
standing of such designated Additional Revolving Borrower as of a recent date, from such Secretary of State or similar Governmental
Authority, and (ii) a certificate of the Secretary or Assistant Secretary (or, in lieu thereof, director(s) authorized
to sign on behalf of the designated Additional Revolving Borrower) of such designated Additional Revolving Borrower certifying
(A) that attached thereto is a true and complete copy of the Organizational Documents of such Person as in effect on the date
of the Additional Revolving Borrower Joinder, (B) that attached thereto is a true and complete copy of resolutions duly adopted
by the board of directors or shareholders (or equivalent governing body) of such Person authorizing the execution, delivery and
performance of the Loan Documents and the borrowings thereunder and that such resolutions have not been modified, rescinded or
amended and are in full force and effect, (C) that Organizational Documents of such Person have not been amended since the
date of the last amendment thereto shown on the Organizational Documents furnished pursuant to clause (i) above, and (D) as
to the incumbency and specimen signature of each officer executing any Loan Document on behalf of such Person and countersigned
by another officer as to the incumbency and specimen signature of the Secretary, Assistant Secretary or director of such Person
executing the certificate pursuant to clause (ii) above.


 


12.2         Status
of Borrowers.


 


(a)           An
Additional Revolving Borrower designated in accordance with Section 12.1 shall be a “Revolving Borrower”
and a “Borrower” under the Revolving Facility and will have the right to directly request Revolving Borrowings in accordance
with Section 2 hereof until the earlier to occur of the Revolving Termination Date or the date on which such Additional
Revolving Borrower terminates its obligations under this Agreement in accordance with Section 12.3 or the date on which
such Additional Revolving Borrower is released from its obligations under the Loan Documents in accordance with this Agreement.


 


(b)           Each
Term Borrower hereby accepts joint and several liability hereunder with respect to the Term Loans and under the other Loan Documents
in consideration of the financial accommodations with respect to the Term Loans to be provided by Lenders under this Agreement
and the other Loan Documents, for the mutual benefit, directly and indirectly, of each Term Borrower and in consideration of the
undertakings of each Term Borrower to accept joint and several liability for the Term Loans. Each Term Borrower, jointly and severally,
hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with
each other such Term Borrower, with respect to the payment of the Term Loans, it being the intention of the parties hereto that
the Term Loans shall be the joint and several obligations of the Term Borrowers without preferences or distinction among them.
If and to the extent that any of the Term Borrowers shall fail to make any payment with respect to any of the Term Loans as and
when due, then in each such event each other Term Borrower will make such payment with respect to the Term Loans.


 






    	 	232	 



     


    

 



  


(c)            For
the avoidance of doubt, each Additional Revolving Borrower shall be liable solely for its direct Revolving Borrowings and interest
and any Letter of Credit fees in respect of Letters of Credit requested by such Additional Revolving Borrower and any reimbursement
obligations to the Administrative Agent, the Swingline Lender, the Issuing Lenders and the Lenders that may arise in respect of
the foregoing, and no Additional Revolving Borrower in its capacity as such shall have any direct liability whatsoever for any
of the Obligations of the Borrowers or any other Additional Revolving Borrower. Notwithstanding the term “Additional Revolving
Borrower”, which is used for convenience only, under no circumstance shall any Additional Revolving Borrower in its capacity
as such be deemed to be jointly and severally liable for the Obligations of any other Loan Party under any Loan Document. Notwithstanding
anything to the contrary set forth in this Section 12.2(c), this Section 12.2(c) shall in no way limit
the obligations of such Additional Revolving Borrower under the Guarantee.


 


12.3         Resignation
of Additional Revolving Borrowers. An Additional Revolving Borrower may elect to terminate its eligibility to request Borrowings
and to cease to be an Additional Revolving Borrower hereunder upon the occurrence of, and such resignation shall be effective
upon, all of the following:


 


(a)            such
resigning Additional Revolving Borrower shall have paid in full in cash all of its direct Obligations under the Revolving Facility;
and


 


(b)            such
resigning Additional Revolving Borrower shall have delivered to the Administrative Agent a notice of resignation in form and substance
reasonably satisfactory to the Administrative Agent; provided, however, that such resignation shall not, to the extent
applicable, have any impact on such Person’s obligations as a Subsidiary Guarantor and such obligations, to the extent applicable,
shall continue to be effective in accordance with Section 8 of this Agreement and the other provisions and undertakings
hereunder related thereto.


 


12.4         Appointment
of Borrower Representative; Nature of Relationship. On the Closing Date, Camelot U.S. Acquisition 1 Co., a Delaware corporation,
is hereby appointed by each of the other Borrowers as its contractual representative and after the Closing Date, the Borrowers
may appoint a different or additional contractual representative, subject to the Administrative Agent’s consent (such consent
not be unreasonably withheld or delayed) (herein referred to as the “Borrower Representative”) hereunder and
under each other Loan Document, and each of the other Borrowers irrevocably authorizes the Borrower Representative to act as the
contractual representative of such Borrower with the rights and duties expressly set forth herein and in the other Loan Documents.


 


The Borrower Representative
agrees to act as such contractual representative upon the express conditions contained in this Section 12. Additionally,
the Borrowers hereby appoint the Borrower Representative as their agent to receive and direct all of the proceeds of the Loans,
at which time the Borrower Representative shall promptly disburse such Loans to the appropriate Borrower. None of the Revolving
Lenders or their respective officers, directors, agents or employees shall be liable to the Borrower Representative or any Borrower
for any action taken or omitted to be taken by the Borrower Representative or the other Borrowers pursuant to this Section 12.4.


 


12.5         Powers. The
Borrower Representative shall have and may exercise such powers under the Loan Documents as are specifically delegated to the
Borrower Representative by the terms of each thereof, together with such powers as are reasonably incidental thereto. The Borrower
Representative shall have no implied duties to the other Borrowers, or any obligation to the Lenders to take any action thereunder
except any action specifically provided by the Loan Documents to be taken by the Borrower Representative.


 






    233


     


    

 


12.6         Employment
of Agents. The Borrower Representative may execute any of its duties as the Borrower Representative hereunder and under
any other Loan Document by or through its Responsible Officers.


 


12.7         Execution
of Loan Documents. The other Borrowers hereby empower and authorize the Borrower Representative, on behalf of such Borrowers,
to execute and deliver to the Administrative Agent and the Lenders the Loan Documents and all related agreements, certificates,
documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents. Each Borrower agrees
that any action taken by the Borrower Representative or the Borrowers in accordance with the terms of this Agreement or the other
Loan Documents, and the exercise by the Borrower Representative of its powers set forth therein or herein, together with such
other powers that are reasonably incidental thereto, shall be binding upon all of the Borrowers.


 






    234


     


    




 


IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as
of the day and year first above written.


 





	 	HOLDINGS:
	 	 
	 	CAMELOT UK HOLDCO LIMITED
	 	 
	 	 
	 	By:	/s/ Stephen Hartman
	 	 	Name: Stephen Hartman
	 	 	Title:   Director










  



    235


     


    







 


	 	BORROWERS:
	 	 
	 	CAMELOT UK BIDCO LIMITED
	 	 
	 	 
	 	By:	/s/ Stephen Hartman
	 	 	Name: Stephen Hartman
	 	 	Title:   Director






 






    236


     


    

 


	 	CAMELOT U.S. ACQUISITION 1 CO.
	 	 
	 	 
	 	By:	/s/ Richard Hanks
	 	 	Name: Richard Hanks
	 	 	Title:   Chief Financial Officer






 






    237


     


    

 


	 	CAMELOT U.S. ACQUISITION 2 CO.
	 	 
	 	 
	 	By:	/s/ Richard Hanks
	 	 	Name: Richard Hanks
	 	 	Title:   Chief Financial Officer












 






    238


     


    

 


	 	CAMELOT U.S. ACQUISITION LLC
	 	 
	 	 
	 	By:	/s/ Richard Hanks
	 	 	Name: Richard Hanks
	 	 	Title:   Chief Financial Officer



 


 



    239


     


    




 


	 	CAMELOT FINANCE S.A.
	 	 
	 	 
	 	By:	/s/ Stephen Hartman
	 	 	Name: Stephen Hartman
	 	 	Title:   Director



 


 


 


	 	By:	/s/ Olga Zelenkova
	 	 	Name: Olga Zelenkova
	 	 	Title:   Director



 












    240


     


    

 


	 	GUARANTORS:

                     

                    
 ATOZDOMAINSMARKET, LLC
 CAMELOT U.S. ACQUISITION 4 CO.
 CAMELOT U.S. ACQUISITION 5 CO.
 CAMELOT U.S. ACQUISITION 6 CO.
 CAMELOT U.S. ACQUISITION 7 CO.
 CAMELOT U.S. ACQUISITION 8 CO.
 CAMELOT U.S. ACQUISITION 9 CO.
 CAMELOT U.S. ACQUISITION 10 CO.
 CAMELOT U.S. ACQUISITION 11 CO.
 CAMELOT U.S. ACQUISITION 12 CO.
 CAMELOT U.S. ACQUISITION 13 CO.
 CLARIVATE ANALYTICS (COMPUMARK) INC. 
 TRADEMARK VISION USA, LLC

	 	 
	 	 
	 	By:	/s/ Richard Hanks
	 	 	Name: Richard Hanks
	 	 	Title:   Chief Financial Officer



 


 



    241


     


    




 


	 	CLARIVATE ANALYTICS (UK) LIMITED
	 	 
	 	 
	 	By:	/s/ Stephen Hartman
	 	 	Name: Stephen Hartman
	 	 	Title:   Secretary



 






    242


     


    

 



	 	 
	 	CHURCHILL CAPITAL CORP
 CAMELOT UK HOLDCO 2 LIMITED
 CENTRE FOR MEDICINES RESEARCH INTERNATIONAL LIMITED
 CENTRE FOR INNOVATION AND REGULATORY SCIENCE LIMITED
 CLARIVATE ANALYTICS (COMPUMARK) LIMITED
 CLARIVATE ANALYTICS (INTERNATIONAL) LIMITED
 CLARIVATE ANALYTICS (IP&S) LIMITED
 KOPERNIO LIMITED
 MARKMONITOR GLOBAL SERVICES LIMITED
 MARKMONITOR INTERNATIONAL LIMITED
 MARKMONITOR LIMITED
 PUBLONS UK LIMITED






 


	 	By:	/s/ Stephen Hartman
	 	 	Name:    Stephen Hartman
	 	 	Title:      Director








 






    	 	243	 



     


    

 


	 	 

                                                         CLARIVATE ANALYTICS (US) LLC
 COLLECTIVETRUST SOLUTIONS, INC.
 DATA DOCKET INC.
 DISCOVERY LOGIC, INC.
 DNSTINATION INC.
 DOMAIN FORTRESS INC.
 EBANNERMONITOR INC.
 ENTERPRISE PROTECTION INC.
 INFORMATION VENTURES, LLC
 MARKMANAGER INC.
 MARKMONITOR (ALL-D) INC.
 MARKMONITOR CORPORATE SERVICES INC.
 MARKMONITOR EU REGISTRATIONS INC.
 MARKMONITOR INC.
 MARKMONITOR PROFESSIONAL SERVICES INC.
 MICROPATENT LLC
 MUCKYMUCK INC.
 PATENT BOUNTY INC.
 RISKSMART INC.
 TECHNOLOGY UNIVERSE COMPANY, INC.







 


	 	By:	/s/ Daryl R. Barber
	 	 	Name:    Daryl R. Barber
	 	 	Title:      Senior VP – Finance & Group Treasurer





 






    	 	244	 



     


    

 


	 	BANK OF AMERICA, N.A., as an Issuing Lender and a Lender  






 


		By:	/s/ David H. Strickert
	 		Name:   David H. Strickert
	 		Title:     Managing Director



 






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	 	BANK OF AMERICA, N.A., as Administrative Agent  






 


		By:	/s/ Henry Pennell
	 		Name:   Henry Pennell
	 		Title:     Vice President



 






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	 	CITIBANK, N.A., as a Lender and as an Issuing Lender  






 


	 	By:	/s/ Scott Slavik
	 		Name:    Scott Slavik
	 		Title:      Director



 






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	 	ROYAL BANK OF CANADA, as a Lender and as an Issuing Lender    






 


		By:	/s/ Alfonse Simone
	 		Name:    Alfonse Simone
	 		Title:      Authorized Signatory



 






    	 	248	 



     


    

 


	 	BARCLAYS BANK PLC, as a Lender and as an Issuing Lender  




 


		By:	/s/ Martin D Corrigan
	 		Name:    Martin Corrigan
	 		Title:      Vice President



 






    	 	249	 



     


    

 


	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, 

as a Lender and as an Issuing Lender  






 


		By:	/s/ William O’Daly
	 		Name:    William O’Daly
	 		Title:      Authorized Signatory



 


	 	By:	/s/ Andrew Griffin
	 	 	Name:     Andrew Griffin
	 	 	Title:       Authorized Signatory



 






    	 	250	 



     


    

 


	 	GOLDMAN SACHS BANK, as a Lender and as an Issuing Lender    






 


	 	By:	/s/ Thomas M. Manning
	 	 	Name:     Thomas M. Manning
	 	 	Title:       Authorized Signatory



 






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	 	JPMORGAN CHASE BANK, N.A., as a Lender and as an Issuing Lender    






 


	 	By:	/s/ Sarah Gang
	 	 	Name:     Sarah Gang
	 	 	Title:       Executive Director



 






    	 	252	 



     


    

 


Schedule 1.1A-1


to Credit Agreement


 


Commitments


 


Dollar Term Commitments:


 


	Lender	Amount	Percentage
	Bank of America, N.A.	$900,000,000	100%
	Total	$900,000,000	100%



 


Revolving Commitments:


 





	Lender	Amount	Percentage	Treaty passport and

scheme reference

number and

jurisdiction of tax

residence (if

applicable)	UK Non-Bank

Lender

(Yes/No)
	Bank of America, N.A.	$45,500,000	18.2%	13/B/7418/DTTP USA	No
	Citibank, N.A.	$45,500,000	18.2%	13/C/62301/DTTP USA	No
	Royal Bank of Canada	$45,000,000	18.0%	3/R/70780/DTTP Canada	No
	Goldman Sachs Bank USA	$45,000,000	18.0%	13/G/351779/DTTP USA	No
	Barclays Bank PLC	$23,000,000	9.2%	N/A	No
	Credit Suisse Ag, Cayman Islands Branch	$23,000,000	9.2%	N/A	No
	JPMorgan Chase Bank, N.A.	$23,000,000	9.2%	13/M/268710/DTTP USA	No
	Total	$250,000,000	100%	 	 







 






     


     


    




 


Schedule 1.1A-2


to Credit Agreement


 


L/C Sublimit


 


	L/C Issuer	 	L/C Sublimit	 
	Bank of America, N.A.	 	$	7,280,000	 
	Citibank, N.A.	 	$	7,280,000	 
	Royal Bank of Canada	 	$	7,200,000	 
	Goldman Sachs Bank USA	 	$	7,200,000	 
	Barclays Bank PLC	 	$	3,680,000	 
	Credit Suisse AG, Cayman Islands Branch	 	$	3,680,000	 
	JPMorgan Chase Bank, N.A.	 	$	3,680,000	 




 






     


     


    

 


Schedule 1.1B


to Credit Agreement


 


Agreed Security Principles


 


		1.	Agreed Security Principles



 


		1.1	The guarantees and security to be provided will be given in accordance with these agreed security
principles (the “Agreed Security Principles”). This Schedule addresses the manner in which the Agreed Security
Principles will impact on the guarantees and security proposed to be taken in relation to the Transactions.



 


		1.2	The Agreed Security Principles embody a recognition by all parties that there may be certain legal
and practical difficulties in obtaining effective or commercially reasonable guarantees and/or security from Group
Members in an Applicable Security Jurisdiction. In particular:



 


		(a)	general legal and statutory limitations, regulatory restrictions, financial assistance, corporate
benefit, capital maintenance, equity subordination, fraudulent preference, “interest stripping”, “controlled
foreign corporation”, transfer pricing or “thin capitalization” rules, tax restrictions, retention of title claims
and similar principles may prohibit, restrict or otherwise limit the ability of a Group Member to provide a guarantee or security
or may require that the guarantee or security be limited by an amount or otherwise. If any such limit applies, the guarantees and
security provided (or the enforceability thereof) will be limited to the maximum amount which the relevant Group Member may provide
having regard to applicable law (including any jurisprudence), provided that the relevant Group Members will use commercially reasonable
efforts to assist in demonstrating that adequate corporate benefit accrues to each Group Member that has agreed to provide a guarantee
or security, subject to paragraph (i) below;



 


		(b)	certain supervisory board, advisory board, works council, regulator or regulatory board (or equivalent),
or another external body’s or person’s consent may be required to enable a Group Member to provide a guarantee or security;
such guarantee and/or security shall not be required unless such consent has been received;



 


		(c)	a key factor in determining whether or not a guarantee or security shall be taken (and in respect
of the security, the extent of its perfection and/or registration) is the applicable time and cost (including, without limitation,
adverse effects on taxes, interest deductibility, stamp duty and notarization and registration fees) required to grant such guarantee
or security or to complete such perfection which shall not be disproportionate to the benefit to the Secured Parties of obtaining
such guarantee, security or perfection (as determined by the Borrower Representative acting reasonably in good faith in consultation
with the Administrative Agent);



 


		(d)	where a class of assets to be secured includes material and immaterial assets, where there is material
incremental cost involved in creating security over all assets owned by a Loan Party in a particular category the principle stated
at paragraph (c) above shall apply and only the material assets in that category shall be subject to security;



 


		(e)	subject to any term of any Loan Document (including for the avoidance of doubt, Section 6.9(b) of
this Agreement): no loan or other obligation under any Loan Document may be, directly or indirectly: (i) guaranteed by a CFC
or a FSHCO, or guaranteed by a subsidiary of a CFC or a FSHCO; (ii) secured by any assets of a CFC, FSHCO or a subsidiary
of a CFC or a FSHCO (including any CFC or FSHCO equity interests held directly or indirectly by a CFC or FSHCO); (iii) secured
by a pledge or other security interest in excess of 65% of the voting equity interests (and 100% of the non-voting equity interests)
of a CFC or FSHCO; or (iv) guaranteed by any subsidiary or secured by a pledge of or security interest in any subsidiary or
other asset, if, in each case, it could reasonably be expected to result in material adverse accounting, regulatory or tax consequences
as determined by the Borrower Representative, in good faith in consultation with the Administrative Agent;



 






     


     


    

 


		(f)	the maximum guaranteed or secured amount may be limited to minimize stamp duty, notarization, registration
or other applicable fees, taxes and duties where the benefit of increasing the guaranteed or secured amount is disproportionate
to the level of such fee, taxes and duties (and in any event the maximum aggregate amount payable by the Group Members in respect
of fees, costs, expenses, disbursements and VAT relating to the provision of guarantees and security shall be limited to an amount
to be agreed between the Administrative Agent and the Borrower Representative);



 


		(g)	it is acknowledged that in certain Applicable Security Jurisdictions, it may be impossible, or
impractical to create security over certain classes of assets, in which event, security will not be taken over such assets;



 


		(h)	no security will be taken over any Excluded Assets (save that a floating charge in the English
Debenture shall extend to Excluded Assets, except as otherwise expressly agreed in the English Debenture) and no perfection actions
will be required to the extent inconsistent with the Collateral and Guarantee Principles;



 


		(i)	Group Members will not be required to give guarantees or enter into security documents if it is
not within the legal capacity of the relevant Group Members or if the same would conflict with the fiduciary duties of such Group
Members’ directors, officers or employees or contravene any legal prohibition, bona fide contractual restrictions or regulatory
condition or would result in (or in a material risk of) personal or criminal liability on the part of any director, officer or
employee;



 


		(j)	the giving of a guarantee, the granting of security and/or the perfection of the security granted
will not be required if it would be unduly burdensome or restrict the ability of the relevant Group Member to conduct its operations
and business in the ordinary course as otherwise permitted by the Loan Documents;



 


		(k)	to the extent possible all security shall be given in favor of the Administrative Agent as one
set of security interests and not in favor of the Secured Parties individually (provided that “Parallel Debt”
provisions may be used where necessary and such provisions will be contained in this Agreement (or a schedule thereto) and not
the individual Security Documents), unless required by local law, provided that in such case it is reasonably practicable and customary
in the relevant jurisdiction to do so in respect of syndicated credit facilities or high yield notes offerings, as applicable;



 


		(l)	to the extent possible and unless required by applicable law, there should be no action required
to be taken in relation to the guarantees or security when any Lender assigns or transfers any of its participation to a new Lender
(and, unless explicitly agreed to the contrary in this Agreement, no Group Member shall bear or otherwise be liable for any taxes,
any notarial, registration or perfection fees or any other costs, fees or expenses that result from any assignment or transfer
by a Lender);



 






     


     


    

 


		(m)	no perfection action will be required in jurisdictions where a Guarantor is not located; provided,
that (i) to the extent Intellectual Property of a Guarantor incorporated in England and Wales is registered in the United
States or with the European Union Intellectual Property Office and such Intellectual Property is material to the business of UK
Holdco and its Restricted Subsidiaries, taken as a whole, perfection of the security interest in such Intellectual Property in
the United States or at the European Union Intellectual Property Office may be requested by the Administrative Agent; and (ii) a
notice of the security interest granted in the English Debenture over intercompany receivables will be included in the Global Intercompany
Note;



 


		(n)	the creation and perfection of security and other legal formalities will be completed following
the execution of the relevant security document and in any event within the time periods agreed by the Administrative Agent and
the Borrower Representative in the applicable Security Documents or in the Loan Documents therefore;



 


		(o)	subject to paragraph (e) above and any applicable law, in relation to security over shares,
security will only be granted over shares in wholly-owned Loan Parties and Holdings’ and UK Holdco’s first-tier, wholly-owned
subsidiaries situated in an Applicable Security Jurisdiction, in accordance with and subject to the Agreed Security Principles;



 


		(p)	no title investigations will be required and no title insurance will be required;



 


		(q)	unless granted under a global security document governed by the law of the jurisdiction of a Loan
Party or under English or New York law, all security (other than share security over a Loan Party, intra-group receivable and,
subject to the proviso in paragraph (m) above, Intellectual Property) shall be governed by the law of the jurisdiction
of incorporation of that Guarantor;



 


		(r)	guarantees and security will not be required from or over, or over the assets of, or over the shares
of, any joint venture or similar arrangement or any third party minority interest;



 


		(s)	no security (other than floating security) will be taken over fixed assets, parts, stock, moveable
plant or equipment if it would require labelling, segregation or periodic listing, specification or equivalent of such parts, stock
moveable plant or equipment;



 


		(t)	no guarantee or security shall guarantee or secure any Excluded Swap Obligations;



 


		(u)	subject to applicable law, security will where reasonably possible and practical and subject to
these Agreed Security Principles, automatically create security over future assets of the same type as those already secured;



 


		(v)	perfection will not be required in respect of (i) vehicles and other assets subject to certificates
of title or (ii) chattel paper, letter of credit rights and tort claims (in each case, except to the extent a security interest
therein can be perfected by the filing of a Uniform Commercial Code financing statement or an equivalent financing statement);
and



 


		(w)	in no event shall control agreements or perfection by control or similar arrangements be required
with respect to any assets (including deposit or securities accounts) (other than in respect of (i) certificated equity interests
otherwise required to be pledged, (ii) material intercompany notes and other promissory notes held by the Borrowers or a Guarantor
or (iii) bank accounts maintained by the Lux Borrower, in each case subject to the extent required by the relevant Security
Document and the Credit Agreement.



 






     


     


    

 


		2.	Terms of security documents



 


The following principles will
be reflected in the terms of any security taken as part of the transactions contemplated by this Agreement save to the extent otherwise
required by local law:


 


		(a)	security will not be enforceable unless an Acceleration Event (in each case, as defined in the
applicable security document) has occurred and is continuing;



 


		(b)	each security document (other than security documents which are required to be notarized in order
to be valid and/or enforceable) will, to the extent legally possible, contain a clause which records that if there is a conflict
between the security document and this Agreement then the provisions of this Agreement shall take priority over the provisions
of the security document;



 


		(c)	in the security documents there will be no repetition or extension of (or application of lower
materiality thresholds to) clauses set out in this Agreement such as representations, covenants and undertakings, those relating
to notices, cost and expenses, indemnities, tax gross up, distribution of proceeds and release of security in each case except
to the extent specifically required by local law and only to the extent these are provisions required for the creation, perfection,
priority, enforcement or maintenance of the security and are no more onerous than the terms of this Agreement;



 


		(d)	notification of receivables security to third party debtors and of security over goods held by
third parties will only be given if an Acceleration Event has occurred; provided that, in the case of any security document
entered into in respect of receivables due from other Group Members, each relevant Group Member shall be notified of the execution
of that security document in the Global Intercompany Note;



 


		(e)	the security documents should only operate to create security rather than to impose new commercial
obligations; accordingly they should not contain any additional representations, undertakings, covenants or other terms (including
title, insurance, information, notices, indemnities, tax gross up, distribution of proceeds and release of security or the payment
of costs or expenses) unless these are provisions required for the creation, perfection, priority or enforcement of the security
and, where applicable, are no more onerous than the terms of this Agreement or any Security Document dated as of the Closing Date;



 


		(f)	the Secured Parties should only be able to exercise any power of attorney, proxy or similar delegation
of authority granted to them under the security documents:



 


		(i)	if an Acceleration Event has occurred and is continuing; or



 


		(ii)	if an Event of Default has occurred and is continuing and a Loan Party has failed to comply with
a further assurance or perfection obligation (after the expiry of any applicable grace period);



 






     


     


    

 


		(g)	any rights of set-off will not be exercisable unless an Acceleration Event has occurred and is
continuing and such rights shall apply only to matured obligations due and payable to any Secured Party by a Loan Party under a
Loan Document;



 


		(h)	the provisions of each security document will not interfere materially with the operation of its
business;



 


		(i)	the security documents should not operate so as to prevent transactions which are permitted or
not otherwise prohibited under this Agreement or to require additional consents or authorizations for such transactions (subject
to these Agreed Security Principles); and



 


		(j)	the Administrative Agent will not be required to accept any security or its perfection if it is
of a type or in a jurisdiction which the Administrative Agent determines does not meet or comply with its established internal
regulations or policies or with applicable law or regulation, or which would impose liabilities on the Administrative Agent, provided
that, notwithstanding anything to the contrary in this Agreement or any Loan Document:



 


		(i)	any obligation of any Group Member to grant, enter into or perfect any security (or otherwise taken
any action in relation to any security or asset) shall be subject to the provisions of this paragraph (j); and



 


		(ii)	no event or circumstance (including any failure by any Group Member to comply with any obligation
under this Agreement or any Loan Document) arising as a direct or indirect consequence of the operation of the provisions of this
paragraph (j) shall (or shall be deemed to) directly or indirectly constitute, or result in, a breach of any representation,
warranty, undertaking or other term in the Loan Documents or a Default or an Event of Default,



 


provided that the Administrative
Agent may at any time appoint a delegate or agent to whom such security may be granted in accordance with the terms of the Credit
Agreement or the applicable Security Document.


 


		3.	Guarantees/Security



 


		(a)	Unless the Borrower Representative otherwise agrees, no guarantees or security shall be granted
by an Excluded Subsidiary for so long as it constitutes an Excluded Subsidiary. No security shall be granted over the shares in
an Excluded Subsidiary, no Excluded Subsidiary will be required to sign any security document or other Loan Document, in each case
for so long as it constitutes an Excluded Subsidiary, and no security shall be granted to the extent that these Agreed Security
Principles would require the relevant security document to be governed by the law of incorporation of any Excluded Subsidiary which
constitutes an Excluded Subsidiary as a result of its jurisdiction of incorporation.



 


		(b)	Subject to the due execution of all relevant security documents, completion of relevant perfection
formalities within statutorily prescribed time limits, payment of all registration fees and documentary taxes, any other rights
arising by operation of law, obtaining any relevant foreign legal opinions and subject to any qualifications which may be set out
in any Loan Document and any relevant legal opinions obtained and subject to the Agreed Security Principles (and the requirements
thereof), in the case of guarantees, the Secured Parties and, in the case of security, the Administrative Agent (and, where applicable,
each of the other Secured Parties) shall:



 






     


     


    

 


		(i)	receive the benefit of (A) an upstream, cross-stream and downstream guarantee from each Loan
Party and (B) security granted over material assets of each Loan Party to secure all liabilities under the Loan Documents;
and



 


		(ii)	(in the case of those security documents creating pledges or charges over shares in a Loan Party)
receive the benefit of a first priority valid charge or analogous or equivalent security in (A) all of the shares in issue
at any time in that Loan Party which are owned by another Loan Party (with such security document being governed by the laws of
the jurisdiction in which such Loan Party whose shares are being pledged is formed) and (B) all Equity Interests of each first
tier subsidiary of UK Holdco (with such security document being governed, subject to paragraph (m) of section 2 above, by
English law),



 


in each case in accordance with
the Agreed Security Principles and to the extent not constituting Excluded Assets and not otherwise excluded by the Collateral
and Guarantee Principles.


 


		(c)	The Administrative Agent and the Borrower Representative shall negotiate the form of each security
document in good faith in accordance with the terms of the Agreed Security Principles. Notwithstanding anything to the contrary,
any guarantee and security arrangements agreed by the Administrative Agent and the Borrower Representative from time to time (including
the identity and category of assets subject or not subject to security) shall be deemed to satisfy all relevant obligations of
the Group Members to provide guarantees and security in respect of the relevant facilities.



 


		4.	Bank Accounts



 


		(a)	If a Loan Party grants security over its bank accounts it shall be free to deal with those accounts
in the course of its business until an Acceleration Event has occurred and is continuing.



 


		(b)	In respect of any Loan Party incorporated in England and Wales (but excluding any Loan Party in
any other Applicable Security Jurisdiction), such Loan Party shall, at the written request of the Administrative Agent and only
following an occurrence of an Acceleration Event which is continuing, as soon as reasonably practicable serve an account notice
on the account bank with whom the account is maintained. That Loan Party shall use its commercially reasonable efforts (not involving
the payment of money or incurrence of any external expenses) to obtain an acknowledgement of that notice within 20 Business Days
of service. If the Loan Party has used its commercially reasonable efforts but has not been able to obtain acknowledgement, its
obligation to obtain acknowledgement shall cease on the expiry of the above mentioned period.



 


		(c)	In respect of any Loan Party incorporated in Luxembourg, such Loan Party shall, as soon as reasonably
practicable and no later than within 10 Business Days of the date the applicable Security Document becomes effective, serve a notice
of pledge to the account bank with whom the account is maintained. That Loan Party shall use its reasonable endeavours to obtain
an acknowledgement of that notice within 20 Business Days of service. If that Loan Party has used its reasonable endeavours but
has not been able to obtain acknowledgement, its obligation to obtain acknowledgement shall cease on the expiry of the above mentioned
period.



 






     


     


    

 


		(d)	Any security over bank accounts shall be subject to any prior security interests and any other
rights (including but not limited to set off rights) in favor of the account bank which are created either by law or in the standard
terms and conditions of the account bank. Neither the Loan Party nor the account bank shall be required to change its banking arrangements
in order to waive any prior security interests. Irrespective of whether notice of security is required for perfection, if the service
of notice would prevent the Loan Party from using a bank account in the course of its business prior to the occurrence of an Acceleration
Event, no notice of the security shall be served until an Acceleration Event has occurred and is continuing.



 


		(e)	The Loan Party shall be free to close the relevant bank account at any time without any prior consent
or notification requirement.



 


		(f)	Unless an Acceleration Event has occurred and is continuing, the Administrative Agent shall not
have discretion to refrain from applying or to hold in suspense money received from the Group Members in respect of the Group Members’
liabilities under the Loan Documents or to exercise any general rights of set-off.



 


		(g)	In no event shall control agreements or perfection by control or similar arrangements be required
with respect to bank accounts or other accounts (including deposit or securities accounts) other than with respect to the bank
accounts of the Lux Borrower to the extent required by the relevant Security Document and the Credit Agreement.



 


		5.	FIXED ASSETS



 


		(a)	If a Loan Party grants security over its fixed assets, it shall be free to deal with those assets
in the course of its business and as otherwise permitted and/or not prohibited under any Loan Document, unless an Acceleration
Event has occurred and is continuing.



 


		(b)	No notice, whether to third parties, by attaching a notice to the fixed assets or otherwise, shall
be served until an Acerbation Event has occurred and is continuing.



 


		(c)	If required under local law, Liens over fixed assets will be registered subject to the general
principles set out in this Schedule 1.1B.



 


		6.	INSURANCE POLICIES



 


If a Loan Party grants security
over its insurance policies, and if required by local law for the creation, perfection, priority or enforcement of the security
or to exclude the possibility that the debtor pays to the relevant Loan Party with discharging effect, such insurance policy will
be provided to the Administrative Agent and notice of the security will be served on the relevant insurer as soon as reasonably
practicable and no later than within a time period to be agreed (or such later period as may be agreed by the Administrative Agent
in its reasonable discretion) of the security being granted and the Loan Party shall use its commercially reasonable efforts (not
involving the payment of money or incurrence of any external expenses) to obtain an acknowledgement of that notice within a time
period to be agreed. If the Loan Party has used its commercially reasonable efforts but has not been able to obtain acknowledgment,
its obligation to obtain acknowledgement shall cease on the expiry of the above mentioned period. No security will be granted with
respect to third party liability insurance policies or insurance policies in respect of which the principal beneficiary is someone
other than a Group Member.


 






     


     


    

 


		7.	Intellectual Property



 


		(a)	A Loan Party will be required to grant security over its material intellectual property and its
rights under any licenses in respect of material intellectual property.



 


		(b)	If a Loan Party grants security over its intellectual property, it shall be free to deal with,
use, license and otherwise commercialize those assets in the course of its business (including allowing its intellectual property
to lapse if no longer material to its business) until an Acceleration Event occurs and is continuing.



 


		(c)	No security shall be granted over any intent-to-use trademark application 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 of a security interest therein would impair the validity or enforceability
of such intent-to-use trademark application under applicable law.



 


		(d)	If required under local law for the creation, perfection, priority, enforcement or maintenance
of the security and subject always to the general principles set out in these Agreed Security Principles, security over material
intellectual property will be registered under the law of that Security Document and in respect of (i) any applicable grantor
under an English law Security Document, be registered under the law of that Security Document, in a relevant office or registry
located in an Applicable Security Jurisdiction or the European Union Intellectual Property Office, and for the avoidance of doubt,
any relevant office or registry located in the Applicable Security Jurisdiction in the United States shall mean the filing of a
financing statement under Article 9 of the Uniform Commercial Code, and (ii) any applicable grantor under an United Stated
law Security Document provided such grantor is registered under the law of the United States, registered under the law of that
Security Document.



 


		8.	Intercompany Receivables



 


		(a)	If a Loan Party grants security over its intercompany receivables, it shall be free to deal with,
pay, capitalize, compromise or forgive those receivables in the course of its business if not prohibited under the terms of any
Loan Document and until an Acceleration Event has occurred and is continuing.



 


		(b)	If required by local law for the creation, perfection, priority or enforcement of the security
or to exclude the possibility that the debtor pays to the relevant Loan Party with discharging effect, notice of the security to
the relevant Loan Party will be given on the relevant borrower as soon as reasonably practicable and no later than within a time
period to be agreed (or such later period as may be agreed by the Administrative Agent in its reasonable discretion) of the security
being granted and the Loan Party shall use commercially reasonable efforts (not involving the payment of money or incurrence of
any external expenses) to obtain an acknowledgement of that notice within a time period to be agreed. If the Loan Party has used
its commercially reasonable efforts but has not been able to obtain acknowledgement, its obligation to obtain acknowledgement shall
cease on the expiry of the above mentioned period. Irrespective of whether notice of the security is required for perfection, if
the service of notice would prevent the Loan Party from dealing with an intercompany receivable in the course of its business (to
the extent that such dealing is not prohibited by the Loan Documents), no notice of security shall be served until an Acceleration
Event has occurred and, in respect of an English security interest, any notice may be incorporated in the Global Intercompany Note
or, in respect of any Luxembourg law governed Security Document over intercompany receivables, (i) a notice of pledge in respect
of existing intercompany receivables shall be delivered by the relevant Loan Party to the relevant debtor within 3 Business Days
of the date the applicable Security Document becomes effective, and the relevant Loan Party shall have the relevant debtor acknowledge
receipt within 5 Business Days of the date of service, and (ii) in respect of any future intercompany receivables, the relevant
formalities shall be carried out at the latest on the later of (a) 60 days after acquisition of such intercompany receivables,
(b) the date on which financial statements are due under this Agreement with respect to the fiscal quarter in which such intercompany
receivables are acquired or (c) on such later date the agreed between the parties to the relevant Security Document.



 






     


     


    

 


		9.	Trade Receivables



 


		(a)	If a Loan Party grants security over its trade receivables, it shall be free to deal with those
receivables in the course of its business or as otherwise permitted under any Loan Document until an Acceleration Event has occurred
and is continuing.



 


		(b)	No notice of security may be served until an Acceleration Event has occurred and is continuing.



 


		(c)	No security will be granted over any trade receivables which cannot be secured under the terms
of the relevant contract.



 


		(d)	Any list of trade receivables required under the general principles set out in the Agreed Security
Principles shall not include details of the underlying contracts unless required for the validity, perfection and/or enforceability
of such security under local law; provided that no security over such trade receivables shall be (i) granted where
the grant of such security requires the inclusion of a list of trade receivables in order to be valid and enforceable or (ii) perfected
with public filings and, in each case of (i) and (ii) above, where it would put the details of such trade receivables
or the underlying contracts at material risk of public disclosure or where disclosure of such a list would cause the relevant Guarantor
to breach any data protection obligations owed by it under applicable law.



 


		(e)	Trade receivables that are part of a “qualified receivables financing” (or equivalent)
shall not be pledged or secured. To the extent any property or assets (including trade receivables) are required to be released
from the security in connection with or pursuant to a “qualified receivables financing”, such property or assets shall
be released at the request of the Borrower Representative.



 


		10.	Shares



 


		(a)	Subject to the general principles set out in this Schedule 1.1B (including paragraph (m) of
section 2 above), the relevant Security Document will be governed by the laws of the relevant Applicable Security Jurisdiction
in which the issuer of such Equity Interests is incorporated.



 


		(b)	Where required by law, the share certificate, if any, and a stock transfer form executed in blank
(if applicable) will be provided to the Administrative Agent, and where required by law the share certificate or shareholders register
will be endorsed or written up and the endorsed share certificate or a copy of the written up register provided to the Administrative
Agent within ten Business Days (or such later date as agreed between the counsel to the Group Members and the Administrative Agent)
of (i) the date the security document creating security over shares is entered into, or, if later, (ii) the date the
relevant Loan Party receives the share certificate from the relevant government body, tax authority or other equivalent body or
authority. In respect of any Luxembourg law governed Security Document over shares, the updated shareholders register of the relevant
Loan Party over which the security is being created will be provided to the Administrative Agent on the date the security document
creating security over shares becomes effective (or such later date as the Administrative Agent may agree).



 






     


     


    

 


		(c)	In respect of share security, until an Acceleration Event has occurred and is continuing, the security
providers shall be permitted to retain and to exercise voting rights attaching to any secured shares in a manner which does not
adversely affect the validity or enforceability of the security or cause an Acceleration Event and the security providers shall
be permitted to receive and retain dividends on secured shares/pay dividends upstream on secured shares to the extent not prohibited
under the Loan Documents. After the occurrence of an Acceleration Event which is continuing, the voting rights and dividend receipt
rights may be exercised by the Administrative Agent.



 


		(d)	Unless the restriction is required by law, the constitutional documents of the company whose shares
have been charged will be amended to remove any restriction on the transfer or the registration of the transfer of the shares on
enforcement of the security granted over them.



 


		11.	Real Estate



 


A Loan Party will not be required
to grant security over its real estate.


 


		12.	RELEASE OF SECURITY



 


Any Liens over Collateral shall
be released in accordance with this Agreement.


 






     


     


    

 



 


Schedule 1.1C


to Credit Agreement


 


Foreign Security Documents


  


Foreign Security Documents to be Delivered
on the Closing Date


 








	Governing
    Law	Proposed
    Security

Agreement	Security
    Provider(s)	Assets
    Secured
	Luxembourg	First Ranking Receivables Pledge Agreement	Camelot Finance S.A.	Intercompany receivables of Camelot Finance S.A.
	Luxembourg	First Ranking Deposit Account Pledge Agreement	Camelot Finance S.A.	Deposit accounts of Camelot Finance S.A.
	Luxembourg	Share Pledge Agreement	Camelot UK Bidco Limited	Sole shareholder interests in Camelot Finance S.A.
	England and Wales	Security Assignment	
        Camelot Finance S.A.

         

        Camelot UK Bidco Limited

         
	All rights under the Loan Note Instruments
	England and Wales	First Ranking Debenture (the “English Debenture”)	
        Camelot UK Holdco Limited

         

        Camelot UK Bidco Limited

         

        Camelot UK Holdco 2 Limited

         

        Clarivate Analytics (International) Limited

         

        Centre for Innovation in Regulatory Science Limited

         

        Centre for Medicines Research International Limited

         

        Clarivate Analytics (UK) Limited

         

        MarkMonitor International Limited

         

        MarkMonitor Global Services Limited

         

        Clarivate Analytics (Compumark) Limited

         

        Clarivate Analytics (IP&S) Limited

         

        Kopernio Limited

         

        MarkMonitor Limited

         

        Publons UK Limited
	All assets


 






     


     


    




 


Schedule 1.1D


to Credit Agreement


 


Permitted Investments


 


That certain Subordinated Intercompany Note, dated as of May 13,
2019, by Camelot Holdings (Jersey) Limited, in favor of Churchill Capital Corp, in the principal amount of up to SEVENTEEN MILLION,
TWO HUNDRED FIFTY-NINE THOUSAND, TWO HUNDRED SEVENTY DOLLARS AND TWENTY-FOUR CENTS ($17,259,270.24).


 






     


     


    

 





Schedule 1.1E





to Credit Agreement


 


Permitted Liens


 


None.


 






     


     


    

 


Schedule 1.1F


to Credit Agreement


 


Existing Swap Agreements


 


Current Swaps


 


	Swap

Counterparty	 	Reference
    Number	 	Trade
    Date	 	Effective

Date	 	Termination

Date	 	 	Fixed

Rate
	 	 	 	Notional

Amount
	 	 	 	Current

Notional
	 
	BAML	 	922362672/922362680	 	3/7/2017	 	3/31/2017	 	3/31/2021	 	 	1.956	%	 	 	100,000,000.00	 	 	 	97,440,000.00	 
	Credit
    Suisse	 	External
    ID:60808722 - 5 /Risk 
  
ID:668050899.Rl	 	3/7/2017	 	3/31/2017	 	3/31/2021	 	 	1.955	%	 	 	100,000,000.00	 	 	 	97,440,000.00	 
	Barclays	 	nyk10b2b942 / 43726275 /
    35841848B / 35841847B	 	3/7/2017	 	3/31/2017	 	3/31/2021	 	 	1.955	%	 	 	100,000,000.00	 	 	 	97,440,000.00	 
	Barclays	 	tky013889b0/tky013889af/50686155	 	2/6/2018	 	2/28/2018	 	3/31/2021	 	 	2.300	%	 	 	50,000,000.00	 	 	 	49,175,328.81	 



 


Forward Starting Swaps


 


	Swap

Counterparty	 	Reference Number	 	Trade Date	 	Effective

Date	 	Termination

Date	 	 	Fixed

Rate
	 	 	 	Notional

Amount
	 
	Barclays	 	nykl leddd87 / nykl leddd84 / 61153312	 	4/9/2019	 	4/30/2021	 	9/29/2023	 	 	2.350	%	 	 	50,000,000.00	 
	Barclays	 	nykl2011208 / 36702411 B / 62580326 / nykl2011209	 	5/31/2019	 	3/31/2021	 	9/29/2023	 	 	2.100	%	 	 	100,000,000.00	 




 






     


     


    

 


Schedule 1.1G


to Credit Agreement


 


US Borrowers


 


	Entity
    Name	Entity
    Type	Jurisdiction
    of Organization
	Camelot U.S. Acquisition 1 Co.	Corporation	Delaware
	Camelot U.S. Acquisition 2 Co.	Corporation	Delaware
	Camelot U.S. Acquisition LLC	Limited liability company	Delaware



 






     


     


    




 


Schedule 1.8


to Credit Agreement


 


Foreign Guarantor Provisions


 


This Schedule
1.8 contains the Foreign Guarantor Provisions as referenced in Section 1.8 of the Credit Agreement. Terms defined in
the Credit Agreement and not otherwise defined in this Schedule 1.8 are used herein as defined
in the Credit Agreement. References to the Credit Agreement in this Schedule 1.8 shall, for
the avoidance of doubt, also be deemed to include this Schedule 1.8.


 


SECTION 1.01.     Parallel
Debt.


 


(a)            Without
prejudice to the provisions of the Credit Agreement and the Collateral Documents and for the purpose of preserving the initial
and continuing validity of the security interests in the Collateral granted and to be granted by the Loan Parties to the Collateral
Agent for the benefit of any Secured Parties and/or to the Secured Parties (or any of them), an amount equal to and in the same
currency as the Obligations from time to time due by such Loan Party in accordance with the terms and conditions of the Loan Documents,
Letters of Credit, Secured Cash Management Agreements and Secured Hedge Agreements (collectively, the “Secured Documents”)
including for the avoidance of doubt, any limitations set forth therein, shall be owing as separate and independent obligations
of such Loan Party to the Collateral Agent as creditor in its own right and not as representative of the other Secured Parties
(such payment undertaking and the obligations and liabilities which are the result thereof the “Parallel Debt”).


 


(b)            Each
Loan Party and the Collateral Agent acknowledge that (i) for this purpose the Parallel Debt constitutes undertakings, obligations
and liabilities of each Loan Party to the Collateral Agent as creditor in its own right and not as a representative under the Secured
Documents which are separate and independent from, and without prejudice to, the corresponding Obligations under the Secured Documents,
which such Loan Party has to the Secured Parties and (ii) that the Parallel Debt represents the Collateral Agent’s own
independent rights and claims to demand and receive payment of the Parallel Debt; provided that the total amount which may
become due under the Parallel Debt shall never exceed the total amount which may become due under the Secured Documents; provided,
further, that the Collateral Agent shall exercise its rights with respect to the Parallel Debt solely in accordance with
the Credit Agreement and any other Secured Document.


 


(c)            Every
payment of monies made by a Loan Party to the Collateral Agent shall (conditionally upon such payment not subsequently being avoided
or reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency, liquidation or similar laws of general
application) be in satisfaction pro tanto of the covenant by such Loan Party contained in paragraph (a) of this Section 1.01;
provided that if any such payment as is mentioned above is subsequently avoided or reduced by virtue of any provisions or
enactments relating to bankruptcy, liquidation or similar laws of general application the Collateral Agent shall be entitled to
receive the amount of such payment from such Loan Party and such Loan Party shall remain liable to perform the relevant obligation
and the relevant liability shall be deemed not to have been discharged.


 






     


     


    

 


(d)            Subject
to the provision in paragraph (c) of this Section 1.01, but notwithstanding any of the other provisions of this Section 1.01:


 


(i)            the
total amount due and payable as Parallel Debt under this Section 1.01 shall be decreased to the extent that a Loan Party shall
have paid any amounts to the Collateral Agent on behalf of the applicable Secured Parties or any of them to reduce the outstanding
principal amount of the applicable Obligations or the Collateral Agent on behalf of the applicable Secured Parties otherwise receives
any amount in payment of such Obligations; and


 


(ii)            to
the extent that a Loan Parties shall have paid any amounts to the Collateral Agent under the Parallel Debt owed to it or the Collateral
Agent shall have otherwise received monies in payment of the Parallel Debt owed to it, the total amount due and payable under the
Secured Documents shall be decreased as if said amounts were received directly in payment of the applicable Obligations.


 


(e)            In
the event of a resignation of the Collateral Agent or the appointment of a new Collateral Agent pursuant to the Credit Agreement,
the retiring or replaced Collateral Agent shall at the Loan Parties’ sole cost and expense (including legal fees) (i) assign
the Parallel Debt owed to it (but not by way of novation) and (ii) transfer any Collateral granted to it securing such Parallel
Debt, in each case to the successor Collateral Agent.


 






     


     


    

 





Schedule 3.1


to Credit Agreement


 


Existing Letters of Credit


 





	Issuing
    party	 	Entity	 	Guarantee
    / 

LC Number	 	Amount	 	 	Currency	 	 	End

    Date	 	Final


    expiration

 date	 	Evergreen	 	 	Beneficiary
	Citibank	 	Camelot UK Bidco
    Limited	 	 	69617640	 	 	19,000.00	 	 	 	USD	 	 	01/29/2020	 	01/29/2020	 	 	FALSE	 	 	NATIONAL AND UNIVERSITY
    LIBRARY IN ZAGREB
	Citibank	 	Camelot UK Bidco Limited	 	 	69610435	 	 	197,100.00	 	 	 	QAR	 	 	12/31/2020	 	01/30/2021	 	 	FALSE	 	 	Qatar Foundation (QF)
	Citibank	 	Camelot UK Bidco Limited	 	 	69610619	 	 	31,676.17	 	 	 	EUR	 	 	12/31/2020	 	01/30/2021	 	 	FALSE	 	 	EGON STOCKINGER
	Citibank	 	Camelot UK Bidco Limited	 	 	69610944	 	 	66,776.85	 	 	 	EUR	 	 	12/20/2019	 	12/20/2019	 	 	FALSE	 	 	BT GERMANY GMBH AND CO. OHG
	Citibank	 	Camelot UK Bidco Limited	 	 	5404600147/

69611362	 	 	5,122.00	 	 	 	USD	 	 	09/30/2021	 	10/02/2021	 	 	FALSE	 	 	Qatargas Operating Company
    Limited
	Citibank	 	Camelot UK Bidco Limited	 	 	69611971	 	 	115,000.00	 	 	 	USD	 	 	12/31/2019	 	12/31/2019	 	 	TRUE	 	 	One Penn Plaza LLC
	Citibank	 	Camelot UK Bidco Limited	 	 	69613306/

5219800149	 	 	8,000.00	 	 	 	EUR	 	 	12/31/2018	 	01/31/2020	 	 	TRUE	 	 	Peschke Grundstückverwaltung
    GbR
	Citibank	 	Clarivate Analytics (Belgium)
    NV	 	 	69611056	 	 	212,504.00	 	 	 	EUR	 	 	09/02/2021	 	09/02/2021	 	 	FALSE	 	 	Singel Office Antwerpen NV
	Citibank	 	Camelot UK Bidco Limited	 	 	69614875	 	 	116,063.65	 	 	 	EUR	 	 	10/02/2019	 	10/02/2021	 	 	TRUE	 	 	Fundação para
    Ciência e a Tecnologia (FCT)
	Citibank	 	Camelot UK Bidco Limited	 	 	69615639	 	 	375,000.00	 	 	 	USD	 	 	10/31/2019	 	10/31/2021	 	 	TRUE	 	 	1900 Duke Street, LP 

    C/O Grosvenor Americas
	Royal
    Bank of Canada	 	Camelot UK Bidco Limited	 	 	6545S26890	 	 	856,086.78	 	 	 	USD	 	 	12/31/2019	 	03/31/2023	 	 	FALSE	 	 	Ministry of Education CAPES/CGLOG/DGES
	Royal
    Bank of Canada	 	Camelot UK Bidco Limited	 	 	6545S26949/

 781BG61900304	 	 	62,050.00	 	 	 	SGD	 	 	04/30/2020	 	06/30/2024	 	 	TRUE	 	 	Intellectual Property Office
    of Singapore



 






     


     


    





 


Schedule 4.9


to Credit Agreement


 


Taxes


 


None.


 






    	 		 



     


    

 


Schedule 5.1(g)


to Credit Agreement


 


Local Counsel Opinions


 


 


	Jurisdiction	Firm
	1.      New York	Davis Polk & Wardwell LLP
	2.      England & Wales	Fried, Frank, Harris, Shriver & Jacobson LLP
	3.      Delaware	Morris, Nichols, Arsht & Tunnell LLP
	4.      Luxembourg	Loyens & Loeff Luxembourg S.à r.l.
	5.      Luxembourg	NautaDutilh Avocats Luxembourg S.à r.l.


 









    	 		 



     


    




 


Schedule 6.15


to Credit Agreement


 


Post-Closing Undertakings


 


		1.	Within 90 days after the Closing Date (or such longer period as the Administrative Agent may agree in its reasonable discretion),
the Borrower Representative shall deliver to the Administrative Agent customary insurance certificates and endorsements to be agreed
between the Borrower Representative and the Administrative Agent.



 


		2.	Within 30 days after the Closing Date (or such longer period as the Administrative Agent may agree in its reasonable discretion),
the Borrower Representative shall deliver to the Administrative Agent the certificate representing the pledged equity referred
to therein by Camelot UK Bidco in Information Ventures LLC accompanied by undated stock powers executed in blank in accordance
with the Security Documents.



 


		3.	Within 30 days after the Closing Date (or such longer period as the Administrative Agent may agree in its reasonable discretion),
the Borrower Representative shall deliver to the Administrative Agent any updated certificates representing pledged equity referred
to therein and accompanied by undated stock powers executed in blank in accordance with the Security Documents, in each case as
the Administrative Agent may reasonably request and only to the extent required to be delivered pursuant to the Security Documents.



 


		4.	Within 90 days after the Closing Date (or such longer period as the Administrative Agent may agree in its reasonable discretion),
the Borrower Representative shall deliver to the Administrative Agent a fully executed global intercompany note in a form as may
be reasonably agreed between the Borrower Representative and the Administrative Agent.



 






    	 		 



     


    

 


Schedule 7.2


to Credit Agreement


 


Permitted Indebtedness


 


		1.	That certain notes agreement on Schedule 1.1D hereto; and



 


		2.	the letters of credit and guarantees outstanding on the Closing Date:



 


	Issuing Party	 	Entity	 	Guarantee / LC Number	 	 	Amount	 	 	Currency	 	End Date	 	Final Expiration Date	 	Evergreen	 	Beneficiary
	Volksbank Karlsruhe	 	Clarivate Analytics (Deutschland) Gmbh	 	 	3900007905	 	 	 	1,500.00	 	 	EUR	 	N/A	 	N/A	 	TRUE	 	Autonome Provinz Bozen
	Volksbank Karlsruhe	 	Clarivate Analytics (Deutschland) Gmbh	 	 	3900007905	 	 	 	5,050.10	 	 	EUR	 	N/A	 	N/A	 	TRUE	 	Autonome Provinz Bozen
	Citibank	 	Camelot UK Bidco Limited	 	 	5870605210	 	 	 	73,279.34	 	 	AED	 	N/A	 	N/A	 	TRUE	 	TECOM Investments LLC
	Clarivate Analytics (US) LLC	 	Clarivate Analytics (US) LLC	 	 	N/A (LC 69614875)	 	 	 	12,369.13	 	 	EUR	 	01/31/2022	 	01/31/2022	 	FALSE	 	Fundação para Ciência e a Tecnologia (FCT)
	Clarivate Analytics Information Services (Beijing) Company Ltd.	 	Clarivate Analytics Information
Services (Beijing) Company Ltd.	 	 	N/A	 	 	 	20,000.00	 	 	CNY	 	Within one month after the final acceptance of the contract.	 	Within one month after the final acceptance of the contract.	 	FALSE	 	Geely Automobile Research Institute (Ningbo) Co., Ltd.
	Clarivate Analytics (US) LLC	 	Clarivate Analytics (US) LLC	 	 	N/A	 	 	 	9,638,625.00	 	 	USD	 	N/A	 	N/A	 	FALSE	 	1500 Net-Works Associates L.P.




 






    	 		 



     


    







 


Schedule 11.2


to Credit Agreement


 


ADMINISTRATIVE AGENT’S OFFICE


	 
	For payments and requests for Borrowings:
	 
	Bank of America, N.A.
	Mail Code: TX2-974-03-23
	2380 Performance Dr., Bldg. C
	Richardson, TX 75082
	Attention: Devarshi Ojha
	Telephone: (469) 201-8850
	Facsimile: (214) 290-8373
	Email: devarshi.ojha@bofa.com
	 
	USD Payment Instructions:
	ABA# 026 009 593
	New York, NY
	Account# 1366072250600
	Attn: Wire Clearing Account for Syn Loans – LIQ
	Ref: Camelot Finance S.A.
	 
	Alternative Currency Payment Instructions:
	 
	EUR Beneficiary Bank: Bank of America NT and SA (Swift ID: BOFAGB22)
	Beneficiary Account Number: GB89BOFA 1650 5095 687029
	Beneficiary: Bank of America NA
	 
	GBP Beneficiary Bank: Bank of America NT and SA (Swift ID: BOFAGB22)
	Beneficiary Account Number: GB90BOFA 1650 5095 687011
	Beneficiary: Bank of America NA
	 
	CHF Beneficiary Bank: Bank of America NA (Swift ID: BOFACH2X)
	Beneficiary Account Number: CH6308726000095687013
	Beneficiary: Bank of America NA
	 
	AUD Beneficiary Bank: Bank of America Australia (Swift ID: BOFAAUSX)
	Beneficiary Account Number: 5201 9568 7018
	Beneficiary: Bank of America NA
	 
	JPY Beneficiary Bank: Bank of America NA (Swift ID: BOFAJPJX)
	Beneficiary Account Number: 6064 9568 7013
	Beneficiary: Bank of America NA




 






    	 		 



     


    

 


	Other notices and communications to Administrative
    Agent; all notices to Collateral Agent:
	 
	Bank of America, N.A.
	Mail Code: TX2-974-03-26
	2380 Performance Dr., Bldg. C
	Richardson, TX 75082
	Attention: Henry Pennell
	Telephone: (214) 209-1226
	Facsimile: (214) 290-9448
	Email: henry.pennell@bofa.com
	 
	For notices with respect to Letters of Credit:
	 
	Trade Letters of Credit
	Bank of America, N.A.
	Trade Operations
	Mail Code: PA6-580-02-30
	1 Fleet Way
	Scranton, PA 18507
	Telephone: (570) 496-9619
	Facsimile: (800) 755-8740
	Attention: Robert J. Osiecki
	Telephone: (570) 496-9612
	Facsimile: (800) 755-8740
	Email: robert.j.osiecki@baml.com
	 
	Standby Letters of Credit
	Bank of America, N.A.
	Trade Operations
	Mail Code: PA6-580-02-30
	1 Fleet Way
	Scranton, PA 18507
	Telephone: (570) 496-9619
	Facsimile: (800) 755-8740
	Email: tradeclientserviceteamus@baml.com
	Attention: Michael Grizzanti
	Telephone: (570) 496-9621
	Facsimile: (800) 755-8743
	Email: michael.a.grizazanti@baml.com






 






    	 		 



     


    

 


Exhibit A-1


 


FORM OF US PLEDGE AGREEMENT


 


[See attached.]


 






    	 	A-1	 



     


    

 



 


 


U.S. PLEDGE AGREEMENT


 


Dated as of October 31, 2019


 


made by


 


CAMELOT UK BIDCO LIMITED
 as a Pledgor,


 


in favor of


 


BANK OF AMERICA, N.A.,
 as Collateral Agent



 


 






    


     


    




 


TABLE OF CONTENTS


 


Page


	 	 	 	 	 	 
	SECTION 1.	 	Pledge	 	 	2	 
	 	 	 	 	 	 	 
	SECTION 2.	 	Delivery of the Securities Collateral	 	 	2	 
	 	 	 	 	 	 	 
	SECTION 3.	 	Representations, Warranties and Covenants	 	 	2	 
	 	 	 	 	 	 	 
	SECTION 4.	 	Registration in Nominee Name; Denominations	 	 	4	 
	 	 	 	 	 	 	 
	SECTION 5.	 	Voting Rights; Dividends and Interest, etc.	 	 	4	 
	 	 	 	 	 	 	 
	SECTION 6.	 	Remedies upon Default	 	 	5	 
	 	 	 	 	 	 	 
	SECTION 7.	 	Application of Proceeds of Sale	 	 	7	 
	 	 	 	 	 	 	 
	SECTION 8.	 	Collateral Agent Appointed Attorney-in-Fact	 	 	7	 
	 	 	 	 	 	 	 
	SECTION 9.	 	Waivers; Amendment	 	 	8	 
	 	 	 	 	 	 	 
	SECTION 10.	 	Securities Act, etc.	 	 	8	 
	 	 	 	 	 	 	 
	SECTION 11.	 	Termination or Release	 	 	9	 
	 	 	 	 	 	 	 
	SECTION 12.	 	Notices	 	 	9	 
	 	 	 	 	 	 	 
	SECTION 13.	 	Further Assurances	 	 	9	 
	 	 	 	 	 	 	 
	SECTION 14.	 	Binding Effect; Several Agreement; Assignment	 	 	9	 
	 	 	 	 	 	 	 
	SECTION 15.	 	Survival of Agreement; Severability	 	 	10	 
	 	 	 	 	 	 	 
	SECTION 16.	 	Governing Law	 	 	10	 
	 	 	 	 	 	 	 
	SECTION 17.	 	Counterparts	 	 	10	 
	 	 	 	 	 	 	 
	SECTION 18.	 	Rules of Construction	 	 	10	 
	 	 	 	 	 	 	 
	SECTION 19.	 	Jurisdiction; Consent to Service of Process	 	 	10	 
	 	 	 	 	 	 	 
	SECTION 20.	 	Waivers of Jury Trial	 	 	11	 
	 	 	 	 	 	 	 
	SECTION 21.	 	Filing of Financing Statements	 	 	11	 
	 	 	 	 	 	 	 
	SECTION 22.	 	Judgment Currency	 	 	11	 
	 	 	 	 	 	 	 
	SECTION 23.	 	Conflict with Loan Documents	 	 	12	 
	 	 	 	 	 	 	 
	SECTION 24.	 	Certain Defined Terms	 	 	12	 




 






    - ii-


     


    

 


SCHEDULES


 


	Schedule I	 	Pledged Interests
	Schedule II	 	Legal Name, Jurisdiction, Organizational ID Number, Location




 






    - iii-


     


    

 


U.S. PLEDGE AGREEMENT


 


U.S. PLEDGE AGREEMENT
(as amended, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”),
dated as of October 31, 2019, made by Camelot UK Bidco Limited, a private limited liability company incorporated under the
laws of England and Wales with registered number 10267893 (together with any other entity that may become a party hereto as provided
herein, the “Pledgor”), in favor of Bank of America, N.A., as collateral agent (together with its affiliates
and any of its successors, in such capacity, the “Collateral Agent”) for the benefit of the Secured Parties
(as defined in the Credit Agreement described below).


 


R E C I T A L S


 


A.            Camelot
UK Holdco Limited, a private limited liability company incorporated under the laws of England and Wales with registered number
10314173 (“Holdings”), the Pledgor, the borrowers listed on Schedule 1.1I thereto (collectively, the
 “US Borrowers”), Camelot Finance S.A., a public limited liability company (société anonyme)
organized and established under the laws of the Grand Duchy of Luxembourg (“Luxembourg”), having its registered
office at 14, rue Edward Steichen, L-2540 Luxembourg and registered with the Luxembourg Trade and Companies Register (the “Companies
Register”) under number B 208514 (the “Lux Borrower” and, together with the US Borrowers, each a “Term
Borrower” and, collectively, the “Term Borrowers”), certain Restricted Subsidiaries from time to time
designated thereunder as Additional Revolving Borrowers (together with the Lux Borrower, the Pledgor and Camelot U.S. Acquisition
LLC, a limited liability company organized and established under the laws of Delaware, each a “Revolving Borrower”
and, collectively, the “Revolving Borrowers” and the Revolving Borrowers, together with the Term Borrowers,
each a “Borrower” and, collectively, the “Borrowers”), the Subsidiary Guarantors from time
to time party thereto, the several banks, financial institutions, institutional investors and other entities from time to time
party thereto as lenders (the “Lenders”), the Issuing Lenders from time to time party thereto and Bank of America,
N.A., as Administrative Agent, have, in connection with the execution and delivery of this Agreement, entered into that Credit
Agreement, dated as of the date hereof (as amended, restated, amended and restated, supplemented, restructured or otherwise modified,
renewed or replaced from time to time, the “Credit Agreement”).


 


B.            The
Lenders have agreed to make loans and extensions of credit under the Credit Agreement in reliance on the Pledgor entering into
this Agreement.


 


C.            The
Pledgor will derive substantial direct and indirect benefits from the execution, delivery and performance of the obligations under
the Credit Agreement and therefore is willing to enter into this Agreement.


 


Capitalized terms used
herein and not defined herein shall have the meanings assigned to such terms in the Credit Agreement.


 


NOW, THEREFORE, in consideration
of the foregoing and other benefits accruing to the Pledgor, the receipt and sufficiency of which are hereby acknowledged, the
Pledgor hereby makes the following representations and warranties to the Collateral Agent for the benefit of the Secured Parties
(and each of its successors and permitted assigns), and agrees as follows:


 






    1


     


    

 


SECTION 1.      Pledge.


 


(a)           As
collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration
or otherwise) of the Obligations of the Pledgor under the Credit Agreement (the “Secured Obligations”), in each
case, including, without limitation, any extensions, modifications, substitutions, amendments or renewals of any or all of such
Secured Obligations, the Pledgor hereby grants to the Collateral Agent for the ratable benefit of the Secured Parties, Liens in
all of the Pledgor’s right, title and interest in, to and under the Securities Collateral (defined below) of the Pledgor.
The Liens granted in this clause (a) to secure the Secured Obligations are referred to herein as the “Security Interests”.


 


(b)           Securities
Collateral shall mean all of the following, in each case, whether now owned or hereafter acquired: (i) all the Capital Stock
owned by the Pledgor in each Pledged Entity listed on Schedule I hereto and Capital Stock in any other Pledged Entity obtained
in the future by the Pledgor while this Agreement is in effect and the certificates, if any, representing all such interests (collectively,
the “Pledged Interests”); (ii) subject to Section 5, all payments of distributions, dividends,
cash, instruments, securities and other property from time to time received, receivable or otherwise distributed in respect of,
in exchange for or upon the conversion of the securities referred to in clause (i) above; (iii) subject to Section 5,
all rights and privileges of the Pledgor with respect to the securities and other property referred to in clauses (i) and
(ii) above, including, without limitation, voting and management rights; (iv) all books and records pertaining to the
Pledged Interests and (v) all Proceeds, Supporting Obligations and products of any and all of the foregoing; provided that
notwithstanding anything to the contrary herein, the Securities Collateral shall exclude Excluded Assets and this Agreement shall
not constitute a grant of a Lien or any security interest in any Excluded Assets


 


(c)           Upon
delivery to the Collateral Agent of (i) any certificated Pledged Interests now or hereafter included in the Securities Collateral
shall be accompanied by stock powers duly executed in blank or other instruments of transfer reasonably satisfactory to the Collateral
Agent and (ii) all other property comprising part of the Securities Collateral shall be accompanied by proper instruments
of assignment duly executed by the Pledgor.


 


SECTION 2.      Delivery
of the Securities Collateral.


 


(a)           Subject
to the terms of the Intercreditor Agreement, the Pledgor agrees to promptly deliver or cause to be delivered to the Collateral
Agent any and all certificates or other instruments or documents representing the Pledged Interests, duly indorsed in a manner
reasonably satisfactory to the Collateral Agent, to be held as Collateral pursuant to this Agreement and in any event within thirty
(30) days (or such later date as the Collateral Agent shall agree) after the date the Pledgor receives such certificates or other
instruments or documents).


 


SECTION 3.       Representations,
Warranties and Covenants. The Pledgor hereby represents, warrants and covenants, as to itself and the Securities Collateral
pledged by it hereunder, to and with the Collateral Agent, that:


 


(a)           as
of the Closing Date, (i) the Pledged Interests represent that percentage as set forth on Schedule I of the issued and
outstanding shares of each class of Capital Stock of each Pledged Entity and (ii) the shares of Pledged Interest pledged by
the Pledgor hereunder constitute all the issued and outstanding shares of all classes of the Capital Stock of each Pledged Entity
owned by the Pledgor (other than, for the avoidance of doubt, any Excluded Assets);


 


(b)           the
Pledgor (i) is the direct owner, beneficially and of record, of, and has the title to, the Pledged Interests, (ii) holds
the same free and clear of all Liens other than the security interests created by this Agreement and Permitted Liens, (iii) will
make no collateral assignment, pledge or hypothecation of, or create or permit to exist any security interest in or other Lien
on, the Securities Collateral, other than the security interests created by this Agreement and Permitted Liens, and (iv) subject
to Section 2 and Section 5, will cause any and all certificates representing Pledged Interests, whether
for value paid by the Pledgor or otherwise, to be delivered and pledged hereunder;


 






    2


     


    

 


(c)           no
financing statement or other public notice with respect to all or any part of the Pledged Interests, in each case that is authorized
by the Pledgor, is on file or of record or will be filed in any public office, except as have been filed or will be filed in favor
of the Collateral Agent, for the benefit of the Secured Parties, pursuant to this Agreement or as are otherwise permitted by the
Credit Agreement;


 


(d)           the
Pledgor (i) has the power and authority to pledge the Securities Collateral in the manner hereby done or contemplated and
(ii) will defend its title or interest thereto or therein against any and all Liens (other than (x) Permitted Liens and
(y) to the extent that the Collateral Agent and the Pledgor agree that the cost of such defense is excessive in relation to
the benefit to the Secured Parties of the security interest and priority), however arising, of all Persons whomsoever;


 


(e)           subject
to the Agreed Security Principles, the Legal Reservations and the Perfection Requirements, by virtue of the execution and delivery
by the Pledgor of this Agreement, and (i) in the case of the certificated Pledged Interests, when certificates or other documents
representing or evidencing such Pledged Interests are delivered to the Collateral Agent in accordance with this Agreement and (ii) in
the case of uncertificated Pledged Interests, upon the filing of proper UCC financing statements in the appropriate filing offices,
the Collateral Agent will obtain valid and perfected Liens on and Security Interests in such Pledged Interests as security for
the payment and performance of the Secured Obligations, enforceable in accordance with the terms hereof against all creditors of
the Pledgor and any Persons purporting to purchase any Pledged Interest from such Pledgor, and prior to any other Liens on the
Collateral in existence on the date hereof (except (x) to the extent such enforceability may be limited by the Legal Reservations
and (y) for Permitted Liens);


 


(f)            all
of the Pledged Interests issued to the Pledgor have been duly authorized and validly issued and (i) in the case of the Pledged
Interest of each corporate Pledged Entity, are fully paid and nonassessable and (ii) in the case of the Pledged Interest of
each limited liability company Pledged Entity, are fully paid;


 


(g)           its
legal name, jurisdiction of organization, organizational identification number or company number, if any, and the location of the
Pledgor’s chief executive office or principal place of business are specified on Schedule II hereto. The Pledgor
will not change its legal name, jurisdiction of organization, organizational identification number or company number, if
any, and the location of the Pledgor’s chief executive office or principal place of business,
if applicable, from that referred to in Schedule II hereto unless the Pledgor delivers to the Collateral Agent, on
or before the date that is 30 days (or such longer period as may be agreed to by the Collateral Agent) following such event or
occurrence (i) written notice thereof, (ii) if requested by the Collateral Agent, a written supplement to Schedule
II showing the new name, type of organization, jurisdiction of organization, identification number or location of chief executive
office or principal place of business, and (iii) all additional financing statements and other documents reasonably requested
by the Collateral Agent to maintain the validity, perfection and priority of the security interests provided for herein;


 






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(h)           if
the Pledgor shall become entitled to receive or shall receive any certificate (including, without limitation, any certificate representing
a dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued
in connection with any reorganization), in respect of the Pledged Interests of any Pledged Entity included in the Securities Collateral,
whether in addition to, in substitution of, as a conversion of, or in exchange for, any shares of the Pledged Interests, or otherwise
in respect thereof, the Pledgor shall accept the same as the agent of the Collateral Agent and the other Secured Parties, hold
the same in trust for the Collateral Agent and the other Secured Parties and deliver the same within 30 days (or such longer period
as agreed by the Collateral Agent) to the Collateral Agent (or its bailee pursuant to the Intercreditor Agreement) in the exact
form received, duly indorsed by the Pledgor to the Collateral Agent, if required, together with an undated stock power covering
such certificate duly executed in blank by the Pledgor to be held by the Collateral Agent, subject to the terms hereof, as additional
collateral security for the Obligations; provided that with respect to the Pledged Interests, the Pledged Interests shall not be
required to deliver such certificate to the Collateral Agent to the extent and for so long as such Capital Stock is not required
by the Collateral Agent to be pledged or delivered hereunder pursuant to Sections 6.9(b) or 6.9(c) of the Credit Agreement;
and


 


(i)            Subject
in all respects to the Intercreditor Agreement, the Pledgor hereby authorizes and instructs each Pledged Entity hereunder to (i) comply
with any instruction received by it from the Collateral Agent in writing that (x) states that an Acceleration Event has occurred
and is continuing and (y) is otherwise in accordance with the terms of this Agreement, without any other or further instructions
from the Pledgor, and (ii) upon the request of the Collateral Agent made during the continuance of an Acceleration Event,
pay any dividends or other payments with respect to the Pledged Entities directly to the Collateral Agent.


 


SECTION 4.      Registration
in Nominee Name; Denominations. Subject in all respects to the Intercreditor Agreement, if an Acceleration Event shall occur
and be continuing and the Collateral Agent shall have given written notice, any or all of the Pledged Interests shall be registered
in the name of the Collateral Agent or its nominee (as pledgee or as sub-agent), and the Collateral Agent or its nominee (as pledgee
or as sub-agent) may thereafter exercise (x) all voting, corporate and other rights pertaining to such Pledged Interest at
any meeting of shareholders of the relevant Pledged Entity or Pledged Entities or otherwise and (y) any and all rights of
conversion, exchange and subscription and any other rights, privileges or options pertaining to such Pledged Interests as if it
were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Pledged
Interest upon the merger, consolidation, reorganization, recapitalization or other fundamental change in the corporate or other
organizational structure of any Pledged Entity, or upon the exercise by the Pledgor or the Collateral Agent of any right, privilege
or option pertaining to such Pledged Interests, and in connection therewith, the right to deposit and deliver any and all of the
Pledged Interests with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions
as the Collateral Agent may determine is necessary or advisable to accomplish the purposes hereof), all without liability except
to account for property actually received by it, but the Collateral Agent shall have no duty to the Pledgor to exercise any such
right, privilege or option and shall not be responsible for any failure to do so or delay in so doing; provided the Pledgor
will promptly upon written request by the Collateral Agent give to the Collateral Agent copies of any notices or other communications
received by it with respect to Pledged Interests registered in the name of such Pledgor.


 


SECTION 5.      Voting
Rights; Dividends and Interest, etc.


 


(a)           Subject
in all respects to the Intercreditor Agreement, unless and until an Acceleration Event shall have occurred and be continuing and
the Pledgor has received prior written notice from the Collateral Agent stating its intention to exercise its rights and remedies
under Section 5(b) and (c):


 






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(i)            The
Pledgor shall be permitted to receive all cash dividends paid in respect of the Pledged Interest, to the extent permitted by the
Credit Agreement, and to exercise all voting and corporate or other organizational rights with respect to the Pledged Interests;
provided, however, that no vote shall be cast or corporate or other organizational right exercised or other actions
taken which would adversely affect the validity or enforceability of the security over the Pledged Interests created pursuant to
this Agreement (except as otherwise permitted by the Credit Agreement);


 


(ii)           the
Collateral Agent shall execute and deliver to the Pledgor, or cause to be executed and delivered to the Pledgor, all such proxies,
powers of attorney and other instruments as the Pledgor may reasonably request for the purpose of enabling the Pledgor to exercise
the voting and/or consensual rights and powers it is entitled to exercise pursuant to subparagraph (i) above and to receive
the cash dividends it is entitled to receive pursuant to subparagraph (iii) below; and


 


(iii)          subject
to the next sentence, the Pledgor shall be entitled to receive and retain any and all cash dividends and other amounts paid on
the Pledged Interests to the extent and only to the extent that such cash dividends and other amounts are not prohibited by the
terms and conditions of the Loan Documents.


 


(b)           Subject
in all respects to the Intercreditor Agreement, upon the occurrence and during the continuance of an Acceleration Event and upon
receipt by the Pledgor of prior written notice from the Collateral Agent stating its intent to exercise its rights and remedies
under Section 5(b) and (c), all rights of the Pledgor to dividends or other amounts that the Pledgor is
authorized to receive pursuant to paragraph (a)(iii) above shall cease, and all such rights shall thereupon become vested
in the Collateral Agent which shall have the right and authority to receive and retain such dividends or other amounts (including
payments or other Proceeds) and make application thereof to the Obligations in accordance with the Credit Agreement.


 


(c)           Subject
in all respects to the Intercreditor Agreement, upon the occurrence and during the continuance of an Acceleration Event and upon
receipt by the Pledgor of prior written notice from the Collateral Agent stating its intent
to exercise its rights and remedies under Section 5(b) and (c), all rights of the Pledgor to exercise the
voting and consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 5,
and the obligations of the Collateral Agent under paragraph (a)(ii) of this Section 5, shall cease, and all such
rights shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority to exercise
such voting and consensual rights and powers. After all Acceleration Events have been cured or waived, the Pledgor will have the
right to exercise the voting and consensual rights and powers that it would otherwise be entitled to exercise pursuant to the terms
of paragraph (a)(i) above.


 


SECTION 6.       Remedies
upon Default. After the occurrence and during the continuance of an Acceleration Event, subject to applicable regulatory and
legal requirements, the Collateral Agent may sell or otherwise dispose of the Securities Collateral, or any part thereof, at public
or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as
the Collateral Agent shall deem appropriate or otherwise exercise any rights and remedies available at law or in equity; provided
that any disposition of Securities Collateral by private sale shall be deemed to have been made in a commercially reasonable
manner. Each such purchaser at any such sale shall hold the property sold absolutely free from any claim or right on the part
of the Pledgor, and, to the extent permitted by applicable law, the Pledgor hereby waives all rights of redemption, stay, valuation
and appraisal the Pledgor now has or may at any time in the future have under any rule of law or statute now existing or
hereafter enacted.


 






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The Collateral Agent
shall give the Pledgor ten (10) Business Days’ prior written notice (which the Pledgor agrees is reasonable notice within
the meaning of Section 9-611 of the Uniform Commercial Code as in effect in the State of New York or its equivalent in other
jurisdictions (the “UCC”)) of the Collateral Agent’s intention to make any sale or other disposition of
the Pledgor’s Securities Collateral unless such notice is not required pursuant to Section 9-611(d) of the UCC.
Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s
board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the
Securities Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall
be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may fix and state
in the notice of such sale. At any such sale, the Securities Collateral, or portion thereof, to be sold may be sold in one lot
as an entirety or in separate parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The Collateral
Agent shall not be obligated to make any sale of any Securities Collateral if it shall determine not to do so, regardless of the
fact that notice of sale of such Securities Collateral shall have been given. The Collateral Agent may, without notice or publication,
adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed
for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. In case
any sale of all or any part of the Securities Collateral is made on credit or for future delivery, the Securities Collateral so
sold may be retained by the Collateral Agent until the sale price is paid in full by the purchaser or purchasers thereof, but the
Collateral Agent shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Securities
Collateral so sold and, in case of any such failure, such Securities Collateral may be sold again upon like notice. At any public
(or, to the extent permitted by applicable law, private) sale made pursuant to this Section 6, any Secured Party may
bid for or purchase, free from any right of redemption, stay, valuation or appraisal on the part of the Pledgor (all said rights
being also hereby waived and released), the Securities Collateral or any part thereof offered for sale and may make payment on
account thereof by using any Secured Obligation then due and payable to such Secured Party from the Pledgor as a credit against
the purchase price, and such Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property
without further accountability to the Pledgor therefor. For purposes hereof, (a) a written agreement to purchase the Securities
Collateral or any portion thereof shall be treated as a sale thereof, (b) the Collateral Agent shall be free to carry out
such sale pursuant to such agreement and (c) following execution of such agreement, the Pledgor shall not be entitled to the
return of the Securities Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral
Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Secured Obligations have
been paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed
by a suit or suits at law or in equity to foreclose upon the Securities Collateral and to sell the Securities Collateral or any
portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding
by a court-appointed receiver.


 


The Pledgor shall remain
liable for any deficiency if the proceeds of any sale or other disposition of the Securities Collateral are insufficient to pay
its Obligations and the fees and disbursements of the Collateral Agent, any other Secured Party and any agents or attorneys employed
by the Collateral Agent or any other Secured Party to collect such deficiency, in each case, subject to the limitations set forth
in Section 11.5 of the Credit Agreement.


 






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SECTION 7.      Application
of Proceeds of Sale. (a) Subject in all respects to the Intercreditor Agreement, if an Acceleration Event shall occur
and be continuing and the Collateral Agent shall have given prior written notice of its intent to exercise its rights and remedies,
all Proceeds received by the Pledgor consisting of cash, checks and Cash Equivalents shall be held by the Pledgor in trust for
the Collateral Agent and the other Secured Parties, segregated from other funds of the Pledgor, and shall, forthwith upon receipt
by the Pledgor, be turned over to the Collateral Agent in the exact form received by the Pledgor (duly indorsed by the Pledgor
to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral
Agent in a Collateral Account (as defined in the US Security Agreement) maintained under its sole dominion and control. All Proceeds
while held by the Collateral Agent in a Collateral Account (or by the Pledgor in trust for the Collateral Agent and the other
Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof
until applied as provided in clause (b) of this Section hereof.


 


(b) Subject in all respects to the
Intercreditor Agreement, if an Acceleration Event shall have occurred and be continuing, the Collateral Agent may apply, at such
time or times as the Collateral Agent may elect, all or any part of Proceeds constituting Collateral, whether or not held in any
Collateral Account, in payment of the Obligations in the order set forth in Section 9.5 of the Credit Agreement.


 


SECTION 8.      Collateral
Agent.


 


(a)           The
Pledgor hereby appoints the Collateral Agent the attorney-in-fact of the Pledgor for the purpose of carrying out the provisions
of this Agreement and taking any action and executing any instrument that the Collateral Agent may deem reasonably necessary or
advisable to accomplish the purposes hereof, which appointment is irrevocable until this Agreement is terminated and coupled with
an interest, provided that the Collateral Agent shall only take any action pursuant to such appointment after the occurrence
and during the continuation of an Acceleration Event. Without limiting the generality of the foregoing, the Collateral Agent shall
have the right, after the occurrence and during the continuance of an Acceleration Event with full power of substitution either
in the Collateral Agent’s name or in the name of the Pledgor, to ask for, demand, sue for, collect, receive and give acquittance
for any and all moneys due or to become due under and by virtue of any Securities Collateral, to endorse checks, drafts, orders
and other instruments for the payment of money payable to the Pledgor representing any interest or dividend or other distribution
payable in respect of the Securities Collateral or any part thereof or on account thereof and to give full discharge for the same,
to settle, compromise, prosecute or defend any action, claim or proceeding with respect thereto, and to sell, assign, endorse,
pledge, transfer and to make any agreement respecting, or otherwise deal with, the same; provided, however, that
nothing herein contained shall be construed as requiring or obligating the Collateral Agent to make any commitment or to make any
inquiry as to the nature or sufficiency of any payment received by Collateral Agent, or to present or file any claim or notice,
or to take any action with respect to the Securities Collateral or any part thereof or the moneys due or to become due in respect
thereof or any property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable only for amounts
actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors,
employees or agents shall be responsible to the Pledgor for any act or failure to act hereunder, except for their own gross negligence,
bad faith or willful misconduct as determined in a final non-appealable judgment of a court competent jurisdiction (and the Pledgor
waives all claims, damages and demands against the Collateral Agent or the other Secured Parties arising from such acts or failure
to act to the fullest extent permitted by applicable law).


 






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SECTION 9.      Waivers;
Amendment.


 


(a)           No
failure or delay of the Collateral Agent in exercising any power or right hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right
or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of
the Collateral Agent and the other Secured Parties hereunder and under the other Loan Documents are cumulative and are not exclusive
of any rights or remedies that they would otherwise have. No waiver of any provisions of this Agreement or consent to any departure
by the Pledgor therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then
such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Any waiver or consent
shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on the Pledgor in
any case shall entitle the Pledgor to any other or further notice or demand in similar or other circumstances.


 


(b)           None
of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except in accordance with
Section 11.1 of the Credit Agreement or as otherwise provided herein or in the Intercreditor Agreement.


 


SECTION 10.    Securities
Act, etc. In view of the position of the Pledgor in relation to the Pledged Interests, or because of other current or future
circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter
enacted analogous in purpose or effect (such Act and any such similar statute as from time to time in effect being called the
 “Federal Securities Laws”) with respect to any disposition of the Pledged Interests permitted hereunder. The
Pledgor understands that compliance with the Federal Securities Laws might very strictly limit the course of conduct of the Collateral
Agent, if the Collateral Agent were to attempt to dispose of all or any part of the Pledged Interests after the occurrence and
during the continuation of an Acceleration Event, and might also limit the extent to which or the manner in which any subsequent
transferee of any Pledged Interests could dispose of the same. Similarly, there may be other legal restrictions or limitations
affecting the Collateral Agent in any attempt to dispose of all or part of the Pledged Interests under applicable Blue Sky or
other state securities laws or similar laws analogous in purpose or effect. The Pledgor recognizes that in light of such restrictions
and limitations the Collateral Agent may, after the occurrence and during the continuation of an Acceleration Event, with respect
to any sale of the Pledged Interests, limit the purchasers to those who will represent and agree, among other things, to acquire
such Pledged Interests for their own account for investment, and not with a view to the distribution or resale thereof, and upon
consummation of any such sale the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers
thereof the Securities Collateral so sold. The Pledgor acknowledges and agrees that in light of such restrictions and limitations,
the Collateral Agent, in its sole and absolute discretion (but subject to the other provisions of this Agreement and the Credit
Agreement), (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such
Pledged Interests or part thereof shall have been filed under the Federal Securities Laws and (b) may approach and negotiate
with a single potential purchaser to effect such sale. The Pledgor acknowledges and agrees that any such sale might result in
prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event
of any such sale, the Collateral Agent shall incur no responsibility or liability for selling all or any part of the Pledged Interests
at a price that the Collateral Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances,
notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred until after
registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 10 will
apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may exceed substantially
the price at which the Collateral Agent sells.


 






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SECTION 11.    Termination
or Release.


 


(a)           This
Agreement with respect to the Collateral Agent and the Securities Collateral granted hereby to the Collateral Agent shall terminate
automatically and without further action when all the Secured Obligations (other than (i) contingent obligations for which
no claim has been made, (ii) Cash Management Obligations and (iii) obligations under Specified Swap Agreements) have
been paid in full and the Credit Agreement has been terminated.


 


(b)           In
connection with any termination or release pursuant to paragraph (a), the Collateral Agent shall execute and deliver to the Pledgor,
at the Pledgor’s expense, all documents that the Pledgor shall reasonably request to evidence such termination or release
and shall deliver to the Pledgor any Securities Collateral of the Pledgor held by the Collateral Agent. Any execution and delivery
of documents pursuant to this Section 11 shall be without recourse to or warranty by the Collateral Agent.


 


(c)           If
any of the Securities Collateral shall be sold, transferred or otherwise disposed of by the Pledgor in a sale, transfer or other
disposition not prohibited by the Credit Agreement other than with respect to a sale, transfer or other disposition to another
Pledgor, then such Securities Collateral shall be automatically and without further action released from the security interests
created by this Agreement. If a Pledged Entity is disposed of pursuant to a transaction not prohibited by the Credit Agreement,
becomes an Excluded Subsidiary or is otherwise released from its guarantee of the Obligations pursuant to the Credit Agreement,
such Pledged Entity shall be automatically and without further action released from its obligations under this Agreement. In each
case, the Collateral Agent, at the request and sole expense of the Pledgor, shall execute and deliver to the Pledgor all releases
or other documents reasonably necessary or desirable for the termination and release of the Securities Collateral of the Pledgor.


 


SECTION 12.    Notices.
All communications and notices hereunder shall be in writing and given as provided in Section 11.2 of the Credit Agreement.


 


SECTION 13.    Further
Assurances. The Pledgor agrees to do such further acts and things, and to execute and deliver such additional conveyances,
assignments, agreements and instruments, as the Collateral Agent may at any time reasonably request in connection with the administration
and enforcement of this Agreement or with respect to the Securities Collateral or any part thereof or in order better to assure
and confirm unto the Collateral Agent and the Secured Parties their rights and remedies hereunder.


 


SECTION 14.    Binding
Effect; Several Agreement; Assignment. Whenever in this Agreement any of the parties hereto is referred to, such reference
shall be deemed to include the successors and permitted assigns of such party; and all covenants, promises and agreements by or
on behalf of the Pledgor that are contained in this Agreement shall bind and inure to the benefit of its successors and permitted
assigns. This Agreement shall become effective as to the Pledgor when a counterpart hereof executed on behalf of the Pledgor shall
have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of the Collateral Agent,
and thereafter shall be binding upon the Pledgor and the Collateral Agent and their respective successors and assigns, and shall
inure to the benefit of the Pledgor, the Collateral Agent and the other Secured Parties, and their respective successors and assigns,
except that the Pledgor shall not have the right to assign its respective rights hereunder or any interest herein or in the Securities
Collateral (and any such attempted assignment shall be void), except as expressly contemplated by this Agreement or otherwise
not prohibited by the Loan Documents.


 






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SECTION 15.    Survival
of Agreement; Severability.


 


(a)           All
covenants, agreements, representations and warranties made by the Pledgor herein shall be considered to have been relied upon by
the Collateral Agent and the other Secured Parties and shall continue in full force and effect until this Agreement shall terminate.


 


(b)           In
the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected
or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in
and of itself affect the validity of such provision in any other jurisdiction).


 


SECTION 16.    Governing
Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.


 


SECTION 17.    Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute a single contract, and shall become effective as provided in Section 14. Delivery
of an executed counterpart of a signature page to this Agreement by facsimile transmission (or other electronic means, including
PDF) shall be as effective as delivery of a manually executed counterpart of this Agreement.


 


SECTION 18.    Rules of
Construction. The rules of construction specified in Section 1.2 of the Credit Agreement shall be applicable
to this Agreement. Section headings used herein are for convenience of reference only, are not part of this Agreement and
are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement.


 


SECTION 19.    Jurisdiction;
Consent to Service of Process. Each party hereto hereby irrevocably and unconditionally:


 


(a)           submits
for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which
it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of
the courts of the State of New York sitting in the borough of Manhattan in New York City, the courts of the United States for the
Southern District of New York, and appellate courts from any thereof, to the extent such courts would have subject matter jurisdiction
with respect thereto, and agrees that notwithstanding the foregoing (x) a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law and
(y) legal actions or proceedings brought by the Secured Parties in connection with the exercise of rights and remedies with
respect to Collateral may be brought in other jurisdictions where such Collateral is located or such rights or remedies may be
exercised;


 


(b)           consents
that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to
the venue of any such action or proceeding in any such court and waives any right to claim that such action or proceeding was brought
in an inconvenient court and agrees not to plead or claim the same;


 






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(c)           CONSENTS
TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.2 OF THE CREDIT AGREEMENT. THE PLEDGOR HEREBY IRREVOCABLY
APPOINTS THE BORROWER REPRESENTATIVE AS ITS AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE SERVICE OF ANY AND ALL PROCESS WHICH
MAY BE SERVED IN ANY SUIT, ACTION OR PROCEEDING OF THE NATURE REFERRED TO IN SECTION 11.14 OF THE CREDIT AGREEMENT. THE
PLEDGOR AGREES THAT SUCH SERVICE (I) SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON IT IN ANY SUCH SUIT,
ACTION OR PROCEEDING AND (II) SHALL, TO THE FULLEST EXTENT PERMITTED BY LAW, BE TAKEN AND HELD TO BE VALID PERSONAL SERVICE
UPON AND PERSONAL DELIVERY TO IT;


 


(d)           agrees
that nothing herein shall affect the right to effect service of process in any other manner permitted by law or limit the right
of the Collateral Agent or any other Secured Party to bring proceedings against the Pledgor in the courts of any jurisdiction or
jurisdictions; and


 


(e)           waives,
to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding arising
out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby or the Transactions,
any special, exemplary, punitive or consequential damages against any Secured Party.


 


SECTION 20.    Waivers
of Jury Trial. THE PLEDGOR AND THE COLLATERAL AGENT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.


 


SECTION 21.    Filing
of Financing Statements. Pursuant to Section 9-509 of the UCC, the Pledgor authorizes the Collateral Agent to
file financing statements under the UCC with respect to the Securities Collateral owned by it without the signature of the Pledgor
in such form and in such filing offices as the Collateral Agent reasonably determines appropriate to perfect the Security Interests
of the Collateral Agent under this Agreement. A carbon, photographic or other reproduction of this Agreement shall be sufficient
as a financing statement for filing in any jurisdiction. Copies of any financing statement filed pursuant to this Section 21
shall be provided to the Pledgor.


 


SECTION 22.    Judgment
Currency. If for the purpose of obtaining judgment in any court it is necessary to convert an amount due hereunder in the
currency in which it is due (the “Original Currency”) into another currency (the “Second Currency”),
the rate of exchange applied shall be that at which, in accordance with normal banking procedures, the Collateral Agent could
purchase, in the New York foreign exchange market, the Original Currency with the Second Currency on the Business Day immediately
preceding that on which any such judgment, or any relevant part thereof, is given. The obligations of the Pledgor in respect of
any amount due to the Secured Parties hereunder shall, notwithstanding any judgment or payment in respect of such judgment in
such Second Currency, be discharged only to the extent that, on the Business Day following the date the Collateral Agent receives
payment of any sum so adjudged to be due hereunder in the Second Currency, the Collateral Agent may, in accordance with normal
banking procedures, purchase, in the New York foreign exchange market, the Original Currency with the amount of the Second Currency
so paid; and if the amount of the Original Currency so purchased is less than the amount originally due to the Secured Parties
in the Original Currency, the Pledgor agrees, to the fullest extent that it may effectively do so, as a separate obligation and
notwithstanding any such payment or judgment to indemnify the Collateral Agent against such loss. If the amount of Original Currency
so purchased exceeds the amount originally due to the Secured Parties in the Original Currency, then the Pledgor shall be entitled
to and shall receive from the Collateral Agent such excess. The term “rate of exchange” in this Section 22
means the spot rate at which the Collateral Agent, in accordance with normal practices, is able on the relevant date to purchase
the Original Currency with the Second Currency, and includes any costs of exchange payable in connection with such purchase


 






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SECTION 23.    Conflict
with Loan Documents. To the extent the terms of this Agreement conflict with the terms contained in the Credit Agreement with
regard to instructions to or other matters affecting the Collateral Agent, the Credit Agreement will prevail, except to the extent
that such interpretation contravenes the parties’ mutual intent to create a validly existing and attached security interest.


 


SECTION 24.    Intercreditor
Agreement. Reference is made to the Intercreditor Agreement, dated as of the date hereof, among Holdings, Pledgor, the Borrowers
and the other Guarantors party thereto, Bank of America, N.A., as Credit Agreement Collateral Agent (as defined in the Intercreditor
Agreement) for the Credit Agreement Secured Parties referred to therein, Wilmington Trust, National Association, as Initial Notes
Collateral Agent (as defined in the Intercreditor Agreement) for the Notes Secured Parties referred to therein, and each additional
authorized representative from time to time party thereto (the “Intercreditor Agreement”). Each person that
is secured hereunder, by accepting the benefits of the security provided hereby, (i) agrees (or is deemed to agree) that it
will be bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement, (ii) authorizes (or
is deemed to authorize) the Collateral Agent on behalf of such Person to enter into, and perform under, the Intercreditor Agreement
and (iii) acknowledges (or is deemed to acknowledge) that a copy of the Intercreditor Agreement was delivered, or made available,
to such Person.


 


Notwithstanding any other
provision contained herein, this Agreement, the Liens created hereby and the rights, remedies, duties and obligations provided
for herein are subject in all respects to the provisions of the Intercreditor Agreement and, to the extent provided therein, the
applicable Security Documents (as defined in the Intercreditor Agreement). In the event of any conflict or inconsistency between
the provisions of this Agreement and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall control.


 


SECTION 25.    Certain
Defined Terms. The following terms are used herein as defined in the New York UCC (and if defined in more than one Article of
the New York UCC shall have the meaning specified in Article 9 thereof): Certificated Security and Supporting Obligations.
As used herein, the following terms shall have the following meanings:


 


“Acceleration
Event”: (i) an Event of Default has occurred and is continuing that has not been cured or waived and the Administrative
Agent (or the requisite Lenders) has exercised any right to declare the Loans and all other Obligations owing under the Credit
Agreement to be due and payable prior to their stated maturities or otherwise to accelerate the payment of amounts outstanding
under the Facilities pursuant to, and in accordance with, the Credit Agreement following an Event of Default (collectively, an
 “acceleration”) or (ii) an Event of Default has occurred and is continuing that has not been waived which results
in the relevant Obligations of the Loan Party becoming immediately and automatically due and payable by operation of any automatic
acceleration provisions contained Section 9.3(a)(x) of the Credit Agreement, and then only in respect of the security
granted by that Loan Party.


 






    12


     


    

 


“Agreement”:
as defined in the Preamble hereto.


 


“Borrowers”:
as defined in the Recitals hereto.


 


“Collateral
Agent”: as defined in the Preamble hereto.


 


“Credit Agreement”:
as defined in the Recitals hereto.


 


“Federal Securities
Laws”: as defined in Section 10.


 


“Holdings”:
as defined in the Recitals hereto.


 


“Loan Documents”:
as defined in the Credit Agreement.


 


“Permitted Liens”:
as defined in the Credit Agreement.


 


“Pledged Entity”:
each entity set forth on Annex I hereto and any other Person organized in the United States that becomes a direct Wholly
Owned Subsidiary of the Pledgor.


 


“Pledged Interests”:
as defined in Section 1(b).


 


“Pledgor”:
as defined in the Preamble hereto.


 


“Proceeds”:
all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC and, in any event, shall
include, without limitation, all dividends or other income from the Investment Property, collections thereon or distributions or
payments with respect thereto.


 


“Secured Obligations”:
as defined in Section 1(a).


 


“Secured Parties”:
as defined in the Credit Agreement.


 


“Security Collateral”:
as defined in Section 1(b).


 


“Security Interests”:
as defined in Section 1(a).


 


“UCC”:
as defined in Section 6.


 


“US Security
Agreement”: as defined in the Credit Agreement.


 


[signature pages follow]


 






    13


     


    

 


 


IN WITNESS WHEREOF, each of the undersigned
has caused this Agreement to be duly executed and delivered as of the date first written above.


 





	 	CAMELOT UK BIDCO LIMITED






 


	 	By:	 
	 	 	Name:	Anthony Morgan
	 	 	Title:	Director




 


[Pledge Agreement]


 






     


     


    




 








 


	 	BANK OF AMERICA, N.A.

as Collateral Agent



 


	 	By:	 
	 	 	Name:
	 	 	Title:




 


[Pledge Agreement]


 



     


     


    




 


	1.	Camelot U.S. Acquisition 1 Co.



 


	2.	Camelot U.S. Acquisition 2 Co.



 


	3.	Camelot U.S. Acquisition 4 Co.



 


	4.	Camelot U.S. Acquisition 5 Co.



 


	5.	Camelot U.S. Acquisition 6 Co.



 


	6.	Camelot U.S. Acquisition 7 Co.



 


	7.	Camelot U.S. Acquisition 8 Co.



 


	8.	Camelot U.S. Acquisition 9 Co.



 


	9.	Camelot U.S. Acquisition 10 Co.



 


	10.	Camelot U.S. Acquisition 11 Co.



 


	11.	Camelot U.S. Acquisition 12 Co.



 


	12.	Camelot U.S. Acquisition 13 Co.



 






     


     


    

 


Schedule I to the

U.S. Pledge Agreement


PLEDGED INTERESTS


 


	Pledgor	Issuer	Number
of 

Certificate to 

Pledge	Number and
 Class of Shares/
 Type of Interest	Percentage
of
 Shares/Interests    
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 1 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 2 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 3 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 4 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 5 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 6 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 7 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 8 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 9 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 10 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 11 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 12 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Camelot U.S. Acquisition 13 Co.	1	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	MicroPatent LLC	2	100% units	100%
	Camelot UK Bidco Limited	Churchill Capital Corp	2	1,000 shares of common stock	100%
	Camelot UK Bidco Limited	Information Ventures LLC	S-1	101 shares	100%



 


 






     


     


    

 


Schedule II to the

U.S. Pledge Agreement


 


LEGAL NAME, JURISDICTION OF ORGANIZATION,
ORGANIZATIONAL IDENTIFICATION NUMBER, LOCATION


 


	Legal Name	 	Jurisdiction	 	Organizational 

Identification 

Number / 

Company Number	 	Location
	Camelot UK Bidco Limited	 	England and Wales	 	10267893	 	17 Duke Of York Street London United Kingdom SW1Y 6LB



 






     


     


    

 


Exhibit A-2


 


FORM OF US SECURITY AGREEMENT


 


[See attached.]


 






     


     


    

 






 





PLEDGE
AND SECURITY AGREEMENT


 


Dated
as of October 31, 2019


 


made
by


 


THE
GRANTORS referred to herein


 


in
favor of


 


BANK
OF AMERICA, N.A.,

as Collateral Agent


 

















     


     


    

 





TABLE OF CONTENTS


 


Page


 




	SECTION 1. DEFINED TERMS	2
	 	 
	1.1   Definitions	2
	1.2   Other Definitional Provisions	6
	 	 
	SECTION 2. GRANT OF SECURITY INTEREST	6
	 	 
	SECTION 3. REPRESENTATIONS AND WARRANTIES	8
	 	 
	3.1   Title; No Other Liens	8
	3.2   Perfected First Priority Liens	8
	3.3   Jurisdiction of Organization; Chief Executive Office	9
	3.4   Inventory and Equipment	9
	3.5   Farm Products	9
	3.6   Investment Property	9
	3.7   Receivables	9
	3.8   Intellectual Property	9
	 	 
	SECTION 4. COVENANTS	10
	 	 
	4.1   Delivery of Instruments, Certificated Securities and Chattel Paper	10
	4.2   Maintenance of Insurance	10
	4.3   Maintenance of Perfected Security Interest; Further Documentation	11
	4.4   Changes in Locations, Name, etc.	11
	4.5   Investment Property	12
	4.6   Intellectual Property	12
	 	 
	SECTION 5. REMEDIAL PROVISIONS	14
	 	 
	5.1   Certain Matters Relating to Receivables	14
	5.2   Communications with Obligors; Grantors Remain Liable	14
	5.3   Investment Property	15
	5.4   Proceeds to be Turned Over to Collateral Agent	16
	5.5   Application of Proceeds	16
	5.6   Code and Other Remedies	17
	5.7   Registration Rights	18
	5.8   Intellectual Property	18
	5.9   Deficiency	20
	 	 
	SECTION 6. THE COLLATERAL AGENT	21
	 	 
	6.1   Collateral Agent’s Appointment as Attorney-in-Fact, etc.	20
	6.2   Duty of Collateral Agent	22
	6.3   Authorization for Filing Financing Statements	22
	6.4   Authority of Collateral Agent	23



 






    - i
                                                                                      -


     


    

 


	SECTION 7. MISCELLANEOUS	24
	 	 
	7.1   Amendments in Writing	23
	7.2   Notices	23
	7.3   No Waiver by Course of Conduct; Cumulative Remedies	23
	7.4   Successors and Assigns	23
	7.5   Counterparts	24
	7.6   Severability	24
	7.7   Section Headings	24
	7.8   Integration	24
	7.9   Governing Law	24
	7.10   Submission to Jurisdiction; Waivers	25
	7.11   Acknowledgements	26
	7.12   Additional Grantors	26
	7.13   Releases	26
	7.14   Intercreditor Agreement	27
	7.15   Judgment Currency	27


 


SCHEDULES


 


	Schedule 1	Investment Property
	Schedule 2	Perfection Matters
	Schedule 3	Jurisdictions of Organization and Chief Executive Offices, etc.
	Schedule 4	[Reserved]
	Schedule 5	Intellectual Property









 



    -ii-


     


    







 


PLEDGE AND SECURITY AGREEMENT
(as amended, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”),
dated as of October 31, 2019, made by each of the signatories hereto (together with any other entity that may become a party
hereto as provided herein, the “Grantors”), in favor of Bank of America, N.A., as collateral agent (together
with its affiliates and any of its successors, in such capacity, the “Collateral Agent”) for the benefit of
the Secured Parties (as defined in the Credit Agreement described below).


 


INTRODUCTORY STATEMENTS


 


WHEREAS, Holdings and
the Borrowers (as defined below) are members of an affiliated group of companies that includes the Grantors;


 


WHEREAS, the proceeds
of the extensions of credit under the Credit Agreement, dated as of the date hereof (as amended, restated, amended and restated,
supplemented, restructured or otherwise modified, renewed or replaced from time to time, the “Credit Agreement”),
among Camelot UK Holdco Limited, a private limited liability company incorporated under the laws of England and Wales with registered
number 10314173 (“Holdings”), Camelot UK Bidco Limited, a private limited liability company incorporated under
the laws of England and Wales with registered number 10267893 (“UK Holdco”), the borrowers listed on Schedule
1.1I thereto (collectively, the “US Borrowers”), Camelot Finance S.A., a public limited liability company
(société anonyme) organized and established under the laws of the Grand Duchy of Luxembourg (“Luxembourg”),
having its registered office at 14, rue Edward Steichen, L-2540 Luxembourg and registered with the Luxembourg Trade and Companies
Register (the “Companies Register”) under number B 208514 (the “Lux Borrower” and, together
with the US Borrowers, each a “Term Borrower” and, collectively, the “Term Borrowers”), certain
Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers (together with the Lux Borrower,
UK Holdco and Camelot U.S. Acquisition LLC, a limited liability company organized and established under the laws of Delaware, each
a “Revolving Borrower” and, collectively, the “Revolving Borrowers” and the Revolving Borrowers,
together with the Term Borrowers, each a “Borrower” and, collectively, the “Borrowers”),
the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional lenders and
other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time to
time party thereto and Bank of America, N.A., as Administrative Agent, will be used in part to enable the Borrowers to make valuable
transfers to one or more of the other Grantors in connection with the operation of their respective businesses;


 


WHEREAS, certain of the
Qualified Counterparties and Cash Management Providers may enter into Specified Swap Agreements and Specified Cash Management Agreements,
respectively, with any Group Member;


 


WHEREAS, the Grantors
are engaged in related businesses, and each Grantor derives substantial direct and indirect benefit from the extensions of credit
under the Credit Agreement and from the Specified Swap Agreements and the Specified Cash Management Agreements; and


 






     - 1 -


     


    

 


WHEREAS, it is a condition
precedent to the obligation of the Lenders to make their respective extensions of credit to the Borrowers under the Credit Agreement
that the Grantors shall have executed and delivered this Agreement to the Collateral Agent for the benefit of the Secured Parties.


 


NOW, THEREFORE, in consideration
of the above premises, the parties hereto hereby agree as follows:


 


SECTION 1. DEFINED TERMS


 


1.1          Definitions.
(a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement, and the following terms are used herein as defined in the New York UCC (and if defined in more
than one Article of the New York UCC shall have the meaning specified in Article 9 thereof): Accounts, Certificated
Security, Chattel Paper, Commercial Tort Claims, Commodity Account, Contracts, Deposit Account, Documents, Equipment, Farm
Products, Fixtures, General Intangibles, Goods, Instruments, Inventory, Letter of Credit Rights, Money, Securities
Account and Supporting Obligations.


 


(b)            The
following terms shall have the following meanings:


 


“Acceleration
Event”: (i) an Event of Default has occurred and is continuing that has not been cured or waived and the Administrative
Agent (or the requisite Lenders) has exercised any right to declare the Loans and all other Obligations owing under the Credit
Agreement to be due and payable prior to their stated maturities or otherwise to accelerate the payment of amounts outstanding
under the Facilities pursuant to, and in accordance with, the Credit Agreement following an Event of Default (collectively, an
 “acceleration”), provided that the Administrative Agent may, following the occurrence and during the continuation
of an Event of Default that has not been cured or waived, appoint or take steps to appoint, under any existing or future law of
any jurisdiction (whether domestic or foreign) relating to the bankruptcy, insolvency, reorganization or relief of debtors, a receiver,
trustee, custodian, administrator, administrative receiver or manager without a prior or contemporaneous acceleration (voluntary
or automatic) of payment of amounts outstanding under any Facility; or (ii) an Event of Default has occurred and is continuing
that has not been waived which results in the relevant Obligations of the Loan Party becoming immediately and automatically due
and payable by operation of any automatic acceleration provisions contained Section 9.3(a)(x) of the Credit Agreement,
and then only in respect of the security granted by such Loan Party.


 


“Agreement”:
as defined in the preamble hereto.


 


“Borrowers”:
as defined in the recitals hereto.


 


“Collateral”:
as defined in Section 2.


 


“Collateral
Account”: any collateral account established by the Collateral Agent as provided in Sections 5.1 or 5.4.


 


“Collateral
Agent”: as defined in the preamble hereto.


 






     - 2 -


     


    

 


“Copyright Licenses”:
any written agreement, license or covenant naming any Grantor as licensor or licensee, granting any right under any Copyright,
or otherwise providing for a covenant not to sue for infringement or other violation of any Copyright, in each case to the extent
held by any Grantor.


 


“Copyrights”:
(i) all copyrights arising under the laws of the United States, any other country or group of countries or any political subdivision
thereof, whether registered or unregistered and whether published or unpublished (including, without limitation, those that are
registered with the United States Copyright Office listed on Schedule 5), all registrations and recordings thereof, and
all applications in connection therewith, including, without limitation, all registrations, recordings and applications in the
United States Copyright Office; (ii) the right to obtain all extensions and renewals thereof; (iii) the right to sue
or otherwise recover for any past, present and future infringement or other violation thereof; and (iv) all Proceeds of the
foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now
or hereafter due and/or payable with respect thereto.


 


“Credit Agreement”:
as defined in the recitals hereto.


 


“Discharge of
Obligations”: the earliest date on which the Loans, the Reimbursement Obligations and the other Obligations (other than
(i) contingent obligations for which no claim has been made, (ii) Cash Management Obligations and (iii) obligations
under Specified Swap Agreements) shall have been satisfied by payment in full in immediately available funds, the Commitments have
been terminated and no Letters of Credit shall be outstanding or all outstanding Letters of Credit have been Collateralized.


 


“Excluded Assets”:
as defined in the Credit Agreement.


 


“Excluded Subsidiary”:
as defined in the Credit Agreement.


 


“Grantors”:
as defined in the preamble hereto.


 


“Immaterial
Subsidiary”: as defined in the Credit Agreement.


 


“Intellectual
Property”: the collective reference to all rights, priorities and privileges relating to intellectual property, whether
arising under United States, multinational or foreign laws or otherwise, including, without limitation, (i) Copyrights, Patents,
Trademarks, Trade Secrets, mask works fixed in semi-conductor chip products (as defined under 17 U.S.C. 901 of the U.S. Copyright
Act), rights of publicity and privacy (i.e., the right to use names, likenesses, voices, biographical and other identifying information
of real persons), intangible rights in software and databases not otherwise included in the foregoing, (ii) all rights to
sue at law or in equity or otherwise recover for any past, present and future infringement, dilution, misappropriation or other
violation or impairment thereof, and (iii) the right to receive all Proceeds and damages therefrom and all payments and royalties
arising out of the sale, lease, license, assignment or other disposition thereof.


 






     - 3 -


     


    

 


“Intellectual
Property Licenses”: all agreements, licenses and covenants pursuant to which any Grantor receives or grants any right
in, to, or under, any Intellectual Property, including but not limited to, the right to manufacture, use, sell, perform, reproduce,
distribute, display, modify and otherwise exploit Copyrighted materials, Patented processes, devices or designs, or Trademarks,
or otherwise providing for a covenant not to sue for infringement, dilution or other violation of any Intellectual Property or
permitting co-existence with respect to any Intellectual property, including Copyright Licenses, Patent Licenses and Trademark
Licenses, in each case to the extent held by any Grantor.


 


“Intellectual
Property Registry”: the United States Patent and Trademark Office, and the United States Copyright Office.


 


“Intercompany
Obligations”: any and all Indebtedness of any Group Member that is owing to any Grantor.


 


“Intercreditor
Agreement”: as defined in Section 7.14.


 


“Investment
Account”: any Securities Account, Commodity Account or Deposit Account.


 


“Investment
Property”: the collective reference to (i) all “investment property” as such term is defined in Section 9-102(a)(49)
of the New York UCC (other than any Capital Stock excluded from the definition of “Pledged Stock” and any notes excluded
from the definition of “Pledged Notes”) and (ii) whether or not constituting “investment property”
as so defined, all Pledged Notes and all Pledged Stock.


 


“Issuers”:
the collective reference to each issuer of any Investment Property.


 


“Lenders”:
as defined in the recitals hereto.


 


“New York UCC”:
the Uniform Commercial Code as from time to time in effect in the State of New York.


 


“Obligations”:
as defined in the Credit Agreement.


 


“Original Currency”:
as defined in Section 7.15.


 


“Patent License”:
all agreements, licenses and covenants, whether written or oral, providing for the grant by or to any Grantor of any right under
any Patent, including, without limitation, the right to manufacture, use or sell any invention covered in whole or in part by a
Patent, or otherwise providing for a covenant not to sue for infringement or other violation of any Patent, in each case to the
extent held by any Grantor.


 


“Patents”:
(i) all United States and foreign patents and applications for letters patent throughout the world, including, but not limited
to, any of the foregoing that are issued or pending with the United States Patent and Trademark Office referred to on Schedule
5, and all rights corresponding thereto throughout the world; (ii) all reissues, divisions, continuations, continuations-in-part,
extensions, renewals, and reexaminations of any of the foregoing; (iii) the right to sue or otherwise recover for any past,
present and future infringement or other violation of any of the foregoing; and (iv) all Proceeds of the foregoing, including,
without limitation, licenses, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable
with respect thereto.


 






     - 4 -


     


    

 


“Pledged Notes”:
all promissory notes listed on Schedule 1 and all other promissory notes issued to or held by any Grantor evidencing an
amount in excess of $25,000,000; provided that “Pledged Notes” shall not at any time include Excluded Assets; provided,
further, that promissory notes which may not be pledged hereunder in accordance with the proviso to Section 2 shall
not constitute “Pledged Notes.”


 


“Pledged Stock”:
the shares of Capital Stock listed on Schedule 1, together with any other shares, securities, stock or security certificates,
options, interests or rights of any nature whatsoever in respect of the Capital Stock of any Person that may be issued or granted
to, or held by, any Grantor while this Agreement is in effect; provided that “Pledged Stock” shall not
at any time include Excluded Assets; provided, further, that Capital Stock which may not be pledged hereunder in
accordance with the proviso to Section 2 shall not constitute “Pledged Stock.”


 


“Proceeds”:
all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC and, in any event, shall include,
without limitation, all dividends or other income from the Investment Property, collections thereon or distributions or payments
with respect thereto.


 


“Receivable”:
any right to payment for goods or other property sold, leased, licensed or otherwise disposed of or for services rendered, whether
or not such right is evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including,
without limitation, any Account).


 


“Second Currency”
as defined in Section 7.14.


 


“Trademark License”:
any agreement, license or covenant, whether written or oral, providing for the grant by or to any Grantor of any right to use any
Trademark, or otherwise providing for a covenant not to sue for infringement, dilution or other violation of any Trademark or permitting
co-existence with respect to a Trademark, in each case to the extent held by any Grantor.


 


“Trademarks”:
(i) all U.S. federal and state and foreign trademarks, trade names, trade dress, corporate names, company names, business
names, internet domain names, fictitious business names, trade styles, service marks, certification marks, collective marks, logos
and other source or business identifiers, designs and general tangibles of a like nature, all registrations and recordings thereof,
and all applications in connection therewith, whether in the United States Patent and Trademark Office or in any similar office
or agency of the United States, or any other country or any political subdivision thereof, and all common-law rights related thereto,
including, without limitation, any of the foregoing that are registered or pending registration with the United States Patent and
Trademark Office referred to on Schedule 5, and all rights corresponding thereto throughout the world; (ii) all of
the goodwill of the business connected with the use of and symbolized by the foregoing; (iii) all extensions and renewals
of the foregoing; (iv) the right to sue or otherwise recover for any past, present and future infringement, dilution or other
violation of any of the foregoing or for any injury to goodwill; and (v) all Proceeds of the foregoing, including, without
limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable
with respect thereto.


 






     - 5 -


     


    

 


“Trade Secrets”:
(i) all trade secrets and all other confidential or proprietary information and know-how, whether or not such information
has been reduced to a writing or other tangible form, including all documents embodying or incorporating such information, (ii) the
right to sue or otherwise recover for any past, present and future misappropriation or other violation of any such information,
and (iii) all Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims,
damages, and proceeds of suit now or hereafter due and/or payable with respect thereto.


 


“UK Holdco”:
as defined in the recitals hereto.


 


“Uniform Commercial
Code”: the New York UCC or, when the laws of any other jurisdiction govern the method or manner of the perfection or
enforcement of any security interest in any of the Collateral, with respect to such Collateral, the Uniform Commercial Code (or
any successor statute) of such jurisdiction.


 


“Vehicles”:
all cars, trucks, trailers, construction and earth moving equipment and all other Equipment of any nature covered by a certificate
of title law of any jurisdiction and includes, without limitation, all tires and other appurtenances to any of the foregoing.


 


1.2          Other
Definitional Provisions. (a) The words “hereof”, “herein”, “hereto” and
 “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and
not to any particular provision of this Agreement, and Section and Schedule references are to the Sections and Schedules
of this Agreement (as such Schedules may be amended or supplemented from time to time) unless otherwise specified. The words
 “include”, “includes” and “including” shall be deemed to be followed by the phrase
 “without limitation.”


 


(b)           The
meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms.


 


(c)           Where
the context requires, terms relating to the Collateral or any part thereof, when used in relation to a Grantor, shall refer to
such Grantor’s Collateral or the relevant part thereof.


 


SECTION 2. GRANT OF SECURITY INTEREST


 


Each Grantor hereby grants
to the Collateral Agent, for the benefit of the Secured Parties, a security interest in all of the following property now owned
or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any
right, title or interest and wherever the same may be located (collectively, the “Collateral”), as collateral
security for the prompt and complete payment and performance, as the case may be, when due (whether at stated maturity, by acceleration
or otherwise) of such Grantor’s Obligations (including, without limitation, any extensions, modifications, substitutions,
amendments or renewals of any or all of such Obligations):


 






     - 6 -


     


    

 


(a)           all
Accounts;


 


(b)           all
Chattel Paper;


 


(c)           all
Commercial Tort Claims;


 


(d)           all
Contracts;


 


(e)            all
Deposit Accounts;


 


(f)            all
Documents;


 


(g)           all
Equipment;


 


(h)           all
General Intangibles;


 


(i)            all
Goods;


 


(j)            all
Instruments;


 


(k)           all
Intellectual Property and Intellectual Property Licenses;


 


(l)            all
Inventory;


 


(m)          all
Investment Property;


 


(n)           all
Letter of Credit Rights;


 


(o)           all
Money;


 


(p)           all
Receivables;


 


(q)           all
Vehicles;


 


(r)            all
other property not otherwise described above (except for property specifically excluded from any defined term used in any clause
above);


 


(s)           all
books and records pertaining to the Collateral; and


 


(t)            to
the extent not otherwise included, all Proceeds, Supporting Obligations and products of any and all of the foregoing and all collateral
security and guarantees given by any Person with respect to any of the foregoing;


 


provided that,
notwithstanding anything to the contrary herein, (x) this Agreement shall not constitute a grant of a security interest in
any Excluded Assets or in any assets that would be excluded pursuant to the Agreed Security Principles, (y) in no event shall
control agreements or perfection by control or similar arrangements be required by this Agreement with respect to any Collateral
(including deposit or securities accounts), other than in respect of (i)(A) 100% of the certificated Equity Interests in material
wholly-owned Restricted Subsidiaries of each of the Grantors otherwise constituting Collateral and required to be pledged pursuant
to the terms of this Agreement and (B) as provided in Section 4.1, and (ii) intercompany notes (including
the Global Intercompany Note) and other promissory notes held by a Borrower or a Guarantor that constitute Collateral evidencing
debt for borrowed money in a principal amount of at least $25,000,000, and (z) no filings in any Intellectual Property registry
or office shall be required other than with respect to Intellectual Property owned by any Grantor and material to the business
of UK Holdco and the Restricted Subsidiaries, taken as a whole, that is registered with or is the subject of a pending application
for registration with the United States Copyright Office or United States Patent and Trademark Office.


 






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SECTION 3. REPRESENTATIONS AND WARRANTIES


 


To induce the Collateral
Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their respective extensions of credit
to the Borrowers thereunder, each Grantor hereby represents and warrants to the Collateral Agent and each other Secured Party that:


 


3.1           Title;
No Other Liens. Except for the security interest granted to the Collateral Agent for the benefit of the Secured Parties
pursuant to this Agreement and the other Liens permitted to exist on the Collateral by the Credit Agreement, such Grantor owns
each item of the Collateral free and clear of any and all Liens or claims of others. No financing statement or other public notice
with respect to all or any part of the Collateral, in each case that is authorized by a Grantor, is on file or of record or will
be filed in any public office, except such as have been filed or will be filed in favor of the Collateral Agent, for the benefit
of the Secured Parties, pursuant to this Agreement or as are otherwise permitted by the Credit Agreement.


 


3.2           Perfected
First Priority Liens. Subject to the Agreed Security Principles, the Legal Reservations and the Perfection Requirements,
the security interests granted to the Collateral Agent pursuant to this Agreement (i) upon the filing of the financing statements
specified on Schedule 2 (which filings have been made or are contemporaneously being made with copies delivered to the
Collateral Agent) and the completion of the other actions required under this Agreement will constitute valid perfected security
interests in all of the Collateral (to the extent security interests in such Collateral are required to be perfected under the
terms of this Agreement) in favor of the Collateral Agent, for the benefit of the Secured Parties, as collateral security for
such Grantor’s Obligations, enforceable in accordance with the terms hereof against all creditors of such Grantor and any
Persons purporting to purchase any Collateral from such Grantor (except to the extent such enforceability may be limited by the
Legal Reservations)) and (ii) are prior to all other Liens on the Collateral in existence on the date hereof except for Permitted
Liens.


 


Subject to the Agreed
Security Principles, the Legal Reservations and the Perfection Requirements, to the extent perfection or priority of the security
interest therein is not subject to Article 9 of the UCC, upon the filings provided for in the immediately preceding sentence
above and the recordation of the security interests granted hereunder in issued, registered or applied for (as applicable) Patents,
Trademarks and Copyrights owned by such Grantor and exclusive Copyright Licenses in respect of registered Copyrights for which
such Grantor is the licensee in the United States Patent and Trademark Office and the United States Copyright Office, the security
interests granted to the Collateral Agent hereunder in such Collateral will constitute valid perfected first priority security
interests in such Collateral (subject to any Permitted Liens) (it being understood, for the avoidance of doubt, that no action
shall be required to be taken with respect to any registry outside of the United States).


 






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3.3           Jurisdiction
of Organization; Chief Executive Office. Such Grantor’s jurisdiction of organization, identification number from
the jurisdiction of organization, if any, and the location of such Grantor’s chief executive office or principal place of
business, as the case may be, in each case as of the Closing Date, are specified on Schedule 3, and except as provided
on Schedule 3, such Grantor has not changed its jurisdiction of organization or identification number in the five years
preceding the date hereof.


 


3.4           [Reserved].


 


3.5           Farm
Products. None of the Collateral constitutes, or is the Proceeds of, Farm Products.


 


3.6           Investment
Property. (a) The shares of Pledged Stock pledged by such Grantor hereunder constitute all the issued and
outstanding shares of all classes of the Capital Stock of each Issuer owned by such Grantor (other than the shares of Capital
Stock that are excluded from the definition of “Pledged Stock”).


 


(b)            All
the shares of, and other interests constituting, the Pledged Stock of each Subsidiary of such Grantor have been duly and validly
issued and (i) in the case of the Pledged Stock of each corporate Subsidiary, are fully paid and nonassessable and (ii) in
the case of the Pledged Stock of each limited liability company Subsidiary, are fully paid.


 


(c)            Such
Grantor is the record and beneficial owner of, and has title to, the Pledged Stock and Pledged Notes pledged by it hereunder, free
of any and all Liens, except the security interests created by this Agreement and other Permitted Liens.


 


3.7           Receivables.
No amount payable to such Grantor under or in connection with any Receivable is evidenced by any Instrument (other than checks,
drafts or other Instruments that will be promptly deposited in an Investment Account) evidencing an amount in excess of $25,000,000
which has not been delivered to the Collateral Agent.


 


3.8           Intellectual
Property. (a) Schedule 5 lists all registrations and applications in existence on the Closing Date for
material Copyrights, Patents and Trademarks owned by such Grantor that are registered or pending registration with the United
States Copyright Office or the United States Patent and Trademark Office.


 


(b)            Such
Grantor has performed all acts necessary and has paid all renewal, maintenance, and other fees and taxes required to maintain each
and every registration and application of Intellectual Property owned by such Grantor as of the date hereof and necessary for the
conduct in all material respects of the business of UK Holdco and the Restricted Subsidiaries, taken as a whole, as currently conducted,
in full force and effect.


 


(c)            Such
Grantor uses adequate standards, as determined in the reasonable good faith judgment of such Grantor, of quality in the manufacture,
distribution, and sale of all products sold and in the provision of all services rendered under or in connection with all Trademarks
necessary for the conduct in all material respects of the business of UK Holdco and the Restricted Subsidiaries, taken as a whole,
as currently conducted, and has taken all action necessary, in the reasonable good faith judgment of such Grantor, to require that
all licensees of the Trademarks owned by such Grantor and necessary for the conduct in all material respects of the business of
UK Holdco and the Restricted Subsidiaries, taken as a whole, as currently conducted use such adequate standards of quality.


 






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SECTION 4. COVENANTS


 


Each Grantor covenants
and agrees with the Collateral Agent and the other Secured Parties that, from and after the date of this Agreement until the Discharge
of Obligations, in each case subject to the Intercreditor Agreement:


 


4.1           Delivery
of Instruments, Certificated Securities and Chattel Paper.


 


(a)           If
any amount payable under or in connection with any of the Collateral shall be or become evidenced by (i) any Instrument (other
than (x) checks, drafts or other Instruments that will be promptly deposited in an Investment Account and (y) any Intercompany
Obligations) evidencing an amount in excess of $25,000,000, or (ii) any Certificated Security or Certificated Securities (in
each case, to the extent included in the Collateral), such Instrument or Certificated Security shall be promptly delivered to the
Collateral Agent, duly indorsed in a manner reasonably satisfactory to the Collateral Agent, to be held as Collateral pursuant
to this Agreement and in any event within thirty (30) days (or such later date as the Collateral Agent shall agree) after the date
such Grantor receives such Instrument, Chattel Paper or Certificated Security; provided that the Certificated Security with
respect to Information Ventures LLC shall not be required to be delivered until thirty (30) days after the Closing Date, or such
later date as the Collateral Agent may reasonably agree, to the extent such Certificated Security cannot be delivered prior to
such date after the use of commercially reasonable efforts to do so.


 


(b)           If
any Intercompany Obligation owing to such Grantor in an aggregate principal amount in excess of $25,000,000 shall be or become
evidenced in writing, such Grantor will, within thirty (30) days (or such longer period as the Collateral Agent may agree), cause
the obligor thereunder to execute and deliver to the Collateral Agent a promissory note as may be reasonably necessary to reflect
such Intercompany Obligation.


 


4.2           Maintenance
of Insurance. Within the period specified in Schedule 6.15 to the Credit Agreement, such Grantor shall use commercially
reasonable efforts to (i) cause such insurance to provide that no cancellation, material reduction in amount or material
change in coverage thereof shall be effective until at least thirty (30) days (or ten days in the case of non-payment of premium)
after receipt by the Collateral Agent of written notice thereof and (ii) cause such insurance to name the Collateral Agent
as an additional insured party or additional loss payee, as applicable.


 






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4.3           Maintenance
of Perfected Security Interest; Further Documentation. (a) Such Grantor shall maintain the security interests of
the Collateral Agent and the other Secured Parties created by this Agreement as perfected security interests (to the extent
such security interests are required to be perfected under the terms of this Agreement) having at least the priority
described in Section 3.2 and, subject to the Intercreditor Agreement, shall defend such security interests
against the claims and demands of all Persons whomsoever (other than (i) to the extent such claims or demands are based
on Permitted Liens and (ii) to the extent that the Collateral Agent and the Grantor agree that the cost of such defense
is excessive in relation to the benefit to the Secured Parties of the security interest and priority), subject to the rights
of such Grantor under the Loan Documents or with the written consent of the Collateral Agent in its sole discretion to
dispose of Collateral.


 


(b)           To
the extent required by law to be provided to perfect, register or enforce the relevant security interests, such Grantor will furnish
to the Collateral Agent from time to time (but, unless an Event of Default has occurred and continuing, not more than annually)
statements and schedules further identifying and describing the assets and property of such Grantor and such other reports in connection
therewith as the Collateral Agent may reasonably request, all in reasonable detail, in each case, subject to the Agreed Security
Principles.


 


(c)           At
any time and from time to time, upon the reasonable written request of the Collateral Agent, and at the sole expense of such Grantor,
such Grantor will promptly and duly execute and deliver, and have recorded, such further instruments and documents and take such
further actions as the Collateral Agent may reasonably request for the purpose of obtaining or preserving the full benefits of
this Agreement and of the rights and powers herein granted, including, without limitation, (i) authorizing the filing of any
financing or continuation statements under the Uniform Commercial Code (or other similar laws) in effect in any jurisdiction with
respect to the security interests created hereby and filing and (ii) recording documents necessary to record the Collateral
Agent’s and the other Secured Parties’ security interest in such Grantor’s Intellectual Property to the extent
that such Intellectual Property is material to the business of UK Holdco and the Restricted Subsidiaries, taken as a whole, in
any and all Intellectual Property Registries, in each case, subject to the Agreed Security Principles.


 


4.4           Changes
in Locations, Name, etc. Such Grantor will not


 


(a)           change
its name,


 


(b)           change
its type of organization as in effect on the Closing Date, or


 


(c)           change
its jurisdiction of organization, identification number from the jurisdiction of organization (if any), or the location of its
chief executive office or principal place of business, as appropriate, from that referred to in Section 3.3,


 


unless such Grantor shall deliver to the
Collateral Agent, on or before the date that is thirty (30) days (or such longer period as may be agreed to by the Collateral Agent)
following such event or occurrence (i) written notice thereof, (ii) if requested by the Collateral Agent, a written supplement
to Schedule 3 showing the new name, type of organization, jurisdiction of organization, identification number or location
of chief executive office or principal place of business, and (iii) all additional financing statements and other documents
reasonably requested by the Collateral Agent to maintain the validity, perfection and priority of the security interests provided
for herein.


 






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4.5           Investment
Property. (a) If such Grantor shall become entitled to receive or shall receive any certificate (including,
without limitation, any certificate representing a dividend or a distribution in connection with any reclassification,
increase or reduction of capital or any certificate issued in connection with any reorganization), in respect of the Capital
Stock of any Issuer included in the Collateral, whether in addition to, in substitution of, as a conversion of, or in
exchange for, any shares of the Pledged Stock, or otherwise in respect thereof, such Grantor shall accept the same as the
agent of the Collateral Agent and the other Secured Parties, hold the same in trust for the Collateral Agent and the other
Secured Parties and deliver the same within thirty (30) days (or such longer period as agreed by the Collateral Agent) to the
Collateral Agent in the exact form received, duly indorsed by such Grantor to the Collateral Agent, if required, together
with an undated stock power covering such certificate duly executed in blank by such Grantor to be held by the Collateral
Agent, subject to the terms hereof, as additional collateral security for the Obligations; provided that with respect
to the Pledged Stock, such Grantor shall not be required to deliver such certificate to the Collateral Agent to the extent
and for so long as such Capital Stock is not required by the Collateral Agent to be pledged or delivered hereunder pursuant
to Sections 6.9(b) or 6.9(c) of the Credit Agreement.


 


(b)           In
the case of each Grantor which is an Issuer, such Issuer agrees that (i) it will be bound by the terms of this Agreement relating
to the Capital Stock issued by it and will comply with such terms insofar as such terms are applicable to it, (ii) it will
notify the Collateral Agent promptly in writing of the occurrence of any of the events described in Section 4.5(a) with
respect to the Capital Stock issued by it and (iii) the terms of Section 5.7 shall apply to it, mutatis mutandis,
with respect to all actions that may be required of it pursuant to Section 5.7 with respect to the Capital Stock issued
by it.


 


4.6           Intellectual
Property. (a) Except as otherwise permitted under the Credit Agreement, such Grantor will, consistent with its
reasonable business judgment, (i) continue to use each Trademark that in such Grantor’s reasonable business
judgment is material to the business of UK Holdco and the Restricted Subsidiaries, taken as a whole, in order to maintain
such Trademark in full force free from any claim of abandonment for non-use and (ii) not do any act or knowingly omit to
do any act whereby any such Trademark may become invalidated or impaired in any way.


 


(b)           Except
as otherwise permitted under the Credit Agreement, such Grantor will, consistent with its reasonable business judgment, not do
any act, or omit to do any act, whereby any Patent that in such Grantor’s reasonable judgment is material to the business
of the Restricted Subsidiaries, taken as a whole, at the time of such action is thereby forfeited, rendered unenforceable, abandoned
or dedicated to the public.


 


(c)           Except
as otherwise permitted under the Credit Agreement, such Grantor will, consistent with its reasonable business judgment, (i) not
do any act or knowingly omit to do any act whereby any Copyright that in such Grantor’s reasonable judgment is material to
the business of UK Holdco and the Restricted Subsidiaries, taken as a whole, may become invalidated or otherwise impaired, (ii) not
do any act whereby any material portion of any such Copyright may fall into the public domain and (iii) after the Closing
Date, where warranted in its reasonable business judgment, use any statutory notice of registration in connection with use of its
material registered Trademarks, markings in connection with use of its material Patents, and notices of copyright in connection
with the publication of its material Copyrights, in each instance as required by law.


 


(d)           Such
Grantor will notify the Collateral Agent promptly if it knows, or has reason to know, that any registration relating to any Intellectual
Property that in such Grantor’s reasonable judgment is material to the business of UK Holdco and the Restricted Subsidiaries,
taken as a whole, at the time has been forfeited, rendered unenforceable, abandoned or dedicated to the public, or has been the
subject of an adverse determination before an Intellectual Property Registry or court or tribunal in any country regarding such
Grantor’s ownership of, or the validity or enforceability of, any such material Intellectual Property or such Grantor’s
right to register the same or to own and maintain the same, except for Dispositions permitted under the Credit Agreement.


 






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(e)          In
the event that any Intellectual Property owned by such Grantor and material to the business of the UK Holdco and the Restricted
Subsidiaries, taken as a whole, is infringed, misappropriated or otherwise violated by a third party, such Grantor shall at such
Grantor’s sole cost and expense, take such actions as such Grantor shall reasonably deem appropriate under the circumstances
relating to such Intellectual Property.


 


(f)          Nothing
in this Agreement shall prevent any Grantor from disposing of, discontinuing the use or maintenance of, failing to pursue or otherwise
allowing to lapse, terminate or put into the public domain any of its Intellectual Property or Intellectual Property Licenses to
the extent permitted by the Credit Agreement and if such Grantor determines in its reasonable business judgment that such discontinuance
is desirable in the conduct of its business or the Intellectual Property or Intellectual Property License is not useful to its
business or worth protecting or maintaining.


 


(g)          Such
Grantor will, consistent with its reasonable business judgment, take all reasonable and necessary steps , including, without limitation,
in any proceeding before any Intellectual Property Registry to maintain and pursue each material application (and to obtain the
relevant registration) and to maintain each registration of Intellectual Property that in such Grantor’s reasonable judgment
is material to the business of UK Holdco and the Restricted Subsidiaries, taken as a whole, at the time, including, without limitation,
filing of applications for renewal, affidavits of use and affidavits of incontestability.


 


(h)          If,
after the Closing Date, such Grantor acquires or applies for any new issued, registered or applied for (as applicable) Patents,
Trademarks and Copyrights or exclusive Copyright Licenses in respect of registered Copyrights for which such Grantor is the licensee
in the United States Patent and Trademark Office or the United States Copyright Office that were not included in previous reports
to the Collateral Agent (except for issuances or registrations that result from previously-existing applications, and except for
such assets that were sold, transferred or otherwise disposed of), such Grantor will, on or prior to the latest of (i) 60
days after such acquisition or application, (ii) the date on which financial statements are required to be delivered pursuant
to Sections 6.1(a) or 6.1(b) of the Credit Agreement, as applicable, with respect to the fiscal quarter
in which such assets were acquired or applied for or (iii) such later date as the Collateral Agent shall reasonably agree,
deliver to the Collateral Agent a list of any such newly acquired or applied for assets to allow US Intellectual Property Security
Agreements with respect to such assets to be filed at the United States Patent and Trademark Office and the United States Copyright
Office, as applicable.


 






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SECTION 5. REMEDIAL PROVISIONS


 


Each Grantor covenants
and agrees with the Collateral Agent and the other Secured Parties that, from and after the date of this Agreement until the Discharge
of Obligations:


 


5.1           Certain
Matters Relating to Receivables. (a) The Collateral Agent hereby authorizes each Grantor to collect such Grantor’s Receivables
and the Collateral Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of
an Acceleration Event. Upon written request of the Collateral Agent at any time after the occurrence and during the continuance
of an Acceleration Event, any payments of Receivables, when collected by any Grantor, (i) shall be forthwith (and, in any event,
within two Business Days) deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the Collateral
Agent if required, in a Collateral Account maintained under the sole dominion and control of the Collateral Agent, subject to
withdrawal by the Collateral Agent for the account of the Secured Parties only as provided in Section 5.5, and (ii) until
so turned over, shall be held by such Grantor in trust for the Collateral Agent and the other Secured Parties, segregated from
other funds of such Grantor. After the occurrence and during the continuance of an Acceleration Event, if requested by the Collateral
Agent, each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature
and source of the payments included in the deposit.


 


(b)        
[Reserved.]


 


(c)        
At the Collateral Agent’s written request, after the occurrence and during the continuance of an Acceleration Event,
each Grantor shall deliver to the Collateral Agent all original and other documents evidencing, and relating to, the agreements
and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping
receipts.


 


(d)        
[Reserved.]


 


5.2           Communications
with Obligors; Grantors Remain Liable. (a) The Collateral Agent in its own name or in the name of others may at any time after
the occurrence and during the continuance of an Acceleration Event, communicate with obligors under the Receivables to verify
with them to the Collateral Agent’s satisfaction the existence, amount and terms of any Receivables.


 


(b)        
[Reserved.]


 






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(c)        
Upon the request of the Collateral Agent, at any time after the occurrence and during the continuance of an Acceleration
Event, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Collateral Agent for
the benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Collateral Agent.


 


(d)          [Reserved.]


 


(e)          Anything
herein to the contrary notwithstanding, each Grantor shall remain liable under each of the Receivables to observe and perform
all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement
giving rise thereto. Neither the Collateral Agent nor any other Secured Party shall have any obligation or liability under any
Receivable (or any agreement giving rise thereto) or Contract of any Grantor by reason of or arising out of this Agreement or
the receipt by the Collateral Agent or any other Secured Party of any payment relating thereto, nor shall the Collateral Agent
or any other Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any
Receivable (or any agreement giving rise thereto) or Contract of any Grantor, to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to
present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have
been assigned to it or to which it may be entitled at any time or times.


 


5.3           Investment
Property. (a) Unless an Acceleration Event shall have occurred and be continuing and the Collateral Agent shall have
given prior written notice to the relevant Grantor of the Collateral Agent’s intent to exercise its corresponding rights
pursuant to Section 5.3(b), each Grantor shall be permitted to receive all cash dividends paid in respect of the Pledged
Stock and all payments made in respect of the Pledged Notes, to the extent permitted by the Credit Agreement, and to exercise
all voting and corporate or other organizational rights with respect to the Investment Property; provided, however,
that no vote shall be cast or corporate or other organizational right exercised or other actions taken which would adversely affect
the validity or enforceability of the security or cause an Acceleration Event (except as otherwise permitted by the Credit Agreement).


 


(b)           If
an Acceleration Event shall occur and be continuing and the Collateral Agent shall have given prior written notice of its intent
to exercise such rights to any Grantor, (i) the Collateral Agent shall have the right to receive any and all cash dividends,
payments or other Proceeds paid in respect of the Investment Property and make application thereof to the Obligations in accordance
with the Credit Agreement, and (ii) any or all of the Investment Property shall be registered in the name of the Collateral
Agent or its nominee (as pledgee or as sub-agent), and the Collateral Agent or its nominee (as pledgee or as sub-agent) may thereafter
exercise (x) all voting, corporate and other rights pertaining to such Investment Property at any meeting of shareholders
of the relevant Issuer or Issuers or otherwise and (y) any and all rights of conversion, exchange and subscription and any
other rights, privileges or options pertaining to such Investment Property as if it were the absolute owner thereof (including,
without limitation, the right to exchange at its discretion any and all of the Investment Property upon the merger, consolidation,
reorganization, recapitalization or other fundamental change in the corporate or other organizational structure of any Issuer,
or upon the exercise by any Grantor or the Collateral Agent of any right, privilege or option pertaining to such Investment Property,
and in connection therewith, the right to deposit and deliver any and all of the Investment Property with any committee, depositary,
transfer agent, registrar or other designated agency upon such terms and conditions as the Collateral Agent may determine is necessary
or advisable to accomplish the purposes hereof), all without liability except to account for property actually received by it,
but the Collateral Agent shall have no duty to any Grantor or any Secured Party to exercise any such right, privilege or option
and shall not be responsible to any Person for any failure to do so or delay in so doing.


 






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(c)           [Reserved.]


 


(d)           Each
Grantor hereby authorizes and instructs each Issuer of any Pledged Stock or Pledged Notes pledged by such Grantor hereunder to
(i) comply with any instruction received by it from the Collateral Agent in writing that (x) states that an Acceleration
Event has occurred and is continuing and (y) is otherwise in accordance with the terms of this Agreement, without any other
or further instructions from such Grantor, and (ii) upon the request of the Collateral Agent made during the continuance of
an Acceleration Event, pay any dividends or other payments with respect to the Pledged Stock and Pledged Notes directly to the
Collateral Agent.


 


5.4           Proceeds
to be Turned Over to Collateral Agent. In addition to the rights of the Collateral Agent and the other Secured Parties
specified in Section 5.1 with respect to payments of Receivables, if an Acceleration Event shall occur and be continuing
and the Collateral Agent shall have given written notice of its intent to exercise its rights and remedies under this Section 5.4,
all Proceeds received by any Grantor consisting of cash, checks and Cash Equivalents shall be held by such Grantor in trust for
the Collateral Agent and the other Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt
by such Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly indorsed by such Grantor
to the Collateral Agent, if required). All Proceeds received by the Collateral Agent hereunder shall be held by the Collateral
Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while held by the Collateral Agent
in a Collateral Account (or by such Grantor in trust for the Collateral Agent and the other Secured Parties) shall continue to
be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided in Section 5.5.
The Collateral Agent shall have no duty to any Grantor or any Notes Secured Party to exercise any such right, privilege or option
and shall not be responsible to any Person for any failure to do so or delay in so doing.


 


5.5           Application
of Proceeds. If an Acceleration Event shall have occurred and be continuing, the Collateral Agent may apply, at such
time or times as the Collateral Agent may elect, all or any part of Proceeds constituting Collateral, whether or not held in any
Collateral Account, in payment of the Obligations in the order set forth in Section 9.5 of the Credit Agreement and
subject in all respects to the Intercreditor Agreement.


 






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5.6           Code
and Other Remedies.


 


(a)           If
an Acceleration Event shall occur and be continuing, the Collateral Agent, on behalf of the Secured Parties, may (subject to the
Intercreditor Agreement) exercise, in addition to all other rights and remedies granted to it in this Agreement and in any other
instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party under the
New York UCC or any other applicable law or in equity.


 


(b)           Without
limiting the generality of the foregoing clause (a), if an Acceleration Event shall occur and be continuing, the Collateral Agent,
without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required
by law) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby
waived), may (subject to the Intercreditor Agreement) in such circumstances forthwith collect, receive, appropriate and realize
upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise
dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public
or private sale or sales, at any exchange, broker’s board or office of the Collateral Agent or any other Secured Party or
elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit
or for future delivery without assumption of any credit risk. The Collateral Agent or any other Secured Party shall have the right
upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole
or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby
waived and released. Each Grantor further agrees, at the Collateral Agent’s request, to assemble the Collateral and make
it available to the Collateral Agent at places which the Collateral Agent shall reasonably select, whether at such Grantor’s
premises or elsewhere.


 


(c)           [Reserved.]


 


(d)           The
Collateral Agent shall (subject to the Intercreditor Agreement) apply the net proceeds of any action taken by it pursuant to this
Section 5.6, after deducting all reasonable costs and expenses of every kind incurred in connection therewith or incidental
to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Collateral Agent
and the other Secured Parties hereunder, including, without limitation, reasonable attorneys’ fees and disbursements, to
the payment in whole or in part of the Obligations in accordance with Section 5.5, in such order as the Collateral
Agent may elect, and only after such application and after the payment by the Collateral Agent of any other amount required by
any provision of law, including, without limitation, Section 9-615(a)(3) of the New York UCC, need the Collateral Agent
account for the surplus, if any, to any Grantor. To the extent permitted by applicable law, each Grantor waives all rights of redemption,
stay and appraisal that such Grantor now has or may at any time in the future have under any rule of law or statute now existing
or hereafter enacted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice
shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition.


 






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5.7           Registration
Rights. (a) If the Collateral Agent shall determine to exercise its right (subject to the Intercreditor Agreement)
to sell any or all of the Pledged Stock of any Grantor or a Restricted Subsidiary thereof pursuant to Section 5.6,
and if in the reasonable opinion of the Collateral Agent it is necessary or advisable to have such Pledged Stock, or that portion
thereof to be sold, registered under the provisions of the Securities Act, the relevant Grantor will cause the Issuer thereof
to (i) execute and deliver, and cause the directors and officers of such Issuer to execute and deliver, all such instruments
and documents, and do or cause to be done all such other acts as may be, in the opinion of the Collateral Agent, necessary or
advisable to register the Pledged Stock, or that portion thereof to be sold, under the provisions of the Securities Act, (ii) use
its commercially reasonable efforts to cause the registration statement relating thereto to become effective and to remain effective
for a period of one year from the date of the first public offering of the Pledged Stock, or that portion thereof to be sold,
and (iii) make all amendments thereto and/or to the related prospectus which, in the reasonable opinion of the Collateral
Agent, are necessary or advisable, all in conformity with the requirements of the Securities Act and the rules and regulations
of the Securities and Exchange Commission applicable thereto. Each Grantor agrees to cause such Issuer to comply with the provisions
of the securities or “Blue Sky” laws of any and all jurisdictions which the Collateral Agent shall designate and to
make available to its security holders, as soon as practicable, an earnings statement which will satisfy the provisions of Section 11(a) of
the Securities Act.


 


(b)           Each
Grantor recognizes that the Collateral Agent may be unable to effect a public sale of any or all the Pledged Stock, by reason of
certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise, and may be compelled to
resort to one or more private sales thereof to a restricted group of purchasers which will be obliged to agree, among other things,
to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. Each
Grantor acknowledges and agrees that any such private sale may result in prices and other terms less favorable than if such sale
were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made
in a commercially reasonable manner. The Collateral Agent shall be under no obligation to delay a sale of any of the Pledged Stock
for the period of time necessary to permit the Issuer thereof to register such securities for public sale under the Securities
Act, or under applicable state securities laws, even if such Issuer would agree to do so.


 


(c)           Each
Grantor agrees to use commercially reasonable efforts to do or cause to be done all such other acts as may be necessary to make
such sale or sales of all or any portion of the Pledged Stock pursuant to this Section 5.7 valid and binding and in
compliance with any applicable Requirement of Law.


 


5.8           Intellectual
Property.


 


(a)           Anything
contained herein to the contrary notwithstanding:


 


(i)            upon
the occurrence and during the continuation of an Acceleration Event, the Collateral Agent shall have the right (but not the obligation)
to bring suit or otherwise commence any action or proceeding in the name of such Grantor, the Collateral Agent or otherwise, in
the Collateral Agent's sole discretion, to enforce any Intellectual Property of such Grantor, in which event such Grantor shall,
at the request of the Collateral Agent, do any and all lawful and reasonable acts and execute any and all documents reasonably
required by the Collateral Agent in aid of such enforcement.


 






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(ii)          [Reserved.]


 


(iii)         such
Grantor shall promptly, upon demand, reimburse and indemnify the Collateral Agent to the extent provided in the Indenture, and,
to the extent that the Collateral Agent shall elect not to bring suit to enforce any Intellectual Property as provided in this
Section, such Grantor agrees to use all measures it deems appropriate in its reasonable business judgment, whether by action, suit,
proceeding or otherwise, to prevent the infringement, misappropriation, dilution or other violation of any of such Grantor's rights
in such Intellectual Property by others and to the extent reasonable agrees to diligently maintain any action, suit or proceeding
against any Person so infringing, misappropriating, diluting or otherwise violating as shall be necessary to prevent such infringement,
misappropriation, dilution or violation;


 


(iv)         upon
the occurrence and during the continuation of an Acceleration Event, upon written demand from the Collateral Agent, such Grantor
shall grant, assign, convey or otherwise transfer to the Collateral Agent an absolute assignment of all of such Grantor's right,
title and interest in and to its Intellectual Property, including the right to sue for past, present and future infringement, dilution,
misappropriation, or other violation or impairment thereof, and shall execute and deliver to the Collateral Agent such documents
as are necessary or appropriate to carry out the intent and purposes of this Agreement;


 


(v)          [Reserved];


 


(vi)         such
Grantor agrees that such an assignment and/or recording referred to in Section 5.8(a)(iv) shall be applied to
reduce the Obligations outstanding only to the extent that the Collateral Agent (or any Secured Party) receives cash proceeds in
respect of the sale of, or other realization upon, the applicable Intellectual Property; and


 


(vii)        upon
the occurrence and during the continuation of an Acceleration Event, the Collateral Agent shall have the right (subject to the
Intercreditor Agreement) to notify, or require such Grantor to notify, any obligors with respect to amounts due or to become due
to such Grantor in respect of its Intellectual Property, of the existence of the security interest created herein, to direct such
obligors to make payment of all such amounts directly to the Collateral Agent, and, upon such notification and at the expense of
such Grantor, to enforce collection of any such amounts and to adjust, settle or compromise the amount or payment thereof, in the
same manner and to the same extent as such Grantor might have done;


 


(A)            all
amounts and proceeds (including checks and other instruments) received by such Grantor in respect of amounts due to such Grantor
in respect of the Collateral or any portion thereof shall be received in trust for the benefit of the Collateral Agent hereunder,
shall be segregated from other funds of such Grantor and shall be forthwith paid over or delivered to the Collateral Agent in the
same form as so received (with any necessary endorsement) to be held as cash Collateral and applied in such order as the Collateral
Agent may determine; and


 






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(B)            no
Grantor shall adjust, settle or compromise the amount or payment of any such amount or release wholly or partly any obligor with
respect thereto or allow any credit or discount thereon.


 


(b)          If
(i) an Acceleration Event shall have occurred and, by reason of cure, waiver, modification, amendment or otherwise, no longer
be continuing, (ii) an assignment or other transfer to the Collateral Agent of any rights, title and interests in and to the
Intellectual Property shall have been previously made and shall have become absolute and effective, and (iii) the Obligations
shall not have become immediately due and payable, upon the written request of any Grantor, the Collateral Agent shall promptly
execute and deliver to such Grantor, at such Grantor's sole cost and expense, such assignments or other transfer as may be necessary
to reassign to such Grantor any such rights, title and interests as may have been assigned to the Collateral Agent as aforesaid,
subject to any disposition thereof that may have been made by the Collateral Agent; provided that after giving effect to
such reassignment, the Collateral Agent's security interest granted pursuant hereto, as well as all other rights and remedies of
the Collateral Agent granted hereunder, shall continue to be in full force and effect; and provided, further, that
the rights, title and interests so reassigned shall be free and clear of any other Liens granted by or on behalf of the Collateral
Agent and the Secured Parties.


 


(c)          Solely
for the purpose of enabling the Collateral Agent to exercise rights and remedies under this Section 5.8 and at such
time as the Collateral Agent shall be lawfully entitled to exercise such rights and remedies, such Grantor hereby grants to the
Collateral Agent for the benefit of the Secured Parties, an irrevocable, non-exclusive, fully paid-up, worldwide license or (for
third-party rights) sublicense to use, license or sublicense any of the Intellectual Property now owned, licensed (to the fullest
extent permitted by such license), held for use or hereafter acquired by such Grantor (exercisable only during the continuance
of an Acceleration Event and without payment of royalty or other compensation to such Grantor), provided that such license shall
be granted only to the extent such grant does not result in the breach of any license or similar agreement with a third party (provided
that such third party license or similar agreement was not entered into in contemplation of such grant), and subject, in the case
of Trademarks, to sufficient rights to quality control and inspection in favor of such Grantor to avoid the risk of invalidation
of said Trademarks. Such license or sublicense shall include access to all media in which any of the applicable Intellectual Property
may be recorded, processed or stored and all computer programs related thereto.


 


5.9           Deficiency.
Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient
to pay its Obligations and the fees and disbursements of the Collateral Agent or any Secured Party and any attorneys or other
agents employed by the Collateral Agent or any other Secured Party to collect such deficiency, in each case, subject to the limitations
set forth in Section 11.5 of the Credit Agreement.


 






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SECTION 6. THE COLLATERAL AGENT


 


Each Grantor covenants
and agrees with the Collateral Agent and the other Secured Parties that:


 


6.1           Collateral
Agent’s Appointment as Attorney-in-Fact, etc. (a) Each Grantor hereby irrevocably constitutes and appoints the
Collateral Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with
full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name,
in each case, from time to time after the occurrence and during the continuance of an Acceleration Event, in the Collateral Agent’s
sole discretion, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute
any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without
limiting the generality of the foregoing, each Grantor hereby gives the Collateral Agent the power and right, on behalf of such
Grantor, without notice to or assent by such Grantor, to do any or all of the following during the continuance of an Acceleration
Event:


 


(i)            in
the name of such Grantor or its own name, or otherwise, take possession of and indorse and collect any checks, drafts, notes, acceptances
or other instruments for the payment of moneys due under any Receivable or Contract or with respect to any other Collateral and
file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Collateral
Agent for the purpose of collecting any and all such moneys due under any Receivable or Contract or with respect to any other Collateral
whenever payable;


 


(ii)           in
the case of any Intellectual Property and Intellectual Property Licenses, execute and deliver, and have recorded, any and all agreements,
instruments, documents and papers as the Collateral Agent may request to evidence the Collateral Agent’s and the other Secured
Parties’ security interest in such Intellectual Property and Intellectual Property Licenses and the goodwill and general
intangibles of such Grantor relating thereto or represented thereby;


 


(iii)          pay
or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance called
for by the terms of this Agreement and pay all or any part of the premiums therefor and the costs thereof;


 


(iv)          execute,
in connection with any sale provided for in Section 5.6 or 5.7, any indorsements, assignments or other instruments
of conveyance or transfer with respect to the Collateral; and


 






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(v)           (1) 
direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due
thereunder directly to the Collateral Agent or as the Collateral Agent shall direct; (2) ask or demand for, collect, and receive
payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising
out of any Collateral; (3) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse
receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral;
(4) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to
collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (5) defend any
suit, action or proceeding brought against such Grantor with respect to any Collateral; (6) settle, compromise or adjust any
such suit, action or proceeding and, in connection therewith, give such discharges or releases as the Collateral Agent may in its
sole discretion deem appropriate; (7) assign and/or license any Copyright, Patent or Trademark (along with the goodwill of
the business to which any such Copyright, Patent or Trademark pertains) throughout the world (in each case, to the extent included
in the Collateral) for such term or terms, on such conditions, and in such manner, as the Collateral Agent shall in its sole discretion
determine; and (8) generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of
the Collateral as fully and completely as though the Collateral Agent were the absolute owner thereof for all purposes, and do,
at the Collateral Agent’s option and such Grantor’s expense, at any time, or from time to time, all acts and things
which the Collateral Agent deems necessary to protect, preserve or realize upon the Collateral and the Collateral Agent’s
and the other Secured Parties’ security interests therein and to effect the intent of this Agreement, all as fully and effectively
as such Grantor might do.


 


(b)           During
the continuance of an Acceleration Event, if any Grantor fails to perform or comply with any of its agreements contained herein,
the Collateral Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance
or compliance, with such agreement.


 


(c)           [Reserved.]


 


(d)           Each
Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof or otherwise in accordance
with applicable laws. All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are
irrevocable until this Agreement is terminated and the security interests created hereby are released.


 


6.2           Duty
of Collateral Agent. The Collateral Agent’s sole duty with respect to the custody, safekeeping and physical preservation
of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with
it in the same manner as the Collateral Agent deals with similar property for its own account. Neither the Collateral Agent, any
other Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand,
collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise
dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever with regard
to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The
powers conferred on the Collateral Agent and the other Secured Parties hereunder are solely to protect the Collateral Agent’s
and the other Secured Parties’ interests in the Collateral and shall not impose any duty upon the Collateral Agent or any
other Secured Party to exercise any such powers. The Collateral Agent and the other Secured Parties shall be accountable only
for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers,
directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own
gross negligence, bad faith or willful misconduct as determined in a final non-appealable judgment of a court competent jurisdiction
(and each Grantor waives all claims, damages and demands against the Collateral Agent or the other Secured Parties arising from
such acts or failure to act to the fullest extent permitted by applicable law).


 






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6.3           Authorization
for Filing Financing Statements. Pursuant to any applicable law, each Grantor authorizes the Collateral Agent to file
or record financing statements and other filing or recording documents or instruments with respect to the Collateral without the
signature of such Grantor in such form and in such offices as the Collateral Agent reasonably determines necessary and appropriate
to perfect the security interests of the Collateral Agent (for the benefit of the Secured Parties) under this Agreement. Each
Grantor authorizes the Collateral Agent to use the collateral description “all personal property, whether now owned or hereafter
acquired”, “all assets of the Debtor, whether now existing or hereafter arising” or any other similar collateral
description in any such financing statements.


 


6.4           Authority
of Collateral Agent. Each Grantor acknowledges that the rights and responsibilities of the Collateral Agent under this
Agreement with respect to any action taken by the Collateral Agent or the exercise or non-exercise by the Collateral Agent of
any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement
shall, as between the Collateral Agent and the other Secured Parties, be governed by the Credit Agreement, but, as between the
Collateral Agent and the Grantors, the Collateral Agent shall be conclusively presumed to be acting as agent for the Secured Parties
with full and valid authority so to act or refrain from acting.


 


SECTION 7. MISCELLANEOUS


 


7.1           Amendments
in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified
except in accordance with Section 11.1 of the Credit Agreement or as otherwise provided herein or in the Intercreditor
Agreement.


 


7.2           Notices.
All notices, requests and demands to or upon the Collateral Agent or any Grantor hereunder shall be in writing and effected in
the manner provided for in Section 11.2 of the Credit Agreement.


 






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7.3           No
Waiver by Course of Conduct; Cumulative Remedies. Neither the Collateral Agent nor any other Secured Party shall by
any act (except by a written instrument pursuant to Section 7.1) delay, indulgence, omission or otherwise be deemed
to have waived any right or remedy hereunder or to have acquiesced in any Event of Default or Acceleration Event, as applicable.
No (x) failure to exercise, nor any delay in exercising, on the part of the Collateral Agent or any other Secured Party,
any right, power or privilege hereunder or (y) abandonment or discontinuance on the part of the Collateral Agent or any other
Secured Party of steps to enforce such a right, power or privilege hereunder shall, in any such case, operate as a waiver thereof.
No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof
or the exercise of any other right, power or privilege. A waiver by the Collateral Agent or any other Secured Party of any right
or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Collateral Agent or such
other Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be
exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. Any waiver or consent
by the Collateral Agent or any other Secured Party shall be effective only for the specific instance and purpose for which it
is given. No notice to or demand on the Grantors in any case shall entitle the Grantors to any other or further notice or demand
in similar or other circumstances.


 


7.4           Successors
and Assigns. This Agreement shall be binding upon the successors and assigns of each Grantor and shall inure to the
benefit of the Collateral Agent and each other Secured Party and their respective successors and permitted assigns; provided
that, except as permitted by the Credit Agreement (including Section 11.6 thereof), no Grantor may assign, transfer
or delegate any of its rights or obligations under this Agreement without the prior written consent of the Collateral Agent.


 


7.5           Counterparts.
This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including
by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.


 


7.6           Severability.
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.


 


7.7           Section Headings.
The Section headings used in this Agreement are for convenience of reference only and are not to affect the construction
hereof or be taken into consideration in the interpretation hereof.


 


7.8           Integration.
This Agreement and the other Loan Documents represent the agreement of the Grantors, the Collateral Agent and the other Secured
Parties with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties
by the Collateral Agent or any other Secured Party relative to subject matter hereof and thereof not expressly set forth or referred
to herein or in the other Loan Documents.


 


7.9           Governing
Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY,
AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES
THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION (OTHER THAN ANY MANDATORY PROVISIONS OF THE UNIFORM COMMERCIAL
CODE RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT OF PERFECTION OF THE SECURITY INTEREST).


 






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7.10         Submission
to Jurisdiction; Waivers. EACH GRANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY:


 


(a)            SUBMITS
FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND ANY OTHER LOAN DOCUMENT TO WHICH IT
IS A PARTY, OR FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE EXCLUSIVE GENERAL JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK, THE COURTS OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM
ANY THEREOF, TO THE EXTENT SUCH COURTS WOULD HAVE SUBJECT MATTER JURISDICTION WITH RESPECT THERETO, AND AGREES THAT NOTWITHSTANDING
THE FOREGOING (X) A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW AND (Y) LEGAL ACTIONS OR PROCEEDINGS BROUGHT
BY THE SECURED PARTIES IN CONNECTION WITH THE EXERCISE OF RIGHTS AND REMEDIES WITH RESPECT TO COLLATERAL MAY BE BROUGHT IN
OTHER JURISDICTIONS WHERE SUCH COLLATERAL IS LOCATED OR SUCH RIGHTS OR REMEDIES MAY BE EXERCISED;


 


(b)            CONSENTS
THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER
HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT AND WAIVES ANY RIGHT TO CLAIM THAT SUCH ACTION OR PROCEEDING
WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME;


 


(c)            AGREES
THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED
MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE
WITH SECTION 11.2 OF THE CREDIT AGREEMENT OR AT SUCH OTHER ADDRESS OF WHICH THE COLLATERAL AGENT SHALL HAVE BEEN NOTIFIED
PURSUANT THERETO;


 


(d)            AGREES
THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW;


 


(e)            WAIVES,
TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY LEGAL ACTION OR PROCEEDING REFERRED
TO IN THIS SECTION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES; AND


 


(f)            WAIVES
TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM
THEREIN.


 






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(g)            Each
Grantor hereby irrevocably appoints the Borrower Representative to accept and acknowledge service of any and all process which
may be served in any suit, action or proceeding of the nature referred to in this Section 7.10 and consents to process
being served in any such suit, action or proceeding upon any Grantor in any manner or by the mailing of a copy thereof by registered
or certified mail, postage prepaid, return receipt requested, to such Grantor’s address referred to in Section 11.2
of the Credit Agreement, as the case may be. Each Grantor agrees that such service (i) shall be deemed in every respect effective
service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable
Laws, be taken and held to be valid personal service upon and personal delivery to it. Nothing in this Section 7.10
shall affect the right of any Secured Party to serve process in any manner permitted by applicable Laws or limit the right of any
Secured Party to bring proceedings against a Grantor in the courts of any jurisdiction or jurisdictions.


 


7.11         Acknowledgements.
Each Grantor hereby acknowledges that:


 


(a)            it
has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents to which
it is a party;


 


(b)            neither
the Collateral Agent nor any other Secured Party has any fiduciary relationship with or duty to any Grantor arising out of or in
connection with this Agreement or any of the other Loan Documents, and the relationship between the Grantors, on the one hand,
and the Collateral Agent and the other Secured Parties, on the other hand, in connection herewith or therewith is solely that of
debtor and creditor; and


 


(c)            no
joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby
among any of the Secured Parties or among the Grantors and any of the Secured Parties.


 


7.12         Additional
Grantors.  Each Restricted Subsidiary that is required to become a party to this Agreement pursuant to Section 6.9 of
the Credit Agreement shall become a Grantor for all purposes of this Agreement upon execution and delivery by such
Subsidiary of an Assumption Agreement in the form of Annex I hereto.


 


7.13         Releases.
(a) Upon the Discharge of Obligations, the Collateral shall be automatically and without further action released from the
Liens in favor of the Collateral Agent and the other Secured Parties created hereby, this Agreement shall terminate with
respect to the Collateral Agent and the other Secured Parties, and all obligations (other than those expressly stated to
survive such termination) of each Grantor to the Collateral Agent or any other Secured Party hereunder shall terminate, all
without delivery of any instrument or performance of any act by any party. At the sole expense of any Grantor following any
such termination, the Collateral Agent shall promptly deliver such documents as such Grantor shall reasonably request to
evidence such release and termination.


 






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(b)            If
any of the Collateral shall be sold, transferred or otherwise disposed of by any Grantor in a sale, transfer or other disposition
not prohibited by the Credit Agreement other than with respect to a sale, transfer or other disposition to another Grantor, then
such Collateral shall be automatically and without further action released from the security interests created by this Agreement.
If (x) any Capital Stock issued by any Excluded Subsidiary that is directly owned by a Borrower or Guarantor is redeemed by
such Excluded Subsidiary, (y) the Borrower Representative has determined that a Subsidiary has become an Excluded Subsidiary,
or a Subsidiary thereof (provided that, in the case of this clause (y), the Borrower Representative shall provide reasonably
prompt notice to the Collateral Agent of such determination; provided further that, any failure by the Borrower Representative
to provide such notice shall not in any way affect the automatic release of such shares as set forth herein), then such shares
of the relevant Issuer shall be automatically and without further action released from the security interests created by this Agreement
so that the shares of Capital Stock of such Subsidiary subject to the security interests created by this Agreement shall not include
more than 65% of the total Capital Stock of such Subsidiary that is directly owned by a Borrower or Guarantor or at any time include
any shares of Capital Stock of any Excluded Subsidiary that is not directly owned by a Borrower or Guarantor or at any time include
Excluded Assets, and any certificates representing such released Capital Stock shall be returned to the applicable Grantor. If
a Grantor is disposed of pursuant to a transaction not prohibited by the Credit Agreement, becomes an Excluded Subsidiary or is
otherwise released from its guarantee of the Obligations pursuant to the Credit Agreement, such Grantor shall be automatically
and without further action released from its obligations under this Agreement. In each case, the Collateral Agent, at the request
and sole expense of such Grantor, shall execute and deliver to such Grantor all releases or other documents reasonably necessary
or desirable for the termination and release of the Liens created hereby on Collateral of such Grantor, or such Grantor, as applicable.


 


7.14         Intercreditor
Agreement. Reference is made to the Intercreditor Agreement, dated as of the date hereof, among Holdings, UK Holdco, the Borrowers
and the other Guarantors party thereto, Bank of America, N.A., as Credit Agreement Collateral Agent (as defined in the Intercreditor
Agreement) for the Credit Agreement Secured Parties referred to therein, Wilmington Trust, National Association, as Initial Notes
Collateral Agent (as defined in the Intercreditor Agreement) for the Notes Secured Parties referred to therein, and each additional
authorized representative from time to time party thereto (the “Intercreditor Agreement”). Each person that
is secured hereunder, by accepting the benefits of the security provided hereby, (i) agrees (or is deemed to agree) that
it will be bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement, (ii) authorizes
(or is deemed to authorize) the Collateral Agent on behalf of such Person to enter into, and perform under, the Intercreditor
Agreement and (iii) acknowledges (or is deemed to acknowledge) that a copy of the Intercreditor Agreement was delivered,
or made available, to such Person.


 


Notwithstanding any other provision contained
herein, this Agreement, the Liens created hereby and the rights, remedies, duties and obligations provided for herein are subject
in all respects to the provisions of the Intercreditor Agreement and, to the extent provided therein, the applicable Security Documents
(as defined in the Intercreditor Agreement). In the event of any conflict or inconsistency between the provisions of this Agreement
and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall control.


 


7.15         Judgment
Currency. If for the purpose of obtaining judgment in any court it is necessary to convert an amount due hereunder
in the currency in which it is due (the “Original Currency”) into another currency (the “Second Currency”),
the rate of exchange applied shall be that at which, in accordance with normal banking procedures, the Collateral Agent could
purchase, in the New York foreign exchange market, the Original Currency with the Second Currency on the Business Day immediately
preceding that on which any such judgment, or any relevant part thereof, is given. The obligations of the Borrowers in respect
of any amount due to the Secured Parties hereunder shall, notwithstanding any judgment or payment in respect of such judgment
in such Second Currency, be discharged only to the extent that, on the Business Day following the date the Collateral Agent receives
payment of any sum so adjudged to be due hereunder in the Second Currency, the Collateral Agent may, in accordance with normal
banking procedures, purchase, in the New York foreign exchange market, the Original Currency with the amount of the Second Currency
so paid; and if the amount of the Original Currency so purchased is less than the amount originally due to the Secured Parties
in the Original Currency, the Borrowers agree, to the fullest extent that it may effectively do so, as a separate obligation and
notwithstanding any such payment or judgment to indemnify the Collateral Agent against such loss. If the amount of Original Currency
so purchased exceeds the amount originally due to the Secured Parties in the Original Currency, then the Borrowers shall be entitled
to and shall receive from the Collateral Agent such excess. The term “rate of exchange” in this Section 7.15
means the spot rate at which the Collateral Agent, in accordance with normal practices, is able on the relevant date to purchase
the Original Currency with the Second Currency, and includes any costs of exchange payable in connection with such purchase.


 


[Signature pages follow.]


 






     - 27 -


     


    

 


IN WITNESS WHEREOF, each
of the undersigned has caused this Agreement to be duly executed and delivered as of the date first above written.


 


GRANTORS:


 


	 	[__]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	[__]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:




 





[Signature Page to Pledge and Security
Agreement]


 






    


     


    

 


	 	Bank of America, N.A.,
	 	as Collateral Agent
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:




 


[Signature Page to Pledge and Security
Agreement]


 






    


     


    

 





Annex I to

Pledge and Security Agreement


 


ASSUMPTION AGREEMENT,
dated as of _______________, ____, made by                     
(the “Additional Grantor”), in favor of Bank of America, N.A., as collateral agent (together with its successors,
in such capacity, the “Collateral Agent”) for the Secured Parties (as defined in the Credit Agreement, dated
as of the date hereof (as amended, restated, amended and restated, supplemented, restructured or otherwise modified, renewed or
replaced from time to time, the “Credit Agreement”), among Camelot UK Holdco Limited, a private limited liability
company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot
UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10267893
(“UK Holdco”), the borrowers listed on Schedule 1.1I thereto (collectively, the “US Borrowers”),
Camelot Finance S.A., a public limited liability company (société anonyme) organized and established under
the laws of the Grand Duchy of Luxembourg (“Luxembourg”), having its registered office at 14, rue Edward Steichen,
L-2540 Luxembourg and registered with the Luxembourg Trade and Companies Register (the “Companies Register”)
under number B 208514 (the “Lux Borrower” and, together with the US Borrowers, each a “Term Borrower”
and, collectively, the “Term Borrowers”), certain Restricted Subsidiaries from time to time designated thereunder
as Additional Revolving Borrowers (together with the Lux Borrower, UK Holdco and Camelot U.S. Acquisition LLC, a limited liability
company organized and established under the laws of Delaware, each a “Revolving Borrower” and, collectively,
the “Revolving Borrowers” and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower”
and, collectively, the “Borrowers”), the Subsidiary Guarantors from time to time party thereto, the several
banks, financial institutions, institutional lenders and other entities from time to time party thereto as lenders (the “Lenders”),
the Issuing Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent. Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 


W I T N E S E T H :


 


WHEREAS, in connection
with the Credit Agreement, the Borrowers and certain of their Affiliates (other than the Additional Grantor) have entered into
the Pledge and Security Agreement, dated as of October 31, 2019, in favor of the Collateral Agent for the benefit of the Secured
Parties (as amended, restated, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from
time to time, the “Pledge and Security Agreement”);


 


WHEREAS, the Credit Agreement
requires the Additional Grantor to become a party to the Pledge and Security Agreement; and


 


WHEREAS, the Additional
Grantor has agreed to execute and deliver this Assumption Agreement in order to become a party to the Pledge and Security Agreement;


 


NOW, THEREFORE, IT
IS AGREED:


 






    


     


    

 


1. Pledge and Security
Agreement. By executing and delivering this Assumption Agreement, the Additional Grantor, as provided in Section 7.13
of the Pledge and Security Agreement, (a) hereby becomes a party to the Pledge and Security Agreement as a Grantor thereunder
with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of the foregoing,
hereby expressly assumes all obligations and liabilities of a Grantor, and (b) hereby grants to the Collateral Agent, for
the benefit of the Secured Parties, as collateral security for the prompt and complete payment and performance when due (whether
at stated maturity, by acceleration or otherwise) of the Obligations of such Additional Grantor (including, without limitation,
any extensions, modifications, substitutions, amendments or renewals of any or all of such Obligations), a security interest in
all of the Collateral of the Additional Grantor, in each case whether now owned or at any time hereafter acquired by the Additional
Grantor or in which the Additional Grantor now has or at any time in the future may acquire any right, title or interests and wherever
the same may be located, but subject in all respects to the terms, conditions and exclusions set forth in the Pledge and Security
Agreement. The information set forth in Annex I-A hereto is hereby added to the information set forth in the Schedules to
the Pledge and Security Agreement. The Additional Grantor hereby represents and warrants that each of the representations and warranties
applicable to the Additional Grantor contained in Section 3 of the Pledge and Security Agreement is true and correct
in all material respects on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such
date.


 


2. Governing Law.
THIS ASSUMPTION AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THAT
WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.


 


[Signature page follows.]


 


 





Annex I to Pledge and Security Agreement


Form of Assumption Agreement


 






    -2-


     


    

 


IN WITNESS WHEREOF, the
undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written.


 


	 	[ADDITIONAL GRANTOR]  
     
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:    





 





[Signature Page to Assumption Agreement]


 






    


     


    

 





Annex 1-A


 


Supplement to Schedule 1


 


Supplement to Schedule 2


 


Supplement to Schedule 3


 


[Reserved]


 


Supplement to Schedule 5


 






     


     


    

 



Exhibit B


 


FORM OF ASSIGNMENT AND ASSUMPTION


 


This Assignment and
Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of
Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings
given to them in the Credit Agreement (defined below), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard
Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and
made a part of this Assignment and Assumption as if set forth herein in full.


 


Check the following
box if the Assignor or the Assignee is an Affiliated Lender or a Permitted Auction Purchaser:


 


 ̈         Assignor is an Affiliated Lender


 


 ̈         Assignee
is an Affiliated Lender


 


 ̈         Assignee
is a Permitted Auction Purchaser


 


For an agreed consideration,
the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective
Date inserted by the Administrative Agent as contemplated below, (i) all of the Assignor’s rights and obligations in
its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto in the amount
and equal to the percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the
respective facilities identified below (including, without limitation, the Letters of Credit and the Swingline Loans included in
such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action
and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or
in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort
claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold
and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above
being referred to herein collectively as, the “Assigned Interest”). Such sale and assignment is without
recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty
by the Assignor.


 


	1.	Assignor:	 	 



 


	2.	Assignee:	 	
	 	[and is an Affiliate of [identify Lender] / Approved Fund of [identify Lender] / Debt Fund Affiliate / Non-Debt
Fund Affiliate1]



 




 




 1 Select as applicable.


 






    	 	B-1	 



     


    

 


	3.	Borrower:[Camelot Finance S.A., a public limited liability company (société
anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue
Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514] [Camelot
U.S. Acquisition 1 Co., as the Borrower Representative] [and the other Borrowers from time to time party thereto]



 


	4.	Administrative Agent:Bank of America, N.A., as the administrative agent under the Credit Agreement



 


	5.	Credit Agreement:The Credit Agreement, dated as of October 31, 2019 (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among
Camelot UK Holdco Limited, a private limited liability company incorporated under the laws of England and Wales with registered
number 10314173, Camelot UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales
with registered number 10267893, the US Borrowers party thereto, Camelot Finance S.A., a public limited liability company (société
anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue
Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514, certain
Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers, the Subsidiary Guarantors from
time to time party thereto, the several banks, financial institutions, institutional lenders and other entities from time to time
party thereto as lenders, the Issuing Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent
thereunder.



 


	6.	Assigned Interest:



 


	Facility Assigned	 	Aggregate Amount of

 Commitment/Loans 

for all Lenders	 	Amount of

 Commitment/Loans

 Assigned	 	Percentage Assigned

 of

 Commitment/Loans2	 	CUSIP Number
	 	 	$	 	$	 		%	 
	 	 	$	 	$	 		%	 



 


	7.	If the Borrower is a German Borrower, check the appropriate
box with respect to the Assignee’s status:



 


 ̈      Not
a German Qualifying Lender


 


 ̈      German
Qualifying Lender (other than a Germany Treaty Lender)


 


 ̈      German
Treaty Lender


 


 



2 Set
forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.


 






    	 	B-2	 



     


    

 


	8.	If the Borrower is a Luxembourg Borrower, check the appropriate
box with respect to the Assignee’s status:



 


 ̈      Not a Luxembourg Qualifying Lender


 


 ̈      Luxembourg Qualifying Lender (other
than a Luxembourg Treaty Lender)




 


 ̈      Luxembourg Treaty Lender


 


	9.	If the Borrower is a Spanish Borrower, check the appropriate
box with respect to the Assignee’s status:



 


 ̈      Not a Spanish Qualifying Lender


 


  ̈      Spanish Qualifying Lender (other than a Spanish Treaty Lender)




 


 ̈      Spanish Treaty Lender


 


	10.	If the Borrower is a UK Borrower, check the appropriate
box with respect to the Assignee’s status:



 


 ̈      Not a UK Qualifying Lender


 


 ̈      UK Qualifying Lender (other than a UK Treaty
Lender)




 


 ̈      UK Treaty Lender]


 


	11.	[The Assignee confirms that it holds a passport under
the HM Revenue and Customs DT Treaty Passport scheme (reference number [ ]) and is tax resident in [ ]3,
so that interest payable to it by borrowers is generally subject to full exemption from United Kingdom withholding tax and requests
that the Luxembourg Borrower notify (i) each UK Borrower, which is a party to the Credit Agreement as a Borrower as at the
date of this Assignment and Assumption, and (ii) each UK Borrower, which becomes a Borrower after the date of this Assignment
and Assumption, that it wishes that scheme to apply to the Credit Agreement.]4



 


	12.	[The Assignee confirms that that the person beneficially
entitled to interest payable to that Assignee in respect of an advance under a Loan Document that is a Revolving Loan or a Swingline
Loan (as applicable) is either (a) a company resident in the United Kingdom for United Kingdom tax purposes or (b) a
partnership each member of which is (i) a company so resident in the United Kingdom or (ii) a company not so resident
in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account
in computing its chargeable profits (within the meaning of section 19 of the CTA 2009) the whole of any share of interest payable
in respect of that advance that falls to it by reason of Part 17 of the CTA 2009 or (c) a company not so resident in
the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account
interest payable in respect of that advance in computing the chargeable profits(within the meaning of section 19 of the CTA 2009)
of that company.]5



 





 



3 Insert jurisdiction of tax residence.


 


4 Include
if the Assignee holds a passport under the HM Revenue and Customs DT Treaty Passport scheme and wishes that scheme to apply to
the Credit Agreement.







 






    	 	B-3	 



     


    

 


	13.	[A copy of this Assignment Agreement, once it is provided
to a Luxembourg Borrower at the following address, shall be considered due notification to that Luxembourg Borrower of the assignment
of its obligations to the Assignee for the purposes of Article 1690 of the Luxembourg Civil Code:]6



 


	14.	[A copy of this Assignment Agreement, once it is provided
to a Spanish Borrower at the following address, shall be considered due notification to that Spanish Borrower of the assignment
of its obligations to the Assignee for the purposes of Article 1257 of the Spanish Civil Code.]7



 


		Note:	The execution of this Assignment Agreement may not be sufficient to perfect an assignment of
the Assignor’s Assigned Interest(s) and/or a proportionate share of the Assignor’s interest in the Collateral
to the Assignee in all jurisdictions. It is the responsibility of the Assignee to ascertain whether any other documents or other
formalities are required to perfect a transfer of the Assignor’s Assigned Interest(s) and/or such share in the Assignor’s
Collateral in any jurisdiction to the Assignee and, if so, to arrange for execution of those documents and completion of those
formalities.



 





 





5 Include if the Assignee comes within (a)(ii)
of the definition of UK Qualifying Lender in the Credit Agreement


  


6
 Assignor and Assignee should seek legal advice in Luxembourg and other relevant jurisdictions with respect to notice
and other requirements.


 


7 Assignor
and Assignee should seek legal advice in Spain and other relevant jurisdictions with respect to notice and other requirements.






 






    	 	B-4	 



     


    




 


Effective Date: _____________
___, 20__ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER
THEREFOR.]


 


The terms set forth in this Assignment
and Assumption are hereby agreed to:


 


	 	ASSIGNOR
	 	[NAME OF ASSIGNOR]




 


	 	By:	 
	 	 	Title:






 


	 	ASSIGNEE
	 	[NAME OF ASSIGNEE]




 


	 	By:	 
	 	 	Title:






 






    	 	B-5	 



     


    

 


 


	Consented to and Accepted:
	 
	[BORROWER REPRESENTATIVE]8




 


	By:	 	 
	 	Name:
	 	Title:




 


	BANK OF AMERICA, N.A.
 as Administrative Agent9




 


	By:	 	 
	 	Name:
	 	Title:




 



	[Consented to:]10
	 
	[NAME OF RELEVANT PARTY]




 


	By	 	 
	 	Name:
	 	Title:







 





 



8 To be completed to the extent consent
is required under the Credit Agreement.


 




 9 To be completed to the extent consent is required under the Credit Agreement.


 




10 To
be added only if the consent of other parties (e.g. Issuing Lender) is required by the terms of the Credit Agreement.


 














    	 	B-6	 



     


    

 


ANNEX 1 to Assignment and Assumption


 


[Borrowers]

CREDIT AGREEMENT


 


STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION


 


1.           Representations
and Warranties.


 


1.1        Assignor.
The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the
Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority,
and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated
hereby, [and] (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in
or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of Holdings,
the Borrowers, the Subsidiaries or any of their Affiliates or any other Person obligated in respect of any Loan Document or (iv) the
performance or observance by Holdings, the Borrowers, the Subsidiaries or any of their Affiliates or any other Person of any of
their respective obligations under any Loan Document or any other instrument or document furnished pursuant hereto or thereto;
[and (c) agrees that if the Assignee sells and assigns all or a portion of the Assigned Interest to any Person, the Assignee
may, in its sole discretion, disclose to any such Person that the Assignee acquired the Assigned Interest from the Assignor]1
[and ([c][d]) acknowledges that the Assignee has informed the Assignor that the Assignee is an Affiliate of the Borrowers
and has further informed the Assignor that the Assignee has independently and, except as provided below, without reliance on the
Assignor made its own analysis and determined to enter into this Assignment and Assumption and to consummate the transactions
contemplated hereby notwithstanding that the Assignee is an Affiliate of the Borrowers.]2


 


1.2         Assignee.
The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary,
to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender
under Section 11.6(b) the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under
the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement), (iii) from and
after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent
of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions
to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making
its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy
of the Credit Agreement, and has received, or has been accorded the opportunity to receive, copies of the most recent financial
statements delivered pursuant to Section 6.1 thereof, as applicable, and such other documents and information as it
has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase
the Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender
and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Assignment and Assumption and to purchase the Assigned Interest, (vii) it has duly completed an administrative questionnaire
and applicable Forms, (viii) the Administrative Agent has received a processing and recordation fee of $3,500 as of the Effective
Date (unless such fee has been reduced or waived by the Administrative Agent), (ix) it is [not] [a [Non-Debt] [Debt] Fund
Affiliate] and (x)  attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant
to the terms of the Credit Agreement, duly completed and executed by the Assignee [and (xi) it is [a][an] [Affiliated Lender][Permitted
Auction Purchaser]3 [and] (xii) after
giving effect to its purchase and assumption of the Assigned Interest, the aggregate principal amount of all Term Loans held by
the Sponsor or any Non-Debt Fund Affiliate will not exceed 25% of the aggregate Outstanding Amount of all Term Loans outstanding
under the Credit Agreement]4; [and]
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other
Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking action under the Loan Documents and (ii) it will perform in accordance with their terms
all of the obligations that by the terms of the Loan Documents are required to be performed by it as a Lender [, including, without
limitation, the restrictions and limitations set forth in Section 11.6(b)(iv) of the Credit Agreement with respect
to it as a Lender and an Affiliated Lender and (c) acknowledges and confirms that it has read and understands the restrictions
and limitations set forth in Section 11.6(b)(iv) of the Credit Agreement with respect to it as a Lender and an
Affiliated Lender, including those set forth in Section 11.6(b)(iv)(A) with respect to its rights as a Lender
while one or more Loan Parties is subject to any proceeding under any Debtor Relief Law]5
[and (c) acknowledges that the Assignor is an Affiliate of the Borrowers and that it has independently and,
except as provided above, without reliance on the Assignor made its own analysis and determined to enter into this Assignment
and Assumption and to consummate the transactions contemplated hereby notwithstanding that the Assignor is an Affiliate of the
Borrowers.]6


 





 





1 Insert only if the Assignor is an Affiliated Lender.


 


2 Insert
only if the Assignee is an Affiliated Lender.


 


3 Insert only if the Assignee is an Affiliated Lender or a Permitted
Auction Purchaser.


 


4 Insert only if the Assignee is an Affiliated Lender.


 


5 Insert only if the Assignee is an Affiliated Lender.


 


6 Insert
only if the Assignor is an Affiliated Lender.


 






    	 	B-7	 



     


    

 


2.           Payments.
From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including
payments of principal, interest, fees and other amounts) to the Assignor for amounts that have accrued to but excluding the Effective
Date and to the Assignee for amounts that have accrued from and after the Effective Date.


 


General Provisions. This Assignment
and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns.
This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery
of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery
of a manually executed counterpart of this Assignment and Assumption. THIS ASSIGNMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES UNDER THIS ASSIGNMENT AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.


 






    	 	B-8	 



     


    

 



 





Exhibit C


 





FORM OF COMPLIANCE CERTIFICATE1


 


This Compliance Certificate
(“Compliance Certificate”) is delivered pursuant to Section 6.2(c) of the Credit Agreement,
dated as of October 31, 2019, by and among Camelot UK Holdco Limited, a private limited liability company incorporated under
the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot UK Bidco Limited, a private
limited liability company incorporated under the laws of England and Wales with registered number 10267893 (“UK Holdco”),
the US Borrowers party thereto, Camelot Finance S.A., a public limited liability company (société anonyme)
organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue Edward Steichen,
L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514 (the “Lux Borrower”
and, together with the US Borrowers, each a “Term Borrower” and, collectively, the “Term Borrowers”),
certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers (together with the Lux
Borrower, UK Holdco and Camelot US Acquisition LLC, a limited liability company organized and established under the laws of Delaware,
each a “Revolving Borrower” and, collectively, the “Revolving Borrowers” and the Revolving
Borrowers, together with the Term Borrowers, each a “Borrower” and, collectively, the “Borrowers”),
the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional investors and
other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time to
time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”)
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement.


 


I am the duly elected,
qualified and acting [Insert Title of Responsible Officer] of the Borrower Representative and as such, I am authorized to
execute and deliver this Compliance Certificate in the name and on the behalf of the Borrower Representative.


 


I have reviewed and
am familiar with the contents of this Compliance Certificate.


 


I have reviewed the
terms of the Credit Agreement and the other Loan Documents and have made, or caused to be made under my supervision, a review in
reasonable detail of the transactions and condition of UK Holdco and its consolidated Subsidiaries during the accounting period
covered by the financial statements attached hereto as Attachment 1 (the “Financial Statements”). As
of the date hereof, I have obtained no knowledge of the existence of any condition or event which constitutes a Default or
Event of Default [except as specified on Attachment 3, which includes a description of the nature and period of existence
of such Default or Event of Default and what action the applicable Borrower has taken, is taking and/or proposes to take with respect
thereto].


 


[The Financial Statements
fairly state in all material respects the financial position of UK Holdco and its consolidated Subsidiaries in accordance with
GAAP for the period covered thereby (subject to normal year-end adjustments and the absence of footnotes.]2


 





 












		1	The attachments to this Exhibit C shall be updated as necessary to reflect any amendment, restatement,
extension, supplement or other modification to the Credit Agreement. Notwithstanding the foregoing, in the event of any discrepancy
between the attachments to this Exhibit C and the corresponding terms of the Credit Agreement, the corresponding terms of the Credit
Agreement shall replace such attachment mutatis mutandis.








  



    	 	C-1
	 



     


    




 


Attached hereto as
Attachment 2 are the computations showing [(i)] calculation of the First Lien Net Leverage Ratio [and (ii) compliance
with the provisions set forth in Section 7.1 of the Credit Agreement].3


 


[Attached hereto as
Attachment 4 is a description of any change in the jurisdiction of organization of any Loan Party required to be notified
pursuant to the U.S. Security Agreement.]


 


[Attached hereto as
Attachment 5 is a list of names of all Unrestricted Subsidiaries. [Each such Subsidiary individually qualifies as an Unrestricted
Subsidiary.]]


 


[Attached hereto as
Attachment 6 is a list of all new issued, registered or applied for Patents, Trademarks and Copyrights or Exclusive Copyright
Licenses to the extent required to be listed pursuant to the U.S. Security Agreement.]4


 


[Attached hereto as
Attachment 7 are reasonably detailed calculations setting forth Excess Cash Flow for the most recently ended fiscal year,
if any.]5


 


[Signature page follows.]


 







 









2
Only provided with quarterly financial statements.


3
Include this if Financial Compliance Date occurred on the last day of the most recently ended fiscal period.


4
Consider whether any additional notifications are required pursuant to UK Security Documents.


5
Commencing with the fiscal year of UK Holdco ending December 31, 2020.


 






    	 	C-2
	 



     


    

 










IN WITNESS WHEREOF, I
have executed this Compliance Certificate this _____ day of [•], 20[•].


 


	 	[BORROWER REPRESENTATIVE]
	 	 
	 	By:
	 
 

                                                         

	 	 	Name:
	 	 	Title:



  






    	 	C-3
	 



     


    




 


Attachment 1

to Compliance Certificate


 


[Attach Financial Statements]


 






    	 	C-4
	 



     


    




 


Attachment 21

to Compliance Certificate


 


($ in 000’s)


 


For the [Quarter][Year] ended [•],
20[•] (“Statement Date”)


 


I.  First Lien Net Leverage Ratio


 


	A1.	Aggregate principal amount of Indebtedness described in clauses (a)(i) [borrowed money], (a)(ii) [bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances] and (a)(iv) [Capitalized Lease Obligations] of the definition of “Indebtedness”, that is secured by a Lien on any asset of UK Holdco and the Restricted Subsidiaries that constitutes Collateral ranking pari passu with the Liens securing the Obligations:	 	$______
	 	 	 	 
	A2.	The amount of (a) Unrestricted cash and Cash Equivalents and (b) cash and Cash Equivalents restricted in favor of the Administrative Agent, the collateral agent in respect of the Senior Secured Notes or any other administrative agent or collateral agent in respect of Obligations secured on a pari passu basis with the Obligations, so long as the holders of such other Obligations do not have the benefit of a control agreement or other equivalent method of perfection (unless (i) the Administrative Agent or Collateral Agent also has the benefit of a control agreement or other equivalent method of perfection or (ii) such holders are bound by an Acceptable Intercreditor Agreement), in each case of UK Holdco and its Restricted Subsidiaries on such date:	 	$______
	 	 	 	 
	A3.	Consolidated First Lien Indebtedness (Line A1 – Line A2):	 	$______
	 	 	 	 
	B.	Consolidated EBITDA of UK Holdco and its Restricted Subsidiaries for any period (calculated on a Pro Forma basis), in each case ending on the above date (the “Subject Period”):	 	 
	 	 	 	 	 
	 	1.	Consolidated Net Income (calculated giving effect to the adjustments and exclusions thereto set forth in the Credit Agreement) of UK Holdco and its Restricted Subsidiaries for the Subject Period determined in accordance with GAAP, which includes the aggregate of the Net Income of the aforementioned, except that the following shall be excluded:	 	$______
	 	 	 	 	 
	 	 	(a)    any after-Tax effect of (i) extraordinary, one-time, infrequent, non-recurring, non-operating or unusual gains, losses, income or expenses (including all fees and expenses relating thereto) (including costs and expenses relating to the Transactions), in each case as determined by the Borrower Representative in good faith and (ii) restructuring charges (including tax restructuring charges), charges attributable to operating expense reductions and/or synergies and/or similar initiatives and/or programs, accruals or reserves and business optimization expense, including any such costs incurred in connection with acquisitions after the Closing Date (including entry into new market/channels and new service or product offerings) and costs related to the closure, reconfiguration and/or consolidation of facilities and costs to relocate employees, facilities opening costs, integration, transition and transaction costs, retention charges, severance, relocation costs, contract termination costs, recruiting and signing, retention or completion bonuses and expenses, one time compensation charges, future lease commitments, systems establishment costs, conversion costs and excess pension charges, consulting fees, expenses attributable to the implementation of costs savings initiatives, cost rationalization programs and other new initiatives, costs associated with tax projects/audits, payments and curtailments or modifications to pension and post-retirement employee benefit plans, costs relating to rights fee arrangements and early terminations thereof, costs relating to strategic initiatives, costs attributable to new contracts or projects, costs of software, new systems, intellectual property, information technology or accounting developments or improvements, costs relating to project startups or new operations and corporate development costs and costs consisting of professional consulting or other fees relating to any of the foregoing:	 	$______







 





 



 1  Additional attachments to be added as applicable


 






    	 	C-5
	 



     


    

 


	 	 	 	 	 	 
	 	 	(b)   the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies during such period, whether effected through a cumulative effect adjustment or a retroactive application in each case in accordance with GAAP (except that, if the Borrower Representative determines in good faith that the cumulative effects thereof are not material to the interests of the Lenders, the effects of any change in any such principles or policies may be included in any subsequent period after the fiscal quarter in which such change, adoption or modification was made):	 	$______
	 	 	 	 	 
	 	 	(c)   any net after-Tax effect of income or loss from disposed, abandoned or discontinued assets, properties or operations and any net after-Tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued assets, properties or operations (excluding, at the option of the Borrower Representative, assets, properties and operations pending disposal, abandonment, transfer, closure or discontinuation, as applicable, in each case so long as such assets, properties or operations are classified as discontinued under GAAP):	 	$______
	 	 	 	 	 
	 	 	(d)   any net after-Tax effect of gains or losses (including all fees and expenses relating thereto) attributable to business dispositions or asset dispositions or the sale or other disposition of any Capital Stock of any Person, or of returned or surplus assets, other than in the ordinary course of business, as determined in good faith by the Borrower Representative:	 	$______
	 	 	 	 	 	 	 


 













    	 	C-6
	 



     


    




 





	 	 	(e)    the Net Income for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting (other than a Borrower or a Guarantor), provided that the Consolidated Net Income of UK Holdco shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash or Cash Equivalents (or to the extent converted into cash or Cash Equivalents) to the referent Person or a Restricted Subsidiary thereof in respect of such period:	 	$______
	 	 	 	 	 
	 	 	(f)    solely for the purpose of the definition of Excess Cash Flow and determining the amount available for Restricted Payments under Section 7.3(a)(3)(A), the Net Income for such period of any Restricted Subsidiary (other than any Loan Party), to the extent that the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived, provided that Consolidated Net Income of UK Holdco will be increased by the amount of dividends or other distributions or other payments actually paid in cash or Cash Equivalents (or to the extent converted into cash or Cash Equivalents) to UK Holdco or any of its Restricted Subsidiaries in respect of such period, to the extent not already included therein:	 	$______
	 	 	 	 	 
	 	 	(g)   effects of adjustments (including the effects of such adjustments pushed down to UK Holdco and its Restricted Subsidiaries) in any line item in such Person’s consolidated financial statements (including, but not limited to, any step-ups with respect to re-valuing assets and liabilities) pursuant to GAAP and related authoritative pronouncements resulting from the application in accordance with GAAP of purchase accounting in relation to any investment, acquisition, merger or consolidation (or reorganization or restructuring) that is consummated after the Closing Date or the depreciation, amortization or write-off of any amounts thereof, net of taxes:	 	$______
	 	 	 	 	 
	 	 	(h)    any net after-Tax income (loss) from the early extinguishment of (i) Indebtedness, (ii) Hedging Obligations or (iii) other derivative instruments:	 	$______
	 	 	 	 	 	 	 









    	 	C-7
	 



     


    

 


	 	 	(i)     any impairment charge or expense, asset write-off or write-down, including impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets or investments in debt and equity securities or as a result of a change in law or regulations, in each case, pursuant to GAAP and the amortization of intangibles arising pursuant to GAAP:	 	$______
	 	 	 	 	 
	 	 	(j)     any non-cash compensation charge or expense, including any such charge arising from grants of stock appreciation or similar rights, phantom equity, stock options, restricted stock or other rights, and any cash charges associated with the rollover, acceleration or payout of Equity Interests by management of UK Holdco or any of its direct or indirect parent companies, including any expense resulting from the application of Statement of Financial Accounting Standards No. 123R, provided that any subsequent settlement in cash shall reduce Consolidated Net Income for the period in which such payment occurs:	 	$______
	 	 	 	 	 
	 	 	(k)    any fees and expenses or other charges (including any make-whole premium or penalties) incurred during such period, or any amortization thereof for such period, in connection with the Transactions, any acquisition, Investment, recapitalization, disposition, Asset Sale, issuance or repayment of Indebtedness, equity offering, refinancing transaction or amendment or modification of any debt instrument (in each case, (i) including any such transactions consummated prior to the Closing Date, (ii) whether or not such transaction is undertaken but not completed, (iii) if unsuccessful, whether or not such transaction is permitted by this Agreement (if such transaction would have been permitted if successful) and (iv) including any such transaction incurred by any direct or indirect parent company of UK Holdco) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction:	 	$______
	 	 	 	 	 
	 	 	(l)     accruals and reserves that are established and not reversed within 12 months after the Closing Date that are so required to be established as a result of the Transactions (or within 12 months after the closing of any acquisition that are so required to be established as a result of such acquisition) in accordance with GAAP:	 	$______
	 	 	 	 	 
	 	 	(m)   any charges resulting from the application of Accounting Standards Codification Topic 805 “Business Combinations,” Accounting Standards Codification Topic 350 “Intangibles—Goodwill and Other,” Accounting Standards Codification Topic 360-10-35-15 “Impairment or Disposal of Long-Lived Assets,” Accounting Standards Codification Topic 480-10-25-4 “Distinguishing Liabilities from Equity—Overall—Recognition” or Accounting Standards Codification Topic 820 “Fair Value Measurements and Disclosures”:	 	$______
	 	 	 	 	 	 	 









    	 	C-8
	 



     


    

 


	 	 	(n)    non-cash interest expense resulting from the application of Accounting Standards Codification Topic 470-20 “Debt—Debt with Conversion Options—Recognition”:	 	$______
	 	 	 	 	 
	 	 	(o)   any non-cash interest expense and non-cash interest income, in each case to the extent there is no associated cash disbursement or receipt, as the case may be, before the maturity date of the Initial Term Loans:	 	$______
	 	 	 	 	 
	 	 	(p)   the net after-Tax effect of carve-out related items (including, without limitation, elimination of duplicative costs (including with respect to transaction services agreements) and costs and expenses related to information and technology systems establishment or modification), in each case in connection with acquisitions and investments permitted hereunder:	 	$______
	 	 	 	 	 
	 	 	(q)   any net unrealized gain or loss (after any offset) resulting in such period from (i) Hedging Obligations, (ii) the application of Accounting Standards Codification Topic 815 “Derivatives and Hedging” and/or (iii) any ineffectiveness recognized in earnings related to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives that do not qualify as hedge transactions, in respect of Hedging Obligations:	 	$______
	 	 	 	 	 
	 	 	(r)    any net foreign exchange gains or losses (whether or not realized) resulting from the impact of foreign currency changes on the valuation of assets and liabilities on the consolidated balance sheet of UK Holdco and its Restricted Subsidiaries (in each case, including currency re-measurements of Indebtedness, any net loss or gain resulting from hedge arrangements for currency exchange or any other currency related risk and any translation of assets and liabilities denominated in a foreign currency):	 	$______
	 	 	 	 	 
	 	 	(s)   any fee, loss, charge, expense, cost accrual or reserve associated with and/or payment of any actual or prospective legal settlement, fine, judgment or order:	 	$______
	 	 	 	 	 
	Increased (without duplication) by:	 	 
	 	 	 	 	 
	 	2.	provision for Taxes based on income or profits or capital, including, without limitation, state, franchise and similar Taxes and foreign withholding Taxes of such Person paid or accrued during such period deducted (and not added back) in computing Consolidated Net Income and payroll taxes related to stock compensation costs, including (i) an amount equal to the amount of Tax distributions actually made to the holders of Capital Stock of such Person or any direct or indirect parent of such Person in respect of such period in accordance with Section 7.3(b)(xii) which shall be included as though such amounts had been paid as income Taxes directly by such Person and (ii) penalties and interest related to such taxes or arising from any tax examinations:	 	$______
	 	 	 	 	 	 	 









    	 	C-9
	 



     


    




	 	 	 	 	 	 
	 	3.	consolidated Fixed Charges of UK Holdco and its Restricted Subsidiaries for such period (including (x) bank fees and (y) costs of surety bonds in connection with financing activities, in each case, to the extent included in Fixed Charges), together with items excluded from the definition of “Consolidated Interest Expense” pursuant to clauses (1)(q) through (1)(z) thereof, in each case, to the extent the same was deducted (and not added back) in calculating such Consolidated Net Income:	 	$______
	 	 	 	 	 
	 	4.	Consolidated Non-Cash Charges of UK Holdco and its Restricted Subsidiaries for such period to the extent such non-cash charges were deducted (and not added back) in computing Consolidated Net Income:	 	$______
	 	 	 	 	 
	 	5.	any other non-cash charges, including any write offs or write downs, reducing Consolidated Net Income for such period (provided that if any such non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period):	 	$______
	 	 	 	 	 
	 	6.	the amount of any minority interest expense consisting of Subsidiary income attributable to minority equity interests of third parties in any non-Wholly Owned Subsidiary of UK Holdco deducted (and not added back) in such period in calculating Consolidated Net Income:	 	$______
	 	 	 	 	 
	 	7.	the amount of management, monitoring, consulting, transaction and advisory fees (including termination fees) and related expenses and indemnities paid or accrued in such period to the Sponsors pursuant to the Management Agreement to the extent deducted (and not added back) in computing Consolidated Net Income:	 	$______
	 	 	 	 	 
	 	8.	pro forma adjustments, including the “run rate” cost savings, operating expense reductions, operational improvements, restructuring charges and expenses and synergies (“Expected Cost Savings”) that are expected (in good faith) to be realized as a result of actions taken or with respect to which substantial steps are expected to be taken within 24 months after the date of any acquisition, disposition, divestiture, restructuring or other transaction or the implementation of a cost savings or other similar initiative (any such event or initiative, a “Cost Saving Initiative”), as applicable (calculated on a Pro Forma Basis as though such Expected Cost Savings had been realized on the first day of such period and as if such Expected Cost Savings were realized during the entirety of such period), net of the amount of actual benefits realized during such period from such actions; provided that (A) such actions or substantial steps with respect thereto are expected in the good faith determination of the Borrower Representative to be taken within 24 months after the consummation or implementation of the applicable Cost Saving Initiative, which is expected to result in Expected Cost Savings and (B) no Expected Cost Savings shall be added pursuant to this defined term to the extent duplicative of any expenses or charges otherwise added to Consolidated EBITDA, whether through a pro forma adjustment or otherwise, for such period (which adjustments may be incremental to, but without duplication for, pro forma adjustments made pursuant to the definition of “Pro Forma Basis”):	 	$______
	 	 	 	 	 	 	 









    	 	C-10
	 



     


    




	 	 	 	 	 	 
	 	9.	the amount of loss or discount on sale of receivables and related assets to the Receivables Subsidiary or otherwise in connection with a Receivables Financing, to the extent deducted (and not added back) in computing Consolidated Net Income:	 	$______
	 	 	 	 	 
	 	10.	(i) any costs or expenses incurred by UK Holdco or any of its Restricted Subsidiaries pursuant to any management equity plan or stock option plan or any other management or employee benefit plan, trust, scheme or agreement or any stock subscription or shareholder agreement, any pension plan (including any post-employment benefit scheme which has been agreed with the relevant pension trustee), including any deferred compensation arrangement, or any accelerated vesting of awards and (ii) payments made to optionholders in connection with, or as a result of, any distribution being made to equityholders, which payments are being made to compensate such optionholders as though they were equityholders at the time of, and entitled to share in, such distribution, in each case to the extent permitted hereunder:	 	$______
	 	 	 	 	 
	 	11.	for purposes of determining compliance with the maximum First Lien Net Leverage Ratio required under Section 7.1, the Cure Amount, if any, received by UK Holdco for such period and permitted to be included in Consolidated EBITDA pursuant to Section 9.4:	 	$______
	 	 	 	 	 
	 	12.	the Tax effect of any items excluded from the calculation of Consolidated Net Income pursuant to clauses (1), (3), (4) and (8) of the definition thereof:	 	$______
	 	 	 	 	 
	 	13.	to the extent not already otherwise included herein, adjustments and add-backs made in calculating “Standalone Adjusted EBITDA” for the twelve months ended June 30, 2019 as set forth in the Offering Memorandum in respect of the Senior Secured Notes:	 	$______
	 	 	 	 	 
	 	14.	earn-out, non-compete and contingent consideration obligations (including to the extent accounted for as bonuses, compensation or otherwise) and adjustments thereof and purchase price adjustments incurred in connection with any permitted acquisition or other Investment permitted hereunder and paid or accrued during such period:	 	$______
		 	 	 	 	 	 








 






    	 	C-11
	 



     


    

 





	 	15.	“run rate” pro forma adjustments, from the first day of the applicable period, for the aggregate amount of Consolidated EBITDA projected by the Borrower Representative in good faith to result from binding contracts entered into; provided that the aggregate amount of addbacks for such periods made pursuant to this clause (r) in any period shall not exceed an amount equal to 10% of Consolidated EBITDA (after giving effect to such addbacks) as of any date of determination:	 	$______
	 	 	 	 	 
	 	 	 	 	 
	 	16.	any other adjustments, exclusions and add-backs that are consistent with Regulation S-X of the Securities Act of 1933, as amended:	 	$______
	 	 	 	 	 
	Decreased (without duplication) by:	 	 
	 	 	 	 	 
	 	17.	non-cash gains increasing Consolidated Net Income of UK Holdco and its Restricted Subsidiaries for such period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA in any prior period:	 	$______
	 	 	 	 	 
	 	18.	increased (by losses) or decreased (by gains) by (without duplication) the application of FASB Interpretation No. 45 (Guarantees) and/or Accounting Standards Codification Topic 810:	 	$______
	 	 	 	 	 
	C.	Consolidated EBITDA (the sum of Lines I.B.1 through I.B.16 minus the sum of Lines I.B.17 and I.B.18):	 	$______2
	 	 	 	 	 
	D.	First Lien Net Leverage Ratio (Line I.A3  ̧ Line I.C):	 	____ : 1.00
	 	 	 	 	 
	E.	Maximum permitted:	 	 
	 	 	 	 	 
	 	Fiscal Quarter Ending	 	First Lien Net Leverage Ratio	 	 
	 	 	 	 	 	 
	 	March 31, 2020 and each fiscal quarter ending thereafter	 	7.25 to 1.00	 	 
	 	 	 	 	 	 	 


 





 






		2	Notwithstanding the foregoing, Consolidated EBITDA (a) for the fiscal quarter ended September
                                                                              30, 2018, shall be deemed to be $79,347,000, (b) for the fiscal quarter ended December 31, 2018, shall be deemed to be
                                                                              $82,351,000, (c) for the fiscal quarter ended March 31, 2019, shall be deemed to be $67,650,000 and (d) for the fiscal
                                                                              quarter ended June 30, 2019, shall be deemed to be $86,620,000, as may be subject to add-backs and adjustments
                                                                              (without duplication) pursuant to clauses (1)(i) and (r) above and the definition of “Pro Forma Basis” for the
                                                                              applicable period.



 




 



    	 	C-12
	 



     


    




 


Attachment 7

to Compliance Certificate


 


($ in 000’s)


 


For the year ended [●], 20[●]
(“Statement Date”)


 


Excess Cash Flow24


 


I.  The sum, without duplication, of:


 





	A.	Consolidated Net Income for such Excess Cash Flow Period:	 	$______
	 	 	 	 
	B.	the amount of Consolidated Non-Cash Charges deducted in arriving at such Consolidated Net Income, but excluding any such Consolidated Non-Cash Charges representing an accrual or reserve for a potential cash item in any future period:	 	$______
	 	 	 	 
	C.	
        the Consolidated Working Capital Adjustment
        for such Excess Cash Flow Period:

         
	 	$______
	D.	
        the aggregate net amount of non-cash loss
        on the Disposition of property by UK Holdco and the Restricted Subsidiaries during such Excess Cash Flow Period (other than sales
        in the ordinary course of business), to the extent deducted in arriving at such Consolidated Net Income:

         
	 	$______
	E.	
        the amount of Tax expense in excess of
        the amount of Taxes paid in cash during such Excess Cash Flow Period to the extent such Tax expense was deducted in determining
        Consolidated Net Income for such period:

         
	 	$______
	F.	
        cash receipts in respect of Swap Agreements
        during such Excess Cash Flow Period to the extent not otherwise included in Consolidated Net Income:

         
	 	$______
	II.  Over, the sum, without duplication of	 	 
	 	 	 	 
	A.	
        the amount of all non-cash credits included
        in arriving at such Consolidated Net Income (but excluding any non-cash credit to the extent representing a reversal of an accrual
        or reserve described in clause (a)(ii)):

         
	 	$______
	B.	
        to the extent not deducted in determining
        Consolidated Net Income, Permitted Tax Distributions and Taxes of any Group Member that were paid in cash with respect to such
        Excess Cash Flow Period:

         
	 	$______
	C.	
        all mandatory prepayments of the Term Loans
        pursuant to Section 2.11 of the Credit Agreement made during such Excess Cash Flow Period as a result of any Asset Sale or
        Recovery Event, but only to the extent that such Asset Sale or Recovery Event resulted in a corresponding increase in Consolidated
        Net Income:

         
	 	$______










 





 






24       To
be delivered for each fiscal year of UK Holdco beginning
with the fiscal year ending December 31, 2020.


  











    	 	C-13
	 



     


    




 


	D.	
        to the extent not funded with the proceeds
        of Indebtedness (other than Indebtedness under the Revolving Facility or any other revolving credit facility), the aggregate amount
        of all regularly scheduled principal amortization payments of Funded Debt made on their due date during such Excess Cash Flow Period
        (including payments in respect of Capitalized Lease Obligations to the extent not deducted in the calculation of Consolidated Net
        Income):

         
	 	$______
	E.	
        to the extent not funded with the proceeds
        of Indebtedness (other than Indebtedness under the Revolving Facility or any other revolving credit facility), the aggregate amount
        of all optional prepayments, repurchases and redemptions of Indebtedness (other than (x) the Loans and other such amounts
        deducted from the amount of Excess Cash Flow required to be prepaid pursuant to Section 2.11(b) and (y) in
        respect of any revolving credit facility to the extent there is not an equivalent permanent reduction in commitments thereunder)
        made during the Excess Cash Flow Period:

         
	 	$______
	F.	
        the aggregate net amount of non-cash gains
        on the Disposition of property by the UK Holdco and the Restricted Subsidiaries during such Excess Cash Flow Period (other than
        sales of inventory in the ordinary course of business), to the extent included in arriving at such Consolidated Net Income:

         
	 	$______
	G.	
        any cash payments that are made during
        such Excess Cash Flow Period and have the effect of reducing an accrued liability that was not accrued during such period:

         
	 	$______
	H.	
        the amount of Taxes paid in cash during
        such Excess Cash Flow Period to the extent they exceed the amount of Tax expense deducted in determining Consolidated Net Income
        for such period:

         
	 	$______
	I.	
        the aggregate amount of any premium, make-whole
        or penalty payments actually paid in cash by UK Holdco and any Restricted Subsidiary during such period that are required to be
        made in connection with any prepayment or satisfaction and discharge of Indebtedness:

         
	 	$______
	J.	
        cash expenditures in respect of Swap Agreements
        during such fiscal year to the extent not deducted in arriving at such Consolidated Net Income:

         
	 	$______
	K.	
        the amount of cash payments made in respect
        of pensions and other post-employment benefits in such period to the extent not deducted in arriving at such Consolidated Net Income:

         
	 	$______
	L.	
        the amount of cash and Cash Equivalents
        subject to cash collateral or other deposit arrangements made with respect to Letters of Credit or Swap Agreements; provided,
        that if such cash and Cash Equivalents cease to be subject to those arrangements, such amount shall be added back to Excess Cash
        Flow for the subsequent Excess Cash Flow Period when such arrangements cease:25

         
	 	$______







 






    	 	C-14
	 



     


    

 








	M.	
        a reserve established by UK Holdco or any
        Restricted Subsidiary in good faith in respect of deferred revenue that any Group Member generated during such Excess Cash Flow
        Period; provided that, to the extent all or any portion of such deferred revenue is not returned to customers during the
        immediately succeeding Excess Cash Flow Period or otherwise included in the Consolidated Net Income in the immediately subsequent
        year, such deferred revenue shall be added back to Excess Cash Flow for such subsequent Excess Cash Flow Period:26

         
	 	$______
	S. 	
        cash payments by UK Holdco and its Restricted
        Subsidiaries in respect of long-term liabilities to the extent not deducted in arriving at such Consolidated Net Income; provided
        that no such payments are with respect to long-term liabilities with an Affiliate of UK Holdco (or are guaranteed by an Affiliate
        of UK Holdco):27

         
	 	$______
	T.	
        amounts added to Consolidated Net Income
        pursuant to clauses (1), (3), (4) and (11) of the definition of “Consolidated Net Income” and, without duplication,
        any other loss, expense, accrual, reserve or charge excluded in the calculation of “Consolidated Net Income” paid or
        payable in cash:

         
	 	$______


 


 


	Excess Cash Flow for such Excess Cash Flow Period (the sum of clauses (I)(A) through (I)(F) over the sum of clauses (II)(A) through (II)(T) above):	 	$______
	
         

        ECF Percentage for such Excess Cash Flow Period:28
	 	______%
	
         

        Excess Cash Flow prepayment amount:
	 	 
	 	 	 	 	 


  


	 	(1) 	
        (a) ECF Percentage for such Excess Cash Flow Period multiplied
        by

        (b) Excess Cash Flow for such Excess Cash Flow Period, over

        
	 	
        $______

         








 





=









	25	If such
cash and Cash Equivalents cease to be subject to those arrangements, such amount shall be added back to Excess Cash Flow for the
subsequent Excess Cash Flow Period when such arrangements cease
	 	 
	26	To the extent all or any portion of such deferred revenue is not returned to customers during the
immediately succeeding Excess Cash Flow Period or otherwise included in the Consolidated Net Income in the immediately subsequent
year, such deferred revenue shall be added back to Excess Cash Flow for such subsequent Excess Cash Flow Period.
	 	 
	27	No
such payments are with respect to long-term liabilities with an Affiliate of UK Holdco (or are guaranteed by an Affiliate of UK
Holdco).
	 	 
	28	50%; provided that the ECF Percentage shall be reduced to (i) 25% if the First Lien Net Leverage
Ratio as of the last day of the most recently ended Reference Period is less than or equal to 4.50 to 1.00 and greater than 4.00
to 1.00 and (ii) 0% if the First Lien Net Leverage Ratio as of the last day of the most recently ended Reference Period is less
than or equal to 4.00 to 1.00; provided that the ECF Percentage shall be determined on the date of required prepayment in respect
of Excess Cash Flow and giving pro forma effect to such prepayment and to any other repayment or prepayment at or prior to the
time such prepayment in respect of Excess Cash Flow is due.












 






    	 	C-15
	 



     


    

 





	 	(2)	
        To the extent not funded with (x) the
        proceeds of Indebtedness constituting “long term indebtedness” (or a comparable caption) under GAAP (other than Indebtedness
        in respect of any revolving credit facility) or (y) the proceeds of Permitted Cure Securities applied pursuant to Section 9.4
        of the Credit Agreement, the aggregate amount of:

         

        (a)   all
        Purchases by any Permitted Auction Purchaser (determined as the par value of the Loans purchased by such Permitted Auction Purchaser)
        pursuant to a Dutch Auction or open market purchase permitted hereunder:

         
	 	
        $______

         

	 	 	(b)   voluntary prepayments of Term Loans and Revolving Loans (but, in the case of Revolving Loans, only to the extent of a concurrent and permanent reduction in the Revolving Commitments):	 	$______
	 	 	
         

        (c)   optional
        prepayments, purchases and redemptions and buybacks (with credit given to the par value of the loans or notes repurchased) by UK
        Holdco and the Restricted Subsidiaries of other Indebtedness that is secured by a Lien ranking pari passu (determined without regard
        to the control of remedies) with the Lien securing the Obligations (but, in the case of revolving indebtedness, only to the extent
        of a concurrent and permanent reduction in the revolving commitments):
	 	$______
	 	 	
         

        (d)   payments
        by UK Holdco and the Restricted Subsidiaries in cash on account of Capital Expenditures:
	 	 
	 	 	
         

        (e)     payments
        by UK Holdco and the Restricted Subsidiaries in cash on account of acquisitions or other Investments permitted hereunder (including
        any earn-out payments):
	 	$______
	 	 	
         

        (f)    Restricted
        Payments made in cash pursuant to Section 7.3(a), (b)(iv), (b)(v), (b)(vi), (b)(viii), (b)(x), (b)(xii), (b)(xiii), (b)(xix) and
        (b)(xxi), in each case, made during, or committed to be made within 12 months of the end of, the Excess Cash Flow Period (provided,
        however, that if any payment committed to be made is not actually made in cash within such period, such amount shall be added back
        to Excess Cash Flow for the subsequent Excess Cash Flow Period) or, at the option of the Borrower Representative, after the Excess
        Cash Flow Period and prior to the Excess Cash Flow Application Date, shall, on the relevant Excess Cash Flow Application Date,
        be applied toward the prepayment of the Term Loans as set forth in clause (g) of this Section 2.11, provided that no
        such prepayment shall be made if the Excess Cash Flow for any Excess Cash Flow Period is less than $10,000,000 (and, if Excess
        Cash Flow exceeds such amount, only such excess shall be subject to prepayment).

        

        
	 	$______
	 	 	 	 	 
	 	 	Excess Cash Flow prepayment amount (Item (1) minus Item (2)(a)-(f) above): 29	 	$______
	 	 	 	 	 	 







 





 






	29	No such prepayment shall be made if the Excess Cash Flow
for such Excess Cash Flow Period is less than $10,000,000 and, if Excess Cash Flow for such Excess Cash Flow Percentage exceeds
$10,000,000, only the amount in excess thereof shall be subject to a prepayment.



 






    	 	C-16
	 



     


    

 





 





Exhibit C-1


 


FORM OF EXEMPTION CERTIFICATE


 


(For Foreign Lenders That Are Not Partnerships
For U.S. Federal Income Tax Purposes)


 


Reference is hereby
made to the Credit Agreement dated as of October 31, 2019 (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”), by and among Camelot UK Holdco Limited, a private limited liability company incorporated
under the laws of England and Wales with registered number 10314173, Camelot UK Bidco Limited, a private limited liability company
incorporated under the laws of England and Wales with registered number 10267893, the US Borrowers party thereto, Camelot Finance
S.A., a public limited liability company (société anonyme) organized and established under the laws of the
Grand Duchy of Luxembourg, having its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the Luxembourg
Trade and Companies Register under the number B208514, certain Restricted Subsidiaries from time to time designated thereunder
as Additional Revolving Borrowers, the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions,
institutional investors and other entities from time to time party thereto as lenders, the Issuing Lenders from time to time party
thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”).


 


Pursuant to the provisions
of Section 2.19(j) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing
this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is
not a ten percent shareholder of any US Loan Party within the meaning of Section 871(h)(3)(B) of the Code and (iv) it
is not a controlled foreign corporation related to any US Loan Party as described in Section 881(c)(3)(C) of the Code.


 


The undersigned has
furnished the Administrative Agent and the Borrower Representative with a certificate of its non-U.S. Person status on IRS Form W-8BEN
or W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform the Borrower Representative and the Administrative Agent, and (2) the undersigned
shall have at all times furnished the Borrower Representative and the Administrative Agent with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments.


 


Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 


[NAME OF LENDER]


 


	By	 	 
	 	Name:	 
	 	Title:	 



 





	Date:_______ ____, 20[ ]	 






 









    C-1


     


    

 


Exhibit
C-2


 


FORM OF EXEMPTION CERTIFICATE


 


(For Foreign Participants That Are Not Partnerships
For U.S. Federal Income Tax Purposes)


 


Reference is hereby
made to the Credit Agreement dated as of October 31, 2019 (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”), by and among Camelot UK Holdco Limited, a private limited liability company incorporated
under the laws of England and Wales with registered number 10314173, Camelot UK Bidco Limited, a private limited liability company
incorporated under the laws of England and Wales with registered number 10267893, the US Borrowers party thereto, Camelot Finance
S.A., a public limited liability company (société anonyme) organized and established under the laws of the
Grand Duchy of Luxembourg, having its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the Luxembourg
Trade and Companies Register under the number B208514, certain Restricted Subsidiaries from time to time designated thereunder
as Additional Revolving Borrowers, the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions,
institutional investors and other entities from time to time party thereto as lenders (the “Lenders”), the Issuing
Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent thereunder.


 


Pursuant to the provisions
of Section 2.19(j) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within
the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of any US Loan Party
within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related
to any US Loan Party as described in Section 881(c)(3)(C) of the Code.


 


The undersigned has
furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or W-8BEN-E. By executing
this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned
shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with
a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments.


 


Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 






    C-2


     


    

 


[NAME OF PARTICIPANT]


 


	By	 	 









	 	Name:	 
	 	Title:	 



 





	Date:_______ ____, 20[ ]	 






 









    C-1


     


    




 


Exhibit C-3


 


FORM OF EXEMPTION CERTIFICATE


 


(For Foreign Participants That Are Partnerships
For U.S. Federal Income Tax Purposes)


 


Reference is hereby
made to the Credit Agreement dated as of October 31, 2019 (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”), by and among Camelot UK Holdco Limited, a private limited liability company incorporated
under the laws of England and Wales with registered number 10314173, Camelot UK Bidco Limited, a private limited liability company
incorporated under the laws of England and Wales with registered number 10267893, the US Borrowers party thereto, Camelot Finance
S.A., a public limited liability company (société anonyme) organized and established under the laws of the
Grand Duchy of Luxembourg, having its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the Luxembourg
Trade and Companies Register under the number B208514, certain Restricted Subsidiaries from time to time designated thereunder
as Additional Revolving Borrowers, the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions,
institutional investors and other entities from time to time party thereto as lenders (the “Lenders”), the Issuing
Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent thereunder.


 


Pursuant to the provisions
of Section 2.19(j) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members
are the sole beneficial owners of such participation, (iii) with respect to such participation, neither the undersigned nor
any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary
course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct
or indirect partners/members is a ten percent shareholder of any US Loan Party within the meaning of Section 871(h)(3)(B) of
the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to any US Loan
Party as described in Section 881(c)(3)(C) of the Code.


 


The undersigned has
furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members
that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN-E, (ii) an IRS Form W-8BEN, or (iii) an
IRS Form W-8IMY accompanied by an IRS Form W-8BEN-E or an IRS Form W-8BEN from each of such partner’s/member’s
beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that
(1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the
undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either
the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments.


 


Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 


[NAME OF PARTICIPANT]


 




	By	 	 









	 	Name:	 
	 	Title:	 



 





	Date:_______ ____, 20[ ]	 










 



    C-3


     


    




 


Exhibit C-4


 


FORM OF EXEMPTION CERTIFICATE


 


(For Foreign Lenders That Are Partnerships
For U.S. Federal Income Tax Purposes)


 


Reference is hereby
made to the Credit Agreement dated as of October 31, 2019 (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”), by and among Camelot UK Holdco Limited, a private limited liability company incorporated
under the laws of England and Wales with registered number 10314173, Camelot UK Bidco Limited, a private limited liability company
incorporated under the laws of England and Wales with registered number 10267893, the US Borrowers party thereto, Camelot Finance
S.A., a public limited liability company (société anonyme) organized and established under the laws of the
Grand Duchy of Luxembourg, having its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the Luxembourg
Trade and Companies Register under the number B208514, certain Restricted Subsidiaries from time to time designated thereunder
as Additional Revolving Borrowers, the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions,
institutional investors and other entities from time to time party thereto as lenders, the Issuing Lenders from time to time party
thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”).


 


Pursuant to the provisions
of Section 2.19(j) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record
owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate,
(ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing
such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document,
neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement
entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of any US Loan Party within the meaning
of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign
corporation related to any US Loan Party as described in Section 881(c)(3)(C) of the Code.


 


The undersigned has
furnished the Administrative Agent and the Borrower Representative with IRS Form W-8IMY accompanied by one of the following
forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN-E,
(ii) an IRS Form W-8BEN, or (iii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN-E or an IRS Form W-8BEN
from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing
this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned
shall promptly so inform the Borrower Representative and the Administrative Agent, and (2) the undersigned shall have at all
times furnished the Borrower Representative and the Administrative Agent with a properly completed and currently effective certificate
in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments.


 


Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 






    C-4


     


    

 


[NAME OF LENDER]





 


	By	 	 









	 	Name:	 
	 	Title:	 



 





	Date:_______ ____, 20[ ]	 	 






	 	



 









    C-5


     


    




 


Exhibit D


 


[Reserved]





 






    D-1


     


    







 


Exhibit E


 


FORM OF PREPAYMENT NOTICE


 


Date: _______, ____


 


	To:	Bank of America, N.A., as Administrative Agent
	 	Mail Code: TX2-974-03-23
	 	2380 Performance Dr., Bldg. C
	 	Richardson, TX 75082
	 	Attention: Devarshi Ojha
	 	Telephone: (469) 201-8850
	 	Facsimile: (214) 290-8373
	 	Email: devarshi.ojha@bofa.com




 


Ladies and Gentlemen:


 


Reference is made to
that certain Credit Agreement dated as of October 31, 2019, by and among Camelot UK Holdco Limited, a private limited liability
company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot
UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10267893
(“UK Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability company (société
anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue
Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514 (the “Lux
Borrower” and, together with the US Borrowers, each a “Term Borrower” and, collectively, the “Term
Borrowers”), certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers
(together with the Lux Borrower, UK Holdco and Camelot US Acquisition LLC, a limited liability company organized and established
under the laws of Delaware, each a “Revolving Borrower” and, collectively, the “Revolving Borrowers”
and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower” and, collectively, the “Borrowers”),
the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional investors and
other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time to
time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”)
(as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”).
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement.


 


This Prepayment Notice
is delivered to you pursuant to [Section 2.10(a)] [Section 2.11(f)] of the Credit Agreement. The Borrower
Representative hereby gives notice of a prepayment of [Term Loans] [Revolving Loans] as follows:


 


1.            (select
Type(s) of Loans)


 


 ̈ ABR Loans in
the aggregate principal amount of $________.


 


 ̈ Eurocurrency
Loans with an Interest Period ending ______, 20__ in the aggregate principal amount of $________.


 






    E-1


     


    

 


2.             On
__________, 20__ (a Business Day).


 


[Notwithstanding anything
to the contrary herein, this prepayment described above shall be subject to the occurrence of one or more conditions, which are
as follows:


 


[●]]


 


This Prepayment Notice
and prepayment contemplated hereby comply with the Credit Agreement, including [Section 2.10] [Section 2.11]
of the Credit Agreement.


  


	 	Very truly yours,
	 	 
	 	BORROWER REPRESENTATIVE
	 	 
	 	By:	        
	 	Name:
	 	Title:




 


 



    E-2


     


    





 


Exhibit F-1


 


FORM OF REVOLVING LOAN NOTE


 


THIS NOTE AND THE OBLIGATIONS REPRESENTED
HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW.
TRANSFERS OF THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE
AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT.


 


	$[ ]	 	New York, New York 




____________, 20_

  


FOR VALUE RECEIVED,
the undersigned borrower (the “Borrower”), hereby unconditionally PROMISE
TO PAY to ____________________ (the “Lender”) or its registered assigns at the Funding Office specified
in the Credit Agreement (as hereinafter defined) in [Dollars] and in immediately available funds, on the Revolving Termination
Date, the principal amount of (a) ________________ [DOLLARS] ($[ ]), or, if less, (b) the aggregate unpaid principal
amount of all Revolving Loans owing by such Borrower to the Lender under the Credit Agreement. The Borrower further agrees to pay
interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the rates and on the
dates specified in the Credit Agreement.


 


The holder of this
Note is authorized to indorse on the schedules annexed hereto and made a part hereof or on a continuation thereof which shall be
attached hereto and made a part hereof the date, Type and amount of each Revolving Loan made by the undersigned Borrower pursuant
to the Credit Agreement and the date and amount of each payment or prepayment of principal thereof, each conversion of all or a
portion thereof to another Type, each continuation of all or a portion thereof as the same Type and, in the case of Eurocurrency
Loans, the length of each Interest Period with respect thereto. Each such indorsement shall constitute prima facie evidence
of the accuracy of the information indorsed. The failure to make any such indorsement or any error in any such indorsement shall
not affect the obligations of the Borrower in respect of any Revolving Loan.


 


This Note (a) is
one of the Revolving Loan Notes issued pursuant to the Credit Agreement dated as of October 31, 2019, by and among Camelot
UK Holdco Limited, a private limited liability company incorporated under the laws of England and Wales with registered number
10314173 (“Holdings”), Camelot UK Bidco Limited, a private limited liability company incorporated under the
laws of England and Wales with registered number 10267893 (“UK Holdco”), the US Borrowers party thereto, Camelot
Finance S.A., a public limited liability company (société anonyme) organized and established under the laws
of the Grand Duchy of Luxembourg, having its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the
Luxembourg Trade and Companies Register under the number B208514, certain Restricted Subsidiaries from time to time designated
thereunder as Additional Revolving Borrowers, the Subsidiary Guarantors from time to time party thereto, the several banks, financial
institutions, institutional investors and other entities from time to time party thereto as lenders (the “Lenders”),
the Issuing Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative
Agent”) (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the “Credit
Agreement”), (b) is subject to the provisions of the Credit Agreement, which are hereby incorporated by reference,
(c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement and (d) is
secured and guaranteed as provided in the Loan Documents. Reference is hereby made to the Credit Agreement for a statement of all
the terms and conditions under which the Revolving Loans evidenced hereby are to be repaid. Reference is hereby made to the Loan
Documents for a description of the properties and assets in which a security interest has been granted, the nature and extent of
the security and the guarantees, the terms and conditions upon which the security interests and each guarantee were granted and
the rights of the holder of this Note in respect thereof. The principal balance of the Revolving Loans owing to the Lender, the
rates of interest applicable thereto and the date and amount of each payment made on account of the principal thereof, shall be
recorded by the Lender on its books; provided that the failure of the Lender to make any such recordation shall not affect
the obligation of the Borrower to make a payment when due of any amount owing under the Credit Agreement or this Note.


 






    	 	F-1-1	 



     


    

 


Upon the occurrence
and during the continuance of any one or more Events of Default, to the extent permitted under the Credit Agreement, all principal
and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable,
all as provided in the Credit Agreement. No failure in exercising any rights hereunder or under the other Loan Documents on the
part of the Lender shall operate as a waiver of such rights.


 


All parties now and
hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, indorser or otherwise, hereby expressly
waive presentment, demand, protest and all other notices or requirements of any kind.


 


Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 


Any Borrower shall
be released from their obligations hereunder in accordance with the terms set forth in the Credit Agreement.


 


NOTWITHSTANDING
ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO
AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF THE CREDIT AGREEMENT.


 


[Signature page follows.]


 






    	 	F-1-2	 



     


    

 


THIS NOTE AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.


 


	 	[INSERT REVOLVING BORROWER]






 


	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:




 






    	 	F-1-3	 



     


    




 


Schedule A

to Revolving Loan Note


 


LOANS, CONVERSIONS AND REPAYMENTS OF ABR
LOANS


 


	Date	Amount of ABR 

Loans	Amount

Converted to

ABR Loans	Amount of 

Principal of ABR 

Loans Repaid	Amount of ABR

 Loans

Converted to

Eurocurrency

 Loans	Unpaid Principal

 Balance of

ABR Loans	Notation Made

 By
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 


 






    	 	F-1-4	 



     


    

 


Schedule B

to Revolving Loan Note


 


LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS
OF EUROCURRENCY LOANS


 


	Date	Amount of 

Eurocurrency

Loans	Amount

 Converted to

Eurocurrency

 Loans	Interest Period 

and

Eurocurrency 

Rate with 

Respect 

Thereto	Amount of

 Principal of

 Eurocurrency

 Loans Repaid	Amount of

 Eurocurrency

 Loans

 Converted to

 ABR Loans	Unpaid 

Principal 

Balance of

 Eurocurrency

 Loans	Notation 

Made By
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 



 






    	 	F-1-5	 



     


    

 


Exhibit F-2


 


FORM OF SWINGLINE LOAN NOTE


 


THIS NOTE AND THE OBLIGATIONS REPRESENTED
HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW.
TRANSFERS OF THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE
AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT.


 


	$[ ]	 	New York, New York




 


____________, 20_


 


FOR VALUE RECEIVED, the
undersigned, ______________,a ____________ (the “Borrower”), hereby
unconditionally PROMISES TO PAY to ____________________ (the “Lender”), or its registered assigns as
specified in the Credit Agreement (as hereinafter defined) in Dollars and in immediately available funds, on the Revolving Termination
Date, the principal amount of (a) ______________________ DOLLARS ($[ ]), or, if less, (b) the aggregate unpaid principal
amount of all Swingline Loans owing by the Borrower to the Lender under the Credit Agreement. The Borrower further agrees to pay
interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the rates and on the
dates specified in the Credit Agreement.


 


The holder of this Note
is authorized to indorse on the schedules annexed hereto and made a part hereof or on a continuation thereof which shall be attached
hereto and made a part hereof the date and amount of each Swingline Loan made by the Borrower pursuant to the Credit Agreement
and the date and amount of each payment or prepayment of principal thereof. Each such indorsement shall constitute prima facie
evidence of the accuracy of the information indorsed. The failure to make any such indorsement or any error in any such indorsement
shall not affect the obligations of the Borrower in respect of any Swingline Loan.


 


This Note (a) is
the Swingline Loan Note issued pursuant to the Credit Agreement dated as of October 31, 2019 by and among Camelot UK Holdco
Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”),
Camelot UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered
number 10267893 (“UK Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability
company (société anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having
its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register
under the number B208514, certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers,
the Company Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional investors
and other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time
to time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”)
(as amended, restated, amended and restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”),
(b) is subject to the provisions of the Credit Agreement, which are hereby incorporated by reference, (c) is subject
to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement and (d) is secured and guaranteed
as provided in the Loan Documents. Reference is hereby made to the Credit Agreement for a statement of all the terms and conditions
under which the Swingline Loans evidenced hereby are to be repaid. Reference is hereby made to the Loan Documents for a description
of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees,
the terms and conditions upon which the security interests and each guarantee were granted and the rights of the holder of this
Note in respect thereof. The principal balance of the Swingline Loans owing to the Lender, the rates of interest applicable thereto
and the date and amount of each payment made on account of the principal thereof, shall be recorded by the Lender on its books;
provided that the failure of the Lender to make any such recordation shall not affect the obligation of the Borrower to
make a payment when due of any amount owing under the Credit Agreement or this Note.


 






    	 	F-2-1	 



     


    

 


Upon the occurrence and
during the continuance of any one or more Events of Default, to the extent permitted under the Credit Agreement, all principal
and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable,
all as provided in the Credit Agreement. No failure in exercising any rights hereunder or under the other Loan Documents on the
part of the Lender shall operate as a waiver of such rights.


 


All parties now and hereafter
liable with respect to this Note, whether maker, principal, surety, guarantor, indorser or otherwise, hereby expressly waive presentment,
demand, protest and all other notices or requirements of any kind.


 


Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 


Any Borrower shall be
released from their obligations hereunder in accordance with the terms set forth in the Credit Agreement.


 


NOTWITHSTANDING ANYTHING
TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE
WITH THE REGISTRATION AND OTHER PROVISIONS OF THE CREDIT AGREEMENT.


 


[Signature page follows.]


 






    	 	F-2-2	 



     


    

 


THIS NOTE AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.


 


	 	[INSERT BORROWER]



 


	 	By:	 
	 	 	Name:
	 	 	Title:




 






    	 	F-2-3	 



     


    

 


Schedule A

to Swingline Loan Note


 


SWINGLINE LOANS AND REPAYMENTS


 


	Date	Amount of Loans	Amount of 

Principal of 

ABR Loans 

Repaid	Unpaid Principal 

Balance of

ABR Loans	Notation 

Made By
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 


 






    	 	F-2-4	 



     


    

 


Exhibit F-3


 


FORM OF TERM LOAN NOTE


 


THIS NOTE AND THE OBLIGATIONS REPRESENTED
HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW.
TRANSFERS OF THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE
AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT.


 


	$[ ]	 	New York, New York




 


____________, 20__


 


FOR VALUE RECEIVED,
the undersigned borrowers (the “Borrowers”), hereby unconditionally
PROMISE TO PAY to ____________________ (the “Lender”) or its registered assigns at the Funding Office
specified in the Credit Agreement (as hereinafter defined) in Dollars and in immediately available funds, the principal amount
of (a) ____________ DOLLARS ($[ ]), or, if less, (b) the aggregate unpaid principal amount of all Term Loans owing to
the Lender under the Credit Agreement. The principal amount shall be paid in the amounts and on the dates specified in Section 2.3
of the Credit Agreement. The Borrowers further agree to pay interest in like money at such office on the unpaid principal amount
hereof from time to time outstanding at the rates and on the dates specified in the Credit Agreement.


 


The obligations of
the Borrowers hereunder, whether on account of principal, interest or otherwise, are joint and several.


 


The holder of this
Note is authorized to indorse on the schedules annexed hereto and made a part hereof or on a continuation thereof which shall be
attached hereto and made a part hereof the date, Type and amount of the Term Loan and the date and amount of each payment or prepayment
of principal thereof, each conversion of all or a portion thereof to another Type, each continuation of all or a portion thereof
as the same Type and, in the case of Eurocurrency Loans, the length of each Interest Period with respect thereto. Each such indorsement
shall constitute prima facie evidence of the accuracy of the information indorsed. The failure to make any such indorsement
or any error in any such indorsement shall not affect the obligations of the Borrowers in respect of the Term Loan.


 


This Note (a) is
one of the Term Loan Notes issued pursuant to the Credit Agreement dated as of October 31, 2019, by and among Camelot UK Holdco
Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”),
Camelot UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered
number 10267893 (“UK Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability
company (société anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having
its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register
under the number B208514, certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers,
the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional investors and
other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time to
time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”)
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
(b) is subject to the provisions of the Credit Agreement, which are hereby incorporated by reference, (c) is subject
to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement and (d) is secured and guaranteed
as provided in the Loan Documents. Reference is hereby made to the Credit Agreement for a statement of all the terms and conditions
under which the Term Loans evidenced hereby are to be repaid. Reference is hereby made to the Loan Documents for a description
of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees,
the terms and conditions upon which the security interests and each guarantee were granted and the rights of the holder of this
Note in respect thereof. The principal balance of the Term Loans owing to the Lender, the rates of interest applicable thereto
and the date and amount of each payment made on account of the principal thereof, shall be recorded by the Lender on its books;
provided that the failure of the Lender to make any such recordation shall not affect the obligation of the Borrowers to
make a payment when due of any amount owing under the Credit Agreement or this Note.


 






    	 	F-3-1	 



     


    

 


Upon the occurrence
and during the continuance of any one or more Events of Default, to the extent permitted under the Credit Agreement, all principal
and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable,
all as provided in the Credit Agreement. No failure in exercising any rights hereunder or under the other Loan Documents on the
part of the Lender shall operate as a waiver of such rights.


 


All parties now and
hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, indorser or otherwise, hereby expressly
waive presentment, demand, protest and all other notices or requirements of any kind.


 


Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.


 


Any Borrower shall
be released from their obligations hereunder in accordance with the terms set forth in the Credit Agreement.


 


NOTWITHSTANDING
ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO
AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF THE CREDIT AGREEMENT.


 


[Signature page follows.]






    	 	F-3-2	 



     


    

 


THIS NOTE AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION.


 


	 	[INSERT BORROWERS]



 


	 	By:	 
	 	 	Name:
	 	 	Title:




 






    	 	F-3-3	 



     


    

 


Schedule A

to Term Loan Note


    


 


LOANS, CONVERSIONS AND REPAYMENTS OF ABR
LOANS


 


	Date	Amount of ABR 

Loans	Amount

Converted to

ABR Loans	Amount of Principal

 of

ABR Loans Repaid	Amount of ABR

Loans Converted to

Eurocurrency Loans	Unpaid Principal

 Balance

of ABR Loans	Notation

 Made By
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 



 






    	 	F-3-4	 



     


    

 


Schedule B

to Term Loan Note


 


LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS
OF EUROCURRENCY LOANS


 


	Date	Amount of

 Eurocurrency

Loans	Amount

 Converted to

Eurocurrency

 Loans	Interest Period

 and

Eurocurrency 

Rate with

Respect Thereto	Amount of

 Principal of

Eurocurrency

 Loans Repaid	Amount of

 Eurocurrency

Loans Converted to

ABR Loans	Unpaid Principal

Balance of Eurocurrency

Loans	Notation

Made By
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 



 






    	 	F-3-5	 



     


    

 


Exhibit G


 


FORM OF GUARANTOR JOINDER AGREEMENT


 


Reference is made to
the Credit Agreement dated as of October 31, 2019, by and among Camelot UK Holdco Limited, a private limited liability company
incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot UK Bidco
Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10267893 (“UK
Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability company (société
anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue
Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514 (the “Lux
Borrower” and, together with the US Company Borrowers, each a “Term Borrower” and, collectively, the
 “Term Borrowers”), certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving
Borrowers (together with the Lux Borrower, UK Holdco and Camelot US Acquisition LLC, a limited liability company organized and
established under the laws of Delaware, each a “Revolving Borrower” and, collectively, the “Revolving
Borrowers” and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower” and, collectively,
the “Borrowers”), the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions,
institutional investors and other entities from time to time party thereto as lenders (the “Lenders”), the Issuing
Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative
Agent”) (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement.


 


W I T N E S S E T H:


 


WHEREAS, the Guarantors
have entered into the Credit Agreement in order to induce the Lenders to make the Loans and the Issuing Lender to issue Letters
of Credit to or for the benefit of the Borrower;


 


WHEREAS, pursuant to
Section 6.9(a) of the Credit Agreement, the undersigned Subsidiary (the “New Subsidiary Guarantor”),
is required to become a Subsidiary Guarantor under the Credit Agreement by executing a Joinder Agreement. The New Subsidiary Guarantor
is executing this joinder agreement (“Joinder Agreement”) to the Credit Agreement in order to induce the Lenders
to make additional Revolving Loans and the Issuing Lender to issue Letters of Credit and as consideration for the Loans previously
made and Letters of Credit previously issued.


 


NOW, THEREFORE, the
Administrative Agent and the New Subsidiary Guarantor hereby agree as follows:


 


Guarantee. In
accordance with Section 6.9(a) of the Credit Agreement, the New Subsidiary Guarantor by its signature below becomes
a Subsidiary Guarantor under the Credit Agreement with the same force and effect as if originally named therein as a Subsidiary
Guarantor and all references in the Credit Agreement and the other Loan Documents to the terms “Subsidiary Guarantor”
and “Guarantor” shall be deemed to include the New Subsidiary Guarantor.


 






    	 	G-1	 



     


    

 


Representations
and Warranties. The New Subsidiary Guarantor hereby (a) agrees to all the terms, conditions, covenants and other provisions
of the Credit Agreement and the other Loan Documents applicable to it as a Subsidiary Guarantor and a Guarantor thereunder and
(b) represents and warrants that:


 


(i) it is duly organized (or where
applicable in the relevant jurisdiction, registered or incorporated), validly existing and (where applicable in the relevant jurisdiction)
in good standing under the laws of the jurisdiction of its organization, registration or incorporation, as the case may be, (b) has
the power and authority to own and operate its business, to lease the property it operates as lessee and to conduct the business
in which it is currently engaged and (iii) is in compliance with all Requirements of Law, except to the extent the failure
to comply therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect;


 


(ii) it has the corporate or other
organizational power and authority, and the legal right, to enter into, make, deliver and perform this Joinder Agreement and the
other Loan Documents to which it is a party and it has taken all necessary corporate or other organizational action to authorize
the execution, delivery and performance of this Joinder Agreement and the Loan Documents to which it is a party; and


 


(iii) this Joinder Agreement has been
duly executed and delivered by the New Subsidiary Guarantor, and this Joinder Agreement and the other Loan Documents to which the
New Subsidiary Guarantor is a party constitute a legal, valid and binding obligation of the New Subsidiary Guarantor, enforceable
against such New Subsidiary Guarantor in accordance with their terms, except as may be limited by any Legal Reservations.


 


Loan Document.
This Joinder Agreement shall constitute a Loan Document.


 


Severability.
Any provision of this Joinder Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.


 


Counterparts.
This Joinder Agreement may be executed in counterparts, each of which shall constitute an original. Delivery of an executed signature
page to this Joinder Agreement or any document or instrument delivered in connection herewith by facsimile, pdf or other electronic
transmission shall be as effective as delivery of a manually executed counterpart of this Joinder Agreement or such other document
or instrument, as applicable.


 


No Waiver. Except
as expressly supplemented hereby, the Credit Agreement shall remain in full force and effect.


 


Notices. All
notices, requests and demands to or upon the New Subsidiary Guarantor, the Administrative Agent or any Lender shall be governed
by the terms of Section 11.2 of the Credit Agreement.


 


Governing Law.
THIS JOINDER AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD REQUIRE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.


 


[Signature pages follow.]


 






    	 	G-2	 



     


    

 


IN WITNESS WHEREOF,
the undersigned have caused this Joinder Agreement to be duly executed and delivered by their duly authorized officers as of the
day and year first above written.


 


	 	[NEW SUBSIDIARY GUARANTOR]



 


	 	By:	 
	 	 	Name:
	 	 	Title:




 


	 	BANK OF AMERICA, N.A., as Administrative Agent



 


	 	By:	 
	 	 	Name:
	 	 	Title
	 	 




 


[Schedules to be attached.]


 






    	 	G-3	 



     


    

 



 


Exhibit H


 


FORM OF BORROWING AND CONVERSION/CONTINUATION
REQUEST


 


	Date: [•], 20[•]	 




 


	To: 	Bank of America, N.A., as Administrative Agent
	 	Mail Code: TX2-974-03-23
	 	2380 Performance Dr., Bldg. C
	 	Richardson, TX 75082
	 	Attention: Devarshi Ojha
	 	Telephone: (469) 201-8850
	 	Facsimile: (214) 290-8373
	 	Email: devarshi.ojha@bofa.com




 


Ladies and Gentlemen:


 


Reference is made to
that certain Credit Agreement dated as of October 31, 2019 among by and among Camelot UK Holdco Limited, a private limited
liability company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”),
Camelot UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered
number 10267893 (“UK Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability
company (société anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having
its registered office at 14, rue Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register
under the number B208514 (the “Lux Borrower” and, together with the US Borrowers, each a “Term Borrower”
and, collectively, the “Term Borrowers”), certain Restricted Subsidiaries from time to time designated thereunder
as Additional Revolving Borrowers (together with the Lux Borrower, UK Holdco and Camelot US Acquisition LLC, a limited liability
company organized and established under the laws of Delaware, each a “Revolving Borrower” and, collectively,
the “Revolving Borrowers” and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower”
and, collectively, the “Borrowers”), the Subsidiary Guarantors from time to time party thereto, the several
banks, financial institutions, institutional investors and other entities from time to time party thereto as lenders (the “Lenders”),
the Issuing Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative
Agent”) (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement.


 


The undersigned hereby
requests (select one):


 


	 	 	 ̈     A
Borrowing:
	 	 	 
		1.	Borrower[s]: [____________].



 


		2.	Proposed Borrowing Date: [____________].



 


		3.	Principal Amount of Loan: [____________].



 






    	 	H-1	 



     


    

 


		4.	Type of Loans:



 


[ ] a.            Term
Loans, in the amount of $[____________].


 


[ ] b.            Revolving
Loans, in the amount of $[____________]30.


 


		5.	Interest Rate Option:



 


[ ] a.            ABR
Loans, in the amount of $[____________].


 


		[ ] b.	Eurocurrency Loans, in the amount of $[____________],

with an initial Interest Period of



 


[[ ] days;]
31


 


[ ] one month;


 


[ ] two months;


 


[ ] three months;


 


[ ] six months;
or


 


[[ ] twelve
months.] 32


 


		6.	Remittance Instructions: [____________]
	 	 	 
	 	 	 ̈     A
conversion or continuation of [Revolving][Term] Loans:



 


		1.	On: [____________].



 


		2.	Principal Amount of Loan: [____________].



 


		3.	Type of Loan:



 


		4.	Interest Rate Option:



 


	 	[ ] a.	ABR
Loans, in the amount of $[____________].
	 	 	 
		[ ] b.	Eurocurrency Loans, in the amount of $[____________],

with an initial Interest Period of



 


[[ ] days;]
33 


 


[ ] one month;


 


[ ] two months;


 


[ ] three months;


 


[ ] six months;
or


 


[[ ] twelve
months.] 34


 





 






30 To
specify denomination in Dollars or the applicable Alternative Currency


31 Subject
to approval by all Lenders under the relevant Facility


32 Subject
to approval by all Lenders under the relevant Facility


33 Subject
to approval by all Lenders under the relevant Facility


 






    	 	H-2	 



     


    

 












		5.	Remittance Instructions: [____________]



 


[The undersigned certifies
in his/her capacity as a Responsible Officer, and not individually, that the conditions specified in Section [5.1]35
[2.25]36 of the Credit
Agreement shall be satisfied on and as of the date of the Borrowing set forth above.] [The undersigned further certifies in his/her
capacity as a Responsible Officer, and not individually, that]37:


 


(i)            [each
of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents is true and correct in all material
respects (except where such representations and warranties are already qualified by materiality, in which case such representation
and warranty shall be accurate in all respects) on and as of the date hereof to the same extent as made on and as of the date hereof,
except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations
and warranties were true and correct in all material respects (except where such representations and warranties are already qualified
by materiality, in which case such representation and warranty shall be accurate in all respects) as of such earlier date; and


 


(ii)           as
of the date hereof and after giving effect to the extensions of credit requested hereby, no Default or Event of Default has occurred
and is continuing]38.


 


The undersigned hereby
agreed to indemnify each Lender against any loss or expense that such Lender may sustain or incur as a consequence of the events
described in Section 2.21 of the Credit Agreement, such compensation to be in the amount, and determined in the manner contemplated
by Section 2.21 of the Credit Agreement.


 


[Signature page follows.]


 










 






34 Subject
to approval by all Lenders under the relevant Facility


35 Applies
only to Borrowings on the Closing Date.


36 Applies
only to Incremental Term Loans and Incremental Revolving Loans.


37 Applies
only to Borrowings after the Closing Date.


38 Applies
only to Borrowings. Delete for any conversion/continuation request.







 






    	 	H-3	 



     


    

 


IN WITNESS WHEREOF, the undersigned has
caused this [Borrowing][Conversion/Continuation] Request to be executed and delivered by a Responsible Officer thereunto duly authorized,
as of the date set forth above


 


	 	BORROWER REPRESENTATIVE






 


	 	By:	 
	 	 	Name:
	 	 	Title:




 






    	 	H-4	 



     


    

 


Exhibit I


 


FORM OF SOLVENCY CERTIFICATE


 


Reference is made to
the Credit Agreement, dated as of October 31, 2019 (as amended, amended and restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”; unless otherwise defined herein, capitalized terms used in this Certificate
shall have the meanings set forth in the Credit Agreement), by and among Camelot UK Holdco Limited, a private limited liability
company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot
UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10267893
(“UK Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability company (société
anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue
Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514 (the “Lux
Borrower” and, together with the US Borrowers, each a “Term Borrower” and, collectively, the “Term
Borrowers”), certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers
(together with the Lux Borrower, UK Holdco and Camelot US Acquisition LLC, a limited liability company organized and established
under the laws of Delaware, each a “Revolving Borrower” and, collectively, the “Revolving Borrowers”
and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower” and, collectively, the “Borrowers”),
the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional investors and
other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time to
time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”).


 


The undersigned hereby
certifies as follows:


 


1.            I
am the [senior financial officer] of [Holdings].


 


2.            I
have reviewed the terms of the Credit Agreement and the definitions and provisions contained in the Credit Agreement relating thereto
and, in my opinion, have made, or have caused to be made under my supervision, such examination or investigation as is necessary
to enable me to express an informed opinion as to the matters referred to herein.


 


3.            Based
upon my review and examination described in paragraph 2 above, I certify on behalf of [Holdings] and its Subsidiaries, on
a consolidated basis, that, as of the date hereof and after giving effect to the Transactions and the other transactions contemplated
by the Credit Agreement:


 


		(i)	The sum of the “fair value” of the assets of [Holdings] and its Subsidiaries, taken
as a whole, exceeds the sum of all debts of [Holdings] and its Subsidiaries, taken as a whole, as such quoted terms are determined
in accordance with applicable federal and state laws governing determinations of the insolvency of debtors.



 


		(ii)	The “present fair saleable value” of the assets of [Holdings] and its Subsidiaries,
taken as a whole, is greater than the amount that will be required to pay the probable liability on existing debts of [Holdings]
and its Subsidiaries, taken as a whole, as such debts become absolute and matured, as such quoted term is determined in accordance
with applicable federal and state laws governing determinations of the insolvency of debtors.



 






    	 	I-1	 



     


    

 


		(iii)	The capital of [Holdings] and its Subsidiaries, taken as a whole, is not unreasonably small in
relation to the business in which they are or are about to become engaged.



 


		(iv)	[Holdings] and its Subsidiaries, taken as a whole, do not intend to incur, or believe that they
will incur, debts beyond their ability to pay as they mature.



 


For purposes of clauses
(i) through (iv) above, (a) (i) “debt” means liability on a “claim” and (ii) “claim”
means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent,
matured, unmatured, disputed, undisputed, legal, equitable, subordinated, secured or unsecured or (y) right to an equitable
remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy
is reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured and (b) the amount
of any contingent, unliquidated and disputed claim and any claim that has not been reduced to judgment at any time has been 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 (irrespective of whether such liabilities meet the criteria for accrual under
the Financial Accounting Standards Board Statement of Financial Accounting Standards No. 5).


 


The foregoing certifications
are made and delivered as of [●].


 


This certificate is
being signed by the undersigned in his capacity as [●] of [Holdings] and not in his individual capacity.


 


[Signature page follows.]


 






    	 	I-2	 



     


    

  


IN WITNESS WHEREOF,
the undersigned has executed this Certificate as of the date first written above.


 


	 	[●]
	 	 
	 	By:	 
	 	 	Name: [●]
	 	 	Title:   [●]




 






    	 	I-3	 



     


    

 


Exhibit J


 


[Reserved]


 






    	 	J-1	 



     


    

 


Exhibit L


 


FORM OF SWINGLINE BORROWING REQUEST


 


	Date: ___________, _____	 




 


	To:	Mail Code: TX2-974-03-23

2380 Performance Dr., Bldg. C

Richardson, TX 75082

Attention: Devarshi Ojha

Telephone: (469) 201-8850

Facsimile: (214) 290-8373

Email: devarshi.ojha@bofa.com



 


Ladies and Gentlemen:


 


Reference is hereby made
to the Credit Agreement dated as of October 31, 2019, by and among Camelot UK Holdco Limited, a private limited liability
company incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot
UK Bidco Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10267893
(“UK Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability company (société
anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue
Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514 (the “Lux
Borrower” and, together with the US Borrowers, each a “Term Borrower” and, collectively, the “Term
Borrowers”), certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers
(together with the Lux Borrower, UK Holdco and Camelot US Acquisition LLC, a limited liability company organized and established
under the laws of Delaware, each a “Revolving Borrower” and, collectively, the “Revolving Borrowers”
and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower” and, collectively, the “Borrowers”),
the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional investors and
other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time to
time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”)
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement.


 


The undersigned hereby
requests a Swingline Borrowing as follows:


 


		1.	Borrower: [____________].



 


		2.	Proposed Borrowing Date: [____________].



 


		3.	Principal Amount of Swingline Loan: [____________].



 


The undersigned certifies
in his/her capacity as a Responsible Officer of the Borrower Representative, acting on behalf of [ • ], the applicable
Revolving Borrower, and not individually, that the conditions specified in Section 2.7 of the Credit Agreement shall
be satisfied on and as of the date of the Borrowing set forth above.


  



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[Signature page follows.]


  



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IN WITNESS WHEREOF,
the undersigned has caused this Swingline Borrowing Request to be executed by a Responsible Officer thereunto duly authorized,
as of the date first written above.


 


	 	[BORROWER REPRESENTATIVE]






 


	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:




 






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Exhibit M


 


FORM OF BORROWER JOINDER


 


Reference is made to
the Credit Agreement dated as of October 31, 2019 by and among Camelot UK Holdco Limited, a private limited liability company
incorporated under the laws of England and Wales with registered number 10314173 (“Holdings”), Camelot UK Bidco
Limited, a private limited liability company incorporated under the laws of England and Wales with registered number 10267893 (“UK
Holdco”), the US Borrowers party thereto, Camelot Finance S.A., a public limited liability company (société
anonyme) organized and established under the laws of the Grand Duchy of Luxembourg, having its registered office at 14, rue
Edward Steichen, L-2540 Luxembourg registered with the Luxembourg Trade and Companies Register under the number B208514 (the “Lux
Borrower” and, together with the US Borrowers, each a “Term Borrower” and, collectively, the “Term
Borrowers”), certain Restricted Subsidiaries from time to time designated thereunder as Additional Revolving Borrowers
(together with the Lux Borrower, UK Holdco and Camelot US Acquisition LLC, a limited liability company organized and established
under the laws of Delaware, each a “Revolving Borrower” and, collectively, the “Revolving Borrowers”
and the Revolving Borrowers, together with the Term Borrowers, each a “Borrower” and, collectively, the “Borrowers”),
the Subsidiary Guarantors from time to time party thereto, the several banks, financial institutions, institutional investors and
other entities from time to time party thereto as lenders (the “Lenders”), the Issuing Lenders from time to
time party thereto and Bank of America, N.A., as Administrative Agent thereunder (the “Administrative Agent”)
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement.


 


W I T N E S S E T H:


 


WHEREAS, the Borrowers
have entered into the Credit Agreement in order to induce the Lenders to make the Loans and the Issuing Lender to issue Letters
of Credit to or for the benefit of the Borrowers;


 


WHEREAS, Section 12.1
of the Credit Agreement provides, among other things, that the Borrower Representative may, from time to time, designate one or
more of its Restricted Subsidiaries as an Additional Revolving Borrower with respect to Borrowings under the Credit Agreement;
and


 


WHEREAS, the Borrower
Representative desires to designate [  ̃ ] (the “New Borrower”)
as an Additional Revolving Borrower under the Revolving Facility of the Credit Agreement.


 


NOW, THEREFORE, the
Administrative Agent and the New Borrower hereby agree as follows:


 


New Borrower.
In accordance with Section 12.1 of the Credit Agreement, the New Borrower by its signature below becomes an Additional
Revolving Borrower under the Revolving Facility of the Credit Agreement with the same force and effect as if originally named therein
as a Revolving Borrower and all references in the Credit Agreement and the other Loan Documents to the term “Revolving Borrower”
shall be deemed to include the New Borrower.


 


Representations
and Warranties. The New Borrower hereby (a) agrees to all the terms and provisions of the Credit Agreement applicable
to it as a Revolving Borrower thereunder and (b) represents and warrants that the representations and warranties made by it
as a New Borrower thereunder are true and correct in all material respects (except where such representations and warranties are
already qualified by materiality, in which case such representation and warranty shall be accurate in all respects) on and as of
the date hereof as if made on and as of such date, except to the extent such representations and warranties expressly relate to
an earlier date, in which case such representations and warranties shall have been true and correct in all material respects (except
where such representations and warranties are already qualified by materiality, in which case such representation and warranty
shall hbe accurate in all respects) as of such earlier date. Each reference to a Revolving Borrower in the Credit Agreement shall
be deemed to include the New Borrower. The New Borrower hereby attaches supplements to the schedules to the Credit Agreement applicable
to it.


 






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Loan Document.
This Joinder Agreement shall constitute a Loan Document.


 


Severability.
Any provision of this Joinder Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.


 


Counterparts.
This Joinder Agreement may be executed in counterparts, each of which shall constitute an original. Delivery of an executed signature
page to this Joinder Agreement by facsimile, pdf or other electronic transmission shall be as effective as delivery of a manually
executed counterpart of this Joinder Agreement.


 


No Waiver. Except
as expressly supplemented hereby, the Credit Agreement shall remain in full force and effect.


 


Notices. All
notices, requests and demands to or upon the New Borrower, the Administrative Agent or any Lender shall be governed by the terms
of Section 11.2 of the Credit Agreement.


 


Governing Law.
THIS JOINDER AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD REQUIRE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.


 


[Signature pages follow.]


 






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IN WITNESS WHEREOF,
the undersigned have caused this Joinder Agreement to be duly executed and delivered by their duly authorized officers as of the
day and year first above written.


 


	 	[NEW BORROWER]






 


	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:




 


	 	[BORROWER REPRESENTATIVE]




 


	 	By:	 
	 	 	Name:
	 	 	Title:




 


	 	BANK OF AMERICA, N.A., as Administrative Agent




 


	 	By:	 
	 	 	Name:
	 	 	Title




 






     


     


    

 





[Schedules to be attached.]